Payments News from Glenbrook Partners
Glenbrook   Book   Education   Views   Archives   Store   About         SUBSCRIBE:

August 26, 2016

Headline News from PaymentsNews.com - August 26, 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

  • America’s Biggest Banks Have a New Name for Their Venmo-Killer: Zelle - Wall Street Journal - "Early Warning, a bank-owned entity that is running the payment service, confirmed the name after The Wall Street Journal reported it earlier Wednesday. The service, which allows customers to use their mobile phones to zap money from their banks’ accounts to accounts at other financial institutions, has been operating for several years under the name clearXchange. That name, however, was never promoted as a corporate brand."
  • Apple Plans iPhone for Japan With Tap-to-Pay for Subways - Bloomberg - "Apple Inc. is planning a new iPhone feature for Japan that will enable users to pay for mass-transit rides with their smartphones instead of physical payment cards. A future iPhone will include technology called FeliCa, a mobile tap-to-pay standard in Japan developed by Sony Corp., according to people familiar with the matter."

ON THE WIRES

  • RETAILERS WELCOME RELEASE OF GOODLATTE ONLINES SALES TAX BILL - "“We hope this move will bring the attention needed to get Congress to move forward in treating purchases made online the same as those made in local stores when it comes to sales tax collection,” NRF Senior Vice President for Government Relations David French said. “With online shopping increasing every day, it’s time for Congress to act. The price advantage held by online sellers when they don’t have to collect sales tax has resulted in the shuttering of bricks-and-mortar retail stores in almost every community across the nation over the last few years. That cannot be allowed to continue.”"

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. 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!

August 25, 2016

Headline News from PaymentsNews.com - August 25, 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

  • Mobile Bank Heist: Hackers Target Your Phone - Wall Street Journal - "Malicious software programs with names like Acecard and GM Bot are gaining popularity around the world as criminals look for new and lucrative ways to attack the financial-services industry. Cyberthieves are using such so-called malware to steal banking credentials from unsuspecting consumers when they log onto their bank accounts via their mobile phones, according to law-enforcement officials and cybersecurity specialists."
  • If cash is king, it’s time for a revolution - Boston Globe - "There’s a professor at Harvard University who’d like to take all your cash, and not for tuition. In a witty new book, “The Curse of Cash,” economist Kenneth Rogoff argues the human race would be better off without paper money. He’s onto something. The US is adopting digital payment systems so universal and — in theory — so secure there will be little need for cash. But America is taking its sweet time about it."
  • NIST declares the age of SMS-based 2-factor authentication over - Tech Crunch - "2-factor authentication is a great thing to have, and more and more services are making it a standard feature. But one of the go-to methods for sending 2FA notifications, SMS, is being left in the dust by the National Institute of Standards and Technology."
  • Ant Financial, Tencent Win Digital Wallet Licenses in Hong Kong - Bloomberg - "Ant Financial and Tencent Holdings Ltd. have won approval to operate digital wallets for customers in Hong Kong, a significant step in the two Chinese internet giants’ overseas expansion."
  • Case Study: Small Retailers Are Going Bigger When It Comes To Payments Security - Point of Sale News - "Combating cyber criminals can be tough for businesses that lack the technical and budgetary resources of a large enterprise. Partners with the expertise and perspective to support the unique needs of small businesses can be few and far between. Epicor Software Corporation is one such partner. It was founded to serve just these types of businesses, and today the company supplies state-of-the-art enterprise resource planning (ERP) solutions to small and mid-sized retailers in North America."

