Shanghai Stock Exchange Rates are booming

The interest rate on overnight loans on the Shanghai Stock Exchange experienced some of the largest gains in nearly seven weeks as new market subscribers rushed to borrow cash in order to finance new share sales. According to experts, it is estimated that the initial public offerings on the Shanghai Stock Exchange will amount to nearly 2 trillion yuan.

Following this flurry of activity, the seven-day repurchase rate, which is commonly con-sidered to be an accurate gauge of interbank liquidity levels, rose two base points, top-ping out at 3.83 percent. According to Frank Sun, an analyst at Shanghai CFETS-ICAP International Money Brokering Co., the activity related to the IPO’s, while exciting, did little to rattle the more stable foundation of the interbank marketplace. This, of course, implies that interbank liquidity remains quite high.

According to the most recent reports, aggregate financing levels, the most broad level of credit available, reached nearly 1.69 trillion yuan in the month of December, which is almost 500 million higher than the initial estimate offered by a current Bloomberg survey. Analytics reports have also revealed that the volume of new currency loans has also fallen significantly to 697.3 billion yuan, down from 852.7 billion yuan in November of last year.

The price of one-year interest rate swaps, the fixed sum that must be paid in order to receive the current floating seven-day repo rate, was increased by nearly three basis points. Experts believe that the PBOC will most likely remain somewhat sedate on policy enactment as long as financial data does not begin to show signs of worsening. As the volume of loans continues to grow, it is likely that the economy will further stabilize.

Currently, the yield on government bonds which are slated to be due on December 2024 are unchanged. The yield remains fixed at 3.54 percent. This figure is the lowest closing that has been observed since December 1st of last year.

Given the large spate of activity that has currently been undertaken, it is likely that the marketplace will remain somewhat volatile for the coming weeks. It will be very interesting to observe how investors respond and reshape their strategies in the wake of such a substantial IPO for the Shanghai Stock Exchange. As always, it is likely that numerous opportunities will present themselves for those who are following the dynamics of this situation closely.

Is the Bitcoin Boom Over for Mining Software Providers?

When the Bitcoin hype machine tapers down, two potentially dangerous actions occur: 1.) people stop investing in the coin, which, given the absolute need for early-stage adoption, is causing significant hurdles for traders and investors alike, and 2.) Bitcoin miners stop mining Bitcoin due to a substantially decreased profit margin. Given the fact that the successful operation of the Bitcoin platform relies upon the miners to enable the transaction verification platform, commonly referred to as the Blockchain, a lack of miners means more than just a general loss of interest in this notorious alt-coin; it could mean the end of the entire operation.

It’s also important to remember that the process of mining bitcoin becomes inherently more difficult and cost ineffective as more coins are placed into circulation. The massive spike in Bitcoin miners in recent months has served to drive the operating expenses of competitive Bitcoin miners much higher than they ever could have imagined. As more and more hardware is required to mine Bitcoins, even the most experienced miners have begun to wince at the expenses they are incurring, especially as the price of Bitcoin continues to fall.

Ultimately, there are essentially two viewpoints one can adopt when discussing the current Bitcoin trends with an eye towards predicting the future. As there really exists no discernible trend or precedent for a product or idea such as Bitcoin, even on the most advanced bureau de change software available today, it’s anyone’s guess as to what exactly will happen. The coin will either flourish…or it won’t. In order for Bitcoin to remain a trending topic, however, Bitcoin miners are going to need to get excited about mining yet again. This, truly, is the first step towards keeping the Bitcoin operation in the running for status as a revolutionary product.

Is the Bitcoin boom over? It very well could be. Numerous experts have already proclaimed that the coin will be virtually worthless in coming months. As with all things revolutionary, however, a “wait and see” approach may be the best available. One thing is for sure, however: Bitcoin has dramatically redefined how we think of payment, currency, and bureau de change software in the 21st century, and that in itself is a commendable feat.

Don’t exchange currency at the airport – they have the worst exchange rates

After disembarking from a lengthy international flight, the chances are quite good that you’re ready to seize the day and jump headfirst into your vacation plans. That being said, industry experts agree that certain items on your pre-entertainment “to-do” list, such as exchanging currency, are best done after you have left the airport.

