While traveling to Copenhagen yesterday I was presented by the POS-terminals the option to pay my taxis and restaurant bill at the airport in the locale Danish Krona or in [...]
Reading up on the latest developments in PAAS I experienced a very strong deja-vu feeling: the banks are not in a position, nor do they want to be apparently, to create a common interoperable standard together while true interoperability is critical to the success of PAAS. I have seen this happening all before with SEPA CSM interoperability (see Half-baked CSM interoperability, SEPA: a Missed Opportunity for True Payments Standardisation). Will history repeat it self again?
As (value chain) models are simplistic representations of reality chances are not enough understanding is passed on. But misconceptions can be pretty harmful. Example: 4 corner model: banks created blind spot for changes in the value chains of their customers.
Walking to the office this morning it struck me that the evolution of (physical) currency in relation to payments could show us the long term development of digital money as well: step by step the currency has been developing until at a certain moment in time the transaction will be done directly between the payer and the payee.
Looking at a wallet based payment chain (P2P) the central pivot point is the wallet itself. The wallet needs to have the values available either in the wallet or immediately on call by a service provider. Euro’s – or any other currency for that matter – could be provided by a gateway provided per bank based on the PAAS conception.
(2 minutes reading time) Since having spend some early years of my professional life in a technical wholesale company I have been following the incredible developments of Amazon with great [...]
(3 minutes reading time) When electronic wallets are discussed between people within the payments industry there always seems to be one big white elephant in the room: Apple. Intuitively many [...]
The traditional point-of-sale (POS) payments terminal resides physically at the counter-top of the merchant. The terminal it self is a dedicated device where the hardware and software are bundled together [...]
One of the cornerstones of my speech at the conference on the Future of Payments in June 2012 (Amsterdam), which I delivered on behalf of Enigma Consulting, was that the [...]