Category Archives: Uncategorized

xxx The long overdue migration of intangible financial services, which are purpose-built for digital distribution, away from pens and paper will be facilitated by digital ID verification From Shayne Elliott’s revolution at ANZ | afr.com xxx

xxx That’s the world in which Blue, the new Twitter-verified-users-only offering from dating app Loveflutter, is claiming to operate in. “In an era of catfishing and fake identities, authenticity is key,” says the accompanying press release, “which is why we’re leveraging Twitter’s world-class verification system to make dating safer.” From In the online dating jungle,Continue reading “In the online dating jungle, unverified by Twitter doesn’t mean undesirable | Sam Diss | Opinion | The Guardian”

xxx The UK’s Payment Strategy Forum has delivered a blueprint for the future of the nation’s payment system, setting out design and implementation approaches for the construction of a new ‘National Payments Architecture’. From PSF lays down blueprint for new UK payments architecture xxx Since publishing our Strategy, we have reviewed the approach and agreed onContinue reading “Blueprint for KYC data sharing in the UK”

xxx In our Strategy, we prioritised the collaborative development of requirements and rules for 3 EUN solutions. These are: ‘Request to Pay’ which addresses detriments arising from a lack of sufficient control, flexibility and transparency in the current payment mechanisms to meet the evolving needs of some end-users. Apart from anything else, this is whyContinue reading “End user needs”

xxx   xxx Cifas, which aims at reducing financial crime in the UK, said that the number of “misuse of facility” frauds involving those under 21 years of age, has risen sharply. From Gangs force thousands of teens to become ‘money mules’ | The Independent xxx Payment Strategy Forum’s “Blueprint for the Future of UK Payments”Continue reading “MUles”

Many years ago, I worked on a couple of projects looking at the future of payments. My conclusion, and that of my colleagues, was that the payment systems of the future would very likely be push rather than pull. The reasoning is quite straightforward: push payments are simpler and cheaper (pull payments, such as DirectContinue reading “POST Push! Push! Push!”

Some years hence at a party of some kind in the West Country, I found myself chatting to a farmer. He was telling me about sheep farming, and making the point that it would be wholly uneconomic without massive taxpayer subsidies. Naturally I asked why these subsidies were provided. After all, if management consulting wereContinue reading “Tax breaks for farmers causing ‘subsidy addiction’, government adviser warns”

xxx According to Cifas, the fraud prevention service, there has been a huge rise in the number of young people involved in “misuse of facility fraud”, where an account, policy or product is misused by the genuine account holder. There were 4,222 cases involving a person under 21 in the first six months of thisContinue reading “Gangs pay teenagers to launder crime cash | News | The Times & The Sunday Times”

xxx What is the finance sector supposed to do? Essentially, it needs to perform a number of basic economic functions. First and foremost, it operates the payments system without which most transactions could not occur. Secondly, it channels funds from individual savers to the corporate sector so the latter can finance its expansion. In doingContinue reading “What’s wrong with finance”

xxx “Around one-third of all point-of-sale transactions were conducted using contactless cards in 2016… As a share of card payments only, nearly two-thirds of all point-of-sale payments were contactless in 2016.” From Tap-and-go threatens cash economy – Convenience & Impulse Retailing xxx