Today In Payments: PBOC Patents Show China’s Push For Digital Money; Fiserv Intros Scan To Pay For Diners With Apple Pay

In today’s top payments news, the People’s Bank of China has filed more than 80 patents as it attempts to adopt a digital currency, and Fiserv introduced Scan to Pay, a new way for diners to pay their checks with Apple Pay. Plus, a new PayPal and FIS partnership allows FIS Premium Payback members to use points at PayPal merchants.

PBOC Patents Show China’s Push For Digital Money

The People’s Bank of China (PBOC) has filed over 80 patents as it attempts to take the renmibi to the digital stage. The patents show that the bank is working on an array of things, including enacting digital eWallets for the currency that can be tied to existing bank accounts.

Fiserv’s Clover Lets Diners Scan To Pay With Apple Pay

Fiserv has introduced a new way to pay at restaurants through its Clover platform, called Scan to Pay. With the program, consumers can pay their bill using Apple Pay by scanning a QR code at the bottom of a receipt.

PayPal And FIS Team On Loyalty Points Redemption

Cardholders of member institutions of the FIS Premium Payback network can now use their reward points to pay for things at PayPal merchants around the world. FIS is the first non-bank payment processor to partner with PayPal’s Pay with Rewards.

T-Mobile And Sprint Merger Puts Spotlight On 5G For Retail

The T-Mobile and Sprint merger is expected to usher in the era of consumer 5G faster than the anticipated year of 2024. For retailers, 5G stands to be an opportunity to get closer to consumers and amp up the in-store experience.

New Report: One Day Too Long: Why Small Businesses Want Rapid Settlement

A new report finds that nearly 50 percent of online-oriented firms say they are negatively impacted when access to digital payments goes beyond a day. In the latest edition of The Small Business Guide To Rapid Settlement Playbook series, PYMNTS reveals who’s most at risk and what many are doing to address these cash flow challenges.

NCR: How Platforms Enable Banks To Be ‘Digital-First’ Fast

The rise of mobile banking is spurring financial institutions to reexamine their “digital-first” efforts — especially as they eye tech-nimble challengers out to woo their next-gen customers. Doug Brown, senior vice president and general manager at NCR, tells Karen Webster how smaller FIs are using digital first, but not digital only, to bring context and personalization to consumers.

Equifax Sees 33 Pct Growth In Verification Services Revenues

Equifax reported earnings results that showed growth in key mortgage and verification segments even as it reserved for costs related to its massive 2017 data breach.


New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.