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A boost in Brazil
PayPal is collaborating with Itau Unibanco Holding, Brazil's largest private lender, to offer payment services to the bank's cardholders.
The move will add one million consumers to PayPal's existing 3.8 million client base in Brazil, according to
PayPal this week also entered a partnership with remittance company
Heartbeat
Danish fashion brand Skagen has launched new wearable devices which include GPS, heart rate monitors and NFC for contactless payments via Google Pay, according to
Hold steady
Terra has closed a $32 million seed funding round, which it will use to create a blockchain-based "stable coin" designed to avoid cryptocurrency's market volatility.
Binance Labs, OKEx, Huobi Capital and Dunamu & Partners are the lead investors, along with a group of blockchain-focused firms.
A bag of chips
More than 3.1 million merchants in the U.S. accept EMV chip cards, or nearly 2.7 million more than in 2015, according to
The card brand also reports the number of Visa chip cards in the U.S. is now 500 million, or up 214% since 2015.
EMV is also performing its primary security role, as counterfeit fraud losses are down 75% for EMV merchants. Visa also reports 97% of June 2018's U.S. payment volume was on EMV cards.
From the Web
Forbes | Wed August 29, 2018 - Azimo have announced an 80 percent growth in transactions sent to M-Pesa in Kenya since the start of 2018, confirming the dominance of mobile wallets, which accounted for 96 percent of the payments delivered to the wallet. The fintech has been working with Homesend, the cross-border payments provider and joint venture of Mastercard and eServGlobal, in order to enable instant money transfers to the Kenyan mobile wallet and in turn, strengthening Azimo’s market share among Kenyans abroad.
CNBC | Wed August 29, 2018 - Even after payments company Square's stock price quadrupled in a year, one analyst is betting that the shares are still cheap. Guggenheim raised its price target to $100 from $75 Wednesday and named Square its "new best idea" and "highest conviction name" in fintech.
TechCrunch | Wed August 29, 2018 - Air Canada has confirmed a data breach on its mobile app, which the airline said may affect 20,000 people — or 1 percent — of its 1.7 million app users. According to an email to customers, attackers may have accessed basic profile data, including names, email addresses and phone numbers,
More from PaymentsSource
Nedbank Money users can store payment card data in just one app for all the main South African scan-to-pay schemes, representing a combined footprint of over 100,000 retail points of presence and 800 billers.
There is space for banks to enter a market they largely ignore, according to William Phelan, president of PayNet.
Very few organizations have adopted blockchain technology for any meaningful day-to-day use. But a change could be afoot.
The two companies were part of an $8 million funding round for Paystack, a company with a model similar to Square.
