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September 26, 2016

Headline News from PaymentsNews.com - September 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

ON THE WIRES

  • Faster Processing and Settlement of ACH Credit Transactions begins Today, Reaching all U.S. Bank Accounts - "The Electronic Payments Association®, the trustee and rule maker of the ACH Network, announced the launch of Phase 1 of Same Day ACH. Same Day ACH is a new faster payments option that reaches all bank accounts and will enable businesses and consumers to send and receive payments and payment-related information on the same day through the ACH Network."
  • Major Banks Launch Global Payments Steering Group - "Ripple, the global provider of financial settlement solutions, today announced that a number of global banks are joining forces to establish the first interbank group for global payments based on distributed financial technology. Bank of America Merrill Lynch, Santander, UniCredit, Standard Chartered, Westpac Banking Corporation, and Royal Bank of Canada are the founding members of the organization, known as the Global Payments Steering Group (GPSG)."

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!

September 23, 2016

Headline News from PaymentsNews.com - September 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

  • Payments Data with Russ Jones - Glenbrook’s Payments on Fire Podcast - "Take a dip into the payment data pool in this podcast with Glenbrook’s Russ Jones. Russ discusses artificial intelligence, privacy, and the spread of Bluetooth beacons. For a deeper dive into the topic, join Russ at the Payments Data Insight Workshop on October 13 in Palo Alto because data’s influence in payments continues to expand."
  • Nets Starts Trading as IPO Values Payment Firm at $4.5 Billion - Bloomberg - "Nets Holding A/S, a Nordic payments firm being sold by equity funds Advent International Corporation and Bain Capital Private Equity, as well as Danish pension fund ATP, started trading in Copenhagen after an offer period to buy shares ended early. Investors paid 150 kroner a share to own a chunk of the company, according to a statement to the stock exchange in the Danish capital on Friday. That values Nets at 30 billion kroner ($4.5 billion), with 52 percent of the firm in free float, not including a so-called over-allotment."
  • Facebook Messenger adds group chat Polls and AI payment suggestions - Tech Crunch - "Facebook first launched friend-to-friend payments in March 2015, and just opened up payments to chatbots. But now you won’t have to beg and nag people as directly to settle their debts. Facebook’s AI will swoop in. Facebook already has some know-how here since the head of Messenger David Marcus and its VP of Product Stan Chudnovsky both came from PayPal. Making payments a seamless part of the conversation experience could lure people away from siloed apps like Venmo, PayPal, and Square Cash which solely handle payments and not everyone has. Combining Messenger’s ubiquity with a simple payments feature could keep people running all their communication, words or dollars, through Facebook’s chat app. "
  • World's Largest Mining Company to Use Blockchain for Supply Chain - Coindesk - "BHP Billiton revealed at the second annual Global Blockchain Summit that it will use blockchain to record movements of wellbore rock and fluid samples and better secure the real-time data that is generated during delivery. According to BHP geophysicist R Tyler Smith, the new system will enable benefits for its internal efficiency while allowing it to work more effectively with partners."
  • IBM, China UnionPay Develop Blockchain Loyalty Points Exchange - Coindesk - "In a proof-of-concept revealed today, IBM and China UnionPay have developed a platform that allows customers to trade points earned through purchases and other incentivized behavior with one another. It's a concept that can be applied to the exchange of frequent flyer miles, mobile phone bills or gas cards."
  • Blockchain Makes Inroads in Shipping - Wall Street Journal - "Marine Transport International Ltd., a U.K.-based freight fowarder, has started using blockchain to create real-time digital ledgers of shipping data for use by port officials, cargo owners and others along global supply chains, the company said Thursday."
  • This Beautiful Copper Coin Could Transform How We Spend Money - Fast Company - "Scrip is a provocative solution to a world full of easy electronic payments. A concept by NewDealDesign (NDD)—a design firm known both for working on major products like Google's late Project Ara, Fitbit, and Lytro, as well as feasible sci-fi tech like swappable tattoos that live under your skin. It’s a digitally connected, mechanical brass coin that you load with money like a MetroCard. And as you go about your day, paying for things via wireless NFC connections (like Apple Pay), it offers braille-like tactile feedback so that you recognize how much you’re spending."

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!

