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Headline News from PaymentsNews.com - January 27, 2016

ON THE WEB

  • Now, pay in your favorite apps with Venmo - Venmo Blog - "When selecting a payment method within a merchant’s app (iOS-only to start), simply tap the Venmo button. Your Venmo account will be instantly connected to the app and you will be all set to pay -- without the hassle of re-entering your payment information."
  • New Boston Fed Research: Consumer Revolving Credit and Debt Over the Life Cycle and Business Cycle - Federal Reserve Bank of Boston - "This paper uses data from the Federal Reserve Bank of New York Consumer Credit Panel (CCP), which contains a 5 percent sample of every credit account in the United States from 1999 to 2014 from the credit reporting agency Equifax. It examines how changing credit availability, debt, and utilization over the business cycle and the life cycle and across individuals relate to U.S. consumers' patterns of incurring, carrying, and paying off their debts."
  • Wendy’s Probes Reports of Credit Card Breach - Krebs on Security - "Wendy’s, the nationwide chain of fast-food restaurants, says it is investigating claims of a possible credit card breach at some locations."
  • Chase to Roll Out Cardless ATMs - NBC 5 Chicago - "The new cash machines will allow customers to withdraw money by logging into their accounts through an app instead of using their ATM or debit cards."
  • Visa Europe Revenue Rises to Record Ahead of Sale to Parent - Bloomberg - “Financially, this was our most successful year ever -– and by quite some distance,” Nicolas Huss, chief executive officer of London-based Visa Europe, said Tuesday in a statement.
  • Vinny Lingham Leaves Gyft, Raises $2.75 Million for Identity Startup - CoinDesk - "The premise of the app, according to Lingham, is that customers will provide Civic with their Social Security number for safe storage in exchange for greater monitoring capabilities."

ON THE WIRES

  • PayPal Reports Strong Fourth Quarter and Full Year 2015 Results - “We exited 2015 with great momentum,” said Dan Schulman, President and CEO of PayPal. “Our strong results reflect PayPal’s progress in delivering on our strategy to drive the digital payments revolution. In the face of a slow global economy and foreign exchange headwinds, PayPal exceeded its full year revenue, earnings, and free cash flow commitments to shareholders. As money becomes digital and the world goes mobile, we see tremendous opportunity ahead to expand our leadership, transform the way people move and manage their money and deliver increased value to shareholders.”
  • Discover Financial Services Reports Fourth Quarter Net Income of $500 Million or $1.14 Per Diluted Share - "We once again delivered a solid return on equity in the fourth quarter. While we achieved record annual originations in both Student Loans and Personal Loans, card loan growth was at the low end of our target range, slower than we'd like," said David Nelms, chairman and CEO of Discover. "We are taking steps to accelerate card loan growth in 2016 while staying disciplined on credit and continuing to execute on our Payments strategy."
  • Visa Europe announces record revenues - "Visa Europe has today announced its highest ever revenues of €2.31 billion – up 25% year-on year (year to June 2015). Costs have been held flat for a fourth successive year and the organisation has returned a record €739 million to its member-shareholders in the form of rebates and joint-investment initiatives."

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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