Fintech Digest: Visa calculates Moscow's benefits of a bank transfer, PayPal VS cryptocurrency, Amazon plans something big
Hi, Habr! Over the past week in the world finteha happened a lot of interesting things. And in this interesting Visa, Paypal, and also other companies and organizations of smaller scale are involved.
So, this week Visa was noted with one of their projects. According to the company, Moscow is a metropolis where the population still prefers cash as settlements. The study of the distribution of non-cash payment technologies and transactions was conducted by Visa in the framework of the project “Cities without cash”. The project is large-scale, its participants investigated the payments of the population in 100 cities of 80 countries of the world.
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So, it turned out that Moscow is not at the peak of technological development. It belongs to the category of cities that are in the process of transition to digital technologies, together with Istanbul, Bucharest, Kiev and Minsk. The best of all with paperless calculations is the case in Copenhagen, London, Toronto, Sydney, Hong Kong. But there are cities where non-cash is not used as actively as in Moscow. This is Mexico City, Cairo, Jakarta, Casablanca, Buenos Aires.
Experts who conducted the study believe that if Moscow increases the level of bank transfer, the overall economic effect will be $ 8.5 billion. Naturally, plus and not minus.
And Visa does not like cryptocurrency. More precisely, the financial director of Visa payment giant Vasant Prabhu spoke out against her. He said that due to its anonymity, cryptovalts are popular among corrupt officials and other categories of criminals. Prabhu also believes that the cryptocurrency world is now enclosed in a “bubble” that will burst sooner or later.
PayPal - we somehow missed in the past issues the information that the company is developing its own cryptocurrency payment system. The main goal is to increase the speed of transactions. The technology is patented, information is available on the website of the United States Patent and Trademark Office. Developers are creating a new system in order to reduce the time it takes to confirm transactions and the appearance of a new unit on the network.
But at the same time, some PayPal users literally yesterday received letters from the administration warning that activities involving the transfer or trading of cryptocurrency are prohibited by the policy of using the service and should be immediately terminated. So far, the company's press service has not commented on the letters, but they clearly indicated that trading in cryptocurrencies or carrying out any other transactions with it, involving PayPal, is contrary to the Acceptable Use Policy.
And, by the way, Dan Shulman, the company's general director, said at the beginning of the year that Bitcoin is an unsuitable tool for transferring value. That is, bitcoin is difficult to use as a usual currency for sellers and buyers, since its volatility is very high.
Amazon is currently negotiating with the world's largest banks, including JPMorgan Chase & Co. Information about the essence of the project is not so much, but it can be understood that the company plans to create a customer service that is similar in functionality to a bank account that a retailer could offer customers for transferring funds. Perhaps this is just a concept that will not develop, but it may well be that Amazon will actually create a hybrid bank account for customers, which will help the company reduce the commission that the IT giant pays to financial intermediaries and get information about the costs of the system participants. A company can afford to do something new, since its capitalization exceeds $ 700 billion.
Well, in the world of cryptocurrency a lot of things happened. Now market capitalization is falling on a wave of negative news. Some of them consist in the fact that large companies, for example, Facebook, prohibit advertising on their sites both cryptocurrency and ICO. Now, Facebook and Twitter took the example of Facebook.
The search giant has updated the policy of using its services, adding a clause on the bath of all types of advertising related to cryptocurrency since June of this year. So the company was forced to do an increase in the number of fraudulent schemes, the main element of which were advertisements telling about cryptocurrencies. As for Twitter, the microblogging service is also going to start blocking ads related to cryptocurrencies and cryptocurrency projects.
That's all for now. Not much, but in fact, we are trying to collect only the most important news from the FINTECH market, because everything that happened sooner or later will have an impact on you and me. Subtle changes are gradually turning into a qualitative leap in financial technology, which naturally changes the whole world. And our digest helps to keep track of these changes.
So, this week Visa was noted with one of their projects. According to the company, Moscow is a metropolis where the population still prefers cash as settlements. The study of the distribution of non-cash payment technologies and transactions was conducted by Visa in the framework of the project “Cities without cash”. The project is large-scale, its participants investigated the payments of the population in 100 cities of 80 countries of the world.
')
So, it turned out that Moscow is not at the peak of technological development. It belongs to the category of cities that are in the process of transition to digital technologies, together with Istanbul, Bucharest, Kiev and Minsk. The best of all with paperless calculations is the case in Copenhagen, London, Toronto, Sydney, Hong Kong. But there are cities where non-cash is not used as actively as in Moscow. This is Mexico City, Cairo, Jakarta, Casablanca, Buenos Aires.
Experts who conducted the study believe that if Moscow increases the level of bank transfer, the overall economic effect will be $ 8.5 billion. Naturally, plus and not minus.
And Visa does not like cryptocurrency. More precisely, the financial director of Visa payment giant Vasant Prabhu spoke out against her. He said that due to its anonymity, cryptovalts are popular among corrupt officials and other categories of criminals. Prabhu also believes that the cryptocurrency world is now enclosed in a “bubble” that will burst sooner or later.
Paypal
PayPal - we somehow missed in the past issues the information that the company is developing its own cryptocurrency payment system. The main goal is to increase the speed of transactions. The technology is patented, information is available on the website of the United States Patent and Trademark Office. Developers are creating a new system in order to reduce the time it takes to confirm transactions and the appearance of a new unit on the network.
But at the same time, some PayPal users literally yesterday received letters from the administration warning that activities involving the transfer or trading of cryptocurrency are prohibited by the policy of using the service and should be immediately terminated. So far, the company's press service has not commented on the letters, but they clearly indicated that trading in cryptocurrencies or carrying out any other transactions with it, involving PayPal, is contrary to the Acceptable Use Policy.
And, by the way, Dan Shulman, the company's general director, said at the beginning of the year that Bitcoin is an unsuitable tool for transferring value. That is, bitcoin is difficult to use as a usual currency for sellers and buyers, since its volatility is very high.
Amazon
Amazon is currently negotiating with the world's largest banks, including JPMorgan Chase & Co. Information about the essence of the project is not so much, but it can be understood that the company plans to create a customer service that is similar in functionality to a bank account that a retailer could offer customers for transferring funds. Perhaps this is just a concept that will not develop, but it may well be that Amazon will actually create a hybrid bank account for customers, which will help the company reduce the commission that the IT giant pays to financial intermediaries and get information about the costs of the system participants. A company can afford to do something new, since its capitalization exceeds $ 700 billion.
And a little bit about cryptocurrencies
Well, in the world of cryptocurrency a lot of things happened. Now market capitalization is falling on a wave of negative news. Some of them consist in the fact that large companies, for example, Facebook, prohibit advertising on their sites both cryptocurrency and ICO. Now, Facebook and Twitter took the example of Facebook.
The search giant has updated the policy of using its services, adding a clause on the bath of all types of advertising related to cryptocurrency since June of this year. So the company was forced to do an increase in the number of fraudulent schemes, the main element of which were advertisements telling about cryptocurrencies. As for Twitter, the microblogging service is also going to start blocking ads related to cryptocurrencies and cryptocurrency projects.
That's all for now. Not much, but in fact, we are trying to collect only the most important news from the FINTECH market, because everything that happened sooner or later will have an impact on you and me. Subtle changes are gradually turning into a qualitative leap in financial technology, which naturally changes the whole world. And our digest helps to keep track of these changes.
Source: https://habr.com/ru/post/351598/
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