Innovation in payments may seem like a new thing that has been facilitated by the emergence of new technologies, but there is a long established history of businesses finding new ways to encourage customers to spend with them. The first merchant specific credit vouchers began to emerge in the 1800s, by the 1950s charge…
So a man walks into a shop and says to the shopkeeper “I’d like to buy that electric drill in your window and pay with my MasterCard”. “Certainly Sir”, the shopkeeper replies and starts to pack the goods. “Actually”, the customer says, “I’ve changed my mind, I think I’ll pay in cash”. “Oh, I’m so…
The other day I came across this interesting article about cloning EMV cards it makes a number of pretty bold claims including the following: I differentiated pages instead using the EMV Unpredictable Number field – a 32 bit field that’s supposed to be unique to each transaction. I soon got muddled up… it turned out…
New products, new channels, massive technological change and all bundled up into two major releases each year by the card schemes, well, as it says in each closing episode of Frasier – ‘What is a boy to do’ Put simply, the ambition to keep interchange fee structures as simple as possible is under constant challenge…