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July 25, 2017

Headline News from PaymentsNews.com - July 25, 2017

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

ON THE WEB

  • Carrier billing for Apple services spreads to Denmark, Hong Kong, Sweden - AppleInsider - "Apple has added three more countries to the list of markets where carrier billing is enabled, with users in Denmark, Hong Kong, and Sweden now able to pay for Apple Music, iTunes, and other Apple services through their phone bill for a number of carriers instead of using a credit or debit card. "
  • Amazon Could Bigfoot Rival Payment Services With a PayPal Clone - Bloomberg - "At a minimum, Visa and Mastercard face long-term risks like pricing pressure and “brand obfuscation” as Seattle-based Amazon’s influence continues to increase. PayPal’s available market has already shrunk as Amazon, which doesn’t offer a PayPal checkout button, has accounted for a big chunk of the growth in U.S. e-commerce."
  • Recurly Integrates Accounting Platform To Streamline Subscription Commerce - Retail Touch Points - "Recurly, Inc., a subscription management platform, has integrated with cloud-based accounting platform Xero to streamline financial operations and provide customers with a complete view of recurring revenue and transactions."
  • FIDO Tightens Authentication's Leash - FRB Atlanta Take on Payments blog - "To expand these strong cryptographic authentication capabilities to second-factor use cases on the web, FIDO established a second set of specifications known as FIDO U2F, or Universal Second Factor protocol. With this protocol, the user inserts a certified U2F device, also known as a security key, into a device's USB port or uses the device's Bluetooth or near-field communication features. The application running in a FIDO-compliant web browser first challenges the user for a password and then authenticates the user with the cryptographic private key on the U2F device."
  • PayPal to let Citibank and Chase customers pay with loyalty points - NFC World - "Citibank and JPMorgan Chase customers across the US will soon be able to make online purchases using loyalty points as currency at “millions of merchants” that accept PayPal. Citi is scheduled to launch the feature in 2018 while PayPal’s deal with Chase will also enable customers to make NFC mobile payments in physical stores."
  • TD Canada for iOS Now Lets You Easily Add TD Cards to Apple Pay - iPhone in Canada - "The TD Canada app automatically lists your eligible TD debit and credit cards that support Apple Pay. Adding your card is simple as all you need to do is verify the card security code of each card as a verification step:"
  • Key Updates to NIST’s Digital Identity Guidelines: SP 800-63-3 - Duo Security blog - "Now, NIST has integrated those recommendations and more into a final suite of documents known as the Digital Identity Guidelines, widely referenced and used by a number of industries as a standard for how to properly secure digital identities - including government entities, such as federal agencies and contractors that provide services to the federal sector."
  • Wearable ‘Teng’ generators harvest energy from body movement to charge mobiles - NFC World - "“When someone wears a Teng while walking or running, it harvests the mechanical energy from the movement and converts it into electricity. This can then be stored in batteries or supercapacitors and used to charge mobile phones or power medical devices such as Fitbits.”"

ON THE WIRES

  • Wearable Tech: A Growing Payment Opportunity - Latest SPA Paper - July 2017 - Smart Payments Association - "the Smart Payment Association (SPA), the trade body of the smart payments industry, today launches its latest insight paper exploring the potential of payment in driving the global wearable tech market. Payment ‘on the go’ looks like being the transformational application that captures the public imagination and drives the mass take-up of wearable technologies. According to Gartner, half the consumers in major markets – including North America, Japan and Western Europe – will be using a combination of smartphones and wearables to make payments by 2018."
  • TNS Survey Reveals Major Payment Data Security Concerns among Consumers - "More than two thirds are concerned about the security of their payment card data and 38% feel their private credit or debit card data has been put at risk by a data breach, irrelevant of whether they subsequently were a victim of fraud."
  • Juniper Research: Online Payment Fraud Detection Spend to Reach $9.3 Billion by 2022, Driven by IoT and 3-D Secure - "A new study from Juniper Research has found that spending on online FDP (fraud detection and prevention) solutions is set to rise to $9.3 billion by 2022, an increase of 22% over this year’s anticipated spend. The research found that perceptions of high software costs alongside relatively low awareness of effective solutions in the eCommerce space were slowing service uptake. Nevertheless, it predicted that several factors would prove instrumental in driving the market forward."
  • Accenture Security Report Identifies Top Cyber Threats of 2017 - "With recent large-scale cyber attacks signaling a growing front in destructive threats and business impact, a new midyear report from iDefense, part of Accenture Security (NYSE:ACN), reveals how threat actors are continuing to evolve their ability to avoid detection. Based on in-depth analysis, the report anticipates a growth in the number of threat actors who are rapidly expanding their capabilities due to factors such as the proliferation of affordable, customizable and accessible tools and exploits."

