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July 22, 2016

Headline News from PaymentsNews.com - July 22, 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

  • PayPal Strikes Partnership With Visa - Wall Street Journal - "PayPal Holdings Inc. is coming to the checkout line. The online-payments provider has struck a deal with Visa Inc., announced Thursday by the two companies, that will make paying with PayPal an option when people pay in stores with their smartphones."
  • Mastercard Buys Most of Britain’s VocaLink for $920 Million - Bloomberg - "VocaLink primarily processes non-card electronic payments in the U.K., where the company generates more than 90 percent of its revenue. The firm is developing a faster system for the bank-owned automated clearing house payments network in the U.S., a capability that would allow Purchase, New York-based Mastercard to better compete in the growing business-to-business and person-to-person payments markets."
  • Could India Be the First to Get Rid of Cash? - Bloomberg Views - "But there’s good reason to suppose that cashless payments could be adopted much faster in India than elsewhere. It’s the classical example of leap-frogging. India’s many poor people and migrants still struggle to access its chronically inefficient banking system, despite the government's efforts at reform. If presented with an easy and frictionless way of transferring cash, there's no reason to think consumers wouldn't embrace it quickly -- just as most Indians skipped fixed-line telephony to go straight to mobile phones. Smartphone penetration is increasing faster in India than anywhere else in the world."
  • M-commerce: has the mobile web finally won? - Search Engine Watch - "Not only are more smartphone users purchasing with their mobile devices, but more people are choosing to make those purchases via mobile web rather than via mobile apps."

ON THE WIRES

  • Yardi and BluePay Collaborate for Faster, Easier Canadian Rental Payments - "Under the partnership, BluePay will work with Yardi Voyager® and RENTCafé® to process credit card, debit card and PAD payments made by residents of multifamily and condominium units, as well as commercial property tenants. BluePay will process payments and post deposits to property managers’ bank accounts “invisibly,” and landlords will receive the funds within hours."

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.

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 21, 2016

Headline News from PaymentsNews.com - July 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

  • PayPal ticks up 2% on earnings, Visa partnership - Tech Crunch - "The new partnership with Visa, emphasized that they will be collaborating more and will make it easier for customers to move money from their PayPal account to their bank accounts using their Visa debit card. The partnership also means that PayPal digital wallet payments will be accepted at retail locations that facilitate Visa contactless payment transactions. "
  • Wells Fargo officially launches mobile wallet for Android users - Charlotte Business Journal - "The San Francisco-based bank officially launched its mobile wallet for Android users Monday. The wallet is integrated into Wells Fargo’s mobile app on Android phones. Users tap the Wells Fargo Wallet banner in the app, select the card and hold the phone near a merchant’s card reader."
  • PayPal May Unveil Accord With Visa on Data Sharing, Analysts Say - Bloomberg - "PayPal Holdings Inc. and Visa Inc. may unveil an agreement regarding data sharing, security measures and consumer choices on accounts linked to PayPal transactions, analysts said ahead of the companies’ earnings reports."
  • Amazon Tip-Toes Into Banking Business - Wall Street Journal - "Amazon.com Inc. is stepping into the student-loan marketplace. The online retailer has entered into a partnership with San Francisco lender Wells Fargo & Co. in which the bank’s student-lending arm will offer interest-rate discounts to select Amazon shoppers."
  • Ethereum Executes Blockchain Hard Fork to Return DAO Funds - Coindesk - "The much anticipated hard fork of the ethereum blockchain has been implemented, giving those building on the decentralized application network at least the potential for stability after weeks of controversy and sometimes terse disagreements in the wider community."

