Payments News

On The Web

nbsp;

Providers

Big Banks J.P. Morgan, Wells Fargo, and Bank of America Are Pulling Out of Lower-Income Neighborhoods

“Big banks have been closing branches in lower-income areas and shifting more of their attention to wealthier ones, according to a new report from Bloomberg. Overall, there’s been a trend among the biggest banks—specifically J.P. Morgan Chase, Wells Fargo, and Bank of America—to reduce their branch networks. Relying on ATMs and online banking is less expensive. According to S&P Global data analyzed by […]
nbsp; nbsp;

Providers

Money Out of Nowhere: How Internet Marketplaces Unlock Economic Wealth

“Fortunately, the rise of the Internet, and specifically Internet marketplace models, act as accelerants to the productivity benefits of the division of labour AND comparative advantage by reducing information asymmetry and increasing the likelihood of a perfect match with regard to the exchange of goods or services. In his 2005 book, The World Is Flat, Thomas […]
nbsp; nbsp;

Providers

Goalsetter Gives Parents a Way to Teach Their Kids How to Save Money

“Kids and parents together sign up for the app, where kids input some of their goals, from college tuition to a new bike or gaming console. Kids can then earn their allowance through the app, and can also receive ‘GoalCards’ (replacing a gift card) from parents and relatives to save towards their goals. Moreover, parents […]
nbsp;

Providers

JPMorgan’s Chase to Open up to 90 Branches in New U.S. Markets

“JPMorgan Chase & Co’s consumer banking unit said on Wednesday it will open up to 90 branches in new U.S. markets, in the face of intensifying competition for loans and deposits among the country’s three biggest banks. JPMorgan, Bank of America Corp, and Wells Fargo & Co are nip and tuck in deposits. Bank of […]
nbsp;

Providers

Challenging the Challenger Banks

“Fintech start-ups have begun a phenomenon some call the “unbundling of financial services” through stand-alone products such as unsecured consumer loans, credit cards, checking and savings accounts, or personal financial management tools. A cohort of entities known as “challenger banks” or “neo-banks” have also entered the market in an attempt to take on digital banking […]

On The Wires

nbsp;

Providers

Worldpay Becomes First Acquirer to Enable Amazon Pay

“Worldpay, Inc. (NYSE: WP ;LSE: WPY ) today announced it has teamed up with Amazon, making Worldpay the first acquirer enabling Amazon Pay for its merchants. Through this relationship, Worldpay merchants that accept payments in the United States can utilize Amazon Pay, providing an expedited, consistent and seamless online checkout experience. Through Worldpay’s API, online merchants can […]
nbsp; nbsp;