Financial Regulators

Demonetization Roulette: India’s unusual approach to creating a cashless economy

By Shiv Vadivelalagan on March 28 2017

On November 8, 2016, India cancelled 86% of its currency in circulation with a four-hour notice and the move pushed India into a severe currency shortage. In a country where 98% of all consumer payments are in cash, this prolonged currency shortage carries risks: economic destabilization in the short term and irrevocable damages to the […]

Apple

Payments 2017 – One Month In

By George Peabody on January 31 2017

Business evolution—whether it’s automotive, bioscience, or in the payments industry—proceeds along a predictable path of incremental improvements and optimization. Until it doesn’t and a step function takes effect. Last year was sleepy compared to what we can expect during the next eleven months. 2016 was characterized by the more familiar path, through themes set in […]

Bitcoin

What Blocks the Blockchain

By George Peabody on April 14 2016

Given the high rate of press releases and articles on fintech applications of blockchain technology – and the growing number of financial institutions expressing interest in its potential – I’ve been considering this high signal to noise ratio. A few thoughts: Hype cycle inflection point We are, hopefully, cresting the top of the blockchain hype […]

Bitcoin

Regulation, the Blockchain and Programmable Money

By George Peabody on December 8 2014

One of the truly interesting presentations at this year’s Money2020 was the speech by Ben Lawsky, superintendent of New York’s Department of Financial Services. Lawsky’s remarks focused on his department’s BitLicense proposal and demonstrated the struggle Lawsky and his team face as they create regulation for Bitcoin and math-based currencies (MBCs) in general. Released in […]

Banking Industry

Payments Regulation in the United States is Hampering Innovation (Really?)

By broox on January 10 2014

A great friend of Glenbrook’s is Broox Peterson, formerly Senior Vice President and Assistant General Counsel at Visa International and currently in private practice. Earlier we posted his article So You Want to Start a Payments Company? which has helped many entrepreneurs and investors understand the considerations involved in payments-related businesses. In this new article, […]

Bitcoin

Bitcoin in 2014

By George Peabody on January 8 2014

Last year was, of course, the break out year for Bitcoin.  Incubating in geek-nurtured obscurity during its first few years, 2013 saw the international media, global investors, entrepreneurs, and even a few just plain citizens jump onto the math-based currency (fewer managed to actually purchase some bitcoin). The currency has since ballooned in value.  It […]

Carol Coye Benson

Faster, Better, Cheaper – Like it or Not

By Carol Coye Benson on March 13 2013

• in
• credit-push
• push payments

A new wave of payment capabilities is hitting shores around the world. This wave is made up of better, faster, and cheaper “credit-push” systems.  That means that transactions enter the payments systems from the sender’s bank (like a wire transfer) rather than from the recipient’s bank (like a card or check).  Credit-push payments have a […]

ACH

Bankers to NACHA: 1978 Is Modern Enough for Us!

By Carol Coye Benson on August 18 2012

The NACHA membership has reportedly turned down the concept of “Same Day ACH“. This was a request for comment, put out about a year ago by NACHA staff, to — get ready for this — not move the ACH to same day, but simply allow originating banks the option of submitting a same day batch […]

Banking Industry

So You Want to Start a Payments Company?

By broox on August 13 2012

A great friend of Glenbrook’s is Broox Peterson, formerly Senior Vice President and Assistant General Counsel at Visa International and currently in private practice. In 2006, Broox wrote a very popular article that we shared on PaymentsNews.com. He’s just updated that article to reflect some changes – and we’re delighted to be able to share […]

Cash Payments

Currency in a Digital Form

By guest on April 8 2012

Two related announcements out of Canada work to reduce currency in circulation. Last week the Canadian government announced the demise of the penny.  The cost to produce a penny has surpassed its value.  The coins in circulation will still be considered legal tender and hold their value, but the mint will cease production and in […]