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Tags: EU | Spain | Falciani | Xnet

Spain Activists, Whistleblower Creating Digital Pay System

Spain Activists, Whistleblower Creating Digital Pay System

Thursday, 28 January 2016 11:33 AM

BARCELONA, Spain (AP) — A French whistleblower and Spanish anti-corruption activists are designing a digital payment system to exclude middlemen companies that make money from online purchases.

Herve Falciani and the Xnet group say the system would work like PayPal on a local basis within European cities for citizen payments to participating businesses and governments.

Falciani and Xnet said Thursday it will be nonprofit, with a pilot program in Italy starting in March.

They say excluding online payment companies would mean savings for local consumers and businesses.

A Swiss court last November convicted Falciani in absentia for economic espionage for leaking documents he acquired while working for HSBC from 2006-08.

Xnet revealed documents alleging former IMF chief Rodrigo Rato abused a company credit card while working as chief executive of Spain's Bankia bank.

© Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Europe
A French whistleblower and Spanish anti-corruption activists are designing a digital payment system to exclude middlemen companies that make money from online purchases.Herve Falciani and the Xnet group say the system would work like PayPal on a local basis within European...
EU,Spain,Falciani,Xnet
132
2016-33-28
Thursday, 28 January 2016 11:33 AM
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