The information you need to start your day, from PaymentsSource and around the Web:
Unfriendly fraud
Paytm Mall and E&Y will build a fraud prevention system, part of work E&Y is doing for Paytm Mall to investigate possible internal fraud.
A group of employees allegedly created fake vendor lists, orders and customers to take advantage of incentive offers, and also receive commissions on the sales, reports
PaytmMall found a pattern of repeat orders from specific profiles, which prompted the investigation.
Apple tag
Apple plans a NFC feature that uses small tags that attach to merchants' devices to trigger Apple Pay purchases.
Bird Scooters, Bonobos clothing store and PayByPhone parking meters are the first users of the technology, reports
Apple is also simplifying the signup for loyalty cards in the Wallet app, according to 9to5 Mac, which adds Apple is demonstrating the technology ahead of a wider rollout this year.
Incentive coin
The Belfast City Council and blockchain technology company Colu plan a locally-focused incentive-based digital currency.
Called Belfast Coin, it will provide coins in return for activities designed to improve Belfast, such as shopping at local businesses, volunteering and other civic activities, reports
Consumers can use these coins to make purchases at businesses that are participating in the network, which is scheduled to debut this year.
PIN car
One of
The PINs will be a six-figure code that is assigned to a rider, who is instructed to send the PIN to the first available driver who types the one-time code into the app to confirm the pre-order and load the ride credentials, reports
Uber has used a similar system at events such as the Kentucky Derby, and is extending it to Portland International Airport in Oregon, where it will be tested in anticipation of rollouts at more airports.
Crypto pay
Payment processing fintech Flexa is the latest company is also tackling the challenge of building a retail payment market for
Flexa will enable bitcoin, bitcoin cash, ethereum or GUSD at Nordstrom, Barnes & Noble, Lowe's, Whole Foods, GameStop, OfficeDepot, Regal Cinemas, Jamba Juice and others, reports
Like most cryptocurrency payment plays, Flexa converts the crypto to traditional currency before the merchant accepts the payment, so there's not necessarily a direct use of cryptocurrency. But it does give consumers another option to use crypto at stores.
From the Web
Reuters | Mon May 13, 2019 - Brazil’s largest private-sector lender, Itaú Unibanco Holding SA, will by the third quarter launch an instant payments platform that uses QR codes and an in-house messaging service, the bank said. Itau’s new platform, called Iti, will work through an app, available to both clients and non-clients of the bank.
South China Morning Post | Tue May 14, 2019 - Ant Financial, the mobile payments affiliate of e-commerce giant Alibaba Group, said it has signed up more than 300,000 retailers in Japan to its Alipay service to serve the growing number of Chinese tourists to the country.
CNBC | Tue May 14, 2019 - Fast Retailing, the Japanese company behind the Uniqlo retail chain, announced that the data of more than 460,000 customers on its online shopping sites were accessed by hackers from April 23 to May 10.
More from PaymentsSource
Apple’s aggressive posture when it makes moves in retail and payments has drawn a lot of pushback and controversy, but its setback in the Supreme Court could be the most dire threat yet to the growth of Apple Pay.
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As fintechs race to reinvent transit payments, Uber's laying the groundwork in Denver to make sure it takes a leading position.
Imagine that to cut costs, door makers do not install any locks. A lock, after all, is detrimental to door usability— it adds an additional step to the otherwise smooth process of entering and exiting the premises. Of course, it does increase the security of the homeowner, but on the other hand, people have to carry keys with them any time they want to go through the door, and keys can be lost or broken.
