What's New in Payments

Facebook adds grocery ordering to WhatsApp in India

Facebook-backed Reliance Jio pilots basic grocery ordering service on WhatsApp in India — The Next Web — “Less than a week ago, Facebook announced it was investing $5.7bn into India’s largest mobile carrier, Reliance Jio. We now have an idea of how the two giants plan to collaborate: The latter’s ecommerce arm, JioMart, is now testing a system for WhatsApp users to order goods via the messaging service.”


What's New in Payments

Facebook scales back its digital currency plans

Facebook-backed Libra cryptocurrency project is scaled back — The New York Times — “The Libra project will now focus on creating a more traditional payment network in which coins will be tied to a local currency, somewhat like the digital dollars in a PayPal account. While Libra will also have a coin backed by multiple national currencies, which was the focus of the initial design documents, that will be less prominent.”




What's New in Payments

Payments networks to drop support for Facebook’s Libra digital currency?

Visa, Mastercard, others reconsider involvement in Facebook’s Libra network — The Wall Street Journal — “Visa Inc, Mastercard Inc and other financial partners that signed on to help build and maintain the Libra payments network are reconsidering their involvement following a backlash from US and European government officials, according to people familiar with the matter.”


What's New in Payments

Facebook to partner with banks for WhatsApp payments rollout?

WhatsApp in talks to launch mobile payments in Indonesia — sources — Reuters — “Unlike in India where it plans to offer direct peer-to-peer payment services, WhatsApp will simply serve as a platform in Indonesia supporting payments via local digital wallets due to tough licensing regulations… The Indonesia model could become a template for WhatsApp to adopt in other emerging markets to get around regulations on foreign players creating their own digital wallets, the sources said.”



What's New in Payments

Visa, Mastercard and PayPal back Facebook’s Libra cryptocurrency launch

The Libra Association — Libra — “Libra is a global, digitally native, reserve-backed cryptocurrency built on the foundation of blockchain technology. People will be able to send, receive, spend, and secure their money, enabling a more inclusive global financial system… The Libra Association is made up of a group of diverse organizations from around the world… This initial group of organisations will work together to finalize the Libra Association’s charter and will become the association’s Founding Members upon its completion.”


What's New in Payments

Facebook unveils its blockchain digital wallet plan

Coming in 2020: Calibra — Facebook — “Today we’re sharing plans for Calibra, a newly formed Facebook subsidiary whose goal is to provide financial services that will let people access and participate in the Libra network. The first product Calibra will introduce is a digital wallet for Libra, a new global currency powered by blockchain technology. The wallet will be available in Messenger, WhatsApp and as a standalone app — and we expect to launch in 2020.”


What's New in Payments

Facebook to roll out GlobalCoin digital currency in ‘a dozen countries’ next year

Facebook plans to launch ‘GlobalCoin’ currency in 2020 — BBC — “Facebook wants to create a digital currency that provides affordable and secure ways of making payments, regardless of whether users have a bank account. The social networking site, which owns WhatsApp and Instagram, is hoping to disrupt existing networks by breaking down financial barriers, competing with banks and reducing consumer costs.”




What's New in Payments

Facebook Messenger to shutter its P2P payments service in UK and France

Facebook will scrap Messenger payments in the UK and France — Engadget — “Facebook will discontinue peer-to-peer Messenger payments in France and the UK on 15 June, the company told Engadget. ‘After evaluating how we give people the best experiences in Messenger, we made the decision to focus our efforts on experiences that people find most useful,’ Facebook said.”


What's New in Payments

WhatsApp Payments to launch in UK, Mexico and Brazil?

WhatsApp Payments reportedly coming to Mexico, Brazil, UK next — NDTV — “According to WABetaInfo, a prolific tipster of upcoming WhatsApp features, three countries — Brazil, Mexico, and [the] UK — will be getting WhatsApp Payments next… The service was introduced in beta in India last year but is yet to roll out to all users in the country because of regulatory hurdles.”


What's New in Payments

Facebook to offer WhatsApp payments in Africa?

Facebook in talks with banks about mobile payments in Africa — BusinessDay — “Facebook is in talks with financial institutions about possible mobile payment collaborations in Africa, says Carolyn Everson, a vice president at the social networking group… ‘We’re definitely interested in helping facilitate payments — it’s more of a 2020 roadmap for us than a 2019 one — but we’re having those initial conversations with some of the larger financial services companies.”


What's New in Payments

Apple Pay hits launch hurdles in India

After Amazon and WhatsApp, Apple orders ‘stop payment’ — The Economic Times — “Silicon Valley giant Apple has shelved plans to launch a Unified Payments Interface-based payments platform in India after landing in a regulatory grey zone that has stalled the full rollouts of similar products by Amazon and WhatsApp as well. Apple put the brakes on introducing Apple Pay in the country despite holding discussions with a few leading banks and the National Payments Corporation of India, which manages the UPI platform, said two people with knowledge of the matter.”


NFC World

Google rolls out Titan Security Keys with NFC

Titan Security Keys: Now available on the Google Store — Google — “In July, we announced Titan Security Keys, Fido security keys built with a hardware chip that includes firmware engineered by Google to verify the keys’ integrity. Starting today, Titan Security Keys are available for purchase on the Google Store… Security keys can be used to authenticate to Google as well as Dropbox, Facebook, GitHub, Salesforce, Stripe, Twitter, and other services that support Fido standards.”


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