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Category: BANKING MARKETING (Page 1 of 2)

Amazon & Visa Price War

Amazon & Visa Price War.

Amazon has announced today they will not be accepting Visa payments from Brits from 19th January 2022.

This comes to light because of Visa’s high fees for processing card transactions.

Amazon has supposedly told its customers today that it will no longer be accepting payments via this method and that all customers need to update their credit card details so that their subscriptions do not become affected.

Amazon has disputed the costs and has stated that the prices should be going down because of “technological advancements,” the online retailer will still accept debit cards, including Visa, and non-Visa credit cards.

An Amazon spokesman said, “The cost of accepting card payments continues to be an obstacle for businesses striving to provide the best prices for customers. These costs should be going down over time with technological advancements, but instead, they continue to stay high or even rise. As a result of Visa’s continued high cost of payments, we regret that Amazon.co.uk will no longer accept UK-issued Visa credit cards as of January 19th, 2022. With the rapidly changing payments landscape around the world, we will continue innovating on behalf of customers to add and promote faster, cheaper, and more inclusive payment options to our stores across the globe.

On the flip side, a Visa spokesperson said, “UK shoppers can use their Visa debit and credit cards at Amazon UK today and throughout the holiday season. We are very disappointed that Amazon is threatening to restrict consumer choice in the future. When consumer choice is limited, nobody wins. We have a long-standing relationship with Amazon, and we continue to work toward a resolution, so our cardholders can use their preferred Visa credit cards at Amazon UK without Amazon-imposed restrictions come January 2022.”

From the Editor.

For the consumer, this will become an inconvenience if they wish to continue to use Amazon and do not have an alternative payment method.

I do have a recommendation, but first would like to say I am not affiliated or get any monetary compensation for my recommendation with this bank or “Mastercard“, however, I have been a customer of “Cashplus” from the time they first started out in 2005.

Not only has this challenger bank become an official bank this year they have also been shortlisted for “The Atffi Banking Awards 2021“, but by far the best part is they are affiliated with “Mastercard” and one can open a bank account without any credit checks online and be guaranteed an account even if you have a poor credit history.

Hopefully, whatever happens, it will work itself out in the end, but Visa is naive to think that consumers will not be looking for alternative credit/debit card providers to counteract the problem facing them. Furthermore, I disagree with their statement that nobody will win this war as the consumer is astute and will not think twice about changing providers.

#cashplus #cashplusbank #theafttibankawards #bankawards #ukbusinessbanking #mastercard #amazon #visa #business #creditcards #debitcards

Telephone Encryption to Process Payments.

When Companies Do Not Use Telephone Encryption To Process Payments.

It is drummed into our heads to never give out bank details over the phone especially your CVV number (the last three or four digits on the back of the card), yet some companies still are not PCI DSS Compliant and still insist on processing payments without encryption.

Is it secure to provide debit card information over the phone?

Generally speaking – if the merchant has encryption software installed it is safe to give your card details, however giving your details to a person is not, as they can easily screenshot your information or use spy cameras and use it further down the line in say a month or two. Most reputable merchants employ a number of technologies that greatly increase the security level when making payments over the phone.

One of them is your credit/debit card number, which as an owner of the card only you should know, and another is a shortcode called CVV – an abbreviation that stands for card verification value.

Printed on the back of your card, the CVV is a 3-4 digit code and its intended goal is to provide additional security when making purchases. The CVV makes sure you are in possession of the card and not someone else as the code shouldn’t be known to anyone other than the card owner.

Despite all security measures you should never forget that fraudsters are always looking for ways to beat them and steal your credit/debit card information and quite possibly even your money! This is why it is important to know how to protect your data by doing a few simple things you can further protect yourself and your earnings.

This is what you need to know and so by paying attention when providing card details, especially on the phone:

  • If using the Internet, make sure the goods or service you want to buy comes from a reputable web site. With that being said, always research the company offering the service or product beforehand.
  • Never make your card details shown in public.
  • Never provide your cvv number when asked on the phone or when processing a card payment in person. This is a sure sign of an impending fraud! CVV numbers are for online purchases only!
  • When making a payment on the phone, always obtain the phone number from a trusted source and make the call directly.
  • Always check your monthly bank statement thoroughly for charges you do not recognize.

