The second annual Global Fintech Rankings report, published June 23, 2021, by findexable, details increased global investment in the fintech sector over the past twelve months, with $440 billion invested in fintech unicorns compared to $199 billion in April 2020. Researchers from Mambu used algorithms to rank fintech ecosystems across 83 countries, using data from findexable's Global Partnership Network and database, according to Simon Hardie, founder and chief executive officer of findexable.

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Quick service restaurants outperformed fine dining establishments during the pandemic, according to a June 2021 ResearchAndMarkets report titled The Global Quick Service Restaurant (QSR) Market (2021 Edition) Analysis by Service Type (Eat-in, Take Away, Home Delivery). Lee Jones, transformational program manager at Worldline, concurred, noting that QSRs quickly extended delivery and food collection services during COVID, giving people something to look forward to during an exceptionally difficult time.

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Many businesses that accept PayPal will start paying higher processing fees this summer; in some cases the fees will climb by more than 40 percent.

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Ransomware attacks against critical infrastructure have inspired government and private sector alliances, according to recent reports. The Verizon Business 2021 Data Breach Investigations Report found attacks on the rise as well as average ransom payments, which have increased by 171 percent in just a year, researchers found.

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AI-based solutions provider ThetaRay disclosed June 15, 2021, that SONAR, its anti-money laundering (AML) solution for cross-border payments, is available as a subscription service on Google Cloud. The solution is designed to help financial institutions, fintechs and third-party service providers detect and mitigate money laundering activities in cloud-based environments, representatives from both companies stated.

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The march to real-time payments continues. Westside State Bank, a community bank in Iowa, is the latest bank to bring real-time payments to its customers through a connection to RTP, the real-time payments network developed and operated by The Clearing House. Westside is accessing RTP through Shazam, and Bankers' Bank is providing funding capabilities.

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A new study by FreedomPay and J.P. Morgan, published June 9, 2021, describes COVID-19 as a "Black Swan" moment that transformed retail and hospitality. Preparing for the Return of Demand: How America's Retail & Hospitality Tech Elite Tackle Disruption with New Commerce Investment, reports on U.S. IT decision-makers surveyed to identify top concerns and technology investment strategies, FreedomPay and J.P. Morgan representatives stated.

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Credit union members are digitally engaged consumers of financial services. But that engagement doesn't necessarily extend to their credit unions. To win the hearts and wallets of their members, credit unions need to refine their focus on payments. That's the upshot of new research conducted by the global consultancy EY.

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Kansas lawmakers just approved legislation that greenlights merchant surcharging of credit card transactions in the state. That leaves just two states, Connecticut and Massachusetts, where credit card surcharging remains banned.

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On June 8, 2021, fraudtech specialist Kompli-Global launched The Great Kompli-Global KYB Bake-Off Challenge, an event designed to help companies assess their security postures. Following are excerpts from The Green Sheet’s interview with Martin Pashley, chief commercial officer at Kompli-Global.

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Austin-based AppBrilliance is giving consumers a new way to pay. Taking elements from the Federal Reserve's faster payments initiative and Zelle and Venmo peer-to-peer (P2P) money transfer schemes, the company said it developed a safe, cost-effective alternative to paying by cash, check or credit card. C. Eric Smith, chief executive officer and co-founder of AppBrilliance, calls the new payments scheme a Push-to-Business (P2B) payment model.

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The Federal Reserve is taking a hard look at the cryptocurrency market, with an eye toward issuing its own. Fed Chairman Jerome Powel first announced the "possibility of issuing" a digital currency (as cryptocurrencies are often described) last month. Fed Governor Lael Brainard later described the Fed's work in greater detail in remarks to a crypto conference.

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The Southeast Acquirers Association celebrated its 20th anniversary at the Hyatt Regency Coconut Point Resort in Bonita Springs, Fla., on May 24 to 26, 2021, with live music and nearly 1,000 attendees. With COVID restrictions lifting and growing numbers of people vaccinated, the SEAA served as a perfect reunion for payment professionals, event planners stated.

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Fintech executives and financial analysts are discussing the imminent departure of HSBC Holdings BLC from U.S. retail banking. Europe's largest bank, headquartered in London, will set its sights on the Asia Pacific market, selling off unprofitable U.S. outlets to channel partners, according to company representatives.

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