Why Nations Fail

Chris Skinner

Robinson from the University of Chicago and co-author of Why Nations Fail, a book that changed thinking about what makes for successful countries and what makes them fail. I had … The post Why Nations Fail appeared first on Chris Skinner's blog. I was recently at a Capital Markets conference in Turkey where the main first day keynote speaker is Professor James A.

When national currencies fail (cryptocurrencies rise)

Chris Skinner

… The post When national currencies fail (cryptocurrencies rise) appeared first on Chris Skinner's blog. Venezuela is the latest country to spin into hyperinflation, showing the same signs as the meltdown in Zimbabwe that created the 100 trillion dollar note.

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America: a nation living in the 20th Century

Chris Skinner

These days, in … The post America: a nation living in the 20th Century appeared first on Chris Skinner's blog. When did you last write a check (cheque)? When did you last receive one? Although a valid payment mechanism in some countries, it has been phased out in many. Finland stopped using checks in 1993, Poland in 2006 and the Netherlands from the start of next year.

Today In How We Eat: National Cheeseburger Day, Fraud Free Pizza

PYMNTS

Today in the changing world of how we eat, Blaze Pizza finds ways to fight friendly fraud and quick-service restaurants (QSRs) digitally delight for National Cheeseburger Day. McDonald's Burger King And Other QSRs Celebrate National Cheeseburger Day With App-Based Discounts.

Kohl's Launches New Rewards Program Nationally

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Kohl’s has rolled out its new Kohl’s Rewards loyalty program throughout the country after a successful pilot in multiple markets, according to a Tuesday (Sept. 8) announcement.

Amazon Pushes For National Price Gouging Law

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Amazon urged Congress on Wednesday (May 13) to enact legislation to prohibit price gouging during times of national emergency, Reuters reported. Brian Huseman, a vice president of public policy at Amazon, said in a blog post that each of the nation’s states have different rules when it comes to price gouging. Huseman made the case for a measure that would be implemented if a national emergency is declared.

Payment nationalism is harming innovation

Payments Source

Competition between hundreds of national and global payment systems forces everybody to continually adapt, up their games, culling weaker and underperforming systems and inviting the search for better mouse traps, says Intrepid Ventures' Eric Grover.

National Australia Bank Cuts 6,000 Jobs, Shifts Staff to Digital

Bank Innovation

The National Australia Bank today announced it is slashing its workforce by 12%, or 6,000 job losses, over the next three years. Exclusive Online National Australia Bank NordeaIt will devote more resources to digital banking in future. NAB is following in the footsteps of Nordea Bank and Japan’s Mizuho Bank, both of which announced job cuts this week. Andrew Thorburn, […].

Two Chinese Nationals Charged With Laundering $100M In Crypto

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Two Chinese nationals were charged by the U.S. North Korea continues to attack the growing worldwide ecosystem of virtual currency as a means to bypass the sanctions imposed on it by the United States and the United Nations Security Council.

National Bank of Australia Adds Google Pay

Bank Innovation

National Australia Bank (NAB) today added Google Pay to its roster of mobile payments services. NAB customers can now use Google Pay to make contactless payments. On its digital payment services, NAB currently has NAB Pay, which works on Android devices, NAB PayTag for iOS devices, Samsung Pay, Fitbit, and Garmin wearables. In a statement […]. Exclusive Mobile Online Open Fintech Payments contactless payments Fitbit Pay Garmin Google Pay NAB

JPMorgan Chase and National Bank of Canada Complete Blockchain Test

Bank Innovation

and the National Bank of Canada (NBC) announced today that they tested a debt insurance simulation on a new blockchain platform. JPMorgan Chase & Co. NBC issued a one-year, floating rate certificate of deposit for $150 million dollars to JPMorgan on the platform, with JPMorgan creating a replica transaction to NBC using a debt issuance […]. Corporate Innovations Lending Payments Wealth Management BlockChain fintech innovation JP Morgan Quorum

A Network In A Time Of Need: Credit Unions Go National When Disaster Strikes

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Those efforts culminated with the National Credit Union Foundation’s recent launch of the CUAid Disaster Recovery App , in collaboration with PSCU. If you look at the national banks, they have that distribution of locations and contact centers.

