The information you need to start your day, from PaymentsSource and around the Web:
'Pay' of America
Through an integration with cross-border payment marketing company
The apps will also support push marketing and coupons, as well as a geolocation-based store search function.
ATM hackers claim a victim
Shortly after an
The attackers targeted the bank's ATM switch, approving transactions for cloned Visa and Rupay debit cards, reports
The bank closed its online system for two days as a precaution, adding it believes the attack originated in Canada.
A fast push for corporate automation
Real-time processing is spurring more automation for business payments, a segment that has traditionally lagged consumer transactions in technological innovation.
The bank, which based its research on a survey at a recent Nacha event, also reports 20% of execs predict machine learning will create "positive change," while other innovation such as blockchain and biometrics trailed, with 11% and 4% predicting those advancements would have a positive impact in the near term.
Going national
The mobile point of sale company first announced support for bitcoin trading in
Square later added more cryptocurrency services to Cash, such as
From the Web
CNBC | Tue August 14, 2018 - Bitcoin will continue to fall, because "there's just no value there," former PayPal CEO Bill Harris told CNBC on Tuesday. "The cult of bitcoin [makes] many claims — that it's instant, free, scalable, efficient, secure, globally accepted and useful — it is none of those things," Harris said. Harris, who is also founder of Personal Capital Corporation, came out swinging against bitcoin in an April op-ed in which he called the cryptocurrency a "colossal pump-and-dump scheme, the likes of which the world has never seen."
BBC News | Tue August 14, 2018 - Marks & Spencer is having a problem accepting card payments in around a quarter of its stores. Some stores are currently unable to take credit or debit card payments, while others had limited tills available to take card payments, a spokesperson for the chain said. They blamed "technical difficulties with our tills" for the problem.
South China Morning Post | Wed August 15, 2018 - Embattled financial technology businesses in China, which have come under tightened regulatory scrutiny, are becoming acquisition targets by mainland banks accelerating their digitalisation drive, according to global management consultancy McKinsey. Joe Ngai, managing partner for Greater China at McKinsey, said that tremendous changes are taking place in the mainland’s fintech sector amid the clean-up campaign by regulators to ward off financial risks.
More from PaymentsSource
Processing.com has 25 acquiring banks lined up as its transaction network, creating a safety net for dealing with high-risk merchants.
Cardlytics has added Wells Fargo & Co. to the list of banks using its card-linked offers platform after a successful pilot, joining JPMorgan Chase & Co. and Bank of America Corp., the latter of which has leaned on Cardlytics’ marketing service since 2012.
For NCR and Diebold Nixdorf's leadership, spotting the fintechs nipping at its heels is the easy part. Charting a path as a half-century-old market changes into something entirely new will be much harder.
Two years after Citi launched more than 7 million contactless-enabled Costco credit cards in the U.S., Costco has finally enabled tap and pay at its U.S. stores.
