PYMNTS

JULY 14, 2020

Big banks kicked off the second-quarter earnings season Tuesday (July 14) by reporting COVID-weakened consumer banking revenues, but bright spots in trading and digital. Citigroup reported global consumer-banking revenues of $7.3 The bank reported an approximately $10.5 The bank reported reserve builds of $8.9

Consumer 63

Consumer Online and Mobile Banking Credit Cards Volume 63

PYMNTS

JULY 17, 2019

Zelle P2P payments increased 79 percent year-over-year (YoY) in the second quarter of 2019, Bank of America said Wednesday (July 17), signaling the latest burst of growth for that payment method. In its Q2 2019 financial release , Bank of America also gave updates on its mobile and digital efforts.

Zelle 47

Zelle Online and Mobile Banking Debit Card Payments 47

PYMNTS

SEPTEMBER 22, 2020

Consumers moved to digital banking in droves during the early months of the COVID-19 pandemic — it appears they are not moving back. Consumers pivoting to online banking are also more concerned over the privacy and security of their data, especially as fraud volumes creep up —and financial regulators are taking notice.

Compliance 76

Compliance Online and Mobile Banking Privacy SWIFT 76

PYMNTS

JANUARY 17, 2020

BNPL solution provider Afterpay and its competitors are becoming more popular for numerous reasons, as many related services do not charge interest, and can be used for both online and offline purchases. Global retailers’ average mobile cart abandonment rate is approximately 86 percent, according to some studies.

BNPL 52

BNPL Online and Mobile Banking Addressing Consumer 52

PYMNTS

OCTOBER 1, 2020

More than 40 percent of United States businesses received at least some of their invoices in 2019 via a form of communication that many younger generations may have trouble identifying, let alone using: fax. The Commonwealth Bank of Australia has launched a service that seeks to bring these unique types of disbursements into the digital age.

Online and Mobile Banking 67

Online and Mobile Banking Payments Small Business Volume 67

PYMNTS

NOVEMBER 4, 2019

From counterfeiting to identity theft to phishing attacks, digital fraud takes many forms — and online shopping continues to make consumers and merchants vulnerable to such attacks. The rise of mobile commerce and selling of digital goods has added to retailers’ fraud problems. By its measures, merchants pay $3.13 last year, a 6.5

Online and Mobile Banking 49

Online and Mobile Banking Cross-Border Federal Trade Commission Fraud Prevention 49

PYMNTS

SEPTEMBER 24, 2020

Most banks are familiar with how quickly regulatory requirements can change. One 2019 report noted that there were 220 updates to such requirements worldwide each day, equating to roughly 80,000 in one year. GDPR has been a blueprint for many online data and privacy regulations rolled out around the world.

Compliance 60

Compliance Online and Mobile Banking CCPA Rules 60

PYMNTS

SEPTEMBER 22, 2020

One recent study estimated that roughly 44 million Americans would tap food delivery apps by the end of this year, up from 38 million in 2019, and another survey predicted that the number of smartphone delivery app users will climb 25.2 percent to 45.6 million this year. That total is predicted to decline to 44.1 million in 2023.

Online and Mobile Banking 102

Online and Mobile Banking Fraud Detection Mitigation Verification 102

PYMNTS

OCTOBER 9, 2020

Digital-first banks, insurance firms and merchants are tasked with protecting against the schemes to keep their customers’ data secure. It also explores what tools or technologies banks, merchants or other entities could use to enhance their email verification and general onboarding process as the volume of fraud attempts continues to grow.

Verification 83

Verification Consumer Online and Mobile Banking Scams 83

PYMNTS

APRIL 15, 2020

Echoing some activity at another big bank that reported Tuesday — JPMorgan — Wells said that payments were being deferred across auto loans and mortgages. Overall non-performing assets were up 13 percent from the fourth quarter of 2019, tied to the pandemic, and stood at $6.4 Overall credit card loans were down by $2.4

Point-of-Sale (POS) 60

Point-of-Sale (POS) Debit Card Online and Mobile Banking Credit Cards 60

PYMNTS

APRIL 15, 2020

Customers of Microsoft can access digital purchase receipts through Canadian tech services firm Ethoca , a subsidiary of Mastercard , and its partnerships with a growing matrix of banks. Ethoca’s Digital Receipts service offers transparency about online purchases to make it easier for people to keep track of what they buy.

