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December 06, 2016

Headline News from PaymentsNews.com - December 6, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Banks, Retailers Take Swipes at Each Other Over Dodd-Frank Fees - Bloomberg - "Six years ago, when President Obama signed the Dodd-Frank Act into law, America’s retailers got a big reduction in the debit-card fees they pay banks. Now, with Donald J. Trump set to take office, they’re preparing for a lobbying fight to defend that legislative victory -- and the billions they’ve saved as a result."
  • Alipay expands partnerships to tap Chinese travelers to Europe - Reuters - "Alipay said Tuesday it has partnered with four more financial services providers in Europe, as it looks to tap into Chinese consumers traveling abroad, in a move that could help China's top online payments platform expand its global footprint nearly tenfold."
  • Flutterwave aims to unify Africa’s fragmented payment systems and empower small businesses - TechCrunch - "Moneywave isn’t a user-facing tech like Square or Venmo, but an API layer that can be integrated into your business platform, however modest it is. Payments of whatever type or currency — card, bank transfer, e-wallet — enter on one side and come out the other into the bucket of your choice."
  • Russian central bank hit by $31m hacks - Finextra - "Russia's central bank says that hackers stole more than two billion rubles (around $31 million) from correspondent accounts this year."

ON THE WIRES

  • Mastercard and Wells Fargo Make Sending and Receiving Money Faster, Easier, and More Secure - "Mastercard (NYSE:MA) and Wells Fargo & Co. (NYSE:WFC) announced today that Mastercard SendTM is now speeding payments for Wells Fargo Treasury Management and Wells Fargo Merchant Services customers. Mastercard Send™ is a payments service that sends funds quickly and securely to consumers domestically."
  • American Express® to Enhance Fraud-Prevention and Security Capabilities With Acquisition of InAuth - "As an extension of the company’s multilayered strategy for fighting fraud, American Express (NYSE:AXP) today announced it has acquired InAuth, Inc., a leading provider of mobile device authentication and intelligence solutions. InAuth’s technology is used by some of the largest financial institutions, banks, payment networks and merchants to reduce risk and help identify potential fraud utilizing its mobile-first device authentication capabilities."
  • Mint Introduces Bill Pay, Helping Millions to Never Miss a Bill - "Mint, from Intuit Inc. (Nasdaq: INTU), is adding bill tracking and payment to its free personal finance app to help millions of Americans effortlessly stay on top of bills. New intelligent features send automated reminders, update payment status, and suggest bills to sync based on prior transaction history, with no additional set up needed for existing Mint users. The tools aim to take the work out of bill management by doing what Mint does best: seamlessly integrating data from multiple sources into an actionable picture."
  • Information Security Forum Forecasts 2017 Global Security Threat Outlook - ""The pace and scale of information security threats continues to accelerate, endangering the integrity and reputation of trusted organizations. In 2017, we will see increased sophistication in the threat landscape with threats being tailored to their target's weak spots or threats mutating to take account of defenses that have been put in place," said Steve Durbin, Managing Director of the ISF. "Cyberspace is the land of opportunity for hacktivists, terrorists, and criminals motivated to wreak havoc, commit fraud, steal information, or take down corporations and governments. The solution is to prepare for the unknown with an informed threat outlook. Better preparation will provide organizations of all sizes with the flexibility to withstand unexpected, high impact security events.""

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

December 05, 2016

Headline News from PaymentsNews.com - December 5, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • The Fed Leaves Durbin Cap Unchanged Despite Ongoing Drop in Issuers’ Debit Card Costs - Digital Transactions - "Issuers subject to the Durbin Amendment’s pricing controls on debit card transactions experienced an overall average cost of 4.2 cents to authorize, clear, and settle these transactions in 2015, excluding fraud costs. That is half of the 9.4 cents the Fed calculated in 2011. The average was 4.6 cents in 2013."
  • Amazon launches a beta of Go, a cashier-free, app-based food shopping experience - TechCrunch - "Customers use the Go app to enter the store, and once inside, some combination of sensors, computer vision and deep learning keep track of what’s taken off and returned to shelves inside a virtual cart. Once finished, the shopper just walks out and the company charges their Amazon account, along with a receipt."
  • Guessing Credit Card Security Details - Schneier on Security - "Researchers have found that they can guess various credit-card-number security details by spreading their guesses around multiple websites so as not to trigger any alarms."
  • Viber gets in-app mobile banking system - Mobile Commerce Daily - "“This is the only messaging platform that, through an API, can be directly integrated with banks’ existing digital banking channels.”"
  • Cashless Economy Still a Fantasy for India - Bloomberg - "Problem is, while e-commerce is booming, India remains one of the most cash-dependent countries in the world. Just over half of the nation’s adults have bank accounts, a precursor to using digital payments. Roughly 98 percent of all transactions are in cash, with 11 percent of consumers using a debit card in 2015, while most retailers don’t accept cards. "
  • Santander invests in B2B supply chain platform Tradeshift - Finextra - "Headquartered in San Francisco, Tradeshift operates a B2B e-commerce platform, connecting 800,000 companies across 190 countries. The company boasted a 250 percent growth rate in 2015 for its procure-to-pay capabilities, faster payments services and predictable cash flow services. "
  • Artificial intelligence and the evolution of the fractal economy - TechCrunch blog - "Financial systems are larger than the sum of their parts. The underlying rules that govern them might seem simple, but what surfaces is dynamic, chaotic and somehow self-organizing. And the blood that flows through this fractal heartbeat is data."

