Category: Business | Page 3

New York’s OCC Fintech Charter Lawsuit is Dismissed

As previously reported, last December saw the first public announcement from the Office of the Comptroller of the Currency (OCC) regarding the intent to begin accepting special purpose bank charter applications from fintech organizations. And since then, the response has been a mixed one. Most recently, a New York Department of Financial Services (DFS) lawsuit has been dismissed based largely on a “perceived lack of threat to the DFS’ own regulatory powers.”

PFs Weigh in on India’s Latest Attempts to Boost Digital Transactions

As the government of India has pursued its vision of a cashless society, it has adopted policies intended to help stakeholders shift to digital payments. Most recently, it’s been tinkering with the economics of digital transactions, looking for that elusive sweet spot where the parties – retailers and banks alike – are incentivized to help drive the transition.

New Partnership for Square, Online Shopping with Venmo: News Roundup

PayPal makes headlines with Venmo and Square partners with SAP, while PPRO Group comes to Atlanta and Apple looks to India. Here’s your weekly news roundup.

Visa: Reducing Cash Use Could Yield $470 Billion in Annual Benefits for Cities

Visa makes an economic argument for embracing digital payments and reducing the use of cash in a new report, which estimates that electronic payments adoption could provide a net benefit of $470 billion (USD) per year across 100 cities.

PFs Help Remove Roadblocks on Way to Financial Inclusion

In a report published recently, Mastercard examines the barriers to financial inclusion in emerging markets and identifies ways forward to enable broader electronic payments acceptance. Payment facilitators are well positioned to help drive this effort.

Localizing Transactions Key to Attracting International Shoppers

A study released by shipper UPS earlier this month concluded that today’s U.S. online shoppers are more likely than before to make purchases from international retailers, and more likely to buy from online marketplaces.

What does this trend mean for the merchants looking to attract those shoppers – and the payment facilitators enabling their payments?

Survey Says: Cash Likely to Linger

Recent surveys have highlighted just how different your opinion of cash could be depending on where you live – and how close you might be to living in a society that drops cash for cards or mobile payment options.

No matter where they’re located, as consumers increasingly embrace the idea of a world without cash, the opportunities for payment facilitators to connect merchants with buyers are rising.

Ups, Downs, and “Frothiness” in Between: PF Day Wrap

Interest in the business of payment facilitation is growing, not just among companies lured in to monetize transactions and the investors excited to fund fast-growing startups, but also regulators wanting to make sure a new third party isn’t taking advantage of consumers.

And all these eyes on the industry mean payment facilitators themselves, and companies thinking about switching to the model, are hungry for more information about how to run their business to take full advantage of all the opportunity in the space.

Compliance from the PF Point of View: PF Day Preview

When a technology company decides to take on payments, it often seems like a natural next step. Who wouldn’t want to extend their services by enabling clients to accept payments?

Then reality sinks in. Adding the technical capability to move money is one thing. Opening the door to the complex web of federal and state regulation and card brand rules is another.

PayPal, Visa Extend Partnership to APAC

Visa and leading payment facilitator PayPal announced an expansion of a strategic partnership they entered into in the U.S. last summer.

The partnership is an agreement to work jointly to grow the adoption of mobile and digital payments. This latest agreement covers the Asia Pacific region.

As was the case in the U.S., the APAC partnership includes PayPal’s use of the Visa’s Digital Enablement Program (VDEP), which gives PayPal access to Visa’s tokenization technology. This enables PayPal users to conduct secure transactions at point-of-sale locations where Visa is accepted.