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March 29, 2017

Headline News from PaymentsNews.com - March 29, 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

  • Demonetization Roulette: India’s unusual approach to creating a cashless economy - Glenbrook’s Payments Views (Shiv Vadivelalagan) - "On November 8, 2016, India cancelled 86% of its currency in circulation with a four-hour notice and the move pushed India into a severe currency shortage. In a country where 98% of all consumer payments are in cash, this prolonged currency shortage carries risks: economic destabilization in the short term and irrevocable damages to the vibrant informal sector in the long run. Policy analysts describe the situation as the greatest gamble undertaken by modern India."
  • E-commerce fraud rates spike 33% in 2016 - Experian blog - "Experian analyzed millions of e-commerce transactions from our 2016 client data to identify fraud attack rates for both shipping and billing locations across the United States. The data reveals the increase of e-commerce attacks in 2016, the geographical differences, and whether a credit card has been stolen or personal credentials have been compromised."
  • Transnational Crime and the Developing World - Global Financial Integrity - " The combination of high profits and low risks for perpetrators of transnational crime and the support of a global shadow financial system perpetuate and drive these abuses. The report also emphasizes how transnational crime undermines economies, societies, and governments in developing countries."
  • Waze gets into the order-ahead business with Dunkin' Donuts - Chicago Tribune - "On Tuesday, the Google-owned app will start letting drivers purchase coffee and other items from Dunkin' Donuts for pickup along their way. It's the first time that Waze has offered this kind of "order ahead" option, but unlikely to be the last."
  • Danish Consumers can now pay with Dankort on their Mobile - Fintech Finance - "Members of the BOKIS banking collective have become the first in Denmark to offer mobile payments using Dankort, the national debit and credit card. Last month the collective launched a digital wallet that allows consumers with an Android device to make contactless mobile payments. Today it is launching a mobile wallet for iPhone and, for the first time, is enabling customers to link their Dankort to their device."
  • Bitbond and BitPesa to Simplify Business Financing in Africa - Finance Magnate - "BitBond, a German firm facilitating p2p loans via the bitcoin blockchain, announced today that it is teaming up with payment services provider BitPesa to improve access to financing for small business in Africa. The integration is now live in Kenya, Nigeria, Uganda and Tanzania."

ON THE WIRES

  • IBM X-Force Finds Historic Number Of Records Leaked And Vulnerabilities Disclosed In 2016 - "IBM (NYSE: IBM) Security today announced results from the 2017 IBM X-Force Threat Intelligence Index which found the number of records compromised grew a historic 566 percent in 2016 from 600 million to more than 4 billion. These leaked records include data cybercriminals have traditionally targeted like credit cards, passwords and personal health information, but IBM X-Force also noted a shift in cybercriminal strategies. In 2016, a number of significant breaches related to unstructured data such as email archives, business documents, intellectual property and source code were also compromised."
  • Blackhawk Network Announces New Incentives Business Name: Hawk Incentives - "Blackhawk Network—a pioneer of gift cards, payments tools and rewards delivered via a robust and convenient network—today announced a new identity for its incentives business: Hawk Incentives. Hawk Incentives is intended to support long-term growth strategies and to create efficiencies improving customer and partner experiences. Additionally, the positioning aligns with Blackhawk's retail and digital consumer business structure called Hawk Commerce, which was announced late last year."
  • Revel Announces Integration With Dragontail Algo System at Pizza Expo 2017 - "Revel Systems, a feature-rich business platform transforming the way business is done by integrating all operations and customer channels, driven by the point-of-sale, into a single dashboard, today announced a partnership at Pizza Expo 2017 in Las Vegas with Dragontail Systems, a company revolutionizing the QSR industry through automating technology and artificial intelligence, to implement their Algo System and Camera Cutting Station technology into restaurant and quick service operations."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. 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!

