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May 18, 2021
On the web
Goldman to Launch Marcus UK Robo-adviser Early Next Year
Reuters
“Goldman Sachs (GS.N) will launch an app for UK users of its digital bank Marcus over the following weeks and plans to offer automated investment management to clients in the country by the first quarter of next year. The U.S. bank has attracted just over $30 billion in UK deposits since launching a savings account in 2018, accounting for 30% of Marcus’s deposits globally, Des McDaid, the head of Marcus UK, told Reuters.”
May 17, 2021
On the wires
Samsung Makes It Easier to Use Blockchain on Galaxy Devices With Support for Hardware Wallets
“Samsung Electronics announced that blockchain users can now manage and trade virtual assets from third-party wallets on Samsung Galaxy smartphones. The update makes it easier for blockchain users to access and process transactions by importing virtual assets stored on select cold hardware wallets to the Samsung Blockchain Wallet available on most Galaxy smartphones. Support for hardware wallets provides Galaxy blockchain with a consistent user experience of managing crypto assets from one convenient location.”
Appetize Launches New Payment Technology for Sports and Entertainment Venues, Hospitality and Restaurants
“Today, Appetize , the leading digital commerce platform, is introducing Appetize Payments, an all-in-one solution that combines payment processing services along with Appetize’s best-in-class cloud software. Launched at a time when larger venues and hospitality brands are looking to unify their tech stack, Appetize Payments eliminates the need for expensive third-party services, provides transparency in pricing, and offers a single point of support.”
May 14, 2021
On the web
New Generation of Digital Banks Bets on Minority Markets
Reuters
“Daylight estimates there are 30 million Americans who identify as LGBTQ. It is among a cohort of new digital banks in the United States targeting communities where many people say their needs have not been met by mainstream lenders. Such startups include First Boulevard and Greenwood, both focused on serving Black Americans, Cheese Financial aimed at the Asian community and Majority serving immigrant groups. “Historically, community banks have focused on cheaper customer acquisition by focusing on an underserved geography,” said Ian Kar, founder and CEO of research firm Fintech Today. “The internet removes geographical restrictions. Developing banking services around people’s identity, like race and sexual orientation, is a modern approach.””
On the wires
How EMVCo Is Supporting the Rising Use of QR Codes for Payments – EMVCo
“Advances in technology are making secure card payments possible in new ways – whether online or face-to-face. EMV® Specifications have evolved beyond the original EMV Chip Specification to support a wide range of technologies for card-based payments, including contactless, mobile, tokenisation and QR Codes™. Increasingly, QR Codes are used to initiate mobile payments at the point-of-sale. They are rising in popularity as they are one emerging solution that can enable contact-free payments.”
May 13, 2021
On the wires
PayPal Accelerates Its Digital Transformation With Google Cloud to Support Customer Needs During Pandemic–and Beyond
“Google Cloud and PayPal today announced they are deepening their relationship to further accelerate PayPal’s digital transformation and evolving customer needs. Under this expanded relationship, Google Cloud will provide both infrastructure and analytics capabilities to support PayPal’s growth, helping the company process transactional data at massive scale.”
May 12, 2021
On the web
Asym Capital Raises $15MM for ATMs
Digital Journal
“Asym Capital (Asym) , a private equity group in Los Angeles, CA recently announced that they had placed over $15,000,000 in the ATM business over the last few months. Asym’s founder, Hunter Thompson, is confident that the ATM business isn’t going anywhere anytime soon, despite the recent discussions surrounding government-issued digital currencies.Read more: https://www.getnews.info/1128294/asym-capital-raises-15mm-for-atms.html#ixzz6uepc3eoz“
May 11, 2021
On the web
Munich Airport – First Airport in Europe With Integrated PayPal QR Code
ftnnews
“Munich Airport becomes the first airport in Europe to introduce PayPal QR Code – a mobile and cash-free payment system – in all stores and businesses of the Eurotrade retail subsidiary…The new QR code will be seamlessly integrated into the processes of existing check-out systems including accounting. The payment process for this is as secure as it is uncomplicated: if customers would like to pay, they open the QR code in the PayPal app on their smartphone and show it to the cashier. The cashier scans the code and the amount to be paid is shown directly in the app. Next, customers select their preferred payment method stored in their PayPal account – for example bank account or credit card – and confirm the payment on their smartphone. Customers as well as cashiers immediately receive a confirmation of the successful transaction.”
