China Is Developing Mobile Payments Infrastructure, MLB completes iBeacon installations, Ontario mobile payment infrastructure, $2.7 million in Bitcoin stolen, Payment News

Payment Industry News for today from our News Aggregation wing:

1. Businessinsider - China Is Developing A Nationwide Mobile Payments Infrastructure

THE CHINESE GOVERNMENT ESTABLISHES A MOBILE PAYMENT PLATFORM. China has a new national mobile payments platform. The system, which the People's Bank of China began testing last year, provides a ubiquitous mobile payments infrastructure for financial institutions and mobile operators.

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2. Gigaom - MLB completes iBeacon installations at Dodger Stadium and Petco Park

Dodgers and Padres fans will have more to look forward to on opening day than just baseball. The MLBAM (the interactive media and internet branch of the MLB) on Friday announced that it has completed iBeacon installations at both Dodger Stadium and Petco Park in California. These are the first two of more than 20 ballparks that will deploy iBeacons by the start of the 2014 season.

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3. Bankingtech - Cashing out: Ontario mobile payment infrastructure is on the money

According to a recent MasterCard study, an impressive 90% of consumer payments in Canada (by value) are cashless. If you think about it, you are probably more likely to forget your wallet than your mobile phone. The move to contactless payments is the third stage of Canada’s journey away from cash. The first stage was magnetic stripe cards, and Canadians were enthusiastic adopters. However, magnetic cards are susceptible to fraud and Canada’s innovative financial community, centred in the province of Ontario, began looking for a better alternative.

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4. $2.7 million in Bitcoin stolen! Will latest setback kill digital currencies?

What a week for Bitcoin. First, the popular digital currency suffered a massive cyberattack on its public register or ledger, via a distributed denial of service (DDOS) attack on Bitcoin exchanges. The ledger notes every bitcoin transaction, and malicious parties were entering fake transactions and mucking up exchange data. Now using the same exploit, hackers ripped $2.7 million worth of Bitcoin from Silk Road 2.0, the successor to the illicit marketplace Silk Road.

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