Mon.Oct 14, 2019

Is Revolut leading a FinTech revolution … or destroying it?

Chris Skinner

We are regularly being bombarded with unicorn news. Some rise and some fail. We hear about toxic corporate cultures and ousted CEOs on some occasions, with WeWork being the latest to get caught in the pre-IPO crossfire.

Mastercard, Curb Launch Donation Campaign For American Cancer Society

PYMNTS

Mastercard is teaming with the taxi ride-hailing app Curb to help the American Cancer Society’s Road to Recovery program, which provides free rides to patients going for cancer treatment, Mastercard announced in a press release on Monday (Oct.

Things worth reading: 15th October 2019

Chris Skinner

What’s Wrong With The Attack On Gig Economy Pay

PYMNTS

Drivers can’t make ends meet. Given the median income of roughly $25,000 a year and the number of hours required behind the wheel to earn that, drivers’ wages fall well below the federal hourly minimum wage. As independent contractors, drivers also have no benefits.

Franklin Templeton grooms startups to address pain points

Bank Innovation

Franklin Templeton is taking a hands-on approach to cultivating startup talent. The San Mateo, Calif.-based

Paychex Wades Into Wearables, Real-Time Payments

PYMNTS

Payroll and human resource management solution provider Paychex has unveiled a range of new solutions and services at the 2019 HR Technology Conference & Exposition event late last month.

Paytm nears $2 billion from backers including SoftBank, Ant

Bank Innovation

Indian fintech giant Paytm is close to scoring $2 billion of new financing from investors including Jack Ma’s Ant Financial and Japan’s SoftBank Group Corp. to fend off an influx of new rivals, a person familiar with the matter said.

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More Trending

Forrester’s Clarke: Digital banking is not self-service

Bank Innovation

Banks are rushing to grow digital capabilities, but they are neglecting the digital enablers that support the overall customer experience. Indeed, many customers did not have a contextually relevant experience with their bank, which diminished overall loyalty.

Olo CEO: What Restaurants Don’t Know They Don’t Know About Delivery Aggregators

PYMNTS

The trouble with existential threats is they very rarely show up and announce themselves. When Amazon launched in 1995, it looked to most as a one-trick eTailer that sold books online.

OTP Bank expands startup program, adds implementation period

Bank Innovation

Budapest-based OTP Bank is expanding the scope of its startup development program beyond Hungary to Russia, Ukraine, Croatia, Serbia and Albania and is adding a new opportunity for startups to work closely with practitioners.

Groups 158

Libra’s Unraveling, The Geneva Crypto Convention’s Folly

PYMNTS

If one is going to hold a wake, Geneva’s a picturesque place to do it. Well, perhaps the Libra project is not dead. Today (Oct.

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Mexico's new QR-based payments system — will it succeed?

ATM Marketplace

Banxico recently rolled out CoDi, a smartphone and QR-based payments system. In this blog post, ATM historian Bernardo Batiz-Lazo steps us through how QR codes became so popular and what this means for cash-dependent Mexicans

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Walmart To Reimburse Vendors For Price Cuts To Gain Edge Over Amazon

PYMNTS

Price wars usually only have one winner: Consumers. Price wars tend to be decent short term strategies to lock in customers. But then, what happens when the price wars stop and pricing levels return to some degree of normality? Welcome, perhaps, to the eCommerce platform pricing wars.

Course 229

Can the power of payments fuel credit growth in Europe? Yes.

Accenture

Guest blogger Markus Naumer examines how digital payments technology is enhancing credit lending and showing promise in addressing consumer credit-aversion challenges. Digital credit for consumers is an underpenetrated and underestimated opportunity for banks and retailers alike. In most European countries, for example, unsecured card lending is less than 18 percent of total unsecured consumer lending.

Amazon Go Inspires Cashierless Startup Challengers

PYMNTS

With the unveiling of the first Amazon Go store in Seattle last year, multiple challengers have been inspired to offer new methods for shoppers to grab items from a store and avoid the checkout line.

How to profit from the now likely failure of Facebook Libra. 

Daily Fintech

Move fast and break Facebook. It will soon be conventional wisdom that Facebook Libra will fail and you only make money before the herd catches on.

Private Equity Firm Thoma Bravo Acquires UK’s Sophos For $3.8B

PYMNTS

British cybersecurity software company Sophos is being acquired for $3.8 billion by U.S. private equity firm Thoma Bravo , Bloomberg reported on Monday (Oct. Sophos’s three biggest shareholders — Apax Partners and founders Jan Hruska and Peter Lammer — agreed to a cash offer of $7.40 per share.

BBVA's Strickland: customers want similar experiences in desktop, mobile banking

ATM Marketplace

Tim Tang, director, enterprise solutions at Hughes, sits down with Gil Strickland, VP, product management at BBVA USA, to talk about customer expectations for online and mobile banking at BCX 2019

How Drive-Thrus Are Speeding Up Retail Innovation

PYMNTS

Been on a fast food drive-thru lately? If so, you’ve been at the site of one of the hottest areas of retail innovation. For instance, cameras are playing a part in reducing friction at the point of contact between customer and business.

