Fintech is one thing. Banking competition from big technology brands like Apple, Amazon and Facebook? That’s our focus in this week’s Must-Reads. Marquee tech brands are venturing into digital payments, crowdfunding and more. Is this the new frontier for financial services?
Now in Beta: Apple’s Answer to P2P, Apple Cash
PYMNTS
A beta version of peer-to-peer payments via Apple’s Messages app are now available to the public. Will the allure of Apple Pay on Messenger lure users into using more P2P?
Bank of Amazon? Is the Financial Services Industry Ready for This?
Bloomberg
Now that Amazon runs nearly every facet of human life, why not add banking services to the mix? Keith Noreika, who is serving as the acting leader of the Office of the Comptroller of the Currency, indicated recently that the regulations separating commerce from banking might be ripe for a review.
Could Messenger Payments Be a Tipping Point for Digital Payments?
Payments Journal
Facebook announced that payments via Facebook Messenger will be available in the UK next. Will social media tip P2P payments toward a new critical mass?
Amazon Cash Comes to 7-Eleven
PYMNTS
Amazon Cash – which lets consumers top off their Amazon.com balances with cash at retailers – has debuted at 8,000 7-Eleven locations.
PayPal Creates Venmo-Style Group Payments with Money Pools
Payments Journal
If Venmo and crowdfunding had a baby, it would be PayPal’s Money Pools, a new service that lets people create fundraising pages that let contacts contribute toward group trips and gifts or raise money for projects.
