Now that JPMorgan, the biggest bank in the U.S. based on assets, has launched its own cryptocurrency, it’s clear the blockchain is leaving its mark on global payments. The JPM Coin, which is the bank’s new digital currency, may be reserved for the firm’s clients, but it’s a sign that blockchain technology has disrupted the entire payments space. JP Morgan is the first leading U.S. bank to launch its own cryptocurrency, but it probably won’t be the last. Continue reading JPM Coin Proves Blockchain Technology Has Disrupted Payments
Tech innovation in the payment space knows no bounds. Among the trends, traditional payment companies are pursuing M&A with their fintech counterparts in order to remain relevant in a changing market landscape. Others are launching new products. Even tech giant Apple is jumping in the fray, most recently pouring resources into a new credit card. Payment startups, meanwhile, are making plans for their public market debut in a pipeline of IPOs. Even while uncertainty has gripped the global economy, the payments segment seems to be doing just fine. Continue reading Tech Innovation Heats Up in the Payment Space
Contactless cards have already taken the payments industry by storm. The rise of the online world has made payments faster and more convenient than ever. Now the industry is embracing the next wave in this revolution, which involves collecting biometrics data and storing it on a contactless payment card. As a result, consumers can pay using a fingerprint, handprint, iris identification, or voice recognition at the point-of-sale. Continue reading Biometric Contactless Cards Take Payments to the Next Level
Fintech covers a wide swath of companies that deliver technology innovation to the financial industry. Consumers have embraced fintech, also known as “on-demand finance,” thanks in large part to the rise of mobile devices and the shift to cloud computing. Billions of dollars in investments continue to pour into this space giving startups and legacy players alike a chance to shape the future of financial services.
Digital payment startups are among those at the forefront of the fintech movement, having disrupted the global landscape and continuing to grow. The following trends reveal key ways in which fintech space keeps evolving. Continue reading As Fintech Matures, New Trends Emerge
Challenger banks have struck a chord with customers and investors alike as the tech-savvy and more nimble alternative to traditional financial institutions. Also known as neo banks and upstarts, challenger banks are a product of the financial technology (fintech) revolution born from the financial crisis, and no single group poses more of a threat to their legacy bank counterparts. Continue reading As Challenger Banks Mature, Headwinds Emerge