Payment systems http://www.globalpost.com/taxonomy/term/29159/all en Visa credit cards make Myanmar debut http://www.globalpost.com/dispatch/news/afp/130201/visa-credit-cards-make-myanmar-debut <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>US credit card giant Visa launched electronic payments in Myanmar on Friday, marking the long-awaited debut of plastic in a country that until now has had a cash economy.</p> <p>For years visitors to Myanmar have had to carry wads of notes to pay hotel and restaurant bills, following US sanctions on the former junta that barred American financial services firms from entry to the country.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130201/visa-credit-cards-make-myanmar-debut" target="_blank">read more</a></p> Business Economics Myanmar Payment systems AFP Fri, 01 Feb 2013 12:30:36 +0000 5742920 at http://www.globalpost.com Ex-Iran bank chief found with $70 mln cheque: report http://www.globalpost.com/dispatch/news/afp/130203/ex-iran-bank-chief-found-70-mln-cheque-report <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>The former head of Iran's central bank, Tahmasb Mazaheri, has been found in possession of a cheque worth 54 million euros ($70 million) by German authorities, the Bild am Sonntag weekly reported.</p> <p>Mazaheri, in charge of the central bank until 2008, was searched by customs officers at Dusseldorf airport on January 21 after arriving aboard a flight from Turkey, the Sunday paper said.</p> <p>The cheque, with a value of 300 million Venezuelan bolivars, was discovered in his hand luggage, according to the report.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130203/ex-iran-bank-chief-found-70-mln-cheque-report" target="_blank">read more</a></p> Banking Business Payment systems AFP Mon, 04 Feb 2013 00:31:24 +0000 5744895 at http://www.globalpost.com Britain targets technology to break banking dominance - Osborne http://www.globalpost.com/dispatch/news/thomson-reuters/130204/britain-targets-technology-break-banking-dominance-osborne <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>LONDON, Feb 4 (Reuters) - Britain's finance minister George Osborne said on Monday the government will present detailed proposals to open up the country's bank payments system and reduce the "big four" dominance of high street banking.</p> <p>Questioning why it takes days for cheques or credit payments to go through in an age of instant communication, Osborne said,</p> <p>"We will make sure that new players in the market can access these systems in a fair and transparent way."</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130204/britain-targets-technology-break-banking-dominance-osborne" target="_blank">read more</a></p> Finance George Osborne Investment Payment systems Thomson Reuters Mon, 04 Feb 2013 18:15:29 +0000 5745638 at http://www.globalpost.com EXCLUSIVE-Japan exchange probes accounting of Universal's Philippine payments - sources http://www.globalpost.com/dispatch/news/thomson-reuters/130204/exclusive-japan-exchange-probes-accounting-universals-philippin <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Nathan Layne</p> <p>TOKYO, Feb 5 (Reuters) - The Osaka Securities Exchange is investigating how Universal Entertainment Corp accounted for millions of dollars paid in 2010 to advance the Japanese firm's casino project on Manila Bay, people with direct knowledge of the inquiry said.</p> <p>The exchange's involvement is the first time the payments have drawn the attention of Japanese regulators. The FBI and Philippine authorities have been investigating $40 million in payments to a politically-connected consultant in Manila since last year.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130204/exclusive-japan-exchange-probes-accounting-universals-philippin" target="_blank">read more</a></p> Business Economics Labor Law Payment systems Universal Entertainment Corp Thomson Reuters Mon, 04 Feb 2013 21:30:14 +0000 5745801 at http://www.globalpost.com MasterCard launches new digital payment system http://www.globalpost.com/dispatch/news/afp/130225/mastercard-launches-new-digital-payment-system <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Credit card giant MasterCard announced Monday the launch of a new digital payment system that lets people use a wide variety of devices including smartphones to spend their money.</p> <p>The system, known as MasterPass, stores customers' banking and personal information in a "secure cloud" online where it is available for the moment of payment whether in a store on when browsing the Internet, the group said.