PCI DSS Compliance

The Payment Card Industry Data Security Standard (PCI DSS) is made up of twelve requirements. These requirements cover a wide range of topics, including securing networks, protecting data, access control measures, information security practices, and monitoring and testing. Its overarching aim is that cardholder data be protected by any organization that stores, transmits, or processes this information. Compliance is enforced by regular audits carried out by either a professional Qualified Security Assessor (QSA), Internal Security Assessor (ISA), or through a Self-Assessment Questionnaire (SAQ).

Non-compliance can result in fines, likely to be imposed by the card issuers via the acquiring banks, for any merchant who fails to meet the required standard.

Any organization that takes credit card payments is subject to the rules laid out in the PCI DSS, and they also apply to payments taken over the phone. For those companies taking payments inside a contact center, they must make sure that they:

  • Demonstrate evidence of compliance with over 400 security controls which are applicable to any part of the contact center environment handling card data.
  • Ensure that sensitive authentication data (CVC2/CVV2 security code) is not stored in any format anywhere, including call recordings.
  • Vet new CSRs and conduct appropriate background checks; an expensive and time-consuming process
  • Make sure data cannot be removed from the call center by any means; usually by restricting the use of pens and paper and banning mobile phones from the contact center.

For a company to brush off your concerns that their payment processing methods are secure, they need to provide evidence of this when asked.

ENCRYPTION (or cryptography) makes card data unreadable to people without special information (called a key). Cryptography can be used on stored data and data transmitted over a network. Payment terminals that are part of PCI-listed P2PE solutions provide merchants the best assurance about the quality of the encryption. With a PCI-listed P2PE solution, card data is always entered directly into a PCI-approved payment terminal with something called “secure reading and exchange of data (SRED)” enabled. This approach minimizes the risk to clear-text card data and protects merchants against payment-terminal exploits such as “memory scraping” malware. Any encryption that is not done within a PCI-listed P2PE should be discussed with your vendor.

Consumer rights

Certain consumer rights in the UK mean that all card transactions come with responsibilities for the merchant.

Cardholders can raise a dispute for transactions – including those done over the phone – to their card issuer, where the retailer did not provide the product or service, deliver on its own terms, or the transaction went ahead without the cardholder’s consent. This can result in a chargeback where the merchant is charged a fee and the full amount that was disputed.

The merchant should therefore be careful to get consent for each card transaction done over the phone. To avoid chargebacks, you should consequently get enough details from the customer to back up the consent. This could be the card security code, billing address, customer name as it appears on the card, etc.

If a credit (not debit) card is used for a £100+ transaction, section 75 of the Consumer Credit Act 1974 gives the consumer the right to claim back the money for a telephone transaction they did not clearly consent to.

Small_Merchant_Guide_to_Safe_Payments

PCI_Who_We_Are

Anyone reading this who has concerns about a company asking for their bank details over the phone should contact us using the form below for more guidance:

Note From the Editor.

The reason for this post today is because my daughter wanted to cancel her contract early with a mobile phone provider in the UK. She first spoke to someone who said they could not make the payment over the phone because they were working from home and that they would get the billing department to phone my daughter within the hour.

It was not long after my daughter received the call from the company and she could tell it was a call center because of the background noise. The operator then asked for my daughter’s card details over the phone without encryption and the worrying part was they asked for my daughter’s CVV number.

Now if this was me and I should have warned my daughter ahead of the call that if anyone asks for a CVV number refuse to give it and just insist they send a link to a secure payment method.

The amount was quite significant and now my daughter and I are worried that her details could have been stored for a later date. It does not take much effort to write the details down or screenshot a screen. One could even use a spy camera if mobile phones, pens, and notepads are prohibited.

I will be contacting the company for comment before publishing their name and my findings with Ofcom and the card payment companies who will all be making their inquiries.

