Mon.Jan 11, 2021

Mastercard Launches Pilot Program Using Smartphones As POS Devices

PYMNTS

Mastercard is testing a cloud-based setup that will “enable contactless payments acceptance via a mobile phone.”

Identity Fraud in the Digital Age

Mobile Payments Today

The Identity Fraud in the Digital Age report, developed by Javelin Strategy & Research and sponsored by GIACT, details the challenges of preventing new and emerging fraud threats and what businesses should consider in their fraud prevention strategies for the year ahead

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Affirm Aims At Over $10 Billion Valuation In New IPO Filing

PYMNTS

Buy now, pay later (BNPL) platform Affirm boosted the price range of its initial public offering (IPO), potentially raising $1.08 billion, according to a Monday (Jan. 11) filing with the Securities and Exchange Commission (SEC). The Silicon Valley startup is planning to offer 24.6

Changing Landscape of Identity Fraud: Fraudsters Strike Back

Mobile Payments Today

According to Javelin Strategy & Research’s 2019 Identity Fraud Study, the total amount of identity fraud in 2018 amounted to $14.7BB and impacted 14.4MM adults in the U.S. — more than 5% of the total population. In 2020, amid the COVID-19 pandemic, the impact of fraud was higher than ever

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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.

Payments as a Service, Ready for Prime Time?

PYMNTS

These days, with the emergence of the cloud, open banking and application programming interfaces (APIs, the moniker “as-a-Service” applies to pretty much any business function that is now able to be outsourced to a third party.

More Trending

Rebranded Citizens Pay Expands POS Merchant Services

PYMNTS

Providence, Rhode Island-based Citizens Financial Group is advancing the reach of its national point-of-sale (POS) offering for merchants, renaming it Citizens Pay, the company announced Monday (Jan. 11). .

CDFIs Kick Off PPP Loan Submissions

Abrigo

Plus what waiting lenders can do The latest round of the Paycheck Protection Program began with a head start for institutions aiding low-income areas.

Cryptocurrency Market Tumbles; Bitcoin Falls 12 Percent

PYMNTS

The price of bitcoin kept going up and up and up for months — to a high of more than $40,000. Then, on Monday (Jan. 11), the market came crashing down. CNBC reported that bitcoin (BTC), the largest cryptocurrency by market capitalization, fell over 12 percent from a day earlier, to as low as $30,863.

Experian warns of facial recognition, synthetic ID fraud

Payments Source

The widespread shift to e-commerce and touchless payments during the pandemic has escalated fraud risk in those channels, including the possibility of fraudsters combining altered photos with synthetic ID, Experian warns. Fraud detection Biometrics Digital ID

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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!

Neobank Revolut Applies For UK Financial Services License 

PYMNTS

British challenger bank Revolut has submitted a banking license application to the U.K. Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). Nik Storonsky , founder and CEO at Revolut, said in a press release on Monday (Jan. 11) that having a U.K.

Market Commentary: Week of January 11, 2021

SWBC's LenderHub

Last Week: Last week was definitely one for the books. We got going on Tuesday as the Georgia senatorial runoff surprised by flipping both seats Democratic. Suddenly, the pre-presidential election “Blue Wave” trade was back on. This brought back the expectation of heavy government stimulus spending.

Retail Rents Falling From Manhattan To Los Angeles

PYMNTS

COVID-19 and the digital-first trend are sending U.S. retail rents falling in many locales by percentages even greater than those seen in or after the 2007-08 Great Recession.

7 Questions & Answers to Help You Turn Up the Efficiency

Strategically Speaking

Let’s take a look at efficiency. To be blunt, it’s never a bad time for financial institutions to look for solutions that can help boost efficiency – especially in a world that’s become accustomed to technology, speed, and convenience.

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.

Pakistan Launches Payment System To Boost Financial Inclusion

PYMNTS

Pakistan has debuted a government-run instant digital payment system to help with financial inclusion and government revenue, Reuters reports. Pakistan has the distinction as a country where only some economic transactions happen on the books.

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Prepaid Revolution part 2: 6 types players in this game and where the puck is headed.

Daily Fintech

Prepaid debit cards are very different from credit cards and traditional bank accounts, as we explained in Part 1. These simple but profound changes have a big impact on all 6 players in this ecosystem: Consumers. You and me and 7 billion other souls on this planet.

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Bitcoin Daily: Britain's Financial Regulator Warns Of Crypto Scams Offering High Returns

PYMNTS

The U.K. Financial Conduct Authority (FCA) said new scams could end up having devastating effects on crypto investors, CoinDesk reported. According to the FCA, investors could lose “all their money” if they invest in crypto products offering high returns, CoinDesk reported.

The pitfalls of the second round of stimulus payments

Payments Source

The original coronavirus stimulus program in 2020 stumbled out of the gate, delaying payments for months and exposing America's lack of universal access to the financial system. With round two, it's the digital rails that are sputtering early on.

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.

Crypto.com Teams Up With Booking.com On Travel Discount Deal 

PYMNTS

Crypto.com has put in an early bet that 2021 will see a rebound in the battered travel market. The Hong Kong-based cryptocurrency and payments platform on Monday (Jan. 11) unveiled a partnership with Booking.com that will dole out sizable discounts to users of Crypto.com’s app.

FrontStream Payments, Salesforce partner to streamline employee charitable donations

Payments Source

FrontStream Payments has integrated its disbursement services with the Salseforce.org Philanthropy Cloud in a move it says should help corporations drive employee engagement in giving through an easier process for making donations. Digital payments Debit cards Credit cards

Trying To Reason With Returns Season: 51 Percent Of Consumers Would Keep Goods For Discounts

PYMNTS

While early to mid-January is always the return season, this year has long been forecast to be a spot more active than its predecessors given the volume of gifts bought online during the 2020 holiday rush. And as that tidal wave crashes down, retailers are responding in a perhaps unexpected way.

Mastercard pilots Cloud Tap on Phone for small businesses

Payments Source

In a bid to expand contactless card acceptance, Mastercard is testing its Cloud Tap on Phone tech with Napa, Calif.-based based IT services provider Computer Engineering Group (CEG). Contactless payments Mobile point-of-sale Mastercard

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.

Snap To Buy Digital Mapping Startup StreetCred; Adds To Location Strategy

PYMNTS

Snap , parent of social media company Snapchat , has bought New York City-based StreetCred , which is working on a platform for location data, according to a report from Business Blockchain HQ.

Affirm boosts IPO price range to raise up to $1.1 billion

Payments Source

Affirm Holdings Inc., which provides installment loans to online shoppers, increased the price range for its initial public offering, seeking to raise as much as $1.1 billion when it goes public this week. Affirm Lending

Blockchain Unchained: Paxos CEO Sees Expanded Role For Token-Based Digital Assets

PYMNTS

Although blockchain technology and Bitcoin, its best-known inhabitant, have been around for 10 years, the world is just now entering a seismic transition from holding account-based assets to a system that uses token-based digital assets.

Revolut applies for U.K. banking license

Payments Source

Revolut Ltd., one of Europe’s largest startups, has asked U.K. regulators for a full banking license to fuel expansion beyond its fintech roots. Digital banking Compliance

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.