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September 02, 2016

Headline News from PaymentsNews.com - September 2, 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

  • The Company Quietly Handling Your Online Purchases - Bloomberg - "Adyen processed $50 billion in transactions in 2015, and has become Silicon Valley’s payment system of choice."
  • Ad-blocking browser Brave launches payments, so you can support sites with cash, not ad clicks - Tech Crunch - "The ad-blocking web browser Brave, co-founded by Mozilla’s former CEO Brendan Eich, is today rolling out its grand experiment “Brave Payments,” which will encourage web users to reward their favorite sites by automatically and anonymously sending them Bitcoin-based micropayments. The idea here is fairly radical — online publishers have always relied on ad revenue to fund their sites, but Brave believes they would be happy to go ad-free if people were willing to fund them directly."
  • Visa Incubator to Test Blockchain for Interbank Payments - Coindesk - "Visa’s London-based innovation lab has announced its latest blockchain trial will focus on interbank payments. Visa Europe Collab revealed today it has partnered with Toronto-based BTL Group to explore how the startup’s interbank settlement system can leverage blockchain and smart contracts to streamline domestic and cross-border payments between banks."
  • Microsoft Launches Smart Contracts Security Working Group - Coindesk - "Microsoft has revealed it is organizing a working group dedicated to improving smart contracts security. Named 'Kinakuta', the group aims to make it easier for the industry to share information and tips about smart contracts, the term that somewhat loosely has come to refer to self-executing blockchain-based code."
  • The Traditional Customer Journey No Longer Exists - Mediumhttps://medium.com/@ProphetBrand/the-traditional-customer-journey-no-longer-exists-efac2d4088ce#.9v04d7fj3 - "Customer experience used to have a clear beginning, middle and end. And most customers followed a similar path. But traditional customer journeys no longer exist. Today, these experiences are non-linear, unpredictable, and shared; and only a few companies are taking advantage of this new reality. "

ON THE WIRES

  • PSCU and Glenbrook Release White Paper: Blockchain and the Credit Union: The Asset Transfer Revolution - "PSCU, the nation’s leading Credit Union Service Organization, and Glenbrook Partners, a payments industry strategy consulting and research firm, have collaborated on a white paper on blockchain technology and its potential for credit unions. The newly released white paper is now available for download online. Anyone interested in taking a deeper dive into the research can participate in a webinar on October 5."
  • Boku Raises $13.75 Million in Further Venture Funding - "Boku, the world’s largest direct carrier billing mobile payments company, is pleased to announce that it has secured $13.75 million in further venture funding to expand carrier billing across numerous carrier connections in developed and emerging markets around the globe."
  • Givex Launches Online Gift Card Customization for Small Business - "Givex, the proven platform for customer engagement and operational efficiency since 1999, announced today the launch of its latest innovation – an online gift card purchasing site and card builder for small businesses."

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!

September 01, 2016

Headline News from PaymentsNews.com - September 1, 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

  • HSBC and GE go digital to fight rivals - Mobile World Live - "“If we don’t respond, we’ll have non-banks like Tencent, Alibaba and others moving in and taking our market share. Fin-techs are biting at our margins and we need to respond.” West said the bank aims to eliminate paper, improve the customer experience, improve controls and reduce costs. He predicts that in five years there will be no paper used at the bank and no more passwords, which are a major pain for customers."
  • Nigeria’s Central Bank is backtracking on plans to ban operators disrupting remittances - Quartz - "But almost a month later, the bank has seemingly reversed its decision. Adopting less stringent guidelines from 2014, the bank has issued licenses to eleven new MTOs. The bank says the change in tack is part of efforts to “liberalize the foreign exchange market, ensure liquidity and make foreign exchange more readily available to low end users.” "
  • Now You Can Earn Free Uber Rides By Shopping At Local Stores - Fast Company - "A new rewards program from Uber and Visa is kind of like earning air miles, except you get free Uber rides. "
  • Google Said to Tie Up With MUFG on Android Pay Mobile Payments - Bloomberg - "Starting as early as Japan’s autumn, users of certain Android-based mobile phones will be able to use MUFG’s debit cards for transactions made through Android Pay, the person said, asking not to be identified because the matter is private."
  • Xiaomi introduces mobile payment solution Mi Pay with support for cards from 20 banks in China - Android Police - "Chinese users with a Xiaomi phone will have one more option now: Mi Pay. Launching today with China UnionPay, a large payment network similar to Visa and Mastercard, Mi Pay supports credit cards from 20 banks and debit cards from 12, including Bank of China, Industrial and Commercial Bank of China, China Construction Bank, Bank of Communications, and China Merchants Bank, as well as public transportation cards from six cities (that's another known payment method in China). The Mi Wallet app can tie up to 8 cards to one Xiaomi device and its users will also benefit from promos and rewards."

