Payments News » Uncategorized

The Pros and Cons of Postal Banking

April 30 2018

“Everything old is new again, it seems. My most recent column covers an idea for a government “job guarantee” that has faded into and out of the popular consciousness since the 1940s. Now Sen. Kirsten Gillibrand (D., N.Y.) wants to use the U.S. Postal Service to compete with retail lenders, another idea that resurfaces periodically.”

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Zelle places its bets on corporate-customer transactions

April 30 2018

“But even though Early Warning Services, the payment network behind Zelle, has focused many of its efforts on peer-to-peer services since then, it has “several” large corporate customers that use Zelle to disburse money to individuals, said Lou Anne Alexander, Early Warning’s group president for payments. Their transactions tend to be smaller in volume but […]

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Not just dumb pipes: Fintech investment slows as banks try to gain back control

April 5 2018

“The Banks in Fintech report, released this week, found that banks have been foregoing big investments and partnerships over the past five quarters with a preference for building products in house — particularly in lending, payments and personal financial management. In both the U.S. and Europe banks spent more of their architecture investment dollars on capital markets software companies […]

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Fintech Regulation: New Law to Impact Mobile Wallet Operators in Singapore

October 16 2018

“Singapore is about to introduce a new law to prevent shadow banking by requiring mobile wallet operators and payments startups to ring-fence deposits so they don’t function as unregulated banks.”

Domains

Banks are turning branches into coworking spaces

May 21 2018

“As megabanks like JPMorgan Chase and Bank of America work on improving business banking by enabling things like digital onboarding and Zelle for business customers, small banks are working on branch innovation, mostly by turning them into coworking spaces. Earlier this year, JPMorgan Chase said despite the continuing decline of bank branches it would open 400 new ones […]

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U.S. Mobile Giants Want to be Your Online Identity

September 13 2018

“The four major U.S. wireless carriers today detailed a new initiative that may soon let Web sites eschew passwords and instead authenticate visitors by leveraging data elements unique to each customer’s phone and mobile subscriber account, such as location, customer reputation, and physical attributes of the device. Here’s a look at what’s coming, and the […]

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Five Reasons The Payments Business Is Ripe For Big Change

September 20 2018

“The fintech revolution is changing the way banks and payments companies have won and retain customers. Traditionally, one institution could serve all of your financial needs. In the near future, business and consumers will interact with multiple companies in a more decentralized, technology-driven system.”

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Credit-Card Issuers Not the Bargain They Appear to Be

October 8 2018

“Growth of revolving consumer credit balances slowed to 6.1% in 2017 from 6.8% in 2016, according to Federal Reserve data. It slowed further in the first half of this year, contracting slightly in the first quarter and rising at a 2.9% annual rate in the second. But lending recently reaccelerated to a 5.6% annual rate […]

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Nearly 80 Percent of Banks Expect Real-Time Payments and Open Banking Will Drive Payments Transformation Over Time

April 30 2018

“As open banking continues its rapid ascent, nearly 90 percent (87) of banks globally plan to move forward with open APIs, according to new benchmark data, “2018 Global Payments Insight Survey: Retail Banking,” from ACI Worldwide (NASDAQ: ACIW) and Ovum. The benchmark, comprised of responses from executives across financial institutions, merchants and billing organizations such as consumer finance […]

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T-Mobile and Sprint to Combine, Accelerating 5G Innovation & Increasing Competition

April 30 2018

“The combined company will be named T-Mobile, and it will be a force for positive change in the U.S. wireless, video, and broadband industries. The combination of spectrum holdings, resulting network scale, and expected run rate cost synergies of $6+ billion, representing a net present value (NPV) of $43+ billion will supercharge T-Mobile’s Un-carrier strategy […]