March 28, 2017

Headline News from PaymentsNews.com - March 28, 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 49 – How to Get, and Stay, Smart in Payments - Glenbrook’s Payments on Fire podcast - "Want to know what it takes to stay smart in payments? Take a listen to Russ Jones, the Partner in Charge of Glenbrook’s Payments Boot Camp program. Russ gives a look behind the scenes, talks over the boot camp’s evolution, and how it stays forward looking in what’s become a fast changing industry. Over 13,000 payments professionals have experienced the Payments Boot Camp Russ talks about in this Payments on Fire podcast."
  • Amazon to Launch Grocery Pickup Stores in Seattle - Wall Street Journal - "AmazonFresh Pickup will allow customers to choose from thousands of items online and reserve a time for pickup, according to the company. Orders will be ready in as little as 15 minutes, and there is no minimum-order limit. Amazon will select the food, bag it and deliver it to customers’ vehicles."
  • Wells Fargo Card Requests Drop by Most Since Scandal Erupted - Bloomberg - "Wells Fargo & Co. said credit-card applications dropped 55 percent in February from a year earlier, the biggest decline since a scandal involving fake accounts erupted in September."
  • Payments company Square launches in the U.K., its first European market and fifth globally - Venture Beat - "Mobile payments company Square is finally landing in Europe with the news today that it’s now open for U.K.-based business owners. This launch represents the fifth market for Square, after the U.S., where it has been available since 2010, Canada (2012), Japan (2013), and Australia (2016)."
  • Nordea Bank: PSD2 will require banks to adopt a ‘totally new way of viewing their customer base’ - NFC World - "Significant confusion and a high level of fragmentation can be expected over the next five years as European financial institutions become accustomed to new regulations under the Payment Services Directive (PSD2) which will open the door to new competition within the European payment services market, says Nordea Bank’s vice president of strategic business development, transaction banking and business innovation."
  • Wells Fargo to add NFC mobile withdrawals to ATMs later this year - NFC World - "Customers of US bank Wells Fargo will be able to withdraw cash from ATMs using an NFC-based mobile payments service such as Apple Pay, Android Pay and Samsung Pay when the bank rolls out an upgrade across the US “later this year”. "
  • Swedish Startup Truecaller Gets Into Mobile Payments in India - Bloomberg - "The caller-ID service and spam-filtering startup announced on Tuesday that users can send and receive money through its smartphone app without passwords or banking codes. The service links bank accounts and sits atop Truecaller’s mobile-identity service, which was the third-most downloaded app in India last year."
  • Wal-Mart Reorganizes Tech Group to Strengthen Mobile - Wall Street Journal CIO Journal blog - "Wal-Mart sees the mobile device as the linchpin of a customer experience that blends online and in-store shopping, with the retailer’s mobile app and mobile payments service playing significant roles. One key project under that concept is rethinking how pharmacy customers order and pick up prescriptions, Ms. Tan said."
  • Mobile device malware report reveals all-time high in mobile device infections - Payments Cards & Mobile - "The latest Threat Intelligence Report reveals a new all-time high in mobile device malware infections, a sharp increase in compromised smartphones and major IoT device security vulnerabilities."

ON THE WIRES

  • Visa and Viewpost to Accelerate Electronic Bill Payments for U.S. Businesses - "Visa Inc. (NYSE:V) and Viewpost®, a secure B2B network for electronic invoicing, payments and real-time cash management, today announced an exclusive partnership to bring electronic business payments to Viewpost’s small to medium-sized business clients (SMBs). By using Visa virtual commercial cards through their participating financial institutions, SMBs will increase automation, convenience and security for their B2B transactions."
  • CPI Card Group Highlights End-to-End Solutions & Emerging Payment Technology Innovations at the Smart Card Alliance Payments Summit & ICMA Expo - "CPI Card Group (Nasdaq:PMTS, TSX:PMTS), a global leader in financial and EMV® chip card production and related services, today announced a broad set of activities during the co-located Smart Card Alliance (SCA) Payments Summit and International Card Manufacturing Association (ICMA) 2017 Card Manufacturing & Personalization EXPO, held March 27-30 in Orlando. Event attendees will have the opportunity to experience CPI Card Group’s depth and expertise as a leading end-to-end payment solutions provider, as well as its industry foresight and vision, through speaking sessions, panels and demonstrations at the Company’s booth (#401)."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. 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!

