Archive | Business Pulse

A Brief History of eCommerce

Around 1972: The ARPANET is used to arrange a cannabis sale between students at the Stanford Artificial Intelligence Laboratory and the Massachusetts Institute of Technology. This activity is later described as “the seminal act of e-commerce” in John Markoff’s book What the Dormouse Said. 1981: Thomson Holidays UK is the first business-to-business online shopping system to be installed. 1984: In April […]

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The Kiosk Market – A Look at the Numbers

The U.S. kiosk market place consists of three general segments based on the equipment used in the particular sector. Those branches are: vending machines, ATM’s, and self-service. The total combined installed base for the three technologies is estimated at 28.2 million units in 2010 and is expected to reach 33.8 million units by 2015. Vending […]

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Pertech’s Virtual COM Application Solves Upgrade Connectivity Problems

Pertech Industries has recently released an innovative USB-to-Virtual RS232 Serial Port software for use with the 5300 teller validation receipt printer. The software has been eagerly anticipated as many financial institutions have been migrating to Windows 7 but may not need or want to update their teller software programs or change printer hardware. The Pertech […]

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A Short History of the Kiosk

The first self-service, interactive kiosk was developed in 1977 at the University of Illinois at Urbana-Champaign and was designed to provide campus information. Reportedly 30,000 individuals used the kiosk in the first six weeks. The first successful network of interactive kiosks used for commercial purposes was a project developed by the shoe retailer Florsheim Shoe Co. The […]

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A Snapshot of the Chinese Banking Market.

Until recently, most banks in China were owned either by the central government or local municipal governments. Private banks were very rare in China. The industry is tightly regulated, with deposit interest rates controlled by the authorities and all bank savings enjoying the implicit backing of the state. The biggest Chinese banks, which also happen […]

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You can never know too much about GDP

In its annual review of the U.S. economy, the IMF cut its forecast for U.S. economic growth this year to 2% (from 2.8%), citing a harsh winter, a struggling housing market and weak international demand for the country’s products. The fund maintained its 3% growth outlook for next year, saying a meaningful economic rebound is […]

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Did You Know That

As of September 30, 2013, The United States’ five largest banks and thrifts owned 44 percent of the bank and thrift industry’s total assents? This is according to an analysis by SNL Financial. The six biggest U.S. banks, led by JPMorgan Chase and Bank of America, have piled up $103 billion in legal costs since […]

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Kiosks move into mainstream banking big time

The large U.S. population of unbanked and underbanked consumers is fertile ground for kiosks offering financial services such as bill payments, money transfer, and cash transactions. These kiosks provide a low-cost alternative to banks (and others) for cash-preferred consumers. The FDIC estimates that approximately one-third of the U.S. populations falls into this category. “The underbanked […]

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