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« March 8, 2015 - March 14, 2015 | Main | March 22, 2015 - March 28, 2015 »

March 20, 2015

Headline News from PaymentsNews.com - March 20, 2015

On the Web:

Glenbrook's 2015 Payments Education Update!

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!

March 19, 2015

Headline News from PaymentsNews.com - March 19, 2015

On the Web:

On the Wires:

  • American Express Announces New Co-Brand Relationship with Charles Schwab - “We look forward to working closely with Charles Schwab to develop a strong value proposition for the new cards,” said Josh Silverman, president of Consumer Products & Services for American Express. “The partnership is designed to generate positive economics over time for our shareholders, and allow our mutual customers to benefit from a relationship with two leading financial services brands.”
  • GlobeOne partners with InvestaBank and Bankaool to bring new mobile banking network to Mexico - “Only 45% of the population in Mexico has a bank account, which is why this partnership is an exciting development for Mexican consumers,” said Michael Wolper, GlobeOne member and Chief Marketing Officer. “Through GlobeOne’s growing global network, consumers will have access to the basic financial services necessary to build a strong financial future, and banks will have a new platform to serve the many digitally connected Mexican consumers who do not participate in the traditional, brick-and-mortar banking system.”

Glenbrook's 2015 Payments Education Update!

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!

March 18, 2015

American Express Launches Plenti Coalition Loyalty Program

Amex logo 140pxAmerican Express has announced Plenti - calling it "the first U.S.-based coalition loyalty program."

AT&T, ExxonMobil, Macy’s, Nationwide, Rite Aid, Direct Energy and Hulu are joining with American Express to launch the program where consumers can earn and use Plenti points for purchasing a wide range of products, regardless of the payment method consumers choose to use. Amex said the program will officially launch this spring and is expected to include more brands in additional categories.

Recent research indicates that nearly three-quarters (72 percent) of Americans say they would prefer a rewards program that allows them to shop at many stores versus a single brand. Plenti is designed to address that need, giving consumers options to earn points and additional value through special offers and product discounts. Plenti will be free to join, and consumers can earn points and discounts using any form of payment accepted by the participating brands, including cash, prepaid and any debit, charge or credit card.

“This is a perfect time for a coalition loyalty program in the U.S., as online marketing becomes more efficient and American consumers become more accustomed to rewards programs, special offers and discounts,” said Ed Gilligan, president at American Express. “With American Express’ deep experience with the Membership Rewards® program and acquisition of Loyalty Partner in 2011, we are the right company to operate a loyalty program of this scale, involving such celebrated brands.”

For more information, visit: www.plenti.com.

Facebook Introduces Send Money to Friends in U.S. Market

Facebook logo 140pxFacebook has announced it has enhanced its Facebook Messenger mobile application to support sending money between friends.

The first time you send or receive money in Messenger, you’ll need to add a Visa or MasterCard debit card issued by a US bank to your account. Once you add a debit card, you can create a PIN to provide additional security the next time you send money. On iOS devices you can also enable Touch ID. As always, you can add another layer of authentication to your account at any time.

Facebook said that the new payments feature will be rolling out in the coming months in the US across Android, iOS, and desktop.

Headline News from PaymentsNews.com - March 18, 2015

On the Web:

On the Wires:

  • Openbay, Online Marketplace for Auto Repair, Now Supports Apple Pay - “Openbay remains the only nationwide mobile and web app for consumers to search for, compare mechanics, book an appointment and pay for auto repair,” said Rob Infantino, founder and CEO. “With Apple Pay, we continue to innovate and maintain a first-mover advantage for vehicle repair. The perceived nuisance of getting one’s car or truck serviced is becoming virtually frictionless.”
  • PAR Expands Mobile Point of Sale (POS) Solutions for Restaurant and Retail - “The addition of the PAR Tablet 5 and PAR Tablet POS underscores and reinforces our commitment to bring the best POS solutions to market for our customers,” said Karen E. Sammon, President of ParTech, Inc. “Mobile POS is one of the fastest growing trends in the restaurant and retail space and today’s announcement will help our customers provide better guest experiences in the course of their business.”

Glenbrook's 2015 Payments Education Update!

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!

March 17, 2015

Bill & Melinda Gates Foundation Seeks Solutions to Help Drive Financial Inclusion

The Financial Services for the Poor team at The Bill & Melinda Gates Foundation has launched the second round of its Grand Challenges Exploration by offering two grant opportunities focused on 1) encouraging the adoption of mobile money and 2) collecting richer data aimed at driving financial inclusion in the developing world. You're invited to apply by May 13 and could win anywhere from $100K to $1 million to fund your idea.