March 27, 2017

Headline News from PaymentsNews.com - March 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

  • U.S. Supreme Court won’t review Visa, Mastercard fees settlement - Wall Street Journal - "The high court in a brief order said it won’t review a federal appeals court decision from last June that invalidated the settlement. In that ruling, the New York-based 2nd U.S. Circuit Court of Appeals said the settlement was problematic because some groups of merchants weren’t adequately represented."
  • Now negotiable: Credit-card annual fees - Wall Street Journal - "More than 80% of people who ask their card company for relief from their annual fees receive it, according to a new survey. Most get the fee waived entirely, while a smaller portion receive a fee reduction, according to a CreditCards.com report released Monday that surveyed around 950 card users."
  • Bye-Bye Benjamin: The Digital Money Case for Phasing Out the $100 Bill - Wall Street Journal blog - "Two top American economists have recently suggested that the U.S. should seriously consider variations of Mr. Modi’s bold move. At a panel on Ending Corruption at the World Economic Forum 2017 annual meeting in Davos, Joseph Stiglitz, a Columbia University professor and Nobel Prize-winning economist, said that phasing out currency and moving towards a digital money economy would, over the long term, have “benefits that outweigh the cost.”"
  • Amazon delays convenience store opening to work out kinks - Wall Street Journal - "Amazon Go was due to launch to the public by the end of the month, after launching in beta mode to employees in December, according to people familiar with the matter. It is unclear when it will now open, as it works out kinks in the technology to automatically charge customers when they leave, instead of needing to have cash registers, checkouts and lines."
  • Biometric Brits suffer from password fatigue, Equifax - IBSintelligence - "56% of Brits would prefer to use a biometric security method over traditional options like passwords to log into their financial accounts online, according to Equifax research. A survey, conducted by YouGov and involving 2,059 people, found that 33% would prefer to use fingerprint recognition as a security method to access their accounts. A further 13% would like to use iris scanners, 7% facial recognition, and 3% voice recognition."
  • Evo Payments Said to Explore Sale That Could Fetch $2 Billion - Bloomberg - "The company has drawn interest from potential buyers including Vantiv Inc., one of the people said. No final decision has been made and the company could decide to remain independent. Exploring both a sale and an IPO, known as a dual-track process, is common for private equity-owned companies as a way to determine the best exit for an investment."
  • This Bitcoin Botnet is Vying to Be Future of Secure IoT - Coindesk - "NeuroMesh's idea is to mimick the same tactics hackers use when trying to compromise machines in the first place – installing lightweight code that hijacks the kernel and then dials out to a command and control (C&C) server, adding the machine's resources to a botnet directed by the bot 'herder'."
  • Deutsche Bank reduces check clearing in euros in Middle East - Reuters - "The bank said it was phasing out check clearing globally and setting up a new digital global payments platform instead, although it would keep up the check business with bank clients generating decent business, the source added. Checks accounted for just 6 percent of the total mix of global non-cash transactions in 2014, compared with 65 percent for cards, 12 percent for direct debits and 17 percent for credit transfers, according to Capgemini Financial Services and the Bank for International Settlements."

ON THE WIRES

  • Tradeshift Launches New AI Layer on Platform, Creating Simplified Commerce - "Tradeshift, the world’s largest business commerce platform, today announced the release of Tradeshift Ada, the world’s first smart interface for B2B commerce that offers new automation capabilities to help users accelerate how they buy, pay and collaborate."
  • D+H Accelerates Adoption of European Instant Payments by Providing a Cloud Test Environment for European Banks - "DH Corporation (TSX: DH) ("D+H"), a leading provider of technology solutions to financial institutions globally, today announced that it is offering a cloud-based instant payments testing environment for the European market. The testing environment will provide simulated connectivity to EBA CLEARING's pan-European instant payment infrastructure solution, which is aimed at supporting European payment service providers in fully complying with the European Payments Council's SEPA Instant Credit Transfer (SCT Inst) Scheme. This environment will enable banks adhering to the SCT Inst Scheme to utilize D+H's web and mobile instant payments initiation channels and payment hub solution to experiment with and test instant payments quickly, easily and with low risk."
  • NXT-ID and Fit Pay, Inc. Announce Letter of Intent to Combine Their Businesses - "NXT-ID, Inc., a security technology company, and Fit Pay, Inc., a privately held provider of payment, credential management, and authentication platform services, today announced that the companies have entered into Letter of Intent to combine their businesses in a deal that includes stock and cash consideration. NXT-ID will not be raising additional capital to complete this transaction."
  • Total Merchant Services Expands Integrated Payments Technology for Developers - "Total Merchant Services, a leader in payment services and solutions, today announced its expanded suite of Groovv Integrated Payments APIs and SDKs for software developers and Independent Software Vendors (ISVs). Free to implement, the tools make it easy for developers to integrate payments seamlessly into their software or websites while meeting compliance requirements. Further, ISVs using Groovv Integrated Payments in their point of sale (POS) or business management solutions earn revenue share when their customers process transactions."
  • Industry Veterans Form New Card Company, Fair Square Financial - "A team of former executives and experts from leading credit card issuers announced today the market launch of new consumer credit cards under the brand "Ollo". The newly-formed company, Fair Square Financial Holdings, ("Fair Square Financial" or "the Company"), has received a substantial equity commitment to finance card issuance from Pine Brook, an investment firm focused on building financial services businesses."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. 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!

