8.22.18 Your morning briefing
The information you need to start your day, from PaymentsSource and around the Web:
Walmart does not plan to accept Apple Pay, reports 9to5mac, adding Walmart is sticking to its exclusive QR code-based Walmart Pay system, in effect cutting out all NFC-based options for contactless transactions.
Walmart's opposition to Apple Pay goes back years, dating to its participation in the defunct Merchant Customer Exchange, an merchant-led attempt to build a mobile payment network.
Paytm has launched AI Cloud India, a platform for developers, startups and small businesses to build payment related apps in India.
Gadgets reports Alibaba, one of Paytm's largest shareholders, is supplying the cloud infrastructure for the service. Paytm is adding its own artificial intelligence tools for third parties. The arrangement is designed to encourage open banking.
The project could spur controversy in India, where some members of Parliament have criticized Alibaba's stake in Paytm.
A pitch for bitcoin
Seven U.K. Premier League Football clubs will use online trading platform eToro to pay for sponsorships in bitcoin, the first such move for the league.
eToro will place its branding at clubs, in perimeter advertising and on digital channels. eToro contends bitcoin payments can combat ticketing fraud, protect merchandise authenticity and allow more transparency.
More real estate
First Data is collaborating with Ellie Mae to more closely tie digital payments to parts of the mortgage lending process, giving First Data a deeper entry into the U.S. real estate market.
Ellie Mae's lending platform will support payments for loan origination fees, processing, underwriting, appraisal fees and credit reports via First Data's payment processing system.
Ellie Mae reported revenue of $417 million and has 3,500 financial institutions and mortgage lending clients, according to a release.
No news is bad news
China's negative posture toward cryptocurrency manifests itself in a variety of ways, the latest being news censorship.
Coindesk reports blockchain and cryptocurrency media accounts in China are being blocked on WeChat.
The ban appears to be in response to new Chinese government regulations banning text messaging content that refers to illegal activity.
From the Web
Germany urges EU payment system without U.S. to save Iran deal
Reuters | Tue August 21, 2018 - Europe needs to set up payment systems independent of the United States if it wants to save the nuclear deal between Iran and major powers that was abandoned by President Donald Trump, German Foreign Minister Heiko Maas said. The Belgium-based SWIFT global payment network that facilitates the bulk of the world’s cross-border transactions shut out Iran in 2012 after the United States and EU agreed to impose sanctions on the Islamic Republic over its nuclear activities.
Revolut Eyes Profit Windfall With Metal ‘Crypto Cashback Card’ Launch
Forbes | Tue August 21, 2018 - Crypto-junkies and digital nomads rejoice, Europe's billion-dollar fintech unicorn Revolut just launched its most exclusive card yet. Revolut Metal offers cash back in crypto on card purchases, a personal concierge, travel insurance and a higher £600 ($771.3) of free global ATM withdrawals per month, along with all of Revolut’s existing Premium features.
Samsung Pay Comes to Africa, Launching In South Africa
Forbes | Tue August 21, 2018 - Samsung Pay, the mobile payment from the world's largest smartphone maker, has launched in South Africa. Calling it the first such service in Africa, Samsung has partnered with two of South Africa's big banks, Absa and Standard Bank through MasterCard and Visa cards.
More from PaymentsSource
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Remittances' economic impact is being underestimated
This month, the world is focused on getting young people ready to go back to school. This means that school supplies are being bought, uniforms are being refreshed and the first semester's tuition is being paid.
Costco takes only a slice of Apple Pay
Along with activating contactless payments at its store terminals, Costco has opened its checkout lines to Apple Pay, Samsung Pay and Google Pay. But there’s a catch.
Linked2pay launches Instant Merchant Settlements
Risk management and payments technology provider linked2pay says paycosmos has become the first independent sales organization to offer its merchants the Instant Merchant Settlements service.