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October 31, 2016

Headline News from PaymentsNews.com - October 31, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • “I know Scott!" - Payments Views (Carol Coye Benson) - "Our co-founder, partner and friend, Scott Loftesness, is formally retiring from Glenbrook today. I can’t begin to say how much I will miss him – as a colleague, as a mentor, and as an endless source of ideas and insights. "
  • U.K. Startup Powa’s Failure Sparks Cross-Atlantic Spat - Wall Street Journal - "Now the fight over what went wrong at that smartphone-payment business, Powa Technologies, is turning public, providing a window into the sometimes-fraught relationship between entrepreneurs and investors when things sour."
  • Kohl’s Pay Update – Our Customers Love It! - Kohl’s blog - "It’s been just a few weeks since Kohl’s launched Kohl’s Pay, a mobile payment offering exclusively for our Kohl’s charge customers, and customer feedback has been extremely positive," said Ratnakar Lavu, Kohl’s chief technology officer. "
  • Algorithm Red Flags Potentially Dangerous Domain Names at Time of Purchase - WSJ CIO Journal - "Invented by five researchers at Princeton University and the University of California, the code works by scanning for 22 “features,” or red flags that are consistent with suspicious behavior. They include names that are registered in bulk by the hundreds, names that are variations of the same name, random-looking names, and names with numerical characters. "
  • This Anti-Fraud ATM System Won't Let You Use Your Phone - Bloomberg - "Elderly Japanese have been the target of so-called “it’s me” telephone call scams for years. Criminal groups call pretending to be a relative in need of funds or a medical professional or tax official demanding payment. The victims are often unfamiliar with how to use the ATM fund transfers, so criminals guide them through the transaction over the phone."
  • Goldman Says UnionPay Curbs Won’t Tame ‘Stealth’ China Outflows - Bloomberg - "Bloomberg News reported that credit and debit cards to buy insurance products in Hong Kong will be suspended other than for accident and medical coverage -- later confirmed by UnionPay. Chinese residents have been buying the insurance to skirt controls on how much capital they can move abroad, in some cases using multiple swiping of credit cards as a way of moving money overseas through the purchase of insurance policies."
  • Facebook Mobile Ad Revenues to Near $30 Billion Next Year - eMarketer - "Facebook is clearly getting closer to monetizing Messenger and WhatsApp,” said Williamson. “In August it made changes to WhatsApp’s privacy policy in preparation for allowing consumers to communicate more easily with businesses. And Messenger in September added buy buttons and native payments to the app."
  • America Isn’t Ready for a Cyberattack - Wall Street Journal - "The recent cyberattack that rendered more than 1,200 websites unreachable was a warning. Experts say a similar, or larger, attack could be launched tomorrow, and we’d be powerless to prevent it."

ON THE WIRES

  • System Innovators and ACCEO Solutions Inc. Release Semi-Integrated EMV Credit Card Payment Processing Solution for Government Agencies - "System Innovators (SI), a leading provider of centralized cashiering and enterprise revenue management (ERM), and ACCEO Solutions, a leader in payment solutions, have partnered to offer government clients an EMV-certified, semi-integrated point-of-sale (POS) middleware solution with end-to-end encryption (E2EE)."
  • WEX® and MyFlightSolutions™ Launch My Copilot™, an All-in-One Virtual Card Payment Solution - "Enabling operators to quickly and automatically reconcile a pilot’s trip expenses is groundbreaking for aviation businesses,” explained Jim Pratt, SVP, general manager, WEX Virtual Payments. Another benefit of My Copilot™ is the ability to automate the receipt tracking process so that users no longer need to manually keep track of unwieldy copies of receipts for approved expenses. “Simply put, this app means that pilots will ‘free up’ their wallets, which are usually chock-full of fuel credit cards,” notes Pratt. “Plus, aircraft operators no longer need to worry about losing track of cumbersome paper releases in order to buy fuel."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. 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

  • Scott Loftiness, a Glenbrook founding partner, formally retired October 31. Read Carol Coye Benson's Payments Views post about our co-founder's impact on the industry and on Glenbrook.
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Among other positions, we're looking for an East Coast engagement manger. Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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!

October 28, 2016

Headline News from PaymentsNews.com - October 28, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Mobile influences retailers’ shift to loyalty programs, forgetting traditional coupons - Mobile Commerce Daily - "After years of being a coupon-cutter’s dream, Bed, Bath & Beyond announced earlier this month that it would drop coupons in favor of a subscription loyalty-based system called Beyond+, which gives a permanent 20 percent discount."
  • YES Bank integrates ToneTag tech for sound-based payments - Finextra - "ToneTag utilises the in-built mic or speaker of any device to enable data transfer through soundwaves at merchant terminals which have integrated the technology. The SDK contains features such as patented noise filters, three levels of encryption, tokenisation, white box cryptography and multifactor authentication."
  • 3 ways retailers plan to protect customer data - Retail Customer Experience - "Interested in knowing how your data is being protected? Here are three ways retailers plan to protect customer data through 2017."
  • Dunkin’ Donuts To Enable Gifting Through Messages In IOS 10 - Point of Sale News - "Today Dunkin' Donuts becomes the first national coffee chain to enable gifting and payment within Messages in iOS 10. Dunkin' Donuts fans can now access the Dunkin' Mobile App through the App Store for iMessage to deliver mobile Dunkin' Donuts Cards to friends, family and colleagues as quickly and simply as sending an emoji."
  • IoT Device Maker Vows Product Recall, Legal Action Against Western Accusers - Krebs on Security - "A Chinese electronics firm pegged by experts as responsible for making many of the components leveraged in last week’s massive attack that disrupted Twitter and dozens of popular Web sites has vowed to recall some of its vulnerable products, even as it threatened legal action against this publication and others for allegedly tarnishing the company’s brand."
  • EU Issues Data-Protection Warning to WhatsApp, Yahoo - Wall Street Journal - "A European Union body representing national data-protection authorities from the bloc’s 28 states said it sent WhatsApp a letter expressing “serious concerns” about the messaging service’s new terms that allow it to share user information including phone numbers with its parent, Facebook. The regulators urged the company to pause the data sharing until “legal protections” could be assured."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. 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: gotnews@paymentsnews.com!

October 27, 2016

Headline News from PaymentsNews.com - October 27, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Money20/20 Wrap-up - Glenbrook’s Payments Views (George Peabody) - "We’ve seen a lot of innovation in payment initiation over the last few years. Apple Pay, Android Pay, Walmart Pay and their like have filled Payments News headline stories. But this year, at Money20/20, consumer-facing innovation downshifted to a lower gear. And that’s a good thing."
  • More Pain at the Pump, But This Time for Gas-Station Operators - Bloomberg - "For gas stations, one demotivating factor is cost: About a third of the 750,000 pump dispensers are too old and would need to be replaced to accept chip cards, according to Gray Taylor, executive director of Conexxus, which looks at technology standards for the global convenience and petroleum retail market. The average price for a replacement unit: $17,000. And that’s on top of what a station might spend on new hardware and software for EMV point of sale. In all, gas stations and convenience stores would have to shell out more than $7 billion to replace or upgrade their machines to accept chip-cards, he said."
  • Wal-Mart, Target Invest in Store Pickup for Holidays - Wall Street Journal - "This holiday season one way traditional retailers hope to wrestle sales from Amazon.com Inc. is by making it easier for shoppers to buy items online and pick them up in stores. Retailers including Wal-Mart Stores Inc. and Target Corp. are investing heavily to smooth pain points that have kept store pickup in the shadows of home delivery, Amazon’s sweet spot."
  • Etsy adds Adyen as a new payment processor in wake of Worldpay outage - Tech Crunch - "And they say wild west justice is no more. Etsy, the online marketplace for handmade goods, has just reached a deal with Adyen, a global payments processor, to help run its payments backend for the over 1.7 million sellers on the site."
  • Mastercard unveils chatbot platform for merchants and banks along with wearable payments - Mobile Commerce Daily - "Mastercard is bringing Mastercard KAI to both merchants and banks Mastercard is taking two big steps forward when it comes to mobile integration thanks to a new chatbot system and a partnership that brings payments to wearable devices, signaling that the credit card company is committed to making multichannel retail more mobile."
  • HOW NORTH AMERICAN CONSUMERS RATE THEIR BANKING AND PAYMENT APPS - ARC from Applause - "The perfect attendance rating is an important milestone. Mobile is changing the way consumers bank. Fiserv’s recent survey of more than 3,000 U.S. adults ages 18 and older reveal that 40% use mobile banking today, and among millennials that number increases to more than 75%. In other words, mobile is the future of banking."
  • Investors Are Going Wild for a Digital Currency Called Zcash (And It's Not Even Out Yet) - Coindesk - "Unlike most digital currencies (which are clones of bitcoin or assets on the ethereum protocol) Zcash uses a wholly new protocol called Zerocash, which offers both anonymous digital coins called zerocoins and non-anonymous coins referred to as basecoins. Zerocash permits anonymous transactions by harnessing a kind of zero-knowledge proof called a zk-SNARK, which allows two parties to provide each other with verified information without revealing their identities in the process. This technology permits the creation of a secure blockchain that hides the sender, recipient and value of all transactions. Further, the information surrounding these transactions is only available to those holding a view key."
  • Now may be the time to dust off your credit cards - Boston Globe - "So far this year, banks have issued new credit cards at a rate unseen since before the 2008 financial crisis, which triggered an avalanche of bad debt. Revolving debt, primarily credit cards, has been climbing, nearing $975 billion in August, with analysts expecting it to reach a pre-crisis peak of more than $1 trillion by early next year."
  • CYBERSECURITY, UNSCRUPULOUS DINERS, AND INTERNET STEWARDSHIP - Stanford Law School blog - "To mitigate this existential risk of "cybersecurity free riders" to the continued health and growth of the Internet, I believe it is necessary to develop a theory of Internet Stewardship—a distributed, decentralized, cooperative model that incorporates a shared duty to establish, maintain, and follow basic cybersecurity standards. "

