By: Eileen Goode (@eileengoode) When businesses are paying each other, checks remain the dominant vehicle, representing on average nearly half of all B2B payments. Their primacy, however, is slipping. In 2004, 81 percent of payments were made by check, but by 2013 the rate had...
The following is based on remarks made by David S. Evans at the New York Federal Reserve Board-New York University Conference on Regulating Consumer Financial Products, January 6, 2010, New York, NY. Let’s begin with a puzzle raised by the previous session on who should regulate consumer protection....
With just more than two weeks until mandatory compliance with the Single Euro Payment Area (SEPA) system goes into effect, companies − particularly small businesses − are scrambling to ensure they upgrade their systems by the Feb. 1 deadline. First conceived in 2000 and initially...
The European Central Bank (ECB) released its second Single Euro Payments Area (SEPA) migration report on October 24, providing an extensive overview of how various eurozone stakeholders are succeeding, and struggling, with the upcoming February 1, 2014, deadline for SEPA credit transfer (SCT) and SEPA...
White Castle recently launched a mobile-ordering service, but the regional quick-service restaurant chain reportedly is holding off on loyalty initiatives. White Castle’s app allows users to place orders from their device after they open an account. The app, however, does not include features that could...
The European Central Bank (ECB) has approved a guide for payments security assessments being conducted within in the eurozone. The guide helps those planning to tighten point-of-sale security, shore up authentication technologies and provide additional security measures for stored consumer data, according to a Feb....
Ingenico is combining its European business, or Euro-SEPA, and its Transaction business under a new entity managed by Pierre Antoine Vacheron. The initiative builds off Ingenico’s acquisition and integration of Ogone. The new payment service will focus on both offline and online transactions. “Recent business...
During an interview in late January, Discover Financial Services CEO David Nelms suggested the company soon may enter the student loan refinance. Speaking with American Banker, Nelms confirmed that Discover was considering the move. ”I do think it’s likely that we’ll be launching a [student...
New Zealand’s Westpac says is working on a new banking app for Google Glass. The app will allow users to check their account balance while on the go and without the need to actually log into the bank’s online system, Finextra reported on Feb. 3. “By the...
