Fri.Jan 10, 2020

Thailand strives to catch up to Asian markets on digital banking

Bank Innovation

Thailand is laying the foundations for standalone digital banks as it strives to catch up with other Asian markets that are allowing such changes, according to its central bank governor. “At

Maintaining a competitive advantage in the banking space

Mobile Payments Today

Bátiz-Lazo, departmental chair in Business History and bank management at Bangor University, in Wales, discussed the importance of creating a competitive advantage

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Big Brands Are Cutting Ties With Amazon

PYMNTS

IKEA has announced it is cutting ties with Amazon, a move that other brands like Nike, Birkenstock and PopSockets have also done recently. However, according to a report by CNBC , the move could backfire, as Amazon completely dominates the online shopping market, with 38 percent under its control.

Weekly Wrap: CIT targets homeowners associations, as Qapital connects emotions with money

Bank Innovation

Welcome to the latest episode of our Weekly Wrap video series, for the week ending Friday, January 10, 2019.

Tesla Invites Hackers To Find Flaws For Prizes At Competition

PYMNTS

To challenge hackers to find flaws in its vehicles, Tesla , the electric automaker, is returning to the Pwn2Own hacking competition run by Trend Micro ’s Zero Day Initiative (ZDI), electrek reported. Some Model 3 vehicles and approximately $1 million are said to be for the taking.

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Fine-Tuning ALM Strategies for 2020

Abrigo

Key Takeaways If you don't feel like your modeling results are relevant, then it might be time to ask different questions. Shift your ALM model from a static to a dynamic approach to find more value in your results. Strapped for time to implement these strategies?

People’s Bank Of China Making Progress Toward Digital Coin

PYMNTS

China’s central bank, the People’s Bank of China (PBOC), said it has completed the “top-level” design of its proposed digital currency, according to reports.

More Trending

Fiserv: Why Gas Is Just The Start Of What Alexa Will Pay For

PYMNTS

While there were many attention-grabbing announcements coming out of the International Consumer Electronics Show (CES), among the more eye-opening was the joint announcement by ExxonMobil, Amazon and Fiserv that paying for gas at the pump was as easy as asking Alexa.

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5 key trends for small business credit and debit cards in 2020

Payments Source

A strong economy in 2020 could lift the small-business card market, which is an important source of lending and payments for entrepreneurs and local merchants. Retailers B-to-B payments Credit cards Small business

How SMBs Can Address Late Payments — Before They Happen

PYMNTS

Few small businesses (SMBs) are immune to the risk of delayed and late payments.

Why surcharging remains controversial, even when most states allow it

Payments Source

Oklahoma lawmakers' decision last month to drop the state's surcharging ban was yet another signal that U.S. merchants have the final say in whether to apply extra charges to credit card transactions to offset interchange fees.

Despite Amazon Relationship, Kohl’s Has Sour Holiday Season

PYMNTS

The year is off to a less-than-stellar start for Kohl’s. The retail chain has yet to report its fourth-quarter or full-year 2019 earnings, but in a statement released this week (Jan.

Capital One's Winninger addresses the bank cafe experience

ATM Marketplace

Reimagining the in-branch customer experience has become an increasingly important challenge amid the rise of mobile banking an alternative payment options.

CFPB Charges Student Loan Debt Relief Firms With Unlawful Behavior

PYMNTS

The Consumer Finance Protection Bureau (CFPB) has filed lawsuits against several companies offering to forgive student loan debt for allegedly obtaining peoples’ data illegally, charging unlawful fees and engaging in “deceitful conduct,” an announcement said.

Podcast: ATM Security Threats - How to overcome them and keep your cash secure

ATM Marketplace

Claire Shufflebotham is the Global Security Director at TMD Security, a world-wide provider of ATM security solutions and integrated keyless access management for ATMs and branches.

SoftBank To Invest In Indonesia’s Sustainable City

PYMNTS

SoftBank Chief Executive and Founder Masayoshi Son wants to invest in the building of a $34 billion smart capital in Indonesia that would focus on renewable resources, according to a report by Bloomberg. Son met with President Joko Widodo in Jakarta on Friday (Jan.

Why Amazon targeted PayPal's Honey in deal-site pushback

Payments Source

The recent explosion of online shopping tools pointing users to the lowest prices for items — particularly on Amazon — appears to be making the e-commerce giant nervous. Amazon Online payments PayPal Retailers M&A Loyalty and rewards

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How Mom And Pops Can Survive Retail’s Apocalypse

PYMNTS

Serving the needs of Americas millions of micro-merchants and mom-and-pop shops is one of those business plans that always sounds much easier in theory than it turns out to be in practice. The simple reason? Diversity.

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U.K. issuer NewDay to acquire installment lending platform Deko

Payments Source

credit card lender NewDay, which issues co-branded cards for Amazon, Laura Ashley and Topshop, is expanding its technology offerings by acquiring installment lending platform Deko. Point-of-sale M&A Credit cards

After PayPal Pays $4B For Honey, Amazon Tells Users To Uninstall It

PYMNTS

Amazon , during the height of the holiday shopping season, told its customers to uninstall Honey , a browser extension that automatically searches for coupon codes at checkout, according to a report by CNBC. Amazon said Honey could be a “security issue.”