ON THE WIRES

  • Visa Checkout and Papa John’s Team Up to Bring Fans Free Pizza - "Continuing its quest to provide the best fan experience, Visa, an NFL Sponsor for more than 20 years, announced the availability of Visa Checkout with Papa John’s, the Official Pizza Sponsor of the NFL. Pizza and football fans can now spend more time building their favorite pizza and watching their team dominate on the field, and less time filling out payment and delivery information. For a limited time, Visa Checkout and Papa John’s are ensuring fans are well-fed by offering them a new deal: order any Papa John’s pizza on PapaJohns.com and pay using Visa Checkout, and get a free large 1-topping pizza with your next purchase."
  • By adding giropay to its International payment method portfolio, Limonetik now offers Merchant access to 35 m. of German Consumers - ""With e-commerce globalisation, giropay is constantly looking at developing its network of International payment partners, especially in France." giropay has chosen Limonetik because of its simple implementation and its wide network of affiliated e-merchants interested in accessing the German e-commerce market. "Limonetik allows merchants to easily add giropay to their website's payment page. With Limonetik, we accelerate the availability of giropay in Europe", adds Joerg Schwitalla."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

December 02, 2016

Headline News from PaymentsNews.com - December 2, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Regulator Will Start Issuing Bank Charters for Fintech Firms - Wall Street Journal - "Financial-technology firms will soon have the chance to apply for new banking charters, under a plan from a top U.S. regulator designed to let thousands of upstarts grow nationally under federal oversight."
  • CIO Voices: Capital One’s Rob Alexander on How to Win in Banking - CIO Journal (WSJ) - "For Rob Alexander, CIO of Capital One Financial Corp., there’s little division between a bank and a technology company. “Technology is reshaping this business,” he says. “The winners will integrate banking into customers’ lives.”"
  • Why in-store mobile payments are still struggling - Mobile Commerce Daily - "This Black Friday, one of the trends that was noted by researchers from Cayan was the ratio of purchases made from regular card payments to purchases made with mobile payments. What they found was the mobile payments are sorely lacking in the physical retail world, making up less than 10 percent of all sales, with an average of .6 percent per state. That is more than last year but nowhere near the growth that was expected."
  • YayPay wants to help big companies deal with accounts receivable - TechCrunch - "YayPay is focusing on an interesting yet underserved niche — collecting payments from your customers. The startup is launching the second version of its platform today and now focuses on big companies with accounts receivable teams."
  • Apple Pay launches in Spain - NFC World - "Apple Pay has been officially launched in Spain, with Apple developing partnerships with Banco Santander, payment giants American Express and Mastercard, retailer Carrefour and prepaid meal payment service Ticket Restaurant."

ON THE WIRES

  • Visa to Acquire CardinalCommerce to Secure and Accelerate Digital Commerce - "Visa (NYSE:V) today announced an agreement to acquire CardinalCommerce, an industry leader in e-commerce payment authentication. The acquisition will enable more secure, seamless payments, whether made through a browser, mobile app, or connected device, and will help Visa’s clients and merchant partners accelerate digital commerce."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

December 01, 2016

Headline News from PaymentsNews.com - December 1, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • The SEPA Instant Credit Transfer Scheme Rulebook is Published! - European Payments Council - "Today is a major milestone for European payments: the EPC publishes the first rulebook of the SEPA Instant Credit Transfer (SCT Inst) scheme. It will allow the transfer of initially up to 15,000 euro per single transaction in less than ten seconds, any time and any day, and in an international area that will progressively span over 34 European countries."
  • PayPal Delivers Business Services On-the-Go - PayPal blog - "To extend PayPal’s merchant services to millions of small businesses who need easy access to their account on the go, today we’re announcing availability of the new PayPal Business app, offering businesses an easy way to manage their PayPal account activity wherever business takes them."
  • American Express launches NFC mobile payments in Canada - NFC World - "American Express cardholders across Canada can now make NFC mobile payments using Amex Pay, a new feature added to the Amex App. The service is available for customers with eligible consumer, small business and corporate cards with compatible Android devices and the latest version of the mobile app."
  • As Web Sales Spike, Retailers Scramble to Ship From Stores - Wall Street Journal - "Two decades after Amazon.com Inc. was founded, traditional retailers are still struggling to manage hundreds of brick-and-mortar stores, while trying to maximize online sales. "

