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Market economy
Ant Group is testing China's digital yuan, making it one of the first non-government-affiliated financial companies inside China to support the country's central bank digital currency.
Ant owns 30% of the online-only MyBank, which is conducting part of the test. Ant's Alipay app is also part of the beta, reports
WeChat Pay, China's other major private-sector digital wallet, has not been linked to the tests. The digital yuan is often viewed as a way to mitigate the digital wallets' influence, though the Chinese government insists
Palm reader
Following an initial rollout in Seattle, Amazon has deployed its new One checkout technology in New York at an existing checkout-free Amazon Go store in midtown, according to
Amazon has also added checkout technology to
Pandemic relief
London-based fintech Revolut has waived fees on international remittances to India for the next month as a gesture of support for the coronavirus outbreak. The firm is also encouraging donations to help the country's recovery.
The move is similar to other payment companies, such as
Revolut hopes to maximize funds that are going toward medical care costs, or for equipment such as oxygen tanks, which are in short supply in India.
Biotech
Payment technology firm FSS and fintech Zwipe have partnered to develop cards that combine FSS' contactless technology with Zwipe's biometrics.
The Norway-based
Zwipe is positioning the FSS collaboration as a way to scale contactless cards with advanced authentication faster, using its network to accommodate the higher demand for low or no touch retail during the pandemic.
From the web
THE WALL STREET JOURNAL | Tuesday, May 11, 2021
Americans are paying off their credit cards at the fastest rates in years. Banks are responding with generous card solicitations and looser underwriting standards.
REUTERS | Tuesday, May 1, 2021
SoftBank wants to list payment app PayPay, the CEO of its wireless unit said on Tuesday, adding that subsidiary SB Payment Service could also be a candidate for listing, as he seeks to illustrate growth potential at Japan's No.3 carrier.
TECHCRUNCH | Monday, May 10, 2021
Singapore-based Aspire, which wants to become the financial services “one-stop shop” for SMEs, announced that its business accounts have reached $1 billion in annualized transaction volume one year after launching. The company also unveiled Bill Pay, its latest feature that lets businesses manage and pay invoices by emailing them to Aspire’s AI-based digital assistant.
More from PaymentsSource
Google is enabling cross-border payments within the Google Pay app through integrations with Western Union and U.K.-based remittance firm Wise.
While the eventual emergence from lockdown will help ease the pressure on overworked compliance departments, there is still an obvious need for tools that will make the anti-money laundering process simpler and stress-free, says SmartSearch's
Both vendors use remote hosting and web delivery to support e-commerce, APIs and other technologies that go beyond their traditional focus on the ATM and point of sale.
Despite strong payment volume and revenue, Affirm's earnings suffered due to stock compensation and an adjustment on its purchase of PayBright in January.
Fraud is commonly viewed as a series of unique events such as a phishing attack, or target- based, such as romance fraud, or even by type such as unemployment fraud. Unfortunately, fraud is often so intertwined that a single event — such as Marriott’s 2018 data breach — often leads to another, such as synthetic fraud.
A 125,000-point sign-up bonus. Credits for Equinox personal training. An exclusive airport lounge with cold brew on tap.
New applications of QR codes in recent months mean that they have become part of our everyday lives, including as part of ticketing.
The Mojaloop Foundation's Adama Diallo and Paul Hunter argue open, affordable real-time payments systems have the potential to include all and help turn underserved women into the newly served, enabling them to become economically active.
American Express is trying to differentiate itself from other card networks by making loans through its bank and incorporating accounts payable services and lending technology it inherited with its acquisitions of Acompay and Kabbage.
MoneyGram is digging in its heels in anticipation of competition with Western Union at Walmart locations.
To make clear that debit card issuers should allow merchants a choice for routing card-not-present debit payments, the Federal Reserve is seeking public comment on proposed changes to Regulation II.
Twitter's new Tip Jar feature, which enables users to monetize their tweets, has led to immediate privacy issues.
The pandemic's most poignant insight is that humans are resilient and capable of making rapid changes at a moment's notice.
Square's bet on crypto keeps paying off: The Cash App business, fueled by bitcoin trading, generated the bulk of the company’s revenue in the first quarter.
The visibility of automated transactions provides a clear view of the flow of transactions, says Hummingbird's Joe Robinson.
Working with different fintechs, clothing seller Universal Standard has sped up its supply chain and photographer Matt Cameron has created a steady flow of client endorsements.
The company's Cash App business, fueled by bitcoin trading, generated the bulk of its revenue in the first quarter.
It's "powerful … to be able to use the word ‘bank’ in our marketing because we are a legitimate financial institution," CEO Dan Henry said Wednesday. Its rival Chime recently agreed to stop referring to itself as a bank in a settlement with California regulators.
This year's honorees are women under 40 who have demonstrated a strong talent for leadership and an expertise in their respective fields. They also took on crucial responsibilities to help their organizations navigate the complexities of the pandemic, and set their companies on a path for continued growth.
