4.15.19 Your morning briefing
The information you need to start your day, from PaymentsSource and around the Web:
A lighter touch
Apple has updated Touch ID and Face ID, which it uses to authenticate for payments and other functions, to ask users to confirm a subscription before executing the transaction.
The feature is designed to prevent accidental subscriptions through the App Store, reports Engadget, which adds that's a common problem because of the easy navigation.
It's not the first time Apple's biometric identity security has run into navigation trouble. Touch ID and Face ID provide identity security for Apple Pay, though Face ID has run into other usability issues, particularly for transit payments.
Klarna on SoHo
Swedish buy now/pay later fintech Klarna has been pushing to grow its presence in the U.S. for years, and is participating in Showfields, a retail space in New York's SoHo neighborhood that provides interactive displays and "experiences" for digital brands.
Klarna is collaborating with watchmaker Daniel Wellington to showcase new watch designs, which users can then pay for or finance via Klarna's payment app.
The two companies, which have an existing partnership, are hoping to improve the mix of online and offline retail.
A bank bails
SBI and Ripple's Money Tap transfer app project in Japan has lost Resona, one of the initiative's partner banks.
Resona will cancel remittances through Money Tap on May 13, reports Coindesk, adding the bank did not provide a reason.
The other banks on the project are Sumishin Net Bank, Suruga Bank and Resona. The banks use a distributed ledger and Ripple's xCurrent to support bank to bank transfers in real time.
Password tech draws VC funds
Hercules Capital has invested $30 million in Dashlane, a password and identity management company. Dashlane also added former Spotify and Gap CMO Seth Farbman to its board.
Dashlane has recently added new features such as dark web alerts and a VPN, reports TechCrunch, adding the company is attempting to become a broader identity management firm.
Dashlane is also a member of the FIDO alliance, which seeks to move beyond static identifiers. Dashlane supports YubiKeys for password management, a method FIDO recognizes as a password alternative.
From the Web
Contactless cards are just catching on in the US — years after the rest of the world
CNBC | Fri April 12, 2019 - The U.S. lags behind many countries in the world when it comes to making contactless payments. Contactless technology allows customers to pay by tapping their cards directly onto a store’s checkout terminal.
Venmo: PayPal's Secret Weapon
The Motley Fool | Sat April 13, 2019 - The company's number of active accounts had jumped to 267 million, a 17% gain, while transactions per active account had increased nearly 10%. In other words, more people were using PayPal's services more often than ever before.
Hackers publish personal data on thousands of US police officers and federal agents
TechCrunch | Fri April 12, 2019 - A hacker group has breached several FBI-affiliated websites and uploaded their contents to the web, including dozens of files containing the personal information of thousands of federal agents and law enforcement officers.
More from PaymentsSource
Restaurants warned of malware attack via internet of things
A hacker can infect multiple point-of-sale terminals with malware by entering through a "smart" coffee vending machine at a grocery store or restaurant. And the store owners are largely unaware of the risk.
How Mastercard, MercadoPago push contactless prepaid despite reluctant issuers
Mastercard and MercadoPago, the payments arm of Latin American e-marketplace MercadoLibre, see opportunities for contactless prepaid cards among unbanked consumers even though local issuers have been slow to adopt the format.
PayU buys Wibmo to expand in India
PayU is expanding its umbrella of payment companies in developing markets in a $70 million deal to buy Wibmo, a Cupertino, Calif.-based digital payments company that integrates with banks in 20 countries for payment authentication and security.
PFS prepaid adds Google Pay in U.K.
French card issuer Prepaid Financial Services has partnered with Google to allow its customers in the U.K. to add their prepaid cards to the Google Pay mobile wallet.