The information you need to start your day, from PaymentsSource and around the web:
Token booth
Visa has added 28 acquirer gateway and technology partners to its token service, adding more scale as transactions move online during the coronavirus outbreak.
The partners include BlueSnap, Moneris, Spreedly and other firms that will be able to tokenize credentials on file to secure digital payments, creating a faster checkout experience for repeat visits. “These partners are force multipliers, rather than going merchant by merchant we can go to the acquirers and build faster,” said Brian Cole, head of product for Visa North America.
JPM's other coin
New York cryptocurrency platform Gemini has signed JPMorgan Chase as a client, with the bank providing cash management services and dollar-based transactions for Gemini's U.S. customers. JPMorgan Chase will use the Automated Clearing House to process transactions.
Gemini, co-founded by the Winklevoss twins, has been partnering with financial institutions to build a cryptocurrency network. JPMorgan Chase's activities in cryptocurrency include
The Gemini partnership marks an evolution for JPMorgan Chase for cryptocurrency. JPMorgan Chase CEO
Half time
Bitcoin's third "halving" took place this week, reducing the number of bitcoin in circulation. Each block in the blockchain now produces 6.25 bitcoins, worth about $55,000; instead of 12.5 bitcoins, or about $110,000.
The main near-term impact is less energy spent on mining, reports
That could be good news for merchants that have been on the fence about accepting bitcoin but have
Streaming gift
Twitch has added gift cards to bolster use of its streaming platform, which supports the broadcast of gaming, sports, music, entertainment and other crowd-produced and funded content.
The cards range from $25 to $200, with both virtual cards and plans for a physical card that will be available at Best Buy and GameStop.
The cards can also be used for "bits," or a virtual currency that supports creators. There's also a subscription option, which includes benefits for the user who funds a creator.
Football pitch
Fintech
Skrill acknowledges matches aren't happening now, and will likely not include spectators when they do
From the web
REUTERS | Tue May 12, 2020
Brazilian digital wallet PicPay hit 20 million clients in early May, reaching a goal previously expected for December as social isolation measures to combat the coronavirus accelerates the search for digital financial services.
TECHCRUNCH | Tue May 12, 2020
Modulr, the U.K. fintech that offers ‘Payments as a Service’ as an alternative to commercial and wholesale transaction banking, has secured £18.9 million in growth funding.
FORBES | Tue May 12, 2020
Instead of providing a charter for lending, the OCC could potentially offer a ‘payments charter’ that would be of interest to both traditional payment companies such as Stripe and PayPal as well as crypto companies, the new chief operating officer at the U.S. Office of the Comptroller of the Currency (OCC) has suggested.
More from PaymentsSource
Even before the coronavirus outbreak, cybercriminals were shifting their attention away from point-of-sale terminals — but the retail industry still absorbs the most attacks seeking to compromise databases or networks.
Lots of consumers are using mobile checking for the first time, so it's important to provide extra help, says Mitek's Michael Diamond.
PayPal would have never asked for a pandemic, but the rush from brick and mortar to digital that accompanied the coronavirus outbreak has played directly into PayPal’s digital core while making in-store physical payments less of a competitive factor.
Cross-border payment fintech dLocal is partnering with Canadian e-commerce company Shopify to enable small businesses to offer local payment methods in more than 19 currencies in emerging markets.
The new CEO of Green Dot has vowed to alter the company’s strategic course, saying the prepaid card issuer will rely less on promotional marketing of its traditional products and more on its banking license to drive profits.
In the works for months, Mastercard Track Business Payment Service rolls out Tuesday with the goal of improving efficiency around corporate buyer and supplier payments at a time when these processes are uniquely constrained by the coronavirus pandemic.
There are decades where it feels like nothing happens, and there are weeks where decades seem to happen. In just over 100 days, the coronavirus has swept around the planet, more than half the world’s population has been forced into lockdown, far too many lives have been lost and entire industries have shut down. A crippling global recession seems inevitable and a clear exit strategy, for now, remains elusive.
One in six adult Americans can’t pay all their bills in a given month. This dilemma is not limited to those with low incomes, either: Nielsen research found that one in four American families earning $150,000 or more annually is living paycheck-to-paycheck.
