According to Credit Suisse analysts, India’s payments market could grow from $200 billion today to reach $1 trillion by 2023. Walmart is smiling because it’s $16 billion purchase of more than 80% of e-commerce giant Flipkart included small payments subsidiary PhonePe. With Indian mobile usage ...
Read more
Banking
Banking
Could you double your financial services company revenue by offering loans for as little as $30 and insurance policies at 30-cents per month? After 10 years in operation, Indian digital payments company MobIKwik believes that’s its path to profitability this year and double its revenue ...
Read more
This week’s global payments news roundup starts with Amazon’s launch of a new delivery option called Counter and partnering initially with 100 Rite Aid locations. Kount AI is a new fraud detection program built on artificial intelligence that simulates a skilled fraud analyst. Coresight Research ...
Read more
Welcome to this week’s global payments news roundup which leads off with an interview with Bank of America CEO Brian Moynihan who talks about moving towards a cashless society. Next, we look at Facebook’s Libra cryptocurrency announcement and what’s ahead for the proposed new cryptocurrency ...
Read more
At Fortune’s Brainstorm Finance conference in Montauk, NY yesterday, Bank of America (BoA) CEO Brian Moynihan said his bank is ready for a cashless society. Moynihan highlighted how his financial institution has embraced fintech and “probably spent $30 billion on code” in the past eight years ...
Read more
Let’s face it. Cross-border B2B payments are still at the teething stage. Trillions of dollars move through large decentralized financial networks daily, but the process is slow, complicated, and expensive for banks and their business customers. Visa B2B Connect aims to ease the pain of cross-border ...
Read more
According to FICO, over 25% of US consumers have a “poor” credit rating thanks to overspending, over lending, and inadequate regulation. That’s more than 43 million Americans with credit scores less than 629 and 14% of the population has no credit rating at all. Another ...
Read more
Getting a handle on what’s happening in banking this year and in the future is a big challenge. Cornerstone Advisors surveyed 305 senior executives at US-based, mid-size financial institutions (FIs), 60% from banks and 40% from credit unions to get a picture of banking in ...
Read more
The $1.9 trillion payments industry is getting a lot of attention and billions of dollars of investment from venture capitalists these days, according to a CNBC report. That makes for a lot of potential new payments industry unicorns on the horizon. Pitchbook Data, which monitors ...
Read more
After a week of subpoenas, bank intrigue, and political drama, we thought you’d enjoy a simple global payments news roundup leading into the US Memorial Day long weekend. First, we look into why cash is still used by 31% of US consumers. We explore why ...
Read more