Morning Brief 1.3.20: Samsung deploys AI-powered ordering in refrigerators

Register now

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

Chilled AI

Samsung has launched a new version of its web connected Family Hub refrigerator line that uses machine learning to scan products inside the refrigerator to send alerts for automatic reordering.

The AI also combines with recipe and meal-planning features in an attempt to streamline embedded shopping and purchases, reports VentureBeat, adding the refrigerators also have improved synergies with Samsung's smartphones, TVs and other mobile devices.

The Family Hub has served as an ordering and payment portal for FreshDirect and Mastercard.

Not open

Australia is pushing back its open banking initiative because of worries over securing data as it moves among parties.

The government's new target date for the Consumer Data Right Act is July 2020 instead February for payment cards, deposit and transaction data, reports Finextra. The deadline for data sharing for mortgages and personal loans will be November.

While open banking is expected to boost digital transactions such as P2P transfers, delays aren't unusual. Europe's PSD2 standards have been delayed, partly due to a lack of compliance with new authentication guidance.

FX target

Travelex suffered a malware attack, causing it to temporarily shut some digital services to contain the damage.

The attack caused stores to manually process currency exchanges, reports TechCrunch, adding Tesco Bank and other partners suffered related outages.

Travelex contends no data was compromised during the attack, though it did not release details on the type of malware, citing an ongoing investigation.

Libra pressure

Jens Weidmann, a policy maker for the European Central Bank, is pressuring banks to improve payment technology as a counter to Facebook's Libra and other non-bank initiatives.

Weidmann did not call for a central bank digital currency, reports German newspaper Handelsblatt. The EU is in the early stages of a possible central bank digital currency project.

Wiedmann's warning comes shortly after Christine Lagarde, president of the European Central Bank, suggested Facebook may use its social network to promote Libra over other currencies.

From the Web

Bitcoin Rebounds Sharply Following U.S. Strike On Iran’s General Qasem Soleimani
FORBES | Thu January 2, 2020
The bitcoin price has bounced from its earlier lows following news the head of the Iranian Revolutionary Guards' elite Quds Force, general Qasem Soleimani, has been killed by U.S. forces in Iraq. The bitcoin price leaped around 4% to back over $7,000 per bitcoin and was seen trading at $7,265 on the Bitstamp exchange before falling back slightly.

Change your password: Poloniex cryptocurrency exchange reveals data leak
ZDNET | Thu January 2, 2020
The Poloniex cryptocurrency exchange has enforced a password reset for account holders following a data leak across social media. A very common form of scam is known as phishing, in which fraudsters will send fraudulent emails while disguising themselves as legitimate companies.

Big Tech will push deeper into finance this year — but avoid the ‘headache’ of being a bank
CNBC | Fri January 3, 2020
Technology giants from Google to Apple are looking to take on the financial services industry. Last year, Apple debuted its credit card; in 2020, Google is set to launch consumer bank accounts. But Big Tech companies share one thing in common: they don’t want to be regulated like banks.

More from PaymentsSource

Why a maker of gaming tech wants a digital banking license
In its proposal to obtain one of the full digital banking licenses Singapore will award later this year, online gaming company Razer has laid out the gaps between what traditional banks offer and young adults need.

Libra is redundant to existing cryptocurrency systems
As 2019 fades, it’s fascinating to realize that one of the biggest stories in the payments industry came from a company traditionally outside of it – Facebook.

The 'crowd' can bridge the gap until drone delivery's affordable
Robots and drones to execute the last mile for retailers may well be our future, but how do we solve the delivery challenges we have today? That’s where crowdsourcing comes in.

Jack Ma’s Ant Financial seeks digital banking license in Singapore
Billionaire Jack Ma’s Ant Financial has applied for a digital banking license in Singapore, as China’s largest online financial platform steps up efforts to expand outside the mainland.

Razer joins Singapore’s digital banking race
Gaming company Razer Inc. has teamed up with homegrown Singaporean entrepreneurs and Asian billionaires to apply for a full digital banking license, joining the race to create virtual lenders in the city state.

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