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May 26, 2017

Headline News from PaymentsNews.com - May 26, 2017

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

Have a great Memorial Day weekend!

ON THE WEB

  • Canadian trial finds blockchain not ready for bank settlements - Reuters - "Distributed ledger technology, a new approach for processing transactions that is being widely tested across the financial industry, is not yet mature enough to run a national interbank payment settlement system, the Bank of Canada said on Thursday. The bank reached that conclusion after a closely watched year-long trial code-named "Jasper," which sought to determine whether the technology, known as DLT, could be used to improve the performance of Canada's wholesale interbank payment system."
  • Walmart Continues E-Commerce Surge, But Grocery Competition Set To Sizzle - Retail Touch Points - "When Walmart first announced it was acquiring Jet.com last summer, the retail giant made it very clear that it was gunning for Amazon’s position as the e-Commerce leader. The desire to take on the pure-play pacesetter was particularly sharp after Walmart suffered five straight quarters of digital sales declines. Thus far, the move has been an astounding success for Walmart, which saw yet another stellar quarter from the digital side: e-Commerce sales jumped 63% while gross merchandise volume grew 69%."
  • Mastercard Extends Footprint In Middle East And North Africa With Strategic Expansion In Key Markets - Payments Afrika - "By establishing its formal presence in three new markets in the Middle East and North Africa, Mastercard, a leading technology company in the global payments industry, has reaffirmed its commitment to transforming the payments sector in the region through a renewed customer-centric approach to growth and expansion.| "

ON THE WIRES

  • SWIFT unveils industry’s first ever cross-border payments tracker - "SWIFT announces today the availability of its new cross-border payments Tracker that enables international payments to be traced in real-time. The Tracker is the cornerstone of SWIFT gpi – the cooperative’s new payments innovation service – which is revolutionizing the industry by combining real-time payments tracking with the speed and certainty of same-day settlement for international payments."
  • Global Payments Announces Full Support for Samsung Pay in the UK - "Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology services, is pleased to offer merchants in the United Kingdom the ability to accept Samsung Pay, a simple and safe mobile payment service that works almost anywhere you can swipe or tap your card. As a Samsung Pay-qualified payment provider, Global Payments' robust suite of payment solutions is fully enabled for acceptance, allowing merchants to offer their customers the convenience of Samsung Pay."

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 such as digital payments and the global phenomenon of real-time push payments. Take a discount for attending all three days. Our workshop schedule is all set for the fall. Check it out 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!

May 25, 2017

Headline News from PaymentsNews.com - May 25, 2017

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

ON THE WEB

  • Stripe now lets marketplaces onboard new sellers in less than 2 minutes - Venture Beat - "Today, Stripe is lifting the lid on a new kind of Connect account in the U.S. that allows sellers (e.g. couriers, merchants, and drivers) to sign up to Stripe Connect-powered marketplaces in less than two minutes — drastically undercutting the current state of play, which can take several weeks."
  • Safaricom lowers merchants fee to 0.5% on M-Pesa 1Tap Platform - Kenyan Wall Street - "M-Pesa One Tap will charge merchants 0.5% for transactions, while capping the same at Kshs. 200 for all transactions. Transactions below Kshs. 200 will not be charged both on the merchant and customer side. Webb says this is unlike the high 3.5% charged by acquirers, who also require customers to invest in infrastructure and license fees."
  • Google and Stripe Eye a slice of UPI pie in India - The Economic Times - "Google is preparing to introduce its digital wallet, Android Pay, in India this year, anchoring the platform to the government-backed Unified Payments Interface as are other global companies including Stripe and WhatsApp.
  • Fintech's decentralized nature challenges regulators as industry transforms banking - Reuters - "The amalgam of technological innovations that go under the label fintech began in the back office but has since moved to the front line. Banks are taking multiple approaches to developing systems, and any kind of collaboration on standards is at a very early stage. Key finech advances, including distributed ledger technology such as blockchain, require regulators to devise new strategies for oversight."
  • Worldpay Looks to Bring Real Payments to Virtual Worlds - Bloomberg - "Worldpay Group Plc, the London-based payments processor, has created a way to handle debit and credit card transactions in virtual reality. After building the solution over the past 18 months, Worldpay will target companies that produce virtual reality games and possibly others, such as fashion retailer Asos Plc and furniture seller Ikea, that have begun experimenting with VR as a sales tool, Nick Telford-Reed, the payment firm’s director of technology innovation, said in an interview."
  • WorldRemit, JMMB Money Transfer launch online transfers to Jamaica - Mobile Payments Today - "Digital money transfer services WorldRemit and JMMB Money Transfer have partnered to offer bank transfers to Jamaica, according to a press release."
  • Mossberg: The Disappearing Computer - recode (Big shout out to Walt Mossberg for his fine technology reporting over many years)- "This is my last weekly column for The Verge and Recode — the last weekly column I plan to write anywhere. I’ve been doing these almost every week since 1991, starting at the Wall Street Journal, and during that time, I’ve been fortunate enough to get to know the makers of the tech revolution, and to ruminate — and sometimes to fulminate — about their creations."