Online and Mobile Banking 67

Online and Mobile Banking Card Issuer Disputes Visa 67

PYMNTS

DECEMBER 31, 2020

Key Data Points: Consumers are performing 12 percent more activities at home in 2020 than they did in 2019 and making purchases during 12 percent of those activities, on average. percent made purchases via mobile in the last 24 hours. 31 percent bank via app. percent of consumers who did so in 2019 — an increase of 27.4

Innovation 111

Innovation Online and Mobile Banking Real Time Payments Cross-Border 111

Fintech News

FEBRUARY 20, 2024

In 2022, the country was home to 993 active fintech companies, representing about 25% of all fintech ventures operating across the ASEAN region, data from a 2022 report by the United Overseas Bank (UOB), PwC Singapore and the Singapore Fintech Association (SFA) reveal. billion to US$15 billion during the period. in July 2023.

FinTech 99

FinTech Payment APIs and Integration Online and Mobile Banking Security 99

PYMNTS

JANUARY 9, 2020

Paying tuition used to be a difficult process, and involved exchanging yuan to South Korean won at a bank and then paying the university, noted the report. Although mobile payments are very common in China, simple cross-border transactions are not. In 2018, it had a daily transaction volume of over one billion.

Cross-Border 52

Cross-Border Online and Mobile Banking Card Issuer Mobile Payments 52

PYMNTS

FEBRUARY 1, 2019

The fourth quarter of 2018 was kind to Venmo and Zelle , the two big peer-to-peer (P2P) services that are battling for consumer loyalty and market supremacy — a fight that pits PayPal , the owner of Venmo, against the banks that operate Zelle. For the full year 2018, total P2P volume increased 49 percent to about $149 billion.

Venmo 71

Venmo P2P Zelle PayPal 71

Stax

NOVEMBER 13, 2023

Google was the first, in 2011, to enable contactless payments via their mobile app. In 2015, many merchants switched to NFC-enabled terminals; by 2019, most banks were issuing contactless cards. Visa, Mastercard, and the customer’s bank) for authorization. Contactless cards All cards today can come contactless.

Contactless Payments 88

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

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

CB Insights

OCTOBER 26, 2020

In 2006, investment banks were at the top of the finance world. After the collapse of Lehman and Bear Stearns and the global financial crisis that ensued, the business models of the world’s biggest investment banks needed to change. As a result, banks are facing dropping IPO profits. Some banks have collapsed.

Underwriting 78

Underwriting Research Online and Mobile Banking Non-Bank 78

PYMNTS

MAY 13, 2019

The spotlight burned brighter for peer-to-peer (P2P) payment services in the first quarter of 2019, with those payment methods finding popularity among more consumers. During Q1 2019, Zelle sent $39 billion through its network via 147 million transactions, the company said in a news release. P2P Impacts.

P2P 79

P2P Zelle Venmo Debit Card 79

PYMNTS

JANUARY 26, 2018

Methods like a one-time password sent by text message (SMS), for example, can cause many consumers to abandon their online shopping carts. 23) that its issuers must offer biometric identification to its account holders by April 2019. Many banks already provide biometric authentication for their online banking apps,” Sass said.

Authentication 66

Authentication Visa Regulations Online and Mobile Banking 66

PYMNTS

JULY 1, 2020

SMBs around the globe are dealing with an unprecedented surge in online payment volumes as consumers eschew in-store payments for eCommerce transactions that lack the risks of in-person contact. require additional authentication when contactless or online transactions hit certain payment limits, for example.

Regulations 64

Regulations Digital Payments Contactless Payments Online and Mobile Banking 64

Fintech Labs Insights

JUNE 29, 2023

Companies with a significant volume of credit/debit card payments rely heavily on payment processors to keep them afloat. The score is based on VC funding, website traffic, mobile downloads, and the number of employees. Related: Top 18 Digital & Online Insurance Providers for Small Businesses (SMB): June 2023 Top 9 U.S.

Small Business 15

Small Business Processors Digital Payments Online and Mobile Banking 15

FICO

JANUARY 22, 2021

In this blog post I’ll do some quick level-setting with 2019 card fraud numbers, touch on what that looked like for 2020, and then share a round-up of several of the latest credit card fraud trends. The graphs below show the top fraud types reported to the FTC in 2019 and corresponding dollar loss amounts. . Fraud Numbers Vary Widely.

Credit Cards 52

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

PYMNTS

NOVEMBER 2, 2020

Taken as a group, the platform companies show that consumers are increasingly comfortable coming online to get what they need, that ad targeting is working, and that the companies that are pivoting online to reach consumers where they are — namely, on mobile devices and tablets — are embracing new ways to monetize that contact.

