1.14.19 Your morning briefing
The information you need to start your day, from PaymentsSource and around the Web:
A German court has ruled Amazon's Dash buttons are in breach of consumer protections, leaving the product's future in the country up in the air.
A court in Munich ruled the Amazon Dash buttons do not provide enough information about purchases, reports TechCrunch. Dash buttons can order household items such as toilet paper and detergent; at issue was Amazon's practice of substituting similar — and sometimes pricier — items when the customer's intended purchase was unavailable.
Amazon told TechCrunch it plans to appeal the decision, but it did not say if it would stop issuing Dash buttons in Germany or change the underlying technology.
Shutdown chills fintech
The government shutdown may be having an adverse impact on the fintech market, as deals get delayed and government work on virtual currencies gets delayed.
The delays could be bad enough to hurt America's standing as the world's premier fintech nation, according to Chris Brummer, a Georgetown professor who published his findings on the impact of the dispute on fintech in Roll Call.
In the sand
The Wyoming house committee has approved a bill that would create a regulatory sandbox for blockchain related technology.
New Yapstone exec
Former Amazon Pay executive Kurt Bilafer has joined Yapstone as executive vice president and chief revenue officer.
Bilafer will be responsible for sales and marketing for Yapstone, a marketplace payments company that competes with Stripe and PayPal, and also serves sharing apps.
Bilafer has also served as chief revenue officer for WePay.
From the Web
Gambling on credit cards could be banned in overhaul of betting
The Guardian | Sat January 12, 2019 - The government is considering banning the use of credit cards in gambling – a move that would affect billions of pounds worth of bets a year. The culture secretary, Jeremy Wright, said he would haul bookmakers and major retail banks into meetings to discuss concerns that up to 20% of deposits with some gambling firms are made using money that consumers do not actually have.
Fraud fear prompts Bank of Ireland to restrict some debit cards
The Irish Times | Fri January 11, 2019 - Bank of Ireland has been forced to impose severe restrictions on many customers’ debit cards this week over fears they have been compromised by fraudsters. The bank declined to say how many customers have had restrictions imposed on their cards although the number does appear to be significant.
PNP: Passport data breach a threat to identity, national security
CNN | Mon January 14, 2019 - he heads of police and defense department have expressed security concerns over the massive passport data breach at the Department of Foreign Affairs. Philippine National Police Chief Director General Oscar Albayalde said the passport mess is not only a concern for all Filipinos with passports,
More from PaymentsSource
6 ways robots are replacing cashiers and couriers
Self-checkout was only the beginning. In today's high-tech, mobile-driven world, there's a heightened demand for making purchases quickly and seamlessly. And it's a demand that no human could possibly meet.
Square’s leadership exodus continues as payments chief leaves for Visa
Square just found a replacement for high-profile CFO Sarah Friar but is facing another big hole in its leadership team as head of payments Mary Kay Bowman leaves for Visa.
Ingenico closes Paymark acquisition, strengthening Pacific presence
Terminal manufacturer and payments technology provider Ingenico Group has completed its acquisition of New Zealand-based payments network Paymark.
AML enforcement needs more whistleblowers
Technology-driven systems aren’t enough to root out anti-money-laundering violations. Congress should consider creating a program that would encourage those with knowledge of illegal behavior to come forward.