5.1.19 Your morning briefing

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

Green light
PayPal's $2.3 billion deal to acquire iZettle has passed muster with the U.K.'s Competition and Markets Authority.

The CMA was concerned the deal could increase prices and limit competition in the mobile point of sale market. But a CMA investigation found merchants are willing to use devices from Barclays and Worldpay, as well as mobile point of sale companies such as Square and SumUp, reports the Financial Times.

PayPal's iZettle deal was struck in part to counter the expansion of Square, Stripe and other merchant fintechs in Europe.
Car Key
Amazon is extending its Key delivery service to certain Ford and Lincoln vehicles as the e-commerce company looks to cover more bases with fulfillment.

The service will be available in 50 U.S. metropolitan areas, and will cover Amazon Prime Members who own 2017 or newer Ford of 2018 or newer Lincoln models, reports TechCrunch, adding these cars must have modems that connect to the automaker's connected car cloud. There will also be restrictions on packages.

Amazon is using Key and other services, such as smart doorbell technology, to enable deliveries when the recipient is not available, a move that could encourage more remote shopping.

Brick remit
Fresh off entering a partnership with Visa to extend cross-border transfers, Remitly has inked a deal with Ria to double Remitly's global cash pickup network to nearly 150,000 locations in 44 countries.

Remitly is addressing a lingering need for cash-based remittances that can be picked up at a brick and mortar location, a more traditional model as remittances become more digital.

There's a particular need in both urban areas and rural regions in emerging markets, Remittly said in a release.

Bit refunds
Tax technology company Refundo and BitPay are partnering to make state and federal tax refunds available in bitcoin through BitPay's Payouts feature.

Taxpayers use Refundo to create an account and receive a routing and account number to input on tax returns, as well as KYC information and a bitcoin wallet address. BitPay process the IRS refunds and makes the deposit into the user's cryptocurrency wallet.

Cryptocurrency has made some progress in taxation, with some states considering support for cryptocurrency tax payments.

Opening up
Instagram has been ramping up its ability to sell products directly, entering a partnership with PayPal and a donation sticker to encourage in-app purchases.

It's now extending its shopping tags to more parties, including public figures, athletes, creators, publishers and artists, reports The Verge, adding these order and pay capabilities were previously limited to companies.

Instagram won't take a cut of payments but will require creators to use its checkout product, which is still in beta.

From the Web

Fintech lobby spending targets cryptocurrency taxation
Roll Call | Tue Apr 30, 2019 - More than half of the 80 firms that reported lobbying on fintech in the first quarter listed blockchain and cryptocurrencies, including tax elements of the latter, among their biggest concerns. Combined, more than 80 firms lobbying on fintech reported spending more than $42 million in the first quarter of 2019.

Commonwealth Bank expands Apple Pay to business cards
ZDNet | Tue Apr 30, 2019 - The Commonwealth Bank of Australia (CBA) announced on Wednesday that it is extending the deployment of Apple Pay to holders of business cards. "We are extending Apple Pay to business customers because they asked for it, and it's part of our commitment to listen to our customers, put their needs first, and take action to become a simpler, better bank," CBA executive general manager of business customer solutions Clive van Horen said.

A $50 Billion Banking Giant Launches International Payments with Ripple’s XRP
CCN | Tue Apr 30, 2019 - Saudi British Bank (SABB) announced the launch of its Instant Cross-Border Transfer Service, a payments infrastructure based on the Ripple blockchain network that utilizes crypto asset XRP for liquidity. With nearly $50 billion in assets, SABB initially joined the Ripple network in January 2018 with the support of the Saudi Arabian Monetary Authority (SAMA) to use emerging technology in the blockchain to process payments.

More from PaymentsSource

Mastercard CEO sees 'opportunities' from payment mergers
Much like Visa's CEO, Mastercard's top executive is viewing the recent mergers in the payments industry as a chance to build partnerships rather than a competitive threat.

FIS flips an exec’s script to do more with data, AI
The lumbering pace of product development is one of the typical drags on large bank technology firms, while nimble startups can seemingly launch new offerings overnight.

Investors boost Divvy's business expense payments platform
The venture capital firm New Enterprise Associates has led a $200 million funding round in Divvy, a business payments and expense management platform provider.

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