Mpos Tracker™ Report OCTOBER 2017

Total Page:16

File Type:pdf, Size:1020Kb

Mpos Tracker™ Report OCTOBER 2017 a mPOS Tracker™ report OCTOBER 2017 How Raise Is Giving Unwanted Gift Cards NEW VALUE The mobile app that finds happy homes Target ditches Apple Find the top providers in for unwanted gift cards for Android the latest Tracker Scorecard – page 5 (Feature Story)5 – page 8 (News and8 Trends) – page 16 16 mPOS Tracker™ © 2017 PYMNTS.com all rights reserved Table of Contents PAGE What’s Inside A look at the quickly evolving mPOS space and the latest news on new 03 internationally-minded merchant mPOS solutions. PAGE Feature Story Raise founder and CEO George Bousis on how the company is using a mobile 05 marketplace to get value out of unwanted gift cards. PAGE News and Trends 08 The latest headlines and trends from around the mPOS world. PAGE Top 25 Providers | Scorecard The results are in. See this month’s top scorers and a provider directory 15 featuring 291 major players in the space. PAGE About 159 Information on PYMNTS.com. mPOS Tracker™ © 2017 PYMNTS.com all rights reserved October 2017 | 2 What’s Inside mPOS technology developers and Meanwhile, payment terminal technology provider providers in the U.S. and abroad are iZettle made a pair of announcements regarding businesses outside of its native Sweden. The company increasingly turning more attention announced last month that it had reached an agreement toward non-American audiences with the European Investment Bank (EIB) to provide — and with good reason. nearly $36 million in funding over the next three years. The investment will fund the development of artificial According to several studies, the demand for mobile intelligence (AI) and machine learning technologies. wallets and other forms of mobile payment is simply greater outside the U.S. than within it. iZettle also announced it will expand its U.K. offering. The company debuted its iZettle Invoice feature, While American consumers have told researchers they designed to help businesses in the country issue invoices don’t see value in using the new smartphone-based and manage resulting cash flow, in its app for British payment methods, Europe has shown greater desire for merchants. mobile payments. In Poland, for example, a Mastercard study revealed that nearly two-thirds of Polish consumers Using a mobile app to turn dud gifts into cash are eager to use mobile payments more often than Americans are missing out on $1 billion in used gift cards they currently do. And, in the U.K., Tap and Go mobile each year. payments have recently seen a spike in usage. But what if someone’s gift card trash could become Over the past month, providers have debuted new tools someone else’s money-saving treasure – and give the and services to satisfy the growing appetite for mobile original recipient a chance to actually find some value in a payments abroad. gesture that was ultimately a swing and a miss? Here’s a quick snapshot of notable, recent mPOS That’s the idea behind Raise, according to its founder and news: CEO George Bousis. In a recent interview with PYMNTS, Mastercard is hoping to take advantage of Poland’s he said that in 2013, he debuted Raise as a mobile app hunger for more mobile payment acceptance among and eCommerce marketplace that allows consumers to customers. The company announced it will test a new buy and sell gift cards from each other. program in the country to enable small and medium-sized October Tracker updates businesses (SMBs) to accept cashless payments with only a Samsung smartphone and app. This issue of the mPOS Tracker features 291 global providers in the Scorecard and highlights notable players Similarly, mPOS technology provider Payworks is looking from around the space. Also, four companies have to build a business based on consumer desire for Tap been added this month to the ever-expanding provider and Go mobile payments in the United Kingdom. The directory: Octopus Retail Management, Payroc, Paymate company announced it is bringing its payment gateway and Unique Secure (US). platform to the U.K. in partnership with payment solutions provider First Data Merchant Services (FDMS). mPOS Tracker™ © 2017 PYMNTS.com all rights reserved October 2017 | 3 What’s Inside $4.21 Billion Projected value of worldwide mPOS market by the end of 2017 $35.55 51% Predicted growth of global mobile payment market through 2021 Percentage of surveyed Canadian consumers who will no longer use cash by 2020 Five Fast Facts5 17% Percentage of American consumers who regularly use their smartphones to pay 15% Percentage of U.K. retailers that report using a mobile inventory and sales system mPOS Tracker™ © 2017 PYMNTS.com all rights reserved October 2017 | 4 FEATURE