Today in the payments news roundup, Visa has made multiple new partnerships to digitize and accelerate the payouts of insurance claims. Also, bridge millennials offer profound insight into the future of connected commerce. And MoviePass, which let customers see up to a movie a day in theaters for under $10 a month, has shuttered.
Visa has made multiple new partnerships to digitize and accelerate insurance claims payouts. The global payments company is making disbursements faster to Erie Insurance and PNC Bank customers. It is also working with InsurPAY by Invenger Technologies to help enable real-time disbursements for American Family.
MoviePass has shuttered following an official two-year run and millions of users. The subscription offering let customers see up to a movie a day in theaters for under $10 a month. The service was launched in 2011 but was largely unknown until 2017 when it was purchased by the publicly traded entity Helios + Matheson.
An Accenture report and press release circulated on Monday (Sept. 16) noted that banks could lose as much as $280 billion in revenue by 2025 as more startups penetrate the $1.5 trillion global payments market with free services. While financial institutions currently control the international payments sector, startups will continue to crowd the market.
Libra Association representatives are preparing to face questioning by 26 central banks over the potential peril Facebook's proposed digital currency poses to financial strength. The Bank of England and the U.S. Federal Reserve are among the banking regulators that will convene with Libra on Monday (Sept. 16).
The just-released annual PYMNTS/Visa How We Will Pay 2019 identifies marked shifts in the attitudes, behaviors and expectations for the role apps, devices and purchasing channels play in how U.S. consumers shop and pay — today and in the future.
Bridge millennials, who are 30- to 40-year-olds in the first generation of connected consumers with spending power, offer profound insights into the future of connected commerce as well as the apps and devices that make those experiences possible.
Approximately three in 10 — or 31 percent — consumers reported that they owned at least one voice-activated device in 2019, which is up from 14 percent in 2017. And roughly one in every 10 consumers today uses voice-enabled apps as well as devices to browse, shop and buy goods online.