Tue.Feb 11, 2020

How PSD2 may ripple across the sea

Mobile Payments Today

What we know is that PSD2 has profound implications for the e-commerce landscape across Europe. However, the implications may reach across the Atlantic, as U.S. merchant with cross-border ambitions need to take notice

US 349

Q: Do investors believe bank digital transformations are succeeding? A: No.

Chris Skinner

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

Mastercard wins approval to join China’s $27T market

Bank Innovation

Mastercard Inc. won approval to set up a bank card clearing business in China, gaining access to a $27 trillion payments market as part of the nation’s financial opening.

Things worth reading: 12th February 2020

Chris Skinner

Varo’s bank charter process a test for consumer banking startups

Bank Innovation

This week, digital banking startup Varo received approval from the Federal Deposit Insurance Corporation, a significant milestone in the company’s three-year quest to become a bank.

How to deliver the seamless bank experience your account holders expect

Mobile Payments Today

A survey of U.S. consumers indicated that 86% of bank account holders expect a seamless experience across channels and devices when conducting banking activities

Survey 253

More Trending

Mastercard Gets Nod To Join China’s $27T Payments Market

PYMNTS

China’s central bank gave Mastercard the go-ahead on Tuesday (Feb. 11) to set up a bank card clearing business, granting access to a $27 trillion payments market, according to reports. .

Digital bank N26 to depart the UK amid Brexit upheaval 

Bank Innovation

N26, the Berlin-based digital-only bank that has raised more than $670 million and gained 5 million users globally, announced Tuesday that it will leave the U.K. The company cited Brexit as the primary reason for the decision, saying it could no longer operate in the U.K.

Uber Creates Uber Money Team In India With FinTech Focus

PYMNTS

In a move that bolsters its financial technology presence in India, Uber has put an Uber Money team into place in Hyderabad. Uber Money teams are also located in Palo Alto, Amsterdam, New York and San Francisco tech centers, Livemint reported.

Wells creates new digital innovation group as part of organizational overhaul

Bank Innovation

As part of a comprehensive organizational overall, Wells Fargo & Co. has created a group to focus on strategy, digital platforms and innovation, The Wall Street Journal reported today.

Groups 241

Coronavirus Concerns Hit Retail Supply Chain

PYMNTS

The phrase “out of stock” is starting to show up in discussions about the coronavirus. As Chinese companies and American companies doing business in China grapple with quarantines and proliferation the disease, U.S. retailers are concerned about a supply chain problem.

Retail 228

Shopify shares soar with payment and point-of-sale financing growth

Bank Innovation

Shopify Inc. reported fourth-quarter revenue that topped analysts’ estimates and gave an optimistic forecast for this year, boosted by holiday shopping and add-on services such as payment and marketing tools. The shares surged the most in almost four years. Sales grew by 47% to $505.2

Tools 222

New Payment Rails Take On Real-Time B2B Friction

PYMNTS

The latest data from Nacha found a new record-high growth rate for adoption of ACH payments , with B2B payments showcasing a surge in adoption of the legacy payment rail that has recently turned to technologies that can augment the service, from the movement of transaction data with an ACH payment to the deployment of Same Day ACH.

Metro 225

Bitcoin ATM makers see an opening as digital currencies come to stores

Payments Source

Traditional ATMs are vanishing in the U.K. and other parts of the world, but there may be a growing market for their crypto counterparts. Blockchain Digital currencies ATMs Bitcoin

ATM 140

Afterpay Hires Ex-Airbnb Official For Global Marketing

PYMNTS

Geoff Seeley, former Airbnb marketing official, is now working with payment company Afterpay as its global marketing leader.

Square combines services to address the modern acquiring market

Payments Source

Square is adding to its menu of services just as long-established competitors embed expanding payments technology into their own product mix. Alternative acquirers Acquirers Square Point-of-sale Retailers

Xero Partners With Square For Faster B2B Payments

PYMNTS

Cloud accounting firm Xero and payments services company Square are collaborating to offer small businesses a tool for faster invoicing and payments, according to reports on Tuesday (Feb.

N26 closing all U.K. mobile banking accounts, blaming Brexit

Payments Source

The German challenger bank said that its "several hundred thousand" customers in the U.K. have until April 15 to withdraw money or transfer it to another account. Digital banking Peter Thiel U.K. Consumer banking

Mobile 131

Zuckerberg To Meet With EU Regulators Prior To Big Tech Proposals

PYMNTS

Facebook CEO Mark Zuckerberg has scheduled meetings with European Union (EU) regulators ahead of an official proposal presentation to create a new framework for Big Tech, Reuters reported on Tuesday (Feb. Zuckerberg will meet with the EU’s digital regulation leaders on Monday (Feb.

Mastercard wins initial approval to join China’s $27 trillion market

Payments Source

Mastercard Inc. won approval to set up a bank card clearing business in China, gaining access to a $27 trillion payments market as part of the nation’s financial opening, though more regulatory steps will be required. Mastercard Payment processing China Credit cards

SoftBank-Backed Brandless Goes Bust

PYMNTS

For its three years in operation, Brandless generated no shortage of buzz with its concept of “private label for less” and the idea that the best brand is no brand at all.

Digital payments help Western Union offset political unrest

Payments Source

Western Union's online strategy is paying off, as web transfers help overcome softness in troubled local markets. Online payments Earnings Western Union P-to-P payments

Household Debt Exceeds $14T After 2019 Spike

PYMNTS

Household debt in the U.S. has reached a 12-year high, rising more than $600 billion last year –the highest since right before the financial crisis more than a decade ago, according to a report by CNBC. In 2019, balances surpassed $14 trillion for the first time.

Maine 196

T-Mobile and Sprint: A merger of mobile payment pioneers

Payments Source

The U.S. telco sector has worked hard to control the mobile wallets developed on its phones. While its earliest efforts didn't last long, companies like T-Mobile and Sprint took decidedly different paths to reach where they are now. Mobile payments Prepaid cards Internet of things Mobile wallets

Mobile 107

How Big Tech Brands Make Businesses An Even Bigger Phishing Target

PYMNTS

New data was released this week with an urgent, albeit not necessarily unexpected, message: ransomware and other phishing attacks continue to dramatically spike, with more frequent and more expensive attacks hitting businesses and government entities of all sizes.

Six use cases for Open Banking that will change how you view it

Bobsguide

The last twenty-four months have seen the publication of hundreds upon hundreds of articles decrying the lack of impact that Open Banking has made upon the finance sector or for the consumer. Even those supportive of Open Banking continue to limit their horizons to some of the challenger banks or

125
125

Why The Cyberfraud Fight Needs A Trusted Identity Reset

PYMNTS

The future of eCommerce, and fraud prevention, is flipping the script from just stopping bad transactions to enabling personalized customer experiences.

Tools 190

Securing payments takes a village

Payments Source

Relying on a "community-based" fraud approach can reduce friction and abandonment, increase sales and revenue, delight your customers, and help protect your brand and reputation, says Accertify's Jeff Wixted. Risk Payment fraud Digital payments ISO and agent Payment processing Merchant

NEW DATA: Consumers Like Cashier-less Retail But Retailers Aren’t Hitting The Mark

PYMNTS

Consumers’ interest in unattended commerce goes far beyond candy and soda vending machines. There are 48.7 million consumers in the U.S.

Retail 185

To prevent fraud, everyone should be in the pool

Payments Source

By pooling fraud data and making it accessible in real time, FIs can scan check deposits to identify fraudulent checks before a loss occurs, says Advanced Fraud Solutions' Ted Kirk. Financial institutions Payment fraud ISO and agent Data management Merchant

Fraud 85