The information you need to start your day, from PaymentsSource and around the Web:
Patent parade
JPMorgan Chase has filed a
This would allow settlement to happen faster and at less expense, according to the bank.
It's the latest large financial firm to file for a patent on emerging payments technology.
Ready to invest
Bain Capital, Silversmith, MissionOG, and Nyca and are among the investors in
It will focus particularly on B2B and B2C payments in markets around the world, and will combine the expertise of the companies to form new products. The company's first acquisition, Swift Prepaid Services, was made last year.
"The U.S. payments industry continues its rapid growth, but few opportunities exist for high-potential customers to leverage industry knowledge or shared services and tackle the market together," said Juli Spottiswood, chairman and CEO of Syncapay, in a release.
Ticketmaster's biometric EZPass
Ticketmaster plans to deploy facial recognition technology to speed admission at live shows and potentially make it easier for people to buy stuff once inside.
Once inside, Ticketmaster plans to use consumer payment cards linked to Ticketmaster accounts to support purchases inside venues.
About that tip from Richard Branson
British tycoon
The founder of the Virgin Group, which includes the airline and more than 400 other companies, said the ads use fake endorsements and promises of collaborations to dupe people into phony payment schemes and other types of financial attacks.
Branson said his legal team has been in touch with social networks where the fake ads appear, as well as law enforcement.
Arizona backs away from crypto tax payments
State legislators told the cryptocurrency news site the bill was being modified to make it more neutral regarding payment options.
From the Web
Financial Times | Sun May 6, 2018 - A challenge to credit card companies is being launched by the global airline industry and Deutsche Bank with a new electronic real-time payment system for plane tickets that seeks to save carriers billions of euros in transaction fees. The new system for web-based ticket sales to individual passengers, which does not have a brand name yet, is scheduled to be rolled out across Europe from the end of 2018, with Germany as the first market.
Fox News | Fri May 4, 2018 - Shimming is the latest scam targeting people who use credit cards to make everyday purchases. Shimming is a new way for scammers to steal credit card information, according to Bryan Oglesby, with the Better Business Bureau. Scammers insert a super-thin device, containing a microchip and flash storage, into the machine that reads the chip on your credit card.
Forbes | Sun May 6, 2018 - Jennifer Fitzgerald, the CEO, and Founder of Policygenius has more to her story than being a top fintech fundraiser. Still, that statistic is incredibly revealing about the under-representation of women in fintech and entrepreneurial funding.
More from PaymentsSource
A challenge for governments and banks in emerging countries is persuading consumers and small businesses to move from the informal cash economy to electronic payments. A project in Peru may be the answer.
There are lot of PINless debit transactions available to capture, and First Data's migration to dual messaging on Star supports any method a consumer may choose at the point of sale.
Banks, technology developers and payment companies are all experimenting with new ways to identify consumers by their unique physical traits, with the ultimate goal of improving security while also streamlining customer onboarding and authentication.
Only through data can issuers create a superior digital customer experience and provide strategic guidance to help on-the-go customers, writes Lisa Woodley, vice president of FSI customer experience for NTT Data Services.
