Open Banking Tops This Week’s News | #employeefraud | #recruitment | #corporatesecurity


It’s the end of the work week, and the PYMNTS Weekender is here to make sure you didn’t miss anything with the latest in payments and commerce news. We have deep dives into opening banking, synthetic ID fraud and supplemental jobless benefits. 

Top News

Experts Tell House Committee They’re Divided Over $600-A-Week Extra Jobless Benefits

Experts have different views on whether another round of stimulus funding should lengthen the controversial bolstered jobless benefits, according to Thursday (July 23) testimony offered before the U.S. House Committee on Financial Services.

White House, GOP Map Out Next Stimulus Bill

The clock is running for both parties to agree on a stimulus package.

President Donald Trump was expected to meet with U.S. Rep. Kevin McCarthy (R-California), Senate Majority Leader Mitch McConnell (R-Kentucky), White House Chief of Staff Mark Meadows and U.S. Treasury Secretary Steven Mnuchin Monday (July 20) to determine their must-haves for the new legislation.

Nike Restructures Corporate Leadership In Digital Push 

Nike unveiled multiple changes to its top leadership Wednesday (July 22) as it seeks to accelerate its digital business as well as streamline customer experiences with a Consumer Direct Acceleration (CDA) roadmap.

Salesforce Boosts Payments Capabilities For Users

Salesforce has grown its Order Management products such as the function for firms to allow eCommerce shoppers finish transactions without exiting social media platforms.

What A 90-Year-Old Essay Tells Us About 2020’s Great Digital Shift 

Innovations in technology during the past myriad of decades — and its quick growth during the last 10 years — have set the stage for future economic growth and are responsible for the current resilience of our economy.

Trackers And Reports

Scotiabank: Why Banks Need To Rethink Personalization  

Digital banking is more popular than ever before, with consumers migrating to mobile and digital channels to steer clear of possible exposure of bank branches. PYMNTS explores how banks are assisting their clients in understanding the features of digital banking infrastructure in addition to the educational and logistical hurdles that banks will encounter in the future.

New Report: Mercado Pago On How Mobile Bridges The LatAm Banking Gap

Nations in Latin America like Mexico and Brazil are still creating open banking rules amid the pandemic. A number of consumers in the region are still unbanked or don’t have access to usual banking products, but smartphone penetration is on the rise.

PYMNTS explores how open banking is developing in Brazil and the region overall. 

New Report: How FIs Are Finding Fraudsters Wherever They May Hide

Financial institutions (FIs) have to ensure that they can accurately find scammers and steer clear of inadvertently blocking real users. To accomplish this task, they have to verify ID details, look at the behavior patterns of individuals and examine usage histories of devices with which the would-be clients transact.

PYMNTS explores how device authentication, as well as other steps, can fuel the battle against synthetic ID fraud.

Fun, Cool and Otherwise Interesting

Coca-Cola, PepsiCo Serve Up New Strategies For A Post-COVID World

The carbonated soda category is getting used to change. Shoppers were purchasing less sugary soft drinks when the pandemic impacted the world, but PepsiCo and Coca-Cola Q2 earnings indicate that the two legendary names have to make significant changes.

Is Voice The Ultimate Touchless Payments Experience?

Voice technology was on the uptick even long prior to the pandemic, with a consistently increasing portion of consumers harnessing voice assistants such as Alexa and Siri for various tasks. Once the coronavirus hit, voice technology received a large boost.

Holiday Shopping Season Will Be All About Digital 3.0, COVID Concerns  

Walmart indicated this week that its retail locations will shutter for Thanksgiving this year in a far-from-ordinary holiday shopping season. And, for a number of small and medium-sized businesses (SMBs), the holiday season will determine if they remain in business or go out of business prior to 2021.

Airlines Confront Grim Q2 As New COVID Fears Slam Travel Recovery

It was a rough week for shares in airlines as reservations shrunk on renewed COVID-19 concerns. New Transportation Security Agency (TSA) figures this week indicated that travelers through American airport checkpoints had fallen more than 4 percent the week concluding July 19.


New PYMNTS Study: Subscription Commerce Conversion Index – July 2020 

Staying home 24/7 has consumers turning to subscription services for both entertainment and their day-to-day needs. While that’s a great opportunity for providers, it also presents a challenge — 27.4 million consumers are looking to cancel their subscriptions because of friction and cost concerns. In the latest Subscription Commerce Conversion Index, PYMNTS reveals the five key features that can help companies keep subscribers loyal despite today’s challenging economic times.


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