“Despite some concerns over its adoption by scammers, new payment service Zelle is shaping up to overtake rival Venmo this year, according to a new forecast from eMarketer. The firm expects Zelle  to grow more than 73 percent in 2018, to reach 27.4 million users in the U.S., ahead of Venmo’s 22.9 million. Square Cash will trail with 9.5 million users. This growth isn’t necessarily chalked up to user preference, but rather, ubiquity.”

“Microsoft is reportedly working on technology that could be used to power check-out free retail stores. Reuters reports that the software giant has been talking to Walmart about using the tech, which will rival Amazon’s own Go initiative. Amazon first launched its cashier-free convenience store in the company’s hometown in Seattle last year. Shoppers can simply grab items and leave, as the store is fitted with multiple camera and sensors that use computer vision algorithms to detect what items you’re taking out of the store and charged to your account.”

“The share price closed at €462.50 — over 92 percent up on its price last night —  giving it a market cap of over €13.6 billion, or $16 billion at current exchange rates. It’s gone as high as €503.90 today. The number moved between about €15 billion and €16 billion throughout the day. This all represents a big jump on Adyen’s valuation. In a statement last night announcing its initial offer price of €240 per share, Adyen said the figure implied a market capitalization of €7.1 billion, based on the current number of Shares outstanding.”

“Parliament’s Riksbank committee, which is in the process of reviewing the central bank law, proposed making it mandatory for banks to offer cash withdrawals and handle daily receipts. The requirement would apply to banks that provide checking accounts and have more than 70 billion kronor ($8 billion) in deposits from the Swedish public, according to a report. The lawmakers said there needs to be “reasonable access to those services in all of Sweden,” and that 99 percent of Swedes should have a maximum distance of 25 kilometers (16 miles) to the nearest cash withdrawal. The requirement doesn’t state how banks should offer those services, and lenders can choose whether to use a third party, machines or over-the-counter services.”

“This concentration of power is making India’s banking regulator increasingly uncomfortable, especially as the country’s retail payments ecosystem expands rapidly. Not only does the situation put a large number of users at risk if even one company goes under, a select few firms also end up with the personal data, like spending and preferences, of a large number of people. That’s business intelligence worth its weight in gold. So, the RBI now plans to step in, and will release a consultation paper by Sept. 30 on how to widen the market. “The RBI plans to encourage more players to participate in and promote pan-India payment platforms so as to give a fillip to innovation and competition in the sector,” the central bank said on June 06.”