The information you need to start your day, from PaymentsSource and around the web:
Subway series
The Mets have added biometric self-checkout kiosks at concession locations, making the team the latest to introduce technology designed to lower lines at entrances and food stands.
Aramark, the Mets' food and beverage vendor, is working with biometrics company Clear and Mashgin, which builds AI-powered kiosks to scan multiple items and verify age for alcohol purchases. Clear has already installed biometric concessions in Seattle for the Seahawks and Mariners.
It's a busy time for concession innovation. The cross-town
MoneyGram's footprint
The Agricultural Bank of Egypt has partnered with MoneyGram to support transfer services at more than 1,200 bank branches in the country.
Remittances make up more than 11% of Egypt's GDP, and are the country's second largest source of foreign exchange after exports, MoneyGram says in a release, citing figures from the World Bank. ABE is one of the largest agricultural banks in the Middle East.
House party
Installment payment firm Klarna will open a pop-up store in Manchester, U.K., in early October, selling a range of beauty and lifestyle brands. Called the "House of Klarna," the company operated a similar temporary location in London in June.
The Swedish company is trying to add to its retailer network, following up on deals such as the one it struck with
The installment payment industry has become more competitive with companies trying new strategies to diversify.
A new pitch
Facebook is positioning its pending
Bertrand Perez, Libra's managing director, said the cryptocurrency could aid sustainable development, gender equality and financial inclusion, reports Coindesk, adding Perez was addressing a blockchain conference at the U.N. in Geneva.
One of Facebook's initial arguments is it would improve access to financial services in developing markets by decentralizing access to currency.
From the web
YAHOO FINANCE | Sat September 28, 2019
POSaBIT Systems Corporation, a financial technology company that provides unique payment processing solutions for cash-only businesses with a focus on those within the Cannabis industry, has introduced their full point of sale hardware and software to Cannabis retailers in California.
FOX BUSINESS | Fri September 27, 2019
Dunkin’ Brands, Inc., the parent of the donut and coffee chain formerly known as Dunkin' Donuts, is being sued after a series of cyberattacks allegedly cost its customers tens of thousands of dollars. Nearly 20,000 customers' accounts were compromised in attacks in 2015 and 300,000 accounts were affected in 2018, the New York Attorney General’s office said in a press release.
COINDESK | Mon September 30, 2019
Ripple is expanding its engineering team and moving into a new geography with the acquisition of Iceland-based crypto trading firm Algrim. The team will work to expand Ripple’s cross-border payment corridors and contribute to the ongoing development of the company’s on-demand liquidity product, said Amir Sarhangi, Ripple’s vice president of products.
More from PaymentsSource
Wells Fargo has named Charles Scharf to be its next CEO, placing an experienced bank executive at the top of the troubled company.
Charlie Scharf, the newly appointed president and CEO of Wells Fargo, said Friday that he has no preconceptions about the right strategic path for the scandal-plagued bank and will take the time necessary to make key decisions.
Visa is leaning more heavily on its Issuers’ Clearinghouse Service (ICS) to help banks combat the rise of synthetic fraud, which it attributes in part to a security measure adopted by the Social Security Administration years ago.
Checkout-free tech has only just left the gate, but has tons of promise as a way to shed lines and collect data — just the mix that sports facilities are looking for.
