Morning Brief 2.10.20: Japanese politicians want U.S. collab on digital currency
The information you need to start your day, from PaymentsSource and around the web:
Trans Pacific digital
Japan said the U.S. should share information on digital currencies to compete with China's strategy to offer a digital yuan.
Akira Amari, a leader of Japan's Libra Democratic party, proposed the issue be discussed at the next G7 meeting, reports Reuters. Amari is part of a group of lawmakers pushing Japan to issue a central bank currency while leaving space for international cooperation.
China is expediting its digital currency as a competitive hedge against Facebook's Libra project, as well as a curb against other large Western companies that influence e-commerce, such as Google and Amazon.
Air Canada has added PayPal as an option to purchase tickets on the airline's website, marking PayPal's first airline client in Canada.
Travelers will be able link their bank account, credit card or Visa debit cards to their PayPal accounts to pay for flights, which the airline hopes will remove some of the navigation required for booking.
Air Canada also just relaunched its incentive marketing program after several years of churn and uncertainty over bank support.
Viewers of The Bachelor are trying to guess the winner based on the social threads that accompany payments on Venmo.
A fan apparently checked out a "bachelor's" (Colton Underwood) Venmo account and found out that person and one of the contestants were friends on Venmo, reports The Wall Street Journal and a handful of celebrity gossip sites. Underwood later congratulated the fan on another social media site for figuring out the ending.
This has led to people basing the current season's outcome based on the Venmo status of the remaining contestants.
The Brink's Company has invested $9 million in MoneyGram as part of a strategic partnership, though Brink's says it does not intend to acquire an interest in MoneyGram.
Brink's offers a range of ATM management, processing and cash transport for retailers and government agencies in more than 100 countries.
From the Web
Amazon and Goldman Sachs Wade Deeper Into Financial Services
THE MOTLEY FOOL | Fri February 7, 2020
For Goldman Sachs, the partnership gives it access to a new market of borrowers who might not think of the Wall Street firm when looking to shore up capital. For Amazon, it furthers its mission to profit from other aspects of its vast marketplace and gets it around some of the regulatory requirements associated with lending. Amazon can also significantly extend the lending products to its customers without taking on more credit risk.
Buy now, debt later: how the lure of Klarna encourages young people to spend
THE TELEGRAPH | Sat February 8, 2020
Users are attracted by interest-free offers, but these can carry a sting in the tail with high charges for missed payments. Debt advice firm Payplan said it had seen a 45pc increase in people struggling with buy now, pay later debts during the past year.
Turkey reduces fees banks can charge commercial, financial clients
REUTERS | Mon February 10, 2020
Turkey has reduced the range and the levels of fees and commissions that banks can charge clients, according to central bank and banking watchdog regulations announced on Monday. The measures will cut the various charges banks can charge financial consumers to 16 from 20.
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