Don’t Send Payment Reminders with Social Media, FICO Says
Bank Innovation
NOVEMBER 21, 2017
Consumers still aren’t comfortable receiving notifications like late payment reminders through social media channels, a study released today by FICO found.
What does the future hold for social media-powered payments?
American Banker
MARCH 18, 2024
Despite fresh waves of online fraud and scams, czars of social media platforms, peer-to-peer networks and blockchain products have renewed ambitions to marry financial services with social apps.
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Bitcoin Joins American Express and PayPal on 2017 List of Social Media Darlings
Bank Innovation
JANUARY 24, 2018
American Express is the “most-loved” financial service on social media in 2017, according to a recent report, followed by PayPal, Vanguard and bitcoin. NetBase examined 55 brands across sectors including banking, credit cards, investment banking, payment services, insurance, online lenders and crypto.
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Social media firms should reimburse online fraud victims, say UK bankers
TheGuardian
MAY 10, 2023
Boss of industry body UK Finance accuses tech companies of ‘profiting’ from scams on their platforms The boss of the banking industry body UK Finance has called on social media companies to reimburse victims of online fraud, accusing them of “profiting” from scams taking place on their platforms. Continue reading.
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50% of social media users will utilize embedded payments in 2023
BankInovation
MARCH 30, 2023
E-commerce and embedded payments continue to gain popularity as millennials and Gen Z consumers look to social media for shopping experiences — and banks must meet their customers where they are shopping online.
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Chinese Social Media Startup Seeks Funds At $6B Valuation
PYMNTS
JANUARY 10, 2020
Chinese eCommerce and social media startup Xiaohongshu , also known as “Little Red Book,” wants to raise funds at a $6 billion valuation, according to Bloomberg. It was started in 2013 as a community online that would recommend eCommerce sites outside of China.
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131 Why AI Is Social Media Fraud’s New Best Friend
PYMNTS
JULY 5, 2019
It can be difficult these days to remember the almost idyllic promise of social media when it first entered the general consumer consciousness. That’s not to tempt one into nostalgia, or to suggest that social media has become marred beyond recognition. Digital Evolution. Fraud Increases. trillion in 2018.
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New Ransomware Uses Social Media, Demands Payment in Bitcoin
Bank Innovation
NOVEMBER 29, 2016
A new type of ransomware is targeting users through their social media accounts, most notably through Facebook and LinkedIn, before doing what ransomware does: locking the computer and demanding payment for access–in bitcoin.
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Will Our Love-Hate Relationship with Social Media Ever Break?
PYMNTS
APRIL 5, 2019
consumers and social media. Data breaches, marketing so targeted and specific that it can feel creepy, lack of privacy and regrets over wasted time — people complain constantly about how social media causes or enables all that. Yet those same people find it hard to quit the Facebook, Twitter and social media platforms.
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ING Enables Customers To Make Payments On Social Media
PYMNTS
SEPTEMBER 13, 2016
ING is gearing up to overhaul social media websites , transforming them into ways to make payments. According to a press release , ING said it will transform social media sites, including WhatsApp, Facebook , Twitter and LinkedIn, into payment request channels for customers who use its mobile app.
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Jumper.ai launches social media integration for Amazon merchants
Payments Source
APRIL 11, 2019
Social media commerce platform provider Jumper.ai is helping Amazon merchants complete online transactions without the buyer being redirected to the Amazon online marketplace.
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Executive Order Looms For Social Media Firms On Content?
PYMNTS
AUGUST 19, 2019
The summary, according to the site, would direct the FCC to develop new regulations that would detail how the law may protect social media platforms as they move to take content off their sites – and to take those new regulations into account when investigating or filing suit against those firms. In the UK, Too.
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128 PYMNTS’ Daily Data Dive: Digital Wallets Take Front Seat In Social Media Conversations
PYMNTS
MARCH 1, 2017
In today’s social media sphere, politics might seem to be the most talked-about topic, but that would be an incorrect assumption. In Mastercard’s 2017 Digital Payments Study , the credit card company found that digital wallets were the high topic of conversation among social media users. Here are the numbers: 3.5
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Facebook Likes Payments: Cryptocurrency, Not So Much
Bank Innovation
FEBRUARY 1, 2018
EXCLUSIVE – Payments might not be a substantial portion of social media platform Facebook’s revenues, but it is an important one — particularly as non-payment companies increasingly begin to launch payment capabilities for social media platforms such as Messenger. That’s […].
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GoDaddy Agrees To Buy Poynt To Boost Digital Payments Technology
PYMNTS
DECEMBER 15, 2020
GoDaddy has agreed to acquire Poynt , which lets businesses sell and accept payments anywhere through its suite of products, according to a press release. GoDaddy was interested in Poynt because of the digital shift in payments due to the pandemic, as well as in-person and online shopping converging more all the time, the release stated.
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TD Rolls Out Online Accounting In Bid For Small Biz Accounts
PYMNTS
AUGUST 17, 2020
In a push to bring in more small business accounts, TD Bank is launching a new online payment and accounting feature on its online platform for small businesses. The new TD Online Accounting features technology developed by Detroit-based Autobooks. 17) press release.
