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December 15, 2023

On the web

December 21, 2021

On the web

DeFi Risks and the Decentralisation Illusion


“There is a “decentralisation illusion” in DeFi since the need for governance makes some level of centralisation inevitable and structural aspects of the system lead to a concentration of power. If DeFi were to become widespread, its vulnerabilities might undermine financial stability. These can be severe because of high leverage, liquidity mismatches, built-in interconnectedness and the lack of shock absorbers such as banks.”

June 28, 2021

On the web

April 9, 2020

Top Post

Where Necessity Meets Innovation – Government Disbursement in the Time of COVID-19

Payments Views

“Given the coronavirus pandemic and its pressure on governments and individuals alike, Glenbrook’s Global Practice has been looking into how emergency social disbursements can be made quickly to the most vulnerable populations. In our examination, we found some exciting and hopeful examples of how governments and fintech players have mobilized to meet this need in both Brazil and Colombia.”

April 3, 2020

On the web

Stimulus Funds Should Be Delivered Via Mobile Payments


“Now is the time for governments to be promoting and employing mobile-based tools to assist families and businesses harmed by the pandemic. From mobile passports to re-admittance into normal life to mobile payment methods, mobile technology could be our best weapon in the fight against coronavirus. Delivering stimulus funds via mobile payments will help more people get stimulus funds faster, and may help spur adoption of mobile payment systems and reduce the unbanked percent of the U.S. population.”

March 26, 2020

On the web

Corona Virus and the Money Transfer, Remittances and Cross-Border Payments Industry


“I guess everyone in the industry is asking themselves the same questions: How is the industry going to be impacted by the Coronavirus? Even if the industry was very resilient through the 2007-2008 financial crisis and the effects on the volume of operations were not as acute compared to other industries (and other financial sectors), we will probably see a decrease in volume of operations in most markets.”

March 2, 2020

On the web

Who Needs Cryptocurrency FedCoin When We Already Have A National Digital Currency?


“The cryptocurrency enthusiasts are at it again, with a new name and even more ambitious goals than before: now they want a “national digital currency.” Hurry! The Chinese will beat us to it, and we’ll be left behind! Somehow, no one in the debate acknowledges the obvious fact that we already HAVE a national digital currency. It’s fast, cheap and secure! It has no issue with regulators, and it’s accepted everywhere. Who knew? It’s called … the US dollar.”

January 28, 2020

On the web

Most Consumers Don’t Trust Mobile Payments. There’s a Way to Fix That.

American Banker

“Only about half of millennials believe their bank’s mobile app is secure. While less than half of baby boomers have faith in mobile banking security, the majority are still “app-rehensive’” to begin using mobile banking, payment and financial services platforms. By taking steps to improve the security of their apps, and informing consumers about how these measures protect confidential data from cybercriminals, companies can inspire consumers to become loyal customers who use their apps more frequently.”

January 27, 2020

Top Post

Every Company Will Be a Fintech Company

Andreessen Horowitz

“In the not-too-distant future, I believe nearly every company will derive a significant portion of its revenue from financial services. In this post, I’ll delve into the infrastructure that’s enabling this transformation and, more importantly, how that’s going to fundamentally change banking as we know it. Every company, even those that have nothing to do with financial services, will have the opportunity to benefit from fintech for the first time.”

On the web

Banning Cashless Stores in New York Won’t Fix the City’s Deeper Problem


“New York’s ban has at least highlighted a critical issue: A surprisingly large number of Americans still don’t have a bank account. Around 11% of New Yorkers are bankless , and some 22% use alternatives like check cashing stores, according to the Department of Consumer Affairs. In the US overall, about 6.5% of households (pdf) didn’t have a checking or savings account in 2017.”

