Thursday 2nd February @ 10:44am

The Lafferty News team has just returned to base following a sensational Lafferty Councils event in Cape Town last week, where we confirmed that there is indeed something special about South African banking . Regular followers of this publication will know that the country's banks have stood out in Lafferty Bank Quality Ratings, with Capitec and Barclays Africa at one point taking first and second place. So what's behind the allegations by supporters of President Zuma that banks are...MORE

Friday 13th January @ 2:29pm

Growing acceptance of cards globally is leading to increased competition among private equity groups for a share of the lucrative payments processing industry. In the latest move, private equity businesses Advent International and Bain Private Equity have announced a deal to acquire Germany-based payments processor Concardis. According to Marcus Mosen, CEO of Concardis, with "Advent International and Bain Capital Private Equity, Concardis...MORE

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Thursday 12th January @ 2:01pm

The payments industry needs to keep a close eye on Amazon as the firm continues to build revenue, rearranging industries at will as it powers towards dominance. Say what you like about Amazon, but one cannot accuse them of not being innovative. Now it is moving into the bricks-and-mortar grocery business, with an audacious plan to drop the actual checkout. Shops without checkouts: of all the strange stories in 2016, this one turns out not to be fake. In a breathtaking...MORE

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Thursday 12th January @ 12:32pm

Global credit card profits continue to climb according to Lafferty profit pool data, reaching an estimated $141 billion in 2016, up from just $35 billion in 2010. While this performance is partly explained by an unwinding of the effects of the global financial crisis, the growth has been sustained, albeit at lower levels, in recent years. There have been two key drivers of this growth; firstly, there has been a dramatic fall in loss rates on credit cards. In 2010, eight...MORE

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Wednesday 11th January @ 2:22pm

Credit cards are the darling of the banking industry, and Western Europe in turn is one of the most profitable regions, second only to North America. And banks are relying on this profitable sector even more, as profits continue to remain subdued in other areas. Overall profits across the major European banks in the first quarter of 2016 were disappointing, mainly because of volatile conditions in the financial markets and concerns about slowing growth in China. With banking...MORE

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Wednesday 11th January @ 2:16pm

The world's great automobile manufacturers are becoming greatly dependent on the world's great (or at least large) technology companies. The payments business is sitting at the intersection where those industries meet. Several recent developments suggest that this intersection is going to be a crowded place, especially when machines (cars) start paying for services automatically. Back in the 1980s, David Hasselhof — aka Knight Rider — gained fame acting as the driver...MORE

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Thursday 15th December @ 3:33pm

November 9, 2016 will forever be enshrined as the seminal moment in the history of India's payment Industry. It was on this day that the prime minister declared that 500 and 1000 rupee notes were to be removed as legal tender. It gave rise to a new term 'demonetisation' that continues to haunt the lives of those who live in the country. Before the second Wednesday of last month, India's move to digital/electronic payments was a slow trot — plastic cards accepted at 1.3 million...MORE

Tuesday 22nd November @ 11:49am

Kuwait is predominantly a cash-orientated society with coins and banknotes being used for the majority of low-value purchases. The payment cards market is developing significantly, with the number of payment cards in circulation (debit and credit card) reaching 4.2 million at the end of 2015, a 44 percent increase when compared to 2009. Kuwait's payments market is going through some major changes, including improvements in the card acceptance infrastructure, as consumers slowly move towards...MORE

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Tuesday 22nd November @ 11:17am

From the archives of Retail Banker International: Michael Lafferty's 1983 interview with Dee Hock of Visa International. IMG(206482,O,L,1...MORE

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Thursday 17th November @ 5:38pm

It's not too long ago that only major businesses would think of ordering goods and services from China. The genius of Jack Ma's Alibaba was to first bring the Chinese supply network into the orbit of small businesses, and from then into the reach of individual shoppers from the West and the rest. It's a mark of how far we've come that online shoppers are now as comfortable ordering online from China as they are ordering online from the US. That's among the big findings in...MORE

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Wednesday 16th November @ 4:00pm

Dubai occupies a unique place in the world economy, a microcosm of a broader global battle between bricks-and-mortar retailers and e-commerce retailers. Today, Bloomberg reports that global giant Amazon is about to buy a Dubai souk. But it's not just any souk — it's souk.com, the blockbuster e-commerce site owned in part by South...MORE

Wednesday 2nd November @ 10:16am

Introduced but three short days ago, Zcash may now be the hottest thing in cryptocurrency circles but captures additional interest for two reasons. 1: unlike its much-storied precursor, bitcoin, it was created by identifiable people in an identifiable place, Johns Hopkins University; 2: Zcash has a remarkable quality for a transactional digital entity: untraceability. Coindesk, with appropriate...MORE

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