**All Card issuers and banks should have a PPI & DSS Compliance Page on their websites giving consumers an opportunity to report companies to them, for them to investigate. Furthermore, the Banks and Credit Card issuers should also spread awareness to help counteract the UK £2 Billion credit card/debit card fraud problem. Merchants should only use telephone encryption software which should be made mandatory by law.

https://www.finextra.com/pressarticle/75038/the-climbing-cost-of-fraud-over-2-billion-stolen-from-uk-credit-and-debit-cards-in-the-last-year

https://www.ofcom.org.uk/phones-telecoms-and-internet

#telephonesecurity #telephoneencryption #cybersecurity #paymentgateways #creditcardproviders #cvvnumber #tephonepayments #pcicompliance #dsscompliance

Banking Awards Shortlist 2021

The Aftti Banking Awards 2021

With only three weeks to go the banking industry is up for its awards The AltFi Awards 2021 honoring the top innovators in financial services and banking.

Hundreds of nominations have been rigorously assessed (while taking into account any biases, where possible), and now a “Afti” has a full list has been compiled of those firms shortlisted for one of the awards.

The full list of winners will be announced on 26 November following a glamourous ceremony in the heart of the City of London.

You can find out more about how to attend here.

Here, though, in full are those shortlisted for the AltFi Awards 2021.

Fintech Of The Year 2021
PensionBee   
Mollie   
Raisin DS
Lender Of The Year 2021
ThinCats   
Silicon Valley Bank   
Just Cashflow
CEO Of The Year 2021
Anne Boden, Starling Bank
Sebastian Siemiatkowski, Klarna
Samantha Seaton, Moneyhub
Bank Of The Year 2021
Starling Bank   
ClearBank   
Cashplus Bank
Fintech App Of The Year 2021
Freetrade   
Snoop 
Tide
Best UX Of The Year 2021
Freetrade   
Monzo   
Moneybox 
Open Banking Provider Of The Year 2021
Accountscore   
Plaid   
TrueLayer
Financial Inclusion 2021
Auxmoney   
Lendwise   
EdAid
Investor Of The Year 2021
Draper Esprit   
Chrysalis Investments   
Augmentum Fintech
Fintech Woman Of The Year 2021
Lisa Jacobs, Funding Circle
Seema Desai, iwoca
Dame Jayne-Anne Gadhia, Snoop
B2B Fintech Of The Year 2021
Thought Machine   
Checkout.com   
Plaid
Crypto Platform Of The Year 2021
Coinbase   
Bitpanda   
Zumo
Consumer Fintech Of The Year 2021
Moneybox   
Habito   
Starling Bank
Advisory Firm Of The Year 2021
Thistle Initiatives   
Adempi   
Stone Mountain Capital 
The One to Watch 2022
Lightyear   
Snoop   
Tred
Diversity and Inclusion Initiative Of The Year 2021
iwoca   
Global Processing Services (GPS)   
PensionBee
Special Industry Contribution Of The Year 2021*AltFi Editor’s Choice 2021*

Note From the Editor.

I am happy to say that a Challenger bank “CASHPLUS” that I have been a loyal customer with since they first started out, became an official bank this year and has been shortlisted for the award Bank of the Year 2021.

**Please note we are not affiliated with “Afti” what so ever and opinions expressed are solely our own.

https://www.altfi.com/article/8499_altfi-awards-2021-the-shortlists-revealed

#banking #challengerbanks #ukbusinessbanking #businessbanking #bankingawards #cashplus #cashplusbank #bankawards2021 #bankingawards 2021 #bankmarketing #marketingbanks

Bank Marketing Tips

Bank Marketing Tips.

Like any other business in any industry banks also need to diversify strategies to generate more traffic and leads.

Below I have embedded a link to a couple of posts I made on other sites relating to 35 Bank Marketing Tips.

#banking #marketingbanks #ukbusinessbanking #money #bankguerillmarketing #bank #corporatebank #highstreebanks #challengerbanks

www.ukbusinessbanking.co.uk

www.ukbusinessbanking.co.uk & www.ukbusinessbanking.com

Banking Directory- Online Banking Magazine – Banking News – Banking Forum – Banking Job Search – Banking Digital Marketing – Banking SEO – Banking Content Writing – Banking Networking.

www.ukbusinessbanking.co.uk & www.ukbusinessbanking.com

Domain Names Awaiting a Financial Investor.

We have decided after some thought that we will launch this site and optimize it to its full potential rather than just mark it for sale. Whilst waiting on an investor we will potentially monetize the site and create a keyword SEO link wheel with exact match searchable marketing keywords which inevitably will be an extra income stream for our business banking marketing services.