Specifically, the Gates Foundation is seeking "forward-thinking and entrepreneurial solutions" for two specific calls to action:


Kosta Peric of the Foundation reminds us: "It only takes one great idea to change this field forever." Click here for more details on the Grand Challenges Exploration.

Headline News from PaymentsNews.com - March 17, 2015

On the Web:

  • Payments on Fire Podcast #15 – Small Business Banking grown from Seed - PaymentsViews.com (George Peabody) - "Listen to this conversation between Glenbrook’s George Peabody and Seed CEO Brian Merritt. While very early in the company’s development, Brian’s description of the company’s “API first” approach banking makes clear what’s possible when legacy technology and processes are in the rearview mirror."

On the Wires:

  • U.S. Bank Becomes Member of clearXchange to Bring Customers Faster, More Secure Digital Payments - “U.S. Bank is committed to bringing customers the most convenient and secure payment options available in the marketplace,” said Gareth Gaston, executive vice president of omnichannel banking at U.S. Bank. “Digital person-to-person payments are far more convenient than writing a check or having enough cash on hand to pay the babysitter or split a rent payment. By joining with clearXchange, U.S. Bank customers have a better way to make those payments quickly, easily and safely. We also have the opportunity to explore other ways this payment exchange network could come to light through our unified, omnichannel approach to customer service.”
  • Rakuten to Accept Bitcoin on Global Marketplaces - Rakuten’s mission is to empower the world through the Internet,” commented Yaz Iida, President of Rakuten USA. “Not only can bitcoin support this vision by helping our merchants better compete globally, but it also has the potential to benefit society by enhancing the security, privacy, and convenience of financial transactions. This is one of the reasons why we invested in Bitnet last year and we look forward to working with them on our US marketplace."
  • Digital River Provides Global Online Payments Solutions for peerTransfer - “peerTransfer is delighted to add Digital River to our suite of existing payment providers,” explained Mike Massaro, peerTransfer’s chief executive officer. “Digital River allows us to lower transactional costs in key regions and countries while enabling us to increase the number of currencies in which we settle."
  • Betty DeVita Appointed Chief Commercial Officer, MasterCard Labs - "In this role Betty will be responsible for developing and managing strategic partnerships focused on commercializing existing and future pipeline MasterCard Labs assets."

Glenbrook's 2015 Payments Education Update!

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!

March 16, 2015

Headline News from PaymentsNews.com - March 16, 2015

On the Web:

  • Alibaba’s Jack Ma Demos Pay-With-Your-Face Technology - Re/code.net - "In Hannover, Germany, Sunday night, where he was a headline speaker at the CeBit conference getting under way this week, Ma capped his speech by demonstrating a payment system on a smartphone using facial recognition technology."
  • Naver Bets On Mobile Payment Boom - Wall St. Journal - "The new mobile payment service, to be called Naver Pay, will allow consumers to buy goods online using smartphones or traditional computers in some cases without having to punch in any passwords."
  • BMO Harris Bank launches cardless ATMs - Chicago Tribune - "Generally, cardless cash machines work by creating a QR code, a square matrix-style bar code. Customers sign into the mobile app and hold their smartphones over the QR code on the ATM, which dispenses the desired cash."
  • Withdraw Cash Without a Card? There’s an App for That - Wall St. Journal - "The latest gambit by banks to reduce card fraud? Get rid of the card."
  • Authorities Closing In on Hackers Who Stole Data From JPMorgan Chase - New York Times - "Law enforcement officials believe that several of the suspects are “gettable,” meaning that they live in a country with which the United States has an extradition treaty."

On the Wires:

  • TA Associates Announces Investment in YeePay - “Key drivers in the third-party payment industry in China include growth in the issuance of bank and credit cards, increased consumer spending, growth in online and mobile payments, and government promotion of non-cash payments,” said Naveen Wadhera, Director and Co-Head of Asia at TA Associates Asia Pacific Ltd. “It is estimated that only 10 percent of small and medium-size businesses in China have a point of sale payment solution, so we expect penetration of that offline market will also drive industry growth.”
  • WEX to receive Australian MasterCard® Issuing Licence under new regulatory framework - "The Australian MasterCard issuing license was granted following regulatory changes made by the Reserve Bank of Australia to the MasterCard and Visa access regimes, which came into effect on 1 January 2015. The changes were designed to encourage access to and greater competition in the Australian market."
  • NCR Software Drives Transaction Switching at Mexico’s Largest Electronic Payments Processor, E-Global - “With the high volumes of transactions handled by E-Global on a daily basis, the support and performance of its transaction platform is essential,” said Steve Nogalo, vice president and general manager of Payments, NCR Financial Services. “With Authentic, E-Global has the flexibility and visibility it needs to deliver a best-in-class experience to its merchants and the consumers they serve.”

Glenbrook's 2015 Payments Education Update!

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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