Tomorrow's Transactions

JANUARY 27, 2023

Protecting children is not the same as preventing fraud In the design of every customer facing service there is a trade off between ‘ease of use’ and the countermeasures incorporated into the system to prevent misuse. We are regularly told by User Interface specialists that any friction added to their checkout process provides a reason… Continue reading Protecting children is not the same as preventing fraud.

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Tomorrow's Transactions

SEPTEMBER 22, 2022

Living abroad, with tokens. I have just completed a three-month stint building our business in Australia, and expect to return for a similar period in the near future. How were payments, for me? The first thing to note (to coin a phrase) is that I used no cash whatsoever and don’t recall seeing anyone else… Continue reading Living abroad, with tokens.

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Tomorrow's Transactions

SEPTEMBER 16, 2022

Today is International Identity Day supported by the many organisations around the world seeking to address the huge inclusion issues caused by a lack of digital identity. It is tempting to think that this is a mainly developing world issue and that in the developed world the lack of digital identity services is more of… Continue reading Identity really is the new money.

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Tomorrow's Transactions

SEPTEMBER 16, 2022

If we think about the idea of digital identity in the internet of things then luxury goods such as watches make for an interesting example. How would you tell a fake Rolex from a real one in an always-on, interconnected world? You might say just put a hologram in it, or a chip that can’t… Continue reading The Identity of Things: Products and Provenance.

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Tomorrow's Transactions

JUNE 28, 2022

I had the privilege to chair a discussion about identity in the metaverse at the Identiverse conference in Denver in June 2022, and had great fun discussing the new landscape for identity with Heather Vescent, Jonathan Howle, Katryna Dow and Gopal Padinjaruveetil. In order to frame my thoughts and get the discussion about identity and… Continue reading Identity in the Metaverse.

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Tomorrow's Transactions

MAY 17, 2022

This week, a press release from China announced they had expanded acceptance of the digital Yuan onto public transport in 12 cities. China has led the way in the development of a Central Bank Digital Currency (CBDC), launching a trial in 2020 which has been expanding steadily. But what does this mean? What is a… Continue reading Do I need to upgrade my Fare Collection system to support CBDC?

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Tomorrow's Transactions

MARCH 15, 2022

Developing secure software and systems is hard. Even if the most experienced engineers use the best tools and follow best practices, bugs and vulnerabilities can slip through. Add to that the amount of legacy or 3rd-party code in use today, developer turnover and the use of outsourcing, and we can see that it is very… Continue reading Arm’s CHERI-Based Morello Prototype Adopts New Approach to Security.

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Tomorrow's Transactions

FEBRUARY 11, 2022

Everyone seems to think that MaaS (Mobility-as-a-Service) is a brand-new business model, when in fact, Transit Agencies have been providing mobility as a service for years, just without the hyphens. When I ride transit I just pay for the service when I need it or purchase a monthly pass if I expect to use it… Continue reading New Features Greet Riders As They Return to Transit.

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Tomorrow's Transactions

FEBRUARY 8, 2022

For Safer Internet Day, I thought I’d bring a Mediterranean theme. As a classicist, I frequently switch between ancient and modern, applying time-tested principles to emerging technologies. Plato had it right on data protection: the price of not participating in public life is to be ruled by less able men. I have heard it said… Continue reading Safer Internet Day 2022 – It’s all about you!

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Tomorrow's Transactions

JANUARY 27, 2022

Insecure technology is regularly cited as barrier to the use of online voting systems, in particular when casting your vote through your mobile phone, rather than putting your cross on a piece of paper and putting in a box at the polling station or mail box. At the same time those detractors trust the same… Continue reading Can Current Technology Deliver Secure Mobile Voting Solutions?

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Tomorrow's Transactions

DECEMBER 14, 2021

The human society is now at crossroads – demanding changes in our lifestyle, health choices, economics, and civil liberties. These changes are accelerated by climate change, political response to the pandemic, the need for racial and gender equality, human migration, and of course, a few break-through technologies such as digital automation, data analytics, and machine-learning… Continue reading Be on the smart side of the Great Reset.

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Tomorrow's Transactions

DECEMBER 13, 2021

Our overriding theme of this year’s Live5 is interoperability which will lead to inclusion. Whether this is in payments or transit, identity or as a generalised trend what we’re seeing is a collapsing of the barriers between silos. In some areas this is happening more quickly than in others. We believe that the technology changes… Continue reading Will 2022 start to drive the future of Interoperability and Inclusion?

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Tomorrow's Transactions

NOVEMBER 16, 2021

The biggest news in payments security in the last month concerns allegations that point of sale terminals supplied by PAX Technology have been subverted to have the capability of launching cyberattacks. Details of the allegations can be found at Krebs and Bloomberg; in response, PAX Technology has published a rebuttal. The main allegation seems to… Continue reading Point of Sale cyberattacks – is certification enough?