STORY How Raise Is Giving Unwanted Gift Cards New Value any gift recipients have experienced the holiday That’s the idea behind Raise, according to founder and Mtradition of tearing the wrapping off a present CEO George Bousis. In a recent interview with PYMNTS, from a well-meaning family member, friend or co-worker Bousis said he debuted Raise as a mobile app and to find a gift card – one that he or she will never, ever eCommerce marketplace in 2013, all to help consumers use. It’s a tradition of which the recipient shall not buy and sell gift cards from each other. speaketh negatively — if he or she know what’s best for “In a lot of industries, there are hundreds of billions everyone involved. of dollars in [gift] cards sold every year, but much of it Thanks! Just what I never wanted and still, really, don’t… goes unspent, and [Raise] is designed to change that by giving cash to people who don’t want their gift cards,” After mustering the decency to thank the thoughtful he said. “The whole idea behind Raise is that it’s almost gift-giver, many of those unwanted gift cards go unspent, like newfound money [for sellers], or your money is more left abandoned in the back of wallets or at the bottom of valuable, because [buyers are] spending, say, $40 to get a junk drawers. But, what if someone’s gift card trash could $50 gift card.” become someone else’s money-saving treasure — and also give the original recipient a chance to actually find The mobile marketplace has since grown to include more some value in what was an otherwise dud gift? than 2 million gift card buyers and sellers, and boasts mPOS Tracker™ © 2017 PYMNTS.com all rights reserved October 2017 | 5 Feature Story more than $140 million in gift card value sold. And, as Bousis told PYMNTS, plans for more growth are currently in the works. UNDER THE HOOD Passing value from one consumer to another GEORGE BOUSIS of Raise on mobile wallets When Bousis was first building Raise, the idea was to find customers by offering both buyers and sellers a value At this point, American audiences haven’t exactly proposition to make them want to buy or sell an unused responded favorably to mobile wallet technology. But, gift card. according to recent research, mobile gift card marketplace Raise has one of the largest mobile wallet usage rates of “It ultimately comes down liquidity and options for the any company. In a recent interview with PYMNTS, George seller,” he said. “In many cases, 10 percent less dollar Bousis, founder and CEO of Raise, explained why and how value, but in cash rather than a store credit, is more the company has worked to accept and encourage mobile wallet payments. desirable for their situation[s]. For buyers, unlike using a coupon or cash back or loyalty points, where you have to “Somewhat surprisingly, we see a lot [of mobile use]. I spend just to get the deal, or only buy certain items that think a large part of that is because [we were] a mobile- qualify, you can just shop how you normally would, and first marketplace when we started, and that’s how the your money will be worth 10 or 15 or 20 percent more company still is today, so we have consumers who are more likely to be earlier adopters of that technology. with the gift card.” I think it’s also partly because typically people shop Consumers with value sitting on unused gift cards can list with Raise first. They spend money on a gift card and then they go use that gift card. They’re using it to them on Raise by uploading details about the card and shop on-the-go from anywhere, so sometimes it makes picking the price. Bousis explained that while the app more sense for them to use a mobile wallet, especially does allow sellers to set whatever price they see fit for because the transaction is already happening on a their cards, Raise offers them tips to help facilitate easy mobile device. transactions. By volume of transactions, we [are usually] in the upper That includes enabling sellers to personalize their goals 1 percent of Apple or Android or Samsung Pay, at this point. We’ve seen different statistics that report that for selling the gift card. Depending on the situation — — and we’ve pretty consistently ranked high there — whether a seller would rather recoup as close to the full which we’re really glad to see, because I think mobile store credit value in cash as possible, make sure the card wallet technology is something that can make our sells without worry or avoid having to wait a while for it customers’ lives easier and get them what they need to sell at all, among others — the app can recommend faster, and that’s really what we’re all about.” different pricing and discounting strategies, based on for how much, and when, other similar cards have sold.
