| Klarna raises $650M, Alibaba eyes $3B investment in Grab, Goldmanâs Marcus adds personal financial management tools | | | Why Mexicoâs SMBs Need A FinTech Operating System And Not Another Bank A banking system that can take four to six months for a SMB to open a business banking account and a year to get a debit card isnât exactly business friendly. Itâs why Vilash Poovala, founder and CEO of neobank Oyster tells Karen Webster that the last thing Mexicoâs SMBs needed was another bank. Hereâs what he said that a financial services operating system powered by a FinTech can do for them instead. |
| Single EU Market And Digital Banking |
| The EUâs Single Digital Marketâs Push To Streamline Payments Relying on a single acquiring bank can spell trouble for merchants, but diversifying risk through multiple banks and payment service providers (PSP) can quickly become a headache when toggling between financial institution (FI) interfaces. However, Monneoâs Lilia Metodieva tells PYMNTS that PSD2 has set the framework to streamline merchantsâ PSP relationships and the payments ecosystem as a whole â particularly as the EU approaches a future as a single digital market. Hereâs how it works. |
| The Pandemic’s Push For The FI/FinTech ‘Win-Win’ OnDot's Balu Kikkeri says in a PYMNTS Masterclass discussion that the pandemic has created a massive opportunity for financial institutions (FIs) to form new, stronger relationships with their customers. But he says the opportunity is only as good as a firm’s ability to pursue it — and to seize this one, banks will need to partner with the right FinTechs. |
| GIACT On Getting Ready For Nacha's Debit Account Verification Changes Nacha’s new WEB Debit Account Validation Rule for ACH payments will require account verification as part of anti-fraud efforts beginning next March. Kimber Johnson, executive vice president of strategic alliance at GIACT, tells PYMNTS the new rule comes at a time when not only is commerce is speeding up and moving increasing online – but so is fraud. Here’s how the new rule aims to fight that. |
| | Digital Identity Tracker | | Report: Digital IDâs Role In Boosting Trust In The Sharing Economy More than 32 million U.S. consumers move every year, with many turning to shared spaces to store their belongings. Renters want assurances that they can stow their possessions safely and hosts need guarantees that renters are who they say they are, says Anthony Paine, co-founder of peer-to-peer (P2P) storage marketplace Stashbee. In the latest PYMNTS Digital Identity Tracker, Paine explains how using digital ID verification tools help foster trust in the moving economy. |
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