Today In Payments: NYC Taxi Commission Accused Of Fraud; Apple Considers Letting Users Change Default Apps

Today in Payments

In today’s top payments news, the New York attorney general accused the Taxi and Limousine Commission of drastically inflating the price of taxi medallions, and Apple is debating letting users change their default apps. Also, Samsung production in Vietnam could stall due to the coronavirus.

NYC Taxi Commission Accused Of $810 Million Fraud

New York Attorney General Letitia James announced plans on Feb. 20 to sue New York City for allegedly fraudulent practices by its Taxi and Limousine Commission. James accused the agency of drastically inflating the price of taxi medallions over a 14-year period.

Apple Considers Letting Users Change Default Apps

In response to rising criticism, Apple is debating allowing users to change their default settings to third-party apps. The tech company is also considering opening its HomePod speaker to third-party music streaming.

Samsung Production Backlogged In Vietnam Due To Coronavirus

The coronavirus epidemic’s impact on Vietnam’s supply chain could stall production of the latest Samsung smartphones. Samsung is Vietnam’s biggest foreign investor.

TCH, FIs Take Stakes In Fidelity’s Consumer Data Biz

Fidelity Investments’ parent company, FMR LLC, is launching an independent personal data startup called Akoya to serve as a bridge between financial institutions and data recipients. FMR LLC is launching the app in conjunction with The Clearing House (TCH) and 11 of its member banks.

China’s Regulatory Realities And Their Global Open Banking Implications

In the latest Merchants Guide To Navigating Global Payment Regulations, PYMNTS interviews three experts on Chinese eCommerce, data and finance to examine how the misinterpretation of Chinese online data and security regulations can impact global merchants’ expansion ambitions.

NCR: How FIs Can Triumph Over the Challenger Bank Challenge

Is the age of disruption here for financial institutions? Maybe not. As Doug Brown, senior vice president and general manager of NCR, tells Karen Webster, FIs can weather the storm of digital upstarts by leveraging customer loyalty, trust and their big competitive advantage: the sanctity of the bank account.

The Life, Death And Rebirth Of The Daily Deal

A decade ago daily deal sites like Groupon and LivingSocial were forecast to be the future of eCommerce. These days, Groupon is apologizing to investors for its massive earnings whiff, closing down its physical goods operations and getting back to basics. Does Daily Deals 2.0 have a future?