6.11.19 Your morning briefing
The information you need to start your day, from PaymentsSource and around the Web:
That's the ticket
About 39,000 people used the New York transit system's open loop contactless OMNY payments system during its first three days at the pilot locations, mostly along the Lexington Avenue subway line and Staten Island bus routes.
The MTA had projected about 13,500 people would use the system in its first three days, reports Gothamist, adding more than 36,000 were subway riders and about 3,500 were bus riders.
Apple, Google, Fitbit and Mastercard are all among the companies testing the new payment technology in New York, hoping adoption will create habits among users that are transferable to other kinds of payments.
European Payment software company Worldline and transportation system provider Trapeze have developed a hands-free system of payments for transit and other transportation systems as an alternative to the contactless technology that is gaining traction.
In the case of Worldline, the system uses Bluetooth to detect passengers when they enter a transport vehicle such as a bus or metro. This detection, along with transport system data, is used to create check-in and checkout taps, and link to a passenger account, without the user having to navigate an app on repeat rides.
Apple has also developed a low-navigation transit payment app that does not require biometric authentication.
Russia's Sberbank and McDonald's are partnering to place financial services and cards inside the fast food chain, and will also partner on payments technology and data analysis.
The bank and fast-food chain will develop a payroll payment system for employees, work on faster payments and handle card issuance, reports Russia Business Today. The collaboration also includes tracking consumer payment behavior.
Google Pay plans a feature that will allow users to view information and switch cards in the wallet by using a long press of the power button.
Called Cards and Passes, users will also be able to view loyalty cards and tickets, reports 9to5Google, adding the changes are designed to make the power menu more of a utility.
The features are hinted at as part of Android Q Beta 4, and cards will appear when the power button is long-pressed. Users can then swipe through the cards.
From the Web
Citi launches co-branded credit cards with Grab in push for more customers
The Business Times | Tue June 11, 2019 - Citigroup has teamed up with ride-hailing firm Grab to launch co-branded credit cards, as it looks to boost its Asian customer base by about 13 percent via partnerships with digital firms, a senior Citi executive said.
Ripple Launches Office in Brazil, Targets Further Expansion Across Latin America
Yahoo Finance | Mon June 10, 2019 - Ripple, the firm behind third-biggest crypto by market cap XRP, has launched a Brazilian office with the aim to expand across Latin America. The official announcement will be made at CIAB Febraban, a major fintech and banking event that will place in São Paulo from June 11 to June 13.
Uber is making a fintech push with a New York hiring spree
CNBC | Mon June 10, 2019 - Uber is expanding its financial services efforts by hiring several dozen engineers and product managers in New York, sources say. The goal is to create products that increase loyalty and engagement among users and drivers, including a possible bank account, the sources say.
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