Sun.Jan 12, 2020

China and India in 2020: Watch and Learn

Chris Skinner

I often written about how the developing world is leap-frogging the developed world. The reason is that the developing world had no infrastructure in place whilst the developed world implemented their infrastructure in the last century. The developed world has become a legacy world.

Mastercard turns to AR to visualize loyalty benefits

Bank Innovation

Payments giant Mastercard launched a new augmented reality (AR) app this month that lets cardholders get a bird’s-eye view of their benefits. It’s a move that the company hopes will drive engagement and loyalty, and add value to the offerings of its partner financial institutions. “At

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Things worth reading: 13th January 2020

Chris Skinner

197
197

Challenger bank hype will result in better products, says Edison Partners

Bank Innovation

The rush to be the best bank-type platform has created a crowded market, both in the business-to-business and direct-to-consumer fintech sectors. Investors are placing their bets on tools that will gain wide adoption, creating a high bar for founders and product developers.

Visa Tap To Phone Expands POS Acceptance For Retailers

PYMNTS

The mPOS landscape got more interesting today (Jan. 12), as Samsung has unveiled its Galaxy XCover Pro, an enterprise-grade smartphone that comes pre-installed with Visa’s Tap to Phone app.

Retail 204

Wirecard partners with Sprint to drive cashierless checkout

Bank Innovation

As cashierless shopping continues to gain momentum with Amazon Go and its competitors, German payments company Wirecard is partnering with Sprint to develop a similar experience for its clients.

Colombian Regulators Order Uber To Shut Down

PYMNTS

Uber will cease operating in Colombia at the end of the month, the company said in a statement. The decision — the latest blow to the rideshare company — comes after protests from Colombian taxi drivers that Uber was breaking the rules of the country’s taxi market.

More Trending

Wells Growth Hampered By Outdated Systems, Tech Failures

PYMNTS

Wells Fargo is striving to revamp its approach to technology to ensure systems stay online, satisfy regulators and block cybercriminals, the Wall Street Journal (WSJ) reported on Saturday (Jan.

System 200

As final EMV deadline nears, gas stations get inventive

Payments Source

After getting a reprieve from a 2017 deadline, gas stations now have less than a year to upgrade to EMV security at the pump — and the card brands aren't showing signs that they will be willing to postpone this mandate another time.

Google To Tighten Android Security For Password, Payment Autofills

PYMNTS

Looking to tighten up security, Google is exploring adding biometric scans for password and payments to its Android Autofill options. The move, according to Android Central , will attempt to address concerns that Google’s password protection has often been less secure than it could be.

Google 192

What could kill Bitcoin?

Daily Fintech

Defining what life is has always been a challenge. Scientists and philosophers have come up with many definitions to differentiate the living from the non-living. Are viruses alive? DNA molecules? Computer viruses?

Security Group Warns Iranian Hackers Could Target US Electric Utilities

PYMNTS

Iranian hacking groups are targeting U.S. electric systems , and intelligence officials worry that escalating tensions between the two countries could only make things worse in the future.

Groups 184

Payment tech is just as much part of the back office as the front line

Payments Source

By linking your POS to inventory management software, you can easily keep an eye on the amount of product you have and note when it’s time to restock or purchase from your distributors, says Bank of America Merchant Services' Sydney Ivey. Retailers Point-of-sale ISO and agent Payment processing

Senate Affirms Trump’s Jovita Carranza As SBA Chief

PYMNTS

President Trump has tapped Jovita Carranza to lead the Small Business Administration (SBA), a move confirmed by the Senate in a bipartisan 88-5 vote, The Hill reported.

Banks try pooling resources to help defray AML costs

American Banker

A North Carolina group is trying to take regulators' cue to work together. A successful effort could encourage others to follow its lead. Community banking AML Mutual banks North Carolina Ohio

Casper Warns Social Media Celebs Could Pose Investment Risk

PYMNTS

mattress-in-a-box company Casper has underscored the increasing power of social media influencers to propel or hinder brands. The firm, moreover, cited its own digital advocates as a potential risk factor to its initial public offering (IPO).

