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xxx The anonymity problem can in part be solved by retaining smaller notes and coins; enough for punters to keep buying porn, weed and birthday presents, but not so much as to buy property. The point about financial exclusion is trickier. In a near-cashless world vulnerable groups, such as the poor, the elderly and migrants,Continue reading “The Economist explains: Why some economists want to get rid of cash | The Economist”

xxx “Today’s AML regime was mainly developed in the 1990s, and while it does recognise digital identity, the way that many firms have put it into practice can make it feel paper-based,” admitted [FCA Director of Strategy and Competition] Mr Woolard. From FCA seeks to use ‘regtech’ to lessen reporting burden – FTAdviser.com xxx

xxx arly on a sunlit summer’s morning in Japan, with the last cherry blossoms fading and the wisteria in bloom, more than 100 fraudsters strolled into convenience stores all around the country. With fake credit cards cloned from the information of 1 600 South Africa Standard Bank customers, they made 14 000 transactions, drawing inContinue reading “Standard Bank scam: R300-million ATM heist ups the ante | Business | Africa (Business) | M&G”

xxx o discourage ticket scalping, event organizers ReedPOP required fans to authenticate themselves online before ticket sales began. Would-be buyers were asked to put down a number of credentials — including phone numbers, addresses, and credit card information — in what was dubbed the “fan verification process.” From Comic Con Controversy Highlights Digital ID OpportunityContinue reading “Comic Con Controversy Highlights Digital ID Opportunity for Banks | American Banker”

xxx In order to engage with our customers, ENOC in partnership with Beam, has rolled out Bluetooth Low Energy (BLE) beacons at our service stations to enable payment for fuel and convenience store transactions, allowing consumers to pay through their mobile phones,” From Beam Wallet and MasterCard team up to offer an innovative and rewardingContinue reading “Beam Wallet and MasterCard team up to offer an innovative and rewarding mobile payment experience in the UAE | Global Hub”

This is what I said about it back in 2008. Some time ago, I pointed out that sensible retailers would use ID cards to cut payment schemes out of the transaction loop, by using ID cards as payment tokens and using the ACH network rather than Visa or MasterCard From Digital Identity: I’m sure banksContinue reading “Digital Identity: I’m sure banks have a strategy for this kind of thing”

xxx There’s now some evidence that police cameras reduce complaints and violence, which has led to editorial boards calling for more cameras on officers and some civil libertarians calling for every officer to wear a lapel cam while on duty. From The ‘right to record’ is not a question of technology, but rather power andContinue reading “The ‘right to record’ is not a question of technology, but rather power and policy – TechRepublic”

xxx Wells’ tiptoeing into open APIs by offering them to commercial customers is typical of banks, which see such clients as the test case. Consumer applications hold the greater opportunity, but also carry more risk given cybersecurity and data issues. From The Drumbeat for Open APIs Is Getting Louder | American Banker xxx

xxx Hendrik Kleinsmiede, the director of Visa Europe’s innovation arm Collab, which is backing Sthaler, said the Fingopay technology was less immune to problems such as wet and dusty fingers or fraud. “People are ready to accept biometrics as a secure authentication mechanism,” he said. From Era of plastic credit card to end soon xxx

xxx It turns out machine vision algorithms have an Achilles’ heel that allows them to be tricked by images modified in ways that would be trivial for a human to spot. These modified pictures are called adversarial images, and they are a significant threat. From Machine Vision’s Achilles’ Heel Revealed by Google Brain Researchers xxx