Sunday , October 22, 2017

Digital Currency

Eye on Cross-Border Payments: BBVA Launches App-Based Transfers; Glance ‘s License

Money transfers took a step toward app-based processing on Monday with news that BBVA is launching a service that will let persons in the United States use their smart phones to send money to recipients in Mexico. Later, the service will expand to the Caribbean and the rest of Latin …

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IBM Unveils a Blockchain-Based Cross-Border Payment Service

International Business Machines Corp. on Monday announced a new service for financial institutions that uses blockchain technology to reduce settlement times and lower transaction costs. IBM is offering the service with Stellar.org., a Silicon Valley-based non-profit that runs the open-source Stellar blockchain network to bring low-cost financial services to low-income …

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AmEx Anti-Steering Case Moves to Supreme Court and other Digital Transactions News Briefs from 10/16/17

The Supreme Court agreed to hear a controversial antitrust case in which American Express Co. is defending its anti-steering rules for merchants against challenges from 11 states led by Ohio, Reuters reported. Payments provider TransCard Payments LLC announced a partnership with ExpenseAnywhere, an accounts-payable software developer. Travel Centers of America …

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Fed Names Faster Payments Work Group and other Digital Transactions News briefs from 10/13/17

The Federal Reserve released the names of 27 payments-industry executives who will serve on a work group focused on developing a governance framework for faster payments in the United States. Fifty-five percent of U.S. credit and debit card spend is now on chip cards and 96% of the top 200 …

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Unstoppable? Shrugging off Setbacks, Bitcoin Rallies to Crash the $5,000 Price Barrier

Bitcoin’s remarkable ride continued early Thursday as the world’s most valuable digital currency broke through the $5,000 level and reached an all-time high price just over $5,200, according to Coinmarketcap.com. Bitcoin had been flirting with the $5,000 barrier for weeks, and indeed briefly broke through it early in September on some …

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A Canadian Startup Mates Contactless With Cryptocurrency in a Fledgling Wallet

With Bitcoin trading at $4,300 and Ethereum at $300, most of the attention in the payments world has been on the cryptocurrencies’ value as an investment rather than as a payment method. Now, a year-old Toronto-based startup hopes to change that by enabling contactless point-of-sale transactions using Ether, the Ethereum …

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Blockchain Tech And ICOs Get the Attention of a New Unit Formed by the SEC

A new unit formed by the enforcement division of the Securities and Exchange Commission will have among its responsibilities “violations involving distributed-ledger technology and initial coin offerings,” according to an announcement from the SEClate Monday. What the agency calls its Cyber Unit will also focus on market manipulation via social …

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Why Aliant Payment Systems Is Getting Set To Apply the ISO Model to Bitcoin Acceptance

Years ago, when banks wanted to sign up more merchants for credit card acceptance, they turned to non-bank third parties to sell the service. Now, these same third parties are starting to sell Bitcoin acceptance along with credit and debit cards. Aliant Payment Systems Inc., a Fort Lauderdale, Fla.-based independent …

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Processor Aliant Strikes a Deal With BitPay to Sell Merchants on Bitcoin Acceptance

Payments provider Aliant Payment Systems now offers Bitcoin acceptance for merchants through a deal with BitPay Inc., a Bitcoin processor, Aliant announced Monday. Fort Lauderdale, Fla.-based Aliant says the relationship makes it one of the first payment-processing companies to offer merchants Bitcoin acceptance. It is doing this, in part, because …

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