PYMNTS

JULY 16, 2020

Bank of America reported Thursday (July 16) that that the number of customers using the firm’s mobile and digital platforms grew during the second quarter even as the pandemic raged. However, the bank nonetheless built up an extra $4 billion in reserves during the period to cover any future credit losses. consumer cards vs. $93.6

Online and Mobile Banking 57

Online and Mobile Banking Zelle Debit Card Mobile Banking 57

Clearly Payments

AUGUST 24, 2024

According to Visa, tokenized transactions accounted for 85% of all mobile debit transactions in North America in 2023. By 2023, it was estimated that 67% of global consumers had used a digital wallet, with debit cards being the most commonly linked payment method. Over 15,000 businesses worldwide accept Bitcoin payments as of 2024.

Debit Card 82

Debit Card P2P Cross-Border Central Bank 82

PYMNTS

APRIL 13, 2020

and international) consumer and the businesses that serve them will be center stage as earnings season gets underway, starting, as always, with a slew of big banks. The last time we had earnings season, stretching from mid-January into the end of February, banks pointed to the continued strength of the U.S. billion using Zelle.

Online and Mobile Banking 124

Online and Mobile Banking Credit Cards Zelle P2P 124

PYMNTS

JULY 9, 2018

Consumers can be an impatient bunch, and that becomes pretty clear when the conversation turns to insurance checks and other corporate disbursements. But what would happen if faster disbursements were combined with a (peer-to-peer) P2P service that is striving for more bank partners and customers?

Zelle 43

Zelle P2P Debit Card Online and Mobile Banking 43

PYMNTS

JANUARY 13, 2020

consumer and the sea changes tied to commerce, eCommerce, lending and credit. For those watching the payments sphere, the tea leaves are there for the reading, tied to mobile and digital banking adoption, to outstanding balances on cards, and to auto loans and mortgages. Going Mobile. Tuesday (Jan. Looking at Credit.

Consumer 52

Consumer Online and Mobile Banking Zelle P2P 52

PYMNTS

JANUARY 20, 2020

There are a few common themes among big bank earnings reports. consumer is strong, and the ripple effects of strong U.S. consumer spending is carrying over to other areas where banks get their bread and butter. And, increasingly, digital conduits are gaining a share of consumer and commercial spending. In the U.S.,

Consumer 53

Consumer Online and Mobile Banking Debit Card Credit Cards 53

PYMNTS

SEPTEMBER 1, 2020

Wells Fargo is launching a new, low-cost bank account — with access as well to a new digital payments service — in its latest move to push beyond a series of scandals. bank account, the bank noted in its announcement. The bank said it will also waive the $5 fee for younger account holders ages 13 to 24.

Digital Payments 93

Digital Payments Accounts Zelle Online and Mobile Banking 93

PYMNTS

JANUARY 15, 2020

Zelle peer-to-peer (P2P) payments increased 76 percent year-over-year in the fourth quarter of 2019, Bank of America said on Wednesday (Jan. During the quarter, consumers made 95 million payments worth $23.8 billion using Zelle. As it stands, Bank of America now has 38.3 million active mobile banking users.

Zelle 52

Zelle Online and Mobile Banking Debit Card P2P 52

FICO

DECEMBER 4, 2017

Not a mobile payment, Venmo or Zelle, PayPal or Cashbot was in sight. Seeing the flutter of sawbucks gave me a flashback to one of my first payments memories, from the early 1980s, when the Connecticut Bank and Trust Co. Mobile Payments Proliferate. Mobile Payments Are Tied to DDA and Savings Accounts.

Mobile Payments 64

Mobile Payments Zelle Online and Mobile Banking ATM 64

PYMNTS

FEBRUARY 27, 2017

Walmart showed some early results to goose the gas on eCommerce, which is starting to help the company gain some ground back on Amazon; Zelle is now open for business and coming for Venmo; and Alibaba made its latest big brick-and-mortar play. Zelle Is Officially Out There. Walmart’s Winning Results. We’re the second-largest U.S.

Zelle 40

Zelle Venmo Online and Mobile Banking P2P 40

PYMNTS

OCTOBER 16, 2020

It was a busy week for commerce and payments, as consumers are harnessing connected devices for digital-first shopping and firms are looking to harness tools to speed up business-to-business (B2B) disbursements and payments. Consumers’ digital shift means that customer expectations for their card issuers are higher than in the past.

Instant Payments 95

Instant Payments Card Issuer Online and Mobile Banking Federal Reserve 95

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

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. The numbers tell a story of ongoing growth and more consumer acceptance.

