Business Press Waking Up to Bank Legacy IT Risk
Reuters discusses the challenge of moving off legacy systems. While the piece is a long overdue, it still seems more than a tad optimistic.
Read more...Category Archives: Payment system
India’s “Bold Experiment With Cash”: Debunking Myths
India radical demonetization policy: Is this a decisive action against the black economy or an ill-considered, damagingly arbitrary act?
Read more...Why Central Bankers Should Not Be Trusted With Money: Greek Exit Edition
An upcoming Greek bailout is leading to new discussion of the idea of a Grexit. And as before, some well-meaning ideas are wildly impractical.
Read more...Demonetisation: India’s Stress Test
Did India’s sudden removal of 86% of hard currency from circulation achieve its aim of fighting corruption? And how much did it hurt growth?
Read more...Things Just Got Serious in Europe’s War on Cash
Latest salvo on cash: European Commission explores setting a maximum limit on cash transactions, to apply cross-regionally from 2018.
Read more...Don Quijones: Power & Profit Fuel War on Cash in Europe
Be warned: European officials have already starting taking tough moves in the war on cash.
Read more...The Global War on Cash – India’s Demonetization Debacle
India’s demonetization debacle has destroyed growth in what was the world’s fastest growing economy while failing to ferret out black money.
Read more...The Global War on Cash – Lessons from History
Introduction Regular readers will be fully up to speed on the Reserve Bank of India’s botched attempt at a handbrake turn style demonetisation thanks to Jerri-Lynn Scofield’s thorough coverage (see here, here and here for more background on this sorry tale). But the Indian government’s attempt at implementing a strategy of moving an economy away from physical cash […]
Read more...Yes, We’re Sorry About the PayPal
Why Naked Capitalism is, through gritted teeth, left with no realistic alternative than to take donations through the dreadful PayPal
Read more...Liberty Reserve, Bitcoin, and the US Bank Regulatory Dog That Didn’t Bark
How a toothless US watchdog, FinCEN, has largely ignored money laundering via Bitcoin and other digital currencies.
Read more...Instant Payment Services – Payer Beware
How the New York Times does its readers a huge disservice by not telling them that so-called “instant payment services” are anything but that.
Read more...Financialization and its Discontents
Untangling the credit versus money focus in the critiques of financialization.
Read more...Global Money: A Work in Progress
Bagehot outlined some of the requirements for global money. Are we closer to a solution?
Read more...Should Banks Be Worried About Apple Pay?
Will Apple Pay eat retail payment systems?
Read more...Cyber Security and the Financial System – What Do Governments Want from the Banks?
Governments are combining aggressive, ambitious talk with a curious helplessness in warning banks they really should be Doing Something about terrorist risk.
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