German electronic payments (e-payments) processor B+S Card Service (B+S), which operates in 14 countries across Europe, has launched in the UK.
The group said that in addition to traditional payment transactional solutions its range of value added propositions including multi-currency settlement and it is one of a limited number of acquirers in the UK to offer acceptance of China Union Pay (CUP).
In April 2013 the UK is set to relax travel visa procedures for Chinese citizens making it a more appealing destination for Chinese tourists who, it is estimated, spend 30% more than other nationals when on holiday. With many Chinese citizens possessing one of the two billion CUP cards in circulation and attracted to luxury European brands, CUP acceptance is set to become increasingly profitable for UK merchants as CUP has an average spend of £2,000 per transaction.
SWIFT has announced that it has successfully completed the first phase of the global payments innovation (GPI) initiative pilot, clearing the way for the go-live of the service in early 2017.
Sentiment in the financial services sector deteriorated in the three months to September, as firms digested the challenges of lower interest rates and the uncertainty caused by the vote to leave the European Union (EU), according to the latest CBI/PwC Financial Services Survey.
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.
The proposals of both US presidential candidates could shake up operating conditions in several sectors, reports the credit ratings agency.