March 24, 2017

Headline News from PaymentsNews.com - March 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

  • Demystifying India’s Digital Payment Infrastructure - Payments Views (Glenbrook’s Shiv Vadivelalagan) - "There is a growing curiosity about India’s payments systems. These systems, and their role in the “India stack”, have been the subject of many articles speculating their importance in shaping India’s future. Despite this attention, there is still considerable confusion about what these initiatives are, and how they interact with each other. "
  • Starbucks to add gift cards to iMessage as Mobile Order & Pay grows - NFC World - "Starbucks customers across the US will soon be able to purchase gift cards using Apple Pay and send them to friends and family within Apple’s iMessage platform. The move comes as the coffee giant reveals it now has approximately nine million mobile paying customers with one in three using Mobile Order & Pay, which accounted for 8% of all transactions made across US stores last month."
  • SAMSUNG, SMARTLINK AND INGENICO WIDEN DIGITAL PAYMENT ACCESS WITH NEW SOLUTION - Cards International - "The new solution, Contactless Companion Platform (CCP), has been designed to expand access to contactless payments beyond owners of NFC-enabled smartphones, and even to those who do not own a payment card and bank account. CCP enables users make digital cash payments through a tiny NFC chip that can be embedded into any contactless device of their choice, such as a dedicated smart card, wristband, key fob, or mechanical watch or smart ring. "
  • Esso customers get mobile payments and rewards at 1,000 Canadian gas stations - NFC World - "“Once you have registered and onboarded at least one payment card, open the Speedpass+ app and select Pay for Fuel,” the company adds. “Then, complete the simple transaction process on your smartphone.”"
  • Amazon Takes a Gamble on Middle Eastern E-Commerce - New York Times Dealbook - "The Seattle-based company is paying less than $1 billion for Souq.com, a Middle Eastern e-commerce upstart. Amazon gets a low-cost toehold in a region that is hard to conquer. That said, overseas buyers have a history of regretting purchases of shiny objects in this labyrinthine market."
  • Keep Calm and Bitcoin On? Developers Aren't Worrying About a Fork - Coindesk - "The community is in a bit of a frenzy over the possibility, with some traders liquidating positions and others fretting over a post-fork attack on the old chain. Yet, not everyone thinks that a fork will occur."
  • MAS to roll out national KYC utility for Singapore - Finextra - "The Monetary Authority of Singapore (MAS) is piloting a national know-your-customer (KYC) utility for financial services, based on the MyInfo digital identity service, jointly developed by the Ministry of Finance and GovTech, the lead agency for digital and data strategy in Singapore."
  • The end of smartphone innovation - Benedict Evans - "Really, though, this reflects where we are in the product cycle. New technology of any kind tends to follow an S Curve - at first improvement and innovation seems slow as the fundamental concepts are worked out, then there's a period of very rapid change, innovation and feature expansion, and then, as the market matures and the 'white space' is filled in, perceptible improvement tends to slow down."
  • Fraud Costs Foreign E-Commerce Retailers 22% More Than U.S. Brands - Retail Touch Points - "Non-U.S. retailers are particularly vulnerable, according to a study from LexisNexis. Non-U.S. retailers with an e-Commerce operation have the highest fraud-related costs as a percentage of annual revenue, with charges that are 22% higher than U.S. retailers, according to a study from LexisNexis. These merchants’ overall fraud costs are 85% higher than their brick-and-mortar-only counterparts."
  • Is Retail Subscription the Next Channel for Your Business? - MPP Global Solutions blog - "Right now, retail subscription is growing rapidly across the world, with countries such as the US, Japan, France and India leading the way. This growth in retail subscription is fueled by Generation Z and Millennials who are looking for more personal and convenient shopping experiences."

