We have received news of the following recent management changes:
"New competitors are taking on Visa and MasterCard’s interchange pricing scheme as both firms have been busy defending themselves against claims of duopoly pricing. The potential for competitive alternatives may never be better. Are card issuers and the networks (primarily Visa and MasterCard) vulnerable to competitive card-based alternatives? How will this story play out?"
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Quote of the week:: From TranSys, the operator of London's Oyster Card system: "The technical problem which affected Oyster readers at London Underground stations has now been resolved and all stations are all fully functional. The problem affected pay as you go users only. Steps are being taken to ensure that this does not happen again and we will undertake a full root cause analysis. TranSys regrets any inconvenience caused to Transport for London’s customers."
You can find all of our Weekly Wrap summaries in the Payments News Weekly Wrap Archive. They're published every Saturday and look back at the highlights of the week's news. Please share on how we can improve the Weekly Wrap!