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

The European Commission said customers are paying too much because the industry was still split along national lines and new card providers find it hard to set up shop.

EU: Credit, Debit Cards Charging Too Much

BRUSSELS, Belgium – Credit and debit cards such as Visa and MasterCard are racking up “abnormal” and “excessive” profits for banks, European Union antitrust chief Neelie Kroes said Wednesday.

The report makes the connection between the high merchant fees, and consumer prices.

She said the industry should also rethink the way it sets prices. “Banks collectively set fees that tax businesses and ultimately all consumers for every card payment,” she said. “As a consequence there is not enough market pressure on fees and retail prices are inflated due to card payments.”

Continue reading “EU: Credit, Debit Cards Charging Too Much”

European banks continue to lead the way on chip. Banking Briefs – Business news Bulbank said on April 6 it successfully ended the needed certification and can now process chip cards in the country’s network of ATMs. As of now, more than half of the total ATM network has been upgraded, mainly in the bigger cities and seaside resorts. Daily, more than 100 chip card transactions are processed, and the number is expected to increase with the summer season, the bank said in a statement. Bulbank is one of the first European banks migrating successfully to the new messaging standard … Continue reading Bulbank chip card Bulgaria