Profile

Location

Stockholm

Member since

2002

Writes about

Jan-Olof's blog archive

2009 (1) 2008 (1) 2007 (1)

Jan-Olof Brunila

Director-Group Card Services at Swedbank

Posts: 3 Comments: 74

Bio In charge of the coordinated effort on payment cards in the Swedbank Group operating with payment card services in more than 10 countries Career History Insurance underwriter 1979 - 1982 Head of corporate casualty insurance 1982 - 1987 Head of SAS consumer credit services 1988 - 1992 Director Swedbank Acquiring company 1992 - 1997 Head of Swedbank payments development department 1998 - 2003 Director Group Card Services 2004 -

Blogs

Card fraud datamine?

18 Dec 2009

Is this new service a mine of information for anybody that wants to access valid payment card numbers in order to use these for fraudulent on-line purchases? Or is the service PCI compliant thus making it impossible for anybody to access or use the underlying card number including the administrator of the service? If yes, card numbers can be stol...

Look at retailer owned banks elsewhere

29 Jul 2008

In Scandinavia a number of retailers have established banks and some have tried to become gereral purpose retail banks offering consumers all the neccessary basic banking services like deposits, salary payment accounts, unsecure loans, mortgages, bill payment services, debit and credit cards... but with slow uptake and usually loss leading busines...

Prepaid or deposits?

17 Dec 2007

If a bank like A & L offers on one hand deposit accounts and on the other hand prepaid accounts - where does the regulator draw the line between the two fundamentally different services? How does the bank know who holds the prepaid account it the card and account is handed over as a gift to somebody else than the original purscaser? Are the pr...

See all Jan-Olof's blogs

Jan-Olof is Commenting on

Which? calls for post-Brexit rule change to protect victims of APP fraud

If banks or ASPSP:s as regulators call us, should foot the bill for APP fraud, the protection needs to be financed, i.e. end users of payments need to pay enough for the payment service to cover refund rights for fully authenticated credit transfers that prove to be fraudulent. In the payment cards industry the business model includes liability rules for cases where the payee is not paying back wrongfully received funds. The alternative protection is to add more security features that make payer life harder.The PSD 2 makes it harder for the payment service providers to reclaim monies from the fraudulent payee due to the "finality of payment rule" and most consumer protection regulations assume that the payee will repay the wrongfully received funds, which does not apply to fraudsters. The PAD regulation gives all EU citizens the right to obtain a payment account - so fraudsters have a legal right to "join" the payment service. The absense of sensible "scheme" rules in combination with instant payments, the internet/mobile networks and digital transaction verification are the fuel components that propel this kind of fraud and will make a ASPSP liability rule expensive.

23 Oct 2020 Reply Read article

Revolut slashes fraud with disposable virtual cards

At Swedbank we started to issue disposable, one time card numbers for e-comm twenty years ago. Good for fraud protection slnce once used the card no was blocked for new payments. For services where you pick upthe purchase like theatre tickets it did not work since the ticket booth wanted to see the card used before handing out tickets... same with airline travel. Great for subscription services since you could control additional payment and renewal. Ir swcurity to eork the issuer needs to block all pan key entry payments with the underlying card. Now we gear up to use SRC to meet the Psd2 security requirements with strong two factor authentication.

27 Jul 2018 Reply Read article

Deutsche Bank teams with airlines on new payments model

Does this new credit transfer payment give the paying consumer the same money back guaranree that major card scheme rules demand from the airline’s bank / psp if the airline goes belly-up before delivery and is unable to refund its consumer? If not, then such a service is on favour of the airline and its bank/psp at the expense of the consumer.

08 May 2018 Reply Read article

Europe begins Open Banking era in subdued style

The consumers are focused on consumption and are not so interested in the payent process and its particularities. Consumers will not use any complex and difficult to access services but prefer easy to use and secure payments. The security issue is something consumers assume is built-in and not an added value. The PSD 2 may be more of interest to the payees receiving payments from consumers. Payees may prompt the consumer to use a payment service payees prefer due to low cost and low risk for the payee. If the consumer can use the prompted payment, it is likely to be used. Even if it is more risky to the consumer than another available service since payees are not under obligation to give consumers terms/conditions info on payment services the consumer already has signed up for.

16 Jan 2018 Reply Read article