The information you need to start your day, from PaymentsSource and around the Web:
A small dent
Apple's mobile wallet is used by 9% of U.S. consumers, reports
Apple, and mobile payments in general, are much more popular in China, where Apple Pay comes in at 17% — much higher, but behind WeChat Pay at 84% and Alipay at 81%. The researchers attribute the difference to the pre-existing mature credit card market in the U.S.
Gender Gap
Three quarters of women in the payments industry say gender discrimination is "unacceptably high" while only 38% of men agree, reports the London-based
Additionally, more than half of the survey group of 174 people (78% were women) said they have personally experienced gender discrimination. The survey also found a "strong sense" that gender bias has impacted compensation and opportunity for advancement.
And three in five say men have better opportunities, 55% reported men would rather higher other men; and 16% say women get preferential treatment because there are fewer high-ranking women at payment companies.
Margin call
Venture capital firms have been pouring a steady stream of funds into
A group of VC firms led by Trinity Ventures has made a $12 million seed investment in Baton Systems, a three-year old Fremont, Calif.-based payments technology company.
Baton supports bank-to-bank payments, using a distributed ledger to process transactions in real time, eliminating the need for banks to prefund the margin percentage requirements that investors must cover when buying stocks, reports
Loyalty breach
TGI Fridays in Australia has told consumers to change their passwords for the chain's rewards program after the restaurant left program data on the internet.
The incident did not include financial information, and there's no sign of an external hack, reports
TGI Fridays did not reveal the scale of the leak, which is tied to its AI-driven marketing program. It also said the exposure was limited to Australian locations and did not impact the U.S. part of its chain.
From the Web
BBC | Tue September 3, 2019
Lenders and credit card companies gradually start to roll out new measures to reduce card fraud known as Strong Customer Authentication (SCA). SCA originates from an EU directive designed to reduce payment card fraud across the continent.
YAHOO FINANCE | Sun September 1, 2019
Cielo announced its support for bitcoin and other cryptocurrency purchases via its 1.4 million point-of-sale devices. Customers will now have the ability to make bitcoin purchases through Cielo's point-of-sale devices by creating an account with its network partners, Uzzo or Criptohub.
FOX BUSINESS | Fri August 30, 2019
Candymaker Russell Stover Chocolates announced that a recent data security breach at its stores potentially affected the information of customers’ credit and debit cards. There is no evidence, however, that the hack impacted online payments, the company said.
More from PaymentsSource
As the U.K. rapidly transitions toward a cashless society — with U.K. Finance predicts that by 2028, just 9% of payments will be in cash — even pocket money is going digital. And the disappearance of tactile interaction with cash changes how kids learn about budgeting.
The Federal Reserve’s recent decision to build a real-time payment system — against the wishes of a big-bank consortium that operates its own next-generation network — has kicked off a new phase in the fight over how Americans will move money in the future.
Digital-age consumption habits. That's what the Federal Reserve Board is crediting in its decision to install a new round-the-clock payments system, called FedNow, by 2024.
Fueled by increased card transaction volumes (and the corresponding increases in disputes processing), Visa and Mastercard have both made significant changes to the management of disputes through their networks.