GLENBROOK PAYMENTS EDUCATION EVENTS

Understanding the accelerating pace of change in the payments industry has never been more important. Get the knowledge you need fast at one of our two day Payments Boot Camps. Our one day Insight Workshops follow each Boot Camp and are deep dives into key topics. Take a discount for attending all three days. Here's our fall schedule:

  • Payments Boot Camp, October 3-4, 2017, San Jose, CA, Logistics
  • Payments Boot Camp, October 17-18, 2017, NYC, NY, Logistics
  • Payments Boot Camp, December 5-6, 2017, Palo Alto, CA, Logistics
  • Global Payments, October 5, 2017, San Jose, CA, Logistics
  • Digital Payments, October 19, 2017, NYC, NY, Logistics
  • Innovation in Payments, December 7, 2017, Palo Alto, CA, Logistics
  • For more, click here. We hope to see you soon!

    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!

    July 24, 2017

    Headline News from PaymentsNews.com - July 24, 2017

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

    ON THE WEB

    • Episode 55 – 3D Secure and the IoT – Cardinal Commerce - Payments on Fire podcast from Glenbrook - "EMVCo tokenization, now expressed in services like Apple Pay and Android Pay, is a leading tool in the payments security kit. 3D Secure. 2.0 services, when used in combination with other security layers, should have a role in IoT payments security, too. Join Tim Sherwin, Co-Founder and CEO of Visa’s Cardinal Commerce unit and Glenbrook’s George Peabody in this deep dive into 3DS 2.0, where it works, who pays for it, and its expected role in the IoT."
    • Western Union Opens New Front in Cash-Transfer War: Gas Stations - Wall Street Journal (Paywall) - "A new partnership with BP in Australia will allow customers at BP gas stations to use Western Union to send money overseas, with an attendant completing the transaction. Western Union’s mobile app is already available around the clock in Australia for sending money using a credit card, but customers will now be able to set up a transaction using the app and then pay in cash at the gas stations."
    • Fintech startup Klarna taps Permira for around $250M at $2.5B valuation - TechCrunch - "Klarna, the Swedish startup that works with e-commerce businesses and retailers to provide financing and other payment services, today announced that it has picked up yet another large investment, its third inside of two months. Permira, the private equity firm and prolific late-stage tech investor, has taken a minimum 10 percent stake in the fintech business. Klarna and Permira are not confirming the exact amount getting invested, or the valuation. But TechCrunch understands that it is more than $225 million, and the FT is reporting a value of $250 million."
    • Amazon Bids for Indian Payments Business FreeCharge - Bloomberg - "Amazon is trying to buttress its digital payments operations as it takes on local rivals including Paytm E-commerce Pvt as well as Tiger Global Management-backed Flipkart Online Services Pvt. The U.S. company has entered its fifth year of operations in India as the country shapes up to become of the world’s largest online retail markets."
    • Bitcoin averts split as miners back new software upgrade - Reuters - "Bitcoin's miners have signaled their support for the so-called Bitcoin Improvement Proposal (BIP) 91, avoiding a split of bitcoin into two blockchains. The miners represent a network of computer operators who secure the blockchain or a public ledger of all bitcoin transactions BIP 91 is the first step toward a larger effort to upgrade bitcoin through a software called SegWit2x. On Friday, the support for BIP 91 reached nearly 100 percent, exceeding the required threshold of 80 percent, according to analysts and market participants."
    • Paysafe To Buy Merchants Choice, but Itself May Be Acquired by a Private-Equity Consortium - Digital Transactions News - "In a payments play on acquire and be acquired, Paysafe Group plc announced Friday that it has a deal to acquire Delta Card Services Inc., parent company of independent sales organization Merchants’ Choice Payment Solutions, for $470 million in cash. Separately, United Kingdom-based Paysafe also confirmed that it has received a preliminary, $3.7 billion buyout offer from affiliates of the private-equity firms Blackstone and CVC Capital Partners."
    • China embraces era of staff-free shopping (Paywall) - Financial Times - "Mr Chen said the rapid roll out of unmanned stores in China has been made possible by widespread use of mobile payments — 50 times more than the US last year — as well as government required “real name registration” for social media users — which helps prevent thefts while aiding the collection of valuable customer data. "
    • Chatbot Conversations to deliver $8 billion in Cost savings by 2022 - Juniper Research - "Chatbots are becoming increasingly influential in day to day life. These programs have been developed to aid in a range of industries, from simple banking transactions, to healthcare enquiries, and Juniper forecasts that chatbots will be responsible for cost savings of over $8 billion per annum by 2022, up from $20 million this year."

    ON THE WIRES

    • Fed sets 2020 goal for faster payment systems - "A Federal Reserve task force Friday called on the U.S. financial system to make faster payment solutions available to every consumer and business by 2020. The Federal Reserve Faster Payments Task Force issued a final report that recommended a framework for rules, standards and systems, and a streamlined, all-encompassing payment system that keeps pace with technological development. The report recommends that the Fed work with regulators to evaluate how laws will apply to emerging payment technologies, implement a faster payment settlement service and play an operational role in supporting the process in its entirety."
    • Western Union Unveils New Money Transfer Channel in Australia - "For the first time in Australia, Western Union services will be enabled through the mobile app in 302 BP stores nationwide (including 150 with digital kiosks), which will provide customers with a quick and convenient way to conduct international money transfers 24/7."

