Tokens and the Trojan Horse

Posted on by
2

I can’t believe I’ve been writing about this stuff for almost 10 yrs. If any of you have suffered through my 20 blogs (on tokens) I certainly don’t want to rehash anything.. just bring everyone up to speed on what I see as major issues on the horizon for V/MA, Issuers and Merchants.trojan-horse-small

Headline: Visa and Mastercard have made it easy for millions of businesses and billions of consumers to work together consistently. V/MA are a thing of beauty, creating incentives for multiple parties to invest in payments (and grow network).

You need to be logged in to view the rest of the content. Please . Not a Member? Join Us

Banks as a Data Business – Example Amex Advance/Acxiom

Posted on by
4

Traditionally the core of bank margin is in risk management. The core of risk management is data.. thus Banks have been the among the best data businesses (as IBM knows). Banks “learn” about their customers through bank interaction: payroll, card transactions, lending. This has helped banks make better risk decisions (both credit and fraud/identity). Within the bank data cycle the traditional use of data is for an internal benefit: risk and cross sale of the bank’s products and services (not that of consumers or merchants).  However the “virtuous cycle of banking data” is very different from that enjoyed by Amazon and Google, both in the scale and type of data and consumer facing use. 

You need to be logged in to view the rest of the content. Please . Not a Member? Join Us

Equifax, Facebook and Dangers of Centralization [of Data]

Posted on by
Reply

Equifax. It’s hard to sit on sit my hands and not write on this one. My perspective is shaped through running 2 of the largest online banks in the world, developing state of the art fraud prevention systems with the top 20 banks, working with Google and today creating Commerce Signals.

Enron has new competition for the company name that denotes loss and fraud. Equifax may be the single largest breach of consumer information in history…. It is everything from social to DOBs, DL #s, …. How did Equifax get our data?

You need to be logged in to view the rest of the content. Please . Not a Member? Join Us

Amazon 2% + PayPal Discover

Posted on by
Reply

Two HUGE payment events this week

Amazon 2%

Per Bloomberg, consumers that don’t want to go for the 5% back Amazon store card (SYF) can now link their DDA and earn 2% back.  This may be the biggest payment innovation of the year! 

You need to be logged in to view the rest of the content. Please . Not a Member? Join Us

Payments Data and Google Attribution

Posted on by
1

Great articles yesterday

This year, the iab (interactive advertising bureau) labeled 2017 as the Year of Measurement. Understanding why, and what is changing here is key for retail, banking and advertising. Most of us know the adage “measure what you want to manage”. As an engineer, I view measurement as the key feedback loop in any system or process. In order to gain feedback (close the loop), you must know what happened.

You need to be logged in to view the rest of the content. Please . Not a Member? Join Us