The information you need to start your day, from PaymentsSource and around the web:
Down to business
Facebook has faced a non-stop barrage of
Taking a more measured stance, the Reserve Bank of Australia said it is prepared to regulate Libra, and other large multi-national payment products, adding it would coordinate with other central banks to oversee international payment challengers. The RBA added these initiatives would provide a competitive mix alongside the country's faster payment program, traditional card networks and other fintechs, according to
It's a softening and less rhetorical position for the RBA, which earlier said it would not allow Libra unless it addressed a series of
Lazarus crackdown
The U.S. government has added 20 bitcoin addresses to a sanction list tied to North Korean hackers.
The hackers are tied to the Lazarus Group, which has been accused of stealing more than $500 million in cryptocurrency, reports
Lazarus has also been tied to
A new conversation
Clinc's voice banking technology has gotten a major boost through Visa, which will support Clinc for the card network's API users.
Clinc's technology includes balance queries, transaction histories, turning cards on and off, payment disputes, bill payments, access to incentives and other services.
Visa updated its
Pushing at fraud
The Bank of Scotland is the initial adopter of a U.K. name checking service that's designed to combat push payment fraud.
The U.K. is expected to adopt confirmation of payee services nationwide within the next month in line with a regulatory deadline, reports
The service focuses on the U.K.'s Faster Payments scheme, which makes up more than half of the consumer-initiated payments in the U.K.
From the Web
BBC | Mon March 2, 2020
Tesco is issuing new cards to 600,000 Clubcard account holders, saying a database of stolen usernames and passwords from other platforms had been tried out on its websites, and may have worked in some cases. The supermarket said it had emailed everybody potentially affected, that nobody would lose their points and new vouchers would also be issued.
TECHCRUNCH | Tue March 3, 2020
Podium, a Utah-based SaaS company focused on small business customer interactions, added payments technology to its product suite today. The move accretes a new income stream to the company’s quickly growing annual recurring revenue (ARR).
FORBES | Mon March 2, 2020
With the rise of virtual cards and payment tools comes a need for updated regulatory standards and consumer data protection between jurisdictions. Uniform, international standards governing this emerging sector of the financial system must be adopted so consumers can be confident that sensitive financial information will be protected.
More from PaymentsSource
Coronavirus, also called Covid-19, is wreaking havoc on the stock market, with a heightened effect on the travel industry. It could also cause a drastic change in payment habits, as consumers shift to digital channels to reduce their risk of infection from handling cash.
Bankers are on high alert about fintech competition, according to survey results issued Monday by Promontory Interfinancial Network.
Redwood City, Calif.-based processor i2C has hired Jim McCarthy as president, two years after Visa dismissed the card network’s former innovation chief.
Customer interaction platform Podium has added a Payments feature, allowing businesses to use text messaging to accept funds directly from customers.