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Does the Device Make the Payment or the Payment Make the Device?

Does the Device Make the Payment or the Payment Make the Device?

by November 21, 2014 at 11:42 am 0 comments

What comes after mobile in payments? Mobile may be all the rage now, but wearables are coming fast, and then there’s the Internet of Things, and there’s even that guy who embedded his bitcoin wallet in his hand — ouch!

Ffrees heralds the banking utility future that customers want and bankers fear

by November 21, 2014 at 10:11 am 1 comment

You need to get past that clunky URL to understand Ffrees (yes, there are two f). It is worth it, trust me. Click here to avoid misspelling (you will find a very engaging video online and a clear pitch to simpler banking and zero overdraft fees). A current account is a service. (Read, “checking account”, […]

Compliance Burdens on FIs Increased 26% in 3Q

Compliance Burdens on FIs Increased 26% in 3Q

by November 20, 2014 at 11:53 am 1 comment

The third quarter saw a 26% rise in the compliance burden for FIs. This data arrives via the Banking Compliance Index, produced by Continuity Control, a New Haven, Conn.-based provider of a cloud-based compliance management system for community banks. The latest results of the index were announced Saturday, November 15.

This European Fintech Unicorn Is Low Profile and Bootstrapped

by November 20, 2014 at 7:49 am 1 comment

Saxo Bank is low profile unless you have been deep into currency trading, but check out these numbers: 2011 Revenue: US$594m (3,526.9m DKK at 5.94) 2011 Profit: US$104m (617.8m DKK at 5.94) Apply a similar revenue multiple that is applied to a hot VC funded company and you get to north of that $1 billion […]

Snapcash is a Window into What Users Don’t Want Snapchat to Know

Snapcash is a Window into What Users Don’t Want Snapchat to Know

by November 19, 2014 at 11:12 am 0 comments

Reactions to the announcement of Snapchat’s new payments service ran the gamut from “the future of payments” to, well, a way to pay people for sending you nude pictures.

Full Stack Fintech vs White Label Fintech

by November 19, 2014 at 1:05 am 1 comment

Banks want to know: “Are these Fintech startups going to eat our lunch?” The answer, as always, is “it depends”. It depends on whether the Fintech startup is a “we bring your lunch” type or a “we eat your lunch” type: 1. We bring your lunch. This is traditional Fintech, the modern version of which […]

Excitement About Mobile Payments Outruns Reality

Excitement About Mobile Payments Outruns Reality

by November 18, 2014 at 11:57 am 1 comment

Customers are fired up to make mobile payments using Google Wallet and Apple Pay even if they don’t own the devices they would need to accomplish this. That information arrives via a recent survey by Stratos, makers of a “connected card” solution along the lines of Coin and Plastc.

Implications of American Payments Being so Different from Rest of World

by November 18, 2014 at 3:54 am 0 comments

Europeans and Asians love pointing out how backward America is in payments, because American tech firms dominate the payments landscape. There are three big ways that America is different in payments: 1. Americans still use Credit Cards with mag stripe, not chip and pin. 2. Americans still write checks. I have been back in Europe […]

Apple Adds China’s UnionPay to App Store Payments

Apple Adds China’s UnionPay to App Store Payments

by November 17, 2014 at 11:46 am 0 comments

UnionPay cardholders — everyone with a payment card in China — can now use their cards to make payments in Apple’s App Store. With 100 million iPhone users, China is the iPhone’s leading growth market, and Tim Cook has repeatedly stated this is where he sees Apple’s greatest opportunities lying.

Apart from Coinbase, here are the other Fintech Y Combinator batch alumni

by November 17, 2014 at 3:37 am 0 comments

There are many Accelerators but Y Combinator seems to lead the pack. So when one of their Fintech graduates moves into the big time, it is big news in the little corner of the world that we call Fintech. No strike that, Fintech is pretty big and getting bigger. Financial Services is up there with […]

Behind the Scenes at JPMorgan Chase’s New Startup Events [VIDEO]

Behind the Scenes at JPMorgan Chase’s New Startup Events [VIDEO]

by November 14, 2014 at 10:59 am 0 comments

JPMorgan Chase released a video yesterday showing off its sponsorship of Seattle Startup Week, a mentoring and networking event that took place Oct. 20 to 24. The bank sponsored a similar event in Denver in September. These events are two of a projected five events in cities across the country. For the series, Chase has partnered with UP Global, a Boulder-based not-for-profit with a mission fostering entrepreneurship and strong communities.