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February 29, 2016

Headline News from PaymentsNews.com - February 29, 2016

ON THE WEB

  • Square Unlocks Cash Drawer for Square Cash - "Beginning today, Square Cash customers have the option to store money within the app with the new Cash Drawer feature. Cash Drawer gives anyone the ability to stash cash they receive directly in the app or add their own from their bank account, making it easier to set aside funds for future costs like dinners out with friends, or upcoming payments like your monthly rent."
  • Overdraft Practices Continue to Gut Bank Accounts and Haunt Customers - New York Times - "In a push for transparency since the 2008 financial crisis, regulators require banks to clearly disclose and explain the terms of just about every financial product, including credit cards and mortgages. But overdraft practices still come with hidden costs and confusing terms..."
  • The future of Apple Pay: From payments to platform - iMore - "Apple Pay will eventually be more than just a way to quickly make payments in-store and in-app. But how it evolves depends on the scope of Apple's ambitions."
  • Amid Confusion, Venmo Back Pedals Total Shutdown of its API - ProgrammableWeb - "Venmo has apologized for the confusion it created, but it did admit that it will be reevaluating its API."
  • New Payments Tech Is Oiling Wheels of Trade - Raconteur - "Distributed ledger technology offers financial organisations the potential to address challenges around efficiency, trust, transparency and innovation by connecting multiple systems and organisations."
  • MasterCard to use the power of selfies to protect your online shopping - The Age (Australia) - "Using a new system called MasterCard Identity Check - or, colloquially, "selfie pay" - the credit card company will use biometric methods like face recognition and fingerprint scans to better secure online shopping."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming up in early April - both in New York City - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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 26, 2016

Headline News from PaymentsNews.com - February 26, 2016

ON THE WEB

  • Venmo Kills Off Developer API With Zero Warning - TechCrunch - "After six years of providing an API for developers to build experiences atop its money transfer system, this month Venmo suddenly shut down the API. "
  • Travel in London for Free With Apple Pay - PC Magazine - "As part of a promotion from MasterCard and Apple, each Monday beginning on Feb. 29, from 4:30 a.m. until 1 a.m. the next morning, MasterCard-linked Apple Pay users will have their purchases on buses, trams, the Underground, and most other rail services refunded up to 28.10 pounds ($39)."
  • How Mobile Payments Reshape Lifestyles - Wall St. Journal - "Piao Jianfeng says he seldom carries his wallet and hasn’t used an ATM to withdraw cash for two years. Instead, his phone is his wallet, and he uses it to pay for almost all of his everyday needs in Beijing, from taxis to utilities and grocery bills."
  • Intel is Testing a Blockchain it Built With a Fantasy Sports Game - CoinDesk - "The proof of concept works by enabling the exchange of digitized assets that represent shares of different sports teams."

ON THE WIRES

  • UK Payment Systems Regulator: "Banks should sell their stake in UK payments infrastructure to help increase innovation and competition - "The evidence published today indicates that the common ownership of this infrastructure provider by this small number of banks is having a negative impact on innovation and competition in the industry. As a result, the PSR is proposing that these banks sell part of their stakes in VocaLink in order to open the market and allow for more effective competition and innovation."
  • Wirex: A Hybrid Financial Platform That Uses Blockchain Technology - "Wirex is the first service of its kind to provide bankless financial services, and it is designed to close the gap between digital and traditional currencies for everyday financial transactions. Evolving to fill the needs of the global citizen, Wirex will offer 3 main services: convenient mobile banking via the Wirex app, instant remittance services, and upgraded 2-way debit cards that allow on-demand conversion between bitcoin and traditional currencies."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming up in early April - both in New York City - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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 25, 2016

Headline News from PaymentsNews.com - February 25, 2016

ON THE WEB

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming up in early April - both in New York City - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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 24, 2016

Headline News from PaymentsNews.com - February 24, 2016

ON THE WEB

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming up in early April - both in New York City - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

