– Keep Rocking
Sunday, 10 December 2017 | 7 Pages
Featuring : Starbucks Reserve Roastery SHANGHAI – Grand Opening Ceremony
Starbucks Reserve Roastery opens in Shanghai as the Largest Starbucks in the World. The world’s second Starbucks Roastery arrives three years after the original roastery in Seattle, the company’s origins. (Special Coverage Inside)
FROM THE WEB
How Max Levchin cofounded and built PayPal into a payments monster after 6 pivots and a bitter rivalry with Elon Musk.
When PayPal was sold to eBay in 2002, Max Levchin didn’t know what to do with himself. He had cofounded the company with Peter Thiel and built it into a Silicon Valley success with the help of Reid Hoffman and Elon Musk.
After the sale, all four left the company. But Levchin couldn’t totally let go.
“I had the embarrassment factor of having our HR head, who was still there, take me aside and say, ‘Hey, I just want to remind you: You quit, right?'” Levchin said in an interview on Business Insider’s podcast, “Success! How I Did It.”
ANNA MAZARAKIS,ALYSON SHONTELL
DEC 10, 2017, 06.18 AM
J.P. Morgan Chase’s Sapphire Reserve Card Gets a New Chief.
Matthew Massaua of Barclays to succeed Lisa Walker on popular rewards card.
J.P. Morgan Chase & Co. is bringing in a new executive to run one of its hottest products, the Sapphire Reserve credit card, at a time when doubts have surfaced within the bank about its financial prospects.
Dec. 10, 2017 10:00 a.m. ET
BENGALURU: Alibaba is poised to buy over a third of online grocer BigBasket, according to three people directly aware of the impending deal, for about $300 million. The transaction will add to a portfolio of strategic investments the Chinese ecommerce giant is building in India as it squares up against Amazon in one of the most dynamic markets for ecommerce.
The deal, which has been in the works for nearly six months, is expected to give the Bengaluru-based company a post-money valuation of about $850 million. The Alibaba-backed online retailer Paytm Mall is also likely to invest as a part of the $300-million round depending on the final structure of the deal, the sources said. “The deal is expected to be announced soon. The final contours of the secondary transaction are still being chalked out,” said one of the people cited above.
Dec 09, 2017, 03.40 PM IST
Restaurant mobile payments hit tipping point in 2017.
Volume grew 75% and growth is expected to continue, First Data executive says.Mobile-payment capabilities swept the quick-service restaurant sector in 2017, and the trend is expanding, according to a leading payments technology company.
“What made 2017 so impressive was that it felt more like a tipping point as mobile payments raced across the fast food industry,” said Glenn Fodor, head of strategic intelligence at Atlanta-based First Data Corp. “Almost all the major brands now offer services at scale: McDonald’s, Burger King, Quizno’s, Chick-fil-A, Krispy Kreme, Baskin-Robbins.”
Nation’s Restaurant News
Dec 08, 2017
Fingerprint payments to be ‘commonplace’ within a year: Visa.
Shoppers will soon be able to take a scan of their fingerprint or face to authorise a credit card purchase, instead of entering a PIN, as part of a crackdown on payment fraud.
With online card fraud rising quickly as stolen card details are used for website purchases, payments giant Visa is rolling out a suite of new changes aimed at stopping fraudsters.
The Sydney Morning Herald
DECEMBER 7 2017
Alipay to hold online 24-hour Christmas shopping festival as part of expansion push.
The ‘Double 12’ event on December 12 in Hong Kong, India, Thailand and the Philippines comes a month after parent Alibaba’s global Singles’ Day shopping extravaganza.
A joint venture between CK Hutchison Holdings, the flagship conglomerate of Hong Kong tycoon Li Ka-shing, and Alipay, the mobile payments arm of China’s Ant Financial Services Group, will hold a 24-hour online shopping event on December 12 called the “Double 12” festival to help push Alipay’s expansion in key markets.
The event will take place in Hong Kong, India, Thailand and the Philippines with Alipay partners in each location: Hutchison in Hong Kong, Paytm in India, Truemoney in Thailand and GCash in the Philippines.
South China Morning Post
Thursday, 07 December, 2017, 10:58pm
See, Hear and Feel the Evolution of Visa Through Sensory Branding.
The all-new sound of Visa will debut in Visa’s global advertising campaign celebrating the Olympic Winter Games PyeongChang 2018
SAN FRANCISCO–(BUSINESS WIRE)–Dec. 7, 2017– Visa (NYSE: V) today announced a suite of sensory branding that will support the Visa brand in an expanded universe of connected, payment-enabled devices. These new sound, animation and haptic (vibration) cues will help signify completed transactions in digital and physical retail environments when you pay with Visa. The sound of Visa will debut in Visa’s global advertising campaign ahead of the Olympic Winter Games PyeongChang 2018.
Cross River® Becomes First Bank Partner For Mastercard Cash Pick-Up™ Service.