ON THE WIRES

  • FICO Enterprise Security Score Gives Long-Term View of Cyber Risk Exposure - "Analytic software firm FICO today launched the FICO® Enterprise Security Score, a metric that reveals the likelihood an organization will be breached due to a cyber attack. This score can be used by an enterprise to understand and shore up its defense gaps, and by third parties such as cyber insurance providers, potential partners and customers who need an objective measure of a firm's cyber risk."
  • Qualcomm to Acquire NXP - "Qualcomm Incorporated (NASDAQ: QCOM) and NXP Semiconductors N.V. (NASDAQ: NXPI) today announced a definitive agreement, unanimously approved by the boards of directors of both companies, under which Qualcomm will acquire NXP. Pursuant to the agreement, a subsidiary of Qualcomm will commence a tender offer to acquire all of the issued and outstanding common shares of NXP for $110.00 per share in cash, representing a total enterprise value of approximately $47 billion. "
  • Viewpost Electronic Invoicing and Payments Survey: The Gut Response to ‘the Check’s in the Mail’ - "The survey, fielded to nearly 3,000 U.S.-based businesses from September 29 to October 7, 2016, discovered electronic payments is the preferred method of payment by a majority of professionals (51.6 percent) and is close to replacing paper checks as the number one method of payment (paper at 37 percent versus electronic at 35 percent) for businesses—highlighting a migration that is helping to solve age-old problems with using antiquated payment solutions."
  • WEX Inc. and ExxonMobil Extend North American Fleet Card Contract for 10 More Years - "WEX Inc. (NYSE: WEX), a global provider of industry-leading corporate payments solutions, today announced a ten-year extension of its North American fleet card contract with Exxon Mobil Corporation (NYSE: XOM) and Imperial Oil, whose managing partner is Imperial Oil Limited (NYSE: IMO)."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. 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: gotnews@paymentsnews.com!

October 26, 2016

Headline News from PaymentsNews.com - October 26, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Facebook isn’t making money when you shop on Facebook — yet - Recode - "Facebook has tried a bunch of different ways to get people to shop on the site, but it’s never been Facebook’s strength. That hasn’t stopped the social giant from trying, though. Remember Facebook gifts? Or the company’s plan to push into buy buttons? Now Facebook has another new plan: Marketplace, a Craigslist-style product that lets people buy things from, or sell things to, other Facebook users."
  • Allstate’s faster mobile payment option capitalizes on mobile financial services’ popularity - Mobile Commerce Daily - "Allstate is revamping its digital payment method with QuickCard Pay, which takes over for its Fast Mobile e-Payment as its new focus for quick, mobile-ready payment options using the Mastercard Send system to help users pay their bills and receive payments on claims on any device."

ON THE WIRES

  • With U.S. Bank APConnector™, More Businesses Can Say "Yes!" to Virtual Pay - "By acting as a translator between the bank’s payment systems and an organization’s ERP software, APConnector makes the path to payment automation seamless and cost effective. It allows organizations to send payments electronically using secure virtual card accounts that provide enhanced remittance data as well as improved reconciliation. Paying corporate invoices electronically no longer requires a major commitment of information technology (IT) resources. Set-up time for launching a virtual card solution shrinks to as little as a few weeks, versus up to three months in a conventional set up."
  • Giesecke & Devrient Teams with Rittenhouse Payment Solutions for Event-based Wearable Solutions - "Extending its active participation in contactless-payment-enabled wearables, G&D is bringing a new wearable solution to the market with Rittenhouse Payment Solutions, a leader in the prepaid payments space who offers cutting-edge program solutions. The prepaid smart wristband can be used for payment and access in a variety of everyday environments."
  • First Data, Alipay Partner to Bring Popular Chinese Mobile Payment Option to U.S. - "First Data (NYSE: FDC), a global leader in commerce-enabling technology, today announced a new partnership with Alipay, one of the world’s leading online payment platforms, to bring the Alipay mobile payment solution to United States merchants. Beginning in November, Alipay will be available to Chinese consumers shopping at select retail locations in California and New York. Participating retailers at those locations will use First Data’s Clover Mini point-of-sale solution to accept Alipay."
  • Samsung Pay to Add Three New Countries, Online and in-App Payments, Location-Based Deals and More - "Samsung Electronics Co. Ltd. today announced Samsung Pay will add three new countries to the roadmap including Malaysia, Russia and Thailand, which will bring the convenience of the service to 10 countries by the end of 2016. Samsung Pay also announced a global partnership with Mastercard to offer a simplified online payment and express checkout solution through its digital payment service Masterpass, starting early next year. Hundreds of thousands of merchants in 33 countries currently accept Masterpass for online payments."

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. 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: gotnews@paymentsnews.com!

October 25, 2016

Headline News from PaymentsNews.com - October 25, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Big U.S. Retail Bank Operations Under Scrutiny After Wells Scandal - Wall Street Journal - "The Office of the Comptroller of the Currency earlier this month sent formal letters to large and regional banks seeking information about sales practices and incentive-compensation structures following the Wells Fargo & Co. scandal, people familiar with the requests said."
  • Banks Challenge Venmo With New Payments Network Dubbed Zelle - Bloomberg - "Nineteen U.S. financial firms -- including titans such as JPMorgan Chase & Co., Bank of America Corp. and Wells Fargo & Co. as well as regional lenders and credit unions -- have signed up for a new real-time payments network dubbed Zelle. The venture, replacing an existing system called clearXchange next year, will be accessible to more than 76 million mobile banking customers when it starts, according to a statement Sunday from Early Warning, the bank-owned entity handling the project."
  • Visa's Blockchain Bet Opens Up to Developers - Fortune - "Anyone can now build on top of Chain’s network. Banks and financial firms have been tinkering for the past few years with the code that powers cryptocurrencies such as Bitcoin, with the intention of potentially overhauling their moldering infrastructure. Now they’re preparing to release their code into the wild. Chain, a two-year-old startup based in San Francisco, has decided to make its platform available to the public. The company is releasing an open source version of its Chain Core software to developers, any of who as of Monday can find the source code for its proprietary blockchain, or distributed ledger, on its webpage on Github, a code-sharing website."
  • A Plug-in From Synchrony Brings Store Cards to Retailers’ Shopping Apps - Digital Transactions News - "With consumers spending more and more time on retailers’ shopping apps, it was only a matter of time before merchants with proprietary charge card programs began offering a digitized version of those cards within their apps. On Monday, that time arrived as store card processor Synchrony Financial announced its Synchrony Plug-in, which allows client retailers to offer a digital version of the private-label plastic Synchrony issues on their behalf."
  • India’s largest data breach involving debit cards went undetected for 3 months - Mint - "Card data of 3.2 million customers was stolen between 25 May and 10 July from a network of Yes Bank Ltd ATMs managed by Hitachi Payment Services Pvt. Ltd, but it was only in September that banks and payments services providers became aware of the extent of the breach."

ON THE WIRES

  • Visa Opens Tokenization Services to Third Party Partners - "Today Visa (NYSE:V), announced it is accelerating the adoption of secure, digital payments by allowing third party partners to offer Visa Token Service (VTS). By expanding access to VTS to new partners – including technology companies, device manufacturers, issuers, Internet-of-Things (IoT) companies, wallet providers, merchants and others – Visa will be able to more quickly and easily offer secure digital payment services on any device to the market. Giesecke and Devrient, Gemalto and Inside Secure are the initial partners participating in Visa’s token service provider program to offer new expanded access to VTS."
  • Mastercard Partners with Fit Pay to Accelerate the Development of Payments-Enabled Devices and Wearables - "Mastercard today announced a partnership with Fit Pay, Inc. to bring Mastercard contactless payments to consumer wearables and Internet of Things (IoT) devices. By integrating the Fit Pay platform with the MasterCard Digital Enablement Service (MDES), the companies will work with Wearatec and other innovative manufacturers to bring to Mastercard cardholders a variety of secure contactless payments-enabled devices."
  • Mastercard Makes Commerce More Conversational with Launch of Chatbots for Banks and Merchants - "Today at Money 20/20, Mastercard announced its plans to launch artificial intelligence (AI) bots that allow consumers to transact, manage finances, and shop via messaging platforms."
  • BitPay Launches Secure Bitcoin Payments App, Targets New Bitcoin Adoption - "The BitPay app brings together BitPay's experience in merchant payments and BitPay's tools for consumer bitcoin payments into one place, opening up new possibilities for bitcoin adoption and use."