ON THE WIRES

  • Distil Networks Uncovers Sophisticated Gift Card Fraud Bot - "Fraudsters are using malicious automation to test a rolling list of potential account numbers and requesting each balance. If successful in obtaining the balance, fraudsters can resell the account number on the dark web or use them to purchase goods. GiftGhostBots are being distributed across worldwide hosting providers, mobile ISPs, and data centers, executing JavaScript to avoid detection. On one customer website, the analyst team recorded 4 million bad bot requests per hour -- nearly 10 times their normal level of traffic. On average, the operators of GiftGhostBot can test as many as 1.7 million gift card account numbers per hour."
  • Personally Identifiable Information Found on 40 Percent of Used Devices in Largest Study To-Date - "The National Association for Information Destruction® (NAID®) announced today the results of the largest study to date of the presence of personally identifiable information (PII) on electronic devices sold on the second hand market. The study showed that 40 percent of devices resold in publicly-available resale channels contained PII. NAID commissioned CPR Tools, Inc. to analyze the used devices, which included used hard drives, mobile phones and tablets."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. 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!

March 23, 2017

Headline News from PaymentsNews.com - March 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

  • Banks and Tech Firms Battle Over Something Akin to Gold: Your Data - New York Times Dealbook - "The big banks and Silicon Valley are waging an escalating battle over your personal financial data, including the amount you spent on dinner last week and how much you are paying for your mortgage."
  • LG to launch mobile payments service using magnetic communication technology - NFC World - "LG will launch its LG Pay mobile payments service in Korea in June this year using a mobile payment technology that works by “generating a magnetic signal from a mobile device such as a smartphone, and paying it to a general credit card terminal”. The hardware has already been built into the LG G6 smartphone, and the company has secured support for the service from seven Korean credit card companies."
  • Cloud-Based TouchPass Brings a Subscription Model to Transit Agencies for Fare Payments - Digital Transactions News - "The subscription model is coming to payments for transit fares. Delerrok Inc., a transit fare-system provider, launched TouchPass this week, a fare-collection service that transit operators pay for via a subscription."
  • Westpac launches payments keyboard for chat apps - NFC World - "Customers of Australian bank Westpac will soon be able to use an innovative replacement for the default keyboard found in social messaging apps such as Facebook Messenger and WhatsApp to make P2P money transfers to friends, family and businesses as well as send cardless cash codes to recipients for ATM withdrawals."
  • Tencent Plans E-Book IPO as Ma Boosts Spending on Services - Bloomberg - "“The payments service is treated as an infrastructure, that’s why even as user numbers grow fast, bank fees grow as well, so what we generate is similar to what we invest,” Ma told reporters in Hong Kong. “A lot of our cloud business is also in the investment phase, that’s why costs in the short term will be high.”"
  • Kenya sells bond over mobile phones in world first - Reuters - "Kenya began selling a government bond exclusively via mobile phones on Thursday, a world first aimed at expanding the pool of investors in a country that needs money for infrastructure projects and where many people don't have a bank account."
  • European Commission opens public consultation on fintech - Finextra - "The Commission is understood to be pondering the adoption of an EU-wide licence for tech companies in the financial services sector to operate across Europe. Other options on the table include the creation of a regulatory framework and sandbox environment covering the entire Union."
  • SAP Ariba Inks Blockchain Supply Chain Partnership With Everledger - Coindesk - "Announced today, the move will see SAP Ariba deploy the tech for use in supply chain applications, one of the services the company provides. According to SAP Ariba, more than 2.5m companies utilize its offerings. Everledger, based in London, uses blockchain to track the provenance of diamonds and other assets."
  • Montblanc Launched a Smartwatch. Here's Why It Matters - Business of Fashion - "The Montblanc Summit, based on Google's Android Wear 2 platform, aims to compete with, among others, the Apple Watch and rival Swiss brand TAG Heuer's Connected Watch (which was released last year and will get an upgrade likely to be announced this week)."
  • IRS and Zoho Books Now Integrated with PayPal - PayPal stories blog - "Pay your IRS income taxes with PayPal. Get an extra six months to pay with PayPal Credit. We’re excited to announce that starting this year, more than 90 million active PayPal users in the U.S. can now pay their federal income taxes to the IRS with their PayPal account."
  • MAYBANK, CIMB TO ALLOW CONTACTLESS PAYMENTS VIA ALIPAY IN MALAYSIA - Cards International - "Malayan Banking and CIMB Bank have partnered with Ant Financial Services Group, an affiliate of e-commerce giant Alibaba Group, to provide Alipay as an alternative of cashless payment for Chinese tourists visiting Malaysia."
  • Android O to Autofill Credit Card Forms - Google developers blog - "Users can save time filling out forms by using autofill in their devices. Android O makes filling forms, such as account and credit card forms, easier with the introduction of the Autofill Framework. The Autofill Framework manages the communication between the app and an autofill service."
  • eBay Asks Users to Downgrade Security - Krebs on Security - "Last week, KrebsOnSecurity received an email from eBay. The company wanted me to switch from using a hardware key fob when logging into eBay to receiving a one-time code sent via text message. I found it remarkable that eBay, which at one time was well ahead of most e-commerce companies in providing more robust online authentication options, is now essentially trying to downgrade my login experience to a less-secure option."

