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Headline News from PaymentsNews.com - January 18, 2016

ON THE WEB

  • Networks Put Their Money on Checkout for Mobile - PaymentsViews.com Podcast "These checkout assistants—you could even stretch the definition a bit and think of them as wallets—use the payment tokenization specification from EMVCo. But as products from competitive networks, each has unique attributes, never mind its own APIs specification. Glenbrook’s Russ Jones takes us for a pretty deep dive into how these tools work. And the benefits they provide to merchants especially in mobile commerce."(Russ Jones/George Peabody) -
  • Is Bitcoin Breaking Up? - Wall St. Journal - "This isn’t the first time somebody has written bitcoin’s obituary. What is different is this obit was being written by a prominent insider, and it hit a raw nerve in the community. "
  • The Bitcoin experiment is NOT over - Medium (Ron Gross) - "What’s nice about Bitcoin, as opposed to say the banking industry, is that wars escalate to be open, rather than fought behind closed doors. We air our dirty laundry out in the open."
  • Restructuring the Financial Infrastructure, Patrick Collison, CEO Stripe - Medium (Robert Siegel) - "As engineers compare notes on the ease-of-use and speed with which they are enabling revenue systems for their companies, a virtuous circle is reinforced where not only is there an increased velocity in which companies deploy systems such as Stripe, but also there is an unleashing of creativity around all aspects of the shopping and purchasing experience."
  • Android Pay Rewards “Tap 10” Could Land You a Free Chromecast, Songs on Google Play Music - DroidLife - "The promo is called “Tap 10” and involves paying for items with Android Pay, hence the “Tap” portion of the name. The idea is pretty simple – the more you tap and pay, the more free stuff you get."

ON THE WIRES

  • Federal Reserve Selects IBM to Modernize its Retail Payments Processing Platform - “By modernizing our payments systems, we will be well positioned to converge our existing retail payment operations and payment infrastructure onto a unified platform,” said Brian Egan, Senior Vice President, of the Retail Payments Office of the Federal Reserve Bank of Atlanta. “This will enable us to process payments more cost effectively and position us to more quickly adapt to changes in the ACH and electronic check payments environment. Both of these outcomes are consistent with our strategies to continue to provide financial institutions with high quality and cost effective ACH and electronic check clearing services”.
  • CFDFE, CFPA and Visa Partner to Promote Innovative Financial Inclusion Activities and Support Poverty Alleviation in China - "Visa today announced it will partner with the China Foundation for Development of Financial Education (CFDFE) to build a "China Financial Inclusion and Education (Jinhui Project) International Demonstration Zone" in the Great Xing'an Mountain Poverty Alleviation Area. Also, in a strategic partnership, Visa and the China Foundation for Poverty Alleviation (CFPA) will conduct a mobile-phone based financial education pilot program in the Inner Mongolia Autonomous Region and explore a new mode of targeted poverty alleviation."
  • Wirecard to Become Strategic Development Partner of Visa Europe Collab / Cooperation to Serve the FinTech Space - "As a strategic development partner of Visa Europe Collab, Wirecard will provide its technology and banking solutions as well as its in-depth market expertise. The aim of this close collaboration is to jointly offer FinTech start-ups and technology entrepreneurs the insight, partner networks and essential tools like platforms and interfaces to develop services are set to revolutionise the payment experience."
  • AJB Announces New U.S. EMV Host Certifications with First Data and Elavon - "AJB has completed host certifications with American Express, ChasePaymentech (Tampa), Elavon (Fusebox), First Data (Buypass, Nashville, North and Rapid Connect) and Vantiv (ISO & 610)."

EVENTS

  • Payments in Portland (OR) - Join us Thursday, January 28th from 5:30-7:30 PM to hang out with your colleagues and competitors to discuss all things payments! We'll have appetizers, Oregon beer and wine. For the first time, Payments in Portland is including a short topical briefing - this month on "B2B Payments - Promise and Problems." If you have a Portland payments presence and something to say on B2B payments, let us know! RSVP HERE!
  • Real Time Payments in the US: Implications for the Payment Industry - Atlanta, GA - February 10, 2016. Glenbrook's Elizabeth McQuerry will be moderating this discussion on what "faster payments" really means, how it's been implemented in other countries, and how it may shape banking and how we pay.

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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