9.6.18 Your morning briefing
The information you need to start your day, from PaymentsSource and around the Web:
Drone delivery may still be a dream for many companies, but it's a reality on the King's Walk Golf Course in North Dakota, where golfers can order food delivered to them in the middle of a game, Engadget reports.
The service is operated by Flytrex, which keeps its drones in technicians' line of sight and flies them over parts of the course that don't have people below, the article says. It charges a $3 fee per order, with each delivery coordinated through a mobile app.
Facebook status: Taking a break
Even as Facebook is working to transform its social media and messaging apps into platforms for commerce, it may lose its most valuable asset — its users.
Forty-two percent of U.S. Facebook users aged 18 and up have taken a break from the social network, lasting several weeks or more, according to new data from Pew Research Center.
The survey was conducted between May 29 and June 11, in the wake of the Cambridge Analytica disclosure, The Verge notes in its reporting on the research. And the trend to take a break from Facebook seems most prominent among people aged 18 to 29; Facebook users in older demographics were less likely to take a break, even if they tightened their privacy settings, the article states.
PayPal invests in a challenger bank
The London and Tallinn-based challenger bank Monese has secured $60 million in Series B funding, TechCrunch reports.
The round was led by Kinnevik with participation from PayPal, Augmentum Fintech, Avios Group and prior investors such as Investec's INVC Fund, the article says.
Monese offers a mobile account with a debit card, and is aimed at thin-file consumers. It plans to hire 100 new employees in its U.K. and Estonian offices, as well as open an office in Portugal this year, TechCrunch says.
Routers at risk
Thousands of routers made by MikroTik were compromised by malware following the discovery of a vulnerability in April, with 370,000 devices still unpatched today, Ars Technica reports.
The new report from China's Netlab 360 follows earlier research by Trustwave that spotted two malware campaigns targeting routers made by MikroTik, which is based in Latvia, the article states.
From the Web
FBI Investigating American Express Foreign-Exchange Pricing
The Wall Street Journal | Wed September 5, 2018 - The Federal Bureau of Investigation has launched a probe into pricing practices within American Express Co.’s foreign-exchange unit, according to people familiar with the matter. The investigation is in its early stages and is focused on whether the foreign-exchange international payments department misrepresented pricing to clients in order to win their business, the people said.
Mobile spyware maker leaks 2 million records
TechCrunch | Wed September 5, 2018 - mSpy, a commercial spyware solution designed to help you spy on kids and partners, has leaked over 2 million records including software purchases and iCloud usernames and authentication tokens of devices running mSky. The data appears to have come from an unsecured database that allowed security researchers to pull out millions of records.
The Rise of Person-to-Person Payment Apps
The Motley Fool | Wed September 5, 2018 - It's no secret that the U.S. and much of the rest of the world is slowly transitioning away from cash and toward electronic forms of payments. However, not all transactions can be made electronic with credit or debit cards alone. That's where person-to-person payment apps come in.
More from PaymentsSource
Fintechs see Mastercard-Google data deal as a call to arms
Technology developers have little choice but to see big data deals like Mastercard’s reported collaboration with Google as an opportunity for deep, actionable analysis, setting aside the chilling effect of privacy concerns and a consumer buy in.
Younger patients will bring blockchain payments to health care
Blockchain technology has the potential to change the healthcare industry, placing the patient, at the center of the system by providing added security, privacy and interoperability to health data and payments, writes Donika Kraeva, strategic communications manager for Dentacoin.
The card brands' digital dilemma: Why the Mastercard-Google deal is just the beginning
While the card networks have greatly benefited by the global boom in e-commerce, they are confronted with the corresponding growth in digital advertising. This will increasingly lead them to seek out data-sharing deals like Mastercard's reported arrangement with Google, which could prove vital to the networks' future survival.