Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!
ON THE WEB
- Expanded Frontiers in Mobile Payment
- Glenbrook’s Payments Views (Elizabeth McQuerry) - "One of the payments obsessions here at Glenbrook is understanding the ways in which mobile payment and digital financial services are taking hold around the world. Once effectively limited to the early success of M-PESA and P2P payment in Kenya, today there are a number of services underway. M-PESA itself, in around a decade, has evolved to offer bill payment, savings options, small loans and is also working on merchant payments. "
- New Cards Chip Away at Payment Companies
- Wall Street Journal - "VeriFone said it hasn’t seen any significant change in its market share. But investors could be worried about new, cheaper alternatives luring in small merchants. In emerging markets, competition comes from low-cost providers like China-based PAX Global Technology. In the U.S., Square offers a chip reader that connects to a mobile device and costs just $49, a fraction of the price of an Ingenico or VeriFone terminal."
- Ingenico Falls After Cutting 2016 Sales, Margin Forecasts
- Bloomberg - "Ingenico’s announcement adds to evidence that the shift in the U.S. to payment cards with chips is problematic for the industry. Verifone Systems Inc. on Thursday cut its sales and profit forecasts, citing weakening demand in the U.S. Large merchants there have already shifted to payment terminals that accept credit and debit cards with chips, while smaller merchants are delaying adoption. In Brazil, the economy has shrunk for six straight quarters, damping retail activity and thus hurting payments companies.
- PayPal Strikes Deal with MasterCard to Allow Payments in Stores
- Wall Street Journal - "The company has said the network deals, which will see PayPal place debit and credit cards on par with other ways to pay, make PayPal a “ubiquitous” payment tool. It argues that volume growth would outpace declines in revenue per transaction, and that merchants would want to pay for PayPal because it works seamlessly for every customer. The deals would also help its relatively newer services, such as Braintree, which processes payments for big merchants, and Venmo, a social peer-to-peer payments app popular with millennials."
- Mobile is heaviest used banking channel as transactions multiply: report
- Mobile Commerce Daily - "The survey found that 40 percent of consumers report having using mobile banking within the past 30 days, a number that jumps to 77 percent of early millennials. Of this 40 percent, 51 percent said they use the service more now than a year ago. Among users of mobile bill pay, 47 percent use it more now than a year ago."
- Brits still not 100% sure about security of mobile payments
- Contactless Intelligence - "“Part of the reason for the rapid increase in the use of contactless cards is the simple fact that they are now much more widely accepted. They’ve moved beyond coffee shops and sandwich bars and are now entirely commonplace. However, the real shift in behaviour has only come over the last few years. It’s easy to forget that contactless cards were first launched back in 2007, meaning that the technology has been on British high streets for almost a decade. People’s payment habits change slowly, as can be seen with the cheque’s stubborn refusal to disappear from the payments landscape,” said Rich Shepherd, Financial Services Analyst at Mintel."
ON THE WIRES
- PayPal and Mastercard Expand Partnership to Benefit Consumers, Merchants and Financial Institutions
- "Under the expanded partnership, consumers and small businesses will be able to instantly cash out funds held in their PayPal accounts to a Mastercard debit card. PayPal will also be provided certain financial volume incentives and, as a result of the commitments made under this agreement, will no longer be subject to the digital wallet operator fee."
- PayPal’s Braintree to Offer Visa Checkout – Expanding Choice for Merchants and Consumers
- "Braintree, a PayPal company that powers payments for companies like Airbnb, Eventbrite, Pinterest and Uber, offers simple solutions that enable merchants to accept a variety of payment options online, in app and in-stores, and soon Visa Checkout will be available as one of Braintree’s payment options. The online payment service allows Visa cardholders to pay on any connected device, in just a few clicks, using their Visa account. Visa Checkout is already part of the shopping experience at many leading online retailers including Starbucks, Walgreens and Best Buy."
- Over 80% of Merchants in the US Accept UnionPay Credit Cards
- "It is learnt on September 1 that almost all the ATMs in the US accept UnionPay cards for cash withdrawal and over 80% of the local merchants accept UnionPay credit cards. In tourists' favorite destinations like New York, Hawaii, San Francisco, Los Angeles, Orlando and Chicago, UnionPay's acceptance coverage in well-known shopping centers and Outlets has exceeded 90%. With one UnionPay debit card and one UnionPay credit card (card numbers both start with 62), cardholders can pay with ease and benefits in the US."
- Basic Wearables Soar and Smart Wearables Stall as Worldwide Wearables Market Climbs 26.1% in the Second Quarter, According to IDC
- "While the overall wearables market grew during 2Q16, its two categories traveled at different speeds and directions. Basic wearables (devices that do not support third party applications) grew 48.8% from 2Q15 levels while smart wearables (devices that support third party applications) declined 27.2% year over year."
- Revel Systems Announces Partnership with Punchh
- "Revel Systems, the world's leading iPad Point of Sale management solution for brick-and-mortar retail, food businesses and more, today announced they are partnering with Punchh, the premier provider of Mobile Engagement, CRM and Marketing Automation technologies for enterprise restaurant chains."
- WEX Enters into Agreement with Ypsilon.Net AG
- "WEX Inc. (NYSE: WEX), a leading provider of corporate payment solutions, has today announced that they have entered into an international agreement with Ypsilon.Net AG, a global provider of internet travel technology and payment solutions for airlines, consolidators, travel portals and travel agencies. With the agreement in place, WEX is expanding its presence within the travel payment space in Germany."
GLENBROOK PAYMENTS EDUCATION EVENTS
Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. 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: firstname.lastname@example.org!