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July 01, 2016

Headline News from PaymentsNews.com - July 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

  • Brexit Jobs Threat At Credit Card Giant Visa - Sky News - "Hundreds of British-based jobs at the credit card giant Visa could be forced to relocate to the Continent in the wake of last week's EU referendum. Sky News has learnt that an agreement in the recent £17.5bn takeover of Visa's European operations by its American sister company included a stipulation that data from Visa card transactions should not leave Europe."
  • Barclays banks on agile and DevOps to tackle competitive threats in fintech - Computerworld - "Barclays Bank opens up about how increasing competition in the financial services sector has fuelled its 18-month, company-wide campaign to increase its use of agile and DevOps methodologies."
  • SMS Fraud Notification - FIS Blog - "The number of wrongfully rejected payments, or false positives, is growing, in part due to advanced fraud techniques and the increasingly technically advanced fraudsters. Inevitably, unrecognized fraud schemes increase the number of legitimate purchases being flagged as potentially suspect. This results in more transactions being incorrectly blocked at the point of sale (POS)."
  • Ben Milne And Real-Time Payments | Pensive (Podcast) - Medium - "Ben Milne is the founder and CEO of Dwolla, a payments startup building the ideal way to move money, as quickly and safely as possible. Under Ben, the Des Moines-based company has raised over $32 million from investors, like Andreessen Horowitz and Union Square Ventures, and has been recognized by Fast Company as one of the world’s “50 Most Innovative Companies of 2014”"
  • SWIFT and The DAO — A Financial Security Crisis? - Medium - "Cyber-security fears keeping financial bigwigs awake at night, especially after the $81m cyber-heist against SWIFT, proponents of distributed ledger technology (DLT) have touted its potential for near-unbreakable network security. But the draining of $50m from the Ethereum-powered DAO suggests both industries have some way to go."

ON THE WIRES

  • CREALOGIX partners with Entersekt - "Entersekt, a world leader in transaction authentication and app security software, today announced a strategic alliance with CREALOGIX, a provider of leading-edge business applications to the financial industry. As the online and mobile channels continue to claim a greater share of banking and payments in the European market, financial services companies are looking for convenient, safe methods to authenticate transactions. With this partnership, CREALOGIX is able to offer mobile push-based authentication solutions to its customers in order to protect these channels."
  • Kreditech launches Online Point-Of-Sales Financing: Beta Phase Integration with Naspers’ E-Payments Division - "The new integration allows customers to instantly finance their online purchases at charges comparable to local banks. Loan amounts are granted at up to EUR 5,000 and for a duration of up to 36 months. The process is fully paperless and is based on Kreditech’s innovative scoring technology combining it with state of the art KYC. Its user experience and user interface focus on the highest convenience for the customer."
  • Index Secures $19M Series B Funding Led by General Catalyst Partners to Bring the Advantages of Ecommerce In-Store - "Index, a leading retail software company that brings measurement and personalization to the offline world, announced today that it has raised $19 million in Series B funding led by General Catalyst, along with Datalogix founder Rob Gierkink. The new capital will be used to accelerate Index's deployment to grocery, apparel and quick-service retail environments; reach new customers across the U.S.; and grow its engineering, product and business teams."
  • Over 2000 Overseas Educational Institutions Accept UnionPay Cards for Tuition Payment - "On July 1st, UnionPay International announced that now over 2,000 educational institutions overseas accept UnionPay cards for tuition payment, covering well-known schools in popular destinations, including US, Canada, Australia, UK, New Zealand and Singapore. According to public data, the number of Chinese students who study abroad has exceeded 500,000 in 2015, with a year-on-year growth of about 14%. China is now the largest source country of international students for the US, the UK, Canada, and Australia. In this context, UnionPay International keeps improving its payment service for these students."

GLENBROOK PAYMENTS EDUCATION EVENTS

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

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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!

