Battle of P2P Services: Venmo or Zelle
EXCLUSIVE – Owe someone money, rent to pay, bills to split? What is the favored P2P method – the bank-backed Zelle app? Or social platform p2p service, Venmo? In a poll conducted by Bank Innovation via...
View ArticleNew App Emma Seeks to Be the Only Banking App on Your Device
EXCLUSIVE – There’s a new banking app in town – Emma. The British fintech company, which is still in beta, is gearing up for its launch in the U.K now that it received FCA approval to operate under the...
View ArticleNeobank Monzo to Close Prepaid Card Services in April 2018
British challenger bank Monzo will shut down its prepaid card program in April this year, the bank said on its blog yesterday. Monzo first announced its plans to shutter prepaid cards last year. Users...
View ArticleWestpac Bank Customers Finally Can Use iMessage for Payments
Following a troubled relationship with tech giant Apple, Westpac Bank customers can finally use iMessage to send and receive money. The Australian bank’s customers can now make P2P transactions within...
View ArticleWeChat Makes Its Way to Italy
Chinese mobile payments platform WeChat Pay arrives in Italy, enabling Chinese shoppers to make purchases in the country. These transactions can be online or in stores. WeChat Pay’s launch in Italy...
View ArticleDoes Disney World Have Plans to be a Cashless World?
Walt Disney World is piloting a cashless resort at its Animal Kingdom Lodge next month. According to a WDW report, starting Feb. 12, Jambo House at the Animal Kingdom Lodge Resort will be the first...
View ArticleThere’s No Room For Another Consumer Payment App in the U.S.
EXCLUSIVE— The march of mobile banking and payments continues across the U.S., but it may be smarter for those startups looking to break into that market to look at other regions, Eric Wiesen, general...
View ArticleDBS, Xero Create Online Payment Solution for Singapore SMEs
Singapore-based bank DBS has partnered with technology provider Xero to build an online payment solution for small and medium-sized enterprises, the companies announced today. The DBS-Xero solution...
View ArticleBank of America Merrill Lynch Announces New Virtual Payables Feature
EXCLUSIVE – Bank of America Merrill Lynch has added a new feature to its Virtual Payables product, an offering which allows its commercial clients to automate post-invoice payments. The new feature (or...
View ArticleAs New Technologies Falter, Identity Remains a Top Concern for Businesses
EXCLUSIVE—Facial recognition and other forms of biometric authentication may not have their golden moment in 2018, as the recent iPhone news suggests, but that doesn’t mean identity is less of a...
View ArticleInnovation Hub Motive Labs Seeks to Solve Major Pain Points of Retail Banks
EXCLUSIVE – The two fundamental keys to most challenges retail banks and payment companies face on the innovation front are personalization and efficiency, according to Alberto Corvo, a founding...
View ArticleBofA Eliminates Free Checking Accounts, Now Charging $12 Fee to Low-Balance...
EXCLUSIVE- Bank of America has quietly shuttered its free checking account, now requiring customers to keep a certain minimum balance in their accounts, or set up direct deposit of at least $250, to...
View ArticleNo More Bitcoin Payments on Stripe
Payment processor Stripe will no longer support bitcoin payments on its platform, citing the cryptocurrency’s price volatility as a factor making it an unsuitable form of payment. Stripe Product...
View ArticleEU Banks Must Support Biometric Authentication by April 2019, Mastercard Says
Payments provider Mastercard has issued a deadline for the availability of biometric authentication across its cards, stating that all customers will be able to use fingerprints or facial recognition...
View ArticleBitcoin Joins American Express and PayPal on 2017 List of Social Media Darlings
American Express is the “most-loved” financial service on social media in 2017, according to a recent report, followed by PayPal, Vanguard and bitcoin. NetBase examined 55 brands across sectors...
View ArticleBank of America Merrill Lynch’s API Gateway Seeks to Connect EMEA Clients...
EXCLUSIVE- Echoing the mandate of PSD2, Bank of America Merrill Lynch today unveiled an API gateway that seeks to connect its commercial clients to fintechs and other third-party vendors. As of now,...
View ArticleSingapore Mobile Wallets Form Consortium to Create ‘Interoperable’ QR Payments
Seven mobile wallets have formed a payments consortium in Singapore, the goal of which is to create an “inoperable” QR payments solution for both merchant and consumer use, it was announced today. The...
View ArticleFintech Security Startup Tender Armor Raises Millions in Series A Funding
EXCLUSIVE – Fintech security company Tender Armor today raised a Series A funding from private investors. The amount was undisclosed, but company CEO Madeline Aufseeser told Bank Innovation the...
View ArticleConversational Banking May Already Be Mainstream, Mastercard Says
EXCLUSIVE—Two out of three U.S. adults are already comfortable interacting with retailers, banks, and other companies using natural language technology, according to a study released by Mastercard...
View ArticleChinese Search Engine Baidu Seeks to Raise $2B For Financial Services
Chinese company Baidu is in talks with prospective investors for the purpose of raising $2 billion in funding focused on expanding its weight in financial services, Reuters reported yesterday. The...
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