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Archive for: September, 2007

Paul Penrose - Finextra - London | 26/09/2007 | 4406 views

Verified by Visa is easy target for scammers

Bank of America customers are the targets of a new phishing scam which uses the Verified by Visa anti-fraud programme as the bait to lure victims. “Your Bank of America card has been automatically enrolled in the Verified by Visa program,” one version of the email says. “To ensure your Visa card's security, it is important t... Tags: Cards, SecurityGroup: Trends in Financial Services

Paul Penrose - Finextra - London | 24/09/2007 | 3406 views

Like MasterCard meets PayPal without the charges

That's the opinion of Ted Leonsis, chairman of RevolutionMoney, describing the new RevolutionCard, which was released in the US today. The PIN-protected card offers a line of credit, $15,000 top-up capacity, ID-theft protection and interest rates pegged to the card holder's credit rating. It also promises to significantly undercut the hated... Tags: Payments, Retail bankingGroup: Trends in Financial Services

Paul Penrose - Finextra - London | 18/09/2007 | 3251 views

Could IP disputes derail Sepa?

An interesting working paper from the Federal Reserve Board of Philadelphia which suggests that disputes over Intellectual Property rights pose a risk to the development of the Single Euro Payments Area (Sepa) and subsequent innovations in banking and retail payment media in Europe. The authors argue that the lack of a proper intellectual propert... Tags: Payments, Retail bankingGroup: Finextra@Sibos

Paul Penrose - Finextra - London | 14/09/2007 | 3074 views

P2P lenders see silver lining in credit crunch cloud

The credit crunch may be bad news for traditional banks, but the new breed of peer-to-peer lending operators are viewing the current liquidity crisis as a clear opportunity to take on more business. With traditional lenders tightening their loan criteria and dispensing with special introductory credit card rate offers and home equity loan options, ... Tags: Online banking, Retail bankingGroup: Trends in Financial Services

Paul Penrose - Finextra - London | 12/09/2007 | 2404 views

A hedge fund manager speaks...

"The big lesson of the subprime crisis: that it's a mistake to lend money to poor people.""Rich people know how to invest extra money. Poor people just squander it on necessities. That's why capitalism works so well: it keeps money out of the hands of people who don't know how to use it and directs it to people who know h... Tags: Risk & regulation, Wholesale bankingGroup: Whatever...