May 10, 2021
On the web
Amazon’s Palm-reading Payment Tech Is Now Available in New York City | Engadget
Engadget
“You no longer have to shop in Washington state to use Amazon’s palm-reading technology . MarketWatch reports that Amazon has introduced One to New York City, making the biometric authentication available in the Amazon Go store at 11 West 42nd Street. It functions just like it did before. Once you’ve signed up, you just need to hover your palm above a reader to enter the store and approve your purchases. You don’t have to touch a thing besides the goods you’re buying.”
May 7, 2021
On the web
Bux Bringing You More Cashless Payments Options With QR Payments
Manila Standard
“Bux, UBX’s embeddable end-to-end payment platform, launches universal QR payments enabling over 100,000 Bux merchants to accept payment with just a scan from their customers’ mobile devices…With a universal QR code that is digital, printable, and customizable, Bux provides its merchants a significant advantage—a much easier way for customers to pay digitally, even in physical locations, by just using the camera of a customer’s mobile phone. This means, less hassle for merchants, greater safety, and flexible options for their customers when it comes to payments.”
April 30, 2021
On the wires
Rho Technologies Announces $100 Million in Financing to Transform Business Banking
Rho Technologies, the high-growth fintech behind Rho Business Banking, announced $100 million in debt financing from global impact investment firm, Community Investment Management (CIM)…Rho Business Banking has built a modern commercial banking platform built around the way companies operate today: distributed, team-oriented, transparent and built for scale.
April 28, 2021
On the web
Are You Sure About the Safety of That QR Code?
TechRadar
“It is predicted that by 2022, over five billion QR codes will have been scanned or accessed by mobile devices. A QR code is an additional form of contactless communication that, once scanned, either relays information or directs an individual to another online source, website or application. QR code adoption has increased with the contactless way of life that many of us have had to adjust to, especially during the worldwide pandemic.”
NFC Forum Releases Specifications for Secure Data Transfer Between NFC Devices
NFCW
“The NFC Forum has released two specifications that set out a standardised cryptographic framework for enabling secure data transfer between NFC mobile devices and the development of applications using a secure communications channel between paired NFC devices.”
On the wires
DBS, J.P. Morgan and Temasek to Establish Platform to Transform Interbank Value Movements in a New Digital Era
“Acknowledging that the future of global payments is on the cusp of a fundamental shift, DBS, J.P. Morgan (NYSE: JPM) and Temasek today announced plans to develop an open industry platform to reimagine and accelerate value movements for payments, trade and foreign exchange settlement in a new digital era, through a newly-established technology company. The company, Partior, aims to disrupt the traditional cross-border payments ‘hub and spoke’ model, that has resulted in common pain points, including multiple validations on payment details by banks, which translate to costly and onerous post transaction exception handling and reconciliation activities.”
April 27, 2021
On the wires
Merchants Can Offer More Touch-free Ways to Pay As Fiserv Brings PayPal and Venmo QR Code Payments to the Point of Sale
“Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, is enabling businesses of all sizes across a range of industries to support in-demand digital payment options and expand their touch-free payment capabilities via a new relationship with PayPal. Small and mid-sized businesses using Clover ® and large enterprises leveraging the Carat omnichannel commerce ecosystem from Fiserv will be able to accept payment via PayPal and Venmo through QR codes presented at the point of sale. Consumers will be able to initiate payment by scanning the QR code with their PayPal or Venmo app, and will receive a digital receipt.”
April 21, 2021
On the web
Blockchain Company Digital Asset Holdings Raises $120 Million
Bloomberg
“Digital Asset Holdings LLC , the blockchain software developer that caters to corporate applications, raised more than $120 million from investors 7Ridge and Eldridge. The company will use the funds to expand its global workforce by 50% this year and add to its mix of products, according to a statement. The latest round follows a $45 million fundraising last year that included investments from Salesforce.com Inc. and Samsung Electronics Co.”
