Why IoT Apps are Eating Device Interfaces owen thomas What it Takes to Build a Highly Secure FinTech … After weeks of rumors that a deal might come together, PayPal has announced it’s buying Braintree, a Chicago-based payments startup, for $800 million.PayPal, a unit of eBay, is already a large player in payments. It is dominant in Web-based e-commerce, and has big ambitions to process payments in retail stores as well. But a big gap was emerging in its lineup: the growing field of processing payments within mobile apps.The Mobile ShiftWhile PayPal had honed its offering for e-commerce over the years, the system of bouncing shoppers to another screen to enter their PayPal login credentials in order to check out proved too cumbersome for people spending money on smartphones.When ReadWrite met with PayPal CEO David Marcus recently, Marcus cited his team’s desire to create “frictionless” experiences. But some of those best examples of friction-free commerce—for example, the way you can store your credit card with on-demand transportation service Uber’s app once, and then have rides billed automatically, without having to reenter your card or log into an online wallet, weren’t coming from PayPal.Braintree, it turns out, is the processor of payments for Uber. Airbnb, the lodging marketplace, is a customer as well. And PayPal risked losing those app developers as customers.Braintree’s Grand PlanIt’s a no-brainer that having to enter and reenter your credit card on a mobile device is a pain, and anything that avoids that will encourage users to sign up for an app that charges money. That’s a service both Braintree and PayPal wanted to offer.After acquiring Venmo, a much smaller New York-based payments startup, Braintree began betting heavily on a product called Venmo Touch. Venmo Touch promised to let a user enter a credit card into one app and then remember the number in other apps—assuming all the app developers involved used Braintree on the back end and incorporated the necessary software into their apps.But those were all big ifs, which are now made less problematic by PayPal and Braintree becoming one entity. If PayPal’s own app (which it recently rebuilt) is included in the budding Venmo network of apps, it will instantly have 140 million consumers with credit cards entered—a big reason for app developers to get on board.Another wild card was Facebook. The social network is testing a new product called Autofill, which similarly promises to carry users’ credit-card number from app to app. PayPal and Braintree are both partners—though tellingly, Braintree had a product ready to go, while PayPal was still in preliminary talks with Facebook at the point Autofill began tests. (A Braintree rival, Stripe, is also involved in the test.)Braintree, however, was much smaller than PayPal. Braintree CEO Bill Ready recently told ReadWrite that the company is doing $12 billion in annual payments volume, $4 billion of which was on mobile. Contrast that to PayPal, which reported doing $43 billion in its most recent quarter—or almost 15 times the size of Braintree’s budding business.Moving FasterPayPal was building similar tools for developers, but says buying Braintree will help accelerate its efforts, and will keep it as a standalone unit, with Ready running it. (Before joining Braintree in 2011 as CEO, Ready had started and sold two payments companies.)“We wanted to go startup fast,” John Lunn, global director of the PayPal Developer Network, told ReadWrite. “Braintree is going to be the platform for developers. We’re not going to change anything… we’re going to use this new Braintree platform as the new outward-facing platform for developers.”He mentioned that PayPal had “big-company problems” with serving developers. Instead of making app developers go through the same customer-service center that a consumer might use to report fraud on an e-commerce transaction, they’ll have a dedicated customer-service team operated by the Braintree unit, Lunn says.And for developers confused about what service to use going forward, Lunn says, “If you want to bet on the future platform, bet on Braintree.”Battling Regulators TogetherA combined PayPal-Braintree could help developers with one big issue: lowering credit-card processing costs. PayPal is already licensed in many parts of the world to move money around—in Europe, it even operates as a bank. One big issue for mobile-app payments is that when an app like Uber stores a credit card, the transaction is classified as “card not present,” a category that Visa and MasterCard deem as higher-risk and thus higher-cost. That’s silly, since the consumer in that case is riding in the same vehicle as the driver, with that location verifiable through his or her smartphone.That’s far better proof of identity than, say, when someone swipes a plastic credit card at a gas station.In recent conversations with ReadWrite, both PayPal’s Marcus and Braintree’s Ready acknowledged card-not-present was an issue they were working on with the big banks and credit-card networks. Together, they should be better situated to push to modernize the payment system.Photo by David Marcus Role of Mobile App Analytics In-App Engagement Tags:#Braintree#Mobile Payments#online payments#PayPal#Venmo#Venmo Touch The Rise and Rise of Mobile Payment Technology Related Posts
TagsTransfersAbout the authorFreddie TaylorShare the loveHave your say Liverpool fullback Moreno: I’ve got contract offer. We’ll seeby Freddie Taylor2018-12-27 22:41:29.000000Send to a friendShare the loveAlberto Moreno has revealed he has received a contract offer from Liverpool.The Spaniard has struggled for playing time since the emergence of Andy Robertson and will be out of contract in the summer. He will be free to talk to foreign clubs in January.And speaking to El Transistor, Moreno admits he could leave Anfield despite the new contract offer.He said: “Liverpool has proposed renewing me but no agreement has been reached, in January the market opens and we will see.”To this day we have nothing closed neither with Liverpool nor with other clubs.”
