4854 Results from /payments
Retired Member
The past 30 years has seen billions of dollars spent on payments systems - with financial institutions building up a plethora of different systems and technologies designed to meet specific needs and develop competitive advantage. However, as the payments infrastructure gets more intricate and unwieldy, the harder it is for financial institutions ...
05 May 2011 /payments
Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,
On EU: Questions European Tax Payers should ask: 7275 times!! https://www.finextra.com/blogs/fullblog.aspx?blogid=2815 A digital Single Market – why and how?: 2829 https://www.finextra.com/blogs/fullblog.aspx?blogid=2813 The future of Direct Debit – e-invoicing with standing order: 2655 https://www.finextra.com/blogs/fullblog.aspx?blogid=3658
04 May 2011 /payments Innovation in Financial Services
FBI's recent report states that between March 2010 and April 2011, the FBI identified twenty incidents in which the online banking credentials of small-to-medium sized U.S. businesses were compromised and used to initiate wire transfers to Chinese economic and trade companies. As of April 2011, the total attempted fraud amounts to approximately $2...
03 May 2011 /payments Innovation in Financial Services
http://www.youtube.com/watch?v=P6wNEVXe6ZQ
02 May 2011 /payments Innovation in Financial Services
I came across an enterprising man who worked as a driver and doubled up as the neighborhood milkman. In the initial months, he found himself collecting and carrying large amounts of money on a daily basis, which became quite unwieldy with his day job. To make matters worse, with outstanding dues, leakages in collections and a host of challenges po...
30 April 2011 /payments /retail Innovation in Financial Services
The 2011 AFP Payments Fraud and Control Survey, shows that despite advances in fraud protection and prevention in recent years, the rate of payments fraud attack remains stubbornly high. 71% of organizations experienced attempted or actual payments fraud in 2010. 93% of organizations responding to the survey reported incidents of check fraud, up t...
26 April 2011 /payments Payments strategies 2015-2020-2030
Accelerating decline in use of cash clearly reflected here and in card transaction statistics in Finland (even without costs being visibly charged for ATM withdrawals..). Good news for all. On EU level the cost of cash usage was estimated to some 50bn€ some years ago - and the consumer pays 100% of it + some profit margins for the service prov...
24 April 2011 /payments Innovation in Financial Services
It took time to get it going - but this is looking good (statistics covers only Finvoice - similar growth in other local standards). In a couple of years time paper or e-mailed PDF invoices will be as rare as cheques (defacto not used since years). More interesting statistics here: http://www.fkl.fi/en/material/statistics/Statistics/Statistics_bank...
Excellent growth figures - on EU levels the e-id volume would be 1,5bn. All public sector id-transactions are presently done by banks. This is extremely cost efficient (economy of reuse) and naturally preferred by citizens - as the tool (one-time code) is so familiar (economy of repetition and secure (economy of trust). Difficult to understand why...
I would have thought the transaction growth would have petered out in Finland - when most customers have used it for years - and now there are 5,2m e-banking contracts (a population of 5,4m and some probably are prepared to pay for several) - but still a 40m - 11% growth. EU-equivalent of payments would be some 28bn.. More interesting statistics h...
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