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments industry has never been more important. Get the knowledge you need fast at one of our two day Payments Boot Camps. Our one day Insight Workshops follow each Boot Camp and are deep dives into key topics. Take a discount for attending all three days. Here's our fall schedule:

  • Payments Boot Camp, October 3-4, 2017, San Jose, CA, Logistics
  • Payments Boot Camp, October 17-18, 2017, NYC, NY, Logistics
  • Payments Boot Camp, December 5-6, 2017, Palo Alto, CA, Logistics
  • Global Payments, October 5, 2017, San Jose, CA, Logistics
  • Digital Payments, October 19, 2017, NYC, NY, Logistics
  • Innovation in Payments, December 7, 2017, Palo Alto, CA, Logistics
  • For more, click here. We hope to see you soon!

    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!

    July 21, 2017

    Headline News from PaymentsNews.com - July 21, 2017

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

    ON THE WEB

    • Blackstone, CVC Join Payments-Sector Deal Frenzy With $3.8 Billion Paysafe Bid - Wall Street Journal (Paywall) - "Blackstone Group and CVC Capital Partners have teamed up on a $3.8 billion bid for U.K. online payments processor Paysafe Group, joining a wave of consolidation in the payments sector. The bid, if successful, comes as businesses and consumers are increasingly carrying out transactions online using smartphones and other mobile devices. The trend is expected to drive demand for the services of Paysafe and its competitors that can process online payments securely."
    • Merchants Network Connects U.S. SMBs With Alibaba Shoppers - Retail Touch Points - "To help U.S. small businesses connect with the millions of shoppers on Alibaba platforms, the Chinese e-Commerce giant has introduced Taobao Global U.S. Merchants Network. The Network is designed to offer a low-cost, low-risk alternative for U.S. businesses looking to enter the Chinese market and sell to a significantly larger audience. More than 300 U.S.-based merchants have joined the Network to-date."
    • Why You Should Look to China for the Future of Retail - Wall Street Journal (Paywall) - "Chinese companies have been busy weaving together the online and offline worlds, trying for an ever more seamless fit. Convenience stores that have no sales assistants or cashiers are popping up in big cities. E-commerce company Alibaba Group Holding and its rival JD.com have poured money into department stores and grocery chains."
    • Target is ending its Cartwheel Perks rewards program, promising something better - Yahoo! Finance - "Target, meanwhile, is planning to make other changes to its main app, like adding maps that show shoppers when they're close to deals in stores. Target is also rolling out a mobile payment option for its REDcard credit card holders. Loyalty programs, like Perks, have been one way for retailers to combat declining foot traffic at brick-and-mortar locations of late. The freebies serve as incentives to drive shoppers to stores, especially when purchases must be made at physical locations, not online, in order to earn rewards."
    • Alexa is coming to the Amazon app on Android, starting this week - TechCrunch - "This spring, Amazon introduced Alexa to a wider audience by making the virtual assistant a feature that could be accessed within the retailer’s main shopping app. However, that integration – which allows you to ask Alexa about news, weather, basic facts, or use the assistant’s add-on “skills,” among other things – was available only for iPhone users. This week, Alexa is arriving on Android, as well."

    ON THE WIRES

    • Global corporates urge banks to use SWIFT gpi - "These corporates state in their letter that SWIFT gpi addresses the pain points they currently experience when making cross-border payments: corporate treasurers and finance managers have little visibility of what happens to their cross-border payment instructions, not knowing when payments have been credited or what fees have been deducted. Equally, they do not know when or why a payment has been rejected and the investigation can be time-consuming and costly. It is also not always clear which party should initiate an investigation. This can cause problems with suppliers or end-customers as well as increasing financial risks resulting from payment delays or even fraudulent actions."
    • Subway® Partners with SiteZeus On Development Strategy - "The Subway® restaurant chain has partnered with Florida-based location intelligence leader SiteZeus® to augment its development strategy by adding data driven location intelligence with advanced geospatial technology and visualization. Combined with its own market data, Subway® is confident it will now have more thorough and accurate insights and suggestions for growth in every market."

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments industry has never been more important. Get the knowledge you need fast at one of our two day Payments Boot Camps. Our one day Insight Workshops follow each Boot Camp and are deep dives into key topics. Take a discount for attending all three days. Here's our fall schedule:

  • Payments Boot Camp, October 3-4, 2017, San Jose, CA, Logistics
  • Payments Boot Camp, October 17-18, 2017, NYC, NY, Logistics
  • Payments Boot Camp, December 5-6, 2017, Palo Alto, CA, Logistics
  • Global Payments, October 5, 2017, San Jose, CA, Logistics
  • Digital Payments, October 19, 2017, NYC, NY, Logistics
  • Innovation in Payments, December 7, 2017, Palo Alto, CA, Logistics
  • For more, click here. We hope to see you soon!

    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!

