Payments

Heritage financial institutions that don’t support emerging embedded payments and banking risk further erosion of younger cohorts and losing material franchise value to fintechs, challenger or neo-banks equipped to originate and service accounts at the edge of partner networks, say payment consultants Richard Crone and Heidi Liebenguth.

TransferWise has partnered with Alipay to expand money remittance options for its users to instantly send Chinese yuan to friends and family in China.

Southeast Asian ride-hailing giant Gojek has raised $1.2 billion for expansion, defying tech-sector turbulence and the coronavirus pandemic to secure funds to take on Grab Holdings Inc.

In a scenario where employees regularly and accurately track and report their business expenses, this continuously updated data helps businesses make intelligent decisions quickly, says Fyle's Yash Madhusudan.

Governments are directly advancing real-time digital payments — a welcome move for Ripple, which is applying its relationship with MoneyGram and a growing base of eager partners to expand its network.

The nationwide lockdown in Italy has necessitated changes for Pellegrino personally, and for his business. The two worlds often intersect.

A managed services approach can help payment firms and fintechs pick the best open source projects, says Asset Control's Mark Hermeling.

SBI Cards & Payment Services Ltd. declined in its stock market debut as investor uncertainty stemming from the coronavirus pandemic cast a shadow over the listing of India’s first pure-play credit card issuer.

Amazon.com Inc. suffered a technical glitch on Sunday affecting online grocery orders through its Whole Foods and Amazon Fresh delivery services, which have become lifelines for household essentials for people looking to avoid stores due to the coronavirus outbreak.

Taking the time to consider which technology to adopt for the new, expanded organization can be a critical success factor in the long run, says Bottomline Technologies' Jessica Cheney.

Cobranded travel credit cards — including some of the most popular and profitable in the payment card industry — are looking at darker skies because of COVID-19.

Mastercard is working with Samsung to launch its Pay on Demand platform in emerging markets to drive financial inclusion.

Fraudsters tend to be oporptunistic. They’re constantly looking for new ways to abuse businesses and cardholders, making it difficult for security professionals to keep up, says Chargeback 911 and Global Risk Technologies' Monica Eaton-Cardone.

The central bank will inject $1.5 trillion into the money market, including buying more longer-term bonds; JPMorgan says its CEO “is doing very well” as he recovers from heart surgery.

Australia’s Airwallex group is seeking about $200 million in a series D equity funding round to bankroll its cross-border payments business globally, according to people familiar with the matter.

Cash use will suffer because of this outbreak, and there are factors other than germs contributing to this trend. A growing work-from-home workforce will funnel more shoppers into digital channels, including ones they may have never tried before.

In the tug-of-war between banks and third parties over who controls access to customer account data, payments are primed to play a key role as banks start to take action and regulators begin to weigh in.

As the fintech industry looks for ways to bring on more women, crossover hiring — recruiting from traditional financial services firms to fintechs — has emerged as an effective strategy, Donna Parisi of Shearman & Sterling and Michelle Tran of NYC Fintech Women write.

The Amazon effect in financial services will be much bigger than the one experienced by the retail industry—it will have a deeper impact due to the financial services industry being bigger and more vulnerable, and because consumers are now more comfortable with change, says TigerGraph's Todd Blaschka.

Firms such as Afterpay that offer financing to shoppers have been enjoying rapid growth. But their model is under scrutiny from regulators, being mimicked by credit card lenders and faces heightened risks in a downturn.