Payments News

On The Web

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Companies

Security Update

“On the afternoon of Tuesday, September 25, our engineering team discovered a security issue affecting almost 50 million accounts. We’re taking this incredibly seriously and wanted to let everyone know what’s happened and the immediate action we’ve taken to protect people’s security.”
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Companies

Facebook and Financial Firms Tussled for Years Over Access to User Data

“As recently as last year, the social-media company pressed financial firms for the ability to use customer data flowing through its Messenger platform for a range of purposes, including advertising, according to people familiar with the matter and documents reviewed by The Wall Street Journal. Concerned about privacy, several firms negotiated bespoke agreements that limited […]
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Companies

Facebook taps banks, but for chatbots not purchase data like Google

“Facebook spokesperson Elisabeth Diana tells TechCrunch it’s not asking for credit card transaction data from banks and it’s not interested in building a dedicated banking feature where you could interact with your accounts. It also says its work with banks isn’t to gather data to power ad targeting, or even personalize content such as which […]
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Companies

Facebook Login Update

“Any developer using our official Facebook SDKs — and all those that have regularly checked the validity of their users’ access tokens – were automatically protected when we reset people’s access tokens. However, out of an abundance of caution, as some developers may not use our SDKs — or regularly check whether Facebook access tokens […]
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Companies

Data Factories

“Facebook and Google — the two Super Aggregators — make money through ads, and advertisers come to Facebook and Google because they want to reach consumers. From an advertiser perspective users — or to be more precise, access to users’ attention — is a product they are absolutely paying for.”
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Companies

Facebook’s Blockchain Team Said to Be Assembling Its Own Mini-PayPal Mafia

“The inner workings of Facebook’s blockchain team are still shrouded in secrecy, but it’s staffing up, according to people familiar with the group. Those people said that its product, which Bloomberg earlier reported will be a type of cryptocurrency, could be announced as soon as next quarter. Launched last May, Facebook’s blockchain unit now counts […]
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Companies

Facebook in Talks With Banks About Mobile Payments in Africa

“Facebook is in talks with financial institutions about possible mobile-payment collaborations in Africa, says Carolyn Everson, a vice-president at the social networking group. In 2018, Absa partnered with Facebook’s popular WhatsApp messaging platform to launch the world’s first chat-banking service. The platform lets customers make peer-to-peer payments or pay utility bills, among other features. “It’s […]
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Companies

Instagram’s fundraiser stickers could lure credit card numbers

“Mark Zuckerberg recently revealed that commerce is a huge part of the 2019 road map for Facebook’s family of apps. But before people can easily buy things from Instagram  etc., Facebook needs their credit card info on file. That’s a potentially lucrative side effect of Instagram’s plan to launch a Fundraiser sticker in 2019. Facebook’s own Donate […]
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Companies

Facebook Forms Swiss Fintech Firm With Payments Focus

“Facebook has set up a new financial technology company in Switzerland focusing on blockchain and payments as well as data analytics and investing, Geneva’s commercial register shows.  Libra Networks, with Facebook Global Holdings as stakeholder, was registered in Geneva on May 2 to provide financial and technology services and develop related hardware and software, plans […]