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Technology

Mobile App Spending to Double by 2024, Despite Economic Impacts of COVID-19

Mobile App Spending to Double by 2024, Despite Economic Impacts of COVID-19

The spread of COVID-19 has already had a significant impact on the mobile app industry and that will continue in the years to come.

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Coronavirus Throws Digital Banking Into the Crucible

Coronavirus Throws Digital Banking Into the Crucible

The coronavirus outbreak and resulting restrictions on daily life are highlighting the importance of digital platforms, testing their mettle and demonstrating the power of tools banks lacked in past crises.

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Innovating Cross Border B2B Payments: It Takes an Ecosystem

Innovating Cross Border B2B Payments: It Takes an Ecosystem

Tackling B2B payments friction is a journey, but when corporates take their transactions global, finding a remedy for cross-border B2B payments is a much more complicated process. The current climate of innovators appears to be up for the challenge, however.

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Will Regulators Make an Example of Trading Unicorn Robinhood?

Will Regulators Make an Example of Trading Unicorn Robinhood?

After three major outages in quick succession, US trading app Robinhood is probably wishing it had put that contingency plan in place, despite the unlikely odds of ever needing it.

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Industry

20 Payments Execs on COVID-19’s Ripple Effects – And Taming the Next Black Swan

20 Payments Execs on COVID-19’s Ripple Effects – And Taming the Next Black Swan

The black swan glides into view, beats its wings and sends shock waves through everyday life. Shorthand for unforeseen — and unforeseeable events — a “black swan” occurrence is characterized by its rarity, of course, but also its widespread and severe ripple effects.

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Banking Pulse: Trends, Technologies and Priorities That Will Shape the Industry in 2020 and Beyond

2020 is set to be defined by technological innovation, financial wellness and an elevated customer experience, says Oana Ifrim, senior editor at The Paypers.

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McKinsey: What COVID-19 Means for Banks and Banking

McKinsey: What COVID-19 Means for Banks and Banking

Coronavirus and the disruption it has caused have serious implications for the financial services industry, but will we see a financial crisis? The impact of the global Coronavirus pandemic has been felt in every nation and every industry.

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Helping FIs Maximize Card Portfolio Returns in Volatile Times

Helping FIs Maximize Card Portfolio Returns in Volatile Times

Consumers are navigating the vagaries of a brave new world dominated by the coronavirus. Cardholders’ behavior may shift on a dime. That means card portfolios can experience changing returns for financial institutions (FIs).

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Regional

Global Eretail Will Hit $4.8tn by 2024, Thanks to China and Developing Markets, Says Juniper

Global Eretail Will Hit $4.8tn by 2024, Thanks to China and Developing Markets, Says Juniper

A new report from Juniper Research finds that total eRetail transaction values could hit $4.8 trillion by 2024, up from $3.3 trillion in 2020, with growth being driven by emerging markets – typically China, which is set to see 62% value growth over the next four years.

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Exclusive: Mexican Startup Credijusto Raises $100 Million, Seeks to Boost Loans Amid Coronavirus

Exclusive: Mexican Startup Credijusto Raises $100 Million, Seeks to Boost Loans Amid Coronavirus

MEXICO CITY (Reuters) – Mexican fintech startup Credijusto has raised $100 million in debt from Credit Suisse Group, a move that will help it extend more loans to small and mid-sized businesses as banks gauge how to respond to the impact of coronavirus, its joint CEO said.

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Fueled by Increased Consumer Comfort, Mobile Payments in the U.S. Will Exceed $130 Billion in 2020

Fueled by Increased Consumer Comfort, Mobile Payments in the U.S. Will Exceed $130 Billion in 2020

The U.S. mobile payment market increased 41 from 69.8 billion in 2018 to 98.8 billion in 2019 according to eMarketer. The growth is significant since a mere 12.8 billion was spent in 2012. Mobile payments are increasingly being used by U.S. shoppers as customers become more comfortable with the technology.

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Customer Growth and Deposit Balances Wane for UK Neobanks

Customer Growth and Deposit Balances Wane for UK Neobanks

Digital banking startups in the UK now cater to almost 20 million customers, but face a strenuous challenge to reach profitability in the face of slowing growth rates and a decline in deposit balances. Neobanks operating in the UK added more than six million new customers in the second half of 2019, ending the year […]

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Regulatory

Card Networks to Postpone Interchange Adjustments

Card Networks to Postpone Interchange Adjustments

The payment card networks plan to postpone until July changes in their interchange schedules that they had planned to take effect in April, Digital Transactions News has learned.

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Fintechs Urge Congress to Designate Them as Small Business Lenders as Part of the Coronavirus Stimulus Package

Fintechs Urge Congress to Designate Them as Small Business Lenders as Part of the Coronavirus Stimulus Package

Fintechs want to play a part in helping SMBs as part of the stimulus package. Getty As U.S. Congress works to inject what is expected to be more than 1 trillion into the U.S. economy, the nation’s online lenders and fintechs want to ensure they are part of the solution.

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Same Day ACH Dollar Limit Increases From USD 25k to USD 100k

Same Day ACH Dollar Limit Increases From USD 25k to USD 100k

A s a result of the new limit extension, Nacha expects Same Day ACH to be ‘even more useful to businesses and consumers’. Furthermore, business-to-business (B2B) payments are expected to reap some of the biggest benefits. Other common uses for Same Day ACH include Direct Deposit payments for insurance claims and disaster assistance.

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Square Wins FDIC and Utah Approvals for Its ILC, Sparking Heated Banking Opposition

Square Wins FDIC and Utah Approvals for Its ILC, Sparking Heated Banking Opposition

The federal government and the state of Utah this week cleared the way for a controversial industrial loan corporation to be set up by Square Inc. that could help the payments company cement ties with its merchant base.

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