Wed.Nov 18, 2020

Carrying Cash Could Become A Casualty Of COVID

PYMNTS

While its imminent death has been long forecast, cash just keeps on living to pay another day. Cash may not be king in the U.S. market anymore, but reports of its demise have often proved to be a bit premature.

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A Confluence Of Evolving Themes In Insurtech

Daily Fintech

After eleven weeks of chronicling discernible trends and dominant movers in insurtech, I have barely scratched the surface of major shifts the $5 trillion global insurance industry is embarking upon. Meantime, I have covered upstart unicorns, innovating incumbents and those in between.

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US Consumers Pay Down $10B In Credit Card Debt In Q3

PYMNTS

Americans paid off $10 billion in credit card debt in the third quarter (Q3) of 2020, but borrowed more for car and housing loans, according to a report in the Wall Street Journal (WSJ) citing the Federal Reserve Bank of New York.

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Stablecoin News for the week ending Wednesday 18th November.

Daily Fintech

When, if ever, will we get our stablecoin(s)? Here is our pick of the 3 most important Stablecoin news stories during the week. This last week we have heard quite a bit of “go slow” commentary on the pace of delivery of this future form of money.

5 Things a Data Scientist Can Do to Stay Current

DataRobot together with Snowflake – a leading cloud data platform provider — is helping data scientists stay current with the latest technology and data science best practices so that they can excel in an increasingly AI-driven workplace. Five Things a Data Scientist Can Do to Stay Current offers data scientists guidance for thriving in AI-driven enterprises.

JPMorgan Chase’s Dimon Scolds ‘Childish’ Congress For Stalling On Coronavirus Relief

PYMNTS

One of the nation’s most powerful bankers lashed out at Congress on Wednesday (Nov. 18) over the stalled coronavirus relief package, chiding lawmakers for “childish behavior” that has prevented them from brokering a deal.

More Trending

Telemed Startup K Health Partners With Mayo Clinic, Closes $42M Funding Round

PYMNTS

New York-headquartered Tel Aviv telemed startup K Health announced that it has partnered with Mayo Clinic and separately closed a $42 million Series D funding round led by Valor Equity Partners, according to a VentureBeat report on Wednesday (Nov. 18). .

Google Pay overhaul adds in-app banking with Citi, Stanford FCU and others

Payments Source

Google has redesigned Google Pay to add new financial management and loyalty features; and to offer consumers checking and savings accounts from partner banks and credit unions in 2021. Mobile payments Google Pay Citigroup Mobile wallets Google Loyalty and rewards

Bringing Order To Chaos: Open Banking Meets Healthcare Payments

PYMNTS

In the accelerated, digital-first world, few things are more complicated than healthcare payments. In fact, even a medical school degree isn’t enough to sort out the different payment accounts, billing statements and various insurance plans.

Podcast: Celebrating Bankers’ Community Commitment

ABA Community Banking

The ABA Banking Journal Podcast continues a pre-Thanksgiving tradition by interviewing the winners of ABA's 2020 Community Commitment Awards. These stories present the perfect inspiration as we prepare for the season of thanks and giving.

The Best Sales Forecasting Models for Weathering Your Goals

Every sales forecasting model has a different strength and predictability method. It’s recommended to test out which one is best for your team. This way, you’ll be able to further enhance – and optimize – your newly-developed pipeline. Your future sales forecast? Sunny skies (and success) are just ahead!

Boston Market Deploys AI To Fight Fraud, Improve ROI

PYMNTS

Artificial intelligence (AI) is transforming the food service sector by helping restaurants boost their sales as well as improve and automate systems that were once managed by staff.

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Visa updates Fast Track accelerator, enables launch of LGBT+ preferred name card

Payments Source

The accelerator has enabled Los Angeles-based fintech Be Money to relaunch itself as Daylight and bring to market a transgender-inclusive preferred name card. Diversity and equality Fintech Digital payments Network rules Visa

Payments Startup Veem Introduces New Tool For Easy B2B Payments 

PYMNTS

Global payments startup Veem is launching a new business-to-business (B2B) tool to simplify and automate domestic payments, the company announced in a Wednesday (Nov. 18) press release.

