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« February 9, 2014 - February 15, 2014 | Main | February 23, 2014 - March 1, 2014 »

February 21, 2014

Upcoming Glenbrook Insight Workshops: Bitcoin, Data in Payments

GP Logo Horizontal 140pxGlenbrook is pleased to announce a new series of workshops to complement our Payments Boot Camps. Our one-day Payments Insight Workshops are designed to provide critical in-depth information on specialized topics important to payments professionals.

Our first Insight Workshop, "Bitcoin: Basics and Beyond," will delve into the mechanics, possibilities, and controversies of Bitcoin and the larger world of crypto currencies. Registration for our first session, on March 26th in Mountain View, CA is now open.

Later in the spring, you can look forward to "Data in Payments" on April 22nd and "Innovation in Payments" on May 8th. The schedule of upcoming Insight Workshops, as well as our popular two-day Payments Boot Camps, is on our website.

Headline News from PaymentsNews.com - February 21, 2014

The Kindle edition of our book "Payments Systems in the U.S. - Second Edition" - is now available in the Kindle Store as well as in an iBooks version for your iPad or Mac in the iBooks Store. The ebook versions are priced at US$9.99.

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  • BitPay Sponsors the LAUNCH Hackathon - "To encourage more development of open-source tools that benefit everybody in the bitcoin space, BitPay is offering developers of LAUNCH an additional financial incentive for projects that utilize BitPay’s Bitcoin Payment Gateway API or the open source library Bitcore."

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!

February 20, 2014

BBVA Acquires Simple for $117 MM

Simple logo 140pxBBVA has announced that it is acquiring Simple - saying that the acquisition is part of "BBVA's strategy to lead the technology-driven change that is transforming the financial services industry."

Simple's customer experience is unmatched in the digital banking world," said BBVA Chairman & CEO Francisco Gonzalez. "Simple will reinforce our global digital transformation while BBVA will provide the means to help Simple maximize its outstanding growth potential."

Simple, based in Portland, Oregon, was founded in 2009 and its commercial launch took place in July 2012. It now has more than 100,000 customers across the United States.

Simple will continue to operate separately under the same brand, with the same philosophy and approach to customer experience. Joshua Reich, co-founder and CEO, and Shamir Karkal, co-founder and CFO, will continue to lead the 92 employees who work at Simple.

BBVA will complete the purchase through US-based BBVA Compass Bancshares, Inc., which will in time help Simple develop new products and services. With the support of the BBVA Group, Simple will be able to expand beyond the US and enter new markets.

BBVA, through its corporate venture arm BBVA Ventures, is actively investing in disruptive initiatives in financial services. Some of its current investments include SumUp, the Berlin-headquartered startup enabling mobile point of sale payments; Radius, a US-based company providing business insight into millions of small- and mid-size businesses; Freemonee, which analyzes its customers' transactional data to create relevant offers from retailers; Ribbit Capital, a financial technology-focused venture capital fund; and the seed-capital fund and accelerator program 500 Startups. BBVA Ventures operates through BBVA's representative office in San Francisco.

Headline News from PaymentsNews.com - February 20, 2014

The Kindle edition of our book "Payments Systems in the U.S. - Second Edition" - is now available in the Kindle Store as well as in an iBooks version for your iPad or Mac in the iBooks Store. The ebook versions are priced at US$9.99.

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. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

February 19, 2014

New Opportunities on PaymentsJobs.com: Google, Bitnet and Dynamics

PaymentsJobs logo 140pxOver on our PaymentsJobs.com site, the following job opportunities have recently been listed:

If you're looking for new opportunities in payments-related positions, be sure to visit PaymentsJobs.com. Likewise, if you're actively hiring for payments positions, list your openings on PaymentsJobs.com.

Capital One Joins clearXchange as Owner

ClearXchange logo 140pxCapital One and clearXchange have announced that Capital One, N. A. has joined the clearXchange network as an owner, becoming the fourth owner alongside Bank of America, JPMorgan Chase, and Wells Fargo and fifth bank customer of the clearXchange network.

clearXchange describes itself as "the first network in the U.S. created by and for financial institutions that lets customers send person-to-person payments easily and securely with only an email address or phone number."

Capital One is focused on bringing its customers innovative products and services that allow them to spend wisely and transact easily – when, where and how they want,” said Jack Forestell, Executive Vice President of Digital at Capital One. “Partnering with clearXchange is another way we are bringing safe and secure payments through convenient, digital channels to our customers.”

“We are excited to add Capital One to our network,” said Mike Kennedy, CEO of clearXchange. “This partnership expands the value of the clearXchange network by enabling more customers to easily make secure payments to their friends and family, and it will drive additional innovation in person-to-person payments.”

As a member of the network, Capital One will expand its capabilities to provide customers the ability to pay anyone with a U.S. bank account without requiring sensitive account information.

MasterCard Adds Support for NFC-based Mobile Payments Using HCE

MasterCard logo 140pxMasterCard has announced it will publish a specification for Host Card Emulation (HCE) for secure near field communication (NFC) payment transactions. HCE enables payments and other NFC services – including loyalty programs, building access and transit passes – to be delivered without the use of a secure element (SE).

