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Uncategorized

Visa, Mastercard Draw FTC Inquiry Over Debit Card Transactions

November 14 2019

“Visa Inc. and Mastercard Inc. are once again in the crosshairs of U.S. antitrust regulators over policies that can prohibit merchants from routing card transactions over alternative debit networks. The Federal Trade Commission has been reaching out to large merchants and their trade groups over the issue as part of a preliminary inquiry, according to people […]

On The Web

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Companies

Facebook Pay Launches on Facebook and Messenger, Instagram and WhatsApp to Follow

November 13 2019

• in
• Facebook

“Facebook has unveiled a unified payments service designed to provide “a convenient, secure and consistent payment experience across Facebook, Messenger, Instagram and WhatsApp”. “People already use payments across our apps to shop, donate to causes and send money to each other,” the company says. “Facebook Pay will make these transactions easier while continuing to ensure […]

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Providers

Next in Google’s Quest for Consumer Dominance—Banking

November 13 2019

• in
• Tech

“The project, code-named Cache, is expected to launch next year with accounts run by Citigroup Inc. C -0.87% and a credit union at Stanford University, a tiny lender in Google’s backyard. Big tech companies see financial services as a way to get closer to users and glean valuable data. Apple Inc. introduced a credit card this summer. […]

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Use

WordPress.com Sites Can Now Accept Subscriptions With New ‘Recurring Payments’ Feature

November 13 2019

• in
• Subscription management

“The subscription model is today sustaining a number of businesses, including artists, creators , news publishers, game developers , entertainment providers and more. Now, top publishing platform WordPress.com is making it easier for any creator or web publisher to add a subscription feature to their own website, so they can begin to generate repeat contributions […]

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Use

Amazon Go, the Cashierless Retail Store of the Future, Has Some New Competition

November 12 2019

• in
• Cashless

“According to Grabango chief business officer Andrew Radlow, computer vision is a key distinction that separates Grabango from Amazon Go. Go stores use scales, shelf cameras and sensor technology to track items when they are taken off the shelf. Grabango’s computer vision technology uses small cameras that track when each product in the store is […]

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Use

Toast Launches Toast Capital To Help Restaurants Secure Loans

November 13 2019

• in
• Lending

“Toast has launched Toast Capital so its customers can secure loans, with restaurant-specific quirks in mind, like “seasonality and restaurant profit margins,” according to Tim Barash , chief financial officer at Toast. Toast will offer loans between $5,000 to $250,000 to restaurants that already work within the Toast network.”

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Deals

PalmPay Launches in Nigeria on $40M Round Led by China’s Transsion

November 14 2019

“Africa-focused payment startup PalmPay has launched in Nigeria after raising a $40 million seed round led by Chinese mobile-phone maker Transsion . The investment came via Transsion’s Tecno subsidiary, with participation from China’s NetEase and wireless comms hardware firm Mediatek — a Transsion spokesperson confirmed to TechCrunch. PalmPay had piloted its mobile fintech offering in Nigeria […]

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Security

Colorado Driver’s Licenses Go Digital

November 14 2019

• in
• Identity

“Colorado residents who download a special app can use their phones as a form of ID in places like bars, restaurants and banks, but it is up to the establishments to decide whether they accept the new format. Rolled out late last month, the technology that digitizes driver’s licenses or state IDs is part of […]

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Deals

Nigeria’s Interswitch Confirms $1B Valuation After Visa Investment

November 13 2019

“Nigerian digital payments firm Interswitch confirmed today it has reached unicorn status after Visa acquired a minority equity stake in the firm. “The investment makes Interswitch one of the most valuable African fintech businesses with a valuation of $1 billion,” Interswitch said in a release to TechCrunch. The Visa investment could create the first of […]

On The Wires

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Uncategorized

Adyen Launches Card Issuing Offering

November 13 2019

“Adyen (AMS: ADYEN), the global payments platform of choice for many of the world’s leading companies, today announced the addition of card issuing to its offering. Adyen Issuing will enable clients to provide virtual and/or physical cards to their customers. Cards issued by Adyen can be used online, in-app, in-store, and can be integrated into […]