Banking Tech Blogs - Latest Comments

Re: Mobile payments: the micro-finance example.

quick loans — Sat, 07 Jul 2012 06:31:52 -0000

The micro loans are also very good from the a growing concern as they are generally on the reduced part in comparison to other loans that you get from the financial institutions, however, the amount of the loan will also be on the reduced part.

Re: U.S. Bank Foreclosure Fraud in Action

Fort Myers foreclosures — Tue, 24 Jan 2012 21:53:54 -0000

It's been a while since this article was posted, but I'm still glad to see it. I can still use some information from this.

Re: U.S. Bank Foreclosure Fraud in Action

Fort Myers Property Management — Wed, 07 Dec 2011 10:15:11 -0000

Yeah, the authorities should act on this. Lives of families especially the children are at stake here, they shouldn't be in their offices now. Fraudulent scam artist should be on the streets!

Re: U.S. Bank Foreclosure Fraud in Action

Las Vegas Foreclosures — Thu, 17 Nov 2011 12:30:32 -0000

Banks shouldn't make the homeowner's suffer more. If they manage to have a more easy way for them and the homeowners to settle mortgage loans, i think they should do so. In fact, foreclosure processes are more expensive than having the property in a short sale..

Re: For Oracle to take out IBM requires more than talk

Guest — Wed, 16 Nov 2011 23:31:50 -0000

Well, good news for me,
thanks!

Re: Visa Europe head declares cash the enemy

rondelnevo — Mon, 28 Feb 2011 07:36:01 -0000

It says a lot when even speeches entitled ‘The Cashless Society’ include statistics such as the fact that 78% of all payments in Europe remain cash transactions. That statistic of course proves that consumers are extremely happy with a society that relies largely on cash for all meaningful transactions. It also tells us that just because technology may be available, in this case to create the truly dismal prospect of a "plastic-only" society, that does not mean that consumers will willingly accept such technology.

Cash is the payment method of choice for over 90% of transactions worldwide and in using cash consumers are exercising their right to choose. That right should be respected by all those who value personal freedom.

Re: Do believe the hype: the mobile channel is rising

infosyspressteam — Tue, 01 Feb 2011 05:18:49 -0000

This time the hype is for real and justified; m-payments might be in its infancy, but momentum for the technology is gaining pace and appeal. Neil Ainger rightly points out; there’s been a flurry of announcements recently. Orange is planning to launch its m-payments scheme with Barclaycard this summer, O2 trialled mobile phones to pay for London travel instead of Oyster cards, and at the end of 2010, Visa announced the approval of mobile contactless payment systems for commercial use.
M-payments really is riding the wave of a revolution, especially when you consider how it enables the consumer to manage micro-payments, and it opens up an opportunity for the ‘unbanked’, especially those in the developing markets.

In the developing markets millions may not have access to bank accounts but they do tend to use pre-paid mobile phones. With m-payments, there is an opportunity for banks to work indirectly with this population to encourage a safer way of looking after their money. By working with Visa or Mastercard, banks could provide payroll cards to employers, which could be offered to employees and work in the same way as a credit or debit card would. Therefore, the customer would have a safer means by which to transport their cash.

The mobile phone is also the channel of choice for most consumers and if they can carry less cash by making payments for micro purchases via their mobile phone, they would feel safer and less vulnerable when shopping on the streets. However, contactless card payments will leave consumers open to 'tap and go' fraud as Chip and PIN verification is not required on items under £15, although a PIN will be needed to reset the contactless card once a £50 limit is reached. To ensure an uptake, the providers will need to assure consumers that they have secured the solution at a device, application and transmit ion level.

Generation Y will certainly be on board, but the question is, how will banks drive m-payment uptake in the older generations, who may not be mobile savvy, but are cash rich?
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Comment from Hemant Lamba, Banking and Capital Markets Practice, Infosys, and posted by Infosys Press Team