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. 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: gotnews@paymentsnews.com!

October 24, 2016

Headline News from PaymentsNews.com - October 24, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Zelle p2p payments push to compete with Venmo now has 19 US FI backers - Tech Crunch - "The US finance industry is slowly getting its ducks in order to try to compete with the likes of PayPal-owned social payments platform Venmo. Today bank network operator Early Warning announced it has 19 US financial institutions signed up to a forthcoming payments network called Zelle, due to launch in early 2017. "
  • PayPal Gets Friendlier With Facebook - Wall Street Journal - "An integration with Facebook Inc., announced early Monday in a blog post by PayPal, will have the social network make the payments giant a way to pay across a broader range of new online shopping features. PayPal will also now make it possible to receive messages about any purchase, like a receipt, through Facebook’s Messenger chat service."
  • Android Pay partners with Visa and Mastercard to bring simple checkout to more places online - Google blog - "Android Pay users will soon be able to pay on hundreds of thousands of new sites where Visa Checkout or Masterpass are accepted using their preferred device authentication method - like fingerprint recognition. No longer will users have to remember multiple usernames and passwords in order to checkout, saving them time and hassle."
  • The restaurant table(t) is getting crowded - Tech Crunch - "Square deserves much credit for leading the way to software-based POS systems; however, Square initially was more about electronifying cash for micro merchants than a new central nervous system. Other companies like Toast, Revel, ShopKeep and Clover get more credit for focusing on the restaurant owner’s business needs — like menus, order routing and staffing — while embedding payments as a “mere” feature in their software."

ON THE WIRES

  • FIDO Alliance Announces New Authentication Specification Effort with EMVCo to Bring Added Security and Convenience to Mobile Payments - "The FIDO Alliance will develop a new technical specification into its FIDO authentication suite to fulfill use cases provided by EMVCo. The specification will provide a standard way for mobile wallet providers and payment application developers to support Consumer Device Cardholder Verification Method (CDCVM)1, enabling consumers to conveniently use on-device FIDO® Certified authenticators -- such as a fingerprint or "selfie" biometrics -- to securely verify their presence when making an in-store or in-app mobile payment."
  • CPI Card Group Introduces End-to-End Support for Open-Loop Digital Prepaid Cards - "CPI Card Group (Nasdaq:PMTS, TSX:PNT), a global leader in financial and EMV® chip card production and related services, today announced enhancements to its MYCA card ordering system that expand the gift card options available to program managers and financial institutions. CPI customers now have the ability to order and fulfill open-loop digital gift cards, which are delivered electronically through the MYCA platform and can be redeemed online."
  • Mastercard and BMO Make Fingerprint and ‘Selfie’ Payment Technology a Reality in North America - "Mastercard today announced the North American rollout Identity Check Mobile™, a new payment technology application that uses biometrics, including fingerprint and facial recognition, to verify a cardholder’s identity and simplify online shopping. BMO Financial Group (BMO) will be the first bank in the U.S. and Canada to offer Identity Check Mobile to its corporate customers starting in the first half of 2017."
  • Fifth Third Bank To Offer Real-Time Person-to-Person Payments - "Fifth Third Bank announced today that it will join Early Warning’s Zelle Network to offer customers a safe and fast way to make person-to-person (P2P) payments. With Zelle, money can be sent by simply using the recipient’s mobile number or email address. Fifth Third customers will have access to real-time payments with Zelle in 2017."
  • Verifone Introduces Advanced Commerce Capabilities & Fast Checkout in the Palm of Your Hand - Hello Experience! - "A part of the fully-integrated, Linux-based Verifone Engage family, the V400m is a result of the strategy at Verifone to offer new value at the POS by increasing loyalty and revenue opportunities for merchants and improving the consumer experience with real-time personalization wherever transactions are taking place. Whether it’s pay-at-the-table, curbside, or line-busting, its portability makes it an ideal solution for a variety of business scenarios."
  • Ingenico Group Launches First-of-Its-Kind Enterprise-Class mPOS Solution - "Ingenico Group, the global leader in seamless payment, today announced the launch of the iSMP4 Companion, a groundbreaking enterprise-class mobile point of sale (mPOS) device. Featuring the largest screen and battery capacity in its class, the lightweight iSMP4 makes it easy to accept all forms of payments – including EMV chip & PIN and chip & sign, magstripe and NFC/contactless – anywhere, anytime a merchant and consumer interaction may take place."

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. 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: gotnews@paymentsnews.com!

October 21, 2016

Headline News from PaymentsNews.com - October 21, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Visa tells Europe to be ready for 3-D Secure 2.0 by April 2018 - Finextra - "As EMVCo prepares to unveil a major update to the 3-D Secure specification for authenticating online transactions, Visa says that it expects to set a migration deadline for European merchants of April 2018."
  • PayPal’s $100 billion mobile payment milestone makes it eBay divorce winner - diginomica - "Over a year after its divorce from eBay, PayPal is looking at a significant milestone – over $100 billion mobile payments processed in the coming year. To put that into context, the firm has done $200 billion in volume across the whole of the last ten years."
  • PayPal ramps up mobile payments business - Tech Crunch - "PayPal reported third quarter earnings after the bell on Thursday. The global payments company reported an 18% increase in revenue at $2.67 billion, when analysts were expecting $2.65 billion. Adjusted earnings per share stood at 35 cents, in line with Wall Street expectations."
  • China Pushes for Blockchain Cooperation With New Research Report - Coindesk - "“[We] hope that all sectors work together to actively grasp the blockchain development trends and regulations...to create a favorable environment for development [and] accelerate the promotion of China's blockchain technology and industrial development.”"
  • Error Message: Addressing Issues with Dual Interface #Transaction Declines - TMG - "At this point, TMG and its processing partner First Data believe this is only impacting Visa-branded cards at Verifone terminals. Depending on the merchant’s point-of-sale (POS) terminal, there could be a couple of different issues at play."
  • Facebook Pages converts into purchasing platform, but further threatens big business - Mobile Commerce Daily - "The main features include new ways for customers to order, purchase or research purchases from a business directly through the Facebook app. For businesses of all sizes, the ubiquitous popularity of Facebook means that these new features will make interactions between brands and consumers on both ends a bit simpler."

ON THE WIRES

  • Visa Direct Expands Its Reach With Real-Time, Card-Based P2P and Funds Disbursements Services - "Today Visa (NYSE:V) announced that Visa Direct continues to gain momentum as a faster payments solution through key partnerships with FIS and Jack Henry & Associates, Inc. (NASDAQ: JKHY) for person-to-person (P2P) payments, and Stripe, Hyperwallet and Ingo Money for faster business and government disbursements."
  • Visa Introduces International B2B Payment Solution Built on Chain’s Blockchain Technology - "Visa is working with Chain to build Visa B2B Connect using Chain Core, an enterprise blockchain infrastructure that facilitates financial transactions on scalable, private blockchain networks. Building on this technology, Visa is developing a new near real-time transaction system designed for the exchange of high-value international payments between participating banks on behalf of their corporate clients. Managed by Visa end-to-end, Visa B2B Connect will facilitate a consistent process to manage settlement through Visa’s standard practices."
  • Bank of America Merrill Lynch and Modo Announce Strategic Relationship - "Bank of America Merrill Lynch, a global leader in transaction services, and ModoPayments, LLC (Modo), an industry leader in digital payments innovation, today announced a strategic relationship that will give the bank access to Modo’s patented COIN® Operated Digital Payments Hub. Through the hub, Bank of America Merrill Lynch clients will have the ability to connect with multiple emerging payment networks. Furthermore, the new global capabilities can extend the reach of the bank’s existing digital business-to-consumer offering, Digital Disbursements."
  • ETA Releases Guidance to Payment Facilitators with Voluntary Industry Best Practices - "The Electronic Transactions Association (ETA), the global trade association representing the payments technology world, released new Payment Facilitator Guidelines offering guidance and practices to these new entrants regarding settlement, registration, funding delays, fraud, security, and related issues. Authored by Double Diamond Group on behalf of ETA, these new guidelines will help promote the growth of the Payment Facilitators segment as it brings new technology companies into the payments industry. The Payment Facilitator Guidelines will be the cornerstone of benefits for companies that join ETA, the trade association of the payments industry."
  • Vantiv First to Offer Verifone Carbon with Commerce Platform - "To help SMBs keep pace and win in the face of this transformation, Verifone (NYSE: PAY) and Vantiv, Inc. (NYSE: VNTV) today announced an agreement to bring the Verifone Carbon Commerce Platform to market in the United States as a key feature of the Vantiv SmartFit Solutions™."
  • Shift4 and Mi9 Retail Announce Joint EMV Solution for Retailers - "Shift4 Corporation, provider of the DOLLARS ON THE NET payment gateway, and Mi9 Retail, a premier provider of merchandise management, store operations, customer engagement, and e-commerce software, today announced the general availability of their joint EMV-certified solution for retailers."

