02.12.18 Your morning briefing

Enjoy complimentary access to top ideas and insights — selected by our editors.

The information you need to start your day, from PaymentsSource and around the Web:

Back to school: Fintech providers are pursuing schools, which retain lots of functions that are still prone to paper such as permission slips, supply payments and fundraisers. A startup called Script is automating the entire field trip planning process, including forms, signatures, payments and reporting. TechCrunch reports Script lets parents digitally sign permission slips with their fingers, then pay from their phone. The company was founded by Aaron White and Patrick Cahill, who both have an education technology background.

Cheryl Casey - stock.adobe.com

Open banking gets a book: A group of European banks and processors has published version 1.0 of a framework for third parties to use APIs to access bank accounts in compliance with PSD2. Finextra reports the coalition, called The Berlin Group, has introduced payment initiation and account information services guidelines. Third-party providers will operate and regulate these services through a dedicated access to an account interface between the third parties and the banks. The Berlin Group previously formed API standards for bank access.

Doesn't pay to play with Razer: Game accessory maker Razer is scuttling its "paid to play" initiative on March 1 because of negative feedback from consumers, reports Engadget. The program allowed users to earn points that could be redeemed for Razer's peripherals such as keyboards and mice. The perks required users to launch games through Razer's Cortex software and play up to five hours of eligible games each day. Razer will retain the zSilver and zGold virtual currencies tied to the paid to play campaign.

A place for cash in India: India's removal of a large portion of its cash has given rise to myriad digital payment projects, but there is still room for product development designed to improve cash access. NCR has introduced a small-footprint ATM that's meant to help financial institutions install more ATMs in rural and and underbanked regions, covering about a fifth of the country's population. NCR's CxBanking Software will power the ATMs, enabling biometric authentication to improve security and accessibility, according to a NCR release.

From the Web

WeTravel builds a payment platform for small travel businesses
TechCrunch | Fri Feb 9, 2018 - WeTravel wants to be the payment platform for small travel companies and group trips. Founded by three immigrant entrepreneurs who met at University of California, Berkeley, the company has just closed a $2 million seed round to expand its business among the small and medium-sized agencies that still play a role in tourism and travel. Last year (its second full year as a business) the company managed to book $15 million in transaction revenue for its customers, according to the company’s chief executive and co-founder Johannes Koeppel.

Equifax data breach put more info at risk than consumers knew
CBS News | Sat Feb 10, 2018 - Atlanta-based Equifax Inc. recently disclosed in a document submitted to the Senate Banking Committee that a forensic investigation found criminals accessed other information from company records. According to the document, provided to The Associated Press by Sen. Elizabeth Warren's office, that included tax identification numbers, email addresses and phone numbers. Finer details, such as the expiration dates for credit cards or issuing states for driver's licenses, were also included in the list. Equifax's disclosure, which it has not made directly to consumers, underscores the depth of detail the company keeps on individuals that it may have put at risk. And it adds to the string of missteps the company has made in recovering from the security debacle.

Government websites hit by cryptocurrency mining malware
The Guardian | Sun Feb 11, 2018 - Thousands of websites, including those belonging to NHS services, the Student Loans Company and several English councils, have been infected by malware that forces visitors’ computers to mine cryptocurrency while using the site. Late on Sunday, the website of the UK’s data protection watchdog, the Information Commissioner’s Office, was taken down to deal with the issue after it was reportedly infected by the malware. The cryptojacking script was inserted into website codes through BrowseAloud, a popular plugin that helps blind and partially-sighted people access the web. More than 5,000 websites have been flooded by the malware. Software known as Coinhive, which quietly uses the processing power of a user’s device to mine open source cryptocurrency Monero, appears to have been injected into the compromised BrowseAloud plugin.

More from PaymentsSource

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E-commerce forces incumbent issuers to improve consumer connections
Companies like Amazon are increasing customer expectation, and traditional issuers could lose out if they don't respond, according to FIS' Sona Jepsen.