9.19.18 Your morning briefing
The information you need to start your day, from PaymentsSource and around the Web:
In the game
Mastercard is reportedly close to finalizing a sponsorship deal with Riot Games that will center around League of Legends esports competition, reports eSports Observer.
The deal would be one of the largest between a traditional financial brand and esports, and could spark other brands to step into the competitive video game industry, according to the Observer.
Visa has typically sponsored more traditional sporting events such as the Olympics and the World Cup.
WhatsApp with WorldRemit
WorldRemit has added WhatsApp notifications to its service, providing alerts on status of transactions.
Consumers often miss information about transfer status in many remittance corridors because of the challenges of SMS delivery, according to WorldRemit, adding WhatsApp would provide another option for communication.
WorldRemit is also boosting its geographic reach, obtaining a license in New York to give it access to most of the U.S. market. WhatsApp has played a role similar to WeChat in introducing digital payments to new markets.
Gemalto goes to the bank for ID
Gemalto is testing its new "self-sovereign" digital ID on Corda, the bank-led R3 proprietary distributed ledger.
The ID will support e-commerce, payments, banking and government related services through the same due diligence and identity risk management process. Users will have more control over their their own data through Gemalto's "ID wallet," which is designed to decentralize authentication.
R3 is a rival to Ripple's blockchain, and Corda has the support of more than 200 banks and other parties, according to Gemalto's release.
CanPay and Safe Harbor Private Banking are partnering to offer cashless payments for legal cannabis dispensaries in Florida.
Consumers will be able to use a debit card to make payments, providing an alternative for a legal weed industry that still relies heavily on cash and is largely unbanked, though there are several initiatives underway to improve payments for cannabis.
CanPay uses ACH transactions and works with a network of about two dozen banks to operate a closed loop debit system. It has also worked with Safe Harbor in Hawaii.
From the Web
Brazil’s Cielo to sell mobile payment device in deal with telecoms
Reuters | Tue Sept 18, 2018 - Brazil’s largest payment processor, Cielo SA, will partner with wireless carriers Claro and TIM Participacoes SA to sell a new mobile phone that also functions as credit and debit card reader, a company executive said on Tuesday. Cielo is aiming its smartphone device at small merchants and service providers such as taxi drivers, a market dominated by PagSeguro Digital Ltda.
GovPayNow.com Leaks 14M+ Records
KrebsonSecurity | Tue Sept 18, 2018 - Government Payment Service Inc. — a company used by thousands of U.S. state and local governments to accept online payments for everything from traffic citations and licensing fees to bail payments and court-ordered fines — has leaked more than 14 million customer records dating back at least six years, including names, addresses, phone numbers and the last four digits of the payer’s credit card.
Government panel calls for sweeping changes to payments law
The Economic Times | Wed Sept 19, 2018 - A government-appointed committee has batted for sweeping changes to the legal framework governing payments and settlements, some of which could potentially trigger a fresh row between the Reserve Bank of India and the finance ministry. The panel has proposed the creation of an independent Payments Regulatory Board (PRB) and suggested replacing the central bank governor as chairperson with a person appointed by the government in consultation with RBI.
More from PaymentsSource
Can subscription payments adapt to a hybrid model?
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TransferTo, Stellar ready a blockchain for the unbanked
Singapore-based money transfer platform TransferTo is working with Stellar.org to facilitate low-cost blockchain-based cross-border remittances for underbanked.
Discover targets small businesses with 'it' rewards card
Discover Financial Services has launched a version of the Discover "it" card for entrepreneurs whose rewards and features compete more directly with small-business cards offered by Amex and Chase.
Amex, Mastercard invest in alt-credit marketplace Divido
Divido, a London-based retail finance marketplace platform provider, has raised $15 million in a Series A capital round that includes American Express and Mastercard as investors.