The information you need to start your day, from PaymentsSource and around the Web:
Trouble for Amazon in the U.K.
The Competition and Markets Authority has temporarily halted Amazon's $575 million investment in food delivery company Deliveroo, contending the two companies are too close and as such could harm consumer choice.
The regulator has limited what Amazon-driven changes can be made at Deliveroo and says Deliveroo must operate as a distinct company under its own brand pending a preliminary investigation, according to
Contactless train
The trend toward
Manchester, U.K. is the latest system, adding an option to use contactless cards and mobile payment apps to enter the system without purchasing a ticket, reports
Manchester, which is collaborating with Visa to improve its ticketing and payment processes, is in the midst of a ten-year project to modernize its entire mass transit fleet to bring it in line with London's system.
New tech hub
Paytm has opened a research and development center in Montreal as the Indian company ramps up its expansion into Canada.
The lab will focus on machine learning and data management innovation to build payment products for use in Canada and other markets. The Montreal center joins an existing center Paytm opened in Toronto in 2014. The company plans to invest $50 million in Canada over the next decade.
Bad news for PSD2 compliance
Tink, a Swedish open banking platform, has found problems with another PSD2 deadline —this one a June deadline to make production APIs available.
The banks are being cooperative, Tink says, but the company warns contingency methods are likely necessary to meet the September deadline for strong authentication.
From the Web
The Straits Times | Fri July 5, 2019 - Food and beverage outlet operator Spize Concepts has been fined $20,000 by Singapore's privacy watchdog for the disclosure of customers' personal data on its online ordering portal.
The Motley Fool | Fri July 5, 2019 - Venmo has been hugely popular among millennials as a way to send money to friends, split a restaurant bill, or pay a roommate's portion of the utilities. For all of its success, though, payment processor Square is giving the company a run for its money, as downloads of its Cash App pulled ahead of Venmo last year and have continued to extend their lead.
The Wall Street Journal | Sun July 7, 2019 - Tesco is one of several grocers testing cashierless stores with cameras that track what shoppers pick, so they pay by simply walking out the door. The retailers hope the technology—similar to that pioneered by Amazon.com Inc. in its Amazon Go stores in the U.S.—will allow them to cut costs and alleviate lines as they face an evolving threat from the e-commerce giant.
More from PaymentsSource
Fraudulent attacks on accounts payable departments had been on the rise to begin with, but a new sense of urgency has taken hold in the wake of a recent incident that cost Facebook and Google $100 million.
E-commerce payments and fintech services provider PayU has acquired a majority stake in Southeast Asia online payment software company Red Dot Payment in order to expand into the Asian market.
Demand for contractor and small business billing apps has helped Toronto fintech Sensibill expand and attract funding.
BBVA has formed a partnership with Uber enabling the ride-hailing company’s drivers and delivery workers in Mexico to establish a digital BBVA debit account through Uber’s app.
