4855 Results from /payments
Retired Member
Startups have a variety of business models to choose from these days. Previously stonewalled Gardens of Eden have been opened up and made accessible on reasonable, in most cases, terms. Worldwide. With adequate funding - readily available to the right candidates - a young startup can even become a bank or a mobile network operator (MNO). Surely, b...
14 September 2012 /payments Innovation in Financial Services
We in Britain love a moan. The glass is always half empty and nothing is ever good enough for the average man on the street. But when it comes to the banking industry, many feel the criticism is justified. Personally I think that this is an emotional reaction and is often unilaterally and wrongly used to criticise ALL parts of these large instituti...
11 September 2012 /payments /retail
Pat Carroll Founder/Executive Chairman at ValidSoft
Project Oscar, the mobile wallet grouping between Vodafone, O2 and Everything Everywhere, has had the go ahead from the European Commission to develop a single mobile wallet platform hosting cards, coupons and transactional information on the SIM card. If you think about it, the race for dominance in mobile wallets is rather like the Tour de Fran...
11 September 2012 /security /payments Innovation in Financial Services
Steven Murdoch Royal Society University Research Fellow at University College London
The EMV (Chip & PIN) protocol requires ATMs and point-of-sale terminals to generate a random number. If this number (known in EMV terminology as the "unpredictable number") isn't random, Chip & PIN is left vulnerable to the "pre-play" attack, which is indistinguishable from card cloning to the bank which issued the card...
11 September 2012 /security /payments Information Security
We ran two rather unusual focus groups this weekend, discussing mobile payments. The first group was represented by "blue color" mainstream and "circumstantial" techno-ignorant late adopters - unbankable, migrants, no (higher) education and low-waged social groups. The second group was represented by the "Home alone"/P...
10 September 2012 /payments Innovation in Financial Services
Myth One: Is it really contactless? Contactless payments are marketed by MasterCard as "Tap and go". If you tap, that's a contact... To differentiate itself, I guess, Visa is using "Wave" instead of "tap". Have you ever seen anyone waiving their contactless card (or a phone) when paying? Technically, if you were to w...
06 September 2012 /payments Innovation in Financial Services
In my recent blog article, “Why Outsource B2B ePayment Adoption?”, I conveyed the results from a recent SunGard study around B2B ePayments and why more and more organizations are opting to outsource the payments process. The study included 171 participants spanning a broad range of industry and revenue classifications, with 48% of the respondent...
04 September 2012 /payments Payments strategies 2015-2020-2030
If I give you £10 pounds, how difficult will it be for you to use it? Silly question. If I send you £10 via PingIt, would it be even simpler to use, considering how "revolutionary and easy" Barclays promises that service to be? Not quite. When I make a payment to someone who is not currently registered with PingIt, that person must sign u...
31 August 2012 /payments Innovation in Financial Services
Google Wallet's business model "bleeds" less than I originally estimated. Google's card issuing partner is not Citi, but Bancorp (thank you for the correction, Frank). The latter is exempt from the interchange fee cap, hence Google would receive around $0.80-1.20 for every $100 spent on its card, depending on whether it was an online or ...
30 August 2012 /payments Innovation in Financial Services
At launch, Google Wallet (GW) was based on Trusted Service Manager (TSM) business model, similar to the one still favoured by the mobile network operators (MNOs), e.g. ISIS. Under that scenario, GW offered access to its embedded Secure Element for storing card details and authentication credentials. Unlike MNOs, GW was not greedy and offered reaso...
29 August 2012 /payments Innovation in Financial Services
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