Innovation Still Centers on Cards as Mobile Payments Languish
Bank Innovation
APRIL 21, 2017
Cards may be fumbling at the innovation game, but they’re still the center of the payments world, while mobile payments remain a geeky sideshow.
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Bank Innovation
APRIL 21, 2017
Cards may be fumbling at the innovation game, but they’re still the center of the payments world, while mobile payments remain a geeky sideshow.
PYMNTS
JANUARY 2, 2019
While commercial card innovation certainly accelerated in 2018, progress can always continue. Morgan Managing Director and Head of Commercial Card Product Management Naney Pandit says should be a focus this year is in mobilizing the corporate card. But so far, mobile B2B payments have been slow to take off.
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PYMNTS
DECEMBER 3, 2020
Might mobile payments help revolutionize corporate cards? As a result, he said, many firms pivoted quickly toward card payments. “It Cards, of course, are also inherently vulnerable to fraudsters’ attacks. Cards, of course, are also inherently vulnerable to fraudsters’ attacks.
PYMNTS
FEBRUARY 11, 2020
To help diners make the best use of their mobile devices to order meals, quick-service restaurants (QSRs) are tapping into mobile innovations. Technology that lets diners place their orders for pickup or delivery has become more common, and mobile devices are serving more restaurant functions than they have in the past.
PYMNTS
APRIL 27, 2020
As consumers shop amid ongoing public health restrictions, they almost invariably reach for their credit cards — whether the physical varieties in their wallets or the digital versions stored on their browsers and mobile devices. More than ever, credit cards are becoming the coin of the realm in the global connected economy.
PYMNTS
JANUARY 18, 2021
Infineon Technologies , which works as a semiconductor manufacturer, is doing away with employee identification cards at its Germany headquarters and instead implementing a new smart card solution that combines office building access and Mastercard contactless payments capabilities, according to a FinTech Intel report.
PYMNTS
JULY 14, 2020
Convincing consumers to designate precious space on their mobile phones to download yet another app can be a tough sell these days. Interest in mobile card apps is especially high among two key groups: those who primarily use debit cards for purchases and those who primarily use credit cards while carrying balances every month.
PYMNTS
APRIL 13, 2020
Jim McCarthy, i2c president, says disasters often breed innovation. Black Swans Are the Sandbox of New Innovations. A few innovators do come forward with good ideas, but often the environment can’t support them past the short term. While it may take years, these good, innovative ideas often resurface when the time is right.
PYMNTS
SEPTEMBER 18, 2020
This week's look at payment rail innovation is all about speed, both for legacy rails and new ones. Combining these elements, we are creating a broad platform with faster technology and smarter and better services that the industry can trust as a foundation for innovation towards their own end-clients," he added.
PYMNTS
DECEMBER 4, 2020
Mastercard Intros Mobilized Virtual Cards; Defines Intersection Between Functionality And Security. The virtual card offers a strong value proposition for corporates in the form of enhanced security and control over spend. But without support for mobile wallets, v-card adoption can lag.
PYMNTS
JANUARY 30, 2020
This payment rail’s use is going strong in the United States, with debit card penetration reaching 78 percent in 2018. Consumers also show continued interest in debit even as they adopt newer payment instruments, and a 2019 report found that 61 percent of mobile wallet users linked debit cards. Around The Next-Gen Debit World.
PYMNTS
NOVEMBER 16, 2020
In Beyond the Card: Toward the Cardless and Contactless Future , a PYMNTS and i2c Inc. Physical cards are changing form, as some NFC-capable mini-cards are being embedded in rings and other wearables. Physical cards are changing form, as some NFC-capable mini-cards are being embedded in rings and other wearables.
Bank Innovation
SEPTEMBER 6, 2017
Mobile wallet usage is increasing across the globe, but for countries with more fleshed-out credit card networks, that growth is still slow. This is according to the second part of the Global Consumer Survey: Consumer Trust and Security Perceptions report conducted by ACI Worldwide and the Aite Group.
Bank Innovation
JUNE 16, 2017
Checks, cash, and cards are on their way out, right? consumers (56%) feel that mobile payments increase the chance of fraud and theft, according to a study by YouGov released today. As a result, those customers prefer to use debit or credit cards (49%) or even cash and checks […]. Not exactly. A majority of U.S.
PYMNTS
DECEMBER 9, 2020
As corporate card innovation accelerates, new paths to adoption emerge. Visa To Support USDC Card Payments. Visa To Support USDC Card Payments. Dollar Coin (USDC), Visa is reportedly planning to support USDC payments via its corporate card products. Adflex Drives Card Adoption Within Supply Chains.
