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Buy button moves forward
EMVCo has released Specification v1.0 of Secure Remote Commerce, commonly called a universal buy button. The project's use cases include a universal guest checkout button that uses banking apps for authentication.
Mastercard is implementing SRC as part of its newly announced
Discover also announced its plan for SRC, with implementation scheduled for sometime this year.
Youth vote
Stripe's the lead investor in a $22.5 Series A round in Step, a teen-focused financial services app, a market segment that's had mixed success.
Step links to a Mastercard that supports transfers, shopping and Apple Pay and Google Pay. Stripe will provide issuing and processing technology for Step. Other Step investors include actor Will Smith and rapper Nas.
Stripe's investment comes shortly after
No contact with cash
Contactless payments are maturing in London with 70% of the city's population adopting contactless payments, a 30% expansion during 2018.
At the same time only 4% of the population is primarily using paper money for transactions, reports
UK Finance attributes the growth to the introduction of contactless payments in London's transit system. U.S. agencies, and companies such as Mastercard and Apple, are currently deploying
Another inch
The next step is a white paper on Libra, the name of Facebook's crypto project, which is due on June 18, reports
Facebook's coin will be based on multiple currencies rather than a single currency, such as the U.S. dollar, in an attempt to mitigate price fluctuations — a major problem that's kept other cryptocurrencies from being widely used outside of investments.
Clarity on crypto
The SEC has sued social media company Kik, claiming its Kin cryptocurrency's ICO was an unregulated securities sale, reports
A ruling could provide a clue as to how ICOs and cryptocurrencies should be regulated. The
Cryptocurrency companies such as
From the Web
TechCrunch | Thu June 6, 2019 - Messaging app Line has partnered with Visa to bring traditional financial clout to its mobile payment service. The deal will see Line Pay become compatible with Visa’s 54 million merchant partner locations worldwide, boosting the service outside of its native Japan, where it has been pitched heaviest so far and where Line claims 80 million users.
Forbes | Thu June 6, 2019 - It is aviation’s largest known data breach, with 9.4 million Cathay Pacific passengers impacted, but also puzzling, gathering only 430 credit card numbers, mostly expired and none complete. Cathay says it has not received any reports of data being misused or listed on the “dark web.”
The Hill | Thu June 6, 2019 - The recent breach of a billing collection provider for blood testing groups Quest Diagnostics and LabCorp are underlining the serious threats posed to the health care sector from cyberattacks. A handful of Democratic senators have already announced they are looking into the breaches.
More from PaymentsSource
Any bank, mobile wallet provider or retailer pushing for consumers to download their apps will be paying close attention to the new Sign in with Apple service — especially since Apple is making it mandatory for any app that allows third-party logins.
In January, U.S. Commerce Secretary Wilbur Ross sparked outrage for suggesting during the partial government shutdown that furloughed federal workers could bridge missed paychecks by taking out short-term loans.
Discover Financial Services said Thursday that Chief Financial Officer Mark Graf plans to retire next year and that a search has begun for his successor.
Real-time payments, the superfast new standard in U.S. billing and payment processing, represent the most sweeping change to the U.S. payments system since the Automated Clearing House launched approximately 45 years ago.
