Morning Brief 11.18.19: Facebook adds donation buttons for charity payments
The information you need to start your day, from PaymentsSource and around the web:
As it weathers the controversy surrounding its Libra cryptocurrency, Facebook has been deploying new payments technology off of its core business. It launched Facebook Pay, which centralizes several existing Facebook payment features; and it's also adding donation technology.
The new donation features include a fundraising sticker for Facebook Stories and donation buttons for Instagram and video game live-streaming accounts.
Facebook is not charging a fee for donations, a feature that appears designed to counter PayPal, reports Forbes, adding PayPal charges fees for donations which can vary based on the charity, with discounts for IRS-designated nonprofits.
A social media app called Pepo has debuted a crypto payment distributed app (dApp) that's designed to take advantage of its base of more than 15,000 users.
The app can be downloaded on Apple and Android devices, and is structured as a social network with a crypto wallet, explains Cointelegraph.
Consumers can use the app to tip creators and make payments on the social marketplace.
Cash on the ballot
Ahead of the U.K. general election, consumer advocates are pushing for politicians to introduce legislation guaranteeing access to cash.
Which? contends there are more than 250 communities that have little or no cash access, reports Finextra, adding there are 130 postcode districts that do not have a single cash point and 36 "cash deserts," or communities with no cash access or post office.
The issue has come up recently as Barclays reversed a decision to discontinue supporting cash withdrawals at U.K. post offices, partly under political pressure.
The Bank for International Settlements and the Monetary Authority of Singapore have launched an innovation hub in Singapore that will work on a variety of financial technologies, including authentication.
The hub's first project will create a frame for public digital infrastructure for identity, content and data sharing. The goal is to support payments and other transactions as part of an interoperable network, a key component of flexible identity security for mobile payments.
The hub's second project is a digital platform for compliance, which is designed to improve communication between regulators, fintechs and central banks.
From the web
UK's Sage Group to sell payment processing unit for 232 million pounds
REUTERS | Mon November 18, 2019
Software company Sage Group Plc said it will sell its payment processing unit Sage Pay for about 232 million pounds ($296.87 million) to Elavon, a payments company and unit of U.S. Growth in payment systems has kept deals rolling with Fidelity National Information Services Inc’s buyout of Worldpay for about $35 billion earlier this year. In January, U.S.-based Fiserv Inc bought payment processor First Data Corp for $22 billion.
Tyro Payments seeks to raise up to $173 million in Australia IPO
REUTERS | Mon November 18, 2019
Australia’s Tyro Payments filed a prospectus on Monday for a domestic initial public offering (IPO) that could raise as much as A$252.7 million ($173.23 million). Tyro’s plan comes even as six listings have been aborted in October alone, highlighting a tough Australian IPO market as investors demand lower prices to protect against the possibility of post-float losses.
Suspects arrested over $550,000 ‘SIM swapping’ crypto theft
YAHOO FINANCE | Sat November 16, 2019
Two men have been arrested and charged over a scheme to steal digital assets from cryptocurrency executives – as well as threatening their families. The men are alleged to have stolen the cryptocurrency by taking over their victims’ social media and e-mail accounts using a technique known as “SIM swapping”.
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