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A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.
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Brett King CEO & Founder at Moven
Recently I have been embroiled in an interesting debate on Finextra.com regarding the death of cash, or as some may classify it, the premature assassination of cash. Connected with this the threat of BitCoins have recently been extolled throughout the media with the intensity only normally afforded more existential threats such as terrorism or lar...
08 August 2013 /payments /regulation
Retired Member
Just "me, me, me!": although there are some "contactless EMV" standards, each card scheme (Visa, MasterCard and Amex) requires separate testing and certification of contactless terminals. That is simply insane! Add transit-related issues with NFC to the equation (bearing in mind that transit is the key driver for mobile payme...
07 August 2013 /payments
Last post before the summer break. A mid-year revision of my predictions for 2013 made in December last year: 1. Bluetooth Low Energy (BLE) to be on the rise. Tick, tick, tick. Apple is using it (as part of AirDrop), as does Android (for Android Beam - same link) and Microsoft. Moreover, in a surprise twist, The Tile raised $2.8m on Kickstarter f...
30 July 2013
We all like making predictions (and like being right). That's fine when we are doing that for fun. When it comes to business, you'd better "know your shit" (and know when you don't). Getting married to own views and assumptions can cost you money or your (corporate) life. Just ask Kodak, or AltaVista (who refused to buy Google for $1m.....
29 July 2013
Pat Carroll Founder/Executive Chairman at ValidSoft
The breaking news from the US indicating that over 160million credit and debit card numbers have been stolen, whilst not unpredictable, is still quite staggering. Early estimates suggest around $300 million dollars has been stolen, but this figure looks likely to increase dramatically. It appears that a group of criminals utilising malware to in
29 July 2013 /security
Card fees are to be capped in Europe. There is a lot of debate around that decision, and the jury is still out as to the mid- and long-term implications. For example, although Amex is not directly affected by the capping, they can be put under (a lot of) pressure too, by the retailers. However, there is another (major) casualty in the making: iZe...
25 July 2013
PayPal are bearish on cards - "Plastic Credit Cards Will Become Obsolete in 5 Years". Surprise, surprise! Considering that MasterCard are introducing a digital wallet fee which will affect mainly... PayPal (as well as their... plastic card launched just six months ago), that statement is not surprising. As Mark Twain put it, "the re...
25 July 2013 /payments
Teenage children of our friends taught me the most typical response they often give to their parents - stretched out index fingers and thumbs forming "W". "Whatever..." (If you then flip hands down, you get even more emphatic message - "Whatever, Mom!..") That's how the payment industry is approaching fraud and securit...
23 July 2013 /payments
Secure Electrans are on a mission to combat e-comm fraud. The concept is simple - give consumers a free PIN pad for home use, so that every e-comm transaction can be done with the same level of security as in a physical store, and participating merchants can benefit from "a dramatically reduced fee." The difference between "cardhol...
18 July 2013 /security
The rumours about iPhone and NFC are being circulated again. That caused a new wave of excitement within the NFC community where NFC-enabled iPhone is seen as the white knight. Yet, if (IF!) Apple introduces NFC on iPhone that won't change much, if anything at all. Here's why. The largest and the most compelling use case for NFC on a mobile phone ...
17 July 2013 /payments
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