Microsoft, Ripple, Paypal and Square in payments this week
- Microsoft is working on technology that would eliminate cashiers and checkout lines from stores. The company is developing systems that track what shoppers add to their carts and has held talks with Walmart concerning a potential collaboration, according to Reuters
- Ripple’s chief cryptographer, David Schwartz, said that a lack of scalability and privacy issues are preventing banks from using distributed ledger technology to process cross-border payments, according to Reuters
- PayPal has agreed to acquire machine learning-powered fraud detection platform Simility for $120m in cash
- Spanish banks are planning to live test a blockchain-based digital identity platform by the end of 2018. The Niuron consortium of banks is led Cecabank and comprises of Abanca, Bankia, Caixabank, Caixa Ontinyent, Ibercaja, Kutxabank, Liberbank and Unicaja Bank
- Square has partnered with business-to-business e-commerce platform Handshake to power payments for suppliers and corporate buyers
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