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. 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: gotnews@paymentsnews.com!

October 20, 2016

Headline News from PaymentsNews.com - October 20, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • 7-Eleven, McDonald’s, Circle K ... Google launches Android Pay at 5,000 Hong Kong locations - South China Morning Post - "Google has launched its mobile payments system Android Pay in Hong Kong, allowing Android users to make contactless payments in-store as it pits itself against Apple Pay and Tencent’s WeChat Wallet in the city. Smartphone users whose handsets are enabled with near-field communication (NFC) technology and runs KitKat 4.4 or higher will be able to download the Android Pay app and pay for purchases at over 5,000 locations in Hong Kong, according to the company."
  • Social payments app Circle adds two more European markets - Tech Crunch - "Circle has lit up two more European markets as it works to rapidly build out its presence in the region. Users of the P2P payments app in Spain and Ireland can now connect any Spanish or Irish bank account to the app to send and receive money within their own countries and across borders (with native Euro support in those markets)."
  • Mobile Wallets Are the New Loyalty Program - Bloomberg - "By absorbing the functions of loyalty cards, mobile wallets can beat credit and debit cards for convenience. Launched in October, Kohl’s Pay lets users redeem Kohl’s Cash and coupons, accrue rewards, and pay with the retailer’s branded Charge Card—in one step. Starbucks’s wallet lets customers earn free drinks and order and pay ahead; it makes up about 25 percent of the chain’s U.S. transactions."
  • Mobile payments on the rise, but still have far to go - San Francisco Chronicle - "As more retailers accept mobile payments, the options are growing. As of December, there were more than 2,000 payment-related startups, according to a report by research firm Forrester. But only a few apps will emerge victorious. So far, the three mobile payments with the most customer awareness are: PayPal (88 percent); Apple Pay (74 percent) and Amazon (61 percent), according to First Annapolis."
  • Mobile Payments More Secure Than People Think - Htet Tayza blog - "New research conducted by NTT DATA indicates that consumer fears are impeding the adoption of mobile payment technology worldwide. Of 2,000 consumers polled globally, over half expressed the belief that cash is more secure than mobile payments. In contrast of the 300 company executives questioned, 60% said that mobile payments will help them build their firms, because they are secure."
  • DocuSign partners with major payment providers to offer pay at signing - Tech Crunch - "The payment works in a similar fashion to adding a signature line. You drag your signature line from DocuSign into your document, then you drag a payment line along with it if required. You fill in the payment amount and send the document to the recipient."
  • Wal-Mart Turns To Blockchain For Tracking Pork In China - Wall Street Journal - "Identification details about each party handling the pork, as well as other data about transactions between parties, would be recorded on a blockchain system built on IBM’s version of the open-source Hyperledger platform. Blockchain data is immutable, which “reduces the opportunity for fraud or any inaccuracy,” Mr. Chang said."

ON THE WIRES

  • 100 million Africans will be impacted across 33 markets by Masterpass QR - "Masterpass QR is the first mobile-driven, Person-to-Merchant (P2M) payment solution. The solution is an enhancement to the Masterpass global digital payment service that will enable millions of micro, small and medium enterprises across Africa to begin accepting fast and secure digital payments. This service addresses the challenges of expensive infrastructural issues associated with point of sale devices and eliminates the need for cash."
  • R3 Trials Interbank Cross-Border Payments With Ripple’s Digital Asset XRP - "Financial innovation company R3 and twelve of its consortium member banks have trialed Ripple’s distributed financial technology and the potential for its digital asset to scale liquidity and reduce the costs and inefficiencies of interbank cross-border payments."
  • Consumers Willing to Take Additional Security Steps to Prevent Online Fraud as E-Commerce Grows, Finds New American Express Survey - "The report, which surveyed 1,021 U.S. consumers and 401 merchants, reveals that as ecommerce grows, payment security remains top of mind for both. Nearly half (48%) of consumers who shopped online in the past year have experienced payment fraud, representing nearly 80 million online consumers. Four in 10 consumers (40%) view online shopping as having more risk than an in-store purchase (28%). In addition, 42% of shoppers say that they have abandoned an online purchase due to payment security concerns. This increases to 48% for Gen X and 50% for Millennials, suggesting that while younger consumers are considered early adopters of new technology, they also place a high priority on the security of their information."
  • CVS Pharmacy Takes CVS Pay Nationwide Following Successful Pilot - "CVS Health (NYSE: CVS) today announced the national rollout of CVS Pay™, an end-to-end mobile payment solution at CVS Pharmacy. CVS Pay is now part of the CVS Pharmacy® mobile app, and integrates payment, prescription pickup and the ExtraCare® loyalty program all into one quick scan at checkout. CVS Pay is an example of the company's larger commitment to developing digital tools that simplify the customer experience, making it easier for consumers everywhere to better manage their health."

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. 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: gotnews@paymentsnews.com!

October 19, 2016

Headline News from PaymentsNews.com - October 19, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Regulators to Toughen Cybersecurity Standards at Nation’s Biggest Banks - Wall Street Journal - "The proposed standards would require financial firms to develop and maintain a cyberrisk management plan approved by their boards and incorporated into their business strategies. It would also require banks to use the cyberrisk management strategies in their business units and incorporate them into company audits. Under the proposal, institutions would also be required to establish and implement a plan that would allow them to continue to perform core business functions during a cyberattack."
  • Facebook embraces utility with food ordering and ticketing - Tech Crunch - "The more Facebook can become a place where you learn about and interact with businesses, the more it can accomplish its goal of connecting you with more than just people, and the more likely that businesses will pay to grow their visibility on the social network."
  • Mobile banking to grow to 2B users by 2020: report - Mobile Commerce Daily - "Mobile banking users are set to reach 2 billion by 2020, according to a new report from Juniper Research, suggesting that banks are placing as much effort on digital marketing and tools as traditional brands."
  • Mobile payments awareness up in North America, but usage remains flat - NFC World - "Nearly six in 10 North American consumers (56%) are now aware of mobile payment services — a 4% increase from this time last year, research from Accenture has revealed. However, the regular use of mobile payments remains flat at 19%, with 60% of consumers using cash at least weekly to make purchases at a merchant location."
  • Supporting New Mastercard 2-series BINs - Braintree blog - "Mastercard is introducing a new 2-series to their Bank Identification Numbers (BINs). A BIN refers to the first 6 digits of a credit card number and can be used to identify the card issuing institution. Up until now, Mastercard BINs have only been in the 5-series range, which begin with a 5."

