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NCR makes $1.7bn offer for Cardtronics

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NCR has made a cash offer worth more than $1.7 billion to buy Cardtronics, trumping a bid made late last year for the ATM operator by Apollo Global Management and Hudson Executive Capital.

ATM manufacturer NCR says it is offering $39 a share for Cardtronics, beating the $35 per share deal proposed by Apollo and Hudson.

Cardtronics runs 285,000 ATMs in 10 countries and claims giant banks and merchants, as well as small businesses among its clients.

Michael Hayford, CEO, NCR, says: “Cardtronics’ debit network is highly complementary to NCR’s payments platform and will enable the combined company to seamlessly connect retail and bank customers while capitalizing on the banking industry’s transition toward infrastructure outsourcing.”

Source: https://www.finextra.com/newsarticle/37246/ncr-makes-17bn-offer-for-cardtronics?utm_medium=rssfinextra&utm_source=finextrafeed

Payments

How Money will Disappear

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In recent months bitcoin has had a phenomenal rally and for good reason. Big payment giants and listed companies are adopting it and not just in the US. One month after Elon Musk announced that Tesla purchased $1.5 billion worth of bitcoin, the Chinese tech company Meitu announced that it made its entry to crypto, buying $40 million worth for bitcoin and Ethereum. On the other hand, the US government is printing money like it’s going out of style. A few days ago, the Senate voted for the new $1.9 trillion stimulus package. With the last one in April, lots of people used their check to buy bitcoin. Most likely, this will be the case when they get this new check too. So you can understand why big tech and Wall Street players are looking at bitcoin. As we all focus on bitcoin, its price and market cap, JPMorgan is looking a little to the left and to the right. They think bitcoin is a parenthesis and the true value lies in innovative products that will come out of tech companies. Analysts at the bank feel that cryptocurrencies are still plagued by a number of inherent problems that may prevent them from going mainstream. Now if you consider the power struggle we will see between the old and the new, central banks and open source crypto, we may see a slowdown. But crypto is not a parenthesis and anything moving fast at some point will have to catch its breadth. That’s only normal and expected. Bitcoin has ceased to be the play thing for a small group of early adopters, miners and believers in crypto and has become a legitimate alternative to inflationary measures. In the end bitcoin, defi and other cryptos will prevail and fiat will go go the way of the dinosaurs.

Ilias Louis Hatzis is the founder and CEO at Kryptonio, a decentralized and keyless crypto wallet. Kryptonio eliminates all the shortcomings of centralized crypto exchanges and problems with managing private keys and seed phrases. Sign up for our and be the first to get the safest cryptocurrency wallet.

After a drop, Bitcoin’s price has rebounded and is hovering around $50k. Bitcoin has surged more than 45% just in Feb. fuelled by a string of mainstream investors and companies, including Tesla, BNY Mellon and Mastercard. In a report to its clients, JPMogan said: “However, fintech innovation and increased demand for digital services are the real story of the coronavirus era, with the rise of online startups and the expansion of digital credit and payment platforms.”

In January, Jamie Dimon’s message to his management team was clear: Be frightened of fintech rivals: “Absolutely, we should be scared shitless about that. We have plenty of resources, a lot of very smart people. We’ve just got to get quicker, better, faster. As you look at what we’ve done, you’d say we’ve done a good job, but the other people have done a good job, too.”

This is not a new message. Back in 2015, Dimon wrote a letter to shareholders warning that “Silicon Valley is coming.” Fintech brings together two of the most powerful industries, technology and finance, as potential collaborators and competitors.

JPMorgan knows that competition will be brutal in the payments sector.

Already, big tech companies have shown increased interest in offering financial products to the customers. Apple launched its own credit card in partnership with Goldman Sachs, while Google allows its users to open a checking account through its partnership with Citigroup.

But fintechs can be any size. Non-bank payment providers have kick-started a surge in payments innovation. We are seeing more fintech startups becoming multi-billion dollar companies. There are at least 4,000 active fintech startups and more than a dozen are unicorns, valued at over $1 billion. While Google, Apple, Amazon, and Facebook, all have built payment systems and made other inroads into finance, the main drivers of fintech innovation have been the thousands of startups attracting billions of dollars in investment each year.

JPMorgan knows that these players will improve the payments experience, in terms of speed, convenience, efficiency and multi-channel accessibility, before they do. They also know that cryptocurrencies will unlock new fintech markets. But what JPMorgan doesn’t think will happen is that bitcoin will displace fiat currencies. That’s why “tech” is so high up on their agenda and “fin” is not. They think nothing is going to change when it comes to money.

But that’s where they are wrong.

Will digital currencies supersede traditional fiat currencies, as the way people exchange value in the world? Yes, I think that is likely. How this happens could take different paths. Let me explain.

Sure, some governments will borrow blockchain elements from cryptocurrencies, but they will want retain control of the money that circulates in their economies. Some will succeed. By the end of the decade, we will have wallets that will resemble multi-currency accounts, but instead of holding accounts with commercial banks, we will be customers of central banks. Several of them, in fact. These wallets will also hold bitcoin and other crypto. In these wallets all central banks’ digital currencies will be interoperable. They will interact with one another and with cryptos, including Bitcoin.

