The Committee takes the view that the growth of crypto-assets and related services has the potential to raise financial stability concerns and increase risks faced by banks.
The Financial Stability Board (FSB) has published a report that considers the financial stability implications from an increasing offering of financial services by BigTech firms. Report.
A range of issues arise for policymakers, including additional financial regulation and/or oversight. Regulators and supervisors also need to be mindful of the resilience and the viability of the business models of incumbent firms given interlinkages with, and competition from, BigTech firms.
The document provides an overview of the most important threats in the payments landscape, including social engineering and phishing, malware, Advanced Persistent Threats (APTs), mobile device related attacks, (D)DoS, botnets and threats related to cloud services, big data, IoT and virtual currencies.
Mastercard and Doconomy have extended their joint effort to combat climate change.
The new arrangement brings the ability for any Mastercard issuer to offer their cardholder the ability to track and understand their carbon footprint based on purchases made. The first bank in the U.S. and Nordea in the Nordics have announced they will join The Bank of Åland in enabling clients to track and measure their CO2 impact through the Åland Index.
The initial in-market pilot will take place with Australia Post and Deakin University with a distributed model that blends information stored on an individual’s mobile device and verified by additional reference points, such as an individual’s bank or participating government agencies. It eliminates the need for a centralised identity database. Additional partnerships and pilots will be introduced across a number of markets throughout 2020.
Andreesen Horowitz Blog – The Video-First Future of Ecommerce
Posits the view that TikTok, YouTube and Instagram are the likely “future of ecommerce” as short video sharing platforms continue to attract sellers. The VC says that manufacturers, craftspeople and entrepreneurs are using the platforms to bypass retailers and sell to shoppers directly as shoppable links begin to appear in videos.
The deal will see a phased rollout of Bud’s technology, initially within HSBC’s challenger first direct brand, then HSBC itself later in 2020. The agreement covers scope for HSBC to use Bud’s technology in other global markets, as well as using Bud’s switching service.
Workers at Vibenshuset, an office community of 25 companies in Copenhagen – can sign up to participate in the pilot. By linking their face with their employee ID card, they can now pay for their lunch using their face at Kokkenes Køkken’s cafeteria. The solution being trialled is easy for merchants to install, requiring just a tablet with a pre-installed webcam and app.
The integrated service, initially available in Spain, is also planned to go live in Romania, Hungary, Czech Republic and Bulgaria. TransferWise plans to continue to collaborate with Visa and scale its offering using Visa Direct in Europe and globally.
The financing will allow Nuvei to bolster both its organic and acquisition growth plans post the acquisition of SafeCharge International.
Users gain access by scanning their debit card, with cameras and ‘smart shelves’ tracking purchases and automatic payment on exit. Similar to Amazon Go but does not require an app.