4855 Results from /payments
Retired Member
Anti-money laundering (AML) - as well as KYC - is something which every company serious about payments has to deal with. AML requirements are pushed by the industry regulators (who are not always in touch with reality...) and are seen by the industry as the (un)neccessary evil - none of those measures prevent multi-billion (!) money laundering sc...
10 July 2013 /payments Innovation in Financial Services
Eric Smith Senior Pre-Sales Consultant at Dynamic Partners
I attended a course some months back about developing a mobile proposition. It was suggested that with the growth of mobile payments and banking, the importance of existing “older” channels would decline. Whilst in terms of sheer numbers, that may be true, this shouldn’t be read to mean that channels such as ATM and POS will disappear - far from it...
10 July 2013 /payments
Imagine a VC meeting to pitch an idea in the 90s. The pitch is that from a phone you will send short messages, limited to 160 characters, it will be the world’s most dominant communication medium, a market worth 1.6 trillion dollars worldwide and the only way you’ll actually communicate with a teenager. Heavy users will actually develop new muscle...
05 July 2013 /payments
Elizabeth Lumley Global FinTech Commentator at Girl, Disrupted
I've been to a fair amount of FinTech, financial services and payments conferences in my time. I once sat through one where an old man in a badly fitting suit read passages from the Payments Services Directive...line by line...(I still have flashbacks). However, outside of the non-stop party that is European banking regulations, nothing screams Fin...
04 July 2013 /payments Disruption in Retail Banking
Two years ago, Arriva won some awards for their m-ticket solution. The concept was dead simple: a mobile app that displayed "dynamic" barcode image. Masabi offered a similar concept for the railway ticketing, but as barcode infrastructure did not spread much, being superseded by contactless smart ticketing, Masabi went to the US in sear...
03 July 2013 /payments Innovation in Financial Services
The first step to solving a problem is to admit you have a problem. I have been involved with card fraud systems for over 20 years and too many times when I have discussed fraud I’ve been greeted with the opening line “of course we don’t have a fraud problem here” I was struck when seeing some fraud statistics for 2012 released by RBI for India ho...
03 July 2013 /security /payments
The UK government is encouraging the use of e-invoicing across all central government transactions. Mandating will be considered as a possibility, if it’s seen as an effective way to spread best practice. From our perspective encouraging e-invoicing is a great step. It will support the government’s wider aim to help SMEs grow and compete for publi...
02 July 2013 /payments
NFC fanatics are anxiously awaiting the EMV liability shift in hopes the card networks’ mandates will drive NFC adoption at the point-of-sale (PoS). While many are already heralding EMV as NFC’s savior in mobile payments, it’s far too early for celebrations to ensue. Yankee Group expects the EMV liability shift will have a profound impact on NFC...
2011...2012...2013… each have been touted as the year that mobile payments will reach a tipping point, yet it would seem that adoption is lagging behind the news hype, at least in the UK. While mobile banking is now mainstream and accepted (even demanded for by some consumers), we just don’t seem to have taken to mobile payments at the point of sal...
01 July 2013 /payments
In my last blog, I examined how a Payment Factory can help improve global cash visibility across an organisation. Now I would like to examine that in a little more detail. I discussed how banks connected to SWIFT will send out MT940 messages (end-of-day account statements), which can be forwarded on to the different back office systems. That leads...
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