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Circle has filed with the Securities and Exchange Commission to become a US Federally-chartered national commercial bank. 
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Google has released a new feature which lets consumers pay for parking and transit fares directly from within Google Maps.
Vineet Anand's insight:
Google Pay partnership with Passport & ParkMobile enables pay via maps in 400 cities!Â
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Mastercard is rolling out prepaid cards that can be loaded with the world's first central bank digital currency, the Bahamian Sand Dollar.
Vineet Anand's insight:
Central bank digital currency Sand Dollar enabled for loading on MC prepaid cards and will drive acceptance at merchants across Bahamian islands.Â
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U.S. Treasury Secretary Janet Yellen on Wednesday warned about an "explosion of risk" from digital markets, including the misuse of cryptocurrencies.
Vineet Anand's insight:
Fresh perspective in pursing innovation and paving way for greater adoption of crypto-currencies.Â
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The World Health Organisation is advising consumers to avoid handling bank notes and instead switch to contactless payments to deter the spread of the deadly coronavirus.
Vineet Anand's insight:
WHO advisory to give shift in spend from cash to digital contactless. Potential for late adopters to now become adopters of cash especially in high digital countries like China, HK, Singapore, EU (including UK), IndiaÂ
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CaixaBank is offering customers the opportunity to use facial recognition technology rather than PIN codes to withdraw cash from ATMs.
Vineet Anand's insight:
Seems like Fijitsu ATM's have found a way to extend the lifecycle of their products by offering facial recognition. Decline in ATM and cash usage by digital consumers is not related to security offerings and will do little to create additional demand for usage of  ATM's.Â
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Digital only bank Marcus continues to gain traction in both the US and the UK. During the Q4 earnings call by Goldman Sachs (NYSE: GS) yesterday, the management team shared some additional insight into the Fintech's growth. Goldman, by the way, reported blowout numbers which
Vineet Anand's insight:
Marcus (Goldman Sachs) digital bank has harnessed $35 billion in deposits with nearly $7 billion from UK post a recent launch. Under its wealth management arm, likely a robo-advising service will be offered soon. No secret here, clients like savings rate of 2.25% compared with nominal of around say 0.01% offered by WF. This model will disrupt upcoming Neobanks as they venture from Europe to US in coming months including Revolut and N26!
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Digital payments company reports Rs 260-cr revenue for FY18 from Rs 21 crore last year
Vineet Anand's insight:
Paypal's investment in India paying off rewards with a 12fold increase in revenues. PP invested $125 million in Pinelabs to gain access to its 300k POS locations and other products. Its domestic operations with 600 staff will help it compete for remittance corridor into India more effectively!Â
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From
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Waiting on LG Pay for your LG phone? It might be a while in the U.S.
Vineet Anand's insight:
Delays to market will impact an already highly fragmented: Customers can choose between phone-based near-field communication (NFC) wallets, like Apple Pay, Google Pay, and Samsung Pay; bank-based products; individual wallets from retailers; and more, making selecting the right wallet confusing. Fragmentation is particularly relevant to Android customers
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A consortium led by Mizuho Financial Group and Japan Post Bank plans to launch the new digital currency in time for the Tokyo 2020 Olympics.
Vineet Anand's insight:
J-Coin to be launched in time for 2020 Olympics by a consortium of banks lead by Mizuho to be offered at 1-1 rate with Yen, with Central Bank supporting the new digital currency to drive $90 million in saving driven by cost to handle cash. 70% of transactions in Japan are using cash, per report.
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India is set for a digital payments revolution, with the value of transactions set to hit US$500 billion by 2020, ten times its current level
Vineet Anand's insight:
520 million smartphone users in India by 2020 will aid in growth of digital payments. Report outlines 1/2 of internet users will make digital payments - all this fueled by relaxation of regulatory environment for financial service providers, and unified payments interface. These factors will move the digital payments from current $50 billion to $500 billion by 2020!
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Neon, a millennial-targeting smartphone-based bank that uses facial recognition technology to authenticate its customers, has launched in Brazil.
Vineet Anand's insight:
Neon, a Brazil based start-up launches digital bank targeted at millennials with face recognition technology to authenticate.
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Finextra: First National Bank is taking on South Africa's telcos with the launch of a mobile virtual network, offering customers its own SIM cards.
Vineet Anand's insight:
Bank expands into mobile telco business model to spur meeting demands of it customers with a digital focus for toupee, billing, SIM ordering using online banking account!
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A digital wallet could be a commodity with maybe some branding and fashion – similar to physical wallets today. In this scenario, we will have thousands
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Curated by Vineet Anand
Payment Industry leader passionate about Fintech, Innovation in Banking, Product Management & Strategy, driving revenue growth through client management, business development and P&L focus.
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Payments Ecosystem
The Payments ecosystem is evolving at an unprecedented pace driven by mobile, cloud computing, start-up's challenging the behemoths, and new technologies. My personal collection of curated stories and blogs.
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Circle bank filing as part of extending its efforts in becoming a digital currency bank, which will fortify its stablecoin product USD Coin