“Silicon Valley is coming.” That’s the warning JPMorgan Chase CEO Jamie Dimon issued in his letter to shareholders (pdf) this year, and it no doubt was a big motivation behind the development of Chase Pay, the Apple Pay competitor that Chase unveiled this week.
Apple Pay is expanding to five more countries by the end of 2016, Apple CEO Tim Cook said during the tech giant’s conference call Tuesday discussing its earnings results.
Credit card companies and banks are getting serious—or at least more curious—about the potential of bitcoin, making an increasing number of investments in startups involved with the digital currency.
When it comes to bitcoin, Europe’s highest court and the US’s major tax agency don’t agree on exactly what it is.
In his annual letter to shareholders in April, JPMorgan CEO Jamie Dimon warned that “Silicon Valley is coming” for the banking industry, specifically cited the lending and payments industry as two areas where his bank was seeing increasing competition.
Jet.com, the ambitious startup launched by CEO Marc Lore earlier this year, is certainly attracting plenty of attention. Based on data Jet.com provided, the company’s growing fast. It’s quickly become one of the bigger players in the US e-commerce market—number 4 by gross volume, it says—behind Amazon and eBay, and beating out established brands like Sears and Best Buy.
With startups staying private longer—whether because they want to avoid the scrutiny of being public or because they simply aren’t ready to go that route, financially or operationally—it’s been harder for shareholders in private companies to access any returns. That’s created a boom in secondary markets that allow companies, employees, and investors to buy and sell private shares.
Back in January, Apple CEO Tim Cook dubbed 2015 “the year of Apple Pay.” His bold prediction about Apple’s mobile wallet, which turns a year old this week, might have been a bit optimistic.
Square has added another high-ranking female executive to its senior management team—Jackie Reses, who is stepping down as Yahoo’s chief development officer to lead Square Capital, the payments company’s lending division.
Steve Ballmer, former head of Microsoft and current owner of basketball team LA Clippers, owns 4% of Twitter now. And he’s already talking it up.
Here’s one thing that hasn’t been overly remarked upon about payments startup Square’s plan to go public.
Square has officially filed to be a publicly traded company, after months of speculation.
American credit-card technology is getting an upgrade that should make the cards less susceptible to fraud, but the FBI has a warning for consumers who use them: Stay vigilant.
Facebook has been following Asian messaging companies when it comes to planning out the future of its chat app, Messenger. That goes not just for Messenger’s use as a communications tool, but for the nascent payments business embedded within the app.
Next October, you might buy that Pumpkin Spice Latte with your iPhone.
Jet.com, the e-commerce startup attempting to take on Amazon, has only been available for three months, but it’s already switching up its business model.
Jack is officially back as Twitter’s CEO.
Apple is staffing up to push its payments system in China, a market that’s increasingly crucial for generating the growth that investors have come to demand from the world’s largest company.
In the US, where waiters and bartenders earn a good chunk of their bread and butter off tips, the handing over of the bill to customers is a sacred ritual in which much income is made or lost. Unlike in Europe, Americans typically add their tip on paper at the table when they approve the final charge. But that ritual will go out the window once US credit card companies adopt the European approach.
Banks are exploring a variety of uses for bitcoin and digital currency, but one area in particular appears to be piquing their interest: transferring funds between countries.
You’ll soon be able to use Apple Pay in a lot more retailers, starting with Best Buy. The 12th-largest retailer confirmed to Quartz it is testing “NFC payments,” which is the underlying technology behind mobile wallets like Apple Pay and Android Pay. Both payment systems are still scheduled to roll out to every store by the end of the year.
The iPhone ad-blocking wars have their first conscientious objector: The creator of the most popular ad-blocking app.
This post has been updated.
Apple announced a new partnership last week with PayAnywhere for a new device that helps merchants accept Apple Pay transactions.
