10.1.18 Your morning briefing
The information you need to start your day, from PaymentsSource and around the Web:
The Canadian government has launched a committee on open banking to determine the benefits and challenges of easier data sharing among financial parties.
Similar to PSD2 in Europe, open banking would make it easier for technology startups to use consumer data to offer digital payments and other technology-driven services. At the same time, consumers would retain more control over how their data is used.
The Canadian committee includes representatives from the fintech community, law firms, banks and the MaRS technology innovation center in Toronto.
Google security exec joins Swift
Swift has named Julien Blanchez head of data analytics, a new job that covers Swift's global data analytics strategy.
Blanchez was formerly a global security and compliance strategist at Google, working ten years with teams in California and Europe to address cloud compliance and security.
He also held positions at SAP's global corporate strategy group in Germany, BARCO in Singapore and The Boston Consulting Group in Belgium.
Ithmaar Bank and Eazy Financial Services plan to launch a biometric payment network in Bahrain, supported by the Labour Fund Tamkeen.
The bank's consumers will use fingerprints at ATMs to initiate financial transactions, as an alternative to cards.
Visa's Ready for Transit program, a hub for transportation innovation and standardization, has gained support from Ingenico, which is developing a range of new payment terminals for transportation systems.
As part of the program, Ingenico will focus on contactless payments for ticketing platforms to accommodate security, payments and both closed and open loop payment systems.
Ingenico has recently deployed open payment transit systems in Milan, Kiev and Bratislava.
From the Web
Kenya’s Blockchain Task Force Advises Gov’t to Replace Cash With Digital Currency
CCN | Sat September 29, 2018 - The chairman of the Distributed Ledgers and Artificial Intelligence taskforce, Bitange Ndemo has advised the Kenyan government to tokenize its economy in order to deal with the increasing issues of corruption and uncertainty. Ndemo made known his opinion during a meeting between the Kenyan ICT ministry stakeholders and members of the private sector..
Is Square Chasing Workday Into the Mobile Payroll Market?
The Motley Fool | Sun September 30, 2018 - Square recently made its payroll services, which it launched in 2015, available as a mobile app. The app lets employers import time cards, enter hours, and submit pay runs, while Square handles the filing, paying, and withholding of payroll taxes.
Brazil payments processor Cielo struggles against upstarts
Reuters | Fri September 28, 2018 - Brazilian payment processor Cielo SA’s once fat margins have been decimated by rivals who lease or sell credit card terminals to merchants for a fraction of what the market leader has long charged. Now Cielo is fighting back, offering services such as inventory management and market intelligence tools to justify its premium pricing and retain its core payments clients, two sources close to the company said.
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