ON THE WIRES

  • Retailers Welcome Reports That House Will Drop Efforts to Repeal Debit Card Swipe Fee Reform - "The National Retail Federation welcomed reports tonight that House Republican leaders plan to abandon an attempt to repeal debit card swipe fee reform that has saved retailers and their customers more than $40 billion and brought badly needed competition to the payments market."
  • 2016 Top Smart Payment Card Shipment Figures - "Data collated by the SPA from its members show over 2152 million payment chip cards were shipped globally in 2016, an increase of 4% on 2015 figures."
  • Win the Morning with Masterpass and Dunkin’ Donuts - "To ensure coffee lovers get their morning started right, Dunkin’ Donuts now accepts Masterpass by Mastercard so guests can quickly and easily purchase and reload virtual Dunkin’ Donuts cards on DunkinDonuts.com and the Dunkin' Mobile App."
  • Control Releases Square Integration - "Control, a leading transaction analytics and alerts platform for SaaS, subscription and eCommerce businesses, has added an integration with Square. As the first standalone analytics and reporting tool to integrate with Square, Control now offers merchants that accept payments online and offline the efficiency of seeing all their analytics on one dashboard, rather than having disjointed data that will require manual calculation."
  • Bank of America Enhances Customer Choice: Provides Secure and Reliable Access to Data - "As customers look for more ways to view their full financial picture in one place, Bank of America is making updates to its Security Center and working with multiple financial data aggregators to provide customers the ability to simply and securely connect data from their Bank of America accounts to third-party financial management applications. Customers will also soon be able to see exactly which data aggregator services they’ve allowed to access their information. "

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 such as digital payments and the global phenomenon of real-time push payments. Take a discount for attending all three days. Our workshop schedule is all set for the fall. Check it out 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!

