Crypto News 

Bitcoin Payment Processor Closes Seed Investment Round Backed by Tim Draper

“Bitcoin (BTC) payment processor OpenNode has completed a seed investment round with investment from American venture capitalist Tim Draper, according to an announcement on Dec. 18” writes Ana Alexandre for cointelegraph.com. Per the announcement, OpenNode has raised funds from Draper and early stage venture capital firm Draper Associates.”If we combine Bitcoin, blockchain with smart contracts and artificial intelligence, we could create the perfect bureaucracy,” he said.Yesterday Cointelegraph also reported about the launch of Tagomi Holdings Inc., an electronic brokerage startup backed by PayPal co-founder Peter Thiel’s venture capital firm Founders…

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Cross-Border Payments Need More Than Bank-FinTech Collaboration

“According to SWIFT and McKinsey & Company research, B2B cross-border payments accounted for $125 trillion in revenues last year alone, significantly higher than the $54 billion initiated by consumer-to-business (C2B) cross-border payments” reports pymnts.com. Even more challenges are ahead for the world’s cross-border payments market, as regulatory pressures continue to cause a decline in the number of correspondent banking relationships.Earlier this year, SWIFT emphasized the success of its ongoing gpi effort, which aims to enable real-time cross-border payments between institutions that have signed on to the initiative.It’s perhaps unsurprising that…

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The sentencing of Michael Cohen has brought a perilous investigation into the president’s 2016 election campaign one step closer to the Oval Office.

“But Trump has been far from silent during the monthslong Cohen saga, with the president’s explanations frequently shifting as his legal exposure grew” writes Jonathan Lemire for aol.com. Trump’s first explanation of the payment that would eventually help lead Cohen to a three-year prison sentence came at 35,000 feet over West Virginia.Politically, Trump’s shifting claims could harm his credibility with voters, but legally they may not make much of a difference.But both Cohen and federal prosecutors said the payments were made at Trump’s direction to fend off damage to his…

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Trump’s explanations shift as legal exposure grows

“But Trump has been far from silent during the monthslong Cohen saga, with the president’s explanations frequently shifting as his legal exposure grew” writes Jonathan Lemire for aol.com. Trump’s first explanation of the payment that would eventually help lead Cohen to a three-year prison sentence came at 35,000 feet over West Virginia.Politically, Trump’s shifting claims could harm his credibility with voters, but legally they may not make much of a difference.But both Cohen and federal prosecutors said the payments were made at Trump’s direction to fend off damage to his…

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Crypto News 

Crypto.com Nets Ex-PayPal Exec to Increase Merchant Cryptocurrency Adoption

“Hong Kong-based cryptocurrency payment platform Crypto.com has hired a former PayPal executive, the company confirmed in a press release Dec. 11” writes William Suberg for cointelegraph.com. Crypto.com, which came into being after cryptocurrency debit card provider Monaco acquired the domain name for a reported $10 million in July, seeks to increase consumer and merchant adoption for point-of-sale (PoS) transactions.Tyson Hackwood will join the crypto firm as its senior vice president and head of global merchant acquisition.Despite the downturn in cryptocurrency prices throughout 2018, the number is tipped to expand beyond…

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Crypto News 

Analysis: The Rise of Point of Sale Cryptocurrency Systems

“For cryptocurrency fanboys, who often resemble vegans in their unceasing ability to make themselves unlikable, cryptocurrency PoS systems will be old news” writes David Kimberley for financemagnates.com. In the space of two weeks, four articles related to cryptocurrency point of sale (PoS) systems cropped up across the industry’s media outlets.With a tanking economy and inflation running at 1,000,000 percent (no that’s not a typo), the country has become a major hub for cryptocurrency payment solutions.During the past month, amidst the usual bombardment of cryptocurrency and blockchain-related stories, something caught this…

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Apple launches payments service in Germany following delay

“FRANKFURT (Reuters) – Apple has launched its mobile payments service in Germany, four years after its start in the United States and trailing Google, which started its payments app in the country in June” writes Midwest Communications Inc for 95kqds.com. Customers at banks such as Deutsche Bank, Commerzbank unit Comdirect, Hypovereinsbank, Wirecard, Hanseatic Bank and of credit card providers Mastercard, Visa and American Express will from Tuesday be able to use Apple’s Boon app, the companies said in separate statements.Retailers such as discounters Aldi and Lidl, supermarket chain Kaufland, drugstores…

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Crypto News 

State Farm Tests Blockchain Solution to Speed Up Auto Insurance Claims

“U.S.-based insurance company State Farm is testing a blockchain-based solution to speed up the subrogation process for auto claims, according to an announcement published Dec. 10” writes Ana Alexandre for cointelegraph.com. State Farm is working on blockchain-based solution to speed up the subrogation processes in the insurance industry.State Farm is reportedly testing a blockchain solution collaboratively with another insurer, to see whether it can reduce the time needed to complete the subrogation process by automatically compiling all subrogation payment amounts.Subrogation is a legal right held by most insurance carriers to…

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EU’s Vestager may investigate Apple Pay if there are formal complaints

“Apple’s mobile payment service Apple Pay, launched in October 2014, is available in 10 EU countries including France, Italy, Spain, Sweden and Denmark” writes Midwest Communications Inc for 95kqds.com. “Obviously if we had official complaints, we would take that seriously because the entire payment market is a very important payment market.”. BRUSSELS (Reuters) – EU regulators looked into Apple’s mobile payment service and found it was not market dominant but they could review it again if they receive formal complaints, Europe’s antitrust chief said on Monday.Separately Vestager is reviewing whether…

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In UK, Late Payments Report Finds Fault With Big Retailers

“Our research shows 22 percent of small businesses surveyed had been involved in a serious dispute in the last five years” reports pymnts.com. Small businesses in Australia are paying more than $130,000 to resolve a dispute through formal pathways,” said Carnell.Separately, it has been reported in Australia that smaller firms in that country have been paying an average of $130,000 to resolve late payment disputes through formal means.Among the names cited in the report, retailers WHSmith has payment terms that have stretched between 90 days to 120 days, and Boots…

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