The information you need to start your day, from PaymentsSource and around the web:
Australian open
The Consumer Data Right has advanced in Australia, enabling consumers to share banking data with third parties such as mobile wallets and fintechs.
Credit and debit cards, deposit accounts and P2P accounts can be shared, with mortgage and loan data scheduled to be added in November, reports
Crypto shield
Bolt Labs has introduced a cryptocurrency payment product called zkChannels on Tezos, which is designed to be more private than similar options such as the Lightning Network.
While the Lightning Network can allow people to see other parties' accounts, or funding channels, zkChannel is uses protocols that are designed to hide that information, reports
Lightning is also working on updates to keep that information hidden, according to CoinDesk.
No store
500 Startups and FEMSA Ventures are among a group of VCs that have made a $12 million investment in Justo, a Mexico City-based delivery-only online supermarket.
The model, similar to
Justo contends its prices are similar to a traditional supermarket, and it's offering tiered delivery schedules running from express to the following day.
The droids they're looking for
Beijing-based e-commerce company Meituan-Dianping has invested about $15 million in Pudu, a robotics company that has developed a contactless delivery robot that's already deployed for hotels and food delivery apps.
The Shenzhen-based Pudu has sold 5,000 robots to clients including Sheraton and JD.com, according to
Pudu will use the funding to expand overseas. The robots are decentralized; they can communicate with each other and with other devices, creating the potential to link the robot to digital retail shopping and transactions.
From the Web
THE WALL STREET JOURNAL | Wed July 1, 2020
One of the world’s largest technology investors, SoftBank is seeking to terminate a five-year partnership its investment arm formed with Wirecard in April 2019, according to people familiar with the matter.
FORTUNE | Wed July 1, 2020
The median price of stolen card-present data has more than halved, from $12.50 last December to $6.30 in June, said Stas Alforov, head of R&D for Gemini Advisory, a New York-based cybersecurity firm.
REUTERS | Wed July 1, 2020
Mexico received $3.38 billion in remittances in May, versus $2.86 billion the prior month and $3.28 billion in May 2019, the data showed.
More from PaymentsSource
The U.K.’s six major banking groups are now required to have implemented the new Confirmation of Payee (CoP) scheme for Faster Payments and Chaps as part of a regulatory push to tackle the rampant rise in Authorized Push Payment (APP) fraud.
During the wave of fintech innovation that has occurred over the past decade or so, innovators have gone without meaningful and reliable access to the financial data and processing ecosystem.
An obscure-sounding statistic gives a fresh look at how dramatic the move to digital finance has been the past few months — and how permanent the move will be.
PayPal has launched a new online installment lending product in France geared to serving small and medium-sized businesses.
A global economic recession will be the catalyst for the mass adoption of decentralized finance, the technology behind cryptocurrency and other digital payments and finance innovation.
When PayActiv ended its coronavirus-related fee holiday this month, it didn't just go back to the way things were before; it adopted a modified business model that could bring it new markets and partnerships.
Fintech is providing real, viable and more affordable options for money remitters, to continue to be the lifeblood for communities all around the world, says Ding's Rupert Shaw.