PYMNTS
JANUARY 14, 2020
In financial services, demand for ease of use and security are sky-high, even for business customers. But cloud migrations are often complex, particularly when it comes to remaining compliant with the mounting regulatory initiatives designed to address growing security risks in the financial services arena.
Chris Skinner
MARCH 23, 2017
They manage the Fintech Istanbul program, and are the powerhouse behind many of the innovations we’ve seen in Turkey from mobile wallets to contactless payments. We may describe Turkish banking sector as strong, innovative, modern and well-regulated. million credit cards, 118.3 debit cards and 1.7
PYMNTS
JANUARY 23, 2020
The partnership starts with the SoFi Money debit card, an offering that will exist exclusively on the Mastercard network. SoFi’s card will provide an additional way for customers to spend with their SoFi Money cash management accounts. Mastercard will serve as the exclusive card network for SoFi’s soon-to-be-released credit card.
PYMNTS
MAY 2, 2019
With efforts to bring convenience to its guests through mobile technology, Dunkin’ Brands reported first-quarter results that beat analysts’ top-line and bottom-line earnings estimates. It’s the backbone to our digital ecosystem,” Hoffmann said, adding that it powers initiatives like mobile ordering. million and 62 cents.
PYMNTS
MARCH 18, 2020
According to Building A Better App: Banks And The Innovation Imperative , a report co-produced by PYMNTS and Ondot , almost a quarter, or 24.3 Cards — debit or credit — they say, are not really their core business. Cards are really auxiliary to my business,’ but to some extent that’s missing the point,” he said. “As
PYMNTS
FEBRUARY 26, 2020
The onset of digital banking has drastically changed the way CU customers interact with their financial institutions (FIs), placing a much greater emphasis on self-services like mobile and online banking. This makes data security of utmost importance to CUs, but even attacks on unrelated third parties can be devastating to CU members.
PYMNTS
NOVEMBER 10, 2020
Atlanta payments encryption firm Bluefin is partnering with New York mobile payments processor PAAY to advance eCommerce security. Founded in 2007 by Miles and John Perry, who serves as chief executive officer, Bluefin specializes in encryption and tokenization payment and data security. . also known as 3DS 2.0
PYMNTS
JANUARY 31, 2021
City National Bank has enlisted New York City FinTech Extend to enable the bank’s clients to offer virtual corporate cards to employees, vendors and other business partners, the companies announced in a press release. Replacing them is much easier than replacing plastic cards. With Extend, City National is the first issuer in the U.S.
PYMNTS
MARCH 17, 2017
That’s why payments innovation isn’t just about delivering a solution, but delivering one that can create efficiency and reduce risk in a secure manner. ML: As executive vice president and CIO, I am responsible for the technology and security solutions we provide and how they are positioned in the marketplace.
PYMNTS
SEPTEMBER 9, 2020
Consumers who previously paid for purchases by swiping or inserting their cards at in-store point-of-sale (POS) terminals are now turning to contactless cards and online shopping to safely and easily obtain needed goods. More merch ants are enabling mobile wallet payments, as well. Around The Next-Gen Debit World.
PYMNTS
OCTOBER 11, 2018
Coverage includes Norway ’s Vipps selection of Inside Secure to provide security for contactless payments. In Norway, Vipps has selected Inside Secure to help secure its contactless payment capabilities, according to reports. The collaboration will extend protection to both mobile phone and card payments.
PYMNTS
SEPTEMBER 19, 2019
A majority (55 percent) of corporate professionals identified real-time payments as their top B2B payment service priority, according to the Real-Time Payments Innovation Playbook. With innovation comes new challenges. The latest Securing B2B Payments Report shines a light on risk and security issues. .
PYMNTS
FEBRUARY 27, 2020
Mastercard and pan-European FinTech myPOS are teaming up to promote card payment solutions to small and medium-sized businesses (SMBs) across Europe, Mastercard announced on Thursday (Feb. The strategic partnership aims to inform more SMBs about the new tools for card acceptance that can fit their needs and budget.
PYMNTS
NOVEMBER 19, 2020
Blackhawk Network noted that mobile wallet adoption in the U.S. Google is looking to capitalize on some momentum around mobile wallets. That paves the way toward mobile wallet adoption, as consumers avoid bringing out the plastic at the POS. Mobile wallet transaction value could exceed $1 trillion by 2024.
