Friday, 17 February 2017
IBM and Visa Turn Connected Devices into PoS
IBM and Visa Inc. announced the industry's first collaboration that brings the point of sale everywhere Visa is accepted, by allowing businesses to quickly introduce secure payment experiences for any device connected to the Internet of Things (IoT).
The collaboration brings together IBM's Watson IoT platform and cognitive capabilities, with Visa's global payments services that are used by more than 3 billion consumers globally. IBM's Watson IoT Platform allows businesses to connect to billions of connected devices, sensors and systems around the world and then draw actionable insights. Today the platform is used by more than 6,000 IBM clients that are helping customers connect to millions of devices.
IBM and Visa share a vision and commitment to embed payments and commerce into any device - from a watch, to a ring, an appliance or a car. Under this collaboration, companies can infuse secure payments across their entire product lines using the Visa Token Service, a new security technology that replaces sensitive payment account information found on payment cards with a unique digital identifier, via IBM's Watson IoT platform. As a result, IBM and Visa could support payments and commerce on many of the 20 billion connected devices estimated to be in the global economy by 2020.
Seqr Partners with Facestore Launching in 25,000 Online Stores
Seqr, the innovative and easy mobile payment solution developed by Seamless, has partnered with Facestore to launch a new official payment method for consumers on the giant social commerce platform.
Facestore will launch Seqr as a secure online payment method to its 25,000 online stores in Portugal. This partnership will provide merchants using the Facestore distribution platform to offer the Swedish payment option to its customers - not only does Seqr provide merchants with the lowest transaction costs in the market, compared to credit card services, but also benefits consumers with a new secure and easy way to pay.
While traditional e-commerce payment methods charge retailers with extensive costs, Seqr is based on a low cost transaction system. Furthermore, Seqr offers more security, since it doesn't require any private information while paying. "Our infrastructure is solid, it supports more than 675,000 active sales outlets and manages 5.3 billion transactions every year.", concludes Joao Pedro Duarte, Country Manager of Seqr Portugal.
PayPal to Acquire TIO Networks
PayPal Holdings, Inc. and TIO Networks Corp., a cloud-based multi-channel bill payment processing and receivables management company, have announced a definitive agreement under which PayPal will acquire TIO for $3.35 CAD per share in cash or an approximate $304 million CAD equity value. The purchase price represents a premium of 25.2% to TIO's 90-trading day volume-weighted average price as of 13th February 2017, and 22.6% to the 20-trading day volume-weighted average price as of 9th January 2017, the trading day immediately preceding the date TIO entered into exclusive negotiations with PayPal.
TIO is a leading multi-channel bill payment processor in North America and processed more than $7 billion USD in consumer bill payments in fiscal 2016. Using TIO's approximately 900 operated self-service kiosks, approximately 65,000 retail walk-in locations, and mobile and web solutions, customers can conveniently pay their bills while avoiding the service interruptions and financial penalties associated with missed payment deadlines.
Hamed Shahbazi, Chairman and CEO of TIO, remarked, "We founded TIO to make speed and access part of the bill payment experience for the underserved, and we believe that we have created affordable products to serve the needs of all customers. Our mission fits perfectly with PayPal's vision to democratise money. As part of the PayPal team, we believe we will accelerate our growth through expanded distribution and continue increasing access to more billers and services."
IBM Delivers Watson for Cyber Security to Power Cognitive Security Operations Centers
IBM Security announces the availability of Watson for Cyber Security, the industry's first augmented intelligence technology designed to power cognitive security operations centers (SOCs). Over the past year, Watson has been trained on the language of cybersecurity, ingesting over 1 million security documents. Watson can now help security analysts parse thousands of natural language research reports that have never before been accessible to modern security tools.
According to IBM research, security teams sift through more than 200,000 security events per day on average, leading to over 20,000 hours per year wasted chasing false positives. The need to introduce cognitive technologies into security operations centers will be critical to keep up with the anticipated doubling of security incidents over the next five years and increased regulation globally.
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