Sat.Nov 24, 2018 - Fri.Nov 30, 2018

Venmo Payment Fraud Led To $40M In Losses

PYMNTS

Venmo , the digital money transfer service owned by PayPal , suffered payments fraud earlier in 2018 that played a role in the company posting losses that were higher than forecasted for the first quarter of this year.

Fraud 283

Smartwatch, bracelets help broaden mobile payment options amid competition

Mobile Payments Today

Consumer demand for smarter wearables is leading watch makers and others to explore new approaches to embedded payment technologies

Mobile 197

Three fundamental shifts in financial crime investigations

Insights on Business

Financial institutions globally are awakening to the fact that regulatory technology will drive the next wave of innovation in their approaches to understanding and stopping financial crimes. From attempted money laundering, to account takeover, to insider trading, institutions are paying attention.

Five digital transformation lessons

Chris Skinner

In a final write-up on leadership, there was a fantastic presentation about the lessons DNB had learned in trying to make digital change happen.

What Black Friday Tells Us About The Future Of Retail

PYMNTS

The verdict is in. Black Friday was a boon for online retail.

Retail 278

3 drivers helping bridge the gap to a cashless society

Mobile Payments Today

Veteran payments executive Jason Bohrer says several key consumer trends are pushing us closer to a cashless society, and the financial services industry needs to consider these developments in order to bridge the gap

Trends 179

Boost efficiency through operational innovation in financial services

Insights on Business

Now, more than ever, banks must be smarter and faster. Operational innovation is vital in a highly competitive financial services sector, with a new community of digital banks and other firms vying for market share. CFOs in financial organizations are not taking this challenge lightly.

More Trending

Overstock To Sell Retail Biz, Focus On Blockchain

PYMNTS

Overstock is gearing up to sell its retail business, with a deal taking place in the next few months as it focuses solely on its blockchain initiatives.

Retail 278

The Future of Fintech Video Series: Galileo Processing

Mobile Payments Today

This interview is part of a video series, “The Future of Fintech,” produced by Mobile Payments Today and powered by Galileo Processing

Video 156

Driving innovation in risk management: Financial risk APIs designed and engineered for the cloud

Insights on Business

Today, most banks and other financial institutions use the internet as one of the primary ways of interacting with customers. For example, online banking and customer portals allow clients to access services without visiting a physical location or even talking to a person.

If they get big enough, we will buy them

Chris Skinner

I remember years ago hearing the story of a start-up that wanted to be acquired by the big incumbent institutions. The founder was struggling to succeed, and felt that an easy exit through acquisition was the best way to go.

Amex’s Small Business Saturday Bests $100B

PYMNTS

On Nov. 24, holiday consumers and small businesses celebrated the ninth annual Small Business Saturday. The event, created by American Express as an offshoot to Black Friday , brought in an estimated $17.8 billion, according to surveys commissioned by the company.

Survey 271

Cyber Monday shoppers embrace mobile purchases like never before

Mobile Payments Today

Data from Adobe Analytics shows mobile shopping reached new heights during a record Cyber Monday

IFRS 17 adoption: Its impact and best practices

Insights on Business

International Financial Reporting Standard 17 ( IFRS 17 ) is expected to come into effect in January 2021 (though the IASB, the governing body, has tentatively agreed in Nov 2018 to postpone adoption to January 2022).

Change the bank or change the leadership

Chris Skinner

I’m likely to be blogging about leadership all this week, as that was the theme du jour of our Nordic Finance Innovation meetings in Copenhagen and Oslo last week.

Australia Gets First Virtual Commercial Cards Via Mastercard, DiviPay

PYMNTS

Expense management company DiviPay is rolling out what it says is Australia’s first Mastercard virtual commercial card for corporate payers, and the first solution in the country that combines payments with expense management automation.

Cards 252

The Future of Fintech Video Series: Cascade FinTech

Mobile Payments Today

This interview is part of a video series, “The Future of Fintech,” produced by Mobile Payments Today and powered by Galileo Processing

Video 137

110+ Startups Disrupting Brick-And-Mortar Retail

CB Insights

Americans do roughly 90% of their shopping in brick-and-mortar stores. Despite this, the rise of e-commerce is blurring the lines between physical and online retail and some traditional retailers have already fallen victim to the retail apocalypse.

Retail 112

FinTech and the Parent-Child relationship

Chris Skinner

Another theme that I talk about regularly, and that came up last week, is the FinTech relationship being like a parent and child.