11 bankers and disruptors to watch in 2020

American Banker

Can Charlie Scharf fix what ails Wells Fargo? How will Kelly King and Bill Rogers manage the integration of the biggest bank merger since the early 2000s? And will New Jersey Gov.

Goldman Launches Mobile App For Marcus — Three Years Later

PYMNTS

Goldman Sachs Group introduced its long-awaited app last week, according to Reuters. It will integrate with the financial giant’s digital bank Marcus. Loyal customers wishing to use smartphones for financial transactions have been frustrated by the company’s lack of an app until now.

The Future of Banking Has Arrived

The Financial Brand

The future of banking already exists in China where customer insights, technology and experiences intersect. The post The Future of Banking Has Arrived appeared first on The Financial Brand.

Convenience Stores Elevate Their Food And Bev Offerings

PYMNTS

America’s eating habits are seeing a shift towards gas stations and convenience stores, as many peoples’ favorite eateries include chains like Wawa , Sheetz and Kwik Trip now.

Study 158

How Personalization Strategies Can Backfire on Financial Marketers

The Financial Brand

No strategy, poor execution and even 'algorithmic hacking' can doom banking efforts to personalize marketing via artificial intelligence. The post How Personalization Strategies Can Backfire on Financial Marketers appeared first on The Financial Brand. Featured Content Segmentation Strategies

Hong Kong’s First Neobank Lures Consumers With High Deposit Rates

PYMNTS

The first in a new line-up of 10 digital-only banks in Hong Kong has sweetened its consumer appeal with a 6 percent introductory rate for deposits. ZA Bank will pay a select depositors more than 3 percent above other banks, such as HSBC and Standard Chartered, according to Bloomberg.

Cards 151

How Personalization Strategies Can Backfire on Financial Marketers

The Financial Brand

No strategy, poor execution and even algorithmic hacking can doom banking efforts to personalize marketing via artificial intelligence. The post How Personalization Strategies Can Backfire on Financial Marketers appeared first on The Financial Brand. Featured Content Segmentation Strategies

Standard Chartered Backs China’s Linklogis

PYMNTS

British bank Standard Chartered is investing an undisclosed amount in China’s supply chain platform Linklogis , earning an equity stake, and further enhancing its ongoing partnership, Standard Chartered announced. Corporate clients globally are increasingly looking for efficient and secure digital platforms to meet their supply chain financing needs.

Banks & Credit Unions Facing Mortgage Headwinds With Millennials

The Financial Brand

Younger adults are growing desperate for houses. The math challenges many lenders, but can they afford to hand this huge market to fintechs? The post Banks & Credit Unions Facing Mortgage Headwinds With Millennials appeared first on The Financial Brand. Featured Content Lending Strategies Segmentation Strategies

Google Pay Co-founders’ Indian Neobank Has Raised $13.2M

PYMNTS

Two co-founders of Google Pay in India have raised $13.2 million in a Seed funding round for its neo-bank epiFi, led by Sequoia India and Ribbit Capital, TechCrunch reported on Sunday (Jan. Also participating in the funding rounds were David Velez, Kunal Shah and VC fund Hillhouse Capital. Sujith Narayanan and Sumit Gwalani, both co-founders of Google Pay India — formerly called Google Tez — said the seed funding brings the neo-bank startup epiFi to a valuation of roughly $50 million.

Google 122

Wirecard Chairman Resigns After Resisting Calls For Audit

PYMNTS

Following months of debate, Wirecard chairman Wulf Matthias, citing personal reasons, has stepped down, the Wall Street Journal reported on Saturday (Jan. Matthias, who has served as chair since 2008, will be succeeded by Thomas Eichelmann, a board member since 2019 and the head of its audit committee. Matthias will stay on the board until his term expires in 2021.

Fraud 122