12.7.18 Your morning briefing

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The information you need to start your day, from PaymentsSource and around the Web:

Binge watching
Hulu has added Venmo as a payment choice for its streaming television service. The deal allows Venmo to extend its reach into the expanding market for subscription payments, and could help the social payments app boost its revenue sources — a top priority for PayPal, Venmo’s parent company.

As part of that strategy, Venmo has entered into collaborations with companies such as Amex and Uber that have dramatically boosted its volume.

Bloomberg News

Counting on cash’s replacement
Venture capital firms IGNIA and Dalus Capital have poured $6.5 million into UnDosTres, a digital payment firm that operates primarily in Mexico. Banco Sabadell’s digital hub InnoCells also participated in the funding round.

UnDosTres supports Android, iOS, desktop and mobile web payments for uses such as bills, P2P, mobile top-ups, movie tickets and tolls, reports Verdict.

IGNIA told Verdict that UnDosTres is particularly attractive because cash is responsible for most of those payment types in Mexico.

Going airborne
Wirecard is expanding its loyalty business in Europe, a move that should get a boost as it picks up more business from Wizz Air, which serves Central and Eastern Europe.

Wirecard, which processes payments for the airline, will add acquiring services for Wizz Air though the IT platform of another partner, Navitaire.

This will support booking, payments, and other services through a single platform that supports multiple channels for the low cost carrier.

A 788 percent hike, but still small
There has been a lot of bad cryptocurrency news recently, so it’s not a good time for a huge spike in potential fraud.

In Japan, there were 5,944 reports of suspicious transactions, which mostly involved money laundering, in 2018 through the end of October, reports Coindesk.

How much of a spike is that? It’s 788 percent more than the 669 suspicious transactions that were reported in Japan from April to December 2017.

If there is any silver lining, the nearly 6,000 bad crypto transactions this year are still only 1.7 percent of the overall tally of suspicious transactions in Japan, which totalled nearly 347,000.

From the Web

Tencent and Line Team Up to Counter Alibaba in Japan
The Motley Fool | Thu December 6, 2018 – Tencent is partnering with Line to provide mobile payment services to Japanese retailers. Line will lease out terminals that are compatible with Tencent’s WeChat Pay platform to small to mid-sized restaurants and retailers that haven’t adopted its Line Pay service yet.

Mobile payment co. Boku acquires Danal for up to $68M to add user authentication
TechCrunch | Thu December 6, 2018 – Today, Boku announced the acquisition of Danal, Inc., a specialist in mobile identity and authentication services, so that it can offer more sophisticated transaction services and also to move into new areas.

Exclusive: Clues in Marriott hack implicate China – sources
Reuters | Thu December 6, 2018 – Hackers behind a massive breach at hotel group Marriott International Inc left clues suggesting they were working for a Chinese government intelligence gathering operation, according to sources familiar with the matter.

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Pindrop raises $90 million, adds new CFO and CRO
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John Adams

John Adams

John Adams is Executive Editor of PaymentsSource.

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