Venmo Payments

Central Banks, Stablecoins and the Looming War of Currencies - CoinDesk

A flood of competing stablecoins is coming to the global economy, setting the stage for what could be a climactic battle with the world's biggest central banks.

'Youngest Bitcoin Millionaire' Willing to Stake it All on Metal Pay - CoinDesk

With new funding, Metal Pay plans to add traditional banking features.

Venmo Speeds Up Money Transfers. But Will It Be Able to Compete with 'FedNow'?

Popular money transfer service Venmo is polishing its money movement cred today. In a blog post, Venmo claims it will transfer your money in 'minutes.' Venmo states: 'This may sound familiar- and it is. Last year we launched Instant Transfer via debit card, allowing users

Venmo adds Instant Transfer link to bank accounts

As the competition mounts to increase adoption rates for person-to-person payment apps, PayPal's Venmo is adding a way for users to quickly move money from the app to their bank account.

FedNow — US Federal Reserve Payment Tool a Threat to Banks, Not Crypto

U.S. Federal Reserve wants to release a real-time payments and settlements service in order to boost the country’s infrastructure. Experts ask: Why not use crypto?

Rewards app Ibotta closes Series D round, in talks with ‘large banks’

Ibotta, a seven-year-old cashback rewards app, has raised an undisclosed amount of Series D funding, led by Koch Disruptive Technologies, at a $1 billion

Federal Reserve reveals real-time payment system plans

FedNow will be available to all US-based banks by 2024.

From Ghana to the Bronx, Meet the Teen Bitcoiners Building the Future - CoinDesk

From experimenting with zcash in the Bronx to rogue bitcoin contributors, these teens are shaping the future of cryptocurrency.

Should Financial Institutions Change During Times of Prosperity?

During times of financial prosperity, it is important for financial institutions to invest in the digital transformation needed to succeed in the future.

Why Remaining Demographic Agnostic Is Vital For Fintech In Payments Convergence

While certain behaviors are being impacted by payments convergence, don’t bet the house that all consumer and business payment behaviors will change quickly.

People in US Trust Bitcoin More Than Facebook's Libra: Report - CoinDesk

Compared with bitcoin, people in the U.S. don't trust Facebook's anticipated new stablecoin Libra, according to a new survey.

Zelle payment volumes jump by 57% year over year | Bank Innovation | Bank Innovation

While sending funds through Venmo is so common it's a verb, bank-backed peer-to-peer payments tool Zelle is quickly picking up adoption. On Tuesday, Early

Focus on what’s important – and leave the rest to us

Sponsored: Smartstream’s platform takes the operational & regulatory responsibility of payments off your back.

Kristina Yee (YC ’89), Marketing Strategist for Blockchain, FinTech, AML, RPA, Fraud, and Cybersecurity

Kristina Yee is a consultant at M4 Associates, providing market research, product strategy, and competitive analysis to clients including BMC, ChangeTip, GigaOM, Economist Intelligence Unit, Lunyr, and Nova.ai. She previously worked as a senior analyst for Aite Group, focusing on cybersecurity, fraud, identity management, RPA, AML, cloud computing services and infrastructure, cryptocurrency, and blockchain. In…

Bitcoin Below $10,000, Down 26.6% in 7 Days: What Caused the Pullback?

The price of Bitcoin has dropped below $10,000 in a sharp pullback. Analysts discuss where the market is headling and the factors of the drop.

First-Rate Mobile Apps Mean More to Consumers Than In-Person Banking

Strong preference for good banking apps, plus tepid branch interest, heightens need for digital transformation among banks and credit unions.

VibePay wants to build a safer version of Venmo and Zelle for UK customers | Bank Innovation | Bank Innovation

Vibepay, a peer-to-peer payments app that recently received regulatory approval to operate in the U.K., wants to build a more secure version of popular P2P apps

As Deutsche Bank retreats from the US, a German fintech is launching there

N26 aims to become a global technology giant, more like Spotify or Netflix than a traditional bank.

How BankMobile Uses Artificial Intelligence to Streamline Key Functions

Mobile banking pioneer's leader says it's time banks and credit unions bypass AI paranoia and bring consumers the benefits of this technology.

Savings app Digit is focusing its growth strategy on Gen Z | Bank Innovation | Bank Innovation

Savings app Digit is pinning its hopes on millennial and Gen Z customers who are storing up funds for a rainy day. "We serve a pretty diverse population

Challenger bank Current launches anti-overdraft product

The company has created GoFundMe-like pages for users to petition friends and family to help them pay the charges assessed by banks.

Visa and PayPal’s new deal

While the US service is powered via a partnership with JPMorgan Chase, PayPal’s Instant Transfer in Canada is powered by Visa’s push payments system, Visa Direct.

Generation Z is the new battleground for challenger banks | Bank Innovation | Bank Innovation

A new breed of banking startups wants to lock in customers while they're in high school and college. As the ecosystem of millennial-focused challenger banks

Visa and PayPal's New Deal - Finovate

Just one day shy of Canada day, Visa and PayPal inked a deal to enable Canadian consumers to instantly access funds via Instant Transfer, a tool PayPal launched in the U.S. earlier this year. While the U.S. service is powered via a partnership with JPMorgan Chase, PayPal’s Instant Transfer in Canada is powered by Visa’s Read more...

Are states up to the task of regulating Facebook?

Facebook’s plan to launch a cryptocurrency has raised concerns that state banking regulators may not be equipped to oversee large, international companies.

Are You Choosing Fintech—or Is Fintech Choosing You? | ABA Banking Journal

Risk management and compliance considerations along the path of banking innovation.

