 
Banks must innovate says SapientNitro
‘Banking on the Future’ White Paper identifies how technology is forcing retail banks to evolve while empowering consumers; takes a look at how mass adoption of mobile, mobile payments and person-to-person payments (P2P) will shape banking in the near future. |
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Mobile payment systems could leave consumers at risk
Consumers union calls on regulators to require mobile payment providers to abide by strong consumer protections. Federal law protects consumers in the event that their credit card or debit card is lost, stolen or misused. But, it warns, current protections are badly fragmented and don't apply to all new types of payments. |
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Number of payday loan users has quadrupled
Consumer Focus research reveals that payday loan borrowers are taking out an average of 3.5 loans a year. Charges typically range from £13-£18 ($28) interest for every £100 ($155) borrowed, but can be as high as £30 per £100 for some online providers. This can generate APRs in the region of 1000 per cent to 2000 per cent given the short-term nature of these loans. |
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