The information you need to start your day, from PaymentsSource and around the Web:
Brexit hedge
Starling Bank CEO Anne Boden is in Dublin to lobby for an Irish banking license to support a new account for European expats who live in the U.K., and U.K. citizens who live in the EU, ahead of Brexit.
The account will not have fees and will support payments in Euros, reports
Digital payment company
Lost money
The New York Federal Reserve will provide "technical" assistance to Bangladesh Bank connected to the recovery of $81 million that was
The cooperation includes meeting with agencies and other parties to "strongly encourage" assistance in the recovery, reports
Hackers used the Swift payment system to steal from the Bangladesh Bank and a series of other banks about three years ago, sparking a wider debate over
Ring to it
Amazon spent $839 million for the digital doorbell company
Amazon's Ring deal, and another $753 million for the online pharmacy PillPack, made up almost all of Amazon's M&A investment for the year, reports
Ring's also not Amazon's only investment in home-delivery technology. The e-commerce giant bought
Crypto rules
The Philippines is adding a set of rules to govern the cryptocurrency market, including ICOs, tokens and and assets.
The Asia Blockchain and Crypto Association will be the regulatory authority, and will enforce the new rules, reports
The ABACA will also set rules for utility and security tokens, addressing when cryptocurrency sales are regulated as a security — an often
From the Web
Nikkei Asian Review | Tue February 5, 2019 - Alibaba Group Holding built its empire on China's e-commerce market, but the company is laboring to end its reliance on online sales as the economy teeters by following Amazon's lead into cloud services. Looking at results from the October-December quarter, Amazon has an overwhelming lead in sales.
Forbes | Mon February 4, 2019 - Google thinks that in the U.S., the Fed is best positioned to define and implement a faster payments infrastructure. The Fed can ensure the lowest degree of settlement risk and provide a neutral space for all participants in the industry, added Google, neatly defining itself as part of the financial services industry, something the banks would contest.
ZDNet | Mon February 4, 2019 - US-based casual dining and fast food restaurant chain Huddle House announced late Friday last week a security breach that impacted its point of sale (POS) system. "Criminals compromised a third-party point of sale (POS) vendor's data system and utilized the vendor's assistance tools to gain remote access-and the ability to deploy malware-to some Huddle House corporate and franchisee POS systems," Huddle House said in a security alert listed on its front page.
More from PaymentsSource
U.K. credit unions have traditionally been associated with loan and savings products, but the industry is eyeing a move into the payments markets to offer an alternative to traditional banking.
Singapore’s banks have gained a six-month extension to comply with regulations aimed to protect consumers and businesses using P2P and other electronic funds-transfers within the country.
Facebook is inching closer to threatening traditional processors and financial institutions with its own digital currency by adding staff with expertise in the underlying technology.
Ingenico has hired a new chief financial officer with M&A experience, days before the embattled payments equipment and software provider's plans to announce lower-than-expected 2018 earnings.
