Retail

Want to Build a ‘Buy Button’? Better Write a Check to Amazon

Want to Build a ‘Buy Button’? Better Write a Check to Amazon

by July 28, 2015 at 12:56 pm 0 comments

Stripe just got a heap of cash to work on Buy Buttons with Visa. (And the payment upstart is now worth $5 billion.) Some of that money will make its way to Amazon. Money has a way of drifting over to Amazon, whether through purchases at its store, or web services,Read More

In Spending Mode, Discover’s Direct Bank Expenses Climb 18%

In Spending Mode, Discover’s Direct Bank Expenses Climb 18%

by July 24, 2015 at 11:19 am 0 comments

Discover Financial Services might be the major FI most engaged in spending on information technology today. Which is why it is worth noting that the company claims it is already “seeing good returns associated with those” spending efforts, according to R. Mark Graf, the credit card issuer’s chief executive officer andRead More

Cap One CEO: Digital Is the Centerpiece of Our Agenda

Cap One CEO: Digital Is the Centerpiece of Our Agenda

by July 24, 2015 at 10:44 am 0 comments

It’s become a quarterly ritual: Capital One CEO Richard Fairbank eloquently speaking to the importance of digital banking. We’re not complaining — Fairbank is right, and other bankers should be listening. On yesterday’s earnings call for the McLean, Va.-based bank, Fairbank called digital “a centerpiece of that entire strategic agenda.”Read More

Apple Pay to Hit 1.5 Million Locations by Yearend

Apple Pay to Hit 1.5 Million Locations by Yearend

by July 22, 2015 at 10:45 am 0 comments

Soon, there will be 1.5 million chances for you to bump into Apple Pay. That’s because Apple Pay is expected to be in 1.5 million locations in the United States by the end of 2015. Last week, Apple Pay launched in the United Kingdom, and scored 250,000 locations “on Day One,”Read More

Synchrony Is First to Give Out Apple Pay Transaction Data

Synchrony Is First to Give Out Apple Pay Transaction Data

by July 21, 2015 at 4:40 pm 0 comments

Synchrony Financial, the nation’s largest provider of private-label lending programs, will start providing its clients with deep Apple Pay transaction data. Synchrony appears to be the first issuer that is providing bank-level Apple Pay data to third parties. Synchrony, formed from GE Capital’s private label unit, had $61.4 billion ofRead More

Chase Reboots Online Banking to Resemble Mobile Experience

Chase Reboots Online Banking to Resemble Mobile Experience

by July 20, 2015 at 12:59 pm 2 comments

JPMorgan Chase refreshed its online banking homepage for the first time in three years yesterday. The result looks a lot like the bank’s recently revamped mobile site. All the buzz is around mobile banking these days, but online banking still serves more people. Chase has nearly 40 million online users,Read More

Carl Icahn Was Right About PayPal

Carl Icahn Was Right About PayPal

by July 20, 2015 at 10:42 am 0 comments

Carl Icahn, the activist investor, argued that PayPal was “shrouded by a conglomerate discount.” Today we can say Icahn was right. PayPal started trading today with the ticker PYPL and by midmorning Eastern Time, the company’s market cap neared $47 billion, while eBay, its former parent company, was valued at $34Read More

Share of Digital Sales at Bank of America Hits 60%

Share of Digital Sales at Bank of America Hits 60%

by July 16, 2015 at 11:42 am 0 comments

Bank of America might want to change its name to Digital Bank of America. The Charlotte, N.C., megabank is more digital bank than conventional financial institution today. That’s because 60% of the bank’s “sales” are “all digital now,” Brian T. Moynihan, Chairman and CEO of Bank of America, told investorsRead More

After 5 Years in Subprime, ZestFinance Elbows In to Near-Prime Personal Loans

After 5 Years in Subprime, ZestFinance Elbows In to Near-Prime Personal Loans

by July 16, 2015 at 10:41 am 0 comments

After five years plying the subprime lending sector, ZestFinance is finally moving into near-prime credit for debt consolidation. Known for its Big Data-driven loan underwriting for deep subprime customers, ZestFinance launched a near-prime personal loan product yesterday called Basix. This is just the company’s second direct loan product for consumers. Its first wasRead More

Bank of America Lags Wells, Chase in Mobile User Growth

Bank of America Lags Wells, Chase in Mobile User Growth

by July 15, 2015 at 11:44 am 2 comments

Sometimes adding 5,000 mobile banking customers a day — as Bank of America is doing — just isn’t enough. Bank of America Corp. is increasing mobile users more slowly than rivals JPMorgan Chase and Wells Fargo & Co. The Charlotte, N.C.-based bank announced today that it had 17.6 million mobile usersRead More

Wells Fargo Goes AWOL With Its Mobile Performance Data

Wells Fargo Goes AWOL With Its Mobile Performance Data

by July 15, 2015 at 10:45 am 1 comment

Transparency took a left hook to chin yesterday when Wells Fargo & Co. chose to withhold a crucial piece of its financial data. Specifically, Wells Fargo for the first time in at least two years refused to disclose the exact number of its active mobile banking users. Instead, Wells FargoRead More