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Archive for December, 2011

Just before the country stopped to celebrate Christmas, the UK Treasury announced that the government plans to ban the ‘excessive’ fees for card payments before the end of 2012. Essentially, this is the ban for card surcharging, i.e. fees that get added to the transaction if the person chooses to pay by card. Unfortunately, in […]

Dec 28th, 2011 | Filed under Banking, Corporate Banking, Retail Banking

So. Now we know. February 1st 2014 has been negotiated as the deadline for the end of domestic, legacy payment schemes in euro countries. It’s sometimes erroneously referred to as the SEPA end date, but in reality it’s the start date. The end referred to is the end of the migration to SEPA. So where […]

Dec 22nd, 2011 | Filed under Banking, Corporate Banking, Retail Banking

Christmas is the time of giving, and so the gift cards are definitely “in season.” Gift cards come in all shapes and forms – from a single retailer and the shopping malls, in various denominations, single-use and reloadable, as a plastic card or as an e-voucher, etc. They are clearly convenient for the person who […]

Dec 21st, 2011 | Filed under Banking, Retail Banking

There have been many discussions about the link between GDP and the use of electronic payments. I recently spoke at the Future of Cash conference in Frankfurt, and created some charts to show actually that cash is still the dominant payment type, at least by volume. I’ve extracted part of that chart below. It shows […]

Dec 13th, 2011 | Filed under Banking, Corporate Banking, Retail Banking

We’ve all witnessed how difficult it has become for retail banking to dig itself out of its retrospectively misplaced devotion to free checking. The recent brouhaha over several banks’ attempt to recover lost debit card interchange through monthly fees gives testimony to just how challenging this new climate has become. After a decade of training […]

Dec 12th, 2011 | Filed under Banking, Retail Banking

OK, just kidding. But, there is an interesting irony related to RDC that I’d like to highlight. Risk concerns loom large among the majority of U.S. financial institutions that haven’t yet made RDC available to consumers and mobile banking users. Other banks are throttling small business RDC initiatives, in part, because of risk concerns. Clearly, […]

Dec 2nd, 2011 | Filed under Banking, Retail Banking

Earlier this week, startup Movenbank came under fire for allowing users to its alpha site to sign in using Facebook credentials. Should Facebook be used to identify and authenticate users at a banking site? I commend the Movenbank team for trying something different and for attempting to use a standard that’s already in place. I […]

Dec 2nd, 2011 | Filed under Retail Banking