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September 30, 2016

Headline News from PaymentsNews.com - September 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

  • Inside Bank of America's New Microsoft-Powered Blockchain Project - Coindesk - "Microsoft has been digging deep into the data created by its $120bn treasury unit in search of real-world use cases where blockchain could cut costs."
  • Simple rolls out shared bank accounts that work for anyone, including roommates - Tech Crunch - "Online banking service Simple is today rolling out a new product: shared accounts. However, unlike joint checking accounts typically shared by spouses, Simple’s shared accounts work differently. They allow customers to maintain their own accounts, but quickly fund then switch over to shared accounts to collaborate with each other on financial planning by tracking shared expenses, setting goals, and keeping an eye on the shared account’s “safe-to-spend” balance, which includes the money not already committed to bill payments and savings."
  • 80pc of consumers experience mobile shopping satisfaction despite security concerns: report - Mobile Commerce Daily - "Mobile commerce is now a global phenomenon, says a new report from the Interactive Advertising Bureau, with 80 percent of customers from around the world saying they are satisfied with their smartphone shopping options."

ON THE WIRES

  • EMVCo and PCI SSC Combine Expertise on 3-D Secure 2.0 - "Technical body EMVCo and PCI Security Standards Council have announced that they are collaborating to support the upcoming launch of 3-D Secure 2.0 (3DS 2.0). The announcement was made at the PCI Security Standards Council Community Meeting of global cyber security experts in Las Vegas, U.S, last week (20-22 September). "
  • FICO Survey: US Credit Unions Lose "Primary" Status with Half of Millennials as They Age - ""While credit unions may not have the vast networks of ATMs and branches, these new smartphone-driven technologies allow them to level the field. Integrating the ability to transact online can help address the attrition they are seeing in the 25-34 year-old age group.""

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 29, 2016

Headline News from PaymentsNews.com - September 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

  • US Central Bank Chair: Blockchain Could Have 'Significant' Impact - Coindesk - "During an appearance before a House of Representatives committee hearing today, Federal Reserve chairwoman Janet Yellen remarked that the US central bank is “trying to understand” financial technologies like cryptocurrencies and blockchain."
  • Yahoo Breach Raises Questions About Password Resets - Wall Street Journal - "“The problem is that the password reset mechanism usually involves sending a link to the email address registered with that account,” Mr. Ghosemajumder said. But if the password to be reset is for your main email account, there is no way to approve or verify any changes. And few Yahoo users are likely to have registered secondary email accounts to receive those links, he added."

ON THE WIRES

  • Citi Joins Early Warning’s clearXchange® Network - "Citi announced today that it will join Early Warning’s clearXchange® network, enabling Citi’s online and mobile banking customers to send or receive real-time person-to-person (P2P) payments to or from customers of participating network banks by simply using the recipient’s mobile number or email address. Citi will enable the functionality in early 2017."
  • Seamless Distribution AB: All European Seqr users can now use Seqr to pay all over the world – Contactless payment technology allows payments in 30 mln point-of-sales globally - "As of today all Seqr users in Europe can pay with Seqr all over the world using NFC (contactless) technology. The Seqr user simply holds the phone near the contactless card terminal to pay in shops everywhere where contactless card terminals are installed. The new Seqr contactless technology increases the freedom and independence for our users from old and inefficient technologies and financial services. Contactless technology makes Seqr into a truly global service and also increases the safety for users as a lost or stolen wallet doesn’t have to ruin a vacation or a business trip anymore. Seqr now is a fully global, fully functioning payment alternative wherever you are."

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 28, 2016

Headline News from PaymentsNews.com - September 28, 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 jockeys for mobile payments domination with new API platform - Mobile Commerce Daily - "The Mastercard Developers program allows the brand’s partners to access APIs across security, data and payments categories alongside supportive tools, such as software development kits and sample code for top coding languages. Mastercard’s open API rollout arrives on the heels of its competitor Visa’s open developer program launch this past summer, signaling that financial marketers must continue collaborating with other companies and making mobile-first technologies readily available in order to keep up with the rapidly evolving space."
  • Wells Fargo Claws Back Millions From CEO After Scandal - Wall Street Journal - "CEO John Stumpf to forfeit $41 million in unvested equity awards, forgo salary during investigation; former retail banking head Carrie Tolstedt to forfeit $19 million in unvested equity awards."
  • Tripping the Plastic Fantastic - Bloomberg Gadfly - "Buyout firms Advent and Bain Capital have made six times their money in as many years from their investment in Worldpay, a payments processing company. In just two years, they reaped as much as four times their investment in Nets, Worldpay's Nordic competitor, which went public last week."
  • Square hopes to ease the EMV transition with faster transaction times - Tech Crunch - "It’s focused on cutting transaction times to alleviate customer impatience, and it now boasts a 4.2-second total time from when you put your card in the reader to when you’ve successfully checked out."
  • ANDROID, IOS AND MARKET POWER – WHAT DOES MOBILE PLATFORM COMPETITION REALLY LOOK LIKE? - Disruptive Competition Project - " When the Commission announced the Statement of Objections (SO) it sent to Google, it held that the company has a market share of more than 90% in the market for licensable smart mobile operating systems. The word ‘licensable’ is key because it means that Apple’s iOS which powers all iPhones and iPads is outside the scope of the relevant market. So are iPhones really not competing with Android-powered smartphones?"

