China’s major banks reportedly have set transfer caps for online quick payment services, making it more difficult for users to transfer large amounts of money to Internet wealth management, according to the Beijing News. According to the publication, China Construction Bank set a quota of...
For years, there have been efforts to do away with the use of paper cash and checks and replace them with more efficient electronic means of transferring value. And over time, one might think we’d get to an entirely electronic system. Not likely, or at...
The person-to-person funds transfer market seems to grow each day, though often companies limit transfers to domestic use. A new startup called Remitly is aiming to grow its international remittance business, starting first with the Philippines. Remitly provides a means for immigrants in the U.S....
The European Central Bank (ECB) has approved a guide for payments security assessments being conducted within in the eurozone. The guide helps those planning to tighten point-of-sale security, shore up authentication technologies and provide additional security measures for stored consumer data, according to a Feb....
Ingenico is combining its European business, or Euro-SEPA, and its Transaction business under a new entity managed by Pierre Antoine Vacheron. The initiative builds off Ingenico’s acquisition and integration of Ogone. The new payment service will focus on both offline and online transactions. “Recent business...
2C2P, a payment services provider based in Singapore, has launched a payment solution in Myanmar. The company is launching the complete point-of-sale service in conjunction with Myanmar Citizens Bank. The system accepts both MasterCard and Visa, Tech In Asia reported on Feb. 6. “The rollout in POS...
Emerging market payment servicer Xsolla has added a number of new solutions in Turkey. Xsolla customers have a range of options to choose from, including TTNet, a hybrid ISP-payment service that also is available in France. PayByMe Visa, a prepaid card backed by Visa, and...
Three credit agencies in South Korea have been suspended for three months in the wake of a large-scale data theft. The South Korean Financial Service Commission (FSC) suspended the Lotte Group, NH Financial Group Inc. and KB Financial Group Inc. A 10-day appeal period will...
Ovidio Egido, who has served as MasterCard’s senior business leader for Spain, has been appointed the company’s country manager for Spain. Egido has worked for MasterCard since 2012. He previously served as an independent contractor for Telefonica, 3V Transactional Services and Payment System Europe. “We...
