Digital Shopping, Remittances, Mastercard’s FinTech Accelerator Top This Week’s News

The PYMNTS Weekender is here to catch you up on the latest news at the end of another busy work week. We have deep dives on digital shopping, remittances and Mastercard’s FinTech accelerator program. 

News

Mastercard Announces Newest Participants in FinTech Accelerator Program

Mastercard has unveiled the newest class of FinTech upstarts for its Start Path accelerator and partnership initiative. The firm will work with the companies for six months to find ways in which they can harness its technology, knowledge and network to propel their businesses forward.

Airbnb Pushes IPO Date

Airbnb has reportedly delayed – for a few days at a minimum – a filing that’s been pegged as perhaps the year’s biggest and most-awaited U.S. initial public offering (IPO).

Visa Unveils FinTech Partnership Program in Europe

Visa is launching a new program set at linking European financial institutions (FIs) and retailers with state-of-the-art digital payment offerings. Fintech Partner Connect will “support new ways for businesses and consumers to seamlessly and securely pay, get paid, send money and more,” according to a representative for the firm.

An Open Road for Open Banking?

Almost three years following the debut of the second Payment Services Directive (PSD2) in Britain, signs exist that the opening of data flows between financial services firms had led to formidable innovation, and more regulation might be ahead.

Retail 2022: Digital Delivered in a Physical World

The retail success stories of 2022 and beyond will be those that harness digital tools to make it more efficient for shoppers to get what they need via digital channels, in addition to getting what they want through a special and valuable in-store experience.

Trackers and Reports

New Data: More Than 40 Percent of U.S. Consumers Shop Through Digital Channels … and Stay There

The far majority of shoppers in the United States now know what they wish to purchase before they start transacting – and, after they’ve made their decisions, they are much more likely to reach for their computers and mobile technologies instead of their car keys. The proportion of all consumers making purchases with digital devices has surged from 27 percent in March to 42 percent.

NEW DATA: 10 Key Features for Boosting Cross-Border Conversion Rates

PYMNTS’ research indicates that there are a number of features that can go a long way toward helping digital product eCommerce merchants raise their conversion rates in other countries, such as IP recognition technology.

New Report: Banking-as-a-Service Takes Friction out of Remittances

Legacy banks often send remittances through correspondent banking networks, which can increase expenses. Research suggests that mobile-based offerings may provide a less costly alternative, and a number of FIs and FinTechs are interested in implementing these offerings so they can win over more clients.

Fun, Cool and Otherwise Interesting

What’s Ahead for Financial Services in a Biden Administration? 

The transition into a new presidential administration brings about changes, with some slow and some sweeping shifts in financial services. COVID-19 might be top of mind, and stimulus packages could be high on the incoming administration’s plans.

Dine-In Restaurant Stocks Rally on Vaccine News, But Food Aggregators and Pizza Chains Sink  

News earlier this week that Pfizer’s experimental coronavirus vaccine has provided a preliminary 90 percent success rate sent consumers’ hopes rising, sparking a rebound in stocks of dine-in eateries and other firms connected to how we used to live.

Is a New COVID-19 Stimulus Coming Soon … Or Are the Odds Less Than Stimulating? 

A new U.S. federal coronavirus stimulus could be in the cards, and might be even probable, but how much – and who will receive it – is not as clear.

As Lenders Tighten Standards, Defaults on the Horizon?

The Federal Reserve has said there may be debt defaults ahead, in addition to what may be “significant declines” in asset prices.