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« October 18, 2015 - October 24, 2015 | Main | November 1, 2015 - November 7, 2015 »

October 30, 2015

Headline News from PaymentsNews.com - October 30, 2015

What I'm Reading

  • This weekend your editor will be reading If You Really Want to Change the World: A Guide to Creating, Building, and Sustaining Breakthrough Ventures by Henry Kressel and Norman Winarsky. From the book's description: "Drawing on the authors’ experiences as well as those of their partners from around the world, Kressel and Winarsky share the stories of their triumphs and misses, demonstrate their method in action, and inspire their readers in the process. There are more opportunities now than ever before to build breakthrough companies that touch millions of lives. If this is your goal, let this book be your guide to creating world-changing ventures."
  • How about you? What are you reading? Drop me a quick note and tell me about it: editor@paymentsnews.com

On the Web

  • Visa Nears $22 Billion Deal to Buy European Counterpart - "The Foster City, Calif.-based payments network is in advanced negotiations to buy its European counterpart—Visa Europe—for about $22 billion in a deal that would unite Visa’s global operations under one roof, according to people familiar with the matter."
  • Heartland CEO: Blockchain Could Power Trillions in Bank Transactions - "It seems to me that the play is for banks [to use blockchain] to settle between themselves. There’s trillions in very high-end transactions going back and forth across borders between businesses," he said, adding without any real vigor: "That might be the breakthrough."
  • Fidelity Launches Fidelity App for Apple TV - "Starting today, the Fidelity App for Apple TV® is available on the all-new Apple TV, giving investors a new, convenient way to keep tabs on the markets and generate investing ideas. Fidelity is one of the first brokerage firms to offer an app for Apple TV, which owners of the new Apple TV can download on the App Store for Apple TV. Users can navigate the Apple TV app with its Siri Remote to display a variety of market data."

On the Wires

  • MCX CEO Brian Mooney Discusses New Partnership with Chase to Enhance CurrentC™ for Consumers - "Discussing MCX’s progress in bringing CurrentC™ to market, including its ongoing public beta, Mooney noted that the company continues to gather valuable insights from Columbus consumers, who can use the platform at more than 200 participating retail locations, including local CVS/pharmacy, Exxon, Giant Eagle and Giant Eagle Market District, Kmart, Mobil, Sam’s Club, Sears, Target, Walmart and Wendy’s locations. The beta will soon expand to include select local Shell fuel stations."
  • Heartland Acquires Digital Dining - "Headquartered in Springfield, Virginia, Digital Dining offers restaurants the convenience of a handheld POS on an iPad, iPhone, iPod and iPad Mini in a hybrid environment with conventional fixed terminals. Digital Dining is also used by restaurateurs for table management, delivery, reservations, labor scheduling, inventory and loyalty programs."
  • UnionPay International Launches mPOS Service in Pakistan - "This is an important progress of UnionPay International aiming at promoting innovative payment solutions in markets where the payment industry is still at an early stage of development. The Mobile POS solution, characterized with lost cost and high security features, will enable more small and medium businesses in Pakistan to accept UnionPay cards, and will expand use scenarios of UnionPay cards by local residents and business travelers to Pakistan."

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!

October 29, 2015

Headline News from PaymentsNews.com - October 29, 2015

On the Web

On the Wires

  • MasterCard Incorporated Reports Third-Quarter 2015 Financial Results - “We are pleased with the results we delivered this quarter, in spite of the ongoing uncertainty in the global economy. We continue to see double-digit growth in both volume and transactions in most of our regions around the world,” said Ajay Banga, president and CEO, MasterCard. “As the world becomes more digitally driven, our innovations and investments in things such as MasterPass, EMV and biometrics are helping to redefine the way people shop and pay with convenience and security.”
  • OmnyPay Unveils Omni-Channel Mobile Payments Solution Aimed at Retailers - "“This is a game-changer for retailers that goes way beyond anything currently on the market,” said Ashok Narasimhan, co-founder and CEO of OmnyPay. “Not only does OmnyPay’s solution allow seamless integration of all things related to loyalty, rewards, and promotions, it also works across all iOS and Android devices, and across all shopping channels."
  • JCB International Opens Silicon Valley Office - Jun-ichi Minowa, Executive Vice President, Business Design & Development of JCB commented, "Our new Silicon Valley office will enable us to incorporate the latest technology and develop new services in cooperation with enterprises in America and strengthen our existing 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!