ON THE WIRES

  • PayPal and Visa Enter Partnership to Extend Consumer Payment Choice - "The partnership puts PayPal and Visa on a new path, with the companies working more collaboratively to accelerate the adoption of safe, reliable and convenient digital payments for consumers and merchants. Further, the arrangement is designed to carry significant benefits for issuing financial institutions, acquirers, and merchants. For issuing institutions, these include a better customer experience, more spending volume on their credit and debit cards, lower operational costs, and improved security. Merchants will also benefit from the improved customer experience, efficiency, and security, which together will help drive increased sales."
  • MasterCard Announces Acquisition of VocaLink - "MasterCard Incorporated (NYSE:MA) today announced that it has entered into a definitive agreement to acquire 92.4 percent of VocaLink Holdings Limited for about £700 million (approximately US$920 million), after adjusting for cash and certain other estimated liabilities. VocaLink’s existing shareholders have the potential for an earn-out of up to an additional £169 million (approximately US$220 million), if performance targets are met. This transaction is subject to regulatory approval and other customary closing conditions."
  • Verifone Launches Curb in Five New U.S. Cities - "Now live in 65 cities, Curb connects to more than 50,000 taxis, and is used by 100,000 professional taxi drivers. Among its many benefits, Curb offers quick and easy ride-hailing from any iOS or Android smartphone, automatic e-payment with digital receipts, and predictable metered fares with no surge pricing."
  • ISACA Challenges Mobile Payment Security Perceptions - "New guide shows mobile security advantages over traditional payment methods"
  • Aquarium Software and WEX Announce New Virtual Payments Agreement for Niche Insurance Payments - "WEX Inc. (NYSE: WEX), a leading provider of corporate payment solutions, today announced a new virtual payments agreement with global insurance technology provider Aquarium Software. Aquarium specializes in developing solutions for niche insurance sectors including pet, travel and gadget. With the agreement in place, WEX is increasing its presence in the insurance payment space in both Europe and the US; this is the first insurance for the company’s European entity."

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.

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 20, 2016

Headline News from PaymentsNews.com - July 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

  • Mizuho to Conduct Blockchain Payments Trial with Ripple - Coindesk - "The trial will find the Japan-based financial services firm and R3 member, along with SBI Holdings, using Ripple's payment solutions to explore how cross-border payments could be conducted between the financial institutions. R3 will act as the consultant on the project."
  • First National Bank jumps into mobile banking with corporate-facing app - Mobile Commerce Daily - "First National Bank of Pennsylvania is optimizing its banking services for mobile with a new application that allows clients to receive push notifications regarding account activity and approve time-sensitive fund transfers for their organizations."
  • UBA and Mastercard Announce Pan African Partnership - Pasyments Afrika - "United Bank Africa (UBA) and Mastercard have announced a partnership which will see UBA act as the issuer for MasterCard in 18 new markets in Africa. The partnership which came into effect in the second quarter of 2016 will see UBA issue Mastercard credit, debit and prepaid cards across these markets."
  • Point-Of-Sale Attacks Still Going Strong But The Reason Isn’t What You Think - Point of Sale News - "The issue arises because most businesses aren’t considering the fact that POS systems are just one link in the chain. They are largely leaving their networks vulnerable because once they hear the word “compliant,” many assume they are also secure. "
  • GSMA unveils solution for online authentication via mobile nos - The Times of India - "Simply put, the solution uses an individual's mobile number for authentication, enabling them to digitally confirm their identity and access mobile and digital services. In effect, Mobile Connect works by employing the users' unique mobile number combined with a unique PIN (for more secure cases), to verify and grant online access."
  • A resolution calling for a pro-bitcoin national policy was just introduced in Congress - Coin Center blog - "It’s important to note that a House Resolution, if passed, only sets forth the sense of the House of Representatives (and not necessarily the Senate) about what kind of policy the federal government should adopt, either through future legislation or through agency rule-making. It’s not binding and it’s not specific, but it is a good way for the House to communicate in what direction it would like to see government policy move."
  • Software flaw puts mobile phones and networks at risk of complete takeover - Ars Technica - "Dan Guido, an expert in cellular phone security and the CEO of a firm called Trail of Bits, agreed that the vulnerability will be hard to exploit. But Moore also described ASN.1 as the "backbone" of today's mobile telephone system. Even in the absence of working code-execution capabilities, attackers could use exploits to trigger denial-of-service outages that could interrupt key parts of a network or knock them out altogether."