    July 20, 2017

    Headline News from PaymentsNews.com - July 20, 2017

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

    ON THE WEB

    • Ingenico Buys Swedish Rival in $1.7 Billion Payments Deal - Bloomberg - "Ingenico Group SA agreed to buy Swedish rival Bambora for 1.5 billion euros ($1.7 billion) in the latest deal to jolt the payments industry as the French company accelerates a shift away from hardware to gain scale in online transactions. "
    • New banking regulator defends agency effort to regulate fintech - Reuters - "The new head of a U.S. banking regulatory agency on Wednesday defended his predecessor's efforts to explore granting special federal charters to startup online lenders. The Office of the Comptroller of the Currency (OCC) has been facing pressure from state regulators ever since it announced last year that it would consider granting charters to so-called "fintech" lenders."
    • PayPal, J.P. Morgan Chase in Deal to Expand Mobile Payments - Wall Street Journal (Paywall) - "The latest agreement is expected to help solve a different problem for J.P. Morgan. Chase Pay is accepted as a payment method at big merchants such as Starbucks Corp. and Best Buy Co. but relatively few big e-commerce and technology businesses. As part of the new deal, PayPal is expected to add support for Chase Pay as a payment method for merchants who process payments through Braintree, a PayPal subsidiary that counts companies like Uber Technologies Inc. and Airbnb Inc."
    • $30 Million: Ether Reported Stolen Due to Parity Wallet Breach - Coindesk - "Smart contract coding company Parity has issued a security alert, warning of a vulnerability in version 1.5 or later of its wallet software. So far, 150,000 ethers, worth $30 million, have been reported by the company as stolen, data confirmed by Etherscan.io. As reported by the startup, the issue is the result of a bug in a specific multi-signature contract known as wallet.sol. Data suggests the issue was mitigated, however, as 377,000 ethers that were potentially vulnerable to the issue were recovered by white hat hackers."
    • Wells Fargo Wants Its ‘Control Tower’ to Manage Your Digital Financial Life - Fortune - "Akin to a Find My iPhone feature for financial data, Control Tower will allow Wells Fargo customers to track every place they've shared their payment information, whether it be via a device, mobile wallet, or online retailer—allowing them to track down an unwanted subscription."
    • India has four payments banks now. Here is how they differ - Live Mint - "This week, India’s fourth payments bank—Fino Payments Bank Ltd—started its operations. The first such bank to launch was Airtel Payments Bank Ltd, followed by India Post Payments Bank Ltd and Paytm Payments Bank Ltd. A payments bank is a differentiated bank. Customers can open a savings account in them with deposits of up to Rs1 lakh. However, these banks cannot lend money to their customers. Mint Money takes you through the products and services offered by these banks."
    • Capital One Brings ‘Humanity’ to Its Forthcoming Chatbot - Wall Street Journal CIO Journal - "The company deliberately made its chatbot gender-neutral and last year tapped a character development expert from The Walt Disney Co.’s Pixar Animation Studios to help give it a voice, said Ken Dodelin, vice president of digital product development for Capital One. It can also recognize the intent behind certain emojis."
    • Exclusive Q&A: What Will The Mall Of The Future Look Like? - Retail Touch Points - "The current pace of retail bankruptcies and store closures could lead to as many as 25% of the nation’s malls closing by 2022, according to a report from Credit Suisse. This percentage equates to roughly 275 mall closures over the next five years, suggesting that the mall model must change — and change fast."
    • 6 Ways to Use POS as a Competitive Differentiator - Hospitality Technology - "Once just a humble cash register, the point of sale has morphed into a strategic tool for hotels and restaurants. Not only do digital POS platforms help create a customer experience that emphasizes convenience and consistency, but the data they gather can help hospitality providers offer the personalized experiences that win consumers’ attention – and wallet share."
    • Feds have taken down two major dark web marketplaces - The Verge - "An international law enforcement effort has brought down two of the dark web’s largest marketplaces, AlphaBay and Hansa Market. According to a Europol announcement, AlphaBay hosted roughly $1 billion in transactions since its founding in 2014, primarily focused on drugs and fraudulent IDs. At the time of its takedown, it reached over 200,000 users and 40,000 vendors, with nearly $4 million in bitcoin stored in escrow wallets on the site."

