The information you need to start your day, including top headlines from PaymentsSource and around the Web. In today's briefing:
Australia's banks are pushing harder than ever against Apple. They have submitted a formal statement to the Australian Competition and Consumer Commission slamming Apple's security-based argument against collective negotiations to access Apple Pay. Commonwealth Bank of Australia, Westpac Banking Corporation, National Australia Bank and Bendigo and Adelaide Bank, accused Apple of trying to piggyback on their investment in a national contactless infrastructure, while remaining "intransigent, closed and controlling" in dictating terms for Apple Pay. Apple faces a lot of pressure to win this battle in Australia, since other large markets such the U.S. could force similar concessions if the Australian banks get their way.
Fallout from 'Brexit' is hitting Misys, as the financial technology company is reportedly slashing the size of its approximate $7 billion IPO, expected to be the U.K.'s largest this year. The Sunday Times reports the financial technology vendor may cut its IPO by as much as 30%, citing market volatility from the U.K.'s referendum vote to leave the European Union. British citizens this past summer voted to leave the EU, a move that's expected to threaten the U.K.'s status as a hotbed for financial technology, as some companies move to the U.S. or other parts of Europe. The London-based Misys, a core banking vendor which is pushing wearable payment technology and has developed a broad-based gateway to support payment transactions in different channels, has also asked U.K. authorities for permission to sell 20% of the company in the offering, below the 25% normally required for an IPO.
PayPal founder Peter Thiel, who earlier this year stepped out of traditional VC activities to back pro wrestler Hulk Hogan's privacy lawsuit against Gawker, is donating $1.25 million to Donald Trump's presidential campaign. Thiel, who has also made a lot of recent investments in payments technology, is reportedly motivated to donate to Trump because the U.S. "needs fixing," according to the Silicon Valley news website TechCrunch. The New York Times reports Thiel will initially donate to super PACs supporting Trump, and will also donate directly to Trump's campaign. Thiel's support for the Apprentice host is against the grain in the technology industry, which mostly supports Hillary Clinton's campaign. Uber investor Shervin Pishevar is among Clinton's supporters, as is LinkedIn founder Reid Hoffman, who is running a crowdfunding campaign for veterans to pressure Trump to release his tax returns.
From the Web (powered by Wiser)
Companies Try Out Selfies as Password Alternatives
The Wall Street Journal • Trisha Thadani
Companies and government agencies—from ride-hailing service Uber and credit-card giant MasterCard to the Alabama Department of Revenue—are asking people to snap self-portraits on their phones as proof of identity.
Fertile ground for mobile wallets: Iraq
Hussein Kanber agha says his company has built a user friendly mobile wallet that will allow Iraqis to make payments using their mobile phones. In a country that is massively lacking in fintech options for the largely unbanked population, options like his...
Three-quarters of Brits use mobile banking
Computer Weekly • Computerweekly.Com
Europeans are rapidly taking up mobile banking which, combined with the adoption of contactless cards, is driving the digital payments sector
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