Bank Innovation

JUNE 23, 2016

Lucy Peng, CEO, Ant Financial Ant’s latest fundraising round – the largest ever anywhere – of $4.5 billion, and its overall valuation of more than $60 billion, have turned the Alibaba spinoff into one of the most valuable private tech companies in the world. Launched in 2014, Ant Financial Read More.

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Bank Innovation

DECEMBER 24, 2018

Card payments increased 10.1% by value from 2016 to 2017. The Federal Reserve’s triennial report on payments released last week shows accelerated electronic payments growth, as well as signs that fewer people are paying by check or withdrawing cash from ATMs. by number and 8.4% For comparison, these payments had increased 7.8%

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PYMNTS

OCTOBER 26, 2018

Corporates across the Asia Pacific region are increasing their use of commercial card products, according to a new report from Citi. Businesses increased their spend on commercial cards by 24 percent in 2017, Citi’s analysis found. Reports in The Asset on Thursday (Oct. Reports in The Asset on Thursday (Oct.

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PYMNTS

JANUARY 2, 2019

While commercial card innovation certainly accelerated in 2018, progress can always continue. 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. One area of development that J.P. Following The Consumer Trend.

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Chris Skinner

OCTOBER 19, 2016

mln Indian debit cards: report Chancellor insists Bank of England will remain independent Fed risks repeating Lehman blunder as US recession storm gathers Handelsbanken shrugs off Brexit to post rising profits Bank of … The post Things worth reading: 20th October 2016 appeared first on Chris Skinner's blog.

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PYMNTS

OCTOBER 17, 2018

A new report from the Federal Trade Commission (FTC) says that fraudsters are increasingly requesting to be paid with gift cards, with some even asking for certain brands such as Google Play and iTunes gift cards. Google Play cards were not reported in significant numbers until this year.

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Chris Skinner

SEPTEMBER 9, 2016

Things we’re reading today include … Mastercard faces £14bn card fee claim Stephen Fry: ‘Without tax, civilisation falters’ Wells Fargo will pay $190 million to settle customer fraud case Federal Reserve asks Congress to limit Wall Street merchant banking Quantum of scholars Carney’s arrogance has diminished the Bank’s (..)

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PYMNTS

MAY 27, 2020

has unveiled a partnership to power the expansion of Crypto.com ’s end-to-end crypto ecosystem, which consists of a Visa crypto debit card and a wallet app to buy and sell crypto and earn cash-back rewards in crypto form. They can directly top-up their cards for free, or top-up fiat currencies directly from their fiat wallets on Crypto.com.

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Chris Skinner

JULY 3, 2017

There are almost 20 million users of mobile banking across the UK in 2016, making 159 logins every second. People are increasingly using banking apps to access a broader range of services such as savings, credit cards and mortgage/investments accounts, rising by 30%. Video chats are also growing in popularity, up 92% during 2016.

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Bank Innovation

MAY 1, 2016

Robinhood: On Target Launched in December 2014, Robinhood is a zero-fee stock trading app that quickly gained popularity among financially ambitious millennials. Robinhood was paid the enormous compliment of having “cracked the millennial code” by none other than Jay Sidhu, CEO of Customers Bank and founder of BankMobile.

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PYMNTS

JULY 11, 2019

To offer customers greater choice and convenience in time for the summer holiday season, Hertz , Dollar and Thrifty are welcoming debit cards at selected European locations. The majority of people renting cars today pay with a credit card, according to the announcement, but many people across Europe do not have access to one.

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Bank Innovation

MAY 5, 2017

Consumers are clinging to their physical cards, and Wells Fargo customers especially. Wells Fargo customers were the largest users of debit and pre-paid cards in the U.S. in 2016, according to Nilson Report, released last week. The report logs the top debit card issuers in the country by purchase volume, which was up 6.7%

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PYMNTS

JANUARY 13, 2021

All eyes are on the small business community in the commercial card world as industry players increasingly explore how card products can help Main Street recovery and stay in business. Small Business Card Use On The Rise. Use of a charge card similarly grew year over year from 23 percent to 31 percent.

