Google Pay Relaunches With Card-Linked Offers
A redesigned Google Pay was launched this month. Available in the US on Android and iOS, the updated app expands the payments and commerce ecosystem across a broader range of platforms, devices and payment types. The multinational tech company also announced plans to offer smart banking via FI partnerships. The changes are being made to give consumers more control over their transactions.
Consumer demand for a more streamlined way to track spending, take advantage of offers and manage their money prompted the moves. Google is taking a leadership role in addressing a fragmented financial ecosystem, giving users more insight and control into their transactions.
Collinson Plays Key Role In Covid-19 Traveler Testing Trial In UK
CardLinx member Collinson launched a service at London’s Heathrow airport enabling passengers arriving from the US to get a free Covid-19 test. A negative result eliminates the government-imposed 14-day quarantine requirement for travelers arriving in the UK on select airlines from select US cities.
Collinson is built around delivering meaningful experiences for its clients’ customers—in this case for passengers of American Airlines, British Airways and the oneworld alliance of airlines. The company delivers services to travelers i.e. hospitality, medical, insurance and security—and its programs increase the value of loyalty and rewards programs. The newly announced free coronavirus testing, started on Nov. 25, provides the convenience and confidence needed for the travel sector to recover.
California Passes New Data Privacy Measures
Proposition 24, also known as the California Privacy Rights and Enforcement Act of 2020, passed. The new law protects sensitive consumer financial data, allowing consumers to request personal information not be shared; requiring businesses to get permission before collecting data from consumers younger than 16; and requiring businesses to correct data inaccuracies upon request. Prop 24 also creates an agency responsible for enforcing the rules, the California Privacy Protection Agency.
The provisions passed easily, reflecting rising consumer demand for more control over personal financial data. The CardLinx Association’s groundbreaking industry data transparency principles, published in 2019, are reflected in the new legislation and reflect the current best practices of current CardLinx Member companies. Separately, the US Federal Consumer Protection Bureau announced in October that it’s developing new regulations for consumer privacy, further evidence of a groundswell of demand for privacy measure.
Largest Fin-Tech IPO Stopped By China
The world’s largest initial public offering has been disqualified by Chinese regulatory agencies. Fin-tech giant Ant Financial Group’s controlling shareholder Jack Ma and two other top executives got the news from Chinese regulators. As a result, The Shanghai Stock Exchange suspended the IPO, which was scheduled for Nov. 5th. A concurrent Hong Kong listing will also be suspended. The halted IPO was scheduled to raise nearly $40 billion and value the company at over $250 billion.
Amidst a turbulent economy and a challenging tech/trade war with the USA, the Chinese government is taking a more assertive role in policing technology companies in China, particularly in fin-tech. The startling news of the halted IPO comes amid increasing concern about the data and market power of Ant Financial and its mobile payments network Alipay in the Chinese economy. Both are now part of Ant Group, an affiliate of Alibaba Group and were founded just six years ago.
Fin-Tech’s Secret Solution to Employee Engagement
Scott Burke, Director of Innovation at Edenred, discusses how card-linked engagement solutions is the secret to employee satisfaction.
CardLinx members include the largest and most innovative companies in fin-tech, payments, retail, ecommerce and mobile wallets. Members include Microsoft, Samsung, Rakuten, UBS, RBC, Mastercard, Discover, Collinson, FIS, LVMH-24S, Hilton, Fidel, Augeo and many more in 17 countries and 4 continents.
We are bringing their insights from around the world straight to you in an informative new podcast called Commerce Code. The podcast features insights, interviews and the latest news from CardLinx members around the world. Stay connected and subscribe to Commerce Code.
CardLinx Forum December Webinar
Great Expectations: What’s In-Store For Payments and Loyalty in 2021
Monday, December 14th; 4 pm – 5 pm PST
The rise in e-commerce, the surge of contactless payments and mobile wallets: These industry trends are defining the new normal—and the role loyalty will play as we head into the new year. Learn more about what to expect in 2021 from CardLinx member Kirsty Rankin, Senior Vice President of Product Development, Data and Services at Mastercard.
Speaker | Kirsty Rankin, Senior Vice President of Product Development, Data and Services | at Mastercard.
CardLinx hosts a live, interactive webinar each month featuring speakers from some of the most influential companies in the world. They share insights on important and relevant topics for your business—including the impact of Covid-19 on consumer credit behavior, mobile wallet adoption, card-linking and lending trends. The webinar is always free to members and non-members are invited to attend at $149 per registration. Members and non-members are encouraged to register now as space is limited.
Curated 1:1 Video Meeting Among Webinar and Forum Attendees
CardLinx Meet-Ups is an opportunity to privately network one-on-one with another company attending the meeting. CardLinx Meet-Ups is available at all CardLinx online conferences and webinars. Please make sure to send all networking preferences to to [email protected] no later than Friday, December 4th for CardLinx East and Friday, December 11th for the next webinar.
CardLinx Commerce Tracker
The CardLinx Forum brings to you an interactive world map that tracks the top 20 national economies of the world.
Stay up to date with the constantly changing restrictions and reopenings of economic activity related to Covid-19 with the CardLinx Commerce Tracker.