The information you need to start your day, from PaymentsSource and around the Web:
A bigger force
The two companies have substantial payment operations that could embed with the CRM suite. Salesforce.com recently added billing to its
Alibaba is affiliated with Ant Financial and Alipay, and has made two major U.S.-related moves this week, also opening its online technology to
Amazon Go's rival picks up funding
EQT Ventures, Initialized Capital, CRV and Y Combinator have invested $35 million in Standard Cognition, which builds checkout-free technology for retailers looking to counter
Standard Cognition will use the funding to launch its technology in Europe, reports
Amazon Go's launch has corresponded with a race among other firms to build
WeChat in the sky
WeChat Pay has introduced in-flight mobile payments in China, opening one of the few venues in China where the app is not active.
The payments will be tested on two domestic flights, and will add more routes if the test is successful, reports
While mobile technology is common at airports for terminal purchases and boarding passes, it's more unusual for
Bank of cannabis
While most financial services firms stay away from legal cannabis, there is a growing market for companies that provide
One such firm is Swissx Bank of Cannabis, which has formed in Switzerland and has plans to open a second headquarters in the Caribbean. Swissx will issue a c ryptocurrency, SWX coin, which will be backed by proprietary hemp strain seeds worth about $750 million, according to a release. Farmers will be paid in SWX and can redeem that for cash from the bank's vaults in Gstaad.
The bank and the coin will manage all of Swissx's financial transactions in the U.S., Europe and the Caribbean, and the bank has plans to expand its suite to provide broader merchant services for cannabis businesses.
Elavon's PSD2 point person
Elavon has named Scott Frisby as head of strategy for the European region, where he will lead efforts in alternative payments, PSD2 and open banking, all key tasks given the tough overall
Frisby was previously a bank and payment company M&A advisor for First Annapolis Consulting, which is part of Accenture. He also was a vice president and managing consultant for Visa Europe.
His roles have also included work in digital product development.
From the Web
Yahoo Finance | Thu July 25, 2019 - Contactless transactions continue to account for the majority of card present transactions in Canada, according to the MonerisMetrics Quarterly Report released by Moneris Solutions Corporation.
Economic Times | Fri July 26, 2019 - Indian authorities are concerned that WhatsApp’s payment service might share user data with group companies Facebook & Instagram, compromising the security, privacy and non-commercial information of its subscribers.
Yahoo Finance | Thu July 25, 2019 - Previously, the Palo Alto-based company offered secure storage of cryptocurrencies but they weren’t accessible for features like staking, where coins generate interest by maintaining a proof-of-stake network, like Dash. Now, staking providers will be able to store their coins at BitGo—and pass the staking rewards on to their customers.
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