The fintech’s push is part of a larger trend of US payment firms looking to capitalize on the massive growth opportunity in China
The open-banking-powered card offering brings together the benefits of A2A payments with the ease of card payments. Innovations like this could spur A2A payments usage globally
This could not only impact its market share in the debit card industry and cut into its margins—it may also hurt Visa’s brand in the court of public opinion
To serve customers with more “complex financial needs,” Bank of America will build 165 new financial centers in key US regions.
There’s a mismatch between the operational benefits banks hope to gain from genAI and how they’re allocating their genAI spend.
As open banking nears, financial institutions should be thinking about its impact on customers who likely bank elsewhere, too.
The upgrade can bring in more value-added services revenues for the network and spur greater real-time payments adoption
EWA gives consumers more financial flexibility, especially for gig workers and lower earners
Young consumers’ habit of regularly checking companies’ and apps’ reviews creates a valuable opportunity to build relationships.
The need for more detailed record-keeping will increase compliance costs.
The issuer will have to innovate its card offerings to contend with the UK’s lower interchange revenues
The retailer is pushing non-card payments to save on swipe fees, a perennial frustration for merchants, but getting consumers to make the switch will be tricky
Proposed caps from both sides of the aisle have failed to gain traction—they could restrict credit access and raise annual fees
This move could spur demand for financial institutions’ consumer lending products like mortgages. Get ready to compete for this business.