We Must Stop Paving Over Aging Payment Pipes

I—like many of you, I’m sure—live in a city and state with rapidly deteriorating infrastructure. My ride to work each day is punctuated with potholes that I have memorized through my

Why BofA is making it easier to use other companies' mobile wallets

By creating a close tie between digital debit cards and the major third-party mobile wallets, Bank of America is doing something few banks are — and expecting a payoff in broader use of digital financial services and “top of wallet” spending.

Fintech Unicorn & Stealth Bank TransferWise Launches Debit Mastercard in the U.S.

Fintech Unicorn and stealth bank Transferwise announced on Tuesday it has launched its debit Mastercard in the U.S.  It was revealed that TransferWise debit Mastercard was built specifically for people 'without borders.' TransferWire further explained: 'The TransferWise debit Mastercard can be up to 4x cheaper

Morningstar sees a risk to money transfer services from Libra | Bank Innovation | Bank Innovation

While Facebook's cryptocurrency Libra faces regulatory challenges, its potential to upend some legacy payment providers merits consideration, according to a

Many Banks Don't Understand The Need For Digital Transformation

The majority of traditional banking organizations continue to be slow to respond to digital competitors. Misleading metrics don't help.

Morningstar sees a risk to money transfer services from Libra | Bank Innovation | Bank Innovation

While Facebook's cryptocurrency Libra faces regulatory challenges, its potential to upend some legacy payment providers merits consideration, according to a

Facebook’s Libra looks and smells like a cryptocurrency, but it really isn’t

Last week our theme was “The FOMO crowd is back in town. Will Bitcoin have a blockbuster comeback?”. Our theme for this week is “Facebook’s Libra looks and smells like a cryptocurrency, but i…

Many Banks Don't Understand The Need For Digital Transformation

The majority of traditional banking organizations continue to be slow to respond to digital competitors. Misleading metrics don't help.

Facebook's Crypto Libra is a Huge Deal - Just Not for the Reason you Think

With the release of its whitepaper, Facebook officially announced its cryptocurrency, Libra, to substantial coverage this week.

What Is Libra? Breaking Down Facebook’s New Digital Currency

Facebook’s newly announced cryptocurrency could shake up the industry and bring mainstream recognition to blockchain.

Roll Wants to Take Power From YouTube With Cryptos for Content Creators - CoinDesk

"Social money" startup Roll raised a $1.7 million seed round from BitMEX CEO Arthur Hayes, Gary Vaynerchuk and Techstars.

Why Retail Bankers Should Care About Facebook's 'Libra' Cryptocurrency

Facebook's Libra may be just another cryptocurrency, but the integration with digital wallet Calibra may be the real threat to banks.

Watch Facebook's Libra Videos: An Inside Look At the Calibra Wallet - CoinDesk

Facebook provider primers for folks not quite up on their blockchain tech. Here are a few of the best.

Facebook's Libra Cryptocurrency Is the Future of Fintech

Whereas it’s taken bitcoin years since its inception to break into the public consciousness, Facebook's Libra has the benefit of being made available on a massive social media platform that boasts as many as 2.4 billion users worldwide.

Watch Facebook's Libra Videos: An Inside Look At the Calibra Wallet - CoinDesk

Facebook provider primers for folks not quite up on their blockchain tech. Here are a few of the best.

Facebook's Cryptocurrency Wants to Take on Banks, Not Bitcoin - CoinDesk

If bitcoin doesn't need to worry about competition from Facebook. Who does? You've guessed it, the banks.

Facebook Wants to Take on Banks, Not Bitcoin | The Fintech Times

Facebook is creating its own cryptocurrency something that even those of us necking the crypto cool aid back in the early Bitcoin days never in our

| PYMNTS.com

Are B2B payments ready for real-time speed? Bottomline Technologies’ Vice President of Product Management and Strategic Solutions Jessica Cheney explains how Zelle and P2P have helped set the stage for faster payments between corporates, cutting down on paper and manual tasks.

Tech-First Bank Has Zero Tolerance For Customer Pain Points

Niche bank aims to serve digital entrepreneurs with high-tech, low-cost solutions that make banking bearable again.

Tech-First Bank Has Zero Tolerance For Customer Pain Points

Niche bank aims to serve digital entrepreneurs with high-tech, low-cost solutions that make banking bearable again.

Banks Feeling The Heat Over Fintech Partners’ Cyber Risks - Law360

Consumers’ shift to online banking has drawn the watchful eye of regulators and put pressure on financial institutions to make sure they’re not left exposed to data security problems by the vendors they rely on to develop apps and services.

Circle Is Closing Its Mobile App, Circle Pay, This September - CoinDesk

Circle Pay, an early flagship product for Circle, is being shut down as the company focuses on its USDC stablecoin.

UK fintech darling Monzo will try its luck in the US

The digital bank has big ambitions, and plenty of competition.

Square's Cash app downloads exceed Venmo's in May | Bank Innovation | Bank Innovation

The peer-to-peer payments race is now more than a duel between bank-backed Zelle and Paypal-owned Venmo. According to a report released Thursday from Nomura

U.K. challenger bank Monzo aims for U.S. charter in broad stateside push

Monzo has been adding roughly 200,000 users a month in the U.K., and is hoping to replicate that success as it launches in the U.S.

How India's war on cash is paying off for foreign fintech investors

India’s government has taken drastic steps to encourage and standardize digital transactions, and those moves appear to be paying off.

FinTech Could Make Big Bank for These Two Stocks (and You)

Digital banks may be the future, but the banks will still be the banks. The FinTech companies that make it big will be those that partner with the banking industry, like these...

