Venmo to launch its first credit card in 2020

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Venmo announced today its plans to launch its first-ever credit card. The card is being issued in partnership with Synchrony, already the issuer behind Venmo parent company PayPal’s Extras Mastercard and Cashback Mastercard. The move is meant to help Venmo, a still unprofitable arm of PayPal’s larger business, generate more revenue.

PayPal’s plans in this space were reported in April of this year by The WSJ, which said the company had been taking meetings with various banks since late 2018 to discuss a Venmo-branded credit card. The report said PayPal was then close to selecting Synchrony as its issuer and would likely announce the card sometime later in 2019, as it now has.

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Will cryptocurrencies trash cash? ‘Fedcoin’ could do it

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The cryptocurrency hype train obviously has no brakes. But could it eventually replace cash in the US? According to the thinking of economists cited by the Bank for International Settlements, it just might. And to the chagrin of the anti-establishment types that fueled bitcoin’s early rise, it will likely be run by the Federal Reserve.

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PayPal, Bitcoin, and the future of digital currency adoption

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PayPal announced several partnerships, recently, aimed towards enabling certain PayPal merchants to be able to accept bitcoin as a form of payment from their customers. This was a significant announcement on multiple fronts as many had wondered if and what PayPal’s foray into the cryptocurrency space would be.

 

 

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Peter Thiel’s Quest for Creating a Viable Global Currency

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Futurist Thomas Frey: In 2003 the DaVinci Institute produced a landmark event called “The Future of Money Summit” which took place at the Omni Hotel in Broomfield, CO. One of the featured speakers was Bernard Lietaer, chief architect of the Euro.

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Bump Pay – an app that lets you pay your friends by bumping iPhones

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If your friend owes you money, lacking cash is no excuse if he’s got an iPhone.  Just like sending contact information with the Bump app, you can now transfer money the same way with Bump Pay. The free app asks for your email address when it’s initially opened. You and your iPhone-wielding friend bump hands; when you feel the vibration, the money’s a-moving.

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Anonymous hacktivists take down MasterCard.com again in support of WikiLeaks

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WikiLeaks certainly has powerful cyber-supporters.

Just one day after the LulzSec hacking group announced its retirement after a 50-day stint, it appears that hackers with the Anonymous group have picked up from where they left off by attacking the MasterCard website in protest of the WikiLeaks blockade.

Earlier today, Twitter user @ibomhacktivist tweeted a message saying that MasterCard.com was down. The hacker said “that’s what you get when you mess with @wikileaks and @Anon_Central.”

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Why Credit Cards Are Not the Future of Online Payment

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The future of credit cards online is changing quickly.

The concept of credit has been around for centuries. Starting in the early 1800s, local merchants allowed trusted customers to make purchases without paying the total cost upfront. This intuitive concept allowed sellers to reach a larger base of customers who could then pay their debt over time. The idea of enabling purchases by extending credit spread quickly, and in the early 1950s, a seminal moment occurred: the invention of the credit card.

Over the next half century, the credit card and buying on credit concept became entrenched in countries across the globe, particularly so in the United States. Today, we’re beginning to see signs of changing consumer behavior when it comes to making purchases, particularly in the online world…

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