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The next Elizabeth Warren? How Katie Porter is shaking up House banking panel

BankThink

The California Democrat is less recognizable nationally than other progressives elected to the House in 2018. But she may be "the most feared freshman" on the Financial Services Committee.

The Rise of Shared Parking In The Platform Economy

PYMNTS

Parking has remained a nightmarish endeavor for modern drivers, even as technology has developed to help them find sought-after spaces. This has been a challenge especially in urban areas like London, Montreal and New York City.

Smart Bricks meet Clicks & Voice – the Walmart Way

Daily Fintech

PHYGITAL E-commerce giant Amazon is a big player in many markets. From e-commerce, cloud, delivery, entertainment, payments, smart home devices, and physical stores. Retail giant Walmart, not included in the FANGs or the GAFAs, as it is a native of another tribe (physical retailers), can actually stand respectfully next to Amazon and other large non-financials […]. The post Smart Bricks meet Clicks & Voice – the Walmart Way appeared first on Daily Fintech.

How To Turn Every Supply Chain Into A Custom B2B Marketplace

PYMNTS

The emergence of online shopping and eCommerce inevitably seeped into the B2B world, leading to rising demand for corporates to make purchases online the same way they do as consumers.

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Metro Bank brings fintech to UK SMEs with GBP 120 mln funding

The Paypers

(The Paypers) UK-based Metro Bank has announced three fintech and SME partnerships, following GBP 120 million funding it secured from the Capability and Innovation Fund

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The Hidden Fraud That Spells Big Marketplace Losses

PYMNTS

Everyone loves a good, free introductory offer: the month of free access to a streaming service, the free lift from a ridesharing service, the free meal kit delivered right to the front door. Brands know that customers like these offers, which is, of course, why they offer them.

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Google launches debit card payments in Brazil

The Paypers

(The Paypers) Google has launched a debit card payment function in Brazil through Google Pay for users of Android smartphones, Reuters reports

UK Contactless Payments Grow 18 Pct. YOY

PYMNTS

New data from U.K. Finance shows that contactless payments in the country continue to grow. In fact, almost 50 percent of all debit card payments are contactless. In July of this year, cardholders in the U.K. made 1.5 billion transactions with their debit cards, which is a jump of 8.9

UK consumers pay unnecessary fees for cross-border money transfers, research reveals

The Paypers

(The Paypers) Research from Paysafe has revealed that UK consumers pay unnecessary fees when sending money abroad

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Fixing Fresh-Cut Flowers With A New Supply Chain

PYMNTS

In what is one of retail’s more amusing ironies, the floral industry is not particularly green. The products are, of course, but the industry itself – particularly the segment of the market dedicated to the delivery of fresh-cut flowers – does not have a particularly inspiring environmental record.

Why a Tri-Bureau Data Approach is Important to Lenders

ForwardBanker

Before coming to Deluxe, I thought that all the credit bureaus were roughly the same. It really didn’t matter which one you worked with.

Data 78

Congress Calls Uber And Lyft To Ride-Hailing Hearing

PYMNTS

The head of the U.S. House of Representatives Transportation and Infrastructure Committee wrote letters to the CEO’s of both Lyft and Uber asking them to participate in a hearing about issues facing the ridesharing industry.

Mastercard and Visa Latest Companies To Step Back From Cryptocurrency

Banking Exchange

Banks should not learn the wrong lessons, however Payments Technology Risk Management Financial Trends Cards Online Mobile Security Checks/Remote Deposit Capture Tech Management Operational Risk Compliance/Regulatory Cyberfraud/ID Theft Blockchain Fintech Feature Feature3. 1Payments

Libra’s 2020 Launch Date In Doubt As More Backers Bail

PYMNTS

It is looking unlikely that Facebook will get the regulatory approval needed to launch its controversial cryptocurrency, Libra, next year.

AI or Die: 4 Ways Model Governance Can Help You Win at Digital Transformation

Banking Exchange

Traditional statistical models are limited in the number of dimensions they can access Risk Management Technology Feature3 Fintech Feature Financial Research Big Data AML & Fraud Security Cyberfraud/ID Theft Profitability Performance. 1Risk Management

Renault Starts Testing Self-Driving Rideshare Service 

PYMNTS

Renault has started a public trial of its on-demand car service on the Paris-Saclay urban campus, according to a press release on Monday (Oct. A panel of around 100 people will use the service — provided by two electric, autonomous and shared Renault Zoe Cab prototypes — on the campus from Oct.

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Top 3 Money Management Strategies For Those With An Irregular Income

BankBazaar

If you think that a budget is only for those with a steady income, think twice. Read on to know why a budget is a must for unpredictable income. If you’re a freelancer, a contractor, or even a self-employed professional, you’re probably aware of what we mean by an unpredictable income.

Bringing Government Procurement Into The Digital Age — And Onto Online Marketplaces

PYMNTS

Think of government spending, and the first word to come to mind might decidedly not be this one: efficient.

Online 193