Finding Fintech - Gifts & Decorative Accessories

Family funds, bank loans, credit cards — where do you turn for money to finance your inventory?  These have long been the big three sources of financing for independent retailers.  In fact, many of us haven’t ever heard of fintech.  The term (short for financial technology) refers to companies providing financial services to businesses using …

Fintech Focus Rewind: What Does Venmo's First Investor Think Is Missing In Fintech?

The Fintech Focus Rewind is a recurring feature in which we revisit previous episodes of Benzinga's Fintech Focus Podcast. To get the Fintech Focus delivered to your inbox weekly, subscribe to the Fintech Focus newsletter. Don’t forget to check out upcoming programming at Benzinga events.

Uber is assembling a fintech team in New York City

Uber is reportedly hiring several dozen engineers and product managers in New York to assemble a fintech team.

Former Senator Rick Santorum Backing 'Cathio' Cryptocurrency and Payments Venture

The boutique in the church basement and the collection basket will soon get their own private crypto network to compete for the hearts and minds of faithful millennial where apps like Venmo have failed them. Rick Santorum, two-time Republican presidential candidate, 'Grateful husband, blessed dad

Commercial banks are joining the API revolution

Ultimately, the power of APIs is not in the technology but in the vision behind that technology.

Is BofA's Surging Digital Assistant a Turning Point for Retail Banking?

The bank's digital assistant, Erica, is growing rapidly, especially since adding proactive insights. But analysts hedge on calling it a win.

Fintech and Blockchain in Montauk—a Countdown: The Ledger

The leading edge of finance and technology.

The Fintech Fast-Follower Fallacy

A lot of financial institutions think they're "fast followers" when it comes to fintech. Most are just deceiving themselves.

Fashion Fintech Is on Fire

There’s no cooling the financial technology services industry, as payments spark $1.9 trillion in global annual revenue.

Alternative Lenders Continue to Steal Business From Banks

Banks and credit unions are at risk of losing small business customers if they can't provide easy and fast borrowing options.

Plaid launched in the UK

Following the acquisition of Quovo in a $200m deal.

Step and Kard target teen market for banking

Both banking apps have launched their waiting lists.

How to Elevate Bank Business Marketing to Starting Lineup

Rarely a high priority, business marketing can yield big results. Practical advice for financial marketers to improve B2B performance.

Telegram-Based Crypto Wallet App Now Allows Fiat Purchases - CoinDesk

Button Wallet, an app that puts a crypto wallet inside your Telegram account, is adding a fiat on-ramp in a partnership with Wyre.

A Silicon Valley fintech is looking to supercharge access to financial data for UK startups

Plaid says there's been a "sea change" in its relationship with big banks, which started out rocky in the US.

3 Payment Innovation Trends That Will Evolve E-Commerce

E-commerce is growing rapidly, with worldwide sales anticipated to be $4 trillion in 2020. The evolution in e-commerce can be partially credited to the developments within financial technology. Let’s look at three Fintech trends that will continue to evolve the e-commerce industry.

Bitcoin, Crypto and Fintech Loom As Banking Insider Spells Out Threat | The Daily Hodl

Fintech solutions, new payment rails and the rapid pace at which the financial sector is changing is putting massive pressure on the incumbents, and Jim Aramanda is urging the banking industry to move as fast as it can to stay competitive in the digital economy. Speaking at the American Bankers Association Payments Forum in Washington, …

JPM takes stand against opiods; Deutsche board clings to seats

JPMorgan tells OxyContin maker to take its business elsewhere; reelection tallies are smaller than last year’s.

Early adopter: Clearing House real-time payments lands first small bank

Avidia Bank joins the network even as other community banks call on the Fed to create its own real-time payment service to compete.

Plaid gives digital banks and fintech a new tool to bypass traditional finance

It just got slightly easier for customers using popular finance apps to link up to a digital bank instead of traditional ones.

Plaid gives digital banks and fintech a new tool to bypass traditional finance

It just got slightly easier for customers using popular finance apps to link up to a digital bank instead of traditional ones.

Facing Fintech Disruption Starts With An Agile Finance Department

Organizational agility can help chief financial officers successfully navigate current digital transformations.

Moving From Digital Banking To Embedded Experiences

Reimagining banking around proactive advice and product recommendations based on consumer behavior and lifestyles can up the industry's game.

The Best Fintech Stocks to Buy in 2019 and Beyond

Fintech is transforming the financial industry from the inside out, and there will be lots of winners and losers. Before you invest, know these basic guidelines to this growing industry.

| PYMNTS.com

Can Bitcoin Win the Digital Payments 'Gauge War'? - CoinDesk

Bitcoin could learn a lesson from the railways, says Simon Johnson: For the customer, it’s just about getting from A to B fastest and cheapest.

PayPal Tests Incentives to Bolster Venmo Debit Card Adoption | Bank Innovation | Bank Innovation

PayPal is using cashback incentives to grow its Venmo debit card user base, an anchor that could help the company monetize Venmo over the longer term. This

Northeastern University launches a student group to pursue startup ideas in the field of financial technology

Northeastern University's official news source

Synchrony appoints executive to oversee venture investments, M&A

Brian Doubles, who had been chief financial officer, will continue to report to CEO Margaret Keane in the newly created role.

Synchrony appoints executive to oversee venture investments, M&A

Brian Doubles, who had been chief financial officer, will continue to report to CEO Margaret Keane in the newly created role.