Recommended publications
  • A Requiem for Sam's Bank
    Chicago-Kent Law Review Volume 83 Issue 2 Symposium: Rethinking Payments in Article 18 Law April 2008 A Requiem for Sam's Bank Ronald J. Mann Follow this and additional works at: https://scholarship.kentlaw.iit.edu/cklawreview Part of the Law Commons Recommended Citation Ronald J. Mann, A Requiem for Sam's Bank, 83 Chi.-Kent L. Rev. 953 (2008). Available at: https://scholarship.kentlaw.iit.edu/cklawreview/vol83/iss2/18 This Article is brought to you for free and open access by Scholarly Commons @ IIT Chicago-Kent College of Law. It has been accepted for inclusion in Chicago-Kent Law Review by an authorized editor of Scholarly Commons @ IIT Chicago-Kent College of Law. For more information, please contact [email protected], [email protected]. A REQUIEM FOR SAM'S BANK RONALD J. MANN* INTRODUCTION Wal-Mart's application to form a bank ignited controversy among dis- parate groups, ranging from union backers to realtors' groups to charitable organizations.' The dominant voices, though, were those of independent bankers complaining that the big-box retailer would drive them out of busi- ness. Wal-Mart denied any interest in competing with local banks by open- ing branches, 2 claiming that it was interested only in payments processing. Distrusting Wal-Mart, the independent bankers urged the Federal Deposit Insurance Corporation (FDIC) to deny Wal-Mart's request and lobbied state and federal lawmakers to block Wal-Mart's plans through legislation. Ultimately, Wal-Mart withdrew its application, concluding that it stood little chance of overcoming the opposition. The controversy dovetails with a banking regulatory concern about the existing system for supervising commercial firms that own non-traditional banks.
    [Show full text]
  • Banker" Redirects Here
    Bank From Wikipedia, the free encyclopedia Jump to: navigation, search For other uses, see Bank (disambiguation). "Banker" redirects here. For other uses, see Banker (disambiguation). "Bankers" redirects here. For the economics book, see The Bankers. This article has multiple issues. Please help improve it or discuss these issues on the talk page. • It needs additional references or sources for verification.Tagged since July 2008. • It may require general cleanup to meet Wikipedia's quality standards. Tagged since June 2010. Banking Types of banks Central bank Advising bank Commercial bank Community development bank Credit union Custodian bank Depository bank Export credit agency German public bank Investment bank Industrial bank Islamic banking Merchant bank Mutual bank Mutual savings bank National bank Offshore bank Private bank Savings and loan association Savings bank Swiss bank Universal bank Deposit accounts Savings account Transactional account Money market account Time deposit ATM card Debit card Credit card Electronic funds transfer Automated Clearing House Electronic bill payment Giro Wire transfer Banking terms Anonymous banking Automatic teller machine Loan Money creation Substitute check List of banks Finance series Financial market Financial market participants Corporate finance Personal finance Public finance Banks and Banking Financial regulation v·d·e Finance Financial markets [show] Bond market Stock market (equity market) Foreign exchange market Derivatives market Commodity market Money market Spot market (cash market)
    [Show full text]
  • Close Industrial Loan Company Loophole
    CLOSE INDUSTRIAL LOAN COMPANY LOOPHOLE INDUSTRIAL LOAN COMPANIES: “BANKS” In the age of big data, social media and e-commerce OWNED BY COMMERCIAL COMPANIES conglomerates, this threat is greater now than it was in Industrial loan companies (ILCs) are the functional the 1930s. We should be cautious before giving these equivalent of full-service banks. They engage in companies yet more reach into the economic life of commercial and consumer lending as well as deposit Americans by allowing them to leverage ownership taking and have access to the Federal Reserve of bank-like ILCs. The integration of technology and payments system. A loophole in the Bank Holding banking firms would not only result in an enormous Company Act allows commercial companies to own concentration of financial and technological assets but or acquire ILCs, subject only to approval by the FDIC. also would pose conflicts of interest in our banking Federal law prohibits all other full-service banks, system and privacy concerns for consumers. whether federal or state chartered, from being owned What will happen when social media giants extend their by commercial companies. reach into our financial lives? Access to Americans’ The ILC charter historically been limited and may be personal, financial data—monthly paycheck direct issued by only a handful of states, though it grants the deposits, account balances, expense patterns, political power to operate nationwide. Prior to 2020, the FDIC contributions, history of late fees, transaction records, had not approved deposit insurance for a new ILC for etc.—would create a whole new level of targeted more than 10 years.
