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February 27, 2017

Headline News from PaymentsNews.com - February 27, 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

  • 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.

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!

February 24, 2017

Headline News from PaymentsNews.com - February 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

  • Bitcoin Price Sets New All-Time High - Coindesk - "The price of bitcoin has reached a new all-time high."
  • In Argentina the AFIP will oblige all businesses to accept payments with credit cards - Payment Media (translation necessary) - "All businesses, professionals, health centers, cultural or entertainment will have to comply with the obligation to accept debit card for their operations, in a process that will begin in April and end in December, announced the Federal Administration of Public Revenue )."
  • Green Dot Gets Set for a Major Role in Payroll Cards As It Prepares to Swallow UniRush - Digital Transactions News - "Green Dot Corp.’s chief executive on Wednesday hailed the company’s pending acquisition of UniRush LLC and hinted the Pasadena, Calif.-based prepaid card specialist may be on the prowl for more such transactions. “We continue to keep our eyes open for new acquisition opportunities that meet our requirements,” said Steve Streit during a conference call to discuss Green Dot’s fourth-quarter and full-year 2016 results, according to a Seeking Alpha transcript."
  • Barclaycard strikes new wearable deals for contactless jewellery and watches - Finextra - "Contactless payment technology is migrating from the plastic card to high street jewellery and watch brands under deals agreed by Barclays with DCK Group and Tappy Technologies."
  • Lease Payment Solution Provider Raises $150M - Retail Touch Points - "Zibby works to help retailers target non-prime customers who don't qualify for traditional financing options, offering a risk-free payment option for durable goods. "
  • RCS, Google’s answer to iMessage, expands to 27 more carriers and OEMs - TechCrunch - "While messaging apps like WhatsApp, Messenger, Snapchat and WeChat rake in ever more users, features and relationships with key brands, and Apple’s iMessage continues to play strong with iPhone users, Google today announced a big step forward in its own strategy to bring a native, enhanced, native messaging service to more Android devices — a play for Google to help carriers raise their own native messaging game, and stay in the messaging game itself in the future."
  • Browser Fingerprinting Tech Works Across Different Browsers for the First Time - IEEE Spectrum - "Browsing the web just got a little less anonymous. The software that lets web sites identify you by certain characteristics of your computer and software was usually thwarted if you switched browsers. But now computer scientists have developed new browser fingerprinting software that identifies users across web browsers with a degree of accuracy that beats the most sophisticated single-browser techniques used today."

ON THE WIRES

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.

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!

February 23, 2017

Headline News from PaymentsNews.com - February 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

