The information you need to start your day, from PaymentsSource and around the Web:
Taking no chances
U.S. operations will operate independently and will be rebranded as Omega, according to WorldFirst's release, though there was no mention of when transaction services will resume. Canadian operations are not affected.
Ant's earlier deal to acquire
Compliance clearance
Amazon is removing items from its India website to adhere to new regulations that restrict companies' ability to to make exclusivity deals with sellers and to sell through vendors in which they have an equity interest, reports
Numerous items from Cloudtail, an Amazon investment, were no longer available, as were Presto-branded cleaning products, Echo speakers and AmazonBasics products.
The new e-commerce investment rules are part of a wider crackdown in India against foreign companies taking a larger share of the local economy. Similarly,
Cashless kids
A mobile banking app called Step aims to serve young people who, despite the popularity of apps such as Venmo, still carry cash. Step, which opened its waitlist and referrals this week, offers checking and a Visa card that's both a debit and credit card, reports
Step, which was founded by former Gyft executives, plans to add more complex services in the future, such as college savings plans.
Cross-border sandbox
The U.K.'s wish to export its
The U.K.'s Financial Conduct Authority will chair the network, which will have 29 regulatory bodies and is seeking applications, reports
The companies will be able to develop payments, blockchain services and platforms that cover more than one jurisdiction with a lower regulatory burden.
At the box office
Sinemia is adjusting its debit card strategy to add more flexibility in the complex
The service is cutting some prices and allowing U.S., U.K. and Australian consumer to roll ticket allocations over from one month to the next, reports
The adjustments are available on Sinemia's debit card, which supports in-person tickets and avoids online processing fees.
From the Web
CoinGeek | Thu January 31, 2019 - The two largest mobile payment networks in China want nothing to do with crypto, and they are making this known. The two, Alipay and WeChat Pay, have allegedly sent legal letters to Huobi crypto exchange asking that it take their logos down.
TechCrunch | Thu January 31, 2019 - Coinbase is abandoning its conservative approach to the coins that it lists, while Binance — which operates on the opposite scale with support for a glut of tokens — has moved from being crypto-only to offer fiat currency options to customers. Support for credit cards is a major part of that, and it brings Coinbase and Binance into direct competition for the first time.
The Business Times | Fri February 1, 2019 - Digital cross-border payments firm InstaReM announced that it is joining Visa’s fintech fast-track programme in Asia Pacific. The programme makes it easier and faster for fintech partners to build and deliver new solutions on Visa’s payments network.
More from PaymentsSource
The U.S. has long lagged in contactless payment adoption — despite aggressive efforts to bring the technology to market years ago — but there’s finally signs of a turnaround as more consumers and merchants get on board.
Venmo is not a moneymaker for PayPal yet, but that's not stopping the online and mobile payments giant from dreaming big about where its P2P service is headed.
Featurespace wants to expand its fraud-fighting tool beyond its core audience of banks and payment processors to cover transactions across a broader industry spectrum including retail, gaming and insurance.
Often considered a rival to mass transit, Uber is inching closer to public transportation by embedding Denver's system for routes within its app, with the capability to purchase and use tickets coming soon.