May 24, 2017

Headline News from PaymentsNews.com - May 24, 2017

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

  • Discover Global Network Signs Deal with Desjardins Group to Expand Merchant Credit Card Acceptance in Canada - "Discover Global Network, the third largest payments network in the world1 and part of Discover Financial Services, has entered into an agreement with Desjardins Group, the leading cooperative financial group in Canada through its Monetico payment solutions, to expand acceptance in Canada. Merchants that have business relationships with Desjardins are now able to accept cards that run on the Discover Global Network, including Discover, Diners Club and alliance partner cards."
  • Payment Source Enables 'In-Person' Tax Payments Coast-to-Coast - ""Whether making online purchases, loading a mobile wallet or settling your taxes, it's important that Canadians have as many convenient options as possible. We're excited to be working with Canada Post to offer in-person cash or debit payment at any post office coast-to-coast," said George DeMarchi, President, Payment Source."
  • Customers Sitting on $100 Billion of Unredeemed Loyalty Points - "The Loyalty Report 2017, conducted in collaboration with Visa, is the largest study of its kind. The report captures responses from more than 28,000 consumers in the United States and Canada, collecting feedback on more than 400 programs on 50+ attributes of loyalty programs, including rewards and redemptions, program and earn mechanics, brand alignment and emotional and behavioral loyalty outcomes, as well as human-to-human and digital experiences."
  • SecureNow from Fiserv Delivers Integrated Cybersecurity Protection for Digital Banking - "Fiserv, Inc. (NASDAQ:FISV), a leading global provider of financial services technology solutions, today announced the availability of SecureNowTM, a centralized, real-time cybersecurity platform designed specifically for digital financial services. SecureNow integrates a wide range of cybersecurity protections to enable financial institutions to combat fast-moving threats and detect fraud in real time while maintaining a positive experience for legitimate users."
  • Netspend and United Airlines Launch MileagePlus GO Visa Prepaid Card in U.S. - "MileagePlus GO Visa Prepaid Card will be the first prepaid card in the U.S. offering a consumer the opportunity to directly earn miles for qualifying purchases made with a prepaid card."

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 such as digital payments and the global phenomenon of real-time push payments. Take a discount for attending all three days. Our workshop schedule is all set for the fall. Check it out 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!

May 23, 2017

Headline News from PaymentsNews.com - May 23, 2017

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

ON THE WEB

  • Google now knows when its users go to the store and buy stuff - Washington Post - "Google will begin using data from billions of credit and debit card transactions — including card numbers, purchase amounts and time stamps — to solve the advertising juggernaut’s long-standing quest to prove that online ads prompt consumers to make purchases in brick-and-mortar stores, the company said on Tuesday."
  • TransferWise launches ‘Borderless’ account for businesses, sole traders and freelancers - TechCrunch - "Moving beyond simply sending money from one country to another, the company is launching its “Borderless” account, a new online banking account aimed at businesses, sole traders and freelancers who need to conduct business across borders and in multiple currencies, and who want to take advantage of TransferWise’s low exchange rate when doing so."
  • Futuristic Fintech, With a Female Focus - Wall Street Journal (Paywall) - "Early testing yielded another important discovery: Women liked Joy more than men, so much so that Joy’s all-male team pivoted and redesigned their product. They brought in Alison Brod, a PR firm that specializes in beauty and fashion, to help create Joy’s look and feel, including its bright color scheme and balloon logo. Men are more than welcome to use Joy, Saunders says, but the app is unmistakably marketed to women, who remain an underserved market in financial services."
  • Investors Pour More Funding Into Cybersecurity Startups As Cyberthieves Ramp up Attacks - Digital Transactions News - "As cyber attacks grow more vicious, investors are pouring more money into startups whose technology is aimed at thwarting online thieves. Funding deals for private cybersecurity firms reached 139 in the first quarter, the highest quarterly number recorded over the past five years by CBInsights, a New York City-based research firm."
  • Blockchain consortium R3 raises $107 million - TechCrunch - "Leading investors included SBI Group, Bank of America Merrill Lynch, HSBC, Intel and Temasek, the company said in a statement. R3 represents the largest consortium of global financial institutions working on developing commercial applications for the distributed ledger technology that’s at the heart of blockchain technology."
  • Samsung Pay goes live in Taiwan with seven banks - NFC World - "Samsung Pay has been launched across Taiwan with support from Visa and Mastercard along with seven major banks including Citibank, Cathay United Bank, E.Sun Commercial Bank, Taishin International Bank, Fubon Bank, Union Bank of Taiwan and Standard Chartered. The service supports iris scan authentication for those with Samsung Galaxy S8 and S8+ devices."
  • Android Pay enters 11th global market with launch in Russia - NFC World - "Supporting banks include AK Bars, Alfa-Bank, B&N Bank, MTS Bank, Otkritie, Promsvyazbank, Raiffeisen Bank, Rocketbank, Russian Standard Bank, Russian Agricultural Bank, Sberbank, Tinkoff Bank, Tochka, VTB24 and online payment service Yandex.Money, which also offers support for Apple Pay and Samsung Pay."
  • Hackers Defeat Samsung Galaxy S8 Iris Scanner - Security Week - "While an individual’s iris is unique, researchers from CCC showed that Samsung’s iris scanner can be defeated by showing it a picture of the victim’s eye. It’s worth noting that members of the CCC were the first to bypass Apple’s fingerprint-based Touch ID system after its introduction in 2013. "

