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Say Hello to Our Spring 2016 Class of Startups

Say Hello to Our Spring 2016 Class of Startups

by April 28, 2016 at 11:00 am 0 comments

Bank Innovation INV, this blog’s fintech accelerator, is pleased to today to announce the six extraordinary startups that have been admitted to its inaugural class. The companies selected from applications received from startups around the world are: CrossCues Dyme GoldBean Hermetic Security Spare We Are Briqs The companies, chosen after aRead More

Visa and MasterCard Offer Faster EMV

Visa and MasterCard Offer Faster EMV

by April 27, 2016 at 12:57 pm 1 comment

People called, and MasterCard and Visa answered. In the past week, both card networks announced updates to their point-of-sale systems that promise to reduce the time it takes to use an EMV chip-enabled card at the checkout line. Cue cheering crowds. Visa released its new technology, dubbed Quick Chip, last week, claimingRead More

Starbucks: Can It Get Any More Mobile Than This?

Starbucks: Can It Get Any More Mobile Than This?

by April 22, 2016 at 1:58 pm 0 comments

Starbucks proves, once again, that it owns mobile payments. The Seattle coffee giant now has 19 million active mobile app users in U.S. alone, Kevin Johnson, president and chief operating officer said, and mobile represented 24% of the total payments in 2Q. The company’s Mobile Order & Pay program, launchedRead More

Holvi Adds Long-Promised Business MasterCard — But Where’s BBVA?

Holvi Adds Long-Promised Business MasterCard — But Where’s BBVA?

by April 22, 2016 at 11:04 am 0 comments

Finnish banking service Holvi announced in March it was joining the Spanish megabank BBVA, which also acquired Simple, but its digital presence makes no mention of it. Nor was BBVA mentioned in the announcement of Holvi’s long-awaited MasterCard for businesses. The card, which will become available April 26, was first discussed aboutRead More

How Payments Is Fueling China’s E-Commerce Megaboom

How Payments Is Fueling China’s E-Commerce Megaboom

by April 20, 2016 at 9:56 pm 0 comments

HONG KONG — The numbers are in “holy *$#%” territory. “The numbers” are for e-commerce sales in China, and they are astounding. In the first two months of 2016, China’s online retail sales hit $98.2 billion, an increase of 27% over the previous year. That puts it on pace to hit around $590Read More

BofA Offers Free Credit Score Online

BofA Offers Free Credit Score Online

by April 20, 2016 at 5:06 pm 0 comments

Bank of America is now offering its customers free access to their credit scores within the bank’s website, according to an email sent to customers today. The functionality is provided by the credit bureau TransUnion. Customers can now enroll to receive monthly updated Fico scores through email, by logging in theirRead More

ClearXchange Partners Lagging Bank of America by ‘Months’

ClearXchange Partners Lagging Bank of America by ‘Months’

by April 15, 2016 at 9:48 am 1 comment

Bank of America Corp. needs to wait “a few months” for its clearXchange partners to catch up to it. The megabank’s CEO, Brian Moynihan, said yesterday that clearXchange was “a few more months” from “heavy” marketing of the P2P payments platform. The holdup? The other partners. “We’re up and operatingRead More

Payments in Iran Now Said to Be Possible

Payments in Iran Now Said to Be Possible

by April 12, 2016 at 12:03 pm 2 comments

Yet another barrier to business in Iran appears to have fallen. Paymentwall, a San Francisco online payments company, announced today that it has integrated its payment services into the Shetab, which is Iran’s “unified, electronic clearance system for the entire Iranian banking operations that allows it to facilitate transactions fromRead More

PayPal Continues to Pursue Square in the POS Space [VIDEO]

by April 8, 2016 at 12:21 pm 1 comment

PayPal and Square are increasingly covering the same territory. PayPal foillowed Square to the point-of-sale, and Square launched a P2P service — it’s been this way for years now. PayPal is now stepping up marketing efforts (the Super Bowl ad) and also promoting PayPal Here, its point-of-sale solution, which is having success getting customersRead More

Security Trumps Convenience for Online Shoppers, Study Finds

Security Trumps Convenience for Online Shoppers, Study Finds

by April 7, 2016 at 12:16 pm 0 comments

Online retailers prize a smooth checkout and one-click checkouts, but it turns out customers care more about security than convenience when shopping online. (We’ll leave aside Domino’s Pizza’s “zero-click ordering for now.) Nearly half of e-commerce consumers — 48% — want more assurance that their transactions are secure, while only 20%Read More

FedEx Gets Deeper Into the Digital Payments Business

FedEx Gets Deeper Into the Digital Payments Business

by April 7, 2016 at 9:31 am 0 comments

Welcome to FedEx, the payments business. Amazon may be taking on FedEx in its core delivery business, but FedEx is also beefing up its competition with Amazon, as well as digital payments companies the world over. In an effort to capture a larger slice of the growing e-commerce market, FedEx re-launchedRead More

Navy Federal Credit Union Joins Bank Innovation INV

Navy Federal Credit Union Joins Bank Innovation INV

by April 5, 2016 at 4:49 pm 1 comment

Bank Innovation INV today announces the addition of Navy Federal Credit Union as a member of Bank Innovation INV, the revolutionary fintech accelerator. INV, which was launched in January, is the first non-geographically specific fintech accelerator open to startups from anywhere in the world. Navy Federal joins Fiserv, Bank Innovation, U.S.Read More