Category: Payments

Business Models, Payments

Google Checkout, Google Mastercard

Colin Henderson

Googling Google is a blog that tracks Google, and speculates on their future, based on some geeky detective work. This potential development, aligns with the Yahoo /ebay alliance just announced.  As ecommerce develops, and goes mainstream, its clear that the big portals will have a large role to play relative to payments, and Banks should be aware and ensure they protect their customer base, because the opportunity for others to attract them is high.  The all important transactional moment will be a big driver of customer loyalty in the future. » Welcome to Google Checkout, that will be $3.14 | … Continue reading Google Checkout, Google Mastercard

Payments1 Comment

Paypal extends its reach significantly beyond eBay into general ecommerce

Colin Henderson

This is huge and should send shivers down the backs of all bankers.  Yahoo are destined to control the access to many ecommerce sites, including their own.  The potential impact is very strong control over the payment system, and increased disintermediation of banks. Yahoo, eBay team up on e-commerce – Internet – News – ZDNet Asia Yahoo will make eBay’s PayPal service the exclusive third-party provider of its online wallet, allowing customers to pay for Yahoo services from bank accounts, credit cards or balances associated with their PayPal accounts. PayPal will also be integrated into product offerings for Yahoo merchants … Continue reading Paypal extends its reach significantly beyond eBay into general ecommerce

Canada, Payments

Symcor licenses Carreker Image Inspector

Colin Henderson

Symcor who are owned by, and manage cheque clearing for some Canadian banks, (Royal Bank of Canada, Bank of Montreal & Toronto Dominion Bank) are moving ahead in preparation for cheque imaging, and clearing, known in Canada as TECP. Finextra: Symcor licenses Carreker Image Inspector “In preparation for Truncation and Electronic Check Presentment (TECP), Canada’s equivalent to Check 21, one of our top priorities is to have a solution in place that mitigates our risk exposure, protects our customer’s privacy, and ensures document integrity — by not only analyzing an image for quality, but also for usability both in our … Continue reading Symcor licenses Carreker Image Inspector

Middle East, Payments

Payments study 2006 – Middle East

Colin Henderson

Study on payments volumes in the middle east, and reference to global trends. CPILive.net your one-stop information portal in the Middle East. The Middle East will also match the global trend (-3.09%) of abandoning the cheque with a 3.66% decline. Kuwait is both the highest user of cheques in 2004 (104.47m of the 151.67m recorded within the Middle Eastern countries studied) and is predicted to exhibit the fastest decline at -5.77% by 2009.The market forecast, commissioned by ACI Worldwide, a leading international provider of solutions for electronic payments, and conducted with Global Insight, a provider financial and economic forecasting, showed … Continue reading Payments study 2006 – Middle East

Payments

European Commision to create an expert group on customer mobility in relation to bank accounts

Colin Henderson

Interesting view from a government group on something we Banks consider private space. Group looks at obstacles to switching bank accounts | info-europa The European Commission* is to create an expert group on customer mobility in relation to bank accounts. In particular, the group will identify any legal, administrative or other obstacles that customers encounter when opening, closing or switching bank accounts at both domestic and cross-border level."A bank account is often a prerequisite to accessing a whole array of other financial products, such as loans and investments. Most customers get these services from the bank where they have their … Continue reading European Commision to create an expert group on customer mobility in relation to bank accounts

Payments

Banks can learn from Apple retail store approach

Colin Henderson

Good background data on Apple retail stores.  They make the retail experience compelling focussing on simplicity, and interactivity, supported by the Genius bar, hosted by experts.  Their sales per foot confirm the success of their approach. The Daily News Online The stores’ growth rate in revenue per store — an increase of 44 percent from 2004 to 2005 — eclipses industry norms. By comparison, major retailers like Target Corp., Wal-Mart Stores Inc., and Best Buy Co. Inc. saw growth rates of 3 percent to 6 percent in 2005. Apple’s stores also reap more revenue per square foot than others: Its … Continue reading Banks can learn from Apple retail store approach

Payments

ATM 2.0 is serving a burgeoning Hispanic community need in the US

Colin Henderson

There is an evolving space in the US financial services space for the "unbanked". These are different ethnic groups, with less trust in typical banks, or simply poor people who don't feel there needs are represented by banks. globeandmail.com : The name of the game The full-service financial service machines that TIO makes (think ATMs 2.0) are placed convenience stores or other high-traffic areas. They allow users to replenish credits on pre-paid store cards, dispense cash, send money orders, transfer money, pay bills and cash cheques.The TIO machines have found a ready clientele among many Americans, particularly those who Mr. … Continue reading ATM 2.0 is serving a burgeoning Hispanic community need in the US

Business Models, Payments, US

Wal-Mart can cancel banks’ store leases

Colin Henderson

Wal-Mart is engaged in a major battle with the US Banks at Senate hearings. Wal-Mart can cancel banks’ store leases Wal-Mart is seeking FDIC approval to open a special type of bank in Utah called an industrial bank. A range of opponents, from local banks to farmers to unions, testified for three days last month that Wal-Mart was really aiming to get into general banking services and argued this would be bad for local economies Wal-Mart is interested in ensuring it controls the costs along its entire value chain, a smart trend that all companies think about, such as Home … Continue reading Wal-Mart can cancel banks’ store leases

Payments, US

“Best Clearing” – image technology and ACH to optimize cost and accelerate adoption

Colin Henderson

Courtesy of Payment News, the topic of payment convergence appeared at the NACHA conference. Payments News: NACHA’s Take on the Future of Payments: Convergence – May 11, 2006 “Best Clearing” was described as using a combination of image technology and the ACH system to optimize cost and accelerate adoption of electronic processing of checks. Checks would be imaged by the collecting bank, stored locally, and then cleared through the ACH system. Images would be made available by collecting banks through some kind of standardized access model and not stored twice as they are today (once by the bank of first … Continue reading “Best Clearing” – image technology and ACH to optimize cost and accelerate adoption

Payments, Security

MTN, UBA partner to take electronic banking to new level – Nigeria

Colin Henderson

I must admit I did a double take when I read the introduction here at the mention of Nigeria.  Between terrorism, revolutions, and spamming Nigeria doesn’t have the greatest reputation.  However when I read the rest, there is an impressive array of services in this new partnership. NIGERIAN TRIBUNE – Info Systems In addition, non-cash payments will also be available from POS terminals at these locations. Several UBA products, notably Moneygram, would also be available at all MTN Service Centres and MTN Connect Stores. UBA, which is the sole super agent of Money Gram in Nigeria, holds more than 80 … Continue reading MTN, UBA partner to take electronic banking to new level – Nigeria