ON THE WIRES

  • Survey: Acquirers Divided on How PCI Compliance Impacts Merchant Retention - "ControlScan, a trusted security and compliance program partner to the payments industry, in partnership with Merchant Acquirers' Committee (MAC), has released key findings from the 2017 Acquirer PCI and Security Survey. Completed by more than 130 ISOs, acquirers, processors and payment facilitators, the survey's results support an ongoing effort to understand and share PCI compliance program practices among payments industry stakeholders."
  • New Secure Technology Alliance White Paper Describes the Role of Smart Card Technology to Enhance Security of Blockchain Applications - "To provide guidance for organizations implementing blockchain applications, the Secure Technology Alliance, formerly the Smart Card Alliance, released a white paper today that provides a primer on blockchain technology, and highlights the need for hardware security technology such as smart cards and embedded secure elements to protect and provide convenient user access to cryptographic keys."
  • PaySimple Introduces First Point-Of-Sale Software For Services - "PaySimple's new sPOS is a virtual terminal that provides customers the simplicity of point of sale with the power of a complete billing, payment, and customer management solution. The platform was designed to allow service-based businesses to sell their products and services through one easy-to-use interface, supporting omni-channel billing and payment collection."
  • Hyperledger Welcomes SAP as Premier Member - "Hyperledger, a collaborative cross-industry effort created to advance blockchain technology, announced today that SAP SE (NYSE: SAP) has joined as a Premier member. As part of SAP's Premier membership, Dominik Heere, Vice President, Innovation Engineering, SAP Innovation Center Network, will represent the company on the Hyperledger Governing Board."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. 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!

March 22, 2017

Headline News from PaymentsNews.com - March 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

