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May 08, 2015

Headline News from PaymentsNews.com - May 8, 2015

On the Web:

On the Wires:

  • Global Bitcoin Exchange itBit Today Starts Accepting U.S. Customers Nationwide Through New York State Trust Company Charter - “Our mission at itBit has always been to create a trusted, institutional-grade exchange and regulatory compliance is an important pillar of that mission,” said itBit CEO and co-founder Charles Cascarilla. “Regulatory approval from the NYDFS allows us to serve as a custodian for our clients’ assets and expand our services to U.S. customers – the largest market of bitcoin traders in the world – and allows us to do so with the highest standard of care afforded by any Bitcoin company.”
  • Elavon Promotes Wally Mlynarski to Lead Global Product and Innovation - “Wally has been instrumental in driving Elavon’s efforts to bring some of our most sophisticated products and services to market that allow customers to engage consumers as they shop online, offline and via mobile devices,” said Simon Haslam, president and CEO of Elavon. “Wally’s new role speaks to his many talents as well as Elavon’s commitment to attract and develop the best talent in the industry.”
  • NCR Modernizes Payments Infrastructure with Launch of Latest Version of Authentic - “We are committed to providing our customers with a modern, flexible payments infrastructure that will grow with them and enable them to respond to any demands the business places on them,” said Steve Nogalo, vice president and general manager of Payments Solutions at NCR. “With the latest version of Authentic, we have incorporated the flexibility of the Google Web Toolkit, as well as providing new features and enhancements to further improve usability and flexibility. With Authentic we constantly strive to deliver a solution that our customers can rely on today and in the future – whatever the future may bring.
  • Green Dot Reports First Quarter 2015 Financial Results - ""These positive results represent our first full quarter of the new, consolidated Green Dot, inclusive of our acquisition of TPG and two smaller prepaid program managers, AccountNow, Inc. and Achieve Financial Services, LLC. Despite being negatively impacted by approximately $12 million resulting from fewer reload transactions attributed to the discontinuation of MoneyPak, we posted significant revenue and adjusted EBITDA growth during the period as a result of both the incremental revenue and EBITDA contribution from our new acquisitions and better-than-expected performance in our organic branded and private label account business."

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!

May 07, 2015

Headline News from PaymentsNews.com - May 7, 2015

On the Web:

  • PayPal co-founder raises $275 million to reinvent credit - "Banks and financial institutions have not created products that serve younger generations in the most efficient way, according to Max Levchin, the co-founder of eBay-owned payments giant PayPal."
  • BitBeat: Day After FinCEN Bombshell, Ripple Labs Addresses Concerns - Wall St. Journal - "Even with these clarifications, questions and speculation will continue to percolate around FinCEN’s dramatic action against the second-biggest digital currency in market capitalization terms."
  • Visa Moves At The Speed Of Money - Forbes - "None of which seems to faze Visa’s chief executive, Charlie Scharf. In time, he says, would-be Visa disruptors all discover–just as Internet upstarts PayPal, Square and Uber did–that it is simply easier and more economical to work with his leviathan than fight it."

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!

May 06, 2015

Headline News from PaymentsNews.com - May 6, 2015

On the Web:

On the Wires:

  • Pitney Bowes Expands Cross-Border Ecommerce Capabilities with the Acquisition of Borderfree - “The acquisition of Borderfree not only makes sense for our clients, it accelerates our strategic vision to grow our company through expansion of our digital commerce businesses,” said Marc B. Lautenbach, President and Chief Executive Officer, Pitney Bowes. “The combination of Borderfree’s cross-border ecommerce capabilities with our own solutions expands our portfolio of offerings and extends our global reach."
  • FinCEN Fines Ripple Labs Inc. in First Civil Enforcement Action Against a Virtual Currency Exchanger - "Ripple Labs willfully violated several requirements of the Bank Secrecy Act (BSA) by acting as a money services business (MSB) and selling its virtual currency, known as XRP, without registering with FinCEN, and by failing to implement and maintain an adequate anti-money laundering (AML) program designed to protect its products from use by money launderers or terrorist financiers."
  • Tipalti Expands International ACH Global Payments Coverage - “As our network economy customers continue to expand their international partner and supplier footprint to new markets, we will continue to provide more and more payment options around the world to support our clients’ rapid global growth,” said Chen Amit, founder and CEO of Tipalti.
  • WEX Inc. Introduces FlexCard, the New Revolving Fuel Card for Small Businesses - “Although many businesses are enjoying lower fuel prices today, our research shows that nearly half of businesses’ operating costs are fleet related and about half of that is for fuel,” said Peggy Watson, WEX’s vice president of North America fleet product and marketing. “For 30 years, WEX has helped businesses manage fuel and vehicle services expenses, and this customized solution addresses small businesses’ need for cash flow flexibility.”
  • AcceptEmail, Western Europe’s Leader in Consumer Bill Payments, Opens for Business in New York - "AcceptEmail is the market leader for consumer remittances in Western Europe. IntelligentHQ.com named the company one ofEurope’s 50 Hottest FinTech Companies in 2014 for its smart email and mobile billing solutions. Companies that send AcceptEmails experience up to 50% quicker payments, 70% lower billing and reminder costs, and 20% improved customer satisfaction (net promoter scores)."
  • Seamless Distribution AB: SEQR to Be Launched in the US This Summer - "SEQR has received a warm welcome here in the US, because of its value propositions for both the merchants and consumers. Having seasoned market industry personnel on staff has also been key to actively cultivating our partnerships and together we have developed the services to fit the local market, says Kenneth Douglas SVP Business and Partnership Development for SEQR in the US."
  • Smart Payment Association (SPA) releases total market estimate 2014 figures - "In 2014, over 2050 million chip payment cards were shipped across the world. The figure was reached just three years after global shipments exceeded the one billion mark in 2011."

