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October 28, 2016

Headline News from PaymentsNews.com - October 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

  • Mobile influences retailers’ shift to loyalty programs, forgetting traditional coupons - Mobile Commerce Daily - "After years of being a coupon-cutter’s dream, Bed, Bath & Beyond announced earlier this month that it would drop coupons in favor of a subscription loyalty-based system called Beyond+, which gives a permanent 20 percent discount."
  • YES Bank integrates ToneTag tech for sound-based payments - Finextra - "ToneTag utilises the in-built mic or speaker of any device to enable data transfer through soundwaves at merchant terminals which have integrated the technology. The SDK contains features such as patented noise filters, three levels of encryption, tokenisation, white box cryptography and multifactor authentication."
  • 3 ways retailers plan to protect customer data - Retail Customer Experience - "Interested in knowing how your data is being protected? Here are three ways retailers plan to protect customer data through 2017."
  • Dunkin’ Donuts To Enable Gifting Through Messages In IOS 10 - Point of Sale News - "Today Dunkin' Donuts becomes the first national coffee chain to enable gifting and payment within Messages in iOS 10. Dunkin' Donuts fans can now access the Dunkin' Mobile App through the App Store for iMessage to deliver mobile Dunkin' Donuts Cards to friends, family and colleagues as quickly and simply as sending an emoji."
  • IoT Device Maker Vows Product Recall, Legal Action Against Western Accusers - Krebs on Security - "A Chinese electronics firm pegged by experts as responsible for making many of the components leveraged in last week’s massive attack that disrupted Twitter and dozens of popular Web sites has vowed to recall some of its vulnerable products, even as it threatened legal action against this publication and others for allegedly tarnishing the company’s brand."
  • EU Issues Data-Protection Warning to WhatsApp, Yahoo - Wall Street Journal - "A European Union body representing national data-protection authorities from the bloc’s 28 states said it sent WhatsApp a letter expressing “serious concerns” about the messaging service’s new terms that allow it to share user information including phone numbers with its parent, Facebook. The regulators urged the company to pause the data sharing until “legal protections” could be assured."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. 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 27, 2016

Headline News from PaymentsNews.com - October 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

  • Money20/20 Wrap-up - Glenbrook’s Payments Views (George Peabody) - "We’ve seen a lot of innovation in payment initiation over the last few years. Apple Pay, Android Pay, Walmart Pay and their like have filled Payments News headline stories. But this year, at Money20/20, consumer-facing innovation downshifted to a lower gear. And that’s a good thing."
  • More Pain at the Pump, But This Time for Gas-Station Operators - Bloomberg - "For gas stations, one demotivating factor is cost: About a third of the 750,000 pump dispensers are too old and would need to be replaced to accept chip cards, according to Gray Taylor, executive director of Conexxus, which looks at technology standards for the global convenience and petroleum retail market. The average price for a replacement unit: $17,000. And that’s on top of what a station might spend on new hardware and software for EMV point of sale. In all, gas stations and convenience stores would have to shell out more than $7 billion to replace or upgrade their machines to accept chip-cards, he said."
  • Wal-Mart, Target Invest in Store Pickup for Holidays - Wall Street Journal - "This holiday season one way traditional retailers hope to wrestle sales from Amazon.com Inc. is by making it easier for shoppers to buy items online and pick them up in stores. Retailers including Wal-Mart Stores Inc. and Target Corp. are investing heavily to smooth pain points that have kept store pickup in the shadows of home delivery, Amazon’s sweet spot."
  • Etsy adds Adyen as a new payment processor in wake of Worldpay outage - Tech Crunch - "And they say wild west justice is no more. Etsy, the online marketplace for handmade goods, has just reached a deal with Adyen, a global payments processor, to help run its payments backend for the over 1.7 million sellers on the site."
  • Mastercard unveils chatbot platform for merchants and banks along with wearable payments - Mobile Commerce Daily - "Mastercard is bringing Mastercard KAI to both merchants and banks Mastercard is taking two big steps forward when it comes to mobile integration thanks to a new chatbot system and a partnership that brings payments to wearable devices, signaling that the credit card company is committed to making multichannel retail more mobile."
  • HOW NORTH AMERICAN CONSUMERS RATE THEIR BANKING AND PAYMENT APPS - ARC from Applause - "The perfect attendance rating is an important milestone. Mobile is changing the way consumers bank. Fiserv’s recent survey of more than 3,000 U.S. adults ages 18 and older reveal that 40% use mobile banking today, and among millennials that number increases to more than 75%. In other words, mobile is the future of banking."
  • Investors Are Going Wild for a Digital Currency Called Zcash (And It's Not Even Out Yet) - Coindesk - "Unlike most digital currencies (which are clones of bitcoin or assets on the ethereum protocol) Zcash uses a wholly new protocol called Zerocash, which offers both anonymous digital coins called zerocoins and non-anonymous coins referred to as basecoins. Zerocash permits anonymous transactions by harnessing a kind of zero-knowledge proof called a zk-SNARK, which allows two parties to provide each other with verified information without revealing their identities in the process. This technology permits the creation of a secure blockchain that hides the sender, recipient and value of all transactions. Further, the information surrounding these transactions is only available to those holding a view key."
  • Now may be the time to dust off your credit cards - Boston Globe - "So far this year, banks have issued new credit cards at a rate unseen since before the 2008 financial crisis, which triggered an avalanche of bad debt. Revolving debt, primarily credit cards, has been climbing, nearing $975 billion in August, with analysts expecting it to reach a pre-crisis peak of more than $1 trillion by early next year."
  • CYBERSECURITY, UNSCRUPULOUS DINERS, AND INTERNET STEWARDSHIP - Stanford Law School blog - "To mitigate this existential risk of "cybersecurity free riders" to the continued health and growth of the Internet, I believe it is necessary to develop a theory of Internet Stewardship—a distributed, decentralized, cooperative model that incorporates a shared duty to establish, maintain, and follow basic cybersecurity standards. "