EVENTS

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 23, 2016

Headline News from PaymentsNews.com - February 23, 2016

ON THE WEB

  • How This $2.3 Billion Swedish Company Plans to Dominate the U.S. Payments Sector - Inc. - "Klarna, for that matter, is not your average payments processor. By partnering with merchants, the system allows customers to purchase an item simply by entering their name, email address, and zip code."
  • Amazon Web Services Takes Aim at Big Banks - "The company’s Amazon Web Services unit has been approaching banks such as Citigroup Inc., Goldman Sachs Group Inc. and J.P. Morgan Chase & Co., people familiar with the matter said."
  • JPMorgan Quietly Tests ‘Blockchain’ With 2,200 Clients - Wall St. Journal - "The nation’s largest bank has been testing the program in recent months to move U.S. dollars for about 2,200 clients between the two financial centers using a version of the “blockchain” technology that underpins bitcoin..."
  • Mastercard Is Expanding Its 'Selfie Pay' Capabilities - Fortune - "When making a purchase online from a merchant that requires identity verification, cardholders can authorize the transaction by holding up their phones as if taking a selfie and blinking..."
  • Getting Rid of Big Currency Notes Could Help Fight Crime - New York Times - "Getting rid of big bills will make it harder for criminals to do business and make it easier for law enforcement to detect illicit activity."
  • Reserve Bank says Australian dollars could come in digital form in future - Sydney Morning Herald - "In a speech where he also flagged the end of the cheque, Mr Richards said the RBA had been watching the growth in demand for privately-established virtual currencies like Bitcoin, and believed there was a place for a central-bank-issued digital currency in Australia."
  • The Ongoing Evolution of the Australian Payments System - Reserve Bank of Australia (Tony Richards) - "Today's conference is on payments innovation and I would like to speak about some ways that our payments system is evolving, both in terms of some innovative new payment instruments that are on their way and the declining use of some of our older or legacy payment instruments."
  • UK FinTech: Regulating for innovation - FCA (Christopher Woolard) - "How can regulation foster innovation in financial services? And as part of that how can we ensure that we have a regulatory environment fit for future innovation?"

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming up in early April - both in New York City - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

EVENTS

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 22, 2016

Headline News from PaymentsNews.com - February 22, 2016

ON THE WEB

  • 2016 Payment Predictions - FRB Atlanta - Take on Payments Blog - "In our 2015 year-end review, we promised we would provide some predictions and expectations for payments in the United States during 2016. Predictions are usually pretty…unpredictable, so by waiting a couple of months to release ours, we're hoping they will end up being more accurate than usual."
  • How Walmart Pay could help the mass merchant compete against Amazon - Mobile Commerce Daily - "By rolling out Walmart Pay, Walmart now has to walk a fine line of engaging mobile customers who’ve come to rely on this convenience while still catering to those less inclined to try out the new payment experience."

