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Innovation in Financial Services

Archive for: September, 2008

Dean Procter - Transinteract - Sydney | 30/09/2008 | 2677 views

Payments are heading out the door of a bank near you.

I think that the biggest threat banks face is lack of trust and ethics. Payments are based on trust. Consumers will be looking hard for alternatives. There will be plenty. Payments is only part of it. Consumer credit is next. There's more... Tags: Payments, Retail banking

Dean Procter - Transinteract - Sydney | 27/09/2008 | 3087 views

Cards are dead - is even Visa ditching cards?

I have to question the ROI on Visa's investment into an Android application, although I suppose now it's do everything or die for them.There have been some questions asked as to whether banks should really be investing in NFC and effectively strengthening the card brands, albeit temporarily. I would tend to advise that they should not. Cards are o... Tags: Cards, Payments

a non-active Finextra member | 24/09/2008 | 3080 views

Does NFC required for the Banks?

Mobile payments, mobile marketing, mobile trust services, mobile couponing, etc... Several business cases had been accomplished by several banks! SMSs, WAPs, Java Apps, Barcodes had been used and tried at banking sector. Mobile banking, making the financial transactions over mobile was the hottest business at 2007 and several banks had invested mil... Tags: Online banking, Retail banking

Dean Procter - Transinteract - Sydney | 24/09/2008 | 3037 views | 1 comment

Credit Cardholders' Bill of Rights over 1st hurdle?

Americans will carry about $1 trillion in credit card debt by the end of Christmas.Congress has just passed The Credit Cardholders’ Bill of Rights Act of 2008, known as H.R. 5244. Some of the reforms:- give account holders 45 days notice of any increases in interest rates. - Monthly bills mailed at least 25 days before the due date, up from ... Tags: Cards, Retail banking

Dean Procter - Transinteract - Sydney | 23/09/2008 | 2780 views | 2 comments

Why Mobile Transactions Will Rule On The Internet

Did you know that about 50% of online shopping carts are abandoned at checkout?* Research has shown 41% of online shoppers think that the check-out process is too long.** Even those shoppers who are willing to spend the time and take the risks providing personal financial information to every internet shopping site would probably like payment to b... Tags: Cards, Payments