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May 01, 2015

Headline News from PaymentsNews.com - May 1, 2015

On the Web:

On the Wires:

Glenbrook's 2015 Payments Education

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!

April 30, 2015

Headline News from PaymentsNews.com - April 30, 2015

On the Web:

  • New Circle Investors, New US Dollar Account Features, China Horizons - Circle Blog - "Today we announced a major step forward in the execution of our vision and product strategy. We've closed a new $50 million strategic investment round co-led by Goldman Sachs and IDG Capital Partners."

  • This Digital Wallet Could Finally Get You Into Bitcoin - "In other words, the Circle wallet will soon work just like Venmo or any other money-transfer app, except it also works seamlessly with bitcoin, so you can handle your money in the form you value the most."

  • Capital One exec predicts mass shift to Apple Pay this year - Mobile Commerce Daily - “I really believe we’re going to have this mass shift over to contactless payments,” Mr. Moreton said. “What you see is this huge change over a relatively short period of time.”

  • In Code We Trust - New York Times Magazine - "One way to understand this chaos is to see that power is shifting. The authority to create, move and define money — once confined to central banks and treasury departments — is being dispersed to an odd mix of entrepreneurs, libertarian hackers and old-line banking institutions."

  • Financial Giants Set Up Tech Hubs in Manhattan - Wall St. Journal - "MasterCard is one of several big-name financial services firms that are opting to set up tech divisions in prime Manhattan real-estate markets outside of their headquarters because many increasingly see themselves more as technology companies."

  • Online hackathon seeks to build solutions using Aadhaar app interface - Business Standard - "AngelPrime, a seed-stage venture capital fund based in Bengaluru, and Nasscom, in collaboration with UIDAI, will host the first of its kind online 'Aadhaar Application Hackathon' in June this year. The hackathon aims to encourage and promote the development of applications using the Aadhaar application programme interfaces (APIs)."

  • Bitcoin Could Impact Credit Unions, Report Says - CoinDesk - "...we could see the proliferation of a host of new financial services backed by bitcoin, many of which are directly associated with the core businesses of credit unions today."

On the Wires:

  • Visa Inc. Reports Fiscal Second Quarter 2015 Net Income of $1.6 billion or $0.63 per Diluted Share - “Visa reported another solid quarter of financial results against the continued backdrop of a tepid global economy. While the negative impacts from the strengthening of the U.S. dollar and lower gasoline prices continued to exert pressure on revenue growth, our results and volume trends have remained strong,” said Charlie Scharf, Chief Executive Officer of Visa Inc.

  • Visa Expands Global Technology Research; Hires Senior Scientist to Lead Visa Research Labs - “Digital commerce is rapidly evolving due to the introduction of new technologies. As the world becomes more connected, every device, car, or appliance becomes a place where secure digital commerce can take place,” said Rajat Taneja, Executive Vice President, Technology, Visa Inc. “I am excited to expand our technology research efforts and have Min lead Visa Research Labs. This effort has the potential to shape the way we pay and get paid in the future, and transform the lives of millions of unbanked consumers by finally providing them with access to secure digital commerce.”

  • MasterCard Named Exclusive Card Processor by Green Dot Bank - Green Dot Chief Operating Officer, Kuan Archer said, "Our processing technology team has been working closely with MasterCard for the past 15 months on the integration of our two technology platforms. While certainly this project has required a significant amount of time and effort, we believe the ultimate end-state of having the most state-of-the-art, high-scale processing platform underpinning our current and future suite of modern banking products and mobile solutions will pay off in terms of our ability to create new, innovative products and services."

  • Visa: Payments Industry Moves to Help Simplify Chip Card Acceptance - "The Payments Security Task Force today joined with the PCI Security Standards Council and the EMV Migration Forum to launch a chip education curriculum and “pre-qualification” program to help streamline and simplify the EMV testing and certification process for Value Added Resellers (VARs) and Independent Software Vendors (ISVs). ... To learn more about the educational efforts, visit
    http://www.emv-connection.com/chip-education-for-vars-isvs-and-merchants/

  • Stratos Card Begins Shipping In April - "Stratos Card combines credit, debit, membership, gift and other magnetic stripe cards in one digital Bluetooth card."

Glenbrook's 2015 Payments Education

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!