January 23, 2020

On the web

Deutsche Bank Research: “The Plastic Card Could Be on Its Way Out Over the Next Decade While People Will Still Be Paying With Humble Notes and Coins”


“Many ‘decade ahead’ predictions prove unreliable. And Deutsche Bank admits this special edition of Konzept cannot be a perfect crystal ball. Regardless, the bank presents 24 contrarian ideas for how the 2020s may evolve because they believe it is best to be prepared for the unexpected themes that may arise over the coming decade. „After all, if the 2010s have taught us anything it is that the trends of the prior decade are no guide for the decade to come.”, the researcher analysts of Deutsche Bank said.”

January 15, 2020

On the web

Opinion: Canada’s Sub-standard Payments System Is Only Supporting the Incumbent Banks, Not Canadians

The Globe and Mail

“As a course correction, Finance Canada must seek legislative amendments to the Canadian Payments Act authorizing paytech companies as eligible members of Payments Canada and enshrining competition as a stated public policy objective for the payments system. Furthermore, the Minister of Finance should issue a directive to Payments Canada requiring the completion of the proposed real-time payments system no later than the fourth quarter of 2021. Canadians have waited far too long to reap the benefits of an efficient and competitive payments system and cannot afford to wait any longer.”

January 14, 2020

December 9, 2019

On the web

If You Use Venmo the Good Way, Your Life Will Improve


“So the next time one of your friends is feeling sad—this should only take 30 minutes or so—try sending them a little treat in the form of a small-sum Venmo. They’ll feel good. You’ll feel good. And when we’re all feeling good, that’s when we rally together, high off selflessness or selfishness or some blend of both, and realize we’re a self-contained economy that circulates the same five dollars!”

December 5, 2019

On the web

Innovate & Differentiate for True Financial Inclusion: Sachin Bansal


“2020 once seemed futuristic enough to envision transformation at scale, yet close enough to set as a target and hit goals. As 2019 draws to a close, Mint invites corporate leaders to share their vision for the next decade. Sachin Bansal, co-founder and CEO, Navi Technologies, co-founder of Flipkart and technology entrepreneur, shares five ideas with Madhurima Nandy on the importance of financial inclusion.”

Mint: Late-stage Adversarial Interoperability Demonstrates What We Had (And What We Lost)

Cory Doctorow / Boing Boing

“If the banks had been willing to offer an API, Mint’s job would have been simpler. But despite a standard format for financial data interchange called OFX (Open Financial Exchange), few financial institutions were offering any way for their customers to extract their own financial data. The banks believed that locking in their users’ data could work to their benefit, as the value of having all your financial info in one place meant that once a bank locked in a customer for savings and checking, it could sell them credit cards and brokerage services.”

November 27, 2019

On the web

The Future of Banking Is … You’re Broke


“The latest wave of tech-based financial startups have a new angle on the banking sector: They’ll assume that everyone is out of money, then try to monetize their brokeness. So-called neo-banks , or challenger banks, have been all the rage in Europe and Australia for the past few years. Now they’re starting to get attention here in the US, with names like Chime, Varo, SoFi, Current, GoBank, and even—heaven help us— booyah! . Yes, the exclamation point is part of the name. Like Yahoo!. Cutting edge, I know.”

October 7, 2019

On the web

2020 Could Be the Year Bitcoin’s Fee Market Is Put to the Test

Eli Dourado

“The past two “halvenings” have passed without incident. Bitcoin’s price has increased consistently over the past two reward eras, so that the dollar amount of the block subsidy is now higher than it ever was in either of the earlier eras. The price has also grown about as fast or faster than overall transaction volume. The next halvening may be more interesting. With the block reward falling to 6.25 bitcoins, Bitcoin may need for the first time to rely on fee revenue to provide adequate security. Let’s run some numbers to see how this could play out.”

September 27, 2019

On the web

Privacy in a Digital World


“Technological progress has created a situation of severe tension and incompatibility between the right to privacy and the extensive data pooling on which the digital economy is based. This development requires new thinking about the substance of that right.”

