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

« August 28, 2016 - September 3, 2016 | Main | September 11, 2016 - September 17, 2016 »

September 09, 2016

Headline News from PaymentsNews.com - September 9, 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

  • Wells Fargo to Pay $185 Million Fine Over Account Openings - Wall Street Journal - "Wells Fargo & Co. was slapped with a $185 million fine Thursday for “widespread illegal” sales practices that included opening as many as two million deposit and credit-card accounts without customers’ knowledge, federal and local authorities said."
  • Blockchain Requires Radical Change, Not Compromise - Coindesk - "Blockchain and distributed ledger technology are radical. Together, they could transform the way finance works, but people in the financial world are creatures of habit and old practices die hard. So, if these technological advances are to transform finance, they need to be championed by key financial organizations."
  • Revel Systems inks payments deal with Shell as rumors swirl of a sale to IBM - TechCrunch - "Reports claim that point-of-sale startup Revel Systems is in early acquisition negotiations with IBM, and while both Revel and IBM declined to comment when we asked about it, a deal that the startup announced today could provide an interesting clue for why a company like Big Blue might be interested in buying it. Today Revel announced a deal with Shell, the oil and gas giant, to implement its point-of-sale system across its retail network of gas stations globally."

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. 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 08, 2016

Headline News from PaymentsNews.com - September 8, 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

  • MasterCard Facing Damages Claim of $18 Billion Over High Swipe Fees - Wall Street Journal - "LONDON— MasterCard Inc. is facing a damages claim of £14 billion ($18.72 billion) on behalf of U.K. consumers who were allegedly charged higher prices because of the card giant’s high swipe fees. The claim, filed Thursday in the Competition Appeal Tribunal, was described as the biggest in U.K. legal history by former Chief Financial Services Ombudsman Walter Merricks, who is bringing the claim."
  • Apple Pay comes to Japan, New Zealand and Russia this fall; hits the web on September 13 - Tech Crunch - "Apple Pay will arrive in three more countries this fall: Japan, New Zealand and Russia, and will hit the web alongside the launch of iOS 10 on September 13th. The web version of Apple’s payments service will be made available to Safari users on any Mac introduced from 2012 on, which is also running the latest operating system, macOS Sierra."
  • Workers Paid by Card Will Gain Protections in New York State - New York Times - "Workers in New York State who receive their wages on prepaid cards will gain consumer protections next year that advocates say are among the strongest in the nation. The new rules are intended to guarantee that employees do not have to pay any fees to gain access to their paychecks."
  • G20 proposes global platform to eliminate ecommerce barriers - The Paypers - "G20 summit has proposed the creation of a global ecommerce platform to eliminate barriers in online trade. B20 group, comprising business leaders from G20 countries, raised the idea of an electronic world trade platform (eWTP), as a policy recommendation to be considered during the two-day summit which opened in Hangzhou on Sunday."

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. 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 07, 2016

Headline News from PaymentsNews.com - September 7, 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

  • iZettle buys intelligentpos to expand from mobile payments to commerce solutions - Tech Crunch - " iZettle — the Swedish mobile payments startup backed by the likes of Intel, American Express and Spanish banking giant Santander — has bought intelligentpos, whose cloud-based software lets businesses in the hospitality and other industries manage their inventory, loyalty programs and customer flow."
  • Walmart boosts MoneyGram co-branded money transfer service with mobile tools - Mobile Commerce Daily - "Walmart is teaming up with money transfer service MoneyGram to launch an upgraded version of the platform on walmart.moneygram.com, bringing new mobile money management tools to the retailer’s customers. The newly enhanced site is built on MoneyGram’s Money Transfer as a Service platform, which allows brands such as Walmart to co-brand the service and open up new marketing opportunities to users."
  • Barclays Completes Blockchain Trade Finance Transaction - Coindesk - "Barclays reported today that two partners (agriculture co-operative Ornua and food product distributor Seychelles Trading Company) were able to successfully transfer trade documentation via a blockchain platform created by its accelerator program graduate, Wave."
  • Opportunity for fintech entrepreneurs — up to $100k and 6 months support for your idea - Caribou Digital - "Announcing a great opportunity for entrepreneurs interested in launching a developing world fintech startup! Join Caribou Digital’s DFS Lab team for a 1-week bootcamp in Dar es Salaam with top experts and win 6-months support for your concept."

