January, 2019

Stripe Raises $100M, Boosting Valuation To $22.5B

PYMNTS

Stripe, the San Francisco digital payments startup, has landed a $100 million investment from Tiger Global Management, boosting its valuation above $20 billion.

The CEO and Chair make digital banking work

Chris Skinner

I claim that most of the banks embracing true digital transformation and not just treating digital as a channel, are led by people who understand technology. They have a leadership team who are passionate about digitalisation, and see it as a core raison d’etre of the bank’s future.

8 mobile payment trends that matter for 2019

Mobile Payments Today

Eight major trends will help define the landscape of mobile payments in 2019, according to Mark Flamme of AlixPartners

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Risk management in the cloud: A strategic imperative

Insights on Business

For financial institutions, the benefits of moving away from legacy in-house systems to the cloud are obvious. A cloud environment offers financial institutions greater speed and agility than their current environments.

Fortnite’s In-Game Currency Used In Money Laundering Schemes

PYMNTS

A new report has revealed that Fortnite’s in-game currency is being used to launder money from stolen credit cards.

Credit Unions Step Up During Government Shutdown

PYMNTS

There is no shortage of headlines about the partial government shutdown that is now on its 27th day, and no shortage of articles speculating how long it will go on, what will be affected and (most often) what it will take to finally bring it to an end.

Mastercard Fined $648.3 Million By EU Over Interchange Fees

PYMNTS

Mastercard was slapped with a $648.3 million fine by the European Union, which alleged that the payments company raised the costs of card payments artificially.

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More Trending

How financial institutions are embracing blockchain

Mobile Payments Today

What's holding the blockchain back? What can make it more secure? Panelists at Financial Services Data Security Summit, sponsored by Thales and Networld Media Group, shared thoughts on these issues

Why Banks’ Immune Systems Need Both AI And Human Boosts

PYMNTS

As fraudsters become more brazen in their efforts, banks are realizing they need to do more than simply respond to suspicious activities as they find them. Instead, a deeper understanding of fraud — down to its genetic outline — is needed to be truly effective in fighting it.

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Nearly 100 Chinese Tech Startups Hit Unicorn Status In 2018

PYMNTS

China’s startup market had a good year in 2018, with close to 100 technology companies garnering a valuation of more than $1 billion.

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Blockchain Makes Inroads Into Banking

PYMNTS

In Asia, blockchain continues to get a boost from government and regulatory efforts, especially in the realm of trade finance done across borders.

Why Africa Is eCommerce’s Next Great Frontier

PYMNTS

Africa as next great eCommerce frontier? The ingredients for a revolution in payments across the region, fueled by demographics and technology, seem to be there.

The new FinTech bank

Chris Skinner

For years, I’ve been wondering why people in business operations couldn’t align their needs with the people delivering technology in the organisation. The CIO would sit outside the business, watching and responding to requests.

Looking ahead: Setting expectations for banking and mobile payments in 2019

Mobile Payments Today

The banking industry is facing multiple challenges in the face of stiff competition from fintech startups and disruptive applications that provide direct access to loans, credit and other critical services

Amazon Plans Whole Foods Expansions In Closed Sears Stores

PYMNTS

Amazon has its eyes on expansion for its Whole Foods brand in closed Sears and Kmart stores, according to a report by Yahoo! Finance. The recent woes of Sears and other struggling retailers are seen as an opportunity for the online retail giant. Sources told Yahoo!

mPOS At 37,000 Feet

PYMNTS

With the global mobile point of sale (mPOS) market projected to experience a compound annual growth rate (CAGR) of 18.8 percent from 2017 to 2026, many solution providers are looking to use partnerships as a boost to snag a bigger share of the growing market.

2019: Big Payment, Commerce And Tech IPOs Loom On The Horizon

PYMNTS

Tech companies are taking more time to reach their initial public offerings, with the median gap between their early financing and their IPOs hitting 10.1 years in 2017, up from 6.9 years in 2013, according to a recent estimate.

