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You could soon get cash from ATMs using Apple Pay
FinTech
You could soon be able to withdraw cash from ATMs using Apple Pay, negating any need to carry a credit or debit card around with you, reports TechCrunch. According to its sources, Bank of America and Wells Fargo are both working to enable Apple’s digital wallet service to withdraw cash from ATMs by placing their iPhones near the cash machines
P2P solution to China Inc's unpaid bills?
FinTech
China CITIC Bank, a unit of the country's biggest investment group, uncovered a Rmb1 billion ($152 million) fraud last year in its bill financing business. Apparently an employee at its Lanzhou branch falsified documents that were used as collateral to get a banker's acceptance note. But, more serious for corporate China is failing to get paid after presenting genuine bills. The
Kill the paper trail: finance document startup could save banks 50% on drafting negotiations
FinTech
The fast-track cloud-based negotiations and documents startup ClauseMatch is one of the 15 FinTech startups selected to take part in Accenture’s 2016 FinTech Innovation Lab in London, reports FinBuzz. ClauseMatch is a platform that helps streamline the workflow of documentation providing real-time editing, approvals and tracking in trade agreements for derivatives and commodities. ClauseMatch founders claim if ClauseMatch is implemented into the workflow
Ditching paper: Which country will go cashless first?
FinTech
Britain is becoming a "cash-second" nation. On Tuesday, Visa Europe said contactless payments in the U.K. soared by 11.5% in 2015, while boasting that point-of-sale spend had risen 9.6%. Kevin Jenkins, the firm's MD for U.K. and Ireland, even told Finextra that in five years' time cash will be seen as a "peculiar way of paying for things." His comment chimes
What is dead may never die: Are Chinese miners really killing bitcoin?
FinTech
Bitcoin is on its death bed. At least, that's what Mike Hearn -- a high-profile supporter and developer of the cryptocurrency -- is insisting. Last week he wrote a lengthy blog on the demise of the currency called "The resolution of the Bitcoin experiment." The post summarizes Hearn's reasons for selling his Bitcoin, giving up on the project, and joining blockchain
Virtual currencies as a weapon of state control
FinTech
Do governments see crypto-currencies as a threat or a tool? At the Asian Financial Forum in Hong Kong this week, former Federal Reserve chairman Ben Bernanke was adamant that Bitcoin et al would not become mainstream. State authorities would resist its adoption because of its anonymity and hence use in drug trafficking and for financing terrorism, he argued. Yet, the
Blockchain a boon to emerging markets, but commercialization will take time (corrected)
FinTech
Blockchain -- the technology behind bitcoin -- is not only making waves in the banking industry, but its application could also have a big impact on emerging economies. Speaking at a panel on financial innovation at Asian Financial Forum on Tuesday, Gregory Gibb -- chairman of Shanghai Lujiazui International Financial Asset Exchange -- noted that blockchain's could fill the gap around
Video: Why Bill Gates is investing in mobile banking
FinTech, Video
Mobile banking may have its fair share of skeptics, but Bill Gates is definitely not one of them. Bloomberg’s Erik Schatzker recently spoke with the Microsoft multi-billionaire and traveled to Bangladesh to see how one of Gates’ investments – bKash – has been changing the game of Bangladeshi finance. Check it out. Photo: Mohammad Jangda
Is cash no longer king? – A guide to non-cash payment methods [Infographic]
FinTech
Click to enlarge Via Paper2paper This infographic originally appeared in ValueWalk. Photo: FamZoo staff
The 5 big fintech trends in emerging markets   
FinTech
Fintech is not just about making it easier to buy a mocha latte. In the developing world, it is also about offering financial services to millions of people who have never had a bank account before. Financial inclusion is a big theme in fintech. A recent report by the World Bank claims 700 million adults became account holders for the first time