November 28 – A new report published by Allied Market Research titled, “World ATM Market – Opportunity Analysis and Industry Forecast, 2014 – 2020,” forecasts that the world ATM market is expected to garner revenue of $21.9 billion by 2020, registering a CAGR of 7.7% from 2015 to 2020. Integration of wireless communicating devices (smart phones) with ATM machines has reduced ATM frauds arising due to card skimming. This factor has significantly fostered the adoption of smart ATMs, which has consequently fuelled the growth of the world ATM market. According to the Federal Reserve System, the ATM market in developed countries, such as the U.S., the U.K., Canada, and France has attained maturity, while the Reserve Bank of India forecasts a rapid growth of the ATM markets in the emerging countries.
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November 16 – Juniper Research has found that Fintech platform revenues to support lending and financing are set to reach $10.5 billion globally by 2020, doubling the $5.2 billion expected this year.
October 18 – New research from leading Fintech analyst, Juniper Research, finds that over 2 billion mobile users will have used their devices for banking purposes by the end of 2021, compared to 1.2 billion this year globally. Growth in mobile banking is being driven by consumer adoption of banking apps the changing way consumers manage their finances.
October 13 – Jack Henry & Associates’ JHA Payment Solutions group has announced the availability of JHA EPS SmartPay Biller Direct℠, an electronic bill, invoice, and payment solution.
September 21 – A new study from Juniper Research has found that the global value of contactless POS (point of sale) terminal transactions, conducted in-store via cards, mobile and wearables, will approach $500 billion annually by 2017; this is up from an estimated $321 billion this year.
June 3 – Jack Henry & Associates’ JHA Payment Solutions group has announced the availability of expanded iPay Consumer Bill Pay features and functionality, powered by Inlet.
June 2 – Venture funding in the U.S. fintech sector increased 70 percent during Q1’16 from Q4’15, to $1.7 billion after experiencing a slowdown in the last two quarters, according to Pulse of Fintech, the quarterly global report on fintech VC trends published jointly by KPMG International and CB Insights.
May 11 – iovation, the provider of device intelligence for authentication and fraud prevention, today announced the immediate availability of a report it and research and advisory firm Aite Group developed entitled “EMV: Issuance Trajectory and Impact on Account Takeover and CNP.” The report calculated that card-not-present fraud — fraudulent transactions where a credit card is not physically presented to a merchant — will cost retailers and financial institutions $7.2 Billion in the United States by the end of 2020. The report also found that account takeover losses for financial institutions — when a fraudster poses as a genuine customer, gains control of an account and then makes unauthorized transactions — will increase from $644 million in 2015 to more than $1 billion by 2020 in the U.S.
March 10 -Bill.com has announced the Bill.com Network, the first business payments network to help companies pay and get paid in a fast, simple and secure way. Bill.com introduces the Network as the company reaches critical mass, surpassing the 1 million member mark and $25 billion in annual transactions. Through the Network, Bill.com connects businesses and banks in the cloud, enabling faster and lower-cost payments and improved collaboration to bring digital business payments into the 21st century.
December 4 – More than 1.1 billion financial services customers are expected to be using mobile biometrics by 2020, according to Goode Intelligence, a leading research and consultancy organization for the biometric and financial services industry. (more…)