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Technology

Facebook to Senators: Libra Crypto Will Respect Consumer Privacy

Facebook blockchain lead David Marcus told U.S. lawmakers that the social media giant plagued by privacy scandals won’t have access to personal financial information with its new cryptocurrency.

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Is Core-banking Technology Nearing a ‘Big Shake-up’?

A veteran of one core-technology systems provider is throwing his weight behind another. Alexander Lopatine, the founder of Nymbus, has been named head sales in the Americas for San Francisco-based Mbanq, which simultaneously announced that is has bought the online and mobile banking platform AgilityFour. The price was not disclosed.

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Who Wins the Battle of Venmo vs. Zelle vs. Cash?

When it comes time to pitching in on a restaurant tab or sending 20 bucks to a friend, cash is no longer king, at least with millennials. Mobile payments are everything now. But if you are deciding which app to download — which service is best, and which is safer? It turns out it depends […]

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Blockchain-as-a-Service (BaaS) Market: Influential Factors Determining the Trajectory of the Market

Blockchain as a service (BaaS) allows enterprises to use cloud services for building, hosting, and deploying their own blockchain apps, agreements, and utilities. The cloud service provider supports all operations to keep the infrastructure responsive and functional.

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Industry

Three Tips for Becoming an Open Banking Brand Genie

Historically, bank brands could count on loyal customers to support multiple product lines and revenue streams, from deposit accounts to mortgages, credit cards to retirement portfolios.

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Cashierless Stores: Mobile Payments Wave of the Future or Temporary Fad?

While self-service cashierless stores arent exactly new, the notion of full stores, complete with full product lines, being utterly without cashier presence is a bit new.

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41 Fintech Industry Statistics, Trends & Analysis

The Fintech industry describes the new technologies that seek to automate and improve the delivery of corporate financial services. At its center is the need to help consumers, business owners, and corporations manage their financial operations with greater efficiencies.

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The Pink Portfolio: PayPal Has Bought Itself a Family

Introduction In May 2016, I started up the Pink Portfolio for our little girl. She was almost two years old then and she has just become five on June 11. The system is quite simple: my wife and I add 150 per month for her portfolio and buy stocks with it.

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Regional

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Bracing for Consolidation in Asia–Pacific Banking: The Quest for Scale

In our 2016 review of Asia–Pacific banking, we warned that a storm was brewing because of slowing macroeconomic growth, attackers, and weakening balance sheets. Three years later, these forces continue to exert pressure on the region’s banks, and forward-looking indicators suggest that many banks will struggle as the storm worsens.

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Big Tech Executives Headed to Capitol Hill for Antitrust Hearing Next Week

FILE PHOTO: The logos of Amazon, Apple, Facebook and Google are seen in a combination photo from Reuters files. REUTERS/File Photos WASHINGTON (Reuters) – Executives from Amazon.com Inc (AMZN.O), Apple Inc (AAPL.O), Facebook Inc (FB.O) and Alphabet’s Google (GOOGL.

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Visa and PayPal Join Forces to Allow Consumers and Small Businesses in Canada to Access Money Faster

TORONTO, July 2, 2019 /CNW/ -Visa and PayPal today launched a feature that allows consumers and small businesses in Canada to instantly access funds.

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Five Digital Banking Licenses Are Slated to Be Issued. Should Singapore Banks Worry?

The latest news on digital banking is that the Monetary Authority of Singapore (MAS) has decided to issue up to a maximum of five digital banking licenses, comprising up to two full-bank licenses and three digital wholesale bank licenses.

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Regulatory

Executives From Apple, Google, Facebook and Amazon to Get Grilled Next Week by Lawmakers

According to Bloomberg, a congressional panel will be holding a hearing a week from today (July 16th) on competition in the tech sector. The hearing will be held by the House antitrust subcommittee, led by Representative David Cicilline (D-RI).

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7-Eleven Is Suspending Its Mobile Payment Feature After Hackers Stole $500,000 From Japanese Consumers

Hackers exploited a flaw in a mobile payment feature introduced by 7-Eleven Japan on July 1 to target 900 accounts and use them to make 500,000 in purchases, causing the retailer to shut down the program, according to The Verge.

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US Lawmakers Ask Facebook to Cease Libra Cryptocurrency Development

Sovereign digital currencies could be one likely outcome of super-sovereign creations like Libra. We write to request that Facebook and its partners immediately agree to a moratorium on any movement forward on Libra-its proposed cryptocurrency and Calibra-its proposed digital wallet.

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Square Faces Suit Over Misdirected Medical Receipt

A California man is suing Square ( SQ +0.7), alleging that payments company violated privacy laws when it forwarded a digital receipt containing details of his medical history to one of his friends, the Wall Street Journal reports. The plaintiff, A. Trent Ruark, is seeking class-action status for the lawsuit.

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