ON THE WIRES

  • GSMA and Mobile Operators Launch Initiative to Extend Mobile Money and Mobile Internet to Women Globally - "The GSMA today announced the launch of the Connected Women Commitment Initiative, aimed at reducing the mobile gender gap. Initial commitments by GSMA operator members, with over 75 million mobile internet and mobile money customers, will aim to connect millions more women in low- and middle-income countries by 2020."
  • PayPal Extends Mobile Leadership and Consumer Choice With New Partnerships and Product Innovations - "PayPal announced a collaboration with one of Europe’s largest mobile carriers, Vodafone, where millions of PayPal’s European customers will be able to fund payments on Android smartphones at Visa contactless terminals using the Vodafone Wallet. The service will start in Spain and expand to additional European markets later this year."
  • Visa Extends Secure Payments to the Automotive Industry - “The notion of transforming a car into a platform for payments is not as far off as some may think, and we have made a great deal of progress since first introducing the idea one year ago,” said Jim McCarthy, executive vice president of innovation and strategic partnerships, Visa Inc. “Working with Honda to test these prototypes gets us another step closer toward commercial reality, which we think provides exciting opportunities to everyone who plays a role in the payments and automotive ecosystems.”
  • Visa Checkout Launching Across Europe and India - "Since its introduction in 2014, Visa Checkout has launched in 16 countries, with usage growing to more than 11 million consumer accounts and acceptance by more than 250,000 merchants. In 2016, the service will reach a total of 22 markets around the world, including Australia, Argentina, Brazil, Canada, Chile, China, Colombia, France, Hong Kong, Ireland, India, Malaysia, Mexico, New Zealand, Peru, Poland, Singapore, Spain, South Africa, United Arab Emirates, the United Kingdom and the United States."
  • Visa Brings Secure Payments to the Internet of Things - "The first IoT companies to join the Visa Ready Program will focus on payments for wearables and automobiles. Initial Visa Ready partners include Accenture, Coin, Giesecke & Devrient, Fit Pay, and Samsung, who will work with device manufacturers including Chronos and Pebble, to help embed secure payments in consumer devices and have those devices certified as Visa Ready."
  • Coin Launches Developer Program to Enable Access to MasterCard’s Tokenization Platform and Accelerate Payments in Wearables - “Signing up for the Coin developer program gives wearables manufacturers transparent access to a turnkey solution,” said Kanishk Parashar, CEO and Co-Founder of Coin. “The program makes commerce accessible to device makers as payments on wearables become table stakes. We are confident that our miniaturized and secure payment technology, combined with MasterCard’s tokenization, will benefit our wearables partners with increased engagement of their products.”
  • American Express, Discover, MasterCard, and Visa Purchase Volume Up 7.8% in 2015 - David Robertson, publisher of The Nilson Report, said, “For the third year in a row, the percentage increase for purchase volume on Visa credit cards was better than any other credit or debit card type.”
  • Samsung Pay Continues Global Momentum in 2016 - "In 2016, Samsung Pay will start global expansion beginning with China in March, followed by Australia, Brazil, Singapore, Spain and the U.K. later in the year. Additionally, Canada will be added to the new launch roadmap."
  • Samsung Pay coming to MBNA customers in the UK - Ian O’Doherty, CEO of MBNA, said: “Our customers are looking to MBNA as the credit card experts to deliver handy new ways to pay – ways that offer them convenience, speed and safety. We’re investing in delivering our customers Samsung Pay at the earliest opportunity, showing how we’re helping make life easier for them.”
  • Wincor Nixdorf and Mahindra Comviva Partner to Enable NFC and QR Code Based Transactions at the ATM With Mobiquity® Wallet - "With advent of this new solution, consumers using mobile wallets powered by Mahindra Comviva's mobiquity® Wallet will be able to withdraw cash and top up their mobile wallets at the ATM by simply scanning or presenting a QR code or use their NFC enabled mobile device."

GLENBROOK PAYMENTS EDUCATION EVENTS

Here's a quick reminder that we have two of our Glenbrook payments education events coming up later this month - both in Palo Alto, California - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

EVENTS

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 19, 2016

Headline News from PaymentsNews.com - February 19, 2016

ON THE WEB

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Here's a quick reminder that we have two of our Glenbrook payments education events coming up later this month - both in Palo Alto, California - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

