6.5.19 Your morning briefing

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

Opening up
PayPal has become a strategic investor in Tink, a European open banking platform, giving PayPal a venue to comply with PSD2 and other market developments that impact data management and ties between fintechs and banks.

Based in Sweden, Tink offers account aggregation, and it has adjusted its strategy to sell opening banking technology to financial institutions, reports TechCrunch.

As part of its $11.2 million investment, PayPal will also collaborate with Tink to use the latter's account aggregation to upgrade PayPal's products, which could include improving navigation for tasks such as onboarding, balance queries or budgeting.
Mastercard's hub
Mastercard has formally launched a set of PSD2-related tools to build on work the card network has done over the past couple of years to prepare for open banking.

The card brand's services include a single connection to banks' open banking function, centralized dispute resolution and support for banks that are building an open banking strategy.

Mastercard began work on the open banking tools in 2018, and more recently has added collaborations with technology companies such as Token to connect merchants and other third parties to banks in Europe. In this week's announcement, Mastercard noted it has added Kikapay, Streeva, Tribe Payments and Alior bank as partners.

Soap box
Las Vegas-based startup Axel has debuted a digital wallet that's designed to use a hash explorer, or a transaction tag that is linked to decentralized data to manage authentication risk.

Axel calls this process Secure/Organize/Authenticate/Protect (or SOAP), which attaches information from product warranties, software licenses, contracts or other information to a transaction to vet authenticity.

The product's initial features are a full cryptocurrency wallet, asset storage and peer-to-peer transactions.

Yes to password dumping
New digital identity technology initiatives are underway globally as payment companies, banks, processors and other businesses attempt to move away from passwords.

One of the main challenges is interoperability, something a pair of companies are trying to address by opening an identity network in Germany. Digital ID firm Signicat is adding its network of identity technology to yes.com, an open scheme that's aimed at banks, businesses and consumers.

Yes.com will make online banking logins a universal identifier for any other company that participates in the yes.com network, which will launch in the coming weeks with about 35 million members in Germany.

From the Web

Alipay has tripled its merchants in Europe amid ‘booming’ Chinese tourism market
CNBC | Tue Jun 4, 2019 - Alipay is making big inroads in Europe as Chinese tourists flock to the region, according to the leader of the Chinese firm’s European division. Roland Palmer, head of Europe for Alipay, told CNBC on Tuesday the company has tripled the number of European merchants accepting its online and mobile payment platform to “tens of thousands” in the past year.

‘A new era in commerce’: Amazon Pay VP says voice payments potential is ‘phenomenal’
CNBC | Tue Jun 4, 2019 - The vice president of Amazon Pay believes consumers paying for goods with the sound of their voice will revolutionize the commerce industry. Speaking to CNBC’s Elizabeth Schulze at the Money 20/20 conference in Amsterdam on Tuesday, Amazon Pay VP Patrick Gauthier said voice payments would represent a “new era in commerce.”

HSBC rolls out digital wallet to lure start-ups
Financial Times | Wed Jun 5, 2019 - HSBC has quietly launched its first digital wallet targeting start-ups and other small businesses in Hong Kong in an effort to fend off intensifying competition from Tencent and Alibaba in its most lucrative market.

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