ON THE WIRES

  • China Union Pay Audio Bank Cards- Qilong and China Union Pay Will Jointly Issue Audio Bank Cards - "The card holders will be able to use their Audio Bank Cards directly on traditional phones, smart phones, computers and tablets. The Audio Bank Card can function as a regular bank card as well. Its audio recognition system greatly advances the safety of making payments and reduces the risks associated therewith. An end user may simply follow three steps to complete a transaction: 1) choose an Audio Bank Card to make the contemplated payment, 2) press the button on the card to help the back desk recognize the card, and 3) enter the passcode to complete the transaction. The Audio Bank Card will simplify the payment process and therefore save users' time. "
  • Kimpton Hotels & Restaurants Notifies Customers of Payment Card Incident - "Findings from the investigation show that malware was installed on servers that processed payment cards used at the restaurants and front desks of some of our hotels. The malware searched for track data read from the magnetic stripe of a payment card as it was being routed through the affected server. The malware primarily found track data that contained the card number, expiration date, and internal verification code, but in a small number of instances it may have found the track that also contains the cardholder name. "
  • Blackhawk Network to Acquire Grass Roots Group - "United Kingdom-based provider of employee engagement and customer engagement services will expand Blackhawk's growing incentives business portfolio"
  • New Digital River White Paper, "The Subscriptions Generation," Guides Companies Shifting to an Online, Global Subscriptions Strategy - "The white paper explores how the consumer’s growing desire for access over ownership is creating a shift in online purchase preferences and explains how brands can capitalize on this trend by taking a subscriptions business global."

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!

August 31, 2016

Headline News from PaymentsNews.com - August 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

  • News: Walmart pay exceeding expectations - The Wise Marketer blog - "More evidence that retailers are winning the battle for mobile payments loyalty through homegrown platforms: in his kickoff address at last week's CONNECT Mobile Innovation Summit in Chicago, Walmart Services SVP Daniel Eckert revealed that Walmart Pay, the retailer's proprietary mobile payment app, already boasts 20 million active users in the two months since its June launch across its 4,600 US stores."
  • Insurance Giant MetLife Joins R3 Blockchain Consortium - Coindesk - "In the latest sign that the insurance industry is embracing blockchain and distributed ledgers, MetLife has announced it will join banking consortium R3CEV."
  • Huawei Pay Mobile Payment Service in Collaboration with UnionPay Launched in China - Phone Radar - " Instead of getting a new license, the company opted to collaborate with Union Pay. By the time of launch, Huawei Pay supports 25 banks and also the travel card for buses. The Huawei Mate S launched at IFA 2015 is the first Huawei device to support mobile payments. It came included with NFC, Fingerprint sensor and built-in security chip."

ON THE WIRES

  • QikServe and FreedomPay Address the EMV Challenge in Hospitality - "QikServe's patented 'Waiter in Your Pocket' technology lets guests order and pay for their food and drinks directly from a smartphone, web site or kiosk. The integration with FreedomPay's Commerce Platform enables QikServe to quickly deploy mobile ordering solutions that require traditional and emerging payments technologies like magstripe, EMV, ApplePay and near-field communication (NFC)."

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!

August 30, 2016

Headline News from PaymentsNews.com - August 30, 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

