PYMNTS

Nigeria Turns To FinTechs To Boost Financial Inclusion

PYMNTS

In an effort to expand access to financial institutions (FIs), the Central Bank of Nigeria is planning to license more payment providers, Bloomberg reported on Saturday (Nov. 30). . The goal is to improve Nigeria’s financial inclusion rate by 20 percent, bringing it to 80 percent by the end of 2020.

Automakers Worry That Qualcomm Appeal Could Boost Cost Of 5G Cars

PYMNTS

If microchip supplier Qualcomm wins its case on appeal, the cost of connected cars using 5G technology will skyrocket, automakers and suppliers said in court filings on Friday (Nov. 29), Reuters reported.

Why The SAFE Banking Act Won’t Solve All Cannabis’ Payment Problems

PYMNTS

One down, two more steps to go: That’s the situation with the federal SAFE Banking Act, which recently won approval by the U.S House of Representatives. The bill promises to open up cashless payments for the growing retail cannabis industry. If the bill were to win approval by the U.S.

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US Banks Expected To Lose 200K Jobs To Technology

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In the next 10 years, as robots and other tech bring about the “greatest transfer from labour to capital” the industry has witnessed, per a report by Wells Fargo analysts, U.S. banks will slash over 200,000 jobs.

What We’ve Learned From Libra

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PayPal officially pulled its support of Facebook’s Libra initiative after it no-showed at the Libra Association meeting last week in Washington, D.C.

Western Union Enables Real-Time Account-To-Account X-Border Payments For Banks, Digital Wallets

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Western Union’s history as a retail cross border remittance platform is moving money between people, largely via cash, within minutes.

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Passage Of SAFE Banking Act Gives Cannabis Businesses Access To Banking

PYMNTS

The U.S. House of Representatives passed H.R. 1595, known as the Secure And Fair Enforcement (SAFE) Banking Act, on Wednesday (Sept.

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Swedish Cybersecurity Firm Raises $23M To Enhance ‘Ethical Hacker’ Network

PYMNTS

Sweden-based Detectify, a crowd-based online security company that incentivizes “elite hackers” to help developers stay abreast of security issues, has raised €21 million in a funding round, according to a report.

How Apple Card Brings ‘Existential Crisis’ To Smaller FIs

PYMNTS

With the recent launch of the Apple Card , Apple has sent a signal that they seek to offer a better user experience than banks. In fact, their slogan for the card is “Created by Apple, Not a Bank?.”

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Burger King Now Accepts Bitcoin

PYMNTS

You want fries with that crypto? Might have to wait a bit, especially on the international stage. For some, bitcoin and cryptos — beyond a means of speculation — are a solution in search of a problem.

Visa B2B Connect Live In 62 Countries, Adds Infosys As Integration Partner

PYMNTS

Visa announced today that Visa B2B Connect is live in 62 countries, and has added Infosys as a new integration partner.

Payments’ Role In The Fourth Industrial Revolution

PYMNTS

To get a sense of where faster payments are headed, look to the consumer. There are dozens of faster payment schemes rooted or taking shape around the world — 54 at last count. Some of them have been mandated by governments, readying for anticipated demand.

Data Breach Leaks 198M Car Buyers’ Personal Data

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A massive data breach has compromised the records of 198 million car buyers. Jeremiah Fowler, a senior security researcher at Security Discovery , discovered the breach after coming across the same 413GB dataset multiple times. “It

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SMBs Severely Underestimate Data Breach Costs

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It’s National Cyber Security Awareness Month, and industry leaders are zeroing in on some of the most vulnerable targets of cyber scams: small businesses. Stronger passwords. Paying closer attention to suspicious emails. Using public wi-fi with caution and safeguarding mobile apps.

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Uber Buys Dubai Ride-Hailing Unicorn Careem For $3.1B

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Uber coughed up over $3 billion to get its hands on Dubai’s ride-hailing startup Careem, the Financial Times reported on Wednesday (Oct. Founded in 2012, the ride-hailing unicorn – which is valued at over $1 billion – was the premier tech startup in the Middle East and North Africa. Uber paid $3.1

What The Trendsetters Say About How We Will Pay Next Decade

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Sheep are not natural-born leaders. If they were, they wouldn’t need border collies or sheepherders to make sure that they didn’t follow wolves blindly into harm’s way and that they ended up where they needed to be at the end of the day.

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Does ‘Google Checking’ Foreshadow Big Tech, FinTech Payments Changes?

PYMNTS

Banks and credit unions are certainly not on their way out, even as they face more pressure from challenger banks, FinTechs and Big Tech in the coming decade.

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Vista Looks To Sell Huge Stake In Finastra FinTech

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Vista Equity Partners is reportedly thinking about selling a stake in London-based FinTech Finastra. Bloomberg is reporting that the sale could value Finastra at $10 billion with debt included. Vista is collaborating with Goldman Sachs to look for companies that might be interested in buying.

France’s Central Bank Latest To Ponder A Digital Currency

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The First Deputy Governor of the central bank of France, Denis Beau, spoke in support of a blockchain-based settlement system that would allow for faster transfers of euros, as well as be more cost-efficient, according to a report by Yahoo! Finance.

Mastercard, Curb Launch Donation Campaign For American Cancer Society

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Mastercard is teaming with the taxi ride-hailing app Curb to help the American Cancer Society’s Road to Recovery program, which provides free rides to patients going for cancer treatment, Mastercard announced in a press release on Monday (Oct.

What’s Wrong With The Attack On Gig Economy Pay

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Drivers can’t make ends meet. Given the median income of roughly $25,000 a year and the number of hours required behind the wheel to earn that, drivers’ wages fall well below the federal hourly minimum wage. As independent contractors, drivers also have no benefits.

