7.5.18 Your morning briefing
The information you need to start your day, from PaymentsSource and around the Web:
Paytm goes to Bollywood
Paytm is looking to entertainment as a means to expand, a strategy that has led to a marketing partnership with Indian film studio Dharma Productions.
The two companies will form a loyalty program with a payment card that accesses monetary incentives as well as trips to move shoot locations, reports TheDrum.
Paytm has set a goal of selling and processing payments for 100 million tickets in 2018 in India, and plans additional partnerships with entertainment companies.
Dubai turns to the Pays
Dubai's land development department has activated Apple Pay and Samsung Pay to automate city payments, investments and other government affiliated transactions.
Menaherald reports Dubai is executing a larger strategy to reduce paper-based financial transactions to improve its attractiveness as an international financial and investment hub.
Cities often digitize government-related payments and basic retail transactions to change consumer payment habits ahead of broader automation projects.
More in the sandbox
The Financial Conduct Authority's regulatory sandbox has added 29 new firms, with a focus on distributed ledgers and crypto assets.
The sandbox allows new fintechs to test technology without having to follow all regulations. This latest addition focuses on distributed ledgers, new uses for cryptocurrencies, geolocation, APIs and artificial intelligence.
Finding new ways to bring automated transactions and financial services to underbanked communities is also a goal that drove the selection of the latest group of companies. In the past four years, about 500 companies have used the sandbox.
On the bitcoin bandwagon
Europeans are not interested in bitcoin despite the considerable buzz the cryptocurrency has received.
Only 16% of Europeans are interested in cryptocurrency, according to ING, which based its findings on a survey of 15,000 consumers
The survey also found 9% of the respondents owned bitcoin, and awareness varied. Austria had the highest awareness at 79%, compared to Belgium, where only 39% of the population is aware of bitcoin.
From the Web
Hong Kong online payments market proving a tough nut for AlipayHK to crack
South China Morning Post | Thu July 5, 2018 - Online payment service AlipayHK has signed up 1.5 million users in Hong Kong, but encouraging the adoption of mobile payments is proving to be an uphill task amid the city’s attachment to more traditional forms of transactions and concerns over data privacy.
Malaysia’s first online-to-offline grocery sale to take place this weekend
Yahoo News | Thu July 5, 2018 - Malaysia’s first online-to-offline grocery sale will take place this weekend, organised by mobile payment platform Fave and local online retailer Potboy. The sale will allow customers to shop for their groceries online via Potboy and redeem these later at Jaya One between July 6 and July 8.
Razer Pay launches in Malaysia
The Business Times | Thu July 5, 2018 - RAZER on Wednesday made its debut in Malaysia by launching an e-wallet service that is targeting the millennial generation. The Singapore gaming company, co-founded by chief executive Tan Min-Liang, announced that the initiative is a partnership between Razer Inc and Berjaya Corporation Berhad.
More from PaymentsSource
An Amazon Go clone for the camera shy
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How plastic cards can flourish in a world of digital payments
Entrust Datacard, which serves both sides of the physical and digital payments spectrum, sees the categories' fates as intertwined. The more momentum digital and mobile wallets have, the more opportunity they create for their plastic counterparts.
Room for improvement in hotel payments security
Hotels have elaborate systems to capture lodging fees and other purchases charged to rooms, but when customers book special events such as weddings or conferences, payment security can be more of a problem.
Synchrony completes revised deal for PayPal's loan book
The final sale price came it at $6.9 billion, or about $900 million more than what the two firms agreed upon when the deal was announced in November.