  • Silicon Valley Tried to Upend Banks. Now It Works With Them. - New York Times Dealbook (Paywall) - "The venture capitalists who have invested billions of dollars in this wave of new financial technology — think Venmo and Bitcoin — have been left waiting for a breakout star that actually looks like a threat to even a part of the big banks’ business."
  • Square Tops Sales Estimates on Growth of Bigger Merchants - Bloomberg - "Square Inc., the electronic-payments company run by Twitter Inc. Chief Executive Officer Jack Dorsey, topped sales estimates for the fourth quarter, bolstered by larger merchants that are contributing an increasing share of Square’s payments volume. The shares climbed as much as 9 percent in extended trading."
  • Despite rising fraud, 80pc of consumers believe their info is secure: report - Mobile Commerce Daily - "A new report from ACI Worldwide illuminates a few of the drawbacks of an increasingly connected world, including a focus on the U.S., where only 54 percent of consumers trust third-party firms with personal and financial data."
  • Banking Industry Addresses Diversity, Adding Women to Boards - New York Times Dealbook (Paywall) - "Banking and capital markets, often viewed as dominated by men, achieved high scores in a newly released survey measuring the diversity in their director ranks. In 2016, women made up 26 percent of the boards in the banking and capital markets industry, which tied with the retail industry, according to a survey conducted by PricewaterhouseCoopers. The average rate of women on boards of companies in the Standard & Poor’s 500-stock index was 21 percent."
  • Messaging app Viber adds e-commerce button to sell you items inspired by your chats - TechCrunch - "Messaging app Viber is today announcing a new feature that taps into the bigger trend of messaging apps becoming multi-functional platforms, and also its ownership by e-commerce company Rakuten. Viber will start to present users with items for sale, inspired by your current chat, when you press a small shopping bag icon at the bottom of the screen and search for items. "
  • Airbnb finalizes deal to buy social payments startup Tilt - TechCrunch - "Airbnb is obtaining the Tilt assets and will keep the app operational, at least for now. But some sources are characterizing this as more of an acqui-hire, because Airbnb is spending most of the money on retaining the team."
  • MYOB acquires Paycorp in payments processing push - Finanical Review - "Accounting software company MYOB is pushing further into payment processing solutions, which it sees as a major growth opportunity for the business, thanks to the $48 million acquisition of Paycorp. The Paycorp purchase follows the company's launch of its PayDirect Mobile and PayDirect Online solutions in 2014 and 2016 respectively."
  • Faster Than Lightning? 'Sprite' Paper Envisions New Bitcoin Payments - Coindesk - "Announced in early 2016, the Lightning Network, has been heralded as a promising solution to bitcoin's scaling challenges – one that, over the past year, has been inching closer to launch. However, a new paper has laid out the framework for another payment system that researchers claim would be even faster."
  • Frank Abagnale, world-famous con-man, explains why technology won’t stop breaches - Ars Technica - "When credit card data is stolen, Abagnale explained, criminals "have to get rid of it right away"—because credit cards can be replaced and fraud stopped quickly. "But if it is someone's name, Social Security Number, and date of birth—they can't change [those things]. So the longer I keep the data, the more valuable it becomes when I go to sell it." Abagnale noted that some of the personal identity data stolen from the breach at TJ Maxx a decade ago is just starting to surface on the black market, for instance."

ON THE WIRES

  • Mastercard Launches Digital Vendor Directory to Assist Customers with Their Tokenization and Digital Wallet Development Efforts - "The Digital Vendor Directory was developed to help Mastercard customers identify vendors they may engage to more easily and quickly tokenize and digitize card portfolios and deploy their own Masterpass-enabled digital wallets, using the service provider of their choice. The directory lists both global and regional vendors and provides information about each vendor’s digital offering and geographical presence. In addition, each vendor is assigned a level of standard, gold or platinum, reflecting the vendor’s readiness level in integrating with Masterpass and with the Mastercard Digital Enablement Service (MDES). "
  • US Payments Forum Elects New Steering Committee to Provide Cross-industry Leadership and Guidance for US Payments Industry - "The U.S. Payments Forum and its leadership are making significant impacts in advancing the progress of payments technologies that protect the security of, and enhance opportunities for, payment transactions within the U.S. To propel the organization and its mission forward, the U.S. Payments Forum announced today its 2017-2018 Steering Committee and officers."
  • IDT Introduces the BOSS Revolution Money App - "IDT Corporation (NYSE: IDT), a global provider of communications and payment services, today announced the introduction of BOSS Revolution Money. The new app lets users send money transfers, mobile airtime and electronic gift cards to family and friends easily and securely. "

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.

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!

February 22, 2017

Headline News from PaymentsNews.com - February 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