    ON THE WIRES

    • Mobile Gaming Segments are the Most Lucrative in the Global Gaming Market - "A report by Newzoo on the Global Games Market, shows that 2.2 billion gamers across the globe are expected to generate $108.9 billion in game revenues in 2017. This represents an increase of $7.8 billion, or 7.8% from the year before. Digital game revenues will account for $94.4 billion or 87% of the global market. The report also indicates that Mobile is the most lucrative segment, with smartphone and tablet gaming growing rapidly or at 19% year on year to $46.1 billion and accounting for 42% of the market. In 2020, mobile gaming will represent just more than half of the total games market. Tapinator, Inc. (OTC: TAPM), Zynga Inc. (NASDAQ: ZNGA), Glu Mobile Inc. (NASDAQ: GLUU), Nintendo Co., Ltd. (OTC: NTDOY), Take-Two Interactive Software, Inc. (NASDAQ: TTWO) "
    • Mastercard Expands QR Payments Choice - "Beginning this month, the company will broaden its solutions to offer QR codes that can be scanned by either consumers or merchants under a common set of global specifications. Mastercard has worked with EMVCo and other industry players to create a new global QR standard. These standards ensure consistency in QR codes both generated and captured on a consumer’s mobile phone. “Today’s news builds on the momentum of our QR work in India and Africa,” said Ajay Bhalla, president of global enterprise risk and security, Mastercard. “We look forward to the adoption of the EMVCo global QR standards. In the meantime, we’ll continue to work with our customers and partners to make every device a secure way to pay and be paid.” "
    • CPI Card Group Creates Contactless Clubcard for Supermarket Tesco - "CPI Card Group and long-standing partner supermarket Tesco, have worked in collaboration to relaunch the Tesco Clubcard across the UK. As part of CPI Card Group’s innovative approach to card technology it worked to configure and create a state-of-the-art, contactless loyalty card for Tesco that will redefine the loyalty market and revolutionize the way the consumer interacts, with a tap or hover at the till points. "
    • Citi and PayPal Expand Partnership to Deliver Enhanced Payments Experience - "Today, Citi and PayPal announced an expansion of their strategic agreement that will broaden consumer payment choices by enabling eligible Citi cardmembers to use their ThankYou Points to pay for all or part of purchases when shopping online at millions of merchants that accept PayPal in the United States. This functionality is slated to launch in 2018."
    • Discover Offers Free Service to Alert Cardmembers If Their Social Security Numbers Are Found on Risky Websites - "Starting today, Discover is offering a free service that monitors risky websites known to illegally sell or trade personal data and alerts Discover cardmembers if their Social Security numbers are found. In addition, Discover will alert cardmembers if any new credit cards, mortgages, car loans or other accounts are opened on their Experian® credit report. These new alerts are aimed at helping Discover cardmembers protect themselves from identity theft or fraud."
    • American Express OPEN Extends Small Business Co-Brand Credit Card Partnership with Lowe’s - "American Express OPEN announced an extension of the Lowe’s Business Rewards Card program which will continue to enable small business Card Members to earn rich rewards and get 5% off at Lowe’s every day when they use the Card on eligible purchases. The Card is designed for small businesses and built to help home improvement contractors, building and construction companies, property management companies and others optimize their business spending."
    • The MileagePlus GO Visa Prepaid Card is Now Available - "Prepaid card provider Netspend, a TSYS Company (NYSE: TSS), and United Airlines (NYSE: UAL) today announced the MileagePlus GO Visa Prepaid Card is now available for order online at www.MileagePlusGO.com. Cardholders will be able to earn one United MileagePlus award mile for every $1 spent on qualifying signature purchases, and award miles can be redeemed through United’s MileagePlus loyalty program, consistently voted the world’s Best Frequent Flyer Program by Global Traveler magazine."
    • Millennial Spending Habits Differ From Older Generations - "Two areas that millennials are cutting back spending: television and travel. Average millennial spending in both of these areas is significantly lower than those who are older. Millennials report spending an average of $1,943 per year on trips or vacations, while older Americans are shelling out $2,665. For television services like cable, satellite and steaming/subscription, millennials are spending just $80 per month, compared to $114 for those 37 and up."

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments industry has never been more important. Get the knowledge you need fast at one of our two day Payments Boot Camps. Our one day Insight Workshops follow each Boot Camp and are deep dives into key topics. Take a discount for attending all three days. Here's our fall schedule:

  • Payments Boot Camp, October 3-4, 2017, San Jose, CA, Logistics
  • Payments Boot Camp, October 17-18, 2017, NYC, NY, Logistics
  • Payments Boot Camp, December 5-6, 2017, Palo Alto, CA, Logistics
  • Global Payments, October 5, 2017, San Jose, CA, Logistics
  • Digital Payments, October 19, 2017, NYC, NY, Logistics
  • Innovation in Payments, December 7, 2017, Palo Alto, CA, Logistics
  • For more, click here. We hope to see you soon!

    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!

    July 19, 2017

    Headline News from PaymentsNews.com - July 19, 2017

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

    ON THE WEB

    • Is Amazon Best-in-Class for Online Payments? - Payments Views by Glenbrook’s Russ Jones - "Amazon.com is in the news all the time with its continued expansion of markets and fulfillment centers, its focus on innovation and long term R&D, and, recently, some very non-intuitive acquisitions. It’s easy to get swept up in their story. But when a company gets as big and powerful as Amazon has become, it’s helpful to step back and see what lessons can be learned. And, of course, we like to do that from a payments perspective."
    • Amazon Pay Places lets you pay for real-world shopping using your Amazon info, starting with TGI Friday’s orders - TechCrunch - "Amazon is today introducing a new feature called Amazon Pay Places, that allows customers to pay for in-store and order ahead shopping experiences using their Amazon app. That is, instead of using cash, check, credit or debit while shopping out in the real world, you can just use your Amazon account information. The first implementation of Pay Places involves a partnership with the TGI Friday’s restaurant chain, but we understand this feature will be supported in more in-store and physical world applications in the future."
    • China's Cashless Revolution - Bloomberg - "Around the developing world, QR codes are beating out Apple Pay and other brand-name payment services for consumers and businesses keen to go cashless. China offers a useful model for that transformation -- and a standard that others may soon be emulating."
    • Bank of England comes good on promise to provide non-banks with direct access to RTGS - Finextra - "The Bank of England has extended direct access to RTGS accounts to non-bank payment service providers as part of a wide-ranging effort to inject more competition and innovation into the UK's payments systems."
    • Urban FT buys fintech company iParse - American Banker - "New York-based Urban FT, which targets mostly smaller banks and credit unions, will adopt iParse plug-in technology that leverages a bank's existing application programming interfaces to add mobile banking and payments capabilities, which is a faster approach than Urban FT’s previous direct integrations, said Richard Steggall, Urban FT’s chief executive."
    • Firms Slow to Address Connected-Device Risks: Survey - Wall Street Journal CIO Journal - "PwC researchers found that only 35% of roughly 9,700 companies polled said they had an IoT security strategy in place. Twenty-eight percent said they were currently implementing a security strategy."
    • Ethereum Co-Founder Says Crypto Coin Market Is a Time-Bomb - Bloomberg - "Initial coin offerings, a means of crowdfunding for blockchain-technology companies, have caught so much attention that even the co-founder of the ethereum network, where many of these digital coins are built, says it’s time for things to cool down in a big way."

