7.25.19 Your morning briefing
The information you need to start your day, from PaymentsSource and around the Web:
eBay vs Amazon
eBay plans to offer warehouse and shipping for merchants that sell on its site, a strategy designed to lure sellers from Amazon.
eBay is testing the program in the U.S., using a model similar to Fulfillment by Amazon, which offers rental space to merchants globally to store items closer to consumers, reports Reuters.
Amazon has taken market share from eBay over the past few years, prompting the company to start a strategy review of its business practices earlier this year. eBay has also been shedding some of its lingering relationships with PayPal, which it spun off about five years ago.
On the runway
Providing access to boarding passes has been a major part of Google Pay's evolution, as airports have long provided a natural mix of mobile apps for ticketing and payments inside terminals, a strategy that's also worked for WeChat Pay and Alipay.
Alaska Airlines has added Google Pay as an option for boarding passes, using Google Pay's passes function, reports 9to5Google. Travelers can use Alaska Airlines' Android app to tap a "save to phone" button to access boarding passes. The app also enables travelers to copy confirmation codes and mileage plan numbers.
Alaska Airlines' deployment follows Southwest, which added Google Pay for boarding passes late last year.
Software and electronics retailer Newegg has added 73 countries to its bitcoin acceptance network, a welcome shot in the arm for cryptocurrency payments.
Newegg accepts bitcoin payments through a collaboration with blockchain payments company BitPay, which raised $40 million in 2018 to fuel cross-border payments.
Facebook's Libra has drawn political response from numerous countries, mostly critical, and there have already been hearings into the social network's crypto plans, with Facebook executives promising to adhere to all regulations ahead of launch.
In Switzerland, the home of Calibra, the Facebook subsidiary that will oversee Libra, there's reportedly been little communication. Swiss regulators on July 17 wrote to the Libra Association in Geneva to ask for status on the cryptocurrency project, but as of July 23, the Swiss regulators had not heard back from Facebook.
The regulators are particularly interested in governance and data protection. The Swiss Federal Data Protection and Information Commissioner, which issued the letter, did not return a request for comment.
From the Web
Cryptocurrency loan site YouHodler exposed unencrypted user credit cards and transactions
TechCrunch | Wed July 24, 2019 - A cryptocurrency loan startup exposed reams of customer credit cards and user transactions for almost a month — because it forgot to protect the server with a password. The database belongs to YouHodler, a lending platform designed for cryptocurrency, which claims to have processed $10 million in loans to more than 3,500 customers.
People in US Trust Bitcoin More Than Facebook’s Libra: Report
CoinDesk | Wed July 24, 2019 - In the poll of 1,799 U.S. adults carried out since Facebook’s white paper launch in mid-June, consumer insights provider CivicScience found that, of those that expressed a view, just 2 percent felt they would trust Libra and its Calibra wallet more than bitcoin.
Security sector sets rules for data collection
The Straits Times | Thu July 25, 2019 - Private security officers, when detaining individuals for criminal offences, should not collect, use or disclose a suspect's full NRIC number, as this may be in breach of the Personal Data Protection Act (PDPA). However, they are allowed to collect NRIC numbers for visitor entry into sensitive places such as data centres or bank vaults, due to the significant security concerns involved.
More from PaymentsSource
Democrats try to force Fed's hand on faster payments
WASHINGTON — A group of House and Senate Democrats have introduced a bill that would require the Federal Reserve to create a real-time payments system.
Higher yields on card loans boost Discover's 2Q profit
Solid loan growth and higher yields in the credit card business boosted quarterly earnings at Discover Financial Services.
Blockchain startups see hope in Libra
Libra and Facebook’s huge impact on the conversation around blockchain and cryptocurrency is giving fuel to other blockchain companies that portray their models as alternatives to Facebook’s controversial plans.
Japan works to close contactless gap before Olympics
One year out from hosting the Summer Olympics, Japan’s merchant base has one of the lowest ratios of contactless acceptance compared with other major markets, according to Visa.