Why India’s Hike Messaging App Adding Payment Services Matters

Hike messenger, a popular phone messaging service app in India, has recently decided to introduce payment services on its platform.

The payment service includes both peer to peer payments that do not require bank accounts and use in-app wallets, and bank to bank payments using the UPI platform introduced by the National Payments Corporation of India (NPCI). In doing this, Hike has emulated the services provided by WeChat, a Chinese messaging app owned by Tencent. The latter is also an investor in Hike. Such payments cater to both ad hoc requirements between app users, and special occasions such as birthdays or anniversaries on which people often send cash if they are not able to give a present.

See the full article here.

Jumio Partners With Monzo For Customer Verification

Jumio has announced the partnership with digital bank Monzo, to verify new users and support know-your-customer (KYC) requirements.

Monzo will use Jumio’s Netverify to help verify customers who are moving from its prepaid card service to a full current account. This will enable the bank to comply with KYC requirements while removing the manual verifications from Monzo employees.

Jumio’s solution will also be used to verify existing prepaid card consumers and new people signing up for Monzo’s current accounts.

Jumio is an identity verification and credentials company that helps businesses reduce fraud. The company utilises proprietary computer vision technology to reduce customer sign-up and checkout friction.

Scaling Ethereum to Billions of Users

Data

Fred Ehrsam published a great article today on the likelihood of scaling Ethereum out to billions of users (well, transactional computations) that is well worth a read.

It’s one of the challenges that I have been contemplating for a long time. I’m not sure that Fred has all of the answers but his theory is definitely on the right path. It’s a great article to read.

See the full article here.

Western Union Updates Online Payments Platform for International Students

The Western Union Company has updated the WU GlobalPay for students platform, which enables academic institutions to manage payments from international students.

Western Union made the announcement at Money 2020 Europe in Copenhagen where three of its leading executives are speaking this week on WU’s role in fintech movement and innovation in the international payments digital world.

The platform was developed with the involvement of international students who gave insight for improving the overall payer experience. The mobile-first user interface offers real-time payment tracking for online bank transfers and credit card payments.

Furthermore, the solution supports different online payment options in over 30 countries, including Geoswift (Unionpay, Tenpay & AliPay), POLIpayments, India Net Banking, Trustly and SOFORT.