  • Samsung Pay goes live across India with support for Paytm and UPI money transfers - NFC World - "Samsung Pay has launched in India with support from Visa, Mastercard, American Express, Axis Bank, HDFC Bank, ICICI Bank, SBI Cards and Standard Chartered Bank, with Citibank India support expected “shortly”. The service has also integrated India’s leading mobile wallet Paytm and comes with support for peer-to-peer (P2P) money transfers through the Indian government’s Unified Payments Interface (UPI) platform."
  • Gemalto knocked by slowing take-up of chip cards in U.S. - Reuters - "More than 1 billion euros was wiped off Gemalto's market value after the company said the slow take-up of cards embedded with so-called EMV chips to prevent counterfeit card fraud had caused an inventory build-up."
  • UK to roll out image-based cheque clearing system - Finextra - "The UK is to roll out an image-based cheque clearing system in October that will slash processing times from six 'weekdays' to one day and pave the way for the introduction of interbank mobile cheque deposits."
  • Circle Urges User Caution As Bitcoin Hard Fork Looms - Coindesk - "Payments startup Circle suggested in an email to users today that, in order to avoid the potential negative consequences of a hard fork on the network, they may want to to sell their bitcoins. In an email late Monday, Circle – which dropped support for buying and selling bitcoin in December, but still offers wallet services – outlined its contingency plan ahead of a possible network split."
  • PayPal Prompts Poland’s Banks to Team Up for Rival Payment App - Bloomberg - "Blik is incorporated in banks’ mobile applications and directly linked to users’ accounts. It bypasses card issuers and other outside mobile-banking providers, differentiating the system from those introduced by giants such as PayPal, Apple Inc. and Alphabet Inc. The move was also aimed at reducing transaction costs, though after card transaction fees were cut in Poland two years ago, the costs are now comparable."
  • AIR CHINA, INGENICO PARTNER TO ACCEPT DISCOVER CARD PAYMENTS IN NORTH AMERICA - Cards International - " Ingenico ePayments, the online and mobile commerce division of Ingenico Group, has reached an agreement with Chinese flag carrier Air China to offer airline the capability to accept Discover card payments in North America. The agreement will enable the Chinese airline to accept all cards on the Discover Global Network, via Discover Global Network’s strategic alliance agreements with issuers from around the world."
  • BlueSnap Expands Local Payment Processing Into Canada, Latin America - Retail Touch Points - "With the most recent expansion of its Powered Buy Platform, BlueSnap enhanced local acquiring into Latin America and Canada. In Latin America, the cost to sell locally can be cost prohibitive with up to 30% of a sale going to processing fees, taxes, etc. BlueSnap’s processing is designed to let merchants sell into Latin America at one-third of the cost, while maximizing conversions and coverage of alternative payment types and local cards."

ON THE WIRES

  • US Payments Forum Provides Guidance on Card-Not-Present Fraud with Perspectives on Experiences Around the World - "With card-not-present (CNP) fraud a global concern, many countries have deployed various fraud prevention tools to help curb fraud in both online and mobile channels. The U.S. Payments Forum reviews experiences from countries around the world to assist the U.S. payments industry in mitigating CNP fraud in a white paper released today. The white paper, “Card-Not-Present Fraud around the World,” can be downloaded at http://www.uspaymentsforum.org/cnp-fraud-around-the-world/."
  • Rites of Spring: Forager™ Launches to Ignite the Local Food Economy - "Forager's new online and mobile procurement-to-payment platform is designed to reduce costs and friction at every step of the process, making it so much easier to source locally. The company has already completed a successful regional pilot involving 100 farmers and 10 grocers, food-co-ops and wholesalers from Maine. Now they are rolling out the platform throughout New England and New York State."
  • PAYMENT21 AND ACI WORLDWIDE ENABLE ANTI MONEY LAUNDERING COMPLIANT BITCOIN PAYMENTS GLOBALLY - "Payment21® and ACI Worldwide today announced a strategic collaboration enabling payment service providers (PSPs) to offer merchants anti-money laundering (AML)-compliant Bitcoin acceptance via ACI’s UP eCommerce Payments solution. ACI’s network of more than 130 PSPs, serving more than 56,000 merchants, can now accept Bitcoin payments as a result."
  • Sionic Mobile Boosts Mobile Loyalty and Payments Platform With RevTrax SmartOffers - "Sionic Mobile and RevTrax today announced the integration of the ION Commerce Engine™ (ICE) mobile loyalty and payments platform with RevTrax SmartOffers®, enabling retailers and consumer packaged goods (CPG) providers to better engage and connect with millions of Rewards App users nationwide. Users will now have access to digital coupons for products at nearby retailers and free, exclusive perks on top of the instant rewards received for every mobile payment transaction."
  • National Contractor Insurance Program Launches Tech-Driven Direct Bill Offering - "Builders and Tradesmen's Insurance Services, Inc. (BTIS), a nationwide provider of insurance for the construction industry, has recently completed the roll out of the direct bill component for their Victory Contractor General Liability product. The direct bill option for the Victory product, known as BTIS DirectPay, is a comprehensive billing suite that provides an exceptional customer experience."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. 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!