I think it is unlikely that all existing currencies will be replaced exclusively by bitcoin. Today we use different crypto for different things. For example people who value privacy use Monero, Zcash, Dash over bitcoin. In other use cases, think of tokens we use for smart contracts or decentralized exchanges.

Once fiat currencies are on blockchain, transacting between them will be much more seamless. Practically they will “disappear,” as long as you can convert from one to another. It will be just like I use my Revolut account to pay for things. I don’t really care which account I use, if its USD, EUR or bitcoin, as long as I have enough money in some account to pay for what ever I am buying. That’s how digital wallets will work. They will use our digital money to pay for things, essentially meshing money into one value, that takes a digital representation.

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Source: https://dailyfintech.com/2021/03/08/how-money-will-disappear/

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Fintech

ANZ customers using Samsung Pay can now choose to pay via EFTPOS

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ANZ cardholders who choose to use Samsung Pay can now avoid hefty surcharges usually applied at the point of sale on contactless payments.

The major bank will allow its customers to use EFTPOS rather than Visa or MasterCard when making a transaction through digital cards on Samsung phones and smartwatches.

The Melbourne-based bank is the first of the majors to implement a multi-network debit and EFTPOS system for digital wallets and contactless payments through Samsung Pay.

Australia’s EFTPOS system usually attracts minimal or no card surcharge fees in comparison with the other two major card systems in play across the national payment network.

ANZ Samsung Pay customers will now have the ability to make secure payments and withdraw cash at the checkout when choosing either a cheque or savings function on the EFTPOS terminal.

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Source: https://australianfintech.com.au/anz-customers-using-samsung-pay-can-now-choose-to-pay-via-eftpos/

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Blockchain

Crypto Influencer Ben Armstrong Names 4 Cryptoassets That Could Surge in March

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Bitcoin price gained bullish momentum above the $50,000 resistance against the US Dollar. BTC traded towards $52,000 and it remains supported for more upsides.

  • Bitcoin started a fresh increase above the $50,000 and $50,500 resistance levels.
  • The price is now trading well above $50,000 and the 100 hourly simple moving average.
  • There is a key rising channel forming with support at $50,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could correct a few points, but the bulls are likely to protect $50,000 and $49,500.

Bitcoin Price Starts Fresh Increase

After a strong close above the $48,000 level, bitcoin started a fresh increase. BTC was able to clear the key $50,000 and $50,500 resistance levels to move into a positive zone.

There was also a break above a major bearish trend line with resistance near $48,400 on the hourly chart of the BTC/USD pair. The pair extended its rise above the $51,000 level and traded to a new weekly high at $51,853.

It is now correcting lower, but it is trading well above $50,000 and the 100 hourly simple moving average. An initial support is near the $50,750 level. It is close to the 23.6% Fib retracement level of the upward wave from the $47,141 swing low to $51,853 high.

Bitcoin Price

Source: BTCUSD on TradingView.com

There is also a key rising channel forming with support at $50,500 on the same chart. The next major support is near the $50,000 level. Any more losses may possibly lead the price towards the 50% Fib retracement level of the upward wave from the $47,141 swing low to $51,853 high near $49,500. The main support is now forming near the $48,800 level and the 100 hourly simple moving average.

More Upsides in BTC?

If bitcoin stays above $50,500 and $49,500, it could start a fresh increase. An initial resistance on the upside is near the $51,500 level. The first major resistance is near the $52,000 level.

A successful close above the $52,000 resistance level could open the doors for a larger increase in the coming sessions. The next major resistance could be $53,200, followed by $54,500.

Technical indicators:

Hourly MACD – The MACD is now gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 50 level.

Major Support Levels – $50,500, followed by $50,000.

Major Resistance Levels – $51,500, $52,000 and $53,200.

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Source: https://www.newsbtc.com/analysis/btc/bitcoin-turns-attractive-above-50k/

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Source: https://coingenius.news/crypto-influencer-ben-armstrong-names-4-cryptoassets-that-could-surge-in-march/?utm_source=rss&utm_medium=rss&utm_campaign=crypto-influencer-ben-armstrong-names-4-cryptoassets-that-could-surge-in-march

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Fintech

Douugh partners with e-commerce giant Rakuten

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ASX-listed fintech Douugh is hoping to grow its user base through an affiliate marketing agreement with Japanese-headquartered online shopping marketplace Rakuten’s advertising division.

The move will see the ‘smart bank account’ fintech use Rakuten as a channel to increase app downloads and to fasttrack customer acquisition.

Beginning immediately over a 12-month period, the partnership will allow Douugh to expand its reach through retail offers, influencers and cashback rewards.

To read more, please click on the link below…

Source: Douugh partners with e-commerce giant Rakuten – Finance – Software – iTnews

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Source: https://australianfintech.com.au/douugh-partners-with-e-commerce-giant-rakuten/

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