Category: FinTech News
FinTech NewsBanks have been working to enhance their security and verification — especially as more and more customers do their banking online and on mobile phones. While they may be effective in preventing fraud, some of these methods have also proven pain points for consumers, putting banks in a lose-lose situation.
FinTech NewsAffirm says it prides itself on being transparent about their fees. They explain, "Unlike payment options that have compounding interest and unexpected costs, Affirm shows customers upfront exactly what they’ll owe — with no hidden fees and no surprises." As a result Affirm's Apple Pay integration could be a big deal for FinTech, retailers, and consumers alike.
FinTech NewsCelsius says it's "building a P2P decentralized lending & borrowing platform" that will not only allow users to borrow against their cryptocurrency holdings but also earn interest for keeping their coin on the platform. As their site explains, users will be able join the lending pool by adding their cryptocurrency to Celsius and earning daily interest.
FinTech NewsFreedomPop claims that their Accelerate Platform has one of the highest conversion rates on the web with 50% of customers purchasing at least one paid service. By comparison, other "freemium" modeled companies such as Spotify reportedly have conversion rates less than half that. As a result it's easy to see why businesses in other spaces — especially in the financial field — would want to take Accelerate for a spin.
FinTech NewsNow that Square Cash has laid its card on the table, it will be interesting to see if Venmo and others follow suit. Furthermore Square has proven to be a fascinating FinTech to watch as they've never seemed afraid of starting auxiliary businesses that fall under the financial umbrella. With the potential Square Cash now shows, that "one-to-watch" status isn't likely to change anytime soon.
FinTech NewsWhen Apple first debuted their NFC-powered Apple Pay option in 2014, it was seen as a major breakthrough for mobile payments that would usher in a new era for the technology. However a mere 16% of active iPhones in the world currently utilize Apple Pay.
FinTech NewsFeatures like this may seem like a gimmick but there may be more to them than that. Beyond giving traders an extra way to buy and sell stocks, these chatbots may also allow those looking at investing for the first time an easy way to start gaining knowledge about the process.
FinTech NewsSenate Bill 1091 calls for the Arizona Department of Revenue to begin accepting Bitcoin and other crypto payments by 2020. Once the cryptocurrency transfer was completed, the amount would then be converted to U.S. dollars within 24 hours.