Wed.Jul 29, 2020

When the banks closed, no-one cared

Chris Skinner

A great headline posted in The Financial Times the other day: When the banks closed in Wuhan, nobody cared The Financial Times article makes clear how advanced the Chinese economy is today.

Bank Of China Advises Country’s Banks To Avoid SWIFT Messaging

PYMNTS

With the economic and political battles between the U.S. and China heating to a boil, one of China’s top banks is urging financial institutions (FIs) to cut their use of the SWIFT financial messaging network for cross-border transactions.

Maine 282

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Things worth reading: 30th July 2020

Chris Skinner

US 253

Payments And Platforms Play Well Together

PYMNTS

As virtual marketplaces displace (and replace) the physical variety at a dizzying pace, payments speed and security are paramount concerns. When transactions and payments occur cross-border, those concerns are doubled.

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!

Next-gen central banking | Pillar 3: Drive efficiency

Accenture

Pillar 3: Drive efficiency In our introductory report, we noted that it is crucial for central banks to drive efficiencies in a range of areas, both externally (to ensure a vibrant and resilient financial services sector) and internally, to ensure that central banks can deliver the relevant services to the industry in an agile and….

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The insurance earth is flat. Digital conferences have helped prove that theory.

Daily Fintech

Being a last minute addition to two Digital Insurance Innovation Conference Africa 2020 panels has proven the Flat Earthers’ hypothesis- the earth is not a spherical barrier to virtual navigation, and taking the concept one step further, insurance innovation has loosed its bindings from its earthly coil and barriers raised by regulatory frontiers.

Strong Venmo and QR Code Payments Growth Help PayPal Score Record Q2 Earnings

PYMNTS

In an earnings season defined by diminished expectations amid the worldwide economic shutdown, PayPal not only beat analysts’ expectations Wednesday (July 29) but enjoyed a record quarter.

Pandemic gives U.S. Faster Payments Council role of easing digital transitions

Payments Source

The agency's voice carries even more weight in light of the coronavirus pandemic, which has hastened the transition to digital and remote payments. Real-time payments Digital payments Retailers Faster payments Network rules

US 110

Shopify’s 2Q Earnings Illustrate Growing Digital Shift For Merchants, Shoppers

PYMNTS

Shopify reported second-quarter earnings on Wednesday (July 29) that demonstrated the growing digital shift for consumers, with the company recording a dramatic increase in both the number of stores on the platform and consumer spending at those stores. By the numbers, total revenue came in at $714.3

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.

ISO's standards can bridge post-coronavirus international payments

Payments Source

One way banks can prepare for a smooth cutover to new standards is by implementing a core banking / payment solution that uses ISO 20022, says Infosys Finacle's Peter Ryan. Cross border payments Digital payments Data security Coronavirus Payment processing Payment standards

BoA Expands Mobile Wallets To EMEA, APAC Corporate Clients

PYMNTS

Bank of America (BoA) has expanded its mobile wallet use to include corporate customers in the Europe, Middle East and Africa (EMEA) and Asia Pacific (APAC) regions, hoping to enhance clients’ experiences through faster and more secure business transactions, according to a press release.

Mobile 219

Amid a crisis, PayPal has best its quarter since its IPO

Payments Source

As the coronavirus pandemic wreaked havoc on the economy, there were few bright spots. PayPal is one of the brightest. PayPal Online payments Digital payments Earnings Coronavirus

Online 107

The Latest Digital Fraud Prevention Technique: Build A Selective Lock

PYMNTS

When one stops to consider how fast merchants pivoted to offer their consumers digitally-enriched shopping journeys and how many things customers can do now that they couldn’t as recently as January, it’s pretty staggering.

Fraud 213

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.

Australia’s Adatree At the Forefront of Australia’s Open Banking Push

Daily Fintech

Slowing Consumer Spending Stalls Visa’s Q2 Results 

PYMNTS

Visa managed to come out ahead of analyst expectations for both revenue and earnings when it reported its Q2 results yesterday (July 29), but the world’s largest card network found itself hit hard by plummeting consumer spending in the second quarter.