ON THE WIRES

  • Report: 70% of Financial Cards Have Chip - "Adoption of more expensive chip cards continues to drive global card growth with 70 percent of all financial cards now having a chip, according today to the International Card Manufacturers Association’s (ICMA) release of its 2016 Global Card Market and Personalization and Fulfillment Statistics Reports."
  • 57% of Billing Organizations are Increasing Investment in Electronic Payments Capabilities Over the Next Two Years - "The majority (57%) of billing organizations are investing in relevant payments technology to keep up with consumer wants and expectations, according to new data, “2017 Global Payments Insight Survey: Bill Pay Services,” from ACI Worldwide (NASDAQ: ACIW) and Ovum. The study, which includes organizations from a diverse array of industries—such as higher education, insurance, consumer finance, government, healthcare services and utilities—revealed that the pace of payments investment continues to increase year-over-year. "
  • Fattmerchant Platform Launches, Providing Companies with Comprehensive, Omni-Channel View of Payments and Transactions - "Fattmerchant, a payment processing provider offering transparent pricing and innovative technology, today announces the launch of the Fattmerchant Platform, which provides business owners with an all-in-one look at their processing information as well as valuable insights to help make smarter financial decisions. "

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 such as digital payments and the global phenomenon of real-time push payments. Take a discount for attending all three days. Our workshop schedule is all set for the fall. Check it out 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!

May 22, 2017

Headline News from PaymentsNews.com - May 22, 2017

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

ON THE WEB

  • Technology Inequality - Center for Financial Inclusion - "Like many techno-wonders of our world, the services used in Kenya and many other countries operate through distinct technologies that must interconnect seamlessly to complete transactions securely. These layers include data transmission connectivity, the handsets themselves and their operating systems, and the technologies delivering MFS menus and commands. These systems are continually evolving, subject to market and technology forces that do not necessarily prioritize mobile money."
  • EU executive asks bank watchdog to rethink 'screen scraping' ban - Reuters - "The European Union's financial services chief said on Friday he will ask the bloc's banking watchdog to rethink its proposed ban on "screen scraping" or financial technology firms directly accessing bank accounts. It marks a reprieve for fintech firms trying to wrestle market share from long established banks in the fast growing payments and apps sector."
  • Apple Pay violates Boston company’s patents, suit alleges - Boston Globe - "A small Boston company, founded by the inventor of a popular corporate encryption technology called RSA SecurID, sued Apple and Visa on Sunday, arguing that the Apple Pay digital payment technology violates its patents."
  • Tipping point for Apple Pay as majority of UK tills accept limitless payments - The Telegraph - "The majority of Apple Pay tills in the UK can now accept mobile payments above £30, bringing the tech giant's vision of replacing the wallet a step closer. Jennifer Bailey, the head of Apple’s payments business, said over half of contactless payment terminals in the UK are now able to take Apple Pay transactions of any value. Most card readers had previously been restricted to £30, the default upper limit for contactless card transactions."
  • Aptos Engage: ‘Store Of The Future’ Must Arrive Now...And Entertain - Retail Touch Points - "For years, Amazon has been considered retail’s public enemy No. 1. Of course, retailers understand the impact and influence of Amazon at a high level, but retail futurist and consultant Doug Stephens spotlighted a harrowing statistic during his keynote presentation at the second annual Aptos Engage user conference in Hollywood, Fla.: 60% of all e-Commerce growth is going straight to Amazon, with 40% left for everyone else."
  • Bitcoin just surged past $2,000 for the first time - TechCrunch - "But bitcoin isn’t the only cryptocurrency on the rise. Ripple, the centralized currency that is aiming to be a settlement protocol for major banks, has surged more than 10x, or 1000% in under a month making it now the second most valuable cryptocurrency (only behind bitcoin) in circulation."
  • POSERA, INGENICO TO ROLL OUT PAY-AT-THE-TABLE SOLUTION IN US - Cards International - "Posera, a Canadian provider of software solutions for the hospitality industry, has collaborated with French payment solution provider Ingenico to introduce its pay-at-the-table (PATT) solution SecureTablePay in the US. Under the partnership, Posera will integrate its SecureTablePay on Ingenico’ wireless smart terminals iWL250 to increase convenience as well as efficiency for the restaurant and the server."
  • Verse grabs $20.5M to take its p2p payments play beyond Europe - TechCrunch - "Social payments app Verse has closed a $20.5 million Series B round of funding from its existing investors. The round is led by Spark Capital, with eVentures and Greycroft Partners also participating. It raised its Series A in October last year, when it took in $8.3M."

