224 Results from 2016, /payments
Retired Member
Consumer card transactions overtook cash payments for the first time in 2016, according to Euromonitor. Moving away from cash and checks is a signal of modernizing economies, more efficiency and less fraud—in a conventional sense. But as card payments grow, so do card crimes. In part one, we looked one driver of increased non-cash transactions, ...
13 December 2016 /payments /regulation
Rohas Nagpal Chief Blockchain Architect at Hybrid Finance (HyFi) Blockchain
Our ancestors started off with the barter system – something like “I will give you 2 buffaloes in return for 5 shiny new super-sharp axes”. Soon they realized that the barter system had too many limitations – everyone didn’t want buffaloes, buffaloes were neither divisible (not too many people would want 0.35 buffaloes) nor very portable (imagine ...
06 December 2016 /payments
You don’t need to be an actuary to notice the correlation between the growth of ecommerce and the evolution of online merchant-based payment fraud. This is due two main factors: The first is the proliferation of Do It Yourself websites. These let merchants get their websites looking professional and legitimate in just a few clicks. All they have t...
01 December 2016 /payments /regulation
When sending an important parcel through a courier, you wouldn’t want it to get lost or end-up with the wrong individual. Think about the last time you’ve sent a birthday present through a courier. You’ve personalised the package, labelled it up with the right name and address details before handing it over to the delivery company, ensuring it’s f...
30 November 2016 /payments
Brave New World Would you believe, we still rely on fifteen-year-old technology for today's internet payment security? So much has changed in that time, the exciting news is we’re about to make a big leap, into a very different-looking future. Internet shopping is no longer about a simple laptop or desktop browser. Consumers aren’t happy to be co...
22 November 2016 /security /payments
The term “cashless society” is bandied around a lot. While there’s little chance of physical currency becoming obsolete any time soon, there’s no doubt that the rapid adoption of digital payment methods has opened up some exciting opportunities for businesses. But what about non-profit organisations? How are they handling the ongoing migration from...
18 November 2016 /payments
Anthony Walton CEO at Iliad Solutions
We were talking in the office recently about the pressure CEOs face when things go wrong. If a payment system falls over, and it hits the headlines, it can have a devastating impact on the business. As a results, we thought it would be useful to list the top ten things that CEOs need to know about payment testing – and here they are: Software tes...
14 November 2016 /payments /regulation
Jeremy Light Co-founder at Fourdotzero
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
Criminal activity, including fraud, is ancient. But there is a type of merchant-based, online fraud relatively new to the payments industry. Known as Transaction Laundering (TL), this form of fraud is spreading quickly, often undetected by Merchant Service Providers (MSPs), including payment processors and acquiring banks. MasterCard defines TL ...
07 November 2016 /payments /regulation
Adedeji Olowe Trustee at Open Banking Nigeria
The Nigeria Inter-Bank Settlement System (NIBSS), along with numerous banks, have launched mCash as an alternative payment system in the populous country in Africa. mCash rides on USSD and anyone can easily use the code to make payments at large stores, corner shops, etc. The mCash payment system, which is automatically available to over 28 million...
03 November 2016 /payments
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