National Bank of Cambodia to Test Blockchain Distributed Ledger Technology

Soramitsu has partnered the National Bank of Cambodia (NBOC) to co-develop the open source distributed ledger project, Hyperledger Iroha. Through a co-development deal, NBOC will study the implications of distributed ledger technology, while contributing to the open source development of Hyperledger Iroha and developing new payment infrastructures. Distributed ledger (blockchain) technology is what powers decentralized…

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Cyber Breaches & Internal Breaches – Growing Problem for Banks Worldwide

A lack of comprehensive, practical, real-world cybersecurity testing is leaving gaps in the defense of major companies. According to a new report from Accenture, Building Confidence: Solving Banking’s Cybersecurity Conundrum, found 78% of executives surveyed expressed confidence in their overall cybersecurity strategy, with more than half the respondents indicating high levels of comfort in their…

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ADS Q1 Exceeds Expectations – Segments Pumping on All Cylinders

Dallas-based Alliance Data Systems (ADS) reported first quarter (1Q/17) year-on-year (YOY) profits declined but Loyalty One, Epsilon, and especially Card Services, all posted strong first quarter YOY performance, according to CardData. ADS reported gross revenue rose 12.1% YOY in 1Q/17 to $1879 million, compared to $1828 million for 4Q/16, and $1676 million for 1Q/16. Net…

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PayExpo Europe Ready to Disrupt the Payments Status Quo

Bringing the entire European payments ecosystem together to disrupt the status quo and evolve the payments marketspace is all set for October. PayExpo Europe will attract more than 2,200 attendees, over 150 speakers and 75+ exhibitors. The event will be held October 4-5, Excel, London. PayExpo Europe returned to the ExCeL London for its forth…

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Debit Cards More Secure with Growing Popularity Among Small Businesses

Purchases of goods and services totaled $9.550 trillion in 2015, up 3.4% year-on-year (YOY). The four card-based methods of payment of credit, debit, prepaid, and electronic benefits transfer generated $5.665 trillion in purchases or 59.32% of all consumer payment systems volume. Credit cards accounted for $2.932 billion, 30.70% of volume. Debit cards accounted for $2.420,…

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Free Chip and Swipe Card Reader for In-Person Selling in U.S. is Here

With Europay, MasterCard and Visa (EMV) support, the new Chip and Swipe reader lets any Shopify merchant in the United States sell offline in a fast and secure way. The card reader was launched at Unite, Shopify’s annual partner and developer conference. Shopify makes every aspect of starting, running and growing a business easier. With…

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TokenCard, the First Debit Card Powered by Smart Contracts is Here – Say What??

Monolith Studio, an Ethereum specialist has unveiled the first debit card powered by smart contracts. TokenCard brings the VISA payments network to Ethereum so that token holders will soon be able to use Ether as well as other ERC20 tokens to purchase items anywhere that accepts VISA debit cards. TokenCard will launch its ‘token creation’…

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AXP USCS Pinched by Costco Card Loss – Q1 Delinquency & Charge-Offs Rise

The impact of the loss of the U.S. Costco and JetBlue programs continues to manifest itself in the American Express (AmEx) U.S. Card Services (USCS) unit during the first quarter (1Q/17), according to CardData. AmEx reported 1Q/17 gross revenue for USCS decreased 8.0% YOY to $3019 million, compared to $3030 million for the fourth quarter…

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U.S. Bank Credit Card Q1 Profits Decline As Charge-Offs Rise

U.S. Bank (USB)’s Payment Services division reported solid growth in gross dollar volume (GDV) as well as credit and debit fee revenue for the first quarter (1Q/17). However, rapidly rising charge-offs depressed credit card income, according to CardData. Acquiring volume continued to decline for the fourth consecutive quarter. USB’s Payment Services includes consumer and business…

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All-Digital Payment Service Masterpass Inking Deals From Vending to Africa

Masterpass continues to expand globally reaching into the far corners of the world. Masterpass empowers issuing partners to deliver a bank-branded, all-digital payment solution. More than 80 million accounts have been automatically enabled through issuing partners as the service rolls out globally. The enhanced digital payment functionality helps issuers differentiate existing products, including mobile banking…

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