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I get sending fiat currency from one country to another but what does it mean to send large amounts of Bitcoin from Dubai to Russia? #SeriousQuestion

"Weekends, time spent with loved ones, and sleep didn’t need to be sacrificed to keep critical payments and ecommerce services running."

LOL. You must be very lucky if you've experienced this. 

In every payments op that I've been involved, this is a utopia even when we're not buffetted by a couple of Black Swan events at the same time.

I normally tend to wonder whether Retailers Want To Have Their Cake And Eat It Too? But, in this case, I'm on their side.

Also, SCA is not going to protect consumers' interest by any stretch of imagination. Lack of SCA may lead to fraud, which is a < 1% problem but, going by the 2FA experience in India for the last 10 years or so, SCA will lead to tremendous friction and failed payments, which will easily be a >10% problem. Net net consumers will stand to lose, not gain, due to SCA.

There's no doubt that frictionless payments reduce abandonment, improve conversion rates and increase revenues. But I'm a little confused by what you're shilling: "Though creating a payment platform in-house may seem to PSPs like the best way". Did you mean Merchants? Because the raison d'être of PSPs is to create a payment platform inhouse and I'm struggling to understand your pitch to PSPs to avoid doing that.

When I wrote When Will Fintechs Sell What Consumers Want To Buy? in 2018, I was alluding to Credit Card. Since then, there has been a trickle of credit card offerings from fintechs / nonbanks viz. Petal, Apple Card. Hope Railbank's Credit Card As A Service platform changes that to a wave.

While I'm personally gung-ho about the prospects of Railbank's CCaaS, I'm a little perplexed by its own role model "Fintech has changed the face of much of the banking industry". With less than 1% of bank accounts in the USA (Source: Cornerstone Advisors), fintech has done no such thing.

In fact, as I've often predicted in the past, credit card will be fintech's real chance to change anything about the banking industry. Not yet another bank account or payment app or PFM / MoMMA.

I never thought my joke will come true but it has. 

I read on Quora today that a certain electric company in Bombay, India, is offering loans for paying monthly electricity bills.

So, subscriptions are not going to challenge loans.

After reading this tweet, I'm not so sure if I want my bank to move to the cloud. Pay-per-Use paradigm of Cloud will most likely deliver inferior CX.

A2A payment apps (PayM, myBank), PFMs (Mint, Kublax) have been operating (and dead) for ages without requiring Open Banking. I don't see anything in this post - or anywhere else for that matter - that explains what more revenue profit opportunity exists for banks from Open Banking-based Payment and PFM providers?

And, as I pointed out in my comment on this Finextra article, I was terribly surprised that the PAYMENTS category is altogether missing from the Open Banking App Store.

Compared to Twitter, LinkedIn et al, who are quick to shut access to third party apps that gain too much traction basis customer info they get from them, banks have done a far better job of supporting Open Banking (I don't know why). 

According to an article I read recently, over 40 countries have Account-to-Account Real Time Payments now. The first three to implement it were: 

* 1973: Japan - Zengin

* 1987: Switzerland - SIC

* 1992: Turkey - TIC-RTGS

UK launched FPS in 2008. India launched IMPS in circa 2010 and followed it up with the mobile payment equivalent UPI in 2016.   

Keen to know what timescales you have in mind when you refer to TIPS and NPP as "early adopters".

A restaurant can deny access to someone based on suspicious behavior. An ecommerce company can refuse to deliver to a certain zip code because it heard in the news that there was some unrest out there. Loss of sales is the only consequence they face if their preventive action turns out to be unwarranted based on ex-post facto analysis. That's not the case in banking. Apart from loss of fees, banks also face regulatory action and raise doubts about their own liquidity position if they deny / delay payments on account of suspicions that are proven wrong later. AI / ML tech can help spot criminal behavior before the fact. But, as of now, they have fairly high False Positive rates. Until their accuracy reaches, say, 99%, I'd think banks should stick to taking action only after the fact. And an interbank utility that helps them do that at a lower cost and higher accuracy is a good enough step in the right direction for now.