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PayPal's smaller investment
PayPal's spending heavily to feed its international expansion, a strategy that includes a partnership with Singapore's sovereign investment fund Temasek in a $125 million stake in Pine Labs, a Indian retail payments platform.
The investment will give PayPal and Temasek a minority position, reports
PayPal is also making a much larger investment by agreeing to acquire
Seeding the payments cloud
Digital payments company Moorwand is the first to open its development tools to third parties via the Open Payments Cloud.
The
The cloud connects developers with tools to support issuing, acceptance, processing and anti money laundering risk through a single platform and testing sandbox.
Crypto firm nabs former Square exec
Payments and cryptocurrency platform Monaco had hired Stanley Lam to be chief compliance officer.
Lam previously held the same title at Square, and will help lead Monaco's international expansion.
His hire also comes at a key point for cryptocurrency companies, which are increasingly looking to
Mastercard adds cybercrime expert
Mastercard has hired Simon Hunt as executive vice president in charge of the network's cybersecurity solutions unit.
Hunt has 20 years of experience in cybersecurity, serving in executive roles at McAfee and Intel. Hunt was most recently chief technology officer at data protection company Winmagic.
At Mastercard, Hunt will be responsible for global cybersecurity, standards, fraud reporting, the card network's Security Labs and partnership programs.
From the Web
Reuters | Thu May 31, 2018 - The typical Swiss carries 133 francs ($135) around in cash and prefers debit cards to credit cards and online payments, a survey by the Swiss central bank showed, underscoring the traditional Swiss fondness for banknotes. National Bank officials said the perceived convenience and efficiency of cash made it the payment choice for most households in wealthy Switzerland, although younger people and high earners often favor using cards.
China Daily | Thu May 31, 2018 - German organic food manufacturer HiPP GmbH & Co Vertrieb KG has announced it will cooperate with Ant Forest, an app affiliated with Chinese technology giant Alibaba Group Holding Ltd, to encourage members of the public to lower their carbon footprints. According to Ant Forest, any activities on Alibaba's digital payment platform Alipay that are considered low carbon, such as paying for public transportation and going paperless, will be counted and converted into green energy to cultivate virtual trees.
CNBC | Thu May 31, 2018 - Flipkart-owned digital payments company, PhonePe, crossed $20 billion TVP (Total Payments value) and 100 million users in May. With Walmart announcing the acquisition of Flipkart earlier this month, the company now looks to leverage the experience of the global retail giant to make significant inroads into offline business in FY19.
More from PaymentsSource
Belgian security researcher Xavier Mertens has discovered a piece of a banking malware campaign that appears to target customers of various U.K. banks.
Retailers often try to counter Amazon's dominance by using the e-commerce giant's strengths against it, including its reliance on search engine optimization.
Many of these attacks have been server side ransomware and other sophisticated hacks, leading companies to examine the immature security processes, the technology of application security, and the insufficient expertise of development, writes Jeannie Warner, the security manager at WhiteHat Security.
Virtual reality is seeing significant leaps in technology, with immediate applications to gaming and entertainment that foreshadow richer applications for VR in commerce.
