PaymentsSource

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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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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Biometrics Can Take More Contact Out of Contactless Payments

Biometrics Can Take More Contact Out of Contactless Payments

We’ve come a long way in the evolution of digital payments. Magnetic stripe cards, chip-and-PIN and contactless technology have all played a role in dethroning cash as “king of payments” with many countries well on their way to becoming cashless economies.

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Coronavirus Contactless Payments Are Here to Stay

Coronavirus Contactless Payments Are Here to Stay

For years, the payments industry waxed unpoetically about transactions that eliminate physical interaction. There was contactless, mobile, mobile wallets, card not present, e-commerce, e-payments, e-invoicing, NFC, one-touch, one-tap, etc. We just kept pumping out new buzzwords. I have a new name for all of those: Corona Free Payments.

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Amazon and Payment Apps May Hurt Banks More Than Retailers

Sweeping changes to the financial services industry are underway and will accelerate dramatically in the coming years. In fact, the financial services industry should get ready to experience its very own “Amazonification” in the next year or two.

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5 Things to Know About the Future of Wearable Payments

As contactless payments become more ubiquitous in certain European and Asian countries, wearable payments technology is seeing a dramatic increase in adoption. This is particularly true for the devices themselves — such as Apple Watches and Fitbit fitness bands — that may have been recently given as gifts during the holiday season.

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Vital Fed Payment System Experiences Second Delay of 2019

Vital Fed Payment System Experiences Second Delay of 2019

The Federal Reserve is investigating the second significant disruption in 2019 of a payments service administered by the U.S. central bank. Certain bank transactions were delayed after ACH — which stands for the automated clearinghouse system — experienced delays but it is now up and running.

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FedNow Will Have a Hard Time Stopping Fraud

FedNow Will Have a Hard Time Stopping Fraud

The way in which we process payments here in the U.S. market has undergone significant change over the years. That said, the Automated Clearinghouse (ACH) process itself has remained fairly static, at least up until now. That’s all set to change, with the Federal Reserve’s recent announcement of its FedNow service.

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What Google’s Fitbit Deal Means for Wearable Payments

What Google’s Fitbit Deal Means for Wearable Payments

Bloomberg News The smartwatch market is expected to more than double over the next five years as use cases expand for fitness, health care, payments and controlling other devices, according to ResearchandMarkets.

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Static Authentication Stands in the Way of Contactless Progress

Static Authentication Stands in the Way of Contactless Progress

When it comes to new payment technologies, it’s often difficult to know what consumers are thinking, and banks have a lot on their plates. Aligning a transformation strategy with the desires of consumers is an interesting chart to plot. One thing that’s clear is both banks and consumers have embraced contactless.

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Big Tech Is Turning Banks Into Dinosaurs

Big Tech Is Turning Banks Into Dinosaurs

People still need banking services. But banks? How sustainable are they in 2019? That’s another matter. A traditional piece of banking business business model is going away. Namely, they will no longer make money off of money. Doing so is no longer profitable. High interest rates are gone and they are never coming back.

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How Retailers Benefited From the MCX Mobile Wallet’s Failure

How Retailers Benefited From the MCX Mobile Wallet’s Failure

CHICAGO — If the retail giants’ Merchant Customer Exchange payments venture collapsed under the weight of trying to create a one-size-fits-all mobile wallet to bypass card networks, then the implosion of that joint venture was the best thing that could have happened.

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