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Tomorrow's Transactions

OCTOBER 27, 2021

Our most recent webinar was on the topic of QR Codes. As the discussion showed over the past year, driven by the pandemic, businesses have started to realise that QR codes can be used to transform the payments experience – meaning that the utility of QR codes seen in their widespread use in eastern markets… Continue reading QR – codes the comeback (they never really went away).

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Tomorrow's Transactions

OCTOBER 1, 2021

Independent strategic and technical consultancy Consult Hyperion, is pleased to announce the following new appointments: • Steve Pannifer is promoted to Managing Director• Chris Horswell is appointed Chairman of the Board• Howard Hall, Managing Director of CHyp USA Inc., is promoted to the main board. The following are newly appointed to the board: • Gary… Continue reading CONSULT HYPERION ANNOUNCES NEW BOARDROOM APPOINTMENTS TO DRIVE NEXT PHASE OF GROWTH.

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Tomorrow's Transactions

SEPTEMBER 17, 2021

Victoria Saporta, BoE executive director for prudential supervision, has said recently that minimum resilience requirements should be required for the tech giants’ (and others’) hosting services, before they may process and store banking data. We strongly support these comments. We have identified this issue as one of a number of new risks arising from modern… Continue reading Big Tech, Financial Data … and resilience for critical infrastructure.

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Data System cryptocurrency Security 39

Tomorrow's Transactions

AUGUST 9, 2021

EMV is at the heart of global payment card processing. As a specification it governs the processing of billions of transactions globally, with the vast majority of those flowing through the international payment schemes. As a technology it has been incredibly successful, reducing fraud levels everywhere it’s been introduced and its extension into contactless payments… Continue reading The changing face of payments.

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Tomorrow's Transactions

JULY 13, 2021

Deep in the mists of time (that is to say, the early-1990s), I led the team from Consult Hyperion responsible for Mondex specification, design and development. For those not familiar with paleo-payments, it was one of a clutch of (contact) smart card based electronic cash systems, none of which survived beyond, let’s say, early adolescence.… Continue reading Mondex Memories and CBDC.

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Tomorrow's Transactions

JUNE 14, 2021

Earlier this year we were delighted to be part of the Consult Hyperion webinar on Request to Pay. A common thread in post-event conversations that followed was an interest in the parallel developments of the UK and European flavours of Request to Pay and how they might work together. With the launch of the European… Continue reading Request to Pay’s Grand Tour.

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Tomorrow's Transactions

MAY 13, 2021

We’ve now had well over year of sporadic lockdowns, of varying degrees of severity. I’m loathe to tempt fate, but it does seem that, in the UK, we’re heading towards a low background level of Covid-19, during the summer months at least. It’s therefore an appropriate time to examine the changed methods of working, and… Continue reading Pandemic working – reflections from our CEO.

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Tomorrow's Transactions

APRIL 26, 2021

The Bank of England and the UK Treasury have announced a Central Bank Digital Currency (CBDC) Taskforce to coordinate the exploration of a potential British CBDC. But how could a digital Pound actually work? As it happens, this is something that Consult Hyperion knows rather a lot about. Apart from our work on the first… Continue reading How Could Digital Currency Work?

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Tomorrow's Transactions

MARCH 4, 2021

In our Live 5 for 2021 we raised micro-location as an area of technology where we expect to start seeing significant advances being made. UWB (Ultra Wideband) is just starting to get traction in consumer electronics and we believe that this will trigger innovation in micro-location technology. So let’s back up a little, what is… Continue reading Live 5 – Micro-Location.

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Tomorrow's Transactions

MARCH 2, 2021

For the third year running, my colleague Gary Munro facilitated a thought-provoking debate around the use of mobile phones and tablets as contactless payment terminals during last week’s virtual Merchant Payments Ecosystem (MPE) conference. For the last three years, Gary and his panellists have tracked the progress of the SoftPOS technology and standards.

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Conference Mobile Payments Technology 48

Tomorrow's Transactions

DECEMBER 16, 2020

At this time of year my colleague, Dave Birch looks forward, his annual “Live Five” started as a bit of fun, but over the years has become a thought provoking look at what might impact our industry in the coming year, if you haven’t read it yet, please follow this link. As we come to… Continue reading Ruby reflections, 40 years of technology change at work.

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Tomorrow's Transactions

DECEMBER 14, 2020

It’s that time of year again: where’s it’s traditional to take stock and look to the future. At Consult Hyperion, we do that through our ‘Live 5’ process; where we look at major trends in business, technology and consumer attitudes and project them onto our areas of business focus, with twists of our own. This… Continue reading Contact-Free: the backdrop to Payments, Ticketing & Identity in 2021.

