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2020 Economy Online and Mobile Banking 
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. The year-over-year increase in cross-border online sales was even more dramatic in other regions.
103 
Fintech News
MARCH 6, 2024
Are digital first banks in Asia poised to lead a disruptive charge against well-entrenched, established commercial banks? In the traditional banking sphere globally, but especially true in Asia, there is a considerable proportion of unbanked and underbanked populations who lack complete or any access to banking services.
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 made purchases via mobile in the last 24 hours.
111 
The Fintech Times
NOVEMBER 9, 2024
In the last five years, Sri Lanka’s economy has struggled greatly. Not all doom and gloom: fintech is on the horizon Despite the outbreak of the pandemic, in 2020 the Central Bank of Sri Lanka (CBSL) launched its regulatory sandbox in an effort to boost its fintech sector and innovation.
96 
PYMNTS
JULY 26, 2020
of India (NPCI) that facilitates inter-bank transactions, has propelled the growth of online payments, the Financial Times (FT) reported. UPI was established by the central bank and is owned by a group of local lenders. billion, bringing bank accounts to hundreds of millions of residents for the first time.
123 
PYMNTS
OCTOBER 21, 2020
The ownership economy is going full throttle. Lest you think the change has been all about streaming media, about home delivery of meals and meal kits, of staying in … AutoNation’s results herald a pivot toward an age of personal mobility. The Individual Mobility Shift . They want a place to go to complete the transaction.”.
89 
Fintech News
MAY 28, 2024
The meteoric ascent of Brazilian neobank Nubank has sent shockwaves through the Latin American banking industry. As digital banks in the Asia Pacific (APAC) region aim to replicate this success, there are valuable lessons to be learned from the unconventional Nubank approach to banking.
128 
PYMNTS
FEBRUARY 24, 2020
And today, 384 years later, innovators are still using time to disrupt the status quo across each of the eight cornerstones of our connected economy. Consumers increasingly use mobile phones and other connected devices and apps to make the most of the daily activities that fill those 24 hours. Yet everything has changed.
83 
The Fintech Times
AUGUST 19, 2024
Over the past 75 years, South Korea’s economy has boomed, undergoing rapid industrialisation with a growth rate of seven per cent annually, according to the International Monetary Fund. Having earned its spot as one of the Four Asian Tigers, we explore what is propelling South Korea’s economy and fintech ecosystem.
64 
PYMNTS
JULY 3, 2020
But she added that merchants are coming back online with business models that are somewhat different than what came before. They may want to order online and pick up curbside. SMBs can accommodate that with a host of methods: mobile wallets, contactless cards, QR codes, paying in-store via a mobile app, etc.
98 
Fintech News
MAY 23, 2024
Confronted by shifting factors such as tech advancements, generative AI, high interest rates, increased institutional oversight, and evolving customer expectations — the best banks must adapt their business and operating models in 2024, including in Asia. CHINA #1 China Merchants Bank China Merchants Bank Co.,
PYMNTS
JULY 21, 2020
economy hard, but few areas were hit harder than small businesses. In spite of their small size, they play a critical role in both their local and national economies. economy when everything is really clicking — which it hasn’t been for the last several months,” he said. “On COVID-19 has hit the U.S. The Bumpy Road Ahead.
83 
PYMNTS
APRIL 29, 2020
The COVID-19 pandemic has prompted traditional banks to take fresh looks at their digital initiatives and has given digital-only banks the opportunity to learn about the advantages and hurdles of serving customers primarily through online and mobile channels. Building Trust Between Banks and Consumers Online.
105 
CB Insights
FEBRUARY 13, 2020
As businesses and consumers become more comfortable using credit cards online, the proportion of US commerce that takes place online has steadily increased over the last 20 years. Specifically, the Collisons aimed to more seamlessly connect online businesses and payment processors, allowing more businesses to accept online payments.
CB Insights
JANUARY 5, 2021
In the past few years, the burgeoning popularity of digital banks has only underscored the severity of these problems, with upstarts like Chime and SoFi offering cheaper, faster, and more convenient banking experiences. . get the state of challenger banks report. First name. First name. Company Name. Phone number. Source: PwC.