ON THE WIRES

  • Masterpass Adoption Delivers Simple and Secure Digital Payment Experiences for Consumers, Issuers and Merchants Around the World - "The continued transformation of Mastercard to an even more digital company continues to be driven by the rapid growth, support and success of Masterpass, the company’s digital payment service. As part of this momentum, Mastercard today announced issuers and merchants around the globe that are making Masterpass available to their customers, enabling fast, simple and secure digital payment experiences across devices and channels – online, in-app and in-store."
  • SunTrust: Electronic Payments Can Help Businesses Combat the Number One Cause of Fraud - "Even in the internet age, companies still make more than 57 percent of all payments through paper-driven processes and checks, according to a survey by SunTrust Banks, Inc. (NYSE: STI) of middle market and small business executives. Not only can these non-electronic processes have a negative impact on a company's cash flow and balance sheet, but also they can significantly increase exposure to fraud. In fact, 73 percent of organizations have experienced actual or attempted fraud, with non-electronic processes the number one source of fraud according to the 2016 AFP Payments Fraud and Control Survey."
  • TreasuryXpress Launches New Online Store for On-Demand Treasury Technology - "TreasuryXpress, global leader in frictionless and on-demand treasury management solutions today announced the launch of the TreasuryXpress Lab, the industry's first online store. "The Lab" offers a growing portfolio of both standalone and add-on financial and treasury products. The store allows treasuries and companies of all sizes to pick, choose, and use the capabilities they need to automate their finances on-demand and in the Cloud."
  • Chase Visa Cardholders Can Now Use Android Pay - "Chase customers with Android Pay-enabled devices can make purchases with their phone at millions of store locations nationwide that accept contactless payments, and within many Android apps. Chase cardholders maintain all of the rewards, benefits and services they have come to expect when using their Chase Visa credit and debit cards."

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 06, 2016

Headline News from PaymentsNews.com - September 6, 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

  • Expanded Frontiers in Mobile Payment - Glenbrook’s Payments Views (Elizabeth McQuerry) - "One of the payments obsessions here at Glenbrook is understanding the ways in which mobile payment and digital financial services are taking hold around the world. Once effectively limited to the early success of M-PESA and P2P payment in Kenya, today there are a number of services underway. M-PESA itself, in around a decade, has evolved to offer bill payment, savings options, small loans and is also working on merchant payments. "
  • New Cards Chip Away at Payment Companies - Wall Street Journal - "VeriFone said it hasn’t seen any significant change in its market share. But investors could be worried about new, cheaper alternatives luring in small merchants. In emerging markets, competition comes from low-cost providers like China-based PAX Global Technology. In the U.S., Square offers a chip reader that connects to a mobile device and costs just $49, a fraction of the price of an Ingenico or VeriFone terminal."
  • Ingenico Falls After Cutting 2016 Sales, Margin Forecasts - Bloomberg - "Ingenico’s announcement adds to evidence that the shift in the U.S. to payment cards with chips is problematic for the industry. Verifone Systems Inc. on Thursday cut its sales and profit forecasts, citing weakening demand in the U.S. Large merchants there have already shifted to payment terminals that accept credit and debit cards with chips, while smaller merchants are delaying adoption. In Brazil, the economy has shrunk for six straight quarters, damping retail activity and thus hurting payments companies. "
  • PayPal Strikes Deal with MasterCard to Allow Payments in Stores - Wall Street Journal - "The company has said the network deals, which will see PayPal place debit and credit cards on par with other ways to pay, make PayPal a “ubiquitous” payment tool. It argues that volume growth would outpace declines in revenue per transaction, and that merchants would want to pay for PayPal because it works seamlessly for every customer. The deals would also help its relatively newer services, such as Braintree, which processes payments for big merchants, and Venmo, a social peer-to-peer payments app popular with millennials."
  • Mobile is heaviest used banking channel as transactions multiply: report - Mobile Commerce Daily - "The survey found that 40 percent of consumers report having using mobile banking within the past 30 days, a number that jumps to 77 percent of early millennials. Of this 40 percent, 51 percent said they use the service more now than a year ago. Among users of mobile bill pay, 47 percent use it more now than a year ago."
  • Brits still not 100% sure about security of mobile payments - Contactless Intelligence - "“Part of the reason for the rapid increase in the use of contactless cards is the simple fact that they are now much more widely accepted. They’ve moved beyond coffee shops and sandwich bars and are now entirely commonplace. However, the real shift in behaviour has only come over the last few years. It’s easy to forget that contactless cards were first launched back in 2007, meaning that the technology has been on British high streets for almost a decade. People’s payment habits change slowly, as can be seen with the cheque’s stubborn refusal to disappear from the payments landscape,” said Rich Shepherd, Financial Services Analyst at Mintel."

