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Honor system
France will shortly set rules that allow cryptocurrency companies to voluntarily meet standards for capitalization and consumer protection in exchange for approval.
The Financial Market Authority will issue rules by the end of July, and will urge crypto currency companies to pay taxes in France in exchange for approval, reports
The announcement of
Giant Eagle's no-checkout store has landed
Pittsburgh supermarket chain Giant Eagle has partnered with retail technology firm Grabango for one of the larger deployments of cashierless technology to date, totaling nearly 300 supermarkets and convenience stores.
Grabango uses computer sensor technology and algorithms to execute self-service checkout, contending it can serve much larger stores than the smaller ones that have dominated no-checkout and cashierless deployments thus far, reports
Cashierless stores have drawn a lot of attention but large-scale deployments are still limited.
Is PSD2 too narrow?
PSD2 regulation has gaps that could hinder open banking, according to the
The agency called for more detailed guidance, saying there's a need to address refunds, guidance for when premium APIs are allowable (premium APIs carry extra fees and provide access to financial services outside of PSD2's scope), open finance and general data management.
PSD2 has been fraught with missed deadlines, enough for a payments industry lobby group to call for delays of up to three years to comply with
Square coin
Hirings often reveal clues as to company plans — the project that eventually became Libra dates as far back as former PayPal president
Square also appears to be dropping similar hints by advertising for designers to work on
That suggests Square is considering cryptocurrency as a payment instrument. Square in 2018 began supporting bitcoin trading for
From the Web
TechCrunch | Thu July 18, 2019 - EBay said it is buying a 5.5% stake in e-commerce marketplace Paytm Mall as the global firm makes another push to gain footprint in India’s fast-growing e-commerce market.
The Motley Fool | Wed July 17, 2019 - Facebook has been working on a payments service in India for over a year. It launched a beta test with 1 million WhatsApp users in early 2018 and finally looks like it's moving forward with the project.
China Daily | Thu July 18, 2019 - China is on the cutting edge of the fintech industry and promises great opportunities for fintech talent, fueled by a rising demand for financial services and technology professionals, according to Hays plc, a global professional recruiting group.
More from PaymentsSource
WASHINGTON — While lawmakers on both sides of the aisle have concerns about Facebook's proposal to create a global digital currency, there was a sharp divide Wednesday about whether it should be allowed to move forward with the project.
Card issuers are accustomed to a world in which consumers choose which card to use at the moment they make a purchase. But in the Amazon Go model that more retailers want to emulate, that choice is made long before the shopper enters the store.
Swift is building out its Global Payments Innovation (GPI) service to allow corporations to initiate and track payments across all of their banking partners from a single source.
Seattle-based Remitly launched in 2011 with the goal of building a fully digital approach for beaming funds around the world, but while senders prefer mobile devices, recipients remain stubbornly attached to receiving cash.