April 16, 2021
On the web
Restaurant payment app secures Europe’s largest seed-funding round
FT
“More than 1,000 restaurants and hotels have signed up to the app, including Corbin & King, owners of the Wolseley and Delaunay in London, Four Charles Prime Rib in New York and the Hoxton chain, which runs nine hotels across Europe and the US. It involves customers scanning a QR code on their table to pay the bill without having to catch the attention of waiting staff or take time over credit card machines.”
JPMorgan Testing Blockchain Solution With Taiwanese Banks
CoinDesk
“JPMorgan launched a blockchain solution that aims to reduce the number of rejected or returned payments. The U.S. banking giant said Monday it is testing the solution “Confirm” with 12 banks in Taiwan including CTBC Bank, Taiwan Cooperative Bank and First Commercial Bank for money transfers to Indonesia using JPMorgan’s clearing solution “PayDirect.”The banks will be able to request and receive confirmation of beneficiaries’ account information in near-real time, according to JPMorgan’s announcement.”
QR Code Payment Link Formed Between Thailand and Vietnam
QR Code Press
“The Bank of Thailand and the State Bank of Vietnam have launched a new QR code payment link between the two countries to allow cross-border transactions. The QR code payment link will allow for cross-border payments to take place . Moreover, it will make it possible for the two countries to be able to use their local currencies with each other. Through this new connection, the financial markets in both countries are expected to be able to see enhanced capital flow. It is also expected to provide the regional economies with meaningful stimulus.”
Silicon Valley’s Clipper All-in-one Transit Card Finally Adds Apple Pay
The Verge
“Silicon Valley might seem like a shining beacon of technological progress to some onlookers, but natives know it can be weirdly hit and miss — like how the San Francisco Bay Area has long had a physical tap-to-pay card that’ll let you onto practically every form of public transit, and yet never let you simply tap your phone or smartwatch to do the same. Until today — because starting today, the Clipper Card supports Apple Pay , including its Express Mode where you don’t need to wake the device or open an app first.”
April 15, 2021
On the wires
Netstars Raises JPY6.6 Billion From Investors Including KKR, SIG and LUN Partners | NETSTARS CO., LTD
“Netstars Co., Ltd. (“Netstars” or the “Company”), the operator of Japan’s largest QR code payment gateway, today announced the completion of a JPY6.6 billion funding round. The round, which was made through a combination of a capital infusion and the allotment of new shares, includes a JPY4 billion investment made from funds managed by global investment firm KKR. SIG and LUN Partners also participated in the round. Headquartered in Tokyo and led by CEO Tsuyoshi Ri, Netstars is a payments aggregator and a FinTech company. The Company operates StarPay, Japan’s leading payments aggregation solution which integrates a variety of payment providers into a single device or software platform, allowing for efficient point-of-sale processing for consumers across multiple payment apps.”
April 14, 2021
On the wires
Fidesmo and ISBC Reach Millions of Potential Users in Russia
“Fidesmo enters Russia together with the company ISBC and reaches millions of potential users as eight leading Russian banks now offer the wearable payment service Fidesmo Pay. The Swedish tech company continues to expand its payment service Fidesmo Pay and today enters Russia together with ISBC, which specializes in RFID devices, and eight* leading banks, all issuing Mastercard cards. Fidesmo Pay enables the banks to offer their customers a more convenient and secure way to make contactless payments, by letting them tokenize their payment card onto a wearable of their own choice.”
April 13, 2021
On the wires
Toast Launches Enhanced Contactless Suite to Help Increase Restaurant Revenue and Support Restaurateurs in Reimagining Hospitality
“Toast , the fastest-growing restaurant management platform, today launched an enhanced suite of contactless and guest-facing solutions to help restaurateurs reimagine operations and reduce overhead as they rebound from the COVID-19 pandemic. Today, Toast debuted updates to its Toast Order & Pay™ solution, including pre-authorization tabs and group ordering. Designed to meet the ever-increasing demand for contactless solutions, Toast Order & Pay™ enables guests to order and pay in a restaurant via smartphone.”
