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digital payments News

eBay climbs 15 percent on decision to abandon PayPal

eBay has announced it will abandon its long-serving payments partner PayPal. The company is bringing its payment systems in-house and will directly mediate between merchants and buyers. eBay said the change will improve the customer experience.

North Korea allegedly hacking PCs to mine Monero cryptocurrency

North Korea has been accused of hacking server networks to install mining scripts for the Monero cryptocurrency. A new Monero mining hacker group has been seizing control of servers over the past year. It's now been linked back to North Korea.

Google's new 'Tez' payments app uses ultrasound to send money

As previously rumoured, Google has announced a new mobile payments service aimed specifically at Indian consumers. The app is designed to replace cash and includes support for instantaneous transactions. They can be sent using ultrasound signals.

Bitcoin plummets on news China may ban cryptocurrency exchanges

The value of Bitcoin has plummeted on reports China is preparing a ban on cryptocurrency exchanges. If the decision is confirmed, it will be the second hostile move against the $150bn cryptocurrency market in under a week. China's already banned ICOs.

EU could relax banking software rules in response to fintech rise

The EU is considering relaxing banking software rules to help banks resist competition from fintech providers. As fintech usage surges, traditional lenders are finding they're unable to invest in their own web-based platforms due to European regulations.

Digital payments now more popular than cash

Digital payments are now popular than cash as app-based methods become more widely supported. Every major mobile operating system now comes with a built-in payment provider. Adoption amongst banks and retailers is also on the rise.

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