The information you need to start your day, from PaymentsSource and around the Web:
Playing catch-up
Despite
Called the Frog Pro, WeChat demonstrated the technology at a Chinese conference in an attempt to build its offline payments reach, reports
WeChat has been testing Frog Pro at thousands of retail locations. It trails rival
Envirocard
CaixaBank in September will begin releasing biodegradable cards, and plans to issue about 150,000 per year.
The bank is specifically targeting gift cards, which usually expire in two years, or the same shelf life of the biodegradable cards, which are made from materials obtained from corn starch.
Traditional plastic cards derive from oil and decompose over a period of 100 to 1,000 years, according to the bank.
Reaching out
Facebook has launched a bug bounty for its Libra cryptocurrency project, offering up to $10,000 to external developers who spot a security issue or another problem, reports
The move comes almost simultaneously as Facebook's
Facebook has faced almost constant pushback from regulators since announcing Libra, which has resulted in reports that the project's
QR train
Paytm has added QR code-based ticketing for the Deli Metro Rail Corporation's Airport express line, allowing riders to pay without being at the metro station. Riders instead enter the source and destination stations and make payments on their phones.
Payments in India are still largely cash-based despite myriad efforts to digitize transactions, and transit payments have served as a gateway to digital payments in other markets.
From the Web
YAHOO FINANCE | Tue August 27, 2019
Cryptocurrency lending and borrowing startup Cred has hired former PayPal executive as its chief financial officer (CFO). The executive, Joe Podulka, worked as head of finance for PayPal Europe and PayPal New Ventures during 2010-2014. Podulka also had a stint at eBay in his 20+ years of experience.
THE MOTLEY FOOL | Tue August 27, 2019
More people are downloading Square's Cash App than ever before. The peer-to-peer payments app hit a new record for monthly downloads in July, according to Instinet analyst Dan Dolev. Importantly, Square is consistently seeing more downloads per month than PayPal's Venmo, which popularized mobile peer-to-peer payments.
COINGEEK | Tue August 27, 2019
Globitex, a cryptocurrency exchange based in Latvia, became the first crypto firm to join the Mastercard’s Lighthouse Development Program (LDP). According to the announcement, Globitex received LDP membership joining the select few in the program, which was launched in 2018 by MasterCard and NFT Ventures.
More from PaymentsSource
CHICAGO — If the retail giants' Merchant Customer Exchange payments venture collapsed under the weight of trying to create a one-size-fits-all mobile wallet to bypass card networks, then the implosion of that joint venture was the best thing that could have happened.
BBVA Peru is the first bank to deploy a real-time mobile payments platform designed by YellowPepper, following Visa’s May 2018 investment in the Miami-based fintech.
A new study released by the prepaid issuer MetaBank finds that most consumers want businesses to use faster payment methods when sending them money for refunds, rebates and claim payments.
Just over a year after the EU’s GDPR came into force, we’ve reached a landmark moment: the first large-scale penalty has been announced, with British Airways facing a fine of £183 million (on the day the fine was announced, equivalent to just short of $228 million) for a data breach disclosed by the company in Sept 2018.