    [Show full text]
  • Legislative Fiscal Bureau
    Fiscal Services Division Legislative Services Agency Fiscal Note SF 2030 - Automated Teller Machine Sales Tax Exemption (LSB 5028 XS) Analyst: Jeff Robinson (Phone: (515) 281-4614) ([email protected]) Fiscal Note Version - New Requested by Senator Pat Ward Description Senate File 2030 exempts service charges assessed by financial institutions from sales/use tax where the person being assessed the charge is a customer of the financial institution assessing the service charge. Service charges include point-of-sale purchases, automated teller machine (ATM) charges, and potentially any other service charge assessed to the customer. The Bill would take effect July 1, 2006. Background “Financial institution” is defined as a state or federal bank, credit union, savings and loan, industrial loan company, or any affiliate of one of those organizations. Under current law, service charges assessed by financial institutions against non-customers of that institution are exempt from State sales tax. This is generally limited to ATM charges assessed to persons using the ATM where the ATM is not owned by the customer’s bank. Any service charge assessed by a financial institution against a checking account of the institution’s own customer are currently subject to sales tax. This would include ATM transactions involving an ATM owned by the customer’s bank or charges for use of an ATM not owned by the customer’s bank. The same is true for point-of-sale fees, if any. Financial institutions also currently charge customers service fees for other checking account related actions, including fees to stop payments, card issuance/replacement, insufficient funds, certified checks, etc.
    [Show full text]
  • Rules and Regulations Federal Register Vol
    10703 Rules and Regulations Federal Register Vol. 86, No. 34 Tuesday, February 23, 2021 This section of the FEDERAL REGISTER Review Examiner, (508) 698–0361, nonmember banks,1 including industrial contains regulatory documents having general Extension 8027, [email protected]; Don banks and industrial loan companies applicability and legal effect, most of which Hamm, Special Advisor, (202) 898– (together, ‘‘industrial banks’’).2 In are keyed to and codified in the Code of 3528, [email protected]; Patricia granting deposit insurance, issuing a Federal Regulations, which is published under Colohan, Associate Director, Risk non-objection to a change in control, or 50 titles pursuant to 44 U.S.C. 1510. Management Examinations Branch, approving a merger, the FDIC must 3 The Code of Federal Regulations is sold by (202) 898–7283, [email protected], consider the factors listed in sections 6, the Superintendent of Documents. Division of Risk Management 7(j),4 and 18(c),5 respectively, of the Supervision. Federal Deposit Insurance Act (FDI Act). Congress expressly made all industrial FEDERAL DEPOSIT INSURANCE SUPPLEMENTARY INFORMATION: banks eligible for Federal deposit CORPORATION 6 Table of Contents insurance in 1982. As deposit insurer and as the appropriate Federal banking 12 CFR Part 354 I. Policy Objectives agency for industrial banks, the FDIC RIN 3064–AF31 II. Background supervises industrial banks. A key part A. History of its supervision is evaluating and Parent Companies of Industrial Banks B. Industrial Bank Exclusion Under the mitigating the risks arising from the and Industrial Loan Companies BHCA activities of the control parties and C. Industry Profile owners of insured industrial banks to AGENCY: Federal Deposit Insurance D.
