Friday April 26, 2019 –
Here are the new and noteworthy stories we have been following this week.
NCR Previews All-in-One Solution that Integrates Payments Processing, Helps SMBs Leverage Digital Commerce
NCR launched its enhanced all-in-one tablet based POS solution, NCR Silver One™ to support in-store and online payments.
https://www.apnews.com/Business%20Wire/8c27ed555cd44b2a821ab710698d9e63
TD and Microsoft Enter into a Strategic Relationship to Power the Future of Digital Customer Experiences
TD Bank Group and Microsoft announced a strategic relationship in which TD will use Microsoft Azure as the cloud foundation for its technology and design teams.
Visa Inc. Reports Fiscal Second Quarter 2019 Results
Visa reported net revenues of $5.5 billion (up 8%), net income of $3 billion (up 14%), and processing volume of 32.5 billion transactions (up 11%).
https://s1.q4cdn.com/050606653/files/doc_financials/2019/q2/Visa-Inc.-Q2-2019-Financial-Results.pdf
Fintech charters, CRA and data sharing: McWilliams, Otting weigh in
At an industry event, top regulators provided some interesting insights into their thinking around fintech bank charters, CRA reform, and customer data.
Marqeta Launches New Digital Banking Solution For European Fintech Innovators, Announces Three Major Customer Signings
Marqeta has launched a new digital banking solution for European fintech companies and announced the signing of three clients: Morning, YAPEAL, and Aplazame.
Venmo Has 40 Million Users, Outnumbering Most Big Banks
As part of its earnings release, PayPal reported 40 million active Venmo users and Q1 volume of $21.3 billion, up 73%.
https://www.wsj.com/articles/venmo-has-40-million-users-outnumbering-most-big-banks-11556142906
Sweetgreen Will Once Again Accept Cash
Sweetgreen is reversing its two year old ‘cashless’ policy and will start accepting at cash at all its restaurants by year end.
https://www.bloomberg.com/news/articles/2019-04-25/after-outrage-sweetgreen-will-accept-cash-again
Brazil ushers in open banking model
The Brazilian Central bank has approved and issued guidelines to be considered while the open banking model is implemented.
https://www.zdnet.com/article/brazil-ushers-in-open-banking-model/
Bad Credit Card Debt Is on the Rise
According to Bloomberg Intelligence, credit card chargeoffs have increased to 3.82% in Q1 and some industry leaders are voicing concern around credit cycle stage and certain customer segments.
Sensing a threat they can’t ignore, Wall Street banks instead partner with tech giants like Apple
Banks are facing a critical and difficult choice as they engage with the tech giants.
