Payments News

On The Web

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Can Vietnam Turn 90% of Its Transactions Into Cashless Payments? – KrASIA

“In Hanoi and Ho Chi Minh City, the colorful stickers and placards of popular e-wallets like Moca and Momo are appearing on storefronts—a sign that Vietnamese urbanites are embracing cashless payment methods. But that’s just two cities. Overall, nearly 90% of the country’s transactions still use cash. The Vietnamese government has been open about its intentions […]
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Cumberland Farms New Loyalty And Payment App Offers Two Payment Options

“Cumberland Farms , a leading coffee, convenience and gasoline retailer, today announced the launch of its new Cumberland Farms App, which is the next evolution of its highly successful SmartPay Check-Link® program. The new app gives users two payment options: SmartPay Check-Link®, which links to a checking account or Netspend® account and saves users 10 […]
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Chip Cards Make Gains, but the U.S. Still Lags Most of the World in EMV Adoption

“EMV chip card payments made substantial gains in the U.S. last year, but the nation still lags most other regions in EMV penetration, according to new figures from payment card standards body EMVCo. Some 53.5% of general-purpose U.S. card-present transactions in 2018 were so-called chip-on-chip, meaning both the point-of-sale terminal and the card were EMV-enabled, […]
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Facebook’s New Cryptocurrency, Libra, Gets Big Backers

“Facebook Inc. has signed up more than a dozen companies including Visa Inc., Mastercard Inc., MA +0.19% PayPal Holdings Inc. PYPL +0.68% and Uber Technologies Inc. UBER -0.52% to back a new cryptocurrency it plans to unveil next week and launch next year. The financial and e-commerce companies, venture capitalists and telecommunications firms will invest around $10 million […]
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HSBC Launches Next Generation Virtual Accounts for Corporate and Institutional Clients

“As an innovative multi-currency solution, available in more than 20 currencies, Next Generation Virtual Accounts build on the reconciliation benefits of traditional virtual accounts by enabling treasurers to centralise payments and receivables across multiple and single entity structures. Clients can consolidate hundreds of bank accounts into a handful, or as few as one account for […]
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Fintech Startup Finix Raises $18 Million, Aims To Become The Twilio Of Payments

“Finix , a three-year-old, 30-person startup based in San Francisco, raised $17.5 million in Series A funding from Bain Capital Ventures, Visa and Insight Venture Partners, among other investors. It aims to help companies manage and monetize payments by becoming their own payment processors. In the same way Twilio’s white-label software lets Uber users seamlessly […]
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Klarna Raises $460m to Support US Growth

“Klarna has raised $460 million in an equity investment round, at a valuation of $5.5 billion, to help fund its push into the US market.The round was led by Dragoneer Investment Group, alongside Commonwealth Bank of Australia, HMI Capital, Merian Chrysalis Investment Company, Första AP-Fonden (AP1), IPGL, IVP and funds managed by BlackRock. This investment follows […]
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Banks Confront Fed on Faster Financial Payments

“The battle is dividing financial firms and policy makers at a time when payments are becoming a potential flashpoint between banking and big tech. Facebook Inc. has announced plans to launch a cryptocurrency-based payments system on the back of its social network, while Chinese giants Alibaba Group Holding Ltd. and Tencent Holdings Ltd. have developed digital payments systems […]
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Decrement Carbon: Stripe’s Negative Emissions Commitment

“As part of Stripe’s environmental program , we fully offset our greenhouse gas emissions by purchasing verified carbon offsets. Starting this year, we’re going a step further. In addition to our offset program, we are committing to pay, at any available price, for the direct removal of carbon dioxide from the atmosphere and its sequestration […]

On The Wires

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Wirecard Offers Fully Digital Payout Solution in North American Consumers With Mobile App Launch

“With the new Wirecard app, cardholders can seamlessly track related balances and payment activities on their mobile device, benefiting from digital personal finance mangement. The mobile app is part of Wirecard’s drive to advance the digital transformation of payments and build a more integrative financial experience globally. In designing the app, Wirecard included the flexibility […]