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Daily Tearsheet: Digital payments are driving the future of payments, and Tearsheet’s guide to Bankchain 2022

  • Tearsheet's 2022 Guide to Bankchain is now published.
  • Also, the future of contactless payments is being defined on public transit.
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Daily Tearsheet: Digital payments are driving the future of payments, and Tearsheet’s guide to Bankchain 2022

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Digital payments are driving the future of payments

As people get back out into the world, many increasingly plan to use public transportation to reach their destinations, whether they are traveling to work, school, or leisure activities. Visa’s second Future of Urban Mobility Survey found that nearly half (42%) of respondents intend to increase their usage of public transit over the next year.1 An overwhelming majority (91%) of surveyed riders either strongly or somewhat expect contactless payments to be an option in their transit experiences and nearly half (45%) said that it was their preferred method of payment.

The findings suggest that the role of transit in everyday life is becoming more significant. And with that, operators need to be ready to meet the demands of passengers seeking an experience that is optimized for efficiency, convenience, and inclusivity.

Visa’s Future of Urban Mobility Survey has made it clear that digital payments are becoming the norm.

Read more (sponsored by Visa)

The 2022 guide to Bankchain

Before the crypto winter we’re experiencing, was an extended bull run that lasted years. But the story about digital assets isn’t about betting on this or that coin. And it isn’t just about DeFi, which is an end around the existing financial industry and institutions. 

The story runs deeper – blockchain and Web3 technologies provide an evolutionary force on financial services. The combination of both these new technologies with a traditional banking stack is where we’re focused. What is the role of a bank in a world of digital assets? If you need institutional trust to grease the wheels of money movement, what does that look like in a world of digital assets? 

Tearsheet’s Bankchain Guide looks at the trends behind traditional FIs adopting new blockchain technology in 2022.

Read the full guide here

Just look at the charts

1.  The state of the embedded finance opportunity

Source: Florian Graillot

2. The growth of consumer fintechs and embedded finance

SourceFintech Business Weekly

Today’s stories

Goldman hires senior Google executive for the new innovation group
Goldman Sachs is adding Alphabet’s Jared Cohen to help start a new innovation group with co-chief information officer George Lee — this is the latest step GS has taken to inject a technology focus into the incumbent investment bank (CNBC)

Capital One Business to integrate Melio into B2B payments stack 
Capital One Business has launched a fully integrated accounts payable solution with Melio, a leading B2B payments platform for small businesses — this strategic partnership will enable Capital One small business cardholders to pay their vendors and suppliers with a card, even if they do not accept credit cards, directly from their Capital One Business account (Finextra)

US state regulator views crypto lender Celsius as “deeply insolvent”
Troubled crypto lender, Celsius Network, “is deeply insolvent,” alleged the U.S. state of Vermont’s Department of Financial Regulation (DFR), noting that the lender lacks the assets and liquidity to honor its obligations to account holders and other creditors (CoinDesk)

US Treasury calls for public comment on digital asset policy, following Biden’s executive order
The US Department of the Treasury has requested comments from the public on the potential opportunities and risks of digital assets in compliance with President Joe Biden’s executive order from March — input from the public will “inform its work” in reporting to the president on the possible implications of digital assets on the financial markets and payment infrastructure (Cointelegraph)

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