In today’s top news, J.P. Morgan is launching a retail bank in the U.K., and Apple hit its first $100 billion-plus quarter. Plus, Vistaprint has teamed with PayPal to bring QR codes to SMBs.
J.P. Morgan Chase plans to expand in the United Kingdom with the rollout of a digital retail bank in London, which will have offerings and functionalities designed to meet British customers’ requirements through a mobile app.
Hitting its first $100 billion-plus quarter, Apple took advantage of its services sector and the stay-at-home connected economy to set sales records.
Marketing and design firm Vistaprint is partnering with digital money transfer company PayPal to advance the adoption of QR codes for contactless payments. With the partnership, Vistaprint can develop solutions to give small businesses the ability to add contactless payment options.
LoanDepot, which services mortgage and other consumer loans, will be seeking as much as $315 million in its initial public offering (IPO), according to a Securities and Exchange Commission (SEC) filing.
Consumers are more likely to use credit than debit to pay online and there’s a compelling reason why: They are twice as likely to believe that debit cards expose them to online payment risks than credit cards. In the Online Security And The Debit-Credit Divide Report, PYMNTS surveyed 2,500 U.S. consumers to understand the key factors — including security — that drive payment preferences amid the digital shift.
A new report contends that remittances do more to stimulate economic growth in emerging markets than foreign investments — to the tune of 40 percent of every dollar. Raj Agrawal, executive vice president and chief financial officer of Western Union, told Karen Webster that the “remittance effect” could drive significant gains for those markets and fuel innovation that serves these global citizens.
Corporates need help managing back office and treasury functions in an always-on cross-border world. Banks, in seeking to bring those services in house, end to end, have embraced a range of tie-ups and buy-ups of FinTechs to get there. The latest salvos center on payments processing.