#BigTech / Why Google Pay’s reboot signals a major land grab on financial services

… with the relaunch of the Google Pay app, it looks like Big Tech’s competitive threat to both legacy banks and fintechs is about to be realised… Here are five reasons why the banking world, including fintech challengers, needs to sit up and take notice: 1. Google’s scale and ubiquity The first key weapon inContinue reading “#BigTech / Why Google Pay’s reboot signals a major land grab on financial services”

#BigTech / Five Things You Need to Know about Walmart’s Foray into Fintech

What is Walmart doing? Walmart announced on Monday that it is building a fintech startup that will “develop unique and affordable financial products for Walmart employees and customers.”… Why are they doing it? Walmart already offers financial services to its customers in the form of products like its prepaid debit solution, the Walmart MoneyCard, asContinue reading “#BigTech / Five Things You Need to Know about Walmart’s Foray into Fintech”

#BigTech / Google Pay debuts cash back rewards, enabled by Fidel API

Google Pay is tapping Fidel, a U.K.-based startup with an API that allows developers to build products and experiences on top of major card networks, to offer cash back rewards for its users. The merchant-funded offers that live in the Google Pay app are supported by Fidel’s API, which captures real-time transactions from linked paymentContinue reading “#BigTech / Google Pay debuts cash back rewards, enabled by Fidel API”

#BigTech #CryptoCurrency / Facebook’s Libra To Make 2021 Debut As Single, Dollar-Backed Coin

Facebook’s digital currency, Libra, could launch by January, but in a "limited format"… Libra, which has been in the works for over a year, initially planned to roll out one synthetic coin backed by a multitude of currencies. Then the plan had to be downgraded in April, when regulators’ concerns forced a shift to aContinue reading “#BigTech #CryptoCurrency / Facebook’s Libra To Make 2021 Debut As Single, Dollar-Backed Coin”

#BigTech / Google Cloud is creating a new type of digital banking platform with this lender

Google Cloud is joining with a small British bank to develop a new type of platform that mixes the personal relationships of traditional banking with the technology and infrastructure of new digital banks. Cynergy Bank says that its partnership with Google Cloud and information technology services provider Wipro will allow it to become a “digitalContinue reading “#BigTech / Google Cloud is creating a new type of digital banking platform with this lender”

#BigTech / Google Fires Next Salvo in Big Tech’s War on Banking

Google has loosed a double-barreled challenge on the financial services business. First, the big tech announced major advancements in functionality for its Google Pay digital wallet. Second, it simultaneously revealed more details about its partnership expansion with banks and credit unions, which now has a name: Plex By Google Pay. Taken together, the expanded GoogleContinue reading “#BigTech / Google Fires Next Salvo in Big Tech’s War on Banking”

#BigTech / Google Pay unveils integrated banking challenger Plex

Google has revealed the creation of Plex, “a new mobile-first bank account integrated into Google Pay”… Plex is a checking and savings account. Google says the banking challenger will have no monthly fees, overdraft charges or minimum balance requirements… As well as announcing Plex, Google Pay has also undergone a major revamp; The overhaul seesContinue reading “#BigTech / Google Pay unveils integrated banking challenger Plex”

#BigTech / Google rolls out mobile bank accounts via updated Google Pay app

The rollout is being conducted as part of its partnership with Citi and Stanford Federal Credit Union. [VP of payments at Google:] “People do almost everything on their phones today, but for many, the way they save, pay and engage with their bank has remained unchanged.” … Google is hoping to change that with Plex,Continue reading “#BigTech / Google rolls out mobile bank accounts via updated Google Pay app”

#BigTech / Apple ‘an emerging contender in the fintech space’

Tech behemoth’s payments platform to surpass $1 billion revenue in FY2020… Apple’s payments platform contributed to record-high revenue in its fiscal fourth quarter and soon could soar into the multibillion-dollar stratosphere… [Krish Sankar, managing director and senior research analyst at investment bank Cowan and Co.:] “While Apple has portrayed these digital services as complementary toContinue reading “#BigTech / Apple ‘an emerging contender in the fintech space’”

#BigTech / Amazon, Apple On Track To Rake In $100B In Q4

The 2020 holiday season could be a record-breaker for Amazon and Apple, both of which stand to report over $100 billion in revenue for the fourth quarter… In results last week, Amazon predicted revenue forecasts of $112 billion to $121 billion for the period ending in December. Wall Street is looking for revenue of aroundContinue reading “#BigTech / Amazon, Apple On Track To Rake In $100B In Q4”