Western Union (WU) Strong on Digital Arm, Business Rejig

At a time when remittance volumes across the globe have weakened due to COVID-19, Western Union Co. WU is trying to stay afloat with investments in its digital platform and business streamlining.

The company’s revenues have been under pressure over the past many years due to rising competition. Grappled with this, it prioritized investment in its digital money transfer arm as a key strategy to achieve long-term growth.

In fact, substantial work done on the digital front enabled this payment processor to tide over the ongoing difficult operating conditions posed by COVID-19. In the first, second and third quarter of 2020, WU.com saw respective 15%, 45% and 47% growth in average monthly active customer base. Also the September quarter saw the Western Union app getting downloaded maximum number of times by its customers compared with its peers. The company’s digital business provides incremental growth and attractive economics.

The company is

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A cashless Super Bowl: Why the NFL and Visa want stadiums to pivot to digital payments

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As live sports have groped for handholds during the pandemic, Visa and the NFL have been busily collaborating on no contact fan experiences in preparation for the eventual return of spectators. Recently, Visa and the NFL announced they are — in their own words — putting “a stake in the ground for the future of live events by announcing completely cash-free for all Super Bowls moving forward,” according to a spokesperson. These efforts will take effect starting in Tampa this year.

Also: Best POS systems in 2020: Get the right one for your business 

“Visa is one of our key partners in helping us imagine how our fans will experience the NFL in years to come,” says Renie Anderson, Executive Vice President of Partnerships & Chief Revenue Officer for the NFL. “We’re excited to announce that for our biggest event the future is here and we thank Visa

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RBI curbs HDFC Bank’s digital, credit card operations

MUMBAI (Reuters) – The central bank has forbidden India’s largest private lender HDFC Bank from adding new credit card customers or launching digital businesses after its digital payment services were hit by a power failure last month.

FILE PHOTO: The headquarters of India’s HDFC bank is pictured in Mumbai, India, December 4, 2015. REUTERS/Shailesh Andrade/File photo

The Reserve Bank of India has asked the bank’s board to examine the lapses and fix accountability, the lender said in a stock exchange filing on Thursday.

It said the central bank would consider lifting the curbs on “satisfactory compliance with the major critical observations” it had made.

“We are working on war footing,” said Sashi Jagdishan, Managing Director & CEO of HDFC Bank in a statement to customers published on the bank’s website. “We will work with experts and the regulator to fortify the identified areas for improvement.”

On Nov. 21, HDFC Bank’s

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India’s central bank curbs HDFC Bank’s digital, credit card operations

Adds analyst quote, more background

MUMBAI, Dec 3 (Reuters)The central bank has forbidden India’s largest private lender HDFC Bank HDBK.NS from adding new credit card customers or launching digital businesses after its digital payment services were hit by a power failure last month.

The Reserve Bank of India has asked the bank’s board to examine the lapses and fix accountability, the lender said in a stock exchange filing on Thursday.

It said the central bank would consider lifting the curbs on “satisfactory compliance with the major critical observations” it had made.

“We are working on war footing,” said Sashi Jagdishan, Managing Director & CEO of HDFC Bank in a statement to customers published on the bank’s website. “We will work with experts and the regulator to fortify the identified areas for improvement.”

On Nov. 21, HDFC Bank’s digital payments business went down for more than 12 hours

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How Small Business Leaders Can Leverage Digital Marketing To Drive Growth

Zohaib Hassan is the CEO/Founder of SnapWeb Services, an ROI driven, data-obsessed full-services digital marketing agency.

Covid-19 hit the world by surprise and left more than 14 million Americans unemployed with 31% of small and medium-sized businesses having to shut down their doors. Consumer confidence drives the U.S. economy and with uncertainty still on the horizon, business owners should consider the value of their advertising expenditures.

The Current State Of Affairs

According to Facebook’s State of Small Business Report, the hospitality and service industry took the hardest hit across all sectors (43%) and wellness, fitness, and other professional services followed close behind (41%). Surprisingly the retail industry wasn’t nearly as affected with 23% of businesses not operating.

When asked about their cash flows within the past 30 days it was clearly evident that cash outflow is greater than their inflow. This has led many business owners to turn

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Flipkart’s Digital Payments Firm PhonePe to Raise $700 Million From Existing Investors | Investing News

NEW DELHI (Reuters) – PhonePe, the digital payments unit of Walmart’s Indian e-commerce arm Flipkart, said on Thursday it would sell a stake to existing investors for $700 million, helping it fuel growth in a crowded market that includes Google and Amazon .

