Five At Five: Alibaba Makes Cross-Border Payments Play

Welcome to Five at Five, your late look at the day’s payments and commerce news. Today’s coverage includes the latest payments/FinTech news from Alibaba, along with developments in a big payday lending scam. A new holiday fraud warning is out, Amazon goes upscale in NYC and India readies for biometrics.

Alibaba Signs Up With Banking Circle for Cross-Border Payments

Domiciled in the European Union, Banking Circle specializes in providing global payment account transactions and foreign exchange services to financial institutions, including FinTechs, banks, acquirers, payment service providers, FX brokers, money transfer businesses, eWallets and alternative payment providers.

FTC, DOJ Mailing 1.2M Refund Checks to Consumers Hurt by Payday Lending Scam

The Federal Trade Commission, working in conjunction with the U.S. Department of Justice, announced on Thursday (Sept. 27) that it is mailing 1,179,803 refund checks totaling more than $505 million to people who were deceived by a payday lending scheme operated by AMG Services, Inc. and Scott A. Tucker.

Look-alike Domains Emerge As Bigger Holiday Fraud Threat

To drive home the danger and scope of the problem, Venafi said that one top 20 U.S. retailer has more than “12,000 look-alike domains targeting their customers.” In Germany, meanwhile, there exist “four times more look-alike domains than valid domains” when measured by the top 20 online retailers in that country.

Amazon to Sell Only Its Best Items in New NYC Store

Every product is rated four stars and above, is a top seller or is new and trending on Amazon’s website. The store is located in New York City’s SoHo neighborhood, on Spring Street between Crosby and Lafayette Streets.

India’s Supreme Court Sustains Biometric ID System

Aadhaar has provided biometric identity verification for more than a billion people, but critics have warned that it could lead to a surveillance state, as well as enable companies to profile clients.


Latest Insights: 

With an estimated 64 million connected cars on the road by year’s end, QSRs are scrambling to win consumer drive-time dollars via in-dash ordering capabilities, while automakers like Tesla are developing new retail-centric charging stations. The PYMNTS Commerce Connected Playbook explores how the connected car is putting $230 billion worth of connected car spend into overdrive.


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