Wed.Sep 18, 2019

With Wirecard, UnionPay takes aim at Visa, Mastercard

Bank Innovation

China’s UnionPay, the world’s largest card issuer with 57.6% of the world’s payment cards in circulation, has global ambitions. Its latest move is a memorandum of understanding with digital payments giant Wirecard, a partnership which will help it expand to new markets and craft new payment solutions for foreign visitors to China. Wirecard, which has […].

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Greed is good … or is it?

Chris Skinner

There’s a comment that has stayed with me for a long time. It goes along the lines of if you’re earning $10 million a year then spending $10,000 is only the same as someone who earns $100,000 a year spending $100. It’s just relative. This often strikes me as I … The post Greed is good … or is it? appeared first on Chris Skinner's blog. Future Grid Opinion

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Wells Fargo using blockchain for corporate international money transfers

Bank Innovation

Wells Fargo is turning to blockchain to speed up cross-border money transfers for its corporate clients. The bank is using the technology to create a money transfer service it’s branding as Wells Fargo Digital Cash. The technology is still in its nascent stages, but Wells Fargo wants corporate clients to use the system to transfer […]. Carousel Corporate Banking Daily Post 2 Payments Product Design Banco Bradesco Medici MUFG TransferMate Wells Fargo

Things worth reading: 19th September 2019

Chris Skinner

Things we’re reading today include … Cash strapped students targeted as money mules U.S. bankers seize on repo-market stress to push for softer liquidity rules Challenger bank Metro may be challenged on capital Why the Fed was forced to intervene in short-term money markets Consumers’ credit card spending ‘overtakes cash’ … The post Things worth reading: 19th September 2019 appeared first on Chris Skinner's blog. Reading

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Intelligent Process Automation: Boosting Bots with AI and Machine Learning

Across all sectors, companies are learning that they can transform their businesses by embracing Intelligent Process Automation, or IPA. With the pairing of AI and RPA, IPA adds a new layer of intelligent decision-making processes to automated RPA tasks. By automating repetitive work, and adding the ability to automate intelligent decision making, intelligent automation frees up your most valuable resources – your employees – to spend more time on higher value and more strategic work. But in order to reap the rewards of Intelligent Process Automation, organizations must first educate themselves and prepare for the adoption of IPA. In our ebook, Intelligent Process Automation: Boosting Bots with AI and Machine Learning.

GoCardless launches direct debit option for US payers

Bank Innovation

GoCardless, the direct debit payment company based in London, is now offering its payments solution to U.S. customers. The company also opened a San Francisco office this summer to spearhead its U.S. expansion efforts. The U.S. launch opens up a sizeable swath of new business for GoCardless. The company’s business clients can offer their customers […]. Carousel Customer Experience Payments Bento for Business direct debit GoCardless interchange fees

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The war for talent: Managing millennials

Bank Innovation

Anyone who’s spent a frustrating afternoon explaining Facebook privacy settings to their parents can tell you that millennials are naturally good at technology. Millennials have been raised on the Internet, touch screens and the cloud, so naturally they have a more intuitive understanding of technology and can pick up systems and applications that are built […]. Sponsored

Global Payments, TSYS Merger Finalized In ‘Landmark Transaction’  

PYMNTS

Payments companies Global Payments and TSYS ( Total System Services ) have finalized a merger deal that creates a combined pure play payments technology company with substantial international presence and expansive scale, the company said in a press release on Wednesday (Sept. The collective company will use the name Global Payments and will assist some 1,300 financial institutions and about 3.5 million merchant locations in 100-plus countries. . “We

How To Get Conversational For Bank Search Marketing

Banker to Banker

“What do I need to open a checking account?” and “What is the best savings account?” are two trending bank-related searches that are becoming popular. In years past, potential bank customers used to put in a utilitarian “checking account” to search banks offering checking accounts. Now, given changing search engine algorithms, better content, and more comfort using conversational searches people are using complete sentences in their search query.