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BankBazaar

NOVEMBER 10, 2020

Credit Cards are absolutely great. Here are four types of people who should think twice before getting a card. Published first in 2016. The post Four Types Of People Who Should NOT Get A Credit Card appeared first on BankBazaar - The Definitive Word on Personal Finance. But are they for everyone?

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Bank Innovation

FEBRUARY 24, 2016

The panel of judges — Scarlett Sieber of BBVA; Sam Maule of Carlisle & Gallagher; Ryan Falvey of the Center for Financial Services Innovation; Matt Wilcox of Fiserv; and Phil Ryan of Bank Innovation — will decide which company is worthy of the “Best in Show” DEMOvation crown at Bank Innovation 2016.

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Bank Innovation

SEPTEMBER 27, 2016

Consumer card transactions will overtake cash transactions for the first time in 2016, according to global research firm Euromonitor International. Cash is expensive to manage and is extensively used in the underworld.

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Bank Innovation

FEBRUARY 23, 2017

billion in payments in the fourth quarter of 2016, compared with $10.2 Mobile payments company Square grew its gross payment volume 34% over last year, and its loans through Square Capital were up twice that — 68%. The San Francisco-based company processed $13.7 billion in the same quarter last year. Read More.

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PYMNTS

DECEMBER 11, 2018

Mastercard is teaming up with mobile payments firm Obopay to introduce a prepaid card for corporates in India. 10) that Mastercard, Obopay and Federal Bank are collaborating on the prepaid card solution that enables corporate managers to gain greater control of their payments and expenses. Economic Times of India reported Monday (Dec.

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PYMNTS

OCTOBER 17, 2018

The Federal Reserve said in a press release that the fraud data was collected as part of surveys of depository institutions in 2012 and 2015 and payment card networks in 2015 and 2016. For every $10,000 of payments in 2015 and 2016, credit card fraud increased from $16.95 in 2016, noted the report.

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Chris Skinner

JULY 5, 2017

Fifteen years ago, only 9 per cent of total household consumption was through cards. Today, Turkey is the largest market in terms of total number of cards and point-of-sales (POS) machines[1]. There are over 120 million debit cards, 59 million credit cards, and 2.3 The vision is to have a 100 per cent cashless society.

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PYMNTS

DECEMBER 16, 2020

Founded in 2016, Form3’s cloud-native, API platform powers FIs to securely and efficiently run and scale their payments infrastructure. . Mastercard also recently partnered with Chase and Air Canada to offer Aeroplan cards to U.S. It will also offer the complete SEPA suite for European payments.

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PYMNTS

OCTOBER 17, 2018

Fraudsters Prize Payment Via iTunes, Walmart Gift Cards. Losses due to this type of fraud reached $40 million in 2017, an increase from $20 million in 2015 and $27 million in 2016. Starbucks has big hopes in China, CVS isn’t sweating Amazon competition and Ingenico inks a new European payments deal. Volkswagen Eyes eCommerce Sales.

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PYMNTS

DECEMBER 8, 2019

The Apple Card is planning to offer 0 percent installment financing on iPhones by the end of 2019, 9to5Mac reported on Saturday (Dec. During Apple’s October earnings call , chief executive officer Tim Cook hinted that the Apple Card was planning 24-month 0 percent financing for iPhone purchases. Apple Card?

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PYMNTS

JANUARY 30, 2020

Pleo , a business banking company, has announced that it is pivoting its business model in partnership with JPMorgan and Mastercard , and will now offer company credit cards instead of prepaid spending cards, according to AltFi. CEO Jeppe Rindom announced the move on Thursday (Jan.