  • Merchants Just Want to Sell Stuff - Payments Views (Glenbrook’s Allen Weinberg) - "Anyone who’s been in a Glenbrook Payments Boot Camp session with me has heard me emphatically stress that merchants “just want to sell stuff – they don’t want to be in the payments business”."
  • Aadhaar-Based Cash Transfers: Promising Reform, but More Data Needed - Center for Global Development - "India’s shift towards direct benefit transfers (DBTs) is on the fast track. According to official statements, in the 2015-16 fiscal year the central government deposited nearly $5 billion of subsidy and welfare payments directly into the bank accounts of 300 million beneficiaries. It has also set an ambitious target to transfer all payments to the Aadhaar-based biometric DBT platform by the end of 2017. This will surely be the greatest subsidy reform in the world, but we need more data to accurately evaluate its impact."
  • Why Walmart Pay Doesn’t Measure Up To CVS, Starbucks And Taco Bell - Bryan Pearson blog (Forbes writer) - "Rewards, frequency, fringe benefits. Of all the features that describe a trip to Walmart, these are not high among them. Yet they may form the backbone of a successful retail payment app. Early reports indicate Walmart Pay, which launched nationally July 6 following seven months of testing, is struggling to get traction. The absence of these elements may be why."
  • How Same Day ACH Can be Advantageous for Small Businesses - Pay Simple Blog - "If your business does use ACH, you’ve probably heard rumblings about “Same Day ACH” which has been in the news recently as the date for initiating Phase 1 of the program approaches. That date is September 23, 2016. For consumers and businesses alike, it means the ability to move money faster, which is in most cases a good thing. But, will Same Day ACH help your small business operate more efficiently? If your business can benefit from sending and receiving funds more quickly, and the benefit warrants paying a premium for it, then Same Day ACH will be a welcome enhancement."
  • Get ready for Apple Pay on the Web - Stripe Blog - "Apple Pay on the Web will be available later this fall. (Apple has not yet published an exact date.) We’ve received a lot of questions about how the integration will work and we’ve been working closely with Apple to ensure that the implementation will be quick and easy for Stripe users."
  • Singapore Central Bank Proposes New Rules for Bitcoin Startups - Coindesk - "The proposed framework would require applicable companies to obtain a license from the Monetary Authority of Singapore (MAS), and divides payment activities into several categories. Digital currency exchanges would be covered by a provision overseeing startups that provide "money transmissions and conversion services"."

ON THE WIRES

  • Billtrust launches Quantum, the innovative end-to-end solution for Payment Cycle Management - "Today Billtrust announces the launch of Quantum Payment Cycle Management, a comprehensive, cloud-based, invoice-to-cash solution. Quantum supports businesses by improving efficiency, accelerating cash flow, and increasing customer satisfaction rates."
  • Online Purchases via Apple Pay & Android Pay to Reach $8Bn by 2018, Up Fifteen-fold from 2016 - "New findings from Juniper Research claim that the value of digital and physical goods purchased through mobile 'OS-Pay' platforms will increase by fifteen times in the next two years. A combination of in-app purchases and website retail payments is projected to drive annual spend via Apple Pay and Android Pay to $8 billion in 2018, up from $540 million this year."
  • Retail Takes Lead in Advanced Indoor Sensing as IoT Grows - "Retail has emerged as the most active adopter of advanced indoor sensing (AIS), a diverse toolkit of capabilities and technologies that offers strong potential to drive topline increases, rather than cost-related reductions, according to Lux Research."
  • Mobile Phones Replace Checkbooks, Fingerprints Trump Passwords, Says Fiserv Research - "The perception of security plays a key role in whether consumers choose to adopt a technology. Biometric security appears to have the potential to provide people with greater assurance than more conventional measures. While 41 percent of consumers indicated they would feel secure using a password as an authentication method to confirm their identity when using a mobile app, 62 percent said they would feel secure using fingerprint technology. This could have significant implications for overcoming consumer security concerns related to mobile payment methods."
  • Uber and Visa Introduce ‘Local Offers’ Program to Help Merchants Tap Into Local Spend Opportunities - "Uber and Visa Inc. (NYSE: V) today announced Uber Local Offers, a new way for riders to earn discounted rides by simply using the same Visa credit card on file with Uber at their favorite local merchants*. With Uber Local Offers, Uber riders get more out of shopping and dining, while merchants get a simple new way to acquire customers, drive loyalty and increase sales. Local Offers will initially be rolled out in phases to Uber riders in San Francisco and Los Angeles."
  • OT Introduces Flybuy, a Complete Range of Wearable Options Enabling Secure Payment on the Go - "According to IHS Technology, the number of wearable devices used for payments is projected to increase from 10 million units in 2015 to over 150 million units in 2020. As a pioneer in this market with the first payment sticker and keyrings, OT has been very active working with banks, processors and partners to propose a comprehensive range of wearable options."
  • New Micro Loan Lender Goes Completely Mobile, Bank Account Not Required - "CashOnCell is shaking up the traditional payday loan industry by offering small convenient loans that can be added to your cell phone bill."

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!

