Insider Intelligence Daily

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March 13, 2021

Payments companies’ CEOs are joining forces as pressure mounts against card fee hikes.

The CEOs of Amex, Discover, Mastercard, and Visa have banded together with the CEOs from payments giants FIS, Fiserv, and Global Payments to form the Payments Leadership Council (PLC).

The PLC’s formation comes as tensions rise regarding some of its corporate members’ plans to raise card fees next month.

The anticipated card fee increases aren’t mentioned in the PLC’s inaugural statement, but it may have been one of the reasons the council formed in the first place.

Insider Intelligence's Adriana Nunez has the full story.

BRIEFING HIGHLIGHTS

Overdraft fee income for banks closes out 2020 with a muted resilience

Income from overdraft charges has rebounded from pandemic lows, but a changing landscape for banks leaves their viability in doubt.

Why SoFi's bank buy might rewrite the bank charter playbook for fintechs

SoFi's decision to acquire a small community bank instead of independently obtaining a national banking charter provides a roadmap to other neobanks.

Financial institutions ramp up crypto services

Goldman Sachs and Deutsche Börse are the latest incumbents to add crypto trading options, further pulling the asset class into the mainstream.

Mastercard and Samsung set to launch biometric payment card

Mastercard and Samsung are set to launch a biometric payment card, which have been gaining more traction thanks to falling production costs.

Moneybox gives users a boost with robo-mortgage advice

Moneybox's robo-mortgage advice complements its existing home deposit savings account to create an end-to-end homebuying solution.

PayPal steps into Australia's buy now, pay later market

PayPal's move into Australia could be challenging, considering the market is already dominated by a number of homegrown BNPL providers.

Betterment acquires rival digital wealth manager's US business

Wealthsimple is refocusing on its core Canadian business, while Betterment will get a boost from the added market share.

Starling reaches unicorn status as it bolsters its business offerings

Starling expects to put fresh capital toward new acquisitions and strategic initiatives that'll position it for profitability.

Amazon and Deliveroo are focusing on post-pandemic growth efforts

Amazon, Deliveroo, and Olo are expanding offerings and shoring up finances to position themselves for further growth post-pandemic.

Walmart's leaked documents showcase its plans to take on Amazon

Walmart hit some of its ecommerce goals and may lean on tech innovations and initiatives to compete more directly against Amazon.

RESEARCH IN FOCUS

Digital-Only Bank Account Holders Forecast

Insider Intelligence looks more closely at the difference between direct banks and neobanks and the pressures and advantages unique to both camps; and also at the macroeconomic factors we expect to affect digital-only banks in all three geographies included in this forecast.

Get the full report →

The Payments Ecosystem

Insider Intelligence examines the payments ecosystem today, as well as the pandemic’s impact on growth drivers and the industry’s future. The report traces the path of in-store and online payments from processing to settlement across key stakeholders.

Get the full report →

Small Business Point-of-Sale Battle

Insider Intelligence will lay out the difficulties SMBs are facing during the pandemic and the opportunities POS providers have in helping firms address those pain points.

Get the full report →

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