In 2019, Mobilize The Commercial Card: JPMorgan

PYMNTS

While commercial card innovation certainly accelerated in 2018, progress can always continue. One area of development that J.P. Morgan Managing Director and Head of Commercial Card Product Management Naney Pandit says should be a focus this year is in mobilizing the corporate card.

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Digital transformation needs a burning platform

Chris Skinner

Ever since I started working in business process re-engineering and transformation a while ago, before most millennials were born I should say, I learnt a lesson early on. Transformation will never work without a crisis point.

The growth of mobile POS and preventing fraud

Mobile Payments Today

Mobile point-of-sale systems are a growing consideration for retailers, but carry a number of concerns about fraud and secure payment

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PSD2 Creates Turbulence For Travel Operators

PYMNTS

With PSD2 in full swing in the European Union (EU), any merchant dealing with the payment data of EU citizens must upgrade their payment protocols to stay compliant.

Corporates Step Up To Welcome AI, Blockchain

PYMNTS

In a recent report published by Protiviti and North Carolina State University, analysts found just how important technology and innovation are becoming for corporate executives.

Walmart Tests New Payments Approach To Up Online Conversions

PYMNTS

Walmart is testing out a new solution designed to automatically address soft declines on its eCommerce site.

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RBS Slapped With Lawsuit Over Frozen Accounts

PYMNTS

The Royal Bank of Scotland (RBS) is being sued by an unnamed British payments company over allegations that RBS froze accounts on suspicion of illegal activity by the company’s clients, according to a report in the Financial Times.

Banks need to be technology giants

Chris Skinner

I got into one very interesting discussion with a digital banker. He was underscoring how important data is in banking, and referenced the fact that banking started with data.

Automakers expand connected car ecosystem with payment technologies

Mobile Payments Today

Automakers from Honda to GM and Hyundai see mobile payment technology as a key component in developing connected car technology

Banks As The Keeper Of Consumer Digital IDs?

PYMNTS

You can’t have trust without some type of trusted authority, and any type of authority is fragile without a reasonable level of trust.

Mastercard Eyes SMBs As Drivers Of FinTech Competition

PYMNTS

Mastercard has released its latest report on the FinTech landscape, with analysts fixing their eyes on the small business (SMB) community to drive competition and innovation.

Mastercard To Apply For China Payments License

PYMNTS

Mastercard , the payments company, said late last week that it is still committed to operating in China. In a press release , Mastercard said that it is making every effort to secure the license to access the domestic Chinese market and confirmed it is in active talks with different solutions.

No Pain, No Gain? GDPR, PSD2 And The New Payments Reality

PYMNTS

Ten Top Trends for 2019

Chris Skinner

Hello, hello and hello again. Welcome to 2019. A brand new, fresh, shiny year, and just out of the starting gate. Having said that, yes we are still talking Brexit and we still find a group of shady bankers knocking off billions. Same s**t, different day, as Stephen King would say.

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How Inefficient B2B Payments Systems Hobble Business Growth

PYMNTS

Business confidence remains strong in the U.S., riding on the optimism of a strengthening economy that brings new opportunity for revenue growth.

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2019: What To Take Forward And What To Leave Behind

PYMNTS

Welcome to the first Monday of 2019. According to the Chinese calendar, 2019 is the “Year of the Pig” – which may not, at first blush, inspire much excitement for the 358 days ahead of us.

Alipay In X-Border Blockchain Pact

PYMNTS

The new year has dawned with a number of cross-border payment pacts, done across blockchain and other means.

Warehouse Robots Pave The Way For More AI Logistics

PYMNTS

Robots have taken their place inside eCommerce and other commerce-related warehouses, and will in the coming years take even larger roles in fulfillment, according to estimates.

JPMorgan To Issue Virtual Cards In Coupa Pay

PYMNTS

Coupa has announced another bank partner to join its recently launched suite of B2B payments solutions known as Coupa Pay. Coupa Software and JPMorgan announced on Tuesday (Jan.

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Will blockchain replace core banking?

Chris Skinner

I’ve got lots more to write about digital transformation and the things I’m learning from banks engaged in doing it but, to give you a break, I also have a couple of fantastic guest submissions which are worth sharing.