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Apple’s Mobeewave Deal Could Turn iPhones Into No-Dongle POS Devices—Just Not Right Away

Apple’s Mobeewave Deal Could Turn iPhones Into No-Dongle POS Devices—Just Not Right Away

Apple Inc. has reportedly acquired technology that enables smart phones equipped with near-field communication to act as point-of-sale devices with no other hardware. In the deal, news of which broke as the weekend began, the Cupertino, Calif.-based iPhone maker has bought Mobeewave Inc., a 9-year-old technology firm based in Montreal.

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Durbin Asks Fed to Probe Visa, Mastercard, Issuers Over PINless Purchases

Durbin Asks Fed to Probe Visa, Mastercard, Issuers Over PINless Purchases

Dive Brief: Sen. Dick Durbin, D-IL, asked the Federal Reserve in a letter Friday to examine whether payment networks Visa and Mastercard and debit card issuers are engaging in anticompetitive practices when issuers don’t enable PINless functionality, according to The Wall Street Journal.

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How the COVID-19 Pandemic Could Lead to a Permanent Shift in Digital Banking

The COVID-19 pandemic has rattled the financial industry more than any event since the Great Recession. Banks have been designated as essential businesses and have largely remained open, but the normal way of doing business has all but disappeared.

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eBay Can Finally Manage Payments Unhampered by PayPal as Agreement Expires

eBay Can Finally Manage Payments Unhampered by PayPal as Agreement Expires

eBay (NASDAQ: EBAY) announced today that it will begin a massive expansion of the payments processing business on its platform. Until now, the company has faced certain restrictions due to an agreement with PayPal (NASDAQ: PYPL), which has expired.

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Apple Is Facing a Class-action Lawsuit That Alleges an iTunes Gift Card Scam Has Swindled $1 Billion From Customers, With $300 Million of That Landing in the Company’s Pockets (AAPL)

Seven customers have filed a class-action lawsuit against Apple, accusing the company of allowing an iTunes gift card scam to swindle almost $1 billion from people, per a Patently Apple report. The complaint, filed Friday, also pushes back against the company’s claims that the funds are irretrievable.

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The Timing of Apple’s QR Code Payments in IOS 14 Isn’t Accidental

The Timing of Apple’s QR Code Payments in IOS 14 Isn’t Accidental

Last week it was revealed that Apple -0.5%AAPL looks likely to launch QR code payment functionality within iOS 14. This means that people can use their iPhone cameras to scan a QR code to make a payment. The NFC (near field communication) functionality Apple Pay is currently based upon isn’t innovative.

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Banks Need to Think Like Google and Not Just Follow It

Banks Need to Think Like Google and Not Just Follow It

Banks are going beyond acquiring and using technology from the likes of Google, Microsoft and Amazon by recruiting the brains to enable them to think like the tech giants. The role of AI in the war against pandemics We look at how AI and data science are supporting the global push to deal with the […]

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Juniper Sees Digital Loyalty Surge to 48 Billion

Juniper Sees Digital Loyalty Surge to 48 Billion

Membership in digital loyalty programs are expected to rise by 30% to reach 48 billion by 2023, according to a new report from Juniper Research. The projected digital loyalty membership compares with 37 billion currently.

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24 Big European Banks Take on Visa, Mastercard With Their Own Payment System

24 Big European Banks Take on Visa, Mastercard With Their Own Payment System

A group of big European banks is planning to challenge Visa’s and Mastercard’s positions as the world’s two largest payment processing networks, Electronic Payments International reported.

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Wirecard’s U.S. Unit Bids for a New Owner as Rivals Sense an Opportunity to Win New Business

Wirecard’s U.S. Unit Bids for a New Owner as Rivals Sense an Opportunity to Win New Business

The fallout from the Wirecard AG financial scandal has hit the U.S. market as the processor’s North American unit announced late Monday it is seeking a buyer. Wirecard North America Inc., based in Conshohocken, Pa., said it has engaged an unnamed investment bank to assist in the transaction.

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No Longer Sleepy Associations, Mastercard and Visa Are Fintechs

No Longer Sleepy Associations, Mastercard and Visa Are Fintechs

It used to be that credit and debit card companies connected the four-parties involved in branded network payments through non-profit associations. These non-profits facilitated interbank clearance so that a card payment drawn from bank “X” could clear against a merchant account serviced by bank “Y.

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Wirecard Files for Insolvency After Ex-CEO Arrested in $2 Billion Scandal

Wirecard Files for Insolvency After Ex-CEO Arrested in $2 Billion Scandal

Wirecard has filed for insolvency, just days after a $2 billion accounting scandal at the company burst into the open, crashing its stock and leading to the arrest of its former chief executive.

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