HSBC says internet banking services down after cyber attack

Internet & mobile services have partially recovered, work still in progress to restore full service

Reuters

London (Reuters)- HSBC is working with law enforcement to catch those behind a cyber attack that forced its personal banking websites in the UK to shutdown, its second major service outage this month, the bank said on Friday.

PayPal's revenue beats Street view on higher transactions, customers

The company said it processed 450 payments per second on Cyber Monday

Reuters

(Reuters) - Payment processor PayPal Holdings Inc on Wednesday reported better-than-expected quarterly revenue, as new customer additions and payment processing volumes surged, and it announced a buyback of $2 billion of its stock.

PayPal said it expects 2016 full-year earnings of $1.09 to $1.14 per share, and revenue growth of 16-19 percent on a currency neutral basis. It expects currency fluctuations to impact net revenue by 3 percentage points during the year.

Payment processor Adyen says 2015 revs double, profits triple

Rival to Worldpay, PayPal and Square said transactions on its platform doubled to 50B euros

Reuters

FRANKFURT (Reuters) - Adyen, one of Europe's biggest fintech start-ups, said on Thursday that annual revenue doubled to around 330 million euros ($360 million) in 2015, leading profits to nearly triple to 40 million euros compared with a year ago.

The Dutch company, a rival to Worldpay, PayPal and Square said transaction volumes running via its payments platform doubled to 50 billion euros, resulting in a tripling of profits thanks to mounting economies of scale.

Samsung Pay plans to enable U.S. online shopping in 2016

Samsung Pay is already the most widely accepted mobile wallet in the United States

Reuters

CHICAGO (Reuters) - Samsung Electronics Co plans to expand its fledgling mobile payment service in the United States next year, allowing users to shop online and with more smartphones that support the electronic wallet.

Lower-priced Samsung phones will likely start offering the mobile wallet "within the next year," Thomas Ko, global co-general manager of Samsung Pay, said in an interview. The service debuted in South Korea on just a handful of high-end Samsung phones, including the Galaxy Note 5, the Galaxy S6 Edge, Galaxy S6, and S6 Edge Plus.

Cyber security expert warns German banks of retail payments risks

Recommends that payment terminal manufacturers take appropriate action

Reuters

OXFORD, England (Reuters) - A top cyber security researcher has warned German banks that their retail payment systems have security flaws that could allow fraudsters to steal payment card PIN codes, create fake cards or siphon funds from customer or merchant accounts.

Karsten Nohl, who is credited with revealing major security threats in mobile phones, automobiles, security cards and thumb-sized USB drives, told Reuters he has found critical weaknesses in software that runs retail point-of-sale terminals in Germany.

Target in initial development of own mobile wallet - sources

4th Largest US retailer has not committed to launch the product, which could be as early as next year

Reuters

(Reuters) - Target Corp is in the early stages of developing its own mobile wallet, three people familiar with the matter said, joining Wal-Mart Stores Inc in posing a threat to recent entrants like Apple Pay.

The fourth-largest U.S. retailer has not committed to launch the product, which would allow customers to pay for goods using an app on their mobile phones. The mobile wallet could launch as early as next year, but it is too early to predict, said two of the sources, who requested anonymity because they were not authorized to speak to the media.

Apple to launch Apple Pay in China, take on Alibaba, Tencent

Online transactions are booming in China, boosted by the proliferation of hundreds of millions of smartphones

Reuters

SHANGHAI (Reuters) - Apple Inc said it will launch its payment service in China as soon as 2016, pitting it against entrenched Chinese rivals Alibaba Group Holding and Tencent Holdings.

Apple will partner with China's main bank card and payment firm UnionPay, a state-controlled consortium that has a monopoly on all yuan payment cards issued and used in the country.

UnionPay also plans to tie up with Samsung Electronics Co Ltd's payment system, Samsung Pay, the Chinese firm said in a statement on Friday.

Wal-Mart adds to mobile wallet frenzy with 'Walmart Pay'

Despite flurry of new launches and partnerships in the past year customer and merchant adoption have been sluggish

Reuters

(Reuters) - Wal-Mart Stores Inc launched its own mobile payment service Walmart Pay on Thursday, potentially dealing a sharp blow to the ambitions of a mobile wallet the company had been co-developing with a consortium of retailers.

The mobile payments space in the U.S. has seen a flurry of new launches and partnerships in the past year but has failed to gain traction as customer and merchant adoption have been sluggish.

Smartphones put power to deal currencies into retail traders' hands

At one London-based broker, Mobile trading makes up about 60 percent of transactions, up 10 percent in 4 years

Reuters

LONDON (Reuters) - Once the preserve of big international banks, smartphones are putting the power to deal currencies into the hands of a new cohort of traders, who can make a fortune -- or lose their shirt -- on the bus to work.

Retail foreign exchange trading has grown rapidly in recent years, but the image has been of a lone trader in front of a computer screen. Smartphones, owned by around half the world's adults, are changing that.

Mobile Commerce, Payments, NFC/RFID and Big Data

The role of Near Field Communication (NFC) in mobile payments continues to divide the industry

There has been an explosion in mobile payment service launches, joint ventures, and partnerships in the past two to three years.  Merchants are starting to appreciate the benefits that mobile payments can bring, with major chains including Starbucks and McDonald’s launching services on a national basis.

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