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There is no doubt that lack of trust in the payment system remains a fundamental obstacle to a cashless society. Research shows that consumers are now more concerned than ever about the risk of payments fraud and security breaches. Meanwhile, there have been a series of news stories that have highlighted how dependent a cashless …
Its been a busy week in the world of global money transfer. Both of the biggest household names have had big news, but for one its was a big win and the other a big loss. Good Day, Bad Day for money transfer giants Western Union and Moneygram The U.S. Federal Trade Commission on Thursday …
JPMorgan Chase says it has conducted successful tests of its blockchain-based payment system, Interbank Information Network (IIN). The project is now able to scale transactions effectively, with more than 100 banks now accessing the network. JPMorgan Chase blockchain project IIN gains market traction IIN, is powered by Quorum, a permissioned variant of the Ethereum blockchain, developed by J.P Morgan. …
China and Russia are reported to have agreed on a new bi-lateral payment system to boost the use of their national currencies in bilateral and international trade, underscoring their intent to cut their reliance on the US dollar. China and Russia to launch new payments system The development of a new international financial payments system …
Visa Inc is to pay £198 million pounds to buy Earthport Plc, a British firm that facilitates international transactions for banks and businesses. Visa to buy Earthport for £198 million Visa International Service Association, a unit of Visa, has offered 30 pence for each Earthport share, a price that is four times the …