ECB’s payments, Square’s prepaid, Amex’s acquisition and Fico’s fraud in cards
- ECB has announced its plans for a new instant payments and settlement system that will enable businesses and consumers to send money in real-time across 19 countries. The TARGET Instant Payments Settlement Service (TIPS) will go live in November 2018 and take settlement and clearing houses out of the payments structure altogether
- Square has announced that its prepaid Square Cash Card is now available to everyone in the US
- American Express Global Business Travel is to acquire Banks Sadler, an international meetings and events agency based in London
- Fico and Euromonitor have reported that UK card fraud losses increased by 9% year-on-year in 2016 to £618m, with Poland and Sweden experiencing high year-on-year increases at 10% and 18% respectively. Overall, European card fraud losses reached a record €1.8bn in 2016
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