11.14.18 Your morning briefing
The information you need to start your day, from PaymentsSource and around the Web:
Breach train reaches Nordstrom
Nordstrom is telling staff a breach exposed employee names, Social Security numbers, account and routing numbers, salaries and other information, the latest in a long line of breaches to hit retailers over the past few years, harming brands and leaving consumers worried about security.
The retail chain did not release further details on the breach, and is informing affected staff, reports The Seattle Times.
The Nordstrom incident may involved an insider, as the company investigates improper data handling by a contract worker, The Seattle Times reports.
Wrestling with mobile pay
U.K. mobile payment provider PM Connect has contracted with Vodacom to support mobile payment sports and entertainment subscription services in Africa.
The services include wrestling organization WWE, which will provide subscriber content in Africa for the first time, reports British new site Insider media.
PM Connect will launch the service initially in South Africa, where Vodacom has nearly half of the mobile phone market, then expand to other African countries.
British transaction consortium Pay.UK is soliciting companies to contribute to an "enhanced data project" as part of the group's New Payments Architecture program.
The initiative will create standards and add more information to payments such as structured data to provide context and visibility, part of a trend toward social payments that can be found in apps such as Venmo.
This includes the reason for the payment, tax information, personalized messages or transaction details.
Flipkart CEO resigns after misconduct allegations
Binny Bansal is leaving his post as CEO of Indian e-commerce company Flipkart after an investigation into personal misconduct.
Walmart, which owns Flipkart, said Bansal denied an allegation of misconduct and the retailer could not corroborate the complainant's allegations. But the retailer said it found other lapses in judgement related to the situation, which led to Bansal's departure. Walmart did not provide details into what caused the departure.
Along with Sachin Bansal (no relation), Binny Bansal founded Flipkart in 2007, and the two Bansals reportedly favored Walmart's $16 billion acquisition offer over other suitors. Sachin Bansal left the company after the deal.
Hackers broke into Target's Twitter account as part of a bitcoin scam that has become more common.
The crooks made fake accounts of Elon Musk, which is counter to Twitter's terms of service, reports The Verge. The accounts lure users with requests to send bitcoin to receive a larger amount.
In the case of Target, the hack resulted in a fake ad that The Verge reports was "promoted," suggesting it had gotten past Twitter's vetting process.
From the Web
Has the Number of UK/US Businesses That Use Cryptos as Payment Gone Up?
TechBullion | Tue November 13, 2018 - The UK is reportedly well-positioned to be a global leader in the crypto economy, as the digital currency moves from strength to strength in popularity. These days, people in business want trust and certainty, especially in the UK where moments like Brexit are occurring.
11/11 shows biometrics are the norm for payments in China
TechCrunch | Tue November 13, 2018 - On November 11, Alibaba wrapped up Singles’ Day – the world’s largest shopping event – and hauled in $30.8 billion in total transactions, a staggering amount bigger than Cyber Monday and Black Friday combined. Instead of frantically inputting payment passwords to grab deals, Chinese users jumped on new technologies to shop in the blink of an eye.
Three major tie-ups in digital finance and payment services
The Straits Times | Tue November 13, 2018 - Partnerships and collaborations were coming thick and fast on the first day of the Singapore FinTech Festival yesterday. Three major ties-up were announced as start-ups and blue-chip companies look for ways to reap rewards in the fast-changing area of digital finance and payment.
More from PaymentsSource
Former Lloyds exec to head Swift U.K. operations
A former Lloyds Banking Group executive is joining financial messaging service provider Swift as its head of U.K., Ireland and Nordics operations.
Will Amazon's new HQs fast-track modern transit payments?
Amazon’s transit-friendly posture should provide momentum for digital ticketing and other subway improvements in Queens, N.Y., and northern Virginia — and if recent history is any indication, Amazon may take an active role in improving that infrastructure.
Fintonic to offer interest-free loans for Amazon shoppers in Spain
The Madrid-based personal financial management provider Fintonic has partnered with Amazon to offer its Spanish customers a zero percent installment loan for purchases made on Amazon.es.
Poynt raises $100 million in funding from Elavon, National Australia Bank
The payment terminal maker Poynt, a rival to Square and other hardware providers with customized software applications for merchants, has raised $100 million in a Series C funding round with strategic partners Elavon and National Australia Bank.