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December 02, 2016

Headline News from PaymentsNews.com - December 2, 2016

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

ON THE WEB

  • Regulator Will Start Issuing Bank Charters for Fintech Firms - Wall Street Journal - "Financial-technology firms will soon have the chance to apply for new banking charters, under a plan from a top U.S. regulator designed to let thousands of upstarts grow nationally under federal oversight."
  • CIO Voices: Capital One’s Rob Alexander on How to Win in Banking - CIO Journal (WSJ) - "For Rob Alexander, CIO of Capital One Financial Corp., there’s little division between a bank and a technology company. “Technology is reshaping this business,” he says. “The winners will integrate banking into customers’ lives.”"
  • Why in-store mobile payments are still struggling - Mobile Commerce Daily - "This Black Friday, one of the trends that was noted by researchers from Cayan was the ratio of purchases made from regular card payments to purchases made with mobile payments. What they found was the mobile payments are sorely lacking in the physical retail world, making up less than 10 percent of all sales, with an average of .6 percent per state. That is more than last year but nowhere near the growth that was expected."
  • YayPay wants to help big companies deal with accounts receivable - TechCrunch - "YayPay is focusing on an interesting yet underserved niche — collecting payments from your customers. The startup is launching the second version of its platform today and now focuses on big companies with accounts receivable teams."
  • Apple Pay launches in Spain - NFC World - "Apple Pay has been officially launched in Spain, with Apple developing partnerships with Banco Santander, payment giants American Express and Mastercard, retailer Carrefour and prepaid meal payment service Ticket Restaurant."

ON THE WIRES

  • Visa to Acquire CardinalCommerce to Secure and Accelerate Digital Commerce - "Visa (NYSE:V) today announced an agreement to acquire CardinalCommerce, an industry leader in e-commerce payment authentication. The acquisition will enable more secure, seamless payments, whether made through a browser, mobile app, or connected device, and will help Visa’s clients and merchant partners accelerate digital commerce."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall 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!

December 01, 2016

Headline News from PaymentsNews.com - December 1, 2016

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 SEPA Instant Credit Transfer Scheme Rulebook is Published! - European Payments Council - "Today is a major milestone for European payments: the EPC publishes the first rulebook of the SEPA Instant Credit Transfer (SCT Inst) scheme. It will allow the transfer of initially up to 15,000 euro per single transaction in less than ten seconds, any time and any day, and in an international area that will progressively span over 34 European countries."
  • PayPal Delivers Business Services On-the-Go - PayPal blog - "To extend PayPal’s merchant services to millions of small businesses who need easy access to their account on the go, today we’re announcing availability of the new PayPal Business app, offering businesses an easy way to manage their PayPal account activity wherever business takes them."
  • American Express launches NFC mobile payments in Canada - NFC World - "American Express cardholders across Canada can now make NFC mobile payments using Amex Pay, a new feature added to the Amex App. The service is available for customers with eligible consumer, small business and corporate cards with compatible Android devices and the latest version of the mobile app."
  • As Web Sales Spike, Retailers Scramble to Ship From Stores - Wall Street Journal - "Two decades after Amazon.com Inc. was founded, traditional retailers are still struggling to manage hundreds of brick-and-mortar stores, while trying to maximize online sales. "

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall 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!

November 30, 2016

Headline News from PaymentsNews.com - November 30, 2016

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

ON THE WEB

  • Why Closing Bank Branches Isn’t Always a Road to Riches - Wall Street Journal - "One of banks’ favorite cost-cutting strategies in recent years has been closing branches. But a new study suggests the approach may soon backfire."
  • Bank of America chief: Payback from digital investment is long haul - Mobile World Live - "Bank of America’s (BofA) CEO, Brian Moynihan, told Reuters it may take 10 to 15 years before US banks see the benefit of investing in mobile payments and other tech. Moynihan foresees banks still carrying the cost of processing paper-based cheques and carrying physical dollars and cents for that period of time, according to an interview."
  • Bank CEOs fret about ROI as startups drive IT arms race - Finextra - "Innovations such as real-time payments - a hot topic throughout the conference as a result of The Clearing House’s initiative in this space - require banks to think differently about their expectations of ROI, the CEOs acknowledged. "
  • Hyperledger Blockchain Project Passes 100-Member Milestone - Coindesk - "Of the six new members, four are based in China. The new members include Beijing Botuzongheng Science & Technology Co, Shanghai Gingkoo Financial Technology, Sinolending and ZhongChao Credit Card Industry Development Co. Two US-based firms – Altoros Americas and the Chamber of Digital Commerce – have also joined."
  • Dutch bank launches HCE mobile payments app - NFC World - "Dutch bank ABN Amro has launched a mobile payments app for Android using host card emulation (HCE) technology, allowing customers to make purchases up to €2,500 (US$2,659) each day with smartphones running Android 5.0 or higher."
  • Two hackers are selling DDoS attacks from 400,000 IoT devices infected with the Mirai worm - BoingBoing - "Two criminals, Bestbuy and Popopret -- previously implicated in mass-scale corporate espionage -- are spamming the XMPP/Jabber instant messaging protocol with offers to rent out a 400,000-strong botnet of Mirai-infected devices, and the ad promises that their botnet is a significant improvement on the earlier Mirai infections, equipped with IP-address spoofing features that make it harder for the botnet's victims to block the incoming traffic."