April 29, 2015

Headline News from PaymentsNews.com - April 29, 2015

On the Web:

On the Wires:

  • MasterCard Incorporated Reports First-Quarter Financial Results - “We are managing well, despite a mixed economic environment and challenging currency situation,” said Ajay Banga, president and CEO, MasterCard. “The underlying fundamentals of our business remain unchanged, driving our ability to sign new agreements with Citi and Itaú, work with digital giants and expand our support of the merchant community. This, combined with our focus on costs, allowed us to continue to deliver solid results in the first quarter.”
  • Merchant Customer Exchange (MCX) Appoints Brian V. Mooney Chief Executive Officer - "Mooney was most recently CEO and a board member of Bank of America Merchant Services, one of the largest U.S. merchant payment acquirers, serving a significant segment of large U.S. merchants and handling billions of transactions."
  • Banking with a Fingerprint: Digital Insight Offers Touch ID to Access Finances - “Touch ID frees consumers from having to enter their username and password in order to access their finances,” said Dan Weis, senior product manager at Digital Insight. “The speed and ease-of-use of Touch ID will provide financial institutions another innovation to offer their customers and members and further help them differentiate in the marketplace.”
  • Patent Trial and Appeal Board Grants PQI’s Requests for Review of Three Patents Related to Loyalty Programs - "In October, Askeladden filed six IPR petitions requesting review of the three patents, U.S. Patent Nos. 8,297,502, 8,523,063 and 8,540,152, on the grounds that they are invalid. The PTAB issued decisions on April 23, 2015, which found that Askeladden’s petitions established a reasonable likelihood that each of the claims in each of the patents is invalid. A final decision on invalidity is expected within one year."
  • Introducing Amazon Business: Everything You Love About Amazon, For Your Business - “We’ve heard from business customers that they love the convenience of shopping online, and want an experience at work that is similar to how they shop at home,” said Prentis Wilson, Vice President of Amazon Business. “Amazon Business delivers a new and expanded marketplace that brings the selection, convenience and value of Amazon to business customers, manufacturers and sellers with the additional selection, features and back-end integration businesses need to save time and money.”
  • Western Union and U.S. Bank Extend Relationship - Carter Hunt, Senior Vice President and General Manager, Western Union U.S., said, “We are pleased to extend our relationship with U.S. Bank, and we remain committed to bringing customers the high level of customer service and innovation they have come to expect from our company.”

Glenbrook's 2015 Payments Education

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!

April 28, 2015

Headline News from PaymentsNews.com - April 28, 2015

On the Web:

On the Wires:

  • Chase Commerce Solutions and USA Technologies Form Strategic Relationship - “We continue to enable commerce through a simple, secure payment experience for consumers and for our business clients,” said Kimberly Fitzsimmons, U.S. Market President for Chase Commerce Solutions. “We are pleased to work with USA Technologies, a market leader in this important and rapidly emerging space to accept all types of payments easily and securely.”
  • Synchrony Financial and Stash Hotel Rewards Announce Exclusive Agreement to Provide Co-Brand Credit Card Program - “We created Stash because we saw travelers passing on exceptional hotel experiences to stay at predictable chain hotels, just so they could earn points,” said Jeffrey Low, Founder and CEO of Stash Hotel Rewards. “Stash is designed to let the traveler have it all – a memorable stay and meaningful rewards. By partnering with Synchrony Financial we’re creating a card that accelerates rewards while keeping with our tradition of remarkable experiences without compromise.”
  • Citi Prepaid Services and Enservio Announce Partnership for Prepaid Insurance Payments - Deirdre Ives, Global Chief Operating Officer of Citi Prepaid Services, said, “We are excited to partner with Enservio to provide our prepaid cards to their flexible, innovative, and cost-effective payment solution for the insurance vertical. Prepaid cards are a smart alternative to checks, and our award-winning prepaid product simplifies claims payments for insurance clients while delivering an exceptional cardholder experience.”

Glenbrook's 2015 Payments Education

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!

April 27, 2015

MasterCard Announces Acquisition of Applied Predictive Technologies

MasterCard logo 140pxAfter today's market close, MasterCard announced it was acquiring Applied Predictive Technologies (APT) for $600 million.

