In many instances, mass transit systems have proven to be catalysts for adoption of new payment technology, starting with the genesis of contactless cards for access to buses and trains in Hong Kong and Japan in the late 1990s. Hong Kong’s Octopus Card is one of the earliest examples of how transit networks can expand…
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BI Intelligence This is a preview of a research report from BI Intelligence, Business Insider’s premium research service. To learn more about BI Intelligence, click here. Digital disruption is rocking the payments industry. But merchants, consumers, and the companies that help move money between them are all feeling its effects differently. For banks, card networks, and processors, the digital…
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It’s clear now that the launch of Zelle last year was far more than a skin-deep rebranding of the years-old clearXchange network, as the P-to-P payments network announced some sizable gains over its past performance. To date, more than 60 financial institutions have joined the Zelle network with participants representing half of U.S. demand deposit…
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The information you need to start your day, from PaymentsSource and around the Web: Jackpot: The U.S. Secret Service is warning banks about a form of ATM crime called “Jackpot,” in which crooks install software and/or hardware to force machines to dispense cash, reports security writer Brian Krebs. The attacks, which began in Europe and…
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PayPal has been working to expand Venmo’s audience beyond millennials for more than a year, a strategy that it hopes to further with instant transfers. Bloomberg News For a fee of $0.25, users can deposit funds into their debit cards in up to 30 minutes, rather than current wait time of up to three days.…
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The information you need to start your day, from PaymentsSource and around the Web: Staying busy: While Kenneth Chenault is expected to retire as CEO of American Express on Feb. 1, he’s already been appointed to a couple of boards. Facebook recruited Chenault to join its board, with a particular eye on improving Facebook’s direct…
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DOWNLOAD PDF Abstract Within the consumer driven, on-demand transformation occurring in financial services today, instant issuance has emerged as a key centerpiece to meet evolving customer preferences at the branch-level. The 21st century consumer wants a debit or credit card that does it all and can be inside their wallet within the span of a…
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The information you need to start your day, from PaymentsSource and around the Web: A mobile wallet holiday: The decision by Australian banks to boost digital payment options in the year ahead appears to be a solid one, as mobile wallet usage at ANZ jumped for the holiday shopping season. ANZ reported 3.9 million mobile…
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The information you need to start your day, from PaymentsSource and around the Web: Cashierless in Seattle: After more than a year of testing, Amazon Go is opening to the public today at a single location in Seattle.The store uses cameras and sensors to track what consumers buy and bill those customers after they leave…
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Mastercard is teaming with SIX Payment Services to enable cashless payments at the Hahnenkamm, a top European ski race in Kitzbühel, Austria, to speed up service and eliminate lines. The payments processor SIX, of Zurich, is supporting more than 80 mobile payment terminals temporarily placed throughout the ski resort and within the city’s center to…
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