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130225/mastercard-launches-new-digital-payment-system" target="_blank">read more</a></p> Business Credit cards Payment systems Technology AFP Mon, 25 Feb 2013 09:00:32 +0000 5765744 at http://www.globalpost.com Battle commences for 'mobile money' http://www.globalpost.com/dispatch/news/afp/130225/battle-commences-mobile-money <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Global financial groups battled Monday to control the lucrative future of "mobile money", which will enable people to use a smartphone to go shopping instead of cash and credit cards.</p> <p>MasterCard, Visa and online payments service PayPal struggled for a slice of the industry as the world's biggest mobile fair, Mobile World Congress, opened in Barcelona, Spain.</p> <p>It is a market with potentially rich rewards.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130225/battle-commences-mobile-money" target="_blank">read more</a></p> Business Economics Payment systems Technology AFP Mon, 25 Feb 2013 11:46:02 +0000 5765863 at http://www.globalpost.com MasterCard aims at mobile payment market with launch of 'digital wallet' http://www.globalpost.com/dispatch/news/thomson-reuters/130225/mastercard-aims-at-mobile-payment-market-launch-digital-wallet <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Laura Noonan</p> <p>LONDON, Feb 25 (Reuters) - Mastercard unveiled its bid to dominate the mobile payments market on Monday with a 'virtual wallet' allowing customers to keep personal payment details in their phone and avoid checkouts by scanning bar codes in-store to pay.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130225/mastercard-aims-at-mobile-payment-market-launch-digital-wallet" target="_blank">read more</a></p> Business Economics Payment systems Thomson Reuters Mon, 25 Feb 2013 14:45:35 +0000 5766037 at http://www.globalpost.com Battle commences for 'mobile money' http://www.globalpost.com/dispatch/news/afp/130225/battle-commences-mobile-money-0 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Global financial groups battled Monday to control the lucrative future of "mobile money", which will enable people to use a smartphone to go shopping instead of cash and credit cards.</p> <p>MasterCard, Visa and online payments service PayPal struggled for a slice of the industry as the world's biggest mobile fair, Mobile World Congress, opened in Barcelona, Spain.</p> <p>It is a market with potentially rich rewards.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130225/battle-commences-mobile-money-0" target="_blank">read more</a></p> Business Payment systems Technology AFP Mon, 25 Feb 2013 16:45:51 +0000 5766149 at http://www.globalpost.com Africa, Asia lead 'mobile money' boom http://www.globalpost.com/dispatch/news/afp/130227/africa-asia-lead-mobile-money-boom <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Africa and Asia are leading a global boom in the use of "mobile money" as millions turn to their mobile phones instead of coughing up cash or handing over credit cards.</p> <p>In 2012, more than 30 million people were actively using mobiles to make payments, according to an industry study released Wednesday at the world's biggest mobile fair held from February 25-28 in Barcelona, Spain.</p> <p>The study by the mobile operators' industry association, GSMA, found there were more mobile money accounts than traditional bank accounts in Kenya, Madagascar, Tanzania and Uganda.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130227/africa-asia-lead-mobile-money-boom" target="_blank">read more</a></p> Payment systems Technology Vodafone AFP Wed, 27 Feb 2013 15:16:30 +0000 5768548 at http://www.globalpost.com RPT-YOUR MONEY-When tip jars go high-tech, do U.S. workers benefit? http://www.globalpost.com/dispatch/news/thomson-reuters/130311/your-money-when-tip-jars-go-high-tech-do-us-workers-benefit <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Kathleen Kingsbury</p> <p>NEW YORK, March 11(Reuters) - Latte buyers in select New York City venues may have noticed an addition to coffee shop counters lately: DipJar, a tip jar that takes plastic.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130311/your-money-when-tip-jars-go-high-tech-do-us-workers-benefit" target="_blank">read more</a></p> Business Labor Law Payment systems Socioeconomics Technology Thomson Reuters Mon, 11 Mar 2013 05:15:52 +0000 5779341 at http://www.globalpost.com credit card spending-January http://www.globalpost.com/dispatch/taxonomy/term/39093/130312/credit-card-spending-january <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Yonhap News Agency </div> </div> </div> <!