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Innovation in Financial Services

Archive for: August, 2012

Alexander Peschkoff - TEDIPAY - London | 31/08/2012 | 3768 views | 2 comments

Barclays PingIt: UX SUX

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 si... Tags: Mobile & online, Payments

Alexander Peschkoff - TEDIPAY - London | 30/08/2012 | 5187 views | 5 comments

Google Wallet: behind the scenes

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 in-store p... Tags: Mobile & online, Payments

Pat Carroll - ValidSoft - London | 29/08/2012 | 2963 views

The cost of e-crime: a wake-up call for the retail industry?

The recent findings of the British Retail Consortium’s first e-crime study which estimates that UK retailers lost over £205 million in 2011-2012 due to e-crime caught my eye recently – particularly the estimate that £77.3 million came from actual fraud losses. The most costly form of e-crime for retailers was personal ident... Tags: Security, Retail banking

Alexander Peschkoff - TEDIPAY - London | 29/08/2012 | 14306 views | 5 comments

Google Wallet is losing money on EVERY transaction

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 reason... Tags: Mobile & online, Payments

Pierre Galeon - allpay - London | 22/08/2012 | 3810 views | 1 comment

Google takes its wallet to the cloud

Google is trying to inject new life into its mobile wallet platform by launching a cloud-based version of the app that can be linked to Visa, American Express and Discover cards. Will it be enough? When it was launched in 2011, Google Wallet was presented as the ultimateservice that would take the NFC mobile payments revolution by surprise but... Tags: Payments, Retail banking