The information you need to start your day, from PaymentsSource and around the Web:
Messenger calling
Facebook's strategy to boost
The partnership will allow consumers to avoid launching a banking app or logging into online banking to enter transaction details, and instead execute a P2P payment from a messaging app, reports
First Direct is looking to enhance its P2P service as it faces increased competition from Monzo and Starling, which are both adding more mobile-accessible financial services.
Arms race
As First Direct beefs up its tech, Monzo is adding new billing and points technology to keep up its
Monzo, which recently became a "unicorn," or valued at greater than $1 billion, will work with fintech Flux to add itemized receipts and loyalty points to Monzo's app, reports
The new function, which is scheduled to be released in London on Wednesday, has been in beta since 2017 while Monzo, traditionally a mobile payments company, build its account opening system and developed its banking strategy, according to TechCrunch.
Coffee maker
SOHO and U.K. mobile payment and loyalty marketing company Yoyo will build a new payment and loyalty app.
A global coffee chain, SOHO specializes in organic and Rainforest Alliance-certified coffee and food products. The app, which will debut in the U.K., will power mobile payments, marketing, SOHO's "new currency" points, and digital receipts from within the same experience.
The chain is building its new app as
Merchants wanted
The
As an extra lure, Aliant Payments will offer free cryptocurrency processing for some merchants in the U.S. and Europe that sign up for credit and debit card processing.
The move is designed to draw attention to Aliant's processing product, CryptoBucks, which allows merchants to use an API, plugin or app from Aliant's library to convert cryptocurrency to dollars.
From the Web
Reuters | Tue January 29, 2019 - Venture capital-backed financial technology companies raised a record $39.57 billion from investors globally in 2018, up 120 percent from the previous year, according to research by data provider CB Insights. Funding was raised through 1,707 deals, up from 1,480 in 2017, the research said.
Asia Times | Mon January 28, 2019 - As US sanctions continue to affect Iran, the Islamic Republic is reportedly about to launch its own state-backed cryptocurrency and an official announcement is expected at the annual Electronic Banking and Payment Systems conference that starts this week in Tehran.
Forbes | Mon January 28, 2019 - Massive personal data breaches and identity fraud continue to occur on a regular basis. Users still have to deal with countless passwords and registration procedures, while governments suffer from poor online acceptance and merchants experience high fraud costs.
More from PaymentsSource
Mobeewave, a provider of in-person contactless payment acceptance software, is getting an investment from Samsung Venture Investment Corporation that pushes a recent Series B funding round led by NewAlpha, Mastercard and Forestay Capital to nearly $20 million.
Discover and Garmin International are partnering to allow Discover cardholders the ability to make contactless payments through Garmin Pay on various fitness smartwatches.
Mastercard is making another run at getting a license to operate in China, though China's changing regulatory posture has created skepticism about its willingness to open its market.
All-in-one cards often fail, but Curve's attempt to change that narrative includes a premium card and increased support for American Express, which had previously blocked the London fintech.
