4855 Results from /payments
Nahum Goldmann Partner at BelPay.be
http://money.cnn.com/2013/06/11/news/world/bank-error-napping/index.html Speaking of transaction banking and exception management, a bank clerk nodded off for a second while processing a transfer request and held down the number 2 on his keyboard, changing the amount from 62.40 Euros to 222, 222, 222.22 Euros, according to testimony before a Germa...
13 June 2013 /payments /regulation Transaction Banking
Retired Member
The evidence is there that people are definitely embracing new ways to shop – be it Amazon, iTunes or even supermarket shopping with home delivery. In many cases, cash isn’t even an option when paying at these new outlets – meaning consumers are forced to use alternatives. The meteoric rise of PayPal is a good example of this. However, around the...
12 June 2013 /payments
Contactless payments are on the cusp of becoming main stream. Currently consumers can use the quick and convenient payment method in a number of shops and restaurants, including EAT and McDonalds. According to the UK Cards Association, in March 2013, there were 32.5 million cards with contactless functionality whilst there were 147,000 contactless ...
11 June 2013 /payments
Eric Smith Senior Pre-Sales Consultant at Dynamic Partners
The latest news from the UK Payments Council, especially on the back of the recent study by Market Platform Dynamics shows that the use of cash is greater than ever, despite the plethora of electronic and mobile alternatives. For those outside the payments industry, the true cost of cash is invisible – they think it’s ‘free’, But actually, physical...
10 June 2013 /payments
Everyone wants to be part of the mobile payments revolution. By now most players realized that there is no money in payments. The next stampede direction - Big Data. Who wouldn't want to fight over that dessert. Yet, as Harry Ellis (Die Hard) put it: "It's not what I want, it's what I can give you". (He became extinct when he failed to de...
10 June 2013 /payments Innovation in Financial Services
Andy Morris Risk Business Solutions Consultant at ACI Worldwide
Mobile bared the brunt of some bad press this week. Firstly, the story that NFC could be compromised through a new app, secondly the charger that could penetrate the iOS operating system and thirdly the emergence of a new breed of consumers labelled as “paynuphobics” – purportedly 26% of adults who are scared to use online and mobile because of se...
07 June 2013 /payments
The Role of Service Providers One of the biggest complaints about B2B and perhaps true in the early days is that this method is too expensive for small and medium companies, and that these B2B programs were all driven by larger customers who essentially left their trading partners with little choice about participating. I’m not sure that the state...
06 June 2013 /payments
Every time the topic of mobile wallets comes up, an inevitable conversation always occurs regarding the security of the wallet and the risk of phone theft. What happens when you lose your phone? Doesn’t this put the customer at risk? Won’t we see an increase in fraud? Now answer this question: How secure is your current wallet? What would happen a...
If you want loyalty, get a Labrador as a South African banker once told me. Yet, bankers are surprisingly loyal to one thing – their legacy systems. Often, when replacing legacy payment systems, banks just ask for exactly the same as they already have – without looking at the costs savings and opportunities change could bring. The analogy is like b...
04 June 2013 /payments
Contactless cards are in the "limelight" again. First it was M&S, then London buses (in fact, BBC reported on that issue back in February), now it's Amazon. Let's start with the latter. I highlighted the "CVV-less" problem of Amazon last summer. Amazon claims they "employ impressive fraud detection systems". One ...
04 June 2013 /payments Innovation in Financial Services
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