Morning Brief 8.30.19: Paytm plots move into mobile health care payments

Register now

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


Paytm is planning a mobile health care payments venture, attacking one of the more difficult transaction types to automate given the complex mix of consumers, billing and third parties involved in health care payments.

The platform will use QR codes, with the belief that it's the most usable form of contactless payments, reports inc42. QR codes will be placed at medical facilities, similar to Paytm's strategy to build payments at India's local kirana stores.

Paytm has diversified rapidly over the past year, adding entertainment services, education payments and staff to accommodate expansion of its Paytm Mall unit.

Amazon fire

U.K. payments and financial services fintech Revolut is collaborating with the WWF and The Rainforest Alliance to provide a digital payment rail for donations to fund the firefighting effort in the Amazon rainforest.

Revolut's in-app Donations feature allows users to round up digital card payments and donate the difference. The donations in this case will fund medical assistance, firefighters and other safety measures.

As cash and check usage declines, digital payment processing has proven to be a useful way to remove friction from charitable giving by creating a more direct route between the donor and the cause.

Mobile money

Johannesburg-based mobile provider MTN is launching a mobile money service in Nigeria, bringing a successful financial inclusion model to its largest market.

MTN earlier released a mobile money service in Ghana, reports Africa News, adding the Nigerian deployment includes transfers and other payments through mobile phone connections.

Safricom's MPesa is the most widely known mobile money service, which has been in operation in Africa and other emerging markets for years, attracting partnerships from Alipay and Western Union.

Building block

PNC has gone live on RippleNet, giving the blockchain company a major win in its effort to build a real-time cross-border payments network that includes large U.S. banks.

The bank had been working on its connection to Ripple for more than a year, and the deployment will allow consumers and businesses in the U.S. to receive real-time payments from outside the country.

Ripple has also partnered with MoneyGram and other global financial institutions to execute cross-border transactions without requiring third parties such as correspondent banks.

From the Web

Juul introduces new POS standards to restrict sales to minors
TECHCRUNCH | Thu August 29, 2019
Juul Labs, the e-cigarette behemoth partially owned by Altria, has today announced a new POS age-verification system that it will require all Juul retailers to comply with by May 2021. The Retail Access Control Standards program, or RACS for short, raises the standard for age-restricted POS systems, automatically locking the POS each time a Juul product is scanned until a valid, adult ID is scanned.

‘Legend of Mir’ Game Maker Inks Agreement for Blockchain Payments
COINDESK | Thu August 29, 2019
Wemade Tree, a subsidiary of the game company behind the Legend of Mir series, has signed an agreement with Linka, a local blockchain payments provider. The companies will cooperate so that Wemade Tree’s blockchain gaming platform will be able to process wallet payments via Linka’s gateway.

France’s antitrust cop is wary of new actors in online payments, 'killer acquisitions'
THE BUSINESS TIMES | Fri August 30, 2019
France's Isabelle de Silva may be about to become Europe's most feared antitrust regulator as Margrethe Vestager's term as European Union (EU) competition commissioner winds down. Ms de Silva, 49, was picked to head France's antitrust arm in 2016 and immediately grabbed headlines fining firms owned by billionaire Patrick Drahi.

More from PaymentsSource

How Google Pay morphed into a customer service tool
CHICAGO — It took a few years for mobile wallets to get past the aura of just a "cool technology" looking for a problem to solve, but Google Pay and its peers are clearly finding their niche as a way to embed payments with customer engagement tools.

Why debit card use is on the rise—but so is fraud
Debit cards often lack the rewards and spending power of credit cards, and thus do not figure prominently in TV ads or direct mail flyers. Yet despite these limitations debit cards are beloved by millennials and anyone else who wants to avoid credit card debit. They are the power behind Venmo transactions and are now the preferred method for paying at the gas pump.

Neuroscience giving banks a chance to detect both fraud and friction
With the Federal Reserve last month citing synthetic identity fraud as a growing concern for financial institutions, there's more pressure to detect fraud at the start of the relationship.

Startup caters to millennials tired of paying in cash 'like a gangster'
When Kristy Kim came to the U.S. from Seoul, South Korea, to attend the University of California, Berkeley, she paid for everything with a debit card.

For reprint and licensing requests for this article, click here.