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Location
Reno, Nevada
Member since
2009
Peter Horrell

Peter Horrell

Owner Managing Partner at Payment Consulting LLC
Posts: 0 Comments: 4

Peter is Commenting on

ECB launches staunch defence of cash

  It is indeed sad, Hurricane Maria hit Puerto Rico on September 16, 2017 and three months later more than half of the island population was still without power and many people are still without access to potable water, a safe food supply and a method to transact other than cash. To be distributed water must be pumped, and pumps need electricity. Battery technology will not last for three months, stored value chip cards are almost non-existent in the USA, our Debit and Credit cards are online Chip and Signature (mostly). When grid power is down, no amount of generators are going to cut it because power is used to dispense fuel. No generator or transport can run, because batteries cannot be recharged, and petroleum based fuels cannot be distributed.   How many miles can you drive with a single charge of your electric car, 250km? Then what? Looking for a use case study for retaining cash, look to Puerto Rico.

18 Feb 2018 Reply Read article

Swift to review strategy in wake of cyber attacks

  My suggestion to SWIFT would be to implement a system using the card network PCI model. Institutions with low Dollar transfers could self certify, while high Dollar institutions would be externally audited.  This would pass the cost of an breach on to the Financial Institution that breaches minimum standards, which might put that FI out of business. A certified institution, might be able to mitigate the risk by having the SWIFT community accept some of the liability of a breach.

06 Jun 2016 Reply Read article

The Clearing House wakes up to real-time payments

  There is a realistic chance of this succeeding as long as they can keep to political class at arms length.

23 Oct 2014 Reply Read article

Swift bemoans pressure to cut off Russia and Israel from network

  Perhaps it is time for SWIFT to move it's base of operations out of the EU, perhaps to Switzerland?

06 Oct 2014 Reply Read article