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

Ad Majorem.....Wealth Builders

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)

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

Ad Majorem.....Wealth Builders

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?

China's Stock Market Crash is several times the Greek Problem

Ad Majorem.....Wealth Builders

The Greek default involving some 200 billion Euros pale in comparison to China's stock market crash which wiped out some $3.3 trillion of wealth.  Some $2.6 trillion assets are frozen. The crash represents 40% of the total market China's stock market cap.  The sudden increase in share prices last year may not have been based on stock fundamentals, but based on psychological perception

From Slashdot - Chinas Stock Market Hammered

From Fortune - Chinas stock market loss is equivalent to to 9 Greece economies

Greece rejects IMF ECB terms of 2nd bail out? What will happen next

Ad Majorem.....Wealth Builders

July 5, 2015

Greeks (61%) vote no to 2nd bail out terms

While the Greeks can only withdraw $60.00 per day from ATM, and banks remained closed the entire week, they voted 61% no to ECB and IMF terms of  2nd bail out.  Many can not comprehend what PM Alexis Tsipras and his left wing party are up to.

We do understand that  the Greeks no longer want the prolonged hardships they are experiencing.  Since the Greek govt failed to pay the $1.5 billion interest payment due at the end of June, effectively their credit is gone.  No liquidity to be infused to the banking system.   We should be wary when IMF says that failure to come to their terms would mean more hardships.

But what are the results/possibilities?

1.  Results, -  decline in the Euro stock prices and Eruo vs dollar and yen.  Euro is only $1.10 vs the dollar;  it can go lower.

While the Greece economy is only 2% of the total European economy the  200 billion possible default, can send ripple effect worldwide.  All ready the equity markets are on the decline and there are indications of sell off.

Possibilities:

1.  Debt relief for Greece

2.  3rd debt relief

3.  Grexit?

4. Collapse of the Euro and possibly the world financial system

How to Survive Without a Credit Card

Someone forward you this email? No Sweat! Sign up here to get your own If you're having trouble viewing this email, click here Follow Us How to Survive Without a Credit Card If you've sworn off credit cards, perhaps in an attempt to avoid getting into debt, or maybe you can't get a credit card because of bad credit, some transactions (like renting a car) will be harder, but not totally impossible. LaToya Irby Credit/Debt Management Expert How to Live Without a Credit Card Most transactions that require a credit card will also let you use a debit card as long as it's tied to a checking account, but you may have to pay a security deposit. And if you're trying to access smartphone apps without a credit card, there's a way to do that too. READ NOW Share Building Credit Without a Credit Card You can build a credit history, too, without using a credit card. But you can't do it without borrow money. After all, the entire premise of a credit history is based on whether you will pay back money you've borrowed on time. READ NOW Share 6 Financial Habits That Help Build Good Credit Your credit score is primarily based on how you use credit products like loans and credit cards. But, how you handle your finances in general impacts your credit score, too. If you have a bad money habits, chances are that will be reflected in your credit score. READ NOW Share 7 Ways to Live Within Your Means To "live within your means" means that what you spend each month is less than or at least equal to the amount of money you bring in each month. For many people, it’s a lot easier said than done. READ NOW Share MORE FROM ABOUT.COM • 15 Ways You Can Start Saving More Money Today • How to Get Over Your Excuses for Not Starting Your Own Business • 7 Father's Day Dream Gifts for Coffee Loving Dads, from $6 to $14,000 • How You Can Find Stores That Will Double Coupons • How to Compete More Effectively in Foreign Markets • Your State-by-State Guide to Grocery Stores That Double Coupons • How to Get Your Book Proposal Started • 6 Great Inventions That Nobody Believed In Advertisement About Money   |   Follow Us: You are receiving this newsletter because you subscribed to the About Credit/Debt Management newsletter. If you wish to unsubscribe, please click here. If you would like to unsubscribe from all newsletters sent from About.com, please send an email to optout@about.com with "Unsubscribe" as the subject line. 1500 Broadway, 6th Floor, New York, NY, 10036 © 2014 About.com - All rights reserved

Who Will Get Rich When We Live in Space?

Humanity has long dreamed of colonizing other planets. And when we do, who will be the entrepreneurs that get rich on this new frontier?

Someone forward you this email? No Sweat! Sign up here to get your own If you're having trouble viewing this email, click here Follow Us Who Will Get Rich When We Live in Space? Humanity has long dreamed of colonizing other planets. And when we do, who will be the entrepreneurs that get rich on this new frontier? Our Expert looks back at the business magnates of the last two centuries to predict what it will take to get rich when humanity takes to the stars. Advertisement About Money   |   Follow Us: You are receiving this newsletter because you subscribed to the About Money newsletter. If you wish to unsubscribe, please click here. If you would like to unsubscribe from all newsletters sent from About.com, please send an email to optout@about.com with "Unsubscribe" as the subject line. 1500 Broadway, 6th Floor, New York, NY, 10036 © 2015 About.com - All rights reserved - Privacy Policy