  • Swift Reveals Future Global Payment Tech – Blockchain Not Included - Coindesk - "After months of testing, Swift, the interbank payments platform that connects 11,000 global banks, has formally launched the system it believes will be the future of its cross-border payments services. And notably absent was any integration with blockchain or distributed ledger technology."
  • Mahindra Comviva launches payPLUS Aadhaar Pay for Rural India - Data quest - "Mahindra Comviva, the global provider of mobility solutions, announced the launch of payPLUS Aadhaar Pay, a merchant payment acceptance solution that leverages India Stack for merchant payments. payPLUS Aadhaar Pay simplifies digital payments by using Aadhaar number and linked biometric credentials to facilitate merchant on-boarding and payments. Given the government’s focus on digital payments, payPLUS Aadhaar Pay provides a merchant acceptance solution designed for rural India taking into account the specific challenges faced by consumers and merchants in such demographic segments."
  • Big Banks Declare War on Venmo - Bloomberg - "Nineteen banks, including Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo, are teaming up to start Zelle, a web site and app that will let users send and request money much like Venmo does. Bank of America says it is the first to incorporate all of Zelle's capabilities—including the ability to split bills between users—into its own mobile app, starting today. A standalone Zelle payment app should be available to anyone with a debit card, regardless of where they bank, by the middle of the year."
  • World Bank commits $130 million for digital payments in Pakistan - Impact Alpha - "The World Bank is backing projects in Pakistan to build access to credit and digital payment infrastructure for households and small businesses. The move is part of the government’s 2015 National Financial Inclusion Strategy."
  • Starling tests Google Home payments - Finextra - "UK challenger bank Starling has been experimenting with Google Home, integrating its API with the smart speaker to enable users to carry out balance queries and payments through voice commands."
  • News stories on retailing
  • Amazon plans to sell beer and wine at its new high-tech convenience store - recode - "Dubbed Amazon Go, the store concept allows shoppers to grab prepared food and drinks off of shelves and automatically be billed without stopping to pay on the way out. Amazon accomplishes this feat by making shoppers scan an app on the way in, and then uses a mix of sensors, cameras and computer vision to track the items that each customer takes. When the computers can’t figure it out, humans step in."
  • Nordstrom’s big, beautiful stores are losing ground - Seattle Times - "And Nordstrom, like other retailers, is being buffeted by a sea change in consumer spending habits. It’s not just that purchases are increasingly shifting online. It’s also that mall traffic is reportedly declining, shoppers are more apt to flock to discounters such as T.J. Maxx, and consumers are looking to spend their money on experiences rather than things."
  • Not All Big Box Stores Are Dead: Wal-Mart, Home Depot Buck Shopping Slump - Wall Street Journal - "Wal-Mart Stores Inc. and Home Depot Inc. on Tuesday showed they can still find ways to entice shoppers to their physical stores, despite a continuing consumer shift toward online buying. Both big box retailers reported strong sales over the holiday season, unlike other brick-and-mortar competitors such as Target Corp. and Macy’s Inc., showing that some retailers are managing to capitalize on a strengthening economy."
  • Kroger CIO Takes Tech to the Grocery Aisles - Wall Street Journal CIO Journal blog - "Kroger Co., whose 2,778 stores make it the largest supermarket chain in the U.S., has deployed technology in stores to blend the in-person and online shopping experience. The company faces growing threats from rivals such as Amazon.com Inc. and Wal-Mart Stores Inc., which are boosting efforts to sell groceries in multiple channels. "

ON THE WIRES

  • Bank Card Default Rate Hits 42-Month High In January 2017 According To S&P/Experian Consumer Credit Default Indices - "Data through January 2017, released today by S&P Dow Jones Indices and Experian for the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, shows the composite rate up three basis points from the previous month at 0.92% in January. The bank card default rate recorded a 3.21% default rate, up 26 basis points from December. Auto loan defaults came in at 1.06%, up three basis points from the previous month. The first mortgage default rate was 0.72%, up one basis point from December."
  • ProfitStars Introduces Gladiator Incident Alert for Complex Risk Monitoring and Management - "ProfitStars developed Gladiator Incident Alert as a scalable means to identify deep-level threats that may go unseen through traditional protection mechanisms such as firewall prevention and endpoint security. The solution, leveraging "sandbox" technology, obtains detailed information about malware behavior and alerts the financial institution of suspicious activity with detailed warnings that enable quick assessment and response."
  • Introducing Paymetric BillPay for Managing Electronic Invoice Presentment and Payments in the Cloud - "Paymetric, Inc., a global leader of integrated, secure electronic payment acceptance solutions for the enterprise announced today the release of Paymetric BillPay, a new solution that manages electronic invoice presentment and payments from the cloud for businesses."
  • GSMA Urges Policymakers to Advance the Digital Economy in New Report - "Digital and mobile technology is transforming the everyday life of billions of people around the world. As an example, until recently, the cash-based system for paying school registration fees in Côte d’Ivoire led to multiple problems, including time wasted by parents standing in long queues and the risk of robbery, which threatened the safety of parents and children and reduced Ministry of National and Technical Education (MENET) revenue collection. In 2011, MENET began collaborating with mobile money providers to digitalise annual school registration fee payments for approximately 1.5 million secondary school students. In the 2014-2015 school year, more than 99 per cent of students paid their registration fees digitally, with 94 per cent of payments made via the country’s three mobile money providers."

