The information you need to start your day, from PaymentsSource and around the Web:
Speeding up
Hong Kong has launched a faster payments system, including some elements of the bank-led
Alipay, Octopus and about 20 banks have signed on for a system that supports near real-time transfers via a mobile number or email address.
Hong Kong's Faster Payment System is part of a seven-part "smart banking" initiative that aims to automate and standardize much of its financial services ecosystem to accommodate digital finance and interoperability with other markets.
Another day...
Zelle has had mixed success with
The latest is Pittsburgh-based Dollar Bank, which this week went live with Zelle within its online and mobile banking app.
Dollar is part of an expanding network—the app reaches more than 100 million consumers and
Tesco faces a breach fine
U.K. regulators say they may fine Tesco Bank about $50 million for not preventing a cyber attack that halted payments and other functions for thousands of customers in 2016.
The
Guard rail
Cryptocurrency companies are trying to lure merchants and consumers through the use of
Circle is publically releasing its USD Coin, which will tokenize U.S. dollars to transfer value on blockchains, according to
Like other stablecoins, USD Coin is designed to streamline transfers, also making the cryptocoins easier to use for a broader audience.
From the Web
Forbes | Wed September 26, 2018 - Ripple has powered back to retake its position as the world's second largest cryptocurrency by total market capitalization — a spot it briefly took from ethereum at the end of last week before falling back. Ripple has risen more than 100% so far this month as investors bet it will become the defacto way the world's established banks and financial services firms move money across borders.
CCN | Wed September 26, 2018 - A blockchain payments trial jointly launched by a trio of banks led by JPMorgan has roped in 75 new banks globally for seamless and faster interbank settlements. First deployed by JPMorgan in October 2017, the Interbank Information Network began as a blockchain experiment to minimize the participants and friction typically involved in a global payments transaction.
The Business Times | Thu September 27, 2018 - Payments infrastructure firm Stripe said on Thursday it has selected Singapore as the site for its Asia-Pacific engineering hub. The new facility will build and expand Stripe’s global payments and treasury network for the company’s growing user base in the region.
More from PaymentsSource
If a merchant seeking to avoid credit card fees turned to cash discounting, it was at least partly because the other option — putting a surcharge on credit card use — was complicated and illegal in many states.
Stripe’s software development kit, application programming interfaces and other recently added features for merchants place it in almost all parts of the payment value chain beyond its e-commerce forte.
Many companies no longer rely on static passwords alone, and use two-factor authentication to protect consumer accounts. The problem is they're using the same second factor: text messages sent to mobile devices.
Terminal provider paycosmos has launched its "ISO in a Box" payment platform, saying the software provides everything an independent sales organization needs to support agents and acquire merchant contracts.