ON THE WIRES

  • China Leads Global Fintech Investments, Accenture Finds - "Investments in Asia-Pacific have eclipsed North America, which as of July 31 garnered $4.58 billion in fintech investments; and also tops Europe, which attracted $1.85 billion in the same period. However, deal volume remains higher in North America and Europe, as the Asia-Pacific increase is due to big investments in a few select fintech companies in China. There have been 192 deals in Asia-Pacific so far this year, as compared with 509 in North America and 230 in Europe."
  • The Password is Dead: MobileIron and Entrust Datacard Partner on Derived Credentials for Next-Generation Multi-Factor Authentication - "MobileIron (NASDAQ: MOBL), the stand-alone EMM leader, and Entrust Datacard, a leader of trusted identity and secure transaction technologies, today announced a technology alliance partnership to deliver derived credentials for next-generation multi-factor authentication. MobileIron Derived Credentials with Entrust IdentityGuard Mobile Smart Credential ("Derived Credentials") will provide government agencies that want to use mobile technologies the ability to protect sensitive data while eliminating the need for passwords and hardware tokens."
  • Conexxus and National ATM Council Announce Issuance of Skimming Detection & Deterrence Guide for Convenience Stores ATMs - "Conexxus and the National ATM Council (NAC) today announced issuance of their jointly developed ATM Skimming Detection & Deterrence Guide (Guide) for use at U.S. convenience stores. The Guide was created to help ensure that America's convenience stores and retail ATM providers maintain their excellent track record for providing safe and secure transactions at in-store ATMs, despite a heightened near term card "skimming" risk from current implementation of EMV at U.S. ATMs."
  • OT’s Leading eSE Gets 4 New Certifications for Biometric-Compliant Payment and for Transport - "OT (Oberthur Technologies), a leading global provider of embedded security software products and services, today announces that its embedded Secure Element, PEARL by OT®, is the first eSE worldwide to be certified by Visa, MasterCard and Amex for biometric-compliant payment applets (VISA VMPA v1.4, MasterCard MCM v1.1 and AMEX v2.0), as well as by OSPT Alliance (CIPURSE™ V2) for urban transport applications and value added services. With these new certifications granted to PEARL 800K Classic v4, OT confirms the position of PEARL by OT® as the most advanced multi-application eSE on the market."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. 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!

August 24, 2016

Headline News from PaymentsNews.com - August 24, 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 the chip-card transition in the U.S. has been such a disaster - ReCode - "Why are we bothering? Because EMV is already working. MasterCard said counterfeit card fraud is down at its Top 5 EMV-enabled merchants by more than 60 percent since October 2015."
  • Big Banks Band Together to Launch 'Settlement Coin' - Coindesk - "BNY Mellon, Deutsche Bank, Santander and UBS – the latter of which first disclosed its work on a so-called "settlement coin" last year – are hoping to launch a commercial-grade blockchain system by 2018, according to The Financial Times. The banks are working with blockchain startup Clearmatics, based in London."
  • How Nigeria’s Central Bank disrupted the disruptors trying to cut remittance fees - Quartz - "It is difficult to explain just how infuriating this move by the CBN really is. It is nakedly using its powers to benefit big players who were deservedly losing market share due to their costs and bad service. It has rolled back all the progress of the last five years and taken Nigerians hostage to achieve its aim. All of a sudden, people in Nigeria now have to go to the bank again to get money sent to them. "
  • China Imposes Caps on P2P Loans to Curb Shadow-Banking Risks - Bloomberg - "China imposed limits on lending by peer-to-peer platforms to individuals and companies in an effort to curb risks in one part of the loosely-regulated shadow-banking sector."
  • Remind enters the payments space by letting parents pay for field trips with a credit card - TechCrunch - "So what makes this better than PayPal or Venmo or any other established payment provider? Mainly the fact that so many parents and teachers already use Remind on a daily basis to communicate. It would be hard to convert an entire of classroom of parents to a “new” service like Venmo, but if they are already using Remind to check their child’s homework every night, why not just ask them to quickly enter their credit card?"
  • Australian Retailers Back Banks' Right to Negotiate With Apple - MacRumors - "Australian retail giant Coles, the Australian Payments Clearing Association (APCA), and the Australian Retailers Association have all expressed their support to allow some of the country's banks to collectively negotiate with Apple over access to its NFC-based digital payment technology."

ON THE WIRES

  • Ingenico Group and Datacap Deliver Seamless and Secure Pay-at-the-Table Solution to the Restaurant Industry - "Using Ingenico Group’s iCMP mobile smart terminals and Datacap’s NETePay™ EMV-enabled payments solution, Uncle Oogie’s is now able to manage tableside and curbside payments using a Quest tablet from Touch Dynamic. "
  • Paying College Tuition with a Credit Card Comes with a High Cost - "College students who pay their tuition bills with a credit card incur an average "convenience fee" of 2.62%, according to a new CreditCards.com report, which surveyed 300 of the largest U.S. public, private and community colleges. That can amount to $262 for every $10,000 of tuition. Community colleges are the most fee-friendly. Out of the 100 largest community colleges surveyed, 97% accept credit cards for tuition payments and only 8% charge convenience fees. By contrast, 93% of public universities and 77% of private institutions that accept credit cards charge convenience fees."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. 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!

