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Yet another wannabe disruptor gets disrupted. RIP.

Can you name any fintech product / service that will "start eating the banks lunch with their own mobile POS devices"? *ALL* mPOS vendors I know continue to need a bank as acquirer and pay full MSC / MDF to acquirer banks. Whatever they charge for their service, they recover by way of higher fees from merchants. More in my blog post Hiding Your Secret Sauce.

Can you explain how Apple Pay and Google Pay will "cause banks to lose out on the acquiring chain"? They might place themselves between the consumer and the acquirer bank but they don't disintermediate the acquirer bank. Even when a customer pays by plastic card, the merchant sits between consumer and acquirer bank. As a matter of fact, as I'd highlighted in my post Apple Puts Banks Squarely At The Center Of Mobile Payments, Apple Pay actually puts banks right in the middle of the payment chain instead of disintermediating them.

"Research by Javelin shows that the value of false declines per year has hit $118 billion, more than 13 times the total amount lost annually to actual card fraud ($9 billion)."

“While the industry has relentlessly worked to reduce fraud, some of these efforts have resulted in an increase in transactions being needlessly declined,”.

I suspected something like this when I wrote Mitigating Fraud Does Not Pay The Bills

But I didn't dream that the revenue loss would be 13X of fraud loss.

Keen to know the key difference between a traditional bank lending directly versus via an online P2P platform. As far as I know, online P2P platforms do not take loans materializing on their platforms on their books.

Great initiative! Kudos to ICICI Bank.

On another note, while INR has fallen sharply against USD lately, INR 20 lakhs is still worth a lot more than US$ 20K - it's close to US$ 30K, per current exchange rate (1 USD = 68.81 INR).

The cited BI article has a line saying Powa didn't take off because of lukewarm consumer adoption. BUY button on Google search results or Pinterest boards, Powa Tag on print ads - neither of them has set the world on fire. Wonder what was the real problem in the case of Powa - not enough ads carrying Powa tags or not enough people scanning QR codes on the ads or poor unit economics or something else.

Kudos. Shared Service Utilities in areas like KYC will also help customers who currently have to submit copies of the same document to different banks while shopping for financial products and, sometimes, to buy different financial products even from the same bank.

Can anyone enlighten me about the difference between a traditional bank lending to someone directly versus lending to the same person via Online P2P platforms?

PIN is rejected even here:)

On another note and returning to the main topic, wonder if EMV (Chip + Signature) will even see its first anniversary in USA:

"Side note: my European colleagues always point out EMV (chip) cards work “great” in Europe. I don’t care. At all. They suck stateside. A lot." https://t.co/zdVr3UYLUF