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Banks On Notice: Fintechs Are Coming For Checking Accounts & Debit Cards

CB Insights

One of the biggest trends in fintech today is the rise of digital banking products like mobile checking accounts and new debit cards. From Square to Paypal, a host of fintechs are creating products that let consumers spend money directly out of digital accounts using a physical card. get the 86-page fintech report.

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Square Chip Readers Get Speed Boost

PYMNTS

As card swipes turned to chip insertions across the U.S., Recently, to combat long lines and payments fatigue, financial, merchant service and mobile payment company Square rolled out a firmware update to its chip payment terminals. Contactless credit cards and mobile wallet use have seen a slow rate of adoption in the U.S.,

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A Study on Contactless Payments by Country

Clearly Payments

Instead of entering a PIN or handling cash, users can simply tap their card or mobile device to complete a transaction in seconds. Contactless payments are a quick and secure way to make transactions without physically swiping a card or entering a PIN. Contactless payments market has been growing quickly.

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Tap to Pay: What It Is and How It Works

Stax

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.

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‘One can’t just live in the deposit and debit space, Gen Z will need access to credit at some point in their lives’: Mastercard’s Bunita Sawhney on Gen Z’s debit-to-credit transition

Tearsheet

Join Scott Goodson, CEO, StrawberryFrog, Chip Walker, Head of Strategy at StrawberryFrog, and Zack Miller, Tearsheet’s editor as they dive into the dynamic world of financial marketing and transformation. In contrast, only 39% of Gen Zers frequently use credit cards, compared to 51% among older generations. Go to tearsheet.co/strawberryfrog

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Visa Interchange Rates 2024: What You Need to Know

Stax

If your company accepts credit card payments ( which it should ), chances are, you’re going to be affected by Visa’s interchange rates. cards currently in use. So it’s virtually impossible for a business to not accept Visa cards. TL;DR Interchange rates are the fees charged by credit card networks.

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Radius Bank: Virtual Debit, Mobile Tools Help Banks Fight Debit Fraud

PYMNTS

Studies showed that many consumers in the United States have begun tapping their debit cards more often for payments, for example, with one report finding that debit use rose about 6 percent year over year. Around The Next-Gen Debit World. Another study indicated that debit-related fraud is on the rise across the U.S.