The information you need to start your day, from PaymentsSource and around the Web:
QR ID
Singapore's government will build a tool that allow businesses to vet user and payment data through QR codes to streamline customer sign up and registration.
Called SG-Verify, it joins Singapore's national digital identity project and other smart city initiatives in Singapore, reports
There are several payment projects underway in Singapore that could benefit from enhanced authentication, such as partnerships between local banks and
Retail techie
Walmart has hired Suresh Kumar, a former Google, Microsoft and Amazon executive, to be chief technology officer and chief development officer, a new position at Walmart.
Kumar joins
At Walmart, Kumar will lead a consolidation of the big box retailers's technology organizations, including Global Business Services, Walmart Labs, Sam's Club Technology and International technology, reports
Teen pay
Global Founders Capital has invested about $5 million in Pixpay, a French digital startup that's only a few months old and targets the teen payment market.
The company plans to offer a contactless payment card and access to Apple Pay and Google Pay, reports
The app, which will cost about $4 per month, includes spending and savings management and real-time purchase notifications. Pixpay will join a crowded market of youth-oriented payment apps, such as
Crypto Canada
Coinbase is extending its PayPal support to Canada, following a similar move in the U.S. and EU.
Clients in Canada can transfer sales proceeds directly to PayPal by linking their PayPal account to their Coinbase account, according to a
Coinbase plans to add other markets in the coming months.
From the Web
CNBC | Tue May 28, 2019 - The Apple Card’s consumer-friendly features make it harder for banks to make money on the product. Citigroup was in advanced negotiations with Apple for the card but pulled out amid doubts that it could earn an acceptable profit on the partnership, according to people with knowledge of the talks.
Forbes | Tue May 28, 2019 - Americans are relying less on physical currency, with roughly 29% of U.S. adults saying they don’t use cash to make any purchases during a typical week. This shouldn’t be a surprise, as the transition to a more cashless society has been gradually underway for a while.
CoinDesk | Tue May 28, 2019 - Jesse Lund, IBM’s global head of blockchain for financial services and digital currencies, is no longer working for the company. A spokesperson for IBM confirmed Lund’s departure.
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