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TechCrunch

What Microsoft should demand in exchange for its ‘payment’ to the US government for TikTok – TechCrunch


In one of the crazier news stories (and in 2020, that is saying something), President Donald Trump said today during a media availability event that in order for the U.S. government to sign off on a potential Microsoft/TikTok deal, “a very substantial portion of that price is going to have to come into the Treasury of the United States,” based on my colleague Alex Wilhelm’s rough transcript.

That seems nearly impossible to actually execute in reality (corporations don’t just quote-unquote bribe the U.S. government to get their docs signed), but let’s actually take it at face value: Should Microsoft pay, and if so, what should they demand in any bargain with the U.S. government? Read More

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The Verge

Apple reportedly acquires startup that could turn iPhones into payment terminals


Apple has acquired a startup with technology that could turn iPhones into mobile payment terminals, Bloomberg reported. Montreal-based Mobeewave has tech that requires only an NFC chip to work, allowing users to tap either their smartphone or a credit card to another phone for payment processing. NFC chips have been included in iPhones since the iPhone 6. And while Apple Pay lets shoppers tap their iPhones to pay at a retail store, adding Mobeewave could allow any iPhone to accept payments without extra hardware like a card reader. Read More

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Engadget

Apple’s latest acquisition could turn iPhones into payment terminals


An Apple spokesperson didn’t confirm the acquisition outright, only giving the publication a standard response:

“Apple buys smaller technology companies from time to time and we generally do not discuss our purpose or plans.”

The tech giant did snap up a few smaller companies over the past months. Back in January, it purchased Seattle-based AI startup, Xnor.ai, which developed a way to operate AI on devices rather than in the cloud. It also purchased virtual reality startup NextVR, which is known for its partnerships with sports entities, such as the NBA. Read More

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The Verge

CVS is adding another kind of touch-free payment: PayPal and Venmo QR codes


CVS is expanding its payment options by teaming up with PayPal to use its QR codes as another touch-free form of payment at the retail pharmacy chain. PayPal and Venmo users can pay with money that’s already in their account instead of having to pay with a credit card, and Venmo users can also use Venmo Rewards to pay for items, all “without needing to touch a keypad or sign a receipt.”

CVS says the new QR codes will arrive at 8,200 of its US stores in the fourth quarter of 2020. Since we’re in the middle of an ongoing pandemic, it’s not the most ideal to be touching in public, so if you don’t have tap-to-pay on your phone or simply don’t use it, it’s another way to do touch-free payment at stores. Read More

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Tech Radar

Businesses could save cash by embracing payment optimisation tech

Businesses are losing millions annually due to failed transactions, new research has found.

The report from GoCardless claims that the number is increasing year on year, with businesses that use manual, labour-intensive procedures to chase up and collect cash suffering the worst.

GoCardless survey data has found that enterprise businesses could be losing up to £1m annually and those in the mid-market circa £200k plus. Small businesses could be taking a hit of over £6k a year.

Payments collected via digital wallets were identified as having the highest failure rate at 12%. These were closely followed by credit and debit cards, at 8.2%, which is nearly three times as high as businesses using optimisation services like those offered by GoCardless. Read More

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Tech Radar

Careem enters digital payment platform to take on Apple and Samsung Pay

Ride-hailing platform Careem has entered into digital payments platform and is gearing up to take on Apple Pay and Samsung Pay.

The platform has partnered with Visa to integrate its credentials into the Careem Pay super app wallet across the Middle East and North Africa region.

“We plan to bring more use cases as a large mode of payments still happens in cash. As we move to our super app journey, we offer our Careem captains (drivers) with financial payment services to resolve liquidity challenges associated with cash conversion due to Covid-19, low-cost remittances and real-time access to funds,” Junaid Iqbal, Managing Director at Careem Pay, said. Read More

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ZDNet

Reserve Bank of Australia helping agencies access new payment features


While the Reserve Bank of Australia (RBA) plays a significant role in the country’s financial trading market, it is also a bank for all Australian government agencies.

And like other major banks, the RBA realised it needed to be “effective, efficient, and have great customer service, and obviously, provide value-add services to aid agencies to deliver on their services to the Australian public,” according to RBA banking technology senior manager David Zufic.

Speaking as part of Mulesoft Connect Digital 2020, Zufic explained how in realising its role, the RBA underwent a five-year transformation program that was broken down into three parts. Read More

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TechCrunch

African payment startup Chipper Cash raises $13.8M Series A – TechCrunch


African cross-border fintech startup Chipper Cash has closed a $13.8 million Series A funding round led by Deciens Capital and plans to hire 30 new staff globally.

The raise caps an event filled run for the San Francisco based payments company, founded two years ago by Ugandan Ham Serunjogi and Ghanaian Maijid Moujaled.

The two came to America for academics, met in Iowa while studying at Grinnell College and ventured out to Silicon Valley for stints in big tech: Facebook for Serunjogi and Flickr and Yahoo! for Moujaled. Read More