Ant Financial Services Group, China’s largest online-payments company, has announced an $880 million deal to acquire Dallas-based money-transfer provider MoneyGram International. Ant Financial split off from Alibaba Group Holding Ltd. in 2011 and is controlled by Alibaba founder Jack Ma. “With the deal, Ant Financial would gain a large footprint and a brand name in the U.S. and expand its global money-transfer business, ultimately bringing it into closer competition with PayPal” and others, reports The Wall Street Journal. However, the deal could be scrutinized by the new presidential administration as global competition is being called into question, despite Donald Trump’s recent discussions with Ma to help create jobs. Continue reading Chinese Company Looks to Buy U.S. Money-Transfer Provider

Amazon Web Services just unveiled AWS Shield, a service to protect its customers against distributed denial-of-service attacks, which push websites offline by overwhelming them with junk data. Last month, such cyberattacks made numerous popular websites unavailable. Amazon is offering two levels of service, Standard and Advanced, both of which are available now. The Standard option is a default service to AWS customers at no extra charge, and the Advanced service costs $3,000 per month plus data-related charges. Continue reading AWS Shield Aims to Protect Against Denial-of-Service Attacks

Out of Messenger’s one billion users, 300 million people are now using its audio and video calling features every month. This represents tremendous growth from Facebook’s first trials with VoIP audio for Messenger in 2013, and video calling in mid-2015. More recently, Facebook launched Instant Video for live connections in Messenger and group audio calling, with hints on plans to introduce group video calling. The idea is that multimedia options will always be part of the ongoing conversation. Continue reading Facebook Messenger Unveils Native Bot Payments, Webview

J.P. Morgan Chase, Wells Fargo and other banks just introduced real-time person-to-person payments — something PayPal’s Venmo has done for years — to their five year-old joint effort clearXchange. Previously, clearXchange could take up to three days to transfer money. PayPal upped its game, by signing a deal with Visa to let Venmo and PayPal app users instantly access monies they receive. PayPal and the banks collect no fees on these transactions, which they regard as a gateway to other, paid services. Continue reading Banks Make Move to Real-Time Person-to-Person Payments

Facebook Messenger currently has more than 900 million regular monthly users, more than quadruple the 200 million it touted in early 2014. To grow in international markets, Facebook is testing a new feature inside Messenger that will encrypt some messages, creating “secret conversations” between the users of the two mobile devices. Users must opt-in to a secret conversation. Although this isn’t the full encryption found in WhatsApp, the new feature offers more security than before, which Facebook hopes will appeal to global users. Continue reading Facebook Messenger Will Soon Enable ‘Secret Conversations’

According to an SEC filing, PayPal-owned peer-to-peer payment service Venmo is under investigation by the Federal Trade Commission to determine whether the company “engaged in deceptive or unfair practices in violation of the Federal Trade Commission Act.” PayPal received a Civil Investigative Demand (CID) from the FTC on March 28. “The CID could lead to an enforcement action and/or one or more consent orders,” explains PayPal, “which may result in substantial costs, including legal fees, fines, penalties, and remediation expenses and actions, and could require us to change aspects of the manner in which we operate Venmo.” Continue reading Popular Payment Service Venmo Under Federal Investigation

Since Amazon relaunched its online Payments business in 2013, more than 23 million customers have used their Amazon accounts to pay for purchases on other businesses’ websites. That’s a trade-off that Amazon is more than willing to make. Among those companies now accepting Amazon Payments are Southwest Airlines, Comcast’s GolfNow online tee-time booking site and online store Red Dress Boutique, which reports that within a week of adding Amazon Payments, 20 percent of its orders used it, surpassing PayPal. Continue reading Amazon Payments is Gaining Traction with Smaller Retailers

Now reaching nearly one billion users, WhatsApp, the mobile messaging startup Facebook purchased for about $19 billion in February 2014, is looking at ways to make money. Until now, it’s been free for a year, and $1 per year thereafter, making it very popular for users outside the United States. In the process it’s become a social network and a way for businesses to communicate with the world. Now, chief executive Jan Koum dropped that $1 fee and has begun to experiment with how to create revenue. Continue reading WhatsApp Nears One Billion Users, Explores New Applications

Apple is in talks with banks to develop a new payment service to allow an iPhone user to send money to another iPhone user, most likely bypassing Visa and MasterCard by working directly with banks. The talks are at an early stage and no one involved would comment on the evolution of the plan. But multiple sources confirm Apple’s talks with the country’s largest banks and that the company is serious about moving forward. Unknown is whether credit card companies are engaging Apple or waiting for the company to contact them. Continue reading Apple in Talks with Banks About New Money-Transfer System

Google now offers Android Pay, a mobile phone payment service similar to Apple Pay. Android Pay works with Visa, American Express, Discover and MasterCard and can be used at more than one million retail locations in the U.S. Android Pay requires a phone that runs Android 4.4 KitKat or newer and has a Near Field Communication (NFC) chip, a feature of most Android phones in the last three years. Android Pay, available in the Google Play app store, will come preloaded in new Android phones. Continue reading Google Unveils Android Pay, Improvement Over Google Wallet

Facebook just launched its new personal assistant, M, to a few hundred San Francisco Bay Area users. Unlike Apple’s Siri or Microsoft’s Cortana, however, M is not just powered by artificial intelligence. M does all the same things that Siri and Cortana do, but it adds a team of experienced customer service reps to accomplish more “human” tasks such as calling the cable company and enduring automated messages and holds. Facebook is disadvantaged on mobile devices, but the company hopes its efficiency will spur usage. Continue reading Facebook Personal Assistant Integrates AI with Human Touch

When Facebook launched ThreatExchange in February, the idea was to create a platform where companies could share information on potential cyberattacks, malware and other malicious hazards. Now, the Silicon Valley company says that the number of companies on the platform has reached 90, after 23 joined last week when the application process became easier. Facebook, which isn’t alone in offering a platform for centralized cyberthreats, is continuing its work to integrate these other information-sharing platforms. Continue reading Companies Share Cyberthreat Info on New Facebook Platform

San Francisco-based social bookmarking site Pinterest announced yesterday that it plans to introduce e-commerce to its platform with “Buyable Pins,” which could go a long way to justify the company’s $11 billion valuation. Pinterest, popular with users for discovering and sharing real world things through a digital scrapbook approach featuring “pinned” items, will allow interested sellers to add “buy” buttons to items they post. The product’s early retail partners include Cole Haan, Ethan Allen, Macy’s, Kate Spade and others. Continue reading Pinterest Adds E-Commerce to Discovery with New Buy Button

Another Amazon Prime competitor has entered the mix. San Jose-based eBay is experimenting with a program that offers its customers free, fast shipping and returns for about $20 per year. The e-commerce company does not control shipping, so it has to work with sellers that agree to send items the same day they are ordered. In return, eBay gives those sellers discounts on selling fees and subsidies to help with the cost of shipping. The shipping program, eBay+, is only available in Germany for now. Continue reading E-Commerce Giant eBay Starts Shipping Program in Germany

Facebook is adding a new feature that allows its users to send each other money through Facebook messages. Users link their debit cards in order to send their friends money. Unlike PayPal or Venmo, users do not have to “cash out” the funds. The payments transfer directly between debit cards. The new service, which is free to Facebook Messenger users, will roll out in the U.S. in the next few months. It will show up in the Messenger app as a dollar sign, next to the icons for text, photos and thumbs up. Continue reading Facebook Unveils Peer-to-Peer Payments on Messenger App