Febelfin announced that Belgian banks have decided against the decision to switch the domestic debit card system (Bancontact/Mister Cash) to the MasterCard payments platform at the end of the year. In May last year, Banksys announced the switch to Maestro from the national system, scheduled to take place in January 2008. The migration was intended to coincide with the introduction Sepa. According to Belgian national press, suspension of the project followed protests from retailers concerned about interchange fee levels. A lack of clarity in the legislative arena for payments processing was also cited as a consideration. Mastercard has responded to the setback by re-affirming its intention to introduce Maestro as a local debit scheme at the beginning of 2008, in direct competition with the Bancontact system. To date, over 95% of Belgian debit cards already have Maestro operability for international transactions.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.