Millionaire Teenage Rapper Lil Pump is Selling Merchandise for Bitcoin

By CCN.com: One of the most famous rappers to break into the industry without a hand up from another rapper, who went straight from SoundCloud to multi-platinum certification by the RIAA, Lil Pump, whose hit

Venmo Revenue Growth Exceeds Analysts' Predictions for Q1 | Bank Innovation | Bank Innovation

PayPal's P2P service Venmo has exceeded analysts' first-quarter estimates in two key areas: annual revenue run rate and number of users, according to statements

Could graph technology reduce the risk of another economic collapse?

The unprecedented in-depth analysis enabled by graph analytics can produce risk warnings faster and better than was possible ten years ago.

Banks seek looser hiring rules; PayPal eyes Venmo for credit card

Banks say easing rules on people with some criminal records will diversify the applicant pool; deal with Synchrony may be near.

Riding the Korea FinTech Wave

In stark comparison to how technologically advanced South Korea is (say for instance, introducing th...

M&A, pot banking and more reg relief: What's on the minds of midsize bank CEOs

In a roundtable discussion, the heads of four banks called on Congress to move on CRA modernization and address the cannabis conundrum, while dismissing arguments that midsize banks need to merge to stay competitive.

At IMF Spring Meetings, JP Morgan Rep Says JPM Coin Could Streamline KYC/AML

The IMF’s Christine Lagarde hosted a panel discussion on 'Payments in the Digital Age' at the IMF's Spring Meetings held this week in Washington, DC. A video of the panel is provided by CNBC international TV and can be viewed here. Panelists included the ECB’s

Christine Lagarde Pits Circle Against JPMorgan in IMF Debate - CoinDesk

Decentralized systems are coming for the banks, argued Circle CEO Jeremy Allaire, in a panel Wednesday at the International Monetary Fund.

App from Simple co-founder builds bridges from banks to blockchains

Shamir Karkal’s startup, Sila, is launching an API platform that gives developers a way to connect traditional bank systems to distributed ledgers like Ethereum.

Max Levchin's Affirm Raises $300 Million Series F

Affirm, a Fintech founded by vaunted entrepreneur Max Levchin, has raised a $300 million series F funding. To date, Affirm has raised over $800 million in equity funding. The round was led by Thrive Capital and involved several new investors including Fidelity Management and Research

Affirm raises $300m

Affirm, the financial technology company founded by entrepreneur Max Levchin to provide honest financial products that improve lives, today announced it has raised a $300 million series F round of funding.

PayPal Makes Its First-Ever Investment in a Blockchain Startup - CoinDesk

Online payments giant PayPal has taken a stake in Cambridge Blockchain – its first investment in the blockchain space.

9 Technology Changes Impacting the Consumer Experience in Finance Today

New innovations in technology are allowing financial institutions to serve customers in novel and u

JPMorgan's clampdown on data puts Silicon Valley apps on alert

Long-simmering tensions between the financial industry and Silicon Valley startups are erupting behind-the-scenes into a battle over the reams of valuable data held inside Americans' bank accounts.

How banks are thwarting rogue traders; CFTC relaxes bank hedging rules

Artificial intelligence lets banks predict employee misconduct; banks will get more flexibility on how they count rate swaps.

How much does P2P drive engagement for banks?

The market for P2P payments is finally taking off after years of false starts, but there are still many unanswered questions. The biggest one: How do banks get value out of offering this service free of charge?

I Got the Mark of the Beast – And It Will Hold My Bitcoin - CoinDesk

There's a lot of overlap between bitcoiners and body hackers. CoinDesk editor Bailey Reutzel traveled to Austin, Texas to explore that crossroads and become a bitcoin holding (literally) cyborg.

The battle for real-time payments dominance in the U.S.

Since Fed catalysed the private sector to deliver real-time payment capabilities, there has been adv...

Banks battle fintechs over installment sales; Barclays deck cleared

Banks moving past traditional card lending to compete on POS; ; five board members plan to leave before the bank’s May meeting.

Bitcoin is ‘Potentially Disruptive’ to PayPal & Visa: Analyst

Bitcoin or another cryptocurrency won't supplant PayPal and credit cards as payment options yet, but they could in due time. That's the assessment of Lisa Ellis, an equity analyst with sell-side research firm MoffettNathanson. “Cryptocurrency systems (e.g.,

Is Consumer Choice as Much a Factor as Speed in Payments Innovation? | Bank Innovation | Bank Innovation

Ingo Money CEO Drew Edwards said instant availability and usability of funds is all but expected across the payments space these days, thanks largely to the

Trust Wallet, Official Mobile Wallet of Cryptocurrency Exchange Binance, Joins Foundation for Interwallet Operability

The Foundation for Interwallet Operability (FIO) and FIO Protocol, an inter-wallet operability protocol that makes it easier to move tokens and coins, has announced that Trust Wallet, the official mobile wallet of cryptocurrency exchange Binance, has joined the Foundation. Trust Wallet was acquired by Binance

Binance's Crypto Winter Strategy: Build and Beef Up Partnerships - CoinDesk

Binance is playing the long-game – investing in infrastructure and collaboration across the crypto ecosystem.

Venmo's Instant Cashout Option to Create Revenue for PayPal in 2019 | Bank Innovation | Bank Innovation

PayPal finally anticipates monetizing Venmo in 2019, nearly six years after acquiring the P2P service. Venmo's revenue run-rate is over $200 million for 2019,

Blockchain, DLTs, and a Lot of Crypto-Bashing: Main Takeaways From Davos WEF

Recap of this year’s World Economic Forum (WEF) Annual Meeting.

