Welcome to the new PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web:
Twitter says farewell to buy buttons: Twitter plans to discontinue its embedded payment function, as part of a broader pivot away from e-commerce. Techcrunch reports Twitter is sending notices to consumers that it's shuttering its sales channel, as well as its related partnerships. It will continue to offer a donate button for nonprofits. Twitter's buy buttons never generated much traction, according to Techcrunch, and the company is focusing on other web-related revenue streams. Twitter debuted its buy button in 2014 in partnership with Stripe. It later partnered with Shopify in an effort to reach more merchants.
24/7 faster pay gets closer in Europe: As the tech vendor line starts to form, the bank owned European Payments Council has invited 28 institutions to Milan to commence testing of the EU's faster payments system, which is designed to handle mobile payments and other digital transactions. Finextra reports the council has formed the SCTInst Scheme to oversee the project, which is planned to be in line with the ISO 20022 messaging standards that are guiding similar schemes around the world. The initial test is a demonstration of the new system with SIA, one of the faster payment initiative's technology partner. The system is scheduled to be online by the end of the year, and is supposed to provide real time processing at all times.
Ticketless train: London and the U.K have long been at the forefront of train ticketing and payment technology, particularly when it comes to shedding old school tickets and plastic cards. In a new project, Chiltern Railways, which runs lines near London, is partnering with SilverRail Technologies to test what amounts to contactless travel. IncentiveTravelUK reports travelers will use embedded smartphone technology to detect when the train has started moving, and will use Bluetooth to open ticket gates with customers automatically charged for the ride. The system also uses geolocation tracking to determine a customer's total journey, and then calculates the cost based on fare zones. Customers will also have access to an app with travel history, payment information and fares.
Fingerprint debit: Saudi Arabia's Al Rajhi Bank has deployed fingerprint biometrics to enable instant issuance of debit cards. The bank announced it has installed 100 Diebold Nixdorf terminals that enable consumers to apply their fingerprint to authenticate themselves, confirm their name for the card and execute printing. The terminals can also print checks and statements, and perform remittances. The bank is an early adopter of the technology, which is designed to add speed to instant card issuance, a key element in customer service as more financial services move to digital channels.
From the Web (powered by Wiser)
Analysts tip mobile payment market to hit $3T by 2022
Mobile World Live • Chris Donkin
The global mobile payments industry is set to be worth $3.39 trillion by 2022 driven ... The post Analysts tip mobile payment market to hit $3T by 2022 appeared first on Mobile World Live.
Payment Card Statistics for Europe and Eurasia – Yearbooks 2016-17
Payments Cards & Mobile • Alex Rolfe
In this business, we know you need to stay one-step ahead.
Daimler acquires bitcoin friendly digital payments company PayCash
SiliconAngle • Duncan Riley
German car maker Daimler AG has acquired PayCash Europe SA, a Luxembourg-based digital payments company that along with fiat money transfers also supports bitcoin. Founded in 2012,
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