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In the cards
A new iOS update has added iPhone support for Apple Card Family, allowing cardholders to add up to five people who can use the credit card simultaneously.
Users can additionally access expense tracking and limits, reports
Apple announced the update along with other upgrades such as support for paid Apple Podcast subscriptions and updates to its smartwatch operating system.
Joining forces
BNP Paribas will acquire about one third of the share of European incentive marketing company Joyn. The bank joins KBC and ING, which already own 33% stakes.
Joyn has about 2 million consumers, who use Joyn cards to pay at a network of more than 7,500 mostly local merchants while accumulating loyalty points. The cards process about 100,000 transactions per day.
The banks see Joyn as a way to boost shopping and payment volume at merchants that have struggled during the pandemic, and also lack the resources to operate their own incentive marketing.
Turbulence
Details on a data breach at air transportation data firm SITA are emerging, and the news is particularly bad for Air India.
The Geneva-based SITA first announced it suffered a data breach in March, according to
Danger zone
Following last week's volatility in the cryptocurrency market, Bank of England Governor Andrew Bailey reiterated his anti-crypto stance to the Parliament's Treasury Committee.
Bailey said cryptocurrencies are a "danger" to the public, and he's skeptical about cryptocurrency because of the public's enthusiasm, reports
It's not unusual for figures from the financial establishment to criticize cryptocurrency, most notably JPMorgan Chase CEO
From the web
REUTERS | Monday, May 24, 2021
Federal Judge Yvonne Gonzalez Rogers held unconventional closing arguments Monday in the antitrust trial between Epic Games and Apple Inc, peppering both sides' attorneys for three hours about how far she could - and should - go to change Apple's App Store business.
THE WALL STREET JOURNAL | Tuesday, May 25, 2021
Hackers move further underground after Colonial Pipeline, Irish health system attacks bring increased scrutiny and scorn
TECHCRUNCH | Monday, May 24, 2021
Zocdoc says it has fixed a bug that allowed current and former staff at doctor’s offices and dental practices to access patient data because their user accounts weren’t properly decommissioned.
More from PaymentsSource
More than 250 wholesale clients signed up with the Pittsburgh bank in the past year to use real-time payments for payroll, billing and supply chain management.
ISVs that optimize B2B payments within their software solutions stand to save the day for merchants who want to grow but feel hamstrung with their current solutions, says Global Payments Ingegrated's Ashley Jones.
The U.S. is the world’s largest economy, based on World Bank data, at $21.43 trillion with more than 330 million consumers — and while the pandemic may have slowed the nation down, U.S. merchants, particularly small businesses, have been resilient.
The banking technology provider Zeta raised $250 million from SoftBank Vision Fund II at a valuation of $1.45 billion, winning its first venture backing to help fuel its expansion.
Citi Retail Services has renewed its longtime card-issuing relationship with Tennessee-based Tractor Supply Co., which saw record sales during the pandemic as consumers expanded their backyard menageries.
Cryptocurrency prices have been very volatile of late with a huge rally followed by a sharp correction and the start of a recovery.
The digital migration caused new risks, and new responsibilities for security professionals, say RUSI's Isabella Chase and ACAMS' Rick McDonell.
Business leaders in Atlanta and San Francisco warn that the digital divide will widen if Black-owned companies can't accept online and mobile payments.
Trustmark in Jackson, Mississippi, had been testing video-enabled ATMs since 2017, starting in a branch lobby, a drive-through lane and a “transformed” branch that shared space with a coffee shop. The experiments were promising, but the company felt there was room for improvement.
Apple's Chief Executive Officer Tim Cook said it would be “terrible” for iPhone and iPad users if a judge ordered the company to allow third-party app marketplaces, in addition to its own App Store, as Epic Games Inc. is demanding in a high-stakes antitrust battle.
Authorized push payment fraud — where fraudsters trick people into voluntarily transferring money or providing credit card or other payment information over the phone or via digital channels — is accelerating globally.
WASHINGTON — The Federal Reserve signaled Thursday that it is looking to expand its oversight of stablecoins, just one day after China issued a warning about the financial stability risks of cryptocurrencies like Bitcoin and Ethereum.
Synchrony has committed to place $15 million in venture capital funds led by women, minorities and other underrepresented groups, as part of Synchrony Ventures’ broader initiative to drive diversity through investment.
Figure Technologies, the blockchain-based startup co-founded by Mike Cagney, is closing its latest funding round that values the company at $3.2 billion.
The European Central Bank made a veiled threat to commercial banks that are extracting fees from real-time payments, stating the levies stand in the way of progress.
The economist Joseph Schumpeter created a term called “Creative Destruction," as can be seen in cases such as Netflix vs. Blockbuster, department stores vs. Amazon, taxis vs. Uber and so on. Cryptocurrency could be brewing another creative destruction in the financial markets.
Regulators must urgently usher the unbanked or underbanked individuals into the wider financial ecosystem as they continue to craft open banking rules, says FISPAN's Clayton Weir.
The money transfer company is working with Coinme to provide a way for bitcoin users to access their profits — or cut their losses.
Bitcoin's value plunged 30% Wednesday morning — and bounced back to just shy of $40,000 by the afternoon — in a stark reminder of why many people are still wary about using the cryptocurrency for payments.
Japan is one of the most cash-centric of all developed nations, with about 80% of consumer transactions conducted with paper or coins, but the pandemic triggered some shifts that Adyen wants to capitalize upon.
This year's honorees are women under 40 who have demonstrated a strong talent for leadership and an expertise in their respective fields. They also took on crucial responsibilities to help their organizations navigate the complexities of the pandemic, and set their companies on a path for continued growth.
