CB Insights

AUGUST 23, 2018

trillion in total assets, JPMorgan Chase is the largest bank in the US. Its retail bank, Chase, spans 61 million American households. Led by Chairman and CEO Jamie Dimon, the bank is undergoing a transformation, moving away from offline legacy systems and into the digital age. Live briefing: Consumer Banks in The Digital Age.

Consumer 76

Consumer Online and Mobile Banking Credit Cards Push-to-Card 76

PYMNTS

DECEMBER 11, 2019

Since the rise of M-Pesa in 2007, mobile money wallets have become prevalent across Africa. Because their mobile money wallets lack a virtual or physical network credential associated with them, in general they can not work with international use cases. percent between 2019 and 2020, reaching $51 billion.

Cross-Border 57

Cross-Border Credential Online and Mobile Banking Push-to-Card 57

PYMNTS

AUGUST 15, 2019

Japan, in the last several years, has been something of a puzzle among mobile payments watchers around the world. And the first mobile wallet in history launched in Japan — created by I Mode and DOCOMO 20 years ago in 1999. PayPay And Signs Of Mobile Acceleration. It’s the market that should ignite but stubbornly refuses to.

Mobile Payments 61

Mobile Payments Online and Mobile Banking Payments Push-to-Card 61

PYMNTS

JANUARY 1, 2021

Digital-First Banking. Banks will need to seriously revamp their in-branch experiences to accommodate the new normal as customers are growing used to the unparalleled convenience and speed that mobile banking has to offer. We suspect this is going to broaden the demographic.”. Disbursements.

Economy 103

Economy Online and Mobile Banking Credit Union Money Laundering 103

PYMNTS

JUNE 3, 2020

Brick-and-mortar branches shuttered as social distancing measures were enforced, and customers subsequently turned to mobile apps or websites to fulfill their banking needs rather than risking in-person visits. Online account openings have increased 14.5 Confronting Digital Banking Reality.

Online and Mobile Banking 52

Online and Mobile Banking Contactless Payments Mobile Banking Volume 52

PYMNTS

DECEMBER 24, 2020

If there was a defining trend for payments in 2020, or a trend that gained the most traction compared to 2019, it was buy now, pay later (BNPL). Millennials have shown remarkable interest in these solutions, which allow consumers to finance purchases with specific terms when they check out online. PYMNTS research shows 11.5

RTP 104

RTP BNPL Real Time Payments Online and Mobile Banking 104

PYMNTS

DECEMBER 5, 2016

The move to adopt mobile payments is progressing at a slow pace, largely because lack of a steady framework across shopping channels is slowing the adoption of mobile payments technology in North American and European markets. Baby steps toward mobile payments. consumers and 74.6 percent of U.K. and Europe.

Mobile Payments 65

Mobile Payments Multifactor Authentication Online and Mobile Banking Authentication 65

PYMNTS

JANUARY 1, 2021

Bank Of America Sees Personalized Video As Key To Rewards-Program Loyalty. John Sellers , Bank of America rewards executive. “The John Sellers , Bank of America rewards executive. Restoring Cash Flow…With Cards. On The Agenda: Five Things Retailers Can Do To Drive Conversions This Holiday Season.

B2B 103

B2B Push-to-Card Online and Mobile Banking Returns 103

PYMNTS

NOVEMBER 2, 2020

As PYMNTS noted in the Pandenomics report in early October, “the biggest change of all will likely be the share of consumers shopping for groceries online. percent of consumers who have shifted to grocery shopping online plan to maintain at least some and possibly all of their new digital shopping habits, meaning only 14.7

Push-to-Card 82

Push-to-Card Online and Mobile Banking Processors Consumer 82

PYMNTS

NOVEMBER 26, 2019

In today’s top payments news, more than half of the 3,114 counties in the United States lost bank branches from 2012 to 2017. Bank Branch Closings Take Toll On Rural Communities. Kaspersky: Fake Push Notifications Have Grown Nearly 70 Pct In 2019. Urban areas, however, lost only 9 percent of offices in 802 communities.

Online and Mobile Banking 52

Online and Mobile Banking Federal Reserve Push-to-Card NOV 52

PYMNTS

JULY 28, 2020

The debate about cloud technology’s place in the banking industry has moved beyond whether such platforms can safely transfer and store sensitive financial information. Cloud-based banking technology can help FIs keep up with digitally savvy customers, but banks must realize that no single tool is sufficient to meet their needs.

Technology 56

Technology Online and Mobile Banking SWIFT Innovation 56

PYMNTS

DECEMBER 21, 2020

And you can see it in the hustle by retailers and brands large and small to pivot their businesses and business models — and the disclaimers on just about every retail site starting a week or more ago that orders placed online might not make it in time for Christmas. One hundred and ten (110) million U.S. consumers — 47.2 percent of the U.S.