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

November 30, 2016

Headline News from PaymentsNews.com - November 30, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Why Closing Bank Branches Isn’t Always a Road to Riches - Wall Street Journal - "One of banks’ favorite cost-cutting strategies in recent years has been closing branches. But a new study suggests the approach may soon backfire."
  • Bank of America chief: Payback from digital investment is long haul - Mobile World Live - "Bank of America’s (BofA) CEO, Brian Moynihan, told Reuters it may take 10 to 15 years before US banks see the benefit of investing in mobile payments and other tech. Moynihan foresees banks still carrying the cost of processing paper-based cheques and carrying physical dollars and cents for that period of time, according to an interview."
  • Bank CEOs fret about ROI as startups drive IT arms race - Finextra - "Innovations such as real-time payments - a hot topic throughout the conference as a result of The Clearing House’s initiative in this space - require banks to think differently about their expectations of ROI, the CEOs acknowledged. "
  • Hyperledger Blockchain Project Passes 100-Member Milestone - Coindesk - "Of the six new members, four are based in China. The new members include Beijing Botuzongheng Science & Technology Co, Shanghai Gingkoo Financial Technology, Sinolending and ZhongChao Credit Card Industry Development Co. Two US-based firms – Altoros Americas and the Chamber of Digital Commerce – have also joined."
  • Dutch bank launches HCE mobile payments app - NFC World - "Dutch bank ABN Amro has launched a mobile payments app for Android using host card emulation (HCE) technology, allowing customers to make purchases up to €2,500 (US$2,659) each day with smartphones running Android 5.0 or higher."
  • Two hackers are selling DDoS attacks from 400,000 IoT devices infected with the Mirai worm - BoingBoing - "Two criminals, Bestbuy and Popopret -- previously implicated in mass-scale corporate espionage -- are spamming the XMPP/Jabber instant messaging protocol with offers to rent out a 400,000-strong botnet of Mirai-infected devices, and the ad promises that their botnet is a significant improvement on the earlier Mirai infections, equipped with IP-address spoofing features that make it harder for the botnet's victims to block the incoming traffic."

ON THE WIRES

  • Foundation laid for pan-European instant payment solutions - "As tasked by the Euro Retail Payments Board (ERPB), the European Payments Council (EPC) today finalised the framework for pan-European instant payment solutions. The SEPA Instant Credit Transfer scheme paves the way for innovative payment solutions in euro, for example via mobile phone, from November 2017."
  • Consumer-driven payments play an increasing role in merchants' point-of-sale technology adoption. - "ControlScan and the Electronic Transactions Association (ETA) surveyed hundreds of SMB merchants to find out. View the consumer-driven payments infographic below to get point-of-sale technology adoption statistics and to learn the three questions merchant service providers should ask the SMBs they serve."
  • Mastercard Rolls out Artificial Intelligence across Its Global Network - "Current decision-scoring products are focused primarily on risk assessment, working within predefined rules. Decision Intelligence is a radical new approach that goes much further. It takes a broader view in assessing, scoring and learning from each transaction. That score then enables the card issuer to apply the intelligence to the next transaction."
  • Central banks are monitoring and fostering the development of fast payment services - CPMI - "The development and importance of fast payments services are the focus of a new report by the Committee on Payments and Market Infrastructures (CPMI), the global standard setter for payment, clearing and settlement services."
  • TSYS Signs Payments Agreement with Virgin Money - "TSYS (NYSE: TSS) today announced that it has reached a long-term agreement to provide debit processing services for Virgin Money customers within the United Kingdom. Virgin Money previously selected TSYS’ market leading TS2® platform to support its UK cards portfolio."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

