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Google is to begin offering checking accounts to consumers from next year, in partnership with banks and credit unions, according to The Wall Street Journal... More
A Goldman Sachs rival pulled out of the Apple Card deal on fears it will be a money loser — CNBC — “‘Dude, if that portfolio ever makes money, I’m buying you a beer,’ an employee at the card department of a big bank texted a Goldman staffer… Citigroup was in advanced negotiations with Apple for the card but pulled out amid doubts that it could earn an acceptable profit on the partnership, according to people with knowledge of the talks… Goldman is ‘thrilled’ to be partnering with Apple, according to Andrew Williams, a spokesman for the New York-based bank.”
Citigroup won’t use high deposit rates to win digital accounts: executive — Reuters — “Citigroup Inc does not plan to use high deposit rates to attract customers to its new digital bank accounts when it begins marketing this fall, the chief of its global consumer bank said on Tuesday… Instead, the bank will market the accounts nationally to its credit card customers, such as holders of its Double Cash card and cards it issues for American Airlines Group, and Costco Wholesale Corp and Home Depot Inc… Bird said, for example, that offering additional American Airlines mileage credits will attract stable deposits to the bank.”
Citi launches first Facebook Messenger banking chatbot in Singapore that provides customer account information — Citigroup — “Citi Bot will be able to address a range of common customer needs, including account-specific enquiries such as checking of account balances and transactions, providing credit card bill summaries, rewards and points balances and answering frequently asked questions… The second phase of the Citi Bot will introduce more new features such as card activation, ability to lock and unlock credit cards and transaction alerts for cards.”
Motorists using oil and gas company ExxonMobil’s mobile payments app can now apply for the ExxonMobil Smart Card credit card directly through the app... More
Google has announced Google Wallet, Google Offers and a Google Prepaid Card, in partnership with MasterCard, Citi, First Data and Sprint. More
“We’re making a big bet on it as a company,” says Stephanie Tilenius, Google’s VP of commerce and payments. “There is a lot of potential there.” More
“We’re working with Google on the development of NFC applications for merchants,” the chief executive of POS terminal maker Ingenico has told French reporters. More
NFC and contactless specialist Vivotech is planning an initial public offering (IPO) as early as 2012, CEO Mick Mullagh has told Bloomberg Business Week... More
Google is working with MasterCard and Citigroup on the introduction of NFC mobile payments services, the Wall Street Journal reports:... More
‘This pilot provides insights which will prove crucial to getting the customer experience right as we, together with the industry, bring next-generation mobile financial services to market,’ says Citi. More
Citigroup says it is to run an NFC trial in the Indian city of Bangalore, with the aim of developing a business case that it can present to carriers back in the US. More