Bank-backed P2P payments app Zelle reports strong take-up

US bank-backed P2P payments app Zelle gathered momentum in 2018, with users making 433 million transactions worth $119 billion.

PayPal CEO Shades Bitcoin: 'We're Not Seeing Many Retailers Accept Cryptocurrencies'

PayPal CEO Dan Schulman is skeptical about merchant adoption of bitcoin, saying there are very few retailers that accept cryptocurrencies of any kind.

What the 'Marie Kondo Effect' Could Mean for Standalone Fintech Apps | Bank Innovation | Bank Innovation

People are trying to declutter their phones as well as their homes -- is this a problem for standalone apps like PayPal-owned Venmo? "I don't need Venmo when I

Logging In to Your Bank Account Is Now a $3 Billion Business | Bank Innovation | Bank Innovation

When you link your checking account to Venmo or use it to buy Bitcoins, a startup called Plaid Inc. is likely facilitating the connection with your bank. You

Bank data sharing startup Plaid moves into wealth management through Quovo acquisition

Plaid, a US startup that links consumer bank accounts with fintech apps like Venmo and Coinbase, is widening its reach through the $200 million acquisition of Quovo, which delivers a similar service but with a focus on wealth management and brokerage data.

Millennials Using Phone Payment Apps Make Worse Money Decisions

Mobile payments is one of the hottest sectors in Fintech. Venmo and Square/CashApp have battled for years over the hearts and minds of millennials, with CashApp recently declaring victory- thanks in part, some say, to its pioneering incorporation of Bitcoin trading into the app. In May,

Fintech Predictions for 2019. Where We Have Been & Where We Are Going

As we head into a market correction, 2019 and beyond will be very interesting for the evolving Fintech industry. This sector of finance saw significant M&A activity and massive fundraising during the 2nd half of 2018 and I predict that we will see more of

Stable Times at Circle: A Crypto Startup Counted Out Is Rebuilt and Riding High - CoinDesk

CoinDesk profiles Jeremy Allaire, the CEO of the Goldman Sachs-backed crypto startup Circle that had a banner year in 2018.

2018 Was the Reality Check. 2019 Starts the Crypto Comeback - CoinDesk

Micah Winkelspecht is CEO and founder of Gem, a crypto portfolio app company based in Los Angeles, The following is an exclusive contribution to CoinDesk’s 2018 Year in Review.  If 2017 was the year of irrational exuberance, 2018 became the year of reality checks when the market sputtered and crashed. I predict that this year will …

Bitcoin-Friendly Payment Company Square Named Yahoo Finance Company of the Year

Square, providers of distinctive white-plastic and user-friendly mobile payments hardware as well as North America’s most popular (Bitcoin-friendly) peer-to-peer payment app, Cash App, have crowned a banner year by being declared Yahoo Finance's 2018 Company of the Year, Yahoo reports. First, there was the stock’s

Fintech in 2019? Predictions for Crowdfunding, Open Banking, SMEs, Regulations & More….

'Tis the season for decking halls, lighting candles, spending time with family and friends, reflecting on 2018 and thinking ahead to 2019 and new trends in the global Fintech market. Crowdfund Insider reached out to the Fintech community members to look into their crystal balls

Could Square be the first global small business bank?

Late last week we learned Square was back for round two of its banking licence application. The company was reported to be reapplying for the license, after withdrawing its initial application earl…

Temenos Banking Software Selected by PayPal

Digital payment platform and online lender PayPal (NASDAQ: PYPL)  has selected Temenos (SIX: TEMN) to provide digital banking services. The announcement by Temenos was buried in a brief release last Friday. Temenos stated: 'PayPal, Inc. has selected Temenos T24 Core Banking. The Temenos T24 banking platform will run

4 Fintech Predictions For The New Year

Next year is expected to be another good year for fintechs as insuretech goes mainstream, online lenders white label products and peer-to-peer payment platforms explode.

In-car commerce startup Cargo adds Venmo payment option

Cargo, the leading provider of in-car commerce to the rideshare economy, announced a partnership with Venmo to integrate the popular peer-to-peer payment option into the Cargo platform.

Retailers Team With Providers For Payments | PYMNTS.com

Online shopping is on a tear, and marketplaces are reaping the rewards. Some sites are seeing more active buyers and higher gross merchandise sales (GMS) as consumers look to buy all sorts of items from merchants and creators. Etsy, for instance, recently noted that active buyers on the site grew by 17 percent to reach […]

Blockchain Wunderkinds Headline Forbes 30-Under-30 List

The blockchain and cryptocurrency ecosystem is well represented in this year's Forbes 30-Under-30 list, with four young founders and CEOs aged between 25 and 28 featured for their work on crypto finance, blockchain scaling and crypto asset management.

Why Comparing Bitcoin with Centralized Systems Based on TPS is Wrong

On the Bitcoin network, whether it is a transaction worth $100 or $1 million, it costs the same miner’s fee to process the payment.

ModoPayments On 'Auth Shopping' For Merchants | PYMNTS.com

Decline rates are on the rise, reaching 30 percent of CNP transactions, depending on where one looks. Bruce Parker, CEO of ModoPayments, said that’s a bit of a black box and plumbing issue, where going “auth shopping” might help boost conversion rates. A marketplace model among payment services, too, may open up a whole new eCommerce world for merchants.

Banks won't survive the next 20 years – and it's not because of the economy

Wiktor Schmidt, the founder and CEO of Netguru, argues that banks will fail, not because of the economy, but because they can't attract and retain developer talent.

