PaymentsSource

Russia’s Alfa-Bank And Rosbank Sign Surcharge-Free ATM-Sharing Deal

Alfa-Bank and Rosbank earlier this month merged their ATM networks as the Russian financial institutions looked to compete with Sberbank, the country’s largest bank. The merged network has more than 5,500 ATMs in 539 cities and towns. Customers of the two banks now may use either bank’s ATMs without paying a surcharge fee and without …

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MasterCard Signs Deal To Bring PayPass To Russian Cell Phones

MasterCard Worldwide has signed a letter of intent with Russian cell-phone carrier Mobile TeleSystems to bring PayPass contactless-payment functionality to Russian mobile data only sim phones, the card brand announced Oct. 28. Mobile TeleSystems, which will offer SIM cards embedded with PayPass functionality, demonstrated the technology at the Rosnanotech 2011 conference. It is the first …

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Australia’s Commonwealth Bank Unveils Mobile-Payment Platform

The Commonwealth Bank of Australia on Oct. 26 unveiled a mobile-payment platform to enable iPhone-owning customers to do online banking, instantly send funds to Facebook friends or to anyone’s email address or telephone number, and, with the use of a special cover, make contactless payments. The service, called Commbank Kaching, will be available for download …

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New Chinese Social Security Card To Include Payment, Banking Applications

China’s new multifunction contactless social security card will support yuan-denominated cash withdrawals, funds transfers and other consumer-oriented banking applications, government officials told reporters at a press conference Aug. 30. However, it will not support a credit card function, officials said, not explaining why. Earlier this month, China’s Ministry of Human Resources and Social Security announced …

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