FinTech Leader to Power the Newly Launched Mastercard Program. FORT LEE, N.J., Dec. 7, 2017 /PRNewswire/ — Cross River, a New Jersey State Chartered FDIC-insured bank and FinTech leader, announced today a partnership with Mastercard (NYSE: MA) to launch its new Mastercard Cash Pick-Up service. Cash Pick-Up allows banks and their disburser partners to deliver cash quickly, securely and easily to any vetted consumer – banked or unbanked – through enabled ATMs, without the use of a card. The program is another example of Cross River’s first-to-market approach with new payment types, and is a complement to the company’s overall disbursements suite. With the addition of Cash Pick-Up, Cross River business partners will now be able to pay their customers to their bank account, through their debit card, and now at the ATM.
“After helping to launch Mastercard Send in 2015, we are proud to be working together again to bring another innovative payment product to market,” said Gilles Gade, President and CEO, Cross River. “The launch of Cash Pick-Up underscores Mastercard’s leadership in this space, and furthers Cross River’s goal of constantly bringing new payment solutions to our business partners.”
NEWS PROVIDED BY
Cision PR Newswire
Dec 07, 2017, 10:30 ET
1. Please refer to paragraph 1 of Statement on Developmental and Regulatory Policies regarding revised framework for Merchant Discount Rate (MDR) for Debit Card Transactions announced in the Fifth Bi-monthly Monetary Policy Statement, 2017-18 by the Reserve Bank of India.
2. The Reserve Bank had specified the maximum MDR applicable to debit card transactions vide its circular DPSS.CO.PD.No.2361/02.14.003/2011-12 dated June 28, 2012, which was revised vide circular DPSS.CO.PD.No.1515/02.14.003/2016-17 dated December 16, 2016.
3. Based on consultations with stakeholders on the “Draft Circular – Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions”, as also taking into account the twin objectives of promoting debit card acceptance by a wider set of merchants, especially small merchants, and ensuring sustainability of the business for the entities involved, it has been decided to rationalise the MDR for debit cards based on the following criteria:
a. Categorisation of merchants on the basis of turnover.
b. Adoption of a differentiated MDR for QR-code based transactions.
c. Specifying a ceiling on the maximum permissible MDR for both ‘card present’ and ‘card not present’ transactions.
(Nanda S. Dave)
Chief General Manager-in-charge
Reserve Bank of India
December 06, 2017
Apple Pay Cash and person to person payments now available
Apple Pay Makes Going Cashless Easy for US Customers Starting Today. Beginning today, Apple customers in the US can use Apple Pay to send and receive money with friends and family quickly, easily and securely. Whether splitting a bill, paying someone back or sending a last-minute gift, Apple Pay makes it easy to pay and get paid, right in Messages
Katie Clark Alsadder / Laura Newell
DECEMBER 5, 2017
A Timeline of Every Major Disruption in Payments.
The current payments landscape is moving at a blistering pace.
Mobile payments, for example, is a market growing at a 39.2% annual clip, and it will be worth nearly $3 trillion by 2020. At the same time, it’s almost impossible to keep up with the growth in the blockchain world. Every day, new technical problems are being solved, coin market caps are hitting new highs, and Bitcoin is dominating the news cycle.
But, payments hasn’t always been this fast-moving or exciting. In fact, right now is an anomalous moment in the sector – and we’re actually witnessing a rare intersection of multiple disruptive technologies coming to age at the same time.
December 5, 2017 at 12:56 pm
Singtel signs MOU with Mobike; pair to explore mobile payments for bike rides .
SINGAPORE: Telecommunication giant Singtel and bike-sharing company Mobike signed a memorandum of understanding (MOU) on Monday (Dec 4), adding that they will work together to explore mobile payments for bike rides as part of the deal.
According to a joint news release, Singtel customers across Asia will be able to pay for Mobike trips through the Singtel Open Platform, a group-wide payment gateway.
They can use direct carrier billing or Singtel’s mobile wallets to pay for Mobike trips, the two companies explained.
04 Dec 2017 04:24PM
Target launches its own mobile payments system with debut of ‘Wallet’.
As promised earlier, Target today launched its own mobile payments system with the introduction of “Wallet” in the Target app. Wallet, as the name implies, allows Target shoppers in-store to both check out using their smartphone as well as take advantage of their Cartwheel digital coupons and discounts with only one scan of their barcode.
Posted Dec 4, 2017
How credit cards changed the way we spend.
The clue is in the name: credit. It means belief, trust.
If you’re a shopkeeper, who do you trust to repay a debt? For most of history, only someone you knew personally, which was fine since most of the people you encountered would be from the same small community.
But as cities boomed, things became more awkward.
Large department stores couldn’t rely on employees to recognise every customer by sight. So retailers issued tokens to trusted customers – special coins, key-rings, and in 1928, even objects resembling dog tags called “charga-plates”.
By Tim Harford
4 December 2017
Contactless payments are weeding out cash.
A lot of us believe cash is faster, easy to handle and convenient. Digital solutions could never replace the simplicity and ease of using cash, or could they?
Sample this: it takes about 30 seconds to complete an across-the-counter cash payment; including the time taken to pull out the currency from your wallet, look for change and ensure the money is safely tucked in. It takes about three seconds to conduct the same using a contactless card; including the time to pull out your wallet which contains your contactless card, tap against the terminal and tuck it back in.
DECEMBER 03, 2017 21:37 IST
FROM THE TUBE – PTO
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Sunday, 26 November 2017 | 7 Pages