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G7 Raises Concerns Over Facebook’s Libra

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What The Launch Of Facebook’s Libra Means For Payments

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The endless speculation over Facebook ’s plans to build a new set of global payments rails and launch a global cryptocurrency comes to an end today with the official launch of Libra. Or does it?

Regulators, Lawmakers Press Facebook For Answers On Libra

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News of the launch of Facebook cryptocurrency Libra has highlighted how the U.S. government will respond to the introduction of new digital currencies.

Apple Expands Apple Card Testing

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Apple has expanded the test phase of its credit card with Goldman Sachs to its retail employees, according to a report by Bloomberg.

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Mastercard Introduces True Name Card

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To address a major pain point for the LGBTQIA+ community, Mastercard is introducing the True Name card. The product will allow for chosen names to appear on the front of the card, according to news from Mastercard.

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Ripple Plans MoneyGram Investment Of Up To $50M

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In what could be one of the first investments by a crypto-based firm in a major U.S. firm that is publicly traded, Ripple Inc. has arranged to invest up to $50 million in MoneyGram International Inc. Ripple is the company behind the XRP digital currency, The Wall Street Journal reported.

POS Payments At The Speed Of Sound (Waves)

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Friction bedevils all types of retail — and that holds true for transactions inside stores or via eCommerce sites. At the same time, the ongoing effort to create true omnichannel experiences for consumers often runs into roadblocks of friction, frustrating merchants and consumers alike.

Open Banking Can Scale With Incentives And API Aggregation

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Open banking is nothing if not a lot of moving parts and complications. But could merchant incentives help fuel this ongoing effort at digital payments innovation?

Shares In Western Union Dip On News Of Facebook Crypto Libra

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Shares in Western Union have fallen on Tuesday (June 18) on the news that Facebook is going to release a new cryptocurrency called Libra , according to a report by CNBC. Western Union stocks fell 1.7 percent, making the company one of the worst performing ones on the S&P 500 index.

Target Says Weekend Outage Due To NCR Glitch

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Target faced a register outage that lasted for about 90 minutes on Sunday (June 16), which meant it couldn’t process cards or other forms of payment.

Cross-Border Efforts Ripple (Literally) Through Cryptos And Payments

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Facebook ’s cryptocurrency initiative grabbed its share of attention this past week, of course. The business model of offering the digital wallet Calibra to back Libra, and tie it all to real assets (along with the Libra Association), shone the spotlight on crypto’s role in eCommerce.

Xero, Stripe Team On Small Biz Payments

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Small business platform Xero has announced a partnership with Stripe to work on small business payments innovations. The companies will develop new tools that aim to help small businesses get paid faster in various ways while also gaining more visibility over their business performance.

Cybersecurity Turns To Crowdsourcing Amid Hiring Woes

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Cybersecurity is one of the main tasks in the world of digital commerce and payments, and it’s a task that is getting more attention from consumers, companies, regulators and others.

Uber Hooks Into FinTech To Expand Beyond Ride-Hailing

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Uber is expanding its services and moving toward providing financial products, according to a report by CNBC. The company has reportedly been hiring numerous product managers and engineers. Its new FinTech team could ultimately have more than 100 workers.

Who’s Responsible For IoT Security?

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Smart technology is what makes ordering by voice and remotely monitoring your home possible. Promising as intelligence of things (IoT) solutions are, though, security has been a stumbling block.

Amazon Eyes ‘Surveillance As A Service’ With Drone Patent

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To offer “surveillance as a service,” Amazon earned a U.S. patent for an “unmanned aerial vehicle.” It was granted on June 4 after its filing approximately four years ago on June 12, 2015, Quartz reported. An “unmanned aerial vehicle” is drone’s technical terminology, according to the report.

Thai Bank Walks Back On Ripple XRP Plans

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Thailand’s Siam Commercial Bank won’t be using Ripple’s XRP technology despite earlier announcements of such plans.

AML/KYC’s Data Confidence Crisis

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The last thing that anyone wants to hear in almost any financial organization is that the people tasked with risk management is feeling less than fully confident about their ability to actually do that job — because they aren’t sure if their data is good.

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7M Venmo Transactions Scraped To Warn Users

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A computer science student scraped seven million Venmo transactions to warn users that their public activity can still be stolen. Dan Salmon said he scraped the transactions over the course of six months to prove to users that they need to set their Venmo payments to private.

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Shopify Unveils AI-Powered Fulfillment Network

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Shopify, an eCommerce company, has announced a number of products and services meant to enhance merchant experience with the company, according to a report by VentureBeat.

Open Banking Co Token Receives $16.5M Investment

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Turnkey open banking platform Token has received a $36.5 million investment from a few investors, including Opera Tech Ventures , which is the venture division of bank BNP Paribas. Other investors include banks in the Middle East and Southeast Asia, according to a release by the company.

Bitcoin Surges On Libra News, But Nears Overbought Status

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The announcement of Facebook’s Libra has buoyed other cryptocurrencies, especially Bitcoin, which gained in the neighborhood of 12 percent this week, to $9,477.

