MasterCard and Visa push mobile payments system

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MasterCard and Visa push mobile payments system

MasterCard and Visa push mobile payments systems
MasterCard and Visa yesterday both unveiled new plans for rival mobile payment services. MasterCard revealed its “MasterPass” virtual wallet system, which will allow customers to pay for goods by scanning the barcodes in-store on their smartphones or tablets, instead of queuing at checkouts. eanwhile, Visa announced a new partnership with mobile phone manufacturing giant Samsung, which will see the technology company incorporate Visa’s “PayWave” secure mobile payment app in future devices.
The Daily Telegraph Business, p. 7

Pension fees reduced
Some Britons could see their private pension pots boosted by up to 8 per cent after charges on industry benchmark plans were capped at 0.75 per cent.
The Daily Telegraph Business, p. 4

Wintry weather and economic fears blamed for January mortgage dip
The British Bankers’ Association yesterday reported that mortgage approvals fell unexpectedly last month, with experts blaming snow and cautious homeowners for the dip. The BBA figures showed that gross lending in January was £7.7bn, down from £8.4bn in December.
The Daily Telegraph Business, p. 6
Also appeared in : Financial Times, p.4, Independent i, p.42, The Daily Telegraph Business, p.6, The Independent, p.48, The Times, p.37

Builders bullish after boost from Bank lending scheme
A shot in the arm for the mortgage market from the Bank of England’s Funding for Lending (FLS) scheme and government initiatives left two of Britain’s biggest housebuilders – Persimmon and Bovis – on distinctly bullish form yesterday.
The Independent, p. 47
Also appeared in : Financial Times Companies and Markets, p.22, Independent i, p.43

Osborne rules out full nationalisation of Royal Bank of Scotland
Royal Bank of Scotland should be more focused on UK small business, corporate and personal banking, the chancellor said yesterday as he ruled out complete nationalisation of the bailed out bank. George Osborne told parliamentarians on the banking standards commission there were “very considerable obstacles” to nationalising RBS and splitting the 82% taxpayer owned bank into “good” and “bad” parts. It would cost £8bn or £9bn to buy up the shares the government did not already own.
The Guardian, p. 21
Also appeared in : Financial Times, p.2, The Times, p.35, The Times, p.39

BBA to retire as operator of Libor rate after scandal
The Government has begun the process of finding a new operator of the scandal-hit Libor rate in the wake of revelations that staff at major banks manipulated the index of borrowing costs.
The Daily Telegraph Business, p. 7
Also appeared in : Financial Times, p.2, Independent i, p.42

The time for remorse is not over, Carney tells bankers
Mark Carney, incoming governor of the Bank of England, rounded on the financial industry last night, warning that regulation alone could not rebuild trust.
The Times, p. 31
Also appeared in : The Daily Telegraph Business, p.1-6, Financial Times, p.2, The Times, p.34

JPMorgan sees surge in international revenues
Executives at JPMorgan Chase will announce a jump in international revenues and increased cross-selling between the commercial and investment banks today in the first investor day since the “London whale” trading debacle.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 18

Goldman ‘to cut jobs’
Goldman Sachs is to begin a fresh round of job cuts this week, according to reports.
The Daily Telegraph Business, p. 4
Also appeared in : Independent i, p.42

The above articles appeared on 26/02/13 reproduced with the kind permission of Kantar Media UK. All rights reserved.

Charterbridge Private Financial Planning, Independent Financial Advice, Thornbury, Bristol.