4.10.18 Your morning briefing

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The information you need to start your day, from PaymentsSource and around the Web:

Apple and Ripple's merchant shortcut
Apple's trying to make it easier for merchants to support Apple Pay, a longstanding challenge for the mobile wallet, by introducing an API from Ripple, the blockchain developer that was an early supporter of cryptocurrency but has since diversified into digitizing traditional financial services.

Finance Magnates reports Ripple's Interledger supports multiple browsers, which will help Apple Pay reach new merchants through a standard application programming interface (API), an open source method merchants commonly use to add an e-commerce interface to their websites.

Learning about AML
HSBC paid about $1.9 billion in fines over money laundering lapses earlier this decade, and is turning to machine learning to comb over data and payment transactions to spot potential criminal activity.

The Financial Times reports the bank has deployed "big data" technology from Quantexa, following a test in 2017 which helped the bank halt potential payments tied to money laundering.

The technology analyzes unstructured data such as phone numbers and news reports alongside more traditional data such as payments and financial records. It uses machine learning to improve its ability and speed over time.

Banco Santander drafts payment vets for digital strategy
Former Amazon and NCR executives have joined Banco Santander to support a digital transformation across 10 markets.

The bank recruited Chirag Patel to be head of payments. Patel was formerly head of emerging payments and innovation at Amazon, and has also held payments-related jobs at Amex and Softcard.

Jose Resendiz has also joined Banco Santander as head of user experience and new ventures. Resendiz is the former head of global financial services solutions at NCR and also served as head of product management at Intuit.

A help desk that helps itself to money
ABN Amro and the Dutch government are driving a collaboration to thwart international payments fraud that uses a fake helpdesk to trick consumers.

Called "Helpdesk scams," the attacks involve someone contacting the victim from a country outside the Netherlands, claiming to work for a well-known technology company like Microsoft. They then use a variety of means to access the victim's computer and execute payments to an external location.

The collaboration also includes MoneyGram, Western Union, and Microsoft, which will share intel and preventative strategies to halt the crime.

From the Web

Department of Energy hosts competition to train cyber defense warriors
TechCrunch | Mon April 9, 2018 - From leaked passwords to identity theft, cybersecurity issues are constantly in the news. Few issues, though, are as important — or as under-reported by the media — as the security of America’s industrial control infrastructure. Oil rigs, power plants, water treatment facilities and other critical infrastructure are increasingly connecting to the internet, but often without the kinds of foolproof security systems in place to ensure bad actors can’t gain access or disrupt service delivery.

Facebook urged to make GDPR its “baseline standard” globally
TechCrunch | Mon April 9, 2018 - Facebook is facing calls from consumer groups to make the European Union’s incoming GDPR data protection framework the “baseline standard for all Facebook services”. The update to the bloc’s data protection framework is intended to strengthen consumers’ control over how their personal data is used by bolstering transparency and consent requirements, and beefing up penalties for data breaches and privacy violations.

Oyster cards, passengers’ privacy and data protection laws
The Guardian | Mon April 9, 2018 - Lauren Sager Weinstein, Transport for London’s chief data officer, explains what happens to its customers’ information. We take protecting the privacy of our customers extremely seriously.

More from PaymentsSource

Verifone sells to Francisco Partners in $3.4B take-private deal
Tech-focused private equity firm Francisco Partners is leading a take-private deal of Verifone Systems Inc., a world leader in payment and commerce solutions.

Why merchants won't care about the death of card signatures
The card networks recently admitted what consumers have long suspected—card signatures have become worthless for authentication at the point of sale. But that's not the end of this story.

Do B2B payments need their own Venmo? Bill.com takes notes
Bill.com has implemented a strategy to make B2B payments more like Zelle or Venmo, removing the same pain points that those P2P apps do for consumer payments.

Masterpass integrates into Phillips 66 app
The Masterpass digital wallet will become embedded into the My Phillips 66 app later this year, enabling customers to pay at the pump or in the convenience store.

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