    [Show full text]
  • FR 2052A Complex Institution Liquidity Monitoring Report OMB Number 7100-0361 Approval Expires March 31, 2022
    FR 2052a Complex Institution Liquidity Monitoring Report OMB Number 7100-0361 Approval expires March 31, 2022 Public reporting burden for this information collection is estimated to average 120 hours per response for monthly filers and 220 hours per response for daily filers, including time to gather and maintain data in the required form and to review instructions and complete the information collection. Comments regarding this burden estimate or any other aspect of this information collection, including suggestions for reducing the burden, may be sent to Secretary, Board of Governors of the Federal Reserve System, 20th and C Streets, NW, Washington, DC 20551, and to the Office of Management and Budget, Paperwork Reduction Project (7100-0361), Washington, DC 20503. FR 2052a Instructions GENERAL INSTRUCTIONS Purpose The FR 2052a report collects data elements that will enable the Federal Reserve to assess the liquidity profile of reporting firms. FR 2052a data will be shared with the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation to monitor compliance with the LCR Rule. Confidentiality The data collected on the FR 2052a report receives confidential treatment. Information for which confidential treatment is provided may subsequently be released in accordance with the terms of 12 CFR 261.16 or as otherwise provided by law. Information that has been shared with the OCC or the FDIC may be released in accordance with the terms of 12 CFR 260.20(g). LCR Rule For purposes of these instructions, the LCR Rule means 12 CFR part 50 for national banks and Federal savings associations, Regulation WW or 12 CFR part 249 for Board‐regulated institutions, and 12 CFR part 329 for the FDIC‐supervised institutions.
    [Show full text]
  • Fintech Industrial Banks and Beyond: How Banking Innovations Affect the Federal Safety Net
    FINTECH INDUSTRIAL BANKS AND BEYOND: HOW BANKING INNOVATIONS AFFECT THE FEDERAL SAFETY NET Cinar Oney* ABSTRACT The FinTech industry has been utilizing technological innovations to provide services traditionally offered by the banking and financial industry. Until now, many FinTech firms engaging in these activities had non-bank state licenses. The uncertainties surrounding their current business models and the desire to expand the operations led some of these firms to apply for industrial bank charters. An industrial bank charter is one of the few ways for a commercial firm to control a depository institution and allows FinTech firms to retain their technological investments that are not directly related to banking. However, access of these industrial banks to the federal insurance, payment services, and the discount window raise some concerns. It is claimed that the parent companies of these banks might gain an unfair advantage over their competitors, misguide their creditors, or limit their liabilities by benefitting from the federal subsidies given to the banking industry. This Note analyzes these claims and proposes two alternatives—credit card banks and state bank subsidiaries—for the FinTech firms seeking to engage in the business of banking. Particularly, engaging in non-bank activities through bank subsidiaries could eliminate some of the persistent moral hazard problems that the industrial bank model might entail. Although the industrial bank activities would not pose a significant risk to the federal safety net, these alternatives to the industrial banks could be preferable for sustaining the development of the FinTech industry as well as maintaining a safe and sound banking system.