EVENTS

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 18, 2016

Headline News from PaymentsNews.com - February 18, 2016

ON THE WEB

ON THE WIRES

  • U.S. Bank Upgrades Commercial Payment Solutions - “Together, Commercial Payments Manager and Access Online support the market’s widest range of commercial card and virtual payment choices,” said U.S. Bank Corporate Payments Systems President Jeff Jones. “By offering two complementary systems, U.S. Bank has made it easier for customers of every size and sophistication to access all the options they need to support and grow their organizations.”
  • MasterCard Expands Cardholder Controls and Peace of Mind - "For 50 years, we’ve developed new technologies that balance the need for increased security with the desire for greater convenience in payments. As these benefits become everyday features, consumers will receive even more protection and value from the MasterCard in their wallet– physical or digital.”
  • Vantiv Integrated Payments Announces Security Pays 2.0 to Drive Stronger Security Adoption - "This initiative promotes education and awareness, driving the adoption of security products to add layers of protection to the payments process, such as end-to-end encryption, tokenization and EMV."
  • Lavu Collaborates with PayPal to Offer EMV Payment Processing to Restaurants, Food Trucks and Bars - "PayPal will now be available to Lavu’s extensive portfolio of restaurants, bars and food trucks that generate billions of dollars in transactions annually. Additionally, Lavu can offer restaurant and bar owners EMV payment processing that is integrated with a clear and transparent pricing structure within its POS software, with no hidden fees."
  • Five Things to Look for in Cross-Border Payments in 2016 and Beyond - "As the payment landscape continues to shift − driven by an increasingly global economy, the adoption of more digital-only channels, and increased concerns over security and transparency − Mike Massaro, CEO of Flywire (formerly Peer Transfer) weighed in on the future for global payments."
  • Bell ID to Support Android Pay - "Bell ID, the mobile payments specialist recently acquired by Rambus Cryptography Research, today announces it will support international issuing banks, payment schemes and processors to integrate with Android Pay. Bell ID customers can utilize its Token Service Provider (TSP) software to enable and secure near field communication (NFC) payments functionality on Android phones."
  • 25 Million Credit Cardholders Haven't Changed Favorite Card in 10+ Years - "The truth is that loyalty doesn't pay when it comes to credit cards," Schulz said. "It is especially true with rewards because the quickest way to rack up rewards is to sign up for a new card with a big signup bonus..."

GLENBROOK PAYMENTS EDUCATION EVENTS

Here's a quick reminder that we have two of our Glenbrook payments education events coming up later this month - both in Palo Alto, California - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

EVENTS

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 17, 2016

Headline News from PaymentsNews.com - February 17, 2016

ON THE WEB

  • The Plot to Kill the $100 Bill - Wall St. Journal - "The paper argues that eliminating high value currencies—such as the 1,000 Swiss franc ($1,013) note, the €500 note and the $100 bill—would reduce corruption and make life harder for tax evaders, terrorists, drug dealers, financial criminals and human traffickers."
  • A Message to Our Customers - Apple CEO Tim Cook - "But now the U.S. government has asked us for something we simply do not have, and something we consider too dangerous to create. They have asked us to build a backdoor to the iPhone."
  • As Marijuana Sales Grow, Start-Ups Step In for Wary Banks - New York Times - "The State of Colorado legalized marijuana for recreational use in 2014, joining several other states where the drug has been decriminalized in some form, but Visa and MasterCard will not process transactions for pot dispensaries and most banks will not open accounts for the businesses..."
  • Bye, bye, banker: New Monopoly game goes cashless with electronic payments - "Hasbro showed off a new version that eliminates both the game's signature paper money and the banker position."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Here's a quick reminder that we have two of our Glenbrook payments education events coming up later this month - both in Palo Alto, California - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

EVENTS

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 16, 2016

Headline News from PaymentsNews.com - February 16, 2016

ON THE WEB

  • Payments and the Internet of Things - PaymentsViews.com (Russ Jones) - "Does the Internet of Things need its own payment method? Probably not. I think the Internet of Things feels more like a new use case for existing payment methods than a new segment looking for its own unique payment methods."
  • The Great EMV Fake-Out: No Chip For You! - Krebs on Security - "Why are so many chip-capable checkout terminals already installed that have not been enabled to actually accept chip cards? Allen Weinberg, co-founder of Menlo Park, Calif. based management consulting firm Glenbrook Partners, examined this very question in a recent column that pointed to several factors holding retailers back from enabling dip-the-chip."
  • Fed's Kashkari Floats Breaking Up Big Banks to Avert Meltdown - Bloomberg - "He said options to consider include breaking up big banks, forcing large banks to hold so much capital they resemble “public utilities” and taxing leverage in the financial system to alleviate risks."
  • IBM's New Blockchain Bet Targets Next Wave of Financial Services - Bloomberg - "Working with Japan Exchange Group Inc., International Business Machines Corp. next month will start testing the distributed ledger technology that underpins bitcoin."
  • Is the banking industry about to have its 'Uber moment'? - Guardian - "When the standard is launched, possibly next year, customers will be free to empower any financial services provider to access their accounts so applying for mortgages and loans will not mean photocopying bank statements."
  • Why Wall Street Is Embracing the Blockchain—Its Biggest Threat - Wired - "In other words, if DTCC wants to embrace the blockchain, that’s a sure sign that Wall Street itself wants to embrace the blockchain."
  • A Billion Dollars Was Transferred Over Venmo In January - BuzzFeed - "The $1 billion in transfers is more than 2.5 times the volume seen in January 2015, and ten times as much as January 2014."
  • India: Moving a Billion People into Digital Finance - Fintech Ranking - "To help improve India’s digital future, the United States Agency for International Development (USAID) conducted a study identifying ways to ensure the success of Narendra Modi’s national mission for financial inclusion. The report, “Digital Finance – Beyond Cash”, examines the current behaviors and perceptions of digital payments in low-income communities in India and suggests ways to accelerate the adoption of digital payments."