ON THE WIRES

  • Foundation laid for pan-European instant payment solutions - "As tasked by the Euro Retail Payments Board (ERPB), the European Payments Council (EPC) today finalised the framework for pan-European instant payment solutions. The SEPA Instant Credit Transfer scheme paves the way for innovative payment solutions in euro, for example via mobile phone, from November 2017."
  • Consumer-driven payments play an increasing role in merchants' point-of-sale technology adoption. - "ControlScan and the Electronic Transactions Association (ETA) surveyed hundreds of SMB merchants to find out. View the consumer-driven payments infographic below to get point-of-sale technology adoption statistics and to learn the three questions merchant service providers should ask the SMBs they serve."
  • Mastercard Rolls out Artificial Intelligence across Its Global Network - "Current decision-scoring products are focused primarily on risk assessment, working within predefined rules. Decision Intelligence is a radical new approach that goes much further. It takes a broader view in assessing, scoring and learning from each transaction. That score then enables the card issuer to apply the intelligence to the next transaction."
  • Central banks are monitoring and fostering the development of fast payment services - CPMI - "The development and importance of fast payments services are the focus of a new report by the Committee on Payments and Market Infrastructures (CPMI), the global standard setter for payment, clearing and settlement services."
  • TSYS Signs Payments Agreement with Virgin Money - "TSYS (NYSE: TSS) today announced that it has reached a long-term agreement to provide debit processing services for Virgin Money customers within the United Kingdom. Virgin Money previously selected TSYS’ market leading TS2® platform to support its UK cards portfolio."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall 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!

November 29, 2016

Headline News from PaymentsNews.com - November 29, 2016

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

ON THE WEB

  • Apple Gets Win Against Australia Banks Over Mobile Payments - Bloomberg - "Apple Inc. scored a victory in the global battle to control the future of mobile payment technology after the Australian competition regulator refused to grant a group of local banks permission to negotiate collectively over the introduction of Apple Pay."
  • SpendTrend Report: Thanksgiving & Black Friday 2016 - First Data - "The 2016 holiday season is off to a solid start. First Data analyzed transactions from nearly one million merchants and found that overall sales growth was up 9% year-over-year, which represents solid growth on top of strong performance from the prior year. Electronics & Appliances saw the largest increase, with 27% growth year-over-year. This analysis is based on actual consumer transactions rather than surveys or speculation."
  • ATM Skimming Attacks Hit NY Hospitals - CU Info Security - "Local police are investigating ATM skimming attacks at four New York hospitals. Security experts warn that fraudsters will likely continue to target locations, including hospitals, where ATMs are not closely monitored and around-the-clock access to the terminals is available."
  • 1,000-Year-Old Royal Mint Will Soon Launch Blockchain Gold Trading - Coindesk - "As part of this larger drive, The Royal Mint has teamed with derivatives marketplace provider CME Group to build and launch a digital gold offering, one that could find it offering its users the ability to execute, settle and trade gold using a blockchain-based system."
  • Twyp mobile payments app service to close in Netherlands - NFC World - "P2P mobile payments app Twyp is to be closed down in the Netherlands from 15 December 2016 after customers there said they “don’t need or want a separate app to make payments to friends”."
  • Uber rival Grab hits the gas on its digital payments platform in Southeast Asia - TechCrunch - "Credit and debit cards can be used to load money into the GrabPay wallet, but it also supports online banks, local ATMs, local wallets and over-the-counter at selected convenience stores. The long-term goal Grab is banking on is that it can assemble a lengthy list of partners that makes GrabPay worthwhile for storing people’s cash for more than just transportation needs. I.e. reaching that point that a user can pay their water bill, use it to pay for a few groceries from 7-11 store, etc, using GrabPay."
  • EMV Shift Fires Up Online Holiday Season Fraud - Credit Union Times - "In the U.S., Thanksgiving and purchases just prior to Christmas have the highest fraud attempt rates. The expected peak-fraud attempt day is Christmas Eve, with nearly 2.5% fraud, due to the popularity of gift cards and last-minute shopping via buy online/pick up in-store availability."
  • San Francisco Rail System Hacker Hacked - Krebs on Security - "The San Francisco Municipal Transportation Agency (SFMTA) was hit with a ransomware attack on Friday, causing fare station terminals to carry the message, “You Hacked. ALL Data Encrypted.” Turns out, the miscreant behind this extortion attempt got hacked himself this past weekend, revealing details about other victims as well as tantalizing clues about his identity and location."

