News 

EU’s Vestager says Apple Pay has prompted many concerns

“In an interview with Reuters last year, Vestager said she might investigate Apple Pay if there were formal complaints” writes Min Read for reuters.com. LISBON (Reuters) – Apple Pay has attracted regulatory scrutiny as a result of several expressions of concern about the U.S. tech giant’s mobile payment service, Europe’s antitrust chief said on Thursday.At least one party has gone to the European Commission with its grievance, two people familiar with the matter told Reuters. Source: reuters.com

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How to cancel a Venmo payment if you paid an inactive account, or send a request if you paid the wrong person

“Venmo suggests adding a note explaining how or why you accidentally sent a payment to the wrong person. 7” writes Marissa Perino for businessinsider.com. Type the username of the person who you accidentally sent the payment to. 4.If you sent the money via phone number, the person will have received a text message from Venmo prompting them to create an account. Source: businessinsider.com

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Square tops $28 billion in payment volume as contribution from larger sellers grows

“Gross payment volume increased to $28.2 billion from $22.5 billion and came just above the FactSet consensus, which called for $27.9 billion” writes Emily Bary for marketwatch.com. Square disclosed that 55% of volume came from sellers doing more than $125,000 in annualized gross payment volume.Square said that total net revenue for its Cash App was $307 million in the quarter, while gross profit for the app was $123 million. Source: marketwatch.com

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Refinancing my mortgage lowered my monthly payment by $200, but I wish I’d known 5 things beforehand

“We ended up with a house payment of $1,767, which increased to $1,790 when our property taxes went up this year” writes Ashley Abramson for businessinsider.com. There was a lot of paperwork involved, but refinancing for a lower rate was worth the savings — our interest rate is now 3.375%.Luckily, our persistence in lowering our debt-to-income ratio paid off, literally: We just closed on our new, refinanced mortgage, and our house payment will soon be around $1,550.This may seem obvious, but when we bought the house in 2017 I assumed…

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New Android bug allowed hackers to plant malware through NFC beaming

“On most of the newly-sold Android devices, NFC is enabled by default” reports firstpost.com. NFC beaming aka Android Beam in Android, allows Android devices to send data like videos, images, files, and apps to a nearby device using Near-Field Communication radio waves, an alternative to Bluetooth or WiFi.A bug that was found to have impacted all Android 8 Oreo and later devices allowed hackers to spread malware to nearby phones using NFC beaming.This will continue to allow you to use your device for contactless payment but will block NFC file beaming.However, as…

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Crypto News 

Not a Fee, But ‘Long-Term Payment’ — How Crypto Exchanges List Tokens

“Here, numerous reports show that crypto exchanges are being decidedly opaque about the structure of their listing fees” writes Osato Avan-nomayo for cointelegraph.com. The opaque nature of the listing process on crypto exchanges also arguably contributes to the air of controversy surrounding the issue.The cryptocurrency trading giant, however, denied reports that the payment constituted a listing fee.The tweet also brought up the fake trading volume — an issue that is not unrelated to discussions surrounding cryptocurrency exchange listing fees.Even when there isn’t any listing fee, projects typically have to put…

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Tim Cook hints at a potential future plan to sell iPhones as a subscription service

“On Apple’s earnings call Wednesday, CEO Tim Cook hinted at a potential iPhone subscription service in the future, something investors have been talking about for years” writes Mary Meisenzahl for businessinsider.com. Analyst Toni Sacconaghi asked if there was a possibility that the company might bundle hardware into a subscription in the future. Source: businessinsider.com

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Crypto News 

Morning Brief 10.30.19: Tencent will write blockchain invoice standards

“IBM and central bank think tank OMFIF predict a central bank somewhere in the world will produce a consumer-usable digital currency within the next five years” writes John Adams Is for paymentssource.com. Numerous central banks are considering or developing digital currencies, often in response to perceived rivalry from cryptocurrencies.IBM and OMFIF say the initial central bank currency will debut in a small economy and will be geared toward a specific policy or use case.The central bank currency will also likely include partnerships with private firms.While China has taken a hard…

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Here’s what happens if you only pay the minimum on your credit card

“According to the Credit CARD Act of 2009, card issuers are legally required to include a “minimum payment warning” on each billing statement” writes Alexandria White for cnbc.com. Another option is to open a credit card offering an intro 0% APR on new purchases or a balance transfer credit card offering no interest for up to 21 months.When your receive your credit card bill, there are typically three amounts you can pay: the minimum due, the statement balance and the current balance.It can be tempting to just pay that small…

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