 |
14 May 2004 06:54 AM
|
|
|
SMS Seen As Key To Mobile Payments Market :
|
|
|
SMS, the most-used mobile phone application, will facilitate a ‘new’ generation of mobile payments in the next year, with the premium-rate SMS (PSMS) sector in the US tipped to exceed USD 1 billion in 2005 alone. Operators
|
|
|
14 May 2004 06:28 AM
|
|
|
Merchants’ PIN Pad Adoption Lags Debit Growth:
|
|
|
PIN debit, as a distinct payment category from credit, is taking market share from cash and checks, but the biggest hurdle to its increased use, is in encouraging smaller merchants to install PIN pads in their stores.
|
|
|
14 May 2004 05:43 AM
|
|
|
HSBCNet Simplifies Clients’ Cash Management :
|
|
|
HSBC Bank is to roll out its web-based cash management platform, in which it has invested USD 35 million in the past five years, to customers in 17 countries by the end of June 2004. The original platform launched in Hong
|
|
|
14 May 2004 05:21 AM
|
|
|
US Banks Hedging Their Bets On The Debit Market :
|
|
|
Many US consumers would punish retailers or banks that imposed fees or attempted to restrict the range of available payments products, according to a new survey by debit network, Pulse EFT. Of 716 consumers profiled by Analytica, 81 per cent would be “very unhappy” if a merchant no longer accepted their debit card, and almost 30 per cent would cease shopping there. Banks
|
|
|
12 May 2004 07:18 AM
|
|
|
Federal Reserve Touting Benefits Of E-Payments :
|
|
|
While the US Federal Reserve is promoting the Check 21 Act as improving payments efficiency, retailers will benefit from real-time check fraud detection at the POS and are expected to invest in fraud-screening solutions. Banks
|
|
|
12 May 2004 07:02 AM
|
|
|
Cash Management A Win For Deutsche, Barclays :
|
|
|
Corporate customers of UK bank, Barclays, will be able to use Deutsche Bank’s cross-border cash management services for account services, domestic and international payments and e-banking solutions under a partnership between
|
|
|
11 May 2004 09:47 AM
|
|
|
Banks Need Real-Time Systems For Profitability :
|
|
|
Banks that fail to implement real-time systems risk losing revenues as their corporate customers demand support for automated risk-management, fraud detection and anti-money laundering functions. Existing batch-
|
|
|
11 May 2004 09:35 AM
|
|
|
Future eCommerce Growth May Be Hit By Phishing :
|
|
|
In 2003, the US financial industry lost USD 1.2 billion to phishing, or the online solicitation of consumers’ personal data by hackers from a supposedly trusted source such as a bank, credit card firm or e-tailer,
|
|
|
07 May 2004 05:08 AM
|
|
|
EMV Helps Banks Cut Cardholder Acquisition Cost :
|
|
|
Banks issuing EMV chip cards stand to increase their revenues and market share, given consumers’ appreciation of the greater security provided by the cards, according to a white paper by solutions firm, Welcome Real-time. With the average acquisition cost for a new credit cardholder estimated at USD 120 apiece, any increase in a bank’s issuing
|
|
|
07 May 2004 04:45 AM
|
|
|
A2A Services Enable US Banks To Generate Fees:
|
|
|
Account-to-account (A2A) services are a potential revenue source for banks and credit unions seeking to move payments to the core of their operations, and to extract more fees from online services. In a 2002 report, Celent noted that “if banks were to implement A2A, they could generate up to USD 8.5 billion in revenues”, and just
|
|
|
06 May 2004 05:09 AM
|
|
|
Direct Payments Used By Half Of US Consumers :
|
|
|
Sixty per cent of US consumers are now using direct deposit facilities through the ACH, while over 50 per cent are making pre-authorized payments for recurring bills such as mortgage payments, according to NACHA. Apart
|
|
|
05 May 2004 03:37 AM
|
|
|
PayPal Trying To Lure Enterprises To Its Platform :
|
|
|
PayPal’s opening of its application programming interfaces (APIs) to developers and enterprises implies the firm to be moving out of the SME segment, into recurring payments at billers, and into the EFT market, according
|
|
|
05 May 2004 03:34 AM
|
|
|
Credit Cards Driving US Vending Machine Market :
|
|
|
Credit card-enabled vending machines are making inroads at new, untapped retail locations such as airports, fast-food restaurants and parking lots as merchants realize the potential to increase their profit margins. Apart from the ability to reach consumers 24 hours a day, vending machines enable merchants to launch new products and extend their
|
|
|
04 May 2004 12:37 AM
|
|
|
US Consumers Prefer To Pay Bills At Banks’ Sites :
|
|
|
US consumers are gravitating towards their banks’ web sites to make bill payments, due to the ability to manage their finances at a single point, according to a survey by MasterCard and Harris Interactive. Apart from liking the convenience of a one-stop financial service and the ability to pay their bills in one place, the consumers surveyed cited the peace of mind
|
|
|
04 May 2004 12:25 AM
|
|
|
EU To Regulate Cross-Border Settlements :
|
|
|
Cross-border payments and securities trading initiatives within the EU are progressing, with the pan-European ACH, Step2, in talks about linking its system to the global SwiftNet network, and the issuing of a EU directive to
|
|
|
|
|
|
|