CHIPS 91

CHIPS NOV Online and Mobile Banking Contactless Payments 91

CB Insights

JUNE 17, 2020

In the wake of the outbreak, everything from doctors appointments to schooling to workouts went online. As more people have worked, learned, banked, exercised, relaxed, and even sought medical care from home during Covid-19, they have gotten a crash course in just how much can be accomplished at home. Online courses & content.

Posting 101

Posting Technology Online and Mobile Banking On-Demand 101

PYMNTS

DECEMBER 23, 2019

This year, 2019, the average American will spend three hours and 43 minutes per day on mobile devices, just ahead of the three hours and 35 minutes spent watching television. Something remarkable happened about halfway through the 2010s or at least something that ought to have been. Americans stopped talking to each other. Even better.

Online and Mobile Banking 52

Online and Mobile Banking Cybersecurity Best Practices Economy 52

Stax

NOVEMBER 13, 2023

Since the first plastic credit card was issued by American Express in 1959 , payment tech progress has been growing exponentially. EMV chip card technology had a good two decades or so, beginning in the mid-’90s. Most modern card readers and payment terminals are NFC-equipped.

Contactless Payments 88

Contactless Payments Push-to-Card Online and Mobile Banking Encryption 88

PYMNTS

DECEMBER 12, 2019

11), that public pilot officially came to an end, as Penn Station was added to the New York list of MTA stations that enables open payments using network-branded contactless cards. Penn Station is going online, and [the MTA] will enable another 50 stations this month. Yesterday (Dec. The MTA’s Greater-Than-Expected Success .

Contactless Payments 66

Contactless Payments Push-to-Card Payments Use Case 66

FICO

JANUARY 22, 2021

But despite the COVID pandemic having effected massive changes in the ways consumers transact, credit card fraud is still a “thing,” and a big, ever-changing thing at that. Exactly how big credit card fraud is depends on where you look. Credit card fraud was the FTC’s second most-reported fraud type in 2019.

Credit Cards 52

Credit Cards FTC Push-to-Card Federal Trade Commission 52

PYMNTS

OCTOBER 23, 2019

And when it comes to 24/7 real-time payments, adoption by businesses, and by consumers, will be pushed ahead use case by use case and transferring funds between accounts in minutes or seconds will gain traction. What you see through these two actions,” he told Webster, is to expand Mastercard’s role in commerce beyond cards.”

Visa 41

Visa Real Time Payments Online and Mobile Banking Payments 41

The Fintech Times

MAY 22, 2024

However, in its latest report published today, the UK banking and financial services trade association announced that there was a four per cent decrease in the amount stolen to £1.17billion in 2023. ” Unauthorised fraud losses Unauthorised fraud is when your card details are used by someone else without your permission. .”

Scams 59

Scams Finance Push-to-Card Romance Scams 59

PYMNTS

DECEMBER 16, 2019

With only 15 days left until the end of the year, the year-end push has officially begun. Visa, and more specifically Visa Direct, made two great pushes for outward expansion, while Apple is working to push both its new card and its new line of phones, possibly in reaction to its China slowdown. That’s OK, we didn’t ….

PayPal 52

PayPal Push-to-Card Consumer Financial Protection Bureau (CFPB) CFPB 52

PYMNTS

JULY 17, 2019

14, 2019, to be exact. The deadline is looming for merchants and payments providers to comply with new requirements for authenticating online payments in Europe. The second Payment Services Directive ( PSD2 ) groundwork laid out in 2016 is about to come to fruition in a few months – Sept. For example, U.K.-based

Consumer 65

Consumer Authentication Online and Mobile Banking Compliance 65

FICO

DECEMBER 23, 2019

As a corollary to this speed, we have vested outsized amounts of trust in most or all of the companies we do business with online. As a corollary to this speed, we have vested outsized amounts of trust in most or all of the companies we do business with online. How Fraud Could Happen to You. The Scams You Don’t Hear About.

Online and Mobile Banking 52

Online and Mobile Banking Credential Scams Irrevocability 52

PYMNTS

FEBRUARY 18, 2019

For those charged with managing the consumer’s trust and safety when transacting online, and in the midst of increasingly clever cybercrooks, being comfortable going against the status quo flow has become much more important than ever before, he said. I joked that I’d be a shoo-in for the job. Amazon Takes Its Bite Out of the Big Apple.

Push-to-Card 67

Push-to-Card Online and Mobile Banking Consumer Government 67

PYMNTS

OCTOBER 22, 2020

That dwarves the 2019 tally of 59 deals for gross proceeds of $13.6 To see where the great digital shift that is transforming financial services is headed…. ….follow follow the money. The discussion was part of the ongoing B2B Payments 2021 PYMNTS TV series. The panelists agreed that there is no lack of liquidity in the market. million.

FinTech 67

FinTech Online and Mobile Banking Privacy B2B 67

PYMNTS

JANUARY 7, 2019

Just a few days into the new year, early indications are that 2019 could shape up to be a “more is more” kind of a year. WhatsApp Looks To Bring Mobile Payments To 210 Million. Facebook’s WhatsApp seems to be working overtime to get its mobile payment services up and running nationwide in India. Warby Parker Sees Hack ers.

