The information you need to start your day, from PaymentsSource and around the web:
Trade jitters
The
The problem isn't going away, as this week the Trump administration has considered further moves. The administration considered banning Huawei from the U.S. financial system, according to
Trump has also threatened "100% tariffs" on certain French goods such as wine, reports
ATM retreat
ABN Amro has emptied and shuttered 479 ATMs following a spike in attacks in which crooks used explosives to access machines and steal the cash inside.
That's more than half of the bank's ATM network of about 800 machines, reports
The average loss per attack is about $35,000. Most
APAC partner
Visa has added Episode Six as a fintech partner in the card brand's Fast Track Program in Asia Pacific, which is designed to accelerate development by
Episode Six, which has more than 500 APIs to connect financial institutions to technology platforms, has implemented Visa Direct and Visa's Token service. This adds to other recent moves Visa has made to ease connections with fintechs, such as its
Visa and Mastercard have both expanded their outreach to fintechs to create a "
Credit unions in real time
The Corporate America Credit Union has become a funding agent for The Clearing House's Real Time Payments Network, providing the RTP project with access to nearly 500 credit unions.
CACU will allow member credit unions to use the RTP network at a discount, and will fund and manage positions in the RTP's Federal Reserve Bank account on behalf of its member credit unions.
In a related move, CACU has partnered with VSoft, a financial technology company that has expertise in faster payments.
From the web
FORBES | Tue December 3, 2019
The payments industry is a dynamic and fast-moving environment. While that’s a good thing, it also means there’s a disconnect between the pace at which we develop new technologies and how well we can manage and reconcile them with industry policies and practices. For institutional forces, keeping a competitive edge in the space demands a broad reach to effectively manage payments in a global marketplace.
THE STRAITS TIMES | Tue December 3, 2019
OCBC Bank is well placed to take on Chinese technology giants that are looking to join Singapore's digital banking market, its top executive said. The entry of such firms would constitute "extended competition but not necessary new competition", chief executive Samuel Tsien said, when asked about the threat posed by companies such as Mr Jack Ma's Ant Financial Services Group.
YAHOO FINANCE | Tue December 3, 2019
Black Friday has become an increasingly cyber affair, with annual blowout sales migrating away from brick-and-mortar toward consumers’ mobile devices. Data released in the rush of post-Thanksgiving rush of retail buying highlighted the growing power of mobile applications and web-based sales. Payment and financial technology firm Fiserv said that brick and mortar sales rose 4.2% on Black Friday compared to 2018.
More from PaymentsSource
PayPal broke through some major acceptance barriers a few years ago by separately negotiating with Visa and Mastercard for network inclusion and interoperability, but that alone wasn't enough to make PayPal a power at the point of sale.
First Horizon Bank has chosen to utilize FIS’ Relationship Rewards white label solution to provide faster rewards payouts that focus on the entire bank-customer relationship and not just individual transactions.
Apple has launched its contactless Apple Pay Express Transit Mode, which does not require authentication such as Touch ID, for the Transport for London (TFL) mass transit services.
Asia's lone payments association has agreed to work with financial innovators to promote the benefits of an API platform that would serve the continent's payments community.