ON THE WIRES

  • EMV Migration Forum Changes Name to US Payments Forum, Expands Focus to Additional Emerging Payments Technologies - "To provide expanded support for the payments ecosystem, the EMV Migration Forum today announced that it will change its name to the U.S. Payments Forum. The U.S. Payments Forum will continue to support the chip migration while also broadening its focus to other new and emerging payments technologies in the U.S."
  • UnionPay International Accelerates the Localization of Its Overseas Business--UnionPay cards are gaining popularity among overseas customers - "UnionPay International is accelerating its localization overseas by enlarging card-issuing scale abroad, and by supporting overseas cardholders' card-using in the local market, China and other countries and regions. Latest data show that, by this June, the transaction volume of overseas-issued UnionPay cards has grown by about 40% year-on-year, well above that of domestically-issued UnionPay cards in overseas markets. The transaction volume of overseas-issued UnionPay cards takes up about half of UnionPay's international business."
  • ModusLink Simplifies Subscription and Payment Processing for High-Growth E-Commerce Companies - "The platform-agnostic solution, powered through ModusLink’s enterprise-class Poetic™ software, is the only global full omni-channel offering for creating and managing online subscriptions. It includes functionality such as multiple payment options, financial management and tax services, entitlement management, systems integration, invoicing and fulfillment – all in one, fully-integrated solution."
  • GC Express Customers Get Perks for Paying with Smartphones at the Pump - "GC Express, a gas station in Caro, Michigan, is now offering a free coffee or fountain drink to customers paying with the Team One Credit Union Mobile Banking App on their smartphones for fuel purchases of $10 or more. Consumers can use the mobile app to pay at the pump as a result of GC Express' implementation of the AnyWhereMobile payment service from MShift Inc., which is seamlessly integrated in-store and at the pump with Verifone Commander Site Controller."
  • CardFlight Releases the Latest Trends on EMV Chip Card Usage in the U.S. - "CardFlight, a mobile point of sale (POS) technology provider, released the latest edition of their EMV Migration Tracker with new data and trends covering EMV chip card usage in the U.S. The report shares insights on EMV chip card use among cardholders and merchants in the United States since the October 1, 2015 liability shift."

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.

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 19, 2016

Headline News from PaymentsNews.com - July 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

  • Central Bank Digital Currencies Could Boost GDP, Bank of England Says - Coindesk - "The conclusions were drawn from a working paper published today that examined how a central bank-backed digital currency (referred to as a CBDC in the paper) could yield macroeconomic benefits, while providing banking regulators a clearer picture of the financial system."
  • JPMorgan: Blockchain Tech is an ‘Opportunity’ for Asset Managers - Coindesk - "Revenue opportunities will grow out of the improved data sources, greater liquidity and lower frictional costs fostered by blockchain. Asset managers will be able to serve clients in new ways, for example, with real-time reporting or alternate trading strategies."
  • Mobile money giant M-Pesa is getting its own debit card to compete with banks - Quartz - "Safaricom, parent of the M-Pesa mobile money platform, is eying a piece of the $13.5 billion in annual transactions in Kenya’s payment cards industry with a new debit card. In its pilot stage, the new card, which is largely expected to challenge commercial banks for card commissions, is linked to its Lipa na M-Pesa (pay with M-Pesa) service, which enables traders and individuals to settle bills at different points of sale across the country."
  • The Platformification of Banking - The Financial Brand - "A platform is a plug-and-play business model that allows multiple participants (producers and consumers) to connect to it, interact with each other and create and exchange value."
  • Grab revitalizes mobile ordering for travelers with expansion across 80 airports - Mobile Commerce Daily - "Ecommerce platform Grab has joined forces with travel dining provider HMSHost to enable more airport travelers to order food and beverages via their smartphones from the latter’s restaurants, underscoring mobile’s growing integration within travel hubs."
  • The Experience Matters: 3 Takeaways From Consumer Card Spending - Retail Touch Points - "We show an assortment of categories in the Chart of the Month and observe the following themes: softness in housing-related items; continued shift away from department stores and teen and young adult clothing; strength in sporting goods; and an increase in spending on travel and restaurants," noted Michelle Meyer, a U.S. economist for Bank of America Merrill Lynch Meyer, in a note to clients."
  • Criminals plant banking malware where victims least expect it - Ars Technica - "A criminal gang recently found an effective way to spread malware that drains online bank accounts. According to a blog post published Monday, they bundled the malicious executable inside a file that installed a legitimate administrative tool available for download."
  • What’s Fintech? Nasdaq and KBW Offer an Answer With New Index - Wall Street Journal - "Here is Exhibit A for those who think “fintech” is overhyped and for those who think it is just getting started: A new stock index."