Online and Mobile Banking 55

Online and Mobile Banking Mobile Payments Law Enforcement Push-to-Card 55

PYMNTS

MARCH 6, 2020

1, 2019, there was no shortage of predictions about which stories would drive payments, commerce and the global financial ecosystem. But as it turns out, 2019-2020 will go down in the record books as one of those years where everyone got it wrong — because a black swan showed up. Costs And Benefits.

Online and Mobile Banking 60

Online and Mobile Banking Disputes Economy Push-to-Card 60

FICO

JULY 28, 2021

increase in dollar value over 2019. Additionally, ACH internet transactions rose 15% from 2019 to 2020. These scams are typically Authorized Push Payment (APP) schemes in which the transaction is executed by the customer directly, often via—wait for it—ACH payments. increase in volume and a 10.8% Source: NACHA.

NACHA 52

NACHA ACH Scams Account Validation 52

CB Insights

NOVEMBER 5, 2019

In May 2019, Barclays released a note estimating the value of Tencent’s fintech business at $123B, or close to a third of the company’s total market cap. In Q2’19, Tencent’s fintech and business services category grew 37% YoY in contrast to 16% growth in online advertising revenue, down from 25% in Q1’19.

FinTech 51

FinTech Small Business Online and Mobile Banking Push-to-Card 51

FICO

JANUARY 10, 2023

In a year that saw the word "scamdemic" coined, scams such as authorised push payment fraud were top of mind, along with various other fraud schemes. Tue, 07/02/2019 - 02:45. They were able to identify attempts to uncover CVVs on the cards they had issued and could therefore have those cards blocked and reissued.

Scams 52

Scams Posting Push-to-Card Compromise 52

PYMNTS

NOVEMBER 19, 2019

Once upon a (very recent) time, if customers needed financial services of any kind, they went to their bank. From investing to storing funds to making payments, the bank offered the total financial services bundle. Then the online lenders rose up and said they could do lending better and faster than the banks.

Instant Payments 43

Instant Payments Online and Mobile Banking Remote Deposit Capture Push-to-Card 43

FICO

NOVEMBER 7, 2022

Fighting Scams and Authorized Push Payment Fraud in the US. US regulators seem poised to update the status quo for bank liability for authorized user/authorized push payment fraud, but just how big is the potential? Tue, 07/02/2019 - 02:45. FICO Admin. by TJ Horan. expand_less Back To Top. Mon, 11/07/2022 - 09:50.

Scams 52

Scams Authorization P2P Zelle 52

PYMNTS

MAY 29, 2020

Amazon made a big push into the automotive world, while Walmart doubled down on secondhand clothing sales. billion,” Asad Hussain , a mobility tech analyst at PitchBook, wrote in a research note. And in 2019, the company participated in a $530 million funding round for autonomous tech firm Aurora Innovation. We believe $1.1

Online and Mobile Banking 52

Online and Mobile Banking Push-to-Card Direct Deposit Debit Card 52

PYMNTS

DECEMBER 26, 2018

Here’s a sure bet for 2019: not only will you hear much more about the spread of “contextual commerce,” but you will see more of it and may even experience a good deal of it yourself. No, think of them as miniature seminars. These podcasts focus on innovation, best practices, learning from past failures and the like.

Cross-Border 62

Cross-Border Real Time Payments RTP Online and Mobile Banking 62

PYMNTS

JULY 15, 2019

This push for regulations hasn’t come without controversy. Digital banking changed all that, and now consumers expect the onboarding process to be near-instant and with minimal friction. Coinbase had more customers signing up during the height of the crypto bubble in 2017 than Bank of America signed up in a year.

Cryptocurrency 51

Cryptocurrency Regulations AML Law Enforcement 51

PYMNTS

APRIL 8, 2019

Gig workers, for example, will likely soon see an upgrade to their payments speed, thanks to a bit of help from their card network friends. Card Payouts is a card-based, front end user experience that integrates with treasury banks’ existing infrastructure. The pilot program is slated to debut in the fall of 2019.

Contactless Payments 40

Contactless Payments Push-to-Card Debit Card Payments 40

PYMNTS

APRIL 16, 2020

Business buyers are seeking extended payment deadlines from their vendors, retailers are requesting that consumers avoid paying with cash, which can transfer bacteria and viruses, and consumers are increasingly shopping online to avoid crowded stores. percent of SMB owners expect their companies to fail because of the pandemic.

On-Demand 52

On-Demand Online and Mobile Banking B2B Push-to-Card 52

PYMNTS

DECEMBER 20, 2019

The biggest example of that is bank fees. You can connect your bank accounts, and [the app] will look at all of the overdraft fees so you can get the money back.”. This process is the same for banks. We like to call it a robot lawyer,” Browder said. Fraud, Security Issues Cause Firms To Cling To Checks.

Legal 52

Legal Checks Settlement ACH 52