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Finance

Payment fee rates fall, but relief for micro merchants remains uncertain

South Korea's financial authorities said expanded disclosures by 17 electronic financial firms showed average payment fee rates fell versus the prior disclosure period. The authorities split out external fees paid to card issuers and fees retained by e-finance firms to improve transparency. They said some firms do not apply lower rates to smaller merchants and in some cases charge higher rates, raising questions over whether guidelines aimed at easing burdens on micro and small merchants are working.

Crypto

Ingenico to support stablecoin payments

Payment terminal provider Ingenico will partner with WalletConnect Pay to support in-store stablecoin payments, Cointelegraph reported on Jan. 13. The service will allow customers to use USDC, EURC and USDt directly and will operate by bypassing existing card networks. Ingenico said payments will be supported from wallets such as MetaMask and Trust Wallet and could be used immediately on more than 40 million POS systems deployed in 120 countries, subject to merchant and payment provider decisions.

Crypto

Polygon to buy Coinme and Sequence for $250 million to expand crypto payments

Polygon will acquire U.S. crypto payments company Coinme and wallet infrastructure provider Sequence in a deal worth $250 million, Cointelegraph reported. The purchase will give Polygon Coinme’s U.S. money transmission licences, fiat on- and off-ramps, and Sequence’s wallet and cross-chain payments technology. Polygon Labs CEO Marc Boiron said the deal aims to help companies experiment with blockchain applications and to build an on-chain payments platform.