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.

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!

February 21, 2017

Headline News from PaymentsNews.com - February 21, 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

  • Episode 48 – APIs, ACH, and Faster Money – Dwolla - Glenbrook’s Payments on Fire podcast - "Sometimes a change in direction is the way forward. Network aspirant Dwolla has recently pivoted its work toward the product and development teams inside financial institutions. Instead of being a system operator, Dwolla now offers a broad set of APIs designed for those FIs to take advantage of the ACH’s overnight and Same Day ACH services. Dwolla’s shift also comes as the company and the US anticipates the impact of new immediate funds transfer systems Zelle, The Clearing House, and likely others."
  • EBA to relax controversial PSD2 authentication rules - Finextra - "In a speech in London on the EU's revised Payments Systems Directive (PSD2), which is set to come into force in January 2018, EBA chairman Andrea Enria said that the proposed standards would be modified to raise the threshold to EUR30 for remote consumer transactions, although there would be no exemption for corporate payments. Firms which use 'transaction risk analysis' to keep a lid on fraud will also be offered a get-out clause, as will payments at unattended terminals, such as parking meters or transport tickets. The use of transaction risk techniques will be monitored over an 18-month period to ensure that safeguards are working to reduce fraud rates. "
  • NPCI, Mastercard and Visa unveil standardised QR code mobile payments for India - NFC World - "Indian consumers can now make QR code-based mobile payments using BharatQR, a “low cost, interoperable mobile acceptance solution” backed by the Indian government and developed by Mastercard, Visa and National Payments Corporation of India (NPCI). The service is supported by American Express and 14 national banks."
  • Ant Financial to Invest $200 Million in South Korea’s Kakao Pay - Wall Street Journal - "Ant Financial Group, which is seeking to challenge global payment powerhouses Visa Inc. and MasterCard Inc., will invest $200 million in Kakao’s payments unit, with the two expected to form Kakao Pay Corp. as a subsidiary of Kakao by early April. Already this year Alibaba has made deals with U.S.-based money-transfer company MoneyGram International Inc. and the Philippines’ Globe Telecom, adding to existing arrangements in North America, Europe and across Asia."
  • Visa and IBM Watson commit to putting payments inside cars and wearable devices - Venture Beat - "“We share a vision of commerce-based IoT where any device, from a watch, ring, an appliance, or car, can be used to make a purchase. Our goal is to enable commerce on any connected device anywhere,” said IBM Watson general manager Harriet Green during a press conference."
  • Facebook Messenger Now Lets You Send Money With Transferwise - Bloomberg - "International money transfer service TransferWise Ltd. has announced an integration with Facebook Inc.’s Messenger that will let people set up foreign exchange transactions over the chat service. London-based TransferWise launched the technology as a bot -- a piece of automation software that understands natural language -- baked within Messenger. The bot, which is free to use and doesn’t affect prices or rates offered, will talk users through the process of arranging an international money transfer with TransferWise."
  • Apple buys Israel’s facial recognition firm RealFace – report - Times of Israel - "Apple Inc. has acquired Israel’s Realface, a cybertechnology startup whose facial recognition technology can be used to authenticate users. This is Apple’s fourth acquisition in Israel, the financial website Calcalist reported Sunday, and the deal is estimated to be worth a couple of million of dollars."
  • Russian mobile network MTS launches first phase of Money Wallet payments, transfer and loyalty service - NFC World - "Russian mobile network operator MTS has launched MTS Money Wallet, an online payments and money transfer service that incorporates loyalty points, offers and discounts, and is to be expanded to transport and in-store payments via NFC, SMS and USSD technologies later this year."
  • Swift is Recruiting Banks for Blockchain Tests - Coindesk - "According to Swift, recruits will include banks with strong liquidity practices for its proof of concept (PoC), which is aimed at replacing the antiquated nostro and vostro account system of settling cross border payments. The theory is that, by eliminating the dormant foreign exchange reserves held on the books of other banks, participants in the PoC will see a higher rate of return to shareholders since they are able to put the nostro/vostro capital into interest-earning assets."
  • Ingenico Readies Its POS App Marketplace for U.S. Merchants And Acquirers - Digital Transactions News - "The app store, dubbed the Marketplace, works with France-based Ingenico’s Telium line, which includes the Telium Tetra operating system, countertop, mobile and multilane POS terminals, access to more than 2,500 payment applications, and a device-management service. It launched in 2014, and has been available in some international markets. Its U.S. entry was delayed by the migration to EMV acceptance. With that under way, the time is right to bring Telium to the United States, Ben Wagner, director of product solutions for Ingenico Group North America, tells Digital Transactions News."
  • Walgreens integrates rewards program into Android Pay - Mobile Commerce Daily - "“Integrating our Balance Rewards loyalty program with Android Pay on all of the Equinox checkout terminals in our stores nationwide is another example of how we are always looking to enhance our customers’ in-store experience,” said Abhi Dhar, chief digital officer of Walgreens Boots Alliance & CIO at Walgreens. “It was evident just last month during the holiday shopping season that many of our Balance Rewards members enjoy the benefits of linking our loyalty program with mobile payments."
  • Facebook on course to be the WeChat of the West, says Gartner - TechCrunch - "It’s the beginning of the end for smartphone apps as we have known and tapped on them, reckons Gartner. The analyst is calling the start of a “post-apps” era, based on changes in consumer interactions that appear driven, in large part, by the rise of dominant messaging platforms designed to consume more and more of mobile users’ time and attention. It figures messaging apps will become more popular than social media apps within the next two years."

