Top News In Payments: Facebook Acquires AI Chatbot Firm Servicefriend; Apple’s iPhone 11 Receives Quiet Reception In China

Today in the payments news roundup, Facebook has acquired Israel-based hybrid chatbot startup Servicefriend to build customer service bots for its planned Calibra digital wallet. Also, Shanghai and Beijing Apple stores were relatively quiet when the new iPhone 11 hit shelves on Friday (Sept. 20.) And a Pew Research Center study found that Americans don’t trust members of Congress and are more likely to have confidence in the police, journalists and the military.

PEW: Most Americans Distrust Tech Leaders

A Pew Research Center study reported that Americans don’t trust members of Congress and are more likely to have confidence in journalists, military and the police. Researchers have discovered that the public’s trust in different organizations and political leaders hinges on the perception of proficiency as well as honesty.

Facebook Acquires Chatbot Startup For Libra Support

Facebook has acquired Servicefriend to create customer service bots for its planned Calibra digital wallet. Co-founders Shahar Ben Ami and Ido Arad launched the company in 2015 to offer customer service using hybrid artificial intelligence (AI) bots. Facebook’s acquisition of Servicefriend is expected to help the firm roll out its digital currency Libra next year.

Chinese Businesses Will Be Subjected To Social Credit Surveillance

Big Brother will keep an eye on Chinese companies as the government’s social credit system compiles data on the nation’s 1.4 billion people. Individuals, as well as companies with low social credit scores, will not only be publicly named and shamed, but also blacklisted from purchasing airline tickets and getting loans.

Few Turnout For iPhone 11 Debut In China

Beijing and Shanghai and Apple stores were relatively quiet when the new iPhone 11 hit shelves on Friday (Sept. 20). iPhone debuts in the past, however, attracted hundreds of people. The iPhone 11 kickoff in Chinese brick-and-mortar stores trailed a day behind the debut of Huawei’s newest smartphones on Thursday (Sept. 19).

The Real-Time Payments Receivables Conundrum

The bulk of payments flows occur between companies and, increasingly, when those businesses transact cross-border. Many of these transactions involve large buyers and small suppliers. Payments terms — and not the speed of the rails or whether they’re real-time or batch-based — determine how fast payments move between suppliers and buyers.

TRENDING: How Credit Unions Give Digital The Personal Touch

Investments in digital banking are paying dividends for credit unions (CUs) by creating more efficient services and improving membership. Allison Videtti, director of marketing for digital-focused Alliant Credit Union, however, believes it has come at the cost of personal touch. Videtti spoke to PYMNTS about how Alliant emphasizes member outreach by tapping into targeted social media campaigns to regain personalization and stay involved in the lives of members.