The information you need to start your day, from PaymentsSource and around the web:
Security risk
Ripple may leave San Francisco because of a dispute over how the XRP token may be regulated in the U.S.
The blockchain company may wind up in London, where it expects XRP would not be regulated as a security, a classification that entails stricter rules, report
The SEC has not ruled on XRP, though it has suggested XRP should be regulated as a security, causing a
Outsourced
Alliance Data Systems Corp. is moving its card processing services to Fiserv after years of handling it in-house for its private-label, co-branded and commercial card portfolio.
Alliance, based in Columbus, Mo., expects the move to improve operational efficiencies while adding new digital capabilities and enhancements, ADS said in a press release.
This month, Alliance Data added tools enabling merchants to send offers to customers in real time with the ability to apply for credit directly from its merchant partners’ websites.
Playing hardball
A proposed law in China would ban all yuan-based stablecoins except for China's own pending central bank digital currency.
The government is positioning the move as a way to prevent virtual currency risk, but it would hurt crypto businesses in China which use stablecoins to trade, reports
China has made several moves over the years to curtail cryptocurrency, including
Nets' deal
European payments technology company Nets has acquired CCV Schweiz, a Swiss point of sale terminal seller.
The purchase will expand Nets' markets in Germany, Austria and Switzerland. CCV Schweiz's portfolio includes 34,000 payment terminals. Terms of the deal, which is expected to close in the next few weeks, weren't disclosed.
Nets is also the subject of a potential acquisition, as
From the web
REUTERS | Monday, October 26, 2020
Having fled an economic implosion in his native Zimbabwe, Brighton Takawira was able to support his mother back home with modest earnings from a small perfume business he set up in South Africa.
REUTERS | Monday, October 26, 2020
Future Retail said on Monday it was examining an order by an arbitration panel to put on hold its $3.38 billion asset sale to Reliance Industries, and would take steps in enforcement proceedings to close the deal without delay.
ENGADGET | Sunday, October 25, 2020
PayPal may be friendlier to digital currencies, but that doesn’t mean it’s giving everyone a free pass.
More from PaymentsSource
Two smaller banks with strikingly different roots — a startup financial institution in Irvine, Calif., and a century-old Missouri-based bank — are seeing similar trends emerge around demand for real-time payments.
A limited federal government constrained by the Constitution and conservative courts can’t easily exercise broad authority over digital finance, says DailyPay's Matt Kopko.
With the COVID-19 pandemic creating unprecedented challenges for small businesses, American Express has increasingly targeted its investments in that niche.
Skipify, a Cupertino, Calif.-based AI payments and commerce provider, will power its 1-Touch payment technology through a new Shoppable Email program that also provides real-time product information and a shopping cart inside of the e-mail.
Financial stability was a central priority during Barack Obama’s presidency. As soon as Donald Trump took office, deregulation became a key focus. If Joe Biden gets elected, the issue of financial inclusion may finally gain prominence in the banking policy realm.
PayPal Holdings Inc. is exploring acquisitions of cryptocurrency companies including Bitcoin custodian BitGo Inc., according to people familiar with the matter, a move that would expand its embrace of digital coins.
The past few years have seen big tech becoming involved in a number of financial products that span deposits, loans and credit cards and that trend will come to the world of real-time payments.
T. Rowe Price Group Inc., UBS Asset Management and FMR LLC, the parent of Fidelity Investments, are among the money managers angling for a piece of Ant Group Co.’s blockbuster initial public offering, a person familiar with the matter said.
Small and midsize merchants in North America continue to struggle with the effects of COVID-19 on their bottom lines, but those who have developed an online presence and made changes to in-store payments have found the process to be a vital step.
As fraud continues to rise, there are a series of steps merchants can take to bring themselves into PCI compliance, says Qualpay's Penny Townsend.
The media company Urban One has launched a new digital bank account geared toward Black consumers that rewards users for shopping at Black-owned businesses.
