News & Views - Savantor

And in other news…

Sunday, 30 June 2013

It's been a busy couple of weeks so here are a few snippets which didn't make it into fuller articles. 

Nets has teamed up with Ingenico to launch a mobile point of sale solution for small merchants.  The service will turn smartphones and tablets into payment terminals using Ingenico's card reader, the iCMP which has a Bluetooth connection.  Roll out of the payment solution will begin at the end of 2013, with a pilot taking place in Norway during the autumn

Russian credit cards are less likely to be subject to card fraud due to banks in Russia using payment systems with up-to-date security features according to a report from United Card Service (UCS).  But statistics released by the Bank of Russia in early 2013, revealed credit and debit card payments are uncommon in Russia with cash withdrawals accounting for 83% of all card transactions.

Recent figures from Visa Europe show that half a million contactless payments have been made in Ireland since the introduction of Visa Debit contactless cards.  According to Visa Europe, since the introduction of contactless payments, Visa card fraud across Europe has dropped and is currently at its lowest.

Digital currency Bitcoin has introduced a prepaid debit card in the UK.  Cardholders can purchase and fund their card using Bitcoins; however the currency can be spent as British pounds or Euros.

And finally - facing increasing competition here on earth, PayPal is planning to boldly go where no electronic payments service has gone before, Space.  PayPal has teamed up with members of the scientific community to explore the delivery of "payments outside of our planet".  The programme will try to answer questions such as what will the standard currency look like in a cash-free interplanetary society, how will the banking systems have to adapt, how will risk and fraud management systems need to evolve, and what will regulations look like.

It's payments Jim but not as we know it!

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Ernst Verbeek, Managing Director - Trionis - Belgium

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Adam Slater, Senior Manager - Banking - Nationwide Building Society - UK

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