Payments

If you didn't think there was a payments revolution taking place, then think again as dealmaking websites like Groupon, Living Social and Huddlebuy have been pushing payments systems.  It makes startling and notable change when you see consumer-based services pushing merchant and business based services at low cost. First there was my free deal for…

If you didn't think there was a payments revolution taking place, then think again as dealmaking websites like Groupon, Living Social and Huddlebuy have been pushing payments systems.  It makes startling and notable change when you see consumer-based services pushing merchant and business based services at low cost. First there was my free deal for…

I’ve blogged and presented about this subject many times before, so rather than repeating all that, here’s a summation with a new twist. Money is meaningless because we no longer deal in money. When we use the word money, most of us would envisage some brand new shiny, crisp notes coming out of a cash machine,…

I've worked for American firms during my main working life, just as we saw the rise of political correctness (PC) and the PC-police. It got to the stage where you couldn't even say "I like your new hairstyle", without falling foul of the PC-police (I know, as one of my male colleagues in Chicago got…

I've worked for American firms during my main working life, just as we saw the rise of political correctness (PC) and the PC-police. It got to the stage where you couldn't even say "I like your new hairstyle", without falling foul of the PC-police (I know, as one of my male colleagues in Chicago got…

At SIBOS 2012, I led a session on the future of money along with Udayan Goyal … … and asked the basic question: will the future still be built on the banking foundation? I'm writing up the session again, as my original description left out a core conclusion about the need to adapt to the future…

As mentioned yesterday, the regulator tries to keep up with the banks who try to keep up with customer, and I said that banks often innovate too slowly. There are many examples of this, but the one that I come back to regularly is Chip & PIN. Chip & PIN has been an enormous success,…

Derek Wylde, Group Head of Fraud at HSBC, presented at the Financial Services Club last week.  He talked about many aspects of fraud and risk, and presented quite  a few numbers related to the issue. One of the charts raised questions in my mind.  It related to the total cost of payment card fraud.  According…