The information you need to start your day, from PaymentsSource and around the web:
London calling
PayPal's successful crypto program is expanding geographically, with plans to launch in the U.K. over the next few months.
The payment company has allowed U.S. consumers to trade and hold crypto since October, with plans to support direct payments during the first quarter. Many of these same features will be available in the U.K. reports
The news comes as Mastercard announces it will support crypto payments inside its network, a move that along with PayPal should expand the number of merchants that accept digital currencies.
New venture
Crypto exchange Kraken is seeking new cryptocurrency, decentralized finance and fintech startups with a new venture fund.
Kraken will pour between $250,000 and $3 million in startups that demonstrate an expertise in artificial intelligence, cyber security and other forms of machine learning, reports
Coinbase launched a similar fund to fuel blockchain and DeFi startups in 2018.
School days
A startup called College Cash is piloting a system that works with brands to recruit users to create digital marketing content about the brand--then use payment from the brand to lower their college debt.
The brands pay current or former students in credits that act as a currency against student loans, reports
The Dallas-based College Cash's founder, Demetrius Curry, got the idea from discussing ideas to pay down his daughter's student debt, and has spent most of the past two years building the platform and working through accelerators. Curry is now working with a gig economy payment platform to test the technology.
Sports page
Adyen has made several changes to reach merchants that have altered shopping and checkout during the pandemic, a strategy that's helped it reach a deal a Dick's Sporting Goods primary payment provider in the U.S.
The Amsterdam-based payment processor will build a cross-channel shopping portal for Cicks, covering online, stores and in-app transactions.
Adyen will also power cardless refunds, mobile payments in stores and provide digital payment fraud protection.
From the web
REUTERS | Friday, February 12, 2021
Bitcoin on Thursday jumped to a fresh all-time high after BNY Mellon said it formed a new unit to help clients hold, transfer, and issue digital assets.
CNBC | Friday, February 12, 2021
Pressure is building on Wall Street banks to accept bitcoin as a legitimate asset class – and it’s coming from within, CNBC has learned.
COINDESK | Friday, February 12, 2021
T-Mobile is being sued by a customer as a result of a SIM attack that resulted in over losses of over $450,000 in cryptocurrency.
More from PaymentsSource
After years of only dipping a toe in the waters of crypto payments, Mastercard has dived into the deep end.
Pelican, a provider of payments and artificial intelligence technology, is supporting Swift's development of a new service for low-cost cross border payments across its Global Payments Initiative and high-speed rails.
The financial services industry has been in significant upheaval since the COVID-19 pandemic and resulting lockdowns. Traditional channels have been disrupted for social distancing purposes, while the relationship customers have with their bank is changing dramatically.
With suppliers adopting digital payments at a more significant rate, it feels like we’ve reached the tipping point where checks are becoming obsolete on a broader scale, says Nvoicepay's Josh Cyphers.
The Swedish installment lender's diversification makes it a direct competitor to mainstream banks.
Western Union has long boasted about its growth in digital remittances over the past year, but the users of those services aren't at the scale yet of those who go to its live agents.
Countries around the world are adopting a messaging standard that allows more information to be sent with a payment, but it has been slow to gain traction in the U.S.
