Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!
ON THE WEB
- Regulators enforce new rules – bank executives to vouch for cyber attack defences - Payments Cards & Mobile - "A new regulation, which takes effect on March 1, requires companies supervised by New York’s Department of Financial Services to establish and maintain a cyber security programme that can protect consumers’ private data and “ensure the safety and soundness” of the state’s financial services industry – according to an article in the FT."
- China Is Developing its Own Digital Currency - Bloomberg - "After assembling a research team in 2014, the People’s Bank of China has done trial runs of its prototype cryptocurrency. That’s taking it a step closer to becoming one of the first major central banks to issue digital money that can be used for anything from buying noodles to purchasing a car."
- PayPal Mobile Leadership Extends - PayPal blog - "In the fourth quarter of 2016, PayPal processed more than $31 billion in mobile payments, up 53% from the same period in 2015. PayPal processed more than $2 billion via mobile devices during just the busy five days between Thanksgiving and Cyber Monday last year. Mobile now accounts for one-third of our overall payments. "
- BIS Report: DLT 'Promising' But 'A Long Way Off' - Coindesk - ""Developments to date suggest that DLT bears promise but that there is still a long way to go before that promise may be fully realized. Much work is needed to ensure that the legal underpinnings of DLT arrangements are sound, governance structures are robust, technology solutions meet industry needs and that appropriate data controls are in place and satisfy regulatory requirements.""
- Gap sees growth from mobile point-of-sale integration - Mobile Commerce Daily - "“If you go back to Old Navy’s Q4, what you see is a really exceptional sales over traffic spread,” Mr. Peck said. “Not insignificantly, this was driven by the fact that we have deployed across many Old Navy stores the mobile POS which also has the ability to do stock checks, to do check inventory levels, to open credit cards, et cetera, and what we’re seeing is when a sales associate has this, it changes fundamentally the way they interact with our customers in a very positive way.”"
- Kaspersky records uptick in financial phishing and banking malware - Finextra - "2016 saw a big increase in financial phishing and banking malware, with crooks particularly targeting Android users, according to cybersecurity specialist Kaspersky Lab. Last year, financial phishing increased in both volume and professionalism, says Kaspersky, which recorded an all-time high in the number of incidents it caught on Windows-based machines."
- Cash is no longer king - Crunch Network contributor - "While India’s sudden and swift demonetization stirred up the country, several other countries are planning the same. The European Central Bank has decided to withdraw the €500 banknote from circulation by the end of 2018, and Sweden has done the same thing as a gradual exercise almost without anyone noticing. This is because cash is barely used in Scandinavia. According to the central bank of Sweden, cash transactions made up 2 percent of all payments made in Sweden in 2015, whereas in Norway, cash accounts for less than 3 percent of the total amount of money in circulation, according to the central bank of Norway. The Scandinavian countries also rank among the least corrupt and most transparent in the world."
- COMMENTARY: How 5G Networks Will Remake Payments—And the World - Digital Transactions News - "In the nearer term, Mastercard is already working with public transit systems to enable commuters to use their mobiles to pay, lowering costs for paper tickets, ticket machine upkeep, and fare collection. With 5G, transit providers can also collect and read critical information in real time to improve service, including increased efficiencies for buses and ridership and life-saving increases in response times to accidents and emergencies."
- Google Assistant, its AI-based personal helper, rolls out to Nougat and Marshmallow handsets - TechCrunch - "Google continues its march to expand its place in the mobile ecosystem, anchored by the fact that its Android OS is by far the most ubiquitous smartphone platform in the world. Today, the company announced that it would be rolling out Google Assistant, its conversational search and AI-based personal helper (and answer to Apple’s Siri and Amazon’s Alexa), to smartphones running Google Play services on unforked versions of Android 7.0 (Nougat) and Android 6.0 (Marshmallow), including Android-forward phones like the Nexus and new devices like the LG G6."
ON THE WIRES
- Mastercard Expands Mobile Order-Ahead Platform for Retailers and On-The-Go Consumers - "At Mobile World Congress, Mastercard today announced that it will expand Qkr! with Masterpass, a mobile order-ahead and payment platform developed by Mastercard Labs, to six new markets and add new functionality to eliminate the traditional “open tab” at a bar, club or restaurant."
- Oracle and Mastercard to Deliver Seamless Payments - "At Mobile World Congress, Mastercard today announced a global partnership with Oracle that is designed to deliver a streamlined digital payment experience to the retail and hospitality industries."
- mVisa to Expand to 10 Countries - "MOBILE WORLD CONGRESS – Visa (NYSE:V), announced that mVisa, its QR-based payment service, now live in India, Kenya and Rwanda, will soon be available to merchants and consumers in Egypt, Ghana, Indonesia, Kazakhstan, Nigeria, Pakistan and Vietnam. mVisa, a mobile solution, brings the benefits of easy and secure digital commerce to financial institutions, merchants and consumers in emerging markets - helping accelerate the global migration from cash to electronic payments."
- Rambus Accelerates Mobile Wallet Adoption With Unified Payment Platform - "Today Rambus Inc. (NASDAQ:RMBS) announced a comprehensive mobile payments platform to enhance payment security, reduce operational costs and increase revenue for retailers. The Rambus Unified Payment Platform securely converts and manages digital value to enable consumers to pay with credit, points and coupons in a single transaction, and transform how they shop and pay."
GLENBROOK PAYMENTS EDUCATION EVENTS
The next Glenbrook Payments Boot Camp is March 7-8, 2017 in San Jose, CA. On March 9, still in San Jose, will be our Digital Payments Insight Workshop. Following that, our next public Boot Camp and Insight Workshop combination will be in New York City in April followed by Atlanta in May. Check out our spring 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.
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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: firstname.lastname@example.org!