ON THE WIRES

  • Nasdaq and Citi Announce Pioneering Blockchain and Global Banking Integration - "Nasdaq, Inc. (Nasdaq:NDAQ) and Citi (NYSE:C) Treasury and Trade Solutions announced today a new integrated payment solution that enables straight through payment processing and automates reconciliation by using a distributed ledger to record and transmit payment instructions. A number of payment transactions have been concluded including Citi’s automated processing of cross-border payments via a link between the CitiConnect® for Blockchain connectivity platform and the Linq Platform powered by the Nasdaq Financial Framework. This collaboration has created a pioneering institutional banking solution that tightly integrates blockchain technology with Citi’s global financial network leveraging API technology."
  • Total Merchant Services Partners with Womply to Offer Groovv Insights - "Total Merchant Services, a leader in payment services and solutions, today announced it is partnering with Womply to offer Groovv Insights, a technology and data platform that helps merchants grow, protect, and simplify their businesses. "
  • Jaxx Announces Massive Expansion, Partnering and Integrating With 70+ Top Blockchain Projects, Exchanges, & Platforms to Make Digital Currencies More Accessible to Masses - "Decentral (http://decentral.ca/) today announced that its flagship product, Jaxx (https://jaxx.io/), the leading user-controlled, multi-asset, multi-platform digital currency wallet and exchange, has secured over 70 new partners and integrations on the way to bolster its mission to become the ultimate command centre for all things blockchain. Just as the browser unleashed the power of the Internet, Jaxx will be the tool that brings digital currencies and digital assets to the masses."

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 such as digital payments and the global phenomenon of real-time push payments. Take a discount for attending all three days. Our workshop schedule is all set for the fall. Check it out 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!

