Opinion

Will the Blockchain Replace Swift?

I made a provocative comment, as it turned out, during my keynote at a recent conference. The comment was picked up in a press article that reported I said "the coding behind virtual currency bitcoin could also prove to be enormously transformational, potentially even replacing the Swift network for interbank payments." more »

More in PAYTHINK

see all

Technology Is a Tonic for Late Business Payments

Innovations in payment and financing services are changing the way that organizations around the world conduct business. more »

New Banks Need Apps and NFC to Battle Incumbents

NFC mobile payments continue to grab headlines, but to really drive uptake and ensure full market coverage, combining contactless cards with next-gen mobile banking apps is surely the right way to go for new banks. more »

Merchants Ignore Durbin's Toll on Their Customers

Retailers who claim that restrictions on debit card fees benefit credit unions and community banks miss the point: These price controls are bad for consumers. more »

Contrary to What Small Banks Think, Durbin Can Help Them

In opposing restrictions on interchange fees, the financial services industry often claims that 2011 debit swipe-fee reforms are such a huge threat to revenue that even small banks and credit unions below $10 billion in assets, which are exempt from the Dodd-Frank Act rules, feel the pinch. more »

Looking to Boost E-Commerce Transactions? Make Returns Easier.

E-Commerce companies can't increase transactions by hiring more salespeople for their stores. But there is an excellent counterintuitive strategy: having an excellent return policy. more »

Apple/FBI Battle Exposes the Slow Pace of Regulation

The fight between Apple and the FBI over the security protections on the San Bernardino, Calif., iPhone is about more than a single iPhone or Apple’s product line. This is a reality check for the entire tech industry, which has largely remained unchecked. more »

Business Wallets Have the Model to Beat the "Pays"

The third party wallets, or the “pays” as they are called, are failing to make a splash. Mobile wallets which let you pay any merchant from your smartphone are simply not a reality today. more »

Banks Need to Get on the Token Train

The idea of banks becoming Token Service Providers (TSPs) is an increasingly relevant move. more »

Encryption Keys Require Better Transport Protocols

Encryption keys are vital to the secure operation of payment acceptance devices. But key transport protocols have not kept pace with the movement toward standardized encryption practices. This adds cost and complexity to payment infrastructure and processes. more »

Non-Bank Payments Aren't a Long-Term Answer for Legal Marijuana

Despite generating an estimated $4.5 billion in revenue last year, the legal marijuana industry has yet to solve one of its biggest issues—the lack of reliable payments, banking and other financial services. more »

Chase May Not ‘Win’ the Mobile Wallet War, But It’s Well Armed

In explaining JPMorgan Chase's commitment to the Chase Pay mobile wallet, Gordon Smith told investors in February that the mobile payment landscape was going to get more complicated before it gets simpler. more »