Payments Blog

The Future of Fintech

Payments Blog • 4 MIN READ

Bitcoin - a number guessing game

As a keen observer of the cryptocurrency craze that's happened in 2017 and will likely continue in the foreseeable future, it is important to have some understanding of the internal workings of Bitcoin before considering putting your money into it. Have you ever wondered how bitcoins are created and what the rules are for doing so? Here is an...

Payments Blog • 3 MIN READ

Top 10 Payment System Alerts Financial Institutions should..

The typical financial institution has evolved over the years by adding pieces of technology as demands arise, leading to a house of cards. Making changes would likely be hazardous because you simply have no idea what could potentially break as a result. Perhaps you've recently joined a team and have been given the eventful task of maintaining or enhancing an organization that you know very little about. By focusing on these key health indicators...

Payments Blog • 14 MIN READ

The Blockchain More than Just a Ledger

The Blockchain is an innovation gaining wide spread attention in the payments & fintech world. It's often explained as being a distributed ledger, which is the "true innovation of bitcoin". This is a half-truth, by itself the 'chain of blocks' does not give rise to any benefits of a blockchain system, such as 'immutability'.

Payments Blog • 13 MIN READ

Apple Pay: 2.5 Years On - What's Changed?

As Apple Pay reaches its two and half year birthday, it's time for us to take a look at how well it's faring with both users and the payments industry as a whole. When it made its U.S. launch in October 2014, it reached a level of success that garnered widespread attention. You can't argue with the numbers: 2 million locations, 1,000 banks, and 5 million registered users. Perhaps it hasn't been quite as successful in all different regions like...

Payments Blog • 3 MIN READ

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Is SEPA's Initiative for Instant Payments a Disruptive..

The Single Euro Payments Area has historically been a method of transferring payments between countries that use the Euro. Now it's attempting to evolve with a new initiative called 'instant payments'. As the name implies, it's a way of transferring funds almost immediately. For example, let's say that I wanted to send you some money. After initiating a transaction, the funds would appear in your account within a matter of seconds. This kind of...

Payments Blog • 3 MIN READ

Are Person-to-Person Payments on the Verge of Taking Off?

Right now, we make an average of 54 person-to-person payments every year. If you consider the number of times you go to buy a cup of coffee in the morning or make a trip to the grocery store, 54 payments doesn't seem like much. Why do we make so few person-to-person payments? If you think about how inconvenient a person-to-person payment is compared to just walking into a store and swiping your card, it quickly becomes evident why there's such a...

Payments Blog • 4 MIN READ

Monitoring Payments in High Volume Environments

Scale is probably the biggest challenge that banks face when monitoring payments in a high volume environment. The typical bank has a large number of payment applications. Payments can come from ATM transactions, store purchases, or direct deposits for payroll. When an employer generates payroll, a batch file of transactions comes through to be paid into several accounts. As they flow through the system, they might have to go through multiple...

Payments Blog • 3 MIN READ

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