Thu.Aug 08, 2019

Are these FinTech unicorns worth it?

Chris Skinner

There’s a regular itch that I feel in the back of my neck. I scratch it, but it won’t go away. The itch is an alarm call really, and it’s asking whether all this FinTech investment is worth it. Last year, $111.8

Removing friction from the global travel space

Mobile Payments Today

The travel indsustry is moving towards removing friction from the payments process, as consumer and business travel increasingly becomes more global in nature

Inside OTP Labs, Eastern Europe’s most adventurous bank innovation experiment

Bank Innovation

It might have $55 billion in assets and 10.5 million customers in 10 countries, but OTP Bank, one of the largest financial institutions in Central and Eastern Europe, might be one of the most unorthodox banks on the Continent.

Things worth reading: 9th August 2019

Chris Skinner

Things we’re reading today include: Investec hit by shareholder protest over auditors Core elements of the global banking industry are moving to India HSBC sticks by US strategy despite missing targets Should we worry about a currency war?

How Airbnb, Lime, Turo, Fiverr And Newegg Are Using Instant Payments

PYMNTS

Whether it’s a merchant or their customer, an employer or their employee — every party involved in a transaction wants to be paid immediately, without any hassles or surprises.

Green Dot seeks to stem the bleeding caused by new digital-only banks with Unlimited

Bank Innovation

Green Dot is feeling the pinch from digital-only banks on the market. To fight back the newfound competition, Green Dot is building its own digital-only banking brand with a look and feel that resembles Chime, Monzo, N26 and other banking startups.

Can Less Digital Security Actually Be More Secure?

PYMNTS

What was the color of the car you owned in 2005? Still remember it? Probably not. But you can bet someone knows — that someone being a fraudster.

More Trending

Paytm’s UPI Usage Plummets While Google Pay, PhonePe See Spike

PYMNTS

After being a usage leader in India’s Unified Payments Interface (UPI), Paytm experienced a sharp decline in transactions in July, while Google Pay and PhonePe have seen usage skyrocket, sources told the Economic Times on Thursday (Aug.

Google 212

ATM users want choices, so why aren't we giving them any?

ATM Marketplace

According to a recent survey, more consumers indicated they would rather access a bank branch than an ATM. Maybe if ATMs offered more branch-like services, such as loans for consumers or cash-deposits for businesses, that story would be different

ATM 103

Canadian Travel Agency Group Partners With Western Union For Payments

PYMNTS

The Association of Canadian Travel Agencies (ACTA) is collaborating with Western Union to make cross-border payments easier.

Groups 206

Why an online, global workforce could be the future of construction

Dataconomy

The talent shortage in architecture and engineering is huge.

How The FedNow Service Could Keep Checks In B2B Payments

PYMNTS

The Federal Reserve’s planned faster payments service, the FedNow Service, is slated to have an impact on the speed with which paper checks are processed, adding a new twist to the U.S.’s s path toward faster, digital payments.

NAC visits DC lawmakers in effort to keep cash alive

ATM Marketplace

The National ATM Council has wrapped up its third annual Washington D.C. fly in. The two-day lobbying event included nearly 60 meetings with lawmakers and their staff

DC 84

Chase Absolves Canadians Of Uncollected Credit Card Bills

PYMNTS

Chase Bank credit card customers in Canada were treated to an unusual gift when the lender forgave their outstanding debt, Fortune reported on Thursday (Aug. Holders of the Amazon.ca

Cards 202

WSO2 Open Banking releases PSD2 RTS compliance functionalities for banks

The Paypers

(The Paypers) WSO2 Open Banking has announced new capabilities that support RTS requirements around eIDAS, strong customer authentication, and fraud detection for banks

Fraud 81

As SCA Deadline Looms, EU Merchants Scramble

PYMNTS

Strong Customer Authentication (SCA) will officially roll out in one month. The regulation is aimed at protecting consumers and merchants alike from fraudsters and other online criminals wishing to access their financial information, which means increased security at online checkout.

Trends 188

iSignthis signs agreement with Visa for Australian Principal membership

The Paypers

(The Paypers) iSignthis has entered into an Australian Principal Member licensing agreement with the Singapore-based regional subsidiary of Visa

Why Credit Unions Have A Member Loyalty Gap

PYMNTS

Loyalty is a tricky proposition, especially as plastic cards have given way to mobile payments, and there is little mercy for those businesses that get loyalty wrong.

Fraud 186

[Guide] Mitigating Cyberattacks in Financial Services

Perficient Financial Servies

Cyberattacks and data breaches in financial services firms are more common than in any other industry.

