Payments News
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Systems

Cash May Not Be King, but It’s Still Royalty

“Yet digital’s gain isn’t necessarily coming at the expense of cash. The overall pie still appears to be growing. Only two countries, Russia and Sweden, had a net substitution of cards for cash from 2007 to 2016, with cash in circulation shrinking as card payments grew, according to the Bank for International Settlements. In other […]

On The Web

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Systems

Why Facebook Still Wants to Invade the Payments Space

“Facebook has a longstanding interest in payments, and has already made a considerable amount of money from its payments activities. Consider that the social network produced $269 million from “payments and other fees” in the third quarter of 2019, a respectable haul. However, Facebook’s payments revenue has remained relatively flat for the last several years. […]
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Companies

Libra Association Forms Steering Committee to Guide Technical Development

“The Libra Association — the government body of the eponymous stablecoin introduced by Facebook in late 2019 — has formed a new committee to guide the network’s technical development. According to an announcement on Jan. 16, the Libra Association has voted to establish the five-member Technical Steering Committee which comprises leading experts from various firms in the fintech […]
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Systems

Can Cryptocurrency Become the UN Money of the Future?

“As it does in other settings, cryptocurrency presents opportunities and challenges for UNICEF and, more broadly, the whole UN system. Cryptocurrencies are volatile and vulnerable to scams and money laundering. But they are also highly traceable and, when it comes to the UN, could some day provide the international organization greater independence from the countries […]
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Companies

Shopify Joins Libra, Defying a Wave of Defections From the Crypocurrency Venture

“The controversial Libra cryptocurrency project gained a new member Friday with Shopify Inc.’s announcement it will join the Libra Association , the governing body for the fledgling venture. Shopify’s decision comes in the face of a string of eight high-profile defections from the association since October, including decisions by Mastercard Inc., PayPal Holdings Inc., Stripe […]

On The Wires

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Systems

BitPay and Poynt Take Bitcoin to the Streets

“BitPay , the world’s largest provider of blockchain payment services, together with Poynt , the world’s first open commerce platform, today announced the integration of BitPay’s Bitcoin and cryptocurrency payments with Poynt’s Smart Terminal point-of-sale devices at more than 100,000 Poynt retailers worldwide.”