The Social Trade Organisation is releasing the world’s first professional free, open source, on-line banking software – Cyclos 3.7.1. Cyclos enables communities and regions to create their own currency alongside the national currency and is used by more than one hundred organisations around the world to help stimulate growth (view press release).
Cyclos offers a complete on-line banking platform with additional community modules such as an e-commerce platform, a card module and a messaging and notification system. The Cyclos project started in 2003 and was created by the Social Trade Organisation which has been working for two decades on a broad range of instruments and approaches that can support private or public initiatives to make money work even in conditions of a semi-permanent economic depression.
The main features of the Cyclos software include online banking, SMS banking, IVR banking and cards and POS modules, which create opportunities to address new sectors, such as remittances, consumer loyalty programs, mobile shops, cash-in cash-out services, taxi payments, campus payment systems, prepaid cards, and low cost ATM’s.
Cyclos has become the standard for open source ‘home-banking’ software and presented at the recent Cartes 2012 event in Paris which is the world’s leading Security, Payment, Identification and Mobility technology event.
In another big deal for the global payments industry this week, credit card firm Visa has inked a partnership with digital payments processor PayPal.
The five fintech startups joining credit card company’s Capital One’s new fintech accelerator in Nottingham have been named, including Credit Kudos, Multisense, Pariti, Warwick Analytics and WealRo.
Europe continues to see rapid adoption of emerging payment technologies as consumers in digitally savvy countries like Sweden and the UK continue to drive adoption of methods like contactless across the region. In our latest infographic we take a look at what the latest numbers tell us about the evolution of payments in the region and what they tell us about the future of cash, cards and contactless.
According to new research commissioned by global payments provider TNS, more than a quarter (28%) of people aged 25 to 34 have already made a biometric payment, and are leading the way in the take up of this new technology.