Recently, the British pound has made unprecedented gains against the Euro, reaching a record 1:1.35 conversion rate. For those traveling into EU countries for vacation, this is likely to produce a variety of joyful responses. That is, of course, unless you are exchanging your currency into the EU dollar at local airports, which have now been reported to be offering as low as 1:1.06, a rate that is too far below international standards to ignore. With exchange rates settling near 1:1.30 online and 1:1.26 at a large number of high street banks, it seems almost impossible to believe that airport exchange services have the audacity to venture as low as they seem to be headed. This would be a scandal, but tourists are, nevertheless, continuing to opt into these predatory banking practices which are dramatically reducing the value of their financial resources during travel.

When asked to discuss the current exchange rates, Simon Phillips, a member of No1 Currency, stated, “The rates offered by money exchanges at the airports are terrible, targeting travellers who have no option. The clear message is to plan ahead and order online.”

Fortunately, tourists have a number of options available to them after they have decided that they are ready to exchange their currency outside of this predatory airline environment. A number of websites are currently available which feature outstanding currency exchange rates for a wide array of currency pairs. For those who would prefer to avoid online exchanges, it is highly recommended that all available exchange options at local banks be explored before visiting an airline shop.

Although the value of today’s in-demand currencies is likely to shift over time, savvy travelers can continue to find the best possible exchange opportunities to maximize the value of their financial resources. As always, a bit of persistence will likely pay off in the long run. Those who are passionate about finding the best possible deals on their exchange rates can do so by spending the time needed to locate the best possible exchange services. With the summer holiday season just around the corner, this information really couldn’t come at a better time!

Redefining the Power of Money Transfer With Twitter Payment Systems

What do you think of when the words “money transfer” come to mind? For many of us, there will invariably be a host of not-so-wonderful experiences, unfortunately, often due the fact that this particular service, while essential for travels abroad, often results in poor exchange rates and lofty commission rates, not to mention frustrating wait times. Of course, the particular location or organisation a traveller uses to exchange his or her currency will largely influence the experience they have during the process. With that in mind, a recent move by several of the UK’s most popular high street banks to incorporate Twitter into the money transfer process has reinvigorated the enthusiasm and interest of many citizens who had become jaded with these institutions in the past.

According to representatives from key banking institutions, the era of “Twitter banking” is fast approaching. In fact, several organisations around the world have already begun to integrate social media into their payment platforms. For example, the Indian-based ICICI bank has already developed an extensive Twitter payment platform which has become an indispensable element of the local economy. Similar systems have also emerged in France.

Although several tech giants are moving in different directions regarding payment systems, such as the contactless transfer mechanisms being incorporated into the Apple Pay service for iPhone and the Apple watch, many experts agree that mobile money transfer via social media will revolutionise the current infrastructure.

When asked for a statement regarding the future of mobile, social media-driven payment platforms the UK, Deloitte Security Consultant Stephen Nicholls stated, “’Twitter banking is not only coming, it already exists. ‘The opportunities are endless. But how we cope with that in terms of tackling online fraud will be absolutely fascinating.’

As can be seen from these comments, bank security teams will be forced to evolve rapidly to confront the increased threat of fraud now that social media is being used to facilitate payments. That being said, if such a problem can be surmounted, there is virtually no limit to how this amazing technology can and will be utilised. More information about these systems will likely be made available in the coming months. For those who are interested in learning more about social media driven money transfer platforms, a variety of tech-minded publications are carrying the most up-to-date news pieces regarding this fascinating and revolutionary technology.

£650 million stolen from online banks using an illegal money transfer software

In what many experts are now considering to be the most serious and damaging cybercrime of all time, Russian hackers have allegedly stolen nearly £650 million from a series of international banks, including financial institutions in China, the United Kingdom, Japan and the EU at large. The crime was uncovered after it was discovered that cash machines in the Ukraine were releasing large sums of money at seemingly random intervals. In order to determine the source behind this strange behavior, Russian-based cybersecurity firm Kaspersky Lab was called in to investigate.

After their inquiries, these experts uncovered a staggering infrastructure which has been developed over the course of two years. According to Kaspersky Lab, the operation was multi-phase in nature, involving both the installation of malware on internal computer systems within various banking networks, as well as mimicry of banking personnel made possible by illegal surveillance which occurred after the hackers had managed to break into the security systems of the banks they were planning to steal from and use custom designed money transfer software to achieve their desired goals.

Experts believe that the duration of time needed following the installation of the malware until the actual theft was between two to four months per bank. According to Sergey Golovanov, a member of the Kaspersky Lab team tasked within investigating the case, “These bank heists were surprising because it made no difference to the criminals what software the banks were using…It was a very slick and professional cyber robbery.”

