Published by Eurasia Insights   Issue 19,  Thursday 10 Nov. 2011

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PayWatch 19
27 October - 9 November 2011

The new home of innovation

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.

Take part in our Mobile Banking & Payments in Turkey Survey and get a free copy of the white paper

Eurasia Insights is carrying out new research on the growth of Mobile Banking & Payments in Turkey. For a complimentary copy of the white paper, take part in the survey by following this link.

The Eurasia Payments Report 2011 is now available. For more details follow this link.

Simon Hardie
PayWatch


Outlook

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...

Source: Reuters
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


Eastern Europe

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

Turkey

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...

Source: marketwatch
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

Russia

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...

Source: istockanalyst
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...

Source: RFC Connect
Date: 31 October 2011

 

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