Payments Dive

APRIL 25, 2019

PayPal and Visa reported strong earnings in the first quarter of 2019, with PayPal breaking out Venmo numbers for the first time.

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Report 332

Chris Skinner

APRIL 25, 2019

Things we’re reading today include … No More Happy Hour: Japan Bank Boss Takes Aim at Drinks Culture Is it time the Bank of England had a woman governor? Invesco counts the cost of uncertainty over Brexit Extinction Rebellion protesters stop traffic in City of London Deutsche Bank and Commerzbank … The post Things worth reading: 26th April 2019 appeared first on Chris Skinner's blog.

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PYMNTS

APRIL 25, 2019

Back in the golden olden days of print newspapers, bad guys would regularly read the obituaries, then craft a plan to break into houses and steal valuable items during the wake or funeral. But like most analog businesses, this criminal model has gone digital. Today, the internet makes discovering and then executing creative ideas not much more than a mouse click away — which makes exploiting death for the purposes of identity fraud easy, too.

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Fraud Strategy Cards Analysis 226

Chris Skinner

APRIL 25, 2019

In closing this Earth Day week, I thought I’d rectify yesterday’s depressing news about banks funding the end of our planet to talk about the banks that are doing the opposite. In fact, there are many initiatives that are trying to create finance for good from community currencies to Long … The post Doing good … find out more (a final Earth Day update) appeared first on Chris Skinner's blog.

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Community 211

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Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper

Lending

Bank Innovation

APRIL 25, 2019

WASHINGTON, D.C. — Fintechs are having trouble facing reality when it comes to obtaining bank charters, FDIC Chairman Jelena McWilliams and Comptroller of the Currency Joseph Otting said here at the FDIC’s Fintech and the Future of Banking conference on Wednesday. Both regulators said proving the necessary capital and profitability have been particularly difficult for […].

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Fintech FDIC Washington Conference 186

Bank Innovation

APRIL 25, 2019

PayPal's P2P service Venmo has exceeded analysts' first-quarter estimates in two key areas: annual revenue run rate and number of users, according to statements from PayPal's Q1 earnings call on Wednesday. Venmo's annual revenue run rate coming out of Q1 2019, PayPal said, exceeded $300 million, compared to the more than $200 million annualized revenue […].

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Retail Payments 186

PYMNTS

APRIL 25, 2019

In Asia, news came this week that petroleum firm PTT Exploration and Production (PTTEP), the biggest company in the country, is linking with Ripple , with an eye on cross-border transactions. As reported , PTTEP and Siam Commercial Bank (SCB), in conjunction with Ripple, will use the latter’s system for the first time in a B2B format. SCB had been the first commercial institution to use the RippleNet “multi-hop” functionality to settle payments for other financial institutions (FIs) on that netw

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Payments blockchain Cards Company 191

Bank Innovation

APRIL 25, 2019

The biggest bank merger since the financial crisis — February’s $28 billion tie-up between BB&T Corp. and SunTrust Banks Inc. — was supposed to spark a wave of copycats. Industry CEOs must have missed the memo. “M&A is not on our minds at this point,” KeyCorp Chief Executive Officer Beth Mooney said last week in […].

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Industry Operations Regional Retail 150

PYMNTS

APRIL 25, 2019

Footwear giant Nike has submitted an application to trademark the term “cryptokicks,” according to reports. The application was filed on April 19, and in it the company also describes a potential digital currency, and how it would be used online. It also talks about an online marketplace for shoes and clothes, and “a website featuring technology that enables users to mine, earn, purchase, receive by any other means, store, and transfer blockchain-based tokens, coins, cryptocurrencies, and other

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cryptocurrency blockchain Online Software 173

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In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202

Report

Payments Source

APRIL 25, 2019

Financial institutions lack the puzzle pieces for giving their users a good customer experience within their mobile apps, leaving many dissatisfied and looking for a new solution from payment apps and fintechs, contends James Brown, CEO of Smart Communications.

Mobile 115

Mobile Fintech Customer Experience Payments 115

PYMNTS

APRIL 25, 2019

Intuit’s QuickBooks is introducing a new feature designed to accelerate payments and cash flow for small businesses. In a press release today (April 25), Intuit announced a new capability for QuickBooks to support Next Day ACH payments for small to medium-sized businesses (SMBs), an addition to QuickBooks’ range of services that enable stronger cash flow for users, according to Intuit Business Leader for QuickBooks Payments and Capital, Rania Succar. “With the addition of Next

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Payments Survey Study Cards 171

Payments Source

APRIL 25, 2019

Generation Z is scarred by the financial crisis, but has an awareness of technology that gives payment and financial companies a point of entry, according to Mickey Goldwasser, vice president of marketing at Payrailz.

