In the U.S., Visa Direct has emerged as one of the few go-to tools for fast payments in a market that is overdue for such options. The product’s true test begins now, as Visa launches it in Europe, where faster payments options are far more plentiful. Among Visa’s biggest challenges will be Mastercard, which zoomed…
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The information you need to start your day, from PaymentsSource and around the Web: Cash pours into cross-border payments tech: A group of investors from Europe, Asia and the U.S. has invested $280 million in TransferWise, providing fuel for the London fintech’s Asia-Pacific expansion, as well as the company’s ability to reach “gig economy” workers…
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Bank futurists seem to coalesce around the same prediction: Technology will take over banking. So banks must get on board, they say, with data mining, artificial intelligence programs and other high-tech services — or they risk their demise. Few people take issue with the premise of this argument. Technology and online banking is, after all,…
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American Express will become the exclusive issuer of Hilton Honors cobranded credit cards in January, taking over the entire portfolio it previously shared with Citigroup. With an estimated 18 million Hilton Honors cardholders in the fold, American Express is also introducing Hilton’s first small-business traveler card and a premium card that stresses luxury benefits and…
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Earlier this year, the Consumer Financial Protection Bureau called for comments on the many issues associated with how consumers share bank account data with third-party companies like Intuit’s Mint or Kabbage. In response, leaders at financial institutions generally expressed concern about potential security breaches while fintech companies generally supported the demands of consumers having access…
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The financial technology revolution, which is being led by entrepreneurs rethinking everything from the way people save to how they apply for a mortgage, has the potential to put consumers in control of their own financial lives — so long as their various financial accounts can work seamlessly together with the third-party app the consumer…
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