7.3.18 Your morning briefing
The information you need to start your day, from PaymentsSource and around the Web:
Machine learning experts wanted
To address India's quickly automating payments industry, PayPal is adding to its force on the ground.
EconomicTimes reports PayPal will hire 600 programmers in India by the end of the year, including application developers, data engineers, data management experts and product managers.
The hires will also be charged with finding new uses for machine learning and artificial intelligence. PayPal's headcount in its two centers in Chennai and Bengaluru has already doubled to 1,700 in the past two years.
Building up in Brussels
Oracle is collaborating with local startup supporter B-Hive to build a fintech innovation program in Belgium.
The center, which will be in Brussels, will focus on solutions for banking, payments and other financial technology.
While the move is not a direct result of Brexit, the choice is a setback for the U.K., given concerns over the the U.K.'s loss of technology status when it leaves the European Union, reports Finextra, which adds London would have been a logical choice in the pre-Brexit environment.
Former Amex exec joins Walmart
Walmart has hired Janey Whiteside to be its executive vice president and chief customer officer for the U.S. and e-commerce, reports TalkBusiness.
Whiteside had been at American Express for about 20 years in roles such as international pricing, relationship management and global products and services.
At Walmart, she will focus on expanding Walmart's appeal with younger consumers and loyalty programs.
Concardis hires former Vodafone exec
Peter Walz will become the chief sales officer for Concardis Payment Group as it merges with Nets to boost digital payments in cash-heavy Germany.
Walz was formerly managing director of retail sales for Vodafone Germany, where he oversaw the company's digitization process and managed more than 2,000 employees.
At Concardis, he will focus on automating sales and the company's outreach to small to medium sized businesses.
Blockchain's evolution as a financial security tool has reached Russia, where the Ministry of Defense is forming a research unit to determine how blockchain can prevent cybersecurity attacks.
Coindesk reports the Russian military wants to find out how good blockchain is at preventing unauthorized users from hiding evidence of unauthorized access to account systems by erasing access logs.
From the Web
Tencent’s WeChat widens service fee for users of ‘card repay’ feature in digital wallet
South China Morning Post | Mon Jul 2, 2018 - WeChat, China’s largest social platform with around 1 billion users, will expand fees for users who pay their credit card bills via the “card repay” service within WeChat Wallet, bringing the era of free-of-charge services for mobile payments closer to an end. WeChat, which is operated by Chinese internet giant Tencent, will begin charging a fee of 0.1 percent on credit card repayment amounts from August 1.
Russian payments provider Qiwi launches crypto investment bank: Report
EconoTimes | Mon Jul 2, 2018 - Qiwi Blockchain Technologies, a subsidiary of Russian payment service provider Qiwi, has launched a crypto investment project, Kommersant reported. Dubbed “HASH,” the project marks the first crypto-investment bank in Russia. It is built on a classic investment banking model and involves the search, assessment, market entry of quality projects, aimed at attracting large investors.
BBPS set to unleash major changes across payments ecosystem
LiveMint | Tue Jul 3, 2018 - The Bharat Bill Payment System (BBPS) has been designed as a system that can address such issues. It functions as a central switch. Once a biller connects into BBPS, s/he can accept bill payments from any BBPS customer touch point.
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