In today’s top news, Visa and PayPal have expanded their real-time payments partnership, and Credit Suisse is launching a digital banking app. Plus, Reliance Industries has offered to sell a $20 billion stake to Amazon.
Visa and PayPal have expanded their partnership to boost the sending and receiving of funds through PayPal, Venmo or Xoom. The collaboration extends PayPal’s Instant Transfer service, which uses Visa Direct, Visa’s real-time push payments platform, for real-time payments.
Credit Suisse is planning to launch a CSX digital banking app that will offer free foreign transactions and a free online debit card that will allow customers to get a home loan, make and manage investments, and plan their pensions.
Reliance Industries Ltd. has offered to sell a $20 billion stake in its retail division to Amazon.com Inc. According to reports, Reliance owner and billionaire Mukesh Ambani is willing to sell up to a 40 percent stake in the retail business to the world’s largest retailer.
Facebook CEO Mark Zuckerberg, speaking with “Axios on HBO,” said he believes Apple's App Store "deserves scrutiny," and that some of the company’s monopolistic behavior raises questions.
Chargeback options are meant to protect consumers, but shoppers also sometimes file claims over purchases they simply don’t recall or don’t want to pay for, costing retailers $35 billion in 2019 alone. In the FI Fraud Decisioning Playbook, Mohamad Tayba, senior manager of fraud at Alliant Credit Union, explains how advanced analytics tools and cross-channel transaction verification can help chargeback investigations clear up confusion and expose misbehavior.
Consumers are increasingly opting to open accounts and interact digitally with financial institutions, but nearly three-quarters still resist when banks ask them to take a selfie to authenticate themselves online. The FI’s Guide To Improving Digital Onboarding reports the results of a PYMNTS study of more than 2,000 U.S. consumers, shedding new light on what would ease their concerns.
Just as the pandemic has accelerated the adoption of new eCommerce technologies, it might also hasten the demise of Black Friday as we’ve known it.