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November 11, 2016

Headline News from PaymentsNews.com - November 11, 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

  • Deutsche Bank: Capital Markets Expect Blockchain Impact Within 6 Years - Coindesk - "Three out of four capital markets participants now believe distributed ledger tech will see widespread use within the next six years, according to a new Deutsche Bank report."
  • Introducing Messenger Platform v1.3 and New Ways to Drive the Conversation - Facebook developer blog - "We are introducing a payments update that will allow businesses who are not integrated with Stripe/Paypal to process payments within both messages and webview. When a user makes a payment, Facebook will send the business single-use, tokenized credentials, which will allow them to integrate with their preferred payment provider. It also allows developers who manage multiple bots to integrate payments without requiring additional setup for each bot that they manage. This feature continues to roll out in a closed beta."
  • Majority of Digital Users in U.S. and China Regularly Shop and Purchase via E-Commerce - IAB - "When it comes to making a purchase, American shoppers are much more likely to use a credit or debit card (63% U.S. vs. 34% China on computer; 37% U.S. vs. 6% China on mobile). In China, payment is much more likely to take place via a digital payment service like PayPal or WePay (47% China vs. 15% U.S. on computer; 36% China vs. 17% U.S. on mobile) or a mobile wallet service like Apple Pay (21% China vs. 2% U.S.)."
  • Report: Airports Could Be the Next Big Beacon Hubs - Street Fight - "“In order for an app to communicate [with a beacon, one’s] Bluetooth needs to be turned on, which has been an obstacle [for the widespread adoption of beacon technology],” said Walle, adding that this obstacle appears to be dying out. “A few years ago an average of 30 percent of users had Bluetooth turned on, now it’s at 50 percent.”"
  • UK Government Embraces FIDO in Formal Digital Security Strategy - Find Biometrics - "The UK government is deepening its commitment to the FIDO Alliance’s authentication standards. It has just laid out its UK National Cyber Security Strategy in an 84-page document, and adherence to FIDO is an important component, observes the FIDO Alliance’s Brett McDowell in a new post on the Alliance’s website."
  • Where Do Consumers Still Need Biometric Authentication? - Mobile ID World - "But the personal computer is far from the final frontier for consumer biometrics. Anywhere that convenience is desired and strong security is needed, biometrics can be applied to make life easier and safer for consumers."
  • Fooling Facial Recognition Systems - Schneier on Security - "This is some interesting research. You can fool facial recognition systems by wearing glasses printed with elements of other peoples' faces."
  • A short history of 150 years of paper currency in India - Quartz - "Until the 18th century, silver and gold coins were commonly used in India. But as private European trading companies established their own banks in the region, such as the Bank of Hindostan in Calcutta, they began issuing the very first versions of Indian paper notes, which were initially just text-based."

ON THE WIRES

  • Vantiv Announces Agreement to Acquire Moneris Solutions USA - "Vantiv, Inc. (NYSE: VNTV), a leading provider of payment processing services and related technology solutions, announced today its agreement to acquire Moneris Solutions, Inc. (Moneris USA) from Moneris Solutions Corporation (Moneris) for $425 million USD, subject to certain adjustments. Schaumburg, IL-based Moneris USA is the U.S. subsidiary of Moneris, which is a joint investment between BMO Financial Group and Royal Bank of Canada (RBC)."
  • AirPlus and Airbnb to Integrate Booking and Payment Solution - "The companies are working on an integrated payment process so that the traveler will be able to book accommodation on Airbnb and automatically centrally bill the corporate account. Travel managers can ensure optimal transparency and perform data analysis with additional information such as cost center, project or employee number."
  • Flywire Expands Cross-Border Tuition Payment Service in Australia - "Flywire, a leading provider of cross-border payment solutions, has expanded in Australia, opening a new office in Sydney to support its local operations. The move builds on Flywire’s existing Asia-Pacific presence in Shanghai, China, Singapore and Tokyo, and strong growth worldwide."

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

  • Scott Loftesness, a Glenbrook founding partner, formally retired October 31. Read Carol Coye Benson's Payments Views post about our co-founder's impact on the industry and on Glenbrook. If you know Scott, too, leave a comment!
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Among other positions, we're looking for an East Coast engagement manger. Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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!

