Thu.Sep 05, 2019

The real reason for a regulatory sandbox … avoiding death and mayhem

Chris Skinner

I just spoke at Russia’s Eastern Economic Forum, a Davos for the Russian world and beyond. Hosted by Vladimir Putin there were stellar guests attending including Prime Minister Narendra Modi of India and Prime Minister Shinzo Abe of Japan, as well as other world leaders and Chris Skinner.

Why the insurance industry should prioritize digital payments

Mobile Payments Today

The insurance industry needs to consider how their payments technologies match up with increasingly disruptive trends in the financial services space

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Things worth reading: 6th September 2019

Chris Skinner

Things we’re reading today include … A new digital bank is scooping up teenage customers before big banks get to them Smile-to-pay: Chinese shoppers turn to facial payment technology Names and phone numbers of 18m British Facebook users found online, prompting privacy watchdog probe UK slips closer to recession as … The post Things worth reading: 6th September 2019 appeared first on Chris Skinner's blog. Reading

Blockchain-Friendly Smartphone Introduced By Samsung


Samsung ’s latest Galaxy Note 10 aims to boost blockchain adoption by making it more user-friendly, The Wall Street Journal reported Thursday (Sept. The new product will be marketed as a “KlaytnPhone,” named after a South Korean blockchain platform, sources told the WSJ.

Building a Future-Ready Billing and Settlement System

Mobile Payments Today

FSS helps a leading processor in Jordan to modernize its billing and settlement infrastructure

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China Central Bank Readying Crypto Launch?


In China, the central bank will debut a state-backed cryptocurrency that initially will be issued to seven institutions in that country, Forbes reported this week. The news comes from Paul Schulte, who was head of financial strategy for China Construction Bank.

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Nilson Report: U.S. Payment Card Market Tops $6T 


Commercial and consumer cards issued in the U.S. generated $6.13 trillion in spending for goods and services in 2018, The Nilson Report said in a press release Thursday (Sept. Commercial card spending is up 11.7 percent, compared to consumer card spending, which grew by 10.1 percent.

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PayActiv adds instant payday advances to lure more employers to its platform

Bank Innovation

PayActiv is tapping into the demand for employee payday advances by linking up with employers to offer the feature directly through payroll. PayActiv’s growth is evidence of the strong demand for payday advance services.

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Amazon Gives Biometric Payments A Hand — In The Store


Biometric payments are making another run at the grocery store, this time at the hands or Amazon. Or, to be more precise, in the hands of Amazon’s customers.

“We Spent All This Money on Software, Why Aren’t People Using It?”


When a community financial institution spends a lot of money on technology, the last thing management wants is to be disappointed. It’s actually the last thing the technology provider wants as well – if the vendor plans to stay in business. The good news is that financial institutions can take several steps to ensure they avoid troublesome software integrations, says Steven Martin of Marcato Advisors, a bank consulting firm focused on achieving success with fintech.

SWIFT Reveals New API Standard For Pre-Authorization Of Funds


A new API standard for the pre-authorization of funds is being rolled out by SWIFT, clearing a path for a revolution in financial services enabled by open banking, the company said in a press release on Thursday (Sept. API standards accelerate the introduction of new services.

Stopping MoviePass-style breaches is a two-front battle

Payments Source

There's equal importance on encrypting data and securing the server, says STEALTHbits Technologies' Adam Laub. ISO and agent Data breaches Payment processing Payment fraud

Facebook Launches Dating Service In US


Facebook has announced the launch of Facebook Dating, created to gives users “a more authentic look at who someone is.” ” The service is launching in U.S.

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Starbucks CEO’s new ideas start with a pickup only store in NYC

Payments Source

They’ve scrapped the newspapers and beefed up the food, but most Starbucks cafes in the U.S. don’t look all that different today than they did a decade ago. That’s about to change. Mobile payments Retailers Digital payments Starbucks

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SCA Delay: A Payments Opportunity In Disguise?


Opportunities come in various forms and disguises, and that could be the case for payments and commerce operators when it comes to the European Union’s revised Payment Services Directive (PSD2) and its strong customer authentication (SCA) rules.

