Quartz

Apple Is Suffocating Mobile-payment Rivals

Apple Is Suffocating Mobile-payment Rivals

When it comes to mobile wallets, Apple is the $1 trillion elephant in the room. The iPhone maker controls about half of the US smartphone market and around 10% worldwide. A recent survey showed that more than 80% of US teens have an iPhone. Every one of those devices comes pre-installed with Apple Pay, the […]

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Is PayPal’s Xoom Money Transfer Service a Good Deal?

Is PayPal’s Xoom Money Transfer Service a Good Deal?

PayPal launched its Xoom money transfer service in the UK and 31 other European markets last month. Is it a good deal for people sending money abroad? The answer, when comparing Xoom or any other transfer service, is “it depends.” Nearly $700 billion of remittances are sent across borders each year, changing funds from one […]

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Africa’s Fintech Startups Are Innovating Out of Need and Global Investors Are Backing Them

Africa’s Fintech Startups Are Innovating Out of Need and Global Investors Are Backing Them

It is hard to miss news of the several funding rounds recently raised by fintech startups in Africa. After pulling in almost a third of total funding raised by startups on the continent in 2017, the hot streak for African fintech businesses has continued this year.

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Apple Is Becoming a Formidable Fintech Company

Apple Is Becoming a Formidable Fintech Company

A growing anxiety for bank executives is how and when big tech companies will encroach on their turf. During its quarterly earnings call yesterday, Apple CEO Tim Cook gave some insight into the company’s progress in becoming something of a fintech player: Apple Pay transactions tripled from a year earlier, to more than 1 billion.

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China’s Payments Giant Coming for Western Union

China’s Payments Giant Coming for Western Union

On Monday (June 25) Ant Financial, the payments and financial services arm of Chinese e-commerce giant Alibaba, unveiled a cross-border remittance service powered by blockchain technology.

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