7.13.18 Your morning briefing
The information you need to start your day, from PaymentsSource and around the Web:
It's gotta be the shoes
Nike is aggressively pushing new shopping technology, including adding NFC tags to jerseys. It's now opened a retail store that combines the store's mobile app and the brand's apparel line.
Called Nike Live, the concept store allows NikePlus premium members to reserve products in the app and have them placed in a locker inside the store, reports Geekwire. Nike is using AI to customize products and marketing at individual stores that open in the future.
Consumers will also be able to pay for items through the app, which allows a speedier checkout but falls short of an Amazon Go-style walk-out.
Mobile park and go
Mobile technology is proving adept at improving the airport customer experience, with Milan Bergamo Airport being the latest to deploy mobile services.
In this case it's smartphone-powered parking payments through a collaboration between the airport and the Jiffy feature from UBI Banca and SIA.
Users scan their license plates when entering the lot, then use their smartphone to pay when they leave, according to SIA.
Itochu Corporation and Goldman Sachs have invested $55 million in Paidy, a Japanese startup that allows consumers to make online payments without a card.
Consumers register for Paidy then make purchases via a phone number or email address with a SMS or voice verification code. Consumers then pay a monthly bill for purchases at a store that's part of Paidy's network, similar to PayNearMe, or through a bank transfer.
Paidy, which uses an internal engine to quickly underwrite and guarantee payments to merchants, reports it has 1.4 million accounts.
When a .150 average is really really bad
Initial coin offerings are often controversial, but even the most skeptical cryptocurrency critics would likely be surprised at how poorly the market has performed.
Only 15% of ICOs launched thus far wound up trading on a cryptocurrency exchange, reports Coindesk, citing data from Satis Group.
The research found 78% of ICOs were scams and 7% failed in some other manner. Other research from Boston College found more than half of token products became inactive within four months of the ICO sale.
From the Web
China central bank says cannot refuse, discriminate against cash payments
Reuters | Fri July 13, 2018 - Companies or individuals cannot refuse or discriminate against cash payments, China’s central bank said on Friday, but stressed the rules won’t apply to online payments and unmanned stores. In recent years, mobile payment firms such as Ant Financial’s Alipay, Tencent’s Wechat Pay have gained popularity, with some analysts speculating cash could soon become obsolete in China.
Walmart in Talks to Move Credit-Card Partnership to Capital One
The Wall Street Journal | Fri July 13, 2018 - Walmart Inc. is talking to Capital One Financial Corp. about taking over its store credit card, according to people familiar with the matter. The discussions, which are expected to wrap up in coming weeks, could end Synchrony Financial ’s nearly 20-year run as the exclusive issuer of Walmart cards. Synchrony has been Walmart’s exclusive credit-card issuer since 1999.
American Express is Eyeing Blockchain for a Proof-of-Payments System
CCN | Thu July 12, 2018 - Credit card giant American Express has filed a patent application for blockchain-based proof-of-payment technology. Throughout the past few months, we’ve seen the financial services company support the blockchain very publicly.
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