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Technology

Payfone Nabs Funding; Partners With TransUnion

Payfone announced that it has secured a 24 million funding round, led by TransUnion. The funding also included participation from existing investors Synchrony, MassMutual Ventures, Massachusetts Mutual Life Insurance Company and Wellington Management.

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Google Pay Not Part of Payment Processing, No License Required: Google

As Delhi High Court seeks an explanation from Reserve Bank of India (RBI) regarding the operations of Google Pay in the country without proper licensing, the company has released a statement in its defense. According to the statement, Google Pay positions itself as a company that complies with all applicable legal requirements.

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How Mobile Payments Are Changing the Restaurant Industry

By Alex Barrotti, founder and CEO of TouchBistro Restaurants are diversifying the payment methods they accept. Cash, credit, and debit payments are almost universal across full-service restaurantsin the U.S., but restaurants are increasingly accepting digital walletslike Apple Pay, Google Pay, and Samsung Pay.

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Gartner Predicts Top 10 Global Retailers Will Use Real-time Pricing by 2025

Gartner predicts global retailers will leverage contextualised real-time pricing through mobile applications to manage and adjust in-store prices for customers.

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Industry

Gift Transactions on Zelle Prompt Chase to Roll Out Gift Cards for Mobile and Digital Users – Digital Transactions

A surge in gift transactions on the Zelle person-to-person payment network has led JPMorgan Chase Co. to roll out a feature allowing its mobile users to send digital gift cards.

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Worried a Recession Is Coming, U.S. Online Lenders Reduce Risk

NEW YORK (Reuters) – U.S. online lenders such as LendingClub Corp, Kabbage Inc and Avant LLC are scrutinizing loan quality, securing long-term financing and cutting costs, as executives prepare for what they fear could be the sector’s first economic downturn.

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Transactions Grow, Yet Cash Still Preferred

More cities and other municipalities are banning retailers from banning cash. Since a percentage of the population still operates in a cash-only environment, and many but not all, are low-income individuals, banning cash is the equivalent of banning this segment of society from these establishments.

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Benefits of Implementing ITIL in an Organization

The main aim of ITIL is to improve business services. It also solves various business issues. This is done by optimizing and setting up a wide variety of processes, policies, and activities in order to ensure that IT becomes an asset to the company. It reduces a lot of time and money as the risks […]

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Regional

Vietnam Tops Global Growth for Mobile Payments

Vietnam has recorded the highest growth in mobile payments in the past year, according to research by PwC. Singapore also saw strong growth, climbing 12 percentage points from 34 in 2018 to 46 in 2019.

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Singapore’s Mobile Payments Growth Hits 46% in 2019

It lags behind Vietnam in terms of growth rate. Mobile payments in Singapore climbed 12 ppt from 34 in 2018 to 46 in 2019, making the nation the fifth fastest in terms of mobile payments growth in Southeast Asia, according to a research by PwC. This is said to signify a payoff in the efforts […]

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Asia Driving Global Mobile Payments, With Eight in Top 10 Markets

Vietnam is the fastest-growing global market in mobile payments, clocking a 24 percent climb from last year, with 61 percent of its consumers tapping such services. Across the globe, China leads the pack with 86 percent of its population tapping mobile payments, followed by Thailand at 67 percent.

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Paytm Money Receives Sebi Approval to Start Stock Broking Services

The Securities and Exchange Board of India (Sebi) has given approval to Paytm Money the investment and wealth management platform of the mobile payments company to start offering broking services. According to reports, it had applied for the licence in October last year.

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Regulatory

Major Retailers Attack Banks Over Tap Payments Routing Gouge

The Banking Royal Commission may be over, but Australia’s peak retail body is nowhere near finished when it comes to spotlighting lucrative institutional fee rorts the Reserve Bank of Australia and other regulators are trying to stamp out.

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International Regulation Is Needed for the Digital World

For the sake of citizens and companies alike, a new system of digital governance must be found to serve the common good, write Anne-Marie Slaughter and Fadi Chehad. Governments built the current systems and institutions of international cooperation to address 19th and 20th century problems.

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Proposed Ban on Cashless Stores Expanded to Include Amazon Go

Supervisor Vallie Brown on Tuesday announced she is expanding her proposed ban on cashless businesses to include Amazon Go, which has two stores in San Francisco and plans for a third.

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Creating Exceptional Customer Experiences Hangs on More Than Context-less Data Alone

Subscribe to The Financial Brand via email for FREERecent surveys and studies covering the banking sector tell us that bank branch traffic has dropped by more than 60 over the last several years and that the contingent of consumers requiring a physical location continues to go down.

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