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.

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 18, 2016

Headline News from PaymentsNews.com - July 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

  • Payments on Fire Podcast: Sensibill – Redefining Digital Receipts for FIs - PaymentsViews.com - "This Payments on Fire podcast looks at Sensibill, a digital receipting and data repository service for FIs. Join Glenbrook’s George Peabody and Sensibill’s CEO and co-founder Corey Gross in this discussion of how an FI can help its accountholders turn digital receipts into data far more useful than what’s on a statement or that piece of paper stuffed into a purse or wallet."
  • Paying With Cash Hurts. That’s Also Why It Feels So Good. - New York Times - "When people pay for items using cold, hard cash rather than by card or online, they feel more of a sting and therefore assign more value to the purchase, according to Avni M. Shah, an assistant marketing professor at the University of Toronto Scarborough."
  • Wal-Mart Makes Good on Vow to Ban Visa Cards in Thunder Bay - Bloomberg - "Thunder Bay, a port city of about 120,000 people on the northern shore of Lake Superior, is the latest battleground over credit-card fees for the Bentonville, Arkansas-based retailer. Wal-Mart’s Canadian unit has threatened to expel Visa from all 405 of its stores nationwide unless the network agrees to lower the amount it charges for credit-card transactions."
  • Baidu invests in ZestFinance to develop search-powered credit scoring for China - Tech Crunch - "Baidu has made its second investment in a U.S. fintech company inside a month after it put an undisclosed sum of money into ZestFinance, a big data firm specializing in credit scoring. Baidu, which operates China’s dominant search platform, took part in a $60 million round for payments firm Circle in June."
  • Fast fashion e-commerce is at the cusp of breaking out - Medium - "Online shopping wasn’t as much fun a decade ago because a lot of customer needs that were met in the physical world were not met in the online world. That changed. However, the needs for fast fashion shopping are more nuanced and it is only now that those needs can be met online. "
  • Citi CEO Says He’s Focused on Fixing Costco Credit-Card Woes - Bloomberg - "We experienced extremely high calling volumes in the early implementation of it,” Chief Executive Officer Mike Corbat said in a conference call with analysts Friday after the company reported second-quarter results. “Questions around card activation, questions around statements, questions around where to send payments, and so we’re working through that. We’re gaining on it. We’re very focused on it."

ON THE WIRES

  • Payment Community Engagement in the Development of the EMV Specifications Increases - "EMVCo, the global technical specification body, today reports that participation in its Associates Programme has increased significantly over the past twelve months. Twenty-five new organisations have joined the programme, which enables them to actively participate in discussions to manage and evolve existing and future EMV® Specifications for payment technologies."
  • First Data Expands into Sports and Entertainment Industry with Bypass Collaboration - "First Data (NYSE: FDC), a global leader in commerce enabling technology, and Bypass, an innovator in enterprise point-of-sale systems, are working together to deliver a modern, comprehensive payments solution for sports arenas and concert venues. This unique collaboration blends First Data’s innovative Clover® family of point-of-sale devices and business management tools with Bypass’s revolutionary cloud-based software and back office management tools. "
  • Western Union Announces Enhanced Innovation to Support Global Trade: Technology Creating Borderless Economies for SMEs - "Upon launch, the new fee-free* network payment feature will expand to 51 currencies across 13 countries, with the speed of cross-border payments also increasing to allow transferring funds from buyers to sellers on the WU EDGE platform within minutes. Kerry Agiasotis, President of Western Union Business Solutions, said, “Buying and selling overseas has never been easier, it’s now possible to make an international business payment in minutes.” "
  • Experian publishes five global business trends that will help senior executives protect their growth ambitions against rising fraud threats - "Experian has published its first annual global fraud report covering the convergence of growth strategies and fraud prevention. The report, Global Business Trends: Protecting Growth Ambitions Against Rising Fraud Threats, is designed as a guide for senior executives and fraud prevention professionals, offering new insights on how the alignment of strategies for business growth and fraud prevention can help a business grow revenues while managing risks in an increasingly virtual world."

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.

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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