11.30.18 Your morning briefing
The information you need to start your day, from PaymentsSource and around the Web:
Faster payments hardball
Paytm is in a fierce competition with outside companies such as Mastercard and Visa to migrate India's huge consumer and merchant base to electronic payments, and it's offering an extra carrot to get an edge.
Paytm is offering instant bank settlement for merchants that support Paytm QR payments at physical stores. This covers about 10 million merchants, reports TimesOneNews, adding these merchants will be able to settle payments at a time of their choosing.
Paytm's battle with outside payment companies has also extended to local politics, with the companies lobbying on opposite sides of India's data storage rules.
The heart of Poland
Fresh off of opening a fintech hub in Sydney, Mastercard has dropped anchor in Poland with a startup factory that it will operate with Polish innovation center The Heart.
The factory plans to launch five companies in the next year in fintech, insurtech and retailtech, reports Finextra.
Mastercard also plans to have its other global technology hubs work with Heart Ventures to build global payment technology.
Ready for Asia
As it preps to launch in the U.S., London-based payment technology company Revolut is also laying groundwork for a deep dive into Asian markets.
The company has earned licenses to operate in Singapore and Japan ahead of a planned launch in early 2019, reports TechCrunch.
In Singapore, Revolut users will be able to store funds and send money, while in Japan Revolut has a green light from the country's Finance Service Agency.
Movie ticketing company Sinemia is adding a debit card option to cut some costs related to its core online service.
The problem began when the company introduced cardless ticketing, which resulted in online service and processing fees of nearly $2 per ticket. That diluted the value proposition for some users, reports Engadget, which noted that Sinemia also has a subscription cost.
Sinemia's debit cards will remove the convenience and processing fees when used at the theater, but will still carry fees for online purchases, according to Engadget. The cards will cost $15.
From the Web
Dunkin' Donuts warns customers of data breach
ABC News | Thu November 29, 2018 - Dunkin' Donuts has issued a warning to its "DD Perks" customers after they say a third-party might have gained access to their account information. "Although Dunkin' did not experience a data security breach involving its internal systems, we've been informed that third-parties obtained usernames and passwords through other companies' security breaches and used this information to log into some Dunkin' DD Perks accounts," said the company in a statement.
Ohio 'rolls out the red carpet' for blockchain businesses by accepting bitcoin this tax season
CNBC | Thu November 29, 2018 - Ohio has a message for blockchain enthusiasts: The Buckeye State wants your business. That memo was a key driver of the state's decision to accept bitcoin for taxes, Ohio's state treasurer Josh Mandel told CNBC this week.
Ant Financial names new president amid Alibaba management reshuffle
China Daily | Thu November 29, 2018 - Ant Financial Services Group has appointed Simon Hu, former head of Alibaba Cloud, as its president, the latest follow-up in Alibaba’s organizational restructuring announced three days ago. Hu will report to Ant Financial Chairman and CEO Eric Jing, the fintech giant said in a statement Thursday.
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