Latest opinions that Jeremy Light has shared on Finextra

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Jeremy Light

Co-founder

Fourdotzero

Member since

24 Jun 2009

Location

London

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Jeremy's opinions

Is Bitcoin a Store of Value or a Payment System

It is a while since I have written about Bitcoin, but I continue to be fascinated by it. In particular, by Bitcoin’s ability to endure and continue serenely on in the face of all manner of controversies and headwinds. Possible Outcomes I have a long-held view there are only two possible outcomes for Bitcoin – it will either disappear, or it will be...

13 November 2017 /payments Innovation in Financial Services

The Atomisation of Payments Part 2

Payments are atomising… In part 1 of my blog on atomising payments, I explained how payments volumes are likely to expand 25 times or more in the future, resulting in trillions of new payments. In part 2, I explain a precedent for this atomisation and its implications, and what the payments industry needs to do. Precedent and Implications Ato...

09 October 2017 /payments Payments strategies 2015-2020-2030

The Atomisation of Payments Part1

Payments are atomising.. In my view, electronic payments will accelerate dramatically over the next decade, driven by the "atomisation of payments." New business models are emerging, enabled by technology, resulting in increased transactions that will scale and scale. We are fast moving from batch to real-time transactions, with payments...

02 October 2017 /payments Futuristic Banking

An alternative RTS for strong customer authentication

The PSD2 regulatory technical standards (RTS) for strong customer authentication and secure communication are proving difficult to finalise. With the EBA rejecting the EC's amendments to its final draft RTS, it is now up to the EC to publish the final text, subject to scrutiny by the EU Parliament and EU Council. With this saga running on and on, ...

31 July 2017 /payments /regulation

Sleepwalking towards a cashless society

In the UK, last year I estimate there were roughly 3 billion contactless transactions. This year, I predict this number will rise to 6 – 9 billion contactless transactions*. This is a huge increase and shift in consumer behaviour, with a large proportion of these transactions coming at the expense of cash. In 2017, expect a corresponding reduction...

06 February 2017 /payments

The three Cs of PSD2 success - compliance, collaboration and consent

The measures in the PSD2 (and in the UK, the CMA banking remedies) to open up consumer banking data to third parties will undoubtedly lead to new innovations and consumer benefits, but I see three challenges: 1) a potential gap between expectations on using open banking consumer data, and the reality of what is actually allowed 2) public understand...

23 January 2017 /payments /regulation

PSD2 APIs and the risk of fraud

Card-not-present (CNP) fraud is a big problem and is getting worse. It is possible its severity and the way it is outpacing ecommerce growth have influenced the drafting of the PSD2 and EBA RTS and defining the required levels of customer authentication and exemptions. Indeed, I attended an event recently where CNP fraud statistics were used to em...

10 January 2017 /payments /regulation

Bitcoin, a Living Service

I was asked recently why Bitcoin is becoming popular with millennials. To answer, I have three points. First, Bitcoin works. As the Bitcoin evangelist, Andreas Antonopoulos pointed out in a tweet recently (his twitter feed and youtube videos are a good source of Bitcoin insight), banks are making press announcements about successful international b...

14 November 2016 /payments

Metcalfe’s Law, Network Effects and Numbers - the Economic Network Called Bitcoin

Bitcoin is an economic network – it started from nothing seven years ago and continues to grow fast. Its economics are much more interesting than its technology. The technology isn’t new or revolutionary, but the application of the technology has created a new economic phenomenon, making Bitcoin fascinating to observe. The Bitcoin network is multi...

30 May 2016 /payments

Do payments move on rails? - answer: they don't

I have noticed an increasing casual use of the term “rails” to describe payment systems, in particular “card rails”, “ACH rails”, and even “blockchain rails”. But do payments move on rails, are there wagons of cash moving around the country on rails between banks and other institutions when payments are made? Obviously, in the literal sense this is...

09 May 2016 /payments /retail

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