A library of snippets
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Bruce was changing his business point of sale system. The system suppliers told him Eftpos would be free, the direct debit card – which he says few people use – would also be free, but payWave would be about 1.35 per cent and credit transactions cards even more expensive.
From SunLive – You wave and we all pay – The Bay’s News First
I’m off down to New Zealand shortly because the nice people at PaymentsNZ have invited to me to deliver a keynote at their 2016 conference.
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Bank reserves can’t be used for settlement on a permissioned blockchain: they can only be used for settlement via a central bank RTGS system. In contrast, our Utilities Settlement coins – we assume – would be used for settlement on a permissioned blockchain collectively owned and managed by the consortium…. why would this arrangement be of interest to a bunch of banks? What advantages would it give them over existing central bank RTGS systems?
From ‘Settlement Coin’ is All About Banks, Not Blockchain – CoinDesk
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Beyond lessening the regulatory requirements and thus lowering the barriers to entry, two of the main advantages of a regulatory sandbox are the transparency of the licensing / application process, as well as the support regulators can provide to FinTechs to guide them through the process, speeding up the product development cycle and launch.
From The Regulatory Sandbox | Ariadne Plaitakis | Pulse | LinkedIn
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Patients who use fake medical notes to take extra time off work could be struck off by their GP.
Websites are offering bespoke notes purporting to be from a customer’s family doctor – for as little as £10.
From GPs could blacklist patients who use a forged doctor’s note to pull a sickie | Daily Mail Online
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The team built credit card prototypes that can communicate directly with each other by reflecting Bluetooth signals coming from a smartphone. This opens up possibilities for smart credit cards that can communicate directly with other cards and enable applications where users can split the bill by just tapping their credit cards together.
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Amsterdam Falafelshop owner Matt D’Alessio said he stopped taking cash in December when he realized more than 85 percent of his customers — a mix of tourists and Boston University students — paid with plastic and that he could save employee time and payroll costs by eliminating cash registers and trips to the bank.
[From
No cash allowed: Stores refusing to accept money- Boston Globe
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Currently, approximately 400–500 of the company’s vending machines include cashless payment readers, which has resulted in about 32 percent of Coastal Canteen’s average machine sales coming from cashless usage.
[From
Cashless Payments Strengthen Consumer Choice | PYMNTS.com
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Large banks’ trading income in Jan-Jun was 37% lower than in 2015, confirming the diminished role it is playing since the financial crisis (it contributes only a tenth to total revenues any more). The emerging single largest problem, however, is fees and commissions. They dropped by a full 10% yoy to the lowest H1 level since 2009. This is confounding banks, which had pinned great hope on them to make up for shrinking interest income.
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Andrew Goodwill, founder of the Goodwill group, which fights fraud, said: “The ombudsman’s ruling, while it will not set a formal precedent, suggests there was a flaw in the due diligence that Lloyds should have carried out when the fraudsters’ account was opened.”
[From
Hope for bank fraud victims: ‘We were robbed of £47,000 – but the ombudsman took our side’
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Ninety percent of the rise in online fraud in the last year can be explained by EMV alone
From Report: Online Fraud Attack Rate Increases 137% YoY – Sept. 1, 2016 CardNotPresent.com
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Snippings