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Burying the blockchain hatchet
Ripple has built a market by using its blockchain to remove costs and time from international payments, initially as an alternative to banks, though it has more recently picked up support from traditional financial institutions.
Up to date
The teen debit card
The startup is adding routing and account numbers that will support direct deposit for summer and after-school jobs, reports
Current is designing the feature to have more flexibility than a recurring payment from a traditional bank because more teens are earning money "on their own" instead of in traditional jobs, according to TechCrunch, which reports more young people are working part-time via apps and technology companies.
KYC shield
A blockchain supported know-your-customer system has successfully cut time and resources from money laundering protection during a pilot, according to the
The app is designed to provide a location to perform identity checks and verification, rather than have those checks performed multiple times.
This can support GDPR compliance, as well as cross-party data management.
C suite scam
Businesses globally have lost more than $12 billion over the past five years from a payment fraud scheme that tricks corporate executives into sending company funds to hackers in Nigeria.
The group's list has about 50,000 executives, mostly at financial services companies in the U.S., according to CNN.
From the Web
Reuters | Wed December 5, 2018 - Britain’s competition watchdog on Wednesday ordered an in-depth investigation of PayPal Holdings Inc’s $2.2 billion (1.73 billion pounds) takeover of Swedish financial technology startup iZettle, saying the U.S. group had not done enough to address its concerns.
CNBC | Wed December 5, 2018 - Alibaba struck a partnership with the Belgian government on Wednesday to create a trade hub that aims to help companies in the country to sell products abroad. Belgium is the first European country to sign up to the Electronic World Trade Platform (eWTP), an initiative first proposed by Alibaba co-founder Jack Ma in 2016.
South China Morning Post | Wed December 5, 2018 - Internet and “big data” giants like Amazon.com and China’s Alipay pose an existential threat to traditional banks, the head of the Bank for International Settlements, Agustín Carstens, said on Tuesday. Carstens, who took charge of the central bank umbrella group a year ago, said the huge amounts of data that big internet companies gather on their customers meant they potentially have advantages over established banks.
More from PaymentsSource
It might be too early to determine the full impact of the new Visa Claims Resolution process designed to streamline and limit chargebacks, but 52 percent of respondents surveyed claimed no decrease in chargebacks since VCR, and most of the 33 percent reporting a decline cited a decrease of less than 5 percent.
The first wave of data from this year's holiday shopping season is in, providing insights into where the biggest fraud threats are likely to originate in the final weeks of the year.
Newly unsealed court documents make clear that regulators forced banks to terminate relationships with payday lenders and other lawful businesses, setting a dangerous precedent.
A shopping experience so easy that you feel like you’re shoplifting may be appealing, but it also raises privacy concerns, writes Peter Zaborszky, founder of BestVPN.com
