4.10.19 Your morning briefing

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Send in the bots
Walmart is set to expand its use of robots in stores, with more than 1,800 out of the retailer's 4,700 stores having robots by the end of the year.

The retailer hopes to mitigate staff turnover and manage the expense of keeping its stores open at all times, reports CNN. Walmart has been using robots on a very limited basis for about two years, mostly to clean, check stock levels and pricing.

Walmart, which is in a fierce battle with Amazon and Target, is pursuing new technology. It has opened innovation labs in New York and Texas and has rolled out several payment and delivery products in the past two years.
Not open enough
U.K. regulators say five banks aren't moving fast enough to support open banking, or the use of technology to support data sharing between banks and fintechs.

The Competition and Markets Authority reports Bank of Ireland, HSBC, Lloyds, Danske and Santander have not met deadlines for app-to-app function, reports Finextra.

PSD2 is pushing open banking in Europe via a set of rolling deadlines. Open banking initiatives are also spreading to other markets such as Australia. PSD2 compliance is expected to be difficult for banks, though there are also opportunities for collaboration.

U.S. passage
Bitstamp, a cryptocurrency exchange that partners with third parties to support card processing, has received a "Bitlicense" from the New York Department of Financial Services, allowing the exchange to offer bitcoin, litecoin, bitcoin cash, ether and XRP.

As the state agency considers updating cryptocurrency licensing, it's also accelerating approvals. Bitstamp is the 19th Bitlicense overall, and the fifth this year, reports Coindesk.

Since launching the license in 2015, New York had previously approved applications at a rate of about four per year, far less than the more than 4,400 financial institutions that are under New York's regulatory control.

Listening in
A surveillance app allows crooks to attack iPhones, picking up contacts, recordings, photos and information that's used for some retail sites, such as real-time location.

The developer used Apple enterprise certificates to go around the app store to infect users, reports TechCrunch, adding Apple is cracking down on such use.

The new attack strain is related to an Android app which includes a spying feature that can gain access to WiFi passwords, emails and cellular data, according to TechCrunch.

Staffing up
Financeit has hired former Discover and GMAC Insurance exec Steve Olzewski as general manager for its U.S. division as the Canadian point of sale financing company plots a geographic expansion. The company has also appointed Jonathan Smith as chief risk officer for both the U.S. and Canada.

The company hopes to take advantage of the point of sale finance market in the U.S., which is expected to expand quickly as fintechs attempt to make lending and larger ticket purchases part of merchant acquisition.

These companies also see an opportunity because banks thus far are not as aggressively pursuing the product category.

From the Web

Yahoo tries again to settle lawsuit over massive data breach. This time it offers $118 million
CNN | Tue April 9, 2019 - Yahoo could pay $117.5 million to settle massive data breaches that compromised personal information, including email addresses and passwords. The proposed settlement was announced on Tuesday, but still needs to be approved by US District Judge Lucy Koh.

A New Breed of ATM Hackers Gets in Through a Bank’s Network
WIRED | Tue April 9, 2019 - Researchers at the Kaspersky Security Analyst Summit in Singapore are presenting findings about a new wave of payment system scams. Beyond so-called jackpotting attacks, which cause individual ATMs to spit out money, hackers are manipulating ATM networks and the digital authentication checks in the machines to cash out fraudulent transfers they initiate around the globe.

Malaysia, Singapore to share toll payment, ATM networks
Malay Mail | Tue April 9, 2019 - Malaysia and Singapore announced today a cross-border toll payment smart card called Combi Card that may be used by motorists travelling in both countries. The card would be similar to Malaysia's Touch 'n Go and Singapore's EZ-Link cards.

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Mastercard joins cross-industry cybersecurity talent search
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New rules clear the runway for bank-led crypto payments
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