Community Q&A
Questions
3,063 questions answered by experts in payments, banking, and financial services.
How do so many Pakistanis have PayPal accounts if PayPal doesn’t operate in Pakistan?
How and where can I network with companies that rent or lease money-transmitter licenses?
How hard is it to correct a mistaken transaction at a Pakistani bank?
What could be the implications if Microsoft applied for MSB (Money Services Business) status?
Why haven’t Asia-based online remittance startups like TransferWise become prominent?
Which payment processors can a SaaS startup in Thailand use?
Why do acquiring banks for card processing avoid serving money-transfer and remittance businesses, and which acquirers do work with companies like Remitly and WorldRemit?
How long should someone wait between transferring two $10,000 amounts to the U.S. to avoid reporting issues?
What are effective ways to accept credit-card payments when customers manually enter their card numbers?
Is there a difference between a mobile wallet and a digital wallet?
Who invented the ATM, and in what way?
If we charge customers’ credit cards worldwide and then wire funds to other users (minus a service fee) like Airbnb, do we need money-transfer licenses (MSB/MST) in the U.S. or Europe?
How can I build a basic online banking system from scratch?
Which regions of the world are underserved yet rapidly expanding their online presence?
What systems do banks typically use to maintain and reconcile customer accounts?
How did banks send funds to other banks before the telegraph was introduced around 1832?
If you could redesign SWIFT today, what would you change and how would you build it?
How costly is it to transfer money from Europe to the United States?
Are there any “startup banks” today?
How do you develop an app that connects directly to users’ checking and savings accounts?
How can I legally build a multi-currency NS/RTGS system based on banks’ current accounts?
What is PayPal’s main purpose or core function?
Does PayPal allow payments for travel-related products?
Is it safe to send credit card details by email?
I have been scammed out of money online—how can I make the other party repay me?
Are there technology startups operating in Pakistan?
Which countries are largely card-only where you can pay almost everywhere with a credit card?
What are the biggest fintech challenges in New York City, and what would help companies address them?
How do banks move money between themselves?
Are all U.S. dollar transactions routed through the United States?
What are some promising startup ideas that can be launched in developing countries today?
Has Nick Szabo responded to the LikeInAMirror blog post claiming he might be Satoshi Nakamoto?
What major factual mistakes has Noam Chomsky allegedly made?
Where can I learn the fundamentals of Bitcoin?
What is the most effective way for an India-registered company to accept card payments from the U.S.?
How does the hawala system for moving money actually work?
Do any banks conduct direct sales by phone, and if so, how do they verify an existing customer’s identity?
What do you read each week to stay informed about virtual currencies?
What is the difference between a digital wallet and a shopping cart in how payments are initiated and processed?
In your view, is internet banking the best way to manage banking needs?
If a wire transfer sent to my account is recalled by the sender, can the funds be pulled back without my consent?
What are the differences between ACH, SEPA, and RTGS payment systems?
In the U.S., how can a non-resident non-citizen open a bank account online?
How does Xoom authorize payments from a sender’s bank account?
What happens if a government or billionaire buys and holds 90% of litecoins, artificially reducing supply?
Who are the leading global thought leaders in payments?
What are the pros and cons of an EU member state building a national debit-card payment scheme?
How do large banks and financial institutions benefit from participating in microfinance?
What additional infrastructure is needed to boost real-world acceptance of cryptocurrencies?
Are online payment services regulated by governments and financial authorities?
Is PCI compliance still required if a system uses tokenization?
In simple terms, why do banks maintain nostro accounts with other banks?
Which banks received emergency loans from the Federal Reserve during the financial crisis?
From a payments perspective, what challenges do multinational companies face when paying for employees’ travel or corporate expenses abroad?
How does a weak rupee against the U.S. dollar impact the Indian economy?
Are paperless checks as insecure as they appear?
Why do banks charge monthly account fees?
After exchanging currency on CurrencyFair, how can you access your funds?
How do offshore bank accounts function?
If money moves electronically between bank accounts, how is physical cash “settled” or accounted for?
Are there risks that France might retaliate against U.S. banks operating there after the large fine imposed on BNP?
Why did Visa advertise during the 2014 World Cup final when most people choose cards based on factors other than the network brand?
How difficult is it to legally transfer $800,000 (or any large amount over $100,000) from Pakistan to another country such as Australia, and what is the process?
What types of organizations are authorized to issue credit cards?
Do we actually need cents anymore, and why not price everything purely in whole dollars?
How disruptive could Facebook be in the payments industry?
Will Facebook ever introduce a PayPal-like service?
What is the best way to ensure international clients pay on time?
How do you connect a website with a payment system?
Was Liberty Reserve’s shutdown an attempt by the U.S. to control digital or e-currencies, and how severely did it impact Bitcoin?
Do banks hire consultants to help review and process loan applications?
Which Basel Accord requirements must be reflected in Philippine banking regulations?
What features would persuade you to use a new alternative or mobile payment system from Apple, Facebook, or Google?
What security advantage is gained when a bank mails your credit card separately from the letter containing your PIN—couldn’t a thief just steal both anyway?
Who are some of the top lawyers and law firms specializing in money-transmitter licensing for both startups and established companies?
Can peer-to-peer payment platforms transfer money across state lines without obtaining money-transfer licenses?
Can an individual legally create their own currency?
Mobile Commerce: What is the smoothest way to redeem coupons without relying on a POS device?
What were the early phone-based credit card readers before Square?
Why haven’t banks implemented fingerprint identity checks at point-of-sale terminals?
How much could PayPal earn from interest on funds stored in user accounts?
What are the major challenges and emerging trends in international payment systems?
How does a remittance agent make money when send and receive amounts differ? For example, sending AUD 1,000 to the US from Australia, and when $100,000 USD is sent from US to Australia?
Why does the banking sector require regulation?
For web-based payment processors, what key pieces are still missing in today’s payments infrastructure?
Can TransferWise’s P2P matching model work only in two-way corridors, or can it also work in one-way remittance corridors from developed to developing countries?
In what ways have banks lobbied to reduce or remove financial education from public school curricula?
Economics: At what oil price level would Saudi Arabia be forced to respond to falling crude prices?
Can Bitcoin exchanges trade on their own platforms and gain an unfair advantage over normal users?
What is the usual process for closing a bank account in Pakistan?
How do Chinese exporters handle customs, taxes, and related costs when shipping goods to the U.S., and how much do these add to prices?
What is the lowest-cost way to transfer money between countries?
How can I buy Bitcoin while living in Canada?
Why do Bitcoin exchanges show so many very small BTC trades?
How do you obtain ISO status through a bank relationship?
How do international bank-to-bank transfers function end to end?
As of February 2015, had Visa officially rolled out its P2PE solution?
Which Bitcoin startups in 2015 were considered the most exciting and genuinely innovative?
How does ACH work in practice, how are payments processed, and how does ACH differ from RTGS and other local payment switches?
How does Dwolla generate revenue when its fees are close to zero?