Fintech

DCC is popular with payment processors and merchants because it almost effortlessly boosts profits, gouging an often one-time consumer instinctively comfortable and receptive to paying in his familiar home currency, writes Eric Grover, a principal at Intrepid Venture.

Ant Financial, the Alibaba affiliate that operates Alipay, is planning an IPO that could be worth hundreds of billions of dollars — but the funds it could raise are secondary to the consumer population it already controls.

Floodwood Area Credit Union and Northwoods Credit Union have completed a merger, with the resulting institution holding more than $110 million in assets and serving more than 10,000 members.

India’s Unified Payment Interface is a model that other developing economies can emulate, as they look to move away from cash-centricity and overhaul their own payments infrastructure in pursuit of speed, security, auditability and financial inclusion, writes Anoop Villait, managing director of corporate development at Transpay.

Resourceful crooks will relentlessly probe systems, processes and people until they find a weakness or an opportunity. That weakness is the magnetic strip that still exists on all EMV cards, according to Nathan Horn-Mitchem, senior vice president and chief information security officer at Provident Bank.

If banks with high loan-to-deposit ratios overpay for brokered and promotion-driven deposits to fuel loan growth, they run the eventual risk of a liquidity crunch in an era when deposits — and the economy itself — are expected to be more volatile.

The credit union will be the naming rights sponsor for the team’s new rooftop apartment deck.

The Middle East presents a rare opportunity for digital payment innovators to access a populous and high-spending region with good levels of connectivity, writes Tom MacDonald, financial and business services practice head for Global Growth Markets.

Bill.com has implemented a strategy to make B2B payments more like Zelle or Venmo, removing the same pain points that those P2P apps do for consumer payments.

Retail banking chief Christian Sewing will become CEO immediately; higher deposit rates could trim lending margins as banks head into earnings season.