pymnts

Stripe Enables Corporates to Create Their Own Cards

Stripe is rolling out a new solution that lets businesses create and issue their own credit and debit cards, the company announced. In a press release, Stripe announced the launch of Stripe Issuing, its service that enables companies to create their own cards, both physical and virtual, via an API call.

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Travel Companies Struggle With Processing Costs

The global travel industry generates approximately $1.4 trillion in revenue annually and, in doing so, spends 5.4 percent of its revenue processing payments. In fact, worldwide airlines, travel agencies and hotels spend some $75 billion per year to pay their payment service providers.

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Google Updates Wear OS for Faster Payments

Alphabet’s Google released on Thursday (July 26) its Android P Developer Beta 5, as the company moves closer to rolling out the release of its mobile operating system, reported BGR. According to the report, in addition to working on the Android release, Google is also updating Wear OS, its operating system for wearable devices.

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ACH Network Payment Volume Jumps 6.2 Percent in Q2

NACHA – The Electronic Payments Association announced that debit and credit transactions totaled more than $5.7 billion in the second quarter of 2018, a 6.2 percent increase from the second quarter of last year.

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MoneyGram and Visa Team to Deliver Real-Time Global P2P

MoneyGram and Visa announced that they have partnered to deliver real-time digital disbursements to MoneyGram customers using Visa’s push payments platform, Visa Direct.

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Legacy Banks Embrace APIs to Counter Competitive Cycle

Legacy banks around the world have been under tremendous pressure in recent years to transform their business models, as upstart FinTech companies are removing the barriers to entry and credit access that have kept large numbers of growth businesses and consumers out of the market.

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BoA Debuts Commercial Prepaid App

Bank of America Merrill Lynch has announced the launch of a mobile application for cardholders of commercial prepaid cards.

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Startups Settle in Sydney to Join Growing FinTech Ecosystem 

Sydney, the most populous city in Australia, is also a burgeoning FinTech hub: In fact, Deloitte has ranked it as the eighth most conducive hub for growth in the FinTech sector. The city also has a deep financial talent pool, robust wealth management and a high rate of mobile use, the firm noted.

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Morgan Stanley: FinTech Looks ‘Attractive’

Wall Street firm Morgan Stanley is getting more bullish on the payments and processing markets, upgrading its investment rating to be attractive, with growth expected in the quarters to come.

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The Challenges and Rewards of Having Hundreds of Local Payment Options

Change typically brings confusion and some level of chaos, and that’s true for merchants trying to win over foreign shoppers and master cross-border payments – achievements that can provide a revenue edge as eCommerce continues to grow across the world.

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CFPB Names Paul Watkins as Innovation Head

The Consumer Financial Protection Bureau (CFPB) has announced that Paul Watkins, a lawyer, will lead the agency’s newly created Office of Innovation. I am delighted that Paul Watkins is bringing his deep expertise, track record of protecting consumers and commitment to innovation to the Bureau, Acting Director Mick Mulvaney said in a press release.

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World Cup Highlights Growth of Contactless Payments

Contactless payments scored big at the FIFA World Cup in Russia, with 50 percent of Visa purchases in tournament venues utilizing contactless transactions through cards, mobile devices and wearables. The popular sports event enabled Visa to highlight new payment technologies that save fans time, while keeping their payment credentials safe.

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