Tue.Feb 05, 2019

Walmart India Head Upbeat About eCommerce Prospects

PYMNTS

Walmart India President and CEO Krish Iyer expects the eCommerce market in India to explode during the next decade. According to a report in Money Control citing Iyer, the executive expects the online retailing market to see growth of six times to reach 12 percent during the next decade.

Restoring trust with customers in a mobile world

Mobile Payments Today

How retailers can regain trust with customers in a time of heightened risk

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CoverHound Raises $58M For Expansion Of Insurance Platform

PYMNTS

CoverHound, the online property and casualty insurance platform operator, announced Tuesday (Feb. 5) that it raised $58 million in venture funding.

2019 Looks Promising for Fintech Partnerships, Bank Innovation Poll Finds

Bank Innovation

There are startups that want to destroy banks and startups that want banks to buy their software, as Bank Innovation has previously reported.

Facebook Hires Team From Chainspace Amid Blockchain Push

PYMNTS

Facebook is making a big push into blockchain technology with some new hires, according to reports. The company recently hired four people who were instrumental in the blockchain startup Chainspace , and has also been investing a lot of money and resources in the technology.

Amex and Mastercard Zeroing In on Businesses with New Partnerships

Bank Innovation

Today American Express and Mastercard launched new offerings geared toward business clients.

Onward Financial’s Employer-Backed Payday Loan Alternative

PYMNTS

You know the story. Critics say that short-term, small-dollar loans push consumers into the hamster wheel of a never-ending debt cycle – one that turns a two-day bridge to cover a shortfall into a six-month mosh pit of fees that can become hard to dig out from under. “I

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Amazon Pantry Reboots In India Under New eCommerce Laws

PYMNTS

On Feb. 1, new eCommerce rules in India began limiting what online retailers like Amazon and Flipkart can sell in the country. Now, Reuters is reporting that Amazon’s grocery service is active again, but it’s off to a slow start.

IBM emerges strong in the Forrester Wave for Sales Performance Management 2019

Insights on Business

Forrester Research, one of America’s preeminent market research organizations, has named IBM as one of the “most significant” and also as one of the “eight providers that matter most” for 2019 in sales performance management (SPM).

Zcash Bug Could Have Been Used To Create Infinite Tokens

PYMNTS

The team behind Zcash, a cryptocurrency that touts enhanced privacy for its users, revealed that it fixed a bug that could have been used to counterfeit unlimited coins, according to reports.

BI Ignite 2019 DEMOvation Application Deadline is Friday

Bank Innovation

Time is running out to apply for Bank Innovation’s DEMOvation Challenge, in which fintech startups demo before a crowd of conference attendees in hopes of earning their vote and walking away with prizes. The application deadline is Friday, February 8. Apply here.

Venezuelan Money Supply Rises Amid Protests, Uncertainty

PYMNTS

Money supply in Venezuela is increasing faster than it ever has before, according to a report from Bloomberg. Currency supply in the country grew by 31 percent in the week of Jan. 25, and that amount is the fastest expansion since 1997.

Things worth reading: 6th February 2019

Chris Skinner

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Will Slack’s Direct IPO Be A Direct Hit With The Street?

PYMNTS

For the stock market, 2018 seems so rear view mirror, among the worst years in a decade. As of this writing the tech-heavy NASDAQ Composite Index is up 11.5 percent. The broader S&P 500 Stock Index is up 8.8 percent.

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SunTrust’s LightStream Originations Top $2B

Bank Innovation

SunTrust Banks’ fintech investment LightStream delivered $2 billion in originations in 2018, Allison Dukes, the bank's chief financial officer, said during a fourth-quarter earnings call. LightStream originations as a percent of consumer originations excluding mortgage was about 25% in 2018,” Dukes said, noting that the fintech helps improve overall growth and returns within the bank’s […].

Neiman Marcus Names Two Execs As It Builds Luxury Platform

PYMNTS

Neiman Marcus Group announced Tuesday (Feb. 5) the appointment of two executives to lead its customer and store strategies.

What The Rise Of ‘Open Banking’ Means For Fintech

CB Insights

The UK’s Open Banking Framework has become a global source of inspiration. Regulators around the world are using Europe’s playbook to adopt an open standard for accessing bank data via Application Programming Interfaces (APIs). The goal is to give consumers more choices by increasing competition between banks and fintech startups. One of the fastest-growing cohorts of companies are digital-first banks, or challenger banks , that have leveraged open APIs to build their products.

THE LIST Teams With BitBay Pay; Monese Rolls Out Apple Pay Support

PYMNTS

Welcome to The Axis, your late look at payments news from around the world. Coverage includes U.A.E. based THE LIST bringing crypto payments to its platform. Monese added support for Apple Pay for personal cards in the U.K.

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Square launches SMB Card and POS platforms hit payday

Daily Fintech

This week Mastercard launched a report in collaboration with CB Insights where it made the not so terribly startling prediction that SMBs would ‘become the next battleground for fintech’ in 2019.

