EU Council supports integrated payments system

What to read today: Small Business Point-of-Sale Battle: Insider Intelligence lays out the difficulties SMBs are facing during the pandemic and the opportunities POS providers have in helping firms address those pain points. We look at how POS providers can attract new SMB clients while helping their existing customers by meeting their changing needs during the pandemic..

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April 3, 2021 EU forges ahead with plans to create a fully integrated instant payment system. The Council of the European Union recently backed a strategy introduced by the European Commision (EC) last September to create an integrated retail payment system throughout the EU. The EU Council wants a homegrown payment system that relies less on international players but has the same benefits. Most domestic payment solutions based on instant transfers or cards don't work across borders, making it difficult to support the rise in cross-border retail and ecommerce shoppers. Building its own system would let the EU rely less on players like Mastercard and Visa, and regain payment and data sovereignty. Insider Intelligence's Adriana Nunez has the full story. BRIEFING HIGHLIGHTS Pie Insurance scores mega-round for underwriting solution Pie Insurance raised $118 million for its underwriting solution, and it should extend its API to third-party platforms to keep up with Next Insurance. Read More → US banks' call center penetration remains steady for now The pandemic boosted call center penetration as more users banked from home, but app-based assistance could cannibalize traffic. Read More → Visa moves deeper into crypto space with USDC settlement capability Crypto providers working with Visa can now route USDC payments to Visa for settlement, saving them time and money. Read More → Bezos-backed accounting platform Pilot joins unicorn club Pilot raised $100 million in funding, and the round included an investment from Jeff Bezos' personal investment company. Read More → Westpac pushes deeper into BaaS with ID service partnership Westpac has partnered with regtech startup FrankieOne to offer the latter's identification service through its Banking as a Service platform. Read More → Walgreens adds a bank account to its financial services offering Walgreens is leveraging its broad footprint to introduce a new bank account that could benefit underbanked customers. Read More → PayPal launches Checkout with Crypto PayPal launched Checkout with Crypto, which could catapult crypto retail payments into the mainstream. Read More → DriveWealth is bolstering its API with Plaid partnership US-based API brokerage platform DriveWealth partnered with Plaid to speed up funding of online investing accounts. Read More → US payment users will surpass 100 million In-store mobile payment app use will hit a milestone in 2021, reaching 101.2 million among Americans ages 14 and older. Read More → Mastercard comes under fire in UK for involvement in payments 'cartel' Mastercard and four other payment providers are under investigation in the UK for anti-competitive collusion regarding welfare payments. Read More → RESEARCH IN FOCUS Small Business Point-of-Sale Battle Insider Intelligence lays out the difficulties SMBs are facing during the pandemic and the opportunities POS providers have in helping firms address those pain points. We look at how POS providers can attract new SMB clients while helping their existing customers by meeting their changing needs during the pandemic. Get the full report → Credit Cards in the 'Next Normal' Insider Intelligence evaluates the future of consumer credit cards through a pandemic-focused lens. After recapping 2020 and exploring the state of the industry at present, we divide the pandemic recovery into three phases and determine how economic trends might affect credit card spending, customer acquisition, retention, and risk. Get the full report → Gig Economy Financial Services Ecosystem Insider Intelligence explores the size and scope of the gig worker market; gives an overview of companies that started making efforts to serve the gig worker market pre-pandemic; presents some of the earliest-moving companies rolling out pandemic-specific financial services for gig workers; and lastly, outlines how FIs who move into the space during this crisis period can make sure their products have a longer-term value for customers once the pandemic passes. Get the full report → BECOME A SUBSCRIBER Did you know the Daily is just a preview of everything Insider Intelligence has to offer? Our Briefing subscriptions deliver analysis on the biggest trends and decisions shaping the future of a specific industry. Stay on top and subscribe today to receive: A cornerstone industry report Daily Morning newsletters Opportunities to join the conversation Get Started Today → FOLLOW US Email sent to: nguyenvu1187.love5@blogger.com Manage your email preferences  |  Unsubscribe  |  Terms of Use  |  Privacy Policy © 2021 Insider Intelligence. 11 Times Square, 14th FL, New York, NY 10036