This year, the payments industry will face its first major test following pandemic-driven digitization as economic uncertainty pressures customer habits. This is the data you need to understand the major changes facing the payments ecosystem in 2023—and how to navigate them.
Regulators hoped the deals would quiet the chaos, but they might be doing the opposite.
Employees say the bank’s execs worked from all over the US, making management difficult. Its collapse could put a target on the backs of bank employees who work remotely.
The resulting sense of urgency is helping scammers take advantage of flustered customers and employees. Banks must encourage both to speak up when things don’t seem right.
Working with the country’s leading super app can help Western Union compete more aggressively against digital challengers.
The number of Gen Z mobile banking users will reach 33.7 million in the US this year and continue to grow at a compound annual growth rate of 12.4% through 2026, per our forecast.
Santander wants to fix financial inclusion in Mexico: It plans to launch its digital-only brand OpenBank there in 2024. But it picked a problem that may be too big to handle.
Secretary Yellen emphasized its stability and endorsed the rescue efforts. The Fed gave a picture of emergency lending.
Many of them banked solely with SVB. Recent events taught them to take their finances more seriously, and to work with multiple banks.
On today's episode, we explore the evolution of the payments ecosystem and discuss the trends to look out for in 2023. In our “Headlines” segment, we discuss (among other things) buy now, pay later; credit card fees; and crypto. In “Story by Numbers,” we examine payments at retail stores. And in “For Argument’s Sake,” we debate whether interest rate scrutiny by regulators will impact credit card rewards programs. Tune in to the lively conversation between our host Rob Rubin and analysts David Morris and Jaime Toplin.
Visa, Mastercard, and several paytechs said their businesses were mostly uninterrupted despite ties with the now-collapsed bank.
Amid the turmoil, a neobank has an identity crisis: MoneyLion can’t sell the reason for owning a content studio.
Its valuation took another big dip, but the raise could encourage other cash-hungry fintechs. Stripe’s OpenAI tie-in can open doors for both firms.
The bank received $52 billion in aid from the Swiss central bank. But central banks may also be aiding the global banking turmoil through rate hikes.