Saturday , June 6, 2020

Pandemic Scammers Emerge and other Digital Transactions News briefs from 3/20/20

  • TriNet Group Inc., a human-resources software provider, said a wave of scammers are exploiting the Covid-19 pandemic to gull people into buying so-called cures for the disease (no cure yet exists), as well as fake testing kits and vaccines.
  • The Western Union Co. reported its digital money-transfer business “has continued to experience strong transaction growth through late March” in the face of the Covid-19 pandemic. Lockdown policies in many parts of the world, however, have led to the closing of some Western Union locations, the company said, leading to a “more pronounced” year-over-year drop in its retail money-transfer business in late March “that will likely continue for the near term.” The company did not cite specific numbers.
  • Processor Stripe and Keap, a business-services platform, said their new partnership will enable Stripe to provide payment services to Keap clients in North America, Europe, Asia, and Latin America.
  • Merchant acquirer Payroc LLC announced its internal marketing team now focuses on providing free marketing agency services, such as Web-site features, e-commerce and shopping cart development, and graphic design services, to small and mid-size businesses as the nation contends with the Covid-19 pandemic.
  • The Venmo and Cash App payments services have been talking to the U.S. Treasury Department about using the services to distribute stimulus money to individuals, according to CNN. Venmo and Cash App are peer-to-peer services of PayPal Holdings Inc. and Square Inc., respectively.
  • Sapiens International Corp. said it is working with Splice Software to streamline communications and other functions for insurance agencies, including claims processing and payments on overdue accounts.
  • Spain’s Santander Bank intends to roll out in Mexico this year a blockchain-based international payments network called One Pay FX from Ripple Labs Inc. One Pay FX is separate from Ripple’s XRP digital currency.
  • In related news, Coinbase Commerce’s blockchain-based payments service for e-commerce merchants has passed $200 million in total transactions since launching two years ago, according to CoinTelegraph. Coinbase Commerce is a service of digital-currency exchange Coinbase Inc.

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