POST Banks can use open banking too, you know

The Deutsche Bank report is not all doom and gloom though. It goes on to make the point that banks can themselves

Of course, the beneficiaries will be the new financial service providers such as FinTechs or other software suppliers, who can now seamlessly attach their innovative services to the existing (banking) infrastructure. For BigTechs and retailers with a large customer base, the free-of-charge technical interfaces also open up new opportunities with respect to payment services, retail financing or other tailored products. But – somewhat surprisingly, perhaps – individual banks can also benefit. They, too, can act as third-party providers vis-à-vis other account servicing banks and offer an array of new or extended services to their customers, which will intensify competition among all providers.

Comments

Websec Canada: Launching replay attacks against the Wells Fargo Wallet service

xxx This white paper is a shortened version of the actual research. Unfortunately, the exploitation bug is not fixed yet. The company was notified and informed about the issue. However, the bug is not fixable (at the moment). From Websec Canada: Launching replay attacks against the Wells Fargo Wallet service . xxx

There is no excuse for not taking cards

So we went to the pub. For lunch. Seven of us. Say £20 per head. £100+ quid. Say £50 quid gross for the pub. Colleague goes to order food and drinks and pay at the bar. Apologetic barmaid comes over to explain that their “card machine” is down, so she can only accept cash. Under normal circumstances I would have simply walked out, feeling it wholly inappropriate to reward such a poorly managed establishment and, as a functioning actor in a capitalist economy, done my duty to depress their lunchtime takings. Here’s what we wanted to say: This is absurd. This is 2016 not 1916. Your card machine is down? Well, so what! Are you seriously telling me that mein host has no mobile phone number capable of registering for PingIt or PayM? That none of the staff or the pub itself have a PayPal account that I can send the money to? That neither the owners nor managers not contingency planners thought to tuck an iZettle behind the bar to use when the clunky and expensive GPRS terminal fails for o...

Snippets

Search This Blog