Payments Dive
AUGUST 9, 2019
To compete in the Latin American ecommerce space, businesses must understand the nuances of the local payments space and how business in each individual country gets done.
Bank Innovation
AUGUST 9, 2019
As credit unions look to improve their technology on smaller budgets, one solution is to band together and pool assets. On Thursday, six credit unions did exactly that to improve their online payment capabilities through an investment in the digital payments company Payrailz. The new credit union service organization (CUSO), called CU Payz, wants access […].
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PYMNTS
AUGUST 9, 2019
Visa is moving toward discontinuing its Visa Checkout service sometime next year, according to reports. It appears the company’s service, which was introduced in 2013 and competed with services like PayPal, will be shuttered in favor of a new EMV SRC-based service. In 2017, Google Pay added Visa Checkout support, which allowed users to make purchases using Visa cards that were associated with Google Pay accounts.
Bank Innovation
AUGUST 9, 2019
For financial institutions that can’t develop new products in-house, a startup partnership can help move an innovation agenda forward through new tech-enabled product offerings for customers. However, since small institutions can’t always afford to take the risk of an unsuccessful product rollout, they’ve begun to tap into a program that vets potential partners beforehand.
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Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper
PYMNTS
AUGUST 9, 2019
Where once there was cash at the register, there will be scan and go. The salespeople dotting the aisles may give way to self-service kiosks. In an interview with PYMNTS, Tim Moran, senior vice president of product and marketing at Worldnet , told PYMNTS that the age of automated retail is dawning — but there is no one-size-fits-all approach. Automation efforts in retail, he said, can be split into two camps — one focused on the front end, or consumer experience, and the other on the back end, w
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Abrigo
AUGUST 9, 2019
The current expected credit loss model, or CECL. Modernization of the Community Reinvestment Act. The shifting shape and effect of fintechs on banking. Libra and other forms of digital currency and their impact. Financial institutions are dealing with enormous change these days. Banks and credit unions must learn about these upcoming changes, adjust for them, and meanwhile continue to operate their existing institutions and meet customers’ needs while following all of the regulations that come w
PYMNTS
AUGUST 9, 2019
With its new credit card in conjunction with Apple, Goldman Sachs is reportedly approving some borrowers who are subprime for the offering. The bank is accepting applications for the Apple Card from some users who have credit scores that are not stellar, CNBC noted in a report that cited unnamed sources. Apple reportedly wanted its bank partner to create a platform that would approve the most possible U.S. iPhone users within the range of responsible lending and regulations, per the sources.
Payments Source
AUGUST 9, 2019
Marqeta was in on the API digital payments game early, but rivals from Stripe to Wirecard are aggressively expanding digital payment solutions for diverse consumer and B2B use cases.
PYMNTS
AUGUST 9, 2019
As September approaches, the deadline for EU merchants to implement Strong Customer Authentication (SCA) is looming. But according to the PSD2 Tracker , as many as 60 percent of these merchants aren’t ready. A significant share of European merchants remain unaware of SCA, and those that are aware still need guidance regarding what they are required to do — if anything — to remain compliant when authenticating customers.
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In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202
BankBazaar
AUGUST 9, 2019
Are you facing trouble with your car loan EMIs? We’re here to help you make an informed choice when it comes to voluntary surrender or repossession of the car. Are you afraid of defaulting your Car Loan payments due to a financial crisis? Wondering what to do if you’re unable to make your Car Loan payments on time? Here’s everything you should know.
PYMNTS
AUGUST 9, 2019
Make room for more contextual commerce and more retail innovation in the travel sector. That’s the view from one of Google’s latest retail-associated launches, an airfare insight and travel recommendations offering. According to VentureBeat , Google has “rolled out a series of updates to google.com/travel , its one-stop itinerary planner on the web.
Payments Source
AUGUST 9, 2019
Lightico is focusing on how users engage with institutions on a mobile device, something the company believes is a shortcoming among card issuers.
