Today In Payments: Paris Convicts 6 In $50M Impersonation Plot; Wirecard Partners With Klarna For Payments

Today in Payments

In today’s top payments news, in Paris, six men were convicted of an impersonation plot that garnered $50 million, and Wirecard has partnered with Klarna to integrate digital payment methods into its commerce platform. Also, in a televised address on Wednesday, March 11, President Trump unveiled a number of measures to combat the economic impact of the coronavirus.

Paris Sentences 6 In $50M Impersonation Plot

In Paris, six men were convicted of stealing $50 million by impersonating France’s former defense minister, conning wealthy residents into giving money to help the government with covert operations involving hostages.

Wirecard Partners With Klarna For Payments

German payments company Wirecard is partnering with Sweden’s FinTech startup Klarna to integrate digital payment methods — Pay Now, Pay Later and Klarna Financing — to merchants’ checkout process on Wirecard’s commerce platform.

Trump Unveils Measures To Combat Economic Impact of Virus

President Donald Trump unveiled a number of executive actions designed to address the economic impact of the coronavirus, which continues to spread across the United States. Among the mandates: suspension of all travel from Europe to the United States for the next 30 days beginning Friday.

Companies Shelve IPOs Rather Than Face Volatile Wall Street

With the recent volatility in the market, it comes as no surprise that there has been significant pullback in planned initial public offerings (IPOs) in all industries and verticals. This follows a year that was filled with a slew of canceled IPOs.

The Innovative ‘Green Shoots’ Growing Out Of COVID-19’s Scorched Earth

The coronavirus scare threatens to throw the world into a global recession as workers and consumers stay home. But smart businesses that use online technology can not only survive, but thrive, Ning Wang, co-founder and chief business officer of Chinese payments processor PingPong tells Karen Webster. In fact, he says the pandemic could speed up the adoption of digital platforms, virtual reality and more.

NEW DATA: The Innovations Credit Union Members Need To Stick, Not Switch

In the latest Credit Union Innovation Index, PYMNTS surveys 3,908 U.S. consumers to learn how competition to meet members’ needs is fueling CUs’ drive to develop new payment options, from peer-to-peer (P2P) apps to point-of-sale (POS) credit tools and beyond.

Amazon Nudges Walmart In Latest Whole Paycheck Tracker

The battle for share of wallet between eCommerce giant Amazon and ultra-merchant Walmart rages on, as the latest PYMNTS Whole Paycheck Tracker data shows. Amazon enjoys an early 2020 lead, riding high on its strong fourth quarter earnings report.



The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.