Payments strategies 2015-2020-2030

Payments systems visions, strategies, trends, pilots, forecasting, and planning for the short-, medium-, and far-term.

Retired Member 

Retail payments: Making the seconds count

It’s a common scene: a customer waiting patiently for a card transaction to be processed. In most cases it only takes a few seconds, but it can certainly seem longer. While some staff may try and fill this time with chatter, merchants should be working harder to make these moments count to actively build a relationship and engender customer loyalt...

22 July 2013 /payments /retail

Mark McMurtrie Independent Consultant at Payments Consultancy Limited

Are PIN Mailers still the best way to distribute PINs ?

Ever since banks started issuing credit and debit cards they also needed to supply customers with a PIN for cardholder verification purposes. These were for card usage at the ATM or POS terminal. The delivery method chosen was PIN Mailers. PIN mailers hide the PIN number with scratch-off or peel-back panels that highlights any attemps at tampering....

26 June 2013

Retired Member 

Payment Factories and Global Cash Visibility-Part One

I have discussed how Payment Factories can help improve efficiency by centralising payments. I’d like to examine in more detail how a Payment Factory can improve cash visibility across an organisation. When people hear the term “Payment Factory,” their immediate assumption is that this surely must be just about payments. And they’re mostly right, a...

19 June 2013 /payments

Retired Member 

Card Acceptance Matters-Part 1

The migration from paper payments to electronic payments continues in a steady and inexorable fashion. Helping to accelerate this movement are the card networks and technology providers who are enabling businesses to efficiently execute B2B transactions. In this multi-part series, we’ll take a look at the factors driving adoption of card progr

17 June 2013

Retired Member 

SEPA ain't ready yet

There are still few moths left for final dead line of implementing SEPA. Still only tiny % of direct debits are using SEPA. Some estimate that number is only 2 but let's hope it is not correct. For standard payments numbers are a lot better but still under previous estimates. Even everything should meet the target in technical level at the Februa...

04 June 2013 /payments

Retired Member 

Being Ready The Future of Mobile Payments

Mass adoption of smart, connected and mobile devices globally has been transforming consumer behavior and dramatically evolving shopping experiences. Every device is now a commerce device. In fact, Juniper Research estimates that by 2015, an overwhelming 2.5 billion consumers globally will buy digital goods via mobile devices. Getting there has be...

29 May 2013 /payments

Retired Member 

Corporate Payments: The Next Ten Years

What lies in store for corporate payments over the next ten years? The biggest evolution in the next ten years, and one that has already begun, is the move to XML. “Really, is moving to use XML such a big deal?” you might ask. Well, it is much more than just changing the syntax of what gets sent to / from the bank. I think ten years from now, ...

13 May 2013 /payments

Retired Member 

Amended Dodd Frank Section 1073 effective October 2013

Following industry consultation, the US CFPB (Consumer Financial Protection Bureau) has issued the awaited amendments to Dodd Frank Section 1073. The new 2013 Final Rule is effective from October 28, 2013. The three issues of greatest concern to US banks have been amended: It is optional, in certain circumstances, to disclose fees imposed by a d...

01 May 2013 /payments

Retired Member 

Assuring Your PCI Compliance

A critical component of any business success is being able to accept payments for goods and services. At the same time, we are keenly aware of the risk associated with doing so. Whatever one trades, whatever the business, any and every credit or debit transaction processed will involve sensitive personal information. This data has to transmitted a...

26 April 2013 /security /payments

Retired Member 

Fingerprint vs. PIN code

As rumor says, Apple will introduce new fingerprint scanning to open iPhone but may also introduce fingerprint to accept payments. In technical standards it sounds really secure solution, but there are some issues which makes me wonder is this level of identification needed and will it be market standard. And do they require same finger print scan...

11 April 2013