Russia is a cash society. Only 20 to 25 percent of Russian adults have bank accounts. Just 15 percent had credit cards in 2011, and 90 percent of those cards are used only for withdrawing cash. For big purchases, bringing along a suitcase of rubles...
The ongoing political battle stemming from sanctions and other activities in the Russian/Ukrainian dispute likely will have significant cross-border trading implications, especially in Western Europe. As PYMNTS.com reported Monday (Aug. 11), German companies already are feeling the impact. One maker of pressure vessels and hot...
Diplomacy is a tricky game and imposing financial penalties against nuclear nations can have frightening consequences. That is the lesson learned this week by MasterCard. When the U.S. this summer imposed serious sanctions against Russia, it halted payment card charges and purchases from quite a...
The Paym service seems to be taking off among British banking customers. More than a million users have signed on to use the service, which allows (U.K. equivalent) ACH transfers of funds between mobile numbers. Launched in April, Paym is a cooperative move between HSBC,...
Blackhawk Network is partnering with Barclays Bank to enable merchant gift cards as a choice on the Pingit mobile payments app. The two-year-old Pingit app connects Barclays’ customer account, which enables customers to transfer funds via mobile numbers. Pingit is also available for customers who...
The English have spoken and it seems that they have spoken out in favor using biometric indentification as a primary identifier when it comes to securing banking services. This insight comes from a Intelligent Environments survey that indicates almost 80 percent of British banking users...
According to a recent study by the UK Payments Council, a new UK payments service has caused the nation to become the leader in mobile payments around the world. P2P Paym service, launched in April of this year, is believed to be the cause of...
PayPal is expanding its Working Capital service to the UK, according to TechCrunch. The UK is the first market outside of the U.S. to get PayPal’s lending platform. The platform, first launched in 2013, has already provided $140 million to businesses across the nation. According...
Sweden-based iZettle has capped off the series C investment round it first kicked off in May 2014 with an additional pick-up of $6.8 million, brining total round investment to to $61.2 million. To date, the company has raised a little under $120 million total. The...
