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February 06, 2015

Headline News from PaymentsNews.com - February 6, 2015

On the Web:

  • Post Paytm stake buy, Ant Financial has no plan to invest in other Indian cos - FirstPost Business - "This deal is being seen as Alibaba's entry into India, with One97's Vijay Shekhar Sharma telling us earlier that Jack Ma was completely involved in discussions leading up to this transaction."
  • Palantir Buys Fancy That To Add Retail, Shopping Data To Its Analytics Platform - TechCrunch - "Among its features, Fancy That optimizes store operations, including clearing inventories, managing discounts, and understanding customers’ retail habits."
  • Feature Friday: Digital Money Accounting - A VC (Fred Wilson) - "I want Mint.com for digital money services, starting with the Venmo and Coinbase mobile apps. That would be super helpful for me and, I suspect, for everyone using these digital money services."
  • The Race to Replace Bitcoin - Observer - "There’s an epic battle for the future of money, and the outcome is murky. It might have several winners. It might have no winners. But one thing is crystal clear: The most exciting battle in this long war is taking place in San Francisco, and the town isn’t big enough for both Ripple Labs and Stellar, two of the contenders hoping to replace not just Bitcoin but the almighty dollar."
  • Bitcoin continues to evolve into a worse version of the current system - FT Alphaville - "The delay, we are told, came about because the low price of bitcoin caused a breakdown in the so-called “block creation” process, which underpins how the technology clears transactions without the need of a trusted third party such as a bank."
  • The first country to roll out its own digital cash - CNBC - "In 2000, Ecuador moved to ditch its stumbling currency for the U.S. dollar. Now more than 15 years later, the South American country is revamping its monetary system again—using digital currencies."
  • Lessons from an erroneous fraud alert - CreditCards.com - "Before my face got too red, I quickly pulled out another credit card, alas with no rewards, and paid for our food."

On the Wires:

  • UK Consumers turn to contactless as usage surges - "Contactless has now firmly stepped into the mainstream. With usage soaring every month last year, we’ve seen people flocking to contactless payments as they switch away from cash. For retailers, contactless means quicker queues at the tills and greater convenience for their customers.”
  • Intuit Working With State Governments to Solve Emerging Tax Fraud Problem - "During this tax season, Intuit and some states have seen an increase in suspicious filings and attempts by criminals to use stolen identity information to file fraudulent state tax returns and claim tax refunds."

Glenbrook's 2015 Payments Education Schedule Now Available!

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 05, 2015

Headline News from PaymentsNews.com - February 5, 2015

On the Web:

On the Wires:

Glenbrook's 2015 Payments Education Schedule Now Available!

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 04, 2015

Headline News from PaymentsNews.com - February 4, 2015

On the Web:

On the Wires:

  • Wells Fargo Customers Can Now Redeem Credit Card Rewards at ATMs - “Customers live their lives on-the-go and being able to conveniently and simply access their accounts and rewards when and how they want is important,” said Alicia Moore, head of Wells Fargo ATM Banking. “We are always looking for ways to add innovative features and benefits to our ATM network, which gives customers access to their money and accounts 24 hours a day, 365 days a year. By providing customers the ability to redeem rewards for cash or account credit directly at the ATM, we’ve made it more convenient for them to feel truly rewarded for doing business with Wells Fargo.”
  • Consumers Can Now Use Their BECU, Fifth Third, First Niagra and Hungtington MasterCard with Apple Pay - "MasterCard cardholders with a consumer credit or debit card from BECU, Fifth Third, First Niagara and Huntington National Bank now have access to easier, more secure everyday payments through Apple Pay."
  • First Tech Federal Credit Union Selects MasterCard for Member Payment Solutions - “MasterCard offers our members the very best in card payment solutions that will enable them to better manage their financial transactions with First Tech while also providing additional security,” said Greg Mitchell, chief executive officer of First Tech Federal Credit Union.
  • First Data Receives Data Security Approval from UK Information Commissioner’s Office - “We are committed to setting the industry standard for superior data privacy protection,” said Cindy Armine-Klein, Chief Control Officer at First Data. “By conforming to the strict data privacy standards set forth by the EU, we can offer our clients the peace of mind that comes with knowing they have a trusted partner managing their data.”
  • Four More PSCU Credit Unions Enable Members to Use Apple Pay - "PSCU announced today that Visa cardholders with consumer debit and credit cards from Altra Federal Credit Union (Onalaska, WI), Andrews Federal Credit Union (Suitland, MD), and Wescom Credit Union (Pasadena, CA); and members with credit cards from BECU (Tukwila, WA) now have access to Apple Pay..."
  • Remitly Expands to India - "Remitly’s coverage in India spans a network of over 120 banks and their branches. Instant direct deposit is available for many banks year-round, 24/7, including ICICI, Yes Bank, and PNB. Four-hour deposit is available during regular Indian banking hours for all other banks."

Glenbrook's 2015 Payments Education Schedule Now Available!