ON THE WIRES

  • PayPal and Mastercard Expand Partnership to Benefit Consumers, Merchants and Financial Institutions - "Under the expanded partnership, consumers and small businesses will be able to instantly cash out funds held in their PayPal accounts to a Mastercard debit card. PayPal will also be provided certain financial volume incentives and, as a result of the commitments made under this agreement, will no longer be subject to the digital wallet operator fee."
  • PayPal’s Braintree to Offer Visa Checkout – Expanding Choice for Merchants and Consumers - "Braintree, a PayPal company that powers payments for companies like Airbnb, Eventbrite, Pinterest and Uber, offers simple solutions that enable merchants to accept a variety of payment options online, in app and in-stores, and soon Visa Checkout will be available as one of Braintree’s payment options. The online payment service allows Visa cardholders to pay on any connected device, in just a few clicks, using their Visa account. Visa Checkout is already part of the shopping experience at many leading online retailers including Starbucks, Walgreens and Best Buy."
  • Over 80% of Merchants in the US Accept UnionPay Credit Cards - "It is learnt on September 1 that almost all the ATMs in the US accept UnionPay cards for cash withdrawal and over 80% of the local merchants accept UnionPay credit cards. In tourists' favorite destinations like New York, Hawaii, San Francisco, Los Angeles, Orlando and Chicago, UnionPay's acceptance coverage in well-known shopping centers and Outlets has exceeded 90%. With one UnionPay debit card and one UnionPay credit card (card numbers both start with 62), cardholders can pay with ease and benefits in the US."
  • Basic Wearables Soar and Smart Wearables Stall as Worldwide Wearables Market Climbs 26.1% in the Second Quarter, According to IDC - "While the overall wearables market grew during 2Q16, its two categories traveled at different speeds and directions. Basic wearables (devices that do not support third party applications) grew 48.8% from 2Q15 levels while smart wearables (devices that support third party applications) declined 27.2% year over year."
  • Revel Systems Announces Partnership with Punchh - "Revel Systems, the world's leading iPad Point of Sale management solution for brick-and-mortar retail, food businesses and more, today announced they are partnering with Punchh, the premier provider of Mobile Engagement, CRM and Marketing Automation technologies for enterprise restaurant chains."
  • WEX Enters into Agreement with Ypsilon.Net AG - "WEX Inc. (NYSE: WEX), a leading provider of corporate payment solutions, has today announced that they have entered into an international agreement with Ypsilon.Net AG, a global provider of internet travel technology and payment solutions for airlines, consolidators, travel portals and travel agencies. With the agreement in place, WEX is expanding its presence within the travel payment space in Germany."

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!

Sponsors

News View

Payments Consultants

Subscribe

Languages