2.26.19 Your morning briefing
The information you need to start your day, from PaymentsSource and around the Web:
Target's battle with Amazon and Walmart has extended to third party sales, with new perks to woo shoppers.
Consumers will have access to the same loyalty marketing when buying from Target's third party site, called Target+, and will also get a 5 percent discount when using Target's REDcard, TechCrunch reports, adding items at launch include STEM learning toys, shoes and sporting goods from SVSports, Mizuno, Kaplan and Music 123.
Target also recently opened up its in-store payment technology by supporting NFC-based contactless payments, including Apple Pay.
Digital ID gets a boost
Android is FIDO2 certified, which means more than one billion devices can avoid passwords and instead use fingerprint sensors or FIDO's security key protocols to access apps and websites.
Passwordless authentication is available to developers through an API, and can potentially support payments and other mobile transactions with more dynamic security that takes less navigation to access.
FIDO — a cross-industry association that supports the sunsetting of static authentication methods such as usernames and passwords in favor of interoperabile digital ID — and Google have been working on ID technology improvements for the past two years following a successful internal test at Google.
Timex and Tappy Technologies have built a token-based payment system that can retrofit watches to support contactless card payments.
The upgrade works through a chip that is placed into a watch strap and tokenized to Tappy Technologies' Universal Passive Provisioning Unit.
The two companies, which join a range of other developers who have built mobile payment add-ons for non NFC watches, hope to extend mobile payment capabilities to all watch types, even older timepieces.
South African bank SasFin is extending its ability to serve the small business market by taking an undisclosed stake in local lending startup Payabill.
Payabill provides working capital for clients, who select extended loans based on payment flow. SasFin's stake will support larger loans.
Providing alternative capital sources for small businesses has become an increasingly popular business line for fintechs globally, with product deployments coming as recently as Feb. 25 from Payoneer.
From the Web
EU mulls new rules on payments in challenge to Visa, Mastercard
Reuters | Tue February 26, 2019 - The European Commission is considering new rules to speed up the take-up of a European instant payment system launched last year by the European Central Bank, in a direct challenge to card firms and tech giants, like PayPal, a top official said.
Samsung Galaxy S10 Will Feature Full ERC20 Support in Crypto Wallet
CCN | Mon February 25, 2019 - T Store, a mobile application marketplace operated by SKT, the largest telecommunications giant in South Korea, officially introduced Samsung Blockchain Keystore and the revolutionary native crypto wallet on the Galaxy S10.
Coinbase Lists Controversial Cryptocurrency XRP, Price Jumps 10%
Fortune | Mon February 25, 2019 - Coinbase plans to add XRP, one of the world’s most controversial cryptocurrencies, to the list of virtual coins traded on its exchange, the company said. XRP is a digital asset tied to a blockchain ledger that’s used for cross-border payments.
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