The information you need to start your day, from PaymentsSource and around the web:
E-mail supermarket
Verizon Media and Walmart have teamed up to support online grocery orders and purchases through Yahoo Mail. The feature builds on Grocery View, an app Yahoo Mail launched in 2019 that shows incentive marketing at local grocery stores.
In this case, shoppers use Grocery View to spot items at a local Walmart, fill a cart and complete their order for pickup.
Walmart recently entered a similar partnership with
ATM attacks
Diebold Nixdorf says there's a new type of ATM attack that is of particular risk in Europe, where it has distributed a warning to banks.
It's a type of black box attack that focuses on gaining access to outdoor machines, then plugging the black box directly into the ATM, reports Finextra. That's more sophisticated than traditional black box attacks, which attach a device to ATMs to infiltrate the machine.
Diebold Nixdorf is investigating how the parts to pull off the new attack were obtained, saying it's possibly an offline attack against an encrypted hard disk. It's also unclear how much was stolen. Diebold just won a contract to manage ATMs for
Crypto teammate
PayPal has reportedly selected blockchain and cryptocurrency firm Paxos as a partner for its pending cryptocurrency project.
Paxos will manage trading and storage for PayPal, which has not yet formally announced or confirmed its plans for cryptocurrency, reports
Could have been worse
Crypto exchanges Coinbase, Binance, Gemini and Kraken reportedly prevented more than 1,100 users from sending bitcoin to the hackers who attacked Twitter last week.
The exchanges blacklisted the hackers' wallet address, saving about $280,000 worth of transfers, with Coinbase accounting for most of the flagged transactions, reports
The
From the Web
REUTERS | Mon July 20, 2020
Chinese Starbucks customers can order the coffee chain’s drinks on Alibaba’s Taobao marketplace and mobile map app Amap, the companies said on Tuesday, expanding a partnership signed in 2018.
REUTERS | Mon July 20, 2020
Brazil’s central bank will authorize a payments system involving Facebook Inc’s WhatsApp messaging service, to send money and make payments via chats, as long as all rules are respected, director Joao Manoel Pinho de Mello said on Monday.
TECHCRUNCH | Mon July 20, 2020
Dumpling, a startup in the food delivery space, was born to challenge the status quo in the gig economy by giving more ownership to the workers that power it.
More from PaymentsSource
By boosting digital payments and mobile experience, issuers can turn routine transactions into meaningful interactions, says Entersekt's Simon Rodway.
The pandemic has created a digital divide of sorts among fintechs: Payments companies and challenger banks have risen to the challenge of increased demand, while online lenders and others have struggled because of disruptions to their businesses not unlike those at more traditional companies.
Ant Group is planning one of Asia’s largest IPOs while the world’s afflicted by a global pandemic, political turmoil and historic economic stress. Despite the chaos — or perhaps because of it — the timing could be right for Ant to challenge the global order in e-commerce and digital payments.
There was a time when a high credit score provided lenders with an increased level of confidence that the creditor will repay future debt, but given the growing number of newly unemployed and failed businesses in the post-COVID-19 environment, credit scores may no longer be indicative of the consumer’s ability to make payments or fulfill their debt obligations.
Mastercard is stepping up its involvement with cryptocurrencies by inviting digital payment operators to launch crypto cards through its platform, beginning with U.K.-based Wirex.
Securities laws, in spite of their shortcomings, exist for very good reasons: To regulate the fair exchange of units of ownership, to protect individuals from fraud or exploitation, and to identify bad actors and hold them accountable.
Merchants finally have a range of alternatives to accepting payment cards in Europe, thanks to open banking initiatives. But switching to instant payments is no easy decision, even if it's cheaper on paper.
Before COVID-19, cash usage at the point of sale was already on the decline, prompting a brief clash between retailers and governments over the requirement for cash acceptance.