UK Approves PayPal’s iZettle Acquisition

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With the United Kingdom Competition and Markets Authority’s (CMA) decision to provide final and unconditional approval of PayPal’s completed acquisition of iZettle, the digital payments company will start to integrate the teams and products of iZettle in the U.K. and around the world.

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How A Retail Incubator Could Produce The Next Big Innovation

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The myth of the lone (and possibly mad) scientist died out a long time ago, as the industrial age led to teams of researchers working together (or at healthy cross purposes) to enable innovation. Science and invention are collective pursuits.

Plaid Co-founder To Step Down

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William Hockey, co-founder, chief technology officer and president of Plaid , is leaving the company next week. However, he will remain on the company’s board of directors. This conclusion was neither a rash nor a recent decision,” Hockey wrote in a blog post shared with reporters.

Mastercard Bets On Biometric Cards To Advance Inclusion

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In early May, Mastercard , in partnership with SEDESSON, the Mexico state agency for social benefits, and Edenred Bank, announced a first-of-its-kind test in Mexico’s Sonora state – the first regional test of biometric card technology in national history.

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What Happens When Marketplaces Use Humans To Deliver Customer Service

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You know the old adage: a customer who has a bad experience with customer service does not need to be motivated to communicate with others about it. Quite to the contrary, that customer will be sure to tell as many people as they can get to listen to them on the subject.

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The Key To Open Banking? More Bank Participation

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It’s not just technology that moves the world. Culture plays a huge role — as well as the sparks that often come from the tension when cultures clash. That promises to be the case going forward with Open Banking, as financial institutions (FIs) pick partners and proof of concepts.

Why Global Gig Workers Like Local Payments

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By 2023, 73 percent of all offices across the U.S. will have remote workers that eschew the traditional commute to an office setting. Though they may work as far as the other side of the world, remote workers still expect the same level of security, trust and speed in payments.

Amazon Launches Card For Prime Users With Bad Credit

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Amazon is linking with Synchrony Financial to offer a new credit card for Amazon Prime members who have bad credit.

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Lost Pet Posters Get An Upgrade For The Digital Age

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The traditional method of finding a lost pet worked well enough.

Mastercard Launches Open Banking Platform To Further API Standards

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Lead, follow or get out of the way — that seems to apply to the rise of Open Banking, which promises more financial services innovation, along with greater financial transparency and flexibility.

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Trump Campaign Used Shell Companies For Ad Buys

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Truthout is reporting that the Trump 2020 campaign paid shell companies related to ad buyers who are part of a purported unlawful coordination plan with the National Rifle Association (NRA). The unreported ad buys were sent through a limited-liability organization called Harris Sikes Media LLC.

Russia Joins The Faster Payments Revolution

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The rise of faster payment systems has become a global phenomenon. In the past few years, several global markets have invested resources into developing payment systems and infrastructure that enables funds to be delivered in real-time and that operate on a 24/7 cycle. The U.K., the U.S.,

MoneyGram Partners With Canada Post For Digital Money Transfers

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MoneyGram and Canada Post have teamed up for a digital money transfer service that allows users to complete transactions at select Canada Post locations all over the country, according to a release. “To

CTFC Levels Charges In $147M Bitcoin Pyramid Scheme

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As bitcoin hovers around $9,100, as Libra may (or may not) give the marquee cryptocurrency a run for its virtual money, it’s worth noting what lies behind the wild price swings — especially the ones that have ramped prices from sub $4,000 levels in short order.

Mexico Blocks Walmart’s Plans To Buy Cornershop

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Mexican antitrust regulators blocked Walmart’s plans to buy delivery app Cornershop, according to a report by Reuters. Cornershop Co-Founder Oskar Hjertonsson said on Twitter that the officials stopped the deal earlier this month.

5G Isn’t The Only Digital Communication Game In Town

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The new 5G mobile network technology is getting its first deployments, but that’s not the only communications game in town. A technology that tracks lost scooters people rent could play a role in the coming years in digital retail and payments, at least going by recent reports.

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Diving Into The ‘Check-Replacement Cycle’

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Three percent of, well, anything is not a lot. It seems an especially low number when considering this stat: Only 3 percent of companies meet customer demands for instant business-to-consumer (B2C) payments. How about a bigger number, though equally disquieting?

Airbnb Is Cooperating With A Subpoena From NYC

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Airbnb is reportedly complying with a New York City subpoena that wants information about some of its listings, according to reports. The online housing marketplace is giving anonymized data on hosts and listings from the start of last year through Feb. 18 of this year.

PayPal, Google Give OCC’s Bank Charter The Cold Shoulder

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How The Z-Wave Alliance Is Balancing IoT Interoperability And Security

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Consumers have begun equipping their homes with many kinds of connected devices as they seek to add convenience to their lives. This presents problems for developers, who need to make sure that their products run both smoothly and securely.

The World Gets Its Libra Look — And Is Divided On What It Sees

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The world has gotten its first good look at Libra — Facebook ’s long-anticipated move into cryptocurrency and global payments.