Ant Financial partners with First Data and Verifone as part of its global expansion

As hundreds of newly minted Chinese millionaires and billionaires continue their global shopping spree, Ant Finacial Services is expanding its reach to make sure they can buy whatever they want, wherever they want, and however they want. On the stage of today’s Money 2020 conference in Las Vegas, the company announced a slew of partnerships…

via Ant Financial partners with First Data and Verifone as part of its global expansion — TechCrunch

Chinese Firm Issues Webcam Recall After Massive Cyberattack

(BEIJING)— A Chinese electronics maker has issued a recall for millions of products sold in the U.S. following a devastating cyberattack, but is pushing back against criticism that its devices played a role in the massive disruption. Hangzhou Xiongmai Technology said in a statement that customers failing to change their default passwords resulted in millions…

via Chinese Firm Issues Webcam Recall After Massive Cyberattack — TIME

You’re not alone: Scientists say signals are “probably aliens”

Scientists writing in the Publications of the Astronomical Society of the Pacific have found unusual signals emanating from a group of stars that are “signals probably from extraterrestrial intelligence.” The signals “have exactly the shape of an signal predicted in the previous publication and are therefore in agreement with this [extraterrestrial intelligence]… Read More

via Scientists say signals from certain stars are “probably aliens” — TechCrunch

Targeting the untapped market of wearables for elder care

Today’s 20-something tech wizards might not worry about the challenges of old age — but they should. Seniors represent a huge untapped market for tech companies. While just 13 percent of America’s population is 65 or older today, that slice will jump to 19 percent by 2030. One area that holds particular promise? Wearables. Read…

via Targeting the untapped market of wearables for elder care — TechCrunch

Silicon Valley Bank, Mastercard Welcome Commerce.Innovated Startups

Six commerce startups selected to participate in virtual accelerator

Little Boy Playing with Cell Phone in ClassSilicon Valley Bank and Mastercard have selected six startups to participate in Class 5 of Commerce.Innovated., a virtual accelerator designed to help commerce, payments and fintech startups grow their businesses. The six startups will go through the four-month virtual program that provides resources to help refine and enhance their business ideas through access to operational expertise from Silicon Valley Bank, Mastercard and their respective networks.

The six companies that were selected to participate in the current class come from across the U.S. and are in various stages of funding and development:

  • Domuso, a payment financing platform for renters in Multifamily Communities, Santa Monica
  • Earny, your personal assistant who automatically gets you money back on every purchase you make, Santa Monica
  • Papaya, a mobile bill pay app, Burbank
  • SmartGift, a provider of product e-gifting technology for nextgen commerce, New York
  • Truebill, an automated financial assistant that tracks, manages, and cancels paid subscriptions and recurring bills, San Francisco
  • Qwil, instant pay for independent contractors, San Francisco

Co-founder of Alloy Laura Spiekerman, an alumna from Class 4 of Commerce.Innovated., commented: “Commerce.Innovated. helped us validate our approach to financial institutions and connecting to clients.” Since completing the program, Alloy, which provides identity verification APIs for regulated companies, completed a product launch with its first live customers and started fundraising for its second seed round. “We continue to keep in touch with the Commerce.Innovated. team to leverage the connections, resources and expertise we gained through the program.”

“With the continued innovation in payments, commerce and fintech, we saw some great companies come through the application process,” said Reetika Grewal, head of Silicon Valley Bank’s payments strategy and solutions group. “We’re excited to work with the next batch of companies that are making life easier for both businesses and consumers.  Commerce.Innovated. is operationally-focused and customized based on the goals of each company so we can jointly work toward helping them meet their next milestones. We’re looking forward to collaborating with these incredible entrepreneurs to help them move their businesses forward.”

“Our most recent class highlights the innovative solutions and applications that are being developed by early stage startups in areas such as banking, payments, and retail,” said Stephane Wyper, global lead of startup engagement at Mastercard. “The pace at which innovation is occurring in fintech and commerce underscores the importance of programs like Commerce.Innovated. as a way to collaborate with these new companies and shape the future of commerce together.”

Commerce.Innovated. launched in 2014 and has worked with 19 commerce-focused startups to date, includingAlloy, AppZen, Apruve, CardFlight, Dash, Float, Footmarks, Gone, LaunchKey, Local Maven, Nowsta,PayByGroup, PennyOwl, Slide, SnapUp, Spend Labs, Splitwise, Standard Treasury and one stealth-mode startup. Nine of the 19 graduates have raised funding after the program and four have been acquired

Full program details are available at www.commerceinnovated.com.

U.K. Pound Craters to New Low in ‘Flash Crash’

LONDON (Reuters) – Sterling lost a tenth of its value in minutes on Friday, in what traders said was a “flash crash” driven by computer-initiated sell orders that left the pound at a fresh 31-year-low and heading for its worst week since January 2009. The pound has been under pressure for most of this week…

via U.K. Pound Craters to New Low in ‘Flash Crash’ — TIME

Asia Markets Rattled by Pound’s ‘Flash Crash’ to a Fresh 31-Year-Low

HONG KONG (AP) — Asian stock markets were rattled Friday after the pound briefly and mysteriously plummeted to a fresh 31-year low in early trading amid persistent concerns about Britain’s exit from the European Union. Japan’s benchmark Nikkei 225 index lost 0.2 percent to 16,860.09 and South Korea’s Kospi slipped 0.5 percent to 2,054.54. Hong…

via Asia Markets Rattled by Pound’s ‘Flash Crash’ to a Fresh 31-Year-Low — TIME