2.22.19 Your morning briefing

Register now

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

Apple slice
Apple's card collaboration with Goldman Sachs is partly an effort to offset slower device sales, and is being accompanied by a similar move in China.

Apple is partnering with Alipay to offer two years of interest-free financing to buy newer iPhone models via the Alipay app, reports CNBC. The move requires a minimum purchase of about $600, which would cover the most affordable iPhones in China, according to CNBC.

Apple suffered a rare poor earnings report in its most recent quarter, partly due to lower iPhone sales — particularly in China. Digital payments have been a bright spot for Apple company.
Bad form
Crooks are installing malicious code on about 4,800 websites per month, exposing card numbers and hitting companies such as Ticketmaster.

Called form jacking, the hackers insert a code when sites fail to update, or when the sites access chat apps or other third party programs, reports the BBC, citing research from Symantec, which adds there were more than 3.7 million such attacks in the past year.

The code is small enough to go largely undetected, and allows attackers to view payment card information as it populates e-commerce sites. British Airways and Feedify are also among the recent victims of form jacking attacks.

Sri Lanka draws P2P tech
TerraPay has spent the past year building a cross-border payment network between India and countries in Europe and the Asia Pacific region, a strategy that should accelerate through a partnership with Pan Asia Bank.

The remittance company has added Sri Lanka through the partnership, enabling P2P, mobile payments and other transfers directly to all bank accounts in Sri Lanka.

Mastercard is also pursuing digital payments in Sri Lanka through a partnership with Dialog Axiata, a local mobile network operator.

Closing the breach
California Attorney General Xavier Becerra has announced a state bill that would add more elements to breach disclosure requirements.

State law currently requires disclosure for Social Security numbers, driver's license information, banking IDs, passwords, insurance and license plate images that have been compromised via a breach. The new bill would add passports and biometric data, which companies are not required to disclose when stolen, reports TechCrunch.

The bill also comes as e-commerce is introducing new forms of transferrable digital ID technology, which is designed to make security more flexible, but also extends the stolen credential risk as authentication comes from more sources.

From the Web

What Elon Musk's And Jack Dorsey's Surprising Bitcoin Comments Really Mean
Forbes | Thu February 21, 2019 - Bitcoin, which has been trapped in a long-running bear market for over a year, has been enlivened recently by comments from two of the most closely-watched figures in the tech world: Tesla's chief exec Elon Musk and Twitter's CEO Jack Dorsey.

Labour reports former MP Joan Ryan over alleged data breach
The Guardian | Thu February 21, 2019 - Labour has reported its former MP Joan Ryan to the Information Commissioner’s Office, though she strongly denies accessing party systems to contact members after resigning from the party on Tuesday to join the breakaway Independent Group.

Coinbase’s Brian Armstrong Says it’s Okay to Use Hot Wallets to Store Bitcoin
CCN | Thu February 21, 2019 - Brian Armstrong, CEO of $8 billion crypto exchange Coinbase, wants to set some misconceptions straight about the security of various types of Bitcoin wallets. Armstrong clarifies the difference between hot and cold wallets.

More from PaymentsSource

Apple Pay's rebirth gives Goldman a gateway to consumers
Banks and Apple Pay have not always had easy partnerships, but a hot market for co-branded cards gives Goldman Sachs a chance to advance its consumer ambitions and Apple an opportunity to offset slumps in device sales.

Revolut's CEO warns authorities about Brexit-triggered talent drain
Immigration restrictions are a threat to London’s status as a fintech hub, enough for Revolut CEO Nikolay Storonsky to demand the U.K.’s government take special steps to prevent the technology talent from going elsewhere.

Google's GDPR fine shows regulators are getting tough on data compliance
Google's recent GDPR fine is a wake-up call for data-driven companies, including payment companies, with operations in Europe.

Can PSD2 save the all-in-one card market?
The all-in-one card market has been a dead end for many years, with products like Coin, Swyp, Stratos and Plastc doomed to be mere footnotes in the history of fintech. Curve is determined to avoid the same fate, and it says PSD2 is its ticket to success.

For reprint and licensing requests for this article, click here.