Do Community Banks Really Need Zelle? | Bank Innovation | Bank Innovation

Bank-backed payment service Zelle crossed $32 billion in transactions in the last quarter, almost twice that of Venmo, but the P2P provider is not as

Bank Top-Line Risks Rise As FinTech Firms Boom | PYMNTS.com

FinTech and new FI players are grabbing a large slice of the banking revenue pie across the globe, says Accenture. In at least one market, though (the U.K.), smaller firms are putting their trust, and funds, with traditional high-street banks.

Bitcoin's White Paper Was a Model T for Payments - CoinDesk

The Model T democratized the car industry – and the bitcoin white paper did the same for payments, says Ripple's top technologist, David Schwartz.

Bitcoin's White Paper Was a Model T for Payments - CoinDesk

The Model T democratized the car industry – and the bitcoin white paper did the same for payments, says Ripple's top technologist, David Schwartz.

Zelle Outpacing Venmo in P2P Money Transfers | Bank Innovation | Bank Innovation

Two peer-to-peer payments platforms competing for market share and consumer loyalty posted big gains in their 3Q18 earnings reports. While the third quarter was

Glimpse Into the Future: What Banking Looks Like 10 Years From Now

Traditional banking providers must look further ahead than just a year or two out before the window for transformational change closes.

JPMorgan, Plaid Announce Data Sharing Deal | PYMNTS.com

JPMorgan Chase & Co. has inked a data sharing deal with Plaid Technologies, the FinTech that connects banks with financial technology applications. Bloomberg, citing the companies, reported that under the deal, Plaid Technologies will let customers more easily send banking data to third-party apps for managing their finances. Plaid will be able to access JPMorgan customer data via […]

JPMorgan, Plaid Announce Data Sharing Deal | PYMNTS.com

JPMorgan Chase & Co. has inked a data sharing deal with Plaid Technologies, the FinTech that connects banks with financial technology applications. Bloomberg, citing the companies, reported that under the deal, Plaid Technologies will let customers more easily send banking data to third-party apps for managing their finances. Plaid will be able to access JPMorgan customer data via […]

Money20/20 Day Two: The trade-off between banking innovation and financial security

Feedzai CEO Nuno Sebastião opened day two of Money20/20 in Las Vegas with an educated discussion about emerging technology, financial crime and how banking executives are changing their attitude towards fraud.

Money20/20 Day Two: The trade-off between banking innovation and financial security

Feedzai CEO Nuno Sebastião opened day two of Money20/20 in Las Vegas with an educated discussion about emerging technology, financial crime and how banking executives are changing their attitude towards fraud.

What China's Cashless Revolution Can Teach the West About Crypto - CoinDesk

China appears to have achieved the crypto community's dream of a new internet of value, without blockchain. But there's more than meets than eye here.

PayPal Shares Jump On Positive Earnings News | PYMNTS.com

Following a third-quarter earnings and revenue beat as well as a strong quarter for Venmo, shares of PayPal jumped 9 percent on Friday (Oct. 19). The stock reached highs over $86, CNBC reported. The total payment volumes of Venmo skyrocketed by 78 percent and reached $17 billion. And nearly a quarter – or 24 percent of […]

Plaid, the fintech startup that quietly powers tech behemoths like Robinhood, Venmo, and Coinbase, is seeking funding at a $2 billion valuation

BI PRIME: In April this year, Forbes reported that the company's private valuation was $1 billion — meaning that Plaid, which counts 10,000 banks as its customers, has doubled its valuation in less than six months.

American Express Expands Strategic Partnership With PayPal

American Express (NYSE: AXP) announced on Thursday it has expanded its strategic partnership with PayPal (NASDAQ: PYPL). According to the duo, this partnership that will improve the digital payments experience for U.S. American Express Card Members paying with PayPal and Venmo. Through the partnership, the companies

American Express and PayPal partner for loyalty spending and P2P transfers

American Express (NYSE: AXP) and PayPal (NASDAQ: PYPL), today announced an expanded strategic partnership that will improve the digital payments experience for U.S. American Express Card Members paying with PayPal and Venmo.

PayPal posts strong quarter

Earlier today, PayPal released the financial and operating results from our third quarter.

Amex, PayPal Pair On Rewards, P2P Transactions | PYMNTS.com

American Express and PayPal have announced a partnership that will improve the P2P digital payments experience for U.S. American Express Card Members paying with PayPal and Venmo. According to a press release, the companies will collaborate on several solutions for joint customers such as the use of Amex rewards program points, as well as explore […]

Amex, PayPal Pair On Rewards, P2P Transactions | PYMNTS.com

American Express and PayPal have announced a partnership that will improve the P2P digital payments experience for U.S. American Express Card Members paying with PayPal and Venmo. According to a press release, the companies will collaborate on several solutions for joint customers such as the use of Amex rewards program points, as well as explore […]

Report: PayPal Conquered Q3 with High Earnings, ‘Record’ Number of New Users

PayPal smashed through expectations for earnings and revenue in Q3. The company also boasts millions of new users and increased payments volume.

Omni Rentals Lets Users Cash out Earnings in XRP - NullTX

Many people consider Ripple’s XRP to be a security or a digital asset, rather than something consumers can benefit from. In the case of Omni, a project focusing on revamping ways to own and access things, XRP support has been integrated as a cash-out feature. Omni Sees Merit in XRP For those unaware of the…

On Cloud Nine - How Banks Can Master the Challenge of Digitalization

Today, banks are facing many challenges, not just high fees and lack of transparency, but competitio...

