The coin shortage is so bad, banks will now pay you extra for change

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A chain of banks will pay you a 5% bonus for bring in your loose change. That’s better than the annual interest rate return on most savings accounts. As if we needed any more challenges in 2020, earlier this month a national coin shortage hit America . That right, America doesn’t have enough physical change to go around. And yep, you can blame that on the pandemic, too. In short, coins aren’t circulating through the economy as readily as they once were since people are going out and spending less–and opting for digital or contactless payments wherever they can. Read Full Story

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Waiting for a fourth stimulus check? Some states are sending direct payments, too

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Californians and Marylanders recently received direct payments, but stimulus packages at the state level are a bit trickier. It’s a new age of stimulus payments in America, where some households received 4-5 payments in the last year. (Who knew that the government could pay people directly?! Well, um, Europe.) If you thought stimulus payments come only from the Internal Revenue Service (IRS), think again: Some Californians were surprised to find $600 stimulus payments in their bank accounts this month. What’s going on with state stimulus payments? Read on. Read Full Story

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Cardlytics combines ad tech with fintech to create a unique walled garden for advertisers

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30-second summary: Atlanta-based Cardlytics is an ad platform that operates within banks’ native digital channels. Cardlytics brings the worlds of ad tech and fintech together within a fraud-free and brand-safe environment, offering a high degree of trust. Cardlytics boasts an audience within the US of more than 125M monthly active users. Larger than Snap, Twitter, and Pinterest. The Cardlytics platform enables banks to send offers to their end customers and enrich the banking experience by getting cash back. Advertisers can show ads to potential customers to motivate online and in-store purchases, and they’re also able to give their customers cash back. Cardlytics sees 1 in 2 of all credit and debit card swipes in the US, which enables them to understand how a bank user engaged with an offer through the platform and then went on to make a purchase. Cardlytics has helped customers get back nearly half a billion …

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4 useful strategies to resist the siren song of multitasking

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These tips go beyond the basics of silencing notifications and keeping set hours. If you worked from home during the past year, you probably found that the pros and cons occupy two sides of the same coin. One of the biggest upsides of remote work is you can create a focused, distraction-free environment. A downside is you and solely you are responsible for creating that focused environment. Read Full Story

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Banker Jane Fraser is democratizing the cashless economy

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She helped drive a new platform that enables anyone, including those without bank accounts, to make cashless payments. Mexico runs on cash—some 90% of transactions in 2018 were settled in cash, versus 26% in the U.S. Many Mexicans must travel or wait in line to pay for services, carrying cash that makes them susceptible to theft. Last year, the country’s central bank launched Cobro Digital (CoDi), a platform enabling anyone, including the 38% of Mexican adults without bank accounts, to make cashless payments. Jane Fraser, then Citibank’s CEO of Latin America, and her team helped design QR code specs to simplify transactions on mobile phones. She tapped Citibank experts from around the world (mobile banking is hugely popular in Asia) to work with the Mexico team to build and market the app. Today the bank’s Mexican subsidiary, Citibanamex, serves 6.5 million digital clients, and transactions under 8,000 pesos, or about …

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