Account number portability might make it easier for consumers to switch bank accounts, but it’s a mistake to think that bank account numbers are like mobile phone numbers.
A suggestion for doing something about account switching in the UK
Category: Markets
Time and amazonisation in payments
I had a lovely time at the Payments Forward afternoon tea discussion on “When do you build, buy or partner to innovate in payments”. But in payments, new services are more likely to “assembled” aren’t they?
A new approach at Next Bank Europe
I think I got a clear steer on areas for innovation at Next Bank Europe in Barcelona, and you won’t be surprised to discover that the top ones are all related to identity, not money.
No need for Oyster in London any more
A big story to finish the week. You can now travel around London on the buses, tubes, trams and docklands light railway without having to queue for tickets or reload your Oyster. You can now use your contactless payment cards, stickers, wristbands and goodness knows what else instead.
The value in payments (isn’t payments)
If it is true that transaction fees for payments are going to continue to fall, then what transaction fees will merchants pay instead?
TAP into Nigeria
One of the largest projects that Consult Hyperion has been working on in the past year is the innovative TAP electronic voucher scheme in Nigeria. This has half a million users already and we thought you’d like some details on this amazing system for human-powered contactless mesh networking.
API Blast part 2: ECB, EBA and DAG
In time, banks are going to be “Amazonised” and will open their APIs both internally and externally. So what should the focus of the API be? The customer, maybe, rather than their money.
Targetting decoupled debit
All other things being equal, it seems to me that the merchants will want to move to payment solutions that go direct to the customer’s payment account. This mean incumbents have to innovate and deliver genuine value-added services to stay in the loop.
Business owners and cash
Legal businesses want electronic payments. No two ways about it.
APIs and app stores and the future of banking
APIs will certainly revolutionise the services the banks provide, but they will also revolutionise the way banks work.