May 19, 2017

Headline News from PaymentsNews.com - May 19, 2017

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

ON THE WEB

  • Telegram now lets users buy things from chatbots in its messaging app - TechCrunch - "Telegram, which puts a focus on security, introduced chatbots nearly two years ago, and now it is bringing support for payments for chatbots. That’s likely to open up a whole series of commercial opportunities for companies that want to use the chatbot platform to connect with consumers. The most obvious is e-commerce, but real-life commerce through bots — for example, buy a coke in a shop by interacting with its bot — is a possibility that other companies beyond Telegram are considering. Kik CEO Ted Livingston recently told TechCrunch that the introduction of payments is key to making chatbots live up to the hype."
  • Google announces Payment API, Assistant payments, targeted Android Pay loyalty offers & more - 9to5Google - "The new Google Payment API, which will work with both verified credit or debit cards linked to a Google account, is launching to enable faster payments in apps and online by requiring only a security code or authentication with an Android device to complete a purchase. Google is accepting sign ups for developers that are interested in getting early access to the new API."
  • Cryptocurrency Market Cap Tops $60 Billion to Hit All-Time High - Coindesk - "The total market capitalization of all cryptocurrencies reached an all-time high today, passing $60bn as the innovative assets continued to draw robust inflows. This figure reached $63.6bn at one point during the day's trading, according to online data service CoinMarketCap, which represented a weekly, monthly and quarterly increase of roughly 18%, 115% and 220%, respectively."
  • Fraudsters Exploited Lax Security at Equifax’s TALX Payroll Division - Krebs on Security - "Identity thieves who specialize in tax refund fraud had big help this past tax year from Equifax, one of the nation’s largest consumer data brokers and credit bureaus. The trouble stems from TALX, an Equifax subsidiary that provides online payroll, HR and tax services. Equifax says crooks were able to reset the 4-digit PIN given to customer employees as a password and then steal W-2 tax data after successfully answering personal questions about those employees."
  • Cayan preps new mPOS device, the Genius Mini - Mobile Payments Today - "Cayan said in a press release that the Genius Mini supports the growing trend of retailers and restaurants embracing mobile tablet POS systems and can accept all payment types including chip cards, NFC mobile payment and magstripe cards."
  • The Modern Mobile Web: State of the Union - Chromium.org - "What a difference a year makes. Last year at Google I/O, we shared that the mobile web was open for business. New technologies such as AMP and Progressive Web Apps (PWAs) were bringing new capabilities, better performance, and a streamlined workflow to the mobile web. Fast forward one year later: more than two billion AMP pages have been created and "PWA" has proved to be far more than a buzzword—it’s now the way that many businesses around the world are building for mobile devices. "

ON THE WIRES

  • First Data Launches Global eCommerce Solution for Payment Facilitators - "With First Data’s Global PFAC solution, payment facilitators have access to a single integration interface, enabling their merchants to easily authorize transactions in more than 150 currencies worldwide, and settle in 17 currencies."
  • Wells Fargo Helps Automates Accounts Receivables - "Wells Fargo & Company (NYSE:WFC) announced today significant enhancements to the Receivables Manager service offered to Treasury Management customers. The industry-leading tool saves time and improves efficiency for accounts receivable departments. Receivables Manager now offers three distinct capabilities – remittance advice matching, ACH and wire repair, and an integrated receivables file– that together streamline and automate the receivables application and posting processes."
  • XRP Liquidity to Increase With Listings on 6 New Exchanges - "Ripple, the only blockchain payments provider with proven commercial deployments, has announced today the expansion of its partnership with BitGo to list XRP on several leading digital asset exchanges: Bitso, Coinone, bitbank, and SCI’s BuyBitcoin. Additionally, AlphaPoint will be adding XRP to their platform so that their exchange customers can easily list XRP, and separately, Quoine’s QRYPTO exchange will list XRP in Q2 2017. SBI Virtual Currencies also plans to list XRP later this year."
  • Portland Launches Mobile Parking Payment App, Parking Kitty, Powered by Passport - "Portland, Oregon is changing the city’s parking experience. Doing away with a few of the hassles traditionally associated with city parking, Portland has launched Parking Kitty, a mobile payment app powered by Passport, the global leader in mobile payments for parking and transit. The mobile application will also be available throughout the region at Washington Park and Portland State University."

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 such as digital payments and the global phenomenon of real-time push payments. Take a discount for attending all three days. Our workshop schedule is all set for the fall. Check it out 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!

