All articles by EPI editorial
EPI editorial
Two decades of solid progress
Polands electronic payments infrastructure has been virtually built from scratch over the past 19 years The result is a payments system that has benefited from the late-starter advantage of largely avoiding legacy payment instruments, and a consumer market generally keen to adopt new technologies. The year 1989 was one of tumultuous change for Poland as it began a transformation into a market economy
IBM raises the bar for internet security
Once criminals have succeeded in infecting a home computer with malicious software (malware) such as the Trojan virus Silentbanker, even two-factor identification becomes useless in protecting banking customers from online fraud This warning comes from, among others, US security software developer Symantec, which first detected Silentbanker in December 2007. US technology developer IBM believes it has the answer to the threat in the form of its Zone Trusted Information Channel (ZTIC), a device for securing online banking transactions that is now available to banks for trials
VocaLink setting the pace in European payments market
One of the most ambitious payment services ever conceived, the UKs Faster Payments has exceeded its creators initial expectations. Following on from the success, an executive with service developer and operator VocaLink discussed implications of real-time payments with EPI and the companys bold expansion plans Back in 2005, 13 major UK financial institutions set out requirements for a payments processing service that could guarantee that payments made via internet, phone and standing orders would be approved within a matter of seconds and be in a recipients account within two hours.
41st Parameter shines in Mexico
US online security specialist 41st Parameter has taken its expertise south of the border, teaming up with Mexican airline and travel industry payments processor Mercadotecnia Ideas y Tecnologa (MITec) to fight card not present (CNP) fraud.
Steadily breaking the cash habit
A surge in the use of debit cards and widespread adoption of online banking has enabled Sweden to make impressive progress in eliminating paper-based payments in recent years However, for the countrys central bank, reducing the use of cash for out-of-pocket spending remains the big challenge Migrating society from cash to electronic payments has long been a key focus of central banks, but few have devoted as much time and effort analysing the social dynamics at work as Swedens central bank, the Sveriges Riksbank.
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High praise for JPMorgan’s Order-to-Pay invoice solution
JPMorgans electronic invoice and payments service Order-to-Pay has been heaped with accolades in a study undertaken by research firm Forrester Research.
Fraud risk concerns over UK’s Faster Payments system
Launched on 27 May, the UKs Faster Payment (FP) transaction processing system running on VocaLinks Real Time Payments Platform guarantees that payments made via phone, internet and standing orders will be in a recipients account within two hours a far cry from the previous three-day clearing period.
Reserve Bank of India lays down mobile banking rules
In a groundbreaking step towards promoting the creation of a national mobile phone based payments system the Reserve Bank of India (RBI) has published operational guidelines for banks offering mobile payments services to their customers.
NACHA promises payment revolution
US industry body the National Automated Clearing House Association (NACHA) has hailed its new internet consumer purchase and bill payment service, Secure Vault Payments (SVP), as a revolutionary advance in electronic payments US industry body the National Automated Clearing House Association (NACHA) has hailed its new internet consumer purchase and bill payment service, Secure Vault Payments (SVP), as a revolutionary advance in electronic payments. Currently the subject of a pilot project, SVP allows consumers to transact online via the automated clearing house (ACH) system that serves 11,200 US financial institutions.
S1 selects Yodlee to enhance internet banking offering
S1 selects Yodlee to enhance internet banking offering S1, a major player in the US online banking technology industry, has announced that it is to integrate online banking application vendor Yodlees PersonalFinance and DirectPay services into its offerings. The Yodlee services, which will be marketed as a part of S1s Postilion units Retail and Business Internet Banking solutions, will be available in the third quarter of 2008.