Are we entering a new era of cybercrime? The changes are good that security professionals will be required to dramatically improve and refine pre-existing systems throughout the banking world in order that a theft of such magnitude does not happen again. It is also important to note that such trespasses can also occur in virtually any other large industry as well. To effectively counter this increases threat, cybercrime professionals must remain vigilant and do their best to limit the number of opportunities that cyber criminals may be able to exploit for personal gain. In the worlds of Golovanov, “even if the money transfer software is unique, a bank cannot get complacent.”

It will be interesting to observe whether or not these criminals will be brought to justice, and, if so, what authorities can learn from the tactics these hackers used.

EU to tighten money transfer rules to prevent online fraud

In an effort to thwart the surge in cybercrime and various other forms of online fraud, the European Banking Authority has announced that internet-based payment service providers will be required to improve their general security procedures by August of 2015. As a follow-up to this statement, the EBA has published a series of ‘minimum security guidelines’ that must be met by payment service providers in each of the EU’s 28 member states.

Examples of these reforms include a new mandate which states that these service providers improve the verification standards present in their systems in order to ensure that customers are properly authenticated before carrying out their payment. Additionally, the EU has announced that they will be revising their Payment Services Directive in order to improve the general consumer experience as well as provide a more secure and competitive environment in which payment service providers will be compelled to enhance their services in order to maintain a positive relationship with their customers. These new guidelines will likely be initiated in 2017.

It seems as if the EU’s efforts to thwart online fraud and misuse of money transfer software could not have come at a better time. In 2014 alone, the losses created by money transfer software was approximately $975 million dollars, a 21% increase over the previous year.

Whether or not these new guidelines will truly make the positive impact outlined by the European Banking Authority has yet to be seen. What is likely, however, is that the topic of cybersecurity and cybercrime prevention will become much more commonplace than it is now which is, in itself, a huge step forward for the European Union. As evidenced by the recent £650 theft allegedly perpetrated by Russian hackers, there is a massive need for online security reform. The damage caused by these crimes is very real and is likely to pose a serious threat to future EU growth unless it is confronted now.

More information concerning the outcomes of this legislation, as well as coverage of the reforms being outlined to the Payment Services Directive, is likely to be offered in the upcoming months.

International Money Transfer Trends Revealed

Given the fact that the 21st century continues to become increasingly interconnected thanks to digital and internet-based technologies, it should come as no surprise that the rate of international money transfer has expanded in kind. The international money transfer industry has blossomed as both professional and personal use of these particular services has experienced healthy growth over the last decade.

That being said, very little attention has been devoted to developing a comprehensive survey of international transfer trends until now. Recently, researchers from Azimo, a popular money transfer service, compiled a series of data points and metrics related to the contemporary world of international money transfer for presentation at the upcoming World Money Transfer day. While some of the information presented will most likely be expected, readers may be surprised by particular snippets of data included in this survey.

Take, for example, the current trends amongst individuals between the ages of 18-34 when engaging the help of a money transfer organisation. Although this generation is commonly considered to be the most “plugged-in” in all of history, the majority of those polled stated that they would first approach a bank for their international money transfer needs before using an online service.

It was also discovered that 85% of those polled believed that anything higher than a 2.4% commission fee was “unfair”, sentiments that seem rather curious considering the fact that the vast majority of global corporations engaging in international money transfer currently charge between 8-10% commissions on all exchanges.

Perhaps a more expected observation could be the fact that the number of money transfer transactions requested through mobile devices in 2015 more than doubled over the previous year. This, of course, coincides directly with the rise in e-commerce and mobile web browsing that is fast replacing desktop computers and other bulkier devices.

Ultimately, curious individuals who are eager to learn more about the current state of international money transfer will likely find that this new report is truly comprehensive. Those who make it their business to stay abreast of international money transfer news would do well to peruse a copy at their earliest convenience.

How to save money on currency transfers

International money transfers are an essential element of daily living for a large number of foreign nationals and migrant workers living outside of their native country. In the United Kingdom, for example, there exists a sizeable population of individuals who have arrived here from a kaleidoscopic array of international destinations, ranging from Africa to Asia. These individuals regularly engage in international money transfers with friends and family abroad. That being said, these services can prove to be quite expensive for those who have yet to discover optimal methods for transferring currency at minimal cost.