Survey 211

Turning deliveries into digital payments, Latin America's Rappi eyes international growth

Payments Source

On-demand delivery service Rappi is leveraging its huge customer base to provide financial products to Latin American consumers through partnerships and joint ventures with fintechs and banks. Latin America Digital payments Mexico Gig economy Colombia Mobile wallets Peru

B2B Payments’ Pivot To Digital

PYMNTS

“Fundamental changes to the B2B payments landscape are taking place today, faster than ever before, helping the ecosystem eliminate inefficient B2B payments processes.”.

Marketing-Led Post-COVID-19 Growth Strategies

Businesses are laying off workers, shutting their doors (some permanently), and struggling to react to the radical destruction that coronavirus (COVID-19) is doing to our society and communities. Most have already sustained massive damage, and we still have yet to see the scope of impact of the global pandemic that has upended the globe. Any return to normalcy may seem far-off, but sales and marketing are on the front lines of restarting the economy. When the dust settles, we have a responsibility to turn our shock and grief into fierce determination, and lead the charge of responsible, strategic, sustainable future growth. However, there’s no team better suited to lead that charge than the marketing department. Marketers are uniquely positioned to provide creative solutions to aid their organization in times of change and chart a course for navigating success.

Engineers are the stars of the new payments world

Payments Source

As more payment enterprises embrace the ecosystem model, we will continue to see a shift towards composable and dynamic operations flows supported by an engineering-first approach and a smart digital core, says Mphasis' Andres Ricuarte. Fintech Mobile payments Digital payments Payment processing Merchant

Report: Sycamore Partners Seeks To Buy JCPenney For $1.75B

PYMNTS

Sycamore Partners is reportedly seeking to buy JCPenney for $1.75 billion and intends to combine the iconic retailer with the Belk department store chain, the New York Post reported, citing an unnamed source.

Report 206

Who can fill Jessica’s shoes on the subject of SMB Fintech? 

Daily Fintech

I am sad to report that today will be the last post on Daily Fintech by Jessica Ellerm. She started writing here way back in the early days. For the record here is the post announcing Jessica over 4 years ago. I will miss her ability to make complex subjects accessible, informative and entertaining.

The Drones Are Coming To One Of 78 Million Backyards Near You

PYMNTS

“Please put seat backs and tray tables in their upright and locked position. Your monthly subscription box of (fill in the blank) will be descending from the sky momentarily.”. Except with drones, there are no seats or drivers. Meet the future: drone delivery.

How ZoomInfo Helps Overcome the Top Pain Points of Inside Sales

Recent digital transformation has shifted the B2B landscape by ushering in the era of buyer empowerment. With more access to user reviews, analyst opinion, and industry research, decision-makers are more informed than ever while navigating what is now known as the “buyer’s journey.”

Investors 'double down' on Remitly, driving value to $1.5B as coronavirus propels mobile remittances

Payments Source

Remitly has raised $85 million in its latest fundraising round, valuing the company at $1.5 billion as the COVID-19 pandemic drives consumers to increasingly send remittances digitally. Cross border payments Remittances Digital payments Venture funding Coronavirus

Advancing With Collaboration, Cooperation And Innovation

PYMNTS

“Digitization has helped support remittance market continuity in the face of reduced mobility. We also believe money transfers relying on informal or unregulated routes are converting to formal money transfers, and may even help stabilize the market as travel restrictions likely remain.”.

Covid-19 briefing: post-lockdown macro

BankUnderground

Michael Kumhof. In the wake of Covid-19 lockdown, macroeconomic policymakers have to deal not only with the immediate contraction in the economy, but also with the medium and longer term macro-consequences. Over the past four months, the macroeconomic literature on these topics has expanded rapidly.

Mastercard’s Head Of Innovation: How The Microsoft Partnership Will Boost Digital Commerce Globally

PYMNTS

Payments and commerce players are used to rapidly changing landscapes. One of the defining characteristics of the past decade or so has been that what’s an industry-disrupting innovation one day is old news within six months.

Marketing Ops: The New Revenue Hero

As data continues to play a starring role in today’s B2B organizations, both marketing and sales operations professionals are poised to solidify their place as critical revenue drivers. In particular, the evolution of the Marketing Operations (Ops) role has created a new standard in marketing and has become a vital component of an organization’s success.