11.1.18 Your morning briefing
The information you need to start your day, from PaymentsSource and around the Web:
West side story
Visa has long used used sporting events such as the Olympics as marketing gateways for its emerging technology, a strategy that's extending to Manhattan's Hudson Yards project, which is scheduled to open in 2019.
The project, which is on a 28-acre site that was once the showcase of New York's failed 2012 Olympic bid, has more than 100 retailers, which will pilot and market contactless and mobile payment features.
The retailers include New York's first Neiman Marcus and about 100 other restaurants and stores.
MPOS on the rails
The London North Eastern Railway plans to outfit train staff with onboard mobile payments technology for the route between London and Edinburgh.
The railway has already piloted the payment system, which is powered by payment software company ECR. The line serves York, Leeds, Newcastle, Aberdeen and Inverness stations.
Sparked by London's successful mobile transit ticketing system, contactless payment projects are advancing across the U.K. for a variety of use cases.
Even more incentive
Fresh off announcing financial pressure for clients to embrace payments automation, ABN Amro is diving deeper into the technology.
The bank has extended a partnership with ACI to accelerate payments automation for both consumers and corporates.
There's also a PSD2 element, since the partnership supports potential open banking initiatives and API-driven deployments.
India's set to ban cryptocurrencies
India's Financial Stability and Development Council is working on a possible ban on private cryptocurrencies, which would likely close off payments and trading.
Coindesk reports the government's negative stance does not extend to a central bank-supported virtual currency, which is still in the works.
It's the second move in India that mirrors the hardline taken by China, which has also cracked down in cryptocurrencies. And like China, India is mandating external payment companies to store data locally.
From the Web
As stock rises on a slim earnings beat, eBay tells analysts to focus on payments and ads
TechCrunch | Wed October 31, 2018 - Despite increasing competition from traditional retailers like Walmart and Target, which have invested heavily in e-commerce, and the whupping it’s routinely taking from Amazon among pure e-commerce companies, eBay, the 20-year-old lumbering Pez dispenser of an e-tailer, keeps plugging along. Now, as it manages to eke out another earnings win by matching analysts’ expectations, the company is telling the bankers that watch it to look to advertising and payments for its future growth.
KDDI and Rakuten to pool mobile and e-payment resources
Nikkei Asian Review | Thu November 1, 2018 - Japanese mobile carrier KDDI and e-commerce player Rakuten are teaming up to gain an edge in both fields, the companies revealed on Thursday. This will save Rakuten the cost and time of setting up base stations, bringing the company closer to its goal of launching nationwide mobile services by next fall. KDDI, meanwhile, expects to use Rakuten's e-payments infrastructure for its au mobile wallet service, along with Rakuten's e-commerce logistics network.
Malawi says all local businesses must offer digital payment options, not just cash
Quartz | Thu November 1, 2018 - The Reserve Bank of Malawi wants most money transactions to be done electronically and currently a policy is being put in place which will make all local businesses offer customers at least one method of digital payment. The options include mobile money/banking, Point of sale, internet banking or other digital payment systems approved by the central bank.
More from PaymentsSource
FleetCor, McDonald's enable toll-tag payments at drive thru in Brazil
FleetCor’s Brazilian electronic toll unit, operating under the brand name Sem Parar, is partnering with McDonald's to its enable its customers to make contactless purchases at the drive thru window.
Retailers are leaving a powerful amount of cash data on the table
They’ve kept tabs on the movement of cash into their till and into their bank accounts but have missed the wealth of data by not monitoring the path and treatment of cash within their organization, according to Rory Herriman, executive vice president and CTO for Software and Digital Systems at SUZOHapp.
Amazon Go's rivals may threaten each other more than Amazon
Amazon Go’s getting a lot of the attention among cashierless store projects, but it's far from alone. However, any attempts to dethrone Amazon are just as likely to help it succeed.
Transaction tech boom has made digital ID a crisis
Everyday we’re opening the door to new services, devices and institutions, trading off a little bit of “us” for greater convenience, writes Lina Andolf-Orup, a global product marketing manager at Fingerprints.