Welcome to the PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web:
Alipay gets another ticket to America: Mobile payment and marketing platform is collaborating with Alipay, Ant Financial's popular payments service, to allow North American merchants to accept Alipay for travelers. Citcon will provide its mobile point of sale technology, API and software for bot online and offline payments, marketing and analytics. China's Alipay has been lining up partners to expand to North America. It recently collaborated with First Data and Verifone to extend acceptance at payment terminals, and is also expanding availability at U.S. airports through a partnership with travel retail company DFS Group.
Disaster giving: Mobile technology has proven useful in powering fundraising transactions, and Hyperwallet hopes to take the model a step further by hosting a hackathon to spot ways to speed payments processing for charitable giving, particularly after a disaster. Visa is "supporting" the hackathon, which will take place on Tuesday, March 14, 2017 in Austin, according to a release form Hyperwallet. Developers will use Hyperwallet's sandbox and API integrations and the Visa Direct network, and will have eight hours to complete solutions. Executives from Visa, Hyperwallet and HomeAway Software will judge the competition, which will offer cash prizes.
Prep for Chatbots: Payment companies are rapidly embracing chatbots, and there's signs that's a good idea as the next generation is using chatbots extensively. Nearly two thirds of U.S. consumers aged 18 to 34 have used a chatbot for shopping, according to merchant technology company Retale, which also found that nearly three quarters of the same demographic is interested in using branded chatbots. Also, 71% of the 500 millennials Retale polled said they are interested in using chatbots from consumer brands, while only 18% said they are not. The biggest problem young people have with chatbots is accuracy. Retale reports 55% of respondents said they are frustrated with chatbots' inability to "understand" what the user is looking for.
Brexit plaza: The fallout from last year's Brexit vote on the financial services and technology industries is getting more tangible, or perhaps speculative, depending on the perspective. Amid reports that fintech companies, payment startups and financial institutions are leaving the U.K., Paris is creating space. Finextra reports Parisian developers plan to build more than a half dozen new skyscrapers over the next half decade in anticipation of picking up business in these industries from London. The buildings, which will total about one million square feet, will include flexible working spaces designed for technology development and other space suitable for financial services companies. The development will be focused near La Defense, the city's business district.
From the Web (powered by Wiser)
Kenya's been schooling the world on mobile money for 10 years - CNET
CNET • Katie Collins
The country's successful mobile banking and payments initiative M-Pesa turns 10, while the rest of the world plays catch-up.
Santander among more than 40 banks, credit unions added in latest US Apple Pay expansion
AppleInsider • Josh Levenson
Apple Pay has today gained support from more than 40 new banks and credit unions in the U.S., including Santander Bank, inching the total of participating nationwide card issuers closer to 2,000.
40 Years Ago: Electronic Money Is Too Easy
MIT Technology Review
In 1977, a writer worried that people might lose control if cash went away and transactions went digital.
More from PaymentsSource
Going digital in Germany, where cash is king
How much do Germans like cash? Consider the following common German phrase: "Geld stinkt nicht," which roughly translated means, "money doesn’t stink."
Contextual commerce sputters without deep consumer ties
Every business that uses apps or online platforms to connect with customers knows there’s a major transformation underway in how you do business.
Ant Financial buys stakes in Kakao Pay and Mynt
China’s Ant Financial, an affiliate of Alibaba, is continuing its acquisition spree by purchasing stakes two digital payments firms, including South Korea’s Kakao Pay and the Philippines’ Mynt.
PayByPhone launches Apple Pay for Vancouver drivers
Canada-based PayByPhone has enabled Apple Pay for drivers in Vancouver, where the parking payment provider keeps its headquarters.