Building a Future-Ready Billing and Settlement System

ATM Marketplace

FSS helps a leading processor in Jordan to modernize its billing and settlement infrastructure

SMB Spend Management Revs Up For A New Decade


Payments and cash flow can be the difference between life and death for small and medium-sized businesses (SMBs), This also applies to expense and spend management, which have a massive impact on cash flow.

How can Banks Balance Digital Transformation with IT Costs?

ATM Marketplace

Digital transformation can mean huge IT costs. While traditional banks are absolutely right to invest, how can they do it in a way that doesn’t overstretch their budget? Discover Auriga’s top tips for banks saving money while future-proofing their business


Stripe Rolls Out New Product To Help Online Businesses Tap Funds


Stripe announced Thursday (Sept. 5) the launch of Stripe Capital to simplify the way internet companies can access funds. It remains difficult for online businesses to get access to capital.

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The Rise of Vietnam – the new Asian Innovation hub

Daily Fintech

Poor existing banking infrastructure? No major Unicorns from the local ecosystem? – No problem. The rise of Vietnam as an innovation/Fintech hotbed is a fascinating trend. A tech savvy population, supportive government regulations, and high smartphone penetration – a great combo that has done wonders to several countries across the world. Image Source Vietnam ranks […]. The post The Rise of Vietnam – the new Asian Innovation hub appeared first on Daily Fintech.

Biometrics And Beyond For Call Centers


The latest Call Center Commerce Tracker looks at how call centers are using artificial intelligence (AI) and biometrics to keep customers satisfied and safe, as well as new voice and visual trends.

Device Overload

Breaking Banks

Brett King hosts Dr. Julie M. Albright , the bestselling author of Left to Their Own Devices: How Digital Natives Are Reshaping the American Dream , talks to us about how devices are changing our behavior and the world around us, and how children are adapting to this future world.

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Western Union, TRUE North Team For Streamlined Tuition Pay


Western Union is teaming up with TRUE North to offer students a simplified payments platform to pay tuition and expenses, Western Union said in a press release on Thursday (Sept. The new process will help funds to arrive on time and in full, without hidden charges to the educational institution. “We

FDIC: Bank Earnings Grow 4.1% Year-on-Year

ABA Community Banking

FDIC-insured banks and savings institutions earned $62.6 billion in the second quarter, a 4.1% increase from the industry’s earnings a year before, the FDIC said today. The post FDIC: Bank Earnings Grow 4.1% Year-on-Year appeared first on ABA Banking Journal.


How AI Makes Claims Payouts Faster And Smarter


Seventy percent of gig economy workers are still living paycheck to paycheck, despite pulling in more money than ever. Instant payments and disbursements are therefore only growing more integral to every facet of the gig economy ecosystem. Nearly 40 percent of U.S.

FedNow poses a threat to 'fast' fintechs

Payments Source

The "public option" for faster payments could eat into the business model of payment startups, says Pryor Cashman's Jeffrey Alberts and Dustin Nofziger. ISO and agent Faster payments Digital payments Fintech Payment processing Federal Reserve

Grab Accelerates AI Expansion With $150M


Grab is planning to earmark $150 million for additional research into artificial intelligence (AI), Bloomberg reported on Thursday (Sept.

Morning Brief 9.5.19: Mastercard joins R3's Marco Polo blockchain

Payments Source

The information you need to start your day, from PaymentsSource and around the Web. Today: Mastercard joins a blockchain project; Alibaba preps an e-commerce acquisition; Jack Dorsey has no plans for his own crypto; Apple Pay adds Southwest support. Briefing

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FinTech Chipper Cash To Expand Into Nigeria


Chipper Cash, a no-fee, cross-border payment company started by Ham Serunjogi and Maijid Moujaled, has expanded into Nigeria, according to a report.

Stripe targets e-marketplaces to battle Square in merchant credit

Payments Source

Stripe is joining the throng of providers offering merchant loans based on payment receivables with Stripe Capital, a service for e-commerce companies already using Stripe for payments processing. Small business Lending Digital payments pso cardline lead 1 Stripe Square PayPal

YouTube Debuts Fashion And Beauty Vertical 


YouTube has launched a brand-new fashion vertical meant to take advantage of all the massively popular beauty and style content on the platform, according to a report.

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