PYMNTS
OCTOBER 1, 2020
The great digital shift is transforming credit cards into money management tools. Consumers want cards, and they want them quickly, and they want those cards [delivered] in a digital way," said Turner. The company said that through the expansion of its Digital-First Card Program, which was announced last Wednesday (Sept.
PYMNTS
JULY 2, 2020
Although CU members want innovation in member loyalty and rewards, most credit unions are not delivering these programs up to the desired standards. Credit union members’ high expectations when it comes to loyalty innovation do not necessarily make or break their banking relationships. Loyalty Innovation Strategies .
PYMNTS
JANUARY 19, 2021
Studies showed that many consumers in the United States have begun tapping their debit cards more often for payments, for example, with one report finding that debit use rose about 6 percent year over year. consumers now count themselves as “ debit-centric ” users, a sizable jump over the 33 percent who said the same about credit cards.
PYMNTS
JANUARY 30, 2020
Virtual credit cards are one of the more flexible electronic payment methods available, and the world continues its steady march toward greater digital payment use. Virtual cards can improve accounts payable (AP) processes, benefiting both buyers and suppliers by streamlining day-to-day payments, and providing greater control over cash flows.
PYMNTS
MARCH 20, 2018
Bank of America announced news on Tuesday (March 20) that customers can now add multiple credit and debit cards to their PayPal account without having to use a laptop or desktop computer. The ability to add cards within PayPal will come later this year, the company said.
PYMNTS
NOVEMBER 1, 2018
Before CEO Toffer Grant founded PEX , he worked in the world of prepaid cards (gift cards in particular), where Christmas was the biggest challenge of every year. Gift card use would faithfully and intensely spike around Christmas, only to settle back to a more typical baseline six to eight weeks after the “event.”.
PYMNTS
OCTOBER 20, 2016
3D Secure 2.0 ’s Built around the increasing popularity of mobile commerce, 3D Secure 2.0 On Wednesday, November 2nd at 1:00 PM (EST) join ecommerce advisors James Rendell, CA Technologies ; Paul Baker, Mastercard ; and Karen Webster, Market Platform Dynamics for a live digital discussion surrounding 3D Secure 2.0.
Bank Innovation
FEBRUARY 19, 2019
The 12 startups demoing to try to win the “best in show” award at Bank Innovation Ignite have been unveiled. Fintel Labs, iGTB, JUDI.AI, KapitalWise, OpenDoor Securities, and Operant.AI The startups are:[link] Avocado Payments, Budgit Inc., Community Capital Technologies, Denizen Financial, Diro Inc., Exagens Corp.,
Independent Banker
FEBRUARY 28, 2023
BankOnBuffalo president Michael Noah says the bank’s mobile branch will provide service to those who don’t have easy access to banks. Photos by Luke Copping Photography BankOnBuffalo has hit the road with its new mobile bank, BankOnWheels, to meet the needs of underserved communities. By William Atkinson Name: BankOnBuffalo Assets: $1.1
PYMNTS
JULY 16, 2019
Banks and credit unions looking for safer and more efficient digital and mobile services for debit and credit cards can now turn to the cloud. Ondot said its 4,000 banks and credit unions will see faster and easier upgrades while also gaining access to the latest innovations and functionality.
PYMNTS
SEPTEMBER 3, 2019
Two hundred and seventy-four years later, those words are the perfect framework for understanding what will define the next decade of innovation in payments and any ecosystem that touches it. Sometimes those innovations disrupted old models and players; other times they made them better and more efficient. The Invisible Innovators .
PYMNTS
JUNE 12, 2019
The myth of the lone (and possibly mad) scientist died out a long time ago, as the industrial age led to teams of researchers working together (or at healthy cross purposes) to enable innovation. The basic idea behind LISNR is to send data securely via audio. Science and invention are collective pursuits. LISNR Case Study.
PYMNTS
JANUARY 7, 2020
Mobile wallets are on the march, so to speak, and what happens with them in their next phase of development — in 2020 and beyond — will say much about what happens to broader areas of payments. Creating a common platform is really the foundation of these mobile wallet offerings.”. That’s a bit of a mouthful. Conversation Topic.
PYMNTS
MAY 31, 2017
Visa announced Tuesday (May 30) that it is rolling out enhancements to its Verified by Visa service, a global solution designed to make online purchases more secure by helping ensure payments are made by the rightful owner of the Visa account. As part of the upgrade, Visa said it was enhancing its systems to support 3-D Secure 2.0,
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