The information you need to start your day, from PaymentsSource and around the Web:
License to breach
National Australia Bank has suffered a data breach that affects names, dates of birth, contact details and government ID numbers such as driver's license numbers — all information that can be used to hack accounts and commit payment fraud.
The NAB breach comes closely on the heels of another breach on Australia's PayID, a bank-led real-time transfer app that works similar to Zelle, reports
The latest breach was a result of human error and was a violation of NAB's data security policy, the newspaper reports.
Bad gamble
The United Kingdom Gambling Commission plans a public consultation on credit card payments for gambling. The commission may ban credit card payments for gambling but will consider input from the gambling industry first, reports
The consultation will start in August. The commission is attempting to reduce the risk of gambling with borrowed money, which includes credit cards.
More movie subscriptions
The movie subscription payment business is filled with struggles but continues to draw new competitors who are attracted by the possibility of more predictable revenue streams.
Regal Cinemas plans to launch a service with three tiers of membership ranging from $18 to $23.50 per month, IMAX, 3D and double features, reports
Finding the right mix of recurring payments, movie discounts and special fees has been tough for movie apps.
Huawei weighs in on Libra
Huawei's CEO is calling for China to build a virtual currency to rival Facebook's Libra.
Ren Zhengfei was speaking about U.S. global hegemony and China's capability of issuing its own central bank currency to
China's Huawei has been caught up in the U.S.-China trade dispute, though there are signs that is easing as the
From the Web
ZDNet | Sun July 28, 2019 - New South Wales Transport Minister Andrew Constance said the state over the next five to six weeks would start allowing buses to accept payments via the PayPass or PayWave function on either debit or credit cards -- including smartphones and any smart devices that have NFC payment capability.
The Wall Street Journal | Fri July 26, 2019 - When MasterCard was losing ground to Visa in the credit-card market in 1980, it turned to Russell Hogg, a former FBI agent, to lead a turnaround. Mr. Hogg, who also had worked as an executive at American Express and American Airlines, started his CEO job at MasterCard International by grilling the top management.
The Straits Times | Sat July 27, 2019 - The Alibaba Group has successfully developed its own microchip, delving deeper into semiconductors as Washington targets China's tech industry. Alibaba unveiled the Xuantie 910 processor based on an open-source design known as RISC-V that competes with the global standard developed by SoftBank Group's ARM.
More from PaymentsSource
Most agencies use electronic benefit transfer to deliver funds to prepaid cards, but recipients who need access to cash are often caught in a bind, with fewer convenient or free ATMs available in an increasingly digital payments landscape.
As the e-commerce channel expands its share of total retail sales worldwide, it’s often thought that credit and debit cards are the primary beneficiaries. Clearly consumers can’t write paper checks for most purchases at digital stores, so other instruments are likely to be used. However, depending on the country and consumer habits, cash still remains a viable payment option for e-commerce transactions — with the help of a third party to handle the payment.
By offering Prime subscribers one-day shipping instead of the standard two, Amazon saw a dramatic change in shopping behavior — and a corresponding rise in costs.
Fiserv expects its $22 billion purchase of First Data Corp. to close on Monday after clearing regulatory requirements.