Cayenne Offers Daily Deals on Menswear Brands | PYMNTS.com

Small menswear brands, even some that are considered to be medium or large, might face a challenge when it comes to marketing: How do they get in front of consumers? Michael Sacks, who co-founded Cayenne, settled on a Woot-like deal-of-the-day platform to enable these brands to put their clothing or accessories up for sale over […]

Venmo Hikes Instant Transfer Fee to Cash in on Realtime | Bank Innovation | Bank Innovation

Remember when P2P app Venmo added an instant transfer, but then said it would charge a $0.25 flat fee for it? Well, now Venmo users will be charged a 1% fee,

Nouriel “Dr. Doom” Roubini: “99 Percent of Cryptocurrencies are Worth Zero”

An interview with Mr. Roubini about “buggy” smart contracts, Ethereum being a scam, why he might want to give the industry another try

Instant Transfer Venmo Fees Increase | PYMNTS.com

Venmo, the digital payment unit of PayPal, has raised the fee for instant transfers when moving money from their account to a traditional bank account, according to reports. Reports citing an email Venmo sent to users late last week said the fee is going up to one percent of the transferred amount, with the payment company […]

Nouriel “Dr. Doom” Roubini: “99 Percent of Cryptocurrencies are Worth Zero”

An interview with Mr. Roubini about “buggy” smart contracts, Ethereum being a scam, why he might want to give the industry another try

6 Cryptocurrencies With Cheaper Transaction Fees Than Venmo - NullTX

In the financial industry, transaction fees are always considered to be a very big problem. Although Venmo always had relatively low transaction fees, that has now come to change. The company will charge a flat 1% on all amounts, which makes the following six cryptocurrencies a lot cheaper to use. #6 Bitcoin Most people will …

An Acquisition In Store For Snapchat? | PYMNTS.com

Snapchat, according to recent reports, is having cash flow troubles. The app that got famous for its disappearing messages is looking like it will either need to raise a some capital by sometime in 2019 or run the risk of going broke, according to a note by MoffettNathanson. “While it is obvious that Snap wasn’t prepared for life […]

3 Reasons Why No One Should Use Zelle to Buy or Sell Cryptocurrencies - NullTX

Although peer-to-peer trading has gained a lot of popularity in the cryptocurrency industry, there are still certain risks users need to be aware of at all times. Using Zelle, for example, appears to be a bad idea. Not because of the platform itself, but because of their policies. The following three reasons show why using …

Currencies Direct Chief Market Analyst Talks Legacies, Challengers and Market Disruption | The Fintech Times

Fintechs use emerging technologies to disrupt existing financial services and it’s clear that they’re here to cause waves in the financial sector.

Millennials Prefer Venmo to Cash, Duh | Bank Innovation | Bank Innovation

A new report shows that millennials use Venmo more than they use ATMs as if there was any doubt that to this audience an app like Venmo is a prime method of

5 Fintech Trends You Should Be Paying Attention To | Bankrate.com

Technology is redefining financial services. These are the biggest trends that could affect you.

5 Fintech Trends You Should Be Paying Attention To | Bankrate.com

Technology is redefining financial services. These are the biggest trends that could affect you.

Food Delivery Firms Battle For Hungry Consumers | PYMNTS.com

Food delivery is moving into a higher realm, one that is about much more than ordering up a meal via a mobile app. Subscriptions are winning over hungry consumers. Local focus is entering the mix. Drones are getting involved. And big money is flowing as competitors seek to differentiate themselves in the $13 billion food […]

SWIFT Pre-Validates, Singapore Eyes QR Codes | PYMNTS.com

Amid an embrace of mobile payments and a push toward consumer choice, sometimes payments infrastructure must change. This week, the Monetary Authority of Singapore said it has launched SGQR (short for the Singapore Quick Response Code), billed as a single label that combines several QR payment codes. The launch will cover Singapore over the next […]

Social investing app Matador scores $2m seed funding

Matador, a social investing platform bidding to make the stock market more approachable to young Americans, has raised $2 million in a seed funding round led by VC GreyCroft.

PayPal Smart Buttons Goes Global | PYMNTS.com

Two and a half months ago, PayPal launched Smart Buttons in the U.S. as a way to improve the checkout experience for both merchants and consumers. PayPal made its “Buy Button” smarter by dynamically presenting consumers with the most relevant payment method at checkout — saving them time. Smart Buttons also gave merchants more of […]

PayPal releases Funds Now for small businesses

Small businesses are the heart and engine of our economy. They are drivers of innovation, competition, diversity, economic opportunity, job creation and the overall health of our communities.

Congressional Hearings Discuss Digital Privacy | PYMNTS.com

Top executives from Twitter and Facebook sought to reassure U.S. lawmakers on Wednesday (Sept. 5) that they can better protect users from election interference from foreign sources as the November midterms approach. The move comes amid increasing global focus on matters related to online privacy and data security — and as the idea of regulating […]

3 Ways Digital Assistants Can Turn 'Selling' into 'Advising'

The combination of data, digital technology and advanced analytics can turn selling into advising for the banking industry.

The Problem with Banking Today … is Banking

The idea of banking has been around for thousands of years. Archaeologists traced its origins back to ancient Mesopotamia, where tablets show that individuals recorded lending transactions. Then, as civilization created value for items like grain, rare jewels and, eventually, coinage and cash, banking practices

Bitcoin's Next Big Software Upgrade to Feature New Language for Crypto Keys - CoinDesk

A new version of Bitcoin Core is coming, including a new key language and more. CoinDesk assembles the earliest and most interesting details.