May 18, 2017

Headline News from PaymentsNews.com - May 18, 2017

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

ON THE WEB

  • Alipay, WeChat Pay lead China finance app explosion - Mobile World Live - "Finance app downloads in China grew by 230 per cent during 2016, according to a new report from analytics company App Annie. Unsurprisingly, m-commerce giants Alipay and WeChat Pay drove growth in the country. App Annie said the two were now on par with each other in terms of engagement, and way ahead of the nearest app from a traditional finance provider."
  • Square Will Replace Meters in Washington Taxis - Bloomberg - "Washington, D.C., is enlisting Square Inc.’s help as its taxi commission tries to help the city’s cabbies compete with Uber drivers. By the end of August, all of the taxis in Washington have to tear out their traditional meters and start using smartphones or tablets, in what the city government has been describing as a complete reimagining of how the cab system works. On Wednesday, the Department of For-Hire Vehicles is announcing that Square will process the payments going through those mobile devices."
  • Square Lays out Its Strategy for Growth at an Upbeat Investor Day Presentation - Digital Transactions News - "In its presentation, Square said it wants to improve the efficiency of acquiring merchants, which it calls sellers; move its services up market to larger merchants; grow and retain its existing customer portfolio; and make more international expansions. In March, Square launched in the United Kingdom, having already debuted in Canada, Japan, and Australia."
  • Paytm Raises $1.4 Billion From SoftBank to Expand User Base - Bloomberg - "Paytm, India’s largest digital payments startup, raised $1.4 billion from SoftBank Group Corp. in the largest funding round from a single investor for the country’s technology sector."
  • Google I/O: New Ways to Put Customers at the Center of Your Apps and Payments - Inside AdWords - "The Google Payment API enables merchants and developers to turbocharge checkout conversion by offering your users an easy way to pay with credit and debit cards saved to their Google Account. Users will have multiple Google payment options at their fingertips, like a credit or a debit card previously saved via Android Pay, a payment card used to transact on the Play Store or a form of payment stored via Chrome. And they’ll be able to use these saved payment options in third-party apps and mobile sites, as well as on Google Assistant when they are on-the-go."
  • Big data, Chinese surveillance, and Donald Trump could keep China’s biggest payments company from entering the US - Quartz - "The Trump administration has two options as it faces this deal. It can oppose it on grounds that a reverse acquisition would likely never receive approval in China, citing the “reciprocity” slogan. As senator Roberts said, Ant Financial’s acquisition of MoneyGram “should trigger no less concern than if a Chinese company were seeking to take control of a large, well-known bank,” and added “there is virtually no chance that a US financial services company would be permitted to acquire a Chinese [rival].”"

ON THE WIRES

  • First Data's Clover Platform to Enable Android Pay's Smart Tap - "Android Pay’s smart tap NFC messaging and mobile wallet marketing capabilities allow businesses to bring loyalty programs, stored value cards, coupons, and other offers to mobile-connected consumers. Android Pay users can simply tap their phones at the point of sale to receive rewards based on their loyalty or coupons towards future purchases."
  • North American Bancard Holdings and Total Merchant Services Announce Agreement for the Acquisition of Total Merchant Services - " North American Bancard Holdings, LLC (NAB), a multi-faceted and award-winning payment solutions provider, and Total Merchant Services, Inc. (TMS) announced today their agreement pursuant to which NAB will acquire TMS. The combined entity will be the 7th largest processor in terms of merchant locations in North America, processing nearly $50B annually."
  • Youtap Introduces X8 Solution for Mobile Money Merchant Payments - "Youtap has introduced an inexpensive retail enablement solution to help mobile network operators, banks and payment providers boost transaction revenue. Youtap's solution enables Tier 2 and Tier 3 merchants to accept NFC and QR code-based mobile money payments at the curb side. The solution relies on Youtap's NFC X8, a small, discreet point-of-sale device that can fit easily in a merchant's pocket or be worn around the neck. The X8 can process all mobile money transactions, including cash-in and cash-out transactions, airtime top-ups, bill payments and in-store payments."

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 such as digital payments and the global phenomenon of real-time push payments. Take a discount for attending all three days. Our workshop schedule is all set for the fall. Check it out 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!