Friday January 11, 2019 –
Here are the new and noteworthy stories we have been following this week.
Goldman Sachs boosts rates on Marcus accounts as banks fight for deposits
Marcus to increase the rate paid on savings accounts by 20 basis points to 2.25 percent.
Google gets payments licence in Ireland
Ireland’s central bank has granted authorization for Google to operate as a payments institution.
https://www.finextra.com/newsarticle/33167/google-gets-payments-licence-in-ireland
No words: Mastercard to drop its name from logo
Mastercard updates logo and drops the word Mastercard from logo.
https://www.cnbc.com/2019/01/07/no-words-mastercard-to-drop-its-name-from-logo.html
U.S. Consumer Credit Growth Exceeds Forecast on Autos, Loans
Total consumer debt rose $22.1 billion in November to $3.98 trillion with strong gains in non revolving credit.
Japan’s Seven Bank taps facial recognition tech for ATM-based account opening
Seven Bank is planning to add facial recognition technology to its ATMs, enabling users to open accounts through the machines.
Visa and SiriusXM Team Up to Fast Track the Future of In-Vehicle Commerce
Visa and SiriusXM collaboration to enable Visa account holders to pay for coffee, gas, parking, movie tickets and more in-vehicle.
Proceeding with caution – a survey on central bank digital currency
A BIS survey shows that while a majority of central banks are looking at the implications of a central bank digital currency, they are proceeding with caution and most are only at a conceptual stage with their work.
https://www.bis.org/publ/bppdf/bispap101.htm
Lending Startup Affirm to Test High-Interest Savings Accounts
Affirm is working on a Q1 pilot for a high yield savings account targeting its existing user base.
https://cheddar.com/videos/lending-startup-affirm-to-pilot-high-yield-savings-accounts
Cross River Bank Partners With Stripe To Power The Marketplace Economy With Push-To-Card Payments
Cross River teams with Stripe to deliver instant ‘push payments’ to gig economy workers.
LendUp Creates Stand-Alone Company To Accelerate Expansion Of Its Growing Credit Card Business, Fueled By New Capital Injection
LendUp separates its credit card business under a new stand-alone unit, Mission Lane.
