Paytm, PhonePe add new transaction solutions

What to read today: Account Opening in the Next Normal: Bank account opening is bouncing back after a slump during the coronavirus pandemic, and digital account opening (DAO) activity in particular is poised to benefit from the surge. We examine the status of digital account opening—focusing primarily on deposit accounts—and what the trajectory of DAO will look like over the next few years for incumbent banks and digital challengers..

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July 10, 2021 Paytm and PhonePe have launched new solutions in India. Two of India's largest payment players, Paytm and PhonePe (partially owned by Walmart's Flipkart), each announced new digital solutions. Paytm expanded its BNPL solution with Postpaid Mini, and PhonePe launched a digital payment offering that replaces cash for delivery orders—helping expand the country's digital payment solutions. Ecommerce and digital payments adoption among India's vast population makes the country a prime location for payment players like Paytm and PhonePe to broaden their solutions—though they'll need to compete for market share as the space heats up. Insider Intelligence's Adriana Nunez has the full story. BRIEFING HIGHLIGHTS BofA places first in US customer satisfaction for financial advice Bank of America topped a J.D. Power ranking of US customers' satisfaction with retail banks' financial advice. Read More → Chime's fraud effort abruptly freezes some accounts Chime's effort to fight fraud has yielded collateral damage: Some users have reported that their accounts were abruptly frozen or closed. Read More → Bank executives predict demise of the branch-based model In just five years, the physical framework of banking will be "dead," according to bank executives around the globe. Read More → Why are payments facilitators worth watching? First popularized by firms like PayPal and Square, the payments facilitator model is reshaping the payments ecosystem. Read More → Charles Schwab's fine signals SEC scrutiny of robo-advisors The US regulator's recent probe into Charles Schwab's robo-advisory service suggests the industry will receive greater scrutiny. Read More → Amazon's BNPL success in India could lead to expansion plans Amazon Pay Later has amassed 2 million users and processed more than 10 million transactions in India since it launched in April 2020. Read More → Brokers want teens to ditch fidget spinners for financial instruments Incumbents and fintechs alike are launching teen investing accounts, and no amount of heightened regulatory pressure will stop them. Read More → Visa's crypto ambitions begin to pay off Visa's $1 billion crypto-related spend total in H1 2021 points to an effective growth strategy. Read More → Most US boomers bank online but shy away from mobile wallets Most US boomers feel comfortable with online banking, with 88% using that digital channel in the past year. Read More → Nubank turns sights toward monetization with paid account Nubank's Ultravioleta paid account is a strategic shift toward monetizing its 40 million customers as well as juicing their loyalty and engagement. Read More → RESEARCH IN FOCUS Account Opening in the Next Normal Bank account opening is bouncing back after a slump during the coronavirus pandemic, and digital account opening (DAO) activity in particular is poised to benefit from the surge. We examine the status of digital account opening—focusing primarily on deposit accounts—and what the trajectory of DAO will look like over the next few years for incumbent banks and digital challengers. Get the full report → Global Ecommerce Update 2021 When we last forecast our worldwide figures for retail ecommerce, the world was amid the first wave of coronavirus disruption, and we anticipated a substantial deceleration for ecommerce and dire results for overall retail. This report features our latest forecasts for worldwide retail ecommerce, mcommerce, and digital buyers—as well as selected regional trends for ecommerce and an update on overall retail sales. Get the full report → Blockchain in Payments Blockchain is attracting enormous interest on the back of surging cryptocurrency valuations and increasingly high-profile payment integrations. Insider Intelligence presents a balanced look at the blockchain payment use cases with the highest maturity. 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