ON THE WIRES

  • Jack Henry & Associates, Inc.® and Early Warning® Unveil Strategic Partnership - "Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Today the company announced a strategic alliance with Early Warning to resell Early Warning's ZelleSM Network to partner financial institutions. Zelle, a new faster payments network, will enable financial institution customers to send faster person-to-person (P2P) payments to nearly anyone with a U.S. bank or credit union account."
  • Affirm Extends E-Commerce Lending Solution with Support for Four Additional Platforms - "Affirm, Inc., the company started by PayPal co-founder Max Levchin to give consumers honest financial products, today announced support for four additional e-commerce platforms: Kibo Commerce, BigCommerce, AspDotNetStorefront and Zen-Cart. Retailers that utilize any of these e-commerce platforms are now able to offer consumers the ability to purchase goods and services online, and break up payments over multiple months. "
  • USAA Adds Six New Features to Digital Wallet - "The idea of searching through your purse or wallet to find your card soon may become like flipping through a phone book to find a phone number. Beyond mobile payments, the USAA digital wallet is bringing members access to other staples of their physical wallet, including their auto insurance card and medical insurance card."
  • Sionic Mobile’s M-Commerce Platform Now Connects Directly with Oracle MICROS Point-of-Sale - "Just in time for the busy holiday travel season, Sionic Mobile today announced the integrated release of its award-winning ION Commerce Engine (ICE) with Oracle Hospitality MICROS POS solution. The integration provides a cardless, 3-digit checkout experience, enabling restaurants to quickly and securely process mobile payments, instantly reward guests and connect with millions of Mobile Rewards App users."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall 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!

November 28, 2016

Glenbrook's Spring 2017 Payments Boot Camp Schedule

GP Logo Horizontal 140px Glenbrook’s 2017 Spring Payments Boot Camps in the San Francisco Bay Area, New York, and Atlanta are now open for registration.
Campbell/San Jose, CA - March 7-8, 2017
Workshop Leaders - Russ Jones and Allen Weinberg
Optional Third Day Payments Insight Workshop – Digital Payments

New York, NY - April 18-19, 2017
Workshop Leaders - Bryan Derman and Carol Coye Benson
Optional Third Day Payments Insight Workshop – Faster Payments

Atlanta, GA - May 16-17, 2017
Workshop Leaders - Elizabeth McQuerry and Beth Horowitz Steel
Optional Third Day Payments Insight Workshop – Digital Payments
Agendas, testimonials, and logistics information is available on the Glenbrook website.

NEW! Early Bird discount - save 10% when you register at least 2 months in advance of your preferred workshop. Use discount code GH52R3.

