Payments CEOs join forces as pressure mounts against card fee hikes

What to read today: Digital-Only Bank Account Holders Forecast: Insider Intelligence looks more closely at the difference between direct banks and neobanks and the pressures and advantages unique to both camps; and also at the macroeconomic factors we expect to affect digital-only banks in all three geographies included in this forecast..

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March 13, 2021 Payments companies' CEOs are joining forces as pressure mounts against card fee hikes. The CEOs of Amex, Discover, Mastercard, and Visa have banded together with the CEOs from payments giants FIS, Fiserv, and Global Payments to form the Payments Leadership Council (PLC). The PLC's formation comes as tensions rise regarding some of its corporate members' plans to raise card fees next month. The anticipated card fee increases aren't mentioned in the PLC's inaugural statement, but it may have been one of the reasons the council formed in the first place. Insider Intelligence's Adriana Nunez has the full story. BRIEFING HIGHLIGHTS Overdraft fee income for banks closes out 2020 with a muted resilience Income from overdraft charges has rebounded from pandemic lows, but a changing landscape for banks leaves their viability in doubt. Read More → Why SoFi's bank buy might rewrite the bank charter playbook for fintechs SoFi's decision to acquire a small community bank instead of independently obtaining a national banking charter provides a roadmap to other neobanks. Read More → Financial institutions ramp up crypto services Goldman Sachs and Deutsche Börse are the latest incumbents to add crypto trading options, further pulling the asset class into the mainstream. Read More → Mastercard and Samsung set to launch biometric payment card Mastercard and Samsung are set to launch a biometric payment card, which have been gaining more traction thanks to falling production costs. Read More → Moneybox gives users a boost with robo-mortgage advice Moneybox's robo-mortgage advice complements its existing home deposit savings account to create an end-to-end homebuying solution. Read More → PayPal steps into Australia's buy now, pay later market PayPal's move into Australia could be challenging, considering the market is already dominated by a number of homegrown BNPL providers. Read More → Betterment acquires rival digital wealth manager's US business Wealthsimple is refocusing on its core Canadian business, while Betterment will get a boost from the added market share. Read More → Starling reaches unicorn status as it bolsters its business offerings Starling expects to put fresh capital toward new acquisitions and strategic initiatives that'll position it for profitability. Read More → Amazon and Deliveroo are focusing on post-pandemic growth efforts Amazon, Deliveroo, and Olo are expanding offerings and shoring up finances to position themselves for further growth post-pandemic. Read More → Walmart's leaked documents showcase its plans to take on Amazon Walmart hit some of its ecommerce goals and may lean on tech innovations and initiatives to compete more directly against Amazon. Read More → RESEARCH IN FOCUS Digital-Only Bank Account Holders Forecast Insider Intelligence looks more closely at the difference between direct banks and neobanks and the pressures and advantages unique to both camps; and also at the macroeconomic factors we expect to affect digital-only banks in all three geographies included in this forecast. Get the full report → The Payments Ecosystem Insider Intelligence examines the payments ecosystem today, as well as the pandemic's impact on growth drivers and the industry's future. The report traces the path of in-store and online payments from processing to settlement across key stakeholders. Get the full report → Small Business Point-of-Sale Battle Insider Intelligence will lay out the difficulties SMBs are facing during the pandemic and the opportunities POS providers have in helping firms address those pain points. 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