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Innovation Payments Technology Marketing 105

PYMNTS

APRIL 25, 2019

A report has revealed that Samsung is planning to develop its own proprietary blockchain network, as well as launch its own cryptocurrency token. Citing a source who is “familiar with Samsung’s internal situation,” CoinDesk Korea reported that the South Korean company’s blockchain task force is working on an ethereum-based blockchain network. However, the project is currently in the “internal experimental” stage.

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Samsung blockchain cryptocurrency Bitcoin 170

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Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.

Lending

Bobsguide

APRIL 25, 2019

The adoption of contactless cards is being dwarfed by that of alternative payment methods in the US, according to market participants.

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US Cards Mobile Marketing 117

PYMNTS

APRIL 25, 2019

To provide a more enjoyable shopping experience and control costs, Walmart is testing ways to digitize its brick-and-mortar stores. The retailer is officially opening its Intelligent Retail Lab at a Long Island Neighborhood Market grocery store location, the Associated Press reported. Through the digital efforts, ceiling cameras and shelf sensors will enable workers to fix problems and restock items efficiently.

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Texas Retail New York Technology 168

Payments Source

APRIL 25, 2019

Visa’s not worried about the massive consolidation that’s sweeping the payments industry, seeing it as a force to extend payments innovation globally.

Payments 101

Payments Innovation Industry Cards 101

PYMNTS

APRIL 25, 2019

While the majority of people over the age of 35 are likely less than inclined to think of video game play as a sport, the numbers say otherwise. In 2016, eGaming was a $493 million industry, and in 2017 (the last year for which data was available), that had jumped to $655 million. Most estimates for 2018 are around $900 million. The term eSports can refer to a wide range of games in the competitive space, but in general the most popular ones are in the first-person shooter or multi-player online

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Retail America Video Millennials 166

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Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Insights on Business

APRIL 25, 2019

Sales primarily drive business growth. However, businesses know that hiring the best sales talent is just the start of the journey; retaining well-suited employees is often a highly challenging undertaking. Problems related to compensation and bonuses can negatively impact employee performance and even compel them to leave for greener pastures. Addressing these challenges and ensuring strong, long-term sales revenue to drive growth is the focus of today’s advanced sales performance management (S

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Meeting Compliance Management Strategy 87

PYMNTS

APRIL 25, 2019

Consumer dependence on smartphones is often derided as a distraction, but they have also become a vital mobile shopping and buying tool – whether in-store or from a living room sofa. mCommerce isn’t one-dimensional. Consumers shop everywhere at anytime, and no two mobile users have the same behavior. However, according to the Remote Payments Study conducted by PYMNTS in September 2018, behavior habits are shared by consumers based on income, age and gender.

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Study Mobile Payments Cards 165

Payments Source

APRIL 25, 2019

Starting in December 2016, fast-casual salad chain Sweetgreen stopped accepting cash at restaurants across the U.S. The move was immediately controversial, but it took more than two years for the company to reverse the decision.

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Company Compliance 90

PYMNTS

APRIL 25, 2019

PayPal ’s venture capital arm has invested $11 million in online returns service Happy Returns. The funding is the largest round to date for the company, bringing Happy Returns’ total raise to $25 million. “It’s a huge validation for us,” Happy Returns Co-Founder and CEO David Sobie said in an interview, according to CNBC. “It speaks to the broader challenge or mission PayPal has, to make eCommerce as easy and frictionless as possible.”.

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Online America Capital US 164

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Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.

Compliance

CFPB Monitor

APRIL 25, 2019

On April 23, 2019, the CFPB announced that it will provide more transparency to recipients of Civil Investigative Demands (“CIDs”) on what the investigation is about. The CFPB’s press release stated that “CIDs will provide more information about the potentially applicable provisions of law that may have been violated. CIDs will also typically specify the business activities subject to the Bureau’s authority.”.

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Policies Industry 74

PYMNTS

APRIL 25, 2019

Vocalink is teaming up with Saudi Payments to launch real-time payments in Saudi Arabia, reports in Thomson Reuters Zawya said Thursday (April 26). A press release said that Vocalink , a Mastercard company, is collaborating with Saudi Arabian Monetary Authority (SAMA) subsidiary Saudi Payments to introduce real-time payments capabilities within Saudi Arabia.

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Payments National Strategy Management 149

Payments Source

APRIL 25, 2019

The information you need to start your day, from PaymentsSource and around the Web. Today: Blockchain B2B advances in China; Brave adds new ad incentives; New crypto wallet; New York prosecutors win a bitcoin laundering case.

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New York Bitcoin blockchain 73

PYMNTS

APRIL 25, 2019

The Consumer Financial Protection Bureau (CFPB) announced Thursday (April 25) that it has issued a request for information on its remittance rule, which had faced calls by the Credit Union National Association for revision. The CFPB said in a press release that the government watchdog is looking for information about changing the definition of the remittance transfer providers the rule covers and is looking at the extension of a temporary exception to the rule.

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Meeting Course Regulation National 148

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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.

Lending