Clearly Payments
OCTOBER 7, 2024
The COVID-19 pandemic has reshaped industries and economies worldwide. in 2020, reaching $4.28 Cash Usage Decline : The World Bank reported that cash usage in advanced economies declined by nearly 50% during the pandemic, with consumers opting for digital and contactless payment methods instead. billion in 2019.
93 
PYMNTS
NOVEMBER 20, 2020
Physical banking was already on the decline before the COVID-19 pandemic put much of the physical economy into the deep freeze for a year and left customers scrambling to digitize their day-to-day lives as much as possible and as fast as possible. Officially the regulatory powers that govern banking aren’t on board with this switch.
PYMNTS
MAY 7, 2020
The prospect of restarting the economy of bringing all manner of everyday life in the U.S. back to some semblance of “normal” has challenges — and opportunities for banks, especially community banks and credit unions. Call it a way to be physical even while being virtual. Reinventing The ATM.
122 
PYMNTS
DECEMBER 15, 2020
Scott noted that fewer credit union mergers happened in 2020, largely due to the pandemic. But he said the pandemic is “a catalyst for accelerating digital offerings” — and for transforming the very nature of in-person banking, even though boosting brick-and-mortar efforts might seem counterintuitive in the pandemic’s wake.
74 
PYMNTS
FEBRUARY 13, 2020
To bring digital transformation to banks, and to help them bring their assets to the “digital-first” consumer, look to the platform. That’s a challenge, as banks have traditionally plied their trade through face-to-face interactions. It’s really about extending out the capability of your card to the commerce ecosystem,” he said.
PYMNTS
JULY 2, 2020
The government ban happened when Lagos, the government hub of Africa’s largest economy, banned motorbike passenger service in January, according to director of marketing Osagie Alonge , Bloomberg reported. OPay was formed a year earlier than that, in 2018, as a way for mobile customers to send and receive money.
PYMNTS
JUNE 17, 2020
The COVID-19 pandemic has bolstered mobile payments in India and primed them to overtake card payments in the not-too-distant, S&P Global Market Intelligence said this week in its 2020 India Mobile Payments Market Report. But S&P found that there’s an awful lot of ground left for mobile payments to capture.
PYMNTS
JUNE 17, 2020
The COVID-19 pandemic has bolstered mobile payments in India and primed them to overtake card payments in the not-too-distant, S&P Global Market Intelligence said this week in its 2020 India Mobile Payments Market Report. But S&P found that there’s an awful lot of ground left for mobile payments to capture.
The Fintech Times
MARCH 1, 2024
Payments giant Mastercard has launched its new ‘Open Banking for Account Opening’ programme for select US debit and prepaid products, hoping to streamline and secure account opening. In a recent study, Insider Intelligence found that Gen Z mobile banking adoption continues to rise by 12.4 million in 2020 to 47.8
64 
PYMNTS
DECEMBER 11, 2019
Since the rise of M-Pesa in 2007, mobile money wallets have become prevalent across Africa. And while that addition to the market has made many things possible for consumers in formerly cash-locked economies, there has been a persistent problem of limitations for users once they want to transact outside their home environment.
57 
PYMNTS
JULY 17, 2020
Mobile card apps went from nifty to necessary when the darkest imaginings of last March had people picturing COVID-19 on every surface, suspended in every breath. PYMNTS’ July 2020 Building a Better App Playbook , done in collaboration with Ondot , focuses on the rise of credit and debit usage amid the pandemic’s backdrop. percent.
PYMNTS
DECEMBER 26, 2019
Shorten the timeframe a bit, and it gets (just a bit) easier to see what may be rushing toward us – or what we may be rushing toward — in terms of innovation in-store, online and across all manner of channels. In fact, a time capsule sealed today, with a prediction of what Dec.
PYMNTS
MARCH 2, 2020
Global supply chains are impacted, as millions of workers living in the provinces of developing and emerging economies like China, Vietnam, South Korea and Malaysia are unable to work at the manufacturing facilities due to quarantine, illness or both. Why We Need A Connected, Digital Economy — Now More Than Ever. We see it everywhere.
