Mon.Jan 13, 2020

Things worth reading: 14th January 2020

Chris Skinner

Things we’re reading today include … Visa to pay $5.3

Visa to buy Plaid for $5.3 billion in bid to reach startups

Bank Innovation

Visa Inc. grew into one of the world’s most valuable financial companies by serving as the pipes that help connect banks and merchants. Now, it’s making a major bet on doing the same for data between banks and financial startups. Visa agreed to pay $5.3

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The West Asia Renaissance: Watch and Learn

Chris Skinner

I sometimes write a reflective blog post or two and realised that the vision of the West Asian nations – some call this The Middle East, but that’s not right – is quite stunning.

India’s about to hand people data Americans can only dream of

Bank Innovation

India has more than 560 million internet users, all generating data by the terabyte. Soon they’ll have an unprecedented amount of control over their digital financial footprints, with the ability to decide what to share, with whom, and for how long.

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The B2B Payments Fraud Threat Of Internal Employees

PYMNTS

It was a difficult week for businesses getting hit with cyberattacks, with foreign currency company Travelex among the most high-profile of recent cases.

Fraud 218

With point-of-sale loans, PayPal eyes millennial and Gen Z shoppers

Bank Innovation

As retailers seek to increase customer purchase volumes through point-of-sale loans, PayPal is setting itself apart from competition through its brand recognition, the speed of its underwriting process and its relationships with hundreds of millions of consumers.

Amazon To Funnel Fake Product Data To Authorities

PYMNTS

Amazon is cracking down on the sale of counterfeit goods, saying it will now cooperate more intensely with law enforcement on those matters. According to a source who spoke to Reuters , the worldwide eCommerce retailer will now report counterfeit goods directly to U.S.

Apple 196

More Trending

LA Looks To Boost Taxi Industry With Rideshare-esque Revamp

PYMNTS

As Uber, Lyft and other ridesharing companies continue to prosper, California is seeing a reckoning with the question of their need for regular taxis. To fight back against the dominance of ridesharing apps, the City of Los Angeles is enacting sweeping changes to its taxi system.

Banks are underusing gamification, Javelin Strategy says

Bank Innovation

As banks seek to build relationships with customers, they’re not fully exploiting the potential of gaming as a strategy for loyalty and retention, suggest analysts at Javelin Strategy & Research.

Visa To Acquire Plaid For $5.3B

PYMNTS

Visa has signed a deal to purchase FinTech firm Plaid for $5.3 billion, according to a report. Plaid, which was launched in 2013, is attractive to Visa because it has the technology to get access to a customer’s bank account data, collect it and aggregate it for financial services providers to use.

Derivatives Are Tough But Hedging Is Easy (Get Our Documentation)

Banker to Banker

HEDGING FOR LOAN GROWTH With a flat and low yield curve, borrowers’ demand for long-term fixed-rate loans is high. Furthermore, based on the forward market and most analysts’ predictions, the yield curve is expected to stay low and flat in 2020.

Using AI To Keep Issuers On The Right Side Of Credit Risk

PYMNTS

As 2020 gets into full swing, artificial intelligence (AI) is in a peculiar position. It’s like that cool new kid everyone knows is coming to the party but has yet to show up.

Derivatives Are Tough But Hedging Is Easy

Banker to Banker

HEDGING FOR LOAN GROWTH With a flat and low yield curve, borrowers’ demand for long-term fixed-rate loans is high. Furthermore, based on the forward market and most analysts’ predictions, the yield curve is expected to stay low and flat in 2020.

Esports Venue Coming To Mall of Georgia

PYMNTS

Allied Esports and Simon announced that the Mall of Georgia, located in Buford, Georgia, will host the companies’ initial esports venue, according to a press release. The two-level, 13,000-square-foot facility will be a destination for players and community members of all ability levels.

Why Your Bank Should Be Using Derivatives Now

Banker to Banker

HEDGING FOR LOAN GROWTH With a flat and low yield curve, borrowers’ demand for long-term fixed-rate loans is high. Furthermore, based on the forward market and most analysts’ predictions, the yield curve is expected to stay low and flat in 2020.

You Haven’t Been Yourself Lately: Digital Identity Trends 2020

PYMNTS

The launch of EMV chip cards in the U.S. in the early 2000s had much of the hoped-for effect: By 2017, both Mastercard and Visa had reported that counterfeit fraud was more than halved. That’s one of the happier stories in the turbulent digital identity wars. It’s not all good news.

Trends 185

Cross-Selling: Uncover Hidden Growth in Your Financial Institution

Abrigo

Key Takeaways Cross-selling may be the most efficient way for your financial institution to achieve strong growth. Cross-selling to stem “hidden defections” represents huge untapped opportunities for institutions, according to a study by Bain. Having the right technology can play an important role in cross-selling CFI customers or members. Cross-selling: An efficient growth investment.

Study 100

Embedding Insurance At The Point Of Sale

PYMNTS

Insurance is changing with the rise of eCommerce, as well as with the support of ever-expanding data sets and other parts of the digital infrastructure — trends that bring consumers closer, in a way, to insurance offerings.