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PYMNTS

FEBRUARY 25, 2020

The prepaid card gives fleet owners transparent operations through “extensive control over fuel spend, ease of operations, enhanced convenience and security to prevent and detect fraud in reduced TCO,” Kohli said. billion in 2016 and is projected to grow at a rate of 7.6 The global smart fleet management industry was valued at $290.9

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PYMNTS

AUGUST 13, 2020

Waze, the popular GPS navigation app owned by Google, has introduced contactless payments for ExxonMobil and Shell card holders in the U.S. But in June of 2016, Google went ahead and merged this data anyway, effectively destroying anonymity on the internet.”. country manager, in a statement.

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PYMNTS

FEBRUARY 20, 2020

It’s an area of business spend friction that is driving a newfound resurgence in commercial card innovation that the card industry hasn’t seen in decades, with FinTech firms stepping in to take advantage of card transaction data. ” The Biggest Culprits Of Waste. Nixing The Personal Guarantee.

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PYMNTS

JANUARY 8, 2020

A New York man, 39-year-old Bogdan Rusu, was sentenced to 60 months in prison on charges of using credit card skimming tactics to steal $390,141 from various New Jersey banks, according to a Department of Justice (DOJ) report. From there, they used the information to steal customers’ money from their accounts.

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PYMNTS

JANUARY 22, 2020

Commercial cards remain only a fraction of the B2B payments space, but FinTech firms, banks and other financial service providers continue to develop new solutions aimed at boosting adoption. For companies like SmartEquip and Unified Payments Group , that means introducing new ways to lift the burden of suppliers accepting cards.

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Accenture: Banking

SEPTEMBER 11, 2017

Prediction : Contactless card transactions in the UK will rise to between 6BN – 9BN transactions in 2017, (compared to my forecasts a year ago of 3BN transactions for the UK for 2016). Apple Pay) which grew 336 percent in the UK in the first half of 2017 compared to the same period in 2016 according to Worldpay.

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Chris Skinner

JULY 13, 2017

Compare that to the measly $112 billion in mobile payments in the USA in 2016, and you can see the difference. The main reason is that China was not a card-based economy. For example, China’s use of mobile payment services now outnumbers the volume of cash payments, with $5.5 trillion in payments made through apps last year.

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PYMNTS

FEBRUARY 13, 2019

Prepaid debit cards are playing an important role. Eventually, the organization had to rely on prepaid debit cards, specifically for moving money from “New York to Colombia and Ecuador to buy more cocaine.” After the cards arrived in South America, the cartel hired workers to withdraw the money from ATMs.”. Too Much Cash.

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Bank Innovation

FEBRUARY 23, 2016

When we think of cool, James Dean doesn’t immediately come to mind. The app Songsterr does. We are proud fintech nerds, and for five years we have marked the Coolest Brands in Banking on Bank Innovation based not on the type of sunglasses worn by a CEO, but on the Read More.

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PYMNTS

AUGUST 9, 2020

The executive is alleged to have falsified letters from Citadelle to Wirecard in 2016 and 2017 and did so willfully and with intent to defraud, WSJ reported. million euros ($209 million) at the end of 2016. Investigators said three escrow accounts purportedly held 143.4 million euros ($169.5 million) at the close of 2015.

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PYMNTS

JULY 6, 2020

Customers are also looking for options like digital and card-not-present (CNP) transactions that allow them to make eCommerce purchases as smoothly and seamlessly as possible. . Safety Concerns Encourage Contactless Card Use . consumers’ POS transactions were contactless in 2016, and only 3.5 percent of U.S. percent of U.S.

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PYMNTS

SEPTEMBER 15, 2020

Consider the fact that in Mexico it can take four to six months to open a business account — and as much as a year to get access to a debit card. As Poovala told Webster: “We had to get a debit card by actually creating our own startup. It’s been 20 months, and we tried to get a debit card from some of the largest banks.

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Bank Innovation

JANUARY 26, 2018

launched its Marcus digital bank in late 2016, the conventional wisdom was the investment bank wanted to expand into retail banking. EXCLUSIVE— When Goldman Sachs & Co. But, apparently, that’s not the whole story. Marcus, it seems, is an asset pricing play, Goldman’s CEO implied yesterday.

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