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:
Barclays goes headlong into AI, blockchain: Barclays has been a big player in emerging financial services technology, including contactless ATMs, wearable computing and new uses of the cloud to take cost out of tecnology development. It's now getting more aggressive by opening an innovation center in London that will place internal banking and technology experts alongside more than 40 startups. It will be among the largest cooperative working spaces in Europe and will conduct more than 200 hours of hackathons, workshops and other similar events each month, reports Finextra, adding the center is expected to create about 750 jobs. The London center is part of the bank's Rise initiative, which also includes innovation centers in New York, Manchester, Mumbai, Cape Town, Vilius and Tel Aviv that are designed to build cooperative services along with startups. One of the major current projects is the Barclays Accelerator, in which the bank seeks new innovation in blockchain, artificial intelligence and big data. Finextra also reports Barclays has entered formal engagements with a handful of startups as part of its accelerator and is spinning off an internal team as a separate company, Nivo, which offers mobile messaging. The startups include Simudyne, which offers risk management; Barac, which offers anti fraud services; and Flux, a digital payments company.
Car payments: General Motors is expanding its OnStar "connected car" collaboration with Mastercard to enable drivers to order and pay from inside their cars for ACDelco and other service parts, accessories such as Chevrolet Performance Parts, Maven car-sharing, OnStar guidance and other services. The OnStar gateway enables electronic credit and debit card processing. Mastercard and GM also collaborate on OnStar Go, a mobility platform that powers in-car payments for takeout and gas stations. The new service feature is available at more than 4,000 dealerships in the U.S. In a separate automotive tech deployment, Hyundai has developed contactless payment points on a car as part of a Stand Up to Cancer Fundraiser, according to Motor1. An all-electric Ioniq has been fitted with five contactless points on car that people tap to donate $6.50 or $13. The front and rear license plates are outfitted with digital displays that update after each donation. The donation car will debut May 22 at the King's Cross station in London and will tour the U.K. between May and November.
Amazon's closing Underground: Amazon plans to shutter Underground, a smartphone app and game program that compensated developers for time users spent with their apps. Amazon will stop accepting new software on May 31 and the download service will end sometime this summer, according to Arstechnica. Amazon Underground, which was seen as a threat to digital micropayments when it launched in 2015, gave access to a set of apps that would normally cost money to buy from Google or Apple's app stores. Amazon, which called Underground content "actually free" to distinguish it from games that were free to download but included in-app payments for internal content, removed the payment from the consumer for Underground. It instead paid developers a penny for every minute a consumer spent on the device. The idea was to entice gamers and other consumers who would normally balk at paying relatively small payments for "free" games. But the program had problems, according to Arstechnica, which reported compatibility is limited to Android devices, and had a limited range of content.
First Data takes on tech's gender gap: There's still a considerable gender gap in areas such as financial services and payment technology, a shortfall organizations such as Girls Who Code is trying to address. KKR has made an investment in Girls Who Code, and a companies in KKR's portfolio including GoDaddy and First Data will sponsor a technology education program this summer. The two companies will provide free instruction in web development, design, robotics and mobile development. First Data's program will be in Atlanta, while GoDaddy's will take place in Sunnyvale, Calif. "Similar to the financial sector, the field of technology is often lacking the kind of diverse workforces that lead to the highest performing teams, the highest performing cultures and the best business outcomes," said Ted Oberwager, a member of KKR’s Private Equity and TMT Growth Equity teams, in a release. “As the tech industry expands, companies increasingly need to integrate technology in order to succeed."
From the Web (powered by Wiser)
Global Payments Announces Support for Apple Pay in Taiwan
Global Payments Inc., a leading worldwide provider of payment technology services, is pleased to offer merchants in Taiwan the ability to accept credit and debit card payments via Apple Pay, which is transforming mobile payments with...
Now you can use Facebook Messenger to book your reservation at Vegas' Venetian
Los Angeles Times • Jay Jones
The Venetian on Tuesday becomes the first hotel in Las Vegas to offer bookings using Facebook Messenger, with help from a chatbot named Luis. Beginning at 9 a.m., the Venetian will allow potential guests to check room rates and obtain other information...
Bank data breaches are up, and it's an insider job
Business Insider • B.I. Intelligence
There have been many high-profile bank breaches in the news of late, and much of the blame has been laid on these institutions' legacy...
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