Payments Consulting for Fintech Startups and Banks
@Kalle Raus Licensing is the sad reality of today and I am afraid it is not going away anytime soon.
2 weeks, 5 days ago on The Great Money Transfer Gold Rush
@teethmaestro Quora provides immense value. Sadly, everyone I have recommended Quora to, have shown limited enthusiasm and then their interests wane off. If one is consistent, there is a world of a difference Quora can make in your life.
2 weeks, 6 days ago on Quora. You don’t park it. You position it.
@knowme Not sure what you mean. Can you perhaps be a little MORE cryptic?
3 weeks, 6 days ago on Murder on Chundrigar Road: How SBP killed the payments/fintech startup industry.
@A Khan Thank you for your comment and it is genuinely nice to see someone who understands the landscape well. What SBP should have done is taken a singular model, lets say the Money Transmission Rules from State of Texas or Georgia and worked on that. These rules do not allow an Agent (or Sub-Licensee concept), the concept of an Authorized Delegate, the Disclosures are missing, the Consumer Protection elements are missing, slab pricing is missing, the fact if money is not being touch by the fintech, then why be licensed?
The question about the number of licenses is one that has been raised by a lot many quarters, so you are spot on in asking that! How many will be issued?
1 month ago on How State Bank of Pakistan just killed the Payments & Fintech Startup Industry of Pakistan.
@Baqar Abbas Jafri Well essentially what this says is if you are a 3rd party service provider, you need to be licensed. So if you are a Payments Aggregator or as the industry calls it a Payments Facilitator (PF), you’d have to be licensed. All marketplaces would need to be licensed, as they are PSPs essentially.
@ysfjwd Not my job to comment on that. What needs to be done is that SBP should revisit and readdress the issue of minimum paid up capital.
@xeero07 No. I am not sharing my back-channel communication with PayPal. It was done so in confidence.
8 months, 2 weeks ago on PayPal in Pakistan
@KAR Again, absolutely incorrect information. I would refrain from posting anything of which you do not have first-hand, authentic / prior information of please.
1 year, 10 months ago on An Open Letter to David Marcus, President @ PayPal.
@Amin Lalani What stops you from going ahead and making one?
@m8rp7m3p1 Yes Banks (local) are not an issue. The purchasing arrangement within the PayPal ecosystem has nothing to do with the local banks and what they charge for transfer fees. Fraud transactions protection for transactions made on the Internet (by Pakistani Banks) have no corrélation for PayPal to enter Pakistani market.
@Amin Lalani So let me amplify that argument: So here is the answer to your question. There are people (read: organisations and start-ups working with the financial sector) who "are" working on a localised (Pakistan only) payment systems. It is high-time a localised payment system was put into play, enabling P2P payments on the digital front. It would be fair to say, such a payment system would be rolled out sometime in 2013. This would be both a payment gateway for online transactions as well as P2P payments, tied to your favourite payment instrument of choice (can be ATM card, credit/debit card, POS Loading, etc.). However, having said that, the traction, market size and eco-system of everything connected to PayPal cannot be match by anyone at present. PayPal is a giant when it comes to trusted P2P system. Its like Gmail being offered in every country, except Pakistan. How would you feel? Pretty bad right? Well Gmail might not be a strong enough example per se, but imagine if Google search was everywhere but Pakistan, that would annoy you? Now would you want to develop you own global search engine or expect Google to come here? I would hope the latter. Besides EVEN IF you did make a payment system, how will that help you when it comes to others, outside Pakistan. Will they adopt "your" payment system to pay you? Of course not. Will your system become so strong that it will be adopted by millions worldwide? Probable, but probably not going to happen in this lifetime (there are other more stronger P2P payment candidates out there). There is nothing stopping us for hatching a homegrown payment system. The two issues should NOT be confused. My main goal is to have PayPal and Paypal specific by name and service here in Pakistan. That is what the effort is all about and in as such, this effort and that of any other payment system should not be mixed and moulded into a single effort. AliPay is HUGE, with over 500+ Million registered users, except that most have not heard of it - AliPay is a P2P payment system like PayPal and operates out of China. They are a serious competitor to PayPal but have not been able to dislodge the trust, the brand and the eco-system of PayPal. Put any person in front of a white board for a couple fo hours and they will hash out a payment system. Brand recognition, traction, eco-system, partners, users, availability, etc. are things that make a payment system successful. For the past 12 years, no one has been able to seriously dent PayPal's dominance in the P2P market.
@AhmedJabran Ahmed I agree with everything you say, but equally there is a rebuttal argument for anything against PayPal in Pakistan. A lot of people have joined this effort, within and outside Paypal. Hopefully, some movement will happen.
@Alig2x That is not correct. I know that courier company issue is not the issue at hand here.
@TahirQureshi Tahir - well lets make them care. As long as it takes and the effort that goes with it. Lets do something about it and just not give up!
