6.27.18 Your morning briefing
The information you need to start your day, from PaymentsSource and around the Web:
Paytm goes to the movies
Paytm is expanding its mobile payments app into new media markets, a move that includes expanded ticketing for entertainment.
One97 Communications, which owns Paytm, has invested about $9 million in the payment company's Paytm Entertainment unit to boost its partnerships with cinema chains and other entertainment venues, reports TheNewsMinute. That's on top of the $30 million One97 paid to acquire the TicketNew app earlier this year to enter the ticketing business--an acquisition it rolled into Paytm Entertainment.
As part of a goal to sell and process payments for 100 million tickets in 2018, Paytm has also been pushing collaborations with movie production studios and is also becoming involved in marketing films.
Google's short of a full deck in Germany
A quartet of financial institutions is supporting Google Pay's foray into the German market, but not all cards are available at launch.
Wirecard, Comdirect, Commerzbank and N26 support Google Pay, reports Android Police, which notes consumers will need to link a compatible card to the mobile wallet app.
All Mastercards are supported and a majority of Visa cards, though American Express, girocard, Visa TUI, Visa Deutsche Bahn and Visa Tchibo Plus cards are not, according to Android Police. Commerzbank's corporate and business credit cards are also not supported.
TSYS will collaborate with Eye Care Leaders, a technology company that serves eye care practices.
Under the deal, TSYS will provide processing for Eye Care Leaders' network and integrate with software that supports office workflow for eye care centers.
The move will boost TSYS' addressable market by more than 8,000 optometry and ophthalmology clients, according to a release.
European committee counters BIS' warning on crypto
Central bank-backed digital currencies can help stabilize the financial system, according to the the European Parliament's Economic and Monetary Affairs Committee.
While bitcoin and other decentralized cryptocurrencies lack the scale to replace traditional currencies, central-bank digital coins could be a stable alternative to a fractional reserve banking system, Finextra reports.
The report takes the opposite view of the Bank for International Settlements, which warns cryptocurrencies could damage both the internet and the environment, and advises central banks to avoid the sector altogether.
From the Web
Supreme Court Deals Setback To Apple Pay
Forbes | Tue June 26, 2018 - Apple Pay is one of the few strategic initiatives that has the potential to significantly increase Apple's stock price. But, the Supreme Court's decision makes it harder for Apple Pay to win over credit card users.
Singapore’s gaming-to-shopping company Sea to develop more games, financial services to strengthen internet ecosystem in Southeast Asia
South China Morning Post | Tue June 26, 2018 - Singapore-based gaming and e-commerce company Sea plans to develop more of its own games and offer financial services as the firm looks to strengthen its ecosystem of services in Southeast Asia. The company, which is one of Southeast Asia’s biggest gaming firms, has traditionally published game titles in the region on its Garena platform, including the international version of Tencent’s wildly popular game Honour of Kings, known as Realm of Valor in Thailand.
China's Ant Financial is not looking to ‘buy’ technology, says executive
CNBC | Tue June 26, 2018 - Ant Financial's Doug Feagin says the impact on the company of a potential restriction on Chinese investment in U.S. technology companies is likely to be limited Speaking with CNBC, Feagin said the company has built its existing platform based on its existing customer base and is not looking to "buy" technology Feagin stressed the importance of local partnerships as the company expands overseas.
More from PaymentsSource
HSBC's robot banker picks security over payments
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The piping hot market for mobile pizza payments
When it comes to the pizza industry, online and mobile ordering has generally been the province of chains like Domino’s, Pizza Hut and California Pizza Kitchen. But smaller shops are looking to get a slice of this market.
Grab’s evolution beyond ride hailing reaches new markets
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IoT and omnichannel mean faster pay's not enough for acquirers
Merchants don’t stick to the binary simplicity of online and offline anymore. They are reaching their consumers through a wide array of channels including mobile, kiosks, chatbots and call centers, writes TJ Sharkey, senior vice president of financial institutions, acquiring and processing at Mastercard.