8.24.18 Your morning briefing
The information you need to start your day, from PaymentsSource and around the Web:
The restaurant chain reports unauthorized access took place between Nov. 3, 2017 and Jan. 2, 2018, during which hackers obtained payment card information in 23 states.
Cheddar's hired a third party cybersecurity firm, adding the afflicted network was disabled and replaced by April 10, 2018.
Swift's plans to support faster payments in Asia is moving ahead with a pilot in Australia, China, Singapore and Thailand.
ZDNet reports the banks will use the New Payments Platform, which enables transfers in near real time through an email or phone number rather than accounts—similar to a P2P app such as Zelle.
The platform is also designed to use existing payment systems to help banks avoid IT investments in new cross-border transaction infrastructure.
Watching the park
Apple is using charitable donations to boost usage of Apple Pay and Apple Watch through a program that donates a portion of Apple Pay and Apple Watch payments to national parks.
Unlike the mobile payment apps that support charitable transactions as a consumer habit changer, Apple's approach is more subtle, pushing payments for regular goods as a way to get consumers to use the mobile and wearable channels more often.
The campaign coincides with the 50th anniversary of the Redwood National Forest.
Fresh off of adding Ripple to boost its international payment profile, London bitcoin wallet Wirex has received an e-money license from the U.K. government.
Coindesk reports the licence, from the FCA, permits the company to process payments in the European Union.
Wirex is seeking similar licenses in Singapore and Japan.
From the Web
Deutsche Bank takes minority stake in payments fintech ModoPayments
Financial Times | Fri August 24, 2018 - Deutsche Bank invested an undisclosed sum into US-based fintech company ModoPayments, acquiring a minority stake in the start-up that develops payments solutions for smartphones. Deutsche on Friday said the deal would help to expand digital payment solutions both in the business-to-business and the business-to-consumer spheres, extending payments to non-banks like Alipay, PayPal, M-Pesa and WeChat.
What A No Deal Brexit Could Mean For Fintech
Forbes | Thu August 23, 2018 - Today, Brexit Secretary Dominic Raab discussed his plans for what has been dubbed as a no deal Brexit and suggested that Britons who are visiting the European Union could face extra credit card charges once Article 50 is triggered. While ministers said that a deal is more than likely to be made, the cost of card payments will “likely increase” and will not be covered by a ban on surcharges.
Virginia Retirement System sees 22 cases of identity theft
The Washington Post | Thu August 23, 2018 - Authorities say 22 fraudulent online accounts were created for government employees enrolled in the Virginia Retirement System. The third-party administrator for the retirement system has reimbursed affected employees, including the more than $200,000 that was stolen from six accounts.
More from PaymentsSource
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