The Durbin Amendment to the Dodd-Frank legislation largely did way with #debit reward programs (pour one out for PerkStreet.) Dodd-Frank is now under assault from all quarters in Washington, but looking fairly strongly entrenched. Still, debit #rewards programs are making a #comeback with the release of GoBank‘s #Uber #Visa debit #card, announced today. The GoBank […]
Bank Innovation
EXCLUSIVE— One of the largest draws for a credit card is its #rewards program—an area #banks have been competing in for decades. But will the approach #need to #change as more consumers chose to bank exclusively on #mobile? For Citibank, the answer is no. The bank is going to focus on integrating the rewards program […]
Bank Innovation
Bank #JPMorgan #Chase is announcing new #cashback #rewards tied in with the use of #mobile wallets for the first quarter of 2018, in an offering that will allow customers to “try—and enjoy—the convenience” of paying via mobile. This is according to General Manager for Chase Freedom, BJ Mahoney, in a bank press release, which noted […]
Bank Innovation
EXCLUSIVE – October saw a plethora of new #credit cards. From traditional #banks such as HSBC releasing its Premier World Elite Mastercard Credit #Card, to ride-share app Uber’s first foray into the market, it seems like everyone is interested in launching a new credit card promising to deliver what the other doesn’t. The distinction each […]
Bank Innovation
#Banks are taking the battle for millennial customers where it belongs: #mobile. Citibank and JPMorgan #Chase users will now be able to link cards to #PayPal via mobile, allowing customers of both banks to add cards before paying online and in-store via the PayPal mobile wallet, both banks announced today. These new mobile capabilities also […]
Bank Innovation
It’s no secret that #mobile wallets, although well-intended, haven’t gained much traction among consumers. In fact, a recent Accenture study suggests that 56% of North American consumers are aware of mobile payment services, but only 19% use their mobile #wallet regularly. After all, consumers are not ready to give up their cash and card-filled wallets quite […]
Bank Innovation
#Cryptocurrency and #blockchain offer many potential benefits to banking customers, such as faster and more secure cross-border payments. But how about bank employees? A software development company Softjourn demoed “SJ Coins” (or Softjourn Coins)– a #rewards system for employees&8211; at the FinDEVr conference today. “Employees received an account and an equal number of coins; the first thing they could […]
Bank Innovation
Mitsubishi UFJ Financial Group Inc. (#MUFG), the parent company of the Bank of Tokyo-Mitsubishi UFJ, has begun work on a new #blockchain trial.
EMV isn’t the only innovation coming soon to a pump near you. The financial software company FIS, which says it has been in the loyalty space for over twenty years, has just launched another such #program, starting with gasoline sales. Customers in the program, which is currently offered at participating BP gas stations,Read More
Bank Innovation
Reply