FIME’s chip payment test platform Savvi – used by acquirers, processors and merchants globally for terminal integration testing – now supports China UnionPay (UnionPay) certification. The new certification process requires merchants and acquirers to confirm that a terminal meets UnionPay’s credit and debit card standards and will successfully integrate with the payment infrastructure. 

Difficult Second Album, Sophomore Slump, Second Year Blues - it’s not easy maintaining success.

Happily, following its breakout year in 2015, the mobile payments industry has seen continued innovation and growth in 2016.

So, as we approach the end of the year, what are the key trends and technologies that will shape the industry into 2017?

IoT and ‘invisible payments’

While we have all been enjoying a life online, an awkward truth threatens to wreck everything. It is this: a password is the same irrespective of who enters it. This means that when an organisation asks for passwords or other ‘memorable’ information for verification purposes, it is unable to tell the difference between their customer and an impostor.

So why do organisations persist in asking their customers to do something that a fraudster can also do?

• Open online in less than 5 minutes
• No conditions or hidden fees
• In partnership with BNP Paribas for the sequestration of funds

The solution consists of a web and mobile online account to cash and withdraw money, process transfers and receive withdrawals, up to 4 MasterCard cards with optional travel insurance to settle expenses and make withdrawals, as well as a range of additional services to save money and better manage its budget.

Mahindra Comviva, the global leader in providing mobility solutions, today announced that its comprehensive digital payment solutions mobiquity® Wallet and payPLUS are now available on the cloud.

E-Business publication, FinTech Finance, has recognised the Isle of Man as FinTech Region of the Year in its 2016 awards. 

Presented at a ceremony in London on the 8^th December, the award identified the Isle of Man for its quality of professional services, regulation and level of investment in the sector.  The Isle of Man fought off the other finalists, Malaysia and Northern Ireland, to secure the accolade.

Laurence Skelly MHK, Minister for the Department of Economic Development commented:

Broadridge Financial Solutions, Inc. (NYSE: BR), a provider of technology and operations, communications , data and analytics solutions for financial services firms, has significantly expanded its on-the-ground presence in the region, affirming its commitment to the Asian market.

OpenLink, the global leader in trading, treasury and risk management solutions for the financial services, corporate, energy and commodities industries, has been positioned as a Leader in Gartner’s November 2016 Magic Quadrant for Trading Platforms for the third consecutive year. Compared to 2015, Gartner’s analysts have placed OpenLink even further along the ‘Completeness of Vision’ axis.

ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, has been named by EBA Clearing as one of the ‘frontrunner service providers’ for the pan-European EBA SEPA Instant Credit Transfer Scheme, due to go live in November 2017.

Gemalto, the world leader in digital security, today released the findings of its Authentication and Identity Management Index, which revealed that 90% of enterprise IT professionals are concerned that employee reuse of personal credentials for work purposes could compromise security.