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September 30, 2013

Headline News from PaymentsNews.com - September 30, 2013

On the web:

On the wires:

Updates from Glenbrook:

  • Join us for our new series of Glenbrook Payments Boot Camps coming this October - 8th/9th in the San Francisco Bay Area and 23rd/24th in New York City!
  • Glenbrook's Allen Weinberg and Erin McCune will be at Money2020 in Las Vegas October 6-10 - please reach out to them directly to catch up in person or set up a briefing at the conference. Erin will be moderating an Invoicing, Billing & Collections panel with Bill.com CEO Rene Lacerte, Billtrust CEO Flint Lane and Billhighway Chairman Vince Thomas.
  • Glenbrook's Elizabeth McQuerry will be speaking at this year's NACHA Global Payments Forum on October 17-18 in New York City. She'll be speaking on the topic "Mobile Payments, Interoperability & Faster Funds Transfer".
  • Glenbrook's Carol Coye Benson will be speaking at this year's American Bankers Association Annual Convention on October 20-22 in New Orleans. She'll be participating in a panel discussion on The Future of the Payments Industry.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

September 27, 2013

Headline News from PaymentsNews.com - September 27, 2013

On the web:

Updates from Glenbrook:

  • Join us for our new series of Glenbrook Payments Boot Camps coming this October - 8th/9th in the San Francisco Bay Area and 23rd/24th in New York City!
  • Glenbrook's Allen Weinberg and Erin McCune will be at Money2020 in Las Vegas October 6-10 - please reach out to them directly to catch up in person or set up a briefing at the conference. Erin will be moderating an Invoicing, Billing & Collections panel with Bill.com CEO Rene Lacerte, Billtrust CEO Flint Lane and Billhighway Chairman Vince Thomas.
  • Glenbrook's Elizabeth McQuerry will be speaking at this year's NACHA Global Payments Forum on October 17-18 in New York City. She'll be speaking on the topic "Mobile Payments, Interoperability & Faster Funds Transfer".
  • Glenbrook's Carol Coye Benson will be speaking at this year's American Bankers Association Annual Convention on October 20-22 in New Orleans. She'll be participating in a panel discussion on The Future of the Payments Industry.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

September 26, 2013

eBay to Acquire Braintree - Will Continue to Operate as Separate Service

PayPal logo 140x60pxConfirming rumors that began circulating a few weeks ago, eBay announced this morning that it has agreed to acquire Braintree for total consideration of approximately $800 million in cash.

“Braintree is a perfect fit with PayPal,” said eBay Inc. President and CEO John Donahoe. “Bill Ready and his team add complementary talent and technology that we believe will help accelerate PayPal’s global leadership in mobile payments. Together, we expect that PayPal and Braintree also will accelerate our leadership in supporting developers who are creating innovative solutions for next generation commerce startups.”
eBay noted that "Braintree’s payment platform powers next generation innovators such as Airbnb, OpenTable, TaskRabbit and Uber, which are creating compelling new consumer experiences and disrupting legacy business models."

Once the acquisition is completed, Braintree will continue to operate as a separate service within PayPal under the continued leadership of Braintree CEO Bill Ready, who will report to PayPal President David Marcus. Braintree’s management team and employees are expected to stay in place.

“PayPal was built on helping entrepreneurs grow great businesses online. I’m thrilled to welcome the Braintree team,” said PayPal President David Marcus. “With this deal I believe that we will accelerate our capabilities for developers, entrepreneurs, merchants and companies that are building the future.”
PayPal already has a strong presence in mobile, projecting mobile payment volume of more than $20 billion this year.

David Marcus and Bill Ready Photo 1

PayPal CEO David Marcus and Braintree CEO Bill Ready

Headline News from PaymentsNews.com - September 26, 2013

On the web:

On the wires:

  • WorldPay US Announces Purchase of Century Payments - “The acquisition of Century Payments is a vital milestone in our continued US growth strategy,” said Tony Catalfano, CEO of WorldPay US.
  • Parallax Capital Partners and StepStone Group buy IdenTrust - "IdenTrust’s experience and expertise in providing identity management for many of the world’s largest banks, its role as a major identity provider to the US Federal and State Governments, and its growing emergence as an identity solution for the corporate sector make it the perfect company for us to invest in."