ON THE WIRES

  • FICO Enterprise Security Score Gives Long-Term View of Cyber Risk Exposure - "Analytic software firm FICO today launched the FICO® Enterprise Security Score, a metric that reveals the likelihood an organization will be breached due to a cyber attack. This score can be used by an enterprise to understand and shore up its defense gaps, and by third parties such as cyber insurance providers, potential partners and customers who need an objective measure of a firm's cyber risk."
  • Qualcomm to Acquire NXP - "Qualcomm Incorporated (NASDAQ: QCOM) and NXP Semiconductors N.V. (NASDAQ: NXPI) today announced a definitive agreement, unanimously approved by the boards of directors of both companies, under which Qualcomm will acquire NXP. Pursuant to the agreement, a subsidiary of Qualcomm will commence a tender offer to acquire all of the issued and outstanding common shares of NXP for $110.00 per share in cash, representing a total enterprise value of approximately $47 billion. "
  • Viewpost Electronic Invoicing and Payments Survey: The Gut Response to ‘the Check’s in the Mail’ - "The survey, fielded to nearly 3,000 U.S.-based businesses from September 29 to October 7, 2016, discovered electronic payments is the preferred method of payment by a majority of professionals (51.6 percent) and is close to replacing paper checks as the number one method of payment (paper at 37 percent versus electronic at 35 percent) for businesses—highlighting a migration that is helping to solve age-old problems with using antiquated payment solutions."
  • WEX Inc. and ExxonMobil Extend North American Fleet Card Contract for 10 More Years - "WEX Inc. (NYSE: WEX), a global provider of industry-leading corporate payments solutions, today announced a ten-year extension of its North American fleet card contract with Exxon Mobil Corporation (NYSE: XOM) and Imperial Oil, whose managing partner is Imperial Oil Limited (NYSE: IMO)."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. 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 26, 2016

Headline News from PaymentsNews.com - October 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

  • Facebook isn’t making money when you shop on Facebook — yet - Recode - "Facebook has tried a bunch of different ways to get people to shop on the site, but it’s never been Facebook’s strength. That hasn’t stopped the social giant from trying, though. Remember Facebook gifts? Or the company’s plan to push into buy buttons? Now Facebook has another new plan: Marketplace, a Craigslist-style product that lets people buy things from, or sell things to, other Facebook users."
  • Allstate’s faster mobile payment option capitalizes on mobile financial services’ popularity - Mobile Commerce Daily - "Allstate is revamping its digital payment method with QuickCard Pay, which takes over for its Fast Mobile e-Payment as its new focus for quick, mobile-ready payment options using the Mastercard Send system to help users pay their bills and receive payments on claims on any device."

