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  • Day Two at the International Payments Summit

    Wednesday, March 10, 2010

    While we were eased into this year’s International Payments Summit on Monday, yesterday’s sessions contained more heated debates. Discussions yesterday first of all turned to proposed Basel III regulations which will require far more capital to be raised by the banks (a core capital ratio of at least 6 per cent will have to be maintained). According to a number of projections from major financial institutions, this means that the European banking sector as a whole will have an aggregate extra funding requirement of more than one trillion Euros, or nearly one and a half trillion dollars, to comply with Basel III.

  • Day One at the International Payments Summit

    Monday, March 08, 2010

    The International Payments Summit (IPS) here in London kicked off this morning, and some of the usual themes have already come to the fore. It was no surprise that the straw poll by IPS of the delegates revealed that regulation will continue to be the most important business driver in 2010 as well as one of the biggest constraints to payment transaction growth. Despite the sense of weariness in the banking industry around the issue, it’s clear that regulation will have to remain at least a ‘warm’ topic for now.

  • Moving Forward with EMV

    Tuesday, February 16, 2010

    “I think the report from the University of Cambridge is very interesting and raises some very valid points, despite the fact that it is quite theoretical and could only work in a specific set of circumstances.

  • The Cost of Cash

    Friday, February 12, 2010

    Last week there was a story posted on Finextra about the cost and dominance of cash payments in Europe. The article highlighted that cash costs the EU £84 billion, and that the level of cashless payments rose by 160% between 2000 and 2008.

  • Customer Centricity Comes of Age

    Friday, February 12, 2010

    Tesco is marking the occasion of the 15th anniversary of its loyalty Clubcard by offering £120million worth of money off vouchers and an iPhone application that turns the phone into an electronic Clubcard. The Tesco Clubcard has been widely accepted by customers, and Tesco is obviously keen to trumpet that success and reinforce its use among a new generation of tecno-savvy shoppers.

  • Getting the timing right for a SEPA end date

    Tuesday, February 09, 2010

    Many people I have spoken to in the industry believe that finally, in 2010, we will see the announcement of an end date for SEPA. It is something many of us have been calling for, and now it looks like it might happen soon, so I can't help but wonder what the impact will be.

  • Where next for contactless?

    Thursday, January 28, 2010

    In the last week or so we have seen announcements from PKO Bank Polski and Intesa Sanpaolo about their plans to roll out contactless to their customers, with PKO Polski reporting that 6 million cards will be replaced in the project.

  • The race against fraud

    Thursday, January 21, 2010

    A recent news story on financial crime caught my attention: “Subramaniam went to great trouble to hide his activity. He seems to have thought that carrying data around on memory sticks and using internet cafes would somehow protect him from scrutiny. He was wrong, says Lemon” (Finextra, 15 January 2010)

  • So far so bad

    It seems wrong to start the New Year on a sour note, but as we approach the two-year anniversary of the SEPA Credit Transfer (SCT) go-live, it’s hard to find a silver lining to this particular cloud.

  • Can Faster Payments compete with checks?

    Recently, I attended the Federal Reserve task force meeting in Chicago. As a participant in the Federal Reserve’s task forces for Payments and Security, ACI has recently added our UP Immediate Payments solution to the newly opened Faster Payments Capability Showcase. As a result, this meeting offered an opportunity to collaborate with representatives from across the industry to identify ways to partner and bring immediate payments forward in the United States.