Updates from Glenbrook:

  • Join us for our new series of Glenbrook Payments Boot Camps coming this October - 8th/9th in the San Francisco Bay Area and 23rd/24th in New York City!
  • Glenbrook's Allen Weinberg and Erin McCune will be at Money2020 in Las Vegas October 6-10 - please reach out to them directly to catch up in person or set up a briefing at the conference. Erin will be moderating an Invoicing, Billing & Collections panel with Bill.com CEO Rene Lacerte, Billtrust CEO Flint Lane and Billhighway Chairman Vince Thomas.
  • Glenbrook's Elizabeth McQuerry will be speaking at this year's NACHA Global Payments Forum on October 17-18 in New York City. She'll be speaking on the topic "Mobile Payments, Interoperability & Faster Funds Transfer".
  • Glenbrook's Carol Coye Benson will be speaking at this year's American Bankers Association Annual Convention on October 20-22 in New Orleans. She'll be participating in a panel discussion on The Future of the Payments Industry.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

September 25, 2013

Headline News from PaymentsNews.com - September 25, 2013

On the web:

On the wires:

Updates from Glenbrook:

  • Join us for our new series of Glenbrook Payments Boot Camps coming this October - 8th/9th in the San Francisco Bay Area and 23rd/24th in New York City!
  • Glenbrook's Allen Weinberg and Erin McCune will be at Money2020 in Las Vegas October 6-10 - please reach out to them directly to catch up in person or set up a briefing at the conference. Erin will be moderating an Invoicing, Billing & Collections panel with Bill.com CEO Rene Lacerte, Billtrust CEO Flint Lane and Billhighway Chairman Vince Thomas.
  • Glenbrook's Elizabeth McQuerry will be speaking at this year's NACHA Global Payments Forum on October 17-18 in New York City. She'll be speaking on the topic "Mobile Payments, Interoperability & Faster Funds Transfer".
  • Glenbrook's Carol Coye Benson will be speaking at this year's American Bankers Association Annual Convention on October 20-22 in New Orleans. She'll be participating in a panel discussion on The Future of the Payments Industry.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

September 24, 2013

Headline News from PaymentsNews.com - September 24, 2013

On the web:

On the wires:

Updates from Glenbrook:

  • Join us for our new series of Glenbrook Payments Boot Camps coming this October - 8th/9th in the San Francisco Bay Area and 23rd/24th in New York City!
  • Glenbrook's Allen Weinberg and Erin McCune will be at Money2020 in Las Vegas October 6-10 - please reach out to them directly to catch up in person or set up a briefing at the conference. Erin will be moderating an Invoicing, Billing & Collections panel with Bill.com CEO Rene Lacerte, Billtrust CEO Flint Lane and Billhighway Chairman Vince Thomas.
  • Glenbrook's Elizabeth McQuerry will be speaking at this year's NACHA Global Payments Forum on October 17-18 in New York City. She'll be speaking on the topic "Mobile Payments, Interoperability & Faster Funds Transfer".
  • Glenbrook's Carol Coye Benson will be speaking at this year's American Bankers Association Annual Convention on October 20-22 in New Orleans. She'll be participating in a panel discussion on The Future of the Payments Industry.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

September 23, 2013

VeriFone Names Paul Galant CEO

Verifone logo 140pxIn a press release Monday afternoon, VeriFone named Paul Galant as CEO and a Member of the Board of Directors, effective October 1, 2013.

In the press release, Galant said:

“I am honored to have been selected as VeriFone’s new CEO. I am impressed with the progress the company has made during the past year and recognize there is still much work to be done.

I am committed to VeriFone’s business success and look forward to working with the talented senior leadership team and VeriFone’s 5,500 employees worldwide to deliver the quality and innovation that our clients need and the value that our shareholders expect.

VeriFone has established a tremendous presence in the payments ecosystem with its managed services, platform software and data analytics offerings across its core global network of more than 20 million devices in 150 countries. This is a strong foundation to build upon, and I look forward to continuing to serve our clients and grow our device and services businesses leveraging new technologies and powering new commerce channels.”