Fifth Third Bank has applied for a national bank charter

Bank Innovation

Cincinnati-based Fifth Third Bank has applied for a national bank charter as it expands its suite of products and services. On Thursday, the bank said it had filed an application with the Office of the Comptroller of the Currency to convert from an Ohio state-chartered bank to a national bank. A national charter will ensure […].

Punjab National Bank Faces Third Major Fraud In As Many Years 

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Punjab National Bank shares fell by nearly 6 percent late Thursday (June 9) after it was defrauded $491 million by one of its customers, The Wall Street Journal reported. Punjab National failed to provide details of the alleged fraud and declined to comment, the Journal reported.

Live Nation Settles With DOJ Over Ticketmaster Antitrust Violation

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Live Nation Entertainment reached a deal with the government, resolving concerns that the company had violated a 2010 antitrust settlement. Live Nation must notify customers from now on about the clarified and extended terms of the decree.

McDonald’s, Burger King And Other QSRs Celebrate National Cheeseburger Day With App-Based Discounts

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18, otherwise known as National Cheeseburger Day. That’s undoubtedly what inspired Domino’s to create the cheeseburger pizza for National Cheeseburger Day. In case you missed it, Google and Apple were enveloped by a teensy scandal of sorts back in 2017.

DOJ Reportedly Readies To Take Action Against Live Nation

PYMNTS

With claims that the company aimed to coerce music venues into using its Ticketmaster subsidiary, the Justice Department is reportedly gearing up to take legal action against Live Nation Entertainment, Inc. Regulation Department of Justice Live Nation News ticket sales Ticketmaster What's Ho

SoFi applies to open a national bank

American Banker

Consumer lending Digital banking ILCs National banks OCC Mortgages Student loans Nonbank Marketplace lending SoFiIf it’s approved, the charter is expected to lower the fintech’s cost of funds and allow for more product offerings.

Island Nation Mauritius To Set Up Fintech Fund

Bank Innovation

The island nation of Mauritius will now have a sovereign fund dedicated to investment in fintech. According to reports, high-level Fintech and Innovation-driven Financial Services Regulatory Committee panel met last week to discuss the possibility of the fund that would focus on, among other things, fraud, security, and blockchain. The committee consist of seven members, […]. Capital Exclusive fintech Mauritius

Inside First National Bank of Omaha’s seven-person innovation lab

Bank Innovation

First National Bank of Omaha (FNBO), with $20 billion in assets and 5,000 employees, is building out its seven-person innovation group within the bank's namesake skyscraper in Omaha, Nebraska. Daily Post 2 Daily Post 3 Exclusive Lending Open Banking Operations & Best Practices Premium Retail Banking First National Bank Upstart

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Retailers Expect 26 Pct. Spike On National Returns Day

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As online shopping powers a forecasted 26 percent year-over-year volume surge on National Returns Day, the United Parcel Service (UPS) foresees shipping 1.9 A 2018 report from the Appriss Retail and National Retail Federation noted that roughly 10 percent of products sold in the U.S.

First National Bank of Omaha’s Butterfield to speak at Bank Innovation Build

Bank Innovation

Marc Butterfield, senior vice president of digital and payments solutions at First National Bank of Omaha, will speak at Bank Innovation Build. Bank Innovation Build Carousel Innovation Strategy Retail Banking bill.com First National Bank of Omaha UpstartHe will discuss selling innovation internally, in a panel that focuses on pitching, budgets and bridging disparate interests. Butterfield has led FNBO’s internal innovation group since its launch in 2017.

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Digital Services Mean Every Bank Is a National Bank

Bank Innovation

But the most significant revelation from the company’s earnings call yesterday may be that digital banking allows any bank to become national. Pittsburgh-based PNC Financial Services Group is making a significant digital push this quarter, and highlighted a number of areas this is benefiting the bank’s consumer business. Here’s CEO Bill Demchak: I would tell […].

