In a departure from their roots as the internets premier destination for posting adorable pictures of children and ill-advised pictures of drinking, Facebook is making and entry into the payments industry with remittances and electronic money. The social media behemoth is weeks away from receiving regulatory...
According to research from the World Economic Forum, SMEs account for 99% of the enterprises and two thirds of employment in OCED countries, making up a significant portion of each country’s economy. In the US, nearly all net job creation between 1997 and 2005 came...
Chinas UnionPay now has the world’s top-used debit card, having taken the honor last year away from long-time leader Visa, according to the Nilson Report. When comparing debit card purchase volume, UnionPay’s share increased by 738 basis points to 47.19 percent. Visa’s share fell 605 basis...
A program run between 115 Japanese supermarkets and convenience stores to share biometric customer face data has drawn criticism for offering a wide variety of possible customers’ rights abuses. The shop-lifting prevention system operated by a Nagoya-based software development company, scans and stores customer face data...
MasterCard East Africa is reporting that electronic payments are starting to drive and transform the retail market in Kenya. James Wainaina, Vice President of MasterCard East Africa says that there are more cards in the market, and contactless devices are becoming more common. “The market...
The key to running a successful prepaid program in any market globally is to develop profitable and ethical business practices,something Amit Sethi dubs “market-appropriate” business models. And innovation plays a big part in this said Sethi, the co-chairman of the Prepaid International Forum India and...
Pitney Bowes, the 94-year-old maker of postage meters turned eCommerce company, is launching a joint venture in India’s technology industry association, Nasscom, to launch an accelerator program that taps into the nation’s technical and engineering talents. The accelerator is part of Nasscom’s “10,000 Start-Ups” program launched...
After an initial public offering at $26 a share, GrubHub stock surged upward 20 percent in its initial day of trading April 3. The stock had climbed as much as 50 percent over the course of day, but pulled back as tech stocks plummeted on...
After a big announcement and bold plans for the future of secure payments in Canada, the Royal Canadian Mint has officially decided to ditch the MintChip program and is looking to pursue a sale of the business. “The Mint is currently working with the Department...