Venmo 71

Venmo P2P Zelle PayPal 71

Clearly Payments

DECEMBER 18, 2023

These key trends are set to redefine how consumers and businesses engage with payments, introducing innovation and unparalleled convenience. The Continued Surge of Contactless Payments Contactless payments , facilitated by tap-to-pay cards, mobile wallets , and wearable devices, are set to maintain their upward trajectory.

Payments Trends 71

Payments Trends Online and Mobile Banking Payment APIs and Integration Contactless Payments 71

PYMNTS

JANUARY 18, 2019

Bank earnings this week gave us a bit of insight into the momentum gained by bank-backed P2P payment network Zelle in 2018. For example, Bank of America reported on Wednesday (Jan. 16) that Zelle payments were up 97 percent in Q4 2018, signaling the latest burst of growth for that payment method.

Zelle 63

Zelle P2P Online and Mobile Banking Venmo 63

PYMNTS

MARCH 10, 2020

The conversation came against a backdrop where, at the end of February, Fiserv said that nearly 600 banks and credit unions (CUs) have joined the turnkey service from Zelle to enable person-to-person (P2P) payment capabilities, and that the number of participants accessing the network via Fiserv has increased ten-fold in 2019 from 2018.

P2P 92

P2P Real Time Payments Zelle Credit Union 92

FICO

AUGUST 26, 2021

“Do you Zelle?” It’s a question FICO’s fraud head honcho, TJ Horan, pondered back in 2016 , when the nascent real-time person-to-person (P2P) payments service Zelle was relaunched by a small consortium of banks (see below). The second most popular app, Venmo, was used by 14% of consumers in 2020. Request for pay (RfP) .

Real Time Payments 52

Real Time Payments Zelle Federal Reserve FedNow 52

PYMNTS

JANUARY 30, 2019

Bank of America is giving free trades to its most loyal members, according to a report by Bloomberg. The bank will expand the eligibility for free trades on stocks and exchange-traded funds to the upwards of 5.25 million customers enrolled in the bank’s preferred rewards program. In all, Bank of America now has 36.3

Zelle 56

Zelle Online and Mobile Banking P2P Enrollments 56

The Fintech Times

JULY 22, 2024

We set out to find out… Partnering with fintechs Michael Zetser, CEO, of Flyfish For Michael Zetser , CEO, of Flyfish , the global digital banking marketplace, the answer many incumbents are looking for lies with their perceived threats: fintechs. So what are incumbents doing to become more accessible?

Adjustments 94

Adjustments Online and Mobile Banking Financial Inclusion FinTech 94

PYMNTS

DECEMBER 20, 2018

Fortunately, consumers don’t need to wait nearly as long as they used to for a variety of transactions or business processes to be completed. Rather than dealing with a valet, consumers can request an Uber or Lyft. billion consumer accounts, including credit or debit cards, online wallets and cash-out distribution points.

Instant Payments 57

Instant Payments Consumer Real Time Payments Interoperability 57

PYMNTS

JANUARY 1, 2021

Many consumers were still facing pandemic-related financial strains going in to the holidays, making flexible payment options all the more important as they began buying gifts. Digital-First Banking. This loss can be crippling for consumers who live paycheck to paycheck or have little savings. Disbursements.

Economy 103

Economy Online and Mobile Banking Credit Union Money Laundering 103

EBizCharge

APRIL 25, 2024

Apply for a merchant account A merchant account is typically set up through a payment processor or acquiring bank. This account serves as an intermediary between the business and the payment processor or acquiring bank, facilitating the secure processing of credit and debit card transactions, among other forms of payment.

Online and Mobile Banking 52

Online and Mobile Banking Debit Card Credit Cards Contactless Payments 52

PYMNTS

DECEMBER 6, 2016

The speed at which digital banking is being transformed by new technologies is rapidly increasing. Whether that’s on their mobile device on the go or in their kitchen while they make dinner. KW: Innovation in the banking sector is blossoming. Where do you see this going, and how do you see it being adopted by banks?

Innovation 76

Innovation Online and Mobile Banking Zelle Venmo 76

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. Perhaps the biggest story in P2P, though, is the ongoing battle between P2P providers Zelle (operated by Early Warning Services ) and Venmo (owned by PayPal ).

P2P 79

P2P Zelle Venmo Debit Card 79

PYMNTS

NOVEMBER 18, 2019

To that end, according to Craig Ramsey, head of real-time payments at ACI Worldwide , the real-time payments focus in the United States through the present day has been on consumer propositions — sending money instantly between parties for groceries, restaurant bills and other expenses. The Merchants. The Corporate Case.

