July 31, 2020
Varo Awarded FinTech National Charter
Colin Walsh got lots of laughs five years ago when he talked of his intention to launch a financial technology (FinTech) startup. Since then, the skepticism has evaporated and the...
July 31, 2020
Cloud Technology For FIs, Debit Cards, Potential Credit Card Default...
It’s the end of the work week, and the PYMNTS Weekender is here to make sure you didn’t miss anything with the latest in payments and commerce news. We have...
July 31, 2020
China Regulator Considers Antitrust Probe Of Alipay, WeChat Pay
China’s State Council’s Anti-Monopoly Commission is considering investigating Alipay and WeChat Pay, two of the county’s biggest online payment and money transfer platforms, Reuters reported. The People’s Bank of China, the nation’s central bank that...
July 31, 2020
Deep Dive: Credit Unions Respond To The Threat Of Digital-First...
Credit unions (CUs) have competed with banks that offer similar products for years, but their strength has long remained in the value of member relationships and ownership in the CU....
July 31, 2020
China Regulator Considers Antitrust Probe Of Alipay, WeChat Pay
China’s State Council’s Anti-Monopoly Commission is considering investigating Alipay and WeChat Pay, two of the county’s biggest online payment and money transfer platforms, Reuters reported. The People’s Bank of China,...
July 30, 2020
Bitcoin Daily: Crypto Exchange Paxful Sees Usage Up 350 Pct...
Paxful says it has experienced a 350 percent jump in the use of its infrastructure in Russia, Decrypt reported. The bitcoin exchange has seen record month-over-month peaks in user signups on its exchange...
July 30, 2020
Monzo CEO Hopes New Accounts Can Blunt Pandemic’s Impact
New Monzo CEO TS Anil said the U.K. company, badly damaged by the pandemic, is hinging on new products to survive, the Financial Times (FT) reported. Anil maintained that the...
July 30, 2020
Contactless, Digital Drive Mastercard Q2 Earnings
Mastercard reported Q2 earnings results on Thursday (July 30) that in many ways mirrored what rival Visa reported the day before. Like Visa, Mastercard delivered better-than-expected second-quarter results, despite sharply reduced consumer spending...
July 30, 2020
Bank Of England To Revamp Payments, Eyes Digital Currency
The Bank of England (BoE) is pushing ahead with an overhaul of a key part of the United Kingdom’s financial payments infrastructure. The U.K.’s central bank announced on Thursday (July...
With nearly half of CU executives saying a lack of resources prevent them from bringing innovations to market, CUs are stuck piloting the digital innovations their members crave — and are willing to switch FIs for. The rise of strategic mergers is a way that some CUs are exploring to pool resources, innovate and drive scale. Read more in the “Credit Union Tracker®,” a collaboration with PSCU.
To drive growth and reduce churn, credit unions should invest in digital solutions that improve user experience, offer robust security features, and provide convenient self-service options tailored to the preferences of Gen Z and millennial consumers. PYMNTS Intelligence’s latest 40-page report,“How CUs Can Drive Engagement with Self-Service Banking Innovation,” a collaboration with Velera (formerly PSCU/Co-op Solutions), examines why CUs need to up their self-service banking innovation.