Tag: Digital payments

Payments won’t go back to normal. Here’s why that’s good.

The current, most-asked question is, “When will we get back to the way things were?” But that may be the wrong question to ask. After times of significant turmoil, habits never fully revert to previous norms. Instead, we respond to those events and permanently change the way we live. For example, the labor shortages of…
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May 13, 2020 0

Coronavirus pushes consumers to increase digital wallet usage

Commonwealth of Australia (CBA) reports digital wallet users spent a AUS$1 billion (about $630 million) in March 2020, a high for the bank that’s part of an acceleration to digital wallets and contactless cards during the coronavirus crisis. CBA’s digital wallet transaction dollar volume in March 2020 increased by 17% from February 2020 and outpaced…
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April 9, 2020 0

Inside the Apple Card: Mastercard’s ‘digital first, physical optional’ platform

The Apple Card takes a more aggressively digital approach to credit card relationships than most other products on the market — but the technology behind it isn’t exclusive to Apple. Following about 18 months of secretive development with Apple and Goldman Sachs, Mastercard is ready to bring the same offering to other issuers. Its platform…
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May 22, 2019 0

Noncash payments must be part of the mix

Artificial intelligence, the so-called internet of things and self-driving cars are just a few examples of technologies that have migrated from science fiction to our everyday lives. Yet the lifeblood of society, money, has until recently largely been stuck in the realm of slips of paper and chunks of metal. The payments landscape has, however,…
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February 20, 2019 0

Fiserv-First Data: Why small banks fear big fintech

The news that Fiserv is buying First Data may be unwelcome to small banks and credit unions as some fear it will create a combined entity that is even slower and more bureaucratic than the large core vendors are seen as today. The deal makes sense for Fiserv. It brings together two financial industry behemoths:…
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January 16, 2019 0

Will Visa and PayPal’s truce survive the ‘single button’ movement?

Visa CEO Alfred Kelly is less publically adversarial toward market rival PayPal than his predecessor Charlie Scharf, even as Visa’s push for a “single button” for online payments seems to undermine PayPal’s business model. Visa’s 2016 deal with PayPal has boosted Visa‘s financial performance, and Kelly praised several other partnerships with PayPal that “remove friction”…
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April 26, 2018 0

To capitalize on open banking, the industry needs standards

The age of open banking is still in its infancy. For years, fintech companies have collected consumers’ bank data when they willingly hand over their bank credentials to use a service. However, only a handful of banks are sharing financial data with third-party developers through a more secure and modern method: application programming interfaces. Some…
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April 14, 2018 0

Data: ‘Hey Siri, Alexa, Google—when will you be ready for payments?’

Voice assistants are on a fast track, with ownership of home devices like Amazon Echo and Google Home surging to between 20% and 25% of households from a mere 1% in about two years. The rapid growth is inviting keen interest in many circles about the potential for voice assistants to spark disruption in commerce,…
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April 11, 2018 0

With the right tune up, in-car payments can take off

Technologies associated with IoT are inexpensive, low powered and frequently based on common soft- ware platforms. Recent rapid development in the automotive/haulage industries allows the integration of this tech into cars/trucks. These developments have coincided with the simultaneous rise in fintech with the use of technology supporting financial services such as payments, fostering a commonality…
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March 8, 2018 0

Holiday payment volume spikes are the new norm

Whether it’s finding the perfect holiday gift for that special someone or buying the missing ingredient for tonight’s dinner, more and more shoppers are putting purchases off until the last minute. In fact, despite record-breaking holiday sales in 2017, Cardlytics’ 2017 Holiday Spend report found that 25% of seasonal sales occurred during the last two…
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February 15, 2018 0