    ON THE WIRES

    • Visa and PayPal Extend Partnership to Europe - "PayPal - under its banking license in Europe[1] - is joining the Visa network of client financial institutions and will be able to offer Visa accounts in Europe, enabling consumers and businesses to use their PayPal funds to spend wherever Visa is accepted worldwide."
    • TGI Fridays becomes first UK bar to implement Bar Tab from Mastercard and Oracle - "Customers can easily manage their tab through a designated four-digit PIN that connects orders in the restaurant management software to the Qkr! payment account. This means customers can easily manage the rounds that they are in with friends and split the bill. There is no need to hand over a payment card to bar staff, and no need to use a card machine."
    • Cumberland Farms Announces $75 Million In Customer Savings With SmartPay Check-Link(SM) - "Cumberland Farms, a leading gasoline and convenience retailer, today announced that its customers have saved a total of $75 Million through its SmartPay program since its launch in January 2013. Available as both a payment card and a mobile payment app, the program is free to join and free to use. SmartPay Check-Link users automatically save 10 cents on every gallon of gas, every day, when they fill up at any Cumberland Farms gas retail location throughout the Northeast and Florida."
    • Bank of America Unveils New Mobile Capability to Apply for Business Advantage Term Loans and Credit Lines - "Bank of America today announced enhancements to its mobile app experience that add on-the-go convenience to small business banking and lending. With the suite of updates, Bank of America small business clients can now apply for a Business Advantage Term Loan or Business Advantage Credit Line from any Bank of America digital platform - including the Bank of America mobile banking app, and bankofamerica.com."
    • Enterprise Ethereum Alliance Becomes World’s Largest Open-source Blockchain Initiative - "Enterprise Ethereum Alliance (EEA) announced today that 34 organizations have joined the blockchain industry group since late May. This brings total membership to over 150 organizations added since the group’s launch in February of this year. EEA is now the world’s largest open-source blockchain initiative. EEA’s newest members represent a wide variety of business sectors, including technology, banking, government, healthcare, energy, pharmaceuticals, marketing, and insurance, as well as a number of fast-growing Ethereum startups."

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments industry has never been more important. Get the knowledge you need fast at one of our two day Payments Boot Camps. Our one day Insight Workshops follow each Boot Camp and are deep dives into key topics. Take a discount for attending all three days. Here's our fall schedule:

  • Payments Boot Camp, October 3-4, 2017, San Jose, CA, Logistics
  • Payments Boot Camp, October 17-18, 2017, NYC, NY, Logistics
  • Payments Boot Camp, December 5-6, 2017, Palo Alto, CA, Logistics
  • Global Payments, October 5, 2017, San Jose, CA, Logistics
  • Digital Payments, October 19, 2017, NYC, NY, Logistics
  • Innovation in Payments, December 7, 2017, Palo Alto, CA, Logistics
  • For more, click here. We hope to see you soon!

    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!