Partnership With ConsenSys Supports the Future of Multi Blockchain Commerce
“Mastercard and ConsenSys have announced a partnership to power the future of commerce. ConsenSys, a software engineering firm in the blockchain space, provides tools and services to support the Ethereum ecosystem and helps developers build next-generation networks to enable companies to launch more powerful financial infrastructures and technology. ConsenSys Quorum is an open-source protocol layer that enables enterprises to leverage Ethereum for their private or public production blockchain applications. Quorum includes customizable features required for enterprises to operate a secure, scalable permissioned network. As part of Mastercard’s multi-blockchain strategy, it will work with ConsenSys on a variety of initiatives.”
April 12, 2021
On the web
Patent Shows How Apple Pay Could Automatically Select a Card Based on the User’s Location
NFCW
“Apple Pay users could be able to make contactless payments and other transactions with merchants or transit providers without having to manually select the correct payment, rewards or transit card or other digital credential from within their mobile wallet. Technology that would enable Apple Pay to automatically choose the stored card or credential most appropriate for a particular contactless transaction at a terminal close to a user’s location is described in a patent filed by Apple and recently granted by the US Patent and Trademark Office.”
April 9, 2021
On the web
IDB-backed LACChain Tokenizes Citi Payments, Partners With Overledger – Ledger Insights – Enterprise Blockchain
Ledger Insights
“Today the Inter-American Development Bank (IDB) announced it had executed a cross-border payment using blockchain as part of a proof of concept involving Citi Innovation Labs . The solution used the LACChain blockchain network, a public permissioned consortium blockchain for Latin America and the Caribbean backed by IDB. Separately, LACChain also announced a partnership with Quant, the creator of Overledger. In terms of the Citi payment trial, IDB deposited money in its U.S. Citi bank account. Using Citi’s WorldLink payment APIs, the blockchain accessed the money, tokenized it and made transfers with a digital wallet.”
April 7, 2021
On the web
Brink’s Acquires Biggest Privately Held Provider of ATM Services in U.S. PAI Inc.
MarketWatch
“The Brinks Co. BCO, -0.91% said Tuesday it has acquired PAI Inc., the biggest privately held provider of ATM services in the U.S., for $213 million…”A primary goal of Brink’s Strategy 2.3 is to offer ATM solutions integrated with other Brink’s solutions to provide complete, end-to-end cash management,” the company said. The deal brings the company a platform of ATM services and more than 100,000 ATM service locations in the U.S. In Europe, Brink’s will take full ownership and provide managed services to financial institutions for more than 11,000 ATMs.”
Apple Pay Goes Live in South Africa
NFCW
“Apple Pay has rolled out in South Africa with support for Visa cards issued by Absa and Discovery Bank and for Visa, Mastercard and American Express cards issued by Nedbank . Apple Pay has now added the three South African banks to the list of banks and payment cards it supports , and “by midday on Tuesday South Africans were reporting success in buying coffee and fried chicken by using their iPhones, or Apple Watches, instead of a payment card, as Apple Pay quietly went live,” according to Business Insider South Africa .”
On the wires
One Billion Additional Touch-free Visa Payments Made As Consumers Embrace Contactless Commerce
“Visa today announced that it has processed one billion additional touch-free payments1, where previously consumers would have needed to enter their PIN, as consumer confidence in contactless payments continues to grow. This milestone has been reached in less than a year since contactless payment limits were increased in 29 countries across Europe in response to the Covid-19 pandemic.”
April 6, 2021
On the web
Facebook Confirms ‘test’ of Venmo-like QR Codes for Person-to-person Payments in U.S.
TechCrunch
“Facebook confirms it’s testing a new QR code feature and payment links for use with Facebook Pay to make it easier for people in the U.S. to send or request money from one another. The QR code feature, similar to Venmo’s QR codes and others, will allow a user to scan a friend’s code with their smartphone’s camera to send or request money, while the sharable payment links will let you publish your payment address outside of Facebook itself. The addition was first spotted on Monday by MacRumors , which noted that users were being presented with a new “Scan” button in the Facebook Pay carousel at the top of the screen.”
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