Nigerian Presidential Hopeful Wants Blockchain And Crypto To Help Economy

PYMNTS

Atiku Abubakar, a 2019 presidential candidate in Nigeria, said he will support cryptocurrency and blockchain if he becomes the country’s next leader, according to the Daily Post. The push is part of his “Get Nigeria Working Again” proposal.

Mobile Money and the Global Fight Against Poverty

Mobile Payments Today

When poor households have access to the digital economy through mobile money technology, they have the key to ending their poverty

Mobile 127

Amazon vs Alibaba – the clash of the mighty techfins in numbers

Daily Fintech

We may have to soon rename ourselves as Daily Techfin. We have been focusing on the breaking of banks and their resistance to the Fintech avalanche, while Techfins have been slowly but surely capturing the FS world. Lots of numbers coming your way – so be warned. Image Source.

The Finanser’s Week: 19th November – 25th November

Chris Skinner

The main blog headlines are … Ten chairs: how to change the bank I was in the middle of a conversation about how to change the bank, when we started talking about the boardroom issue.

Maine 161

Why 95 Pct Of Consumers App Out When Buying Gas

PYMNTS

Hook convenience store (c-store) customers on a user-friendly mobile experience for fuel purchases, and the benefits will accumulate.

PoS Payment Trends in Europe

Mobile Payments Today

In the Euro Area, there is huge room for growth for card transactions at POS

Trends 127

INV Fintech Announces Class 6 Associate Companies

Bank Innovation

INV Fintech, Bank Innovation’s sister accelerator, announced today the three associate members of its sixth cohort of startups. INV associates undergo a less intensive program than full class members.

Things worth reading: 30th November 2018

Chris Skinner

US 135

Where B2B Payments, Banking And Lending Connect

PYMNTS

B2B payments is all too often a waiting game, one that can be damaging to the survival of a small business (SMB).

Three drivers helping bridge the gap to a cashless society

Mobile Payments Today

Veteran payments executive Jason Bohrer says several key consumer trends are pushing us closer to a cashless society, and the financial services industry needs to consider these developments in order to bridge the gap

Trends 118

Digital Customers Drive 72% of Revenue at DBS Bank, CIO Says

Bank Innovation

Singapore-based DBS Bank wants to be an invisible agent of change in the realm of digital banking. Over the course of a decade of transformation, it has received awards and recognition worldwide for its digital banking services and innovation efforts.

Course 130

Things worth reading: 28th November 2018

Chris Skinner

Things we’re reading today include … Which scientist should be on the £50 note: Hawking, Fleming, Turing … or Thatcher?

Data 132

Plastiq Talks Commercial Cards, ePayment Trends

PYMNTS

Adoption of commercial cards in B2B payments has emerged as one of the hottest industry topics of the year thanks to new FinTech innovations and industry leaders like Visa and Mastercard making a push further into the market.

Trends 252

Interesting Findings in UK Survey of ATM Usage | Cash | In store | Research | Payments

Mobile Payments Today

Are consumers happy with the service and quantity of ATMs found in the UK and abroad? A recent survey carried out by Transaction Network Services reveals some interesting findings in the way we use ATMs. View the results in our latest infographic

Survey 118

Dan O’Malley, CEO of Numerated, to Speak at Bank Innovation Ignite

Bank Innovation

Dan O’Malley, CEO of Numerated Growth Technologies, Inc., will speak at Bank Innovation Ignite in Seattle in March 2019 on Building the Future of Banking.

Informed Delivery. The most valuable tool from the Postal Service since the Pony Express.

Long Lasting Ideas

Every morning, my friend Sid Haas, a veteran marketing executive in Peru, Ill., checks his e-mail, and gets a notification from the U.S. Postal Service, telling him – in some cases showing him — what will be in his mailbox that day.

Tools 85

HSBC To Launch AML System With Google Cloud

PYMNTS

HSBC , one of the largest banks in the world, wants to launch its new cloud-based anti-money laundering risk management system by next year, according to Reuters.

Google 237

TNS and INET Partnership Revolutionizes Thanachart Bank's Merchant POS Service | Retail | Point-of-Sale | Hospitality | Business

Mobile Payments Today

Thanachart Bank is strengthening the POS services it provides to its merchants and their 30,000 terminals with TNS' managed dial service, Secure Internet Gateway and Global Wireless Access solutions. This case study details the reliable, high bandwidth service which can carry a large volume of transactions