August 23, 2016

Headline News from PaymentsNews.com - August 23, 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

  • Silicon Valley Lender Raises Nearly $50 Million for Subprime Credit-Card Push - Wall Street Journal - "LendUp Global Inc., the startup online lender that has attempted to reinvent the payday loan, is plotting to take on a more mainstream financial product: the credit card. The San Francisco-based lender said it raised $47.5 million in an equity deal designed to expand its card business. The investment values LendUp at about $500 million, people familiar with the matter said."
  • Android Pay adds Walgreens for first retail store loyalty card integration - 9to5Google - "To get the most out of purchases, users can add their Balance Rewards card information to the Android Pay app downloaded on Google Play. Before payment, members simply hold their Android device near the PIN pad and the appropriate rewards information is applied. To checkout, members then hold their Android device again near the PIN pad for payment. Android Pay is easy to set up and users will continue to receive all of the rewards and benefits offered by credit and debit cards."
  • Shopify launches its POS app and card reader in the UK - Techcrunch - "Shopify is launching its retail hardware and point-of-sale app for merchants in the UK. The reader supports tap, chip and swipe payments, letting retailers accept both contactless and traditional card-based payments, and the free app works in tandem with the reader device on either iPhone or iPad."
  • Digital Asset to Open Source Smart Contract Language - Coindesk - "Though no date has been set for the transition, the Blythe Masters-led blockchain startup credited its bid to "advance industry adoption" of the tech as the impetus for the move."
  • Happy 25th birthday to the World Wide Web - CNET - "On August 23, 1991 -- 25 years ago today -- the public gained access for the first time to the World Wide Web, designed and deployed by computer scientist Tim Berners-Lee at CERN in Switzerland. It gave rise to the internet as we know and use it today. "

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. 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!

August 22, 2016

Headline News from PaymentsNews.com - August 22, 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

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. 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!

August 17, 2016

Headline News from PaymentsNews.com - August 17, 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

  • How Millennials Became Spooked by Credit Cards - The New York Times - "It is clear to economists who study payment patterns that millennials are gravitating toward payment methods that skirt both cash and credit. Why carry cash when you can whip out a debit card for the smallest transaction — a sandwich or a bottle of soda — or use an app like Venmo or an online payment service like PayPal? All of those typically draw funds directly from a bank account."
  • UnionPay’s mobile payments land in North America with Canada debut - TechCrunch - "The launch today brings UnionPay’s QuickPass mobile payments system to a number of “daily-spending” merchants in Canada, which is the first North American availability of the system."
  • Peer-to-peer payment app Cookies launches in Germany - TechCrunch - "You can add an emoji with your payment. Cookies call them paymojis, and some of them have special powers. For instance, the lightning paymoji lets you send a lightning-fast super payment. While it takes 1 to 3 business days for a normal payment, a super payment only takes 5 to 120 minutes."
  • Self-Service Checkouts Can Turn Customers Into Shoplifters, Study Says - The New York Times - "Self-service checkout technology may offer convenience and speed, but it also helps turn law-abiding shoppers into petty thieves by giving them “ready-made excuses” to take merchandise without paying, two criminologists say."

ON THE WIRES

  • JPMorgan Chase Signs Phillips 66 to Accept Chase Pay - "Phillips 66 joins a host of merchants in signing up to accept Chase Pay, which gives Chase customers an easy, secure and rewarding way to pay for purchases. The fuel retailer is also a key member of the Merchant Customer Exchange (MCX), a strategic Chase Pay relationship."
  • ACI Worldwide Integrates Ethoca Alerts into Global eCommerce Payments Gateway - "ACI will integrate Ethoca’s flagship service, Ethoca Alerts, into its UP eCommerce Payments solution, making it available to payment service providers (PSPs) worldwide, and by extension, to thousands of leading online merchants worldwide."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. 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!

August 15, 2016

Headline News from PaymentsNews.com - August 15, 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

  • Europe's Disappearing Cash - Emptying the tills - The Economist - "As countries become richer, they tend to move away from cash on grounds of security, convenience and cost. Consumers may think that cash is free but for banks and retailers it is not; it needs to be counted, bundled, transported, cleaned, replaced, checked for forgery, stored and guarded."
  • USA's 5th largest bank adds support for Contactless Payments via Microsoft Wallet - MSPoweruser - "PNC bank joins Bank of America as one of the few banks that support NFC payments for Windows Phones, but I suspect given the low usage of the technology in general in USA it is enough to say this is no longer an area where Windows Phones are left behind."

ON THE WIRES

  • Worldpay heads down under with Australia licence - "Ecommerce in Australia accounted for $42bn of the country’s GDP in 2015, and the country’s consumers lead the world in terms of eWallet adoption, which is favoured by 21% of shoppers buying goods online."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. 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!