Category: Payments

Canada, Payments, US

Obopay P2P payments, and purchases

Colin Henderson

The third party payments space is heating up, with competition even amongst the newcomers.  This one is in direct competition with Paypal mobile, as well as competing with the US Nacha credit push initiative, and the Canadian Certapay Interac Debit. Relevance to Bankwatch:  Another example of third party disintermediation of money movement.  In plain english we (Banks) are losing control of how customers move their money, and we will eventually lose control of their balances as a result.  Finextra California-based start-up Obopay has launched a mobile payments service that allows customers to make person-to-person fund transfers and using their hand … Continue reading Obopay P2P payments, and purchases

EU, Payments

As the deadline looms, all SEPA stakeholders need better collaboration and coordination

Colin Henderson

Good background making the point that SEPA will result in reduced Bank revenue, and Banks’ should become a lot more pro-active in determining how to view this as a cost reduction opportunity, to mitigate that loss. One way suggested, is to work closely with large corporations, in development of standards, and there are clues that exist, such as XML based communication. SEPA: Time to Light the Fire At the end of the day, SEPA will come down to standards: Standardized payment processing is the name of the game, and it takes cohesiveness and collaboration to light the fire. Leading torchbearers … Continue reading As the deadline looms, all SEPA stakeholders need better collaboration and coordination

Business Models, Open Source Banking, Payments2 Comments

More on Bankless Banking (Zopa, Ripple, Prosper)

Colin Henderson

As noted earlier in March, based on the article in the Economist, there are moves afoot in the alternative banking space. We noted the appearance of Ripple yesterday. these are new business models, that provide for P2P (person to person) borrowing/ lending, with no Bank involved. Finextra now report, that Zopa from the UK intends to attack the US market, having raised $15M in preparation. This following the launch of Prosper in the US last month. Finextra: Zopa raises $15m for US launch Zopa, a UK-based online person-to-person lending and borrowing exchange, has secured $15 million in series b funding … Continue reading More on Bankless Banking (Zopa, Ripple, Prosper)

Payments1 Comment

RipplePay

Colin Henderson

 Courtesy of Robin Good here is a new concept in payments from RipplePay.  Essentially it allows friends to trade debts as IOU's. Normally, if your friend Alice owed you $10, she would have to pay you back before you could make any use of that debt. If you were creative, however, you might be able to pass the debt on to someone else who knew and trusted Alice, in exchange for something you wanted. For example, you might be able to get a book you want from Bob, who also knows Alice, in exchange for letting Alice know that she … Continue reading RipplePay

Payments1 Comment

Visa debit now offered by ANZ

Colin Henderson

A Visa card that accesses your bank account over the Visa network, at a merchant, or an ATM. (courtesy of Payment news). In Australia, apparently this is the first offer of debit cards, and they are implementing it with Visa.
ANZ Everyday Visa Debit

  • Worldwide acceptance of Visa while accessing your own savings. You can make purchases online, over the phone and at more than 24 million outlets around the world.
  • No credit application necessary.
  • Your choice of card design. Your ANZ Everyday Visa Debit comes in three unique designs you can choose from. Unlimited ANZ transactions for $6 a month.
  • This includes ANZ ATMs, EFTPOS, ANZ Phone and Internet Banking and ANZ branches.
  • ANZ's Online Guarantee for greater protection on Internet purchases plus ANZ Falcon™ monitoring for suspicious transactions.

Continue reading “Visa debit now offered by ANZ”

Payments

Business case and impacts of the NACHA credit push initiative

Colin Henderson

Great questions asked here at Payments News on this topic. While we have some clues, and directional research, the real impacts can only be estimated.

Payments News: More About NACHA's "Credit Push" Initiative – March 24, 2006

if the pilot can prove the service to be an net enabler of additional eCommerce growth. …."The real key", according to Samantha, "is what impact credit push will have on the payments mix"."

There are several things going on at the same time here:

  1. introduction of "debit" activity to the ecommerce space
  2. introduction of chip cards (debit and credit)
  3. introduction of PIN verification for credit cards

Continue reading “Business case and impacts of the NACHA credit push initiative”

Payments

Eufiserv prepares for Sepa

Colin Henderson

Eufiserv  (Brussels-based company owned by savings banks from twelve different countries and by the European Savings Banks Group (ESBG).) prepares for SEPA by 2008. Relevance to Bankwatch:Information only Finextra: Eufiserv prepares for Sepa Pan-European e-payments processor Eufiserv is moving to make its ATM card business compliant with the Sepa Cards Framework (SCF) so that the scheme can continue after the introduction of the singe euro payments area in 2008. The aim of the Sepa initiative is to dismantle cross-border barriers and drive down costs for non-cash euro payments to the level of domestic transfers. To become compliant with the SCF, … Continue reading Eufiserv prepares for Sepa

Payments

ATM’s and future revenue generating potential

Colin Henderson

ATM’s are expensive. A mid sized bank has to spend $ 50MM every 8 – 10 years to maintain just the hardware in a 1,000 ATM network. Customers demand ATM’s for access to their money, yet, customers are using ATM’s less as debit takes hold.

An insider’s look … from Palm Desert, Calif. | ATM Marketplace News

One program to which PDNB pays special attention is debit. Often a behind-the-scenes player, PDNB is taking a lead role in spear-heading the prepaid debit-card effort.

Continue reading “ATM’s and future revenue generating potential”

Payments, Security

Visa warns of PoS software bug

Colin Henderson

Courtesy of Finextra, Visa takes action, following the March 6th, 2006 pin fraud.  It was earlier reputed to be OfficeMax, however we note the recent news references are to an “unspecified merchant”.  Only two weeks later – I suppose that’s fast enough? Anyhow, I presume this is the last on the Citi ATM fraud.  However its not the last time we will hear of this issue, and I would rather see Visa (is MasterCard there ??) make a statement about the other software applications used be merchants. Finextra: Visa warns of PoS software bug Visa USA is warning that two … Continue reading Visa warns of PoS software bug