It’s not news to learn that payments proved to be a resilient business around the world throughout the economic crisis and recession. While many banks struggled with over-leveraged balance sheets, their transaction and payments businesses continued to grow.
For the region, with the recovery gradually taking hold, the relative youth of the region’s populations, financial system and market economies is proving a substantial benefit. Turkey and Poland are already among the largest and fastest growing users of contactless cards and the recognition of Turkcell’s success with the launch of its Cep T Cuzdan mobile wallet – the world’s first commercial launch of an NFC wallet that holds more than one payment card are signs that the cutting edge of payment innovations is increasingly to be found beyond the west.
One thing is for certain – with Western European banks still struggling to stop the sovereign debt from spreading while repairing their balance sheets, innovation in consumer payments is likely to be sidelined. At least for a while. Opportunity indeed for emerging European banks to steal the march.
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U.S. banks to push prepaid, credit cards
U.S. banks that have lost debit card processing revenue due to new caps on fees will likely push customers into prepaid and credit cards and other types of account fees, executives said on Thursday. More...
Date: 03 November 2011
Middle East & Poland: Consumer preference for contactless and mobile
Research commissioned by First Data Corporation indicates that while traditional payment methods (cash, debit card, credit card) remain the primary preference for making purchases, consumers in the Middle East and Poland demonstrate greater enthusiasm for new payment technologies, such as contactless and mobile, than those in the UK/Ireland, Germany and Australia. More...
Source: SmartCards Trends
Date: 31 October 2011
Finland: OP-Pohjola Group to start settlement services
OP-Pohjola Group will begin settlement services for Finnish-based merchants related to international payment card transactions. OP-Pohjola offers this service in cooperation with Luottokunta. More...
Source: The Reuters
Date: 31 October 2011
Czech Republic: Online commerce growing fast
The outlook has been rather bleak for retailers lately, with just one new shopping center set to open in the Czech Republic this year and retail sales only recently recovering with 2.3 percent growth after declining in July and June, according to the Czech Statistical Office.More...
Source: Prague Post
Date: 26 October 2011
Euronet Worldwide reports strong 3rd quarter
Euronet Worldwide, reports positive third quarter 2011 results on the back of strong growth in emerging markets including Poland. More...
Source: Euronet Worldwide
Date: 25 October 2011
Central Asia, Middle East
Dubai: MasterCard launches world’s first airport prepaid card
Dubai Airports, Dubai Duty Free and MasterCard Worldwide have announced the launch of DXB Connect, hailed as the world’s first airport prepaid MasterCard card aimed primarily at airport customers. More...
Source: Moodie Report
Date: 02 November 2011
Armenia: Bank VTB, Cosmopolitan and Visa issue co-branded card
Russian-owned Bank VTB Armenia, together with Cosmopolitan Armenia magazine and Visa have launched a new co-branded plastic card designed specially for women, called Visa VTB Cosmopolitan. More...
Source: Arka News Agency
Date: 3 November 2011
Istanbul picks NXP multi-application ID technology for public transport
NXP Semiconductors announced that the city of Istanbul, Turkey, has selected NXP's Mifare contactless microcontroller to power the Automated Fare Collection element of its public transportation system. More...
Date: 08 November 2011
Turkcell Teknoloji receives contactless mobile transaction award
The technology arm of turkish mobile operator Turkcell , have won the SIMagine award in the Best Contactless Mobile Transaction (NFC) category. More...
Source: SmartCards Trends
Date: 01 November 2011
Mobile payments in Russia take another step forward
Smart card manufacturer Giesecke & Devrient and Sitronics Smart Technologies are partnering with Russia's largest mobile operator, Mobile TeleSystems, and Russia's second largest oil company, Lukoil, to launch contactless mobile payments systems at petrol stations, highlighting the growing inroads the sector is making in the Russian market. More...
Date:03 November 2011
BPC Banking Technologies presents first Visa PayWave in Russia
BPC Banking Technologies has completed the first certified Visa PayWave launch in Russia, representing the latest step in Alfa-Bank’s implementation of chip technology. Now customers can enjoy the speed and convenience of contactless payments at the point of sale. Low value transactions can be completed in less than a second, without the need for a PIN or signature. More...
Fortnightly monitoring service of regional developments in retail financial services.
About Eurasia Insights
Eurasia Insights is a research firm focused on analysis, measurement and benchmarking of the emerging financial services industry of Eastern Europe and Central Asia. Our firm has two core product ranges:
» Research reports, delivering industry wide insight and intelligence on a publication and subscription basis
» Custom research, working with individual clients on specific issues where insight is needed and delivered as reports or industry briefings to senior management teams
Eurasia Insights’ research team is organised by financial services industry channels including, Retail Banking, Financial Institutions, Payments and Insurance.
Our research team produce research reports as well as regular updates on key developments in their specific areas of expertise through our PayWatch and BankWatch products available to subscribers.
Research is carried out by qualified financial services analysts and reviewed by peer groups of industry practitioners.
Our list of forthcoming research is available here or contact us to learn more about our custom and bespoke research capabilities.