On The Web

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Companies

Apple Pay Transaction Volume Growing 4x As Fast As PayPal, Tim Cook Says

October 31 2019

• in
• Apple

“Apple Pay has been growing at a brisk pace recently, and Tim Cook is making a point to emphasize that fact. During Apple’s Q4 2019 earnings call today, Cook touted that revenue and transactions for Apple Pay doubled year-over-year as the service continues to outpace PayPal.”

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Companies

Synchrony Looks to Venmo’s Social Network To Help Market the P2P Service’s New Credit Card

October 29 2019

• in
• Synchrony Financial
• Venmo

“PayPal Holdings Inc. and Synchrony Financial have been sparing about the details of a new credit card they plan to issue for PayPal’s Venmo peer-to-peer payment service, but on Monday a top Synchrony executive said the partners are counting on a key characteristic of Venmo to help market the new card.  “We’ll use the social […]

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Companies

Mastercard’s Top and Bottom Lines Benefit As Transaction Volume Jumps 20%

October 29 2019

• in
• Mastercard

“Mastercard Inc. switched 20% more transactions on its worldwide network in the third quarter than it did a year earlier as purchase volumes remained strong and new growth markets generated more transactions. “Growth was broad-based,” Mastercard president and chief executive Ajay Banga said Tuesday morning during the company’s third-quarter earnings conference call with analysts.”

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Companies

Travelers to China Can Finally Experience Its Cashless Economy Like a Local

November 5 2019

• in
• Alipay
• China

“Short-term visitors to mainland China can download a version of the Alipay app to pay for things using QR codes, according to a statement today from parent company Ant Financial. Travelers are able to use Alipay’s “Tour Pass” program, which allows them to use a prepaid card service from the Bank of Shanghai. Visitors can […]

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Companies

Investors Aren’t Moved by Uber’s Shift Into Banking

October 31 2019

• in
• Uber

“The “pivot” to fintech has been a popular strategy among Asian tech and ride-hailing companies. India’s Ola made fintech a priority in 2015 after spinning out its payment service, Ola Money , into a standalone app. Indonesia’s Go-Jek started its Go-Pay service in 2016. “There is some precedence for success,” Bernstein analyst Harshita Rawat said […]

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Companies

Curve, the ‘over-the-top’ Banking Platform, Adds Support for Samsung Pay

November 4 2019

• in
• Samsung

“Curve , the London-based “over-the-top banking platform,” has added support for Samsung Pay in the U.K., making it easy for Samsung smartphone owners to pay using their mobile phone, regardless of who they bank with. The new feature is enabled by Curve’s ability to consolidate all of your bank cards into a single Curve card. […]

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Companies

Facebook’s New Patent Shows How The Tech Giant Wants To Help You Manage Your Spending – CB Insights Research

November 1 2019

• in
• Facebook

“Facebook wants to provide more financial advice. A recently approved patent from the company highlights a tool to “compare a user’s financial transactions to financial transactions of a group.” Simply, Facebook is offering a financial planning tool that allows users to benchmark their financial habits against their peers’ behavior.”

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Companies

Goldman Hands Out $10 Billion in Credit Lines for Apple Card

November 1 2019

• in
• Apple
• Goldman Sachs

“Goldman Sachs Group Inc. leaders have been coy about backing up their recent assertion that the Apple Inc. card is the industry’s most successful credit card launch ever. Regulatory filings this week offer a first glimpse into the numbers that had the bank gushing.”

On The Wires

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Companies

Mastercard Launches Accelerate to Supercharge Fintech Success

October 28 2019

• in
• Mastercard

“Mastercard today launched Mastercard Accelerate, a global initiative that simplifies the way that Mastercard works with fintechs, giving them access to everything they need to grow quickly. Offering a simple, single entry-point to the company’s wide portfolio of specialized programs, Mastercard Accelerate gives start-ups and emerging brands support and assistance for every stage of their […]

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Companies

CITCON Releases UnionPay Pass, the First Complete Suite of UnionPay Products in the U.S.

October 29 2019

• in
• UnionPay

“CITCON , the integrated mobile payment and commerce leader, today announced the release of CITCON UnionPay Pass at Money 2020. CITCON UnionPay Pass is the first complete suite of UnionPay products available online and offline globally, serving the world’s largest cardholder base of more than about 8 billion cards issued worldwide, particularly from China, South […]