August 29, 2016

Headline News from PaymentsNews.com - August 29, 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

  • Paytm Said to Get $300 Million in Funds at $5 Billion Valuation - Bloomberg - " Share on Twitter Indian digital-payments and e-commerce startup Paytm is raising $300 million in a funding round led by Taiwan’s MediaTek Inc. and other investors, more than doubling its valuation to $5 billion, a person with knowledge of the matter said."
  • Google Wallet debuts automatic transfers so you can skip “cashing out” - Tech Crunch - "Google today is stepping up its battle with Venmo, Square Cash and other person-to-person payment applications with an update to its Google Wallet mobile app, which now allows for automatic transfers to your bank account. That is, transfers will no longer require you to cash out money from your Wallet balance first. This will speed up the time it takes for Wallet users to gain access to their cash, something that has been slower in the past."
  • Prepaid Card Gets First New Features After Glitch - Wall Street Journal - "RushCard, which was founded more than a decade ago by hip-hop producer and entrepreneur Russell Simmons, will introduce a revamped mobile-phone application that lets customers temporarily put their accounts on hold if they misplace their cards. The revamp will also give customers the option to open the app by authenticating it with a fingerprint for additional security."
  • The Next Wave of EMV - NACS Online - "With the October 1, 2017, EMV liability shift looming for automate fuel dispensers, many U.S. convenience store operators are preparing for the switch—to the tune of $6 billion. Upgrading fuel dispenser point-of-sale technology comes with a price tag as high as $17,000 per pump, Gray Taylor, executive director of Conexxus, told CNBC, an expense that will cut into the bottom line of the more than 90,000 single-store operators with the 154,000-plus convenience store universe."
  • Meet Monero, the Currency Dark Net Dealers Hope Is More Anonymous Than Bitcoin - Motherboard - "Now, there’s an alternative. On Monday, AlphaBay—the largest online market for drugs and other unsavoury items like fraud tools—announced on Reddit that the platform is adding support for an ostensibly super-anonymous cryptocurrency called Monero starting on September 1st, citing its “security features.”"
  • Sorry Blockchain, Any Joe Schmoe Shouldn’t Be Able to Start a Bank - Coindesk - ""You can't really base the financial system of the future on computers rather than humans, on trusting to immutable code no matter what happens. Financial systems are supposed to work for humans. If the code rips off the humans, something has gone wrong.""

ON THE WIRES

  • Square Teams Up with TouchBistro and Vend Point-of-Sale Systems to Bring Payments and Financial Services to More Sellers - "Today, we’re announcing integrations that will give TouchBistro and Vend sellers the ability to process payments with Square. For the first time, these sellers can access the same affordable hardware, fast deposits, and financial services our sellers use to run and grow their businesses."
  • Innotribe and Innovate Finance launch Global FinTech Hubs Federation initiative - "nnotribe, SWIFT’s innovation arm, and Innovate Finance, the independent membership organisation for global FinTech, today announced the launch of the Global FinTech Hubs Federation (GFHF) to help foster innovation across the world’s financial services industry. To date, more than 20 countries - including Canada, China, Germany, Mexico, Switzerland, and the United Kingdom, to name a few – are participating in the GFHF, with more countries expected to join in the coming months."
  • UnionPay Offers Secure and Convenient Payment Service for Chinese Students Studying Abroad - "The US is students' first choice for overseas study. UnionPay credit cards are accepted at the campus bookstores in over 20 top colleges and universities. Almost all the local ATMs accept UnionPay cards, and 80% of the local merchants accept UnionPay credit cards. Students can pay with UnionPay cards at websites like Amazon and eBay. Some merchants, like B&H, provide exclusive privileges for students."
  • SafetyPay starts operations in Belgium, consolidating its footprint in 21 countries - "SafetyPay, a secure cash payment platform, has announced the start of its operations in Belgium. By entering this European country SafetyPay is now present in 21 countries in Europe and the Americas (North, Central and South)."
  • TerraPay Expands Footprint in 32 Countries in Europe Through Acquisition of Pay2Global - "Pay2Global is a regulated digital international money transfer company with passporting rights into the European Economic Area (EEA). One in five migrant workers - approximately 50 million people - live and work in Europe, making the region home to a quarter of global remittance flows[1]. The acquisition helps TerraPay instantly scale its service footprint in the 32 countries of the EEA, accelerating growth by expanding the reach and the range of its money transfer products."

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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