Visa launches Commercial Pay, PayPal drives Bitcoin rally, Square’s 2021 SMB payments survival guide

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November 23, 2020

The 2021 New Merchant Business Models Playbook

New Report: Square Speaks Out On SMBs’ 2021 Payments Survival Guide

SMBs that have survived the impacts of the pandemic are now confronting new hurdles: winter and a potential second COVID-19 wave. In the 2021 New Merchant Business Models Playbook, Katie Swett Miller, eCommerce product lead at Square, runs down which payments and tech innovations restaurants and retailers must take into the new year — and what they should leave in the rearview mirror.

 

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Open Banking

Mastercard’s Vosburg: Trusted Intermediaries Will Drive Consumer Data Aggregation

With its recent acquisition of data aggregator Finicity, Mastercard has moved into the business of providing transparency and the secure exchange of data between banks and their customers. Craig Vosburg, Mastercard’s president for North America, tells Karen Webster that the consumer needs a trusted intermediary as the U.S. inches toward open banking.

 

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Merchants Guide To Navigating Global Payments Regulations

NowRx: Digital Identity Benchmarks Help Healthcare Industry Set Tone For Privacy

The rise of telemedicine services is forcing a greater need to secure the data that is exchanged. In this month's Merchants Guide To Navigating Global Payment Regulations, Cary Breese, CEO of prescription delivery service NowRx, discusses the pandemic's impact on digital identity and privacy preferences — and how the healthcare industry is setting the benchmark for emerging privacy regulations.

 

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Check Fraud 

Ingo CEO: Banks, FinTechs Need Better Data To Fight Mobile Check Deposit Fraud

Check fraud costs banks billions and now banks are shutting off access to all but a very few to protect their downside. Ingo Money CEO Drew Edwards tells Karen Webster that it’s time to

re-examine mobile check deposit, and how to make it safe for the 95 percent of the customers who want to use it  and are being shut off over fears of fraud.  

 

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Banking Innovation 

Figure CEO: Figure Pay, National Bank Charter Will Boost Financial Inclusion 

Figure Technologies is getting a national bank charter as part of its bid to foster financial inclusion, introduce new digital-first lending and payment products and eye blockchain as a rail. CEO Mike Cagney tells Karen Webster how that will pave the way for innovation like the forthcoming Figure Pay.

 

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KLW Commentary

Google’s Super App Wakeup Call

In June 2019, a third of U.S. consumers said sign them up for a super app experience, and Google and Amazon (in that order) were whom they trusted to deliver it. Less than a week ago, Google Pay introduced its redesigned app, one that Karen Webster says looks like and acts just like one. While it’s far too soon to tell whether Google Pay is super enough to become the go-to super app, she says it raises the bar for everyone. Especially Apple.

 

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