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Payments round-up: 30 November 2017

We did say there will be no quiet days. Coming straight after yesterday’s (29 November) action, we bring another payments round-up. Features Interac, nanopay, Remitr, ADGM, Nordea, Nets, Facebook and Amazon.

Facebook data privacy lawsuit is worth keeping an eye on

Large companies getting sued is nothing particularly new, but a lawsuit over whether Facebook has violated the data privacy rights of European citizens might make quite a splash, reports Telecoms.com (Banking Technology‘s sister publication). As reported back in September, Facebook was slapped with a fine from the Spanish data protection watchdog for inappropriately collecting and […]

Payments round-up: 7 November 2017

A distinctly European feel in our latest payments round-up. Stars Facebook Messenger, the UK’s Payment Systems Regulator, Concardis and AliPay. The UK will be the first country outside the US to get the Facebook Messenger payments service. Messenger was launched in the US in 2015 and lets people transfer cash during any conversation within the […]

Sibos 2017: social media – identity capitalism

“Our social and business communications are edited by tech,” Vladan Joler, director of Share Foundation, stated at the Sibos Innotribe panel, How does Facebook know you better than you know yourself?.

Facebook feels sharp end of Spanish privacy stick

Facebook has been slapped with a fine from the Spanish data protection watchdog for inappropriately collecting and using personal information on some of its Spanish users, reports Telecoms.com (Banking Technology’s sister publication). The fine, although a bit of a meagre one, is for violating Spain’s Organic Law on Data Protection (LOPD), with the Spanish data […]

WhatsApp mulls business revenue stream

Facebook-owned IM service WhatsApp reckons it might finally be able to make some money by charging businesses for clever access to their punters, reports Telecoms.com (Banking Technology’s sister publication). Apparently quite a lot of people already use WhatsApp around the world to interact with shopkeepers and other relatively simple business transactions such as placing orders, […]

WhatsApp to introduce payments feature

Facebook-owned messenger app WhatsApp submitted a new update through the Google Play Beta Programme, which will make payments available in the app’s new version.

Facebook has a whoopsy as AI programme invents own language

Artificial intelligence (AI) detractors have just been given a bit more ammo after Facebook has had to shut down one of its programmes after it invented its own language, reports Telecoms.com (Banking Technology‘s sister publication). While it would not be considered realistic for AI to rise up and take-over the world in the near future, […]

Facebook looks to Messenger for future growth… but not yet

Facebook CEO Mark Zuckerberg has cast his sights on monetising his OTT platforms Messenger and WhatsApp, but don’t expect miracles any time soon, reports Telecoms.com (Banking Technology‘s sister publication). The financial performance of the company is exactly what you would expect; another quarter of monstrous growth. Total revenues hit $9.164 billion, a year-on-year increase of […]

PFS deal to provide Moneymailme users with prepaid cards

Users of Moneymailme will have the option of using physical and virtual prepaid cards to make purchases with the funds in their e-wallets. The new feature, announced June 28 at the Money 20/20 Europe conference, is the result of a partnership between the London-based social money transfer provider Moneymailme and Prepaid Financial Services, a U.K.-based payments technology provider.

Facebook’s Q1 results and five things for financial services

With the release of Facebook’s Q1 2017 results, there are five things worth your attention about its strategy that are relevant for financial services. In its latest results, Facebook announced a major emphasis in solving for communities and reiterating the key messages from its F8 developer conference. Q1 2017 profit is +76.6% YoY to $3.06 […]

RateSetter gets Plum deal for investing

Plum, an artificial intelligence (AI) powered Facebook chatbot, has teamed with peer-to-peer investing platform RateSetter to encourage the UK to save more. Plum says its algorithm understands spending patterns, identifies income and bills and creates a unique profile for each one of its users. It calculates a small amount of money to save or invest […]

Facebook Messenger v1.2 enables native payments in chatbots

Facebook has announced its Messenger bots can now accept payments natively, without redirecting users to external sites. The announcement was made by David Marcus, head of Facebook Messenger, at the TechCrunch Disrupt conference in San Francisco, as he unveiled the launch of the Messenger platform v1.2.

Absa launches digital wallet and ChatBanking for Facebook Messenger

Absa has launched a MasterCard-powered digital wallet and ChatBanking for Facebook Messenger. ChatBanking will let customers conduct banking without having to leave the social media platform; and follows on from the recent introduction of Absa ChatBanking on Twitter in May. Ashley Veasey, group CIO and chief digital officer at Barclays Africa (Absa is majority owned […]