Headline News from PaymentsNews.com – March 31, 2017

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  • ACCC knocks back the banks on Apple Pay
    – Financial Review – “The competition regulator has rejected an application by the banks to collectively negotiate with technology giant Apple over access to the iPhone’s “near field communication” (NFC) controller.”
  • UK regulator calls for banks to tighten cancellation processes for stolen contactless cards
    – NFC World – “The UK’s Financial Conduct Authority (FCA) has set out a series of measures it plans to undertake in order to tighten the processes banks undergo when a customer reports a stolen contactless card, which currently allow — in a “limited set of circumstances” — for a stolen contactless card to be misused by fraudsters “several months after it has been cancelled”.”
  • Russian e-commerce market hits new highs to reach €16 billion
    – Payments Cards & Mobile – “The Russian e-commerce was worth €14.85 billion in 2016, an increase of 20% when compared to 2015, and is expected to rise rapidly to reach €16.14 billion at the end of 2017.”
  • Facebook introduces personal fundraising tools, donate buttons in Facebook Live for Pages
    – TechCrunch – “Facebook today announced it’s expanding its set of online fundraising tools to include its own GoFundMe competitor, with the added support for personal online fundraisers, starting first in the U.S. The new tool will allow Facebook users to raise money for personal crises and other campaigns — like school or medical expenses, emergency situations, funerals and more. In addition, the company is adding the ability for Facebook Pages to add a “donate” button to their live broadcasts on the network.”
  • PCI Looking to Grow the Payments Security Ecosystem with New Certifications
    – Payments Afrika – “There is a growing complexity in the payments security landscape. As the ecosystem evolves and more devices become connected, so too do the associated risks. Speaking before the PCI Middle East and Africa Forum held in Cape Town this week, Mauro Lance, Chief Operating Officer at the PCI Security Standards Council acknowledged that the profile of South Africa is growing in the payments space, and this makes it a more attractive target for potential fraud and security breaches.”
  • Face recognition tech still insufficient for security
    – Korea Herald – “The facial recognition technology equipped in Samsung Electronics Co.’s new flagship smartphone, the Galaxy S8, will not be sufficient to guarantee the phones’ security, industry sources said Friday. “The phones can be unlocked by the face of a sleeping person, or even just by a photo,” an industry watcher said. “For now, the facial recognition technology is only intended for fun. It should not be considered as a foolproof security measure.”"
  • Economic growth in the US: A tale of two countries
    – Vox EU – “The rise of economic inequality is one of today’s most hotly debated issues. But a disconnect between the different data sets used to measure and understand inequality makes it hard to address important economic and policy questions. In this column, the authors highlight the findings from their attempt to create inequality statistics for the US that overcome the limitations of existing data by creating distributional national accounts.”



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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: gotnews@paymentsnews.com!

Headline News from PaymentsNews.com – March 31, 2017
Payments News – from Glenbrook Partners
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