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The Future of Mobile Payments

The Future of Mobile Payments | Commerce and Payments | Scoop.it
Google Wallet shows us the future of mobile payments: banks moving money around, while other companies manage the product development and customer relations.
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India shakes up financial sector with payments bank licences - FT.com

India shakes up financial sector with payments bank licences - FT.com | Commerce and Payments | Scoop.it
India is set to grant licences to 11 businesses to launch new so-called payments banks, including UK-based telecoms group Vodafone and billionaire Mukesh Ambani’s Reliance Industries, marking a significant shake-up of the country’s financial sector.
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Alibaba Faces Fresh Threat From Rivals

Alibaba Faces Fresh Threat From Rivals | Commerce and Payments | Scoop.it
Alibaba is fighting an aggressive ground war to keep its top e-commerce spot against a pack of rivals, suggesting China’s biggest online vendor may not be as invulnerable as it seems.
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Stores Suffer From a Shift of Behavior in Buyers

Stores Suffer From a Shift of Behavior in Buyers | Commerce and Payments | Scoop.it
As Americans prioritize spending their money on experiences, not objects, department stores and other retailers are struggling with sales.
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London’s money-laundering enablers face crackdown

London’s money-laundering enablers face crackdown | Commerce and Payments | Scoop.it
Pressure grows on lawyers, estate agents, accountants, and company formation agents
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PoF 24 – EMV, the Small Business, and New Ways to Pay — Payments Views from Glenbrook Partners

PoF 24 – EMV, the Small Business, and New Ways to Pay — Payments Views from Glenbrook Partners | Commerce and Payments | Scoop.it
Every payment pro in the US is also a shopper and we all know that the largest retailers are poised to support EMV. Nearly all have EMV capable hardware. A few have turned it on. Most are waiting for the
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How W3C is trying to standardize payments on the internet

How W3C is trying to standardize payments on the internet | Commerce and Payments | Scoop.it
A group of companies is working to agree common standard for how payments should work online.
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'Know Your Customer's Customer' Goes Global

'Know Your Customer's Customer' Goes Global | Commerce and Payments | Scoop.it
For more than a decade, U.S. regulators have been advising bankers to know more about their customers than who they are. In the next five years that may become the global norm as technology allows more granular transaction monitoring.
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Jet.com Uses Clever Tactic to Save Money

Jet.com Uses Clever Tactic to Save Money | Commerce and Payments | Scoop.it
As Jet.com opens its doors Tuesday, it's worth paying attention to a clever tactic the startup is using to help users save money and mitigate steep losses over the coming months.
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Behind the Numbers of Jet.com’s Audacious Plan to Attack Amazon

Behind the Numbers of Jet.com’s Audacious Plan to Attack Amazon | Commerce and Payments | Scoop.it
Here's a behind-the-numbers look at Jet's massive undertaking to wage war against Amazon.com.
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Starpoint Blog - Finventures - Connecting Innovation and Capital

Starpoint Blog - Finventures - Connecting Innovation and Capital | Commerce and Payments | Scoop.it
Connecting Innovation and Capital
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Amazon Putting Pressure On Google Ads

Amazon Putting Pressure On Google Ads | Commerce and Payments | Scoop.it
Amazon continues to become a much larger competitor for Google text ads. Merkle RKG analysis suggests of its advertising agency clients running both Amazon Product Ads and Google Product Listing Ads,
Amazon Product Ads produced 17% as much revenue as Google.
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Amazon Marketplace And Merchant, Consumer Trust | PYMNTS.com

Amazon Marketplace And Merchant, Consumer Trust | PYMNTS.com | Commerce and Payments | Scoop.it
Patrick Gauthier, Amazon's VPP Of Payments, spoke with MPD CEO Karen Webster about retail and the consumer shopping journey — which all starts with trust.
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Zulily Is Lost Up the Amazon With Latest Deal

Zulily Is Lost Up the Amazon With Latest Deal | Commerce and Payments | Scoop.it
Zulily’s sale to QVC offers a lesson to other e-commerce players trying to compete with Amazon.
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Does anyone really think banks aren't aware of the Fintech challenge?

Does anyone really think banks aren't aware of the Fintech challenge? | Commerce and Payments | Scoop.it
I find it interesting that so many bloggers on Fintech deride the banks for being slow, clueless or stupid. So many blogs talk about how banks don’t do this, don’t do that; fail at this, fail at that; have no...
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The anti-Amazon that's making money: Zazzle

The anti-Amazon that's making money: Zazzle | Commerce and Payments | Scoop.it
Zazzle, an e-commerce company that's stayed under the radar in hype-happy Silicon Valley, is finally divulging its numbers. And they're impressive.
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Jet.com Runs Into Turbulence With Retailers

Jet.com Runs Into Turbulence With Retailers | Commerce and Payments | Scoop.it
Dozens of the nation’s largest retailers including Macy’s, Amazon.com and Home Depot have quickly moved to disassociate themselves from new discount retail website Jet.com.
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Fintech Fictions, Fallacies, and Fantasies

Fintech Fictions, Fallacies, and Fantasies | Commerce and Payments | Scoop.it
As for the idea of postal banking, let’s again try to inject a little logic and reasoning into the discussion.

The author states that “one in three unbanked households reported high or unpredictable account fees as a reason for not owning an account.” If it were profitable for banks to serve these households at lower fee levels, I can assure you that banks would reduce their fees. Now, if banks can’t profitably serve these customers at below-market rates, what makes you believe that the US-run postal service could profitably serve them at those rates?

Reality: Simply having a vast physical presence is no guarantee of the postal service’s prospects for success in banking. Where’s the technology to support banking functions going to come from? Where is the customer support going to come from? Where is the risk management and security controls going to come from?

The level of investment needed to create and support a banking operation would be immense, and if you think the Unbanked–who account for just 8% of households in the US–are going to come flocking to the post offices to open accounts, you’re nuts. Right off the bat, half aren’t even likely to consider a postal service-run banking offering, because they’ve opted to manage their financial lives with prepaid debit cards.

Here’s a radical idea to counter the one in the TIME article: What if policymakers designed and supported ideas that increased the number and quality of jobs in the market, thereby reducing the number of people for whom we had to worry about “including” in the traditional banking market? A boy can dream, you know.

Bottom Line

There is no shortage of opinions
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29 APIs That Startups Should Consider Before Building Any Fintech Product - Let's Talk Payments

29 APIs That Startups Should Consider Before Building Any Fintech Product - Let's Talk Payments | Commerce and Payments | Scoop.it
The article talks about 29 APIs That Startups Should Consider Before Building Any Fintech Product
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COMMENTARY: Tokenization, Misinformation, and the Benefits of Host Card Emulation

COMMENTARY: Tokenization, Misinformation, and the Benefits of Host Card Emulation | Commerce and Payments | Scoop.it
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A Very Public Conflict Over Private Blockchains

A Very Public Conflict Over Private Blockchains | Commerce and Payments | Scoop.it
Banking experts are starting to look into cryptocurrency tech, and they are hedging their bets by finding uses for both the public blockchain models – like Bitcoin – and private models.
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PayPal Enters a Brave New World of Money Disruption

PayPal Enters a Brave New World of Money Disruption | Commerce and Payments | Scoop.it
PayPal is entering a field that looks far different than it did the last time the company was out on its own.
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Bitcoin Firm Xapo Cuts North Carolina Access

Bitcoin Firm Xapo Cuts North Carolina Access | Commerce and Payments | Scoop.it
Bitcoin services provider Xapo has confirmed that it will no longer operate in the state of North Carolina.
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