Galant has held several positions at Citigroup including serving as head of Citi Cards and, most recently, as the CEO of Citigroup Inc.’s Enterprise Payments business.

A Look at Brazil’s New Payments Law: Boldly Going Where Few Have Dared to Go Before?

PaymentsViews logo 140pxIn a new PaymentsViews.com article, Glenbrook's Elizabeth McQuerry takes a look at Brazil's new payments law. She writes:

Going forward, Brazil has defined its mobile payments environment and placed parameters around participation as well as what is required of those participants. Yet the legislation extends beyond the mobile payment arena into the larger payments space in also creating a new category of payment institutions. Both mobile payment providers as well as other payment services providers may elect to become payments institutions.
Be sure to read the full article - titled "Brazil’s New Payments Law: Boldly Going Where Few Have Dared to Go Before?" - and add your comments and questions!

Headline News from PaymentsNews.com - September 23, 2013

On the web:

  • PayPal Nears Deal for Braintree Payments - Wall St. Journal Digits - "The deal for Braintree would give PayPal access to data and lucrative transaction fees from Braintree’s expanding network, which currently processes more than $10 billion annually for companies like OpenTable, Uber Technologies and Airbnb."
  • Mastercard, Visa to cut French card fees: watchdog - Reuters - "Both Visa and Mastercard will cut interbank fees to around 0.28 percent of the transaction value from about 0.5 percent currently..."
  • The Real Reason the Poor Go Without Bank Accounts - The Atlantic Cities - "The banking industry needs to develop different fee and service structures designed to accommodate lower income depositors in much the same way banks currently provide VIP treatment to high-net-worth individuals."
  • Financial Education and the Debt Behavior of the Young - Federal Reserve Bank of New York - "More than three-quarters of U.S. households bear consumer debt, yet we have little understanding of the relationship between financial education and the debt behavior of U.S. consumers. In this paper, we study the effects of exposure to financial training on debt outcomes in early adulthood."

On the wires:

Updates from Glenbrook:

  • Join us for our new series of Glenbrook Payments Boot Camps coming this October - 8th/9th in the San Francisco Bay Area and 23rd/24th in New York City!
  • Glenbrook's Allen Weinberg and Erin McCune will be at Money2020 in Las Vegas October 6-10 - please reach out to them directly to catch up in person or set up a briefing at the conference. Erin will be moderating an Invoicing, Billing & Collections panel with Bill.com CEO Rene Lacerte, Billtrust CEO Flint Lane and Billhighway Chairman Vince Thomas.
  • Glenbrook's Elizabeth McQuerry will be speaking at this year's NACHA Global Payments Forum on October 17-18 in New York City. She'll be speaking on the topic "Mobile Payments, Interoperability & Faster Funds Transfer".
  • Glenbrook's Carol Coye Benson will be speaking at this year's American Bankers Association Annual Convention on October 20-22 in New Orleans. She'll be participating in a panel discussion on The Future of the Payments Industry.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

September 20, 2013

Judge Grants Stay on Debit Card Ruling - Pending Appeal

Federal District Judge Richard J. Leon has issued an order staying his earlier summary judgment decision to vacate the Federal Reserve's debit interchange fee and network exclusivity regulations pending the appeal of his decision that is now underway.

Headline News from PaymentsNews.com - September 20, 2013

On the web:

On the wires:

Updates from Glenbrook:

  • Join us for our new series of Glenbrook Payments Boot Camps coming this October - 8th/9th in the San Francisco Bay Area and 23rd/24th in New York City!
  • Glenbrook's Allen Weinberg and Erin McCune will be at Money2020 in Las Vegas October 6-10 - please reach out to them directly to catch up in person or set up a briefing at the conference. Erin will be moderating an Invoicing, Billing & Collections panel with Bill.com CEO Rene Lacerte, Billtrust CEO Flint Lane and Billhighway Chairman Vince Thomas.
  • Glenbrook's Elizabeth McQuerry will be speaking at this year's NACHA Global Payments Forum on October 17-18 in New York City. She'll be speaking on the topic "Mobile Payments, Interoperability & Faster Funds Transfer".
  • Glenbrook's Carol Coye Benson will be speaking at this year's American Bankers Association Annual Convention on October 20-22 in New Orleans. She'll be participating in a panel discussion on The Future of the Payments Industry.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

September 19, 2013

Google Launches Google Wallet app for iPhone

Google logo 140pxGoogle today announced the first Google Wallet app for iPhone (iOS v6.0+). The non-NFC-based functionality of the iPhone version parallels that of the Android version released earlier this week.