@MuhammadUmair So here is the answer to your question. Their are people (read: organisations) who are working on a localised (Pakistan only) payment system. It is high-time a localised payment system was put into play, enabling P2P payments on the digital front. It would be fair to say, such a payment system would be rolled out sometime in 2013. This would be both a payment gateway for online transactions as well as P2P payments, tied to your favorite payment instrument of choice (can be ATM, credit/debit card, etc.).
However, having said that, the traction, market size and eco-system of everything connected to PayPal cannot be match by anyone at present. Its like Gmail being offered in every country, except Pakistan. How would you feel? Pretty bad right? Well Gmail might not be a worthy example per se, but imagine if Google search was everywhere but Pakistan, that would annoy you? Now would you want to develop you own global search engine or expect Google to come here?
There is nothing stopping us for hatching a homegrown payment system. The two issues should not be confused. My main goal is to have PayPal and Paypal specific by name here in Pakistan. That is what the effort is all about.
@szuberi Exactly. Its conniving not to know!
@UmairNayyarKhan It is not my purview to speculate on what tools/analysis PayPal uses to enter a market or not. I am sure if probed, Rwanda and Somalia's PEST would be worse off than Pakistan. FYI: PayPal does not operate in Bangladesh either, I am sure the reasons differ.
@KarimJaved This is ABSOLUTELY incorrect information. SBP has actually informally been probing and building up a case, to "enable" PayPal to work in Pakistan. SBP is NOT the hinderance here. In fact, there is no hinderance from a technology, connectivity, regulatory or even a legal/compliance angle. There is no responsibly that SBP has to take. SBP is a regulator. It works with banks and regulates them.
@Muhammad Omer Because I have a common friend, who is doing the intro. The same has been emailed to Mr. Marcus as well. I am very confident, he will read it.
@OsamaRasheed Whilst I respect your views on the given subject, the issue is not of begging them (as I see it). If there is genuinely holding PayPal back, then it becomes our fiduciary (if you will as a citizen) to have this resolved. The goal is to enable greater PayPal access for Pakistan, as opposed to circumventing the process.
@jfatehi Hmm Term limits is something certainly interesting. Actually the Constitution of Pakistan makes a detailed case on the factors and requirements on holding the office of the President of Pakistan. Perhaps we should use the same to extend to other branches of Government.
Personally I think, a new Constitution is needed.
1 year, 10 months ago on 25 Points for a Prosperous Pakistan (Revised)
@drawab square itself is not coming to PK, a competitor is here. Email me directly if you want to sign-up - will get a kit out to you.
3 years, 1 month ago on How will the mobile payment space shape in the years to come...
@drawab Keep a watch out, its coming to Pakistan... very soon. Trial already happening, however, I will not disclose publicly.
found a pre-compiled version - works great. just tried it - http://gimp.lisanet.de/Website/Download.html
3 years, 1 month ago on How to Download and Install GIMP on your Computer
Is GIMP install on the Mac native? or it is a hack?
@drawab I had no say in that unfortunately! :)
3 years, 4 months ago on Babushka99
@zulfishah @iFaqeer Well said. No need to doubt your credentials or motives. I am sure if a campaign it put in long enough from 'all' quarters, some good will come out of it. I don't make a half-empty statement here. I have communicated with some people from PayPal, others who have talked to them and many more countless people associated in this. We definitely have country risk issue which we need to take care of.
3 years, 4 months ago on Why doesn’t PayPal offer its services in Pakistan?
@ImranHussain @jawwad EasyPaisa is a great success story, no doubt. But it is still a localized payment solution. The need is to tap into the 'PayPal" ecosystem to which we are not connected to, and I for one feel alienated that its one party bloc to which we have no access to.
@aamir7 So let me elaborate on some of the points you have mentioned:
For starters, Western Union or MoneyGram are inherently very different money systems. They are P2P but regulated under the MTS (Money Transfer Service) with physical In and Out transactions - this means, you physically have to go to WU/MG store with cash or charge it and the beneficiary physically has to go to a WU/MG store to retrieve it.
PayPal's financial holding model is slightly different. They either hold the funds for you in Escrow or direct deposit into your Bank Account. All this is technical in nature and can easily be done via the two ATM switches we have in Pakistan (1Link and MNet). An IBFT (Interbank Funds Transfer) mechanism is already running on it. SO if PayPal would have some form of an escrow account in PK, then their system can simply do an IBFT and the money would be electronically deposited into your bank account.
I write all this to tell, that the technical portion is not the issue. The regulatory framework may need to be modified, butt that's about it.
Pakistan is a whole lot better of than many many countries. We definitely have an image issue and we need to have our Government, politicians, the Ambassador to the US, and others work to on this 'country risk' issue.
