On one of the busiest days shopping days of the year, Cyber Monday, 24 million RBS Group customers across the U.K. got schooled in the pitfalls of plastic. At 6:45 p.m., RBS computer systems crashed — for three hours. Cards fail; cash prevails
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South Africa’s economic growth is expected to slow through the rest of 2013 after a strong second-quarter performance, according to a Reuters news agency poll of economists who blamed widespread industrial strife for the slowdown. http://www.bdlive.co.za/economy/2013/09/12/industrial-action-behind-slower-sa-growth-forecast
There is a definite imbalance in the advertising war on cash. We have seen the credit card companies, debit card providers, e-payment companies and even fringe payment options … For life’s simple pleasures, cash
There are over 1.5 million ATMs installed worldwide, with a new ATM being installed approximately every 5 minutes, according to estimates by Retail Banking Research Ltd. Frequently asked questions
Fickle investors have spurned emerging markets in recent weeks, but this route has obscured a more alluring vista out on the horizon. Focus on emerging markets
A prominent hacker who discovered a way to have ATMs spit out cash and was set to deliver a talk about hacking pacemakers and other wireless implantable medical devices has died in San Francisco, authorities and his employer said. Barnaby Jack dies
Angola’s ATM network is poised for growth, with expectations that, within months, it will grow from the current average of 700,000 ATM transactions per day to 1 million. Angola’s ATM network tiny but growing
July is National Savings Month in South Africa, which is an initiative aimed at encouraging saving and financial literacy amongst consumers. http://business.iafrica.com/personal-finance/871692.html
While the US, and many other nations around the world, struggle to find justification for EMV cards and the use of Chip and PIN devices, Europe is steaming ahead beyond the realms of the standard PIN and into facial recognition. Just face it, your face could be your next pin
An estimated $8bn of cash deposits are made every year by 13-million adults who are unbanked in SA. This despite the perception that banks are serving the whole population, said Standard Bank mobile and internet banking head Gustav Vermaas. Unbanked market needs attention
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