Morning Brief 9.1.20: Google Pay adds NFC in India
The information you need to start your day, from PaymentsSource and around the web:
Google Pay is adding cards to its NFC feature in India, providing a second route to reach consumers and merchants beyond India's United Payments Interface, where Google is responsible for nearly two-thirds of the transactions.
Cards will be tokenized and stored locally on users' devices, according to AndroidPolice. The addition should broaden Google's payment scale in India, where it has spent the past several years adding support for transit ticketing, improving security and opening an artificial intelligence research hub.
Amazon, Walmart and Facebook have also invested in e-commerce, point of sale credit and online order/delivery in India in an attempt to gain a share of a large market that's still heavily reliant on cash.
One of China's largest banks opened a digital wallet for China's central bank digital currency, then shut it down after it gained public notice.
China Construction Bank, which is one of China's four large state-operated banks, published information on the wallet, such navigation instructions and how to use mobile phone numbers associated with existing bank accounts. The information was removed by Saturday evening, reports Coindesk, adding some people were able to use the wallet in China to make payments.
CCB replaced the CBDC wallet information with a message saying the features are under construction and are not yet available. China's CBDC plans have progressed quickly, with merchants such as Starbucks and McDonald's running pilots.
Mogo is preparing a P2P transfer application that will include access to credit scoring, ID fraud protection, data on carbon offsets for digital payments, bitcoin trading and personal loans.
Citing the popularity of Square Cash and Venmo in the U.S., Mogo contends there is space in Canada for an alternative to Interac, the national debit network. Mogo has about one million enrolled users for its existing mobile payment products such as its MogoSpend prepaid Visa card.
The Vancouver-based Mogo specializes in digital financial services, and has also built blockchain and distributed ledgers to support cryptocurrency payments and investments.
Cleared for takeoff
The Federal Aviation Administration has approved Amazon's Prime Air drones, allowing the e-commerce company to move forward with autonomous delivery plans.
Amazon plans to test customer deliveries outside the visual line of site of the operator, reports CNBC,adding Amazon demonstrated the technology directly to FAA inspectors.
Amazon is among the e-commerce operations experimenting with airborne delivery and other robotics. Amazon has set a goal of 30 minute delivery for items that drones can safely carry.
From the web
Walmart+ launches Sept 15, offering same-day delivery, gas discounts and cashierless checkout for $98/yr
TECHCRUNCH | Tuesday Sept. 1, 2020
The $98 per year service will combine free, unlimited same-day delivery on groceries and thousands of other items, with additional benefits, like fuel discounts and access to a new Scan & Go service, similar to Walmart-owned Sam’s Club, that will allow members to check out at Walmart stores without having to wait in line.
PayPal has a fraud problem
ENGADGET | Monday Aug. 31, 2020
A string of 'invoice' scams shows how easy it is for hackers to siphon money out of people's accounts.
Cosmose, a platform that analyzes foot traffic in physical stores, gets $15 million Series A
TECHCRUNCH | Tuesday Sept. 1, 2020
Today the startup announced it has raised a $15 million Series A. The round was by Tiga Investments, with participation from returning investors OTB Ventures and TDJ Pitango, who co-led Cosmose’s seed round last year.
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