Headline News from PaymentsNews.com - September 19, 2013

On the web:

On the wires:

Updates from Glenbrook:

  • Join us for our new series of Glenbrook Payments Boot Camps coming this October - 8th/9th in the San Francisco Bay Area and 23rd/24th in New York City!
  • Glenbrook's Allen Weinberg and Erin McCune will be at Money2020 in Las Vegas October 6-10 - please reach out to them directly to catch up in person or set up a briefing at the conference. Erin will be moderating an Invoicing, Billing & Collections panel with Bill.com CEO Rene Lacerte, Billtrust CEO Flint Lane and Billhighway Chairman Vince Thomas.
  • Glenbrook's Elizabeth McQuerry will be speaking at this year's NACHA Global Payments Forum on October 17-18 in New York City. She'll be speaking on the topic "Mobile Payments, Interoperability & Faster Funds Transfer".
  • Glenbrook's Carol Coye Benson will be speaking at this year's American Bankers Association Annual Convention on October 20-22 in New Orleans. She'll be participating in a panel discussion on The Future of the Payments Industry.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

September 18, 2013

Headline News from PaymentsNews.com - September 18, 2013

On the web:

On the wires:

Updates from Glenbrook:

  • Join us for our new series of Glenbrook Payments Boot Camps coming this October - 8th/9th in the San Francisco Bay Area and 23rd/24th in New York City!
  • Glenbrook's Allen Weinberg and Erin McCune will be at Money2020 in Las Vegas October 6-10 - please reach out to them directly to catch up in person or set up a briefing at the conference. Erin will be moderating an Invoicing, Billing & Collections panel with Bill.com CEO Rene Lacerte, Billtrust CEO Flint Lane and Billhighway Chairman Vince Thomas.
  • Glenbrook's Elizabeth McQuerry will be speaking at this year's NACHA Global Payments Forum on October 17-18 in New York City. She'll be speaking on the topic "Mobile Payments, Interoperability & Faster Funds Transfer".
  • Glenbrook's Carol Coye Benson will be speaking at this year's American Bankers Association Annual Convention on October 20-22 in New Orleans. She'll be participating in a panel discussion on The Future of the Payments Industry.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

September 17, 2013

Google Upgrades Google Wallet on Android Phones

Google logo 140pxGoogle has announced the upgrade of Google Wallet for Android phones. The new app adds the ability to send money on the go to any friend in the US with an email address. It also supports holding loyalty card information in the app that can be used at checkout and provides additional offers functionality.

In an article titled "Google releases a new version of Google Wallet, dumps NFC requirement", Ars Technica notes that this upgraded app works on both NFC and non-NFC equipped phones.

Virtual Currencies: Are They the Future of Payments?

FWSFOn October 17, the Financial Women of San Francisco are holding a session in their Industry Leadership Series on "Virtual Currencies: Are They the Future of Payments?" in downtown San Francisco.

Glenbrook's Erin McCune will be joined on the panel with Brian Armstrong of Coinbase, Chris Larsen of OpenCoin, and Ben Milne of Dwolla. The panel will be moderated by Bill Haraf, Managing director at Promontory Financial. Click here for more details.

