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Stifling competition?
The Competition and Markets Authority is investigating PayPal's $2.2 billion iZettle acquisition to determine the deal's impact on competition in the U.K.
The acquisition closed on Thursday, but the companies will operate separately until the CMA query is complete.
A similar CMA examination in 2017 caused
Equifax punishment
The
The fine, which was based on an incident that happened before new data laws such as GDPR went into effect, is the largest the ICO can issue.
Equifax told
Searching for a fight
Paytm is complaining to the Indian government about Google, contending the search giant is violating consumer privacy via its Google Pay app.
The Indian payment app alleges Google Pay accesses users' navigation, correspondence and other data for advertising and promotions, the
Google was also in the middle of a privacy controversy in the U.S. recently over an unannounced data collaboration partnership with
Echo chamber
As
The company announced 15 Alexa products in the span of 90 minutes,
There's a market for Alexa-controlled payments, given the growth of
From the Web
China Daily | Thu Sept 20, 2018 - The value of digitally influenced spending in emerging markets will approach $4 trillion by 2022, according to a report by the Boston Consulting Group. The report, titled Digital Consumers, Emerging Markets, and the $4 Trillion Future, said half of the population in emerging markets worldwide is now connected to the internet—a stunning increase from 2010, when fewer than a quarter of those in emerging markets were online, the report said.
Forbes | Thu Sept 20, 2018 - E-commerce is expected to gather pace in Latin America in the next few years and Brazilian online payments fintech EBANX wants to capitalize on the trend, by bridging the transactional gap between international businesses and consumers in the region. However, a large chunk of potential digital buyers in the region are excluded from traditional payment methods: according to the World Bank, almost half of Latin America remains unbanked.
The Wall Street Journal |Thu Sept 20, 2018 - Brex Inc., a startup founded last year to issue corporate credit cards to other startups, is in discussions with investors to raise a new round of funding at a valuation of about $1 billion, according to people familiar with the situation. DST Global is expected to lead the deal, some of the people said. Greenoaks Capital also is considering an investment, two of the people said.
More from PaymentsSource
Flipkart, an Indian e-commerce company which Walmart bought in August, has launched a cardless credit program for consumers and is expected to apply for an NBFC licence, or a classification as non-bank that provides credit and other financial services in India.
For businesses that serve a predominantly millennial audience, knowing the age group’s tolerance toward online security measures is an important lesson that coincides with customer retention, according to David Britton, vice president of industry solutions of global fraud and identity at Experian.
Amazon is reportedly weighing plans to expand its cashierless Go convenience stores to include up to 3,000 units by 2021 — but traditional convenience stores may not feel the effects as much as the fast food market.
Same-day ACH payments—introduced for credits in 2016 and debits last year—are gaining popularity with banks and corporations. The success prompted Nacha this week to approve new rules for these payments going into effect over the next two years. Speed and access for same-day funds will expand, and per-transaction limits will rise from $25,000 to $100,000.
