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New UK payment system operator names Paul Horlock chief exec

The UK's new payment system operator has appointed former Nationwide Building Society exec Paul Horlock as chief executive, overseeing the consolidation of Bacs, the Cheque and Credit Clearing Company and the Faster Payments Scheme.

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Japanese banks plot national digital currency

Japanese banks are fighting back against the threat from China's Alibaba with plans to introduce their own digital currency in time for the 2020 Tokyo Olympics.

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BBVA uses big data to redraw city maps

BBVA is using commercial card data to redraw the maps of urban areas based on the purchasing patterns and movements of consumers as they criss-cross the city landscape.

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Nets confirms $5.3 billion takeover offer

Nordic payments processor Nets has received a $5.3 billion takeover offer from US private equity firm Hellman & Friedman.

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EIB provides EUR30 million in debt funding to iZettle

Swedish mPOS vendor iZettle is to get EUR30 million in debt funding from the European Investment Bank to help it better understand the technology needs of small companies.

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Apple P2P payments service nears launch

Apple's peer-to-peer payments feature will not go live with the launch of iOS 11 tomorrow but will arrive this Autumn, enabling users to send money and get paid in Messages.

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ING hails tap-and-pay charity donation boxes

Dutch bank ING says that a contactless charity donation box trial has proved a big hit, resulting in the value of average donations more than doubling that seen with old fashioned cash collection tins.

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Equifax hack: Visa and Mastercard flag 200k compromised credit cards

The details of more than 200,000 Visa and Mastercard cards were stolen during the recent cyber-breach at credit referencing firm Equifax.

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Monzo launches poll on overseas ATM fee levels

Monzo is ditching free overseas ATM withdrawals after concluding that the feature is costing it too much. However, rather than simply imposing a fee, the UK digital bank is now asking customers to vote on how it should charge them.

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Former Bank of England exec Hogg to lead Visa Europe

Visa has appointed former Bank of England deputy governor and chief operating officer Charlotte Hogg as the new head of its European operations.

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Firms still struggling with PCI DSS compliance

Despite the wave of costly data breaches over the last few years, nearly half of global firms that accept plastic are still failing to meet Payment Cards Industry (PCI) security standards, according to a report from Verizon.

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Mastercard turns phones into contactless payments terminals

Mastercard is prepping a pilot that will see small businesses in Poland able to accept contactless payments with only a smartphone.

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PayPal rolls out cashback credit card

PayPal has come up with a novel new weapon to help it take over the high street - an old-fashioned plastic credit card.

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Fitbit brings NFC payments to Ionic smartwatch

Fitbit has struck deals Visa, Mastercard and American Express to bring NFC payments to its new Ionic smartwatch.

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Ice-cream van goes cone-tactless

Barclaycard is aiming to put an end to ice-cream van queue meltdowns through the introduction of a cone-tactless system that lets customers pay with a tap of their card or phone before pouring their own vanilla soft-serve.

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Australia blames bitcoin for rise in organised crime

The growth of online banking and digital currencies haver been cited as the main causes of a massive rise in organised crime in Australia's financial sector according to the country's criminal intelligence agency.

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Mobile contactless spending accelerating in UK

Mobile tap-and-pay spending is accelerating on the high street, spurred by the growing popularity of contactless payments at the point-of-sale, according to new data from Worldpay.

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Permission to appeal sought in £14bn Mastercard class action suit

Walter Merricks, the man spearheading a £14 billion class action lawsuit against Mastercard for overcharging customers, has lodged an appeal against a tribunal's decision to dismiss the claim.

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Uneasy sits the crown as cash use continues decline

The numbers of people using cash to pay for everyday purchases in the UK declined by 11% over the past year as growth in contactless card use accelerated.

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Barclaycard International names former Citi digital payments chief Rodrigues CEO

Barclays has appointed Citi digital payments exec Barry Rodrigues chief executive officer of its Barclaycard International unit.