March 21, 2017

Headline News from PaymentsNews.com - March 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

  • Walmart Expands Its E-Commerce Ambitions With a New Investment Arm - New York Times Dealbook - "Walmart announced on Monday that it had formed Store No. 8, an internal venture meant to hatch new online retail businesses. It is the latest sign that Walmart is trying to revamp its e-commerce playbook. That effort began in earnest last year, with the acquisition of Jet. And last week, Walmart struck a deal to buy ModCloth, an online purveyor of trendy women’s clothing."
  • Contactless overtakes traditional card payments in Hungary - Contactless Intelligence - "Contactless payments accounted for more than half of all transactions made with payment cards in Hungary in 2016, the country’s central bank says. “Whereas in 2015 contactless payments accounted for 30% of payments, in 2016 more than half (51%) of payments were conducted with the new technology,” says Magyar Nemzeti Bank (MNB)."
  • Threat or Opportunity? Blythe Masters Talks Blockchain Jobs Impact - Coindesk - "While industry numbers are only now beginning to be researched, Masters positioned blockchain in the same category as robotics, machine learning and artificial intelligence – all industries that she believes need to consider the impact of their innovations on public policy surrounding job creation."
  • Coinbase has added margin trading to its bitcoin exchange - Coindesk - "Eligible traders can now trade up to 3X levered orders on Bitcoin, Ethereum and Litecoin order books."

ON THE WIRES

  • linked2pay Deploys Online, Real-Time Card Underwriting for ISOs and Sponsor Banks - "linked2pay announced today the deployment of real-time delivery of merchant accounts to its Bank Centric Payments platform. Now, the company’s ISO and reseller partners can enroll with a participating sponsor bank to leverage a paperless, real-time process to register, underwrite and board their merchants for card processing. It also includes the ability to monitor and manage the ongoing risk of a portfolio by leveraging integrations with 3rd party business analytics service providers."
  • Inside Secure Delivers Application Protection to Defend against Malicious Attacks on Android Java Devices - "Inside Secure (Paris:INSD) (Euronext Paris: INSD), at the heart of security solutions for mobile and connected devices, today announced that it has released its Core security technology specifically for Android applications. Core for Android brings an unprecedented level of security capability in the Android environment by, for the first time, building a deep integrity network inside the applications. As a result, developers can create innovative applications confident that consumers can now more securely and safely make transactions managing sensitive personal data and information on their Android devices."
  • EnterCard Will Use Cloud-Based FICO Solution to Protect 1.7 Million Scandinavians from Fraud - "EnterCard, one of the leading Scandinavian finance companies, will use the FICO® Falcon® Platform to combat card fraud and communicate with its 1.7 million customers. The company, a joint venture between Swedbank and Barclays Bank, is upgrading to a cloud-based version of the Falcon solution to decrease fraud losses, enhance the customer experience and gain better control of the customer relationship. EnterCard will use the solution to protect customers in Sweden, Norway and Denmark from fraud."
  • To Accommodate Growth, Egyptian Banks Company Adopts ACI Worldwide's Next-Generation Retail Payments Solution - "ACI's retail payments solution will help power EBC and Egypt's salary programme, an initiative launched by the Egyptian government with the aim to reduce the amount of cash that is used for transactions in the country. The programme will see the salaries of more than five million government employees deposited into bank accounts or on prepaid cards. Additionally, banks are planning to offer financial services to the unbanked population and will be using the country's high mobile pentration rate of 98% to offer new services."
  • Net Element's Unified Payments to Offer Planet Payment's Multi-Currency Pricing Solution - "Net Element, Inc. (NASDAQ: NETE) ("Net Element" or the "Company"), a provider of global mobile payment technology solutions and value-added transactional services, today announces that its Unified Payments subsidiary entered into a partnership with Planet Payment, Inc. (NASDAQ: PLPM), a leading provider of international and multi-currency payment processing services, in which Unified Payments will offer Planet Payment's Multi-Currency Pricing to its portfolio of online merchants."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. 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!