Morning Brief 8.28.20: Mastercard patents payment tech for maker spaces

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3D patent

Mastercard's Singapore-based office has filed a patent for a billing system designed to simplify payments for merchants, developers and individuals using shared hardware devices.

Often called a "maker space," the term refers to venues with 3D printers, laser cutters and other devices that parties with shared interests use for development. Mastercard's system uses a distributed ledger to simplify the complex payment process, reports Blockchain News.

The ledger would permit users to provide payment credentials to use a shared device, then be billed based on the amount of usage.

Stability

Sygnum Bank's digital Swiss Franc (DCHF) has executed an e-commerce payment on Galaxus, a Swiss online retailer, a rare use of a bank-issued stablecoin for a direct payment.

The value of the DCHF is 1:1 to the Swiss Franc, and no intermediaries were involved, allowing a real-time payment, reports Finextra.

That's designed to reduce cost for online retailers, which don't have to use card systems, and allows for faster processing.

Not cooking with gas

The Centre Consortium, a Circle and Coinbase-supported crypto standards consortium, will enable dollar stablecoin transactions without paying a fee to the Ethereum network.

Called USDC 2.0, it circumvents the mining costs that accompany Ethereum transactions, often referred to as virtual gas stations, reports Coindesk, adding the update allows people to use DeFi apps without having to own Ethereum.

The transactions are designed to work like a cryptocurrency version of a digital P2P app. Visa recently granted Coindesk principal membership, making it easier for the cryptocurrency company to add new financial services.

Northern installment

Point of sale credit firm Afterpay has launched in Canada, launching with a base of fashion and lifestyle brands that include Ardene, BikeExchange and American Eagle at launch.

Afterpay competes with firms such as Klarna, Splitit, Affirm and banks that support point of sale credit. The buy now, pay later market has grown quickly during the pandemic and subsequent financial crisis as consumers look to avoid revolving debit for larger purchases. Afterpay reported 12 million app and U.S. site visits, and 9.5 million lead referrals to U.S. retail partners in July.

Afterpay recently attracted investment from Ant and acquired Pagantis to expand in Europe.

From the web

Exclusive: Facebook says Apple rejected its attempt to tell users about App Store fees
REUTERS | Friday Aug 28, 2020
Facebook Inc on Thursday told Reuters that Apple Inc rejected its attempt to tell users the iPhone maker would take a 30% cut of sales in a new online events feature, forcing Facebook to remove the message to get the tool to users.

Berbix raises $9M for its identity verification platform
TECHCRUNCH | Thursday Aug 27, 2020
Berbix , an ID verification startup that was founded by former members of the Airbnb Trust and Safety team, today announced that it has raised a $9 million Series A round led by Mayfield. Existing investors, including Initialized Capital,

Musk confirms Tesla Nevada factory was target of 'serious' cyberattack
REUTERS | Thursday Aug 27, 2020
Elon Musk said on Thursday that Tesla Inc's factory in Nevada was a target of a "serious" cybersecurity attack, confirming a media report that claimed an employee of the company helped the Federal Bureau of Investigation(FBI) thwart the attack.

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