ON THE WIRES

  • Amazon to acquire EMVANTAGE Payments - "EMVANTAGE has developed a series of payment solutions including a payment gateway, mobile payment solutions and pre-paid card solutions. The acquisition of EMVANTAGE will help Amazon accelerate the development of convenient and trust worthy payment solutions for customers and the ecommerce industry in India. As part of this acquisition, EMVANTAGE's employees will join Amazon's payments team to develop innovative payment products and solutions specifically for the Indian market."
  • ACI Worldwide to Connect to The Clearing House’s Real-Time Payment System in the U.S. - "We are excited to have ACI join those supporting our real-time payment initiative,” said Steve Ledford, senior vice president, Products and Strategy, TCH. "Many of our members and customers rely on ACI solutions and the addition of a real-time payments access capability will assist in ensuring accessibility, convenience and ubiquity to develop innovative new business models through real-time payments."
  • Cardpool Mobile Wallet Application Now Available in iTunes Store - "Cardpool users are savvy shoppers who use the service to save—from major, one-time transactions to everyday purchases," said Patrick Ramsey, general manager, Cardpool. "Now, the Cardpool app allows our users to seamlessly complete the money-saving experience by purchasing a discounted gift card that's quickly delivered to their mobile wallet for redemption using their mobile phone."
  • SafetyPay sees global growth, expanding its presence in Latin America - "The company has added new functionalities to existing products, and incorporated solutions into its portfolio such as, payment via internet banking; payment in cash; a phone sales solution; transacting payments for individuals and companies through the banking network, and batch solutions for recurring payments."

GLENBROOK PAYMENTS EDUCATION EVENTS

Here's a quick reminder that we have two of our Glenbrook payments education events coming up later this month - both in Palo Alto, California - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

EVENTS

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 15, 2016

Headline News from PaymentsNews.com - February 15, 2016

ON THE WEB

  • Atlanta's ‘Transaction Alley’: US Payment Processing Capital - WABE.org - "Every time you swipe, tap or insert your card and even pay with your phone, there's a good chance the transaction will be processed here in Georgia. That's because nearly 70 percent of all payment card transactions are processed here, and more than half of U.S. financial technology firms are based in the Atlanta area."
  • Mobile wallets beware, UPI is here - YourStory - "The demise of mobile wallets in India would be quite a shocker. What will happen to all the seamless payments to your taxi vendors and favourite sumptuous food deliveries? The National Payment Corporation of India (NCPI), a primary body governing all retail payment systems in the country, may have some good news for you."
  • A story about using Apple Pay - Medium (Nate Swanner) - "The takeaway for those dozen or so people waiting for a seat at the sushi place was that Apple Pay is quick and easy, and at least leaps and bounds better than chip cards."
  • UnionPay transactions surge in Spring Festival spree - "China UnionPay transactions soared to yet another record high in the Spring Festival, the operator revealed Sunday."
  • Turkey's Iyzico Beats PayPal to Unlock Iran's E-Commerce System - Bloomberg - "An Istanbul-based payments startup says it’s signed a deal that smooths the way for companies seeking to follow it into Iran’s $400 billion economy."
  • Australian Regulator: Banks Didn't Collude Over Bitcoin Account Closures - CoinDesk - "The Australian Competition and Consumer Commission (ACCC) has concluded that Australian banks did not collude in blocking services for bitcoin firms and that a full investigation into the affair is not necessary."

