4855 Results from /payments
Retired Member
For years, dealing with different domestic and international payment and account statement formats was a primary challenge within the domain of corporate payments. In this format-centric era, the concept of the Payment Factory/Payment Hub was created and many large corporates embarked on implementations that centralised the payments initiation pro...
22 April 2013 /payments SWIFT Matters
Nick Ogden Chairman at Ogden Research
It is a real irony that when a business asks it’s Bank for financial support, and gets told “no”, and finds alternative funding, it pays the money it has raised elsewhere straight back into the Bank that said “No” so that it can use the money within its business. Strange, but true. Every business requires payments to function on a daily basis. Hi...
22 April 2013 /payments Innovation in Financial Services
A side note first, to put things into perspective: to address any of 6bn mobile subscribers, anywhere in the world, all you need is a 15-digit number (16-digit, in some cases). To send someone an email, anywhere in the world, you need a simple name@domain.TLD address. To send someone money, in 2013, you need this: 1. Beneficiary bank SWIFT 2. Acco...
19 April 2013 /payments Innovation in Financial Services
I am often asked to deliver digital channel concepts, products and services for financial institutions that focus on proven market contenders. Yet, as a user, I find myself using services that have been called disruptors. That description carries a negative connotation in circles outside of innovation, but disruptors often become proven contenders...
19 April 2013 /payments
Last evening I attended a presentation by Tony Sales, Britain's Greatest Fraudster ("ex", actually - but he is still as sharp as ever). Although he didn't tell anything new in respect of how online and offline payment fraud is carried out, I could tell from the audience's reaction that several people were gobsmacked with the effortless e...
There are many reasons to be cautious when talking about trade finance growth in 2013. Back in January last year both the International Chambers of Commerce and International Monetary Fund predicted a dip in the demand for trade finance products. Many cited the lack of credit and liquidity for banks in some way due to the capital restrictions impo...
16 April 2013 /payments
Martin Ruda Managing Director at Tall Group
Change is afoot in the world of payments. The UK Treasury is consulting on an alteration to the regulatory and strategy setting regime for payments, and it seems likely that an OffPay-type body will emerge. Technology, of course, is at the heart of all payments, and since the reversal of the Payments Council’s decision to close the centralised ch...
What is 3SKey? 3SKey is a SWIFT solution that provides a single token solution for corporates to "sign" payments sent to their banks. A “token solution” usually refers to something like a USB token that customers with bank specific e-banking applications would use to "sign" or approve payments for release to the bank. This act...
15 April 2013 /payments
There has been a re-newed "witch hunt" lately to crack down on "tax evaders". I am not talking about the Cyprus crisis here - that's another can of worms with some interesting twists behind the scene (suffice it to say that some animals turned our to be "more equal" and, as usual, escaped unscathed). I am somewhat surp...
15 April 2013 /payments Innovation in Financial Services
Hugo Cuevas-Mohr CEO at Mohr World Consulting - IMTC Conferences
The announcement Wednesday, April 10th 2013, that one Licensed Money Transmitter, Braz Transfer, was shot down by the Massachusetts Division of Banking (http://1.usa.gov/ZezCTc ) and two other were issued orders of Cease and Desist has been seen by many as a long-time-coming victory in the battle against the Brazillian Parallel Market. The two Cea...
12 April 2013 /payments /regulation
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