November 10, 2016

Headline News from PaymentsNews.com - November 10, 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

  • Siri can now send money via PayPal - TechCrunch - "PayPal users can now send and request payments using simple voice commands via Siri on iOS 10 on iPhone and iPad. The online payments company is making the new feature available to users in 30 countries, and in a number of languages, and it requires only that the iOS app be installed with a logged in user account."
  • Toast lands $1.5M for cross-border payment services for migrant workers in Asia - TechCrunch - "Fintech is blowing up in Southeast Asia. Toast, a startup that helps make cross-border payments easier and cheaper for migrant workers living overseas, is the latest to help itself to money from investors. The Singapore-based startup today announced that it has closed a $1.5 million round that it is billing as a ‘pre-Series A’ raise. Aetius Capital led the round, which included participation from US-based 1776 and Australian financial services company Pepper Group."
  • Google Wallet unveils payments app for web browsers - NFC World - "Google has unveiled a new Google Wallet web app that will allow users to send money to friends and family through a web browser. The recipient doesn’t need the Google Wallet app to receive the payment, the company says, but senders need to link their debit card to their Google account and have access to a browser."
  • Hyperledger's Next Act: A Blockchain Bridge to China - Coindesk - "Blockchain consortium Hyperledger, for example, was initially founded with support from companies in almost exclusively Western nations. Yet, the consortium has grown this year to include more than 20 members headquartered in China and 10 from Japan and South Korea, with a spattering of members from other nations represented as well. With that success, Hyperledger executive director Brian Behlendorf has faced a new challenge, creating a system that allows information to flow between its multilingual members as seamlessly as data on a blockchain."
  • Paytm fortifying its offline payment network, aims to hire over 10,000 agents - IBT - "The recent demonetisation decision of the PM Narendra Modi government could be a shot in the arm to mobile payment sector with the ban on the old Rs 1000 and Rs 500 notes. Paytm, a leading mobile payments and commerce platform has announced that it will be improving its offline payment network."
  • Regulation of the Internet of Things - Schneier on Security - "Your security on the Internet depends on the security of millions of Internet-enabled devices, designed and sold by companies you've never heard of to consumers who don't care about your security."

ON THE WIRES

  • Citi Launches Global API Developer Hub to Enable Open Banking - "Today, Citi announced the launch of a new global API Developer Hub (developer.citi.com) to rapidly connect with developers and enable them to build innovative client solutions faster than ever before. The global developer platform is one of the most comprehensive to date in the financial services industry. The release of Citi APIs marks the evolution of Citi’s technology to open architecture, which will facilitate collaboration and partnerships with FinTech companies and consumer brands across the globe to benefit customers. Through the global API Developer Hub, Citi will grant developers access to APIs across eight usage categories, including account management, peer to peer payments, money transfer to institutions, Citi rewards, investment purchases and account authorization. Additional categories will be added over time."
  • Citi Unveils Global Digital Wallet: Citi Pay - "Citi Pay will be made available to Citi customers for online and in-app purchases. As a digital extension of their current card relationship, Citi customers will be able to make online and in-app purchases using the same Citibank online user ID and password that they currently use to manage their existing online relationship with Citi. Citi is partnering with Mastercard® to leverage its digital payment service, Masterpass®, to enable the online and in-app transactions. This will allow Citi customers to use Citi Pay at hundreds of thousands of merchants across 33 countries at launch. For Android users, the digital wallet also enables Citi cardholders to make in-store purchases by tapping their Android mobile devices at any NFC-enabled point-of-sale terminal."
  • Cardtek and DC Payments Partner to Introduce Canada's First Mobile Payment Solution for Debit Cards - "Cardtek's MSM solution is integrated into DC Payments card management ecosystem as a gateway connecting issuers, DC Payments and a variety of Tokenization Service Providers (TSP), beginning with Interac, Canada's leading payments brand. MSM enables advanced card credential management services including deployment and life cycle management - tuned for the major digital wallets available in the market."
  • Global Payments Announces Support for Apple Pay in PARKnSHOP - "Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology services, now supports PARKnSHOP - the ability to accept credit and debit card payments with Apple Pay - which is transforming mobile payments with an easy, secure and private way to pay that is fast and convenient in Hong Kong."
  • CPI Card Group Sees Strong Market Adoption of Card@Once® Instant Issuance Solution, Surpasses 1,100 US Bank and Credit Union Customers - "CPI Card Group (Nasdaq:PMTS) (TSX:PNT), a global leader in financial and EMV® chip card production and related services, today announced that more than 1,100 banks and credit unions are actively leveraging its SaaS-based Card@Once® instant issuance solution to successfully provide in-branch, instant issuance of EMV-enabled debit and credit cards to their cardholders."
  • SoftBank and Zimperium to Offer Security Solutions for Mobile Devices in Japan - "In this environment, Zimperium's mobile security solution incorporates an AI-powered threat detection engine that is built to detect both known and unknown threats. The company offers a wide range of products for enterprises and end-users, including security solutions for smartphones, security-conscious software development kits for fintech apps and other categories, and tools for companies to collectively manage the security of multiple devices. Zimperium is also dedicated to finding and helping fix flaws across the entire mobile ecosystem, including both Android and iOS. With its detection of "Stagefright," a bug that impacted the global Android ecosystem in 2015, the company has built a strong track record for cutting-edge research."
  • PAX Launches Next Generation Mobility D220 Payment Terminal - "This elegantly designed paperless point of sale terminal powered by Linux operating system and comes packed with state-of-the-art technology never seen before in mobile payment devices, including a 4-inch full-body dynamic colour touch screen, high performance Cortex A9 processor, longer lasting battery with 3050mAh capacity, and wireless power charging."

