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Presentment is a crucial component of the payment process. In the UK, the Bills of Exchange Act of 1882 explains the role of presentment of a promissory note for payment in the following way: “(1)Where a promissory note is in the body of it made payable at a particular place, it must be presented for payment at that place in order to render the maker liable. In any other case, presentment for paym…

Banks know technology is often the key to providing their customers and clients with a seamless and secure commercial experience. However, like any established anti-fraud solution, chip-and-PIN technology stacks its fair share of benefits and drawbacks. Nearly twenty years on, has Chip-and-PIN lived up to its hype? Is there an alternative? This article will reexamine chip-and-PIN technology: how i…

It should come as no surprise to anyone in finance when traditional lending corporations take issue with emerging competitors. However, the level of vitriolic commentary that often results from such criticism might be surprising. In the debate between traditional lending and emergent “buy now, pay later” (or “BNPL”) providers, the back and forth brings up several pros and cons for both sectors tha…

By design, most credit card fraud occurs at the merchant level. Merchants are often the conduit between consumers and banks, and as such, are a prize target for cybercriminals of every stripe. Thankfully, fraud filters are highly effective at identifying and rejecting fraudulent transactions. But, are they enough? This article will discuss common fraud filters and how they work, as well as describ…