Headline News from PaymentsNews.com - September 17, 2013

On the web:

On the wires:

Updates from Glenbrook:

  • Join us for our new series of Glenbrook Payments Boot Camps coming this October - 8th/9th in the San Francisco Bay Area and 23rd/24th in New York City!
  • Glenbrook's Allen Weinberg and Erin McCune will be at Money2020 in Las Vegas October 6-10 - please reach out to them directly to catch up in person or set up a briefing at the conference. Erin will be moderating an Invoicing, Billing & Collections panel with Bill.com CEO Rene Lacerte, Billtrust CEO Flint Lane and Billhighway Chairman Vince Thomas.
  • Glenbrook's Elizabeth McQuerry will be speaking at this year's NACHA Global Payments Forum on October 17-18 in New York City. She'll be speaking on the topic "Mobile Payments, Interoperability & Faster Funds Transfer".
  • Glenbrook's Carol Coye Benson will be speaking at this year's American Bankers Association Annual Convention on October 20-22 in New Orleans. She'll be participating in a panel discussion on The Future of the Payments Industry.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

September 16, 2013

Headline News from PaymentsNews.com - September 16, 2013

On the web:

On the wires:

Updates from Glenbrook:

  • Join us for our new series of Glenbrook Payments Boot Camps coming this October - 8th/9th in the San Francisco Bay Area and 23rd/24th in New York City!
  • Glenbrook's Allen Weinberg and Erin McCune will be at Money2020 in Las Vegas October 6-10 - please reach out to them directly to catch up in person or set up a briefing at the conference. Erin will be moderating an Invoicing, Billing & Collections panel with Bill.com CEO Rene Lacerte, Billtrust CEO Flint Lane and Billhighway Chairman Vince Thomas.
  • Glenbrook's Elizabeth McQuerry will be speaking at this year's NACHA Global Payments Forum on October 17-18 in New York City. She'll be speaking on the topic "Mobile Payments, Interoperability & Faster Funds Transfer".
  • Glenbrook's Carol Coye Benson will be speaking at this year's American Bankers Association Annual Convention on October 20-22 in New Orleans. She'll be participating in a panel discussion on The Future of the Payments Industry.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

September 12, 2013

Headline News from PaymentsNews.com - September 12, 2013

On the web:

On the wires:

Updates from Glenbrook:

  • Join us for our new series of Glenbrook Payments Boot Camps coming this October - 8th/9th in the San Francisco Bay Area and 23rd/24th in New York City!
  • Glenbrook's Allen Weinberg and Erin McCune will be at Money2020 in Las Vegas October 6-10 - please reach out to them directly to catch up in person or set up a briefing at the conference. Erin will be moderating an Invoicing, Billing & Collections panel with Bill.com CEO Rene Lacerte, Billtrust CEO Flint Lane and Billhighway Chairman Vince Thomas.
  • Glenbrook's Elizabeth McQuerry will be speaking at this year's NACHA Global Payments Forum on October 17-18 in New York City. She'll be speaking on the topic "Mobile Payments, Interoperability & Faster Funds Transfer".
  • Glenbrook's Carol Coye Benson will be speaking at this year's American Bankers Association Annual Convention on October 20-22 in New Orleans. She'll be participating in a panel discussion on The Future of the Payments Industry.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

September 11, 2013

MasterCard Holds Investment Community Meeting

MasterCard logo 140pxMasterCard earlier today held one of its periodic Investment Community meetings. A copy of the slides and the webcast are available on the MasterCard web site.

Fed Kicks Off New Look at Improving the US Payment System

FedThe Federal Reserve Banks have announced publication of “Payment System Improvement – Public Consultation Paper” - a document whose purpose is "to share Federal Reserve perspectives on the key gaps and opportunities in the U.S. payment system and identify the desired outcomes that close these gaps and capture these opportunities.”

The Federal Reserve said it has recently conducted an analysis of the payment environment to understand "opportunities for improvement consistent with our vision of a safe, efficient and accessible U.S. payment system from endto-end. Some of these recurring themes centered around faster payments, closed payment communities, obstacles in international payments, the mobile technology revolution and lack of contemporary features in traditional payment channels."

The Fed is seeking input on these themes - visit the web site: FedPaymentsImprovement.org to share yours. Consultation paper responses may be submitted until December 13, 2013. All written responses will be made public and may be viewed on the Fed's website.

