A library of snippets
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The product is designed to replace transactions such as guarantees and letters of credit with smart contracts backed by tokenised cash. The completely digital process will enable 24/7 settlements, when predetermined criteria are met, between Citi clients and their counterparties to automatically execute and provide provisional payments.
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Social media groups must do more in the “war of attrition” against financial fraud on their sites, the UK payment regulator has said, adding ministers should consider making platforms liable for compensation to victims.
From: Social media must do more to tackle payment fraud, says UK regulator.
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Britons lost £460mn to APP fraud last year, according to trade body UK Finance, 70 per cent of which involved goods that were ordered online by consumers but did not arrive.
Most purchase fraud comes from false adverts on social media platforms including Facebook Marketplace and Instagram, according to Lloyds Banking Group and TSB.
From: Meta expands data accord with UK banks in push to cut online fraud.
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Pay with Crypto lets you accept stablecoin payments that settle as fiat in your Stripe balance. You can accept USDC payments on Ethereum, Solana, and Polygon without the complexity of holding or converting crypto to fiat yourself. We charge 1.5% of the transaction amount (in USD).
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t’s better to give merchants more control over how to give out rewards to better serve their customers. Make reward points more of a free-market token than a currency managed by the centralized issuers;
From: What Stripe Has Done Wrong with Their Crypto Payment Solution.
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What’s New
First, a summary on their new payment solution, which you can learn more here.
Allow online merchants to accept crypto and receive fiat without the hustle of managing a crypto wallet;
Users can connect their browser-extension wallet (eg. Metamask, Coinbase Wallet) and pay directly with stablecoin;
After KYB, the merchant experience is the same on Stripe Balance no matter customers pay with credit card or crypto;
They charge 1.5%, which is much lower than the current 2~3.5% credit card take rate when customers pay with credit cards. This is attractive to merchants, especially those in low-margin businesses;
They help merchants with issuing refund which directly refund to customers’ wallet;
Currently only supporting USD settlement for online businesses in the US;From: What Stripe Has Done Wrong with Their Crypto Payment Solution.
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Despite concerns about consumers’ reluctance to abandon credit cards, retailers are under greater pressure to expand payment options and push customers toward lower-cost alternatives. It’s not a sea change yet, but as more major retailers adopt these solutions, it could signal a coming wave for A2A payments.
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A cyberattack tied to the Chinese government penetrated the networks of a swath of U.S. broadband providers, potentially accessing information from systems the federal government uses for court-authorized network wiretapping requests.
For months or longer, the hackers might have held access to network infrastructure used to cooperate with lawful U.S. requests for communications data, according to people familiar with the matter, which amounts to a major national security risk. The attackers also had access to other tranches of more generic internet traffic, they said.
The hackers appear to have engaged in a vast collection of internet traffic from internet service providers that count businesses large and small, and millions of Americans, as their customers. Additionally, there are indications that the hacking campaign targeted a small number of service providers outside the U.S., the people said.
From: Exclusive | U.S. Wiretap Systems Targeted in China-Linked Hack – WSJ.
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“Essentially, we can think of it as reputation as currency. And when you think about how we operate in real life, we have a reputation, and that reputation can give us opportunities… eventually your reputation onchain could lead to opportunities that are more meaningful, like a new job or some other prospect. And that might come about as people want to come to you because you have a reputation that’s perceived as having some form of value.”
From: ‘Reputation is currency’: Animoca Brands’ Yat Siu on the future of our digital identities | NT News.
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Wimbledon will replace all 300 line judges with artificial intelligence and an electronic system from next year, removing human officials for the first time in the championship’s 147-year history.
The All England Club has confirmed all 18 match courts will be installed with automated electronic line calling (ELC).
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The journalist Parker Molloy compiled screenshots of people “acknowledging that this image is AI but still insisting that it’s real on some deeper level”—proof, Molloy noted, that we’re “living in the post-reality.”
From: I’m Running Out of Ways to Explain How Bad This Is – The Atlantic.
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