Latest Fintech News from FinHub, Whatsapp, Mastercard and More: Week of June 22, 2020


The impact of the pandemic on the finance industry, technology and payments news, virtual meetups for fintech communities, new partnerships and more, this week in fintech.

Virtual Meet-Ups for Fintech Communities facilitated by SEC’s FinHub

The U.S. Securities and Exchange Commission’s Strategic Hub for Innovation and Financial Technology (FinHubOpens a new window ) has organized virtual peer-to-peer meet-ups for fintech community members amidst the pandemic. The meet-ups are an opportunity for fintech communities across the country to connect with FinHub officials and discuss general issues, specific questions, or make presentations about their work. The meet-ups will feature themes, along with expert innovators, entrepreneurs, or firms that wish to discuss issues related to those themes.

COVID-19 Shifts Payment Preferences: Mastercard Research

Mastercard conducted a studyOpens a new window of payment preference of the public, across e-commerce and in-store payments in various markets. The study found that with COVID-19, online payments are the most preferred mode of payment, with little chance that people will go back to the old way. The first quarter of the year witnessed a rise of 20% digital commerce revenue. 75% of respondents say that they are most likely to keep using digital payments even after the pandemic ends.

Tech News: Latest Fintech News: Week of June 15, 2020Opens a new window

76% Mobile Banking Applications Do Not Require Device Handling to Exploit Vulnerabilities: Positive Technologies Research

Vulnerability and threat assessment company Positive Technologies conducted a survey of 14 mobile banking applications across several android and iOS devices. The results were studied and combined in a research paper titled “Vulnerabilities and threats in mobile bankingOpens a new window .” The company reviewed the security of every application manually, while also using automation tools to study the client and server-side vulnerabilities and threats. On the client-side, 13 out of the 14 applications allowed attackers to access user’s data from the client-side. Almost 76% of the vulnerabilities identified could be exploited without any device handling.

PaymentSource Credits Corona Virus for enhancing Payments and Fintech Investment

The COVID-19 outbreak may have disrupted every industry, but payment industry resource PaymentSource says it has accelerated the speed of adoption of technology as well as investments in the payments space.

A recent blog postOpens a new window said that the near future will witness enhanced investments in fintech and micro-investments, as well as the accelerated adoption of contactless payment as a preferred option in-store. The retail space remains ripe for more disruption and innovation.

Tech News: TIS Secures $20M to Meet Growing Demand for SaaS B2B Payment SolutionOpens a new window

Banking Platform Mambu Calls in Google Cloud for Seamless Delivery

Banking platform Mambu has entered a global partnership with Google CloudOpens a new window , allowing it to operate end-to-end on Google Cloud. This will enable it to bring its SaaS offering to a host of new financial services institutions. Post partnership, Mambu users can find all their banking and lending engines, process orchestrator, payment integrations, ecosystem connectors, and supporting services on Google Cloud.

WhatsApp Empowers SMBs with Digital Payments Through App

Facebook-owned messaging application WhatsApp announced that they are bringing digital paymentsOpens a new window for users in Brazil. This is in extension to the service that allows surfing local stores on WhatsApp. Users will now be able to not just view the catalog of the store but can also make payments, powered by Facebook Pay.

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