PaymentsJournal

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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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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Credit Union Results: Struggling With a Purpose

Credit Union Results: Struggling With a Purpose

Credit Unions are a fascinating aspect of financial services. Rather than running as private, for profit financial institutions, credit unions serve on behalf of their members. In the United States, the governing body is the National Credit Union Administration (NCUA), rather than the Federal Reserve Bank, which oversees banking institutions.

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Credit Card Lending: Fair Is Foul and Foul Is Fair

Credit Card Lending: Fair Is Foul and Foul Is Fair

Act 1, Scene 1 of Shakespeare’s Macbeth comes to mind when considering the challenge of credit card lenders today, as three witches chant about the unclarity of what is good and evil. An article in today’s WSJ talks about how lenders “pulled back sharply on lending” because they can’t tell who is creditworthy anymore.

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No Longer Sleepy Associations, Mastercard and Visa Are Fintechs

No Longer Sleepy Associations, Mastercard and Visa Are Fintechs

It used to be that credit and debit card companies connected the four-parties involved in branded network payments through non-profit associations. These non-profits facilitated interbank clearance so that a card payment drawn from bank “X” could clear against a merchant account serviced by bank “Y.

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How Financial Marketers Can Leverage Mobile During Times of Uncertainty

How Financial Marketers Can Leverage Mobile During Times of Uncertainty

How Financial Marketers Can Leverage Mobile During Times of Uncertainty With locations closed and limited human interactions, financial institutions need to adapt quickly to connect digitally with consumers who are leveraging mobile-first banking now more than ever.

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Top 3 Mobile App Development Technologies That Will Reshape Mobile Banking in the Covid-19 Crisis

Top 3 Mobile App Development Technologies That Will Reshape Mobile Banking in the Covid-19 Crisis

More than a third of the entire world’s population is under various forms of lockdown. For instance, South Africa went into lockdown for 21 days. New Zealand ordered 14-day quarantine for all individuals in this country. The UK went into full lockdown on 23rd March 2020.

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Intelligence in Digital Banking: 3 Things You Should Know

Intelligence in Digital Banking: 3 Things You Should Know

Digital banking is a complex industry with its own “rules and laws”. Like any other industry, digital banking is gradually developing, but if you want to get successful with it, you need to know some very important things about integrating intelligence and artificial intelligence into digital banking.

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The Coronavirus and the Payments Industry: Big Deal or Much Ado About Nothing?

The Coronavirus and the Payments Industry: Big Deal or Much Ado About Nothing?

We are living in anxious times. With COVID-19 still spreading, but no real data on how widely and how fast, alarmist speculation is the order of the day. While it is understandable that people want to know as soon as possible how bad the effects will be, and prepare for the worst, there is a […]

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Millennials: More Than Just Credit Cards to Worry About

Millennials: More Than Just Credit Cards to Worry About

Today’s NYT talks about how Millennials Could Make the Fed’s Job Harder. A young generation of aggressive savers could leave central bankers with less room to cut interest rates, which they have long done to boost growth in times of economic trouble. To leave the work force early, millennials would need to build up massive […]

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Payments Are Quickly Moving to the Cloud

Payments Are Quickly Moving to the Cloud

This article from TechRadar understates how rapidly payments are moving to the cloud and the role of data in driving that transition. It also incorrectly positions Google, Apple, Facebook and Amazon as key payment suppliers driving the transition.

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The Rise of Challenger Banks in the Payments Space: How Can Traditional Banks Keep Up in 2020?

The Rise of Challenger Banks in the Payments Space: How Can Traditional Banks Keep Up in 2020?

With the emergence of challenger banks and big tech companies, traditional financial institutions are facing a rising number of competitors in the increasingly crowded payments space. These competitors have begun to address some of the unmet needs of consumers, such as those of the largely underserved gig economy workers.

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