TenX, Billon Group, Three Square Market, Paypal, MBNA, Worldpay in Cards and Payments
- Billon Group, a UK- based blockchain start-up, has received €2m in new funding from Horizon 2020, a European Union research program.
- TenX, a Singapore-based start-up, has launched a Visa debit card which can convert digital currencies into dollars, yen and euros with a 2% transaction fee. The service works via an app that serves as a digital wallet connected to a Visa card which allows for goods or services to be paid for in a local currency, while the users’ crypto account is debited. The company claims it has received more than 10,000 applications for the card.
- Wirecard is to offer a payment guarantee for credit card payments. The service feature is primarily directed at SME online merchants who suffer consumer payment defaults.
- N26 has partnered with MasterCard to release a 3D secure solution allowing customers to verify online transactions within its mobile banking app.
- Three Square Market, an American company which makes self-service micro markets for office break rooms, is inviting employees to have RFID chips implanted in their hands to allow them to purchase food in its office break room. The company is working with Sweden’s BioHax on the scheme which starts on 1 August 2017. Three Square Mile’s chief executive officer, Todd Westby, said he sees the use of RFID technology expanding to drive everything from making purchases in its office break room market, opening doors, logging into office computers, as well as being used at other RFID payment terminals.
- Paypal has reported a year-on-year 18.3% increase in revenue to $3.14bn in Q2 2017 The company added 6.5m accounts in the period, up 80% year-on-year and processed 1.8bn in total payment volumes. Mobile payments rose 50% to around $36bn, while payment volumes at Venmo, its mobile peer-to-peer payments app more than doubled to $8bn
- MBNA has launched a TAP TO GIVE campaign to promote international Tiger Day on 29 July 2017, with the aim of encouraging Thames Clipper passengers to make a contactless charity donation
- Worldpay advisers are in discussions with Vantiv about a binding commitment to locating the combined group’s international headquarters in the UK. The two sides are also negotiating a possible secondary listing of the company’s shares on the London Stock Exchange. Insiders have indicated that a Takeover Panel deadline for a firm offer by 1 August 2017 may need to be extended
- Samsung is reportedly considering opening up Samsung Pay to rival smartphones
- Stripe has acquired Payable to help make it easier for platforms and marketplaces on Stripe Connect to undertake their tax reporting obligations globally
- Visa has announced a global partnership with Marqeta, the open API issuer/processor platform, that will increase the range of use cases for the instant issuance of physical, virtual and tokenized payments
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