According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks, with survey respondents expressing heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
The rise of the Click-and-Mortar shopper in Brazil may give some tailwind to the use of Pix, the instant payment system that became operational in the country in late 2020. The data tell the story as to the platform’s use: As detailed by Brazil’s central bank, the number of Pix monthly transactions has been well over 4 billion, at 4.3 billion as March ended. That compares favorably to the 2.5 billion in March of last year. The central bank’s information also notes that person-to-business transactions in March of this year were 192.5 million, up from 121 million a year ago. Initiation “types” also have seen a shift, as, for instance, dynamic QR codes were 1.4 million in March, up from less than half a million in March of last year. As for the number of users, the bank noted that there were more than 152 million users last month, up from 138 million. 15.4 million companies had signed on and were using the service, up from 12.6 million last year. All told, the Pix transactions outpaced debit and credit transactions by about 23% as noted by sites such as Reuters. About 60% of Pix transactions were made by consumers younger than 40 years old. The younger consumers, then, are among the prime movers of Pix’s gains against more traditional payment methods and channels. And PYMNTS Intelligence data, as spotlighted in the “2024 Global Digital Shopping Index: Brazil Edition,” 48% of shoppers browse and buy across channels, while 38% of individuals are digitally-assisted in-store shoppers. No matter where or when they are shopping, 75% of respondents say a top feature valued in any setting is the ability to use their preferred payment methods. Cutting Across Income Levels Moreover, the Click-and-Mortar report found that the designation accounts for more than 46% of high-income shoppers and peaks for low-income shoppers, with 53% adopting digital shopping strategies. If a majority of shoppers want to transact digitally, and Pix has been used by roughly 80% of the population, it follows that a broad range of individuals across all manner of income levels and demographics would continue to move the needle on instant payments across a variety of use cases. Users do not need bank accounts to pay with Pix — and can, for example, opt for digital wallets. The availability of Pix cross-border should also get some torque through digital and in-store shopping as Brazilian tourists move beyond the home front. As noted earlier this year, Brazilians traveling abroad in in neighboring countries like Argentina and Uruguay can already use Pix to pay for services like restaurants and hotels — and the instant payments system may be connected, more widely, to other instant payment schemes across the world, including in Europe and in Africa. The post Brazil’s Click-and-Mortar™ Shoppers Underpin Pix and Instant Payments Growth appeared first on PYMNTS.com.
Fifth Third Bank saved $15 million in the first quarter, partly driven by deploying automation throughout its operations. “Expenses are well controlled … driven by savings realized through process automation and our focus on value streams,” Chief Executive Tim Spence said during the bank’s first-quarter earnings today. The bank reported noninterest expense, which includes tech […]
The Alabama regional lender says it expects expenses to taper off this year and anticipates challenged loans will gradually rise to historically average levels.
Marqeta, the card issuing platform enabling some of the world’s most innovative embedded finance solutions, announced its new partner Rain.
Finzly has partnered with EverBank to enable a centralized payments process.
Huntington joined mega-banks in growing digital adoption during the first quarter, citing increases in digital and mobile usership and in digital logins.
The post Kaspa & Dogecoin Investors Flock-In as BlockDAG Drops Keynote Teaser on the Moon with an Astounding $18.5M Presale appeared first on Coinpedia Fintech News As the cryptocurrency market buzzes with activity, investors from Kaspa and Dogecoin are turning their attention to BlockDAG, which has just heightened interest with a groundbreaking keynote video teaser from the moon. This innovative marketing move coincides with a remarkable achievement: BlockDAG has amassed $18.5 million in its presale, showcasing its formidable presence in the digital finance realm. The excitement around BlockDAG is not just about its financial success; the platform combines advanced blockchain security with the efficiency of Directed Acyclic Graph (DAG) technology, setting new standards for speed and scalability in the industry. This strategic blend is captivating investors who are looking for the next big opportunity in crypto, making BlockDAG a standout choice as it prepares to reshape the future of decentralised finance. Dogecoin’s Ambitious Market Outlook Dogecoin remains a popular choice among cryptocurrency enthusiasts, with forecasts indicating a significant potential increase in its value. Influenced by a vibrant community and frequent media coverage, analysts suggest that Dogecoin could soon surpass the $0.10 mark. The optimistic year-end target of $0.3392 reflects a mix of speculative momentum and the coin’s cultural resonance, which continues to attract investment. Challenges and Opportunities for Kaspa Kaspa has shown resilience in the face of market fluctuations, maintaining a hopeful outlook among its community for a strong comeback. With aspirations to emulate Bitcoin’s historic rise, Kaspa’s supporters remain enthusiastic despite recent dips. This optimism is underpinned by a strong belief in Kaspa’s long-term value and its capability to rebound with a significant market presence. BlockDAG’s Pioneering Technological Edge BlockDAG is revolutionising the blockchain space with its $18.5 million presale success and the introduction of groundbreaking technologies. Utilising a blend of Directed Acyclic Graph (DAG) and blockchain protocols, BlockDAG ensures unmatched scalability and speed, making it a standout in technological innovation. The advanced PHANTOM protocol and GHOSTDAG algorithm provide robust security features, ensuring each transaction is processed with integrity and reliability. Promising Future Driven by Innovative Strategies BlockDAG’s strategy involves not just superior technology but also active community engagement and strategic market positioning. With over 4550 miners already sold and more than 7.5 billion coins distributed, BlockDAG is quickly establishing itself as a leader in the crypto world. The anticipation of its value reaching $10 post-launch adds to the excitement, underscoring its significant growth potential. A Milestone with the Moon Shot Video The anticipation for BlockDAG’s future is further enhanced by the recent teaser of a keynote video from the moon, a novel marketing move that promises to dramatically increase its market appeal. This initiative is not just a first in the cryptocurrency world but also sets the stage for BlockDAG’s role as a pioneer in market innovation, ready to take the lead in the next evolution of blockchain technology. In Summary As Dogecoin and Kaspa continue to adjust to market trends, BlockDAG distinguishes itself with a record-breaking presale and innovative breakthroughs in crypto technology. The platform’s strategic advancements, coupled with the imminent release of its moon-shot video, position BlockDAG to potentially overshadow its competitors significantly. With its price set to escalate and a strong foundation laid for future growth, BlockDAG is poised to redefine the standards of blockchain technology, promising an exciting future in the digital currency arena. Join BlockDAG Presale Now: Website: https://blockdag.network Presale: https://purchase.blockdag.network Telegram: https://t.me/blockDAGnetworkOfficial Discord: https://discord.gg/Q7BxghMVyu