September 22, 2016

Headline News from PaymentsNews.com - September 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

  • U.S. House Bill Aims to Set Up ‘Sandbox’ for Fintech Innovation - Wall Street Journal - "The financial technology industry, from digital currencies to peer-to-peer online lending, has raised concerns that U.S. regulation isn’t keeping pace, potentially causing businesses to consider moving operations to the U.K. The sandbox program, kicked off in May, lets companies work alongside a regulator when testing a fintech product or service. "
  • Winklevoss Bitcoin Exchange Gemini to Launch Daily Auctions - Coindesk - "Gemini Trading, the bitcoin and ethereum exchange founded by Tyler and Cameron Winklevoss, is set to begin hosting daily bitcoin auctions."
  • Federal judge says Bitcoin is money in case connected to JP Morgan hack - Ars Technica - "A Manhattan-based federal judge ruled on Monday (PDF) that a man accused of running an illegal Bitcoin exchange website could not have two charges of running an unlicensed money transfer business dropped because Bitcoin is money."
  • Yahoo is expected to confirm a massive data breach, impacting hundreds of millions of users - recode - "Yahoo is poised to confirm a massive data breach of its service, according to several sources close to the situation, hacking that has exposed several hundred million user accounts. While sources were unspecific about the extent of the incursion, since there is the likelihood of government investigations and legal action related to the breach, they noted that it is widespread and serious."

ON THE WIRES

  • Walmart to process payments through ChaseNet - "Chase today announced that it has expanded its relationship with Walmart (NYSE: WMT) to process payments on ChaseNet, the bank's closed-loop network, at its 5,000+ Walmart and Sam’s Club locations in the U.S. and at Sam’s Club ecommerce."
  • Payza Launches Direct Credit Card Processing to European E-Commerce Merchants - "Payza, a global payment platform, has announced today that qualified online businesses and merchants in Europe are eligible for the No Monthly Fee Payza Business account to process Visa and MasterCard payments for rates starting at 2.9%. Approved Payza Business account holders will also be able to accept direct Payza e-wallet, Bitcoin and Interac Online (Canadian debit card network) payments at low cost, without any monthly, maintenance or account set-up fees."
  • NCR Launches Mobile Business Banking Application for Financial Institutions’ SMB Customers - "NCR Corporation (NYSE: NCR), a global leader in omni-channel solutions, today announced the launch of Business Banking Mobile, extending the SaaS-based platform to customers’ mobile devices. The application will allow community financial institutions (CFIs) to compete with larger financial institutions by providing their business banking customers with iOS and Android access to this secure and easy-to-use account management platform."
  • Accenture Implements State-of-the-Art Payments-Processing Platform with UniCredit as First Client - "Accenture (NYSE:ACN) today announced a multi-year contract with UniCredit Business Integrated Solutions, the global service company of UniCredit, to implement a state-of-the-art Payments-Platform-as-a-Service (PPaaS) solution. Accenture’s new PPaaS solution, which is built on DH Corporation’s (TSX:DH) (D+H) global payments services hub software, is a highly scalable, pay-per-use solution that will process SEPA and international payments, and will adapt to new regulations and industry updates, as well as provide flexibility for future expansion."
  • 2016 e-commerce fraud attacks on pace to surpass 2015 totals - "The question of whether we're in Kansas anymore is appropriate with the latest release of Experian® fraud attack data from across the United States. Eudora, Kan., is home to the highest e-commerce billing fraud ZIP Code™. Accounting for 5 percent of the total billing fraud so far in 2016, the town is among the top 25 riskiest ZIP™ codes, illustrating that fraud is not confined to larger cities."

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!

September 21, 2016

Headline News from PaymentsNews.com - September 21, 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

  • Emerging markets urged to embrace digital finance - Financial Times (Paywall) - "Mobile wallets, online payments, pre-paid cards and digital savings accounts are all examples of low-cost financial services that McKinsey Global Institute estimates could add 6 per cent to emerging market gross domestic product by 2025, a boost equal to the entire African economy."
  • Why Vodacom, MTN failed at mobile money - Tech Central - "Excessive regulation, a business model that tried to do too much too soon and trust worries among consumers. These are the reasons Vodacom’s M-Pesa and MTN’s Mobile Money failed in South Africa, according to the CEO of fast-growing fintech player Hello Group."
  • 'Super Shoppers' Demand Specific Payment Options - Retail Touch Points - "Only 13% of the world’s consumers generate 62% of e-Commerce revenues, spending $372.5 billion from March 2015 to March 2016, according to a study from WorldPay. With such a small percentage of consumers accounting for such a large slice of online retail, merchants should certainly cater to these “Super-Shoppers” whenever possible."
  • Study shows Canadians’ growing enthusiasm for mobile payments - NFC World - "A quarter of Canadians aged 18-34 prefer paying with a mobile wallet over cash or card, compared to 18% of those aged 45-54, 10% aged 55-64 and 6% aged 65 and over. In the 18-34 bracket, 46% said they would be more likely to use a mobile wallet if it were available for their credit card, and 47% said they would use one if it were accessible on their current phone. "

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!