Dr. Doom On The Future Of Money At BlockShow Americas | The Fintech Times

Nouriel Roubini earned the title of Dr. Doom when he correctly predicted the 2008 global financial crisis and became the perennial bear. More recently he made news cryptobrawling with VoIP pioneer Alex Mashinsky at the Milken Institute on the future of money.

Perspective: Student Loans Have Failed American Students, What About Income Share Agreements?

Student loans have failed American students is an understatement. American’s owe $1.4 trillion in student loan debt spread out among 44 million borrowers. With delinquency rate of student loans at 11.2%, the country is looking at a repeat of the mortgage crisis.  But what is

Venmo Might Get Rid Of Public Posts for Privacy | PYMNTS.com

Executives at PayPal are deciding whether they should remove the option to post and view public transactions on Venmo. According to Bloomberg, an anonymous source said that regardless of what is decided, payments between friends would still be visible on the home feed. “Venmo is always evaluating what’s best for our customers,” a PayPal spokesman […]

Samsung Pay Crosses 1.3 Billion Transactions, But Falls Short of Apple Pay | Bank Innovation | Bank Innovation

As it makes its way to South Africa and continues to amass impressive partnerships with the likes of Alipay and PayPal, Samsung Pay might have completed three years in the mobile payments market, but its numbers still lag its main rival, Apple Pay. Samsung revealed yesterday that it had completed 1.3 billion

Why bitcoin is surprisingly valuable and stable as a chair with only one leg

When I first dove down the bitcoin rabbit hole in 2014, the accepted view was that bitcoin was a 3-legged stool: Leg 1 = Store Of Value Leg 2 = Currency for daily spending Leg 3 = Payment Rail The …

The New Payments Battleground: What We Learned By Implementing Zelle

Adoption of P2P payment solutions is critical if banking providers hope to compete with fintechs. Here's how one bank ramped up with Zelle.

Bitcoin-Friendly Square Cash is Now More Popular Than Venmo

Square's Cash App, which now offers bitcoin trading in all 50 U.S. states, is now more popular than PayPal's peer-to-peer Venmo app.

How Banks Are Making It Easier To Use Fintech Apps | Bankrate.com

Data-sharing between banks and fintech apps is evolving. Here’s how it impacts you.

Zelle Eyeing Expansion Into SMB Payments | PYMNTS.com

Zelle, the digital payment app that enables consumers to send money to friends and family, is gearing up to expand its offering to enable customers to pay small businesses. Bloomberg, citing people familiar with the situation, reported Zelle is in the process of enhancing its risk assessment tools as part of the effort to make it […]

P2P Payments to Increase 3-Fold, And So Must Fraud Controls | Bank Innovation | Bank Innovation

The demand for P2P payments does not seem to be slowing anytime soon. A study released this month by research firm Aite, and Early Warning, the parent company to bank-backed P2P payment company Zelle, found that P2P payments will triple by 2020. In the U.S. alone, Aite projects "over 300% growth from 2015 to 2020—from

P2P Payments to Increase 3-Fold, And So Must Fraud Controls | Bank Innovation | Bank Innovation

The demand for P2P payments does not seem to be slowing anytime soon. A study released this month by research firm Aite, and Early Warning, the parent company to bank-backed P2P payment company Zelle, found that P2P payments will triple by 2020. In the U.S. alone, Aite projects "over 300% growth from 2015 to 2020—from

3 Alternative Lending Startups to Watch | Bank Innovation | Bank Innovation

Large banks, e-commerce moguls like Amazon and eBay and tech firms are likely to enter the alternative lending space, and soon, according to Eden Amirav, co-founder and CEO of startup LendingExpress. In markets like Australia this is already happening. National Australia Bank set up its own alternative lending arm

Square overtakes Venmo as Cash app cryptocurrency play bears fruit

Square's push into the cryptocurrency market is leading to a surge in downloads for the firm's Cash app, surpassing PayPal's popular Venmo mobile money service for the first time.

Lenmo, the Venmo for Lenders, Set to Launch for IOS | Bank Innovation | Bank Innovation

Whether it's a consumer lender like Goldman Sachs's Marcus or a point-of-sale lender like Affirm or even SMB lenders like BlueVine, there is a lot of perceived opportunity in the lending market. Add a P2P dimension to that, and you have Lenmo. The new app is launching in the next few weeks in Apple's app store, Bank

The Allure of Debit Cards for P2P Payment Companies | Bank Innovation | Bank Innovation

In the U.S., debit cards are the most popular method of payment, so it's not surprising that many fintechs are trying to enter the debit card market. For companies focused on P2P payments such as PayPal, Venmo (owned by PayPal), Square, and savings apps like Acorns or Money Lion, the leap into the debit card business

Five At Five: Equifax Q2 Earnings Disappoint | PYMNTS.com

Welcome to the Five at Five your late look at the payments and commerce news of the day. Coverage includes Equifax reporting second quarter earnings, Walmart promoting the baby market and JCPenney targeting moms. Also, Flywire raises $100 million and Venmo books more than $14 billion in payments during the quarter. Equifax Q2 Earnings Disappoint As Data […]

PFM 2.0: Reigniting The Personal Financial Management Revolution in Banking

Thanks to the power of data analytics and AI, banking providers should be able to leverage personal financial management tools in new ways.

Most Financial Institutions Are Over-Engineering AI Solutions

The desire to develop the most advanced AI solutions can be stifling the development of more simplified applications wanted by customers today.

4 Fintech Stocks to Consider

Investors looking to add fintech stocks to their portfolios should consider PYPL, GSKY, MA and SQ. These four look poised to deliver explosive growth in the years to come.