Tagged: consumer behavior

Banks in Mexico May Follow Global Fintech Trends by Integrating International Payment Providers, Personal Finance Tools, Industry Exec Predicts

Fintech industry professionals believe that this year we’ll begin to really take advantage of the accelerated digital technology adoption and ongoing development that surfaced in 2020 due to COVID-19. The Fintech sector has taken a major step forward with the global user base growing significantly… Read More

Digital Payments in Saudi Arabia Surged 75% YoY as Consumers Began Shopping Online More Frequently due to COVID

Digital payments in Saudi Arabia surged by 75% last year, as consumers increasingly began shopping online following the COVID-19 outbreak. Meanwhile, cash withdrawals from ATMs and other payment points declined 30% during the same time period. Point of sale (PoS) refers to a location where… Read More

Philippines based Digital Wallet GCash Reaches PHP 1 Trillion in Total Transactions During the Past Year

Philippines-based digital wallet GCash reportedly reached PHP 1 trillion (appr. $20.8 billion) in total transactions for the year 2020, which represents a 254% year-over-year (YoY) increase in transfers. Globe Fintech Innovations Inc. (Mynt), which manages GCash, is part of the portfolio firms of 917Ventures (one… Read More

Mobile Payments in Switzerland are Becoming More Widely Adopted due to Permanent Changes in Consumer Behavior: Study

Mobile payments adoption in Switzerland had not really picked up when compared to some other markets, however, this has changed during the past couple years, according to a study by the Lucerne University of Applied Sciences. Recent data shows that 40% of the Swiss population… Read More

Fintech SoFi Notes that Q4 2020 M&A + IPO Spike was Much Higher than 2008 Financial Crisis and Other Periods of Downturn

San Francisco-based SoFi, a financial services firm that helps people “get their money right—save, spend, borrow, and invest in one app,” has noted that 2020 was a year to remember. Industries were forced to adapt to changing consumer behavior, capital markets fluctuated wildly, and people… Read More

Contactless Payments Limit Might be Increased from £45 to £100 as Britain Could Begin Moving Away from EU Guidelines

The limit on contactless payments might be increased from the current £45 to £100 in one of Britain’s very first steps away from European Union guidelines. The upper limit on touch-free or contactless payments might be raised to £100 after the suggestion was made to… Read More

Allison Beer, Head of Digital at Chase, Reveals that More than Half of the Bank’s Digitally Active Clients are Over 50 Since Start of COVID

As the COVID-19 pandemic continues to affect billions of people globally, digital platforms remain the most accessible and safest way for many consumers to take care of their daily tasks including banking. New users have had a lot of time during the Coronavirus crisis to… Read More

Fintech Professional Says Challenger Banks are Disrupting Banking Sector in a “Big Way” by Improving Customer Experience

Mr. Potter Banker Banking (1)

Last year, we saw many banking challengers offering services to customers who might not have been satisfied with their traditional bank. Many more people also began to use online banking services due to the COVID-19 pandemic which forced many physical business locations to shut down…. Read More

Google India Exec Says AI Could Add $500 Billion to Economy, Google Pay Claims 43% Market Share

Artificial intelligence (AI) alone could potentially add $500 billion or half a trillion dollars to India’s economy, according to Google India Country Manager and VP, Sajay Gupta. Gupta, who has previously worked as MD of Star India and The Walt Disney Company India, noted (while… Read More

Wealth Management Firm Addepar Reveals that Investors turned Bearish on Equities for Record 7 Consecutive Months from April to Oct 2020

Wealth management tech platform Addepar notes that the broader financial industry had to deal with “extraordinary challenges.” The Fintech firm pointed out that local economies and communities have been “deeply affected by the fallout from this global pandemic.” The Addepar team now believes that it’s… Read More

Digital Banking: Fintech Unicorn Revolut’s Customers Spent 2.6x More on Online E-Commerce than On In-Store Purchases

Digital bank Revolut notes in its end of year review that “it goes without saying that 2020 has been a year like no other.” It has definitely impacted all our lives, including how we spend our money and the way we save, the Fintech firm… Read More

Digital Transformation: Chinese Consumers are Increasingly Using Smartphones to Make Payments as Thousands of Bank Branches have Shut Down

The long lines in front of ATM machines have now become a rare sight as Chinese consumers are increasingly using their smartphones to complete transactions, instead of making cash payments, according to a report from China Daily. Many people claim they can’t even recall when… Read More

Nearly 20% of Australians Now Own Cryptocurrency, As Attitudes Toward Bitcoin and Other Digital Assets Improved: Survey

As the price of Bitcoin (BTC), the flagship cryptocurrency, surpasses its previous all-time high (and recently breaking past the $24,000 mark), a new report reveals that “attitudes” toward the digital asset are “improving” with nearly one in five or 20% of Australians now “owning some”… Read More

Alon Rajic: Co-Founder at Israel’s Finofin Ltd Discusses Fintech Trends and Impact of Brexit on Global Money Transfer Business

The COVID-19 pandemic reshaped consumer mentality and habits, especially as it relates to people’s financial needs. But it remains unclear what new habits born out of necessity are here to stay and what will vanish as the pandemic grinds to an eventual halt. We recently… Read More

Only 10% of UK Residents Trust Neobanks or Digital Challengers like Monzo, Revolut, Starling: Survey

Although digital banking challengers have managed to onboard millions of new customers during the past few years, they’re still not completely trusted by UK-based consumers. Most of the nation’s residents don’t think that these new digital lenders will be able to maintain operations in the… Read More

Financial Management App Provider Digit Adds Automated Investing Tool

San Francisco-based Digit, a financial management and savings company, recently added an automated investing tool to its app. Digit describes itself as a financial wellness expert that has assisted its customers with automatically saving around $5 billion and paying down more than $150 million in… Read More

Hong Kong’s Fintech focused Index, which Quantifies Sentiment on Industry Developments, Falls to Historic Low Following COVID-19 Outbreak

The Hong Kong Fintech Buzz Index (FBI), a quarterly index that aims to represent a “quantified sentiment” of the local Fintech-focused news updates in local Chinese news media, fell to an all-time low of 93.5. The index was calculated by analyzing 1,299 news articles that… Read More

Many More UK Residents are Buying Bitcoin and Other Cryptos as British Pound falls to Lowest Level Against USD in 35 Yrs: Survey

Paxful, a leading peer-to-peer cryptocurrency marketplace, recently published the results of a survey performed with assistance from OnePoll on “the state of the financial climate” in the UK. As noted in a blog post by Paxful, sentiments include recent notions about the country’s traditional banking… Read More

Survey Shows Buy Now, Pay Later Services Might Lead to UK Consumers Going into Debt due to Financial Mismanagement

A new survey from Capco has revealed that consumers must receive proper information and educational materials so that they can responsibly use Buy Now, Pay Later (BNPL) platforms and services. According to the study, BNPL services must also be regulated properly. Capco’s research found that… Read More

Digital Payments Surge in 2020, while Distributed Ledger Tech is in Focus for Digital Currency Solutions, Efficiency Enhancements: Report

Capgemini has released a new report titled, Payments – Top Trends 2021: Drivers, Opportunities, and Risks Shaping Financial Services. While highlighting key Fintech trends in the payments sector, the extensive report noted that Payments-as-a-Service has gained significant “traction” among small- and mid-tier institutions. It added… Read More

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