Morning Brief 6.24.20: 7-Eleven adds perks for voice and contactless payments
The information you need to start your day, from PaymentsSource and around the web:
7-Eleven has launched a fuel loyalty program that uses contactless payments and Siri voice commands with pilots in Dallas, Orlando and Virginia.
The feature is available on Siri shortcuts on the iPhone or the 7Rewards app. The chain is trying to encourage a contactless customer experience and is offering discounts for using the app and voice technology.
Gas stations are ramping up use of voice-enabled payments, with Exxon and Mobil adding Alexa voice transactions at stations starting earlier this year.
Telcos Vodafone Idea and Reliance Jio are blaming Paytm for phishing attacks, escalating the legal battle between the firms over payment fraud.
The telcos contend the scammers used victims' names, emails, transaction history and data, meaning the crooks had access to Paytm's platform, reports Economic Times in India.
Paytm sued the telcos over the payment attacks earlier this year, contending some consumers lost more than the equivalent of $13,000.
Signature Bank has launched its blockchain-based digital payments platform on the Fireblocks Network in an effort to improve management for digital assets.
The Fireblocks integration is designed to improve security and speed processing during settlements of cryptocurrency and traditional currency transactions. Fireblocks is a platform that powers moving, storing and issuing digital assets.
Signature recently added an API to help businesses and developers to connect with Signet, a tokenized representation of U.S. dollars that facilitates instant settlement.
Pharmacy ID and mobile biometric firm Ipsidy are partnering to build a digital ID for a network of more than 2,500 pharmacies in Australia that will also be interoperable for other purposes.
PharmacyID will combine its in-person verification with Ipsidy's facial "selfie" biometric and digital onboarding system to create an authentication method that will be available to ride-sharing apps and other merchants.
The combination could help advance digital ID in Australia by creating a way for different businesses to share the same authentication method.
From the Web
London fintech Curve to power Samsung Pay Card in the UK
TECHCRUNCH | Wed June 24, 2020
London fintech Curve is partnering with Samsung in the U.K. to power its forthcoming Samsung Pay card, which is scheduled to launch later this year.
Brazil suspends WhatsApp's new payments system
REUTERS | Tue June 23, 2020
Brazil’s central bank effectively suspended a newly-launched system allowing users of Facebook Inc’s WhatsApp messaging service to send money via chats, ordering Visa and Mastercard to halt payments and transfers via the system.
Singapore's Grab puts partnership with troubled Wirecard on hold
REUTERS | Wed June 24, 2020
Southeast Asian ride-hailing and payments company Grab said it had put a partnership with scandal-hit Wirecard on hold, days after the German payments firm disclosed a $2.1 billion financial hole that threatens its future.
More from PaymentsSource
VCs bet on digital payments to reopen the economy
Checkout.com’s $150 million funding round triples the e-commerce company’s valuation to $5.5 billion, and it follows an even larger $600 million bet on Stripe earlier this spring.
Small transactions are missing out on the contactless wave
To truly bridge the gap for moving small-dollar transactions to mobile and contactless, there are still vast areas of the retail industry that will need to adapt to accept cashless transactions.
Square’s withholding practice is an alarm for all payment facilitators
Square issued a corporate blog post Tuesday explaining why it has begun holding onto a portion of some sellers’ payments, demonstrating how liquidity shortages challenge the recovery for both businesses and the companies that process their payments.
Innovation at home: How Chase's wholesale payments team adapted to a pandemic
For a major bank, is it possible to be just as innovative — or even more so — when going fully remote? PaymentsSource executive editor John Adams talks to JPMorgan Chase's Tammy Petro about the unique challenges faced by the bank's wholesale payments business.
Trump’s latest immigration order reaches the payments industry
The Trump administration is accelerating its restrictions on immigration, including a ban on skilled workers that will make it harder for fintechs to hire people from outside the U.S.
Orka Pay launches early wage access for U.K. hourly workers
Orka Technology Group has launched a new earned wage access tool called Orka Pay for hourly workers to gain access to their wages between pay periods.
Mastercard to buy Finicity to improve open banking services
Mastercard has agreed to acquire Finicity for a reported price of $825 million, a move the card brand says will strengthen its open banking platform and expand financial services through more real-time access to data.
Fraudsters don't stand still. Neither should you.
It’s a relatively well-known fact that companies must evolve to meet customer demands. In parallel, fraudsters evolve too, continually adapting to new situations and technologies to steal from consumers and businesses.