    [Show full text]
  • INDUSTRIAL LOAN COMPANIES: CLOSING the LOOPHOLE to AVERT CONSUMER and SYSTEMIC HARM March 2019
    ILC INDUSTRIAL LOAN COMPANIES: CLOSING THE LOOPHOLE TO AVERT CONSUMER AND SYSTEMIC HARM March 2019 www.icba.org TABLE OF CONTENTS Executive Summary and Introduction ......................................................................3 Part I: Preserve the Separation of Banking and Commerce ..............................5 What is an ILC? ...................................................................................................................5 Why separate banking and commerce........................................................................6 The Bank Holding Company Act ...................................................................................7 Amendments to the BHCA: Reaffirming the separation of banking and commerce ............................................................................................................................8 Part II: Regulatory “Blind Spots”: The ILC Loophole Is a Threat to Safety and Soundness ...............................................................................................................10 Consolidated supervision .............................................................................................10 ILC holding companies not subject to consolidated supervision .......................10 Holding company source of strength doctrine is of limited value without consolidated supervision of commercial parent companies ................................ 11 Risk to the federal safety net .......................................................................................12
    [Show full text]
  • June 30, 2020 Via Electronic Mail Robert E
    June 30, 2020 Via Electronic Mail Robert E. Feldman Executive Secretary Attention: Comments Federal Deposit Insurance Corporation 550 17th Street NW Washington, DC 20429 Re: Parent Companies of Industrial Banks and Industrial Loan Companies (Docket ID RIN 3064-AF31) Ladies and Gentlemen: The Bank Policy Institute (“BPI”)1 appreciates the opportunity to comment on the proposal by the Federal Deposit Insurance Corporation (the “FDIC”) relating to the parent companies of industrial banks and industrial loan companies (the “Proposal”).2 ILCs introduce unique risks to the banking system and the Deposit Insurance Fund because their parent companies are not required, due to a statutory loophole in the Bank Holding Company Act (the “BHCA”), to be subject to the same consolidated federal supervision and regulation framework or activity restrictions as bank holding companies and savings and loan holding companies,3 even though ILCs offer banking products and services that are functionally indistinguishable from those offered by commercial banks. This statutory loophole allows these ILC parent companies to engage in commercial activities with few regulatory safeguards and only limited supervisory oversight.4 That being said, it is important to note that these concerns do not apply to an ILC 1 The Bank Policy Institute is a nonpartisan public policy, research and advocacy group, representing the nation’s leading banks and their customers. Our members include universal banks, regional banks, and the major foreign banks doing business in the United States. Collectively, they employ almost 2 million Americans, make nearly half of the nation’s small business loans, and are an engine for financial innovation and economic growth.
    [Show full text]
  • Title 7. Financial Institutions Act Chapter 1 General Provisions Part
    Utah Code Title 7. Financial Institutions Act Chapter 1 General Provisions Part 1 Citation, Purposes, Definitions, and Application 7-1-101 Title. This title is known as the "Financial Institutions Act." Amended by Chapter 200, 1994 General Session 7-1-102 Legislative findings, purpose, and intent. (1) The Legislature finds it is in the interest of the citizens of this state, and is the purpose of this title, to: (a) supervise, regulate, and examine persons, firms, corporations, associations, and other business entities furnishing depository, lending, and associated financial services in this state; (b) protect the interests of shareholders, members, depositors, and other customers of financial institutions operating in this state; (c) preserve the competitive equality of state chartered institutions as compared to federally chartered institutions, and of Utah depository institutions as compared to out-of-state and foreign depository institutions; (d) promote the availability, efficiency, and profitability of financial services in the communities of this state; (e) preserve the advantages of the dual banking system; (f) cooperate with federal regulators and regulators from other states in regulating financial institutions, in improving the quality of regulation, and in promoting the interests of this state in interstate matters; and (g) provide to the Commissioner of Financial Institutions sufficient powers and responsibilities to carry out these purposes. (2) It is the intent of the Legislature that the provisions of this title be interpreted to promote these purposes. Repealed and Re-enacted by Chapter 49, 1995 General Session 7-1-103 Definitions. As used in this title: (1) (a) "Bank" means a person authorized under the laws of this state, another state, or the United States to accept deposits from the public.