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 03, 2015

Headline News from PaymentsNews.com - February 3, 2015

On the Web:

On the Wires:

  • Digital River Expands Relationship with American Express to Enhance Payment Services in Mexico - “We know from experience managing more than $30 billion in annual online transactions that consumers are more apt to buy when convenient and familiar payment options are available to them,” said Souheil Badran, Digital River’s senior vice president and general manager of Digital River World Payments. “Adding these services in Mexico will help us further expand our existing relationship with American Express and strengthen our international payments offering.”
  • Jumio Unveils New ID Scan Image Capturing Technology in Latest Version of Netverify - "The new release features a brand new ID image capturing technology, which allows users to position their ID any which way within their camera view. This enhanced template matching capability automatically detects the ID edges, rotates, and accurately crops it in the frame, regardless of the angle at which the user is holding the ID."
  • PEX Visa Prepaid Card and Tallie Launch Integrated Expense Management Solution - “The core value proposition of the PEX Visa Prepaid Card service is that it eases the burden companies place on their employees and accounting departments to cover expense outlays,” said Chris Farrell, CEO of Tallie. “PEX Card allows companies to issue prepaid corporate cards to all employees without the same risks of issuing traditional corporate cards or the accounting labor associated with cash advances."

Glenbrook's 2015 Payments Education Schedule Now Available!

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 02, 2015

Headline News from PaymentsNews.com - February 2, 2015

On the Web:

  • Apple on privacy, security and identity - Benedict Evans - "But if Apple did connect the dots to create an identity product, and could remove enough friction and pain to make it compelling, then talking about privacy would make much more sense, because at that point privacy, security and identity become part of the same product conversation."
  • Big Layoffs Begin at eBay and PayPal - Re/code.net - "The cuts come a few weeks after eBay announced it would cut 2,400 jobs across the entire company by the end of the quarter."
  • Small Banks Score Gains in Lifting Regulation - Wall St. Journal - "Since the 2010 Dodd-Frank law ushered in a spate of new regulations, community bankers have fanned out across Washington to emphasize the differences between small “Main Street” banks focused on local lending and Wall Street firms they say are fixated on transaction volume."
  • Does Bitcoin still matter? - CBS News - "Bitcoin has a sales job to getting people to trust it, which is ironic because it was set up to be a trustless system," said Paul Vigna...
  • Cash Is Definitely Not King For Card-Carrying Swedes - NPR - "Around the world, cash is fading. Electronic transactions are becoming a bigger part of the economy every year. And one of the leaders in this trend is Sweden, where more than 95 percent of transactions are digital."

On the Wires:

  • Visa Inc. Appoints Vasant M. Prabhu as Chief Financial Officer - “After a thorough global search, we are thrilled to have Vasant join the Visa leadership team,” said Charlie Scharf, Chief Executive Officer of Visa Inc. “Vasant is a seasoned executive with a wealth of experience across a wide range of global businesses. His financial leadership, operational abilities, strategic focus and global mindset will be extraordinarily valuable to us, as we continue to grow our business around the world.”
  • ETA Launches Digital Currency Showcase at TRANSACT 15 - "ETA is at the forefront of payments technology, and TRANSACT 15 is our industry's most important event," said Jason Oxman, CEO of ETA. "With the launch of our World of Bitcoin showcase, and our partnership with BitPay to accept bitcoin payments, TRANSACT 15 is now the place to be for digital currency in 2015."
  • Xoom Launches Instant Money Transfer Service to China, Processed Through UnionPay - "This instant bank deposit service allows Chinese immigrants with a U.S. bank account, credit card, or debit card to conveniently send money online to most bank accounts in China within seconds. With the addition of China, Xoom’s money transfer service now reaches 31 countries worldwide."
  • ATMIA Releases the Results of Its New ATM Channel EMV Readiness Survey - "One of the key findings of the survey is that, as of the end of 2014, 65% of respondents report having at least one ATM capable of handling EMV transactions. This is more than a four-fold increase over the April, 2013 results, which found that only 12% of operators could make that claim. Further, 61% of all operators anticipate that by the end of 2016, which is the general timeframe of the first domestic liability shift for ATM acquirers, the vast majority of their ATMs will be capable of handling EMV transactions."
  • Millennials Make 2015 the Year of the Milestone - "It’s been widely reported that for many Millennials, “30 is the new 20,” with many delaying major life milestones, like full-time employment, marriage and having children. However, recent data from the American Express Spending & Saving Tracker suggests that as the economy continues to recover, Millennials will make 2015 a year of major purchases and life experiences."
  • U.S. Bank Announces 2015 "Dynamic Dozen" - “We place tremendous value on the potential of the millennial generation and this group is instrumental in making U.S. Bank relevant to current and future millennial customers and employees,” said Kent Stone, vice chairman of consumer banking for U.S. Bancorp, and one of the program’s executive sponsors.

Glenbrook's 2015 Payments Education Schedule Now Available!

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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