Following reports earlier this month that the EAPS scheme was being considered as the basis of a new debit card system to be established by a group of Europe’s largest banks, members of the Euro Alliance of Payment Schemes (EAPS), are now to set up a not-for-profit company which will be based in Brussels. The company is expected to start operations mid 2007. In a statement the consortium partners say the alliance will be founded as a not-for-profit Brussels-based company that will promote “the interests of its members”. The alliance has so far developed a rule-set for processing transactions across national borders which been released for consultation. Specifications of which have been presented to the European Commission and the European Central Bank. EAPS participants have also begun pilot testing of cross border debit processing. Bilateral pilot schemes are currently being conducted between Germany and Italy, Spain and Portugal and Spain and Germany. Additional tests will follow by the end of the year.
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.