“Three of the technology industry’s fiercest rivals — Amazon, Apple and Google — have aligned behind their shared business interest in promoting tech-friendly changes to the financial services sector,” Dawn Chmielewski reports for Re/code.
“The newly formed Washington, D.C., advocacy group Financial Innovation Now will look to influence the political debate on issues such as security and fraud prevention, real-time payments, online lending and access to basic financial services,” Chmielewski reports. “The contours of a changing world are already visible: More than 2,500 banks and credit unions support Apple’s mobile payments system, ApplePay, which is on track to be accepted at some 1.5 million retail locations by the end of the year.”
Chmielewski reports, “The group, which also includes Intuit and PayPal, will work to promote better security and authentication for users of financial services, access to basic financial services for the two billion people in the world who are underserved, speedier processing of payments and streamlined rules for online lending.”
Read more in the full article here.
MacDailyNews Note: More info: http://financialinnovationnow.org