What does AmEx gain from Kabbage?
It seems small business lending fintechs are becoming a hot acquisition target. Reports surfaced yesterday that American Express is looking to acquire SMB lender Kabbage for $850 million, just two...
View ArticleWeekly Wrap: AmEx eyes Kabbage and mobile adoption spikes
American Express and Kabbage made headlines this week with reports the card company is looking to acquire the fintech for $850 million. Industry thinkers point out Kabbage could provide AmEx with a...
View ArticleWatch: SwipeSum demos its payment cost savings platform
SwipeSum’s platform helps business owners find the best possible rates for their payment processing needs. According to the four-year-old startup, it has saved business owners more than $2.3 million in...
View ArticleWells Fargo’s Ben Soccorsy to speak at BI Build
Ben Soccorsy, senior vice president and head of digital payments for Wells Fargo virtual channels, will speak at Bank Innovation Build, which will be presented in a fully digital format Sept. 9-10. He...
View ArticleWeekly Wrap: Credit card customer satisfaction falls, and tech jobs move inland
Customer satisfaction with credit card issuers has dropped since the start of the COVID-19 pandemic due to card terms and a lack of communication, according to a report from J.D. Power. Tech jobs,...
View ArticleCOVID-19’s impact on payments: Five key lessons
As the broader market impact of coronavirus comes into focus, it’s important for payment stakeholders to step back and reflect on the key lessons learned thus far to serve as a guide for the future. In...
View ArticleBanks, fintechs give debit cards a makeover
Debit cards are leveling up as they receive upgrades from banks and fintechs alike. “We’ve enabled push-to-debit so that we continue to give optionality for our customers who need to make immediate...
View ArticleScotiabank’s Rose to speak at Banking Automation Summit
Bank Innovation is pleased to announce that Shawn Rose, executive vice president and chief digital officer at Scotiabank, will speak at the Banking Automation Summit, a virtual conference on Nov. 9-10...
View ArticleApple would have to share payment tech under rules mulled by EU
The European Union is considering new rules that would likely require Apple Inc. to give competitors access to payments technology inside its iPhones. The new laws would prevent mobile device...
View ArticleGood business: Eco-friendly credit cards on the horizon
The plastic credit card consumers keep in their wallets may soon change. With more consumers demanding eco-friendly business practices, issuing banks could benefit from using more sustainable card...
View ArticleTouchless payments are here to stay, Amex says
The rise in digital and contactless payments among consumers and merchants is likely to stick post-pandemic as preferences shift from cash to tap, according to fresh data from Amex. For both businesses...
View ArticleApple may face EU rules to open up payment technology
The European Union is weighing legislation that could force Apple Inc. to open iPhone payment technology to competitors. The potential rules would grant other payment services a right of access to...
View ArticleWeekly Wrap: The rise of contactless payments and Bank of America breaks...
Contactless payments are here to stay in the post-COVID world, according to recent data from Amex, but cash’s staying power may hinder banks from fully realizing the efficiencies of digitized payments....
View ArticleSmaller FIs fail to meet customer demand for Zelle
Credit unions and community banks have some catching up to do when it comes to meeting changing customer payment needs, according to new data from Aite Group published yesterday. Although 67% of...
View ArticleNexi said to eye Denmark’s Nets in new blockbuster payments play
Nexi SpA is already hunting for its next target after agreeing a milestone payments merger with Italian rival SIA SpA, as consolidation in the sector shows little sign of easing. Milan-based Nexi has...
View ArticleU.S. explores restrictions on Ant Group, Tencent payment systems
The Trump administration is exploring restrictions on billionaire Jack Ma’s Ant Group as well as Tencent Holdings Ltd. over concerns that their digital payment platforms threaten U.S. national...
View ArticleOther markets outpace the US in finance app installs
The U.S. is trailing other markets when it comes to finance app downloads, according to a new study from the mobile marketing platform Adjust and the mobile analytics platform Apptopia. “COVID-19 is...
View ArticleConsumers turn to big tech, neobanks for payments
The COVID-19 pandemic is changing how consumers make payments, according to consulting firm Capgemini’s World Payments Report 2020. Since April, over 38% of consumers found a new payments provider...
View ArticleBofA Zelle numbers jump $7 billion quarter over quarter
Bank of America customers sent $39 billion through Zelle during the third quarter, up from $32 billion last quarter. “This digital enablement is a trifecta of better customer engagement and client...
View ArticleStartup Promise aims to modernize municipal payments process
Promise wants to help consumers stay on the government’s good side by keeping them out of debt. The 3-year-old social justice-minded startup offers a white-label payment platform to municipalities...
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