Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!
ON THE WEB
- Inside the Visa / PayPal Partnership
- Payments Views from Glenbrook (Russ Jones) - "After a great deal of speculation, Visa and PayPal (or is it PayPal and Visa?) have announced a partnership where the two companies will “collaborate to accelerate the adoption of digital payments.” The announcement, which was actually more detailed than most partnership announcements, speaks of putting the two companies “on a new path” for the benefit of consumers and merchants."
- Peter Thiel-backed banking startup Number26 rebrands as N26 and becomes an official bank
- Venture Beat - "Number26, a Peter Thiel-backed mobile banking startup that’s setting out to create the bank account of the future, has finally received its banking license, giving the company full regulatory approval to operate across the European Union under its own steam. The company has also announced that it’s changing its name to N26."
- Redbox and Coinstar maker Outerwall agrees to $1.6B buyout from private equity firm
- Geek Wire - "Outerwall, the Bellevue-based operator of Redbox movie rental kiosks and Coinstar coin counting machines, today announced that it has entered into a deal to be acquired by Apollo Global Management for $52 per share in cash."
- The Rewards of Tokenization
- Aaron McPherson - "You see, there’s much more potential in the humble token than just obscuring account credentials. Tokens are pointers to data, which can be more than a PAN (personal account number). A token can also be a pointer to business logic, which can substitute any combination of funding sources for the original authorization."
- The Battle Heats Up in Person-to-Person Payments
- Wall Street Journal - "J.P. Morgan Chase & Co., Wells Fargo & Co. and other large banks recently unveiled their Venmo counterattack: enhancements to a five-year-old joint venture called clearXchange. The bank-owned payments platform has started offering real-time payments as opposed to transactions that take up to three days to settle."
- Banks’ Bet on Consumers is Getting Riskier
- Wall Street Journal - "The higher reserves in part reflect efforts to expand loan volume. As competition for borrowers intensifies, some lenders also are lowering credit-score requirements and taking on riskier customers. But they also stem from a growing conviction that improvements in credit quality have come to an end."
- Ethereum Hard Fork Creates Competing Currencies as Support for Ethereum Classic Rises
- Coindesk - "In addition to touching on whether a blockchain network can or should be "immutable", or provide an unalterable transaction history, the effort has evoked the passions of the bitcoin community, many of whom see it as either a cautionary tale against implementing a hard fork on its network, or in contrast, as evidence such a technical feat can be achieved with limited ramifications."
- Credit Unions and Community Banks Both Face "Shrinkage"
- Bank Lawyer’s Blog - "
According to the NCUA’s statistics at March 31, 2016 the number of federally insured credit unions dropped below 6,000 for the first time in history. This correspondent believes that by 2021 there will be fewer than 600 federally insured credit unions – and they all will be multi-billions in assets because they will have to be large enough to cope with the Dodd-Frank Act’s and the FFIEC’s compliance-driven culture that it is now too-late to stop."
- Third Sector: Charities and the quiet revolution in digital
- fonix - "As the sector begins to get its house in order once again, behind all the media furore a quiet revolution has been taking place, which has recently seen charity donations become the largest market for phone-paid payments."
- Zara parent to begin in-store mobile payments from September
- theindustrylondon - "In both instances, the service will enable online and offline receipts, which will eventually eliminate the need for paper receipts. In addition Inditex says, the new service “aims to significantly simplify the purchase and returns process”. Customers will be able to activate the service directly from the online app, securely adding the payment cards they want to use."
ON THE WIRES
- Vantiv Launches All-in-One Developer Network for Smarter, Faster and Easier Payments Integration
- "Vantiv, Inc. (NYSE: VNTV), a leading provider of payment processing services and related technology solutions for merchants and financial institutions of all sizes, launched Vantiv O.N.E., One Network Experience, today to provide software developers a best-in-class destination for integrating payments into their applications for mobile, in-store and online processing. "
- Strategic Agreement between Bancolombia and First Data: the Arrival of New Commerce Solutions for Colombian Business Owners
- "The companies will focus on building commerce technology solutions for merchants and facilitating access to the banking system, offering advanced technology and secure, efficient transactions. First Data and Bancolombia will bring the latest payments innovations from Europe and the United States to the Colombian market, including best-in-class eCommerce and business management solutions."
- Societe Generale Acquires a Stake in the Fintech TagPay to Develop Mobile Banking in Africa
- "TagPay is a Core Banking System built around the mobile phone, from basic feature phones to smartphones. The TagPay solution has several competitive advantages in terms of speed of deployment as well as a rich catalogue of financial functions and services. It enables banks to reach unbanked populations while capitalizing on the growing digital banking market. The TagPay solution has a unique position in the digital banking market as it is one of the only FinTechs to cater to basic mobile phones, which are still widely used in emerging countries. "
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: firstname.lastname@example.org!