26 Nov 2004 10:35 AM

US prepaid cell phone market totals $10 billion a year, and the user base is expected to grow at breakneck speed of 70% to include 24.8 million subscribers in 2007 according to the Yankee Group, up from 18 million currently on prepaid plans. In Europe and Asia the proportion of subscribers using prepaid plans reaches 63% and 45% respectively. Retailers

25 Nov 2004 11:02 AM

MasterCard member banks added an EMV chip to 40% of the 200 million MasterCard, Maestro and Cirrus-branded smart cards issued around the world. To service them, 1.5 million EMV-enabled terminals were operating in the third quarter of 2004, 85% more than in 2003. This increase represents the approach to critical

24 Nov 2004 09:50 AM

Japan saw a growth of credit card purchase volume to 20.7 trillion yen last year which is 5.5% up from 2002 results. Still, the share of credit cards among total purchases is a meager 7% as opposed to 25% in the US. Now credit card issuers are trying to set their foot in the over-60s market. This population category has

16 Nov 2004 08:25 AM

Visa, MasterCard and eight banks have been sued by American Express for “anti-competitive practices” that led to damages as around 20,000 U.S. banks were not able to use AE credit card products. "Consumers have been damaged by the boycott by being deprived of competitive alternatives," said David Boies

15 Nov 2004 11:43 AM

Wells Fargo, Citigroup and JPMorgan, three largest U.S. banks, built out foreign exchange to simplify international commercial transactions, the banks said.

11 Nov 2004 05:58 AM

OneSMART Retail chip card package was opened by MasterCard as issuers and merchants are expected to promote EMV card usage at the POS.

09 Nov 2004 10:15 AM

US firms are expected to turn to electronic transactions by 2007, specialists say. New survey by the AFP showed 75% of B2B payments to be made by paper check, though with shifting paradigm to electronic payments as 28% of respondents are sure to turn to electronic payments in three years and about

01 Nov 2004 12:08 PM

Daily operations such as security, sales reports, stock control and loyalty schemes will be improved as chip & PIN compliance issues push publicans to install or upgrade POS systems.

29 Oct 2004 08:17 AM

Automation of collections procedures is one more way to achieve greater efficiency with the write-offs of the U.S. credit card issuers accounting for $45 billion.

26 Oct 2004 10:04 AM

The Purchase Order Manager for the MaxTrad platform will allow ABN Amro to help corporates to outsource open account processing, the company said.

22 Oct 2004 06:17 AM

The usage of chip & PIN payments may lead to inside fraud and unauthorized transfers from bank accounts, specialists say.

21 Oct 2004 07:16 AM

EBay Inc. announced its third quarter profits being higher all estimates. The company’s executives said they fell sorry for some customers that suffered from its payment transaction service inadequate work. EBay’s

20 Oct 2004 08:30 AM

Resolve Online, an online dispute-resolution toll of Visa International, is now giving access to the copy request service of the issuer, the company said.

19 Oct 2004 11:18 AM

53% of all store purchases are now made with the help of payment cards.

18 Oct 2004 10:20 AM

As soon as 2005 the majority of banks and cards issuers in China will distribute around 77 million credit cards al over the country to expand the market.