Fri.Jun 07, 2019

US, China trade dispute may impact mobile payments as luxury sales take hit

Mobile Payments Today

The U.S. trade dispute with China is beginning to impact luxury retail due to a slowdown in spending from Chinese tourists. The trend could impact mobile transactions, as Chinese travelers have a huge preferences for using mobile platforms for shopping and payments

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MoneyGram Partners With Canada Post For Digital Money Transfers

PYMNTS

MoneyGram and Canada Post have teamed up for a digital money transfer service that allows users to complete transactions at select Canada Post locations all over the country, according to a release. “To

Mastercard to debut one-click checkout for online purchases

Bank Innovation

Taking a page from Amazon Pay, Mastercard is working with tech company EMVCo to create a one-click checkout experience for e-commerce customers.

Online 158

Real-Time Reimbursements Boost Online Shopping Satisfaction

PYMNTS

As consumers grow accustomed to digital shopping and mobile ordering, slow transactions can make or break the customer experience. That’s why real-time payments and fund disbursements have become so important across industries. The global value of real-time compensation is projected to reach $34.3

Online 258

NYCA’s Sica: challenger banks poised to take market share from incumbents

Bank Innovation

As fintech moves beyond digitizing legacy systems to a focus on intuitive, customer-driven experiences, the field of startups competing for market share is getting crowded. According to CB Insights, venture-backed fintech companies raised $6.3

New EMV Standard Could Reduce Abandoned Shopping Carts

PYMNTS

The best way to lose money is to make it difficult for people to give you their money. Yes, that’s painfully obvious, but it’s a lesson reinforced every day in commerce — a lesson that holds true as more shopping goes online and becomes ever more mobile.

Australian point-of-sale lender Afterpay guns for U.S. market

Bank Innovation

Point-of-sale lender Afterpay reports it has 1.5 million U.S.customers, a milestone it's achieved by embedding itself into the payment platforms of large consumer brands.

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More Trending

FSS Digital Banking Case study

Mobile Payments Today

Engaging customers over digital channels has become table stakes in financial services, A leading bank in India has deployed Mobile Pay, our Digital Banking Solution, to build an expansive partner ecosystem to engage customers and achieve services differentiation

Visa-Western Union Deal And Alexa’s Roommate Potential Top The Week’s News

PYMNTS

Yes, the weekend has arrived! We don’t know about you, but it was a busy week for PYMNTS, given all the news coming from the worlds of payments and commerce.

Strong Deceleration of Job Growth in May

Abrigio

This morning, the Bureau of Labor Statistics released its national employment situation report for May. The report was underwhelming, with just 75,000 jobs created last month – well below the 180,000 jobs expected.

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Beer Makers Cozy Up To Legal Retail Cannabis

PYMNTS

It’s hard to tell from the PYMNTS New Orleans bureau (where crawfish have given way to punishing sub-tropical heat), but U.S. consumers are drinking less beer. That, in turn, reportedly provides another opportunity for the emerging and growing legal cannabis retail sector.

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Top Funded FinTech Startups Founded in 2018

Let's Talk Payments

A growing number of new players in any industry is a sign of an expanding market and opportunities for innovators. FinTech is not an exception here.

Newly Funded B2B Startups Tap The Power Of Data

PYMNTS

This week’s B2B Venture Capital roundup is all about data. With a total of $388 million raised this week, newly funded startups are deploying an array of data analytics technologies to address B2B finance friction.

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How merchants can boost business with a cash discount program

ATM Marketplace

Integrating complex payment technology that requires an overhaul of existing hardware and software can challenge a business owner's ability to keep their business viable

CFPB Delays Underwriting Provisions For Payday Rule

PYMNTS

The Bureau of Consumer Financial Protection (CFPB) has delayed the Aug. 19, 2019 compliance date for the mandatory underwriting provisions for its short-term, small-dollar (payday) rule, according to various reports. Compliance is being delayed 15 months, to Nov. 19, 2020.

FSS Digital Banking Case study

ATM Marketplace

Engaging customers over digital channels has become table stakes in financial services, A leading bank in India has deployed Mobile Pay, our Digital Banking Solution, to build an expansive partner ecosystem to engage customers and achieve services differentiation

Amaiz Debuts Mobile Banking App For Startups

PYMNTS

FinTech Amaiz is rolling out a mobile business banking app for entrepreneurs, announced in a blog post this week. The solution is available 24/7, and offers invoice generation and submission, expense recording and management, and other accounting tools.

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Why Reducing Customer Friction Does Not Increase Fraud

Banking Exchange

Looking Beyond Alternative Lenders For Startup Financing

PYMNTS

Post-financial crisis, FinTech shed light on the plight of small and medium-sized businesses (SMBs) seeking capital, often shunned by banks — thanks to a lower risk appetite and more stringent regulations.

