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November 18, 2016

Headline News from PaymentsNews.com - November 18, 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

  • IRS to Coinbase: please identify active US traders between 2013 and 2015 - Ars Technica - "As part of an ongoing tax evasion investigation, the Internal Revenue Service has asked a federal court to force Coinbase, a popular online Bitcoin wallet service, to hand over years of data that would reveal the identities of all of its active United States-based users."
  • PayPal Cross-Border Consumer Research 2016 - PayPal Global Summary Report - "China is the most popular cross-border online shopping destination for global online shoppers, followed by USA and UK. Portugal, Peru and Ireland are the countries where cross-border online shopping is most prevalent. Japan and Poland have the lowest incidence of cross-border online shoppers."
  • 6 Takeaways From CoinDesk's Q3 State of Blockchain - Coindesk - "Once dedicated solely to developments on the bitcoin blockchain, the report now is divided into two sections, one on public blockchains (profiling bitcoin and ethereum) and the other on enterprise blockchains (capturing startups like R3CEV, Chain and DAH). Our full report offers a number of takeaways, though most are centered squarely on how this delineation is impacting the market."
  • UK bank to extend trial of behavioural biometrics security - NFC World - "UK bank Natwest has trialled a behavioural biometrics system designed to offer continuous authentication throughout an online banking session, using more than 500 behaviour patterns to identify users and prevent fraud from unauthorised logins and automated attacks."
  • Apple patent shows Siri inside iMessage to help with scheduling, payments and more - TechCrunch - "The patent, which was first spotted by the AppleInsider blog, explains how Siri could be used during a chat session to answer questions, schedule meetings, offer directions, provide weather information, check movie times, book dinner reservations, complete financial transactions and more."

ON THE WIRES

  • Retail Realm's mAX Pay Extends Microsoft Dynamics AX in Payment Processing - "Retail Realm, a multinational retail-centric software developer and distributor, announces the global release of RR mAX Pay, an integrated software solution that maximizes Microsoft Dynamics® AX in the retail payments space. The company recently showcased mAX Pay at the Microsoft Dynamics US Industry Summit as a complete Dynamics AX retail payments integration with global industry leaders Shift4 Corporation and Ingenico Group."
  • SkyMode among the First E-commerce Solutions to Support Apple Pay on the Web - "US mobile e-commerce sales are forecast to exceed $335 billion annually and represent more than half of all e-commerce transactions by 20201, according to eMarketer. Apple Pay for the Web, which has quickly become the 4th most popular online payment platform2, and similar solutions, such as Google's soon-to-be-available Android Pay, help increase conversion rates at the point of payment and are the first in a series of needed innovations to enhance the mobile purchase experience for retailers and their customers and close the mobile monetization gap."

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!

November 17, 2016

Headline News from PaymentsNews.com - November 17, 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

  • Visa’s EMV Debit Routing Practices Attract the Attention of the FTC And the Fed - Digital Transactions News - "The Federal Trade Commission is investigating Visa Inc.’s practices involving EMV debit card transaction routing, Visa disclosed Tuesday. And the Federal Reserve earlier this month posted guidance about EMV debit routing that, according to retailer trade groups, was issued in response to their objections to Visa’s practices at the point of sale."
  • Android Pay launches in Poland - NFC World - "Android Pay has begun rolling out across Poland, allowing consumers with compatible devices to make payments at more than 400,000 retail locations in the country that accept contactless payments. The service launches with support from Mastercard and Visa along with Alior Bank, Bank Zachodni WBK and T-Mobile Banking Services."
  • Chinese IoT Firm Siphoned Text Messages, Call Records - Krebs on Security - "A Chinese technology firm has been siphoning text messages and call records from cheap Android-based mobile smart phones and secretly sending the data to servers in China, researchers revealed this week. The revelations came the same day the White House and the U.S. Department of Homeland Security issued sweeping guidelines aimed at building security into Internet-connected devices, and just hours before a key congressional panel sought recommendations from industry in regulating basic security standards for so-called “Internet of Things” (IoT) devices."

