The information you need to start your day, from PaymentsSource and around the web:
Digital euro
The
While the association says a digital currency can bolster the mission of the Single Euro Payments Area, its call is more about countering Facebook's Libra cryptocurrency project, which the association calls out in the first sentence of its press release.
While politicians have criticized Libra globally, officials in France and Germany have been particularly vocal, promising to "
A vote against central bank crypto
Not all central banks are keen on the idea of building a digital currency, as South Korea appears to be moving away from the idea.
Hong Kyung-sik, the director of financial settlement for South Korea's central bank, says that in most developed nations there is scant need for a central bank digital currency, reports
In South Korea, there is an advanced payment and settlement structure, and a high amount of openness that allows money to move fast and inexpensively, Hong said.
Moving further
Discover is extending its reach to Asia through a new partnership.
AsiaPay, a Hong Kong-based payment processor focused on the hospitality and e-commerce sectors, has added the Discover Global Network so its merchants may accept Discover and Diners Club cards in the region.
Discover-branded cards will be accepted immediately at AsiaPay’s merchants in Hong Kong, and AsiaPay will eventually extend acceptance to add at least 12 more markets including Singapore, Thailand and Malaysia.
Ticket to ride
U.K. bus company First Group is adding Google Pay to enable mobile ticketing, bringing the system in line with a large portion of the U.K. and London's
The bus deployment has started with a pilot in Glasgow, reports
The move is also part of a broad global trend to automate and open
From the web
REUTERS | Thu October 31, 2019
The Reserve Bank of India (RBI) has asked banks to ensure customers’ debit and credit card data is secure and investigate reports that say data of 1.3 million accounts was available online, a notice seen by Reuters showed.
TECHCRUNCH | Thu October 31, 2019
Apple on Wednesday introduced a new program that will allow Apple Card users to finance their iPhone purchases for 24 months, without paying interest. With the Goldman Sachs Apple Card, those iPhone users will have another option — and one without the associated interest and fees of a traditional credit card purchase, Apple says.
REUTERS | Thu October 31, 2019
Spanish banks could face a rise in legal claims related to consumer lending activities such as revolving credit, adding to risks faced by the financial sector that stem largely from global and European trends, the Bank of Spain said on Thursday.
More from PaymentsSource
APIs have opened a window for banks to capture a greater share of business payments, leading JPMorgan Chase to seek partners for faster results.
While sophisticated computer algorithms are increasingly used in the fight against fraud, criminals are still exploiting various loopholes to access consumer card and bank details, particularly for those opening new accounts.
Apple CEO Tim Cook has called Apple Card the "most successful launch of a credit card in the United States ever." If that's true, the company is banking on it to jolt lagging iPhone sales by adding an installment payment option.
In launching a new international account for its business clients, Starling Bank is converting the bank's debit card to support payments in either pounds or euros.
Dave & Buster’s will introduce mobile payments technology to its self-service kiosks dispensing game cards at the North American restaurant chain that combines dining with video games and other entertainment.
