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Payments systems visions, strategies, trends, pilots, forecasting, and planning for the short-, medium-, and far-term.
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Mass adoption of smart, connected and mobile devices globally has been transforming consumer behavior and dramatically evolving shopping experiences. Every device is now a commerce device. In fact, Juniper Research estimates that by 2015, an overwhelming 2.5 billion consumers globally will buy digital goods via mobile devices. Getting there has be...
29 May 2013 /payments
What lies in store for corporate payments over the next ten years? The biggest evolution in the next ten years, and one that has already begun, is the move to XML. “Really, is moving to use XML such a big deal?” you might ask. Well, it is much more than just changing the syntax of what gets sent to / from the bank. I think ten years from now, ...
13 May 2013 /payments
Following industry consultation, the US CFPB (Consumer Financial Protection Bureau) has issued the awaited amendments to Dodd Frank Section 1073. The new 2013 Final Rule is effective from October 28, 2013. The three issues of greatest concern to US banks have been amended: It is optional, in certain circumstances, to disclose fees imposed by a d...
01 May 2013 /payments
A critical component of any business success is being able to accept payments for goods and services. At the same time, we are keenly aware of the risk associated with doing so. Whatever one trades, whatever the business, any and every credit or debit transaction processed will involve sensitive personal information. This data has to transmitted a...
26 April 2013 /security /payments
As rumor says, Apple will introduce new fingerprint scanning to open iPhone but may also introduce fingerprint to accept payments. In technical standards it sounds really secure solution, but there are some issues which makes me wonder is this level of identification needed and will it be market standard. And do they require same finger print scan...
11 April 2013
If Apple will introduce iWatch, on my wish list is payment app which contains my iTunes card info. With this app I could pay my purchases, accept my kids iTunes purchases but also on stores in real world, not digital cyperland. This app would also contain real time info on stores where app is accepted. For merchant this app would be interesting, ...
02 April 2013
On 20 March, the UK chancellor presented this year’s national budget. It announced a ‘Regulator for payment systems - The Government will bring the payment systems into a competition-focused regulatory regime. It will formally consult on this shortly after this Budget.’ Today, HMT has issued the consultation paper; it is accessible here. For the ...
26 March 2013 /payments
It's sunny day and Simon steps in to local grocery store wearing his Google classes. He is thirsty. Grabbing a can of soda he walks to check out desk. "Google Class - payment" says Simon and his classes bring him menu screen where are Cards and Checkout as option. Same time Google class GPS system locates him to Jim's Grocery store next...
25 March 2013
The existence of a mandated end date for SEPA migration is frustrating to those of us who do not like to feel that someone else should dictate our priorities. Treasury has plenty of them already, so it is disconcerting that an issue of compliance (bringing with it cost, resourcing issues and quite possibly a minefield of political issues) has been...
21 March 2013 /payments
Increased consumer spending? Check. Increased disposable income? Check. Increased household net worth? Check. Decreased current consumer confidence? Wait, this can’t be right. If all the standard economic measures of well-being, like gross domestic product, personal consumption expenditures and income indicate a recovering economy, why is present s...
19 March 2013 /payments
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