PayPal Lowers Installment Credit Threshold To $30 – $99 Purchases

PYMNTS

Consumers now have a range of promotional financing deals to choose from the online payments system PayPal that provides zero-interest installment loans to cover the price of their purchase. The terms vary — though they usually range from 6 to 12 months — but all tend to have one thing in common: They tend to attach to bigger ticket purchases, and have a minimum spend attached to them.

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The Best Sales Forecasting Models for Weathering Your Goals

Every sales forecasting model has a different strength and predictability method. It’s recommended to test out which one is best for your team. This way, you’ll be able to further enhance – and optimize – your newly-developed pipeline. Your future sales forecast? Sunny skies (and success) are just ahead!

Why Amazon should thank 'open banking'

Payments Source

As the tech giant restructures and reinvents its current lending program, it must take advantage of this increased access to borrowers’ banking data to strengthen and inform its lending decisions, writes Become's Eden Amirav. ISO and agent E-Commerce Lending Digital payments Retailers Amazon

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How To Build A Global Digital Identity Network

PYMNTS

What does it take to build a global identity network? For starters, five billion digital identities. To that end, the global identity verification firm Trulioo said on Tuesday (Sept. 17) that it has raised C$70 million in new funding to scale into its next growth phase. The round was led by Goldman Sachs Growth Equity, with participation from Citi Ventures, Santander InnoVentures and existing investor American Express Ventures.

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Fighting breaches means admitting we're all vulnerable

Payments Source

Staying on top of new threat sources isn’t easy, but things will keep getting worse if we can’t openly discuss the matter, says Monica Eaton-Cardone, COO of Chargebacks911 and CIO of its parent company Global Risk Technologies. ISO and agent Data breaches Risk Digital payments Payment fraud Retailers Banking

Credit Card Startup Petal Raises $300M Led By Jefferies

PYMNTS

The New York-based FinTech company Petal has announced a $300 million debt round from global investment bank Jefferies, adding to existing venture capital investments from Peter Thiel’s Valar Ventures, Rosecliff Ventures and others, the company announced in a press release on Wednesday (Sept. Last year, Petal borrowed $30 million in debt capital from Jefferies. The startup credit card company offers its rewards card to people with no credit history.

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How Banks Are Winning with AI and Automated Machine Learning

Banks have always relied on predictions to make their decisions. Estimating the risks or rewards of making a particular loan, for example, has traditionally fallen under the purview of bankers with deep knowledge of the industry and extensive expertise. But times are changing. Today, banks realize that data science can significantly speed up these decisions with accurate and targeted predictive analytics. By leveraging the power of automated machine learning, banks have the potential to make data-driven decisions for products, services, and operations. Read the white paper, How Banks Are Winning with AI and Automated Machine Learning, to find out more about how banks are tackling their biggest data science challenges.

Sales commissions add complexity to B2B payment automation

Payments Source

Online and cloud-hosted B2B services are on the rise, breaking apart traditional payroll and exposing pain points for technology developers to address. Payroll payments B-to-B payments Payment processing SaaS

Connected Vehicles And The Future Of Retail

PYMNTS

The future of retail is playing out in multiple places, including the open road, while voice will help capture the connected commerce frontier. In B2B payments, a series of payment innovations is promising to put an end to some common frictions. And, in digital banking, financial institutions (FIs) are working to keep fraudsters from accessing customer information and funds on their mobile and digital channels. All this, Today in Data.

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Amazon’s Western Union walk-in cash-payment program launches in U.S.

Payments Source

Months after retooling its Amazon Go store checkout process to accommodate customers who prefer to pay with cash, the e-commerce giant had added a way for consumers to pay for Amazon e-commerce purchases with cash at U.S. Western Union outlets. Cash Digital payments Retailers Amazon Western Union

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How To Make Sure Stores Don’t Die

PYMNTS

Among the defining endeavors of our time — at least for the worlds of payment and commerce — has been to bring brick-and-mortar retail stores into the new century. It’s an ongoing effort that has probably seen more failures than success stories, but that’s certainly not keeping people from betting on new innovations.

