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Banks, who retain their customer relationships by having a card in people’s wallets as well as serving the clients in their mobile banking app will lose this relationship in favour of players like Google (Pay) who will provide consumers with the money management, payment and commerce app that does it all. The customer relationship between bank and consumer will be lost while the account will simply act as the rails utilised by overlaying players. For the card networks and the banks involved in the acquiring side (enabling payment acceptance for merchants) the relationship will be challenged and eventually replaced with powerful commerce tools that have the payment part simply built in.

From The Payments King Is Dead. Long Live The New King.:

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Daniel Doderlein made this point in Forbes recently, arguing that Europe needs a “PSD3″ to force banks to connect their APIs to an EU hub where their accounts can be accessed via a standardised API provided in an open, transparent and non-discriminatory manner. This way the services offered are the competitive difference between the players, not their bag of money

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Decades later, what ended battleships was the aircraft carrier, which proved over the course of World War II to be not only lethal to battleships but more flexible and capable than them.

From Tanks vs. Drones Isn’t Rock, Paper, Scissors – The Diplomat.

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Over the past year cheap Turkish drones have mauled enemy tanks and weapons in Libya and Syria, smashing through Russian arms that cost ten times as much

From Attack of the drones shouldn’t kill off tanks | Comment | The Times.

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Instagram had shut down Fitzpatrick’s prior accounts, but she would create new ones when that occurred.

From Amazon sues online influencers engaged in a counterfeit scheme | TechCrunch:

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Not all of the missing cash is being use for illegal purposes, but it’s not an unreasonable assumption to assume that most of it is. There are wads of $100 bills stuffing the mattresses of drug dealers, filling the trunks of money launders and in a least one case wiping the arse of a corrupt politician.

“To give you a sense of just how preposterous the situation was, some of the recovered notes were stained with faeces,” reported Revista Crusoé, the conservative magazine that broke the story.

From Police find cash hidden between Bolsonaro ally’s buttocks | Brazil | The Guardian:

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The Mastercard deal with Finicity may not be the biggest, but it has a chance of having the greater impact. Because if Mastercard is able to industrialise one of Finicity’s founding tenets (relating to rewarding individuals for the rights to use their data), this will help Mastercard’s business customers to generate higher margin income from values services rather than relying on the lower margins of volume-base payment transaction processing.

From The New Era Of Payments Interactions – Last Orders For Traditional Transaction Processors?:

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Adam French from consumer rights organisation Which? said: “Our research has found fake reviews are prevalent across different platforms and the kind of influence they have on our shopping decisions is huge.

From Google: Garage owner takes on tech firm over fake reviews – BBC News:

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A recent Goldman Sachs report predicts that Chinese digital currency 

In ten years we expect DC/EP to reach 1 billion addressable users, 1.6 trillion rmb ($229 billion) in issuance, 19 trillion rmb ($2.7 trillion) in annual Total Payment Value (TPV) and account for 15% of total consumption payments,

From Goldman Expects Digital Yuan to Reach 1B Users in 10 Years – CoinDesk.

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The Los Angeles Police Department has banned the use of commercial facial recognition systems, following inquiries from BuzzFeed News about its officers’ use of a controversial software known as Clearview AI.

LAPD Bans Use Of Commercial Facial Recognition:

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