Online and Mobile Banking 84

Online and Mobile Banking Cross-Border Visa Volume 84

Stax

MARCH 14, 2024

Online and contactless adoption multiplied, and digital payments rose. Between 2019 and 2020, the number of U.S. Consumers are increasingly gravitating towards quick and convenient payment methods such as contactless payments and mobile wallets when transacting with businesses. What are the Most Common B2B Payment Methods?

B2B 88

B2B Process B2C Credit Cards 88

Fintech Labs Insights

AUGUST 22, 2024

QuickFi : Reported a 45% increase in loan volume. Tuum: Raised $48M for its modular banking technology, gaining traction with banks and financial institutions across Europe. Mahalo Banking: Raised $21M for its banking software; successfully launched new features, experiencing strong growth in client base.

Online and Mobile Banking 15

Online and Mobile Banking Acquirers Payment APIs and Integration AI 15

PYMNTS

JANUARY 23, 2020

Payments made with cash and checks are dropping in volume — the use of cash alone declined 40 percent over the past five years in Canada. More than 42 percent of consumers received at least one instant payment in 2019, but such disbursements have a way to go before they are as common as many would like.

Instant Payments 56

Instant Payments Real Time Payments Online and Mobile Banking Payments 56

PYMNTS

APRIL 30, 2018

Lakala is China’s only non-bank institution, which Circle International said offers online, offline, personal and corporate services and had a trading volume of 1 trillion renminbi. Circle International ’s self-developed Business Circle mobile application has a tremendous following in China and other Chinese-speaking markets.

Cross-Border Payments 46

Cross-Border Payments Cross-Border Payment Gateways Online and Mobile Banking 46

PYMNTS

JUNE 7, 2019

Mobile point-of-sale (mPOS) solutions have enjoyed widespread uptake in much of North America, and the region’s related market could see continued growth if solutions providers, government officials and other stakeholders play their cards right. percent of total payments by volume in 2017 and debit responsible for 26.5 percent and 21.5

Online and Mobile Banking 51

Online and Mobile Banking Governance Government Digital Payments 51

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. One reason more users have been able to be reimbursed is due to the Contingent Reimbursement Model (CRM) Code launched in 2019.

Scams 59

Scams Finance Push-to-Card Romance Scams 59

CB Insights

DECEMBER 4, 2019

If Amazon can get you lower-debt payments or give you a bank account, you’ll buy more stuff on Amazon.”. Based on our findings, it’s hard to claim that Amazon is building the next-generation bank. In aggregate, these product development and investment decisions reveal that Amazon isn’t building a traditional bank that serves everyone.

Online and Mobile Banking 101

Online and Mobile Banking Push-to-Card Payment APIs and Integration Non-Bank 101

PYMNTS

AUGUST 24, 2020

Online classes are also gaining the attention of workers who have been laid off during the economic downturn and want to refresh their skills or build new ones and attracting employees who may be seeking to polish their know-how while working from home. . Mobile money service M-Pesa is used by 24.5

International Payments 60

International Payments Cross-Border Online and Mobile Banking Cross-Border Payments 60

PYMNTS

JULY 29, 2019

This means providing solutions that enhance the banking experience regardless of which channel members use to interact with the CU. The new service, Flex Loan, is being offered by SkyPoint Federal Credit Union and was established through a partnership with cloud-based mobile lending platform QCash Financial.

Credit Union 69

Credit Union AI Online and Mobile Banking Near Real-Time 69

PYMNTS

JANUARY 31, 2020

Bank Is Doing to Drive Virtual Card Adoption. Bank , however, believes it has the perfect weapon to counter such reluctance: vendor and client input. BMO on Taking a Digital-First Approach to Retail Banking. The social media platform released its fourth-quarter earnings and full-year 2019 financials on Jan.

Technology 52

Technology SARS Online and Mobile Banking Contactless Payments 52

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. The disruption, Prideaux noted, is real and profound.

Online and Mobile Banking 60

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

PYMNTS

OCTOBER 16, 2019

Recent scandals involving Deutsche Bank and Swedbank have made consumers reconsider their trust in financial institutions, many of which are scrambling to keep fraudsters out and bring customers back. Mobile, online and phone channels all have distinct fraud challenges and customer needs. The Cost of Compliance.

AML 49

AML Compliance Money Laundering Financial Crimes 49

PYMNTS

APRIL 30, 2020

The international eCommerce market grew to $412 billion by the end of 2019 — a 4 percent improvement over the previous year. Buyers used local payment methods for 77 percent of worldwide eCommerce in 2019, and that figure is projected to reach 82 percent by 2024. Cards can be critical to serving the U.K.

Cross-Border 52

Cross-Border Credit Cards Payments Online and Mobile Banking 52