Tag: payments
LONDON (Reuters) – American Express has introduced instant blockchain-based payments using Ripple, a fintech start-up, for U.S. corporate customers sending funds to UK-based businesses that bank with Santander UK, the companies said on Thursday. American Express said its FX International Payments (FXIP) business had partnered with Ripple to provide real-time, trackable non-card payments from the […]
(Reuters) – Payments company Square Inc said it has started allowing select customers to buy and sell bitcoins on its Cash app, as it looks to tap into a craze that has sent the cryptocurrency up nearly sevenfold this year. For the most part though, institutional investors have stayed away from bitcoin, the original and […]
News highlights for 10 October 2017 UK wants to charge social media levy to keep users safe LONDON (Reuters) – Britain will publish a formal proposal on Wednesday for a levy on social media firms and internet providers to help fund its online safety strategy, designed to tackle bullying, abuse and other risks for children […]
The Chinese were first with the great transition from commodity money to paper money. They had the necessary technologies (you can’t have paper money without paper and you can’t do it at scale without printing) and, more importantly, they had the bureaucracy. “In 1260, Genghis’ grandson Kublai Khan became Emperor and determined that it was […]
SHANGHAI (Reuters) – Diners at a KFC store in the eastern Chinese city of Hangzhou will have a new way to pay for their meal. Just smile. Customers will be able to use a “Smile to Pay” facial recognition system at the tech-heavy, health-focused concept store, part of a drive by Yum China Holdings Inc […]
Payments used to be a banking business. Now it is not, and the interests of the banks and the payments industry are no longer wholly coincident. The banks don’t own Visa and MasterCard any more, kids using Venmo neither know nor care whether it is a bank or not and there are plenty of non-bank […]
(Reuters) – Private equity firms Blackstone and CVC Capital Partners joined a rush to snap up payments companies on Friday with a 2.9 billion pound ($3.7 billion) bid for Paysafe Group. Britain’s Paysafe, which offers pre-paid cashcards and online wallets, said separately it was also planning to buy Merchants’ Choice Payments Solutions for $470 million, […]
LONDON/NEW YORK (Reuters) – A London-based startup has joined up with Mastercard Inc to launch a payment card that allows users to retroactively choose a different credit or debit card for a purchase they have already made, in what they called “financial time travel”. Starting Tuesday, Curve will offer customers the chance to “go back […]
NEW YORK (Reuters) – The U.S. banking industry is about to launch its answer to the popular mobile payments app Venmo, in what is likely to be the biggest change in years in how individuals exchange funds digitally. Over the next week, five of the largest U.S. banks will light up their segments of a […]
A payment scheme isn’t just a data switch that connects consumers, banks, merchants and retailers. If it was, there wouldn’t be any, because we’d all just use the internet instead. There are rules that need to be in place to make a scheme work in the mass market, to protect the participants and to fairly […]
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