PhonePe’s fundraising, from Flipkart investors led by Walmart, will give it a valuation of $5.5 billion, the company said in a statement.

PhonePe is also using the opportunity to assert its independence from the Flipkart Group which runs a successful e-commerce business in India rivalling Amazon’s local unit.

It will have its own board of directors, which will include founder and CEO Sameer Nigam and former Flipkart boss Binny Bansal, who is no longer at the company he co-founded.

PhonePe will also have employee stock ownership plans separate from Flipkart, which will continue to be its majority shareholder, the statement said.

“We are really excited to have

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Mastercard: Treasury Banks Prioritize Digital Payments

The digital shift brought on by the coronavirus has caused treasury banks to reprioritize their support of digital payments as consumers and merchants increasingly demand fast, easy and secure ways to get their money. And while the origins of that trend pre-date the current crisis, Silvana Hernandez, senior vice president of digital payments at Mastercard, tells PYMNTS that the pandemic has sped up the process.

“I think it all starts and ends with the consumer — and what we’re seeing is that consumers, more than ever with COVID, want digital experiences,” Hernandez said.

She added that as consumers lean on merchants, those merchants have started to lean on their banks to offer solutions that are faster and more convenient than simply moving money by check or ACH. But as Hernandez noted, the fact that many treasury banks still have complex legacy systems in

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Global Electrical Digital Twin Market 2020 Technological Strategies, Business Advancements and Top-Vendor Landscape to 2025

The MarketWatch News Department was not involved in the creation of this content.

Dec 02, 2020 (CDN Newswire via Comtex) —
Global Electrical Digital Twin Market 2020 by Company, Type and Application, Forecast to 2025 published on MarketQuest.biz provides an in-depth analysis of industry- and economy-wide database for businesses that could offer profitable development for players in this market. The report gives a detailed study of global Electrical Digital Twin market size, share, and dynamics. In this research, analysts have illustrated market trends. The report has covered major key players of the market which are also profiled on the basis of business strategies, financial weaknesses, and strengths, and recent development. The report analyzes rapidly changing market scenarios and initial and future assessment of the market. The document offers a special assessment of collaboration, partnership, acquisition, and new product launch of the major key players.

The report focuses on primary and

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India’s central bank puts curbs on HDFC Bank’s digital, credit card operations

MUMBAI, Dec 3 (Reuters)The central bank has forbidden India’s largest private lender, HDFC Bank HDBK.NS, from adding new credit card customers or launching digital businesses after its digital payment services were hit by a power failure last month.

The Reserve Bank of India has asked the bank’s board to examine the lapses and fix accountability, the lender said in a stock exchange filing on Thursday.

“The above measures shall be considered for lifting upon satisfactory compliance with the major critical observations as identified by the RBI,” it added, referring to the central bank’s curbs.

On Nov. 21, HDFC Bank’s digital payments business was down for more than 12 hours, following a power outage in its primary data centre.

Shares of HDFC Bank turned negative after its statement, giving up earlier session gains of more than 1%, and were last trading down 0.3% by 0516 GMT.

“The bank

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AdTheorent Lauded by Frost & Sullivan for Driving the Next Generation of Digital Advertising Strategies

AdTheorent honored due to its advanced machine learning technology and solutions which drive business results for advertisers

SANTA CLARA, Calif., Dec. 2, 2020 /CNW/ — Based on its recent analysis of the North American digital advertising market, Frost & Sullivan recognizes AdTheorent, Inc. with the 2020 North American Growth Excellence Leadership Award. Notably, AdTheorent is the only company in Frost & Sullivan’s 59-year history to become a five-time recipient of this prestigious recognition.  AdTheorent’s machine learning (ML) platform powers its predictive targeting, geo-intelligence, and audience extension solutions, and its in-house creative team, Studio AT, helps brands connect with users through executing engaging, next-level advertising campaigns. Accessing only non-sensitive data and focused on the predictive value of ML models, AdTheorent’s product suite helps advertisers identify the most qualified individuals to drive campaign performance.

At its core, AdTheorent’s ML platform combines millions of data attributes into precise and accurate adaptive models,

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