June 30, 2016

Headline News from PaymentsNews.com - June 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

ON THE WIRES

  • Retailers Applaud Circuit Court Decision Rejecting Visa/MasterCard Settlement - "RILA enthusiastically welcomes the circuit court's decision to throw out this harmful settlement," said Deborah White, executive vice president and general counsel. "Quite simply, the settlement orchestrated by the card networks and banks would have undermined merchants' legal rights forever and would have allowed Visa and MasterCard to impose higher and higher swipe fees with impunity. Today's decision is a victory for all merchants and consumers."
  • IBM and Crédit Mutuel Arkéa Pioneer the Use of Blockchain to Manage Customer Identity and Improve Customer Satisfaction - "Blockchain is a transformative agent in our operational application, as proven by this project -- the first of its kind in France. This pilot offers a complete view of customers' documents across our distributed network," said Frédéric Laurent, COO Innovation & Operations, Crédit Mutuel Arkéa. "The project helped us to understand and master blockchain for other client uses. Now, we are ready to incorporate this technology in our ecosystem."
  • Number of debit cards reaches 100 million for first time - Richard Koch, Head of Policy at The UK Cards Association, said: “Since they were first launched in the UK in June 1987, debit cards have become a prime feature in the nation’s wallets. Now, almost 30 years later, more than half of all retail sales in the UK are made using a debit card. More recently, it has been the growth of contactless, as well as the increasing use of debit cards for online shopping, that has been driving the changes.”
  • Danish local and regional banks launch a mobile wallet powered by Nets - "We are excited to be the first in Denmark to announce our plans to deliver bank-issued mobile wallets from our members, providing a mobile payment solution that delivers real payment convenience to our customers. End users will be able to pay just by 'tapping' their phone at the contactless point-of-sale," comments Søren Nicolaisen, Managing Director, Danish Regional Bankers Association.
  • J.P. Morgan Announces In-Residence Program for Fintech Startups - “In-Residence presents a unique opportunity for talented, ambitious startups to be truly supported by J.P. Morgan’s global resources,” said Sanoke Viswanathan, Chief Administrative Officer of J.P. Morgan’s Corporate & Investment Bank. “By giving them unparalleled access to J.P. Morgan’s people and network, we hope to enhance their ability to create technology-led solutions that can be put into practical use for our industry.”
  • MGT Announces Initial Phase of Multi PetaHash Bitcoin and Blockchain Project - "The current pricing environment of bitcoin and other digital assets coupled with the release of new 16 nanometer ASIC chips provides a significant opportunity to generate excellent profit margins. "

GLENBROOK PAYMENTS EDUCATION EVENTS

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

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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!

June 29, 2016

Headline News from PaymentsNews.com - June 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

ON THE WIRES

  • MasterCard to Simplify E-Commerce for Microsoft Dynamics Customers around the Globe - “Businesses need to be able to sell to their customers wherever they are without headache or hassle,” says Deborah Barta, Simplify Commerce global lead, MasterCard. “We want to make life easier for businesses as they grow, and we look forward to working with Microsoft to bring safe, simple and secure electronic payments to more businesses around the world.”
  • First Data and Silicon Valley Bank Expand Strategic Partnership - “With the power of First Data’s technology combined with our broad relationships across the innovation ecosystem, we help increase our clients’ probability of success while making payment issuance and acceptance easier and more effective,” said Eduardo Vergara, Head of Payment Services, Silicon Valley Bank. “Technology companies tend to expand into many markets earlier than companies in other industries, and require services that can scale easily and globally. Together with First Data, we are able to deliver payment solutions that will truly help our clients grow.”
  • Synchrony Financial Invests in flexReceipts, Inc. - Neeraj Mehta, Executive Vice President, Business Strategy and Development, at Synchrony Financial said: “We are pleased to be a strategic investor in flexReceipts. Synchrony and flexReceipts share a common principle of helping retailers enhance customer loyalty and deliver a frictionless digital customer experience. flexReceipts uses cutting-edge technology in a way that is aligned with our vision for retail innovation..."
  • Consumers Now Can View Credit Card Data alongside Checking and Savings from Their Online and Mobile Banking Solutions - "Digital Insight and PSCU’s platforms integrate APIs, which allow credit card account and transaction data to flow seamlessly between the two platforms in real time. Digital Insight uses PSCU's Data eXchange middleware for real-time integration. Over 120 PSCU Owner credit unions have leveraged Data eXchange’s open architecture to provide the functionality and the enhanced service experience that members are demanding."
  • Definitive Internet of Things and NFC White Paper Published by NFC Forum - "The NFC Forum announced today the publication of a definitive white paper focused on the Internet of Things (IoT) and Near Field Communication (NFC) in the smart home. Titled ″Simplifying IoT: Connecting, Commissioning, and Controlling with Near Field Communication – NFC Makes the Smart Home a Reality,″ the white paper outlines the future of IoT devices in the smart home and how NFC will help developers and manufacturers bring the benefits of IoT to where we live, work, and play. It is available for download at no charge."
  • One in Three American Households Are Stuck in a Relationship with a Financial Services Provider They Don’t Trust - “The fact that so many consumers are working with a financial services institution they don’t trust has significant financial implications,” said Jeremy Bowler, senior vice president of Financial Services at Market Strategies. “It creates greater opportunity for disruptive change, and with financial technology solutions rapidly emerging, this is a pool of consumers who are ripe for the picking.”

