ON THE WEB
- Apple Pay Is Coming To ATMs From Bank Of America And Wells Fargo - TechCrunch - "While it’s unclear exactly how Apple Pay at ATMs would work, it would likely allow people to withdraw money without needing their debit card or credit card."
- Deloitte: New Blockchain Applications Will Accelerate Adoption - CoinDesk - "Deloitte anticipates a number of applications for blockchains across various industries. In a statement accompanying the paper, it cited some example use cases to illustrate the technology's potential."
- Nigerian Fintech Company Interswitch Could Become Africa’s First Public Startup Unicorn - TechCrunch - "Founded in 2002, Interswitch’s product platforms process the bulk of the country’s growing volume in electronic bank, government, and corporate financial transactions."
- India Invents the 10-Second Loan - Wall St. Journal - "Indian banks are rushing to lend to the country’s middle class, making it easier for people to buy appliances, phones and motorbikes and helping fuel a rise in domestic demand that is powering growth in India..."
- Tencent’s WeChat Wallet lands in Hong Kong, beating Apple Pay as public migrates to mobile payments - South China Morning Post - "Hong Kong users who are part of the pilot programme will be able to link their Hong Kong credit cards to the service and purchase items using the WeChat app including movie and flight tickets."
- Bank of England to Explore Distributed Ledger Tech for Settlement - CoinDesk - "The Bank of England has indicated it will consider the impact of distributed ledgers as part of a plan to modernize the country’s settlement system."
- Visa Readies Super Bowl Effort - Marketing Daily - "Beginning Jan. 30 and running through the day of the Super Bowl, Visa’s corporate headquarters, located in the heart of Super Bowl City, will act as a canvas for the Visa Super Bowl 50 Digital Light Show."
- Russia’s VTB Creates New Retail Bank in Joint Venture With Russian Post - Wall St. Journal - "The new bank will operate through branches of state-owned Russian Post, which has more than 42,000 offices across the country’s 11 time zones."
ON THE WIRES
- Visa Inc. Reports Fiscal First Quarter 2016 Results - “We continue to be pleased with our financial performance given the uneven global economy and the ongoing negative effects of the strong U.S. dollar. While we continue to see relatively strong payments volume growth, these factors have meaningfully reduced our cross-border volume and revenue growth. While these headwinds do not appear to be abating in the short-term as we had hoped, the fundamentals of our business remain strong and our long-term growth trajectory remains intact as we navigate through this uncertain environment,” said Charlie Scharf, Chief Executive Officer of Visa Inc.
- Credit Karma Now Serves 50 Million Members - "Credit Karma’s 50 million-strong member base accounts for 22 percent of all Americans with a credit profile in the United States, who use the platform to help them manage over $3 trillion in household debt. The company has given away more than one billion free credit scores since launching its product in March 2008, without charging members a penny to use its service."
- Alliance Data Reports Full-Year 2015 Results - Ed Heffernan, president and chief executive officer of Alliance Data, commented, "It was an exceptional year for Alliance Data as we drove 20 percent growth in both revenue and core EPS despite substantial FX headwinds. Overall, the scorecard for all three segments is largely positive."
- ID Experts Raises $5 Million in Financing from BlueCross BlueShield Venture Partners and Sandbox Advantage Fund - "We look at this investment as a strategic partnership with ID Experts," said Tom Hawes, M.D., Managing Director at Sandbox Industries who will join the Board of Directors at ID Experts. "ID Experts is poised for rapid growth with its data breach and identity protection solutions, especially in the healthcare space with its innovative MIDAS™ medical identity monitoring service."
- 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.
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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: email@example.com!