12.12.18 Your morning briefing
The information you need to start your day, from PaymentsSource and around the Web:
The European Union has agreed to several measures to improve and standardize cybersecurity for e-commerce and other online activities.
One measure is an EU-wide cybersecurity scheme that includes standards for computing devices sold in the EU.
"In the digital environment, people as well as companies need to feel secure. It is the only way for them to take full advantage of Europe's digital economy," said Andrus Ansip, vice president in charge of the Digital Single Market, in a release.
Passing the test
The Copenhagen Business School will roll out finger vein payments across the entire campus, following a successful test run.
A collaboration between Nets and Sthaler, the technology processed more than 12,000 transactions in a school restaurant and coffee shop, or one in ten of all transactions at those locations, reports Finextra. The full deployment will cover 32 points of sale at six sites.
Google Pay has expanded its reach into the popular subscription payments market though a collaboration with Vindicia.
Vincidia's CashBox is a subscription billing and recurring payment platform designed to support payments through the web or mobile with minimal navigation or data entry.
Consumers who have stored credit or debit card information with Google Pay will be able to use auto-fill at checkout and have those credentials available for later recurring payments.
Barclays Bank is enabling customers to block payments to certain types of retailers, such as gambling services, bars and specific phone lines.
The bank worked with the Money Advice Trust, the Money and Mental Health Policy Institute, and other advisors on the project.
The Daily Mail reports there are more than 340,000 "problem" gamblers in the U.K., with another 1.7 million at risk, making the move part of a broader initiative to combat addiction.
From the Web
Ingo Money Making Payments Move In Real-Time, For A Fee
Forbes | Tue December 11, 2018 - INGO Money offers immediate payment on checks for a fee —$5 for checks of $100 or less and 5% on checks of more than $100, but if it is a pre-printed payroll or government check the fee is $5 for $250 or less and 2% for more than $250. It refers to its business as a payment gateway.
Bank of China Hong Kong is first to allow mobile payments in mainland without a Chinese bank account
South China Morning Post | Wed December 12, 2018 - Hongkongers will for the first time be able to use their mobile phones to make payments in mainland China without having to hold a bank account there, thanks to a new feature of Bank of China Hong Kong’s e-wallet app. From Wednesday the lender will allow users to add value to their BOC Pay app using funds from any Hong Kong bank account.
UAE, Saudi Arabia using fintech for cross-border settlements
Reuters | Wed December 12, 2018 - The United Arab Emirates and Saudi Arabia have started using fintech for cross-border settlements, including a digital currency which they jointly developed for that purpose, the UAE’s central bank governor said on Wednesday.
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