5080 Results from /payments
Andy Morris Risk Business Solutions Consultant at ACI Worldwide
Mobile bared the brunt of some bad press this week. Firstly, the story that NFC could be compromised through a new app, secondly the charger that could penetrate the iOS operating system and thirdly the emergence of a new breed of consumers labelled as “paynuphobics” – purportedly 26% of adults who are scared to use online and mobile because of se...
07 June 2013 /payments
Retired Member
The Role of Service Providers One of the biggest complaints about B2B and perhaps true in the early days is that this method is too expensive for small and medium companies, and that these B2B programs were all driven by larger customers who essentially left their trading partners with little choice about participating. I’m not sure that the state...
06 June 2013 /payments
Every time the topic of mobile wallets comes up, an inevitable conversation always occurs regarding the security of the wallet and the risk of phone theft. What happens when you lose your phone? Doesn’t this put the customer at risk? Won’t we see an increase in fraud? Now answer this question: How secure is your current wallet? What would happen a...
If you want loyalty, get a Labrador as a South African banker once told me. Yet, bankers are surprisingly loyal to one thing – their legacy systems. Often, when replacing legacy payment systems, banks just ask for exactly the same as they already have – without looking at the costs savings and opportunities change could bring. The analogy is like b...
04 June 2013 /payments
Contactless cards are in the "limelight" again. First it was M&S, then London buses (in fact, BBC reported on that issue back in February), now it's Amazon. Let's start with the latter. I highlighted the "CVV-less" problem of Amazon last summer. Amazon claims they "employ impressive fraud detection systems". One ...
04 June 2013 /payments Innovation in Financial Services
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 Payments strategies 2015-2020-2030
In the USA today, almost all electronic payments begin with a paper bill. By their actions, US consumers are telling us quite clearly: Electronic payments are MORE convenient than posting a check. Paperless billing at websites is LESS convenient than receiving a paper bill. As long as fetching their bill from your website is the only paperless op...
03 June 2013 /payments
From the early days, crowd psychology has always been part of our society's modus operandi. We worshiped idols drawn on the cave walls, we obeyed the shamans, we crucified and burned people at the stake. Mass hysteria then took more civilized forms when we bought and sold various forms of "snake oil" - from tulips in the 1630s to Boo in ...
03 June 2013 /payments Innovation in Financial Services
Months before the iPhone 5 was released, the industry was a buzz of rumours on the details of Apple’s new device. New connectors, a new OS, thinner, taller. But one feature that received wide-spread attention from the banking industry was the rumoured inclusion of an NFC Chip. Something that anticipated bringing mainstream scale to a technology th...
31 May 2013 /payments Innovation in Financial Services
Financial Institutions may have the greatest advantage in creating a mobile wallet. They have the resources and existing relationships with customers and merchants to bring about real change. There are, indeed, many things working against financial institutions in their quest to develop cutting-edge solutions. Being risk adverse and focused on shor...
30 May 2013 /payments
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