ON THE WIRES

  • It's a holiday here in the U.S. today.

GLENBROOK PAYMENTS EDUCATION EVENTS

Here's a quick reminder that we have two of our Glenbrook payments education events coming up later this month - both in Palo Alto, California - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

EVENTS

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 12, 2016

Headline News from PaymentsNews.com - February 12, 2016

ON THE WEB

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Here's a quick reminder that we have two of our Glenbrook payments education events coming up later this month - both in Palo Alto, California - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

EVENTS

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 11, 2016

Headline News from PaymentsNews.com - February 11, 2016

ON THE WEB

  • PayPal Commerce: The Next Revolution in Contextual Commerce - PayPal Blog - "PayPal Commerce provides the foundation for merchants and partners to create a wide variety of contextual commerce experiences. It supplies core API building blocks used in the development of customer-facing applications to reach and engage consumers beyond just their online storefronts."
  • Mobile Payments Startup Payleven Raises Another $10M - TechCrunch - "Unlike Square, Payleven has from the start tried to build itself out as an international business, and currently, it’s live in 11 markets in Europe as well as Brazil."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Here's a quick reminder that we have two of our Glenbrook payments education events coming up later this month - both in Palo Alto, California - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

EVENTS

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 10, 2016

Headline News from PaymentsNews.com - February 10, 2016

GLENBROOK PAYMENTS EDUCATION EVENTS

Here's a quick reminder that we have two of our Glenbrook payments education events coming up later this month - both in Palo Alto, California - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

ON THE WEB

ON THE WIRES

  • Banc of California Teams with MasterCard for Debit Card Program - "We congratulate Banc of California on becoming a MasterCard issuer," said John Ainsworth, executive vice president of North America, MasterCard. "We are proud that Banc of California has selected MasterCard as their debit card network and we look forward to working with them as they grow their payment solutions business."
  • L.L.Bean Visa Card rewards lucky cardmember with $100,000 in Get Outdoors $100,000 Giveaway - "Our credit card program with L.L.Bean is all about rewarding cardmembers for their loyalty to one of the most iconic brands in the country," said Denny Nealon, head of partnerships at Barclaycard US. "The giveaway was simple and fun for our cardmembers and an example of just one of the exclusive benefits they enjoy when using their card at L.L.Bean and for everyday purchases."
  • First Data Reports Fourth Quarter 2015 Financial Results - "During a quarter that saw First Data return to public ownership, we were pleased to post continued revenue growth, solid margin expansion, and the refinancing of all our high cost debt earlier than planned,” said Frank Bisignano, First Data Chairman and CEO.

EVENTS

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 09, 2016

Headline News from PaymentsNews.com - February 9, 2016

GLENBROOK PAYMENTS EDUCATION EVENTS

Here's a quick reminder that we have two of our Glenbrook payments education events coming up later this month - both in Palo Alto, California - we hope to see you there!

ON THE WEB

ON THE WIRES

  • Silicon Valley Bank and MasterCard Announce the Latest Class of Commerce.Innovated. Accelerator - "We're excited to work with the next class of Commerce.Innovated.," said Reetika Grewal, head of Silicon Valley Bank's payments strategy. "The commerce and fintech sectors continue to gain momentum as startups work to balance innovation and their regulatory requirements. We love working side by side with these incredible entrepreneurs and lending our knowledge and networks to help them develop the infrastructure and operations that they need to accelerate their growth."
  • Align Commerce Announces Establishment of Payment Rail to China - "In celebration of the Chinese Lunar New Year and to mark the opening of this payments corridor, Align Commerce will ring in the Year of the Monkey with an $8 USD flat fee, including foreign exchange fees, for all export-import payments to China from the United States (U.S.) for eight days."
  • 61% of Merchants Still Store Unencrypted Payment Card Data - "The trend is encouraging in general, but there is still a long way to go," said Bill Davis, Director of Product Management at SecurityMetrics. "It surprises me that track data continues to be a problem. That's the Holy Grail for hackers."

