Britain leaving the European Union could give fledgling financial technology companies an immediate shot in the arm but deprive them of expansion later on, industry officials said on Monday (11 April).
MEPs approved rules on Wednesday (7 October) to cut costs imposed on online payment services and to make them safer and more resistant to fraud. Legislators say the new measures will boost the growth of innovative online services in the payments sector.
A boom in payment-enabled smartphone manufacture and the entry of key phone and finance players into the mobile wallets market has made 2014 a watershed year, as the tide turns against the future use of cash.
President Vladimir Putin said today (27 March) that Russia would develop its own credit card system, in order to reduce reliance on Western payment card companies Visa and MasterCard and soften the potential blow from EU, US sanctions.
MasterCard commissioned Ipsos MORI to help it understand what the impact of being financially ‘excluded’ or ‘underserved’ is on people’s everyday lives. This study – both quantitative and qualitative – looked at the financially ‘excluded’ and ‘underserved’ across Europe.
Key rule changes designed to introduce more competition and update the credit and debit card payments landscape are set to ignite a lengthy dispute over technicalities when they come before committee in the European Parliament next week.
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