5.01.18 Your morning briefing

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

Mastercard's faster blockchain
Mastercard has been filing for blockchain-related patents for about six years, with a new filing covering data manipulation to improve blockchain navigation.

That would make it easier to verify a large number of blocks and shorten the time required for a new node to participate in the blockchain.

Mastercard has been experimenting with blockchain through internal efforts and APIs, with a particular focus on B2B payments.
Opening up
The PSD2-spurred wave of open banking applications is accelerating, with 87% of banks globally planning to add open application programming interfaces, according to ACI Worldwide and Ovum.

The companies say the expansion of real-time payments and mobile apps is driving the trend toward open APIs, which are designed to make it easier for banks and mobile commerce companies to communicate and share data.

The study also showed an emphasis on real-time payments has doubled to 62% from 31% over the past year.

New Southeast Asian ride hailing wallet
Bangladeshi ride-hailing app Pathao plans a mobile wallet that's designed to reduce cash payments, reports local news service Sangbad.

Pathao hopes to replicate the success of Grab, a Singapore-based ride sharing app that has gradually added more financial services and marketing programs; and Go-Jek, another ride hailing company that has made an investment in Pathao.

Bangladesh is tough market, where The World Bank estimates extreme traffic costs country 3.2 million working hours each day.

Former Swift exec joins Mansion
Mansion House Consulting, which specializes in fintech and payments technology, has hired former Swift executive Jitu Parmar as a strategic advisor.

Parmar will be based in MHC's London headquarters, but will work globally.

His tenure at Swift included work on customer security, cyber protection and foreign exchange technology and risk for the Americas, U.K. and Nordics.

From the Web

Italian payments firm Nexi sees market listing as likely outcome
Reuters | Mon Apr 30, 2018 - Italian banking services provider Nexi sees a future market listing as a likely outcome, although this will not happen in the immediate future, its chief financial officer said on Monday. The company, which runs electronic payments for credit card operator CartaSi, said earlier it had received the go-ahead to split in two — one company to manage payments and the other to concentrate on traditional depository and settlement bank business.

Mexico central bank says possible cyber attack targets payment systems
Reuters | Mon Apr 30, 2018 - Mexico’s central bank said on Monday it was investigating an apparent attempt to hack into the payment systems of at least three local financial institutions, but no funds were stolen. Connections to the central bank’s payment system at two banks and a brokerage were compromised, said Lorenza Martinez, head of the central bank’s own payment system.

Indiana City to Begin Accepting Debit Cards for Payments
U.S. News & World Report | Mon Apr 30, 2018 - Indiana's oldest city will soon accept debit cards as a way to pay parking tickets, rental fees and city services. Vincennes officials signed a contract last week with PayGov, an online service that lets government entities process electronic payments, The Vincennes Sun-Commercial reported.

More from PaymentsSource

Desperate for a payments market, cryptocurrency turns pro-regulation
Given the scant use of cryptocurrencies for payments relative to their use for investment, some companies are rooting for the kind of government oversight and monetary policy that used to be considered an assault on the alternative currency movement.

A Delaware firm taps blockchain to breathe life into Asia's open commerce push
A Delaware company's plotting to use blockchain to blow the lid off of supply chain inefficiencies and be the main catalyst behind Asia's burgeoning open markets and electronic payments initiative.

Why PayPal is preparing for the next Google Glass
PayPal is dusting off the idea of conducting commerce augmented reality glasses, a concept that fell flat five years ago. But a half decade is an epoch in technology time, enough to reevaluate the competitive necessity of AR payments.

Swift getting Asia-Pac banks on board for cross-border, real-time payments
The Society for Worldwide Interbank Financial Telecommunication has its sights set on expanding real-time payments in the Asia-Pacific region as part of its plan to further its first value-add service created from the Global Payments Innovation initiative.

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