The information you need to start your day, from PaymentsSource and around the web:
Cutting off
Greenpeace removed a bitcoin donation page from its website and stopped accepting bitcoin donations due to concerns about the cryptocurrency's high carbon output.
The environmental organization had accepted donations in bitcoin since 2014, using a third party to convert the crypto to U.S. dollars for deposit, according to
As cryptocurrency has become more mainstream, bitcoin mining's environmental impact is drawing more attention, accelerating the cryptocurrency industry's migration to more
With the program
Commerzbank and German chemical companies Evonik and BASF are testing a blockchain to manage supply chains.
The partnership is using programmable money, or the use of an electronic ledger to create a transactions record, to execute payments, reports
The three firms will expand the project to other supply chain partners in the next few months.
Writing code
The
The country's ePayments Code, which has not been updated since 2010, will be changed to cover compliance monitoring and data reporting, mistaken internet payments, small-business protection, unauthorized transactions and managing disputes. The ASIC is gathering industry input until July 2, after which it will publish an updated draft of the Code.
Most of Australia's financial institutions subscribe to the ePayments Code, which details consumer protections and bank responsibilities for electronic payments, ATMs, cards, online transactions and mobile banking.
New crypto collective
The Komorebi Collective has launched to make investments in new cryptocurrency companies that have women or nonbinary founders.
The collective is a decentralized autonomous organization (DAO), which organizes groups of investors who pool and vote on investments as a group. DAOs have become more popular in recent months as digital currencies expand, according to
The Komorebi Collective includes members from the crypto nonprofit she256 and Women in Blockchain. There are 36 voting members for each investment.
Nothing but Nets
The Brooklyn Nets and American Express opened a contactless store in Barclays Center to coincide with the start of the NBA playoffs.
The store allows fans to tap their card on a panel to gain entrance, then take food and NBA-related merchandise. Sensors identify the weight of the items and assign a monetary value, explains
From the web
REUTERS | Monday, May 24, 2021
Cryptocurrency miners, including HashCow and BTC.TOP, have halted all or part of their China operations after Beijing intensified a crackdown on bitcoin mining and trading, hammering digital currencies amid heightened global regulatory scrutiny.
TECHCRUNCH | Monday, May 24, 2021
In February, Nigerian fintech startup Mono announced its acceptance into Y Combinator and, at the time, it wanted to build the Plaid for Africa. Three months later, the startup has a different mission: to power the internet economy in Africa and has closed $2 million in seed investment towards that goal.
THE WALL STREET JOURNAL | Sunday, May 23, 2021
Apple called CEO Tim Cook and other execs to rebuff ‘Fortnite’ creator’s monopoly claims as trial turns to debate over security, profits
More from PaymentsSource
The digital migration caused new risks, and new responsibilities for security professionals, say RUSI's Isabella Chase and ACAMS' Rick McDonell.
Business leaders in Atlanta and San Francisco warn that the digital divide will widen if Black-owned companies can't accept online and mobile payments.
Trustmark in Jackson, Mississippi, had been testing video-enabled ATMs since 2017, starting in a branch lobby, a drive-through lane and a “transformed” branch that shared space with a coffee shop. The experiments were promising, but the company felt there was room for improvement.
Apple's Chief Executive Officer Tim Cook said it would be “terrible” for iPhone and iPad users if a judge ordered the company to allow third-party app marketplaces, in addition to its own App Store, as Epic Games Inc. is demanding in a high-stakes antitrust battle.
Authorized push payment fraud — where fraudsters trick people into voluntarily transferring money or providing credit card or other payment information over the phone or via digital channels — is accelerating globally.
WASHINGTON — The Federal Reserve signaled Thursday that it is looking to expand its oversight of stablecoins, just one day after China issued a warning about the financial stability risks of cryptocurrencies like Bitcoin and Ethereum.
Synchrony has committed to place $15 million in venture capital funds led by women, minorities and other underrepresented groups, as part of Synchrony Ventures’ broader initiative to drive diversity through investment.
Figure Technologies, the blockchain-based startup co-founded by Mike Cagney, is closing its latest funding round that values the company at $3.2 billion.
The European Central Bank made a veiled threat to commercial banks that are extracting fees from real-time payments, stating the levies stand in the way of progress.
The economist Joseph Schumpeter created a term called “Creative Destruction," as can be seen in cases such as Netflix vs. Blockbuster, department stores vs. Amazon, taxis vs. Uber and so on. Cryptocurrency could be brewing another creative destruction in the financial markets.
Regulators must urgently usher the unbanked or underbanked individuals into the wider financial ecosystem as they continue to craft open banking rules, says FISPAN's Clayton Weir.
The money transfer company is working with Coinme to provide a way for bitcoin users to access their profits — or cut their losses.
Bitcoin's value plunged 30% Wednesday morning — and bounced back to just shy of $40,000 by the afternoon — in a stark reminder of why many people are still wary about using the cryptocurrency for payments.
Japan is one of the most cash-centric of all developed nations, with about 80% of consumer transactions conducted with paper or coins, but the pandemic triggered some shifts that Adyen wants to capitalize upon.
Mastercard will soon bring workers back to its New York City office at least two days a week.
Looking into the crystal ball for visions of the future, one might think 2020 occluded anything from being conjured. The reality, however, is that the global behavioral shifts we saw followed trendlines the payment industry has been tracking for years.
U.K. and EU regulations enable cards that provide digital-first features for funds kept in a different bank's account.
The concept amplifies spending visibility from the center of the business way out to its edges, creating more transparency.
DMG Blockchain is using hydro power to mine bitcoin. It's part of a movement to support crypto without straining local power grids or polluting the environment.
Companies like CanPay fill the void today, as more states open up to legalization and more consumers want alternatives to cash. And as it turns out, there's a lot of innovation — like digital payments and curbside pickup — that can happen even when cannabis is still outlawed on a national scale.
Following successful U.S. launches, Mastercard’s True Name feature for transgender and nonbinary users is coming to Europe through the challenger bank bunq.
This year's honorees are women under 40 who have demonstrated a strong talent for leadership and an expertise in their respective fields. They also took on crucial responsibilities to help their organizations navigate the complexities of the pandemic, and set their companies on a path for continued growth.
