Thanks Brett,
A good summary and history of the background to this story, which I have been a little too heads-down to follow. I had not appreciated the nature of these cables and how they might instil such concern in big business as well as big government.
What is one supposed to do with such information if you happen to be provided with it? Continue to whisper it around a select circle of those who are deemed to be in the club, or make it open for all. It might not be fair or even right that these cables are made public, but the horse had bolted already and Assange is the messenger? (Did I miss it, but maybe those 'secrets' been 'sold' on already anyway?)
13 Dec 2010 17:04 Read comment
Well, the last time I did it, it was about £12, and covered with a warning to the effect that checking your credit too often can 'score' against you (just as the warning you get when a 'lender' needs to check your rating - do too many checks and you are a bad or suspicious profile - snookered?)
24 Nov 2010 16:03 Read comment
Oh I love a good debate. Shame I was late to this one! We encounter PCI often and it never ceases to amaze how differently the standard can be applied. In the end, its about auditing those that handle CC data to ensure they show due diligence in the handling of that information. Even an EMV Chip and PIN card can be used in CNP fraud if the security number is recorded for example, so although I am not a fan of PCI, you need some way to audit that, even in a EMV world.
24 Nov 2010 14:43 Read comment
Excellent blog Brett. Its a wonder there aren't more comments on this forum - always so quiet to comment.
It could be being middle aged and grumpy, or being stung several times by banks, building societies and fund managers alike, but my trust is very low. I am a total cynic these days when it comes to banking offers. Like getting a parking ticket, the lack of trust comes from having no effective channel to challenge the actions of a bank. And they can turn on you in an instant. If you have 'personal banking' of one type or another, you will find them toothless in the face of corporate policy and procedures. If you take to an Ombudmans - good luck. And the FSA ? Forget it for retail. You need that guy off the TV to get you compensation, or Watchdog.
In the end, I've gone back to my old bank, because they screwed me the least (a while back) and at least have a 'relationship manager' who knows me personally and actually makes it looks like they work on my behalf when I ask a question. Its always the personal touch that builds trust.
24 Nov 2010 14:15 Read comment
It would definitely help if your credit rating was not affected by a query. Last I knew, just checking your rating is counted and do it too often and it counts against you in future transactions needing clearance? So being too proactive can harm your credit rating?
24 Nov 2010 14:01 Read comment
OMG. This saves handing over your Starbucks card? So it saves carrying a piece of plastic around, but means you have to install, setup and manage loads of Apps to replace that plastic? I think I'll continue to pay cash and save the bill shock.
08 Nov 2010 11:30 Read comment
Graham,
I am not really sure what you are trying to say? I'd rather say that it sounds no different to any App creation. The ability to cost justify an Apps potential is as hard as ever (no harder). Any adoption is still difficult to model. Are you justifying it on hard quantitative revenue terms, or ethereal qualitative measures such as increased brand awareness, consumer stickiness etc.
How are financial services Apps going to be any different - not many retail consumers are going to rush to download it unless it either offers to make them money (not you), saves time or it hits that elusive 'cool' button - preferably all of the above. An App that tells the right stock to buy or sell might be of value to some - but you can do that with a web site or SMS messaging.
Apps work when they are used frequently, and I don't want to check mortgage rates, savings rates, banks offers or even balances on a regular basis, so I am not sure what interest I would have in a FS App. My bills are paid paid by direct debit already, and any that aren't can wait til I get home to a PC to action it.
The only App I can think off that would be compelling is one which allows me to pay for stuff. Pay for a Taxi, a sandwich, a magazine, a pint, anything under about £25. That would require a trust relationship between the merchants and the App-bank, that a transaction response code is proof that the Bank has honoured the payment. For it to be interesting to merchants, the banks would have to get together, like Link for ATMs or Payforit for Mobile Operators, to all support it, and I think that's always the sticking point. And by the time you've fired up the App and exchanged whatever challenge/response you need to exchange - a PIN Credit Card transaction is just as quick. Cash even quicker! We'll get there but noone said it was easy.
08 Nov 2010 11:12 Read comment
Hmmm. The UK has standards for Mobile Payments - its called Payforit, but I don't see that it has driven a rush to 'paying with your mobile'. Its not heavily promoted by the Operators themselves and still seen as a little clunky (partly to ensure the consumer is not suckered into unwanted purchases).
So far NFC payment trials have all been a case of sticking a credit card onto the phone - so nothing really mobile about it - its just the card network again.
Boku (mentioned in this post) reverts back to brokering the use of SMS billing afaics which still works well but has limitations (no refunding, no txn description etc) and they targeted the signup of Merchants wanting to sell their stuff and have the customer stick it on their phone bill (presumably its the merchant base which is of interest).
Google is their own standard. Apple is their own standard. They both do pretty well creating their own eco-systems, so I don't think a payments standard will prevail - too many conflicting parties.
PayPal mobile works well for me, but its linked to a bank account and these days I mostly do payments online
My guess is a nice mobile Payment App will surface that gets consumer attention and takes off to become the new 'standard'. Google/Apple/Nokia etc have the benefit of at least being 'trusted' to be there tomorrow, rather than a new entrant at this point.
05 Nov 2010 12:46 Read comment
I agree with Mark. A monthly email communique is about as much as I want to see from my Banks. Lets face it, everything is geared to promotion, account stimulation and 'sales' of something. Occasionally there is a useful reminder or article, but too often its a loaded survey or questionnaire invitation.
03 Nov 2010 08:16 Read comment
Hmmm... noone said solicitors are any more law abiding than the rest of us. No more than doctors, policemen, clergy, and of course bankers.
You could say they are in the ideal position to get data through the many loopholes.
You would think however, that one case of fraud from such a firm, followed by another, would be a good indication of foul play - doesn't seem so hard to trace?
02 Nov 2010 21:57 Read comment
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