Happy Wednesday!
This time:
How US customers’ attitudes to fintech are shifting during the pandemic
Visa abandons takeover of Plaid after DOJ raises antitrust concerns
Time to tighten rules on ‘buy now pay later’ operators
Top Reasons Why Mobile Banking Will Thrive In 2021
UK-based banking fintech Tide expands operations to India
Can fintech help the free school meals debacle?
How US customers’ attitudes to fintech are shifting during the pandemic
Recent surveys of US consumers reveal some shifting attitudes towards banks and fintechs after more than six months of the COVID-19 crisis.
Beyond its devastating impact on human health and the economy, the COVID-19 pandemic has reshaped much about the day-to-day lives of people across the globe. In this post, we highlight some observations on how the experience of living through a pandemic has influenced US financial decision makers’ willingness to use fintechs (see sidebar) for their financial needs.
Visa abandons takeover of Plaid after DOJ raises antitrust concerns
Visa has ended its takeover efforts of Silicon Valley start-up Plaid about two months after the Department of Justice filed an antitrust lawsuit on grounds that it would limit competition in the payments industry.
The company said the decision to end the merger was mutual.
The deal hit a snag late last year after the DOJ pointed out Visa’s acquisition could eliminate a nascent competitive threat. The DOJ cited Visa CEO Al Kelly’s description of the deal as an “insurance policy” to neutralize a “threat to our important US debit business.”
Top Reasons Why Mobile Banking Will Thrive In 2021
Demand for digital banking services, already rising steeply before the COVID-19 pandemic set in last year, was given even greater impetus during 2020 and is likely to have gained years of ground in what has been an extraordinary year.
Stay-at-home orders and social distancing requirements meant customers who were not already familiar with operating online had to become more comfortable with virtual alternatives and a reluctance to use cash also saw cashless solutions become more in demand.
Time to tighten rules on ‘buy now pay later’ operators
