189 Results from 2018, /payments
Hakan Eroglu Advisor at BIS Innovation Hub (all opinions are my own)
On 13th January 2018, the second Payment Services Directive (PSD2) came into force. With it – amongst other rules, banks are will be required to open their systems to third-parties and provide interfaces that would allow them to initiate payments, retrieve account information and a conformation of availability of funds. But the regulation leaves ...
18 March 2018 /payments Open Banking
Brendan Jones COO at Konsentus Ltd
Open banking is not just for Europe, although many of us sitting in Europe probably think it is. Many other markets around the world have been noticing what Europe is up to and other countries and regions are also looking to adopt similar principles with the ultimate view of delivering better customer financial outcomes. USA Stakeholders in the ...
12 March 2018 /payments Banking Regulations
Or maybe the headline should really read EU PSD2, open access APIs are not just for banks and the first thing we all need to be clear on is that UK open banking, that has been launched with the CAM9, is not the same as PSD2 open access APIs. So who does PSD2 open access APIs apply to? Well PSD2 uses the term ‘Transactional Account’ and in the UK t...
Jeremy Light Co-founder at Fourdotzero
Money without Innovation Fiat money takes three forms - electronic deposits at commercial banks, banknotes (and coins) and central bank (CB) reserves. None of these are great starting points for innovation. Electronic payments (cards, direct debits, credit transfers etc), exchanges of deposits between and within commercial banks, are increasingly d...
12 March 2018 /payments Innovation in Financial Services
Chris Principe CEO at APB, Inc.
The Threat of the Crypto-Whales, Why 2018 will be the Year of Regulation in the Cyberworld Whales are the largest animals on Earth, and many kinds of whales live from eating one of the smallest animals, plankton. I have used this example in many presentations; at banking conferences, I point to banks being the whales and needing to take care of the...
06 March 2018 /payments Digital Asset Class (DAC)
Ron Delnevo Chair at UK Cash Supply Alliance
I was in Parliament the other week, in a Committee Room, listening to a lot of promises being made by the LINK ATM Network. The promises boil down to the claim by LINK that they will never let any town be without an ATM. Do you remember the “we won’t close the last bank branch in town” promise? It didn’t last - and nor will LINK’s. I have been in C...
06 March 2018 /payments /inclusion Financial Services Regulation
My concluding blog on trends focuses on the ongoing payment trends, those that are already strongly established and which will continue in 2018. The momentum towards a “less-cash” society increases in developed economies, including the US, Australia and Europe, primarily driven by adoption of contactless bank cards, causing reduced cash usage and ...
05 March 2018 /payments /retail Trends in Financial Services
Ketharaman Swaminathan Founder and CEO at GTM360 Marketing Solutions
As we saw in Feature Or Bug - Facebook & Tideplus (hyperlink removed to comply with Finextra Community Rules but this post should appear on top of Google Search results when searched by its title), #FeatureOrBug refers to a feature that masquerades as a bug. To recap: As brands increasingly adopt personalization in their communications, what y...
04 March 2018 /payments
Tristan Blampied Executive Director, Payments Product at JP Morgan Chase & co
The digitalisation of the economy has transformed how consumers and businesses purchase and pay for goods and services. With a thumbprint, a tap of the wrist, or simply a glance of the face to our phones, we pay for lunch or coffee. We are rapidly moving towards a cashless society, and purchases from our smart devices can be made anytime, anywhere...
02 March 2018 /payments Trends in Financial Services
Elina Mattila Executive Director at Mobey Forum
India’s emergence as a digital payment powerhouse is an unlikely story. Until recently, cash accounted for 95% of transactions, 85% of workers were paid in cash, and 70% of online shoppers chose ‘cash on delivery’ as their preferred payment option.[1] Yet, the Indian mobile wallet market is set to grow by 150% over the next five years, with transa...
02 March 2018 /payments Fintech
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