ON THE WIRES

  • With U.S. Bank APConnector™, More Businesses Can Say "Yes!" to Virtual Pay - "By acting as a translator between the bank’s payment systems and an organization’s ERP software, APConnector makes the path to payment automation seamless and cost effective. It allows organizations to send payments electronically using secure virtual card accounts that provide enhanced remittance data as well as improved reconciliation. Paying corporate invoices electronically no longer requires a major commitment of information technology (IT) resources. Set-up time for launching a virtual card solution shrinks to as little as a few weeks, versus up to three months in a conventional set up."
  • Giesecke & Devrient Teams with Rittenhouse Payment Solutions for Event-based Wearable Solutions - "Extending its active participation in contactless-payment-enabled wearables, G&D is bringing a new wearable solution to the market with Rittenhouse Payment Solutions, a leader in the prepaid payments space who offers cutting-edge program solutions. The prepaid smart wristband can be used for payment and access in a variety of everyday environments."
  • First Data, Alipay Partner to Bring Popular Chinese Mobile Payment Option to U.S. - "First Data (NYSE: FDC), a global leader in commerce-enabling technology, today announced a new partnership with Alipay, one of the world’s leading online payment platforms, to bring the Alipay mobile payment solution to United States merchants. Beginning in November, Alipay will be available to Chinese consumers shopping at select retail locations in California and New York. Participating retailers at those locations will use First Data’s Clover Mini point-of-sale solution to accept Alipay."
  • Samsung Pay to Add Three New Countries, Online and in-App Payments, Location-Based Deals and More - "Samsung Electronics Co. Ltd. today announced Samsung Pay will add three new countries to the roadmap including Malaysia, Russia and Thailand, which will bring the convenience of the service to 10 countries by the end of 2016. Samsung Pay also announced a global partnership with Mastercard to offer a simplified online payment and express checkout solution through its digital payment service Masterpass, starting early next year. Hundreds of thousands of merchants in 33 countries currently accept Masterpass for online payments."

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. 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 25, 2016

Headline News from PaymentsNews.com - October 25, 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

  • Big U.S. Retail Bank Operations Under Scrutiny After Wells Scandal - Wall Street Journal - "The Office of the Comptroller of the Currency earlier this month sent formal letters to large and regional banks seeking information about sales practices and incentive-compensation structures following the Wells Fargo & Co. scandal, people familiar with the requests said."
  • Banks Challenge Venmo With New Payments Network Dubbed Zelle - Bloomberg - "Nineteen U.S. financial firms -- including titans such as JPMorgan Chase & Co., Bank of America Corp. and Wells Fargo & Co. as well as regional lenders and credit unions -- have signed up for a new real-time payments network dubbed Zelle. The venture, replacing an existing system called clearXchange next year, will be accessible to more than 76 million mobile banking customers when it starts, according to a statement Sunday from Early Warning, the bank-owned entity handling the project."
  • Visa's Blockchain Bet Opens Up to Developers - Fortune - "Anyone can now build on top of Chain’s network. Banks and financial firms have been tinkering for the past few years with the code that powers cryptocurrencies such as Bitcoin, with the intention of potentially overhauling their moldering infrastructure. Now they’re preparing to release their code into the wild. Chain, a two-year-old startup based in San Francisco, has decided to make its platform available to the public. The company is releasing an open source version of its Chain Core software to developers, any of who as of Monday can find the source code for its proprietary blockchain, or distributed ledger, on its webpage on Github, a code-sharing website."
  • A Plug-in From Synchrony Brings Store Cards to Retailers’ Shopping Apps - Digital Transactions News - "With consumers spending more and more time on retailers’ shopping apps, it was only a matter of time before merchants with proprietary charge card programs began offering a digitized version of those cards within their apps. On Monday, that time arrived as store card processor Synchrony Financial announced its Synchrony Plug-in, which allows client retailers to offer a digital version of the private-label plastic Synchrony issues on their behalf."
  • India’s largest data breach involving debit cards went undetected for 3 months - Mint - "Card data of 3.2 million customers was stolen between 25 May and 10 July from a network of Yes Bank Ltd ATMs managed by Hitachi Payment Services Pvt. Ltd, but it was only in September that banks and payments services providers became aware of the extent of the breach."

ON THE WIRES

  • Visa Opens Tokenization Services to Third Party Partners - "Today Visa (NYSE:V), announced it is accelerating the adoption of secure, digital payments by allowing third party partners to offer Visa Token Service (VTS). By expanding access to VTS to new partners – including technology companies, device manufacturers, issuers, Internet-of-Things (IoT) companies, wallet providers, merchants and others – Visa will be able to more quickly and easily offer secure digital payment services on any device to the market. Giesecke and Devrient, Gemalto and Inside Secure are the initial partners participating in Visa’s token service provider program to offer new expanded access to VTS."
  • Mastercard Partners with Fit Pay to Accelerate the Development of Payments-Enabled Devices and Wearables - "Mastercard today announced a partnership with Fit Pay, Inc. to bring Mastercard contactless payments to consumer wearables and Internet of Things (IoT) devices. By integrating the Fit Pay platform with the MasterCard Digital Enablement Service (MDES), the companies will work with Wearatec and other innovative manufacturers to bring to Mastercard cardholders a variety of secure contactless payments-enabled devices."
  • Mastercard Makes Commerce More Conversational with Launch of Chatbots for Banks and Merchants - "Today at Money 20/20, Mastercard announced its plans to launch artificial intelligence (AI) bots that allow consumers to transact, manage finances, and shop via messaging platforms."
  • BitPay Launches Secure Bitcoin Payments App, Targets New Bitcoin Adoption - "The BitPay app brings together BitPay's experience in merchant payments and BitPay's tools for consumer bitcoin payments into one place, opening up new possibilities for bitcoin adoption and use."