REGINA – The Saskatchewan government says it has applied for intervener status in National Energy Board hearings on the Trans Mountain pipeline project.Justice Minister Don Morgan says the province argues the interprovincial pipeline has already been approved and shouldn’t be held up by a municipality.The city of Burnaby, B.C., hasn’t issued necessary permits to allow Kinder Morgan Canada Ltd. (TSX:KML) to expand its pipeline from the Edmonton area to a tank farm and port in Burnaby.Morgan says Saskatchewan is disappointed the city is deliberately slowing down an important project for an industry that is just starting to recover from sluggish oil prices.He says Saskatchewan energy companies need to get their product to the coast and all Canadians — including Burnaby residents — benefit from a thriving energy sector.Kinder Morgan wants the National Energy Board to clear the way for work on the Burnaby portion of the pipeline expansion.It already has energy board and federal approvals, but the company says delays in permits and regulatory approvals mean the project could be almost nine months behind schedule.“Saskatchewan has consistently taken the position that once an interprovincial pipeline has been approved by the federal government, provinces and municipalities should not be able to interfere,” Morgan said in a statement Friday. “Our government will continue to advocate for an expansion of pipeline capacity across Canada.”
OTTAWA – The Trudeau government tabled a budget Tuesday that will use billions of dollars worth of fresh fiscal runway for new investments, a decision that leaves Ottawa with no timetable for balanced books anywhere on its horizon.Finance Minister Bill Morneau’s budget will channel the extra dollars into new spending that he’s banking on to lift Canada’s long-term growth.In releasing his third fiscal plan, Morneau sought to reassure Canadians the new commitments would be carried out in a responsible way, while arguing his earlier investments had already produced encouraging economic results.“The economy is doing well — remarkably well,” Morneau said in prepared remarks of his budget speech.“With a strong and growing economy in place, we believe that now is the right time to focus on the deeper challenges that hold our economy — and our people — back.”Compared to the fall, the government says it has $19.8 billion in additional cash to play with over the next six years — an average of $3.3 billion a year in extra fiscal elbow room.That money was generated by a number of sources, including the stronger economy, revenues from tax changes for private corporations, lower-than-expected departmental spending and nearly $5 billion in re-profiled infrastructure commitments over the next two years alone.But due to the new investments, the government will continue posting annual deficits at roughly the same pace.Morneau’s plan to raise long-term growth is counting on waves of new measures designed to advance fundamental science, nurture the innovative economy and topple many of the barriers preventing women from fully participating in the workforce.Indeed, one of the predominant themes of the budget is to bring more women into the workforce, which many say will bring big economic benefits.But it remains to be seen whether the additional investments will be enough to give future generations the economic boost the Liberals have promised.Some say Ottawa has spent too much, because the government may have to eventually address another economic downturn or potential fallout from the trade and competitiveness uncertainty connected to the United States.Others argue Morneau should be spending far more if he truly wants to increase growth. For example, some said the budget’s lack of a comprehensive child-care plan means Ottawa hasn’t gone far enough to ensure the economy reaps the benefits of higher female participation in the workforce.The government is projecting deficits roughly in line with its October projections. The new outlook now shows an $18.1-billion shortfall for 2018-19 that’s expected to gradually shrink to $12.3 billion in 2022-23, including annual $3-billion cushions to offset risks.During the 2015 campaign, the Liberals had pledged to keep annual deficits at no more than $10 billion and to balance the books by 2019.On Tuesday, Morneau reiterated that he’s instead focused on another fiscal “anchor” of