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Everything You Need To Know About What Amazon Is Doing In Financial Services

CB Insights

If Amazon can get you lower-debt payments or give you a bank account, you’ll buy more stuff on Amazon.”. Based on our findings, it’s hard to claim that Amazon is building the next-generation bank. In aggregate, these product development and investment decisions reveal that Amazon isn’t building a traditional bank that serves everyone.

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Banks On Notice: Fintechs Are Coming For Checking Accounts & Debit Cards

CB Insights

One of the biggest trends in fintech today is the rise of digital banking products like mobile checking accounts and new debit cards. From Square to Paypal, a host of fintechs are creating products that let consumers spend money directly out of digital accounts using a physical card. mobile-first bank accounts.

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Sizzle Of The Week: Zelle’s Accelerating Growth

PYMNTS

Bank earnings this week gave us a bit of insight into the momentum gained by bank-backed P2P payment network Zelle in 2018. For example, Bank of America reported on Wednesday (Jan. 16) that Zelle payments were up 97 percent in Q4 2018, signaling the latest burst of growth for that payment method.

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Mastercard Partners With MegaFon For Mobile Pay Initiative

PYMNTS

Mastercard and MegaFon have introduced two joint initiatives that will allow subscribers to link their mobile phone accounts to Apple Pay or Samsung Pay through the creation of a virtual Mastercard card. In addition, the partnership also allows subscribers to create a virtual Mastercard bank card via the MegaFon.Bank app.

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Venmo And Zelle’s P2P Battle Royale

PYMNTS

The fourth quarter of 2018 was kind to Venmo and Zelle , the two big peer-to-peer (P2P) services that are battling for consumer loyalty and market supremacy — a fight that pits PayPal , the owner of Venmo, against the banks that operate Zelle. 31, 2018, with a year-end goal of 300 million.) Zelle Bank Gains. P2P Numbers.

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How Up Is Tapping Cloud Solutions For Flexible, Technology Oriented Banking

PYMNTS

The debate about cloud technology’s place in the banking industry has moved beyond whether such platforms can safely transfer and store sensitive financial information. Cloud-based banking technology can help FIs keep up with digitally savvy customers, but banks must realize that no single tool is sufficient to meet their needs.

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Mastercard In Renewed China Push

PYMNTS

Mastercard, in an effort to gain entry into the Chinese market, is looking toward a joint venture that may help the card giant get a credit card license in that country. As estimated by Analysys, the value of online transactions through the first nine months of 2018 stood at roughly $18 trillion USD.

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