11.8.18 Your morning briefing
The information you need to start your day, from PaymentsSource and around the Web:
Starbucks is dramatically expanding its delivery service in China in anticipation of replicating the program in the U.S.
The coffee chain has been piloting the program in a collaboration with Alibaba food delivery subsidiary Ele.Me. Starbucks is also working with other Alibaba-linked companies such as Tmall, Taobao, Hema and Alipay in China. The pilot is active in 1,000 stores.
Starbucks also plans to expand in Japan by adding about 300 new stores, delivery via a partnership with Uber Eats and mobile order and pay and marketing through social networking company Line, the Seattle Times reports.
In addition to changing Congress, Tuesday's election also elevated several cryptocurrency friendly governors, reports Digital Asset Trade Association, a cryptocurrency advocacy group.
The lobby group's list of highly rated pols includes Gavin Newsom [D, Calif.], Jared Polis [D, Colo.], Mark Gordon [R, Wyo.], Gina Raimondo [D, R.I.] and Greg Abbott [R, Texas]; all of whom easily won their elections.
Unlike traditional finance, the politics around cryptocurrency are less clear. Generally considered a libertarian-friendly market, cryptocurrency has attracted praise from Newsom, a liberal Democrat; and a "deplorables" cryptocurrency from right of center populist Steve Bannon.
Australian fintech Inamo is formally launching its non-embedded EMV contactless wearable payment device in the U.S.
Originally designed for surfing and other water sports, Inamo has been working on its U.S. debut for several months.
Its wearable uses a microcard that is waterproof and designed to attach to most watches. Inamo supports merchants that accept Apple Pay and Google Pay.
PayPal's play for German SMBs
PayPal is expanding is Working Capital program to Germany in an effort to entice more merchants into its network.
PayPal is approaching businesses in Germany that are seeking fast access to credit, migrating away from traditional financial institutions. The service is called BusinessKredit.
Like PayPal's U.S. small business lending and other products from companies such as Square, BusinessKredit loans are paid off via future payments at the merchant.
From the Web
Here's What Mastercard's Chief Privacy Officer Thinks About GDPR
Fortune | Wed November 7, 2018 - Caroline Louveaux, Executive Vice President and Chief Privacy Officer at Mastercard gave the General Data Protection Regulation (GDPR) high marks. “There have been many benefits for us,” she said, adding that for the financial payments company, GDPR has “not been a revolution, more an evolution” thanks to Mastercard’s previous efforts and investment around privacy.
EU Court rules that Hungary's state monopoly over mobile payments is illegal
Reuters | Wed November 7, 2018 - The European Court of Justice ruled on Wednesday that the Hungarian state’s monopoly over national mobile payment services was illegal. The ruling would require the end of exclusive control over Hungarian mobile payments exercised since July 2014 by state-owned firm Nemzeti Mobilfizetesi Zrt.
Grab partners Thailand's KBank to launch e-wallet in 2019, gets US$50m investment from bank
The Business Times | Thu November 8, 2018 - Grab announced a partnership with Thailand’s Kasikornbank (KBank) to launch mobile payment application GrabPay by KBank. The mobile wallet, which is slated to be launched as soon as early 2019, will allow Grab customers to pay for transport and delivery services, transfer funds, purchase products and services online, and make QR-code payments in restaurants and shops across Thailand.
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