10.23.18 Your morning briefing

Register now

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

Google at the terminal
On the same day NCR announced its deal to acquire JetPay to boost its processing, rival Diebold Nixdorf partnered with Google and Mastercard to enhance its own payments technology.

A large part of the collaboration includes Diebold Nixdorf's cloud-based merchant services technology, which will be tied to Google to boost advertising, allowing shoppers to see what inventory is available in stores near them.

An additional Diebold Nixdorf partnership with Mastercard will support cardless and other digital payments technology at the point of sale.
Blackmail
Three Paytm staffers were arrested in India for attempting to extort about $2.7 million from Shekhar Sharma, the founder of Paytm.

ZeeNews reports the suspects stole personal data from the Paytm exec and threatened to leak the data if the ransom was not paid.

Some of the ransom money had already been paid, but the total ransom amount was hiked.

Cloud formation
Swift and Microsoft have debuted a proof of concept to host Swift infrastructure and support cloud payments on Microsoft Azure.

The two companies hope to deploy Swift messaging in the cloud, a process designed to speed payments for banks, corporates and service bureaus.

Tying shoes
Luxury leather shoe company Rancourt & Co. is the first merchant to support "Slice it in 4," a product from Klarna that allows consumer to pay for items in 4 equal installments rather than all at once.

Fashion United reports the consumers choose a method of payment, which is made at two, four, and six weeks after purchase.

Klarna recently partnered with Magento to streamline the checkout experience for its installment payments product, part of a diversification strategy that includes an investment from Visa.

From the Web

Alibaba wins order blocking cryptocurrency firm from using similar name
Reuters | Tue October 23, 2018 - Chinese ecommerce giant Alibaba Group Holdings Ltd has won a U.S. court order barring Dubai-based cryptocurrency firm Alibabacoin Foundation from using the Alibaba name. U.S. District Judge Paul Oetken in Manhattan federal court on Monday issued a preliminary injunction against Alibabacoin, rejecting its argument that he lacked jurisdiction.

Hong Kong’s TNG Fintech acquires Indonesia’s digital payments company WalletKu
Yahoo News | Mon October 22, 2018 - Hong Kong-based TNG FinTech Group has acquired WalletKu, a finch company which offers prepaid mobile phones credit top up, bill payments, hotel, airline, and sports ticket bookings and payments. This is TNG’s second such a deal in a week, following its acquisition of Malaysia’s payments company Ekuinas Tranglo.

Visa Integrates Open Source Hyperledger Tech for B2B Blockchain Payments
CCN | Mon October 22, 2018 - Visa is integrating open-source blockchain code from the Hyperledger Fabric ahead of the commercial launch of its own blockchain service for enterprise payments in Q1 2019. Visa B2B Connect, the payment giant’s enterprise blockchain platform that enables cross-border payments between businesses, is partnering IBM to integrate the latter’s development of the open-source Hyperledger Fabric framework.

More from PaymentsSource

Gender gap in financial services affects pay, family leave, promotion
The gap in attitudes and outlook on gender inclusion is wide enough that women and men in financial services often have entirely different takes on gender in the workforce, with men much more likely to have an outsized positive view on progress in gender inclusion.

How Lithuania is becoming Europe's new fintech capital
The Bank of Lithuania is positioning the country’s capital Vilnius as a hub for payments-related fintechs wanting to enter the European market — a move that's timed to take advantage of the uncertainty Brexit has cast over London's claim to the title.

Paytm partners with Yahoo, SoftBank to launch PayPay wallet in Japan
Indian wallet provider Paytm has entered the Japanese market in a joint venture with SoftBank Group and Yahoo Japan.

Can Venmo’s playbook help cryptocurrencies succeed?
Cryptocurrency companies hope P2P transfers will prove habit-forming enough to convince consumers to try out a new currency.

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