11.19.18 Your morning briefing
The information you need to start your day, from PaymentsSource and around the Web:
That includes transit, where Alipay HK will provide a QR-based payment program for Hong Kong Mass Transit Rail (MTR).
The payment system will commence in 2020 and will handle about 5.8 million daily trips via 91 stations, reports technode, which adds the deal will fuel Alipay and Alibaba's strategies to grow outside of mainland China and be part of Hong Kong's smart city initiative. MTR is testing the technology, which is designed to complete a scan and entry in one second with or without internet access.
More shade for bitcoin
Jamie Dimon was the first famous financial figure to slam bitcoin, but many other have followed.
In a particularly stinging rebuke, European Central Bank executive board member Benoit Coeure has called bitcoin the "evil spawn" of the financial crisis, but also referred to it as a "clever" idea, reports Coindesk.
Coeure, who said the underlying blockchain technology holds more promise, made the remarks as part of a speech marking the tenth anniversary of the collapse of Lehman Brothers.
Fintech in Copenhagen
Danske Bank and Danish financial services company Nykredit are supporting a fintech accelerator in Copenhagen to recruit developers to boost the local technology scene.
The project has selected startups in payments, insurance and mobile banking for the first class, which will run between December 2018 and June 2019.
The companies will receive about $100,000 in pre-seed funding along with training, mentorship, office space and resources from Microsoft, Amazon and Rackspace.
Swiss QR bill
Switzerland's QR-bill replacement for payment slips is getting closer to launch, as the government has release its latest alterations.
The QR code will hold data for a payment and can support smartphone bill pay, as well as instant correction of information based on data on file, reports Finextra.
Market infrastructure company SIX is supervising the project, which is expected to be complete by June 2020.
From the Web
Central Banks of Canada, Singapore and UK Propose CBDCs for Cross-Border Payments
CCN | Fri November 16, 2018 - The reserve banks of Canada, Singapore and the United Kingdom have singled out central bank digital currencies as being one of the solutions that can be implemented in order to solve the challenges encountered when making cross-border payments.
UK executives from Mastercard, Citi in Israel to scout out partnerships
The Times of Israel | Sun November 18, 2018 - Ann Cairns, vice-chair of Mastercard, is in Israel this week leading an investment and technology delegation with executives from the UK’s financial system. Mastercard sees the Israeli market as “a leading source for technological innovation,” UK Israel Business said in a statement, aiming “to create a collaborative infrastructure with Israeli companies” to provide new innovation and technologies for customers and businesses.
Vision Direct reveals breach that skimmed customer credit cards
TechCrunch | Sun November 18, 2018 - European online contact lens supplier Vision Direct has revealed a data breach which compromised full credit card details for a number of its customers, as well as personal information. Compromised data includes full name, billing address, email address, password, telephone number and payment card information, including card number, expiry date and CVV.
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