Morning Brief 9.9.19: Paytm makes a play for students with payment/ID card
The information you need to start your day, from PaymentsSource and around the Web:
Paytm plans a range of services for students, such as insurance and a debit card that can be used for ID, attendance and as a library card.
The student card is part of a larger plan to provide a coaching marketplace, exam forms and college admissions built off of payment products, reports TechCircle, a local Indian publication. The cards will be co-branded with the universities.
Paytm also recently made a move to expand its payment acceptance and related services in India's health care industry.
Meanwhile, Sonia Dhawan has taken an executive communications position at Paytm First Games, a collaboration between Alibaba and One97, Paytm's corporate parent.
There's a bit of intrigue here, as Dhawan used to be an executive at Paytm, and was accused in an extortion plot against Paytm founder Vijay Shekhar Sharma, reports YourStory, another local Indian publication, which adds the investigation into that case is still incomplete.
Dhawan denied the accusations, which claimed she and accomplices stored data belonging to Sharma and tried to get him to pay to release the data.
$4 billion served?
McDonald's is adding GrubHub to make deliveries in New York as the fast food chain adds partners after ending its exclusive relationship with Uber Eats.
McDonald's wants to make delivery a $4 billion business in 2019, reports CNBC. The initial deployment will be 500 New York locations, in a market where GrubHub has a 71% market share for deliveries, according to CNBC.
UberEats was McDonald's only partner when it commenced delivery in 2017, and McDonald's started to add other collaborators earlier in 2019, including DoorDash.
Business payment company Fleetcor and its fuel and parking technology subsidiary Sem Parar are working with Nissan to install RFID tags on Nissan vehicles manufactured in Brazil, with a total of about 50,000 cars per year.
The tags will support payments at Brazilian merchants that accept contactless payment, as well as toll booths, 650 gas stations and 300 drive-thrus.
Fleetcor earlier this year agreed to acquire Nvoicepay to diversify its business lines beyond fuel payments for fleet clients.
China's digital currency chief has provided details about the country's upcoming digital currency, including a critique of Facebook's Libra.
The digital yuan won't require an account and can transfer funds without a mobile or web network, reports CoinDesk, which cited Shanghai Securities News. Digital currency can also be transferred by touching two phones together, likely using NFC, something Changchun Mu contends Libra can't do. Mu is a former payments executive at the People's Bank of China is now leads the Digital Currency Research Institute.
The contention is likely bragging, given Libra doesn't exist yet and there hasn't been a lot of details released about how Facebook's coin will work — and the role of its partners.
From the Web
Why Mastercard is betting on middle school girls to detect cyberthreats and protect our personal data
CNBC | Sat September 7, 2019
According to the Center for Cyber Safety and Education, unfilled cybersecurity jobs are expected to reach 1.8 million by 2022, up 20% from 1.5 million in 2015. Mastercard is trying to change that, by showing 1 million middle school girls worldwide that they have what it takes to play a role in the technology landscape of the future.
U.S. Treasury says Cuba remittances cap will not apply to private sector
REUTERS | Fri September 6, 2019
The Trump administration published new limits on money transfers to Cuba as part of tighter U.S. sanctions on the island, but the previously announced rules allow funding for private businesses, and pro-democracy and citizen groups.
Two years after huge Equifax breach was revealed, consumers are still too vulnerable to identity theft
CNBC | Fri September 6, 2019
Two years after the announcement of the massive Equifax breach — a cyberattack that compromised the personal information of about 148 million people and recently led to a $700 million court settlement — consumers are still falling short in their efforts to make sure they aren’t the victims of fraud, according to a new survey by CompareCards.com.
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