Tuesday , March 31, 2020

Another Libra Departure and other Digital Transactions News briefs from 1/22/20

  • British telecommunications giant Vodafone Group Plc has become the latest Libra participant to withdraw from the controversial digital-currency project initiated by Facebook Inc., Reuters reported. Other early participants that have withdrawn include Visa, Mastercard, PayPal, Stripe, and eBay.
  • With an eye on expanding its Bitcoin services, merchant processor Square Inc. said it is developing what it calls its “Lightning Development Kit” that will include an application programming interface and other tools for digital-wallet and software developers. The Lightning Network is a so-called layer on top of some cryptocurrencies’ underlying blockchain technology that creates channels connecting users, producing faster transaction times than available through straight blockchain processing.
  • Computer Services Inc. announced Sentry Bank has chosen core-processing services from CSI, along with online-banking, mobile-banking, and peer-to-peer payment technology
  • InComm, a provider of prepaid and other payments services, said it has partnered with instant-ticket specialist Pollard Banknote to allow lotteries to offer instant tickets, which can then be scanned at the point of sale to launch a lottery game.
  • Point-of-sale equipment supplier Touch Dynamic released a new version of its Quest VIII tablet.
  • The Western Union Co. said it will work with Bharti Airtel Ltd., a telecom operator in 18 countries across Asia and Africa, to offer real-time payments into Airtel bank accounts in India and mobile wallets in 14 countries in Africa.
  • Payments-technology provider i2c Inc. said it has agreed to offer credit, debit, and prepaid card services to European issuers through CardFlows, a cloud-based payments software provider.
  • Electronic funds transfer network Pulse appointed Jennifer Schroeder executive vice president for product management, succeeding Judith McGuire, who has joined Discover Financial Services, Pulse’s parent company. Schroeder was previously EVP for operations, a role that will be filled by Jim Lerdal, formerly vice president for fraud operations.
  • Brex Inc., a provider of customized corporate payment cards, said it has hired Paul-Henri Ferrand as chief operating officer. Ferrand comes to the company from Alphabet Inc.’s Google unit.
  • Fidelity National Information Services Inc. (FIS) said it will use the former suburban Cincinnati headquarters of Worldpay Inc., the big payment processor FIS acquired last year, as a “strategic technology and innovation campus.”

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