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Ajay Bhalla is chief enterprise security solutions officer for Mastercard. He leads the team that develops product solutions to ensure safety and security for consumers, merchants, partners and governments in their global network. (He serves on the company’s management committee.) So when he talks about digital identity, he is worth listening to. “What we needContinue reading “The future of digital identity verification will be as simple as saying ‘Hi, it’s me’ | City A.M.”

xxx “The Cities for Financial Empowerment Fund works with Bank on DC and other groups to provide low-cost checkings accounts. ‘If someone is buying a salad or something, and it’s $6, and they need to swipe instead of using cash, the real underlying issue is they don’t have a bank account with debit-card functionality,’ saidContinue reading “Do cashless restaurants discriminate against the poor? D.C. lawmakers think so. – The Washington Post”

xxx If the past is any predictor for the future, the future of cards is very clear: there won’t be any of them, and we’ll be using our mobile phones as a mass market payment mechanism before 2012. From 50 not out | Consult Hyperion. Interestingly, I go this wrong. Because what actually happened wasContinue reading “50 not out | Consult Hyperion”

xxx It’s no exaggeration to say that TfL’s technology has transformed the payments industry, and contactless is quickly becoming ubiquitous From Digital Currencies And Credit Cards Have Subways To Thank For Their Existence. xxx

xxx The nightmare for the U.S. financial industry is that a technology company—whether from China or a homegrown juggernaut such as Amazon.com Inc. or Facebook Inc.—replicates the success of Alipay and WeChat in America. The stakes are enormous, potentially carving away billions of dollars in annual revenue from major banks and other firms. From WhyContinue reading “Why China’s Payment Apps Give U.S. Bankers Nightmares”

xxx if a bank fails to perform a critical verification step, then you might have a problem From Shimmers and Skimmers: Fraudsters Find Opportunity in EMV Chip Cards – PaymentsJournal. Hello. What are they talking about? What is this “critical verification step” that banks might fail to perform (or, at least, banks not advised byContinue reading “Shimmers and Skimmers: Fraudsters Find Opportunity in EMV Chip Cards – PaymentsJournal”

This was one of the elements of the EBA’s PSD2 Guidelines that the FCA highlighted. ASPSPs must avoid imposing unnecessary requirements (such as additional consent checks) when designing and implementing their dedicated interfaces From FCA statement on EBA’s draft PSD2 Guidelines and Opinion for banks and others involved in open banking | FCA. xxx

xxx Police believe the gang had been selling fake identification documents to help people gain work or services illegally, and open bank accounts to launder money. From Inside fake passport factory ‘where counterfeit documents were made’ | Metro News. xxx

xxx Corda is a distributed ledger platform, not a traditional blockchain platform. It was never designed to be one. From r3.com » Blog Archive » When is Blockchain not a Blockchain?. xxx

xxx Britain’s ATMs are disappearing at a rate of 300 per month across the UK From Three hundred cash machines disappearing each month leaving villages at risk of ATM blackout. xxx