Payments News from Glenbrook Partners
Glenbrook   Book   Education   Views   Archives   Store   Advertise   About         SUBSCRIBE:

« July 3, 2016 - July 9, 2016 | Main | July 17, 2016 - July 23, 2016 »

July 15, 2016

Headline News from PaymentsNews.com - July 15, 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

  • Wallet War: Banks, Stores Slug It Out With Phone-Pay Apps - Wall Street Journal - "Payment choices range from Wells Fargo & Co., which will launch its mobile-payment application nationwide on Monday, to Cheesecake Factory Inc., which lets diners pay with their phone at the table with an app called CakePay. Wal-Mart Stores Inc. in late June expanded the rollout of its new payment mechanism that is contained within its shopping app."
  • You can’t have financial inclusion without digital inclusion - Tech Crunch - "Of the unbanked population, 1,5 billion people are unbanked due to their inability to prove their identity through a valid birth certificate, passport, proof of residence through utility bill or some other means to fulfil traditional KYC-procedures."
  • The privacy of mobile money users is under threat as the Kenyan taxman chases new revenue - Quartz - "The Kenyan taxman is seeking unfettered access to private mobile money transaction records in bid to identify tax cheats who use the platform. Currently only possible through a court order, the Kenya Revenue Authority (KRA)’s sights are set on the multi-billion dollar informal sector, which has traditionally been elusive but uses mobile money to comfortably transact money at every turn. "
  • IBM Moves Blockchain to the Supply Chain Realm - Wall Street Journal - "Startup Everledger, which helps companies track the provenance of diamonds worldwide, is testing IBM Blockchain."
  • Mastercard issues first brand change in 20 years, and Masterpass is now contact-less - Digital Trends - "With its new in-store contact-less solution, Mastercard says people can use Masterpass at more than 5 million merchants in 77 countries that accept contact-less payments, such as BJ’s Wholesale Club. The contact-less feature with Masterpass is first arriving to Android devices in the U.S. towards the end of July."
  • 15 Payment Options Every Small Business Should Consider - Inc. - "Thanks to a the increasing advancements in tech, your global customers have multiple ways to complete transactions with your business. While there are hundreds of options out there, here are 15 recommendations to get you started."
  • BNP's Ex-Blockchain Lead is Now Coding Smart Contracts for Clearinghouses - Coindesk - "Even if centralized clearinghouses are eventually built into or replaced by a blockchain, some services will inherently require the aid of a middleman, according to Collin Platt, the former lead blockchain developer at BNP Paribas who earlier this year launched his own blockchain startup to test this market thesis."
  • European consumers want biometric payments - SecureID News - "New research from Visa shows that 73% of consumers across Europe are interested in using biometric payments – especially when integrated with other security measures. Nearly three-quarters see two-factor authentication, where a biometric is used in conjunction with a payment device, as a secure way to confirm an account holder."
  • PSD2 Irresistible March Toward Global Empowerment - FIS blog - "The flipside of PSD2 is the empowerment of consumers; now consumers own their personal information. Banks are obliged to open up their systems to give PSPs access to account information to facilitate transactions requested by their customers. It is the consumer – not the bank – that controls who can access account information and who can initiate transactions on their behalf."

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 - 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.

COMING UP IN ATLANTA TODAY, FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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!

July 14, 2016

Headline News from PaymentsNews.com - July 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