Estonian fintech bank connects to U.K.'s Faster Payments

Payments Source

Fintech bank and payment services provider LHV is now providing real-time payments in the U.K. through the country's Faster Payments scheme, allowing it to handle U.K. currency in addition to euro payments in the Single Euro Payment Area through SEPA Instant. Real-time payments European Union Cross border payments U.K. Estonia

eScooter Startup Lime Exits 12 Markets, Fires 14 Pct. Of Staff

PYMNTS

Lime is striving to reach profitability in 2020 and is laying off about 14 percent of its workforce — roughly 100 people — and ceasing operations in 12 markets, according to reports on Thursday (Jan.

Retail-style perks can help banks battle fintech wallets

Payments Source

Banks can remain competitive in a more crowded field by offering attractive rewards through easy-to-navigate, secure microsites, says Informa Financial Intelligence's Gina DeCorla. Barclays Retailers American Express ISO and agent Loyalty and rewards Mobile wallets

Amazon Warns That PayPal’s Honey Poses ‘Security Issue’

PYMNTS

Amazon , during the height of the holiday shopping season, told its customers to uninstall Honey , a browser extension that automatically searches for coupon codes at checkout, according to a report by CNBC. Amazon said Honey could be a “security issue.”

The Partnership Series – Volume One: Financial Institutions and Technology Firms

Strategically Speaking

The financial services industry seems to be transitioning into a new phase of technological advancement. The last 10 years have seen the beginning of a technological renaissance in many areas of the industry, affecting the way that both consumers and businesses interact with financial institutions.

The Troubling Ripple Effects Of The Travelex FX Hack

PYMNTS

It might make sense that as commerce goes ever global, and as banks do an increasing volume of business cross-border, that the hackers and fraudsters would look at FX as a lucrative way to ply their malevolent trade. And the ripple effect, truly, is international in scope.

This Week in Fintech 10 Jan

Daily Fintech

This weekly summary from our 5 experts, brings you insights based on their experience as investors, entrepreneurs & executives. Ilias Hatzis started his first company, an internet search engine, during the dot-com era & now focusses on crypto.

Chinese Social Media Startup Seeks Funds At $6B Valuation

PYMNTS

Chinese eCommerce and social media startup Xiaohongshu , also known as “Little Red Book,” wants to raise funds at a $6 billion valuation, according to Bloomberg. The company is backed by Tencent and Alibaba , and it wants to raise somewhere between $400 million and $500 million.

Thailand strives to catch up to Asian markets on digital banking

Payments Source

Thailand is laying the foundations for standalone digital banks as it strives to catch up with other Asian markets that are allowing such changes, according to its central bank governor. Digital banking Compliance Digital payments Thailand

Retail Pulse: Luckin Taps Into Automated Retail; Little Caesars To Team With DoorDash

PYMNTS

Coffee retailers are tapping into digital technology that helps them grow their reach beyond their stores, especially in China, where competition has been brewing between Chinese coffee chain Luckin Coffee and Starbucks.

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Are You Using Your Credit Reports Illegally?

New York's State of Mind

I’m asking this question to highlight an enforcement action announced by the CFPB yesterday against several companies which, if the allegations are true, blatantly violated several sections of the Fair Credit Reporting Act (FCRA) by obtaining credit reports under false pretenses and passing them around like stewardesses pass out airline peanuts. I want to highlight the […].

A New B2B FinTech Unicorn, And More Funding Ahead

PYMNTS

B2B technology startups continue to gain valuable attention among venture capitalists.

Banks best Big Tech on trust, but not much else

American Banker

Silicon Valley giants are better innovators, software developers and data managers, but banks' inherent advantages shouldn't be discounted, says Sonny Singh, a senior vice president at Oracle.

Bitcoin Daily: Deribit Crypto Exchange Flees Netherlands’ Tight Regulation; Illinois Now Recognizes Blockchain Contracts As Legally Binding

PYMNTS

Deribit , a popular global cryptocurrency options exchange, is moving to Panama in February to sidestep the Netherlands’ upcoming regulation changes on the industry, according to Bloomberg.

10 fintech forecasts for the ‘20s

American Banker

A seasoned investor in startups offers his top predictions for the coming decade. Among them: Big tech firms will become big players in financial services. Fintech Fintech regulations E-Commerce Big data Blockchain Branch management Bitcoin Payments

Equinox Seeks Cash Infusion To Build Out Digital Platform

PYMNTS

Luxury fitness company Equinox seeks additional financial support as it maneuvers to expand its online platform. The SoulCycle majority owner is currently in “advanced conversations” to obtain more funding.

Can California's mini-CFPB pick up slack left by federal agency?

American Banker

Former CFPB Director Richard Cordray and consumer advocates have designed a proposed state consumer agency that would subject more financial firms and fintechs to state oversight.