5205 Results from /payments
Tom Hay Principal Consultant at Payment Systems Europe
The final compromise text for the EU Payment Services Directive 2 (PSD2) has now been published and is unlikely to change substantially when passed as legislation, probably in September this year. Some significant details are still hazy, but the thrust of the legislation is now clear, so banks need to start planning their strategy to address the r...
12 June 2015 /payments
Retired Member
The issues of deficits and debit provoked occasionally heated exchanges during Britain’s recent election campaign. One objective the rival manifestos all shared was in identifying areas ‘to reduce back office costs, waste and inefficiency’ – a common desire of all businesses. Despite numerous electronic procurement and invoicing initiatives, payab...
While we all wait to learn the final terms of Apple Pay for UK participants, I would like to speculate on the choices available to Apple. Apple takes 25 to 15 basis points out of the 1.25% fee that US issuers receive. Proportionally, their cut would be 4 or 3 bps out of a 30 or 20 bps MIF for UK issuers after PSD2. Hardly worth it, when European ca...
11 June 2015 /payments
Elizabeth Lumley Global FinTech Commentator at Girl, Disrupted
...and I loved it. Payments professionals from a wide range of geographies gathered in Barcelona for Nacha’s Payments Innovation Alliance last week. The main topics of conversation centred on real-time payments, the upcoming PSD II, new entrants to the market and, of course, the blockchain. While the actual sessions themselves were under the Chath...
Darren Capehorn Director of Services at Icon Solutions
Last December the European Retail Payments Board (ERPB) proposed a definition for a European wide immediate payment solution, which included the following summary text: “Instant payments are hence defined as electronic retail payment solutions available 24/7/365 and resulting in the immediate or close to immediate interbank clearing of the transact...
11 June 2015 /payments Financial Services Regulation
“Mobile Payments” term may trigger different images in everyone’s mind: from Apple Pay to paying parking fee via SMS. Although some players fight for the market dominance, it is hard to guess which one is going to win at the end – if there would be an end. Another interesting thing about Mobile Payments is its potential of being one of the biggest...
09 June 2015 /payments Innovation in Financial Services
Dean Wallace Director of Consumer Payments Modernisation at ACI
So, as of June 8th 2015 , 18:45 BST, Apple (Pay) is coming to the UK. And so they should! As recently reported by Worldpay [link] the UK market is at a tipping point for contactless. This means this market is ripe for mobile payments. With, according to The Telegraph, UK consumer adoption of iPhone being over 40% of all smartphones [link], we wil...
09 June 2015 /payments
Inertia set to condemn UK merchants to £1B ($1.56B) of extra costs. The Payment Systems Regulator (PSR)’s March 2015 Policy Statement includes exemptions for Visa and MasterCard and reveals no strategy with regard to the application of interchange fee regulation (IFR) in the UK, leaving merchants exposed to up to 9 more months of unfairly high fee...
08 June 2015 /payments /regulation
Mick Fennell Vice President, Middle East & Africa at Volante Technologies
Are Arab banks ready to make major changes to their payment processing infrastructures? Before answering that question we probably need to ask why? Do they really need to make changes? Why would they, or should they, want to undertake such major internal surgery - is it worth the risk? When one looks at the fundamentals, there’s really no great d...
07 June 2015 /payments
Abhishek Chatterjee Managing Partner at Gartner Inc.
With the rapid advancement of technology in developed countries, we run the risk of creating a Digitally divided society. In one hand Nexus of forces (SMAC) & IoT are changing the urban life like never before, in the other hand section of developing (mostly rural) and under-developed counties have minimum or no access to Digital Technologies a...
06 June 2015 /payments Fintech innovation and startups
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