EVENTS

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 08, 2016

Headline News from PaymentsNews.com - February 8, 2016

ON THE WEB

ON THE WIRES

EVENTS

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, 2016

Headline News from PaymentsNews.com - February 5, 201

ON THE WEB

ON THE WIRES

  • WeChat Hands Out Lucky Money on New York's Times Square Billboards During Chinese New Year - "At certain times, pedestrians passing through the square will have an opportunity to "earn" some Lucky Money by shaking their handsets as long as they have their Bluetooth and their WeChat "shake" functions turned on. The money will go to the receivers' digital account in WeChat Wallet. Users can either withdraw or spend through WeChat Payment, a digital payment service provided by WeChat."

EVENTS

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, 2016

Headline News from PaymentsNews.com - February 4, 2016

ON THE WEB

  • A Way to Lock Lost Debit Cards, From a Big Bank - New York Times - "Once the card is locked, it cannot be used to make purchases or withdraw money from automatic teller machines until the user unlocks it."
  • Blockstream Welcomes New Investors - Adds $55 Million in Series A - Blockstream Blog - As our investor and board member Reid Hoffman wrote back in 2014, before many execs first wrote "blockchain" on their whiteboards, "Bitcoin is a transformative addition to Internet communication protocols that will create new networks of trust, fuel massive economic ecosystems, and create enduring long-term value."

ON THE WIRES

  • Visa Opens its Global Network with Launch of Visa Developer - “We are unbundling Visa’s full suite of products and services and giving developers open access to the underlying payment capabilities,” said Rajat Taneja, executive vice president of technology, Visa Inc. “We believe this will lead to the creation of entirely new commerce experiences with Visa technology integrated to enable greater security, scale and convenience when it comes time to pay. When you add the ability to distribute those new experiences across Visa’s global network, you can see why Visa Developer will become the preferred playground for developers everywhere.”
  • PayPal Reveals Vision for the Future of Money - “We are in a period of transformation – how people shop; how merchants sell; how people interact with the financial system; the very nature of money itself is changing,” said Dan Schulman, President and CEO of PayPal. “New Money is a celebration about the ways technology can help expand and improve financial participation and financial health for billions of people worldwide. We want to reimagine money -- enabling new ways for people to securely and affordably manage, move and spend their money.”
  • U.S. Bank is First to Offer MasterCard® Business Network for Small Business Owners - "U.S. Bank (NYSE: USB) is the first bank in the nation to offer its small business customers access to MasterCard’s Business Network in a fully customized, consolidated website that provides offers, advice and tools designed to help small businesses run efficiently and effectively."
  • Fifth Third Bank Launches Express Banking to Serve the Unbanked and Underbanked - "Fifth Third created Express Banking for people who typically don't have bank accounts, but who use banks and non-bank alternatives such as check cashing centers to cash checks, make payments and get cashier's checks. Express Banking provides a way for people to manage their money with no monthly service charge or balance requirement. The service does not allow overdrafts, which protects customers from spending money they don’t have."
  • Western Union and Viber to Provide Cross-Border Money Transfer Capabilities - “Our users are already using Viber to stay in touch with friends and families worldwide, so the ability to send money to loved ones through the app is a natural next step,” said Michael Shmilov, Chief Operating Officer, Viber. “Viber’s alliance with Western Union is our first step into this direction and it gives our users a new way to quickly and conveniently send money to friends and family.”
  • Fifth Third Bank Introduces Touch ID for its Mobile Banking App - “Our customers’ digital expectations continue to evolve – and many of those expectations are being set by using non-bank apps such as shopping and games," said Chad Borton, executive vice president and head of the Consumer Bank for Fifth Third Bank. "Fifth Third is continuing to evolve its digital experiences to do the same, creating fast and simple banking.”
  • Fit Pay Completes $3.1M Seed Funding Round - "We are pleased to support Fit Pay's vision for transforming wearables," explains Scott Marquardt, president, Giesecke & Devrient America, Inc. "The Fit Pay platform, in combination with G&D's capabilities in embedded secure operating systems, applications and credentials lifecycle management, brings a complete end-to-end portfolio to Fit Pay's prospective wearable device partners."