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. 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 24, 2016

Headline News from PaymentsNews.com - October 24, 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

  • Zelle p2p payments push to compete with Venmo now has 19 US FI backers - Tech Crunch - "The US finance industry is slowly getting its ducks in order to try to compete with the likes of PayPal-owned social payments platform Venmo. Today bank network operator Early Warning announced it has 19 US financial institutions signed up to a forthcoming payments network called Zelle, due to launch in early 2017. "
  • PayPal Gets Friendlier With Facebook - Wall Street Journal - "An integration with Facebook Inc., announced early Monday in a blog post by PayPal, will have the social network make the payments giant a way to pay across a broader range of new online shopping features. PayPal will also now make it possible to receive messages about any purchase, like a receipt, through Facebook’s Messenger chat service."
  • Android Pay partners with Visa and Mastercard to bring simple checkout to more places online - Google blog - "Android Pay users will soon be able to pay on hundreds of thousands of new sites where Visa Checkout or Masterpass are accepted using their preferred device authentication method - like fingerprint recognition. No longer will users have to remember multiple usernames and passwords in order to checkout, saving them time and hassle."
  • The restaurant table(t) is getting crowded - Tech Crunch - "Square deserves much credit for leading the way to software-based POS systems; however, Square initially was more about electronifying cash for micro merchants than a new central nervous system. Other companies like Toast, Revel, ShopKeep and Clover get more credit for focusing on the restaurant owner’s business needs — like menus, order routing and staffing — while embedding payments as a “mere” feature in their software."

ON THE WIRES

  • FIDO Alliance Announces New Authentication Specification Effort with EMVCo to Bring Added Security and Convenience to Mobile Payments - "The FIDO Alliance will develop a new technical specification into its FIDO authentication suite to fulfill use cases provided by EMVCo. The specification will provide a standard way for mobile wallet providers and payment application developers to support Consumer Device Cardholder Verification Method (CDCVM)1, enabling consumers to conveniently use on-device FIDO® Certified authenticators -- such as a fingerprint or "selfie" biometrics -- to securely verify their presence when making an in-store or in-app mobile payment."
  • CPI Card Group Introduces End-to-End Support for Open-Loop Digital Prepaid Cards - "CPI Card Group (Nasdaq:PMTS, TSX:PNT), a global leader in financial and EMV® chip card production and related services, today announced enhancements to its MYCA card ordering system that expand the gift card options available to program managers and financial institutions. CPI customers now have the ability to order and fulfill open-loop digital gift cards, which are delivered electronically through the MYCA platform and can be redeemed online."
  • Mastercard and BMO Make Fingerprint and ‘Selfie’ Payment Technology a Reality in North America - "Mastercard today announced the North American rollout Identity Check Mobile™, a new payment technology application that uses biometrics, including fingerprint and facial recognition, to verify a cardholder’s identity and simplify online shopping. BMO Financial Group (BMO) will be the first bank in the U.S. and Canada to offer Identity Check Mobile to its corporate customers starting in the first half of 2017."
  • Fifth Third Bank To Offer Real-Time Person-to-Person Payments - "Fifth Third Bank announced today that it will join Early Warning’s Zelle Network to offer customers a safe and fast way to make person-to-person (P2P) payments. With Zelle, money can be sent by simply using the recipient’s mobile number or email address. Fifth Third customers will have access to real-time payments with Zelle in 2017."
  • Verifone Introduces Advanced Commerce Capabilities & Fast Checkout in the Palm of Your Hand - Hello Experience! - "A part of the fully-integrated, Linux-based Verifone Engage family, the V400m is a result of the strategy at Verifone to offer new value at the POS by increasing loyalty and revenue opportunities for merchants and improving the consumer experience with real-time personalization wherever transactions are taking place. Whether it’s pay-at-the-table, curbside, or line-busting, its portability makes it an ideal solution for a variety of business scenarios."
  • Ingenico Group Launches First-of-Its-Kind Enterprise-Class mPOS Solution - "Ingenico Group, the global leader in seamless payment, today announced the launch of the iSMP4 Companion, a groundbreaking enterprise-class mobile point of sale (mPOS) device. Featuring the largest screen and battery capacity in its class, the lightweight iSMP4 makes it easy to accept all forms of payments – including EMV chip & PIN and chip & sign, magstripe and NFC/contactless – anywhere, anytime a merchant and consumer interaction may take place."

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. 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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