Is Facebook Paying $0 for Payment Processing?
One of the rumors circulating around Facebook’s new payments service is that the social media giant will not pay even 1 basis point to process payments. While this is just an unlikely rumor, the...
View ArticleJust 9 FinTech Startups Present at Y Combinator’s Demo Day
More than 100 companies demoed at Y Combinator’s Winter Demo Day, which runs for two days and concluded yesterday. Fintech, however, was not particularly well-represented. Just nine fintech startups in...
View ArticleMobile Banking Usage Continues to Climb, Fed Says
Mobile banking usage continues to advance in the US, with fully 39% of adults “with mobile phones and bank accounts” using mobile banking, up from 33%, the Federal Reserve reported today. This is the...
View ArticlePayStand Offers First Bitcoin mPOS
Bitcoins could soon be easier to use at your local point-of-sale. Payment processor PayStand, which made waves last year with its announcement that it would process bitcoin transactions along with...
View ArticleAlerts Grow in Importance as Mobile Banking Feature [VIDEO]
Alerts, also known as push notifications, are the third most popular use of mobile banking apps, according to a report from the Federal Reserve Board released today. More than half of mobile users —...
View ArticleWhy Some People Make Mobile Payments (and Why Some Don’t)
People make mobile payments to pay bills, or they don’t use them because it’s no easier than using a card or cash. That’s according to data from the Board of Governors of the Federal Reserve System,...
View ArticleFirst Look at Misys’s Apple Watch App [VIDEO]
Yes, Citibank, Fidelity, Desjardins, Scotiabank’s Tangerine unit, and even Mint have launched Apple Watch apps. But Misys is the only third-party technology vendor to put out a Watch app so far. The...
View ArticleAmazon Gets Jump on Payments for ‘Internet of Things’ With Dash [VIDEO]
Payments through the Internet of Things is here. Amazon today introduced Amazon Dash, which allows consumers to reorder household staples with the click of a “Dash Button,” which would be affixed on...
View ArticleAlerts, the Gateway to Wearables
What time is it? How about time to pay your credit card bill? The most important driver of adoption for bank apps on wearable devices will not be mobile payments — it will be alerts. For payments, the...
View ArticleFintech 1,000: B2C Payments will be be 10x cheaper but volumes will increase 10x
The Fintech revolution is Moore’s Law finally impacting Banking, Finance, Securities and Insurance (BFSI). If the cost of a payment is simply a flicker of attention from a server somewhere whose cost...
View ArticleGreen Dot Diversifies Ahead of Regulatory Risk & Walmart Worries
You can’t accuse Green Dot of standing still. In the past several weeks, the prepaid-player-turned-bank has added functionality and diversified its channel mix. A mid-March move to increase...
View ArticleBBVA Compass and Dwolla Launch Realtime Payment Service [Video]
Money movement service Dwolla and BBVA Compass Bancshares, the Birmingham, Ala.-based bank, have struck a deal to provide a realtime payment service. Called FiSync, the service is said to move money...
View ArticleAverage Pay for Fintech Software Engineers Tops $100k
The average salary for a fintech software engineer is now more than $100,000, according to a Bank Innovation analysis. The exact average salary for a software engineer — a bread-and-butter position for...
View ArticleTwo More Apple Watch Bank Apps Announced
It seems bankers like watches. Today brought news of two more banks announcing the development of Apple Watch apps: DAB Bank in Germany, and BankMobile, a mobile offering from Customers Bank in...
View ArticleThis Israeli Startup Just Leapfrogged Everyone with Apple Watch Payments
24me, an elegant “personal organizer” app built in Israel, has quietly figured out how to facilitate payments via Apple Watch. Before Apple Watch is even in consumers’ hands. The 24me Apple Watch app...
View ArticleMobile User Growth Eases at Bellwether Banks
Mobile banking ain’t growing like it used to. A deep look mobile banking at the Big 3 banks — Bank of America, Wells Fargo & Co. and JPMorgan Chase & Co. — finds user growth easing. The banks...
View ArticleAmerican Express Starts Paying Consumers to Use Apple Pay
American Express has started paying its cardholders to use Apple Pay. Yes, you read that right. Yesterday, Amex started promoting an offer that pays its cardholders in Chicago $5 to use Apple Pay at...
View ArticleInnovation vs. Product Upgrade: Why the Difference Matters in Banking
Banks have an opportunity to innovate their way out of today’s challenging business landscape, but first they need to actually innovate. Banks are not innovative organizations, and they lag behind...
View ArticlePayPal Revenue Surpasses EBay Marketplaces As Spinoff Nears
PayPal is ready to go its own way. Revenue for PayPal exceeded that of its sister unit, eBay Marketplaces, for the first time in 1Q, it was revealed in yesterday’s earnings call for eBay Inc. PayPal...
View ArticleCapital One: Think More Like a Tech Company, Less Like a Bank
How will banks compete in a rapidly digitizing world? Capital One CEO Richard Fairbank knows. “We’re going to need to think more like technology companies and maybe a little less like banks,” he told...
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