October 28, 2015

Headline News from PaymentsNews.com - October 28, 2015

On the Web

  • MasterCard, CIBC and New York Life Join DCG Funding Round - CoinDesk - "Payments giant MasterCard has been named as one of 11 investors in Digital Currency Group's (DCG) new funding round."
  • Razorpay on a mission to simplify online payments in India - Entrepreneur India - “We are building the next generation payments infrastructure which will accelerate the future e-commerce growth in India. Our patented technology will greatly help in achieving higher transaction success rates and faster checkout time especially on mobile devices while making payment gateway integration as easy as embedding a few lines of code."
  • JPMorgan Chase Is Crushing It in Payments - Motley Fool - "The payments industry is changing rapidly, and, at least for now, it appears JPMorgan has a huge leg up on the competition."

On the Wires

  • PayPal Reports Strong Third Quarter Results - “PayPal is entirely focused on digital payments and transforming money for people around the world. This clear focus and our strong value proposition allowed us to deliver strong financial results in the third quarter,” said Dan Schulman, President and CEO of PayPal. “We are operating in a time when change is sweeping through the financial services industry driven by the rise of mobile technology and the acceleration of money becoming digital. These two massive trends play directly to our strengths and we are leveraging this transformation to extend and accelerate our lead.”
  • American Express Will Bring Apple Pay to Card Members in Key Global Markets - "Apple Pay is expected to be available for Card Members in Canada and Australia this year and in Spain, Singapore and Hong Kong in 2016. With Apple Pay, Card Members in these countries will have the ability to seamlessly add their eligible consumer, small business and corporate American Express® Cards(i) and pay with iPhone or Apple Watch in stores where contactless payments and American Express are accepted."
  • Chase and P97 Enable Mobile Payments for Retail Fuel and Convenient Stores"“With the combination of P97’s PetroZone® mobile commerce platform and Chase Pay we are thrilled to deliver more payment options to consumers at the pump,” said Donald Frieden, President and CEO of P97. “We are confident this combined solution will deliver an innovative mobile payment experience for the retail fuels market customer.”
  • UberRUSH Joins First Data’s Clover® App Market to Simplify On-Demand Delivery Service for Small Businesses"With just a click business owners can set pick-ups and track deliveries directly from their Clover device. In minutes, an UberRUSH delivery partner will pick up the purchased goods from the business and deliver them directly to the customer."
  • Wells Fargo Eliminates Foreign Transaction Fees for Small Business Credit Cards, Lines of Credit - "In a move that will help reduce expenses for U.S. small businesses that are doing business internationally, Wells Fargo today announced it has removed its foreign transaction fees on all business credit card and business line of credit access card transactions made outside the U.S. effective October 1. With this change, Wells Fargo is the only major U.S. bank that today does not charge a foreign transaction fee on all of its small business credit cards."
  • Synchronoss Forms New Venture to Develop Advanced Secure Mobility Solutions Leveraging Technology Contributed by Goldman Sachs - “While some companies have addressed the security of mobile devices at a basic data-loss-prevention level, the biggest challenge facing enterprises is enabling individuals to have a more productive mobile experience at a lower level of risk,” said Dave Schuette, Executive Vice President and President of Synchronoss’ newly created Enterprise Business Unit. “Synchronoss, building off of the technology developed by Goldman Sachs, is extending deeper into the enterprise to bridge this gap and solve the inherent complexity of mobile security by providing a comprehensive mobile framework.”

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!