September 24, 2019

On the web

September 23, 2019

On the web

“We’re living in an interesting time for payments, with consumer and business behaviours shifting right in front of us. My predictions for the next three to five years is that card payment volume will continue to drop. Account payments on the other hand will rise, and consumers will find one mobile app to manage their finances. Banks – start preparing.”

September 16, 2019

On the web

The Ascent of Digital Money – The Boston Globe


“The advent of various kinds of digital currency creates a new state of affairs. Since the launch of Bitcoin, the world has seen a wave of monetary innovation. Cryptocurrencies have proliferated. Many of these, it is true, have been mere experiments. Some have been downright frauds. And maybe it will turn out that blockchain as a technology has more appropriate uses than money. But those who have written off digital money will soon look as silly as the people who said the Internet would never replace the fax machine.”

August 27, 2019

On the web

August 26, 2019

On the web

Why Is Uber Hiring So Many Fintech People?


“The best prospects for Uber financial services aren’t the firm’s customers–it’s their drivers. According to one survey , a little more than half of rideshare drivers are 30 to 49 years old, and a third are either African-American or of Hispanic heritage. Another survey found that nearly four in ten Uber drivers rely on the rideshare service for the bulk of their income. In addition, almost half (47%) of drivers have not purchased rideshare insurance. This is the bulls eye of Uber’s financial service target market: The older Millennial/Gen X, non-white driver who relies on the service for his income, with unmet insurance (and very likely) borrowing needs.”

August 12, 2019

On the web

Payments Companies Like Square, Skrill And Circle Now Driving The Bitcoin Revolution


“Banks began seeing cryptocurrencies as a non-event, then they decided to laugh at it – Jamie Dimon’s anti-Bitcoin rhetoric springs to mind – then they began fighting it by putting out their own coins – JPM coin – which I think we can all call a win for Bitcoin.   For payments companies, it has been a similar path, except I would add another step in there as the likes of Square, Skrill and Circle are actually starting to champion Bitcoin and are backing the digital currency to be the next big thing in the payments space.”

August 5, 2019

On the web

Cashless Stores Alienate Customers in the Name of Efficiency


“On the surface, the move to a cashless society may seem like a win-win situation. However, the only clear winner would be the federal government. In a cashless environ­ment, money laundering and tax evasion would become much more difficult. For brands and consumers, the change is less clear.”

July 17, 2019

On the web

Visa’s New ‘Visa B2B Connect’ Could Become A Major Growth Driver

Seeking Alpha

“Visa ( V ) is launching a new service, Visa B2B Connect, to facilitate cross-border business to business transfers. The service launched on June 11th connecting 30 global trade corridors . The service uses a distributed ledger system to enhance transparency and decrease the likelihood of fraud. There exists a significant opportunity for growth in this area, with the global B2B cross-border payment industry taking in $127 billion in revenue in 2017 . Visa’s brand and expertise in the payment industry should help aid its expansion into this payment area and the greater efficiency offered by their system should help attract customers.”

July 16, 2019

On the web

Why (Almost) Everybody Hates Facebook’s Cryptocurrency Libra


“Facebook Inc. says its mission is to “bring the world closer together.” Its plans to launch a digital currency called Libra have succeeded in uniting central bankers and financial regulators from around the globe, along with U.S. President Donald Trump and his Democratic opponents in Congress. They’re dubious about the idea, at best. But Facebook isn’t alone in pursuing what is known as a “stable coin,” a form of cryptocurrency that so far has proved far more boring than, say Bitcoin. While some regulators are reacting to the idea that Facebook could leverage its 2 billion users to create a de facto global currency, other industry analysts wonder whether stable coins like Libra will find any widespread use at all.”

July 8, 2019

On the web

How Will Brexit Impact the Payments Industry in the UK? An Earthport Insight

Fintech Magazine

“As the post-Brexit outlook continues to remain uncertain, it is difficult to predict the precise impact on the UK financial sector. There’s no denying that the uncertainty in any form makes short term and long-term operations trickier. To that end, being prepared, agile and remaining positive is more important than ever in these unprecedented times.”

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