lowering the net debt-to-GDP ratio — a measure of Ottawa’s debt burden — each year. The budget predicts the ratio to decline each year over the outlook.The lack of target date for a balanced budget drew swift criticism Tuesday — from some economists and from the opposition Conservatives. There are concerns over Ottawa’s deficit plan at a time of economic expansion and warnings it could find itself far deeper down the deficit hole in the event of a recession.Other major worries are linked to the unknowns surrounding the outcome of the NAFTA renegotiation and the potentially greater fallout from the U.S. plan to slash corporate tax changes.Many have urged Morneau to respond by cutting business taxes in Canada — but he has refused to act until the U.S. government irons out the details of its tax overhaul. The budget acknowledged the uncertainty and said more analysis was necessary.The government will do its homework on the U.S. tax plan before taking any steps to address it, Morneau told a news conference before the budget was introduced.“It’s not news to me that business is asking for lower tax rates — I was in business, that’s a pretty common refrain,” Morneau said.Dennis Darby, president and CEO of the Canadian Manufacturers & Exporters, said the budget was a “missed opportunity” because it lacked reforms needed to improve competitiveness and encourage investment. He added that changes were missing long before the U.S. tax changes emerged and they’ve only exacerbated the situation.Jean-Francois Perrault, chief economist for Scotiabank, said the government’s plans to focus new spending in the budget on important, long-term goals to address inequality also raise the question of whether it still has room to navigate rough economic waters in the future.“If you do things that reduce inequality, depending on how you do them, there is a growth payoff,” Perrault said.For example, he said the budget introduces lots of smaller steps towards raising workforce participation among women — but it lacks a broader child-care plan. For Perrault, child care is the single most important measure that encourages women to enter the workforce.The Liberals provided money in last year’s budget for child care, but many called it insufficient.Economist Armine Yalnizyan agreed that the budget lacks the “secret sauce” of child care.She said in other jurisdictions government-subsidized child care has proven it pays for itself by enabling more women to enter the workforce, thus raising revenues.Yalnizyan also argues that in its effort to keep the debt-to-GDP on a downward track, the Liberals are actually spending less over the outlook when the promised investments are compared to revenues. To explain it, she noted how the government moved forward nearly $5 billion in past infrastructure commitments to the next two years.She said as long as there’s no unexpected downturn, the government appears to keeping its fiscal powder dry this year, so it can put more into the 2019 budget — which will be tabled months before the next election.“But that does not square with their focus on saying we need to plan for the long-run growth of the economy,” Yalnizyan said.Follow @AndyBlatchford on TwitterNote to readers: This is a corrected story. An earlier version misspelled Jean-Francois Perrault’s surname.
NEW YORK — The following is a list of initial public offerings planned for the coming week. Sources include IPO ETF manager Renaissance Capital, and SEC filings.Week of Nov. 26.No IPOs scheduled for next week.The Associated Press
The Canadian Press Index and currency in this story: (TSX:GSPTSE, TSX:CADUSD=X) TORONTO — Canada’s main stock index was up in late-morning trading, boosted by the influential financial, industrial and materials sectors.The S&P/TSX composite index was up 70.56 points at 14,433.21.In New York, the Dow Jones industrial average was up 167.79 points at 23,760.77. The S&P 500 index was up 11.75 points at 2,557.69, while the Nasdaq composite was up 47.81 points at 6,801.54.The Canadian dollar traded for 74.32 cents US compared with an average of 74.63 cents US on Monday.The February crude contract was down US$2.13 at US$48.07 per barrel and the January natural gas contract was up 15.4 cents at US$3.68 per mmBTU.The February gold contract was down US$1.50 at US$1,250.30 an ounce and the March copper contract was down 6.95 cents at US$2.68 a pound.
