In a reversal of usual government tendencies, the EU is planning to force companies to take a global perspective within the EU borders. Finextra: EU to break down e-commerce borders In a speech given in London, Kuneva said she will propose new legislation this autumn for creating an EU-wide set of rules governing online and in-store transactions. The “single, simple set of core rights and obligations” will make it easier to buy and sell across borders and bring down costs for shoppers.….. … will crack down on e-commerce companies that conduct business across member states but force customers to make … Continue reading EU to break down e-commerce borders

Interesting twist in the ongoing Barclays/ ABN/ RBS saga.  This twist has a distinctly global perspective. BBC NEWS | Business | China could buy stake in Barclays Barclays is close to raising around £10bn from the Chinese and Singaporean governments to help finance its takeover of the Dutch bank giant, ABN. If it succeeds and if Barclays acquires ABN, the Chinese state would emerge with a shareholding of around 7% in the enlarged group. Technorati Tags: Barclays, China, Singapore Continue reading China could buy stake in Barclays | BBC

 Europe focussed article talks about slow pick up of PC based Internet services, as young people live by their cell phones. They are more competent and regular texters than their parents will ever be, and have started to use their phones for a whole range of functions -buying ringtones, downloading computer games, social networking – that older generations scarcely know exist, let alone want to try. But young mobile phone customers are still relatively slow to embrace internet-based services, and networks will have to reduce the cost of such services significantly, and speed up their delivery, if this most impatient of … Continue reading We have a lot to learn about how young people use technology

I have been getting a fair bit of updates to the list of online banks post, so I am updating it as we go.  I am going to stick it in the sidebar for reference. One of the updates was from Michal in Poland, and as part of that update, here is a summary of how financial transactions between people occurs there. It’s a different banking world 😉 We don’t have to use PayPal. We send money to another bank account via wire transfer and don’t use checks or bill payment. Everyone uses their bank account number. Transfers between banks can … Continue reading Poland – interbank transfers replace cheques

Credit cards have attained the position of status symbol according to this new survey of 1,400 credit card holders which was conducted in the UK, Germany, France, Spain, Italy, Russia and Poland in July and August 2006 on behalf of MasterCard by KRC Research  Consumers are more likely to use a card that they have an emotional connection to, whether it’s linked to a luxury brand or their favourite football club, particularly if that card offers rewards to help maintain or attain a particular lifestyle. Source: Finextra: MasterCard survey: Consumers want credit card rewards all for themselves Some consumer based … Continue reading Finextra: MasterCard survey: Consumers want credit card rewards all for themselves

A relatively small bank in Italy (15 Billion Euros in deposits) takes on a big challenge with enviable outputs.  It appears to by multi channel, and involving full automation of account opening, and key processes. Finextra: Banca Marche signs IBM to revamp branch network Italian banking group Banca Marche has awarded IBM a five year contract to overhaul and automate its retail branch network. Financial terms of the deal were not disclosed. IBM says the project will integrate customer data from the banks’ multiple sales channels such as internet and call centres and will automate applications, loans and account opening … Continue reading Banca Marche signs IBM to revamp branch network