In today’s top payments news, illegal activity involving cryptocurrency is at a record high, U.S. airlines are cancelling all flights to and from mainland China due to the coronavirus outbreak and Starbucks reported 17 percent mobile order growth in its Q1 2020 earnings report.
Illegal activity concerning cryptocurrency is at an all-time high, particularly involving drug sales and ransomware cyberattacks. New reports say 1 percent of all Bitcoin transactions involve criminal activity, and while this doesn’t sound like a lot, it’s almost double from 2018.
Following a move by British Airways, U.S. airlines are canceling all flights to and from mainland China due to the coronavirus outbreak, which had claimed the lives of 132 people as of Tuesday, Jan. 28.
Most customers still visit bank branches, but prefer digital in-branch experiences, pushing FIs to undergo digital transformations to provide the best customer engagement possible. In this month’s Digital-First Banking Tracker, Kyle Barnett, COO for personal and small business banking at BMO, discusses how these technologies have also allowed staff to focus on more complicated transactions, improving branch efficiencies and reducing costs.
Karen Webster sits down with Mastercard and TabaPay to delve into how Mastercard’s Accelerate program has led to cross-pollination of insight and technologies that use in-place rails to get money where it needs to go — instantly.
Convenience is the formula of success for Starbucks, which saw 17 percent growth in mobile order and pay transactions in the U.S. in its first quarter earnings for the 2020 fiscal year. The company also added a record 1.4 million customers to its 90-day active Starbucks Rewards member base, ending the quarter with 18.9 million active members in the U.S., a 16 percent year-over-year rise.
eBay continues its search for a new CEO, seeks new revenue from StubHub and possibly the sale of its classifieds unit, and awaits negative impact of online sales tax imposed by states in the U.S., according to company officials on a webcast on Tuesday (Jan. 28) following its Q4 earnings release.
Mastercard expressed confidence that new payment flows such as instant payments and contactless payments will continue to uptick, as it posted fourth quarter results on Wednesday (Jan. 29) that showed increased spending on cards and across borders up double digits.