4813 Results from /payments
Paul Penrose Head of Research at Finextra
How do you define a micropayment? In the early days of the Web a micropayment was defined as 1/1000th of a US dollar. With the Internet providing a shop-front for the sale of small value items - such as a software application or an individual news story - the search was on for an economically viable means of conducting such miniscule transactions....
13 August 2008 /payments Trends in Financial Services
Richard Barr Principal Associate at Citadel Advantage Ltd.
Banks are focusing inward in their quest to comply with Basel II operational risk requirements. This is of course critical if the banks are to achieve an acceptable level of success in its compliance. However, by focusing solely inward, the role that external parties play may inadvertently be overlooked, and is a serious concern. One of those key ...
13 August 2008 /payments /regulation
Russell Burke Senior Payments & E-Money Authorisation Specialist at The Central Bank of Ireland
Why only fivers? Perhaps this makes sense for small cash withdrawals, but for larger amounts I would imagine a combination of large notes and some fivers would be more practical. Leaving the debates on a £5 coin and contactless cards aside for the moment, both of which could mean "less time at sales tills and less fiddly loose change",...
11 August 2008 /payments
Retired Member
SWIFT (Society for Worldwide Interbank Financial Telecommunication) is one of widely accepted way to do financial transaction between financial institutions. It has over 8,300 banking organizations, securities institutions and corporate customers in more than 208 countries. If you look at the SWIFT evolution in the market they cover overall market...
09 August 2008 /payments Trends in Financial Services
Elton Cane Digital product delivery at News Corp Australia
According to ChinaDaily, as of the end of last year, lenders in China had issued 1.5 billion bank cards, including debit cards, credit cards and quasi-credit cards. Of the huge sum, active cards, which were used at least once every month, were only about 80 million, less than 10 percent of the total. These figures come from China UnionPay, the nat...
08 August 2008 /payments /retail Asia Financial Services
With Sepa opening up choice of clearing infrastructure for banks in the euro-zone, many banks no longer see ownership of their national domestic infrastructures as necessary. Italy's SIA-SSB has appointed Citi as an advisor, as its major bank shareholders Intesa Sanpaolo and UniCredit look to sell. Atos Origin was recently named in press reports ...
08 August 2008 /payments /wholesale SEPA and European Payments
Most Financial Institutions have been very slow in upgrading themselves with new technologies. Obviously they cannot do frequent upgrades BUT all of them should regularly review their existing systems to identify areas where technology can help them in cost reduction. One of big operation cost for any financial institution is in sending financial
08 August 2008 /payments Trends in Financial Services
The UK Faster Payments initiative may have been delayed, but its implementation will revolutionise electronic payments within the UK and heralds a fundamental re-structure of the way the industry approaches payments. Strange then that the launch of the initiative back in May passed us by with little fanfare and still receives little interest from ...
06 August 2008 /payments
I look back over 100 blogs I've written and have a look at the major issues discussed. Faster transactions, security, identity and whether smart cards or mobiles or a mixture of both would be the best path for transactions. In the background the financial crisis of the century has loomed large with some and banks were beginning to explore mobile ba...
05 August 2008 /payments Innovation in Financial Services
PaymentsNews reported yesterday on a Mercator report titled,"Merchant Acquiring in the United States 2008: Birth of the perfect storm". Pressure on merchant acquirers has always been strong, but things are expected to get worse. Mercator encourages acquirers to protect their businesses by focusing on value-added services leveraging paym...
31 July 2008 /payments SEPA and European Payments
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