Morning Brief 5.18.20: Libra's member base picks up

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The information you need to start your day, from PaymentsSource and around the web:

Roster additions

The Libra Association has added three new members to the Facebook-affiliated stablecoin project as it gears for a release this year.

Investment firm Temasek, crypto asset firm Paradigm and VC Slow Ventures add to as new members that have joined in the past month. Libra lost several high-profile payment companies in late 2019 after political pushback mounted.

More recently, the association named former HSBC chief legal counsel Stuart Levey CEO and changed its stablecoin structure to localize the traditional currencies that back Libra's cryptocurrency.

Cash on delivery

Paytm Payments Bank will allow people to receive cash at their homes, a coronavirus-related move to allow people to avoid ATMs and other outdoor locations.

Consumers can make withdrawal requests through the bank app, and a courier will deliver the money to their home, explains DNA India.

The institution is particularly interested in reaching older consumers who still wish to use cash but don't want to leave their homes. Paytm hopes this will transition these consumers to mobile banking.

Risky business

Alipay has relaunched its AI risk management product to accommodate the rush of payments to digital channels during the coronavirus outbreak.

The payment company has opened its development tools to enable better collaboration with third parties.

Called AlphaRisk, the platform analyzes fraud attempts and patterns, and is designed to automatically update and intervene upon spotting a new attack or risk.

Omny station

New York's Metropolitan Transportation Authority is considering ways to manage commuter volume in the months ahead as the city reopens, with one possibility being an expansion of its digital payments service to reserve seating.

OMNY and Ticketmaster would be used to book general times to ride, according to the New York Post, noting it's just one idea being floated, and it would come with logistical challenges.

OMNY, which is designed to replace the Metrocard, left pilot testing late in 2019 and has been well received in early deployment. Open loop transit payments are also well-suited to managing ridership spikes, particularly if tied to smartphone mobile apps.

From the web

Shift4 Payments files to go public
REUTERS | Fri May 15, 2020
Payments technology firm Shift4 Payments Inc filed for its U.S. initial public offering on Friday, at a time when more transactions are moving online due to coronavirus-led restrictions.

Yoma Strategic's mobile payments joint venture in Myanmar ties up with Alipay operator
THE STRAITS TIMES | Mon May 18, 2020
Alipay operator Ant Financial Services Group will invest $73.5 million in Digital Money Myanmar (Wave Money) as part of a strategic partnership to promote financial inclusion in Myanmar.

Tesco Bank customers get credit rating warnings after taking payment holiday
THE SUNDAY TIMES | Sun May 17, 2020
Tesco Bank customers who have been granted credit card payment holidays are getting emails from credit agencies saying that they have defaulted on payments and their score could be harmed.

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