Confirming speculation that it was having second thoughts about officially joining the Libra Association, PayPal Holdings Inc. disclosed Friday afternoon that it was withdrawing from the controversial cryptocurrency project proposed by Facebook Inc. “PayPal has made the decision to forgo further participation in the Libra Association at this time and …
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In a bad week for cryptocurrency, a news report emerged late Thursday that PayPal Holdings Inc. skipped a key meeting of backers of Facebook Inc.’s Libra initiative. And, in the state of Ohio, officials on Wednesday suspended a pioneering site that accepted business taxes via Bitcoin. Twenty-seven of the 28 …
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A report Wednesday that at least some members of the consortium backing Facebook Inc.’s Libra cryptocurrency project—including Visa Inc. and Mastercard Inc.—are having second thoughts has drawn fire from the top Facebook executive in charge of the project. “The tone of some of this reporting suggests angst, etc….I can tell …
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The Federal Reserve, which is taking industry comments on its upcoming FedNow real-time payments network until Nov. 7, said common questions so far involve pricing and the scope of the service. The first question can’t be answered yet, and the second touches on services that will be designed by financial institutions building on top …
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Policymakers have much work ahead when reviewing cryptocurrencies like the proposed Libra, a European regulator said Wednesday. In related news, a cryptocurrency payment plugin debuts for WordPress. The Libra cryptocurrency project led by Facebook Inc. has “undoubtedly been a wake-up call for central banks and policymakers,” said Benoit Coeure, a …
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A survey by processor Fidelity National Information Services Inc. (FIS) found that 54 countries now have active real-time payment programs, up from 40 in 2018 and nearly four times as many as 2014.Cross River Bank, which specializes in services for technology companies, has applied to link to The Clearing House Payments Co.’s Real Time …
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Turnkey Risk Solutions, a risk-management firm specializing in first-party fraud, rebranded as Humaitrix LLC. Payments veterans John J. Leehy III joined the company as chief executive and Gregory W. Sahrmann joined as the chief operating officer. Amy Walraven, a former JPMorgan Chase & Co. risk executive, is founder, president, and chief …
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Financial-technology provider Plaid Inc. disclosed that it has received “strategic investments” from both Mastercard Inc. and Visa Inc.Digital payments and competition from nonbanks in payments may cost banks as much as 15% of their global payments revenue, or $280 billion, says Accenture in its “2019 Global Payments Survey.”Visa said it is working with insurance …
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The Libra Association announced Wednesday it has filed a request with the Swiss Financial Market Supervisory Authority (FINMA) for a ruling that would clarify Libra’s status and that of the Libra coin. The association also said it plans to file an application with FINMA for a license to operate as …
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Mastercard Inc. said it will act as the clearing and settlement network for a cross-border payments service the company has agreed to develop with R3, a blockchain-software vendor.Some 74% of online transactions globally are for digital goods and services, with ride-share service and restaurant delivery ranking as the first and second most used …
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