112 
Clearly Payments
NOVEMBER 6, 2024
This market includes a range of services and technologies that facilitate the acceptance, authorization, and settlement of payments across various channels, including online, in-store, and mobile. They require secure systems like point-of-sale (POS) terminals , online checkout gateways, or mobile payment solutions to process payments.
99 
Clearly Payments
AUGUST 24, 2024
Summary of Statistics in this Article In the United States, contactless payments accounted for 34% of all debit card transactions in 2023, a significant increase from 19% in 2020. According to Visa, tokenized transactions accounted for 85% of all mobile debit transactions in North America in 2023.
87 
PYMNTS
JANUARY 20, 2021
The ongoing pandemic has pushed more consumers online to carry out their shopping and banking, with fraudsters following suit. Bad actors have moved to take advantage of the rush to digital payments — particularly those made with debit cards — leaving banks and financial institutions (FIs) racing to keep them off their platforms.
PYMNTS
JULY 23, 2020
Open banking has been picking up steam in Latin America for more than two years. Brazilian lawmakers have been developing open banking plans since 2019, for example, outlining rough guidelines to be enacted late this year. It also analyzes how the pandemic is affecting the future of open banking in. the region.
Fintech Finance
FEBRUARY 28, 2024
Today Mastercard announced the Open Banking for Account Opening program, providing a foundational set of open banking products as a core benefit to Mastercard consumer and small business debit issuers as well as consumer prepaid issuers in the U.S. million in 2020 to hit 47.8 year over year, from 20.7 million by 2026.
59 
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.
78 
PYMNTS
OCTOBER 21, 2020
The PYMNTS/Visa How We Will Pay Study; 2020 Edition tells us that home is no longer merely where the heart is. Habits are hard things to change, but 2020 has been a year that has seen consumers unusually receptive to not only experimenting with new ways to transact, but to actually modifying the day-in, day-out details of how they live.
60 
PYMNTS
NOVEMBER 13, 2020
QR codes had made some inroads here and there, and yet did not become the go-to repositories of data and information – scannable, naturally, across mobile devices – that some had predicted. The QR code is shorthand for the “quick response” barcode that was first designed in 1994, and which initially surfaced in Japan.
PYMNTS
MAY 11, 2020
To understand when and how consumer demand will return and the impact it will have on federal and state efforts to reopen the economy, we need consistently refreshed data from a large national sample to get out of the quarantine “information bubbles” and see the big picture. Inflection Points And Jump Discontinuities . Source: U.S.
76 
Fintech Finance
FEBRUARY 29, 2024
Mastercard and MTN Group Fintech have signed a multi-market agreement that will set in motion a new era of collaboration to connect millions of people and small businesses across Africa with digital tools to transact through secure mobile payments, expanding access to the benefits of the cashless digital economy.
52 
PYMNTS
OCTOBER 14, 2019
Removing that friction with experiences that enable customers to avoid age-old annoyances and homeowners to make extra income is intriguing to members of the sharing economy, according to Tim Wootton, CEO of shared parking marketplace Rover Parking. Keeping pace with parking payments and innovation.
48 
The Fintech Times
SEPTEMBER 22, 2024
Cambodia is leveraging fintech innovations and strategic reforms to boost economic growth, financial inclusion and international partnerships, positioning itself as a key player in the Southeast Asian digital economy. Cambodia’s economy is projected to grow by 5.8 Cambodia has also ventured into central bank digital currencies (CBDCs).
Fintech News
NOVEMBER 5, 2024
De Abreu highlighted these prospects in a recent interview with Fintech News Singapore, emphasizing the growing importance of emerging markets, including LatAm and Africa, for the global gaming industry, fueled by rising smartphone penetration, increasing digital payments and the booming popularity of mobile gaming.
108 
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. 23-25, 2020. Take PayPal, for example. percent of all retail sales.
91 
PYMNTS
JANUARY 3, 2020
In late June, the Monetary Authority of Singapore (MAS) sent a ripple through the global financial services ecosystem with the announcement of its intention to issue five digital bank licenses to eligible applicants. Oversea-Chinese Banking Corp. and United Overseas Bank Ltd. billion ($1.1 Grab + Singtel .
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.
101
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