8.17.18 Your morning briefing
The information you need to start your day, from PaymentsSource and around the Web:
Android Police has published a list of the new banks Google has added over the past couple of months. It added 65 in June and 171 in May.
Google is also consolidating online services onto Google Pay and is stepping up its support for IoT options.
Diebold Nixdorf scores a victory in court
The U.S. Court of Appeals for the Federal Circuit has reversed a decision from the International Trade Commission that ruled against Diebold Nixdorf in a patent dispute.
The ITC had ruled Diebold Nixdorf violated Nautilus Hyosung's patent for automated ATM technology. Hyosung had already dismissed three related patents on its own after Diebold Nixdorf provided evident Nautilus had copied ATM technology from multiple manufacturers.
The Federal Circuit found the remaining Hyosung patent is also unenforceable. The case may continue, since Hyosung may appeal and Diebold Nixdorf has made a counter claim that Hyosung is violating Diebold Nixdorf patents.
Ant Financial's a major player in the Asian technology market, but exactly how big is it?
The company accounted for 83% of all fintech investment in Asia, reports Singapore Fintech News. The site attributes the huge share to Ant's myriad plays in e-commerce and mobile payments technology, as well as its ability to export that technology to other countries where it's made a series of deals with merchants to support transactions for Chinese travelers.
Ant is also part of China's Belt and Road project, which aims to resurrect the ancient Silk Road trading system, only repurposed for modern shipping and cross-border e-commerce and payments.
Crypto at the polls
California may allow political candidates to accept cryptocurrencies as political donations.
Coindesk reports the state is considering several changes in campaign rules, and a long-sought option for crypto donations may be one of them.
The state has not made a final decision, though state election regulators did agree on a $100 cap per crypto donation for this year's midterm elections.
From the Web
City investigates possible data breach of online payment system
NBC News | Thu August 16, 2018 - Some local water customers may have had their information compromised due to a possible breach of an online billing payment system. The City of Bossier maintains a system that allows customers to pay their water bills online using a credit/debit card. In the past few business days, a number of water customers have alerted the City to unauthorized charges on cards they used to pay their City water bills.
NPCI launches UPI 2.0, here's what the new platform has to offer
CNBC | Thu August 16, 2018 - The National Payments Commission of India (NPCI) launched the United Payments Interface (UPI) 2.0 on Thursday, to expand its presence in the person-to-merchant payment space. "From launching a card payment settlement system that competes with Visa and MasterCard to setting up a platform to facilitate instant money transfer service, NPCI has been moving from one success story to other, " Rajnish Kumar, chairman, State Bank of India said.
Chinese tourists boost mobile payments abroad
China Daily | Fri August 17, 2018 - As more Chinese people travel abroad during this year's summer holiday, the boom in mobile payments has reached several countries, according to latest data from the nation's leading mobile payment service. Statistics from Alipay showed the number of mobile payment transaction increased 75 times in Russia, 12 times in Canada and eight times in Malaysia.
More from PaymentsSource
Unpacking the baggage of legacy payments
Legacy card issuers are facing a huge problem that threatens their relevance. Most of them are trying to launch a spaceship with a steam engine, and many of the solutions to that quandary are expensive, risky — and temporary.
Credit unions' distributed ledger evolves into a platform
Credit unions are working to turn a distributed ledger-based identity project into a platform for payments and financial services.
Data: Who wants contactless cards?
The U.S. may be next to see a surge of contactless credit cards, following other major markets around the world. But it’s unclear whether enough U.S. consumers are interested in contactless payments for issuers to make the investment.
How mobile POS devices succumb to hackers
Security researchers are uncovering widespread vulnerabilities in several popular mobile point-of-sale systems, which have become increasingly popular in recent years among many types of merchants large and small.