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Facebook Won’t Be Monetizing Payment Bots, Exec Says
Bank Innovation
MARCH 8, 2017
Facebook payments revenue stream has been on a steady decline for years now. Last year, the social media giant introduced payments via dozens of bots in its Messenger platform, which (some thought) could in time revive the payments revenue stream for Facebook. […]. SAN JOSE, Calif.
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Study: More People Fall Prey To Fraudsters Online Than By Phone
PYMNTS
SEPTEMBER 30, 2019
A recent study about how people respond to scammers shows that consumers are more likely to become victims on social media and online marketplaces than over the phone, The Wall Street Journal reported on Sunday (Sept. The average loss was $600. The gift cards are sold at a discount in exchange for cryptocurrency.
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Deep Dive: Why Retailers Are Merging Online, In-Store Shopping For The Omnichannel Age
PYMNTS
SEPTEMBER 21, 2020
Consumers have shopped online, via mobile devices and at brick-and-mortar stores in various capacities for years, but the pandemic is dramatically expanding the connections between these channels. Consumers’ expectations regarding merchant interaction and support have also shifted to mirror their pandemic-driven payment preferences.
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B2B Venture Capital: Corporate Social Media, Marijuana Procurement, and Big Data
PYMNTS
APRIL 7, 2017
This week, the two countries were the only markets that landed on the B2B venture capital board, with funding landing at SaaS, Big Data and procurement startups across a range of industries, from corporate social media management to marijuana procurement. PYMNTS breaks down the $24 million in venture capital raised. Back in the U.S.,
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Brazil’s Central Bank Shuts Down WhatsApp Payments
PYMNTS
JUNE 24, 2020
Brazil’s Central Bank has suspended WhatsApp’s payment feature in the country, citing antitrust concerns, according to Bloomberg on Tuesday (June 23). Mastercard and Visa have been requested to stop payments and money transfer services through the app in Brazil as well, the bank said.
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How Payment Platforms Connect Merchants With Augmented Reality
PYMNTS
DECEMBER 26, 2018
To let shoppers discover and try out new products, payment companies are helping merchants launch augmented reality (AR) experiences within social media platforms. Pan-African payments firm Cellulant , for instance, created an AR experience in Facebook Messenger.
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Report: Helping Online Merchants Comply With The Middle East’s New Payments Regs
PYMNTS
SEPTEMBER 28, 2020
Banks, businesses and consumers fundamentally altered how they interacted with each other in the early months of the COVID-19 pandemic — and regulators tasked with making sure their data and payments are kept safe took notice. Why Pandemic-Driven Online Payment Spikes Are Pushing Middle Eastern Regulators To Confront Privacy Questions.
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Facebook Launches Messenger P2P Payments Feature in The U.K.
Bank Innovation
NOVEMBER 7, 2017
Social media mogul company Facebook has launched P2P payments through Facebook Messenger in the U.K. is the next market to have the service, after Facebook first launched the payments feature in the U.S. According to reports, all major banks in the U.K. are taking part in the service. To use […].
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A Merchant’s How-To For Managing The Contactless Payments Surge And SCA Requirements
PYMNTS
JUNE 29, 2020
The pandemic has drastically affected how consumers are shopping and paying for even routine purchases, and this in turn has altered how businesses are accepting their payments. The health crisis has brought about changes to this rule, however, and these may have long-term implications for payment standards and regulations.
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The Digital Payments Key To Keeping Donors In A Charitable Mood
PYMNTS
JANUARY 28, 2021
The January Navigating Nonprofits’ Digital Payments Shift Report examines how nonprofits are turning to digital payment methods, virtual fundraisers and other tools to keep their contributions coming in. Around The Nonprofit Payments Space. Read the full story in the Report. Read more in the Report. About The Report.
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Square Challenges PayPal With New SMB Payment Tool
PYMNTS
MAY 7, 2020
The new payment tool was designed for small businesses looking to move from brick-and-mortar to eCommerce, the news service reported. As COVID-19 has forced shutdowns and social distancing, web sales have been on the rise, and many entrepreneurs are moving their business models online. Square charges 2.9 billion.
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How social media created new corridors for Azimo's cross-border payments
Payments Source
NOVEMBER 21, 2017
The main spark for Azimo’s transaction growth in far-flung geographic regions came from its commitment to social media beginning four years ago.
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Bitcoin Daily: BoE Economist Cites Benefits Of Digital Assets; Online Gamblers Choose Crypto To Cash Out; One Charged In $2M Crypto Theft
PYMNTS
NOVEMBER 19, 2020
A sitting member of the Monetary Policy Committee, Haldane said that introducing a digital currency could lead to something closer to “narrow banking,” where safe payments are separated from “banks’ riskier credit-provision activities.”. The future of digital currencies, Haldane said, is uncertain and most likely varied. “If
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Deep Dive: Why Seamless Payments Are Key To Customer Engagement During The Pandemic
PYMNTS
DECEMBER 15, 2020
Merchants must constantly reevaluate their customer-targeting efforts to suit the latest commerce developments, and many are pivoting from brick-and-mortar advertising to focus their outreach online or via social media channels. Contactless Payments And Consumer Engagement.
