2.19.19 Your morning briefing
The information you need to start your day, from PaymentsSource and around the Web:
The European Union's parliament has overwhelmingly approved a regulation that requires banks to charge lower fees for cross-border Euro payments involving non-EU countries.
The bank will have to charge equal fees for Euro payments between EU countries and similar transfers between EU and non-EU nations, a complicated issue as the U.K. is likely to soon be a non-EU country. This class of payments has typically carried higher fees. 532 members voted in favor of the rule, with 22 voting against and 55 abstaning, reports Electronic Payments International.
For bank transfers, the banks are now required to reveal currency conversion cost prior to the payment. The vote is designed to improve transparency into fees, and is part of a broad effort in the EU to standardize parts of the payments market, including security.
Cookies in the cloud
The Girl Scouts have long adopted digital transaction technology to sell cookies, embracing mobile technology as long ago as 2012.
The organization this year will allow purchases through Clover, First Data's cloud-based point of sale system which supports Apple, Google, Samsung Pay and other apps.
Clover will be piloted in the Atlanta area with about 400 local troops. The Girl Scouts' focus on technology also includes a merit badge for web security, and "Digital Cookie," a program that allows members to sell cookies through their own websites.
Blockchain pros wanted
Fresh off of hiring blockchain experts from London fintech Chainspace, Facebook is seeking more blockchain talent.
It's advertising for a "technical program manager, marketplace payments blockchain," reports Finextra, which adds the posting doesn't have a lot of details other than using the technology to help "billions" of people to access things they don't have now. The job is one of more than a dozen blockchain positions available at Facebook, Finextra reports.
Facebook has been building a blockchain unit under the direction of David Marcus, the former PayPal president.
Marriott has set up a way for guests to look up passport numbers to see if they were a victim of the Starwood hack, a hotel reservation and transaction system theft that impacted as many as 500 million guests, making it one of the largest hacks in history.
The check, operated by security company OneTrust, asks for personal information and a passport number, reports TechCrunch.
The hotel chain reports more than 20 million encrypted passport numbers and about 8.6 million payment card numbers were affected in the breach.
From the Web
Alphabet and Salesforce back $75 million funding for UK online payments start-up GoCardless
CNBC | Mon February 18, 2019 - British online payments start-up GoCardless has landed a $75 million investment backed by U.S. tech giants Alphabet — the parent company of Google — and Salesforce. London-based GoCardless processes direct debit payments on behalf of businesses.
Australia’s Prime Minister Blames ‘Sophisticated State Actor’ for Parliament Hack
The New York Times | Mon February 18, 2019 - Prime Minister Scott Morrison of Australia on Monday blamed a “sophisticated state actor” for the recent hacking of Parliament’s computer network, raising the specter of foreign interference in the country’s politics weeks before a national election.
Etsy error resulted in large amounts being withdrawn from some sellers’ bank accounts and credit cards
TechCrunch | Sun February 17, 2019 - An Etsy bill payment error resulted in large amounts of money being withdrawn from several sellers’ bank accounts and credit cards on Friday morning. While the company says the issue has been resolved and was not the result of fraud, the headache isn’t over for affected sellers because Monday was a federal holiday in the United States, and many financial institutions are closed.
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