Top Stories

  • Moving Past the Myths of Payments Innovation

    All you need is a hot idea and some funding. All you have to do is listen to what consumers say they want. The big players have an inherent advantage. Meetings suck the creativity out of any worthwhile project. Those are some of the common myths of innovation, and they apply to the payments world.

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  • How Worried Should Banks Be About the FBI’s ATM Attack Warning?

    People who work in information security departments are confronted with security alerts every day; at large banks they get hundreds of thousands a day. Choosing which to act on and which to leave alone is never easy. The FBI sent a confidential alert to banks late last week, warning that a rash of ATM theft […]

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  • Data: Who Wants Contactless Cards?

    The U.S. may be next to see a surge of contactless credit cards, following other major markets around the world. In many locales similar to the U.S., consumers tap to pay for about 20 of all in-store transactions using Near Field Communication-equipped cards, far surpassing the number of mobile payment users. But it’s unclear whether […]

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Technology

Square Overtakes Venmo as Cash App Cryptocurrency Play Bears Fruit

Square’s push into the cryptocurrency market is leading to a surge in downloads for the firm’s Cash app, surpassing PayPal’s popular Venmo mobile money service for the first time.Cumulative downloads for the Cash App now total 33.5 million, exceeding Venmo’s 32.9 million for the first time ever, according to data from Sensor Tower and Nomura.

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Square Cuts Chip Card Processing Time by 44% to 2 Seconds

Square has announced that it has cut its chip reader processing time for card transactions down to just two seconds. The news comes a little more than a year after Jack Dorsey took to Twitter to boast that Square had trimmed its processing time down from 4.2 seconds to 3.

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In FinTech, the Race for Patents (And More)

In technology, innovation, of course, is as critical as oxygen, fueling the next big thing and boosting top and bottom lines. And shoring up that next big thing comes with patent filings, part of the arsenal of protecting intellectual property, shepherding concept to reality.

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Square’s Cash App Expands Bitcoin Trading to All 50 States

Mobile payment company Square’s Cash App has recently rolled out Bitcoin (BTC) trading in all 50 states, the firm confirmed in a Tweet August 13. According to the companys announcement, Cash App users are now able to conduct Bitcoin buy and sell transactions in all the U.S. states.

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Industry

Ten Experts Debate Bitcoin’s Recent Declines and the Future of Cryptocurrency

Bitcoin’s price was above 8,000 at the end of July. Now, in the middle of August, the cryptocurrency is down to around 6,500. What you’re seeing now is a bit of panic selling Brian Kelly said on CNBC’s Power Lunch on Tuesday. To me, it’s one of the better entry points that we’ve had in […]

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Chase Partners With Expedia on Travel Rewards

Travelers who use J.P. Morgan Chase credit cards are about to get a free upgrade. Credit-card customers who redeem rewards through the bank’s web portals will have access to more than double the travel inventory starting Sunday, according to a person with knowledge of the change.

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Zelle Wants to Let You Pay Businesses, Too

Zelle, a Venmo-style app that lets consumers send money to friends, roommates and babysitters, is working on ways to ensure that customers can safely pay small businesses as well, according to people familiar with the situation. Zelle, backed by Bank of America Corp., JPMorgan Chase Co.

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Kurt Russell to Star in Cryptocurrency Thriller ‘Crypto’

Cryptocurrency values may have peaked in December 2017, but the cryptocurrency movie has nowhere to go but up – at least, that’s what the producers of Crypto are hoping. The upcoming film, currently in post-production, tells a classic crime thriller set against the backdrop of shady cryptocurrency dealings (think Michael Clayton meets Sicario).

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Regional

Australia Post Calls on Banks to Pay More

Australia Post boss Christine Holgate wants the 209-year-old institution to play a bigger role in providing banking services, but says she needs more money from the banks to do so.

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Ripple Targets China for Blockchain-Based Cross-Border Transaction

Jeremy Light, the European Union strategic accounts’ Vice President at Ripple has expressed the company’s interest in the Chinese market. In an interview with CNBC, Light has stated that China interests Ripple since it can provide assistance to the nation for speed enhancement of cross border payment based on blockchain technology.

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Blockchain Helps Philippines UnionBank Cut Operational Costs

The adoption of blockchain in UnionBank’s internal processes has resulted in lower operational costs. The decision to adopt blockchain in its internal processes has allowed UnionBank of the Philippines (UBP) to cut operational costs while learning more about the application of the technology.

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Bank of China to Raise Fintech Spending, Pursue Blockchain Projects

The Bank of China’s chief information officer recently shared details on the bank’s blockchain efforts as he unveiled plans to boost fintech spending, according to local news reports.

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Regulatory

U.S. Treasury: Regulators Should Back Off FinTech, Allow Innovation

The Treasury Department recently released a report urging state and federal regulators to revamp outdated statutes and support technological innovations such as AI, machine learning and blockchain that could make the U.S. financial system more nimble and competitive.

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OCC’s Fintech Charter Is a Mistake

The national fintech charter announced last week by the Office of the Comptroller of the Currency has been positioned by its supporters as a means of encouraging innovation and growth, but instead it brings new risks and market distortions to the U.S. economy.

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How the World Is Regulating the $220 Billion Cryptocurrency Market

As an increasing number of people get involved with cryptocurrencies in some way, particularly retail rather than professional investors, regulators have taken a keen eye on the industry. But it’s not just bitcoin they are looking at.

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Some States Readying for a Fight Over Federal Government’s FinTech Oversight

Some states are girding for a fight with the Trump White House over plans for the federal government to increase its role in overseeing the FinTech startup market.

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