    July 18, 2017

    Headline News from PaymentsNews.com - July 18, 2017

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

    ON THE WEB

    • P2P Payment Transactions to Exceed $120 Billion This Year - eMarketer - "The use of mobile peer-to-peer (P2P) payment apps such as Venmo in the US will continue to grow by double digits through 2021, according to eMarketer’s latest mobile banking and payments forecast."
    • Instant bank transfers are coming to PayPal and Venmo - TechCrunch - "PayPal announced this morning a plan to speed up money transfers between its service, Venmo and users’ bank accounts for those with supported MasterCard and Visa debit cards. This new “instant transfers” service will be available at a rate of $0.25 per transaction, and will deliver funds in a matter of minutes, instead of the day or so it typically takes when using PayPal or Venmo."
    • Mastercard to buy AI outfit Brighterion - Finextra - "Mastercard is looking to boost its fraud detection capabilities through the acquisition of artificial intelligence specialist Brighterion. Financial terms of the deal were not disclosed."
    • Payments Through Voice-Controlled Devices Begin To Attract Consumers, Survey Finds - Digital Transactions News - "Some 19% of consumers participating in a recent survey said they have made a product purchase through Amazon.com Inc.’s Echo or a similar voice-controlled device within the past year."
    • QR code takes a baby step in world conquest as group adopts global cashless payment format - South China Morning Post - "EMVCo, a consortium for smart payments that’s collectively owned by American Express, Visa, Mastercard and UnionPay, on Saturday published the first version of QR code specifications, or the industry standard for the payment format, a year after UnionPay proposed a safe and open global system."
    • Mastercard And Visa Lose Share To UnionPay In Global Cards Market - Payments Afrika - "According to RBR’s Global Payment Cards Data and Forecasts to 2022 study, the continued rapid expansion of the Chinese cards market has helped UnionPay to increase its share of cards to 43% in 2016, and extend its lead over Visa and Mastercard. UnionPay has been the largest scheme globally for card numbers since 2010 and, by the end of 2016, there were more than six billion UnionPay-branded cards in circulation."
    • Apple unveils promotional campaign to win Chinese consumers to Apple Pay - South China Morning Post - "Between July 18 and 24, consumers using Apple Pay to make payments in designated online and offline merchants in mainland China that display the logo of UnionPay’s quick pass facility will receive discounts of up to 50 per cent and as much as 50 times the usual amounts of reward points for credit cards, according to Apple’s official Chinese website."
    • UK’s digital-only Starling Bank adds Apple Pay support - TechCrunch - "Digital-only UK “challenger” bank, Starling Bank, has added support for Apple Pay — meaning its customers can now add their Starling debit card to their Apple Wallet and make contactless payments drawing from funds in their Starling account via their Apple devices."
    • Dubai’s Nol cards can now be used for payment at 1,000 retail units - Gulf Business - "Dubai’s Roads and Transport Authority (RTA) has announced that Nol cards can now be used to make payments at more than 1,000 selected retail outlets across in the emirate. Nol cards are used to pay for public transport systems such as the Metro, Tram, buses and water taxis. It can also be used to pay for parking at public metres."
    • Jumio adds eyeball tracking to Netverify - Finextra - "When verifying an identity, in addition to conducting a “liveness” check to ensure a real person is holding the device, Jumio will require users to follow an icon on the mobile device screen with their eyes as it moves in a random pattern. This technology will be available to all Netverify users, including banking institutions, sharing economy providers, online gaming and travel companies."
    • Next-Gen Subway Restaurants offer Apple Pay at Self-Serve Kiosks along with USB Charging & Complimentary Wi-Fi - Patently Apple - "This morning Subway announced their new restaurant design and customer experience. Trevor Haynes, Vice President of Operations at Subway stated for the occasion that "We've created a modern design that gives our guests choices – from how they order, to how they pick up their food, to how they enjoy their meal. The reactions from our guests, our franchisees and the Sandwich Artists has been incredibly positive."
    • Swatch partners with eleven Chinese banks for second-generation payments watch - NFC World - "Four new NFC smart watches that make use of China UnionPay’s cloud-based payments service have been unveiled in Shanghai by Swatch Group CEO Nick Hayek."
    • Cryptocurrencies are crashing, but bitcoin isn’t falling as badly as the rest - Quartz - "Cryptocurrency markets are crashing. Bitcoin’s price has fallen by about 20% in the last seven days, wiping out $7 billion of market value. But it’s doing better than other major cryptocurrencies like ether and ripple, which have lost 30% or more."
    • Hacker Uses A Simple Trick to Steal $7 Million Worth of Ethereum Within 3 Minutes - The Hacker News - "The heist happened after an Israeli blockchain technology startup project for the trading of Ether, called CoinDash, launched an Initial Coin Offering (ICO), allowing investors to pay with Ethereum and send funds to token sale's smart contact address. But within three minutes of the ICO launch, an unknown hacker stole more than $7 Million worth of Ether tokens by tricking CoinDash's investors into sending 43438.455 Ether to the wrong address owned by the attacker."

    ON THE WIRES

    • Mastercard Enhances Artificial Intelligence Capability with the Acquisition of Brighterion, Inc. - "Mastercard (NYSE:MA) today announced it has entered into an agreement to acquire Brighterion, Inc., a leading software company specializing in artificial intelligence. This acquisition will further expand its suite of capabilities that deliver an enhanced customer experience and security."
    • At Mid-Year, U.S. Data Breaches Increase at Record Pace - "The number of U.S. data breaches tracked through June 30, 2017 hit a half-year record high of 791, according to recent numbers released by the Identity Theft Resource Center (ITRC) and CyberScout. This represents a significant jump of 29 percent over 2016 figures during the same time period. At this pace, ITRC anticipates that the number of breaches could reach 1,500 in 2017, a 37 percent annual increase over 2016, when breaches reached an all-time record high of 1,093."
    • MagnaChip Selected as Foundry Partner by ELAN Microelectronics For World's First Fingerprint Sensor IC-Based Smartcard - "MagnaChip Semiconductor Corporation ("MagnaChip" or the "Company") (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor platform solutions for communications, IoT, consumer, industrial and automotive applications, announced today it was selected as a foundry partner by ELAN Microelectronics to manufacture the world's first fingerprint sensor IC-based smartcard. The smartcard uses biometrics technology that provides secure identification to prevent credit card fraud, a severe and growing problem globally. The sensor-IC based smartcard will be manufactured utilizing MagnaChip's 0.35 micron Mixed Signal Thick IMD manufacturing process technology."

