{{content.title}}

Companies, Investment / IPO / M&A

PayPal Starts Deeper Integration With Google; Users Can Now Pay Directly In Gmail, YouTube And More

Tags:
Google
PayPal

"Google earlier this year rebranded all of its payment services under Google Pay to help it double down on making transactions across its platform more frictionless (and more used). Now comes another development: PayPal and Google are kicking off a deep integration, where users who add their PayPal ...More

Domains

Visa, Mastercard Push For One-Click Ordering. Retailers Say ‘Not So Fast’

Tags:
Remote Commerce

"The retailers, working through merchant trade groups, have flagged issues around the networks’ recently announced plan to combine their individual payment buttons on merchants’ online checkout pages. The networks say the move is largely aimed at simplifying the checkout process and making it more s...More

Standards

Counterfeit Fraud Declines Sharply In US Since Shift To Chip Cards: Visa

Tags:
EMV cards

"Visa has published a new infographic that revealed a 76% decline in counterfeit fraud from December 2015 to December 2017 due to increased EMV chip cards and chip-enabled merchants in the US. The company noted that it registered growth across the number of chip cards and chip-enabled merchants, pay...More

Systems

U.S. Launches Criminal Probe Into Bitcoin Price Manipulation

Tags:
Cryptocurrencies

"The investigation is focused on illegal practices that can influence prices -- such as spoofing, or flooding the market with fake orders to trick other traders into buying or selling, said the people, who asked not to be identified because the review is private. Federal prosecutors are working with...More

Systems

Why Banking Startups Are Rolling Out Crypto Products

Tags:
Cryptocurrencies

"Banking startups, with their eyes on potential millennial and Gen Z customers, now view crypto offerings as necessities. While Revolut and SoFi may be early movers among banking startups, startup investment companies like Robinhood and Circle are already rolling out product offerings for crypto inv...More

On The Wires

Visa Makes Strategic Investment In YellowPepper To Accelerate Adoption Of Mobile Payments And Tokenization In Latin America And The Caribbean

Tags:
Visa

"Visa (NYSE: V) today announced a strategic investment in YellowPepper, a mobile payments pioneer in Latin America, to help accelerate innovation in digital payment technology. The first of its kind for Visa in the region, the strategic investment reinforces a shared vision for increasing usage of m...More

25% Of All Cross-Border Payments Now Over gpi

Tags:
SWIFT

"SWIFT’s global payments innovation, launched just 15 months ago, now represents 25% of all SWIFT cross border payment traffic, according to the latest data. SWIFT gpi, the most transformational change in cross-border payments in 30 years, dramatically enhances the customer experience by increasing ...More

Security, Standards

Patientco Launches Cloud-Based Validated P2PE Payment Terminals With Seamless EPIC Credit Card Device Framework Integration

Tags:
P2PE Validation

"Patientco, the leading healthcare payments technology company that helps health systems deliver a superior patient financial experience and increase patient revenue, announced today it has developed and deployed the market’s first cloud-based validated point-to-point encrypted (vP2PE) EMV terminals...More

May 23, 2018

Headline News from PaymentsNews.com

Regulation

Congress Approves First Big Dodd-Frank Rollback

“The bill stops far short of unwinding the toughened regulatory regime put in place to prevent the nation’s biggest banks from engaging in risky behavior, but it represents a substantial watering down of Obama-era rules governing a large swath of the banking system. The legislation will leave fewer than 10 big banks in the United States subject to stricter federal oversight, freeing thousands of banks with less than $250 billion in assets from a post-crisis crackdown that they have long complained is too onerous.”

Tags:
Dodd Frank

On The Web

Market Reports

More Than 70% Of Retailers Run On Outdated Paytech

"Research from Barclaycard has revealed that more than seven in ten retailers haven’t introduced any new payment technology to their website in the last two years. While 86% of retailers say they are looking to increase online transactions over the next 12 months, the study suggests that many aren’...More

Why China’s Payment Apps Give U.S. Bankers Nightmares

Tags:
Mobile wallets

"The future of consumer payments may not be designed in New York or London but in China. There, money flows mainly through a pair of digital ecosystems that blend social media, commerce and banking—all run by two of the world’s most valuable companies. That contrasts with the U.S., where numerous fi...More

Megabanks Agree To Unify Standards For QR Codes

Tags:
QR codes

"As part of efforts to encourage the use of cashless payments for goods and services, the three megabanks have agreed to unify their standards for QR codes, which customers can use to make payments without cash through their smartphones. Their aim is to reduce the costs associated with handling cash...More

May 22, 2018

Headline News from PaymentsNews.com

Jamie Dimon Is Not Messing Around

“In the past two years alone, JPMorgan has poured more than
$20 billion into new products for digital banking, investment advice, trading, and cybersecurity. A frequent visitor to Silicon Valley, Dimon has partnered his bank with fintechs in peer-to-peer consumer payments and small business loans, online mortgages, and auto financing. Instead of fearing fintechs as disrupters, JPMorgan treats them as subcontractors — and has invested in more than 100 of them.”