September 20, 2016

Headline News from PaymentsNews.com - September 20, 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

  • Swift Creates Payment Pattern Anomaly Alerts for Customers - Wall Street Journal - "Cross-border financial messaging giant Swift is rolling out an anomaly detector to help banks monitor for fraud, as it moves to address a rash of cyberbreaches at customer sites. The company said Tuesday it was developing customer alerts displaying a snapshot of a day’s activity and any unusual messaging patterns detected by Swift."
  • What to expect at the Wells Fargo hearing - Boston Globe - "Details have been leaking out for years but last week the company was hit with a wrist-slapping $185 million fine and an embarrassing report showing how strangely counterproductive the whole operation was. It never helped the company make money; it just helped employees meet misguided sales targets."
  • Stripe Heads for Asian Turf War - Bloomberg - "Stripe has finally marked its official arrival in Asia with the opening of a Singapore office. After expanding to two dozen countries across the globe, it makes sense for the San Francisco-based payments provider to pick Singapore as its launchpad for an assault on Southeast Asia. The city-state is already the latter's financial hub, and it plays host to numerous startups that are attempting to tackle e-commerce in neighboring countries."
  • 7 Financial Firms Test Blockchain for Data Management - Coindesk - "Credit Suisse, Citi and HSBC are among seven financial firms to participate in a data management trial announced today and conducted with support from blockchain firms Axoni and R3CEV."
  • Santander Vies to Become First Bank to Issue Cash on Blockchain - Coindesk - "Spanish banking giant Santander is working on a project that explores how it could digitize customer cash using the public ethereum blockchain."
  • Corporate Judgment Call: When to Disclose You’ve Been Hacked - Wall Street Journal - "Companies are getting hacked more frequently but aren’t disclosing the incidents in their regulatory filings, a trend that worries investors."

ON THE WIRES

  • Noventis to Deliver Faster, Cost-Effective Payments to SMBs - "PreCash Inc. officially became Noventis, Inc. today to serve new markets and deliver faster payments at a lower cost to a broad base of businesses. Fueled by record growth, an infusion of capital and growing market demand for more efficient payment delivery, Noventis will make faster, more cost-effective digital payments available to a wider number of financial services and Fintech partners that serve small to medium businesses (SMBs). Leveraging the same technology that is already in use by over 4,000 partners, Noventis is optimizing payment delivery by providing electronic access to an ever-growing network of businesses."
  • Frost Bank® Joins Early Warning® clearXchange® Network - "Early Warning, the industry leader in real-time payments, authentication and risk mitigation, today confirmed San Antonio-based Frost Bank has joined Early Warning’s clearXchange network. Through the network, Frost Bank is now able to offer person-to-person (P2P) payments directly through its online and mobile banking platforms."
  • Mastercard Teams Up with Stripe to Make Getting Paid Faster and Easier in Today’s Shareconomy - "Today, Mastercard and Stripe announced that Mastercard Send is speeding payments for U.S. sellers on Stripe marketplaces using the instant payouts feature from Stripe. Getting paid as a caregiver, dog walker or hairstylist just became a lot faster and more convenient. Mastercard Send is a first-of-its-kind service that enables people and businesses to send and receive funds quickly and securely."
  • ACI Announces New Cloud-Based Payment Connectivity to SWIFT - "ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, today announced a partnership with SWIFT for Alliance Lite2, the cloud-based connectivity to SWIFT. Available through ACI’s global payment processing solution, Money Transfer System (MTS), ACI is offering this new cloud-based connectivity to provide faster, cheaper access to SWIFT."

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!

September 19, 2016

Headline News from PaymentsNews.com - September 19, 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

  • Bank of England aims to revamp interbank payment system by 2020 - Reuters - "Proposed enhancements include running the system continuously, rather than just during normal working hours, and making it easier for smaller banks, brokers and payment processing firms to access the system directly. "A key enabler for delivering these changes will be a comprehensive rebuild of the RTGS technology platform. The Bank will make decisions on its resilience, including in particular its cyber defenses, in consultation with intelligence partners," the BoE said."
  • The Chip-Card Ninjas Weaning America Off Swiping - Bloomberg - "The chip cards are resistant to forms of fraud to which the old magnetic stripes were vulnerable—so resistant, in fact, that companies have seen a recent surge of fraud as criminals try to burn through their old stolen credit-card data."
  • Banks trusted most to deliver biometric authentication of the future - Payments Cards and Mobile - "Consumers are nearly twice as likely to trust banks to store and keep their biometric information safe (60%), than they are to trust government agencies (33%)."

