US senator Richard Durbin has announced that an agreement has been reached with key figures from the House of Representatives regarding his amendment to a financial services reform bill regulating debit card interchange fees.
ADCB set to become retail banking powerhouse in UAE
Abu Dhabi Commercial Bank (ADCB) will become one of the top three players in the United Arab Emirates’ (UAE) credit cards market if its acquisition of The Royal Bank of Scotland’s (RBS) retail banking business in the UAE is approved.
Momentum builds for P2P challenger
An alternative person-to-person (P2P) payments network has gained momentum in challenging the incumbent players by signing up a number of financial institutions in the US.
Bank levy to be imposed on UK banks
In his Budget speech, UK finance minister George Osborne has said that from 1 January 2011, the government will introduce a levy based on banks’ balance sheets.
Citi launches mobile payment stickers
Citi has launched mobile contactless payment stickers in the US market – a move that bridges the gap between contactless cards and mobile phones that are enabled with near field communication (NFC) technology.
Obstacles remain in UK prepaid sector
A senior industry figure has warned that a lack of convenience remains a major obstacle in encouraging consumers to use prepaid cards in the UK.
Interac to introduce contactless functionality
Interac Association, Canada’s national domestic debit network, is to introduce contactless functionality to its debit cards in a move to ward off the competition from Visa and MasterCard in the Canadian debit space.
UK fine-tunes cheque strategy
The UK’s Payments Council has published an update on the progress being made to close cheque clearing in 2018.
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