2.7.19 Your morning briefing

Register now

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

Ski pay?
Much like Alipay, WeChat Pay's international expansion has enjoyed huge deployments, including deals to support payments at Heathrow Airport and the Mall of America in the space of three months in late 2018.

WeChat Pay has just signed a new deal with Mall of the Emirates, reports The National, adding the pact is part of the mall's attempt to lure tourists from China.

The Mall is gigantic, housing about 700 stores, 8,000 parking spaces, more than 100 restaurants and a leasable area of more than 2.5 million square feet. It also has Ski Dubai, the Middle East's first indoor ski resort and a theater that seats 500.
Mobile bitcoin
Coinbase is adding bitcoin storage to its mobile wallet, opening the wallet to trading and paying with bitcoin via an app.

The wallet is part of expanding cryptocurrency transaction capabilities with reduced fees, reports AMBCrypto.

Coinbase will soon add support for Bitcoin Cash, a cryptocurrency that's considered more amenable for retail payments; and Litecoin. Coinbase's wallet already supports Ethereum and Ethereum Classic.

Working it
Revolut will offer its business clients three months of free hot-desk space via WeWork as the digital payments company plots its international expansion.

The deal with the New York-based WeWork will open Revolut's addressable market to freelancers and other contractors, reports Finextra, which could serve its U.S. expansion as well as the growing gig economy.

Revolut is also doing hiring of its own, as it seeks staff with financial licensing expertise to aid with compliance in new markets.

Hacking passes
Boarding passes at eight airlines have a security flaw that could expose personal data and allow outsiders to tamper with seat assignments.

The problem is the use of unencrypted email links sent to passengers, reports Engadget, which reports there's no evidence that a serious breach has happened.

After clicking the link, users are directed to a site to check in to the flight or make other changes, but another user on the same WiFi network can intercept the link and access the check-in page.

From the Web

Scammers Using Fake PayPal Scheme To Trick Consumers
CBS | Wed February 6, 2019 - Scam artists are using an exploit to rip off users of PayPal, the website used by millions to make payments online. Experts say, even if you get email of a payment, make sure to check your account to confirm it came in.

Financial Inclusion Through Mobile Money Services
Forbes | Wed February 6, 2019 - While financial inclusion is increasing around the world, there are still many adults who remain unbanked. Globally, around 1.7 billion adults do not have access to financial services through a bank or mobile money provider.

Will Contactless Card Payments Kill OEM Mobile Payments And Does It Really Even Matter?
Forbes | Wed February 6, 2019 - A new survey from Juniper Research has found that OEM (original equipment manufacturer) pay solutions (such as Apple Pay and Google Pay) are on the decline in the US, with contactless card payments rising.

More from PaymentsSource

Booming economy means less fee income for credit card issuers
The credit card business, while still a profitable niche for banks, is not as lucrative as it once was.

PXP, Kalixa merge to boost omnichannel payments
Payments providers PXP Solutions and Kalixa have merged to form PXP Financial, a London-based company focused on delivering omnichannel services to merchant acquirers.

Nordea Finance to license Divido platform in Nordic markets
Nordea Finance will license Divido’s white-label point of sale lending platform for launch to retailers across several Nordic countries.

Invoice and fintech's hold on small biz lending pushes banks to modernize
Fintechs and payment startups are creating a range of solutions to SME financing, from crowdlending and invoice-backed factoring to digitalization and formalization of business processes, according to OmniBnk's Andrés Abumohor.

For reprint and licensing requests for this article, click here.