Although banks are often considered a “go-to” resource for money transfers, these institutions are often guilty of charging lofty service fees on international currency deliveries. Because of this, individuals who are planning on scheduling international currency transfers on regular basis are strongly advised to seek out alternative opportunities to do so.

One of the more popular international money transfer services available to UK citizens is the Telegraph International Money Transfer Service, offered in collaboration with moneycorp. Thanks to affordable transfer rates and an outstanding reputation for service, the Telegraph International Money Transfer Service has quickly been elevated to start status amongst those who engage in international transfers regularly.

The amount of money spent on transfer fees and service charges related to international money transfer on an annual basis is staggering. The issue has become charged enough for accusations of predatory business practices to be levied against some institutions, particularly those who have been found to prey on otherwise unknowing migrants and foreign nationals.

Ultimately, those who are in the process of seeking out an international money transfer service for their next transaction are highly advised to spend the time needed to research all available options before committing to a specific service provider. The chances are good that,with a small amount of time, a more rewarding and cost-efficient offer can be found which will ensure that international money transfers remain beneficial to both sender and receiver. More information about the Telegraph International Money Transfer Service, as well as other affordable, highly successful international money transfer companies can be found on the websites of the companies in question.

12 Ways how mobile money can go further

As mobile phone coverage continues its inevitable crawl across the world’s continents, experts are largely in agreement that mobile payment platforms will soon become the de facto “bank” for individuals living in areas which are either underserved or have a historical precedent for shaky financial infrastructures.

That being said, mobile payment systems cannot simply be established over night. These programs require extensive development, planning, and, most importantly, strategization in order to ensure that the “next best thing” won’t be replaced when a newly minted payment platform jumps online.

After a series of conversations amongst tech innovators regarding what exactly should be happening in the world of mobile payment systems, 12 strategies emerged which all parties agreed are quite integral on the path towards seamless mobile integration. They are as follows:

Trust must be established, particularly in areas of the world where corruption and crime are rampant.
The need must exist. Not every individual in the world needs the service offered by an international money transfer service.
The real world is just as important. In the event of questions or conflicts, individuals must be able to speak with a real-world representative.
Education is everything. In order for these systems to flourish, individuals must first understand how to use them properly.
Every country is unique, and every country presents its own sets of challenges and opportunities.
Regulations limit progress, particular in situations where oversight is slowing the path of development.
Agents are essential, particularly when spreading the message about new services in less developed regions.
Financial services are only the beginning. Utilities and other resources may soon follow.
The customers needs must clearly be defined in order for a system to truly flourish.
Advertising and marketing remain critically important tools, regardless of where you are currently expanding your services to.
The sign-up process has to be incredibly easy.
Interoperations are a must, particularly in areas of the world that are culturally and ethnically diverse

With these ideas in mind, business owners seeking to expand their money transfer operations into new regions of the world may be able to find success at a faster rate than they would have previously.

Why Facebook has entered the money transfer market

For both casual and serious Facebook users, it’s common knowledge that this particular social media platform has a habit of changing design and user interface elements on a regular basis. Recently, Facebook launched one of the most significant evolutions of its platform to date – the introduction of a money transfer service which allows individuals to quickly send cash to one another at the touch of a button.

Experts have engaged in intense speculation as to what exactly Facebook’s motives may be. After all, money transfer has become a highly competitive domain which is already populated by industry heavyweights such as PayPal. Perhaps anticipating the statements that critics would be quick to make, Facebook has stated that their new transfer services are highly secure, featuring some of the most state-of-the-art encryption and security protocols in existence today.

Believe it or not, this is not Facebook’s first experience with online payments. The company has long provided users with the ability to store their credit card information on file in the event they wished to purchase a game or other “perk” within the social media platform. Essentially, the new money transfer system is simply an evolution of what already exists. Facebook is not alone in their attempt to secure a piece of the highly lucrative e-payment marketplace. Over the past year, Apple and Google have also launched their own payment systems which feature similar functionality and transfer-related features.

It remains to be seen as to whether or not this new system will make a serious impact on the current money transfer industry. Given the fact that Facebook remains one of the world’s most profitable and in-demand companies, it is likely that Facebook’s newest addition to their platform will be given the financial and technical support it needs to flourish. It’s also important to note that Facebook’s money transfer systems could also be quickly implemented into the WhatsApp platform, considering the former now owns the latter after a recent $22bn purchase.

Those who are interested in learning more about this particular development can read more on Facebook’s official website. It will be quite interesting to observe how this system develops in upcoming months.

Category: Money transfer