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Welcome to the new PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web:
JetBlue's Wireless takes off: Mobile payments on planes in flight have been slow to catch on, mostly because of the lack of wireless internet. That is starting to change, as JetBlue has completed full fleet deployment of Fly-Fi, the airline's free wireless service, including gate to gate connectivity. The deployment also includes a collaboration with Amazon to stream entertainment and access to the airline's "shop-and-earn" loyalty program. JetBlue has been adding digital payment technology for some time, including an early deployment of Apple Pay to power payments on iPhones and the Apple Watch. Other companies pursuing inflight digital transactions include CellPoint Mobile, which offers a workaround for mobile wallet payments while airborne.
A JetBlue Airways Corp. Airbus Group SE A320 aircraft taxis to the gate on the tarmac at Long Beach Airport (LGB) in Long Beach, California, U.S., on Monday, April 25, 2016. JetBlue Airways Corp. is scheduled to release earnings figures on April 26. Photographer: Patrick T. Fallon/Bloomberg
Patrick T. Fallon/Bloomberg
New Android Wear is coming soon: After months of speculation and delays, Android Wear 2.0 is expected to be released in early February, according to the Android Police site. The launch comes as the market for smartwatches is cooling, though Google is still bullish on watches for billing and other uses, reports 9to5Google, which also reports Google has alerted developers of the imminent launch of Android Wear 2.0. The new wearable technology is also expected to include support for Near Field Communication (NFC), the technology that powers contactless mobile payments, as earlier code makes reference to the programming tools required for tap and pay payments on watches.
A Brexit detente for fintech?: The Brexit vote has led to concerns that technology and finance companies would leave the country, as well as attempts from other countries such as France to lure companies away from the U.K. But Belgium is trying a different strategy. Finextra reports the Belgian government has started talks with the U.K. technology agency Innovate Finance about collaboration between the two countries on financial technology. Under the plan, an innovation hub in Brussels would support fintech startups, and would establish a presence in the U.K. to support British technology development. B-Hive, a consortium of banks, insurance companies, transaction companies, technology companies and support businesses, would be the basis for the cross-country collaboration.
Payoneer, Stripe score with investors: Payoneer and Stripe had the second and third largest venture financings in the fourth quarter, according to the National Venture Capital Association's quarterly monitor. Payoneer raised $180 million, while Stripe raised $150 million. OpenDoor, a real estate sales app, had the top deal at $210 million. Overall, venture capital firms invested about $69 billion in the U.S. in 2016, which was down from $79 billion in investment in 2015, though still at the highest levels in the past decade. Researchers say 2017 is expected to remain strong, with investments going into machine learning and other artificial intelligence ventures.
More from PaymentsSource
Alt payment companies use AI to stoke bankers' fears Disruptors have chased banks for years with the promise of easier and more social payments and other services, but only recently have they started wielding a weapon that should have incumbents worried, says investor Adam Dell.
House Dems urge Trump not to fire CFPB's Cordray House Democrats sent a letter Tuesday to President-elect Donald J. Trump, urging him to reject calls by Republicans to fire Richard Cordray, the director of the Consumer Financial Protection Bureau.
Amazon flips the script on premium card rewards Amazon is revamping its cobranded rewards card, adding a higher tier of rewards for people who pay a $99 annual fee — as 65 million people already do — for Amazon Prime membership.
Citigroup is on a quest to modernize its global payments stack and be the go-to financial institution for cross-border payments and international corporations. Debopama Sen, head of payments at Citi's Services business, spoke with American Banker about the divisions' progress since its Services Investor Day in June 2024.
The Cincinnati bank aims to grow in northeast Ohio with the acquisition of Westfield. The deal is expected to boost First Financial to a $20.6 billion institution.
House Financial Services Committee Chair French Hill, R-Ark., declined to say whether he would pass the Senate's GENIUS Act without making his own changes, as President Trump has preferred.
Nissan Motor Acceptance Corp. has applied for an industrial loan company charter, joining General Motors and Ford in hoping for better prospects for approval under the Trump administration.
Barely two years after adopting a bank charter, NewtekOne in Florida plans to expand beyond its roots as an SBA 7(a) lender by growing its alternative loan program.