We have in the Disclaimer of the site www.ukbusinessbanking.co.uk that we are willing to discuss a business proposition to acquire both domain names and the website or build a new site should the investor have ideas of their own.

“This is a no brainer….any financial institution wanting to capture the exact match searchable keyword phrases would benefit acquiring these domain names to secure global positioning, for the most searched for keywords relating to ‘UK Business Banking’ “.

In the meantime, we will be taking advantage of all the traffic until we find an Investor. As with all our sites, we will start adding posts to help with ranking. This is a slow process and will take time, as we have literally launched this site officially today. We have other keyword non-related sites that are not related to banking but are in the similar process of launching officially in the next few weeks to include solicitors, gas engineers, and makeup retailers directories.

Our main objective other than to find an investor is to offer Business Banking Marketing Services which entail:

  1. Blogging
  2. Social Media Content
  3. Customer Service Demographics
  4. Video Content Campaigns
  5. Strategic Partnerships Networking
  6. Reward Programs
  7. Digital Signage
  8. Community Awareness Initiatives
  9. Outbound Marketing
  10. Inbound Marketing
  11. Advertising
  12. App Design
  13. Branding & Re-branding
  14. SEO Optimisation
  15. Website Design
  16. Chat Bots

**We invite Domain Investors who also own Banking Domain Names to List their Domains on our Domain Marketplace.

#ukbusinessbanking #businessbanking #corporatebusinessbanking #corporatebanking #commercialbanking

I hope the British Banker Looses His $5M Bet.

British Banker Bets $5 Million Dollars on Donald Trump winning the election.

I hope he looses the lot.

To think there are people starving in the world and some not having enough money to put food on the table for their kids to eat and drowning in debt because of banks that over charge and set ridiculous fees and yet “this person” and I am being kind here has the audacity to bet $5 Million Dollars what does that say about him?

Obviously he can afford to loose this sort of money and it most probably is pocket change to him. Hence imagine the the lifestyle he leads and never having to worry about paying bills.

How did he make his millions if not feeding off the less fortunate? He may in deed by a Bitcoin Millionaire, from what I have heard he used to be a Banker.

I hope he gets jinxed.

I am so angry words fail me and I have absolutely no respect for this individual. In my opinion he is the lowest of the low.

Businesses in the UK are closing because of the pandemic and may need bailouts whilst he squanders money as if it grows on trees.

I am livid.

Again I hope he looses the lot….

https://londonlovesbusiness.com/british-banker-bets-5m-for-trump-to-win-us-election/

https://www.dailymail.co.uk/news/article-8907577/Mystery-British-businessman-bets-5million-Donald-Trump-winning-presidential-election.html

Make Your Millions With Affiliate Marketing.

Silly Money, António Horta-Osório £60 Million Earnings

António Horta-Osório.

So here are my thoughts on the banking system and how the average Joe sloggs their guts out to make a living and tries to save his fiat money, but with cost of inflation on goods and services the pittence that he saves may take its toll on his health due to the greed of the banks. Yet we read in the news that Lloyds Bank Chief Executive António Horta-Osório who has worked at the bank for 20 years is planning on steppling down.

What infuriates me the most is for every year he works at the bank his salary, wait for it…….is £3 million, yes you heard me right in the 20 years he has worked there he earnt £60 million.

So here is an average salary of other professions in USD:

Anesthesiologist
Salary: $265,990
Stress level: High
Work-life balance: Low

Surgeon
Salary: $251,890
Stress level: High
Work-life balance: Low

Oral and Maxillofacial Surgeon
Salary: $242,740
Stress level: Above average
Work-life balance: Below average

Obstetrician and Gynecologist
Salary: $235,240
Stress level: Above average
Work-life balance: Below average

Orthodontist
Salary: $229,380
Stress level: Below average
Work-life balance: Above average

Psychiatrist
Salary: $216,090
Stress level: Above average
Work-life balance: Average

Physician
Salary: $198,370
Stress level: High
Work-life balance: Average

Prosthodontist
Salary: $196,960
Stress level: Above average
Work-life balance: Below average

Pediatrician
Salary: $187,540
Stress level: Above average
Work-life balance: Average