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B2B Pocket Playbook: End-to-End Guide to Sales Enablement

Sales enablement is the strategic process of providing sales teams with the content, guidance, and mentorship needed to engage targeted buyers. It’s all about equipping sales professionals with the tools they need to put their best-selling foot forward. And if sales teams want to continuously sell better -- and faster -- their sales enablement process must have a game-winning strategy. It's time for you to start selling smarter - and hitting your sales number - with the best B2B database in the market. Get started today.

Morning Brief 9.18.19: Alipay powers a bus that works like a ride-hailing app

Payments Source

The information you need to start your day, from PaymentsSource and around the Web. Today: Alipay's part of a mobile app bus; Postmates and the Yankees collaborate on mobile payments; Banks are wary of data sharing; Grab and Heineken partner. Briefing

Walmart And Capital One Team Up For Rewards Credit Card

PYMNTS

Walmart has announced it is teaming up with Capital One on a new credit card to be released on Sept. 24, according to a release. There will be two versions available: the Capital One Walmart Mastercard and the private-label Walmart Rewards Card. The cards feature 5 percent back on everything purchased for the first year, either on Walmart.com or inside the store using Walmart Pay.

Targeting NFC latecomers, Square exports contactless terminals to U.K., Japan

Payments Source

To eke out growth in the mature payments terminal market, Square is taking its newest NFC-enabled hardware to markets outside the U.S. with heavy contactless card penetration, where some merchants are likely to be behind the technology curve. Mobile point-of-sale Digital payments Retailers pso cardline lead 1 Square Japan

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Open Banking Startup Bud Lays Off One-Fifth Of Workforce

PYMNTS

Open banking FinTech startup Bud is reportedly laying off up to one-fifth of its staff just months after announcing a $20 million fundraise, The Telegraph reported on Monday (Sept. According to the publication, Bud is developing software that enables traditional banks to integrate directly with other financial services firms. It is part of a growing population of open banking startups looking to develop solutions around new regulations in Europe and the U.K.

How Banks Are Winning with AI and Automated Machine Learning

Banks have always relied on predictions to make their decisions. Estimating the risks or rewards of making a particular loan, for example, has traditionally fallen under the purview of bankers with deep knowledge of the industry and extensive expertise. But times are changing. Today, banks realize that data science can significantly speed up these decisions with accurate and targeted predictive analytics. By leveraging the power of automated machine learning, banks have the potential to make data-driven decisions for products, services, and operations. Read the white paper, How Banks Are Winning with AI and Automated Machine Learning, to find out more about how banks are tackling their biggest data science challenges.

Nets, KPMG collaborate on post 3D Secure security

Payments Source

Arguing more work is needed in the wake of new security protocols, Nets will team with KPMG to jointly develop machine learning-powered fraud monitoring and prevention. Security risk 3-D Secure Payment processing KPMG

WEX Opens FI Commercial Payments Services Unit

PYMNTS

Commercial payments company WEX is adding a new business segment under its Corporate Payments division, created to address the payments needs of financial institution clients, the firm said Tuesday (Sept. WEX said Greg Sassone will lead the new unit as Corporate Payments vice president. He joined WEX in 2015 and has held previous positions at Mastercard and Citibank.

TSYS/Global Payments mega deal closes

Payments Source

The big payment processor/bank technology mergers that were announced early this year are officially closing, setting the stage for complicated conversions and a fierce battle for customer share. M&A Payment processing TSYS Global Payments Inc Fiserv First Data FIS Worldpay

Why The GAO Thinks PSPS Can Help Fix The Marketplace Counterfeit Problem

PYMNTS

Online marketplaces need to meet higher and higher standards if they want to keep customers from the competition. For third-party marketplaces, that means supporting transactions in local currencies and through the local payment methods that both buyers and sellers prefer. As online shopping is now a global endeavor, that can be trickier than it seems.

Pressure Points: How to Ensure Your B2B Pipeline Passes Inspection

This eBook highlights best practices for developing a pipeline management process that helps sales leaders and their team C.L.O.S.E (you’ll see what we mean in this eBook) more revenue through data-driven prospecting, stage analysis, and subsequent sales enablement.