| May 25 Global Payments NEXT newsletter: Cash, ATMs, Bankable, Trustly, Facebook payments, Deutsche Bank, more… |
| After a week of subpoenas, bank intrigue, and political drama, we thought you’d enjoy a simple global payments news roundup for reading over the US Memorial Day long weekend. First, we look into why cash is still used by 31% of US consumers. We explore why 30% of UK retail gets no value from e-commerce projects. ATM installations are down worldwide, but still growing in some markets.
In our weekly payments news roundup, Visa invests in Bankable, the Bank-as-a-Service provider. Rogue mobile app attacks are up 300% and CNP fraud is booming according to RSA Security. Facebook is opening a new fintech operation in Switzerland. Trustly and digital bank Collector will bring instant bank payments to Nordic merchants. Deutsche Bank investigated suspicious transactions between Trump, family and Russians, but did not report to regulators. Notorious Dr Craig Wright filed a US Copyright registration as Satoshi Nakamoto. Let the fireworks begin on that and enjoy your Memorial Day long weekend in the US as we celebrate veterans.
|
| Is cash still a factor in payments?
Those bills in your purse or wallet, or coins in your pocket? They’re still used in 31% of US consumer transactions across all income levels according to a CNBC report. Use of cash jumps dramatically as you drop to lower income levels as well and that’s reflected in the recent debate and pushback against contactless payments and cashless stores in the US. Read more… |
| 30% of UK retail got no value from e-commerce projects
According to new research from Greenlight Commerce in London, “UK retailers expect 30% of all eCommerce work will basically give them back no value,” says Managing Director, Kevin Murray. “It’s hard to see how a 30% failure rate ‘target’ could be acceptable in any other part of a retail business – let alone any project management context.” That’s a shocking statistic, but it doesn’t have to be that way. Read more… |
| The case for cash, ATMs, pay phones, and pizza
Remember when you last went looking for a pay phone and found one? I can’t. It’s probably been 15 years. We could be seeing the early stages of a similar trend for ATMs if a new research report from London-based RBR is any indication. Researchers found that the number of ATMs installed in the five largest markets – Brazil, China, India, Japan, and the US dropped nearly 6% in 2018 to 1.62 million. Read more…
|
| Why is fintech adoption by business still lagging?
“B2B fintech has evolved from on-premise accounting systems that help customers manage financial data to dynamic, cloud-based solutions that are impacting almost every area of the business,” said Dan Drees, Chief Growth Officer at AvidXchange. “Despite this progress, there are still a significant number of companies who haven’t embraced fintech. Understanding why and helping businesses adopt it will be the primary challenge for the financial services industry as we move forward.” Read more... |
| US Copyright Office says Craig Wright claims he s Satoshi Nakamoto
With the April 11, 2019, US copyright registration no. TXu 2-136-996, the US Copyright Office said that Australian Dr. Craig Wright claims he is Satoshi Nakamoto. The registration covers the paper entitled “Bitcoin: A Peer-to-Peer Electronic Cash System” created in 2008 and published in 2009 anonymously by Satoshi Nakamoto, whose identity has never been before, confirmed. Controversy ahead!. Read more… |
| | May 24 Global payments news roundup
In addition to posts above, we’ve got a global news roundup that includes items on Visa’s new investment in Bankable, rogue mobile fraud attacks, Trustly and Collector’s instant payment plans in the Nordic region, US Deutsche Bank money laundering problems, and a big question around a Satoshi Nakamoto copyright claim. Read more… |
| Get more global payments industry news and insight.
Find the daily payments industry news you can use at Payments NEXT.
|
| |