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ISOs need to find a new level of agility

Payments Source

Software developers and ISOs must go into payment partnerships with a full understanding of what capabilities their merchants are seeking, including flexibility and choice, says NMI's Nick Starai. ISOs Digital payments Payment processing Merchant APIs

The Empowered Consumer

When it comes to working with the empowered consumer, AI has the power to help your business thrive by leveraging your own data to better understand your customers. Read our ebook, The Empowered Consumer, to learn more about how AI can help you connect with your customers.

Cash Out: PhonePe On India’s Mobile Payments Adoption

PYMNTS

Companies that are looking to launch offices in more countries and serve customers in new markets need to be able to easily pay staff in those locations.

Mobile 207

paySupreme card launches for those with loved ones in prison

Payments Source

Securus Technologies and JPay are launching a general-purpose reloadable prepaid card that will include access to various financial services and money transfer capabilities, as well as benefits for families handling finances of a loved one currently incarcerated. Prepaid cards Debit cards

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The Clearing House: RTP Network Drives New Use Cases, Creates Value For SMBs This Holiday Season

PYMNTS

The Clearing House 's RTP network is now several years old, and while the real-time payments capability is gaining traction, adoption in the B2B landscape remains muted. Indeed, it can be difficult for businesses to change their payment habits.

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Third-party risk is major, but there is a roadmap to safety

Payments Source

PCI has issued guidelines that are helpful, says PXP Financial's Koen Vanpraet. PCI Fintech Risk Payment fraud

B2B Pocket Playbook: End-to-End Guide to Sales Enablement

Sales enablement is the strategic process of providing sales teams with the content, guidance, and mentorship needed to engage targeted buyers. It’s all about equipping sales professionals with the tools they need to put their best-selling foot forward. And if sales teams want to continuously sell better -- and faster -- their sales enablement process must have a game-winning strategy. It's time for you to start selling smarter - and hitting your sales number - with the best B2B database in the market. Get started today.

Chime CEO Predicts Mobile Banking Surge Is Here To Stay

PYMNTS

Chime , a mobile-based startup delivering banking services that has gained strength during the pandemic, is here to stay, according to CEO Chris Britt , CNBC reports.

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UK fintechs poised to save credit-starved SMEs

Bobsguide

Viable businesses in Britain will require more low-cost finance for investment if they are to survive the blows of the pandemic – and it must come in the form of a “major commitment from the financial services industry”, warned the Governor of the Bank of England Andrew Bailey in

Mastercard, Network International To Introduce Commercial Cards In Middle East, Africa

PYMNTS

Mastercard is teaming up with Network International , which works in digital commerce for the Middle East and Africa, to help drive the adoption of commercial payment services in that region, according to a press release.

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In Wirecard's collapse, Railsbank finds tech and talent to compete with Apple Card

Payments Source

Within the payments industry, Wirecard as a brand has become almost like Enron — but an exec at Railsbank says the German processor's fall from grace masks talent and innovation that can thrive elsewhere and help forge new paths to financial services. Fintech Payment processing Credit cards

Data Science Fails: Building AI You Can Trust

The new DataRobot whitepaper, Data Science Fails: Building AI You Can Trust, outlines eight important lessons that organizations must understand to follow best data science practices and ensure that AI is being implemented successfully.

Billtrust Upgrades ML Power For Faster B2B Cash App

PYMNTS

New Jersey-based invoice-to-cash platform Billtrust has upgraded the machine learning (ML) capabilities of its business-to-business (B2B) cash application software, the company announced Wednesday (Nov.

Dimon calls lawmakers ‘childish’ for failing to pass second stimulus

American Banker

JPMorgan Chase CEO Jamie Dimon says the partisan bickering over coronavirus relief aid is harming households and businesses and jeopardizing the chances of an economic recovery. Jamie Dimon Economy Coronavirus

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Amex Study: Social Media Shout-Outs Could Pump $197B Into SMB Economy

PYMNTS

As the holidays grow closer, American Express says research has shown that social media promotions and engagement could be a big boost for this year's Small Business Saturday event, according to a press release.

Why is it so hard for a fintech to become a bank?

American Banker

The success of some fintechs in getting bank charters this year only underscores how onerous the process remains for many others. That’s unlikely to change unless policymakers reconsider what it means to be a bank. Fintech ILCs Digital payments

Pressure Points: How to Ensure Your B2B Pipeline Passes Inspection

This eBook highlights best practices for developing a pipeline management process that helps sales leaders and their team C.L.O.S.E (you’ll see what we mean in this eBook) more revenue through data-driven prospecting, stage analysis, and subsequent sales enablement.