5250 Results from /payments
Retired Member
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
In a paper SEPA looks wonderful, but implementation is lacking. Just in my own experience I run in to difficulty few weeks ago, because SEPA could not deliver the promise. I paid a bill from my belgian online bank to Finland. As in Finland, companies require reference codes for automatic payment settlements. That is good and saves a lot of time/mo...
12 April 2013 /payments /wholesale Online Banking
I find myself at the forefront of many debates these days. And I’m not talking about politics, but rather how we will pay for products or services in the future. A year ago, the topic of mobile payments circulated as mild Internet banter in terms of how money is exchanged across sources, rails and platforms. Today, this complex subject makes its wa...
10 April 2013 /payments
Can a solution based on Faster Payments become a viable alternative to the card schemes in the UK?.. I (very much) think so. Faster Payments service is based on the "account to account" system, i.e. it runs on inter-bank rails bypassing the card networks. Hence, it's (almost) cost-free, from the payment perspective. Retail payments - as w...
10 April 2013 /payments Innovation in Financial Services
In 1995 the average UK customer of HSBC visited the branch just over twice a month; in 2012 they only popped in just over three times a year. This illuminating statistic came from Brett King in an entertaining presentation today, where he drew parallels with the destruction of high-street book shops, HMV, Blockbuster and the like. In traditional ...
09 April 2013 /payments Innovation in Financial Services
The stories we hear on the recent freeze and confiscation of funds held in bank accounts in Cyprus seems to be more focused on individuals. In the UK we have heard many stories of retirees who had the bulk of their savings in a Cypriot bank, with one poor couple having just sold their property in Cyprus, with the funds sitting in a Cypriot bank pr...
09 April 2013 /payments
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