ON THE WIRES

  • Gulf Oil Announces New Gulf Pay Mobile App - "Gulf Oil today announced the launch of a new mobile payment application, Gulf Pay. The new offering, powered by P97's PetroZone® mobile commerce platform, will enable Gulf customers to navigate to the nearest Gulf gas station, pay for fuel at the pump, and purchase products inside the convenience store utilizing fast, simple, and secure mobile payment technology."
  • Radial and Klarna Partner to Integrate a Seamless Financing Option at Checkout, Driving Ease for Customers and Order Value for Retailers - "Klarna, one of Europe's leading payments providers, and Radial, the leader in omnichannel commerce technology and operations, today announced a new partnership to further expand Radial's payment options. The integration of Klarna with Radial's Payment platform enables clients and prospects to offer a financing option at checkout to give customers more choice and could give retailers a 58 percent higher order value."
  • Shopgate Joins Salesforce Partner Program to Drive Customer Success with Salesforce Commerce Cloud - "Shopgate today announced that it has joined the Salesforce Partner Program in support of Salesforce Commerce Cloud, the fastest path to unified commerce. Commerce Cloud enables brands to provide personalized experiences for shoppers that span web, mobile, social and in-store. And now, as part of the world’s #1 CRM platform – Salesforce – brands can deliver completely unified experiences for customers that extend beyond commerce to include marketing, customer service and more."