October 27, 2015

Headline News from PaymentsNews.com - October 27, 2015

On the Web

On the Wires

  • MasterCard and Cardlytics Partner to Deliver an Integrated Card-Linked Loyalty Program for Banks of All Sizes - "MasterCard and Cardlytics today announced an agreement to deliver targeted card-linked services to US banks of all sizes. The new partnership will match Cardlytics card-linked marketing solutions and advertising expertise with MasterCard’s bank partners and its offers and rewards platform to deliver a solution that is unsurpassed in the loyalty business."
  • FIS and The Clearing House Team to Execute a Ubiquitous Real-Time Payment System for the U.S. - "As a global leader in the payments industry, we are proud to join this critical initiative to deliver a game changing real-time payments ecosystem to the U.S. marketplace,” said Nancy Langer, chief product officer, FIS. “We have long invested in delivering real-time money movement capabilities to our clients and view this partnership as an extension of our strategy to disrupt the status quo and empower our clients through new payment paradigms.”
  • Affirm Announces Omnichannel Installment Payment Products for Telesales and Physical Stores - “Our new telesales and in-store payment products help strengthen Affirm’s omnichannel presence,” said Levchin. “Installments are much more than just a way to defer payment temporarily. We now have sufficient data that shows they help merchants boost sales and help consumers, who may not have credit cards or choose not to use them, pay for their online and in-store purchases in a way that best matches their monthly budgets.”
  • Marqeta Adds Leading FinTech and Commerce Brands to Its Payment Innovation Platform; Closes $25 Million Series C Round - "Today, at Money20/20 2015, Marqeta, the Open API issuer processor platform, announced a host of new marquee customers, including Affirm, DoorDash, HyperWallet and Kabbage, alongside known customers such as Facebook, Bento for Business and Perk. Marqeta also confirmed closing a $25 million Series C round."
  • InAuth Launches Game-Changing Device Reputation Network, InExchange - “This is a definite game-changer in the industry”, said InAuth CEO, Lisa Stanton. “Our ability to utilize device identification technology to create a network that enables protection from even the first instance of fraud is unique to only InAuth. Participating in InExchange is a win-win for both consumers and businesses. Consumers want to be able to do more with their mobile without any unnecessary friction, and businesses want to protect their brand and bottom line from fraud losses.”
  • Samsung Pay Advantage Significantly Expands Mobile Payment Merchant Acceptance and Drives Consumer Adoption - "After one month, the numbers say it all: Consumers who have used Samsung Pay are using it repeatedly because it works almost anywhere you can swipe or tap a card," said Thomas Ko, global co-general manager of Samsung Pay. “We’re thrilled to introduce new partners that will build on our early success, and move us even closer to a world in which your mobile phone is a true mobile wallet."
  • Blackhawk Network Announces Partnership to Integrate Gift Cards Into Samsung Pay - "We are thrilled to complement Samsung Pay's groundbreaking mobile payment technology with the upcoming integration of gift cards into the application," said Talbott Roche, president of Blackhawk Network. "Consumers often have several gift cards at any given time, and the ability to integrate them into a single mobile payment solution, coupled with Samsung Pay's unique MST technology allowing for convenient redemption, is expected to provide a value add to Samsung Pay users."
  • BlockCypher Assets API Enables Any Asset on the Blockchain in Only One Step - "With one simple API call, an organization can now issue any asset as custom digital tokens (colored coins) and transfer them securely using the blockchain. “Colored coins” is a term that describes a class of methods for representing and managing real-world assets on the blockchain."
  • FIS Helps Accelerate Acceptance of Mobile Payments at the Pump - "FIS today announced a technology agreement with SAP (NYSE: SAP), in which FIS will integrate the FIS Mobile Payment Enablement Gateway solution with SAP® Vehicles Network running on SAP HANA® Cloud Platform."
  • New GSMA Report Sees North America Leading Global Adoption of New Mobile Technologies - “The North American mobile industry has been the strongest performing of any developed region globally for some time, characterised by substantial subscriber growth, the early adoption of new technologies, high levels of mobile usage and strong revenue trends,” said Michael O’Hara, Chief Marketing Officer, GSMA.

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!

October 26, 2015

Chase Announces ChasePay - with MCX as Premier Merchant Partner

Chase logo 140pxChase has announced Chase Pay – calling it "a better payments experience for in-store, in-app and online purchases."

MCX – which includes retailers such as Walmart, Target, Best Buy and Shell – was announced as Chase Pay’s premier partner. Chase Pay will be progressively rolled out at these merchants who are accepting CurrentC starting in mid-2016. Chase customers will be able to use Chase Pay wherever CurrentC is accepted – either directly, or through the CurrentC app. Chase is also partnering with 17 technology vendors so that merchants who are not Chase Commerce Solutions clients can also participate in Chase Pay.

Chase Pay solves a number of pain points for consumers and merchants. It will improve the customer experience and drive down the cost of payments,” said Gordon Smith, CEO of Consumer & Community Banking at JPMorgan Chase & Co.

Chase said that Chase Pay addresses some of merchants’ biggest challenges – including the cost of payment, merchant fraud liability and speed of checkout. Chase Pay the same technology used to scan gift cards and will be able to connect a merchant’s loyalty program directly into the payment experience. Chase also says that it can work directly with merchants to drive down the cost of accepting payments through fixed pricing with no additional fees.

Chase Pay will be available in mid-2016 to Chase’s customers across its 94 million credit, debit and pre-paid card accounts.