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

  • Scott Loftesness, a Glenbrook founding partner, formally retired October 31. Read Carol Coye Benson's Payments Views post about our co-founder's impact on the industry and on Glenbrook. If you know Scott, too, leave a comment!
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Among other positions, we're looking for an East Coast engagement manger. Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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!

November 09, 2016

Headline News from PaymentsNews.com - November 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

  • Study says only 8 percent of shoppers use retailer apps. Should they give up? - Marketing Land - "A new survey from inMarket offers some insights and a bit of contradictory data to the growing body of information about in-store smartphone usage. The company examined the mobile shopping behaviors of 2,500 US smartphone owners who used their devices in stores."
  • Mobile Payments in the US Growing Fast, but Still Far from Mass Adoption - eMarketer - "Despite double-digit growth this year and next, Americans’ use of mobile wallets like Apple Pay, Android Pay and Samsung Pay, as well as branded apps that include mobile wallets like the Starbucks app, Walmart Pay and CVS Pay, will not reach mass adoption in the foreseeable future. This year, 38.4 million Americans 14 and over will have used their mobile phones to pay at the point of sale at least once in the preceding six months. That’s just 19.4% of US smartphone users. By 2020, that figure will grow to 33.1% of smartphone users."
  • India's Ill-Timed Paper Chase - Bloomberg Gadfly - "Outlawing high-denomination banknotes, which account for 86 percent of the 16.4 trillion rupees ($245 billion) of currency in circulation, will sting India Inc. Still, the benefits of Tuesday night's surprise demonetization could be both large and enduring."
  • Don’t panic. Here’s Quartz’s 48-hour survival guide to living cash-free in urban India - Quartz - "However, in the world’s fastest-growing startup ecosystem, it is remarkably easy to imagine going cash-free in urban India—at least for the next 48 hours. Everything from getting to work to stocking your fridge is, luckily, just a click away."
  • Mobile UX: A First Look at “Second Look” Transaction Alerts from Capital One - Fin ovate - "Fast-forward six years and Capital One owns the innovation mantle, at least in the United States. It has Capital One Labs, it runs an innovation centre in the Bay Area, and now offers the most advanced set of mobile apps in the card-issuing business."
  • Mobile-only bank Pepper gears up for launch in Israel - Banking Technology - "Israel’s Bank Leumi is gearing up for the launch of its new digital banking subsidiary, Pepper. It is expected to open its virtual doors for business before the end of 2016. Pepper will be available on mobile only. It will offer savings and lending products, with no checking account fees."

ON THE WIRES

  • Verifone and ATIO Group Partner on Comprehensive Forecourt and mPOS Solution for Petroleum Retailers in Mexico - "Verifone (NYSE: PAY), a world leader in payment and commerce solutions, and ATIO Group, a leading provider of retail fuel technology in Mexico and other Latin American markets, have announced a partnership to provide integrated payments technology to Mexico’s petroleum retailers. Mexico is the sixth largest consumer of motor gasoline and diesel with more than 11,000 filling stations across the country, and its energy market deregulation allows foreign companies to import, own assets, and sell other fuel brands."

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

  • Scott Loftesness, a Glenbrook founding partner, formally retired October 31. Read Carol Coye Benson's Payments Views post about our co-founder's impact on the industry and on Glenbrook. If you know Scott, too, leave a comment!
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Among other positions, we're looking for an East Coast engagement manger. Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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!

