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Fintechs (Not Banks) Could Reap Windfall From $800 Billion Opportunity in US Equity Market

Fintechs (Not Banks) Could Reap Windfall From $800 Billion Opportunity in US Equity Market

ADVERTISEMENT As the global pandemic alters life as we know it, accelerating the work-from-home culture, shifting priorities and creating soaring demand for Zoom conferencing, fintech solutions are quickly encroaching on banks — the Blockbuster Video to their Netflix.

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Coronavirus Boosts Online Banking, Payments Usage in the US

Coronavirus Boosts Online Banking, Payments Usage in the US

US bank branches are still shuttered amid the pandemic, but consumers are more likely to conduct their banking online, according to recent research. An April 2020 William Mills Agency survey conducted by The Harris Poll found that 73% of US adults were more likely to leverage digital banking and payments while social distancing.

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Americans Create New Economic Threat With Their Own Savings

Americans Create New Economic Threat With Their Own Savings

For example, Visa reported that credit card payment volumes plunged 31% through April 28. Visa said the only category of US payments volume that is growing is food and drugstores, along with Walmart, Costco and Target. Spending on everything else was down in April.

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German Watchdog Investigates Payments Company Wirecard

German Watchdog Investigates Payments Company Wirecard

FRANKFURT (Reuters) – Germany’s financial watchdog BaFin said on Tuesday it was conducting multiple investigations into Wirecard (WDIG.DE), sending its shares lower and adding to pressure over allegations it has denied. At 1309 GMT, Wirecard’s shares were 3.3% lower, making them the biggest faller on the German blue-chip index.

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More Than Half of Americans Now Use Contactless Payments, According to Mastercard Poll

More Than Half of Americans Now Use Contactless Payments, According to Mastercard Poll

Contactless payments were already on the rise in the U.S., but the ongoing coronavirus pandemic has hiked up the number of Americans using various touch-free payment methods.

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Will China’s Digital Currency Compete With Alipay, WeChat Pay?

Will China’s Digital Currency Compete With Alipay, WeChat Pay?

China’s central bank digital currency (CBDC) is currently in the test phase, with screenshots recently circulated. There’s been some discussion in the Chinese press about how the digital yuan might impact the two dominant wallets WeChat Pay and Alipay.

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Facebook Strikes $5.7 Billion Deal With India’s Richest Man

Facebook Strikes $5.7 Billion Deal With India’s Richest Man

TOPLINE Facebook has become the largest minority shareholder in Indian oil and telecom tycoon Mukesh Ambani’s cut-price Jio mobile internet network with a 5.7 billion deal. India’s richest man, Mukesh Ambani, struck a bumper deal to sell a stake his Jio mobile network to …

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An Analysis of Planned Changes to Network Rates Yields a Deep Impact for U.S. Merchants

An Analysis of Planned Changes to Network Rates Yields a Deep Impact for U.S. Merchants

Visa Inc. and Mastercard Inc. have postponed their planned U.S. interchange revisions until July, but when these changes do take effect the net impact on merchants will be deep, according to an analysis released by CMSPi, an Atlanta-based global merchant payments consultancy.

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Card Networks Are Encouraging Contactless Payments Worldwide

Card Networks Are Encouraging Contactless Payments Worldwide

Payment firms are pushing contactless payments as governments and consumers try to minimize the interactions between people and common surfaces to combat the spread of the virus. Business Insider Intelligence Mastercard and Visa are raising contactless transaction value limits in several more countries.

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Global Eretail Will Hit $4.8tn by 2024, Thanks to China and Developing Markets, Says Juniper

Global Eretail Will Hit $4.8tn by 2024, Thanks to China and Developing Markets, Says Juniper

A new report from Juniper Research finds that total eRetail transaction values could hit $4.8 trillion by 2024, up from $3.3 trillion in 2020, with growth being driven by emerging markets – typically China, which is set to see 62% value growth over the next four years.

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Exclusive: Mexican Startup Credijusto Raises $100 Million, Seeks to Boost Loans Amid Coronavirus

Exclusive: Mexican Startup Credijusto Raises $100 Million, Seeks to Boost Loans Amid Coronavirus

MEXICO CITY (Reuters) – Mexican fintech startup Credijusto has raised $100 million in debt from Credit Suisse Group, a move that will help it extend more loans to small and mid-sized businesses as banks gauge how to respond to the impact of coronavirus, its joint CEO said.

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Fueled by Increased Consumer Comfort, Mobile Payments in the U.S. Will Exceed $130 Billion in 2020

Fueled by Increased Consumer Comfort, Mobile Payments in the U.S. Will Exceed $130 Billion in 2020

The U.S. mobile payment market increased 41 from 69.8 billion in 2018 to 98.8 billion in 2019 according to eMarketer. The growth is significant since a mere 12.8 billion was spent in 2012. Mobile payments are increasingly being used by U.S. shoppers as customers become more comfortable with the technology.

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