Emoji Passcodes: The Future of Secure Banking?
In a bold and quirky twist, British company Intelligent Environments has introduced emojis as a replacement for traditional four-digit PIN codes in online banking. This innovative way of securing banking information uses a staggering 44 emojis, creating countless possible combinations. The company claims this makes their Emojii Passcode service significantly more secure than the traditional system of numbers! Who knew your banking access could be so expressive?
Bond Street Raises $110M for Small Business Lending
In a move that’s raising eyebrows—and capital—Bond Street has successfully secured $110 million in funding, directed towards bolstering its small business lending operations. Led by Spark Capital and investment bank Jefferies, this financing round is set to help Bond Street forge new partnerships and potentially roll out a line of credit products. Small businesses everywhere just might breathe a sigh of relief!
FinTech’s Global Shift: Asia & Africa Take the Lead
Recent analysis from the Payment Innovations Report paints a bright picture for the FinTech sectors in Asia and Africa, claiming they are outpacing established markets in digital payment innovations. In fact, it suggests that Europe is lagging behind! If your Wi-Fi signal is stronger than your banking system, it’s time to consider relocating!
New Kid on the Block: The Currency Account
Launching on Fleet Street, London, The Currency Account aims to shake up foreign exchange transactions for consumers and businesses alike. With the ability to store multiple currencies and facilitate remittances and travel cash withdrawals, it presents a viable alternative to traditional banks. It’s like having a pocket-sized ATM—minus the fees!
BitPay: Banks Over Merchants
In an intriguing shift, the Bitcoin payment processor BitPay has announced a strategic pivot away from servicing merchants to focusing on large financial institutions. By aiming to streamline and secure transactions for banks, BitPay is positioning itself at the intersection of traditional finance and cryptocurrency. Talk about a plot twist!
Goldman Sachs Gets Into the Lending Game
Goldman Sachs is looking to make waves in the lending market by targeting everyday consumers. The investment giant is set to launch online loan services that will directly compete with emerging FinTech platforms like LendingClub. This could be the start of a very interesting rivalry! Wonder who will come out on top—money or tech?
‘Dope’ Hit the Big Screen with Bitcoin Payments
The upcoming comedy ‘Dope’ has made a historic leap into the fintech world by becoming the first movie to accept Bitcoin for ticket sales, thanks to Movietickets.com. Over 900 cinemas across the U.S. are embracing this change, bringing a whole new meaning to the phrase “going to the movies”. Time to grab popcorn and a digital wallet!
Google and Ingenico: Cross-Border eCommerce Collaboration
In a bid to enhance global eCommerce opportunities, Google has partnered with Ingenico Payment Services. This alliance, known as Export Accelerator, aims to help European merchants expand their reach. By leveraging Google’s expertise in online marketing and Ingenico’s payment technologies, it’s a powerful duo that could turn the tide for many businesses.
Anticipating FinTech’s Evolution in 2016
While 2015 isn’t even over, experts are already speculating about the significant changes awaiting the FinTech landscape in 2016. Expect advancements that will transform how individuals and businesses engage in global transactions, moving beyond conventional practices. If you thought payment solutions were evolving fast now, just wait!
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