ON THE WIRES

  • Citi Ventures Makes Strategic Investment in Feedzai, Provider of Data-Driven AI Fraud Prevention Technology - "Feedzai, a leading data science company shaping the future of fraud detection in commerce, today announced the close of a strategic investment from Citi Ventures, which accelerates innovation and growth at Citi. This investment will enable Feedzai to continue to expand its offerings to commerce and banking systems in new geographies."
  • Rambus Bell ID Simplifies Tokenization Management for Banks - "In response to the increasing complexity and fragmentation of the near field communication (NFC) mobile payments ecosystem, Rambus Bell ID – part of the Rambus Security Division – has launched Token Gateway. Issuing banks can now manage tokenization activity for the ‘OEM Pay’ mobile wallets through a single software platform. This significantly simplifies and consolidates integration with the multiple token service providers (TSPs) operated by third parties, like international and domestic payment schemes."
  • Newly Launched Travel Innovation Hub from CellPoint Mobile Will Develop Blockchain Applications for Travel-Sector Payments and Services - "Potential products will include a unified and secure passenger ID created from existing verified data (e.g., passports, visas, IDA, licenses, company and payment data, airline and travel records, loyalty program memberships and more); loyalty products that use blockchain processes to streamline and protect earn-redeem transactions in airline and travel loyalty programs; and payment products that integrate blockchain authentication, digital wallet blockchain payment processors and other services directly from CellPoint Mobile's payment orchestration layer. "
  • SecureKey Completes $27 Million Strategic Investment Round - "SecureKey Technologies Inc., a leading provider of identity and authentication solutions, today announced that it has raised $27 million CAD in growth capital to fund the commercial rollout of a privacy-enhancing digital identity network. Teaming up with SecureKey on this initiative and participating in the funding round are leading financial institutions: BMO Bank of Montreal, Bank of Nova Scotia, CIBC, Desjardins, Royal Bank of Canada and TD."
  • 40% Of Millennials Upgrade Their Wearable Device Every 6-12 Months - "Many millennials tend to replace their wearable devices, even if they’re still working. Four in 10 (40%) millennials replace their wearable every six months to a year, based on a new global study."
  • Drive Traffic, Speed Mobile Payments with FIS BuyWay - "BuyWay acts as a single point of integration, engaging secure, cloud-based technology that connects apps on a consumer’s digital device or car to a merchant’s point-of-sale (POS) system – eliminating the need for retailers to purchase new hardware. It adds payment functionality to merchant apps, speeds up purchases by eliminating physical contact with the POS and increases security because no card data is passed through the POS. As a single point of integration, it also simplifies deployment and opens new sales opportunities. Importantly, it can be integrated into loyalty rewards programs, allowing instant rewards that drive customer loyalty and complete the customer purchase journey."
  • Fifth Third Bank Launches Comprehensive Electronic Card Payables Solution for Commercial Clients - "As a leader in commercial payments, Fifth Third Bank (NASDAQ: FITB) has launched Fifth Third ePay, an upgraded electronic accounts payable (EAP) solution for commercial card clients using virtual card numbers for payment. Fifth Third ePay enables clients to take advantage of electronic accounts payables and meets evolving client needs. Fifth Third ePay provides clients with multiple options for supplier payments, visibility into account and payment status, and program controls for fraud and risk mitigation."
  • Thales Survey reveals 88% would stop using digital payments if breached - ""It's easy to see why mobile payments continue to grow in popularity – they are fast and convenient," said Jose Diaz, director of payment strategy at Thales e-Security. "But results of the survey showed that people have strong doubts about their safety, especially while traveling. The mobile payments industry needs to take note that their future success is based on trust. And that trust can easily fail if they do not provide the strong protection of their infrastructure, transactions and data that customers expect.""

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. 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: gotnews@paymentsnews.com!

October 18, 2016

Headline News from PaymentsNews.com - October 18, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Visa CEO Scharf Resigns, Replaced by Ex-AmEx President Kelly - Bloomberg - "Visa Inc. Chief Executive Officer Charlie Scharf said he’s resigning from the San Francisco-based firm to be closer to family on the East Coast, passing control to board member Alfred F. Kelly and ending a tenure in which the stock doubled."
  • Blockchain Biometrics Startup Raises $3 Million in New Funding - Coindesk - "While not the only area of focus for HYPR – the startup is also pitching its technology for broader use in IoT and cloud computing applications – it's an area that some advocates have said could play a role in developing means for putting identity on the blockchain."
  • Apple Seeks to Promote Cashless Society - WebProNews - "Apple's CEO sees Apple Pay as the beginning of the end of cash worldwide. "We would like to be a catalyst for taking cash out of the system," said Cook. "We don't think the consumer particularly likes cash.""
  • Google Shopping partners with ecommerce platforms to make selling online easier than ever this holiday season - Google Inside Adwords - "Today, we’re excited to announce partnerships with three major ecommerce platforms -- BigCommerce, PrestaShop, and Magento -- to make it easier than ever before to get started on Google Shopping for the holidays, and beyond. If you’re using any one of these platforms (or if you’re thinking of using one of these platforms), our new partnerships let you easily submit your product information to Google Shopping and quickly reach millions of new customers searching for what you sell."
  • Self-Checkout Skimmers Go Bluetooth - Krebs on Security - "Here’s a look at one overlay skimmer equipped with Bluetooth technology that allows thieves to snarf swiped card data and PINs wirelessly using nothing more than a mobile phone."

ON THE WIRES

  • Are Banks an Endangered Species? Survey Shows that Majority of Americans Believe that Traditional Banks Aren't Keeping Up with the Times - "As it turns out, the majority (57%) believe that traditional financial institutions as we know them will cease to exist within their lifetime while nearly 70% believe that it's FinTech solutions that are making their lives and financial health better. Blumberg Capital, a San Francisco based early-stage venture capital firm, today released findings that paint a tumultuous future for traditional financial institutions that aren't embracing new technology as more and more Americans migrate toward the innovative products and services offered by emerging FinTech companies. "
  • Elavon and Poynt Offer Best-in-Class Smart Terminal for Small and Mid-Sized Businesses - "U.S. Bancorp subsidiary Elavon and California-based Poynt today announced a partnership to offer one of the most advanced payment devices available to small to mid-sized businesses in the U.S., featuring the latest in payment acceptance technology, pre-installed security features and a broad range of mobile capabilities."
  • Mobile Payments Awareness Grows, Cash Use Declines; Consumers Demand More to Make the Leap to Mobile, Accenture Survey Finds - "Sixty percent of consumers in North America use cash at least weekly to make purchases at a merchant location, down seven percentage points from 2015 – the most significant decline in use of traditional payment methods over the past year, according to a new report from Accenture (NYSE:ACN). Awareness of mobile phone payments increased four percentage points from last year to 56 percent, however the regular use of mobile payments remains flat at 19 percent."
  • LexisNexis Risk Solutions Global Millennials Report Indicates Need for Companies to Adopt New Approach to Identity Verification - "The study upends some previously held assumptions about Millennials, including its finding that, despite their digital connectivity, Millennials are extremely guarded about sharing their personal information. A chasm exists between Millennials' desire for secure access on all connected devices and their discomfort and unwillingness with sharing data—a wake-up call that businesses need to find ways and solutions that minimize the amount of data they collect."
  • Verifone Leads Effort to Define and Implement the Newest Conexxus Mobile Payment Global Standard for Loyalty - "Working with mobile payment early adopters to define a standard interface, Verifone was instrumental in creating an open API that all mobile payment providers and POS manufactures can implement. Verifone and its partners are now deploying open mobile payment solutions across a wide variety of applications including retail branded apps and direct ACH payment at the pump with community banks."
  • Gilbarco Veeder-Root, Xpedient and P97 Partner to Deliver a Mobile Commerce Solution - "Gilbarco Veeder-Root, Xpedient LLC and P97 have partnered to enable the next advancement in Payment, Loyalty and Food Ordering from a mobile device. P97's PetroZone® solution for Mobile Payment and Digital Offers has been tested and certified with the Gilbarco Passport® Point of Sale. This new, mobile commerce solution is based on the Conexxus Standard Interface, and mobile ordering has been integrated through an API provided by Gilbarco's Food Service partner, Xpedient LLC."

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. 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: gotnews@paymentsnews.com!

October 17, 2016

Headline News from PaymentsNews.com - October 17, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Apple Pay arguments against Oz banks ‘superficial and unconvincing’ - Payments Cards and Mobile - "Apple would naturally prefer to deal with card issuers on an individual basis using the ‘take it or leave it’ approach that it has used successfully in other countries. However, its arguments against the collective negotiation are superficial and unconvincing,” the banks said in their response."
  • Korean Credit Card Giant to Integrate Blockchain Identity Service - Coindesk - "The service will be based on what Coinplug calls FidoChain, a “private blockchain technology” aimed at providing a distributed means of verifying and maintaining digital identities. KB Koomkin Card, a subsidiary of KB Koomkin Bank, plans to complete its integration by the end of this year."

ON THE WIRES

  • American Express Launches “Amex for Developers” Portal - "American Express (NYSE: AXP) today announced the launch of Amex for Developers, a new portal providing a single point of access to company APIs and developer resources in such categories as payment services, customized experiences, data intelligence and fraud prevention. The portal is launching with an initial set of products; ongoing releases are expected to include additional products in new categories."
  • Nautilus Hyosung America Launches Industry's First Mobile App for ATM Operators and Distributors - "Nautilus Hyosung America (Hyosung), the largest and fastest growing ATM provider in the United States, today announced the availability of its new, patent-pending mobile application, for the ISO/IAD channel. MoniMobile allows ATM operators and distributors to manage Hyosung ATMs remotely with the greatest level of ease and efficiency."

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

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: gotnews@paymentsnews.com!

October 14, 2016

Headline News from PaymentsNews.com - October 14, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • ACI is Steadily Paving the Way for Central Bank Blockchains - Coindesk - "Constructed on a five-node network that runs on servers in Omaha, Nebraska, and Norcross, Georgia, ACI has built a blockchain proof-of-concept specifically designed to simulate how a central bank and four financial institutions could transact on a blockchain."
  • Cards in space: Nationwide takes contactless to the edge of the earth - Finextra (re-posted just for fun) - "At an altitude more than three times higher than Mount Everest and as cold as Antarctica, Nationwide worked in partnership with First Data to develop a specially designed Clover Mobile terminal to process the pioneering transaction."