    [Show full text]
  • Regulation of Industrial Bank Parent Companies
    December 29, 2020 Regulation of Industrial Bank Parent Companies FDIC Adopts Final Rule Requiring Certain Conditions and Commitments for Insured Industrial Banks or Industrial Loan Companies With Parents That are not Subject to Regulation by the Federal Reserve Board SUMMARY On December 15, 2020, the Federal Deposit Insurance Corporation (the “FDIC”) approved a final rule (the “Final Rule”)1 governing parent companies of industrial banks and industrial loan companies (collectively, “industrial banks”),2 largely adopting the proposed rule issued in March 2020.3 The Final Rule is intended to “codify existing practices utilized by the FDIC to supervise industrial banks and their parent companies,”4 “ensure the safe and sound operation” of industrial banks,5 and provide “necessary transparency” regarding the FDIC’s supervisory practices.6 The Final Rule requires a company that is not subject to consolidated supervision by the Board of Governors of the Federal Reserve System (the “Federal Reserve”) and that controls an industrial bank as a result of a change in bank control, merger, or de novo process (such company, a “Covered Company”), to enter into one or more written agreements with the FDIC and its industrial bank subsidiary. These written agreements must include certain commitments intended to protect the safety and soundness of the industrial bank and provide the FDIC with information similar to that which would be provided if the Covered Company were subject to consolidated supervision by the Federal Reserve. The Final Rule is largely consistent with the proposed rule, but makes four substantive changes: The threshold regarding the limitation of a Covered Company’s representation on the board of a subsidiary industrial bank has been raised from 25 percent to less than 50 percent.
    [Show full text]
  • The Academy of Economic Studies of Moldova
    ACADEMY OF ECONOMIC STUDIES OF MOLDOVA DEPARTMENT OF APPLIED MODERN LANGUAGES A.TALPĂ, A. ZUBIC BANKING SYSTEM (Essence and Particularities) Editura ASEM Chişinău – 2005 CZU 336.7(076.5)=111 T 14 Lucrarea a fost examinată şi recomandată pentru editare la şedinţele catedrelor „Bănci şi Burse de valori” (proces-verbal nr. 5 din 10.01.05), „Limbi moderne aplicate” (proces-verbal nr. 6 din 04.04.05) şi Comisiei metodice a facultăţii „Finanţe” (proces-verbal nr. 5 din 21.04.05) Referenţi: conf. univ. dr. E. Ruga, conf. inter. dr. A. Rotaru Descrierea CIP a Camerei Naţionale a Cărţii Talpă, A. Banking System: (Essence and Particularities) / A.Talpă, A. Zubic; Acad. of Econ. Studies of Moldova. Dep. of Applied Modern Languajes. – Ch.: Dep. Ed.- Poligr. al ASEM, 2005. – 79 p. Bibliogr. p. 73-74 (28 tit.) ISBN 9975-75-308-6 100 ex. 336.7(076.5)=111 A.Talpă, A. Zubic ISBN 9975-75-308-6 © Departamentul Editorial-Poligrafic ASEM 1 CONTENTS INTRODUCTION 1. THE CONCEPT OF BANKING SYSTEM 2. THE HISTORY OF THE BANKING SYSTEM IN THE REPUBLIC OF MOLDOVA 3. THE STRUCTURE OF MODERN BANKING SYSTEMS 4. THE NATIONAL BANK OF MOLDOVA – THE CENTRAL BANK OF THE STATE 5. THE BANK OF ENGLAND 6. THE PRINCIPLES OF BANKING OPERATIONS 7. PASSIVE OPERATIONS OF COMMERCIAL BANKS AND BANK LIABILITIES MANAGEMENT 8. ACTIVE OPERATIONS OF COMMERCIAL BANKS AND BANK ASSETS MANAGEMENT 9. BANKING BEHAVIOUR 10. THE CHARACTERISTICS OF COMMERCIAL BANKS OPERATIONS 11. CONCLUSION 12. GLOSSARY 13. TEST YOUR KNOWLEDGE 14. BIBLIOGRAPHY 15. ENCLOSURES 2 INTRODUCTION The market economy requires the constitution of a sound banking system that would provide its citizens with new payment ways and modern technologies.
    [Show full text]