Real Time Payments 49

Real Time Payments Consumer ISO 20022 Online and Mobile Banking 49

Clearly Payments

APRIL 9, 2024

This includes digital platforms, software, and applications that offer financial services such as mobile banking, peer-to-peer (P2P) payments , online lending, and investment management. Key features of the fintech experience include mobile-first interfaces, 24/7 accessibility, and tech-driven personalized services.

Finance 84

Finance FinTech Online and Mobile Banking Payment APIs and Integration 84

PYMNTS

DECEMBER 24, 2018

But in hopes of hopping on the holiday bandwagon — and providing data-backed insight in the hottest payment trends for 2019 — allow us to offer this list of a dozen ways that consumers (and some businesses) are paying now, methods that promise to play big roles in 2019. So, how will consumers (and some businesses) pay? #1:

Consumer 83

Consumer Online and Mobile Banking Debit Card Volume 83

PYMNTS

MAY 27, 2020

And according to five observers across the spectrum of traditional financial institutions (FIs), payment networks and digital-only banks, opportunities are there for digital-first and hybrid models alike to succeed — so long as they harbor a relentless focus on identifying and solving customer problems. The Great Stress Test.

FinTech 94

FinTech Online and Mobile Banking Innovation FDIC 94

FICO

NOVEMBER 7, 2022

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? Also known as scams or authorized user fraud, this multi-billion-dollar global fraud challenge is a real headache for consumers and banks. . FICO Admin. by TJ Horan.

Scams 52

Scams Authorization P2P Zelle 52

PYMNTS

AUGUST 5, 2019

Perhaps that’s why, in the midst of the seemingly never-ending stream of headlines about data breaches, account takeovers, stolen credit cards and online fraud , the notion of “check fraud” seems something of an outlier for the up-and-coming fraudster looking to make a decent living. And consumers sometimes run into hard times.

Checks 65

Checks Instant Payments Online and Mobile Banking Irrevocability 65

PYMNTS

JANUARY 28, 2020

Everyone knows that digital and mobile services are key to success in the 2020s — not only in terms of more revenue, but also larger transformations. It’s not that banks don’t want to go more digital and mobile, he said. But such shifts must happen, lest those banks get left behind. Younger Consumers.

Online and Mobile Banking 67

Online and Mobile Banking FinTech Credit Union Non-Bank 67

PYMNTS

APRIL 15, 2020

consumers, fraud losses are not, yet. That indicates a solid start for American consumers, particularly compared to a market like Great Britain, where fraudsters have already scammed more than 1.6 Banks are adapting to the risk management realities and complexities, while also evolving in real time toward a demanding future.

Online and Mobile Banking 80

Online and Mobile Banking Scams Bots Risk Management 80

FICO

NOVEMBER 24, 2020

Fraud has spiked during the pandemic , with criminals upping their game as consumers swing into holiday shopping mode. The fraud problem has gone viral - consumers have filed more than 130,000 reports of fraud to the FTC and have lost $182 million to these activities during the pandemic. Like COVID, Fraud Is Rampant.

Identity Theft 98

Identity Theft Scams Online and Mobile Banking Account Takeovers 98

PYMNTS

JANUARY 4, 2018

Another year, another chance for mobile wallet players to convince consumers to give up their plastic cards and utilize the phone as a payments form factor. Despite there being some variety of “Pay” for every day of the week, none have garnered even a 10 percent usage rate among consumers. The most-used mobile wallet in the U.S.

Push-to-Card 43

Push-to-Card Online and Mobile Banking Mobile Payments Wire Transfer 43

PYMNTS

SEPTEMBER 3, 2020

Cash will always have a place among consumers — but its use is dwindling. Only 26 percent of all consumer payments are made in the U.S. with cash — and consumers are even starting to ditch plastic cards. He noted that ordering grocery items online and having them delivered is a practice quickly gaining traction.

Digital Payments 104

Digital Payments Multifactor Authentication Point-of-Sale (POS) C2B 104

PYMNTS

JULY 23, 2018

And this week, Prime Day, Google and Zelle were the best candidates for wins, losses and score-equalizers on the week. Target reported that its one-day sale on July 17 was its biggest online shopping day of the year, in terms of both traffic and sales. Prime Day has turned into a huge opportunity for all online retailers.”

Zelle 40

Zelle Venmo P2P Online and Mobile Banking 40

PYMNTS

SEPTEMBER 21, 2020

And consumers want to pay with their preferred methods, across cards or digital wallets. That information can include whether consumers are authenticated and where the point of sale is located. Consider the fact that just a few years ago, alternative payment rails Zelle and Venmo didn’t even exist. This is where AI comes in.

Fraud Prevention 124

Fraud Prevention AI Payment APIs and Integration Cross-Border 124