GLENBROOK PAYMENTS EDUCATION EVENTS

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

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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!

June 28, 2016

Headline News from PaymentsNews.com - June 28, 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

  • Supreme Court to Hear Case on ATM Fees - Wall St. Journal - "The Supreme Court on Tuesday agreed to consider an appeal by Visa Inc., MasterCard Inc. and several leading banks that are challenging lawsuits alleging they conspired to set anticompetitive ATM fees."
  • Here’s How Citigroup Is Embracing the ‘Fintech’ Revolution - Fortune - "The mega-bank needs to counter a new wave of financial technology startups."
  • OpenTable rolls out in-app virtual tab, eliminating on-the-spot mobile payments Mobile Commerce Daily - “With Tab, paying for a meal is easier than ever – you no longer have to touch your wallet or your phone,” said Tomer Molovinsky, product marketing, payments and marketplace innovation at OpenTable.
  • Online shopping forces shift in inventory strategies - Wall St. Journal - "Online shopping “has forced the industry to rethink not only the math and science behind the inventory pool, but also the strategy,” said Scott Fenwick, a senior director at Manhattan Associates Inc., which makes supply-chain software."
  • LendingClub to Cut 12% of Workforce as Loan Volumes Fall - Wall St. Journal - "LendingClub Corp. said Tuesday that it would eliminate about 12% of its workforce, as loan volumes has plummeted in the second quarter following the troubled fintech company’s disclosure that it had made improper loans in order to boost its numbers."
  • Singapore first in Asia to get Android Pay - Channel NewsAsia - "At launch, Android Pay will work with MasterCard and Visa cards from DBS Bank, OCBC Bank, POSB, Standard Chartered Bank and UOB, and there is no limit as to how many cards can be added by the consumer, Google said."
  • Brexit Jobs Threat At Credit Card Giant Visa - Sky News - "No decisions about relocating jobs has been taken and is unlikely to be until the detail of Britain's future trading arrangements with the EU are close to being finalised."

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 - 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.

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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!

June 27, 2016

Headline News from PaymentsNews.com - June 27, 2016

Headline News is brought to you by RS Software. To learn more about why RS Software is the choice for leading payments companies around the world, click here!

ON THE WEB

ON THE WIRES

  • MasterCard Commits to the Inclusion of 40 Million Micro and Small Merchants - “Real financial inclusion happens when people can use their new financial accounts to do what many of us take for granted,” said Ajay Banga, president and CEO of MasterCard. “Helping micro and small merchants connect to electronic payments will accelerate adoption and usage of new financial tools for the unbanked and will have a true impact on people’s daily lives.”
  • Wells Fargo to Offer Real-Time P2P Payments to 17 Million Mobile Customers - "Beginning August 1, Wells Fargo’s service will allow its customers to send funds in real-time at no cost to any customer of a bank that participates in the real-time service, which operates on Early Warning’s clearXchange™ network. Wells Fargo customers can already receive real-time payments at no cost from customers at any bank participating in the network."
  • New FIDO Certified Bluetooth Solution for Secure Mobile Internet Usage - " Infineon Technologies AG today announced the first FIDO-certified Bluetooth low energy (BLE) reference design for wireless authentication tokens. By using such a token in addition to their password, consumers can conveniently and securely authenticate their online activities on mobile devices."