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!

September 16, 2016

Headline News from PaymentsNews.com - September 16, 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

  • What the Wells Fargo Cross-Selling Mess Means for Banks - Wall Street Journal - "Concept of selling customers multiple products is Holy Grail of banking, but it’s tough to pull off in practice."
  • PayPal Reaches Deeper Into China With UnionPay Partnership - Bloomberg - "Merchants in European countries will be able to accept payments from UnionPay credit and debit cards through PayPal’s Braintree platform designed for mobile commerce, San Jose, California-based PayPal said Thursday in a statement. Adding a familiar payment option is a key step to enabling cross-border e-commerce, so the partnership will increase PayPal’s appeal to European merchants looking to reach Chinese shoppers. Alibaba Group Holding Ltd. uses a similar strategy to introduce foreign goods to Chinese shoppers through it’s payments service."
  • Domino’s joins chatbot movement, unveils Facebook Messenger ordering - Mobile Commerce Daily - "In an effort to cash in on the chatbot craze and expand its own digital ordering service, Domino’s is now allowing customers to order pizza through a Facebook Messenger chatbot."
  • Australia to Lead International Blockchain Standards Effort - Coindesk - "An Australian group has been selected by the International Organization of Standardization (ISO) to spearhead a technical committee developing standards for blockchain tech. Standards Australia announced its leadership role on the committee yesterday, revealing it will oversee members from 35 countries on the effort. The ISO, founded in the 1940s, is composed of representatives from more than 160 national standards-setting bodies."
  • Taking Proximity Tech Beyond Promotional Offers - Streetfight - "Another forward-thinking, and more complex, use of beacon technology is enabling mobile payments. When a shopper is using a mobile shopping app that includes the customer’s shopping list, beacons can automatically add the items to a customer’s digital cart as they pass and stop at the item’s in-store location. Shoppers can add additional items to their digital shopping cart by scanning or taking a photo of the item. When it’s time to exit the store, an in-store associate can easily verify the purchase, bag the items and print or email a receipt based on the customer’s preference."
  • Pushing the boundary of Enterprise Security with Verified Access - Google for Work Official Blog - "With security breaches that pose threats to businesses and their customers on the rise, CIOs are demanding more from their vendors when it comes to the security of their systems and devices. Advanced security is a mainstay of every Chrome device, regardless of price or type, and today we’re taking the next major step in bringing greater security to the enterprise with Verified Access for Chrome OS devices."

ON THE WIRES

  • UPDATE: Walmart Canada Statement Regarding Visa Credit Card Purchases - "Walmart Canada began informing customers this morning that we will stop accepting Visa credit cards at our 16 stores in the province of Manitoba beginning October 24, 2016. On July 18, 2016, Walmart Canada stopped accepting Visa credit cards in Thunder Bay."
  • The Bancorp Implements Cost Reduction Plan to Reduce Expenses and Improve Efficiencies - "The Bancorp, Inc. (NASDAQ: TBBK) today began the implementation of a board-approved cost reduction plan designed to streamline its businesses and corporate functions and better position the organization for the future. The first phase of the plan entailed a company-wide workforce reduction. The second phase will entail a close examination and identification of potential cost saving opportunities within the company’s supply chain network."
  • Kazkommertsbank and Diners Club International Launch Franchise Activity in Kazakhstan - "Diners Club International Ltd., as part of Discover Global Network, and JSC Kazkommertsbank, one of the largest acquirers and credit card issuers in Kazakhstan, will commence Diners Club card business operations in Kazakhstan."
  • Conformance Technologies to be Honored by PCI Security Standards Council - "“Participating organizations are critical in our mission to educate, empower and protect the payment card marketplace,” said PCI Security Standards Council General Manager, Stephen Orfei. “As the PCI Council celebrates its 10 year anniversary, we are appreciative of the continued involvement of Conformance Technologies and the commitment they have demonstrated to payment security since the Council’s inception,” adds Orfei. “We look forward to continuing this collaboration in the decade ahead.”"

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!