ON THE WIRES

  • Mastercard Accelerates the Pace of Commerce Innovation with Launch of Mastercard Developers - "This single gateway enables Mastercard partners to access a diverse range of Application Programming Interfaces (APIs) across payments, data and security. The platform also includes a ‘New and Experimental’ API category that enables partners to test new technologies and applications. "
  • Blockchain Adoption Moving Rapidly in Banking and Financial Markets: Some 65 Percent of Surveyed Banks Expect to be in Production in Three Years - "Commercial blockchain solutions are rapidly being adopted throughout banking and financial markets, dramatically faster than initially expected, finds two new IBM (NYSE: IBM) studies. Fifteen percent of banks and 14 percent of financial market institutions interviewed by IBM intend to implement full-scale, commercial blockchain solutions in 2017. Mass adoption isn't that far behind with roughly 65 percent of banks expecting to have blockchain solutions in production in the next three years."
  • Samsung Pay Reaches One Year Anniversary in the United States - "Samsung Pay—the most widely accepted mobile payment system—celebrates its first anniversary in the U.S., building on the digital wallet’s record of success. In just one year, Samsung Pay has driven innovation, adding features like support for membership and gift cards and coupons, allowing users to slim down their wallets. Samsung Pay now supports over 500 banks and credit unions, representing over 80 percent of the debit and credit card market in the U.S. Samsung Pay also now offers new features including an in-app coupon service to search, store and redeem coupons, as well as a new cloud storage feature to restore membership, gift and Samsung Reward cards whenever they sign into a new device."

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 27, 2016

Headline News from PaymentsNews.com - September 27, 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

  • IPFA drafts rulebook for cross-border instant payments - Finextra - "The International Payments Framework Association (IPFA) announces the first global scheme to transact real time payments as cross-border and cross-currency credit transfers."
  • 8 R3 Banks Test Intel Blockchain Platform - Coindesk - "A group of eight R3 member-banks have successfully tested a blockchain prototype that simulated the exchange of US Treasury bonds. Though a familiar use case for the tech, the test is notable given that it used technology developed by Intel and unveiled earlier this year. Called 'Sawtooth Lake', the platform offers a compelling take on how secure hardware could play a role in distributed ledger architecture."

ON THE WIRES

  • ACI Worldwide and VocaLink Join Forces to Speed up Adoption of Immediate Payments Around the World - "ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, and VocaLink, a global payments systems company, today announced a partnership to offer a complete end-to-end immediate payments solution to launch a domestic or regional immediate payments network."
  • Making Open & Instant Payments a Reality Worldwide: FIS Successes Cross Borders - "FIS’ Open Payment Framework (OPF) and the applications derived from this state-of-the-art technology are built to enable customer-facing organizations to offer more insight, lower costs and enhanced flexibility to better manage consumer adoption. OPF already has been implemented this year by financial institutions in Hong Kong, India and Canada to facilitate cross-border, ACH and wire transfers, and to provide customers with a single view on all their payments."
  • Fiserv Partners With FCTI to Drive ATM Terminals for World’s Largest Convenience Retailer’s U.S. Stores - "Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, has partnered with FCTI Inc., (FCTI), a nationwide ATM network company, to provide transaction processing for nearly 8,000 ATM terminals at franchise- and corporate-owned 7-Eleven stores across the United States."
  • Visa and Oracle Introduce New Tools to Help Improve Digital Ad Performance - "Leveraging digital advertising and cross-device connection data from Oracle Data Cloud with aggregated purchase data from Visa Advertising Solutions, merchants can measure consumer response to advertising campaigns run on mobile, display, video and social channels, and use the insights gained to optimize their efforts."

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 26, 2016

Headline News from PaymentsNews.com - September 26, 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

ON THE WIRES

  • Faster Processing and Settlement of ACH Credit Transactions begins Today, Reaching all U.S. Bank Accounts - "The Electronic Payments Association®, the trustee and rule maker of the ACH Network, announced the launch of Phase 1 of Same Day ACH. Same Day ACH is a new faster payments option that reaches all bank accounts and will enable businesses and consumers to send and receive payments and payment-related information on the same day through the ACH Network."
  • Major Banks Launch Global Payments Steering Group - "Ripple, the global provider of financial settlement solutions, today announced that a number of global banks are joining forces to establish the first interbank group for global payments based on distributed financial technology. Bank of America Merrill Lynch, Santander, UniCredit, Standard Chartered, Westpac Banking Corporation, and Royal Bank of Canada are the founding members of the organization, known as the Global Payments Steering Group (GPSG)."

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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