The Not-So-Beaten Path To B2B Payments Real-Time Ubiquity

PYMNTS

The global payments ecosystem’s path to faster and real-time payments ubiquity is an evolution, not a revolution. That is to say, mass adoption will take time, and the factors driving that adoption will almost certainly continue to change and shift as end users’ needs do the same.

MoneyGram Teams With Visa On P2P Debit Card Deposits

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MoneyGram and Visa Direct have formed a strategic partnership to roll out a new debit card deposit service, the companies announced in a Sept. 9 press release. The person-to-person (P2P) money transfer option offers U.S.

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Serving Mobile P2P Payments To The Gen X Crowd

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Financial providers worldwide are working to give small and medium-sized businesses (SMBs) quick access to their funds. Digital banks , for one, are teaming up with technology providers to accelerate settlement times for payments collected at the point-of-sale (POS).

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NEW DATA: Millennials Drove 2019’s Black Friday Spend

PYMNTS

What did you do the Friday after Thanksgiving? PYMNTS asked 2,000 consumers that very same question – and what they told us may surprise you. Of course, the day after Thanksgiving in the U.S. is known as “Black Friday” — the traditional start of the holiday shopping season in the U.S.

Deep Dive: Unsupervised Machine Learning Steps Up To Fight Fraud

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Many FIs and merchants that have fallen victim to fraud traditionally respond by assessing the damage, pinpointing how the attack succeeded and implementing new measures to prevent similar schemes from happening again.

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US Faster Payments Council Expands With ACI Worldwide

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Membership in the U.S. Faster Payments Council (FPC) is growing with the addition of ACI Worldwide, as the electronic payments and banking solution provider announced this week. The company is joining the FPC to support U.S.

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Eyeing Improved SAP, EVO Payments Locks Down Delego Purchase

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Global payments technology provider EVO Payments announced it has purchased SAP firm Delego Software, EVO said in a press release on Tuesday (Sept. Delego has deep roots in technology and was originally launched in 1997 as an SAP consulting business.

Wearables That Read Your Mind

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The fact that our connected devices are getting to know us pretty well is, by now, well-known. A phone that can unlock a hotel room door. A smartwatch that can call an Uber. A connected car that can not only help the driver find the closest burger joint, but can also order ahead.

Large Corporates Find Value In Bank-FinTech Connectivity Too

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Small businesses are a growing target for bank-FinTech collaborations and data integration initiatives as financial service providers explore new use cases for open banking.

Citi Launches Cross-Border Accounts Receivable Platform

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Citi is streamlining the cross-border collections process for its corporate treasury clients, the financial institution said Wednesday (Nov.

Truckers Put The Hammer Down Into A Digital Marketplace Future

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Trucking is a difficult and vital job. It’s not only the long, often-lonely hours, but the anxiety — as well as the lost time and money — that comes from inefficient dispatching and last-minute (perhaps unwanted) loads, among other points.

Gusto Cites Security Concerns In Zenefits API Dispute

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Small business accountants have said they are now forced to manually transfer data between payroll and human resources solution providers Gusto and Zenefits after the two companies abruptly ended their application programming interface (API) integration, AccountingToday reported.

What’s The Best Way To Navigate The New World Of Payments?

PYMNTS

These are indeed the days for mergers and acquisitions (M&A) in the world of payments, and that trend looks likely to hold into the 2020s.

What 10 Top CEOs Said About Payments This Summer

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There was no shortage of things to watch this summer for payments and commerce peeps.

How FinTechs Help Merchants With GDPR Compliance

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FinTech firms are keeping a pulse on the latest regulations and helping their clients comply with them. The European Union’s General Data Protection Regulation (GDPR), for instance, went into effect last May, and penalties are just starting to be enforced.

Apple Pay Partners With Nike For 3 Pct. Cash Back

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Nike is offering 3 percent cash back to Apple Card users when a Nike product is purchased using Apple Pay , TechCrunch reported Monday (Nov. The deal applies to all Nike products when purchases are made using the Apple Card through the Nike website, retail stores, Nike Training Club and more.

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FedNow And ISO 20022 Are Here — What Now For FIs And Faster Payments?

PYMNTS

Fifty-four faster payment schemes — and counting. Real-time payments are on the radar for most banks, and the opportunity is there to grow top lines and cement customer relationships.

GoExpedi Closes $25M Funding Round Led By Top Tier

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GoExpedi , an eCommerce, supply chain and analytics startup, has raised $25 million in Series B funding led by Top Tier Capital Partners. CSL Ventures, Crosslink Capital, Bowery Capital, Blue Bear Capital and other current investors also participated in the round.

Finastra Taps Ripple To Power Blockchain Payments

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Real-time currency exchange and remittance network Ripple has teamed up with Finastra to allow banking customers to access RippleNet , its worldwide blockchain payments network. Ripple said it will provide for more affordable, faster and more reliable payments.

In Latin America, Ripple Makes Remittance Waves

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In Latin America, news comes this week that Santander Group is boosting its use of Ripple’s technology to aid payments across what CoinDesk reported is a “payment corridor” in Latin America.

Paychex Wades Into Wearables, Real-Time Payments

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Payroll and human resource management solution provider Paychex has unveiled a range of new solutions and services at the 2019 HR Technology Conference & Exposition event late last month.

Visa: New Cyber Threats Require New Fraud Tools

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The phenomenon of payments fraud is not a modern one — far from it. But as RL Prasad, SVP of payment system risk at Visa , told Karen Webster in a recent conversation, what is new today is the who and the how of fraud, particularly in a digital world.

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