Category Archives: Whitepaper

Request to Pay

In a survey of UK payments users (World Class Payments Report, Payments UK, www.paymentsuk.org.uk), customers expressed the need for “more choice and control over the timing and method of their payments”. Payments UK identified four capabilities as priorities for giving customers more control, simpler access, better information and improved confidence in their payments. One of those priorities, and the focus…

social good

Harnessing technology for social good

Around the globe, technology is being harnessed for social good in many different ways. From addressing complex social issues to fighting hunger, technology can make a positive and sustainable change in people’s lives. In particular, the rapid spread of mobile technologies in developing countries is creating new opportunities to assist the unbanked to enter the financial system. At Bluechain we…

Cash

Going cashless: what are the barriers?

The race to cashlessness is being run around the globe, but at very different speeds. In the developed world, cash payments continue to decline. In some parts of Europe, shops, restaurants and bank branches even refuse to handle cash because of how little consumers use it. But in the developing world, cash payments commonly still account for over 90 percent…

Going cashless: what are the barriers?

What are the barriers to going cashless?

Much has been written about the advantages of the cashless society, but the barriers to going cashless are many and varied, and the importance of each can change with geography and demography. In the developing world, the issues of going cashless or cash-lite are largely about financial inclusion, i.e. access to banking services, access to technology, and cost, whereas in…

Building a national switch

The electronic payments business is characterized by batch processing, extended clearing cycles, rigid procedures, complex contractual arrangements, opaque fee structures, and rising fraud rates. Recognising these inefficiencies, central banks have continued to drive reforms, particularly in non-cash, low-value payment systems. And while these reforms are generally aimed at improving the speed, security and cost of non-cash payments, some reforms have…

Empowering financial inclusion through mobile technology

You might not be familiar with the term, but “financial inclusion” is an important issue in emerging and developing economies. And that’s because many governments have identified it as one of the key enablers for sustainable economic growth. When too much business activity is conducted informally, outside traditional financial systems, governments lack the controls they need to effectively manage their…

Empowering financial inclusion through mobile technology

Although the need for financial inclusion is well understood, the solution has proved elusive. Access to education, communications services, and financial and banking services can pose special challenges in the Third World. And the barriers to inclusivity in developing countries are often formidable, such as distance from a financial service provider, lack of necessary documentation papers, lack of trust in…

5 benefits of redefining domestic payment schemes

The global payments paradigm is changing. Worldwide, the dominant international card schemes battle against ever-increasing fraud, exposing their underwhelming response to the emergence of card-not present transactions. In the developing world, banks are looking to mobile technologies to capture payments by the unbanked and remove reliance on cash. And in the first world, disruptors are carving out pieces of the…

Redefining domestic payment schemes

The global payments paradigm is changing. Worldwide, the dominant international card schemes battle against ever-increasing fraud, exposing their underwhelming response to the emergence of card-not-present transactions. In the developing world, banks are looking to mobile technologies to capture payments by the unbanked and remove reliance on cash. And in the first world, disruptors are carving out pieces of the market…

Choosing a wireless technology for next-gen payments

As the IoT and connected devices become more prevalent, our smartphones are becoming increasingly connected to the world around us. Smart portable, mobile and wearable devices use a number of different wireless communications technologies, including Wi-Fi, NFC and Bluetooth. To be successful, a next generation payment technology needs to be widely adopted, scalable, interoperable, secure, wireless, low-power and low-cost. While…