MasterCard says that "the specification, developed over the past year with Capital One and Banco Sabadell, marks a significant industry milestone that, in addition to MasterCard’s longstanding support for embedded and SIM-based SE implementations, will drive greatly expanded availability of mobile contactless payments for consumers."

Consumers are now shopping and paying in whatever way best fits their needs and lifestyles – and from every device they own. To meet their expectations for convenience, we need to accelerate the availability of services in the market. The use of HCE provides a very attractive way forward to launch an increased number of NFC-based offerings,” said James Anderson, Group Head, Emerging Payments at MasterCard.

“We continue to set standards and deliver solutions to our partners and customers that deliver great experiences for safe and secure digital payments.”

HCE is supported in Android OS KitKat 4.4, which began shipping in November 2013. MasterCard said its approach to HCE combines custom software on the mobile device with highly secure cloud-based processing. This greatly simplifies and speeds the deployment process of NFC-based mobile offerings to consumers by card-issuing financial institutions.

MasterCard plans to publish its secure remote payment specifications during the first half of 2014.

Visa Announces Support for Cloud-Based Mobile Payments and HCE on Andorid

Visa 2014 logo 140x60Visa has announced support for new options to securely deploy mobile payment programs, including for the first time an option to host Visa payWave-enabled accounts in a secure, virtual cloud. Visa says that "the move expands Visa’s support for mobile payments globally and will give financial institutions greater choice in offering consumers secure ways to pay with smartphones."

Our clients and partners around the globe are continuously looking for flexible, cost efficient and secure ways to enable mobile payments,” said Elizabeth Buse, Executive Vice President, Global Solutions, Visa Inc.

“The Android HCE feature provides us with a platform to evolve the Visa payWave standard, support the development of secure, cloud-based mobile applications, while at the same time offer greater choice to our clients.”

Visa said its support for cloud-based payments follows the introduction of a new feature in the Android mobile operating system called Host Card Emulation (HCE); HCE allows any NFC application on an Android device to emulate a smart card, letting users wave-to-pay with their smartphones, while permitting financial institutions to host payment accounts in a secure, virtual cloud.

Visa also plans to deploy several layers of security to protect payment accounts in the cloud, including at the Visa network, application and hardware levels. One-time use data, real-time transaction analysis, payment tokens and device fingerprinting technology make up a multi-layered defense against unauthorized account access.

Loop Launches LoopWallet for Mobile Payments

Loop has announced the release of its LoopWallet™ app to U.S. consumers - now available at the Apple App Store, with an Android version planned for release in April 2014. Loop is also offering the Loop Fob for $39, saying it is the first of many "AppCessories" that give users the ability to swipe and store their credit or debit, gift and reward cards into their smartphones.

“Loop users are making history as they embark on an exciting new era of secure smartphone-enabled payments. Loop gives users an intuitive way to simplify and organize their wallets. Just download the free LoopWallet app, order a Loop AppCessory, swipe your cards into your smartphone, and pay at almost everywhere in the world,” said Will Graylin, CEO of Loop. “It’s a true breakthrough that brings more convenience to consumers and with a new level of security beyond chip cards.”

"With its patented technology, payment card data is encrypted and stored in dedicated hardware secure memory, within the Loop Fob or any Loop enabled device. Partnering with payment card issuers, Loop’s technology can also generate dynamic card data every time a payment is made, making such data unusable for those trying to clone a card. Its contactless chip does not wear out and fits into virtually any form factor that consumers want to carry – from smartphones to fobs, to charge cases, to smart watches, the possibilities are limitless."

Loop was founded by two payment industry pioneers, Will Graylin and George Wallner.

Headline News from PaymentsNews.com - February 19, 2014

The Kindle edition of our book "Payments Systems in the U.S. - Second Edition" - is now available in the Kindle Store as well as in an iBooks version for your iPad or Mac in the iBooks Store. The ebook versions are priced at US$9.99.

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. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

February 18, 2014

New Kindle Edition of "Payments Systems in the U.S." - Now Available

PSUS KindleWe've often been asked about a Kindle edition of our popular book "Payments Systems in the U.S." - and are proud to announce that our new Kindle edition has just launched in the Amazon.com Kindle Store.

We're also updating the iBooks version of the book for reading on your iPad or the iBooks app on the Mac. Earlier purchasers can download the latest update of the book using the iBooks app on either platform.

Both ebook editions are available in the U.S. at a new low price: $9.99. The softcover print edition will remain available for those who prefer a physical book.

Headline News from PaymentsNews.com - February 18, 2014

The second edition of our book "Payments Systems in the U.S." has just been published. It's available in print from Amazon.com and in an ebook version for your iPad.

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. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

February 17, 2014

Headline News from PaymentsNews.com - February 17, 2014

The second edition of our book "Payments Systems in the U.S." has just been published. It's available in print from Amazon.com and in an ebook version for your iPad.

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On the Web:

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  • Coming Soon!

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!

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