GLENBROOK PAYMENTS EDUCATION EVENTS

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

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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!

June 24, 2016

Headline News from PaymentsNews.com - June 24, 2016

Headline News is brought to you by RS Software. To learn more about why RS Software is the choice for leading payments companies around the world, click here!

ON THE WEB

  • Brexit: Possible Impacts on UK Consumer Payments - PSE Consulting - "Following Britain’s momentous decision to leave the European Union our thoughts must inevitably turn to the potential impact on UK consumer payments. In this blog we provide some early thoughts on how the UK market may be affected, beginning with recent European regulation which will have to be untangled."
  • Costco’s Transition to Visa Cards Riddled With Problems - New York Times - "A transition that executives promised would be seamless has turned into a customer service fiasco."
  • The DAO Shows Blockchain Can't Code Away Social Problems - CoinDesk - "Everyone loved The DAO. They couldn’t say enough about how it was going to change the future for the better. And now, after the code-based crowdfunding platform was exploited with a perpetrator taking 3.6 million ether (valued at $60m at the time), The DAO has become the red-headed stepchild of the cryptocurrency community."
  • Bank Regulators Aim at Online Small Business Lending - Wall St. Journal - "Leading marketplace lenders originated about $1.9 billion in small-business loans last year..."
  • 31 Chinese Firms Form Financial Blockchain Consortium - CoinDesk - "Chinese financial services firm Ping An Bank and a subsidiary of QQ instant message app maker Tencent are among more than 30 technology and financial firms in China that have formed a new consortium dedicated to blockchain tech."

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 - 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.

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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!

June 23, 2016

Headline News from PaymentsNews.com - June 23, 2016

Headline News is brought to you by RS Software. To learn more about why RS Software is the choice for leading payments companies around the world, click here!

ON THE WEB

  • RBI publishes “Payment and Settlement Systems in India: Vision-2018” - Reserve Bank of India - "The Reserve Bank of India has today placed on its website the “Payment and Settlement Systems in India: Vision-2018”. The Vision-2018 aims at building best of class payment and settlement systems for a ‘less-cash’ India. The broad contours of Vision-2018 revolve around 5 Cs – coverage, convenience, confidence, convergence and cost. To achieve these, Vision-2018 will focus on four strategic initiatives such as responsive regulation, robust infrastructure, effective supervision and customer centricity."
  • a16z Podcast: Fintech Revolution or Evolution? - A16Z - "The problem, observes Warzel — who is joined by a16z Partners Alex Rampell and Angela Strange in this episode of the a16z Podcast on all things fintech, payments, wallets, and more — is that the customers/consumers aren’t at the center of any of this."
  • Circle takes $60M to grow its social payments biz globally, as it steps into China - TechCrunch - "The round is led by existing investor and Beijing based VC IDG Capital Partners, along with Breyer Capital, General Catalyst Partners and what it dubs “a powerful syndicate of major strategic partners” in China, including Baidu, CICC Alpha, China Everbright, Wanxiang and CreditEase."
  • MasterCard plans to invest $800 m in India over the next 4 years - Hindu Business Line - "These investments will flow into processing, mobile technology and solutions and data analytics, said Porush Singh, Country Head for MasterCard in India."
  • Colu Raises $9.6 Million to Promote Blockchain-Based Local Currencies - CoinDesk - "The Series A round, backed by Aleph, Spark Capital, Digital Currency Group and former Thomson Reuters CEO Tom Glocer, follows a $2.5m seed round in early 2015..."
  • Toyota Financial Services Joins R3 Consortium - "Toyota Financial Services, the financial services subsidiary of the Toyota Motor Corporation, has joined banking consortium R3CEV, making it the first organization affiliated with a major automaker to take part in the cross-industry effort."
  • Number of EMV Chip Payment Cards in Global Circulation Increases to 4.8 Billion" - EMVco - "Global technical body EMVCo today reports sustained growth in the worldwide adoption of EMV chip technology. Official figures of aggregated data show that by the end of 2015, the number of EMV payment cards in global circulation increased, year on year, by 1.4 billion to 4.8 billion."

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 - 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.

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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!