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July 05, 2013

Headline News from PaymentsNews.com - July 5, 2013

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Upcoming from Glenbrook:

  • Summer Camp! - A special summer session of our popular Payments Boot Camp - in Half Moon Bay on August 6th and 7th... Also, an optional half day course on Data In Payments - August 8th, also in Half Moon Bay. Join Carol, Scott and Russ for lively, interactive sessions - register now!
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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!

July 03, 2013

Headline News from PaymentsNews.com - July 3, 2013

On the web:

On the wires:

Upcoming from Glenbrook:

  • Summer Camp! - A special summer session of our popular Payments Boot Camp - in Half Moon Bay on August 6th and 7th... Also, an optional half day course on Data In Payments - August 8th, also in Half Moon Bay. Join Carol, Scott and Russ for lively, interactive sessions - register now!
  • Follow Glenbrook Partners on LinkedIn! -

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!

July 02, 2013

Headline News from PaymentsNews.com - July 2, 2013

On the web:

On the wires:

Upcoming from Glenbrook:

  • Summer Camp! - A special summer session of our popular Payments Boot Camp - in Half Moon Bay on August 6th and 7th... Also, an optional half day course on Data In Payments - August 8th, also in Half Moon Bay. Join Carol, Scott and Russ for lively, interactive sessions - register now!
  • Follow Glenbrook Partners on LinkedIn! -

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!

July 01, 2013

The Clearing House Announces Dynamic Credentialing Payments Initiative with Major Banks

The Clearing House 140pxThe Clearing House (TCH) has announced that it is working with its 22 member banks to develop an "industrywide dynamic credentialing solution to improve the safety and soundness of digital payments."

TCH says it is developing a pilot program to demonstrate a solution that would foster an open standard solution that aims to enhance customer account information
safeguards by reducing storage of sensitive information, such as a
customer’s card number, across multiple retailers, virtual wallet providers and
others. TCH says the initiative is designed to ensure that solutions in mobile and other digital payment channels scale in a consistently safe and sound manner.

“Financial institutions have always been the stewards of safe and sound payment systems,” said Richard K. Davis, Chairman, President and Chief Executive Officer, U.S. Bancorp and Chairman of The Clearing House.

“As an industry, we want to do what we can to ensure that privacy and fraud
protection are built into all types of digital payments.”

The pilot will test customers’ ability to use their mobile device to make a purchase within a mobile wallet and at the point of sale.

The customer’s actual account number will be replaced by the issuing bank with a randomly generated temporary number, or dynamic credential, for processing the transaction. This protects a customer’s account information behind bank firewalls and lowers the potential for fraud in digital payments.

Customer experience for payment transactions with mobile devices should not be impacted as the pilot is focused on the “behind the scenes” of a digital payment transaction.

“The development of an innovative, safe and sound solution for digital payments is a natural evolution for The Clearing House,” says The Clearing House President and CEO James Aramanda.

For 160 years The Clearing House has focused on the safety and security of payments for all Americans. First with the development of a central clearing house, then the paper check, followed by electronic payments and now it is ready to ensure digital payments safety and security for future generations.”

Headline News from PaymentsNews.com - July 1, 2013

On the web:

On the wires:

  • Intuit Announces Next Phase of Structural Moves; Organizational Foundation Now in Place - "The divestiture of Intuit Financial Services reflects Intuit’s strong commitment to intensify its focus on small business and consumer tax. As a result, the company signed a definitive agreement to sell IFS to Thoma Bravo for $1.025 billion, pending regulatory review."
  • Thoma Bravo to Acquire Intuit’s Financial Services Business - "Thoma Bravo’s acquisition of IFS is consistent with our strategy of buying great technology franchises with significant recurring revenue,” said Orlando Bravo, managing partner at Thoma Bravo."
  • TSYS Completes Acquisition of NetSpend - "This is a transformational day for everyone at TSYS and NetSpend, as this deal brings together two companies with a shared vision and purpose that focuses on meeting the needs of people. It also takes TSYS closer to the consumer than we have ever been before..."

Upcoming from Glenbrook:

  • Summer Camp! - A special summer session of our popular Payments Boot Camp - in Half Moon Bay on August 6th and 7th... Also, an optional half day course on Data In Payments - August 8th, also in Half Moon Bay. Join Carol, Scott and Russ for lively, interactive sessions - register now!
  • Follow Glenbrook Partners on LinkedIn! -

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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