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Welcome to the new PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web:
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Not a happy holiday for Apple Pay: While the Thanksgiving weekend kickoff to the holiday shopping season was a record-setter for mobile commerce, the rising tide is not lifting all boats. Third party mobile wallets such as Apple Pay, Samsung Pay and Android Pay are still struggling to gain traction, reports Fortune. Almost 90% of in-store payments came from credit cards on Black Friday, but mobile phone payment apps accounted for just 0.6%, the magazine reported, citing figures from payment processor Cayan. While that's double the number from 2015, it's akin to a "rounding error," Fortune reports. And even in the most successful state, tech-savvy California, the third-party apps accounted for just 1% of total in-store payments.
A sign for the launch of the Apple pay system, from Apple.Inc is seen displayed at the entrance to a McDonald's Corp. restaurant in London, U.K., on Tuesday, July 14, 2015. Apple Inc. is making the U.K. the first market outside the U.S. for its digital-wallet system as the company fights for a place in the electronic-payments industry. Photographer: Chris Ratcliffe/Bloomberg
Chris Ratcliffe/Bloomberg
U.K. cash draws protesters: Unlike India's cash crisis, in the U.K. people are alarmed by new cash being introduced rather than removed. The Bank of England's new plastic 5 pound note contains tallow, or a form of beef or mutton fat. A petition has been launched to protest the new money, saying it's unacceptable to millions of vegans, vegetarians, Hindus, Sikhs, Jains and others in the U.K. By Monday, about 15,000 people had signed the petition, according to Finextra.
Pay Bitcoin...or pay: Hackers are warning victims to pay a ransom in Bitcoin, or else their personal account information will be released. According to Cointelegraph, the crooks who hit Valartis Bank Liechtenstein are threatening to release personal details of bank customers unless the victims pay 10% of their account balances in Bitcoin. The victims apparently include a number of public figures in Liechtenstein, such as actors and politicians.
Indian cash's global effect: The Indian cash crunch has hit the U.S., at least indirectly. U.S.-based ATM operator Euronet Worldwide reports its earnings will suffer because of the situation in India, according to a release from Nasdaq. The ATM vendor reports the cash shortage in India will hurt revenue from its 12,000 ATMs in India, and its remittance payout business in India will also suffer. The company reports business should stabilize in 2017, but it has revised future earnings guidance down to $0.98 to $1 per share from $1.07 per share before the India crisis.
The Future of the Global Mobile Payment Industry Business 2 Community • Stacey Rudolph It is anticipated that nearly 80% of total internet usage will be done via mobile devices. Consequently, it is also expected that mobile payment is the future commerce. Instead of cards and cash, many internet users are now using their smartphones to..
Israel's Feelter eyes U.S. for its social e-commerce tech Consumers aren't just sharing the charming personal moments of their lives on social media — they're producing data that Israeli startup Feelter contends can revolutionize online shopping.
John Adams is executive editor of payments for American Banker. John interviews top executives in the payments, cryptocurrency and fintech... Read full bio
The Federal Communications Commission proposed a $4.5 million fine against Voxbeam Telecommunications, which it accused of facilitating fraud scams. Many of the calls spoofed phone numbers belonging to American banks.
After French authorities stopped a bomb plot against a Bank of America office in Paris, security experts warned banks to step up their preparations for terror attacks.
