All articles by EPI editorial
EPI editorial
Bank of America still out front
Despite a spate of US bank mergers, Bank of America (BoA) remains in the lead in terms of online customer numbers reveals a study by specialist internet research firm comScore The study was prompted by the acquisition of failed banks Washington Mutual (WaMu) and Wachovia by Chase and Wells Fargo, respectively For its study, comScore divided online banking clients into two groups based on the number of active customer in the second quarter of 2008:
Single payments area’s uphill road to acceptance
No matter how beneficial new approaches to doing business may be they are often slow to gain acceptance This is well illustrated by many major businesses apparent lack of enthusiasm for the Single Euro Payments Area (SEPA) indicated by a survey of corporate treasurers undertaken by UK transaction service provider VocaLink The first taste of the new payments regime came on 28 January this year with the launch of the SEPA credit transfer scheme
Bling Nation takes on the big guys
If US start-up payments processor Bling Nation has its way, large payment service providers and card issuers are facing the prospect of falling revenues in the US local community bank and credit union market Spearheading Blings drive into this market is a solution which supports payments between small financial institutions local demand deposit account (DDA) customers and their merchant customers by bypassing the conventional debit payment model and replacing it with local closed loop payment network
Benefits of cheque imaging remain illusive half a decade after ‘Check 21’ introduction
The US 21st Century Act, or Check 21 as it is better known, came into force in October 2003, paving the way for the banking industry to adopt electronic cheque imaging.
NACHA offensive against cheques
The National Automated Clearing House Association (NACHA) has come up with a creative way of encouraging more US companies to convert employee wage and salary payments from paper cheques to direct deposit.
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Green is nice but cash is better
There may be compelling evidence that switching from paper to online bill payments is environmentally friendly, but when it comes to motivating UK consumers to kick the paper habit a cash incentive is a bigger incentive This, perhaps not unsurprising, fact was revealed by a survey of online banking users commissioned by UK electronic bill presentment and payment service OneVu. According to OneVu, 31 percent of respondents rated receiving an incentive or discount from a biller as the most likely reason for using an online billing service, with just 17 percent being influenced by a reduction in the risk of identity fraud and only 6 percent by environmental considerations.
Better deal for South Pacific islanders
The remittance market in the South Pacific is set to become tougher for money transfer specialists thanks to an initiative launched by the Australian Agency for International Development (AusAID) and the New Zealand International Aid and Development Agency (NZAID) Focused on remittances from Australia and New Zealand to eight South Pacific island nations, the objective is to lower remittance costs for migrant workers by enhancing market competitiveness and transparency The remittance market in the South Pacific is set to become tougher for money transfer specialists thanks to an initiative launched by the Australian Agency for International Development (AusAID) and the New Zealand International Aid and Development Agency (NZAID)
ATMIA acts to allay security fears
Global ATM industry body the ATM Industry Association (ATMIA) has reacted to what it believes are unwarranted concerns relating to ATM security. Indeed, the ATMIA international director Lana Harmelink stressed that the ATM is usually unfairly implicated by the press when cases of card fraud are reported Global ATM industry body the ATM Industry Association (ATMIA) has reacted to what it believes are unwarranted concerns relating to ATM security.
Mobile NFC transport ticketing era dawns in Italy
Italys first public transport ticketing service using contactless payments technology incorporated in mobile phones is to be launched by Telecom Italia Mobile (TIM), the mobile carrier unit of the countrys largest telecommunications company Telecom Italia Italys first public transport ticketing service using contactless payments technology incorporated in mobile phones is to be launched by Telecom Italia Mobile (TIM), the mobile carrier unit of the countrys largest telecommunications company Telecom Italia For the service TIM has selected Netherlands electronic payments technology developer Gemalto to supply SIM cards with embedded near field communications (NFC) transport applications.
Mobile banking forecasts diverge
Use of mobile devices for banking, payments and remittances continues to garner much attention. It is also a subject that has recently spawned numerous surveys and research reports which have in some instances yielded widely digressing views on the future of this potentially revolutionary technology.