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October 07, 2016

Headline News from PaymentsNews.com - October 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

  • Staples adopts Apple Pay for Web after in-app success - Mobile Commerce Daily - "Office supplier Staples is investing more in Apple Pay for online purposes after it saw 30 percent of its mobile application sales coming through the mobile pay program, but its in-store usage is lacking."
  • Optimizing Transaction Speed at the Point of Sale - EMV Connection - "As chip cards continue to be issued and chip-enabled terminals continue to appear at merchant locations across the U.S., many cardholders and merchants are having varied responses to their chip transaction experiences. A common response heard across the industry is the inconsistent speed observed during an EMV transaction, where a chip transaction might take a couple seconds at one merchant but 20 or more seconds at another."
  • Nasdaq Wants to Patent Blockchain Backups for Exchanges - Coindesk - "Nasdaq is looking to patent a method by which a blockchain could be used to secure records of exchange transactions. On 6th October, the US Patent and Trademark Office (USTPO) released an application for "systems and methods of blockchain transaction recordation", originally submitted by Nasdaq on 31st March."
  • Bringing Home the Bacon with a Good Card Program - FIS blog - "Over the last five or six years, card usage has grown enormously. Debit card usage is up over 50 percent, while credit cards up by just under 30 percent, according to The Nilson Report from Dec. 2015. These upward trends look set to continue to the end of the decade as card penetration continues its steady growth."
  • PwC: Digital And Mobile Holiday Spending Will Jump 25% - Retail Touch Points - "Furthering the need for retailers to bolster their store experiences, both e-Commerce and mobile sales are set to skyrocket, increasing by 25% each. With more shoppers expected to buy through digital channels in the 2016 holiday season, retailers need to ensure that this growth doesn’t cannibalize their brick-and-mortar presence. However, brands are encouraged to continue optimizing e-Commerce and mobile experiences to include frictionless, one-click checkout and easy access to store inventory."

ON THE WIRES

  • AFSA urges changes to CFPB's proposed small dollar rule - "The American Financial Services Association (AFSA) has submitted its 37-page comment letter to the Consumer Financial Protection Bureau (CFPB) urging the federal regulator to preserve consumers’ access to safe and affordable traditional installment lending (TIL) by modifying the Proposed Rule on payday, title loans and certain high-cost installment loans."
  • From the Trenches: Current Status of Security and Risk in the Financial Sector - "Ransomware, identified by 55% of respondents, has eclipsed spearphishing (50%) as the top attack vector for the first time. Such attacks have caused considerable damage, with 32% of survey respondents citing losses between $100,001 and $500,000 as a result of their breaches."

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!

October 06, 2016

Headline News from PaymentsNews.com - October 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

  • Chip card lawsuit to move forward against Visa, Mastercard, others - CIO - "A federal judge has ruled it is plausible that four national credit-card companies improperly conspired “in lockstep” to set a deadline of Oct. 1, 2015 for requiring retailers to upgrade their technology to accept embedded chip cards for credit and debit card purchases."
  • Kohl’s rolls out its own mobile payments platform, Kohl’s Pay - Tech Crunch - "That being said, the retailer has more than 25 million active cardholders across the U.S., so there is a sizable market that may be interested in using Kohl’s Pay at the point-of-sale. And these are Kohl’s most active and loyal customers — 60 percent of its in-store sales are done through its store cards, the retailer has said. What makes the solution better than traditional methods (e.g. cash, credit cards) is that it allows shoppers to automatically redeem the rewards they’ve collected in the app’s mobile wallet, at the same time as they check out — that is, it all takes place within one transaction."
  • New protections for prepaid accounts - CFPB - "The CFPB’s new rule on prepaid accounts creates comprehensive consumer protections for prepaid accounts that take effect on October 1, 2017."
  • Cross-Border Payments Startup Payoneer Raises $180 Million - Bloomberg - "Eleven-year-old Payoneer provides digital cross-border payments and transaction-related services. While the New York-based company has been profitable for three years, Payoneer raised cash to give it more flexibility to spend on expanding its workforce and global presence and build a bigger acquisition arsenal, said Chief Executive Officer Scott Galit."
  • Security Design: Stop Trying to Fix the User - Schneier on Security - ""Blame the victim" thinking is older than the Internet, of course. But that doesn't make it right. We owe it to our users to make the Information Age a safe place for everyone -- not just those with "security awareness.""