Why Do 44% Of Millennials Bank With Bank Of America, Chase, And Wells Fargo? Mobile Banking

Ron Shevelin

Large banks offer more mobile banking features than smaller banks--and that attracts and keeps Millennials

Who Will Win The Restaurant Aggregator Race?

PYMNTS

Foot traffic is flat as digital dominates top-line growth. Purchases are shifting from individual brands to marketplaces. Mobile influences the purchasing and ordering process, regardless of whether the product is ultimately delivered or picked up in-store.

The Future Of Payments: B2B Payments Are Moving Past Checks

CB Insights

How will US merchants pay each other in the future? While many businesses still pay each other with paper checks, other electronic B2B payment methods are becoming more robust.

Cards 74

Cigna, Oscar To Launch Healthcare Solution For SMBs

PYMNTS

Cigna has announced a partnership with technology-focused Oscar , another health insurance firm, to provide plans and coverage across U.S. markets for small businesses.

How Samsung only scratches the surface of Tap-to-Phone

Payments Source

Samsung's upcoming XCover Pro phone, which can accept contactless payments without add-on hardware, is the first of what Visa hopes will be many devices capable of natively handling NFC payments. NFC Wearable payments Mobile payments Mobile point-of-sale Network rules Visa Samsung

Why Health And Fitness Are Driving More Retail Change

PYMNTS

Fitness and wellness are helping to change the face of retail in 2020. Consumers are creatures of habit — but those habits can be complex. And, of course, habits vary according to factors like geography, age and even fitness level.

Retail 173

Inside BBVA’s flirtation with e-commerce and open banking

Payments Source

BBVA’s not sure if consumers or merchants will want to use an e-commerce marketplace to make bill payments in the same way they buy clothes — but if they do, BBVA wants to be the one to provide the necessary technology. Fintech Spain Online payments Digital payments BBVA

Bitcoin Daily: Lightnet Raises $31M, Dish Network Has Piracy Deterrent Based In Blockchain 

PYMNTS

The company that developed the Velo Protocol, Lightnet, has raised $31.2 million in a Series A funding round, according to a report by Coindesk Monday (Jan.

Blockchain Thematic ETFs from the West to the East

Daily Fintech

Listing on exchanges continues to dominate. Whether listing on regulated or unregulated Centralized exchanges (CEX) or Decentralized exchanges (DEX) of any sort; this has not changed at all for assets.

Deep Dive: Travel, Hospitality Get A Millennial Makeover

PYMNTS

Millennials have long been sought-after travel and hospitality customers, partly because they are perfectly placed to seek such experiences. They are old enough to have disposable income, but young enough that they can travel without major health and wellness risks.

Visa's $5 billion Plaid deal takes a possible rival off the table

Payments Source

In the battle to control consumer data, Visa has made a major score by agreeing to acquire Plaid, a technology company that it could have seen grow into a competitor. Fintech Online payments M&A Plaid Technologies Visa APIs

Data 60

Walmart Will Add Shelf-Scanning Robots To More US Stores

PYMNTS

As it grows its collection of robots, Walmart will bring shelf-scanning robots to 650 additional stores in the United States by the conclusion of summer.

Banking And Fintechs Will Align More in 2020, Say CB Insights and Mastercard

Tom Groenfeldt

Because consumers now expect credit and payment to be integral parts of the overall experience, banks are transforming how they deliver products, and fintechs and digital players have moved into banking

Navigating The Increasingly Murky Waters Of Trade Finance

PYMNTS

Trade finance remains an essential tool for cross-border B2B trade, and with an estimated $1.5

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Visa to buy Plaid for $5.3 billion in bid to reach startups

Payments Source

Visa Inc. agreed to buy Plaid Inc. in a $5.3 billion deal that seeks to diversify the payments giant by improving access to financial startups

MoneyGram Teams With EbixCash To Bring Transfers To India

PYMNTS

Payments solutions firm EbixCash is bringing cash card solutions to India with a MoneyGram partnership, MoneyGram announced on Monday (Jan. EbixCash, a wholly-owned subsidiary of Ebix , supplies international on-demand software and eCommerce services.

How does a challenger bank earn customers’ trust? Digit CEO explains

American Banker

"To wake up one day and assume everyone in America is going to be above average at math and above average rational is crazy," says Ethan Bloch, whose app is designed to help people achieve financial health. Digital banking Mobile banking Workforce management Artificial intelligence Machine learning Immersive

Kohl’s CEO Defends Amazon’s Role In Helping Chain

PYMNTS

How good of a pal is Amazon to other retailers? That’s the question getting traction over the last few days, thanks to the less-than-stellar holiday sales at Kohl’s. Ask Kohl’s CEO Michelle Gass about the relationships – which recently occurred at the NRF show – and you’ll get an optimistic view.

Even with new laws, protection for personal data is inadequate

Payments Source

Data privacy regulations may be improving, and tech companies may now be forced to be more transparent about their practices, but the fact remains that vast quantities of personally identifying information are already out in the wild, says TRUSTID's Patrick Cox. Payment fraud Risk management Retailers ISO and agent Payment processing