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Game on
Microsoft and Ernst & Young will use a distributed ledger to support payments and accounting for Xbox partners, artists and content creators.
The software giant wants to accelerate contract digitization, and will use AI based on Microsoft Azure as part of the
The two companies contend the blockchain and related integrations will reduce Xbox payment times by 99% with near real-time royalty calculation. The blockchain has been tested in a high-volume environment, called "soak testing," and can process 2 million payments per day, according to EY.
BitATM
ATM provider Kerma Tech is collaborating with cryptocurrency firm DigitalMint to expand bitcoin ATM locations, mostly at gas stations and convenience stores in the southeastern U.S.
The deal follows an earlier 2020 DigitalMint partnership with Answers Etc., a financial services technology firm, and another partnership with E-Money Commerce.
Bitcoin and other cryptocurrencies have been rallying in recent months as investors look for a hedge against inflation. That's opened an opportunity for bitcoin ATM makers to accelerate
Digital order
The digital yuan isn't a threat to the global monetary system, contends a former China Central Bank governor, looking to head off the same type of concern that's dogged Diem, the Facebook-affiliated stablecoin project formerly known as Libra.
Zhou Xiaochuan contends China's digital currency is designed to encourage international trade and boost the yuan's status, reports
The digital yuan is partly a response to Diem/Libra, which has drawn concerns that it would create instability by operating outside traditional monetary policy. The Diem project has shifted its model to address that concern. The digital yuan has also faced claims it will compete with
E-pilot
Lloyds Banking Group is testing a digital invoice financing program that's designed to speed funding to small businesses that are suffering liquidity challenges because of the pandemic and economic downturn.
The bank is using digital cashflow technology from Satago Financial Solutions, with a six-year contract resulting from a successful test, reports
Banks are relying on
From the web
REUTERS | Tuesday, December 15, 2020
China's central bank has called for wider acceptance of cash in economic activities and vowed to punish those who refuse to accept cash payments in the wake of a widening gap in access to digital services.
TECHCRUNCH | Tuesday, December 15, 2020
Taxdoo, a startup that has built what it calls an “automated platform for financial compliance” aimed at cross-border e-commerce companies, has raised $21 million in new funding.
ARS TECHNICA | Monday, December 14, 2020
The hackers behind the supply chain attack that compromised public and private organizations have devised a clever way to bypass multi-factor-authentication systems protecting the networks they target.
More from PaymentSource
Demand for buy now, pay later (BNPL) services in the U.S. is surging as cash-strapped consumers welcome the opportunity to get instant loans minus any official credit inquiry.
Paying on delivery with tokenization, biometric fingerprint cards, vein scanning or phone-to-phone with a variety of card payment options helps create a universe of consumer choice, convenience, personal preference and better fraud protection, says Radar Payments' Jane Loginova.
Ride-sharing apps always seem to be racing to be something else — or at least something more — especially given the coronavirus pandemic's impact on travel. With a banking license in Singapore, Grab can add fuel to the strategy.
JPMorgan Chase is partnering with Air Canada to introduce a cobranded Mastercard in the U.S. that will leverage a popular Canadian loyalty program. It is Chase's first new cobranded card partner to be announced in years.
Fundraising platform TapSimple has raised nearly £1 million (U.S. $1.3 million) in an investment round that will help it to continue to develop fundraising activity in what it describes as an increasingly cashless world.
In the rush to change how the world shops, countless retail businesses were forced to implement systems quicker than many were prepared for, leaving them without the proper time to test their solutions before fully implementing them.
The e-commerce expansion borne out of the pandemic heightens the balancing act between security and user experience, a challenge Forter and Nuvei hope to address through a mix of data analysis and an expansive network of merchants.
From brokering insurance contracts to financial settlements, smart contracts could bring immense innovation to CBDCs that otherwise would act as little more than an augmented medium of exchange, says Cypherium's Sky Guo.
The U.K. Supreme Court has rejected Mastercard’s attempt to force individual lawsuits over claims the card brand overcharged consumers and harmed competition for more than a decade.
