9.20.18 Your morning briefing

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

Cashierless is getting real
Time is getting short for the myriad no-cashier technology developers to get their products to the market. Amazon is plotting to add thousands of Go locations over the next three years, a move that could place pressure on convenience stores and other quick service establishments.

And the cashierless concept is also taking hold in markets such as China, the U.K., and now India. Watasale has has developed a store which uses an Android app and QR codes to guide shopping, reports the TechPanda, noting the first store has opened on Kochi.

Consumers at Watasale sign in with an app, which shows a QR code that's an identifier to gain entry to the store. After shopping, consumers walk out without interaction and receive a bill on their phone.
Speak up
Westpac is expanding its mobile banking app to include Siri for Westpac, a feature that supports voice payments on iPhones.

The Australian bank joins other financial institutions and fintechs such as RBC, PayPal, Square and Monzo in enabling voice commands for financial services.

But voice-controlled payments are still relatively rare. That said, the growth of voice assistant devices in the consumer market portends an expansion of voice payments — giving Westpac a headstart in the Australian market.

Hack away
Newegg became the latest in a long line of retailers to suffer a credit card security breach, as hackers installed 15 lines of malicious code on its payments page.

The code remained on the page for more than a month, between August and mid-September, reports TechCrunch, which adds the electronics retailer is still investigating the scope and damage from the incident.

TechCrunch also reports on an unrelated incident in which hackers broke into Click2Gov servers to load malware that siphons payment card data for an undetermined amount of time earlier this year.

Wild west
A group of MPs are demanding the U.K. government regulate cryptocurrencies and ICOs, saying the market has become the "Wild West."

The Financial Conduct Authority has warned about ICO scams, but lawmakers are saying that's not enough and are calling for formal regulation, reports Reuters.

Parliament's Treasury Select Committee Nicky Morgan is leading the charge for tighter rules. Morgan earlier this year pushed Visa to disclose more information about a payment outage, a move that eventually led the card brand to discuss what parts of its ecosystem had failed and provide details on its redundancy project.

Mobile cash machines
ANZ is supporting mobile cardless ATM transactions, adding Apple Pay, Google Pay, Fitbit Pay and others.

The bank has more than one million consumers using its digital wallet, reports finder.com, which gives ANZ a readymade user base for the advanced ATMs.

Other banks such as Wells Fargo have also deployed cardless ATMs, a signal that mobile banking and payments technology is maturing.

From the Web

Crypto Pioneer David Chaum Says He’s Built a Better Bitcoin
The Wall Street Journal | Wed September 19, 2018 - The godfather of the cryptocurrency movement is back with a plan to address bitcoin’s biggest shortcoming: speed. David Chaum, who built his own digital currency more than a decade before bitcoin was introduced, is unveiling a new platform that he claims would allow digital cash to be traded almost as quickly as physical cash.

Singapore’s central bank calls blockchain ‘fundamental’ tech to change financial services
South China Morning Post | Thu September 20, 2018 - Singapore’s central bank is counting on blockchain, along with artificial intelligence, to serve as “fundamental” technologies that will help transform financial services, according to a senior official. Deep changes are expected from the adoption of those two technologies, according to Damien Pang, who heads the technology infrastructure office at the Monetary Authority of Singapore (MAS).

Five Reasons The Payments Business Is Ripe For Big Change
Forbes | Wed September 19, 2018 - The fintech revolution is changing the way banks and payments companies have won and retain customers. Traditionally, one institution could serve all of your financial needs. In the near future, business and consumers will interact with multiple companies in a more decentralized, technology-driven system.

More from PaymentsSource

New mobile security standard looks beyond smartphones
Stressing a need to address security in mobile payments and banking, ASC X9 has introduced a new standard — essentially part three of its wireless safety efforts, focusing on the management and security of mobile commerce implementations.

Blockchain will make a great contribution to donation payments
Charity is the way we, as individuals, can help improve our society for the better through the power of giving. By leveraging blockchain and crypto for philanthropic purposes, the technology has the potential to positively impact the charity sector in many ways.

PNC to use Ripple blockchain tech for international payments
The Pittsburgh bank joins Bank of America and other large financial players in a distributed-ledger network that seeks to make global payments in real time.

EMVCo picks up collaborators for EMV spec work
Participation by all members of the global payments ecosystem is encouraged through EMVCo's work to secure card-present transactions and incorporate broader applications.

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