Archives

Posts Tagged ‘regulation’

No, not “I Love You” or “Buy Celent Research”. But That, Which and May. The long running saga around Durbin interchange fees took another twist last week. To recap, a group of merchants (knowns as NACS) sued the Federal Reserve, arguing that the Durbin rule it had imposed exceeded the authority granted by Congress to […]

Mar 25th, 2014 | Filed under Banking, Corporate Banking, Retail Banking

Today the European Commission released its long awaited study into the cost of merchants accepting cash and card payments. A copy of the preliminary presentation can be found here. It’s long awaited for a number of reasons. Firstly, it is supposed to finally address the issue of comparing actual costs. Whilst there have been many […]

Feb 19th, 2014 | Filed under Banking, Corporate Banking, Retail Banking

Wednesday saw the Government announce  ) its plans to overhaul UK payments. Regular readers of the Celent blog will know I’ve commented on this several times – here, here, and here. In short, the Government asked the industry, in a poorly formulated consultation, whether it wanted to be regulated or not; unsurprisingly, the industry said […]

Oct 11th, 2013 | Filed under Banking, Corporate Banking, Retail Banking

In a blog on February 5th we broke the news that there was likely to be a regulatory review of payments governance. This was as a result of a speech the chancellor had made the previous day. Whilst UK centric in topic, these changes have global implications, as more governments around the world take an […]

Mar 21st, 2013 | Filed under Corporate Banking, Retail Banking

Last Friday, the European Commission announced that it has extended its investigation into Project Oscar, the proposed mobile payments joint venture from a group of UK telcos. The regulator is concerned that the venture could be anti-competitive. Project Oscar is a JV between Vodafone, Telefonica and EverythingEverywhere (Orange and T-Mobile) to develop an infrastructure which […]

Apr 19th, 2012 | Filed under Banking, Retail Banking

That was the question someone asked me last week at an ATM, Debit and Prepaid Forum. I know – it was in Vegas, the person was joking and the question is really a rethorical one. And yet, it kind of rings true, because no one seems to be happy with the new regulation. Except, of […]

Nov 10th, 2011 | Filed under Banking, Retail Banking

Last week I attended Celent’s Innovation and Insight Day in Atlanta and had an opportunity to catch up with many of our clients, both banks and technology vendors. One of the banks told me an interesting story how after Reg E came into force, they saw a drop in debit card usage and a significantly […]

Jun 23rd, 2011 | Filed under Banking, Retail Banking

In the Celent report Reg, Reg, Go Away: Sorry Banks, They’re Here to Stay, I laid out a stark landscape for checking accounts due to the implications of Reg E. Revenue will drop and profits will drop likely moving into loss. What should banks do? A few of the options were: Raise price Create bare […]

Jul 15th, 2010 | Filed under Retail Banking

Large credit card issuers have been given relatively free rein in the past. That has now come to an end with recent legislation. Double cycle billing is now over. According to the American Banker, “The statute allows card companies to increase rates on existing balances only when a payment is 60 days or more late, […]

May 28th, 2009 | Filed under Retail Banking