Credit union shopping spree funded by taxpayers

BankThink

As credit unions buy up community banks, policymakers should take another look at ending the industry’s tax exemption and regulatory breaks. Credit unions Tax exemptions Policymaking M&A Community banks Mark McWatters NCUA

NYC Scrutinizes eProcurement Deal With Ivalua

PYMNTS

New York City Comptroller Scott Stringer is scrutinizing the city’s $47 million contract with Ivalua to develop an eProcurement system after a previous report uncovered surging costs and delays in the initiative.

Will home equity lending ever recover?

BankThink

It’s the one consumer loan category where balances continue to fall, and disruption from nimbler fintechs is a big reason why. To win back market share, banks will need to beat the upstarts at their own game.

Luxury Fashion Brands Outspend Smaller Rivals On Social Media

PYMNTS

Luxury fashion brands like Christian Dior, Louis Vuitton and Gucci are upping their social media game, especially on Instagram, and pouring real money into efforts to court young shoppers, according to a report by Reuters.

Can Fannie, Freddie be overhauled without Congress?

BankThink

The Federal Housing Finance Agency has far more authority to upend the status quo than most realize, according to a new report. GSE reform GSEs Housing finance reform Minimum capital requirements Risk management Mark Calabria FHFA Fannie Mae Freddie Mac Treasury Department

Deem To Shutter Expense Management Platform

PYMNTS

Corporate travel booking firm Deem is closing down its expense management platform. Reports in Business Travel News on Thursday (June 6) said Deem plans to close Deem Expense in 18 months, and will transition its current users to the Certify platform.

Why BTC = USD1 million may be possible, but not desirable even for those with Bitcoin

Daily Fintech

Buying Bitcoin as a Store of Value is anti-fragile scenario planning aka tail risk insurance against something really bad happening in the Legacy Finance Economy. If a tiny % of global wealth makes that bet with a tiny % of their investable assets and one of the really bad scenarios happens, BTC = USD1 million is a feasible scenario. That scenario is not desirable even for those with Bitcoin if you also have a lot of Legacy Finance assets.

Trade War Casualty: Chinese Tourism — And Businesses Serving Tourists

PYMNTS

Trade wars are wars where injuries accrue cut by cut, tariff by tariff, slices taken off the top of GDP. But getting a bit granular, trade wars hit some business verticals (which of course make up GDP) harder than others.

The Benefits of Implementing Debit Card Payment Options

SWBC's LenderHub

Companies in every industry have had to adapt to growing consumer expectations for financial interactions that are fast, easy, and secure.

Bringing The Great Outdoors Into The Average Buyer’s Price Range

PYMNTS

While getting out into nature is highly recommended as a way to boost one’s physical health and mental state, it can be an expensive hobby. For simple, short hikes in temperate weather, of course, all one needs is a light jacket and a reasonably comfortable pair of shoes.

Using AI to find the ideal branch location

BankThink

Paramount Financial Technologies says its software can help banks answer key questions about their branch networks, including when it makes sense to expand them. Community banking Branch banking Branch management Branch network Fintech Massachusetts

Huawei Ban Could Cost Europe $62B Extra For 5G Rollout

PYMNTS

A ban on purchasing telecom equipment from Chinese companies including Huawei would add $62 billion to the expenses associated with Europe’s rollout of 5G networks.

Facebook to release its crypto in June, employees to take it as salary

The Paypers

(The Paypers) A report in The Information has revealed that Facebook will announce its cryptocurrency later this June, allowing the employees to take their salary in the form of the new currency

Deep Dive: The State Of mPOS In North America

PYMNTS

Mobile point-of-sale (mPOS) solutions have enjoyed widespread uptake in much of North America, and the region’s related market could see continued growth if solutions providers, government officials and other stakeholders play their cards right.

New role for blockchain; why so many bankers run

BankThink

Digital Asset Holdings eyes blockchain for 'smart contracts'; readying for a marathon is like competing for a big client. Morning scan AML Crime and misconduct Career moves Penalties and fines Contactless payments Blockchain Gender issues Barclays

Amazon Walmart Whole Paycheck Tracker: Better Delivery By Any (And Every) Means

PYMNTS

There are full weeks in the race to control the consumer’s whole paycheck — and then there are very full weeks.

A Quick Guide to Getting a Student Loan

Let's Talk Payments

We all hate student loan debt with a passion, but somehow, we all need it to get a good education. Unfortunately, the success of many young Americans depends on student loans, which is why it is crucial to understand the ins and outs of the industry.

Retailers Give Fresh Focus to Single Consumers

PYMNTS

Forget millennials, that consumer segment that is blamed for the downfall of most everything while also being the target of many innovative efforts. Single consumers are a force of nature as well when it comes to retail.

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