November 29, 2016

Headline News from PaymentsNews.com - November 29, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Apple Gets Win Against Australia Banks Over Mobile Payments - Bloomberg - "Apple Inc. scored a victory in the global battle to control the future of mobile payment technology after the Australian competition regulator refused to grant a group of local banks permission to negotiate collectively over the introduction of Apple Pay."
  • SpendTrend Report: Thanksgiving & Black Friday 2016 - First Data - "The 2016 holiday season is off to a solid start. First Data analyzed transactions from nearly one million merchants and found that overall sales growth was up 9% year-over-year, which represents solid growth on top of strong performance from the prior year. Electronics & Appliances saw the largest increase, with 27% growth year-over-year. This analysis is based on actual consumer transactions rather than surveys or speculation."
  • ATM Skimming Attacks Hit NY Hospitals - CU Info Security - "Local police are investigating ATM skimming attacks at four New York hospitals. Security experts warn that fraudsters will likely continue to target locations, including hospitals, where ATMs are not closely monitored and around-the-clock access to the terminals is available."
  • 1,000-Year-Old Royal Mint Will Soon Launch Blockchain Gold Trading - Coindesk - "As part of this larger drive, The Royal Mint has teamed with derivatives marketplace provider CME Group to build and launch a digital gold offering, one that could find it offering its users the ability to execute, settle and trade gold using a blockchain-based system."
  • Twyp mobile payments app service to close in Netherlands - NFC World - "P2P mobile payments app Twyp is to be closed down in the Netherlands from 15 December 2016 after customers there said they “don’t need or want a separate app to make payments to friends”."
  • Uber rival Grab hits the gas on its digital payments platform in Southeast Asia - TechCrunch - "Credit and debit cards can be used to load money into the GrabPay wallet, but it also supports online banks, local ATMs, local wallets and over-the-counter at selected convenience stores. The long-term goal Grab is banking on is that it can assemble a lengthy list of partners that makes GrabPay worthwhile for storing people’s cash for more than just transportation needs. I.e. reaching that point that a user can pay their water bill, use it to pay for a few groceries from 7-11 store, etc, using GrabPay."
  • EMV Shift Fires Up Online Holiday Season Fraud - Credit Union Times - "In the U.S., Thanksgiving and purchases just prior to Christmas have the highest fraud attempt rates. The expected peak-fraud attempt day is Christmas Eve, with nearly 2.5% fraud, due to the popularity of gift cards and last-minute shopping via buy online/pick up in-store availability."
  • San Francisco Rail System Hacker Hacked - Krebs on Security - "The San Francisco Municipal Transportation Agency (SFMTA) was hit with a ransomware attack on Friday, causing fare station terminals to carry the message, “You Hacked. ALL Data Encrypted.” Turns out, the miscreant behind this extortion attempt got hacked himself this past weekend, revealing details about other victims as well as tantalizing clues about his identity and location."

ON THE WIRES

  • Jack Henry & Associates, Inc.® and Early Warning® Unveil Strategic Partnership - "Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Today the company announced a strategic alliance with Early Warning to resell Early Warning's ZelleSM Network to partner financial institutions. Zelle, a new faster payments network, will enable financial institution customers to send faster person-to-person (P2P) payments to nearly anyone with a U.S. bank or credit union account."
  • Affirm Extends E-Commerce Lending Solution with Support for Four Additional Platforms - "Affirm, Inc., the company started by PayPal co-founder Max Levchin to give consumers honest financial products, today announced support for four additional e-commerce platforms: Kibo Commerce, BigCommerce, AspDotNetStorefront and Zen-Cart. Retailers that utilize any of these e-commerce platforms are now able to offer consumers the ability to purchase goods and services online, and break up payments over multiple months. "
  • USAA Adds Six New Features to Digital Wallet - "The idea of searching through your purse or wallet to find your card soon may become like flipping through a phone book to find a phone number. Beyond mobile payments, the USAA digital wallet is bringing members access to other staples of their physical wallet, including their auto insurance card and medical insurance card."
  • Sionic Mobile’s M-Commerce Platform Now Connects Directly with Oracle MICROS Point-of-Sale - "Just in time for the busy holiday travel season, Sionic Mobile today announced the integrated release of its award-winning ION Commerce Engine (ICE) with Oracle Hospitality MICROS POS solution. The integration provides a cardless, 3-digit checkout experience, enabling restaurants to quickly and securely process mobile payments, instantly reward guests and connect with millions of Mobile Rewards App users."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

November 28, 2016

Glenbrook's Spring 2017 Payments Boot Camp Schedule

GP Logo Horizontal 140px Glenbrook’s 2017 Spring Payments Boot Camps in the San Francisco Bay Area, New York, and Atlanta are now open for registration.
Campbell/San Jose, CA - March 7-8, 2017
Workshop Leaders - Russ Jones and Allen Weinberg
Optional Third Day Payments Insight Workshop – Digital Payments

New York, NY - April 18-19, 2017
Workshop Leaders - Bryan Derman and Carol Coye Benson
Optional Third Day Payments Insight Workshop – Faster Payments

Atlanta, GA - May 16-17, 2017
Workshop Leaders - Elizabeth McQuerry and Beth Horowitz Steel
Optional Third Day Payments Insight Workshop – Digital Payments
Agendas, testimonials, and logistics information is available on the Glenbrook website.

NEW! Early Bird discount - save 10% when you register at least 2 months in advance of your preferred workshop. Use discount code GH52R3.