Headline News from PaymentsNews.com - September 11, 2013

On the web:

On the wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

September 10, 2013

clearXchange Names Michael Kennedy Chief Executive Officer

ClearXchange logo 140pxclearXchange, the joint venture of Bank of America, Wells Fargo and JPMorgan Chase, has announced the naming of Michael Kennedy as chief executive officer.

Kennedy co-founded and served as chairman of clearXchange while working as executive vice president and head of Innovation and Payments Strategy for Wells Fargo Bank. clearXchange says that Kennedy will now devote 100 percent of his time to leading clearXchange and will be based in San Francisco.

Paydiant Announces Closing an Additional $15 Million in Funding

Paydiant logo 140pxMobile payments player Paydiant has announced closing a new $15 million financing round. According to one of the earlier investors in Paydiant:

One of Paydiant’s Fortune 500 customers decided to pre-emptively initiate this financing because they believe that Paydiant's white-label, open mobile wallet platform and market positioning best serves the needs of the largest financial institutions retailers, and their customers.” said Jim Moran, partner at North Bridge Venture Partners.
Paydiant says that "unlike other mobile wallet solutions that require consumers to buy new phones or retailers to invest in costly new point-of-sale (POS) infrastructure, Paydiant’s white label platform works with existing smartphones, POS systems, and payment terminals, including entry-level countertop devices."

Headline News from PaymentsNews.com - September 10, 2013

On the web:

On the wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

September 09, 2013

PayPal Introduces PayPal Beacon

PayPal logo 140x60pxIn a live presentation this afternoon at TechCrunch Disrupt in San Francisco, PayPal's Hill Ferguson announced PayPal Beacon, a new Bluetooth Low Energy token to facilitate hands-free payments in-store. In an FAQ, PayPal describes Beacon a bit more:

With one vibration or sound on your phone, you’ll know you’re checked in. And when you’re ready to make a purchase, all you have to do is say you’re paying with PayPal and the transaction is automatically completed: no cash, cards, taps, or signatures required—all hands free.

PayPal Beacon will connect consumers to enhanced shopping experiences such as automatically ordering your favorite dish at your usual lunch spot, or getting personalized service at your favorite clothing store. In addition, you can choose to accept messages from stores that you walk into, so that you can take advantage of special offers in the produce aisle.

PayPal says it expects that PayPal Beacon devices will be generally available for merchants to purchase by early next year. In today's announcement, PayPal didn't provide any pricing details for consumers.

Fed Finds Revolving Credit in US Shrinks at -2.5% Annual Rate in July

FedThe Federal Reserve's latest G.19 Consumer Credit report is out today and finds that revolving credit in the US was down at an annual rate of 2.5% in July after having increased in several months earlier this year. July's decline follows a 5.2% decline in revolving credit in June.

Headline News from PaymentsNews.com - September 9, 2013

On the web:

On the wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

September 05, 2013

Braintree Adds Additional Fraud Protection for Merchants

Braintree logo 140pxBraintree has announced "it has enhanced its payment platform with additional fraud protection for its merchants that leverages the purchasing behavior across a large network of online and mobile companies. Now all Braintree merchants, from startups to enterprises, benefit from this powerful network effect that shields them from a variety of threats, reducing the risk of fraudulent activity and losses to their business."

"Our experience in processing more than $10 billion of online and mobile commerce annually has given us the data and expertise needed to deliver comprehensive tools that further protect our merchants and stop fraudsters," said Bill Ready, CEO, Braintree.

"Fraud is not a problem limited to large merchants. Our goal is to provide startups everything they need to grow and scale, including fraud protection."

By analyzing purchasing activity from thousands of online and mobile retailers, Braintree creates rules that take into account hundreds of variables across the network for merchants to apply to their business. Braintree goes beyond looking at a customer's purchase behavior at a single merchant by analyzing purchasing behavior across a large number of merchants. With these insights, Braintree can accurately recognize fraud and take appropriate actions.

Fraud Tools are now available to all Braintree merchants at no additional cost. To learn more visit: www.braintreepayments.com/fraud-protection.

Headline News from PaymentsNews.com - September 5, 2013

On Twitter:

On the web:

On the wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

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