ON THE WIRES

  • PaySimple Introduces First eCommerce Platform for Services - "By using the PaySimple Online Store, small business owners can also focus on more than just selling. The system provides best-in-class order management, customer reconciliation, real-time business insights and reporting to learn which customers and products are their best, so that they can be more strategic and focus on their passions."

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!

October 05, 2016

Headline News from PaymentsNews.com - October 5, 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

  • Cardtronics to Acquire DirectCash Payments - "Cardtronics plc (Nasdaq:CATM) and DirectCash Payments Inc. (“DCPayments”) today announced a definitive agreement under which Cardtronics would acquire DCPayments. The purchase price of CAD$19.00 per share includes the assets of First Data Corporation’s Australian retail ATM and managed services ATM portfolio (“First Data ATM portfolio”), which was acquired by DCPayments on September 30. DCPayments is a leading global ATM services provider with approximately 25,000 ATMs (inclusive of its First Data ATM portfolio acquisition) with primary operations in Australia, Canada and the United Kingdom."
  • MineralTree and Visa Ink Strategic Alliance to Streamline Commercial AP Payments - "Today MineralTree, the Accounts Payable and Payment Automation solution provider for middle market companies, announced a strategic alliance with Visa to integrate the MineralTree platform with Visa Payables Solutions to drive the growth of Accounts Payable (AP) payments using commercial virtual cards. "
  • Revel Systems Announces RevelGuard - "Revel Systems, the world's leading iPad Point of Sale management solution for brick-and-mortar retail, food businesses and more, today announced the launch of RevelGuard, a hardware device that monitors the network health and builds alerts for clients with POS terminals using Revel."

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!

October 04, 2016

Headline News from PaymentsNews.com - October 4, 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

  • Millennials and Money – Are they Maligned or Misunderstood? - Payments Views (Glenbrook’s Beth Horowitz Steel) - "Contrary to popular belief, the millennial generation is not lazy, entitled or narcissistic. They are a robust group of entrepreneurial, socially astute and media savvy consumers. They make discerning decisions about their money and are thoughtful about the companies they trust."
  • Mastercard app lets online shoppers pay with a selfie - International Business Times - "Mastercard is about to start letting customers in the UK and Europe pay for goods online by using their face instead of a password. Having already been trialled in the US and Canada, the service, called Identity Check Mobile, asks for customers to pose for a photograph of their face to authenticate online purchases."
  • Should SWIFT be afraid of blockchain technology? - Finextra opinon blog - "My first question: is blockchain really a threat for an organisation like SWIFT, that nowadays connects more than 8,000 financial institutions around the globe. This coordinated global payments network worked well enough for over forty years. Designed before the digital age, it is the best existing interbank messaging and exchange system, but needs a major upgrade."
  • Stripe payments exits beta in Japan, adds Sumitomo Mitsui Card Company as investor - Tech Crunch - "Stripe, the company that lets app publishers, online merchants and other digital businesses include payments features via a few lines of code, is expanding in Asia. After launching in Singapore two weeks ago, the startup is now officially opening for business in Japan. And alongside the Japan launch, Stripe is announcing a new investor. Sumitomo Mitsui Card Company, the largest credit card provider in the country, is taking a stake in the startup."
  • Why CGI Doubled Down on Ripple's Distributed Ledger Tech - Coindesk - "Since building one of the earliest Ripple proofs-of-concept in 2014, CGI has expanded its work with the distributed ledger into new areas. In July, CGI announced that it had integrated Ripple into its Intelligent Gateway service, used for sending Swift transaction messages. Then, at Sibos earlier this week CGI announced it has launched a blockchain laboratory for its customers to experiment with using Ripple for trade finance."
  • Q&A: Wal-Mart CIO Karenann Terrell on What the Retailer Learns From Online Grocery Data - Wall Street Journal CIO Journal - "Wal-Mart Stores is making a big push into the online grocery business this year, expanding beyond test markets to new cities across the U.S. Shoppers can place orders at Wal-Mart’s website and in its mobile app, for pick up at nearby stores. By analyzing data gathered as shoppers buy items from cantaloupe to cat food online, the retailer is learning how to better run backend operations as well as frontend customer service systems, Wal-Mart CIO Karenann Terrell tells CIO Journal."

