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It was only a few years ago that banks owned the financial sector – the only way to pay, transfer and save money was via a traditional bank. The supremacy of the banks was maintained principally due to the fact the industry was highly regulated and therefore an exclusive club of licence holders.  As such, [...]

The post The changing payments landscape appeared first on Payments Cards & Mobile.

Banks across the world are set to significantly increase spending on new payment technology in 2016, according to a new report from Ovum, the independent technology firm. Driven by increased emphasis on security, changing consumer behaviour, and new technologies – such as Blockchain, mobile payments, and real-time payment transactions, almost two in three (61%) banks [...]

The post Banks increase spending on payment technology appeared first on Payments Cards & Mobile.

Historically, banks have dominated the entire market, but times are changing and the FinTech invaders are beginning to disrupt the space. Banks certainly have their place, but their share is undoubtedly being challenged. It may seem odd for the man who has pioneered a non-bank community-based payment model to admit, but I strongly believe that [...]

The post A world without banks as we know them? appeared first on Payments Cards & Mobile.