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Apple launches mobile payment card with Goldman Sachs, Mastercard

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Category: Mobile News
25 March 2019

March 25, 2019

Apple has announced a major expansion into the digital payments space with Apple Card, a payment card built directly into the Apple Wallet app on iPhone that allows users to manage their finances on the device.

The payment system, developed with Goldman Sachs and Mastercard, will be available this summer and will give users cash back on purchases. Apple has developed a titanium card for account holders to use at merchants that don’t accept Apple Pay. The card bears no number, expiration date, CVV code or signature, making it more secure than traditional cards.

"Apple Card builds on the tremendous success of Apple Pay and delivers new experiences only possible with the power of iPhone," Jennifer Bailey, vice president of Apple Pay, said in the announcement. "Apple Card is designed to help customers lead a healthier financial life, which starts with a better understanding of their spending so they can make smarter choices with their money, transparency to help them understand how much it will cost if they want to pay over time and ways to help them pay down their balance."

The card charges no late fees, over-the-limit fees, annual fees or international fees. And the app can show users what their interest payments would be for a purchase depending on how long they plan to spread out the payments.

Users get 2 percent cash back on regular purchases and 3 percent cashback on purchases from Apple.

Customers can sign up for the card in minutes through the Wallet app on their iPhone and use the service right away in retail stores, in apps or at online sites. Customer service is available 24 hours a day using Messages and customers can get real-time transaction and balance information using the Wallet function.

Also today, Apple announced a new subscription-based television service starting in May called Apple TV Plus, which will feature original programming from major artists such as Stephen Spielberg, Jennifer Anniston, Oprah Winfrey and Reese Witherspoon.

Customers will be able to buy premium services à la carte. Pricing has not been announced for the video service, which will be available via iPhone, iPad and Apple TV.

Apple lastly introduced Apple News Plus, an app-based subscription service that allows users to read more than 300 popular magazines, newspapers or digital publications for $9.99 a month.

Topics: Card Brands, In-App Payments, Mobile Apps, Mobile/Digital Wallet, Mobile Payments, Retail

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Domino's, Xevo launch connected car pizza ordering with GM, Chrysler

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Category: Mobile News
25 March 2019

March 25, 2019

Domino's Pizza is working with in-vehicle commerce creator, Xevo Inc., to launch AnyWare pizza ordering capabilities, which will be preloaded in Chrysler and GM cars beginning late this year. The in-vehicle Domino's app is powered by an automotive commerce platform in connected cars called Xevo Market, a news release said. Domino's told Pizza Marketplace via email, that GM and Chrysler will feature the systems in their cars, and will announce the models affected at a later date.

"At Domino's, we want pizza ordering to be simple and always within reach, no matter where a customer happens to be," Domino's Director of Digital Experience Chris Roeser, said in the release. "This new AnyWare platform will make ordering pizza easy, whether you're in the car waiting for the kids to finish soccer practice or you're on your way home from work."

Through the systems, customers can order from the pizza brand via in-vehicle touchscreen. In fact, once customers are logged into the system, they can place their most recent orders again, then follow their progress via Domino's Tracker to determine when the pie is out of the oven. The capability also allows customers to find the nearest local store and order from that location. 

"We're excited to work with Domino's, and to have them join the Xevo Market platform, which is already live in millions of vehicles on the road today," Xevo CMO Brian Woods said in the release. "Domino's is the world's largest pizza company, and they've always been technological innovators. Xevo Market makes it possible for Domino's to reach people directly in their cars, streamlining mobile ordering to help busy consumers save time."

Domino's has not yet responded to a request for details about the initiative. 

Photo: Provided

Topics: Mobile Apps, Restaurants

Companies: Xevo Inc., Domino's

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Credijusto lands $100M credit facility from Goldman for SME lending

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Category: Mobile News
25 March 2019

March 25, 2019

Credijusto, a Mexico City-based digital lending platform for small and medium-size businesses, has received a $100 million credit facility from Goldman Sachs, according to a press release

The company said the funding will allow it expand its SME loan business across Mexico.

"This credit facility represents a significant milestone for Credijusto and allows us to continue to transform the way Mexican SMEs access capital," David Poritz, co-CEO of the company said in the announcement.

According to the company, SMEs make up 99 percent of Mexican businesses and 74 percent of the country's total employment, but only receive about 15 percent of the loans. Credijusto has originated approximately $70 million in credit since it was founded in 2015.

In 2018, the firm raised Series A funding led by Kazek Ventures and QED Investors.

Topics: Mobile Banking, Money Transfer / P2P, Region: Americas

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Amount, TD Bank enter partnership on digital lending

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Category: Mobile News
25 March 2019

March 25, 2019

Amount, a Chicago-based digital lending platform, has entered a strategic partnership with TD Bank to power the bank’s TD Fit Loan debt consolidation product, which was originally launched in 2018, according to a company release.

The partnership will allow TD Bank to use Amount digital lending technology, a suite of tools that include credit decisioning, fraud prevention, account verification, CRM and other technologies.

Selected TD Bank customers will be able to apply for loans of up to $35,000 using a smartphone or other mobile device and get decisions in as little as one day.

"When we looked to expand our personal lending products with a digital offering, we prioritized finding a platform that could provide a simple, straightforward customer experience, which we found in Amount," Mark Victoria, head of personal lending at TD Bank, said in the announcement. "Our initial rollout of TD Fit marked the first in a series of collaborative initiatives with Amount that will provide a great experience for our customers while bringing TD to the forefront of digital lending."

Amount’s technology has been used to originate more than $6 billion in loans, serving about 800,000 customers.

Topics: Mobile Banking, Technology Providers

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Bank of America's Erica virtual assistant surpasses 6M users

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Category: Mobile News
25 March 2019

March 25, 2019

Erica, the AI-driven digital banking chatbot from Bank of America, has surpassed six million users, according to a press release.

The bank said that more than 35 million requests have been processed through the virtual assistant since its debut in 2018.

"Since launching Erica’s proactive insights late last year, daily client engagement with Erica has doubled," David Tyrie, head of advanced solutions and digital banking at Bank of America. "Consistent with our high tech, high touch strategy, we’ll continue evolving our best-in-class digital banking capabilities, including Erica, to provide clients relevant, timely guidance and help make managing their finances easier."

Among the latest enhancements to the virtual assistant, Erica notifies clients when recurring charges suddenly increase, tells customer when they become eligible for Preferred Rewards, and alerts customers when they have upcoming Bank of America bills or third-party e-bills coming due.

Topics: Mobile Banking, Transaction Processing

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