Though they face an array of competitive threats — from digital currencies to peer-to-peer payment apps — the vast majority of community banks do not have a payments strategy, according to a recent survey.
The $13.7 billion acquisition could have significant implications for swipe-fee revenue and other grocers' in-store branches. It also raises the question of whether the Seattle e-commerce Goliath will soon set its sights on the financial services industry.
Amazon’s new Prime rewards program is the latest way the tech titan is cultivating a loyal use base. To retain and engage customers, banks should follow Amazon’s lead and layer in more value-added services.
The global messaging network Swift and its fintech challenger, Ripple, have been vying for bankers’ hearts and minds for more than a year. Whoever prevails, their latest moves could bring needed change to how international banking is done.
When Zelle launches, it will not allow users to share information about their payments with other folks in their network. That decision puts the P-to-P service on a different course than Venmo, its fast-growing rival.