Dentist
Salary: $174,110
Stress level: Average
Work-life balance: Above average

Nurse Anesthetist
Salary: $169,450
Stress level: Above average
Work-life balance: Below average

Petroleum Engineer
Salary: $154,780
Stress level: Above average
Work-life balance: Below average

IT Manager
Salary: $149,730
Stress level: High
Work-life balance: Below average

Podiatrist
Salary: $148,470
Stress level: Average
Work-life balance: Average

Marketing Manager
Salary: $145,620
Stress level: Above average
Work-life balance: Below average

Financial Manager
Salary: $143,530
Stress level: High
Work-life balance: Average

Lawyer
Salary: $141,890
Stress level: High
Work-life balance: Below average

Sales Manager
Salary: $137,650
Stress level: High
Work-life balance: Below average

Financial Advisor
Salary: $124,140
Stress level: Above average
Work-life balance: Average

Business Operations Manager
Salary: $123,460
Stress level: Above average
Work-life balance: Below average

Pharmacist
Salary: $121,710
Stress level: Above average
Work-life balance: Below average

Optometrist
Salary: $119,100
Stress level: Average
Work-life balance: Above average

Actuary
Salary: $114,850
Stress level: Average
Work-life balance: Average

Political Scientist
Salary: $112,030
Stress level: Average
Work-life balance: Average

Medical and Health Services Manager
Salary: $111,680
Stress level: Above average
Work-life balance: Above average

The professions mentioned above have more responsibilities than a mere CEO who has all his indians doing the work reporting back to the Chief, whilst he sits in his Posh Office dictacting and pen pushing and he gets £3 Million Salary a year…….. That is a disgrace and I am sick to my gut thinking that people around the world live in poverty, whilst these people are just blood sucking vultures, that feed off others.

How can they look themselves in the mirror in the mornings when they set astomonimal charges and rob people blind. How many people in this world have committed suicide because they owed money to the banks.

I have often wondered how bank charges are calculated and for example to bank a foreign cheque with Santander is £10 but what if I wanted to bank a £10 equivilant amount the bank would eat up my profit. I have been told in the past it is not worth banking the cheque as I would loose money. So how do you get your earnings if the bank takes all the money from the cheque? So if I had 100,000 £10 equivalnt current foreign cheques and the bank charged me £10 for each cheque I tried to bank and if I were stupid they would make £1M off me and I would not see a penny lol.

This is a downright disgrace and myself aswell of millions of other people are lining these CEO’s pockets whilst we are left to struggle to make ends meet. So if I earn £10 through selling a book but it is in foreign currency and the bank charges me £10 to process the payment I have in theory given the bank £10 and have made no money on the sale, yet the bank has made money off the sale and I have not made a single dime.

I have one question how can the likes of António Horta-Osório justify £60 Million Earnings?

How to profit off the poor is all I can say and no wonder in every picture I have seen online he is grinning like a cheshire cat.

You can read the whole article here: https://londonlovesbusiness.com/lloyds-bank-chief-executive-to-step-down/?utm_source=newsletter&utm_medium=email&utm_campaign=LLB+newsletter+06%2F07%2F2020+AM

BANKING SECURITY

BANKING SECURITY.

What may sound far fetched or an innovation for the future may in actual fact be closer to our present time than we think, with passwords being a thing of the past.

Biometrics security uses technology such as Facial, Retina, Voice and Fingerprint Recognition and is already being implemented into our passports and in Government Institutions. We already have biometric fingerprint recognition in our schools for school meals in the UK.

Banking institutions will use facial scanners and voice recognition to authenticate users to allow access to all the banking services. This will potentially eliminate identity theft by using an individual’s facial
characteristics to athenticate the user which is more secure than passwords and chip and pin or contactless that can be cloned or stolen.

What will happen eventually in the future we will have chips implanted which will hold all our data which will be a replacement for our credit and debit cards.

Recently MasterCard announced that they will be introducing biometric payment cards with built in finger sensors.

The concept will ensure that the user will have to authenticate the payment with their finger print which will authorise the payment. This will also act as a move over new EU regulations that will come into force later this year to combat bank fraud, enforcing people to have two way authentication security methods to complete transactions.

We have available in our inventory www.voicescanners.com for sale.

Anyone interested in this domain please eamil us: hello@cymrumarketing.com

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