All articles by EPI editorial
EPI editorial
Still very much a work in progress
Working steadfastly under what were for many years the most trying of economic circumstances, the Ukraines central bank has built the foundations of a modern electronic payments infrastructure The big challenge ahead is to break the entrenched dominance of cash in the economy Working steadfastly under what were for many years the most trying of economic circumstances, the Ukraines central bank has built the foundations of a modern electronic payments infrastructure
Venture capitalists bet $100 million on the unbanked
MPOWER Ventures, a venture capital company whose founders hail as being run by electronics payments entrepreneurs for entrepreneurs, has been launched in the US with an initial $100 million to invest MPOWER Ventures, a venture capital company whose founders hail as being run by electronics payments entrepreneurs for entrepreneurs, has been launched in the US with an initial $100 million to invest The prime objective of MPOWER Ventures is investment in seed and early stage companies developing financial services and products for underserved markets.
A system built on co-operation
Four decades in the making, Denmarks electronic payments infrastructure is largely the product of close co-operation among the countrys banks and enthusiastic adoption of electronic payment alternatives to cash Continuing in this tradition, Danes are now in the forefront of internet e-commerce Four decades in the making, Denmarks electronic payments infrastructure is largely the product of close co-operation among the countrys banks and enthusiastic adoption of electronic payment alternatives to cash
Sybase predicts big future for m-banking
mobile banking faces a bright future predicts Sybase, a US based provider of short messaging services to 700 mobile phone service operators worldwide.
Merger to create new American ACH giant
The US largest processor of automated clearinghouse (ACH) transactions will soon emerge out of the merger of the ACH platforms of Bank of America (BoA) and Wells Fargo & Company The joint venture (JV) between the two banks, to be named Pariter Solutions, (Latin for together), is expected to begin payment processing operations in late 2009 Pariter Solutions breaks down traditional, proprietary processing models, said Stephanie Sturgis-Griffin, a senior vice president at Wells Fargo and the JVs CEO designate
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Cheques lead US payment fraud
Exposing the vulnerability of cheques the AFPs 2008 Payments Fraud and Control Survey revealed that of 3,950 organisations surveyed 94 percent that had experienced attempted or actual payment fraud in 2007 were victims of cheque fraud.
OCBC Bank and CUP partner in groundbreaking remittance service
Singapore bank Oversea-Chinese Banking Corporation (OCBC Bank) has partnered with Chinas sole payment card issuer, China UnionPay (CUP), to launch EasiRemit, the first real-time remittance service to China Running on the infrastructure of Singapore payments service provider Network For Electronic Transfers, EasiRemit will enable Chinese expatriates to remit money to their home country via more than 400 OCBC ATMs in Singapore and OCBCs mobile phone banking service from anywhere in the world. According to OCBC Bank, the real-time nature of EasiRemit enables beneficiaries to have immediate access to the cash remitted instead of the usual three to five days waiting time that conventional remittance services typically require.
Lax internet security puts billions of pounds at risk
UK internet users are putting up to £361 billion ($730 billion) at risk by sharing personal data on websites that are either not secure or poorly protected, reveals a study commissioned by internet security services provider VeriSign and undertaken by consultancy and research company YouGov The huge figure was derived from the UKs total internet population and the sum of monetary assets available in UK consumers online accounts, as researched by YouGov
Vodafone builds on its success
UK mobile communications company Vodafones M-Pesa mobile money transfer service, which has been a success in Kenya, has been adapted for use in another country where the vast majority of people have no access to formal banking services Afghanistan Branded M-Paisa, the short message service-based product has been launched in partnership with the countrys largest mobile phone service provider, Roshan The launch of M-Paisa in Afghanistan is an important step forward in Vodafones international roll-out of its money transfer service, said Vodafone partner markets CEO Hatem Dowidar
Fraud follows in wake of ACH boom
The US automated clearing house system is enjoying booming volume growth, spurred by migration to electronic payments and a growing number of users accessing its network.