ON THE WIRES

  • ATM Fees Set New Record High; Overdraft Fees Are Down - "ATM fees set a new record high for the 10th year in a row, with the total cost of using an out-of-network ATM withdrawal rising to $4.57, according to Bankrate.com's (NYSE: RATE) 19th annual checking survey."
  • Jack Henry & Associates Expedites P2P Payments - "ack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its JHA Payment Solutions™ group today announced that it has partnered with Visa® to deliver faster P2P (person-to-person) payments to a recipient's Visa debit card."
  • LG Brings Streamlined Payment Option To Smart TVs - "LG Electronics, in collaboration with Paymentwall, announced today that developers now have the opportunity to create apps that enable LG webOS Smart TVs in the United States to support scores of different online payment methods. LG's global Paymentwall alliance, bringing more than 140 payment options to more than 200 countries, will give consumers easier access to paid apps, movies, games and much more through LG's intuitive webOS Smart TV platform. "
  • FICO and Lenddo Partner to Extend Credit Reach in India - "The collaboration will combine Lenddo's dedicated knowledge in the use of nontraditional data for scoring and online verification with FICO's established strength in credit scores that are predictive, transparent and fair. FICO and Lenddo are developing a score that will give lenders improved certainty around the risk assessment of people with 'thin-files' – those who don't have enough data in their credit report to score. Both companies are committed to the common goal of enhancing financial inclusion around the world."
  • Automated Payments Systems in High Demand as International Payments Soar Due to Increasing Pace of Globalization - "AFEX, one of the world’s largest non-bank providers of global payment and risk management solutions, today announced the results of its inaugural State of International Payments Report, finding that nearly half (46%) of North American companies involved with international commerce expect to utilize international payments more this year than in 2015. As a result, nearly one in three North American companies (29%) are planning to start using, or plan to upgrade their online automated international payments tools in the next 12 months to increase operational efficiency, mitigate risk and reduce costs."

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!

October 03, 2016

Headline News from PaymentsNews.com - October 3, 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

  • Android Pay removing ‘grandfathered’ credit cards from Google Wallet on October 14th - 9to5 Google - "Google’s Android Pay mobile payment service has been decidedly more restrictive since day one, all in the name of security. How so? Android Pay has always relied on a connection with a supported bank, leaving many other users out of Google’s favor."
  • Salesforce Brings E-Commerce Software Into the Fold and Smartens it Up - Fortune - "New with this release of the on-demand software is support for Apple AAPL -0.63% Pay, which enables secure payments from iPhone, iPad, or Mac devices. That could ease one big problem for online resellers who “increasingly see customers abandon the sale at checkout when they have to enter payment,” Shelley Bransten, Salesforce’s senior vice president of retail and consumer products told Fortune in an interview."
  • 3 Reasons Online Stores are Failing Your Service Business - PaySimple Blog - "Retail-based shopping carts can be great solutions for businesses trying to sell online. But for service-based businesses, sometimes they aren’t doing any favors."

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!

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