I received an email from someone in PayPal, who is senior enough, and it was sent via his personal email, and he summed it up best:
"Asking PayPal to come here to Pakistan, is like asking an American to visit, who doesn't want to for fear of lot many things, you cannot force him to visit your country if you have security problems. Why should he if there are so many other destinations to choose from?
Make it attractive enough for him to visit and he will - but you cannot force him, even if he has visited all the countries of the world except a few. Have patience in due time it will happen, I appreciate your efforts."
@zulfishah I almost feel vindicated by your reply. When I cited country risk, I meant all sorts and the predominant risk is terrorist financing.
Is this install-How-To valid only for a netbook or will it work on a old laptop as well?
3 years, 4 months ago on How To Install Chromium OS on a Netbook
@AlorsEtToi The person who opened "www.screwpaypal.com" was a very respected Seller on eBay until one day PayPal screwed the person over. I personally know of so many examples where PayPal is sitting over money (which add up to Millions of US$) that cannot be claimed etc. by their rightful users and becomes PayPal's personal money bank on which they earn an interest.
3 years, 4 months ago on Legal Letter from eBay/PayPal – on PayPal Alternatives
@RababKhan Try to reduce disk read/write activity. When you are recording, the only disk activity you want done is that of the webcam software. Any additional disk activity can cause jerks, etc. and out-of-sync voice in your video. Hence, close all unnecessary apps so that the maximum read/write can be for your web-cam' software. The USB Flash drive is because it is inherently faster.
3 years, 4 months ago on Useful Tips and Tricks with a WebCam
Nice article. Here are a few more helpful tips:
1. For great setups, learn the 3-point lighting system, the key light, the fil light and the back light concept. Very easy to rig and the different is remarkable. With more and more webcams having the ability to record in HD (720p and some even in 1080p), lighting becomes a very essential component of the web-cam setup.
You can YouTube or Google for "3 point lighting" and you will see 1000s of examples on how to go about it.
2. White-Balance. Many webcam users do not white-balance their cams. Almost all the web-cam softwares allow you to do this. White-balancing is done so that white (is well white) and you don't look like you've got a bad case of jaundice. Same thing, Google for how to White-Balance and you will get 100s of results. You may also want to check the make of your camera and see fi there are any instructions on how to white-balance.
3. A very important aspect when doing webcam recording, is to ensure all ancillary programs/apps are OFF, so as to reduce the disk activity of other programs to minimum. You want to try to dedicate as much disk space as you can to the webcam application. A little trick is to perhaps slot in an external USB Flash drive and save your video on it.
@mediasres @jpJeremy Thank you for the your input. I value it very much. I have seen from my personal experience and teaching, folks who are starting out on IM, do so much work, but don't concentrate on getting traffic, which kind of deflates their who momentum. Hence, I usually insist, that traffic is very important. The more traffic they get (especially targeted), the more the probability of a sale. You can have the best product/service - but it is going to do you no good if you don't have visitors to your website.
3 years, 4 months ago on Internet Marketing for Beginners: Understanding Traffic & Visitors
@jpJeremy You've pretty much hit the nail on its head there. Pick something and then get started with it!
3 years, 5 months ago on Internet Marketing for Beginners: Understanding Traffic & Visitors
@jpJeremy You have a very valid point that you bring up. You are correct, the above, would be seemingly accurate for low traffic website. Just like Newtonian physics, and Quantum physics, things change when size comes into consideration, the same holds true here. For high-traffic websites, there is so much to look at, even from the perspective of a visitor. But for people starting out, this is a great resource (if you allow me to say so) - wouldn't you agree?
@MattieTK Thanks - will check it out. I think we are convinced, we should do an editorial on Livefyre - what do you think @RababKhan ?
3 years, 5 months ago on The Apple, The iCloud and The Enterprise
@MattieTK Oh THANK God someone else finds the native Apple "Finder" horrible!
Will download Alfred rightaway!~ Got a goot PuTTy alternative? other than iTerm/iTerm2?
I shall name my future kittens after you!
Hi @MattieTK First of all thank you for taking time out and posting a comment here. Am totally loving livefrye - after having been recommended by @rababkhan
Sadly, I cannot answer/comment much to your Apple comment, as I just and by 'just' I mean less than 30 days, converted to the Mac from the PC/Linux platform. I'm still discovering where the darn notebook editor is and what blasphemy I am committing by attaching a Microsoft keyboard/mouse to my iMac (I cant type on that Apple keyboard or use that mouse).
Coming from a "Dropbox" client, I am only now truly discovering what true potential the cloud has and how it will honestly benefit us all. Not to sure if how Apple's cloud will affect me at present, but I am sure either I will love it or hate it.
The end difference might be just that I might continue to use the Mac or switch back! :)
Rabab as I said.... never share your password with friends. Remember you are legally liable for whatever happens with your ID.
3 years, 5 months ago on When LulzSec Hacked My Email