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...
A Russian national has been indicted for a series of cyber attacks against financial institutions (including Chase Bank, Capital One, Citibank and the Boeing Employees’ Credit Union) and retail POS in the U.S., as well as for running various carding forums that resold payment card...
Chinese government procurement lists have not banned Apple products, according to a Reutersreport from last week. Originally, the rumor was that the popular laptops and tablets were blacklisted because of national security concerns. However, China’s Central Government Procurement Centre, the finance ministry and Apple have...
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. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...
Kenyan consumers transferred more than $12 billion using mobile money services in the first six months of 2014, according to a new report by the Central Bank of Kenya (CBK). Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
Major consumer brands have struggled for years to control the massive grey market, where the brand’s goods are sold without authorization—and where the items sold may be counterfeit items of much lesser quality. This problem is especially challenging in much of the Asian E-Commerce space—and...
China reportedly left Apple products off a government procurement list because the iPhone and iPad maker failed to submit documents that included a pledge not to violate state or public interests. Get the Full Story Complete the form to unlock this article and enjoy unlimited...
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. Get the Full Story Complete the form to unlock this...