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.

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!

February 17, 2017

Headline News from PaymentsNews.com - February 17, 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

  • The Clearing House calls for overhaul of AML practices - Finextra - "US bank lobby group The Clearing House has called for an overhaul of how its members deal with AML requirements, arguing that they should spend less time and money on submitting suspicious activity reports and instead concentrate on using more innovative methods to thwart money laundering and terrorist financing."
  • Top 3 technologies revolutionizing ecommerce - Mobile Commerce Daily - "We analyzed the top 3 most successful technologies impacting the ecommerce industry today."
  • Bank of Canada: Digital Currencies Need Regulation to Succeed - Coindesk - "Researchers from Canada's central bank argue that private digital currencies like bitcoin won't succeed in the long-term without some kind of government involvement."
  • Kenyan banks roll out PesaLink real-time direct P2P mobile payments - NFC World - "Kenya’s new digital payments platform PesaLink, that will enable consumers to make real-time mobile person-to-person (P2P) payments from US$0.10 up to US$9,650 at any time without having to go through intermediaries, is “expected to cut the cost of transactions and transform the way consumers interact with their banks”, the Kenya Bankers Association (KBA) says."
  • Fujitsu Announces Biometric Authentication Platform for the IoT - Mobile ID World - "The system takes an on-device approach to biometric data, adhering to FIDO Alliance standards. When a user needs to access an IoT device or service, she needs only to perform a biometric scan for authentication on her smartphone; confirmation of authentication then passes through a secure connection to a cloud-based server, while NFC technology is used to confirm that the user is in proximity to the IoT device or service she is trying to access."

ON THE WIRES

  • EMV Payment Card Market Struggles Amidst Overstocking Issues and Near Saturation Levels in China and the U.S. - "ABI Research finds global EMV payment card shipments reached just under three billion in 2016, marking a year-on-year (YoY) increase of less than 1%. Between 2012 and 2015, the market became accustomed to annual growth rates in the 20% to 35% range, as first China and then the U.S. began their respective migration programs. But as overstocking, paired with near saturation points, hit both countries simultaneously, orders significantly slowed in 2016 to impact the overall market."

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.

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!

February 16, 2017

Headline News from PaymentsNews.com - February 16, 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

  • Caring for Smart Chip Cards - New York Times - "Like their magnetic-stripe predecessors, the smart chips on the front of the card can be damaged by scrapes from keys, coins and other items with sharp edges. Exposure to liquids and other substances can also harm the chip. "
  • IBM links with Indiegogo, Visa, Bosch and more in $3B IoT push - TechCrunch - "The Visa deal will see IBM embed Visa’s tokenization technology (the security layer for mobile and other transactions that means no payment details get stored in the payment instrument) into its Watson IoT platform. This will mean that any connected device on a network powered by Watson can become a point of sale. This will be the first time that a company has worked with Visa — which powers 60 percent of the world’s transactions — to monetize IoT, IBM says. (Likely use cases will involve large networks of payment points in retail or public locations, for example.)"
  • State Bank of India Launches New Blockchain Finance Consortium - Coindesk - "India’s largest bank is spearheading a newly unveiled consortium focused on blockchain applications. According to local news outlets, the State Bank of India – which Fortune says held nearly $450bn in assets as of last year – is partnering with several technology firms and a group of domestic commercial banks on a new initiative dubbed ‘Bankchain’."
  • Kenya Bankers Association develops banking industry switch with Tieto - Payments Cards & Mobile - "The Tieto-developed payments software will enable KBA, via a subsidiary company called Integrated Payments Service Limited (IPSL), to develop instant payment services for the 45 KBA-member banks, becoming the first real-time interbank transaction platform in East-Africa region."
  • The Art of the Invisible Payment - FIS Payments Leader blog - "Invisible payments are quickly becoming mainstream, with a variety of approaches designed to make paying invisible and effortless."

ON THE WIRES

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.

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!