PYMNTS

PayPal CEO: Digital Payments To Be $100T Market

PYMNTS

There are markets and there are $100 trillion markets. And might digital payments be in that $100 trillion classification?

Adyen Launches New Open Banking Payment Service

PYMNTS

Adyen, the payments platform, announced Wednesday (Feb. 20) it has launched a new payment service that is powered by open banking.

Green Dot Eyes Banking-As-A-Service, Gen Z To Build On Q4 Growth

PYMNTS

Financial technology firm Green Dot , which made its name on its prepaid debit card solutions, is ramping up its focus on Banking-as-a-Service (BaaS) after posting $14.3 million in net income for the fourth quarter of 2018.

Taxes 235

The Price Of Paying With Plastic Is Going Up

PYMNTS

The costs of using some cards is going on the incline, as news is breaking that the nation’s two largest card networks, Visa and Mastercard, are preparing to up the fees charged to merchants to accept network-branded cards.

Course 280

When Will Profits Hitch A Ride With Uber And Lyft?

PYMNTS

The world of ridesharing — one that has expanded into such areas as food delivery and last-mile transportation needs via scooters — is about to get really interesting.

Real Estate Money Laundering An Increasing Focus Of Governments

PYMNTS

Governments around the world have a new front in their fight against money laundering: real estate.

Visa: EMV Cuts Card-Present Counterfeit Fraud By 80 Pct

PYMNTS

Merchants saw a drop in card-present fraud due to the increased adoption of Europay, Mastercard and Visa (EMV) chip cards, Visa said. Merchants who have upgraded to chip technology saw a decrease of 80 percent in counterfeit fraud dollars in September of 2018 when compared to September of 2015.

Fraud 279

ACH Network Adds More Than 1B New Payments In 2018

PYMNTS

NACHA, the steward of the ACH Network, announced Tuesday (Feb. 19) that last year was a milestone year for the ACH Network with payment volume climbing to close to 1.5 billion payments.

‘Alexa — Is My Data Secure On Connected Devices?’

PYMNTS

By 2020, there will be an estimated 26 billion Intelligence of Things (IoT)-connected devices active around the world. As the IoT market grows, however, developers and consumers alike are growing more vigilant to protect any potential weaknesses of devices that rely on constant connectivity.

Facebook Accused Of Exposing User Data Via Groups

PYMNTS

The Federal Trade Commission ( FTC ) has received a complaint against Facebook that alleges the social media giant wrongfully disclosed information on members of closed groups.

Groups 241

Zuckerberg Considering Blockchain For Facebook Login

PYMNTS

Still Have Too Many Silos? Digital Criminals Will Thank You

PYMNTS

The fight against fraud really kicks in with customer onboarding — but that is only the first step, of course.

Walmart US eCommerce Sales Surge 43 Pct

PYMNTS

Retail giant Walmart posted fiscal 2019 fourth quarter results that topped expectations amid strong holiday spending and U.S. eCommerce sales that logged 43 percent growth year over year.

US 233

EU Parliament Eyes New Rules On Cross-Border Payment Fees

PYMNTS

This week, the EU Parliament voted for new rules mandating that banks cut fees on cross-border euro payments for countries within and outside the Eurozone.

Holiday Spend, eCommerce Among Walmart’s Causes For 4Q Cheer

PYMNTS

Things warmed up a bit for Walmart over the winter. The retail landscape had been littered with any number of disappointing earnings reports, any number of worries over the impact of a cross-border trade war between China and the U.S. ,

Could Online Intermediaries Control The Physical Point Of Sale?

PYMNTS

The year is 2039. The youngest of the bridge millennials – those 30- to 40-year-olds who today represent the first generation of connected consumers with spending power – will be having their mid-life crises at the age of 50. And the 60-year-olds will be telling the world that 60 is the new 30.

Online 271

Canada Cannabis Payments Face Hurdles

PYMNTS

Since last year, when Canada legalized recreational pot in full, the nation became a kind of country-sized lab for how that new business would play out. That market could reach as much as $5.1

Mastercard Cybersecurity Toolkit Sheds Light On SMB Education Gap

PYMNTS

Cybersecurity experts are urging small business (SMB) owners to not ignore the risks they face from cyberattacks. As SMBs become larger targets for cybercriminals, Mastercard is launching a new initiative in an effort to support small businesses’ defenses against these attacks.

In UK, FinTech Fundraising Gathers Steam

PYMNTS

Brexit may dominate the headlines when it comes to the United Kingdom, but FinTech funding proceeds apace, and financial backers show a continued sanguine attitude about the space. In news that came from across the Pond, two U.K.-based

New App Lets Users Tip On Twitter With Bitcoin

PYMNTS

Twitter users can now send small bitcoin transactions as a tip if they like a tweet, according to reports. A new app called Tippin has been released as a Chrome extension, and is currently available to the browser’s users.

KyckGlobal Debuts On-Demand Workforce Payments Platform

PYMNTS

KyckGlobal is rolling out its blockchain-powered human resources and funds disbursement portal designed to make it easier for companies to pay their freelance workers. In a press release Tuesday (Feb.

Mastercard, Ripple Back Remittance Co SendFriend

PYMNTS

Remittance company SendFriend announced that it has raised $1.7 million from investors MIT Media Lab, Barclays, the Mastercard Foundation, Ripple, Techstars, Mahindra Finance, 2020 Ventures, and 8 Decimal Capital.

