Morning Brief 9.28.20: Ant pushes blockchain project before its IPO
The information you need to start your day, from PaymentsSource and around the web:
Hoping to expand its relationships with small businesses, China’s Ant Group has introduced a blockchain trade and financial services platform ahead of its huge IPO.
Called Trusple, the platform will use smart contracts to execute payments, automatically updating information such as logistics and details about the transaction, reports Finextra.The process is designed to remove steps from processing and reduce tampering. Businesses can also use the blockchain to build a profile that can help obtain financing in the future.
Initial bank partners include BNP Paribas, Citi, DBS, Deutsche and Standard Chartered. The model is similar to Ripple, which powers transactions for small sellers, cutting costs such as correspondent banks through the use of a blockchain.
Digital marketing company ActiveCampaign has integrated with Stripe and PayPal, bringing transaction support to its mix of automated customer experience programs.
ActiveCampaign, which serves more than 100,000 businesses, helps its clients automate email marketing, CRM, messaging, text and chat. Adding Stripe and PayPal will allow businesses to use payment data to build marketing campaigns or other engagements tied to billing events in real time.
For example, businesses could trigger automated messaging when an order is created or when a charge is successful.
Hong Kong and Thailand have picked Ethereum workshop ConsenSys to support the two jurisdictions' cross-border central bank digital currency pilot.
The pilot will determine how a distributed ledger can improve cross-border payments between commercial banks using central bank digital currencies, reports Coindesk.
A successful test could boost the case for central bank digital currencies by demonstrating that different currencies are interoperable enough to move efficiently between different countries.
A few months after a well-publicized hack, Twitter reportedly discovered a bug that potentially exposed developers' private keys and account tokens.
The keys and tokens may have been mistakenly stored in the browser's cache on the user's computer, reports TechCrunch. Another user on the same computer who knew how to access the cache could view the keys and tokens. The developer's access token for their Twitter accounts may have also been exposed.
The July Twitter hack, which exposed accounts tied to famous people, was part of a social engineering scheme that targeted Twitter’s employees. Twitter told TechCrunch the new bug has been fixed.
From the web
SoftBank brings food service robot to labour-strapped Japan
REUTERS | Monday, September 28, 2020
SoftBank’s robotics arm said on Monday it will bring a food service robot developed by California-based Bear Robotics to Japan as restaurants grapple with labour shortages and a new socially distanced norm as a result of the novel coronavirus.
U.S. judge blocks Trump administration's ban on new TikTok downloads
REUTERS | Monday, September 28, 2020
WASHINGTON (Reuters) - A U.S. judge has temporarily blocked a Trump administration order that was set to bar Apple Inc and Alphabet Inc’s Google from offering Chinese-owned short video-sharing app TikTok for download at 11:59 p.m. on Sunday.
Over $150M Drained in KuCoin Crypto Exchange Hack
COINDESK | Sunday, September 27, 2020
The Singapore-headquartered digital asset exchange KuCoin said in a statement that it detected large withdrawals of bitcoin (BTC) and ethereum (ETH) tokens to an unknown wallet beginning at 19:05 UTC time on Friday.
More from PaymentsSource
Must faster payments come with faster fraud?
As the coronavirus pandemic has driven more people to work from home and shop online, the demands on digital, faster payment systems have been heightened — as have the opportunities for fraudsters to exploit them.
A lack of enthusiasm is slowing invisible payments' march
Invisible payments have already had a massive impact on the physical and online retail experience and could have the potential to eradicate cash and payment cards from the payment journey.
Historically conservative, newly polarized: Financial pros starkly divided over 2020 election
New research reveals Republicans and Democrats overwhelmingly believe a sweep on November 3 — by their own party — is the best outcome for the industry and the nation.
Electronic invoicing shouldn't be held back by its painful past
Deployments are much easier now, though some businesses still have memories of the complicated old days, says Nvoicepay's Doug Seaberg.
Greenlight reaches unicorn status as TTV co-leads $215 million fundraiser
Atlanta-based fintech Greenlight has raised $215 million in a Series C round and announced that it has achieved a valuation of $1.2 billion, giving it unicorn status.