Headline News from PaymentsNews.com - October 26, 2015

On the Web

On the Wires

  • Visa Brings Token Security to eCommerce - "Visa today announced that it has integrated token technology into Visa Checkout, the company’s online check out service used by merchants and consumers globally to make safe, easy payments in just a few clicks."
  • U.S. Banks Unite to Form Industry Leading Secure Real-Time Payments Network - In a joint prepared statement, the CEOs of Bank of America, BB&T, Capital One, JPMorgan Chase, U.S. Bank, and Wells Fargo said, “Our customers want the ability to make payments to anyone, in real-time, making funds instantly available in the recipient’s bank account. To achieve this, we are combining our collective, bank-owned digital payments network (clearXchange) with our fraud, risk and authentication assets (Early Warning), to further ensure that our customers can send money, confidently, securely, and in real-time via their financial institutions.”
  • The Clearing House Drives Closer to Standing-Up New Innovative National Real-Time Payment System - "The Clearing House (TCH) announced it has entered into a letter of intent with VocaLink, the UK-based international payment systems provider, to help build and deliver core elements of TCH’s new real-time payment system for the United States."
  • MasterCard Launches New Program That Can Turn Any Consumer Gadget, Accessory or Wearable into a Payment Device - “As more and more ‘things’ become connected, consumers will have endless possibilities when it comes to how they pay, and will need all of their devices to work seamlessly together,” said Ed McLaughlin, Chief Emerging Payments Officer at MasterCard. “This program eliminates the boundaries of how we pay by delivering a secure digital payment experience to virtually anything – rings, fitness and smart bands, car key fobs, apparel, and whatever comes along next.”
  • Western Union Introduces WU Connect Platform, Expanding Cross-Border Money Transfer via Mobile and Social Media - David Thompson, EVP, Global Operations and Technology and CTO, Western Union, expressed excitement about the potential impact of this new offering saying, "This puts Western Union in a position to extend its digital platform to networks whose users are looking for more convenient ways to send and receive money globally on a platform of their choice."
  • Sequent Launches Token Service Platform Supporting all Card Types and Networks - "Compatible with all major credit and debit card networks, Sequent Token Service Platform allows banks to deploy a single solution to support their entire credit and debit card portfolio plus profitable private label and prepaid cards."
  • E*TRADE Resets Mobile Bar with Apple Pay - "E*TRADE Financial Corporation today announced the release of Apple Pay functionality for E*TRADE debit card holders."
  • Scotiabank First Canadian Bank to Launch Bulk Interac e-Transfer® Service - "Scotiabank is pleased to be the first Canadian Bank to offer this innovative new service to meet the needs of our business banking customers," said Rania Llewellyn, Senior Vice President, Cash Management and Payment Services at Scotiabank. "We are always looking for new ways to make everyday business transactions fast, easy and secure for our customers, and with the Bulk Interac e-Transfer service, our business banking customers have more choices to send electronic payments efficiently."
  • TSYS and Ingenico Group to Offer New Semi-Integrated EMV Solution - "Using a semi-integrated approach, communications between the PIN pad and point-of-sale (POS) system are limited to non-sensitive exchanges, preventing card data from entering the POS. By taking the POS out of the payment flow process, not only are EMV certification and PCI compliance simplified, but overall costs and time required for EMV implementation are reduced as well."
  • Mozido Expands Digital Payments Offering: Launches U.S. - China Cross-Border Payment Gateway - "The Mozido PayEase Payment Gateway service enables Chinese consumers to securely pay with their local bank accounts and credit cards with reliable settlement of the funds to the U.S. merchant’s bank account. As the first and most trusted cross-border payment gateway in China, Mozido PayEase breaks down barriers by allowing Chinese citizens to pay in their local currency while allowing the merchant to be paid in their home currency through a seamless transaction."
  • Dream Payments Launches Canada's First Off-The-Shelf EMV Payment Terminal That Accepts Interac Debit Card Payments - "The Dream solution consists of an MPOS application for iOS® and Android™ based smartphones and a Bluetooth® enabled EMV Debit and Credit Card Reader. The Dream card reader is available through TELUS at an introductory price of $99.99. Payment processing fees are low cost; $0.25 for Interac Debit card transactions and 2.75% for Visa® and MasterCard® credit card transactions."
  • Penny Inc Launches at Money20/20 with Prepaid MasterCard® Card and Integrated Mobile App Solution
  • - "Penny Inc, which provides payments and expense and travel management solutions for small to medium-sized businesses, today announced the launch of the Penny Inc prepaid MasterCard® card program (“Penny”) virtually connected to a mobile app."
  • INTECH to Provide Prairie Cloudware Platform to Credit Union Clients - "INTECH will white label the Prairie Cloudware technology allowing credit unions to offer members a mobile wallet that carries the institution’s brand. The initial deployment of the Digital Payments Guardian for INTECH will offer an Android mobile wallet with a Visa card. The solution can be extended to include additional payment cards and sources as well."

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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