| Nov 16 Global payments news roundup: Brightwell, Google Bank, Singles Day sales record, algorithm bias, Nike dumps Amazon, Facebook Pay, WeChat Pay, more...
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| Here’s what we found noteworthy in the global payments news this week. Brightwell with NCR is growing the payments niche market with cruise ship crews. Google Bank? The tech giant announced plans for a new banking account service in partnership with Citigroup. A record $38.4 billion for Alibaba in one Singles Day 24-hour. Yowza! We take a fresh look at algorithm bias and what it might mean to financial services providers and clients. And there’s lots more in the news roundup below.
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| Cruising for payments: Brightwell grows unique market niche
Brightwell and NCR announced the two companies will collaborate to provide financial services including cross-border remittance, P2P transfers, digital bank accounts and ATM access for several of Brightwell’s largest cruise line clients. Brightwell’s mobile-first platform and suite of financial tools simplify personal finances and provide safe, secure, useful features built just for workers employed away from home for extended periods of time on cruise ships and other employment around the world. Read more… |
| Welcome to Google Bank?
It’s official. In 2020, Google will introduce checking accounts for its Google Pay customers in partnership initially with Citigroup and Stanford Federal Credit Union. Analysts expect the new checking account will not carry the Google name but rather be branded with the partner bank name. That’s a curious marketing decision at first glance but analysts see other goals in sight for the search engine giant including big data. Read more… |
| All you need to know about record 2019 Singles Day sales
The numbers are in and it was another massive Singles Day sales success with more than $38.4 billion in sales in just 24 hours. That’s more than Amazon’s entire third-quarter sales – in one day. The best way to get a handle on it is to simply look at the data from Alibaba’s news release, so here we go… $1 billion in sales in the first 68 seconds; 1.3 billion delivery orders processed… Read more... |
| Follow the money bias
I was thinking about a very compelling book I’ve been reading called Beyond the Valley: How Innovators around the World are Overcoming Inequality and Creating the Technologies of Tomorrow by UCLA professor Dr. Ramesh Srinivasan. He’s studied, written about, and traveled the world looking into technology and its impact and the disconnect between users and designers, producers and consumers, and technology elites and the rest of us. Read more… |
| Nov 15 Global payments news roundup: Nike dumps Amazon, Facebook Pay, WeChat Pay, Sokin, Walmart, Jabong, more...
In the payments news roundup, lots was happening aside from the Impeachment. Facebook Pay launched in the US, startup Sokin pledged to turn the remittance world upside down, and HSBC and RBS launched digital banking trials in the UK. Tencent’s WeChat Pay announced collaborations with Visa, MasterCard and other global credit cards. Nike ran away from sales on Amazon.com while Walmart.com e-commerce sales grew 41% in the most recent quarter despite losses and a $294 million write-off on its Indian e-commerce platform Jabong. Enjoy your weekend reading and get ready for Black Friday! Read more… |
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