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That was my first thought when I read a couple of days ago that Metro Bank's market cap had plunged 97% from its peak five years ago (from £3.5B to £100M).

IP Insurance and Litigation Financing must be marketed more aggressively. I know a lot of people who don't attempt to patent their products and services only because of this $1M fallacy. 

On a side note, what does "silly patent" even mean? It's not like I apply for a patent and grant it myself. Shouldn't it be the patent office's job to discriminate between "not silly patent applications" and "silly patent applications" and only grant patents to the former?

TY @ChrisFreeman for the clarification.

I read that the said decree covers only FPS payments. Is EURO reimbursement even on the cards? 

(The last I checked, FPS covers only GBP payments within UK.)

Where it's not banned, Surcharging is obviously one way but why not propose Zelle via TCH-RTP or FedNow? 

A2A RTP MOPs like that are gaining traction for B2B payments in UK (FPS), India (UPI-IMPS), etc. Since they have no / low MDR, they sidestep the friction of Surcharging and the ensuing risk of loss of sale.

TY @JohnBertrand.

I just started reading the Supreme Court judgment on Philipp v Barclays case. It says "The Financial Services and Markets Act 2023, which received Royal Assent on 29 June 2023, provides for a mandatory reimbursement scheme."

Seems like the matter of liability in the case of FPS-based APP Scam is already sorted?

@JohnBertrand: TY for the data. "0.1% (10 bps) seems low" means "All well, nothing more needs to be done to control APP Scam"? (Or did you mean 0.1% still seems too high a scam rate and something more needs to be done"?)

The TPV of UPI-IMPS in India is $1.5T, of Zelle-TCH-RTP in USA is $0.5T. I don't know the figure for UK FPS but assuming it's around $0.25T, we arrive at a total TPV of $2.25T between UK, USA and India. 

If APP Scam - I refuse to call it APP Fraud - touches $5B, it would be 0.22% of TPV. With a combination of CoP and my Three Strike Rule To Eliminate Cybercrime, I'm guessing the scam value can be brought down to below 0.1%. Is that good enough?

If not, any idea what's the global benchmark for allowable scam? 

Nice post. 

I've heard of DevOps and FinOps.

Keen to know what exactly DevSecOps means in this specific context.

I'm predicting that Apple will win this "Abuse of Dominance" lawsuit. If not by contesting "abuse" but by contesting "dominance". With only 52% market share in USA, I doubt if any judge will find Apple to be "dominant" in the sense of Sherman / Antitrust law.