Fighting Fraud With Identity Verification In The Sharing Economy

PYMNTS

The verification and authentication processes of many sharing economy platforms are poorly equipped to combat the growing risk of fraud. In technology news, smartwatches and wearables are among the hottest areas of digital commerce and payments.

Fraud 181

What to make of banks’ growing exposure to leveraged loans

BankThink

Fresh data from the Fed, FDIC and Bank of England shows that, directly or indirectly, banks are taking on more leveraged loans. But whether this puts their loan and securities portfolios at risk remains open for debate.

How Boutique Trucks Are Bringing New Meaning To Fast Fashion 

PYMNTS

Market Map: The Evolution of India’s Growing Fintech Landscape

CB Insights

In 2013, less than $100M was invested in venture capital-backed fintech companies in India. A lot has changed in 6 years. Want the full post? Become a CB Insights customer. If you’re already a customer, log in here. The post Market Map: The Evolution of India’s Growing Fintech Landscape appeared first on CB Insights Research. Core Intelligence

State Regulators Investigate Payday Advances

PYMNTS

The New York State Department of Financial Services (NYDFS) has announced it will lead a multi-state investigation into alleged violations of state regulations of the short term lending industry, specifically in the area of payroll advances.

Line to launch ecommerce platform called Line Shopping

The Paypers

(The Paypers) Messaging app Line has announced it is about to launch an ecommerce platform called Line Shopping, aiming to provide a wide assortment of items from 15 online marketplaces

Second Biannual ‘Afterpay Day’ To Feature More Than 6K US Brands

PYMNTS

Afterpay, the leader in “buy now, pay later” payments, said in a press release that its second bi-annual two-day sale, Afterpay Day, will take place Aug. 14-15. The company will partner with top fashion and beauty brands and retailers for the event, which offers its two million U.S.

Apple Card: 10 key takeaways

BankThink

Apple's new credit card isn't just another virtual card in its virtual wallet. It borrows a lot of features from the most successful brands in payments and technology.

Apple 91

Facebook’s WhatsApp Still Vulnerable To Year-Old Chat Hack

PYMNTS

Internet safety authorities uncovered a means of hacking chats on WhatsApp last year, but Facebook has yet to fix the security flaws, The Financial Times reported.

Moka, Go-Pay team up for cashless payments in Indonesia

The Paypers

(The Paypers) Moka , providing mobile point-of-sale (POS) technology for small and medium businesses in Indonesia, has partnered with Go-Jek’s digital wallet Go-Pay

Big Tech’s Big Profits For SoftBank

PYMNTS

Big tech, big bets and big profits. SoftBank ’s first fiscal quarter is a snapshot of a longer-term trend if you go by the latest results announced this week. The firm’s $100 billion Vision Fund logged big gains.

Lavu acquires accounts payable automation startup Sourcery

The Paypers

(The Paypers) US-based payment processing platform Lavu has acquired Sourcery , an automated accounts payable solution designed for the restaurant industry

Nestle Offers Starbucks-Labeled Coffee In China

PYMNTS

To tap growth in a place where coffee consumption per capita is said to be low compared to international standards, Nestle began to offer coffee that is Starbucks-branded in mainland China.

Warren presses Capital One CEO for more details about breach

BankThink

The Massachusetts senator asked Richard Fairbank in a letter why the bank didn’t detect the breach for nearly four months and how it plans to prevent future cyber intrusions. Data breaches Cyber security Regional banks Elizabeth Warren Capital One Senate Banking Committee

A ‘Payment-Agnostic’ Approach To Accounts Payable

PYMNTS

The competition is heating up between payment technologies in accounts payable, with ACH and virtual cards seeing significant pushes in the B2B payments space to combat the dreaded paper check. Which will come out on top? That may be the wrong question to ask, considering the multitude of preference and needs both buyers and suppliers have when sending and receiving corporate payments. Paper checks are familiar, especially to smaller businesses, and can support a longer cash float.

Visa market value surpasses JPMorgan, banks that used to own it

BankThink

The biggest U.S. banks used to own Visa. Now if only they could keep up with it. Credit cards Visa JPMorgan Chase

US 88

Deep Dive: Securing Digital Identities Without Relying On Passwords

PYMNTS

Digital identification continues to make immense strides in implementation and uptake in the world’s economy, but it is not without vulnerabilities. More than 4.5

Bringing fintech to farmers

BankThink

Growers Edge is adapting retail financial technology to compete with traditional banks in ag lending and crop insurance. Ag lending Agriculture industry Fintech Data modeling Data strategy