Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!
ON THE WEB
- Why Closing Bank Branches Isn’t Always a Road to Riches - Wall Street Journal - "One of banks’ favorite cost-cutting strategies in recent years has been closing branches. But a new study suggests the approach may soon backfire."
- Bank of America chief: Payback from digital investment is long haul - Mobile World Live - "Bank of America’s (BofA) CEO, Brian Moynihan, told Reuters it may take 10 to 15 years before US banks see the benefit of investing in mobile payments and other tech. Moynihan foresees banks still carrying the cost of processing paper-based cheques and carrying physical dollars and cents for that period of time, according to an interview."
- Bank CEOs fret about ROI as startups drive IT arms race - Finextra - "Innovations such as real-time payments - a hot topic throughout the conference as a result of The Clearing House’s initiative in this space - require banks to think differently about their expectations of ROI, the CEOs acknowledged. "
- Hyperledger Blockchain Project Passes 100-Member Milestone - Coindesk - "Of the six new members, four are based in China. The new members include Beijing Botuzongheng Science & Technology Co, Shanghai Gingkoo Financial Technology, Sinolending and ZhongChao Credit Card Industry Development Co. Two US-based firms – Altoros Americas and the Chamber of Digital Commerce – have also joined."
- Dutch bank launches HCE mobile payments app - NFC World - "Dutch bank ABN Amro has launched a mobile payments app for Android using host card emulation (HCE) technology, allowing customers to make purchases up to €2,500 (US$2,659) each day with smartphones running Android 5.0 or higher."
- Two hackers are selling DDoS attacks from 400,000 IoT devices infected with the Mirai worm - BoingBoing - "Two criminals, Bestbuy and Popopret -- previously implicated in mass-scale corporate espionage -- are spamming the XMPP/Jabber instant messaging protocol with offers to rent out a 400,000-strong botnet of Mirai-infected devices, and the ad promises that their botnet is a significant improvement on the earlier Mirai infections, equipped with IP-address spoofing features that make it harder for the botnet's victims to block the incoming traffic."
ON THE WIRES
- Foundation laid for pan-European instant payment solutions - "As tasked by the Euro Retail Payments Board (ERPB), the European Payments Council (EPC) today finalised the framework for pan-European instant payment solutions. The SEPA Instant Credit Transfer scheme paves the way for innovative payment solutions in euro, for example via mobile phone, from November 2017."
- Consumer-driven payments play an increasing role in merchants' point-of-sale technology adoption. - "ControlScan and the Electronic Transactions Association (ETA) surveyed hundreds of SMB merchants to find out. View the consumer-driven payments infographic below to get point-of-sale technology adoption statistics and to learn the three questions merchant service providers should ask the SMBs they serve."
- Mastercard Rolls out Artificial Intelligence across Its Global Network - "Current decision-scoring products are focused primarily on risk assessment, working within predefined rules. Decision Intelligence is a radical new approach that goes much further. It takes a broader view in assessing, scoring and learning from each transaction. That score then enables the card issuer to apply the intelligence to the next transaction."
- Central banks are monitoring and fostering the development of fast payment services - CPMI - "The development and importance of fast payments services are the focus of a new report by the Committee on Payments and Market Infrastructures (CPMI), the global standard setter for payment, clearing and settlement services."
- TSYS Signs Payments Agreement with Virgin Money - "TSYS (NYSE: TSS) today announced that it has reached a long-term agreement to provide debit processing services for Virgin Money customers within the United Kingdom. Virgin Money previously selected TSYS’ market leading TS2® platform to support its UK cards portfolio."
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!
- Payments Boot Camp - Palo Alto - December 6-7
- Insight Workshop - Palo Alto - Innovation in Payments - December 8
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
- We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Click here to learn more!
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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: firstname.lastname@example.org!