--paging_filter--><p>By Kang Yoon-seung</p> <p>SEOUL, March 11 (Yonhap) -- South Korea's credit card spending climbed 6.3 percent on-year in January, the slowest pace in 45 months apparently due to the government's tightening of credit card rules, data showed Monday.</p> <p>Purchases made with credit cards totaled 43.1 trillion won (US$39.5 billion) in January, compared to 40.5 trillion won tallied the previous year, according to the data by the Credit Finance Association (CREFIA).</p> <p><a href="http://www.globalpost.com/dispatch/taxonomy/term/39093/130312/credit-card-spending-january" target="_blank">read more</a></p> Business Economics Payment systems Yonhap News Agency Tue, 12 Mar 2013 20:15:17 +0000 5781429 at http://www.globalpost.com Angry Cyprus residents slam EU bailout terms http://www.globalpost.com/dispatch/news/afp/130316/angry-cyprus-residents-slam-eu-bailout-terms <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>"This is like stealing!" said an angry man who rushed on Saturday to withdraw funds after the EU agreed on a bailout that will affect everyone with accounts in the east Mediterranean island's banks.</p> <p>"I earned this money, and now it is taken to cover for some mistakes that are not my fault," said Kyriakos, an artist, at a bank ATM machine to withdraw whatever cash he could in a bid to reduce the amount he will have to pay.</p> <p>Joseph, a bank employee friend of his also in the cash queue, said the banks had known nothing about the bailout measures.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130316/angry-cyprus-residents-slam-eu-bailout-terms" target="_blank">read more</a></p> Asia Business Disaster Labor Law Payment systems Political geography AFP Sat, 16 Mar 2013 16:30:56 +0000 5785425 at http://www.globalpost.com Angry Cyprus residents slam EU bailout terms http://www.globalpost.com/dispatch/news/afp/130316/angry-cyprus-residents-slam-eu-bailout-terms-0 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>"This is like stealing!" said an angry man who rushed on Saturday to withdraw funds after the EU agreed on a bailout that will affect everyone with accounts in the east Mediterranean island's banks.</p> <p>"I earned this money, and now it is taken to cover for some mistakes that are not my fault," said Kyriakos, an artist, at a bank ATM machine to withdraw whatever cash he could in a bid to reduce the amount he will have to pay.</p> <p>Joseph, a bank employee friend of his also in the cash queue, said the banks had known nothing about the bailout measures.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130316/angry-cyprus-residents-slam-eu-bailout-terms-0" target="_blank">read more</a></p> Asia Business Disaster Labor Law Payment systems Political geography AFP Sat, 16 Mar 2013 17:30:30 +0000 5785468 at http://www.globalpost.com EBay hit as "gloves come off" over PayPal digital wallet fee http://www.globalpost.com/dispatch/news/thomson-reuters/130318/ebay-hit-gloves-come-over-paypal-digital-wallet-fee <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Alistair Barr</p> <p>SAN FRANCISCO (Reuters) - EBay Inc shares hit a new low for 2013 on Monday as concern mounted about the impact of a new "digital wallet" fee on the company's PayPal business.</p> <p>MasterCard Inc, one of the largest payment networks, said earlier this year that it plans a new fee for digital wallet operators like PayPal starting in June.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130318/ebay-hit-gloves-come-over-paypal-digital-wallet-fee" target="_blank">read more</a></p> Business Electronic commerce Payment systems PayPal Thomson Reuters Mon, 18 Mar 2013 22:15:03 +0000 5787193 at http://www.globalpost.com Visa CEO calls digital wallet fee on PayPal "appropriate" http://www.globalpost.com/dispatch/news/thomson-reuters/130320/visa-ceo-calls-digital-wallet-fee-paypal-appropriate <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Alistair Barr</p> <p>SAN FRANCISCO (Reuters) - Visa Inc Chief Executive Charlie Scharf suggested on Wednesday that the payment network may impose a fee on digital wallet operators like PayPal, following rival MasterCard Inc.</p> <p>MasterCard said earlier this year that it plans a new fee for digital wallet operators starting in June.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130320/visa-ceo-calls-digital-wallet-fee-paypal-appropriate" target="_blank">read more</a></p> Business Electronic commerce Payment systems Thomson Reuters Wed, 20 Mar 2013 22:15:15 +0000 5789268 at http://www.globalpost.com