The information you need to start your day, from PaymentsSource and around the Web:
Outsmart a Thief
Security is one of the more promising uses of
The bank reports it has saved about $9 million through an AI and machine learning engine that detects when businesses are sending money into another account rather than the intended supplier, reports
It does this by spotting and adding capabilities to recognize and respond to "redirections," or a type of fraud that is particularly damaging to small businesses, with a quarter of firms falling prey, according to research from Vocalink, which provided the technology that supports the bank's AI security program.
Apple Pay's South American debut
Apple Pay is scheduled to go live today in Brazil, reports
Apple has floated its launch in Brazil for several months, and is promoting the release with
Playing Dominos
Domino's has released a mobile game, called "Piece of the Pie Pursuit," a mobile game that ties marketing and loyalty to gaming.
The game has sections with pizza-themed challenges, such as guiding a pizza cutter car along a racetrack against a clock, or using sauce to catapult to higher scores.
Players who "beat" the game's six levels recieve points toward free pizzas.
Cyrptoconversion
There are more than 1,000 cryptocurrencies, and just as traditional currency must be converted for travel and cross-border transactions, so must virtual money.
Bancor, an automated token conversion protocol, has launched the Bancor Wallet, which is designed to remove some of the steps in cryptocurrency conversions, reports
The wallet has internal connections between 75 cryptocurrencies thus far, so users do not have to use external exchanges to perform transactions that involve more than one cryptocurrency. The in-wallet conversions use smart contracts, which are designed to avoid fees and spreads of the exchanges, according to TechCrunch.
From the Web
The Wall Street Journal | Tue April 3, 2018 - Apple Inc. is nagging iPhone users to enroll in its mobile-payment service with a persistent red-circle badge. The strategy has worked with some, but is irritating others who say it is heavy-handed and exploits the tech giant’s clout in ways that could disadvantage rivals.
CBS Moneywatch | Tue April 3, 2018 - Bitcoin may have climbed on Monday while major U.S. stock indexes were tumbling, but don't think the debate over the cryptocurrency is any closer to being resolved. After all, bitcoin prices -- whose stratospheric rise made some rich and confounded many professional money managers -- have plummeted to earth in recent weeks.
CNBC | Tue April 3, 2018 - Ross Brown stopped accepting cash at his London cafe more than one year ago. Since then, business is better than ever. "So many people were paying with cards anyway we just decided to make the full switch," he told CNBC.
More from PaymentsSource
Europe's banks stand to benefit a lot from the SEPA Instant Credit Transfer scheme (SCT Inst) — but "instant" is a high bar that many banks may not be able to reach.
Before reports of the data breach at Saks Fifth Avenue, Saks OFF 5th, and Lord & Taylor fade from the news cycle, there's one detail that should alarm merchants, card issuers and consumers — and sets a tone for future data breaches.
Are the incentives for protecting card data so lopsided that merchants feel little need to do more? Or is it wrong to ask merchants to fix the faults in a payment card ecosystem they had little hand in creating?
A new cobranded Uber debit card from Green Dot’s GoBank unit gives drivers 3% cash back if they choose PIN entry when filling their tanks at ExxonMobil stations, affirming the persistence of PINs in an increasingly digital payments environment.
