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« March 10, 2013 - March 16, 2013 | Main | March 24, 2013 - March 30, 2013 »

March 20, 2013

Western Union Launches Global Stored Value Platform

WesternUnion logo 140pxWestern Union announced the launch of the 'Western Union Global Share platform' which enables the company to partner with local companies around the world on stored-value solutions. Initial partners include Access Prepaid Worldwide, Advent Financial, AirPak, Credencial, Jade Payments, and mFunds.
“The launch of the Western Union Global Share platform and the addition of six companies are proof that Western Union is a relevant, wide-reaching and powerful brand – one with the trust of millions of customers,” said Diane Scott, Executive Vice President, Chief Product and Marketing Officer, Western Union. “We are truly a partner of choice for companies around the world.”

In addition, Western Union announced the launch of its Reload+ network, which allows customers with multiple types of accounts, including prepaid cards, mobile services and other e-commerce-based accounts, to “top up” or add cash to their accounts at participating Western Union Agent locations worldwide.

US Debit Networks Back Discover for Common EMV Support

Srpc logo 140x60pxThe Secure Remote Payment Council has announced that the ten debit network members of its Chip and PIN Workgroup have agreed to adopt a common debit application identifier (AID) and will work with Discover Financial Services to license its D-PAS as the foundation of a common debit card EMV solution in the U.S.
"We are honored to have been chosen by the SRPc Chip and PIN Workgroup and feel that the strength of Discover's D-PAS technology, coupled with our universal and choice-centric EMV approach, will enable the market to move forward," said Diane Offereins, President of Payment Services at Discover. "Discover has deployed D-PAS for the past four years and already has millions of cards in market among international issuers. We are confident it is the right path forward for U.S. debit networks."

Visa and MasterCard are not part of the SRPC Chip and PIN Workgroup.

Starbucks Highlights Mobile Payments Momentum

Starbucks logoStarbucks introduced a new cross-channel, multi-brand reward program at its annual meeting. They also took a minute to discuss the adoption they've seen with their mobile payments initiative.
In January 2011, Starbucks became the first national retailer to offer its own mobile payment technology combined with a world-class loyalty program, and the company now generates over three million mobile transactions each week in the U.S. alone – accounting for approximately 10% of total U.S. tender (Starbucks card, broadly, represents 1 in 3 transactions in the U.S.). New mobile users report that they are embracing the Starbucks mobile payment experience because of the benefits they receive and because it enables them to track their loyalty status in an interactive and engaging way directly on their mobile device.

Headline News - March 20, 2013

On the web:

On the wires:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated.

March 19, 2013

George Peabody Joins Glenbrook Partners

GP Logo Horizontal 140pxGlenbrook announced that George Peabody has joined the firm. As a respected thought leader in payment innovation, he strengthens Glenbrook's strategy practice with in-depth understanding of emerging and mobile commerce, as well as security and authentication technologies.
"For the first time in a generation, many of our clients are fundamentally rethinking the point of sale infrastructure, and they are doing so with an eye toward how payments can be used to grow their business," said Bryan Derman, a managing partner with Glenbrook. "George's expertise and perspective on the role of mobile technologies, data security, and identity in payments will be invaluable to our clients."

Contact information is on the Glenbrook website. George will remain based in the Boston area.

Sift Science Simplifies Online Risk Management

Siftscience logo 140x60pxSift Science, a new risk management startup, has opened up its public beta which includes the industries first 'freemium' service model for risk management. The company aspires to make setting up and using online risk management tools as easy as setting up and using Google Analytics. Sift Science claims that Airbnb and Uber are clients. Website is www.siftscience.com.

Akimbo Launches the Next Generation of Social Banking

Akimbo logo 140x60pxAkimbo, an Austin-based startup, announced a new service to share money with friends through electronic money transfers to Akimbo Visa Prepaid Debit Cards. Users can send funds instantly, and the recipient has immediate access everywhere Visa debit cards are accepted, as well as at ATMs.
"As the payments industry tries to reinvent itself, we need to remember that it takes time for consumers to adopt and adapt to new technology," said Akimbo co-founder and CEO Houston Frost. "The reloadable prepaid account is a great 'bridge' to the wholly digital wallet -- it provides the convenience and ease of a cloud-based solution, with the familiarity and access of a physical card."

Akimbo helps individuals build their own network by allowing them to create up to five personalized "sub-cards" for friends. Once they have provided someone a sub-card, they can send money to the card. Website is www.akimbocard.com.

March 18, 2013

Payments Views - The Rise of the Smart Transaction

GP Logo Horizontal 140pxOver on Payments Views, Glenbrook's Russ Jones blogs about the how the card industry is starting to subdivide at the point of sale into two submarkets, one being the “smart” transaction market and the other being the “basic” transaction market. He explores how this trend is exemplified through solutions from Google, Isis, PayPal, and Visa. The full article is here.

AJB Software Launches Mobile Payments From Within Your Car

Ajb software logo 140x60AJB Software Design has announced availability of FIPay Mobile, a new app that allows smartphone users to pay for gas purchases while remaining in their car. Hughes Car Wash, a Petroleum & C-Store retailer based in Edmonton, Alberta is the first customer.
“The Hughes MobilePay application, powered by our FIPay suite of products, is an example of how petroleum merchants can quickly deploy mobile applications with minimal new investment or configuration,” said Eric Wong, Director, Special Projects, AJB Software Design. “On miserable days, when it’s too hot, rainy or cold, or when it’s late at night, consumers can sit and pay in the safety and comfort of their car, while the fuel dispenser refills their gas tank.

Headline News - March 18, 2013

On the web:

On the wires:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated.

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