12.21.18 Your morning briefing

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

Uber's ongoing breach pain
France's data protection agency has fined Uber more than $460,000 in connection with a data breach in which the records of more than 57 million drivers and customers were exposed. The breach would have been preventable if better controls were in place, reports the Economic Times.

Uber's 2016 data breach drew criticism for the company's response, which included making a ransom payment to the attackers as part of its attempts to conceal the incident.

Since then, the ride sharing company has been accumulating more than $1 million in fines across Europe, and a $148 million breach settlement in the U.S.

Welcome to Australia
Commonwealth Bank of Australia's new deal to support Alipay includes location-based marketing and promotions aimed at Alipay users before they land in Australia.

The move is designed to attract local businesses, which can accept Alipay and the marketing capabilities via a download on the bank's touchscreen device.

The bank also hopes to reach Chinese tourists, who are driving an Australian tourism boom, by adopting a successful Alipay strategy of reaching Chinese travelers in other markets by providing a familiar payment option.

Big gig
Account management and payment app Coconut has launched a invoicing tool for freelancers, self-employed people and owner-managed businesses.

The feature automates bookkeeping, tax records and money management tasks by analyzing incoming and outgoing payment data. About 5,000 users have pre-registered for the service, according to Coconut.

Coconut operates in a market that include gig economy companies such as Tipalti, which manages payments and tax forms for contract workers.

A group of VC heavyweights including DST Global, Andreessen Horowitz, and Spark Capital have invested $125 million in Earnin, a flexible salary payments app.

The company, formerly known as Activehours, had an original model that helped employees track earnings and transform funds into checking accounts, reports TechCrunch. Earnin's founder, former UniRush president Ram Palaniappan, started the company in 2014.

Earnin's technology backs the early withdrawals, and then debits the employee accounts on payday. There's no interest or fees, but the employee can tip the app, which then funds the next withdrawal.

From the Web
Officials: Data breach exposed Bruegger's Bagels customers' payment info
ABC News | Fri December 21, 2018 - Thursday, Caribou Coffee, Bruegger’s Bagels, and Coffee & Bagel Brands posted letters to their websites notifying customers of a recent data breach. According to officials, the company noticed unusual activity on their network on Nov. 28.

Facebook is developing a cryptocurrency for WhatsApp transfers, sources say
South China Morning Post | Fri December 21, 2018 - Facebook is working on making a cryptocurrency that will let users transfer money on its WhatsApp messaging app, focusing first on the remittances market in India, according to people familiar with the matter.

Mutual Trust Bank launches UnionPay cards in Bangladesh
Verdict | Thu December 20, 2018 - Bangladeshi lender Mutual Trust Bank (MTB), in collaboration with payments software provider Compass Plus, has introduced UnionPay International (UPI) cards in the country.

More from PaymentsSource
One world, one key: The growing urgency for a common digital ID
The digital ID market has massive potential, but many fundamental problems that must first be overcome. Among them: The companies best positioned to provide a viable digital ID platform are not the ones best positioned to benefit from it.

Apple to resolve conflict with Swiss payment app TWINT
The battle between Apple Pay and the Swiss banks' payment app, TWINT, is nearing a conclusion with Apple agreeing to no longer interfere at the point of sale when a consumer is attempting to make a purchase with TWINT. However, the counterclaim that the Swiss banks are colluding to suppress their payment cards from being used on Apple Pay remains unresolved.

How JCB is preparing for a plastic-free future
The ubiquity of plastic payment cards makes it hard to imagine a future without them, but Japan’s JCB card network already envisions it.

Octopus teams with Mastercard for online payments
Established as a transit-fare and small-value payment card in Hong Kong nearly 20 years ago, the Octopus Card is making a transition to a virtual prepaid card for online shopping.

ICO and crypto players should brace for an aggressive SEC
The SEC is already ramping up action in the cryptocurrency space, with stronger moves in the year ahead, and market participants should be preparing to respond, according to Aaron Kaplan, a securities lawyer and founder at Prometheum.

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