XinFin Signs On To R3 Corda For Enterprise Blockchain Apps

PYMNTS

Enterprise blockchain platform XinFin is joining the R3 consortium, with the R3 Corda marketplace hosting several XinFin apps for business users, the companies said in a press release Friday (Feb.

SAFE Banking Act Gains Cannabis-Friendly Spotlight In Congressional Hearing

PYMNTS

Legal marijuana sellers want bank accounts just like any other business. Over the last two years, more than $500 million worth of cash deposits from the legitimate cannabis business has flowed into Maps Credit Union in Salem, Oregon. But that’s the exception.

Oregon 257

Why Not All FinTech Providers Are FinTech Firms

PYMNTS

Every industry has its nomenclature. And sometimes, terms get thrown about interchangeably — when, really, they refer to very different things. Such is the case in financial services, where “ FinTech ” is often used to describe financial technology vendors. “A

Blockchain’s Inroads Through National Frameworks And Trade Finance

PYMNTS

Blockchain is increasingly being separated from cryptocurrency, with an eye toward disparate use cases — some done at the national level.

Cyberattacks On Track To Lead Corporate Insurance Claims: Study

PYMNTS

The global insurance technology ( InsurTech ) market is slated to become a $1.1 billion industry by 2023, analysts have predicted, with growing analytics and artificial intelligence (AI) functionality accelerating innovation in the insurance market.

Study 235

Amazon Air Expands In A Bid To Better Manage Shipping Logistics

PYMNTS

In a move to better control shipping and logistics, Amazon has been expanding Amazon Air, with 50 new planes and numerous regional hubs, according to a report by CNBC. The expansion includes a $1.5 billion hub in Northern Kentucky, scheduled to be open in 2021.

The State Of Faster Payments: ‘Early Innings’

PYMNTS

The “state” of — well, anything — refers to its condition, the attributes and even the state of “mind” that denotes where we are at any given time on an endeavor. Might the state of faster payments be described as “conflicted?”.

Apple Overhauls Leadership Ranks To Move Beyond iPhone

PYMNTS

In an attempt to lower its reliance on the iPhone, Apple is overhauling its leadership ranks and changing its priorities so that it is focused more on services, artificial intelligence, hardware and retail, reported The Wall Street Journal.

Was The Big Equifax Breach A Spy Job?

PYMNTS

Remember all that stolen Equifax data?

Payless Approved By Bankruptcy Court To Begin Closing Stores

PYMNTS

Payless, a nationwide discount shoe retailer, has won approval from a bankruptcy court to begin closing its 2,500 stores in North America, effectively putting 16,000 employees into eventual unemployment, according to reports.

Amazon’s Healthcare Plans Include Insurance, AI Utility

PYMNTS

Ever since Amazon turned its gaze to healthcare, questions about the eCommerce operator’s plans and intentions have outnumbered answers. That’s still true, and may remain so for the time being, but this week new details emerged that, at the least, is shedding light on Amazon’s healthcare vision.

Mastercard Taps Token.io For Connectivity Hub

PYMNTS

Token.io , the Turkey-based open banking platform company, announced Wednesday (February 13) Mastercard has chosen it to provide the connectivity layer for the payment company’s open banking hub.

System 257

Peloton Eyes 2019 IPO

PYMNTS

Heading toward potentially becoming a public company, Peloton Interactive Inc. is reportedly talking with banks about an initial public offering (IPO). The company is seeking a debut in the latter half of the year, The Wall Street Journal reported.

Instagram Sees Money In Fundraisers

PYMNTS

Facebook ‘s Instagram is planning to launch a Fundraiser sticker this year. Sources have reported that new code and imagery found in Instagram ’s Android app show how a user can search for nonprofits or browse through collections of suggested charities.

Want Better Fraud Prevention? Build A Better Team

PYMNTS

One day — maybe one that has already happened for some PYMNTS readers — we might look back with fondness and nostalgia on that time when chargebacks stood as the main worry merchants and other organizations faced when it came to fraud and risk.

Fraud 225

Chase Going After PayPal, Stripe In eCommerce Payments

PYMNTS

JPMorgan Chase is gearing up to take on the likes of Apple Pay, PayPal, and Stripe by boosting its market share in the global treasury services industry by a goal of 50 percent.

Outdoorsy On Adventure Travelers, Driveway Surfers And Trying To Be The Airbnb For RVs

PYMNTS

Entrepreneurs sometimes see opportunity in places that are far from the hustle and bustle of city life: When spending time in San Francisco, Outdoorsy Co-founder and CEO Jeff Cavins spotted an unmet need for accommodations other than hotels or home shares in scenic destinations.

FinTech Credit: Not So Clear And Present Danger?

PYMNTS

As the payments landscape evolves and becomes ever more digital in scope, and as FinTech firms make inroads into traditional financial services, regulators are looking at FinTech credit — and how it might be defined and shaped. There seem to be no easy answers on just how to regulate the space.

Why QSRs Are Upping Their Digital Game

PYMNTS

In the digital age, quick service restaurants (QSRs) have a host of technologies at their disposal to remove friction in the ordering process and drive repeat visits, such as self-service kiosks and mobile apps. Consumers have generally had strong positive experiences with digital technology.

Apple 222

Mastercard, Brex Pair On Biz Travel Rewards

PYMNTS

Brex has announced that it is partnering with Mastercard to issue the World Elite Mastercard for Business, offering an enhanced rewards structure and expanded suite of travel benefits.

Mexico Sets Its Sights On FinTechs To End Poverty

PYMNTS

Mexico’s new government, led by President Andres Manuel Lopez Obrador, is setting its sights on financial technology to get the country out of poverty.