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!

May 05, 2015

Headline News from PaymentsNews.com - May 5, 2015

On the Web:

  • Faster Now Faster? - PaymentsViews.com (Carol Coye Benson) - "Today I want to express my enthusiasm about these developments, beam encouragement at the industry, and advocate for a few additional points that I think are important in the design phase."
  • MasterCard’s New Chief Commercial Officer Taking Digital Payment Tech Beyond Lab - Wall St. Journal - "Betty DeVita, former president of MasterCard Canada, starts Tuesday, charged with commercializing ideas that come out of MasterCard Labs, a technology research group started in 2010. Among her first priorities will be Qkr, a payments technology that lets consumers place orders and pay bills with a MasterPass digital wallet."

On the Wires:

  • Widespread UK launch of V.me by Visa - Kevin Jenkins, managing director UK & Ireland at Visa Europe commented: “The UK is the European leader of online commerce with a valuable and diverse range of companies that conduct business online. This announcement is a further proof point of our ability to innovate, building on our market success in contactless. We’re excited to be working with our member banks and many of the UK’s leading retailers to do this and look forward to new partners coming on board.”
  • MasterCard Supports U.S. Small Businesses Making Big Shifts to Chip Cards - “Chip cards all but eliminate counterfeit fraud. We know this because we’ve seen significant fraud reductions in all 80+ countries where EMV has been implemented,” said Carolyn Balfany, senior vice president of Product Delivery – EMV, MasterCard. “The power of chip is realized as more cards and terminals are enabled and used. The goal isn’t to move card fraud around the system. The goal is to drive card fraud out of the U.S. – benefitting banks, merchants and, most importantly, consumers.”
  • Boku Launches on Google Play in the Middle East“By connecting with Boku, Zain KSA brings tremendous value to their subscribers who want a trusted and seamless way to purchase their favorite Google Play content,” said Boku CEO Jon Prideaux. “Given our leading market position, Boku is well positioned to extend this partnership to other carriers across the globe. The opportunities for carriers are truly limitless when a company with Boku’s global footprint integrates with one of the world’s most popular app stores.”

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!

May 04, 2015

Headline News from PaymentsNews.com - May 4, 2015

On the Wires:

  • American Express Launches New Plenti SM Cobrand Credit Card and Membership Rewards® Points Transfer Relationship - "Plenti is the first loyalty coalition involving major U.S. brands that lets consumers earn Plenti points at one place and use them for savings at another. Partners include many of the places where customers shop and spend every day, such as AT&T, Exxon, Macy’s, Mobil, Nationwide, Rite Aid, Direct Energy, Enterprise Rent-A-Car and Hulu."
  • Plenti℠ – First US Coalition Loyalty Program Available Now - "Plenti members can use any form of payment that the partner accepts at checkout – cash, credit, debit or prepaid. This means that if they have a card product with other rewards benefits, they’ll earn those rewards in addition to the points collected through Plenti."
  • Visa Launches Online Toolkit to Educate Business Owners on Benefits of Chip Technology - “Chip technology will bring an important new layer of security for credit and debit cards by helping to make stolen account information useless to criminals,” said Stephanie Ericksen, vice president of Risk Products, Visa Inc. “It is a priority to increase merchant awareness and understanding, given a liability shift in October 2015, after which merchants who are not ready to accept chip cards may be responsible for counterfeit fraud.”
  • Payment Security Task Force: Issuers Forecast U.S. Shift to Chip Cards To Be Nearly Complete by 2017 - "Eight financial institutions, representing approximately 50 percent of the total U.S. payment card volume, estimate that 63 percent of their credit and debit cards will contain EMV chips by the end of this year, expanding to 98 percent by the end of 2017. The forecast reaffirms the ongoing commitment to chip migration as a step toward increasing U.S. payment security across the ecosystem."
  • MasterCard Business Network 2.0: For U.S. Business Owners, It’s About Time…And Money - “Business owners have a split second to switch from being the CTO to the CFO to the CMO of their companies. MasterCard Business Network 2.0 helps save time by putting c-suite level information at business owners’ fingertips, all just a click away,” said Jay Singer, senior vice president of U.S. Commercial Products, MasterCard. "We give business owners the information they need, at the moment they need it, helping their businesses grow. And we are now offering these tools at significant savings."
  • FIS Reinvents Banking Access in India, One ‘e-Lobby’ at a Time - “Karnataka Bank’s mission is to serve our customers in a technologically savvy, high-quality manner,” said Sri. P. Jayarama Bhat, managing director & chief executive officer, Karnataka Bank. “Not only will FIS’ support allow us to better focus on our customers, it also will make us one of the first mid-sized banks in India to provide e-lobby access, extending more convenient access to our customers and allowing us to better compete with larger banks.”

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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