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Alipay gets another ticket to America: Mobile payment and marketing platform is collaborating with Alipay, Ant Financial's popular payments service, to allow North American merchants to accept Alipay for travelers. Citcon will provide its mobile point of sale technology, API and software for bot online and offline payments, marketing and analytics. China's Alipay has been lining up partners to expand to North America. It recently collaborated with First Data and Verifone to extend acceptance at payment terminals, and is also expanding availability at U.S. airports through a partnership with travel retail company DFS Group.
The Alibaba Group Holding Ltd. Alipay.com Co. website, displayed on a Samsung Electronics Co. tablet, is seen in an arranged photograph in Hong Kong, China, on Friday, Oct. 11, 2013. Alibaba, Chinas largest e-commerce company, will go public in 2014 after talks with Hong Kongs exchange on a proposed corporate governance structure fell apart, said people with knowledge of the matter. Photographer: Brent Lewin/Bloomberg
Brent Lewin/Bloomberg
Disaster giving: Mobile technology has proven useful in powering fundraisingtransactions, and Hyperwallet hopes to take the model a step further by hosting a hackathon to spot ways to speed payments processing for charitable giving, particularly after a disaster. Visa is "supporting" the hackathon, which will take place on Tuesday, March 14, 2017 in Austin, according to a release form Hyperwallet. Developers will use Hyperwallet's sandbox and API integrations and the Visa Direct network, and will have eight hours to complete solutions. Executives from Visa, Hyperwallet and HomeAway Software will judge the competition, which will offer cash prizes.
Prep for Chatbots: Payment companies are rapidly embracing chatbots, and there's signs that's a good idea as the next generation is using chatbots extensively. Nearly two thirds of U.S. consumers aged 18 to 34 have used a chatbot for shopping, according to merchant technology company Retale, which also found that nearly three quarters of the same demographic is interested in using branded chatbots. Also, 71% of the 500 millennials Retale polled said they are interested in using chatbots from consumer brands, while only 18% said they are not. The biggest problem young people have with chatbots is accuracy. Retale reports 55% of respondents said they are frustrated with chatbots' inability to "understand" what the user is looking for.
Brexit plaza: The fallout from last year's Brexit vote on the financial services and technology industries is getting more tangible, or perhaps speculative, depending on the perspective. Amid reports that fintech companies, payment startupsand financial institutions are leaving the U.K., Paris is creating space. Finextra reports Parisian developers plan to build more than a half dozen new skyscrapers over the next half decade in anticipation of picking up business in these industries from London. The buildings, which will total about one million square feet, will include flexible working spaces designed for technology development and other space suitable for financial services companies. The development will be focused near La Defense, the city's business district.
Going digital in Germany, where cash is king How much do Germans like cash? Consider the following common German phrase: "Geld stinkt nicht," which roughly translated means, "money doesn’t stink."
Ant Financial buys stakes in Kakao Pay and Mynt China’s Ant Financial, an affiliate of Alibaba, is continuing its acquisition spree by purchasing stakes two digital payments firms, including South Korea’s Kakao Pay and the Philippines’ Mynt.
Scattered Spider, a cybercrime gang whose targets include banks, has seen five of its members arrested for SIM-swapping and phishing schemes that stole millions.
A federal appeals court granted the government's request to pause a ruling that briefly restored Democratic National Credit Union Administration board members Todd Harper and Tanya Otsuka, leaving the regulator with a single board member pending appeal.
Erik Porter will succeed Lisa Oliver as president and CEO of the Cooperative Bank of Cape Cod; Gary Hall and Sobani Warner are named co-presidents of Siebert Williams Shank; Faiz Ahmad and Mike Joo will lead Bank of America's global investment banking unit; and more in this week's banking news roundup.
Bank of Glen Burnie, which is seeking to recover from a stretch when its assets declined, hopes that its deal for a residential lender can help boost loan production.
Small practices are still mired in paper. Fiserv has joined banks such as JPMorganChase and Citizens in applying new third party transaction technology to the tricky sector.
