Credit cards have evolved from magnetic strips to chip-and-pin, chip-and-choice, and chip-and-signature cards. EMV is now the de facto global standard for the chip technology embedded in financial payment cards. In the fourth quarter of 2012, there were 1.62 billion chip cards in use across 80 countries.

But has EMV really been successful in bringing down incidents of fraud? This paper explores these facets by examining the EMV standards, rate of CNP fraud post EMV implementation and the impact.

Pakistan-based AlHuda CIBE has conferred the “Best Technology Solutions Provider to IMF 2016” award to Path Solutions for promoting global financial inclusion and demonstrating exemplary social responsibility towards a sustainable financial system.

The award was granted to Path Solutions after a rigorous evaluation of a record number of nominations by an internal research team and an award committee at AlHuda CIBE. 

The government has ambitious targets in place for implementing its MTD strategy and getting people to start reporting their tax digitally, but I believe there needs to be more flexibility when it comes to smaller businesses. The average freelancer or micro-business owner doesn’t have the resources that a larger SME has to get themselves prepared for the switchover, and many will struggle to upgrade their processes in such a short timeframe.

Vela Trading Technologies, a global leader in high performance trading and market data technology, today announced the appointment of two additions to the senior management team, Brian Cassin and Ollie Cadman. Providing leadership across North America, EMEA and APAC, Brian and Ollie will serve as joint heads of product and strategy.  

Requirements that banks and financial institutions comply with Know Your Customer (KYC) requirements is a global challenge. Blockchain holds potential to help address this need to prove the identity of a person or organization, source of funds, business interests, history and also monitor for changes. During the Singapore FinTech Festival, IBM announced a blockchain project with Singapore fintech startup KYCK! to help enable financial services providers to more rapidly on-board their customers in a secure environment.

Fortress Investment Group LLC (NYSE:FIG, “Fortress”) today announced that certain Fortress managed funds and accounts (“Fortress Credit Funds”) have acquired a limited partner interest in Red Rocks Energy Partners L.P. to own and develop oil and gas assets in over 7,200 acres in the SCOOP play in Grady, McClain, and Garvin Counties, Oklahoma.

Overstock.com, Inc. CEO Patrick M. Byrne will present the blockchain-based asset trading platform developed by the company’s financial technology subsidiary, t0.com, Inc. The software demo will take place at the prestigious Global FinTech Hackcelerator, organized by the Monetary Authority of Singapore. t0 is one of just 19 firms, selected from a competitive pool of 655 applicants worldwide, to participate in the competition.

The presentation will take place at the Red Dot Design Museum on Nov. 15 between 9:30 a.m. and 10:00 a.m. Singapore time (UTC +8).

I guess in concluding this weeks’ thoughts, I’m left reflecting on a similar idea to the one I blogged a couple of weeks ago about a world turned on its head.  This time it’s a different take on the same conundrum.  We live in the developed economies complaining about legacy; developing economies are just excited abou

Gulf Capital, one of the largest and most active alternative investment firms in the Middle East, announced today that it has acquired a controlling stake in Sporter.com, the leading online retailer of sports and nutrition supplements in the GCC, operating in a rapidly growing sector of the digital economy. Sporter.com’soperations are located in state- of-the-art facilities across multiple countries, which allows the company to provide a convenient, timely and price-effective service to customers in the Arab region.