Headline News from PaymentsNews.com – May 18, 2017

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  • Square Will Replace Meters in Washington Taxis
    – Bloomberg – “Washington, D.C., is enlisting Square Inc.’s help as its taxi commission tries to help the city’s cabbies compete with Uber drivers. By the end of August, all of the taxis in Washington have to tear out their traditional meters and start using smartphones or tablets, in what the city government has been describing as a complete reimagining of how the cab system works. On Wednesday, the Department of For-Hire Vehicles is announcing that Square will process the payments going through those mobile devices.”
  • Square Lays out Its Strategy for Growth at an Upbeat Investor Day Presentation
    – Digital Transactions News – “In its presentation, Square said it wants to improve the efficiency of acquiring merchants, which it calls sellers; move its services up market to larger merchants; grow and retain its existing customer portfolio; and make more international expansions. In March, Square launched in the United Kingdom, having already debuted in Canada, Japan, and Australia.”
  • Paytm Raises $1.4 Billion From SoftBank to Expand User Base
    – Bloomberg – “Paytm, India’s largest digital payments startup, raised $1.4 billion from SoftBank Group Corp. in the largest funding round from a single investor for the country’s technology sector.”
  • Google I/O: New Ways to Put Customers at the Center of Your Apps and Payments
    – Inside AdWords – “The Google Payment API enables merchants and developers to turbocharge checkout conversion by offering your users an easy way to pay with credit and debit cards saved to their Google Account. Users will have multiple Google payment options at their fingertips, like a credit or a debit card previously saved via Android Pay, a payment card used to transact on the Play Store or a form of payment stored via Chrome. And they’ll be able to use these saved payment options in third-party apps and mobile sites, as well as on Google Assistant when they are on-the-go.”
  • Big data, Chinese surveillance, and Donald Trump could keep China’s biggest payments company from entering the US
    – Quartz – “The Trump administration has two options as it faces this deal. It can oppose it on grounds that a reverse acquisition would likely never receive approval in China, citing the “reciprocity” slogan. As senator Roberts said, Ant Financial’s acquisition of MoneyGram “should trigger no less concern than if a Chinese company were seeking to take control of a large, well-known bank,” and added “there is virtually no chance that a US financial services company would be permitted to acquire a Chinese [rival].””


  • North American Bancard Holdings and Total Merchant Services Announce Agreement for the Acquisition of Total Merchant Services
    – ” North American Bancard Holdings, LLC (NAB), a multi-faceted and award-winning payment solutions provider, and Total Merchant Services, Inc. (TMS) announced today their agreement pursuant to which NAB will acquire TMS. The combined entity will be the 7th largest processor in terms of merchant locations in North America, processing nearly $50B annually.”
  • Youtap Introduces X8 Solution for Mobile Money Merchant Payments
    – “Youtap has introduced an inexpensive retail enablement solution to help mobile network operators, banks and payment providers boost transaction revenue. Youtap’s solution enables Tier 2 and Tier 3 merchants to accept NFC and QR code-based mobile money payments at the curb side. The solution relies on Youtap’s NFC X8, a small, discreet point-of-sale device that can fit easily in a merchant’s pocket or be worn around the neck. The X8 can process all mobile money transactions, including cash-in and cash-out transactions, airtime top-ups, bill payments and in-store payments.”


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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 – May 18, 2017
Payments News – from Glenbrook Partners
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