FIS Buys Worldpay In $35B Cash, Stock Deal


Fidelity Information Services ( FIS ), a global financial services technology company, announced Monday (March 18) it is merging with Worldpay , the global eCommerce and payments company, in a roughly $35 billion dollar deal.

AI and the rise of digital humans in financial services

Insights on Business

“AI is not going to replace managers, but managers who use AI will replace the managers who do not,” Rob Thomas, IBM General Manager of Data and AI predicted at IBM Think 2019. [1]

Podcast Episode 15: Banking on the Gig Economy

Mobile Payments Today

Joust CEO Lamine Zarrad carves out a unique space among fintechs by addressing the special circumstances of freelance workers

Why Technology Isn’t Bank Transformation’s Silver Bullet


Is there a right way and wrong way to innovate? For banks interested in transforming their brick-and-mortar branches, maybe, according to Diebold Nixdorf Senior Director of Advisory Services Chris Gill.

Square Expands To Offer Retail Online Store, Improved POS App


Square has two new offerings: the revamped Square Online Store and Square For Retail, introduced in an announcement by the company on Wednesday (March 20).

Retail 271

How Wells Fargo Uses AI, Biometrics To Fight Money Laundering


Digital banking customers of today aren’t looking for the bank with the newest features — they’re looking for the bank that can keep their data safe. Any security mishap can send customers to one of the other digital banking apps that are ready and waiting for them.

Amazon, Worldpay And A One-Click Entrance To A New Commerce Ecosystem


Amazon Pay is a well-established payment method across online commerce — and not only because it’s the home payment method of the largest, most successful eCommerce platform in the U.S.

More Trending

Philadelphia Passes Ban On Cashless Stores To Fight Income Discrimination


Lawmakers in Philadelphia have passed a ban on cashless stores, making it the first major city in the U.S. to do so, according to a report by The Wall Street Journal. The new law will take effect in July and would require most retail outlets to accept physical currency.

PayPal Powers Instagram Checkout


Instagram has launched a checkout feature designed to help the social media platform become a more attractive place for consumers to buy retail products, and to capture more sales via what is coming to be known as contextual commerce.

How Many Multibillion-Dollar Deals Does It Take To Change Payments?


Behind the billions of dollars — OK, make that tens and tens of billions of dollars — in deal-making that has marked the payments space in the just the first few weeks of 2019, lies, of course … strategy.

Facebook Working On WhatsApp P2P Digital Currency


Facebook , Telegram and Signal are looking to launch their own cryptocurrencies that will allow users to send money internationally on their messaging systems.

How financial services firms are using chatbot technology to transform their businesses

Insights on Business

The IBM Watson Assistant team has been busy in the past year helping clients implement state-of-the-art chatbots. The financial services industry is one of the fastest adopters of this technology. As a result, at IBM Think 2019 you’ll be able to find a number of client-led sessions.

PayPal CEO: Digital Payments To Be $100T Market


There are markets and there are $100 trillion markets. And might digital payments be in that $100 trillion classification?

Visa, PayActiv Launch Real Time Payroll


The gig economy has changed — and is still changing — when we work, how we work and, of course, how we get paid. Readers of this space may recall some stats at the end of last year, where the PYMNTS Gig Economy Index found that as many as one-third of workers in the U.S.

Course 277

Will Consumers Want To Monetize Their Own Data?


If headlines are any indication, data breaches have made off with consumers’ most sensitive bits of information, such as Social Security numbers, credit card info and bank details. Advertisers pay Facebook to display targeted ads, and Facebook shares data (though it maintains it doesn’t sell it).

Data 263

Ripple Expands Into Middle East, Canada


Mercury FX , the international currency exchange provider, is reportedly relying on Ripple’s XRP xRapid to open up ten new payment corridors by the middle point of this year.

Report 280

Ant Financial Launches Banking As A Service Platform


Ant Financial Services Group and Jiangsu-based Hoperun Information Technology announced Wednesday (March 7) a new banking product aimed at financial institutions.

The Price Of Paying With Plastic Is Going Up


The costs of using some cards is going on the incline, as news is breaking that the nation’s two largest card networks, Visa and Mastercard, are preparing to up the fees charged to merchants to accept network-branded cards.

Course 282

How PSD2 Will Change Lending


Merchants and customers are now transacting under PSD2 and GDPR in the European Union (EU) — regulations that allow a greater window into how customer data is being used.

Flywire Surpasses $10B In Total Payments Volume


Global payments and receivables company Flywire enjoyed strong growth in 2018 that it plans to carry into this coming year and over $10 billion in total payments volume.

Visa: EMV Cuts Card-Present Counterfeit Fraud By 80 Pct


Merchants saw a drop in card-present fraud due to the increased adoption of Europay, Mastercard and Visa (EMV) chip cards, Visa said. Merchants who have upgraded to chip technology saw a decrease of 80 percent in counterfeit fraud dollars in September of 2018 when compared to September of 2015.

Fraud 282

Adyen Launches New Open Banking Payment Service


Adyen, the payments platform, announced Wednesday (Feb. 20) it has launched a new payment service that is powered by open banking.

Chase Going After PayPal, Stripe In eCommerce Payments


JPMorgan Chase is gearing up to take on the likes of Apple Pay, PayPal, and Stripe by boosting its market share in the global treasury services industry by a goal of 50 percent.

Apple Buys Payments API Developer Stamplay


Apple has reportedly acquired API integration developer Stamplay for 5 million euros ($5.678 million). The Rome-based startup won a contest to make the best use of new Visa APIs, according to Venture Beat.

Apple 249

Faster Payments: Does The Fed Have A Hidden Agenda?


“Connect the dots” is used as a metaphor for describing how a series of discrete events can explain a “big picture” – often high-impact – action or outcome.

Why Retailers Are Making mPOS Technology A Top Priority


In the age of digital payments, mobile point of sale systems (POS) are making inroads with the promise of time-saving conveniences for merchants. These systems can provide restaurants with the ability to check their inventories or update their menus, for example.

Retail 266

Credit Unions Step Up During Government Shutdown


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.

How Do You Get To A ‘Perfect’ Payments Place?


Here’s an exercise that may come off as too academic – like a debate over how many angels fit on a pinhead – but is really among the most vital for not only PYMNTS readers, but pretty much any other business operators: What is the perfect payments experience?

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


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

Mastercard Acquires Transfast To Expand Cross-Border Services


Microsoft disclosed on Friday (Mar. 8) that it will acquire global cross-border money transfer company Transfast, which works with both P2P and B2B payments.

Amazon Plans Whole Foods Expansions In Closed Sears Stores


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!

AlipayHK Expands With Cross-Border Payments To Japan And Greater Bay Area


AlipayHK users will soon be able to use the service in parts of Japan and Southern China, the company said on Tuesday (Feb.

Chase Tries To Win Over More Unbanked Consumers


The percentage of unbanked people in the U.S. recently fell to the lowest rate since the 2007-2009 financial crisis, but a new product launch from JPMorgan Chase & Co. underscores the fact that tens of millions of U.S. households remain unbanked.

FDIC 256

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


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

Why Africa Is eCommerce’s Next Great Frontier


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.

Google Pay Is Coming To eBay


Very soon, eBay shoppers will be able to choose Google Pay as their payment method when checking out. The move comes as the latest expansion of its newly redesigned payments experience.

Google 249

What ATMs And Open Source Have To Do With Payments Innovation


It might be the case that 2019 takes shape as a watershed year for payments regulation, marked by PSD2 and GDPR. Stakeholders in the financial services and payments arenas are navigating new rules about how data is collected, stored and shared.

ATM 266