ON THE WIRES

  • Raintree Systems Partners with TransFirst® - "Raintree Systems, a provider of highly-configurable, comprehensive EMR/EHR and Practice Management software and services solutions, has partnered with TransFirst, a leading provider of transaction processing services and payment enabling technologies."
  • PayBySky Launches World`s First Autonomous Parking Payment Service for Calgary's ParkPlus System - "PayBySky uses a small in-vehicle device called a 'Skymeter' to pinpoint a vehicle's exact location so it can then make an automatic parking payment on your behalf using Calgary Parking Authority's ParkPlus account."
  • International Card Establishment launches disruptive payment technology for the MJ sector plus grows and funds operations - "The company's core business is providing credit card processing, point of sale systems and online services for business providing legal and recreational marijuana across five states. The company started talks with three bitcoin companies in the last month to integrate bitcoin wallet and QR payments to its NetOne point of sales system. The company plans to finalize an agreement and will announce to shareholders once inked."
  • Glance Pay Announces First Step in US Expansion - "“Glance Pay is experiencing strong growth in Vancouver and we are eager to bring Glance Pay to major cities across Canada and the United States,” says Penny Green, Glance’s Chief Operating Officer, “Now that we have set up our US subsidiary, our next step will be to form alliances in the US to set up Glance Pay for rapid growth.”"

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

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: gotnews@paymentsnews.com!

October 13, 2016

Headline News from PaymentsNews.com - October 13, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • PHH v. CFPB: A Blessing in Disguise for the CFPB - Credit Slips - "The CFPB lost on the decision's rhetoric, but won on the practical implications. Although the CFPB’s current structure was declared unconstitutional, the court also immediately remedied the flaw by declaring that the CFPB Director is now removable by the President at will, rather than only "for cause" as provided for by the Dodd-Frank Act. "
  • Goldman’s Online Consumer-Lending Platform Goes Live - Wall Street Journal - "The service puts Goldman in direct competition with so-called fintech upstarts such as venture-funded online lenders LendingClub Corp. and Avant Inc. Those have arisen since the financial crisis to fill a void left by banks, who stepped back from parts of the personal-loan market after 2008."
  • Growth Of Multi-Channel And Omni Channel Payments - Point of Sale News - "A shift in shopping is occurring, and small business retailers need to adopt a strategy to keep up with the shift. The shift is being driven by the rise of the smartphones, like the iPhone, the speed of telephone networks, the growth of online shopping, and growth of new payment types like Apple Pay and EMV. "
  • Nets Shares Drop as Nordea Teams Up With Danske on Payment App - Bloomberg - "Nordea Bank AB has dropped the electronic payment system it was developing with Danish banks and will instead team up with its main rival in Scandinavia, Danske Bank A/S, to use its more popular MobilePay product."
  • IoT Devices as Proxies for Cybercrime - Krebs on Security - "Multiple stories published here over the past few weeks have examined the disruptive power of hacked “Internet of Things” (IoT) devices such as routers, IP cameras and digital video recorders. This post looks at how crooks are using hacked IoT devices as proxies to hide their true location online as they engage in a variety of other types of cybercriminal activity — from frequenting underground forums to credit card and tax refund fraud."

ON THE WIRES

  • Institutions In 6 Asia-Pacific Countries Adopt UnionPay Chip Card Standard - "his agreement signing is of great significance: First, it means that the cooperation between UnionPay and payment industries outside mainland China has upgraded from business cooperation to comprehensive partnership in product and standard. Second, it helps the payment industries in these markets upgrade, and paves way for the roll-out of UnionPay's innovative payment products. Third, it helps enhance the competitiveness of China's payment industry."
  • American Express and Intuit Help Small Businesses Tackle Cash Flow Crunch - "Intuit Inc. (NASDAQ:INTU) and American Express today announced a partnership that will give qualified QuickBooks Online small business customers who are also American Express OPEN® Business Card Members access to short-term, low-cost financing from American Express to pay vendors and ease the cash flow crunch. This unique partnership will make American Express Working Capital Terms the payables financing solution for QuickBooks Online customers."
  • ACI’s UP Immediate Payments Helps TransferWise Connect to Faster Payments Scheme - "ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, today announced it has provided the back-end technology for TransferWise’s successful integration into the Faster Payments Scheme."
  • Slice Launches New App That Gives Local Pizzerias Mobile Ordering Technology To Compete With Big Chains And Enables Pizza Lovers Nationwide To Easily Order Authentic Pizza - "Slice (www.SliceLife.com), the platform that connects people with authentic local pizzerias, today announced the launch of its new ordering experience and iOS app. Slice is designed to build rewarding relationships between independent pizzerias and pizza lovers who want the convenience of mobile ordering and payment."
  • Seventy-Nine Percent of Diners Say Technology Improves Their Restaurant Experience - "Seventy-nine percent of consumers agree that technology improves their restaurant experience, according to a survey conducted by Toast Restaurant POS, the all-in-one restaurant technology platform. The finding was unveiled as part of the Toast Restaurant Technology in 2016 Dining Report, released today, which analyzes responses from more than 1,100 diners, revealing how they feel about consumer-facing technologies in the restaurant space – including identifying the technologies they use most frequently, and those they could do without. "
  • Jack Henry & Associates Introduces Electronic Bill Presentment and Payment Solution - "Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its JHA Payment Solutions™ group today announced the availability of JHA EPS SmartPay Biller Direct℠, an electronic bill, invoice and payment solution."

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

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: gotnews@paymentsnews.com!

October 12, 2016

Headline News from PaymentsNews.com - October 12, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

ON THE WIRES

  • Nok Nok Labs Delivers Comprehensive, Risk-Based Authentication - "Nok Nok Labs, an innovator in modern authentication and a founding member of the FIDO Alliance, today announced the launch and availability of the Nok Nok™ S3 Authentication Suite - Premium Edition. The S3 Suite is the first unified platform enabling organizations to leverage standards-based authentication that supports existing and emerging methods of biometric authentication such as fingerprint, iris and voice. The Premium Edition of the S3 Suite provides organizations with an improved customer experience for mobile consumers, stronger security and lower fraud costs through risk-based authentication supporting all current and future FIDO protocols."
  • NFC Forum Technical Specifications Improve RF Communication and NFC Tag Interoperability with NFC Devices - "The NFC Forum announced today the availability of one adopted and four candidate technical specifications, following approval by the Board of Directors. The specifications are available on the NFC Forum website. Formerly a candidate specification, the Analog 2.0 Technical Specification delivers new capabilities that support improved RF communication to ensure interoperability between Near Field Communication (NFC) devices and existing RF infrastructure and cards based on the ISO/IEC 14443 and ISO/IEC 18092 standards."
  • PSCU Selects Qlik to Help Support Strategy for Service Delivery Excellence - "Qlik®, a leader in visual analytics, today announced that PSCU, an award-winning and leading provider of financial services and payment solutions to credit unions, has deployed Qlik Sense® to drive greater efficiencies across the service organization. By leveraging Qlik Sense, PSCU is able to aggregate large amounts of operational performance data from various sources such as frontline applications, databases and surveys. That data provides decision makers near real-time information to make tactical, data-driven business decisions that support PSCU’s vision of providing an unparalleled member experience."

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

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: gotnews@paymentsnews.com!

October 11, 2016

Headline News from PaymentsNews.com - October 11, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Wells Fargo Managers Pushed Overdraft Services - Wall Street Journal - "Wells Fargo & Co. managers pushed bankers to sign up customers for potentially costly overdraft protection that they didn’t always need or realize they were getting, according to current and former bankers and managers."
  • Watch the first episode of our new series Trust Disrupted: Bitcoin and the Blockchain - Tech Crunch - "We have a new series launching this week called Trust Disrupted: Bitcoin and the Blockchain. The six-episode series examines the rise of Bitcoin and the tech that allows it to operate. The first episode will answer all your questions about the Bitcoin platform and how it works. Why did futurists want to create a totally digital currency? How would it work? What will the effects of Bitcoin and the blockchain have on the future of our economy?"
  • Facebook lets users make purchases from brands directly through Messenger app - Mobile Commerce Daily - "The social media giant will now let consumers who engage with brands through the Messenger app purchase products with the tap of a button. The new capability is brought about by a partnership with Shopify."
  • Wells Fargo Forms Tech-Payments Group, Promotes Two Managers - Bloomberg - "Wells Fargo & Co. combined corporate payments and some consumer-banking operations with the technology-innovations group, creating a unit run by the former leader of consumer lending, Avid Modjtabai."
  • Credit Unions Turn to Blockchain Amid Increasing Competition - Coindesk - "A less-discussed type of financial entity, the credit union service organization (CUSO), has emerged as an unlikely – but significant – player in the industry’s CU Ledger blockchain initiative."
  • Facial Recognition Software Advances Trigger Worries - Wall Street Journal - "But the technology comes with a darker side. One of the company’s products touched off a privacy scandal in Russia, and the founders say they are in negotiations to sell its products to state-affiliated security firms from China and Turkey, among other countries, many of whom have spotty records of protecting civil liberties."