Tags:
JPMorgan Chase

On The Web

Online Lender Kabbage To Launch Payment Services By Year-End

"The Atlanta-based startup will offer tools to enable clients, mostly brick-and-mortar businesses, to accept card payments in-store and online, Petralia said in an interview. “The monoline businesses have a hard time succeeding long term,” Petralia said, adding that Kabbage hopes the move would deep...More

Domains

Grab Collaborates With Maybank To Bring Digital Wallet To Malaysia

Tags:
Mobile Payments

"The move, which is subject to regulatory approvals, will enable Grab users to use GrabPay at Maybank’s key merchants and allow Maybank customers to make payments through Maybank QRPay at GrabPay merchants. The tie-up will also allow consumers to directly top-up cash to their mobile wallet through M...More

Domains, Tech

A Bank In Argentina Is Now Using Bitcoin For Cross-Border Payments

"Argentina's Banco Masventas has revealed that starting Monday it will enable customers to send cross-border payments using bitcoin. A partnership with Latin America-focused exchange startup Bitex, founded in 2014, the news finds the regional bank using bitcoin as a payments rail in international tr...More

Adobe to Acquire Magento For $1.68B

"Adobe announced today that it was acquiring Magento for $1.68 billion. The purchase gives Adobe a missing e-commerce platform piece that works in B2B and B2C contexts and should fit nicely in the company’s Experience Cloud. It should also help Adobe compete with Salesforce, which offers its own mar...More

Alibaba’s Entry In Pakistan Hailed As Boost For Digital Economy

"Alibaba Group Holding's recent purchase of a Pakistan-based online retailer has positioned the Chinese technology conglomerate to make inroads in e-commerce across South Asia, but the acquisition has raised expectations of robust growth in an industry that many experts say performs well below its p...More

Regulation

Wyoming Changed Its Laws To Attract Cryptocurrency Startups

"The cowboy state’s Republican Governor Matt Mead signed a number of laws that are set to attract the booming crypto industry to the state. The state also has tried to explain what cryptocurrency is, terming it as a type of digital currency that can be redeemed for goods and services. It’s laws also...More

On The Wires

TransUnion Announces Agreement To Acquire iovation To Strengthen Fraud And Identity Solutions

"iovation pioneered the device intelligence industry and provides a highly advanced digital device reputation consortium, with insight into nearly 5 billion unique devices from more than 35,000 leading brands across more than 50 countries. With technologies that can dynamically identify new fraud pa...More

May 21, 2018

Headline News from PaymentsNews.com

Worldpay Shoots to Top U.S. Merchant Acquiring Spot as Integrated Software Model Takes Over

“Released Monday, the directory ranks industry participants by their estimated total processing volume in 2017. Vantiv, number 4 last year, and Worldpay, number 11, merged in January, adopting the Worldpay name for the company. The merger moved the company to the top spot, with an estimated $1.12 trillion in U.S. processing volume. The new Worldpay serves an estimated 1.2 million merchants across the globe, according to the 2017 documents related to the merger.”

On The Web

Companies, Tech

Walmart Looks to Blockchain for Retail Product Resales

"The document, released last Thursday by the U.S. Patent and Trademark Office, outlines a blockchain ledger which would track the items that stores sell to a particular customer. It's the latest example of an intellectual property play by Walmart, which has filed a number of related applications and...More

Domains, Uncategorized

Banks are turning branches into coworking spaces

"As megabanks like JPMorgan Chase and Bank of America work on improving business banking by enabling things like digital onboarding and Zelle for business customers, small banks are working on branch innovation, mostly by turning them into coworking spaces. Earlier this year, JPMorgan Chase said des...More

Fifth Third to buy MB Financial for $4.7 billion

"Fifth Third Bancorp will buy Chicago-based MB Financial Bank for $4.7 billion, the banks announced Monday. The merger will create the fourth-largest Chicago bank in total deposits with a 6.5 percent market share and give the combined company 20 percent of the city’s “middle-market” commercial banki...More

Risk & Fraud

U.S. and Canadian regulators open probes into cryptocurrency scams

"The North American Securities Administrators Association announced the wide-ranging series of probes on Monday, dubbed “Operation Crypto-Sweep.” The investigations, some of which have already concluded, are aimed at unregistered securities offerings and initial coin offerings that promise significa...More

Standards

EMVCo releases QR Payment Mark

"EMVCo has developed a QR Payment Mark that can be used by merchants to indicate that they accept mobile payments which conform to the standards body’s QR Code payment specifications. The goal is to “help promote worldwide acceptance and interoperability,” EMVCo says. The move follows the organizati...More

In Faddish China, Even Glorified Vending Machines Raise Billions

Tags:
Mobile self-checkout

"Names from Alibaba Group Holding Ltd. and Tencent Holdings Ltd. to Walmart Inc. and Sequoia have poured more than $1.7 billion into startups such as Mr. Fresh and Xingbianli (Gorilla Convenience) that for now offer little more than tricked-out vending machines or kiosks...It’s a high-tech twist on ...More