Ketharaman Swaminathan Founder and CEO at GTM360 Marketing Solutions
In other words, is the US "Closed Loop" payments system making Americans less creditworthy? For several years, American travelers have been having a tough time trying to use their magstripe credit cards in the EMV Europe. In India, many ecommerce and bill payment websites have recently started refusing American credit cards (click here fo...
06 October 2013 /payments
In a world that's awash with exuberant projections of mobile payment spends in 2022 from products that are not yet launched in 2013 - no, I’m not just looking at you, ISIS - GigaOm introduced a sense of reality by providing some actual figures. Quoting Berg Insight in this article, GigaOm reported a total mobile payment spend of US$ 500M in the US...
30 September 2013
In Mobile Wallets Should Fix What's Broken - And It Ain't Payments, we saw why consumers were more likely to try out mobile wallets for store loyalty cards than debit or credit cards. In this post, we’ll go beyond initial adoption and see where these two mobile wallet use cases - “mobile loyalty” and “mobile payment” respectively - stand with resp...
16 September 2013
My leather wallet wore out recently. With so much buzz around mobile wallets, I was wondering if I should even bother with another leather wallet. Before switching to a mobile wallet, I inventoried the contents of my wallet and arranged them into the following two piles: LHS: This pile contained payment related items such as cash, two credit cards ...
09 September 2013
The fragmented state of the banking industry and, arguably, the relatively conservative policies of the Indian banking regulator Reserve Bank of India, have kept the assets of Indian banks somewhat subdued compared to their global peers. Not surprisingly, league tables that use asset as the benchmark to rank banks have always been bereft of an ent...
22 July 2013 /retail /wholesale
The proverbial ink has hardly dried on my blog post titled Mobile OTP: Cyanide Or Caffeine For Online Payments? than I saw the following 'kiss-of-death' screen on my laptop <Finextra readers to please scroll to the bottom of the page>: This happened on the very first occasion that I'd tried to pay my broadband bill online after the new secu...
14 June 2013 /payments
I recently received an SMS from one of my credit card issuing banks - the Indian subsidiary of a British high street bank that has a global presence - informing me about the following change in procedure for using its credit cards online: "With immediate effect, for each online transaction on your BANK1 Credit Card, an OTP (One Time Password) ...
03 June 2013
What data breach? Are you talking about the one that happened at Heartland in 2009? Or, maybe the Fidelity one from 2011? Again, no? Oh, you're referring to the latest one that led to the arrests in New York of several people who fraudulently withdrew $45M from several ATMs. By now, it should be obvious what's different about the latest breach. If...
20 May 2013 /security
Running From Pillar To Post To Link Aadhaar Card To Bank Account On my last few visits to the Internet Banking portal of this bank - a Top 3 private sector bank in India - I'd been seeing the banner shown below - no, bottom of this page - requesting customers to link their Aadhaar Number to their bank account at the earliest. (For the uninitiated,...
14 May 2013 /payments
Five Ways to Stimulate Electronic Payments (Hint: Discouraging Cheques Is Not One Of Them) The number of times the words "should" and "charge" appear in this article titled "RBI WANTS TO DISCOURAGE USE OF CHEQUES" got me wondering if "negative reinforcement" is seen as the only way to wean people away from ...
19 March 2013 /payments
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