PYMNTS
AUGUST 9, 2019
Though Amazon and Walmart are in a constant race for the consumer’s whole paycheck, they mostly stay within their own lanes. Though both move and counter-move against each other in clearly observable and trackable ways — the instances of the two firms directly pushing on or back against each other are comparatively rare. This week, however, it seems such direct push-and-pushback is happening as both sides look to shore up the strength of their various marketplaces.
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Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.
ATM Marketplace
AUGUST 9, 2019
As banks focus on mobile and customer experience, many are outsourcing their ATM maintenance and upkeep. The outsourcing trend, which began in the 1990s, has picked up speed in recent years with EMV upgrades and the migration to Windows 10.
PYMNTS
AUGUST 9, 2019
As the price of bitcoin surged this week, cryptocurrency (namely, Facebook’s Libra) has been under increased scrutiny by regulators. The folks who bought their bitcoin at around $4,000 are feeling pretty smart. The folks who bought at near $20,000 are feeling a bit less blue than they did when it was $4,000 – but they aren’t feeling as great as they were at $19,000 and change, when the sky seemed the limit.
Payments Source
AUGUST 9, 2019
The information you need to start your day, from PaymentsSource and around the Web. Today: Commerz pilots M2M; Postmates deploys robots; Libra encourages new technology; State Farm suffers a breach; Rhode Island issues crypto regulations.
PYMNTS
AUGUST 9, 2019
In what seems to be shaping up to be a modern-day version of The Beatles vs. The Rolling Stones, Uber and Lyft have put out their numbers for the latest quarter, and depending on where you look, or what niche you examine, or what line item you favor, one or the other is a winner. The initial reaction, at least from investors, is akin to voting with feet.
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Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.
Payments Source
AUGUST 9, 2019
Most ATM update projects fail for a variety of reasons, such as the amount of time and effort required was simply underestimated, competing priorities get in the way, a lack of resources, a reliance on manual testing processes and procedures, according to Paragon Application Systems' Steve Gilde.
PYMNTS
AUGUST 9, 2019
New York aviation startup Wheels Up has notched a $128 million Class D equity capital raise co-led by new investor Franklin Templeton, the company said in a press release on Friday (Aug. 9). Rowe Price and Fidelity Management & Research also signed on, joining other institutional and private investors. Wheels Up now has a valuation north of $1.1 billion.
Payments Source
AUGUST 9, 2019
Square has launched Square Terminal in Canada in an effort to lure merchants that use myriad iPads, tablets and smartphones to receive payments in stores and remotely.
PYMNTS
AUGUST 9, 2019
Direct sales company Younique, which has been pivotal in its approach to social media marketing, has launched an augmented reality (AR) makeup trying-on tool, according to a release. . The tool uses facial analysis and bridges the gap, the company said, between online and in-person shopping. Its aim is to answer the timeless question of “will this look good on me?
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Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.
ABA Community Banking
AUGUST 9, 2019
As consumers increasingly access banking services through digital channels, the vast majority of branch closures have been concentrated in well-off areas. The post Don’t Confuse Branch Closures with Fewer Banking Services appeared first on ABA Banking Journal.
PYMNTS
AUGUST 9, 2019
Car2go, a car rental app that lets users pay by the minute, is significantly raising its rates, according to a report by TechCrunch. The company said it’s going to start using variable pricing, based on how busy the service is and the time, location and day, something similar to what Uber does. . The company said it is “constantly evaluating our product, packages, and pricing strategies” and that the new pricing system will start next month.
Payments Source
AUGUST 9, 2019
The U.K.’s Equals Group’s FairFX currency unit has purchased Hermex FX, another U.K. firm serving corporate customers with currency exchange and payment services.
PYMNTS
AUGUST 9, 2019
Commercial payments firm Bottomline Technologies is doubling-down on data intelligence after posting an 11 percent year-on-year increase in subscription and transaction revenues for the fourth quarter of fiscal year 2019, the company announced Thursday (Aug. 8) after market close. Both Rob Eberle, chief executive officer and president, and Rick Booth, chief financial officer, described the results as “solid” for the firm during Thursday’s earnings call.
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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.
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