Applied Predictive Technologies is a leading cloud-based analytics provider. APT’s Test & Learn® platform helps companies tailor investments and maximize bottom-line impact by harnessing analytics to design, measure and calibrate marketing, merchandising, operations and capital initiatives.

This acquisition advances MasterCard's agenda to deliver differentiated services to merchants, complementing its recent acquisition of 5One, a London-based retail consulting and analytics firm. As part of the company's services portfolio, Applied Predictive Technologies will now have access to MasterCard's analytics suite, consulting capabilities, marketing services and global footprint that will expand its reach and value.

“In today’s competitive business climate, companies need analytics that are easy to use and drive action,” said Kevin Stanton, president of MasterCard Advisors. “APT’s world-class talent, technology and Test & Learn platform, matched with MasterCard’s analytics, will give our customers the advantage of enhanced and actionable decision making.”

Headline News from PaymentsNews.com - April 27, 2015

On the Web:

  • Payments Innovation Jury Report 2015 - The Payments Innovation Jury Report is a report released every two years, detailing global trends in payments innovation, and future opportunities and challenges for the industry. The report is based on the expertise of a panel of 40 business leaders in the payments sector from 23 countries across six continents. Authored by industry insider John Chaplin, the research is essential reading to FinTech investors, innovators, established payments firms and all others involved in the sector. The research is sponsored by Currency Cloud, a Payments Engine transforming the industry, Ixaris, an innovator in electronic payments, and WorldRemit, an online money transfer service.
  • Apple Pay Coming to Best Buy Stores as Retailer Breaks Ranks From Walmart-Led Rival - Re/code.net - "Best Buy is the first big-name U.S. retailer to break ranks with a Walmart-led Apple Pay competitor, announcing today that it will accept Apple’s digital payment system in its U.S. stores later this year."
  • CurrentC mobile pay to kick off in a single market mid-year - Computerworld - In its email on Monday, Rankin said it is "protocol-agnostic" and works in test mode across QR code, Bluetooth and others. "We are in market today with multiple technologies and not opposed to using NFC in the future," he said.
  • Exclusive: Bitcoin company Circle raising new cash - Fortune - "Circle Financial ... is in the midst of raising around $40 million at a pre-money valuation of approximately $200 million, Fortune has learned from multiple sources."
  • Bitcoin’s Q1: Record VC Investment, Falling Prices, And Slow Consumer Adoption - TechCrunch - "The bitcoin-watching news service CoinDesk recently released its first quarter look into the cryptocurrency’s performance during the opening months of 2015."

On the Wires:

  • Apple Reports Record Second Quarter Results - “We are thrilled by the continued strength of iPhone, Mac and the App Store, which drove our best March quarter results ever,” said Tim Cook, Apple’s CEO. “We’re seeing a higher rate of people switching to iPhone than we’ve experienced in previous cycles, and we’re off to an exciting start to the June quarter with the launch of Apple Watch.”
  • Apple Pay Now Accepted in Best Buy App, Coming to Stores Later This Year - "Starting today, Best Buy customers can use Apple Pay to make purchases in the Best Buy app when using an iPhone 6 or iPhone 6 Plus. A free update is now available in the Apple App Store. All U.S. Best Buy stores will begin accepting Apple Pay later this year."
  • Discover to Bring Apple Pay to Cardmembers - “As the mobile payments landscape matures, Discover remains committed to giving cardmembers secure options for using their cards and mobile devices,” said Diane Offereins, Discover’s president of payment services. “Discover’s focus on simplicity and value for our cardmembers aligns well with the way Apple Pay makes purchases easy and convenient.”
  • Global Payments Launches EMV and Contactless Mobile Payments Solution in Canada - "Global Payments Inc. today announced the launch of the new Ingenico Companion Mobile Payment (iCMP) MPOS – a turnkey mobile point-of-sale solution offering full debit and credit EMV and contactless payment acceptance to Canadian merchants."
  • ACI Worldwide: Nearly 80 Percent of Banks, Retailers and Billing Organizations Know They are at Risk of Customer Attrition… - "Surprisingly, given the recent years of legislation across the world, retailers and billing organizations want to work together to provide a richer consumer experience and to slash costs by cutting out intermediaries. 44 percent of organizations claim they are already taking steps to, or would like to eventually, reduce the number of intermediaries in the payments value chain."

Glenbrook's 2015 Payments Education

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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