The information you need to start your day, from PaymentsSource and around the Web:
German workaround
Several large banks still do not support Google Pay in Germany, but the app can be used with PayPal, providing a workaround, reports
Android Police also reports the deployment is relatively slow, but some German Google Pay users are starting to see options to add PayPal to their accounts.
Big bucks
Western Union is expanding its strategy to process much larger payments, debuting a cross-border multicurrency high-value digital transfer service in the U.K.
The service supports account-to-account transactions greater than about $70,000 via smartphones from Western Union's site or mobile app.
The transfer service has increased investment in compliance controls and has expanded its payout network to manage risk for larger transactions. It also plans to add other large money-sending countries to the service.
Pushing taxes
As
U.K. Finance, which represents banks, is proposing the tax, which has already been met by opposition from myriad cyber fraud prevention and consumer groups, reports
For example, Brooks Wallace, head of Emea for Trust Knight, said the proposal is a way to shift financial responsibility for push payments fraud onto consumers.
Patented
The card brand's
Mastercard instead is proposing a partitioned blockchain that could handle different data types.
From the Web
Reuters | Thu October 11, 2018 - Ant Financial’s Alipay, the operator of one of China’s top two mobile payment apps, said hackers have taken an unknown amount of money from accounts using stolen Apple Inc IDs and the issue remains unresolved despite reaching out to the U.S. giant. Alipay said in a post on its Toutiao social media account on Wednesday that users who have linked their accounts using Apple IDs should lower transaction limits.
Forbes | Wed October 10, 2018 - Payment systems are moving to real-time around the globe, according to a the fifth annual “Flavors of Fast” report from FIS, the financial technology powerhouse. FIS found 40 active real-time payment programs around the world, up from 25 in 2017 and nearly three times as many as the company’s inaugural 2014 study.
South China Morning Post | Wed October 10, 2018 - The adoption of mobile payments and lack of dominant providers in Southeast Asia are among the biggest challenges for technology start-ups hoping to expand in the region, according to a panel of entrepreneurs.
More form PaymentsSource
Square CFO Sarah Friar is leaving the company to become CEO of Nextdoor, a social network for local neighborhoods.
For bankers and network providers, it's a given that moving to a real-time payment system will lead to an increase in fraud attempts.
The Gap has selected Adyen as its processor for four European markets as part of a plan to replace a web of relationships with local networks and legacy payment systems with a single view of payments and customer data.
First Data is adding BlueSnap's e-commerce tools to consolidate the expanding menu of payment options that acquirers and financial institutions must juggle.
