The information you need to start your day, from PaymentsSource and around the Web:
Digital ID network
Mastercard's work on interoperable digital ID already includes numerous partnerships, such as a collaboration with
Mastercard and Samsung will pool resources to build automated authentication options for mobile devices. Samsung has been adding to its mobile pay technology, investing in
Multiple companies and governments are working separately, and at times in concert, to build
Apple wins over another holdout
National Australia Bank has added support for Apple Pay, giving the mobile wallet coverage of most of Australia's banking market.
Apple Pay has also lured major merchant holdouts in the past year, such as
Chilean footprint
ACI has signed a deal with long-time Chilean card processor Transbank to bolster ACI's local presence and improve Transbank's ability to comply with local card mandates.
Transbank has developed digital payments in Chile for about three decades and has recently upgraded its processing system as the Chilean government changed its regulations to open the merchant acquiring industry to more companies.
Transbank will use ACI's retail payments gateway, which uses a service oriented architecture to support different payment methods, to meet the new government requirements.
British invasion
Cryptocurrency and foreign exchange fraud attacks in the U.K. expanded about 300% over the past year to more than 1,800 incidents, from less than 600 in 2017, reports
Most of the cases, or 81%, were cryptocurrency fraud, according to the FCA. The nature of the crime is also changing, with many more attacks of smaller value.
While the number of scams jumped, the value of the scams fell, to $34 million from $48 million. The average individual loss also fell to $18,600 from $75,000.
From the Web
The Motley Fool | Tue May 21, 2019 - Square has been one of the most disruptive companies in finance over the past decade, advancing the mobile payments market and adding services that make small businesses easier to run than ever before.
CNBC | Tue May 21, 2019 - The payment processor, which works with Square, Instacart, DoorDash and others, closed a Series E Funding round. The new cash injection brings its latest valuation to $2 billion as investors pour into the payments space.
Forbes | Tue May 21, 2019 - E-Bai Koo, executive vice president, global commercial services at American Express, outlined the benefits of the virtual card payment solution for buyers and sellers that rely on the Ariba Network to purchase goods and services with their American Express cards.
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