The COVID-19 pandemic is leading consumers to embrace digital banking, with community banks reporting double-digit percentage growth in online account openings. Lisa Brubaker, chief technology officer for WSFS Bank, explains in the Digital Payments In A Digital World Playbook, how digital tools, including QR codes,...
As consumers become used to, and increasingly embrace, life lived digitally, financial institutions (FIs) of all sizes must prepare for seismic shifts in how customers access financial services, communicate with their FIs and make payments. In an interview with Karen Webster, Kris Carrera, senior vice...
The new coronavirus had an immediate and profound effect on the financial services industry, as brick-and-mortar bank branches closed to protect public health. Those closures meant that many consumers in countries like the United States were left only with digital platforms to access their bank...
To help users manage everyday finances, Samsung Electronics America, Inc. has announced a new mobile-focused money management experience called Samsung Money by SoFi. The technology company said the account is secure and offers rewards for those who save, with “higher interest relative to the national average of transactional...
Call it the great shift. We’re still navigating the pandemic — which means doing what we used to do offline, increasingly, through digital means. As PYMNTS found in a recent consumer study, 40 percent of individuals are doing more of their daily retail and transactions...
When the pandemic is over, there will be thousands of books written about the ways the coronavirus changed daily life, globally. Among those will be – or should be – a tome on how the great shift to digital commerce drove merchants to connect to...
As individuals throughout the country stay in their residences to avoid spreading the virus and cash is viewed as a germ risk, PayPal is bringing in a new segment amid stay-at-home shutdowns. Individuals beyond the age of 50 comprised the payment firm’s quickest growing demographic between...
Facebook’s WhatsApp could be abusing its position of power in India by stealthily offering payment options, according to Reuters. There was a complaint filed in mid-March that the messenger app was being used to offer Indian consumers a new digital payment service that circumvents Indian...
New Jersey’s big bet on online gambling has paid off, with revenues skyrocketing to a record $80 million in April. Not surprisingly, sports gambling revenues were way down as stadiums remained closed and most professional games were canceled due to COVID-19 restrictions. Meanwhile, the state’s...
