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Not in the mail
The
Barclays is part of the latest controversy, as consumer groups and regulators have slammed its decision to end support for free cash withdrawals at the Post Office.
Barclays told The Guardian it would support other financial services at the Post Office, and pledged not to close branches in communities in which it is the "last bank in town."
Government push
Taiwan's Ministry of Economic Affairs is investing about $14 million in a mobile payments reward program to encourage domestic commerce.
The agency will partner with mobile payment service firms Taiwan Pay, Line Pay, Jkos Pay and Pi to subsidize the incentives at about 200 shopping districts, reports
The government predicts the increase in mobile payments can boost overall shopping, reporting mobile payments jumped to $47.8 billion in 2018 from $14.8 billion in 2017.
New market
Citing an expanding business travel market, WEX has expanded to the United Arab Emirates, where it plans to issue virtual cards.
The company is partnering with Mastercard to tap an addressable travel market of about $18.7 billion in the UAE, WEX said, citing government data. The company will target procurement and general travel payments, as well as use local partnerships to avoid exchange rate markups and cross-currency fees.
Political crypto
Japanese politicians can accept cryptocurrency donations without limit, the government has ruled.
Crypto donations do not have to be disclosed under the Political Funds Control Law, unlike cash and securities, reports
The
From the web
YAHOO FINANCE | Tue October 8, 2019
Global Payments Inc announced that the technology behind its Netspend general purpose reloadable Mastercard has been integrated into Samsung’s digital wallet, Samsung Pay, and will drive its Samsung Pay Cash service. Samsung smartphone users with Samsung Pay eligible devices will be able to access an auto-provisioned prepaid card called Samsung Pay Cash.
YAHOO FINANCE | Tue October 8, 2019
Phlatbed, the on-demand delivery platform for nearly anything, announced the expansion of its partnership with Stripe to include Apple Pay and Google Pay for its users. "Our unique position in the gig economy requires that we give our users multiple payment options," said Alani Kuye, CEO of Phlatbed.
REUTERS | Tue October 8, 2019
The regulatory and legal landscape surrounding the use of data, and data privacy, is rapidly becoming more complex. As state and even city regulations and laws are being retooled, proposed or enacted, a proverbial patchwork or regulations is becoming at best a headache, or at worst, a legal and regulatory minefield for compliance and legal departments.
More from PaymentsSource
What is the goal of financial inclusion? Could it just mean giving everyone a bank account — or must cash still play a role in an increasingly digital future?
Rather than honing in on specific methods to accommodate real-time payment processing, Wells Fargo realized a mix is the best bet to avoid inadvertently leaving parts of its client base in the dark.
Europe's PSD2 doesn't directly impact Hong Kong, but its monetary decision makers support open banking frameworks, sparking a network of banks to support that effort through the help of HSBC and Swift.
U.K. fintech Revolut will use Bottomline Technologies' Universal Aggregator to manage a software-based real-time payments button.