Payments News

On The Web

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Security

In China, QR Codes Are Being Replaced by Face Scans for Payments

“In different cities around China, merchants from supermarkets to bakeries have adopted facial recognition payments technology from Alibaba-affiliated Ant Financial and Tencent’s WeChat Pay to make the payments process as frictionless as possible. Alibaba owns the South China Morning Post.    Why? Because face recognition technology brings the next step in payments convenience for consumers and also […]
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Companies

Amazon Plans 3 New Go Stores In 2 Cities

“Amazon Go will be expanding its presence in Chicago and Seattle with three new stores, although no opening dates for the locations have been announced. The retailer’s newest Seattle location will be in a high-rise apartment complex in the Capitol Hill neighborhood, while the two Chicago locations will be in downtown office buildings. The stores […]
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Global

Ghanaian Universal QR Code Set to Accelerate E-payments

“Ghana has become the latest country to commit to rolling out a universal QR code, as the country’s government seeks to accelerate the take-up of e-payments. The move was announced by the West African country’s vice-president, Mahamudu Bawumia, earlier this month at an event in capital, Accra.”
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Tech

Visa to Test Advanced AI to Prevent Fraud

“Visa Inc. is rolling out a platform to help its engineers quickly test advanced artificial-intelligence algorithms aimed at detecting and preventing credit-card fraud. The platform, built in house and slated to be launched later this year, is an example of the broader financial-services industry trend of using AI to detect patterns in transactions that could signal […]
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Tech

Mastercard Is Building a Team to Develop Crypto, Wallet Projects

“Payments giant Mastercard is seeking to hire a number of blockchain professionals, including several senior roles, in an apparent effort to develop cryptocurrency and wallet products. According to the company’s career website , Mastercard is looking for a senior blockchain engineer and engineering lead , director for product development and innovation , vice president for […]
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Tech

Mastercard to Tackle Fashion Fakes With Blockchain Tracking Solution

“Mastercard is to demo a new blockchain-based product tracking solution during an upcoming showcase of women fashion designers. The payments giant announced on Friday that it will support “limited-edition collaborations” highlighting female designers and artists in partnership with Fred Segal Sunset and MADE.”

On The Wires

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Global

OneConnect Partners With UnionBank’s Fintech Subsidiary UBX to Co-create Philippines’ First Blockchain-enabled Platform for MSMEs

“OneConnect Financial Technology Co. Ltd. (OneConnect), an associate company of China’s insurance giant and Fortune Top 29 Company Ping An Group, has partnered with UBX Philippines Corporation, the wholly-owned fintech subsidiary of Union Bank of the Philippines (UnionBank), to build the country’s first blockchain-enabled platform to meet the banking needs of micro, small and medium enterprises (MSMEs). The partnership underpins both […]
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Tech

Commerzbank tests blockchain-based machine-to-machine payment solution for the first time

“Working together with its research and development unit main incubator, Commerzbank is the first German bank to develop a blockchain-based payment solution for machine-to-machine (M2M) payments. A fully automated payment process between an electric charging point and a Daimler truck system has taken place. For this transaction, Commerzbank issued Euros on a blockchain and provided […]
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Tech

Bottomline Announces Open Banking API Suite

“Bottomline Technologies (NASDAQ: EPAY), a leading provider of financial technology solutions that help make business payments simple, smart and secure, today announced the launch of its Digital Banking IQ Intelligent Engagement suite, which empowers banks to engage intelligently with customers, deliver a unified digital experience, and acquire, deepen and grow profitable relationships.”
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