The information you need to start your day, from PaymentsSource and around the Web:
Under the hood
Amazon is reportedly using synthetic data to embed intentional mistakes to "train" Amazon Go's computer vision technology to respond to factors that could impact the user experience for automatic checkout.
Factors such as sunlight streaming into stores or unanticipated delays due to consumer movements were introduced to diversify data for the AI engine that supports workflow for the cashierless stores, reports
As
More compliance
Rabobank will include account information from other institutions in its Rabo app, which is designed to make it easier for consumers to get a more complete view of their payment histories and finances in a centralized location. Rabobank spent more than six months in a sandbox environment with about 750 developers, and expects to bring other companies on board in the coming months.
Supermarket crypto
Russian supermarket chain Dixy has deployed an ethereum-based supply chain payments engine.
The system will allow the supermarket chain's suppliers to receive payments in one day instead of the usual two-week window, reports
Alfa Bank and Pervouralskbank are the first two banks to participate in the system. In other markets,
Have mobile will travel
Wirecard has inked a deal with NK, one of Sweden's most well-known department stores, to enable Chinese mobile payment methods.
About 60% of Chinese tourists paid with mobile apps when traveling in 2018, according to a Wirecard release, which cited data from Alipay.
From the Web
Reuters | Wed June 5, 2019 - China’s Alibaba and Russia’s RDIF sovereign wealth fund will each invest $100 million in a Russian joint venture, RDIF said in a statement. RDIF also has an option to buy a further $194 million worth of shares in the joint venture from Alibaba, it said.
TechCrunch | Thu June 6, 2019 - Fintech startup Bunq provides full-fledged bank accounts. But if you’re happy with your existing bank, the company is launching a new free tier so that you can cut down on banking fees. The Bunq Travel Card is a Mastercard without any foreign exchange fee.
Fox Business | Wed June 5, 2019 - LabCorp said about 7.7 million customers’ personal information may have been compromised due to a data breach at a billings collections firm — a day after competing lab testing company Quest Diagnostics also announced nearly 12 million patients were potentially affected by a similar security incident.
More from PaymentsSource
For several years, independent sales organizations have been warned by colleagues in the merchant acquiring business that they had to keep up with payments technology to remain relevant in the payments ecosystem. And judgment day is fast approaching.
More than ever, banks will be leaning on new ATM technology to not only handle the cash that continues to pour into bank branches, but also to manage that cash flow by recycling its use to other customers, right from the machine.
The U.K.’s Nationwide Building Society has invested in Ordo, a fintech that protects consumers from invoice and payments fraud by allowing billers to send payment requests directly to it.
Mobile technology has improved the process of sending cross-border remittances, but most international money transfer services still have a long way to go before they’re streamlined and real-time.
