Thursday, December 30, 2010
Regulatory changes are expected to drive up the cost to banks of processing cash payments and are likely to hasten industry consolidation by forcing smaller players out of some basic banking services.
Monday, December 13, 2010
With today’s UAE household wielding a spending power of close to Dh20,000 a month, banks are exploring new customer channels and products with more flexibility and ease of use. Family cards are a prime example of this product innovation and are likely to become the next big thing in retail banking.
Tuesday, November 30, 2010
The recently released "World Payments Report 2010," an annual barometer of payments worldwide, found that payments volumes kept growing in 2009 despite the financial crisis. In addition, new entrants to the payments market, such as e-payment providers, and increased regulatory mandates are creating a more complex payments landscape. Unfortunately, electronic payment systems used by many banks today often are too complex to quickly respond to changing customer needs and to deliver real-time insight into activity across the enterprise.
Tuesday, November 16, 2010
“Why not wake up and have an ambitious goal?” is the question electronic payments software provider ACI poses in its bid to garner support for a collaborative effort within the financial services industry to create common definitions of payment processes. Upon noticing payment processes are, according to ACI, a “silo-based mess”, it teamed up with consultancy firm Aite Group to develop The Payments Maturity Model (PMM).
Monday, November 08, 2010
In a recent survey conducted by ACI Worldwide, an international provider of payment systems, 76% of respondents do not currently issue payment cards with EMV technology, and of that group only 15% have plans to do so within the next 24 months.
Sunday, November 07, 2010
It's an ominous sign of future fraud when industry analysts describe a new method of attack.
Wednesday, November 03, 2010
A spree of payment card fraud incidents at multiple retail locations in Seattle has prompted an investigation by law enforcement authorities. And security experts say these crimes can be expected to happen more frequently as credit/debit card fraud evolves.
Tuesday, November 02, 2010
It is said the first phase of the Southern African project, which will be led by the South African Reserve Bank, will seek to integrate the existing bank and payments infrastructure across South Africa, Namibia, Swaziland and Lesotho. This is expected to take up to two years and the scheme will eventually be spread further afield.
Thursday, October 28, 2010
The strategic advantages and advances offered by new and emerging innovations in payments processing either outweigh or mitigate the majority of the deployment and investment concerns.
Friday, October 22, 2010
In today’s banking environment, payments data and transactions live on their own islands, separated according to discrete payment businesses or at least discrete geographic units, rather than linked together for holistically serving all these liquidity purposes.