  • You Recognize Mastercard. So Why Is It Changing Its Logo? - Wired - "Change is also constant. Like many 21st-century financial institutions, Mastercard’s business is about more than credit cards. It’s also an online payment platform, a digital wallet, and a technology company. So the branding has to be flexible, too. "
  • Android Pay launches in Australia, but ANZ is the only big four bank signed up - Australian Financial Review - "While the service is expected to have a faster adoption rate than Apple Pay, the lack of any of the other major banks on launch is a surprise, after Westpac had earlier pledged to be coming on board."
  • USAA spotlights in-app voice commands, streamlining mobile deposits - Mobile Commerce Daily - "Financial services brand USAA has rolled out a new feature within its mobile application enabling consumers to leverage voice commands to complete tasks such as depositing a check and transferring funds, a tool that will be beneficial for visually impaired users."
  • PBOC Probes China’s Tencent Over Mobile Payments - Wall Street Journal - "China’s central bank is looking into a complaint against Tencent Holdings Ltd. that alleges the internet giant hasn’t abided by new security regulations required for mobile payments on its messaging platform."
  • Blockchain-based banking backend Vault OS from ex-Googler emerges from stealth mode - TechCrunch - "The bombastic press release announcing the system’s emergence from two years of stealth development makes a lot of promises: the company “has solved the greatest challenge in fintech;” Vault OS is “100% future-proof,” “hugely flexible,” and “fixes broken banking forever.” Whether Vault OS is able to live up to its own hype is a question that will have to wait (legacy banking systems aren’t replaced overnight) — but it’s hard to deny that the problem is real and the solution, or at least what the company reveals of it, is compelling."
  • IBM Unveils New Cloud Blockchain Security Service - Coindesk - "Dubbed the IBM 'secure blockchain cloud environment', the service is actually an integration of IBM’s existing blockchain cloud offering and IBM LinuxONE, a Linux server designed to protect against 'back doors' the company argues could occur in other cloud-based blockchain networks."
  • Verifone Appathon to Debut in Silicon Valley - Verifone Blog - "Verifone will host its inaugural appathon on August 3-4, 2016 at GSVlabs in Redwood City, California, to engage 3rd party developers to build applications on the Verifone Commerce Platform. "
  • UK Startup Bridges Store And Mobile With Real-Time Inventory Data - Retail TouchPoints - "Retailers can set up NearLive to reveal their real-time inventory to shoppers who are conducting ‘near me’ searches on their phones and researching products online. "

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 - 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.

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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!

July 13, 2016

Headline News from PaymentsNews.com - July 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

  • Square is guilting us into tipping basically everyone - Quartz - "If you’ve paid with your credit or debit card at a food truck or local independent coffee shop in recent years, you’ve probably been confronted by the rounded, white Square terminal—and text asking if you’d like to tip a percentage of your total, perhaps 15%, 20%, or 25%. Moment of truth. “No tip” is an option too, of course."
  • Dutch Central Bank Prepares its Boldest Blockchain Experiment Yet - Coindesk - "If hackers were to go through the trouble of taking down two or three data centers they would take down the financial markets infrastructure. With blockchain, you could distribute the nodes and you might not even know where they are."
  • Best Buy drives 1M store visits with mobile content, local ads - Mobile Commerce Daily - "“It is almost immediate how quickly transitions are happening and how deeply ingrained in consumer minds it is that these devices literally move you from the digital to the physical world. But once in store the behavior doesn’t stop,” said Jonathan Alferness, vice president of Google Shopping & Travel. “We see people continue to use search.”"
  • Blockchain puts a Bitcoin bank in every pocket - GET PUT POST - "Frankly, there are going to be different delivery models for financial services using digital money. We truly believe that being able to be your own bank is the most important value proposition of Bitcoin. We continue to honor that original vision of the protocol and the technology."
  • Killing the password: FIDO says long journey will be worth it - CSO - "The solution to such a porous “security” standard is to get rid of it, according to FIDO. But the Alliance, which describes itself as a “cross-industry consortia,” has to do more than convince experts or even web content providers. It has to convince users – the ones who are familiar and comfortable with passwords and who can display irrational amounts of resistance to change."

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 - 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.

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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!

July 12, 2016

Headline News from PaymentsNews.com - July 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

