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Sparkasse merges Girocard with Mastercard Debit
Our analysis: What does this step mean for the card business, customers and last but not least xPay/DK & Paydirekt? It became known that the Sparkassen financial syndicate is merging the well-known Girocard with Mastercard Debit. Mastercard Debit is obviously intended to replace the previous Maestro logo for international use. We here at Payment &…
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Cashless payment transactions put to the test in Germany and Europe
An article by Marcus W. Mosen The banks in Europe and Germany are certainly not bored at the moment. And with the corona virus, a new challenge is now being added: many projects that until recently were considered of the highest strategic importance could now lose importance thanks to corona. Just a few weeks ago,…
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Financial regulators are watching crypto custodians
Since January 1, companies that hold Bitcoin & Co. are considered financial service providers and must apply for a license. Bitkom sees this as an opportunity for the breakthrough of digital assets and has therefore published an information paper for “Regulatory requirements for crypto custodians”. Since January 1st, anyone who holds crypto currencies such as…
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Issuing as a new component of acquiring in payment
With SUMUP, another payment acceptance provider is entering the business of issuing cards. What does this mean? Following the merger of network operations/payment service providers and acquiring in recent years, we are currently seeing more and more indications of a further, completely new fusion of value creation in payment. Issuing, i.e. the issuing of cards,…
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The Trend is your Friend
One of the last editions of the Handelsblatt was about the success of the direct banks in comparison to the affiliated banks and that the first one mentioned are turning more and more into so-called house banks or first banks. https://www.handelsblatt.com/finanzen/banken-versicherungen/finanzinstitute-deutsche-onlinebanken-wachsen-rasant-2020-soll-der-durchbruch-gelingen/25294504.html This increasing trend of direct banks becoming house banks has take, all in all,…
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The 7 biggest customer problems in Banking, Fintech & Insurtech
A couple of weeks ago André M. Bajorat asked here the question what Open Banking is. This was my answer: “Ideally for me Open Banking is a central place, where you can handle all financial affairs. So almost like a virtual shopping center, where the customers can choose the financial service, which is suitable for…
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From energy to AI: The future industrial sectors with growth potential
Last spring the economic news paper Financial times published their annual listing “1000 Europe´s Fastest Growing Companies”. When taking a closer look at the 2019-ranking, the fastest growing companies enable to see the future industrial sectors, which stand for success and innovation – and especially provide great opportunities for start-ups and the founder scene. Which…
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Children without power – why do we forget this important target group when it comes to finances?
Children are the future. Children are the future. A sentence that is sure to meet with broad approval and from which one could deduce that it is the task of society to prepare children for the future and to adapt them to it. What about this mission in the financial environment? The thesis that this…
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Yomo – of course, it´s too easy…
Kind of surprising and yet not. The end of Yomo. One of the very early and probably also most ambitious and courageous projects of the Sparkassen as a response to so-called neo-banks is ended the planned way. https://www.handelsblatt.com/finanzen/banken-versicherungen/banken-sparkassen-wollen-kein-reines-smartphone-konto-mehr-anbieten/25491450.html Actually, the Sparkassen were still early with spring of 2017. Probably still started early enough as a…
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Faulty processes during check out are also at the expense of the credit card providers
The online shopping cart is full and yet the purchase does not take place at the end of a long process. Trade loses a lot of money every year by the abruption of the check-out process. But what is the reason why the customer does not buy anything in the end? The fact that they…
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A “clear conscience” DAX for more sustainability at Deutsche Börse
Last week Deutsche Börse launched the Dax 50 ESG. It is intended to accelerate the transformation process towards a sustainable financial industry. Demand for sustainable investments is also increasing. Criticism comes from environmentalists. Thanks to the activist Greta Thunberg, due to the problems of rising sea levels, a winter that was no longer a winter,…
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Tomorrow brings new current account
Tomorrow offsets its CO2 footprint with new “Zero” current account A few days ago, the mobile banking provider Tomorrow introduced the first current account that offsets the CO2 footprint of users* and thus breaks new ground in climate protection. This is a novelty in the field of sustainable banks and current accounts. They call it…
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Duty to pay: Like BON-apartes Waterloo
Since January 1, 2020, the receipt requirement has been in force in Germany, and retailers and restaurateurs must issue a receipt for every transaction. This leads to whining on a high level, because the obligation to issue receipts came as surprisingly as the implementation of the PSD2 directive or Christmas because it was already known…
