The information you need to start your day, from PaymentsSource and around the Web:
Going corporate
Fresh off of a deal with
Uber Eats for Business will enable companies to manage staffers' orders, enabling the ride-sharing app's food delivery business to counter GrubHub, Deliveroo and other apps, reports
Uber Eats for Business' features include geofencing an office to initiate orders at certain times and locations, spending allowances that bill staffers' cards for overages, meal ordering while traveling and recurring billing.
Mastercard's battle with India gets louder
Mastercard's battle with India's government has heated to the point where CEO Ajay Banga called out India's local data storage rules during
The card brand told the U.S. government in June that Prime Minister Narendra Modi was using "nationalism" to promote RuPay, India's national payment scheme,
The company has asked the U.S. government to propose that the Indian government's preferential treatment of RuPay coupled with other claims in pricing should be discontinued.
Covering more bases
The new integration can be executed with a few lines of code and will be available at "millions" of retailers, Braintree contends.
Braintree has also expanded its technology to support a variety of
Green light
New York state regulators have given a virtual currency licence to Coinsource, which operates a bitcoin ATM network.
The approval will make Coinsource the only bitcoin ATM operator in New York with the state approval, commonly known as a "BitLicense."
ATM danger
Crooks are breaking into ATMs in California and reprogramming them to steal money.
The crooks are using a communications vulnerability between the wireless modem and ATM terminal, causing the ATM group to suggest operators use SSL encryption to protect machines.
From the Web
The Irish Times | Thu November 1, 2018 - Monzo, a UK-headquartered digital-only bank whose backers include Stripe, has officially become a so-called “tech unicorn” after securing £85 million (€96.5 million) in funding. The latest fundraise for Monzo, which earlier this year obtained passporting permission to allow it operate in the Republic, values the company at £1 billion.
Business Insider | Thu November 1, 2018 - Hong Kong is taking steps to provide a friendlier environment for cryptocurrencies, with a proposal for a regulatory "sandbox" — a space for startups to experiment and innovate without costly, sometimes crippling, regulation. The move resembles two-year-old UK program that Britain's regulators have hailed as a success, and is perhaps plays a part in the UK's dominance as a global fintech hub.
DealstreetAsia | Thu November 1, 2018 - Across most of Asia, people pay for taxi rides, restaurant meals and merchandise with smartphone-readable barcodes — except in Japan, where cash is still king. Now, as the country’s biggest web companies race to dominate the payments market, one Tokyo-based startup says it has a fighting chance to win with its QR app.
More from PaymentsSource
As mega data collaborations among multinational companies threaten to dominate payment technology, developers are digging even deeper into decentralized models as a workaround to sell both greater data analysis and more security.
Ant Financial’s push to expand global acceptance of its Alipay mobile wallet to wherever Chinese tourists go continues in Australia through Tyro, a fintech payments operation that obtained a banking license in 2015.
Paya has acquired Stewardship Technology, a Mount Vernon, Ohio-based payments facilitator primarily serving churches and nonprofits.
Mastercard’s latest blockchain patent might be its most ambitious to date and, in theory, could help banks better protect themselves against fraudulent transactions that occur in traditional payments.
