The information you need to start your day, from PaymentsSource and around the web:
Q&A
Much of the
The European Union is getting more specific, sending a list of questions to Facebook and the Libra Association that focused on financial stability, money laundering and data security, reports the
While Libra's announcement was designed in part to preempt political stress by focusing on the stablecoin structure and use for financial inclusion, the way Facebook handles compliance will play a role in how its partners decide to participate, if at all.
Signs of a cool down
Online payments startup Kaspi has cancelled plans for an IPO on the London Stock Exchange, which in a broader context points to possible overall softness in the technology market.
The payment company cited "unfavorable and uncertain market conditions," reports
Finextra also pointed to
Blocking out
The Sacramento Kings are building a reputation as a high-tech franchise, with the NBA team's latest move being a blockchain-supported incentive marketing program.
The Kings will use the blockchain to help fans accumulate coins in a virtual wallet in the team's Golden 1 Center app. The coins are part of a predictive gaming mobile feature and should be ready when the season opens Oct. 25.
The
A bigger Stripe
Stripe has launched in Malaysia, offering its full stack of products, such as billing, payment acceptance and merchant services.
The move is part of a broader geographic expansion for
Like a lot of the countries in the region, Malaysia is a smartphone-heavy market that primarily uses cash, giving Stripe a large addressable opportunity. Stripe estimates more than 80% of Malaysians have internet access and about 66% access the web via their phones.
From the web
FORBES | Mon October 7, 2019
One of the primary defences against cyberattacks is multi-factor authentication (MFA), the use of a secondary token or one-time code to assure the identity of staff. But the FBI has now warned that it “has observed cyber actors circumventing multi-factor authentication through common social engineering and technical attacks.”
YAHOO FINANCE | Tue October 8, 2019
Wirecard and SES-imagotag strengthen their cooperation to build a joint ESL-enabled (Electronic Shelf Label) mobile payment solution for in-store shoppers. Wirecard payment technology will now be automatically available on all cloud-based SES-imagotag IoT price tags. The solution will enable frictionless shopping while reducing the cost and time of traditional checkout.
FORBES | Mon October 7, 2019
According to data from Cybersecurity Ventures, cybersecurity spending for the five years leading up to 2021 is expected to exceed $1 trillion, but the annual global losses from cyberattacks is expected to hit $6 trillion by the same year. Clearly, there is something fundamentally wrong with the standard model of cybersecurity.
More from PaymentsSource
Canada is often at the forefront of payments innovation, with active fintech hubs and a national initiative to restructure the country’s transaction system for e-commerce. Yet outdated attitudes about identity risk linger, showing how hard it will be to achieve global digital ID at scale.
BBVA has been making a concerted push toward banking-as-a-service, working with fintechs to white-label its products and services to third parties, often in ways that leave BBVA virtually invisible to the customer.
As fintechs like Stripe and Square close in on NCR's traditional businesses, the technology company is adding scale in southeastern markets through a purchase of Midwest POS Solutions.
NatWest is expanding its test of cards that use biometric fingerprints to authorize transactions, citing expanded use cases for contactless payments in the U.K.
