I present to you the following scenario. Day 1: Single IOU Let’s say you walk into your bank in America and present $ 100,000 to the bank, and ask them to make a Cashier’s Cheque for you. No problem they…
In 2012, I answered a question on Quora, How will money transferring between countries look in five years? I did not edit or touch the answer in any manner for five years. Well, now that the 5 years are up and…
I never knew about Alfred Escher and learned about him quite by accident. I happened to be reading a great post about how the Knights Templar invented modern banking on Chris Skinner’s blog when I discovered an article about Alfred…
Understanding the Behavioral Aspect of Mobile Wallet Commerce — What years of research tells us. There should be no doubt that as a society, today, we are more dependent on our mobile phones than ever before. Our smartphone represents the…
ACH (or Automated Clearing House) is the quintessential payment method in America that can do a debit/credit directly into your bank account electronically. The system itself is extremely outdated and hence the race for a new faster payments system in US, although…
The bitter truth is simple: There aren’t any mobile payments in Pakistan. Period. I had to think long and hard on this one, just to be double-sure, and the answer is still just that. None. Call me a pompous ass,…
Determining the price for a product or a service is the penultimate question. The money-transfer industry is no different. At present, the remittance industry has more or less the following models for pricing: The combination of the above-mentioned three models…
Why there is a need to develop a new method of addressing the KYC problem. A Tangential Stroll Ask anyone who has ever owned a mobile phone (or two) and an email address (or two) and they will tell you,…
Sometimes you just can’t get enough of Donald Trump. No matter where you go, Trump it is! In your email, on your Facebook, on LinkedIn, especially by people who confuse LinkedIn with Facebook, on Twitter, on Instagram, on your daily news feeds,…
Pre-Tipping Era The Internet has changed us in ways we cannot fathom. Most people take all the information we find on the internet for granted. Ask me, I see examples of this all around us. When I tell friends/family to…
Remittances this year (2015) are poised to grow even more. By various estimates this year’s official count would most likely breach the US$ 600 Billion marker. The competition in the remittance value-space is increasing while the players are decreasing. Banks…
For those of you who remember Tom Selleck (of Magnum, P.I.) will remember the beautiful ads of the future that were done by AT&T in Tom Selleck’s voice. The ads essentially touched upon technologies of the future and how AT&T will bring such…