DOJ Claims Live Nation Violated Terms Of Ticketmaster Merger

PYMNTS

With claims that the company aimed to coerce music venues into using its Ticketmaster subsidiary, the Justice Department is reportedly gearing up to take legal action against Live Nation Entertainment, Inc. Regulation Department of Justice Live Nation News ticket sales Ticketmaster What's Ho

Mastercard Protests Payments ‘Nationalism’ In India

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government over the use of nationalism by the government in India to promote a domestic payments network there. ” Modi has said that using RuPay is akin to offering a service to the nation, given the fees associated with the use stay in India.

Live Nation’s Q2 Double-Whammy: Few Ticket Sales, But Lots Of Refunds

PYMNTS

Q2 was a lousy time to be in the live events business, as Live Nation ‘s recent earnings report demonstrates. Worldwide stay-at-home orders pretty much closed the doors on concerts, raves, festivals, sporting events and any other large public gathering, and Live Nation saw its revenues drop by an astonishing 98 percent year over year. Despite the hurricane-force headwinds, Live Nation did say the quarter contained a few bright spots.

National Bank Of Canada Blockchain Pilot Eyes Trade Finance Contracts

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The National Bank of Canada , the country’s sixth-largest bank, is collaborating with business consulting and IT company CGI to launch a blockchain-powered trade finance solution.

Apple Launches National Parks Initiative

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Apple has announced a new initiative that will help its customers support and enjoy America’s national parks. 24 through 31, the company is donating $1 to the National Park Foundation for every purchase made with Apple Pay at any Apple Store, online at apple.com or through the Apple Store app in the U.S. The App Store will also spotlight a collection of some of the best apps to help users explore the country’s national parks.

An Innovative Nation is a Connected Nation

Let's Talk Payments

The value of connectivity is difficult to overestimate – nations that are most successful in innovation adoption are the most connected nations, where the rate of internet penetration and mobile. Fintech Innovation Insights Asia Europe insights US

Coronavirus Refunds: Washington Nationals Unveil Ticket Reimbursement Procedure

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The Washington Nationals baseball team unveiled its ticket reimbursement policy for contests that the pandemic impacted, The Washington Post reported. But many teams — such as the Nationals — had halted or delayed payments for season tickets. Coronavirus Baseball New York Mets News refunds reimbursements Washington NationalsThe coronavirus pandemic is upsetting normal life the world over, and plenty of consumers want refunds on things they paid for but aren’t able to use.

Mastercard CEO Pushes Back Against National Payments System

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Ajay Banga, the chief executive officer (CEO) of Mastercard, is adamantly against any attempts to fracture the Global Payments Systems (GPS) into national domains, Financial Times (FT) reported on Sunday (Feb.

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China Creates National Cyberattack Database

PYMNTS

China revealed that it is creating a national cyberattack database and will require telecom firms, internet companies and domain name providers to report any threats to it.

Chinese National Charged In Anthem Data Breach

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prosecutors have charged a Chinese national for his alleged involvement in the 2015 data breach at health insurance company Anthem , which led to the theft of 78.8 Legal Anthem Chinese national data breach hacker health insurance indictment legal News PII privacy What's Hotmillion records.

Varo Money Raises $45M To Become ‘A National Bank’

Bank Innovation

Startup Varo Money has raised $45 million for its plans to become a full-fledged, “national bank,” the startup announced yesterday. The funds will go towards marketing its service as well as for laying “the foundation” to become a bank, company CEO Colin Walsh told TechCrunch. Varo, a mobile banking startup that provides an FDIC-insured bank […]. Capital Exclusive Mobile capital funding Mobile banking online banking Varo Money

CEOs Ask Congress For National Privacy Act

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To enable continued innovation and growth in the digital economy, the Business Roundtable is asking Congress to pass a comprehensive consumer data privacy law that establishes a national privacy framework and strengthens protections for consumers. said in an email about such legislation, “Creating a national privacy law can provide many benefits for U.S. to come up with a national privacy law had hit a wall.