Regulatory

Major Retailers Attack Banks Over Tap Payments Routing Gouge

The Banking Royal Commission may be over, but Australia’s peak retail body is nowhere near finished when it comes to spotlighting lucrative institutional fee rorts the Reserve Bank of Australia and other regulators are trying to stamp out.

Read More

International Regulation Is Needed for the Digital World

For the sake of citizens and companies alike, a new system of digital governance must be found to serve the common good, write Anne-Marie Slaughter and Fadi Chehad. Governments built the current systems and institutions of international cooperation to address 19th and 20th century problems.

Read More

Proposed Ban on Cashless Stores Expanded to Include Amazon Go

Supervisor Vallie Brown on Tuesday announced she is expanding her proposed ban on cashless businesses to include Amazon Go, which has two stores in San Francisco and plans for a third.

Read More

Creating Exceptional Customer Experiences Hangs on More Than Context-less Data Alone

Subscribe to The Financial Brand via email for FREERecent surveys and studies covering the banking sector tell us that bank branch traffic has dropped by more than 60 over the last several years and that the contingent of consumers requiring a physical location continues to go down.

Read More

Credit Scoring and Blockchain – New Rating Agencies to Emerge

Credit scoring is a system that figures out a borrower’s rating using mathematical methods. The personal data of the person or organization, credit history and statistics on borrowers with similar conditions are taken as parameters for such calculations.

Read More

Keeping P2P Payments Fraud-Free

In today’s digital payments ecosystem, businesses, banks and consumers alike want access to their money as fast as possible. While person-to-person (P2P) payment solutions and real-time payment platforms are making the quick exchange of funds possible, fraudsters also see an opening to exploit these systems’ vulnerabilities.

Read More
post thumbnail

35% of Transactions Are Terminated When Site Requires Account Creation

More than one third ( 35) of transactions are lost when an e-Commerce site requires customers to create an account before purchasing. Retailers must balance their desire to gather customer data with this loss of sales revenue – as well as the annoyance factor that may keep shoppers from coming back.

Read More

Cashless Trend Becoming a Crisis Debate in UK, US

The rise in mobile payments technology and the related pressure being placed on legacy banking systems is threatening the financial stability of millions of people in the U.K. and the U.S., experts say, as bank branches and ATM’s begin to pull back from unprofitable areas and retailers increasingly move away from cash. A report in […]

Read More

KRA Targets Gamblers, Mobile Payments

KRA targets gamblers, mobile payments Wednesday March 13 2019 In Summary KRA commissioner-general John Njiraini Tuesday said it is proposing to introduce a 10 percent excise duty on betting in the forthcoming national budget.

Read More

Consumers Now Trust the Sector More

A PaymentsSource interview reveals that consumers now trust the fintech sector more. While no numbers were cited, the claim comes from a reliable source. Read more about the international payments market with our money transfers news.

Read More

The Battle for Real-time Payments Dominance in the U.S.

Since Fed catalysed the private sector to deliver real-time payment capabilities, there has been advocacy for the central bank backed, real-time payments (RTP) scheme. Many feel the lack of a ubiquitous RTP infrastructure has become a road block to innovation in financial technology and even created a competitive disadvantage for the U.S. economy.

Read More
post thumbnail

Rewriting the Rules in Retail Banking

Four important trends are changing the terms of success in retail banking. Banks need to act now to develop new skills. Retail banks have long competed on distribution, realizing economies of scale through network effects and investments in brand and infrastructure. But even those scale economies had limits above a certain size.

Read More