ON THE WIRES

  • Trailblazing in Tech: Hispanic Consumers Reveal Mobile-First Mindset, Early Adoption of Fintech - "Hispanic consumers are significantly more likely to engage with mobile to manage their finances, with 78 percent using a mobile banking app, compared to approximately half (51 percent) of non-Hispanics. What’s more, nearly three-quarters (69 percent) of the Hispanic community cite digital as their primary method of banking."
  • QuickBooks Self-Employed Helps Freelancers Get Paid Faster With Effortless Invoicing - "Invoicing has been the top requested feature from QuickBooks Self-employed users. Research shows that freelancers are owed an average of $10,000 in unpaid invoices, and spend 36 hours tracking down each missing payment. Now QuickBooks Self-Employed users will be able to take advantage of functionality that has already helped QuickBooks Online users get paid 15 days faster."
  • Fifth Third Bank Launches New Consumer Credit Cards - "Fifth Third understands that consumers want simplicity in their financial lives. So today Fifth Third is introducing two new credit card products, TRIOSM and Truly SimpleSM, that are easy for consumers to understand, use, and maximize their benefits."
  • To Go Stores selects P97 to transform Puerto Rican Pay at the Pump Experience - "The mobile deployment will take full advantage of P97’s strategic partner Verifone’s, new Commander Electronic Payment Server/Forecourt Controllers, which are being installed at all sites to ensure the in-store Point of Sale systems are EMV compliant and enabled with the Conexxus mobile standard. Rapid and secure mobile account authentication is supported by Microsoft’s Azure B2C and payment accounts are enabled instantly with the PetroZone integration by Automated Clearing House (ACH) provider BIM (Buy It Mobility)."

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

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: gotnews@paymentsnews.com!

October 10, 2016

Headline News from PaymentsNews.com - October 10, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Amazon’s Alexa aims to be a bank teller, insurance agent, too - Boston Globe - "Fidelity Investments is letting customers check their account balances by speaking with Alexa. Virginia-based Capital One earlier this year let its customers pay their mortgage and car loans using Alexa. And FIS, a Florida company that provides technology for hundreds of banks, is piloting similar Alexa-compatible technology across the country, including in Massachusetts, that it plans to release next year. “We think it’s got a lot of potential,” said Doug Brown, a senior vice president at FIS. “This is a rapidly expanding ecosystem.”"
  • IMAGINING A CASHLESS WORLD - The New Yorker - "In 2013, Sweden eliminated its largest-denomination bill, and demand for its second-largest bill, the five-hundred-krona note (about sixty dollars), surprisingly fell off soon afterward. By 2014, only a fifth of Swedish retail transactions were being conducted in cash. (In the U.S., it’s slightly less than half.) Swedish ticket machines for trains and buses usually take only cards; increasingly, cafés and bars and restaurants refuse cash, too. About half of the country’s bank branches don’t allow withdrawals or deposits in bills. As of a few years ago, “you could see the first signs of Sweden moving toward a true cashless society,” Jacob de Geer, who runs the pan-European, Square-like transaction service iZettle, told me recently. “Many of the smaller shops started putting signs up on their doors saying ‘We Don’t Accept Cash.’ ” "
  • OnStar subscribers can now make mobile payments through car app - Mobile Commerce Daily - "The new feature will be available on all of GM’s mobile apps and lets users make purchases from a variety of retailers and restaurants through their phones. The payment system will use a system called AtYourService and will be powered by Sionic Mobile."
  • Securing CSP Networks from the Next Wave of Threats - Telecom Engine - "Mobile payments is another area that is growing rapidly but potentially brings added risk for carriers. Contactless payment services are a natural fit for communications carriers, and many are partnering with technology companies, credit card issuers, banks and retailers to develop mobile payment systems that can drive new revenue streams. But the adoption of new payment systems might bring unexpected security risks."
  • Europe to Push New Security Rules Amid IoT Mess - Krebs on Security - "The European Commission is drafting new cybersecurity requirements to beef up security around so-called Internet of Things (IoT) devices such as Web-connected security cameras, routers and digital video recorders (DVRs). News of the expected proposal comes as security firms are warning that a great many IoT devices are equipped with little or no security protections."

ON THE WIRES

  • Acquisition of the retail business of Citibank in Brazil - " Citibank (with 71 branches) offers financial products and services to individuals in the retail segment in Brazil, including checking accounts, loans and credit cards, comprising approximately a client base of 315,000 checking account holders, R$ 35 billion in deposits and assets under management (gross amounts on the base date of December 31, 2015), 1.1 million credit cards and a loan portfolio of R$ 6 billion. With this acquisition, Itaú Unibanco's assets will reach to R$ 1,404 billion. The impact on Itaú Unibanco's core capital resulting from this transaction is estimated at approximately 40 bps (Basel III Full Ratio)."
  • Seamless Distribution AB: SEQR launches Contactless Payments and Gocardless Service in the UK – SEQR customers can pay from bank account at 500,000 points of sale - "As of today SEQR customers in the UK are now able to quickly and simply link their bank account to the SEQR app and make payments directly from their bank account. Until now UK customers have enjoyed the benefits of the SEQR pre paid account functionality, however enabling customers to connect their bank account opens SEQR up to millions more customers who prefer direct payment over a pre paid option."
  • Apriva Completes EMV Certification of Ingenico Group Terminals to TSYS - "Apriva, the leading provider of secure end-to-end wireless transaction processing solutions, today announced it has completed EMV certification with TSYS® Acquiring Solutions (NYSE: TSS) for Ingenico Group’s Telium2 smart terminals connecting through the Apriva Gateway."
  • Discover® to Match Cardmember Donations for Hurricane Matthew Relief Efforts - "Discover Financial Services (NYSE:DFS) announced today that it is pledging up to $500,000 to the American Red Cross for Hurricane Matthew relief efforts through a cardmember donation matching program. For every cardmember who donates to the American Red Cross using their Cashback Bonus®, or by making a donation with their Discover card, Discover will match those donations dollar-for-dollar up to $500,000. Discover is also waiving the transaction fees on all credit card donations to the American Red Cross for the immediate future."

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: gotnews@paymentsnews.com!

October 07, 2016

Headline News from PaymentsNews.com - October 7, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Staples adopts Apple Pay for Web after in-app success - Mobile Commerce Daily - "Office supplier Staples is investing more in Apple Pay for online purposes after it saw 30 percent of its mobile application sales coming through the mobile pay program, but its in-store usage is lacking."
  • Optimizing Transaction Speed at the Point of Sale - EMV Connection - "As chip cards continue to be issued and chip-enabled terminals continue to appear at merchant locations across the U.S., many cardholders and merchants are having varied responses to their chip transaction experiences. A common response heard across the industry is the inconsistent speed observed during an EMV transaction, where a chip transaction might take a couple seconds at one merchant but 20 or more seconds at another."
  • Nasdaq Wants to Patent Blockchain Backups for Exchanges - Coindesk - "Nasdaq is looking to patent a method by which a blockchain could be used to secure records of exchange transactions. On 6th October, the US Patent and Trademark Office (USTPO) released an application for "systems and methods of blockchain transaction recordation", originally submitted by Nasdaq on 31st March."
  • Bringing Home the Bacon with a Good Card Program - FIS blog - "Over the last five or six years, card usage has grown enormously. Debit card usage is up over 50 percent, while credit cards up by just under 30 percent, according to The Nilson Report from Dec. 2015. These upward trends look set to continue to the end of the decade as card penetration continues its steady growth."
  • PwC: Digital And Mobile Holiday Spending Will Jump 25% - Retail Touch Points - "Furthering the need for retailers to bolster their store experiences, both e-Commerce and mobile sales are set to skyrocket, increasing by 25% each. With more shoppers expected to buy through digital channels in the 2016 holiday season, retailers need to ensure that this growth doesn’t cannibalize their brick-and-mortar presence. However, brands are encouraged to continue optimizing e-Commerce and mobile experiences to include frictionless, one-click checkout and easy access to store inventory."

ON THE WIRES

  • AFSA urges changes to CFPB's proposed small dollar rule - "The American Financial Services Association (AFSA) has submitted its 37-page comment letter to the Consumer Financial Protection Bureau (CFPB) urging the federal regulator to preserve consumers’ access to safe and affordable traditional installment lending (TIL) by modifying the Proposed Rule on payday, title loans and certain high-cost installment loans."
  • From the Trenches: Current Status of Security and Risk in the Financial Sector - "Ransomware, identified by 55% of respondents, has eclipsed spearphishing (50%) as the top attack vector for the first time. Such attacks have caused considerable damage, with 32% of survey respondents citing losses between $100,001 and $500,000 as a result of their breaches."

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: gotnews@paymentsnews.com!

