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ON THE WEB
- UBS and other big banks are preparing to show governments how to put cash on a blockchain
– Quartz – “The hope is that the UBS group will come up with something faster, cheaper, and more reliable than existing systems. Each settlement coin would represent fiat currency like euros and dollars on a one-to-one basis, and would thus be 100% backed by collateral at the domestic central bank, according to UBS. The idea is that exchanging the digital currency as payment for assets will be a more efficient means of exchange.”
- How Mastercard Is Bringing Digital Innovation To Refugees Around The Globe
– Forbes – “Today, refugees are experiencing longer stays in refugee camps, representing a growing need for solutions – especially in the age of digital technology. But for global financial payments company, Mastercard, it’s been the intersection of global need and digital technology that has paved the way for innovation in social impact.”
- Mastercard lets Polish merchants accept payments with just their smartphones
– NFC World – “Two hundred small businesses are to participate in a pilot that lets them accept contactless payments using just a mobile app on their NFC smartphones. “No separate payment terminals nor other peripheral equipment will be needed,” Mastercard says.”
- Google Aims To Leverage Its Millions of Credit Card Credentials for Mobile Commerce
– Digital Transactions News – “The service is called Pay With Google, and it could tap data on the “hundreds of millions” of customers Google has on file, including payment card account numbers and related customer information, according to Jack Connors, head of commerce partnerships at Google, the main subsidiary of Mountain View, Calif.-based Alphabet Inc.”
- Creative Destruction in Singapore
– Bloomberg – “Are the Singapore banks being invited to dance at their own funeral? The Chinese today do $5.5 trillion of mobile payments annually, with bridesmaids wearing codes to collect wedding gifts, according to this report in the South China Morning Post. That world-leading digital payment revolution, however, is driven by Tencent Holdings Ltd., Baidu Inc. and Alibaba Group Holding Ltd., and not by any bank.”
- Garmin debuts three new wearables and a mobile payment solution
– TechCrunch – “The standout feature, however, is the new Garmin Pay support, which allows for contactless payments via Visa and MasterCard cards from a range of major U.S. banks. Garmin Pay is powered by FitPay, which is a platform designed specifically to help bring mobile payments to mobile and IoT devices, without requiring direct, separate negotiations with the banks and issuers.”
ON THE WIRES
- Verizon 2017 Payment Security Report demonstrates a link between payment card security standard compliance and the ability to defend against cyberattacks
– “With cybercrime on the increase, payment card security is increasingly a focus for companies and consumers alike. The Payment Card Industry Data Security Standard (PCI DSS) is there to help businesses that take card payments protect their payment systems from breaches and theft of cardholder data. The findings from the Verizon 2017 Payment Security Report (2017 PSR) demonstrate a link between organizations being compliant with the standard, and their ability to defend themselves against cyberattacks.”
- BitPesa Secures Greycroft as Lead Investor in Follow-Up to Series A; Reaches $10 Million in Total Funding
– “BitPesa’s 25% month-on-month growth for nearly two years demonstrates that its initial model of using bitcoin blockchain to lower the cost and increase the speed for payment processing to and from emerging markets works for businesses.”
- FICO Reports a 39 Percent Rise in Debit Cards Compromised at U.S. ATMs and Merchants
– “The number of cards compromised at U.S. ATMs and merchants rose 39 percent in the first six months of 2017, compared to the same period in 2016, according to new data from Silicon Valley analytic software firm FICO. FICO has also tracked a 21 percent increase in compromises of ATMs and point-of-sale (POS) devices in the US in the first six months of 2017, compared to the same period in 2016.”
- Mastercard Enables Garmin Users To Run and Shop At A Perfect Pace
– “Today Mastercard announced that it is adding payment capabilities to the newly launched Garmin® vívoactive® 3 to provide active customers a watch that frees them from having to carry their phone or wallet around. Mastercard will be enabling fitness enthusiasts to make contactless payments and pay by simply tapping their device at a contactless terminal at nearly 6.6 million merchant locations globally.”
- Visa Brings Simple, Secure Payments to Garmin® vívoactive® 3 Smartwatch
– “Visa (NYSE:V) today announced it is enabling payments on the new Garmin vívoactive 3 smartwatch, allowing consumers with active lifestyles to pay with the flick of their wrist instead of stashing their cards or cash in their socks while exercising. A recent review of consumers’ workout woes, the “Visa Sweaty Money Survey,” found that for those who do decide to bring forms of payments along with them on workouts, 57 percent admitted to placing it in an unconventional place, like a sock or even their undergarments.”
GLENBROOK PAYMENTS EDUCATION EVENTS
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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: firstname.lastname@example.org!
Headline News from PaymentsNews.com – August 31, 2017
Payments News – from Glenbrook Partners
Payments News ISSN 1556-4487. Compilation Copyright © Glenbrook Partners LLC, 2002-2013. All Rights Reserved.