Facebook’s cryptocurrency Libra has the potential to increase currency and payment-system competition globally. Not surprisingly it’s provoked a firestorm of concern and protest from regulators, politicians, and a medley of activists. Addressing the House Financial Services Committee July 10th Fed Chairman Jerome Powell declared Libra potentially a “systemic risk” raising “serious concerns regarding privacy, money […]
March 19, 2019 the EU mandated enhanced disclosure requirements on currency-conversion fees for banks, merchants and ATMs. The landmark pro-consumer reform will take effect in April, 2020 and should reduce the number of consumers fleeced by Dynamic Currency Conversion (DCC). Competition and inadequate disclosure requirements have fueled an explosion of DCC, a service permitting cardholders […]
If Apple’s mobile wallet Apple Pay is successful banks will be the big losers.pdf Discusses Apple Pay’s prospects and impact on players across the payments value chain and contends to the extent Apple Pay is successful it will capture additional economics from bank issuers and diminish their payments customer relationships.