The PYMNTS Weekender has you covered with any news you might have missed over the past week. Among the stories we ran over the past few days is a deep look at the problems with Chase Pay, new information about AI fighting fraud, new research into the gig economy and subscriber churn, and a feature about the risks of online disaster relief efforts.
Top News
Partly Shuttered, Chase Pay Didn’t Pay for Chase In-Store
In the quest by banks to embrace the digital (payments) age, casualties mount, here and there. Call it trial and error in bits and bytes. So it is that JPMorgan Chase will partially shut down its Chase Pay app – the bank’s third digital offering in as many months to fall by the wayside or shut down.
Visa Debuts AI-Powered Fraud Fighting Tools
The new features are meant to help stop and contain payment fraud and to protect the payments ecosystem. There will be no cost for clients; the company said it is one of the many benefits available to Visa merchants and financial institutions.
BoA Looks to Create Multi-Currency Digital Wallet
The North Carolina-based bank filed a Multi-Tiered Digital Wallet Security application in February 2018 with the United States Patent and Trademark Office, according to a report.
LendingClub CEO On Interest Rates, Credit … and the Bank Charter Quest
Conventional wisdom may hold that alternative lenders – those companies that leverage data and analytics, along with various funding models matching investors with borrowers – could be hit harder than more traditional lenders by a volatile rate environment. But conventional wisdom might be wrong.
Mastercard: Driving the Gig Economy’s Future Through Pay Advance
While traditional temporary and contract workers are not exactly new in the economy, the modern gig economy enabled by mobile technology is something of an economic force all its own.
Trackers and Reports
Trending: FIs Use AI to Challenge Challenger Banks
Legacy banks have their work cut out for them if they want to survive another century as key players in the digital banking world.
How Merchants Can Reverse the Subscription Churn Curse
In many ways, consumers are living in a golden age of subscription commerce, with streaming services like Netflix offering award-winning series and movies, while Amazon Prime provides members with access to a growing bundle of content and services.
Fun, Cool and Otherwise Interesting
Can Digitally-Read Emotions Play a Role in Payments and Retail?
Emotions play a significant role in all human endeavors, and that certainly goes for payments and commerce. And even as those two activities become ever more digital and mobile, emotions are still a focus. Indeed, the role of emotions in payments and commerce in this digital age looks sure to grow even more.
The Grocery Report: New Products, New Partnerships and New Channels
Once upon a time, mothers everywhere told their daughters that the way to a man’s heart was through his stomach. Modern-day research even proves that point: 80 percent of those who prepare home-cooked meals regard them as an “act of love.”
Target Touts Omnicommerce as the Secret to Its Big Earnings Beat
Target credited its recent upgrade of buy online, pick up in store and its Shipt same-day grocery delivery business as among its leading drivers of growth, adding 1.5 percentage points to its overall same-store sales growth.
When Disaster Strikes, Digital ID Is Front and Center
Dealing with the online aspect of disaster relief requires a new, tighter approach to ID verification and authentication.
