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:

Location, Location, Location: Snapchat has sometimes dabbled in payments and commerce, such as building its SnapCash P-to-P system on top of Square's technology back in 2014, and it is reportedly taking a deeper dive by acquiring a location analytics platform. SnapChat has spent more than $200 million to buy Placed, a Seattle-based startup with more than 100 employees, according to GeekWire. Placed tracks consumer behavior to determine how advertising spend translates to in-store sales and how Amazon "showrooming" affects brick-and-mortar shopping; by joining SnapChat, Placed's location technology can enhance the new Snap to Store tool, which serves a similar purpose of tracking ad campaign effectiveness at physical retail stores, the article states.

Shapchat's ghost logos
Snapchat's ghost logos Bloomberg News

Apple's buried news: Apple drew a lot of attention at its annual Worldwide Developers Conference by announcing P-to-P payments and other upgrades, but a few upgrades didn't make it into the company's hours-long presentation. For example, Apple is finally adding support for QR codes on iOS devices, according to The Verge, which suspects QR code reading will be built into the default iOS camera app. QR codes are used by many mobile wallet apps (but not Apple Pay); though considered an older technology, QR is used prominently in several recently developed mobile payment and loyalty efforts from JPMorgan Chase, Alipay and Facebook.

Amazon's big push on the small screen: Amazon has already embedded its payments technology into everything from video-enhanced versions of its Echo speakers to major appliances, and yet there still seems to be more turf for it to take over. The e-commerce giant's latest move takes it to more TV screens, with an Amazon Fire TV app that lets viewers browse items from Amazon's website, TechCrunch reports. Oddly, the Fire TV app isn't as feature-rich as the Apple TV version that Amazon published in December, the article notes; voice search on the Fire TV version is limited to digital content, whereas the Apple TV version allows full search via Siri.

Metadata matters: Encryption is vital to protecting sensitive personal and corporate data, however it can also present an obstacle to law enforcement investigations. But encryption isn't everything, according to Apple CEO Tim Cook. Encryption "doesn’t mean no information. Metadata exists and that’s very important for building a profile," Cook told Bloomberg News, explaining how Apple was able to aid U.K. law enforcement agencies without compromising Apple's own security standards following the recent string of terror attacks. Apple has previously pushed back against law enforcement requests to weaken or bypass its encryption, and this new development doesn't indicate a change in policy, Cook added. "In cases when we have information and they have gone through the lawful process we don’t just give it but we do it very promptly," Cook told Bloomberg News. Apple's security came under its harshest scrutiny back in 2014, just ahead of the launch of Apple Pay, when its iCloud service was implicated in a massive leak of intimate photos of Jennifer Lawrence, Kate Upton and other celebrities.

From the Web

Alibaba’s Fight for Data
The Wall Street Journal | Mon Jun 5, 2017 - The e-commerce giant’s recent flap with a big delivery company points to its insatiable need for customer information.

Why our credit cards keep getting hacked
USA Today | Mon Jun 5, 2017 - Time and money, say experts. It takes time for companies to rebuild point of sale systems more securely and shift from magnetic stripe credit and debit cards to more secure chip cards. They need money to hire tech staff to secure those networks, money to buy software to do the securing and money to buy new, encrypted point-of-sale machines.

The Durbin amendment: The ultimate double whammy
The Hill | Mon Jun 5, 2017 - The Financial CHOICE Act, which begins to untangle the web of harmful rules that Dodd Frank put in place, is likely to pass the House this week. That’s very good news for community banks and credit unions, but it doesn’t mean Congress’s work on financial reform is done.

More from PaymentsSource

Two providers craft a single API for cross-border payments
Amidst all of the complexities that e-commerce businesses have in completing or accepting cross-border payments, PayU says the application programming interface (API) can make the biggest difference.

Audits, RegTech can close gaps in risk, onboarding
As payments get more complex, money laundering and other risks increase. Audits and advanced regulatory technology can help companies keep up, writes Performline CEO Alex Baydin.

Apple makes iMessage the heart of its P-to-P strategy
Apple formally announced the debut of its rumored Venmo-like P-to-P service, and as with anything Apple-related, it's deeply embedded into the overall Apple ecosystem.

Walmart’s Seinfeld-esque scheme to battle Amazon
Walmart is piloting a delivery program that leverages its store staff as delivery drivers in a decidedly manual response to the digital threat of Amazon.com. And it just might work.

Over 6 billion chip cards issued worldwide, EMVCo says
By the end of last year, the number of EMV chip cards in global circulation had increased by 1.3 billion from 2015 to a total of 6.1 billion, according to EMV standards body EMVCo.

Daniel Wolfe

Daniel Wolfe

Daniel Wolfe is editor in chief at PaymentsSource and a contributing editor at American Banker.