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Friday, December 4, 2015

Banks ATM card to shift to EMV earlier than 2017 from current magnetic strips

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Rizal Philippines
December 4, 2015

From Foursquare FAQ on EMV

                                              Contact EMV card reader

Local banks Credit card companies and merchants have been urged to shift to EMV (Europay, Mastercard and Visa) technology by 2017 by the Central Banks.  But many banks are seen to shift earlier because of the liability shift.  The liability for fraudulent transactions for not using EMV shifts from the bank to the merchant..  The magnetic strip is subject to skimming and other CC/Card fraud

CB has urged local banks to shift to EMV as early as 2014

This is needed in US where half of fraudulent transaction take place.  They shifted in October to EMV.  With the US shifting to EMV, cant the Philippines be far behind.?

The EMV cards have chips and need to be inserted in the card reader.   The Citibank card I have is EMV; The  Metrobank card is still not EMV.

                                          Contactless (proximity reader)

Tuesday, August 25, 2015

Yesterday, now known as Black Monday, equity markets have lost $5 trillion since yuan devaluation

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August 25 2015

From IBM times - 5 tillion lost since Yuan's devaluation

Yesterday, August 24, 2015 is now known as Black Monday.  Dow Jones and China capital markets were marked by massive sell off.  PSE yesterday lost about 6 % and its index slid below 7,000.  The market value that was wiped out was P764 billion.

That is nothing compared to what was lost world wide -  $5 trillion since August 11, 2015 when yuan devalued.  The event is now known as China fall-  Chinas output has declined, it magical economic engine is slowing down.  Demand for raw materials worldwide from its ldc supplier will decline and will cause severe economic down turn in those countries

The fall is so devastating that Apple lost $150 billion of its market value last Friday

PSE loses P764 billion in market value in a single day yesterday

Ad Majorem.....Wealth Builders

August 25, 2015

The China's woes, (stock market bubble burst) the devaluation of yuan, falling outputs and growth (their stock market fell by 8% last Friday alone not counting the $1 trillion loss since June 15) has spooked Dow Jones (it fell by 1,000 points yesterday) and Asian markets.  Our very own PSE lost P764 billion yesterday wiping out 2015 gains.

From Inquirer, PSE slides down below 7,000

PSE lost 6.7 % or 487.97 points, to close at 6791, its largest loss in a single day

Did you lose in the stock market?

Big losers were Ayala, Globe Megaworld and other blue chip stocks.

What did we say about equity markets?