Payments News Roundup: Friday, October 27, 2017

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Google and Amazon and Uber, oh my! There have been a lot of new developments in business, tech, and payments this week, and Payline has all the details for you. Check out our latest Payments News Roundup for all the insight on who’s doing what.

Google Wants to Manage your Credit Cards and Make Online Payments Easier
CNBC | Mon Oct 23, 2017 Google is largely the go-to for everyone’s informational searches, and now they want to be the go-to for easy online payments. Google’s program, Pay with Google, is looking to make online payments easier for consumers with one-time payment information storage on certain sites.

Pay with Google collects all information from credit and debit card numbers to shipping addresses, which eliminates the need for repetitive information entering. This step towards more efficient online payments will benefit many, particularly through food delivery apps like Postmates, Yelp’s Eat24, and DoorDash. Other companies will be soon to follow in Google’s footsteps.

Amazon Will Soon Let You Order From Restaurants Using the Amazon App on Your Phone
CNBC | Mon Oct 23, 2017 Let them eat takeout. E-commerce king Amazon is continuing their widespread reach of services to consumers by introducing a new way to eat via the Amazon app. Starting in November, consumers in select states will be able to order takeout from certain local restaurants directly through the app. Users will have the ability to browse participating restaurants to place orders and checkout with pre-stored payment information without needing any additional logins or accounts. Amazon will be integrating Clover POS systems to launch this service.

Uber’s New Credit Card: Here Are the Perks Worth Noting
USA Today | Wed Oct 25, 2017 This week at the Money20/20 conference, Uber announced that it is introducing its own Visa credit card into the payments community. This credit card is specifically designed to target and entice Uber’s millions of riders with no annual fee, a generous rewards program and other unique perks.

This card, created through a co-branding partnership with Barclays, will be embedded in the Uber app and added to an Uber customers wallet upon credit approval. The rewards program provides a generous array of perks, such as 4% cash back on dining and mobile phone insurance coverage. This card, while not the right card for every Uber user, will be particularly beneficial to those who eat out, travel or use ride-sharing frequently. The card will be available beginning November 2. Goes For Largest Digital Coin Offering Ever At $500 Million
CNBC | Wed Oct 25, 2017 On Tuesday, CEO Patrick Byrne announced that tZero, the company’s majority-owned subsidiary, is planning a token sale later this year. The plan is to raise up to $500 million in ICO sale, or initial coin offering. ICOs are sales of new digital coins for blockchain tech-based projects that are using digital currencies like bitcoin and ethereum. Overstock’s goal of $500 million ICO could be the largest initial coin offering to date if successful, surpassing the current largest token sale of $262 million ICO done by Filecoin.

Why Cryptojacking Is the Next Big Cybersecurity Threat
Fortune | Mon Oct 23, 2017 Cybercrime is a major concern for both businesses and consumers, and the latest hacking trend is no less concerning than others. Cryptojacking is a way to make digital money by way of secretly mining cryptocurrency on infected websites via computers and mobile devices. CBS’s Showtime reportedly ran crypto miner tech on viewers’ PCs this year, but it was removed after security researchers called it out in September. There is no way to notice that a site has been affected by the mining, and hackers are able to make money unbeknownst to site proprietors off of the affected website’s traffic. This is not a new security trend, but it is making a new comeback.

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