Tidal Music Streaming Service Now Accepts Venmo

PYMNTS

Tidal, the music streaming service owned by Jay-Z, now accepts Venmo as a way to pay for the service, according to reports. The announcement is the latest in a number of collaborations for the PayPal-owned app, which has also made deals with Shopify, Uber and Hulu.

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Need BI? Get Trusted Analytics Advice by Experts, for Experts

Perficient Financial Servies

When it comes to business intelligence, where do the experts go to learn? The answer is Perficient. Since the SIMON app launched, Perficient has been on the road with AllianceBernstein and MicroStrategy sharing how to turn analytics into action.

Online Sports Betting Gets A Super Bowl Workout

PYMNTS

As the New England Patriots and their fans prepared for their latest Super Bowl victory parade on Tuesday (Feb. 5), details emerged about the success and failure of the new online sports betting regime in the U.S. Now the next major test for sports betting is about to unfold.

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Adaptive Analytics Help EnterCard Cut Fraud Loss Rate 60%

FICO

EnterCard, one of the leading Scandinavian finance companies, has sharply reduced its fraud rate and generated massive savings using the FICO ® Falcon ® Platform to combat payments fraud and communicate with its 1.7 million customers in Denmark, Norway and Sweden.

Target Brings New Personalized Loyalty Program To More Cities

PYMNTS

Since March, Target has been quietly testing a new loyalty program for its members in Dallas. The program, called Target Circle, will now debut in five cities on Feb. 19, according to a report by CNBC. Those five cities are: Phoenix, Kansas City, Indianapolis, Denver and Charlotte, North Carolina.

ATMIA US 2019: 8 essential sessions

ATM Marketplace

There are two good reasons to escape this month to Orlando, Florida. The first is that it’s about the furthest place on the continent from the polar vortex. The second is that it’s the host city of the 20th annual ATMIA US conference, Feb. 19-21

India Banks Could Face Billions Worth Of Bad Loans

PYMNTS

Indian banks, already struggling with roughly $150 billion in bad loans, may have to come up with 400 billion rupees (or $5.59 billion) to cover potential losses from loans that could default from now until September of 2020.

Invoice and fintech's hold on small biz lending pushes banks to modernize

Payments Source

Fintechs and payment startups are creating a range of solutions to SME financing, from crowdlending and invoice-backed factoring to digitalization and formalization of business processes, according to OmniBnk's Andrés Abumohor. ISO and agent Small business lending Fintech Electronic invoicing Payment processing

Lunchr Raises $34M As It Goes After Meal Voucher Market

PYMNTS

Lunchr, the French startup going after the corporate meal voucher market, has raised $34 million in venture funding. According to a report , the startup raised the money in a round that was led by Index Ventures.

CBSL: banks to implement EMV chip tech after ATM fraud

The Paypers

(The Paypers) Sri Lanka’s Central Bank (CBSL) has planned to make it compulsory for all banks to achieve EMV chip-technology compliance, after ATM fraud incidents

Amazon Announces Baby Activity Skill API For Alexa Developers

PYMNTS

Amazon has announced that it is releasing the Baby Activity Skill API for Alexa developers to create baby-related tracking skills for the voice assistant.

Bitfury, Commons Foundation to launch Bitcoin mining centers in Paraguay

The Paypers

(The Paypers) Bitfury Group and Commons Foundation have announced a partnership to launch a network of Bitcoin mining operations in Paraguay

AEVI, Secure Trading In White-Label POS Pact

PYMNTS

On Tuesday (Feb. 5), AEVI and Secure Trading/acquiring.com said they have teamed up to offer a POS solution that focuses on white-labeled, standalone and semi-integrated hardware and services.

Banks and vendors delay Windows 10 migration despite security fears

Bobs Guide

The ATM industry is experiencing a “general delay” in its attempts to upgrade from Windows 7 to Windows 10, despite the deadline being only a year away. “Unfortunately, the ATM industry [is moving] to Windows 10 with a large delay, as hardware vendors only made the Windows 10

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Pro-cash laws gathering momentum in N.J., Philadelphia

Payments Source

The pushback on stores that don’t accept cash seems to be gaining momentum, with Philadelphia the latest municipality to consider a law that would ban cash-free shops. Retailers Compliance Digital payments Cash New Jersey Pennsylvania

A smarter way to report on financial trades?

Bobs Guide

New research by independent financial regulatory think-tank JWG, in partnership with Inforalgo, confirms that financial institutions are struggling to cope with their international trade reporting obligations, as regulatory requirements grow and diverge. Costs are escalating, and the risks of

What Credit Unions Can Learn from the Travel Industry’s Hispanic Experience

Coopera

With snow blanketing the ground and cold winds swirling the arctic air, few things sound better than summer vacation. Can you feel the sun-warmed sand between your toes? Your Hispanic members feel the same way.

N26 integrates Apple Pay for UK customers

The Paypers

(The Paypers) N26 has launched Apple Pay to its customers in the UK, providing them with a new way to pay in stores, in-app, and online via Apple devices

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