Headline News from PaymentsNews.com - November 28, 2016

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

ON THE WEB

  • EMV Chip Cards Make for Happier Holidays - Small Business Computing - "The Grinch is visiting fewer small businesses this holiday season. Visa reports that payment card fraud is declining, at least for merchants who are making the switch to point of sale and payment processing systems that accept EMV chip cards."
  • Payments Startup Stripe Valued at $9 Billion in New Funding - Bloomberg - "Stripe Inc. raised new financing that values the startup at about $9 billion, cementing its status as a major player in the crowded digital payments space and heralding a possible initial public offering."
  • Black Friday online sales to hit a record-breaking $3 billion, over $1 billion from mobile - TechCrunch - "Adobe’s final numbers indicate that Black Friday surpassed estimates, with $3.34 billion – 21.6 percent growth, year-over-year. Mobile accounted for $1.2 billion, a 33 percent increase from the year before."
  • American Express Raises Its Fee for Late Payments - Wall Street Journal - "Starting in January, AmEx will charge customers as much as $38 if they are late on more than one payment in a six-month period. That’s $1 more than the company’s old highest fee, and it will put AmEx at the maximum allowed under the Consumer Financial Protection Bureau’s updated guidelines."
  • How Frequently Do Millennials Transact via Mobile? - eMarketer - "Millennials frequently use their mobile devices to pay for things, but concerns about identity fraud or security may be stopping more from transacting this way. August 2016 research found that though many millennial smartphone users in North America and the UK do transact via mobile—whether every day or a few times per week—there are others that only do so once a month or a few times per year. - See more at: https://www.emarketer.com/Article/How-Frequently-Do-Millennials-Transact-via-Mobile/1014749#sthash.ohGsKgPy.dpuf"
  • What Marketers Should Know About Instagram’s Shoppable Photo Tags - Adweek Social Times - "The taggable products feature allows users to tap the tags that are applied to photos. Apart from the usual tags, these will offer more details about the product. The even more awesome part is that this product view window will have a purchase link, which will redirect users to retailers’ own products pages, where they can complete their purchases."
  • Consumers have spoken: Banks need to offer multiple channels, especially mobile - Mobile Commerce Daily - "In addition to wanting more security, the biggest thing banks need to know about their consumers’ habits is that they now expect every aspect of the banking process to be connected. Seventy-five percent of people said they expect a seamless experience when switching between channels – whether that is a mobile app, email, on the phone or any other channel."
  • Businesses Still Neglecting Cybersecurity (Infographic) - Adweek Social Times - "The top three technologies companies should consider adopting, according to the infographic, are; identity management services, an incident response platform and intrusion detection systems."

ON THE WIRES

  • IBM Security Offers Tips To Shop Safely on Cyber Monday - "In preparation for Cyber Monday, IBM Security has created some tips for consumers to follow to stay secure while shopping online."
  • OT Provides a Unified Transportation Payment Card in the Philippines - "There are a lot of unbanked people in The Philippines. In order to allow them to easily use transportation in Manila and in the same way be able to pay, AFPI decided to offer them a single card. To do so, OT provides the multi-purpose smart cards enabling commuters to connect from one train line to another without the hassle of changing tickets. The card can also be used in select bus lines and toll ways. In addition to transportation, cardholders will soon be able to pay for goods via a stored value account loaded in the smart card."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall 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!

November 23, 2016

Headline News from PaymentsNews.com - November 23, 2016

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

ON THE WEB

  • Morgan Stanley Plans to Drop Out of R3 Blockchain Group - Wall Street Journal CIO Journal - "It’s the latest major bank to retreat from R3, which is exploring the use of the blockchain distributed database technology in Wall Street infrastructure. The WSJ reported Monday that Goldman Sachs Group Inc. dropped out of R3 when it let its membership lapse and declined to invest equity. Banco Santander SA also recently dropped out, Reuters reported."
  • Visa Chip Card Update: October 2016 - Visa Infographic (PDF) - "More than 1.7M merchants are now accepting chip cards, a 191% increase in the last year."
  • MASSIVE YEAR-LONG CREDIT CARD BREACH REPORTED AT MADISON SQUARE GARDEN - WABC - "The venue said it found signs of external unauthorized access in the last week of October. It would have impacted some customers who used their credit card to purchase merchandise and/or food/drink items at Madison Square Garden, the Theater at Madison Square Garden, Radio City Music Hall, Beacon Theater, and Chicago Theater between November 9, 2015 and October 24, 2016."
  • Winners and Losers From India's Cash Ban - Bloomberg (VIDEO) - "While India's war on cash may have hurt some, there have been at least two winners - Visa and MasterCard. Analysts predict that the world's largest payment networks will see a surge in transactions. Bloomberg's Harsha Subramaniam reports on "Bloomberg Markets.""
  • SECURITY AND CONVENIENCE WHEN SHOPPING ONLINE: DOES MONOPOLY OR COMPETITION KEEP US SAFER? - Disruptive Competition Project - "The European Banking Authority is currently redrafting a standard security process for banks and retailers that accept payments. This will implement the updated EU Payment Services Directive (II). It proposes that all online transactions follow a model called ‘strong authentication’. This involves transactions being approved by banks before they can be accepted. So in the future every time you make a simple online transaction with Zalando, BlaBlacar, Amazon, Carrefour or others it would need to be approved by a bank."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall 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!