CALGARY, AB – With increased demand, improved refineries, improving transportation capacity and mandatory productions cuts, prices should improve in 2019 says Deloitte’s Resource Evaluation and Advisory (REA) group.In its latest report, Deloitte says these factors should begin to reduce the current oversupply of Canadian oil and help with WTI prices that were present in the final quarter of 2018.“The severe imbalance between Canada’s production and its capacity to export that oil caused Canadian oil price benchmarks to collapse over the past few months,” says Andrew Botterill, Partner, REA group. “Heavy oil differentials were as high as US$45 per barrel in mid-November while light oil differentials reached as much as US$35 per barrel, although they did begin to drop back slightly toward the end of the year as refineries in the U.S Midwest returned to more normal utilization rates for Canadian oil.” Botterill noted storage stockpile volumes in Alberta rose to approximately 35 million barrels in 2018 yet the Canadian supply remains an issue. With the Alberta Government imposing mandatory production cuts which take place in January, this should reduce production by 325,000 barrels a day until the excess storage volumes dissipate, after which the cuts will drop to 95,000 barrels a day for the rest of 2019.Deloitte expects this will decrease discrepancies for Canadian oil price benchmarks and increase provincial royalty revenues in Alberta and in Saskatchewan, where there are no mandatory production cuts but where crude prices will also rise because of the reduction in oversupply.Canadian oil prices should also strengthen in 2019 because of improved export capacity as a result of the Alberta government’s plan to purchase additional rail cars to transport crude oil and the extra rail cars should increase exports by 120,000 barrels a day by 2020. With expanded capacity of Enbridge’s Line 3 Pipeline will add approximately 370,000 barrels a day of export capacity, an increase of about nine percent. The pipeline transports a variety of Canadian crude oil to the United States notes Deloitte.“Increased demand for Canadian oil from Alberta’s Sturgeon refinery and from U.S. Gulf Coast refineries looking to replace some of their heavy crude supplies that used to come from Mexico and Venezuela is another reason we expect the price differential with WTI to continue narrowing in 2019 and beyond,” says Botterill. “At this point, we are forecasting a price of US$58per barrel for WTI this year and C$50 per barrel for WCS”.Botterill says Deloitte expects Canadian natural gas prices to continue to trail behind the Henry Hub benchmark in 2019 despite some recent gains. No near term growth is expected for Canadian natural gas production because of high U.S. production rates and the possibility that short-term demand in Alberta could slow as oil sands producers – whose extraction efforts account for about 40 percent of natural gas consumption in the province – scale back their operations due to the mandatory production cuts. Several natural gas producers continue to take advantage of any available price diversification opportunities, however, including shipping volumes to East Coast markets where prices are higher.“We expect low AECO prices to continue for several years given the current situation,” says Botterill. “Our current forecast for AECO is C$1.75 per Mcf in 2019 while Henry Hub should be US$3 per Mcf.” For Deloitte’s December 31, 2018 oil and gas price forecast; CLICK HERE
Anveshi Jain, the most googled woman in India, is now becoming Balaji’s frequent as she’s to appear in their next web series.ALT Balaji’s ‘Gandi Baat 2’ became the turning point in Anveshi Jain’s career, taking her to new heights. Her bold performance in the web series not only won her accolades, but also made her the most Googled name. Owing to her far-reaching influence, popularity, and talent, ALT Balaji has roped her for their upcoming project titled ‘Boss-Baap of special services’. The confirmation was given by the actor herself, who however refuses to reveal more about the show. Also Read – I have personal ambitions now: Priyanka”This is my second association with ALT Balaji and I’m very excited to be part of ‘Boss-Baap of special services’,” said Anveshi, adding, “This web series is a perfect package of action, drama, mystery, romance, and thriller. I’m playing a pivotal role in the web series. I cannot reveal any further information about my character or web series as yet, but I can assure the audience that this is something worth your wait.” Karan Singh Grover and Sagarika Ghatge will be playing the lead character in the series. Also, Sonali Raut, Ayaaz Khan, and Kanica Maheshwari will be seen in a substantial role. Anveshi has always tried to break the barriers and surprise the audience with something new. It would be interesting to see what new avenues she explore in the upcoming web series.