  • Bank Cyber Attacks Said to Prompt Fed to Prepare New Safeguards - Bloomberg - "U.S. regulators plan to require banks to adopt baseline safeguards to shield themselves from cyberthreats after a series of assaults cost the industry billions of dollars and shook consumer confidence, said people with knowledge of the matter."
  • American Sees $1.55 Billion Boost From Citi, Barclays Card Deals - Bloomberg - "American, the world’s largest airline based on passenger traffic, said it expects the dual arrangement to provide higher growth in credit-card customers than a traditional accord with a single provider. The airline also announced that all new cards tied to its AAdvantage loyalty program will carry the MasterCard brand from now on."
  • LendingClub’s Newest Problem: Its Borrowers - Wall Street Journal - "From loans made in 2013 through the first quarter of 2015, gross charge-offs of LendingClub’s lower-graded loans a year after issuance jumped to 6.31% from 4.58%, an increase of 38% or 1.73 percentage points. "
  • Central Bank Issues New Guidelines to Improve Safety of Online Payments - Caixin Online - "PBOC wants third-party payment services to use at least two methods to verify a person's identity before a transaction and follow a new encryption method to prevent data leaks."
  • EMVCo and the FIDO Alliance Collaborate on Mobile Payment Authentication - FIDO Alliance blog - "A Memorandum of Understanding (MoU) has been signed by the two bodies to guide evaluation and determine how and when payment use cases provided by EMVCo could be incorporated into the FIDO Alliance’s technical standards. Initial activities will explore how FIDO’s authentication protocol can be used to support EMVCo’s cardholder verification technology. "
  • 'Sin' Activities No Longer Drive Bitcoin Economy, Researchers Find - Coindesk - "Our results suggest that some recent concerns regarding the use of bitcoin for illegal transactions at the present time might be overstated, and that whatever such transactions may exist could further diminish as the bitcoin economy continues to mature."
  • MasterCard incentivizes Samsung Pay usage with free concert tickets - Mobile Commerce Daily - "MasterCard highlighted some of the benefits stemming from Samsung Pay usage by rolling out a limited-time promotion this past weekend. The financial marketer sponsored ads on Twitter, Facebook and Instagram to alert consumers of the opportunity to win exclusive concert tickets simply by visiting a designated café and buying a snack with Samsung Pay."

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 - 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.

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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!

July 11, 2016

Headline News from PaymentsNews.Com - July 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

  • Surviving the Emerging Payments Providers - Take on Payments (Atlanta Fed Retail Payments Risk Forum blog) - "Predictions abound that emerging companies will dominate the remittance and person-to-person (P2P) payments space and financial institutions will be relegated to being a bystander. While I am not sold on their eventual dominance, I do think that emerging companies are creating positive changes. "
  • Bitcoin Price Climbs Over 50% in First Half of 2016 - Coindesk - "Bitcoin and ether prices both climbed during the first half of this year, as a number of factors – including rising adoption, yuan devaluation, the 'Brexit' and anticipation surrounding the halving of bitcoin's mining reward – helped the two digital currencies rise in value."
  • Updates to 3D Secure - Braintree blog - "We’ve been working on improvements to our 3D Secure offering and we’re excited to announce the latest updates. 3-Domain Secure (3DS) -- also known as Verified by Visa or MasterCard SecureCode -- is a service offered by card brands which allows cardholders to add a layer of security to e-commerce transactions. "
  • Visa’s Dubai innovation centre to focus on digital payments - Compueter Weekly - "The Dubai facility has been designed to replicate the success of Visa’s flagship One Market innovation centre in San Francisco and the Asia-Pacific innovation centre it opened recently in Singapore."
  • NFC Mobile Payments Increase Tips (And Other Highlights from #PayFasterPortland) - Square blog - "NFC mobile payments are fast—they happen near instantaneously. And as it turns out, they’re also better for tips. Customers who used their NFC device or EMV chip card with Square's contactless and chip reader tipped more than customers who used traditional magstripe cards."
  • Anonymization and the Law - Schneier on Security - "Perfect anonymization of data sets has failed. But the process of protecting data subjects in shared information remains integral to privacy practice and policy. While the deidentification debate has been vigorous and productive, there is no clear direction for policy. "
  • How machine-to-machine technology works for retailers - Mobile Commerce Daily - "Beacons use Bluetooth Low Energy (BLE) technology to create a wireless personal area network for transmitting data over short distances while consuming so little energy that a coin-sized battery could last three years. This technology has the potential to significantly change the way that brands and retailers will connect with consumers."

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 - 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.

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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!

Sponsors

News View

Payments Consultants

Subscribe

Languages