EVENTS

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, 2016

Headline News from PaymentsNews.com - February 3, 2016

ON THE WEB

ON THE WIRES

EVENTS

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, 2016

Headline News from PaymentsNews.com - February 2, 2016

ON THE WEB

  • A Year of Progress: Celebrating the Anniversary of Strategies for Improving the U.S Payment System - Faster Payments Blog - "Read our February 2016 Progress Report and hear more about the Federal Reserve’s vision for the future U.S. payment system in video interviews with Esther George, President and CEO of the Federal Reserve Bank of Kansas City and executive sponsor of the payments improvement initiative, and Jerome Powell, Federal Reserve Board Governor and co-chair of the initiative’s oversight committee."
  • Cutting Off Those Recurring Charges You Forgot About - New York Times - "Once Trim performs its analysis, you get a text message with a list of all your recurring charges. You reply with “Cancel X,” and then the company takes it from there, making the request on your behalf to the service provider."
  • CIO Explainer: What Is Blockchain? - Wall St. Journal - "Blockchain remains in the experimental phase inside many large firms and there are few tested use cases, experts and analysts caution. Here’s a look at how this emerging technology works..."
  • Blythe Masters and JPMorgan trial blockchain project - FT.com - "JPMorgan appears to be taking a lead in encouraging broader, industry-wide adoption of blockchain technology..."
  • Bank Tellers, With Access to Accounts, Pose a Rising Security Risk - New York Times - "Though much of the focus on bank fraud has been on sophisticated hackers, it is the more prosaic figure of the teller behind the window who should worry depositors, according to prosecutors, government officials and security experts."

ON THE WIRES

  • MasterCard Adds to Global Public Policy Team - "MasterCard today announced the appointment of Alexander N.M. Niejelow as a senior vice president of public policy, effective February 8, 2016."
  • BlueSnap Measures Checkout Abandonment To Help Retailers Avoid Lost eCommerce Sales - “People buy from Amazon because they have a simple, one-click checkout process. Every retailer needs to provide that same experience or risk losing out. That’s the inspiration behind the Checkout Conversion Calculator – to help merchants discover and zero in on the things they must do to maximize their checkout, payments and sales conversions,” says Ralph Dangelmaier, CEO of BlueSnap.

EVENTS

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 01, 2016

Headline News from PaymentsNews.com - February 1, 2016

ON THE WEB

ON THE WIRES

  • ExxonMobil Smart Cardholders Now Save 6 Cents Off Every Gallon, Every Day - "Starting today, every time drivers fill up using their ExxonMobil Smart Card, they will enjoy a savings of six cents for each gallon of fuel they buy at an Exxon- or Mobil-branded retail station with no minimum purchase and no maximum savings cap – one of the most rewarding offers on a branded fuel credit card."
  • Global Payments Platform Launches New E-Wallet Solution for the Gaming Industry - “Although all gaming sites generally have a means of moving money throughout their site, often the experience is clunky and inefficient for the user, and causes high fees for the provider due to the need to use multiple payment vendors,” said Gay Hamilton, Chief Operations Officer at MiFinity Payments. “MiFinity is the only company to offer a wallet solution specifically for the gaming industry. With MiFinity’s E-Wallet, there is only one source of service, enabling gaming operators to offer a seamless and flexible experience to their end users, while streamlining their own costs and processes.”
  • Is a Higher Credit Score the Secret to Happiness in 2016?“The tension Americans are feeling with their credit scores is actually very healthy because this singular metric can impact their ability to achieve and afford big financial goals. Your credit score impacts whether you can purchase a home or car, obtain a loan to go to school or start a business and qualify for better interest rates,” says personal finance expert and Chase Slate financial education partner Farnoosh Torabi.

EVENTS

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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