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Paymaya enables payments acceptance via social media and chat apps
The Paypers
FEBRUARY 9, 2021
PayMaya has announced the introduction of a new feature on its mobile app that allows online sellers to accept cashless payments on Viber, Messenger, Instagram, and other social media and chat apps.
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Today In Payments Around The World: IBM Buys Canadian Firm Expertus Technologies; GoJek Unveils GoBiz Plus System For Merchants
PYMNTS
DECEMBER 16, 2020
In today’s top payments news around the world, IBM has bought Canada-based Expertus Technologies, while Gojek is rolling out its new GoBiz Plus point-of-sale (POS) offering. Gojek Debuts POS System for Indonesian Merchants That Accepts Cashless Payments. Plus, Bridgetown Holdings is reportedly thinking about a deal with Tokopedia.
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Today In Payments Around The World: JD.com Works With China’s Central Bank On Cryptocurrency; US Users Rush To Get WeChat App
PYMNTS
SEPTEMBER 22, 2020
In today’s top payments news around the world, JD.com is working with China’s central bank to advance cryptocurrency, while U.S. WeChat users are reportedly racing to get the Chinese mobile payment, messaging and social media program. JD.com Joins China’s Central Bank To Advance Digital Currency. 18) and Saturday (Sept.
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Luxury Retail Steps Up Its Offline And Online Game
PYMNTS
NOVEMBER 26, 2019
Social Retail. Meanwhile, luxury brand Burberry has teamed up with Tencent in China to offer a “social retail” store to take advantage of China’s online shopping trend and capture more of the luxury market in the country, according to a report by Reuters. The plan is to create a space that mixes physical with digital.
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131 PayPal Expands Partnership with Facebook Messenger, Introduces P2P Payments
Bank Innovation
OCTOBER 20, 2017
PayPal is continuing to drive forward with mobile and digital payments, announcing an expansion of its partnership with social media service Facebook that will allow users to send and request money with PayPal via Facebook Messenger. Messenger has over 1.2 billion users. PayPal has 218 million.
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Facebook Can Now Use Visa Token Service for Payments
Bank Innovation
OCTOBER 24, 2017
Continuing its development of financial technologies on its platform, social media firm Facebook has joined a Visa program that enables the network to access its Token Service for payments, Visa announced today.
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PayPal Adds Invoice Feature to Facebook Messenger
Bank Innovation
NOVEMBER 22, 2017
EXCLUSIVE – The latest in PayPal’s busy week: the payments company is now letting users create an invoice through the Facebook Messenger service, expanding on its recent partnership with the social media platform to enable P2P payments through Facebook’s chat service.
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Standard Chartered, Amazon To Offer Installment Payments In UAE
PYMNTS
SEPTEMBER 16, 2020
Standard Chartered and Amazon.ae , the company's United Arab Emirates website, are launching a new installment payments method for customers, according to The Fintech Times. We have seamlessly integrated this new payment option into the Amazon.ae We have seamlessly integrated this new payment option into the Amazon.ae
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207 Is #donate The First Step To #buy?
PYMNTS
DECEMBER 5, 2018
That’s what led him to Goodworld, an online platform that removes the friction from digital donations, making them possible (and secure) by using hashtags. Payments Facilitator. When asked to explain the Goodworld model, Gossart told Webster that “we are a social payments platform, but really a payments facilitator.”
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Amazon Pay: How Brands Can Create Trusted Conversations With Consumers Online
PYMNTS
SEPTEMBER 9, 2020
There are many ways to mark the massive shift to digital that’s happened in the past six months, from baby boomers who’ve moved online after favoring real-world shopping to merchants who’ve made a hard shift toward digital and omnichannel. She said a “trust halo” that surrounds the payment product often acts as a boost for other brands.
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220 Twitter's 'Gryphon' chases its longtime fantasy: Social media payments
Payments Source
JULY 9, 2020
In a simple job posting and reference to a subscription platform, Twitter drew attention to how it could use its platform to embed in numerous use cases that tie social tools, recurring revenue and digital commerce.
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75 Will Privacy Worries Change Online Search Habits?
PYMNTS
SEPTEMBER 14, 2018
How do consumers really want to search online ? That’s a question with obvious relevance to payment and commerce operators. Social media platforms and other digital operators are scrambling to stay a step ahead of the wave. New laws favoring consumers have come into effect. Further regulations are looming.
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The Best Online Banks Right Now
Bank Innovation
FEBRUARY 21, 2019
Keeping your money in a bank is common sense at this point, but online banking is – unfortunately – not something many people have grown accustomed to, yet. There are many benefits to explore in this area, and it’s not a bad idea to check out what some online banking services can do for you […].
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How social media can make crypto payments mainstream
Payments Source
MAY 17, 2021
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