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6 Ways David Marcus Transformed Facebook Payments

6 Ways David Marcus Transformed Facebook Payments

It was an attention-grabbing decision when Facebook hired PayPal’s president, David Marcus , in 2014. At the time, Facebook didn’t have much of a dedicated payments business to speak of; when people thought of spending money on Facebook, they typically thought of in-app purchases in Farmville.

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Consumers Want Mobile Technology in E-Commerce but a Third Still Haven’t Experienced It

Consumers Want Mobile Technology in E-Commerce but a Third Still Haven’t Experienced It

The acceleration of e-commerce adoption in 2020 has fueled 10 years’ worth of growth in 90 days, according to a new study from Periscope by McKinsey.

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It’s Time to Revisit the Benefits of Virtual Cards for Payables

It’s Time to Revisit the Benefits of Virtual Cards for Payables

In the wake of the many changes this year has brought, companies are moving toward making more of their supplier payments electronically. It’s a welcome thing. Check payments have dwindled in consumer life, but across US industries, nearly half of all supplier payments are still made by check.

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Square Shows Strength Going Beyond POS Payments

Square Shows Strength Going Beyond POS Payments

In a recent PaymentsJournal commentary, I noted that Square was continuing to diversify into banking and related financial services. Its POS payment transaction service operates in a crowded field and is limited by a commodity-type pricing model. Now Stripe’s expansion beyond POS transactions is really paying off.

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Industry

Visa Becomes First Digital Payments Network to Issue Green Bond

Visa Becomes First Digital Payments Network to Issue Green Bond

Visa has priced its inaugural green bond offering, totaling $500 million, paying a semi-annual coupon of 0.75% and maturing August 15, 2027. The green bond, believed to be the first issued by a digital payments network, will be used to help advance the company’s commitment to environmental sustainability and a sustainable payments ecosystem.

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Contactless Payments Win Out Among Health and Safety Concerns

Contactless Payments Win Out Among Health and Safety Concerns

The contactless payment landscape is one that has benefited from the growing health concerns across the globe, according to new analysis from global digital business transformation consultancy Publicis Sapient.

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Debit Cards Dominating Retail Payments, Fueled by P2P and eCommerce

Debit Cards Dominating Retail Payments, Fueled by P2P and eCommerce

For a product that was introduced before any Millennials were born — much less members of Gen Z — the debit card continues to show it has as many lives as the proverbial cat, adapting surprisingly well to an increasingly digital world. Debit card transactions grew 6.5% in 2019, a healthy number in itself.

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This John Legend-backed Startup Uses AI to Improve Your Credit—for Free

This John Legend-backed Startup Uses AI to Improve Your Credit—for Free

Credit cards are a trap. They’re easy to use, but difficult to pay. When you inevitably forget to pay your bill on time, or you spend more than you can afford, late fees and interest kick in. And suddenly, like over half of credit card carrying Americans, you’re in serious debt.

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Regional

The Evolution of Payments Following a Global Pandemic

The Evolution of Payments Following a Global Pandemic

It’s 2022 and people around the world are finding a ‘new normal’, with employees commuting to work and roads and public transport are busy once again. Consumers are spending more confidently with retailers once again. After a continued global effort to flatten the curve and months of social distancing, life is slowly returning to normality.

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Big U.S. Banks Predict More Economic Pain From Coronavirus

Big U.S. Banks Predict More Economic Pain From Coronavirus

NEW YORK (Reuters) – Three of the largest U.S. banks said on Tuesday they had set aside a whopping $28 billion for loan losses, in a stark reminder that much of the economic pain from the coronavirus pandemic is still to come.

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Cutting Corners in China: Credit Cards Circumvent Cash Advance Controls and Limits

Cutting Corners in China: Credit Cards Circumvent Cash Advance Controls and Limits

An interesting story in Caixin Global, a news source covering the Chinese market, talks about a trend where card processors, particularly Alipay and WeChat Pay, circumvent payment card industry standards on credit card cash advances.

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Financial Inclusion: Mexico Is Missing a Move to Digital Banking

Financial Inclusion: Mexico Is Missing a Move to Digital Banking

When the history of the coronavirus’s impact on Latin America is written, it will highlight the acceleration that the virus had on the shift to digital banking and the subsequent economic impact of this.

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Regulatory

Indisputable: More Credit Card Disputes

Indisputable: More Credit Card Disputes

As if rising credit card risks and accounting changes under Current Expected Credit Loss (CECL) bring gloom to quarterly reporting, the industry must also watch for an increase in disputed payments, as the American Banker reports in today’s read.

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California Judge: Uber, Lyft Can’t Call Drivers Contractors

A California judge has passed an injunction to force Uber and Lyft to stop classifying their workers as independent contractors rather than employees, CNBC reported. The order, pending further court action, will take place in 10 days. The companies have requested a brief stay for appeals. The issue of how the gig workers for the […]

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Why ‘Earned Wage Access’ Is Suddenly a Big Deal

Why ‘Earned Wage Access’ Is Suddenly a Big Deal

Most of us are used to receiving our salaries twice a month, like clockwork.

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Durbin Asks Fed to Probe Visa, Mastercard, Issuers Over PINless Purchases

Durbin Asks Fed to Probe Visa, Mastercard, Issuers Over PINless Purchases

Dive Brief: Sen. Dick Durbin, D-IL, asked the Federal Reserve in a letter Friday to examine whether payment networks Visa and Mastercard and debit card issuers are engaging in anticompetitive practices when issuers don’t enable PINless functionality, according to The Wall Street Journal.

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