October 06, 2016

Headline News from PaymentsNews.com - October 6, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Chip card lawsuit to move forward against Visa, Mastercard, others - CIO - "A federal judge has ruled it is plausible that four national credit-card companies improperly conspired “in lockstep” to set a deadline of Oct. 1, 2015 for requiring retailers to upgrade their technology to accept embedded chip cards for credit and debit card purchases."
  • Kohl’s rolls out its own mobile payments platform, Kohl’s Pay - Tech Crunch - "That being said, the retailer has more than 25 million active cardholders across the U.S., so there is a sizable market that may be interested in using Kohl’s Pay at the point-of-sale. And these are Kohl’s most active and loyal customers — 60 percent of its in-store sales are done through its store cards, the retailer has said. What makes the solution better than traditional methods (e.g. cash, credit cards) is that it allows shoppers to automatically redeem the rewards they’ve collected in the app’s mobile wallet, at the same time as they check out — that is, it all takes place within one transaction."
  • New protections for prepaid accounts - CFPB - "The CFPB’s new rule on prepaid accounts creates comprehensive consumer protections for prepaid accounts that take effect on October 1, 2017."
  • Cross-Border Payments Startup Payoneer Raises $180 Million - Bloomberg - "Eleven-year-old Payoneer provides digital cross-border payments and transaction-related services. While the New York-based company has been profitable for three years, Payoneer raised cash to give it more flexibility to spend on expanding its workforce and global presence and build a bigger acquisition arsenal, said Chief Executive Officer Scott Galit."
  • Security Design: Stop Trying to Fix the User - Schneier on Security - ""Blame the victim" thinking is older than the Internet, of course. But that doesn't make it right. We owe it to our users to make the Information Age a safe place for everyone -- not just those with "security awareness.""

ON THE WIRES

  • PaySimple Introduces First eCommerce Platform for Services - "By using the PaySimple Online Store, small business owners can also focus on more than just selling. The system provides best-in-class order management, customer reconciliation, real-time business insights and reporting to learn which customers and products are their best, so that they can be more strategic and focus on their passions."

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: gotnews@paymentsnews.com!

October 05, 2016

Headline News from PaymentsNews.com - October 5, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

ON THE WIRES

  • Cardtronics to Acquire DirectCash Payments - "Cardtronics plc (Nasdaq:CATM) and DirectCash Payments Inc. (“DCPayments”) today announced a definitive agreement under which Cardtronics would acquire DCPayments. The purchase price of CAD$19.00 per share includes the assets of First Data Corporation’s Australian retail ATM and managed services ATM portfolio (“First Data ATM portfolio”), which was acquired by DCPayments on September 30. DCPayments is a leading global ATM services provider with approximately 25,000 ATMs (inclusive of its First Data ATM portfolio acquisition) with primary operations in Australia, Canada and the United Kingdom."
  • MineralTree and Visa Ink Strategic Alliance to Streamline Commercial AP Payments - "Today MineralTree, the Accounts Payable and Payment Automation solution provider for middle market companies, announced a strategic alliance with Visa to integrate the MineralTree platform with Visa Payables Solutions to drive the growth of Accounts Payable (AP) payments using commercial virtual cards. "
  • Revel Systems Announces RevelGuard - "Revel Systems, the world's leading iPad Point of Sale management solution for brick-and-mortar retail, food businesses and more, today announced the launch of RevelGuard, a hardware device that monitors the network health and builds alerts for clients with POS terminals using Revel."

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: gotnews@paymentsnews.com!

October 04, 2016

Headline News from PaymentsNews.com - October 4, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Millennials and Money – Are they Maligned or Misunderstood? - Payments Views (Glenbrook’s Beth Horowitz Steel) - "Contrary to popular belief, the millennial generation is not lazy, entitled or narcissistic. They are a robust group of entrepreneurial, socially astute and media savvy consumers. They make discerning decisions about their money and are thoughtful about the companies they trust."
  • Mastercard app lets online shoppers pay with a selfie - International Business Times - "Mastercard is about to start letting customers in the UK and Europe pay for goods online by using their face instead of a password. Having already been trialled in the US and Canada, the service, called Identity Check Mobile, asks for customers to pose for a photograph of their face to authenticate online purchases."
  • Should SWIFT be afraid of blockchain technology? - Finextra opinon blog - "My first question: is blockchain really a threat for an organisation like SWIFT, that nowadays connects more than 8,000 financial institutions around the globe. This coordinated global payments network worked well enough for over forty years. Designed before the digital age, it is the best existing interbank messaging and exchange system, but needs a major upgrade."
  • Stripe payments exits beta in Japan, adds Sumitomo Mitsui Card Company as investor - Tech Crunch - "Stripe, the company that lets app publishers, online merchants and other digital businesses include payments features via a few lines of code, is expanding in Asia. After launching in Singapore two weeks ago, the startup is now officially opening for business in Japan. And alongside the Japan launch, Stripe is announcing a new investor. Sumitomo Mitsui Card Company, the largest credit card provider in the country, is taking a stake in the startup."
  • Why CGI Doubled Down on Ripple's Distributed Ledger Tech - Coindesk - "Since building one of the earliest Ripple proofs-of-concept in 2014, CGI has expanded its work with the distributed ledger into new areas. In July, CGI announced that it had integrated Ripple into its Intelligent Gateway service, used for sending Swift transaction messages. Then, at Sibos earlier this week CGI announced it has launched a blockchain laboratory for its customers to experiment with using Ripple for trade finance."
  • Q&A: Wal-Mart CIO Karenann Terrell on What the Retailer Learns From Online Grocery Data - Wall Street Journal CIO Journal - "Wal-Mart Stores is making a big push into the online grocery business this year, expanding beyond test markets to new cities across the U.S. Shoppers can place orders at Wal-Mart’s website and in its mobile app, for pick up at nearby stores. By analyzing data gathered as shoppers buy items from cantaloupe to cat food online, the retailer is learning how to better run backend operations as well as frontend customer service systems, Wal-Mart CIO Karenann Terrell tells CIO Journal."

ON THE WIRES

  • ATM Fees Set New Record High; Overdraft Fees Are Down - "ATM fees set a new record high for the 10th year in a row, with the total cost of using an out-of-network ATM withdrawal rising to $4.57, according to Bankrate.com's (NYSE: RATE) 19th annual checking survey."
  • Jack Henry & Associates Expedites P2P Payments - "ack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its JHA Payment Solutions™ group today announced that it has partnered with Visa® to deliver faster P2P (person-to-person) payments to a recipient's Visa debit card."
  • LG Brings Streamlined Payment Option To Smart TVs - "LG Electronics, in collaboration with Paymentwall, announced today that developers now have the opportunity to create apps that enable LG webOS Smart TVs in the United States to support scores of different online payment methods. LG's global Paymentwall alliance, bringing more than 140 payment options to more than 200 countries, will give consumers easier access to paid apps, movies, games and much more through LG's intuitive webOS Smart TV platform. "
  • FICO and Lenddo Partner to Extend Credit Reach in India - "The collaboration will combine Lenddo's dedicated knowledge in the use of nontraditional data for scoring and online verification with FICO's established strength in credit scores that are predictive, transparent and fair. FICO and Lenddo are developing a score that will give lenders improved certainty around the risk assessment of people with 'thin-files' – those who don't have enough data in their credit report to score. Both companies are committed to the common goal of enhancing financial inclusion around the world."
  • Automated Payments Systems in High Demand as International Payments Soar Due to Increasing Pace of Globalization - "AFEX, one of the world’s largest non-bank providers of global payment and risk management solutions, today announced the results of its inaugural State of International Payments Report, finding that nearly half (46%) of North American companies involved with international commerce expect to utilize international payments more this year than in 2015. As a result, nearly one in three North American companies (29%) are planning to start using, or plan to upgrade their online automated international payments tools in the next 12 months to increase operational efficiency, mitigate risk and reduce costs."

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: gotnews@paymentsnews.com!

October 03, 2016

Headline News from PaymentsNews.com - October 3, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Android Pay removing ‘grandfathered’ credit cards from Google Wallet on October 14th - 9to5 Google - "Google’s Android Pay mobile payment service has been decidedly more restrictive since day one, all in the name of security. How so? Android Pay has always relied on a connection with a supported bank, leaving many other users out of Google’s favor."
  • Salesforce Brings E-Commerce Software Into the Fold and Smartens it Up - Fortune - "New with this release of the on-demand software is support for Apple AAPL -0.63% Pay, which enables secure payments from iPhone, iPad, or Mac devices. That could ease one big problem for online resellers who “increasingly see customers abandon the sale at checkout when they have to enter payment,” Shelley Bransten, Salesforce’s senior vice president of retail and consumer products told Fortune in an interview."
  • 3 Reasons Online Stores are Failing Your Service Business - PaySimple Blog - "Retail-based shopping carts can be great solutions for businesses trying to sell online. But for service-based businesses, sometimes they aren’t doing any favors."

ON THE WIRES

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: gotnews@paymentsnews.com!

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