November 08, 2016

Headline News from PaymentsNews.com - November 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

  • Wal-Mart Pay in talks with several mobile wallet companies - Reuters - "Wal-Mart Stores Inc (WMT.N) is in talks with several mobile wallet companies to offer more payment options in its Wal-Mart Pay app, an executive at the world's largest retailer said, after signing up JPMorgan Chase & Co (JPM.N) last week."
  • Bank halts online transactions after money stolen from 20,000 accounts - Ars Technica - "Tesco Bank customers remain locked out from making current account transactions, two days after it was revealed that money had been stolen from 20,000 accounts over the weekend."
  • Stripe launches Works With Stripe, a directory of apps that integrate with its payments - Tech Crunch - "Stripe, the company that competes against the likes of PayPal by letting businesses add payment services into their apps and websites with a few lines of code, is today launching a new directory that plays into its bigger ambition to position itself as not just a payment tech startup, but a wider platform for business services."
  • Cash Is Still King in Japan, and That Could Be a Problem for the BOJ - Bloomberg - "More than 101 trillion yen ($966 billion) of cash was circulating at the end of October. It was used for more than 80 percent of transactions by value in 2014."
  • European millennials demand higher standards for mobile payments services - NFC World - "The survey — based on the responses of 4,000 consumers aged 18-34 across Germany, Italy, the Netherlands and the UK — finds that in all four countries millennials would prefer to see mobile payments services delivered by either their banks — especially in the Netherlands and the UK — or by PayPal (Germany and Italy)."
  • Citi introduces Touch ID - Finextra - "Citibank announces the launch of Touch ID Sensor authentication service in Hong Kong, allowing for a full suite of mobile banking services, including transaction, investment and enquiry, to be performed via its Citi Mobile® App on the iOS platform with iPhone 5s or later models1."

ON THE WIRES

  • Net Element Launches Proprietary Gift Card Software Application for Smart Payment Terminals - "Net Element's omni-channel gift and loyalty platform enables small-to-medium size businesses to centralize their customer data spanning in-store, online, and via social and mobile channels. Building on this platform, the newly launched Unified Payments gift card application is now fully integrated with Poynt's "terminal" and "register" applications and works seamlessly with any other payment acceptance application utilizing Poynt's payment framework."
  • Qondado Wins Patent For Digital Debit™ Mobile Payment System - "Qondado's objective in offering the GUI design license to third parties is to enable a multi-platform GUI design standard for device based transactions into a position of maximum usability adoption for first-factor authentication and payment authorization."

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

  • Scott Loftesness, a Glenbrook founding partner, formally retired October 31. Read Carol Coye Benson's Payments Views post about our co-founder's impact on the industry and on Glenbrook. If you know Scott, too, leave a comment!
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Among other positions, we're looking for an East Coast engagement manger. Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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!

November 07, 2016

Headline News from PaymentsNews.com - November 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

  • A Warning for Fintech - Bloomberg - "The hacking of Tesco Bank may be a negative for the company's reputation and stock price. But the fallout will be felt across the wider fintech industry."
  • Digital Asset Holdings Targets Systemically Important FIs With New Blockchain Tech - Coindesk - "Digital Asset Holdings has revealed new blockchain technology it believes could one day connect the world's most important financial institutions. Instead of a single "full stack" of its own applications, languages and execution capabilities, the company (headed by former JP Morgan executive Blythe Masters) is going for a more modular approach with its new Global Synchronization Log (GSL), revealed for the first time late last week."
  • Shades of Gray: Brazil’s Odd Check Clearing Rule - Deluxe blog - "Brazil’s banking industry association, FEBRABAN, caused a minor uproar earlier this year when it made the .PNG file its official legal format for scanned check images. While the move got little attention outside of its narrow industry niche, it had many banks complaining about operations nightmares and clamoring to get the decision reversed."
  • Banking Technology Vendors Feel the Pinch - Wall Street Journal - "One reason cited by analysts and executives is a delay in expected interest-rate increases, which lenders have been counting on to boost income. The rate outlook has pressured revenue gains, leading banks to push back technology budgets to next year. Also, they say, banks are so focused on fixing compliance problems that they’re working on those issues instead of upgrading core systems that can generate revenue."
  • The C-Suite’s Perspective on Cybersecurity and Liability - Leclair Ryan Information Counts blog - "Recently, IBM surveyed more than 700 C-Suite executives in 18 industries and 28 countries about their views on cybersecurity. Ninety-four percent of those interviewed believe that their respective companies will experience a cybersecurity incident in the next two years. Despite such widely-held acceptance of the inevitability of an incident, only sixty-five percent of C-Suite executives expressed a confidence in their cybersecurity plans."

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

  • Scott Loftesness, a Glenbrook founding partner, formally retired October 31. Read Carol Coye Benson's Payments Views post about our co-founder's impact on the industry and on Glenbrook. If you know Scott, too, leave a comment!
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Among other positions, we're looking for an East Coast engagement manger. Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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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