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments industry has never been more important. Get the knowledge you need fast at one of our two day Payments Boot Camps. Our one day Insight Workshops follow each Boot Camp and are deep dives into key topics. Take a discount for attending all three days. Here's our fall schedule:

  • Payments Boot Camp, October 3-4, 2017, San Jose, CA, Logistics
  • Payments Boot Camp, October 17-18, 2017, NYC, NY, Logistics
  • Payments Boot Camp, December 5-6, 2017, Palo Alto, CA, Logistics
  • Global Payments, October 5, 2017, San Jose, CA, Logistics
  • Digital Payments, October 19, 2017, NYC, NY, Logistics
  • Innovation in Payments, December 7, 2017, Palo Alto, CA, Logistics
  • For more, click here. We hope to see you soon!

    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!

    July 17, 2017

    Headline News from PaymentsNews.com - July 17, 2017

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

    ON THE WEB

    • In Urban China, Cash Is Rapidly Becoming Obsolete - New York Times (Paywall) - "Almost everyone in major Chinese cities is using a smartphone to pay for just about everything. At restaurants, a waiter will ask if you want to use WeChat or Alipay — the two smartphone payment options — before bringing up cash as a third, remote possibility."
    • You'll soon be able to use PayPal to fund Samsung Pay purchases - The Verge - "Samsung Pay will soon accept PayPal as a payment method in addition to bank accounts, credit cards, and gift cards. It’s a tiny update that could be useful for PayPal customers who want more avenues to spend their PayPal balance in stores, as Samsung Pay is widely accepted anywhere a credit card is. The new partnership also allows merchants who use Braintree, PayPal’s subsidiary, to add Samsung Pay as a checkout option. The update, coming soon, will be available first for customers in the US, with a more global expansion to follow."
    • The Plan to Make Chip Credit Cards Less Annoying - Bloomberg - "The fastest, most convenient option is contact-less payments, in which customers check out by waving a card or phone in front of a payment terminal. Unfortunately, widespread adoption of the technology would be another logistical challenge for an industry still adjusting to basic EMV chips. "
    • Plastic-Versus-Cash Battle Heats Up After Visa, Mastercard Deals - Bloomberg - "Visa and Mastercard already have made big inroads in expanding credit-card usage. They handled $4.3 trillion in payments in the U.S. last year, more than double from a decade ago. Still, the amount of currency in circulation also has doubled in that period, and cash remains the most widely used payment instrument in the U.S."
    • Paytm Mall Delists 85K Sellers; Overhauls Sellers Onboarding Process - Inc42 - "The delisting of a huge chunk of sellers can be seen as an effort to establish the authenticity of the ecommerce platform. The Alibaba-backed ecommerce marketplace is also gearing up to compete against ecommerce giants Amazon India and Flipkart. Earlier this month, reports surfaced that Paytm Mall was in talks with online grocery startup Bigbasket to invest $200 Mn for a substantial stake in order to enter the hyperlocal space."
    • Visa touts free money transfers in Kenya via mVisa service - Mobile Payments Today - "Visa announced that customers of a Visa-affiliated banks in Kenya will be able to send money to each other domestically without paying transaction fees using mVisa, according to a press release."
    • The Crazy Security Behind the Birth of Zcash, the Inside Story - IEEE Spectrum - "In Zcash, verifying transactions requires some seriously experimental computation, mathematical proofs called zk-SNARKS that are so hot-off-the-presses that they’ve never been used anywhere else. In order to set up the zk-SNARKS in the Zcash protocol, a human being must create a pair of mathematically linked cryptographic keys. One of the keys is essential to ensuring the proper functioning of the currency, while the other one—and here’s the big risk—can be used to counterfeit new coins."
    • Watch this extorted money get lost in the expanse of the blockchain - Quartz - "The paradox of bitcoin is that it’s both public and anonymous. Every bitcoin transaction that has ever occurred is recorded on the blockchain, the digital ledger that organizes the currency, which can be viewed by anyone. Determining who owns the bitcoins behind those transactions, however, can be impossible if the owners are careful."

    ON THE WIRES

    • UnionPay promotes EMVCo to issue the EMVCo QR code specifications - "Promoted by UnionPay, EMVCo officially releases the EMVCo QR Code Specification for Payment Systems: Consumer-Presented Mode Version 1.0 on its website on July 15, 2017, providing one of the first globally interoperable technical solution for QR code payment. The issuing of this specification also marks a new breakthrough in UnionPay's promotion of the international application of China's payment standard."

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments industry has never been more important. Get the knowledge you need fast at one of our two day Payments Boot Camps. Our one day Insight Workshops follow each Boot Camp and are deep dives into key topics. Take a discount for attending all three days. Here's our fall schedule:

  • Payments Boot Camp, October 3-4, 2017, San Jose, CA, Logistics
  • Payments Boot Camp, October 17-18, 2017, NYC, NY, Logistics
  • Payments Boot Camp, December 5-6, 2017, Palo Alto, CA, Logistics
  • Global Payments, October 5, 2017, San Jose, CA, Logistics
  • Digital Payments, October 19, 2017, NYC, NY, Logistics
  • Innovation in Payments, December 7, 2017, Palo Alto, CA, Logistics
  • For more, click here. We hope to see you soon!

    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!