Bangkok: South Korean electronics major Samsung Wednesday unveiled the A80 model, the flagship of its A series mid-range mobile phones which are expected to play a key role in its efforts to wrest back lost market share from Chinese competitors in India. As part of its strategy to take on competitors such as Xiaomi, Huawei and OnePlus, Samsung had last year said it would introduce latest innovative features on its A series of devices as well instead of just the top-end Note and S smartphone series. The company is expected to launch in India the A70 model – which has already been globally unveiled soon – later this month, followed by the A80. Also Read – Thermal coal import may surpass 200 MT this fiscal”The Galaxy A Series provides a range of models so everyone can choose a device that fits their unique needs and enables them to pursue their passions. The Galaxy A80 offers premium features for digital natives who want to fully engage in the Era of Live,” Samsung Electronics President and CEO, IT and Mobile Communication Division, DJ Koh said while unveiling the A80 here. Samsung Electronics has set a revenue target of USD 4 billion in 2019 from its A series alone in India as compared to an insignificant contribution to its total mobile revenue of around Rs 36,700 crore in FY2017-18 when it had just two models A7 and A9 under the series. Also Read – Food grain output seen at 140.57 mt in current fiscal on monsoon boostWith Chinese players denting the company’s share in the mobile handset market impacting its leadership position, Samsung had refreshed its strategy to bring its top-end innovative features to the mid-range instead of restricting those to top-end models. While Samsung usually cites GfK data, reports from other research organisations like IDC and Counterpoint have positioned Xiaomi to be ahead of Samsung (in terms of units shipped) for many quarters now. Samsung currently sells A10, A20, A30 and A50 models under the A series priced between Rs 8,490 and going up to Rs 22,990 at present in India. “The A80 will be the flagship of the A series. It has been designed to cater to the changing consumer pattern from the era of self to the era of live (video),” Samsung Electronics Regional Product Manager Adele Tan said. Company officials said the A series will play a key role in Samsung’s strategy to enhance sales, especially in the mid-range segment. As part of the strategy, the company has planned to launch at least one new model under the series every month in the first half of 2019 in India. Among other features, the A80 has an innovative camera mechanism that delivers the same triple camera experience with the same high-resolution lens, for both front and rear. When users select the selfie mode in the camera app, the three cameras automatically pops up from the back of the phone and rotate. While the main camera is 48MP, the ultra wide has 8MP and the 3D depth camera offers Live Focus videos by scanning objects for measurement and depth.
New Delhi: According to a Delhi Police data, in last in 90 days, 10,344 persons were booked for consuming liquor in public places of the city. In comparison, 6,861 persons were arrested during the same period in 2018. The cases under the Narcotic Drugs and Psychotropic Substances Act has also risen compared to the last year.Police sources told Millennium Post that they have heightened the security which resulted in curbing the menace. Sources informed that out 15 districts, two were on the top with 2706, and 2015 arrests, while 5,585 arrests were made from the rest of 13 districts. Additionally, two units of city police, railways and crime branch caught 38 persons drinking in public places. According to police, drinking in public places would often result in quarrel, fights, rash driving. “We conduct surprise checkings in different areas, and also put pickets to check drunk and driving cases,” police said. Last year city police started a drive named “Reclaiming Public Spaces” under which they booked several persons. The police started the initiative after it was found that families had started avoiding public places due to the presence of anti-social elements fostered by illegal activities like gambling and drinking liquor. To keep the public spaces free from the anti-social elements, park patrolling is being done to sanitize. Apart from different drives, the city police in plain clothes also roam around in different places to keep an eye on any untoward activity. Cops also ask the whereabouts of suspicious people and frisk them to check if they are armed. Cases registered and vehicle seizure Total 1,549 Excise Act cases were registered till March this year, whereas, the number was at 874 during the same period in 2018. As many as 172 vehicles involved in the illegal activity were seized last year (till March), whereas, in the current year, the law enforcement agency has seized 245 vehicles. Around 1,46,211 illicit bottles were recovered in 2018 as compared to 1,76,890 bottles seized this year. Cases under NDPS Act In 2019, a total of thirteen cases have been registered under the Narcotic Drugs and Psychotropic Substances Act, whereas last year only seven were reported. “As many as 30 persons arrested last year whereas 28 drug traffickers have been nabbed this year,” said police sources adding that 19 habitual drug traffickers have been also identified. The history sheets of 66 drug traffickers have already been opened while the proposal has been made to open cases of an additional six history-sheeters.