Stripe adds Mindbody; Huawei's new phones support digital yuan

Register now

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

Home audience

Stripe has partnered with Mindbody, a technology platform that serves gyms, spas and other wellness businesses, adding a digital payment option for both in-person and remote sessions.

Companies in this category have been hard hit during the pandemic, and are often among the businesses subject to closures. As a result many have turned to online classes, with consumers participating at home with instructors in-studio, or a hybrid, according to Stripe.

The Mindbody integration will go live in Canada and Europe initially, with the U.S. and other markets to follow. Stripe has been using new investment in 2020 to expand to different business categories that typically have not operated online.

Aqua man

BBVA's marketing campaign to sell the safety of its "blank" credit card includes an executive showing his own card on a billboard in Madrid.

Jaime Bisbal, the bank's marketing director, is featuring the bank's Aqua card in his outdoor display ad, reports Finextra. The rewards-based card does not have numbers, expiration dates or CVV on the card, but hides those details in a mobile app. The card is available in Turkey and is scheduled to be released in Spain within the next few weeks.

Banks have tried several options to replace the static CVV code to improve security, such as testing dynamic codes that automatically change periodically.

Digital phone

Huawei plans to support China's central bank digital currency on new phones by adding hardware security and privacy protections.

The upgrades will cover the Mate 40 line of devices and signal China's CBDC is approaching launch, reports Coindesk. The government also recently gave away 10 million digital yuan in Shenzhen.

China's central bank digital currency will be among the first to launch. The Bahamas' Sand Dollar was the first to launch in October.

Payday glitch

TSB has suffered an outage that left consumers and business clients temporarily unable to execute payroll transactions in line with the end-of-the-month biweekly cycle for most companies.

Customers also could not access payment details, reports The Mirror, which reported hundreds of customers had lodged complaints on social media.

It's the second major outage for the U.K. bank in a year. It suffered an outage simultaneous with Barclays and HSBC in 2019 that also resulted in millions of consumers being unable to access their salaries.

From the web

Walmart’s PhonePe zips past Google Pay in India as UPI tops 2B monthly transactions
TECHCRUNCH | Monday, November 2, 2020
UPI, a four-year-old payments infrastructure built by India’s largest banks, surpassed 2 billion transactions last month, exactly a year after hitting the 1 billion monthly transactions milestone.

Hong Kong’s fintech development could push city’s position as global financial center, official says
CNBC | Monday, November 2, 2020
SINGAPORE — For Hong Kong’s financial technology ecosystem to grow further, the city needs more measures in the areas of funding, talent and regulation, according to a top official from the Chinese city.

India's Future Retail says Amazon dispute order not binding on company
REUTERS | Monday, November 2, 2020
India's Future Retail Ltd (FRL) said on Sunday that a Singapore arbitrator's order in its dispute with Amazon.com Inc is not enforceable under Indian law and not binding on the company.

More from PaymentsSource

Open banking's a gift, not a threat
Businesses are looking for banks to help them shed paper and automate transactions, says FISPAN's Clayton Weir.

How Visa's digital services strategy is coming together
As the pandemic and economic downturn take their toll on consumer spending, the card companies are relying on scale, partnerships and subsidiaries to turn consulting, security and fast technology deployment into new and sustainable revenue streams.

A surge in cross-border payments brings MoneyGram back into profitability
The general game plan for the past few years for money-transfer businesses has been to transform from a traditional walk-in-storefront model to an online and mobile-driven operation.

Mastercard extends AI security tools to banks
Mastercard has rolled out a set of AI-powered tools to thwart fraud and data breaches across banks' ecosystems, particularly to benefit acquirers’ online merchants.

Cars that can ID their drivers can also ID their wallets
The concept marries digital ID to the trend toward making the car’s internet connectivity an e-commerce lane.

Biometrics aren't 'unhackable' so safe integration is vital
With two further commercial rollouts recently announced by major French banks BNP Paribas and Crédit Agricole, biometric payment cards are the next big tech to hit consumer wallets.

How to get fraudulent 'credit card testers' to fail
For those looking to combat credit card testing, there are several tactics that merchants can employ, says T1 Payments' Donald Kasdon.

Western Union sees stickier, digital users moving more money during pandemic
Though the COVID-19 pandemic continues to stifle economic growth globally, Western Union again pointed to its fast-growing digital services as key to keeping the company on a positive trend.

Open banking meets decoupled debit in new U.K. Currensea card
U.K. fintech Currensea has launched its first open banking-based debit card for British small businesses trading internationally. The card, which links to users’ existing high street bank accounts, builds on the pre-open banking concept of a decoupled debit card.

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