The information you need to start your day, from PaymentsSource and around the Web:
eBay shoves PayPal further away: eBay has
Samsung's Cryptochip: Samsung has built a chip to mine cryptocurrency that's designed to be more efficient than other mining devices.
Smile, you're on Amazon: Amazon is trying to gain traction with what it calls SmileCodes, or a type of QR code that allows shoppers to obtain information about a product by scanning near an ad to launch a website or app.
Will U.K. ATMs disappear? Link, which operates ATMs in the U.K. plans a phased reduction in bank interchange fees for ATMs, which could cause thousands of machines to be pulled, reports
Australian 'open banking' takes shape: Even though the rules are focused on Europe, the
From the Web
The Wall Street Journal | Thu Feb 1, 2018 - Mastercard Inc. said Thursday it will become the credit-card network for outdoor-goods retailer Cabela’s, following the company’s sale last year to Bass Pro Shops. Large credit-card networks have been competing for high spenders, pouring marketing dollars into travel co-brand programs as well as partnerships with sporting-goods retailers that attract loyal shoppers by offering access to exclusive events and other perks.
CNN Money | Wed Jan 31, 2018 - Equifax has offered credit freezes to everyone for free, whether or not they were affected by the breach. Usually, there is a fee to freeze your credit, ranging from $2 to $10, depending on what state you live in. Once you've frozen your credit, you'll have to authorize the freeze to be temporarily lifted when you want to open a new line of credit yourself. In some states, you could be charged a fee for lifting the freeze, too. Equifax has waived any fees for placing, temporarily lifting, and permanently removing credit freezes through June 30. But freezing your Equifax credit report could still leave you vulnerable to identity theft, experts say. You'd also need to separately freeze your credit reports at the other two credit bureaus -- Experian and TransUnion. Those may still carry a fee.
Los Angeles Times | Wed Jan 31, 2018 - Square Inc.'s stock climbed after Chief Executive Jack Dorsey said the company is introducing bitcoin trading for almost all users of its cash payments app, signaling support for the volatile cryptocurrency. The service will be available to most customers of Square cash, with which users can transfer money to friends and family. Those in New York, Georgia, Wyoming or Hawaii are excluded. The San Francisco company said that most of the purchases and sales happen within seconds, and that it won't add an additional percentage or fixed dollar amount onto the sale of bitcoin. Users can buy as much as $10,000 worth of bitcoin per week, though there's no limit to the number of bitcoins users can sell. One bitcoin currently trades for about $10,000.
More from PaymentsSource
Sage Payment Solutions has spent most of the past half-year separating itself from its former parent company, Sage Group, a break that necessitated a new name as it changed its focus to sell a broader range of technology innovation for merchants and businesses.
The fintech revolution is now touching almost every market in the payments space. Some are still further ahead than others, so expect 2018 to be a year of consolidation in more mature sectors, but one of rapid change in those with some catching-up to do, writes David Yohe, vice president of marketing at BillingTree.
In many instances, mass transit systems have proven to be catalysts for adoption of new payment technology, starting with the genesis of contactless cards for access to buses and trains in Hong Kong and Japan in the late 1990s.
Mastercard knows the more time consumers spend on their mobile devices—often deliberately blocking ads—the less likely they are to see its iconic “Priceless” ads, even if those ads support a charitable cause.
