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:
New CEO at Payveris: Payveris has appointed former Online Resources executive Ron Bergamesca as CEO. While at ORCC, Bergamesca led the technology company's banking division, which includes more than 900 financial institutions and 3 million users as clients, serving during a period in which the company's revenue grew to $160 million from $4 million. Payveris offers an application programming interface that allows financial institutions to embed payments into web banking, recently signing New York's oldest credit union as a client and partnering with Infosys to build a new bill payment platform. At Payveris, Bergamesca replaces Jeff Weikert, who has decided to pursue interests "outside the company," according to a Payveris press release.
Samsung changes payment rules to fight bribes: As it continues to navigate the fallout from the Note 7 recall, Samsung now faces new challenges stemming from a bribery payment scandal. As part of its recovery, the South Korean technology giant is tightening its internal payments policy. Engadget reports all corporate donations over about $880,000 will have to be reported to the company's board, and the details of the actual payments will have to be reported to South Korea's financial regulator, where the payments will be shared publically. That's much lower than the previous internal payment threshold for this level of transparency, which was about $600 million. The change follows the arrest of executive Lee Jae-yong, who allegedly donated $38 million to a friend of high-ranking company executives in order to help his rise through the company. Lee Jae-yong is in jail awaiting trial, which could take nearly two years.
Blockchain U: As universities begin to offer courses in financial technology, a blockchain research and development company is narrowing the curriculum further. Research development company IOHK and the University of Edinburgh have established a Blockchain Technology Laboratory within the university's School of Informatics. The lab will include students and academics, who will focus on matching blockchain to specific industry needs. Cryptocurrencies and transaction processing will be part of the subject matter, and students will have the opportunity to network as part of an effort to keep technology talent in the United Kingdom. IOHK previously opened a similar center with the Tokyo Institute of Technology, and the company plans to open additional centers in Greece and the U.S. later this year.
Loyalty cryptocurrency: A blockchain platform that's designed to encourage loyalty program uptake is launching a crowdfunding campaign. Finextra reports Chain of Points is offering a token sale, in which 21 million "points" will be offered over the next six weeks from a pool of 100 million points. These points are a cryptocurrency that can be used to transfer and redeem loyalty and rewards programs for merchants and consumers. The Toronto-based startup's blockchain technology will power transfers and track redemptions. The blockchain also enables the agreements between merchants and consumers to support a network of loyalty and marketing programs.
From the Web (powered by Wiser)
Is Facebook Inc. Copying Tencent?
Fool.com: The Motley Fool • Leo Sun
The social network looks like it’s following the Chinese tech giant’s lead in “super app” chat platforms -- but will those moves widen its moat against other tech giants?
Samsung Pay arrives in Malaysia
Samsung Malaysia Electronics today announced its partnership with several leaders in the banking industry.
Are alternative payment methods mature enough for broad adoption?
www.tnooz.com • Marisa Garcia
A lot of water has passed under the Golden Gate bridge since the travel industry began to discuss the mobile wallet war.
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