Amazon Go cashierless checkouts coming to Whole Foods next year
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Fintech News Stories
India taps private sector to set up new payments body
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India’s central bank is taking applications from companies for efforts to set up a new umbrella entity for retail payments. The new organization could be a for-profit entity, and will operate alongside the bank-backed nonprofit National Payments Council of India (NPCI), which currently oversees retail payments in the country.
Read MoreSamsung Pay taps Curve for UK debit card launch
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Samsung Pay has launched Samsung Pay Card, a new Mastercard digital debit card for U.K. customers. Samsung Pay Card uses startup Curve’s card consolidation tools to allow consumers to use Samsung Pay Card for all purchases, supported by an underlying payment card of their choice.
Read MoreFacebook creates new internal group to oversee payments across apps
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Facebook launched a new internal group called Facebook Financial to oversee payments and commerce initiatives, including Facebook Pay, a universal payments capability that it plans to include in all of its apps.
Read MoreSquare acquires Stitch Labs to help grow its merchant toolkit
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Payments company Square last week acquired commerce operations firm Stitch Labs, whose tools let businesses oversee inventory, orders, channel management, and fulfillment.
Read MoreCash App drives transaction growth for Square
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Square’s peer-to-peer Cash App, drove the company’s performance in the second quarter. Square reported $1.92 billion in net revenue for the second quarter – a 64% year-over-year jump – despite an $11 million loss.
Read MoreApple buys startup whose tech can ‘transform iPhones into payment terminals’
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Apple has acquired Canada-based payments company Mobeewave for $100 million. After launching a credit card with Goldman Sachs, this is the tech giant’s latest move into financial services.
Read MorePayment volume surges for PayPal as lockdowns boost online shopping
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In its best quarter ever, payment provider PayPal reported total payment volume was $222 billion in the second quarter, a 29% jump year-over-year. Quarterly profits grew 86%.
Read MoreBank of China advises banks to move away from SWIFT payment network
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A report from the investment banking unit of Bank of China urged Chinese institutions to increase the use of a Chinese financial messaging network in lieu of SWIFT, for cross-border transactions in the mainland, Hong Kong, and Macau.
Read MoreAs Digital Payments Gain Ground, Lawmakers Step in to Protect Cash
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A bipartisan Senate bill put forward by Sens. Bob Menendez, D-N.J., and Kevin Cramer, R-N.D. would prohibit retailers from turning away cash payments from customers.
Read MoreCould Your Face Be a Ticket to Enter and Your Form of Payment?
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New life may be breathed into facial ID due to the coronavirus — no cards, no phones, no touching.
Read More‘Future-Proofed’ Technology is the Focus of Episode Six
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Three’s not a crowd for Episode Six, which was founded by CEO John Mitchell, CTO Futeh Kao, and CFO Chermaine Hu. The team discusses its work to help companies around the world with digital transformation, enabling them to easily adapt to shifts in market demand.
Read MoreAir, Food, Water, Shelter, Internet — and Fraud?
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Plenty of consumers now believe fraud is simply a cost of the digital economy. It’s roughly a 50/50 split among those who accept and reject this premise, according to a new survey by the card-issuing platform Marqeta.
Read MoreContactless Payments on the Rise
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A Mastercard survey found 46% of respondents have shifted from cards to contactless, and the figure grows to 52% when you look only at people under 35.
Read MoreVisa Can’t Quit the Fintechs
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It’s been a big few weeks for Visa, which continues to make significant investments in fintech firms.
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