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Tomorrow's Transactions

DECEMBER 11, 2020

Guest blog post by Mirela Ciobanu, The Paypers The topic of Central Bank Digital Currency (CBDC) is gaining momentum. Across the globe, many CBDC initiatives aim to digitalise payments, support financial inclusion, make cross border payments faster and cheaper, support fiscal transfer, etc. What is firing up discussions around CBDC and why is it important… Continue reading 5 things you need to know about Central Bank Digital Currencies (CBDC).

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Payments cryptocurrency Mobile 39

Tomorrow's Transactions

DECEMBER 7, 2020

Recently I saw this article suggesting that 97% of mobile transactions in Asia are fraudulent? Can this really be true? I decided to investigate. The article highlights an excellent report published by Secure-D looking into mobile ad fraud, which it appears is a largely hidden multi-billion dollar enterprise, impacting emerging markets in particular.

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Tomorrow's Transactions

NOVEMBER 27, 2020

For most of us 2020 isn’t going to be a year to linger fondly in the memory. It’s been a monumental slog in the face of grim news and little cheer but from a payments perspective we’ve seen an unsurprising surge in interest in all things payment related. People have moved from cash to electronic… Continue reading Black Friday, Cyber Christmas, and a Contact-Free New Year.

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Tomorrow's Transactions

NOVEMBER 10, 2020

What did you think of the US election? I don’t mean the candidates and the outcome. What did you think of the election process? Should it be possible for national elections of this type to be done online? Last week the IET published a paper on internet voting in the UK, led by our good… Continue reading Internet voting – challenging but necessary.

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Tomorrow's Transactions

NOVEMBER 5, 2020

I recently had the pleasure of “attending” the LendIt Fintech – Europe 2020 virtual event. Now, much of the content covered banking services for small and medium enterprises (SMEs), an area that personally I’m not particularly familiar with, but one that is gaining more focus in the news of late. One thing that struck me… Continue reading The Disintermediation of Business Banking.

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Tomorrow's Transactions

OCTOBER 21, 2020

This is the third of three blogs about technologies to support contact-free use of public transport. The radio again – I hear that the Transport Minister for England had just reported that there have been fewer than 400 fines for people failed to wear face covering on public transport. More than 115,000 travellers have been… Continue reading Contact-free public transport (Part 3).

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Tomorrow's Transactions

OCTOBER 20, 2020

This is the second of three blogs about technologies to support contact-free use of public transport. Public transport operators have been making great efforts to make public transport safe during the pandemic. TfL recently launched a new app that makes it easier for passengers to plan their travel and avoid routes where they might come… Continue reading Contact-free public transport (Part 2).

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Tomorrow's Transactions

OCTOBER 19, 2020

This is the first of three blogs about technologies to support contact-free use of public transport. I heard on the radio that, despite ministers encouraging people in England back to work in their offices, most are staying at home. Commuter trains are about one-third full and buses are about 40% full. During the COVID-19 pandemic,… Continue reading Contact-free public transport (Part 1).

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Tomorrow's Transactions

OCTOBER 2, 2020

As Consult Hyperion, and as many other analysts, predicted, Covid-19 has driven the adoption and use of contact-free technology at the point of service. A recent survey funded by the National Retail Foundation, found that no-touch payments have increased for 69 percent of US retailers surveyed, since January 2020. In May, Mastercard reported that 78%… Continue reading Payment Card issuance errors; leaving the door wide open for fraudsters.

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Tomorrow's Transactions

SEPTEMBER 24, 2020

Our friends at Smartex challenged its readership to define Digital Identity the other day, with a bottle of wine on offer for the best definition. I’m pleased to say that the bottle of wine was won by Consult Hyperion, with a couple of competition entries submitted. Coming up with a definition for digital identity is… Continue reading Defining Digital Identity.

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Technology 54

Tomorrow's Transactions

SEPTEMBER 18, 2020

The Digital ID & Authentication Council of Canada (“DIACC”) announced the launch of the Pan-Canadian Trust FrameworkTM (“PCTF”) this week, a set of digital ID and authentication industry standards that will define how digital ID will roll out across Canada. Its launch marks the shift from the framework’s development into official operation and will begin alpha testing by public… Continue reading DIACC announces launch of the Pan-Canadian Trust Framework.

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Tomorrow's Transactions

AUGUST 18, 2020

The pandemic has revised interest in a topic that has surfaced repeatedly in Tomorrow’s Transactions events over the years, and that is the issue of local and complementary currencies. The Bristol Pound, the Brixton Pound, the Lewes Pound and many other experiments have sprung up around the country (indeed, around the world) to try to… Continue reading City Currency.

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