ON THE WIRES

  • Retailers Demand Details from Visa on Response to Fed Rule Violations - "Today, merchant associations representing tens of thousands of U.S. merchants sent a letter to Visa CEO Charles W. Scharf and CEO-Designate Al Kelly in response to a declaration by the Federal Reserve that the technical specifications and rules provided to merchants as part of the EMV migration violate federal law. The letter, addresses the November 2nd declaration made by the Federal Reserve that no payment card network can directly or indirectly force retailers to deploy a technology or enforce a rule that inhibits merchant routing choice, and that any technical specifications that inhibit merchant routing choice do not comply with current regulation. Just this week, Visa disclosed that the Federal Trade Commission was investigating Visa's rules related to routing."
  • Canadian Payment Methods and Trends Report finds cash is king, for now - "The Canadian Payment Methods and Trends (CPMT) report released today shows that cash and other paper transactions, such as cheques, are still leading, but in Canada new payment channels are a growing share of the market. These trends reinforce the need for Canada to adapt its systems as the global payments ecosystem changes, which is what Payments Canada is doing with its Modernization Initiative."
  • CanPay Debuts First Debit Payment Solution For The Cannabis Industry - "To ensure privacy and security, all purchases are made using non-identifiable, single-use, and random payment tokens generated in the CanPay App. A consumer who wants to pay with CanPay simply downloads the CanPay App to their smart phone from www.CanPayApp.com, creates a CanPay account and links their checking account, and, upon approval, can begin paying at any participating retailer. The consumer logs into their CanPay app at the time of purchase and scans the random token into the retailer's point of sale device. Funds are electronically transferred directly from the consumer's checking account to the retailer's compliant bank account."
  • ENOUGH IS ENOUGH: NEW DATA SHOWS CONSUMERS WANT GOVERNMENT OUT OF PAYMENTS - "More than six in ten consumers think the Durbin Amendment should be repealed if merchants are not passing the savings on to consumers. A study by the Federal Reserve confirms that merchants are not handing over the savings they receive from the Durbin Amendment. Instead they are pocketing six to eight billion dollars every year since the regulation was implemented—all of which should have been passed along to customers in the form of lower prices."
  • LendingTree Acquires CompareCards - "LendingTree, Inc. (NASDAQ: TREE) announced today that it has acquired Iron Horse Holdings, LLC, which does business under the name CompareCards. CompareCards is a leading online source for side-by-side credit card comparison, comprehensive credit education and credit health management. CompareCards provides consumers with one centralized location for pertinent credit card information needed to find the best card for their needs."

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!

November 16, 2016

Headline News from PaymentsNews.com - November 16, 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

  • GOP, Business Groups Launch Campaign to Constrain CFPB - Wall Street Journal - "Republican lawmakers and business groups are crafting plans to rein in the federal government’s consumer-finance watchdog in the wake of Donald Trump’s presidential victory."
  • Blockchain Capital Dries Up as Big FinTech Deals Decline - Coindesk - "Cash is drying up for bitcoin and blockchain startups amid a broader decline in FinTech funding, according to new research from KPMG and CB Insights. The report, published today, shows that for the third straight quarter, VC investment in startups using distributed ledgers declined."
  • Singapore to Test Digital Currency in Latest Fintech Initiative - Bloomberg - "The “proof-of-concept” project, which also involves the city’s stock exchange and eight banks, is aimed at simplifying the payments process and reducing transaction costs, Managing Director Ravi Menon said in a speech Wednesday. It may include cross-border transactions with the participation of another central bank in the future, he said."
  • UK bank celebrates blockchain contactless payments trial - NFC World - "Metro Bank in the UK has successfully trialled a blockchain retail payment system, allowing consumers to make purchases from merchants equipped with contactless terminals, with merchant and consumer balances updated in real time."
  • EXPLORE: Ecobank Mastercard RBL Bank RBL Bank brings Masterpass QR mobile payments to India - NFC World - "Customers of India’s RBL Bank can now make QR code-based mobile payments using Mastercard’s Masterpass QR mobile payments solution, which has been integrated as a payment option within the bank’s OnGo mobile wallet."
  • Change Coming to Prepaid: Part I - FIS payments blog - "From card makers to processors, any company touching the open-loop prepaid industry will be affected by the recent final ruling by the Consumer Financial Protection Bureau (CFPB), which will take effect on Oct. 1, 2017."

ON THE WIRES

  • Societe Generale Launches a Next-Generation Card Integrating a Dynamic Security Code - "This innovative solution, OT MOTION CODETM, developed by Oberthur Technologies2, consists in replacing the 3-digit security code usually printed on the back of the card with a mini-screen displaying a new "dynamic" code which is refreshed automatically and randomly every hour3. Thus, if the card data gets stolen, the 3-digit security code becomes useless within an hour, preventing fraudsters from re-using the information on e-commerce sites. Designed to help fight cyber crime, this solution is also very simple as it changes nothing on the online purchasing process."
  • VirtusaPolaris Announces Launch of its OpenBank API Accelerator to Advance Financial Technology Innovation - "VirtusaPolaris, the market-facing brand of Virtusa Corporation and Polaris Consulting & Services, Ltd., a leading worldwide provider of information technology (IT) consulting and outsourcing services, today announced the launch of the VirtusaPolaris OpenBank API Accelerator at the inaugural Singapore FinTech Festival. Addressing the market need for rapidly developing solutions for API banking, the OpenBank API Accelerator provides financial services and banking organizations with the tools they need to create new product propositions, add digital-native capabilities, and build new business models, as well as partner with FinTech firms more efficiently and effectively."
  • AGS Transact Technologies Introduces Universal Payments Capabilities to India in Partnership with ACI Worldwide - "AGS Transact Technologies Limited, India’s leading end-to-end payment solutions provider for the banking, retail and petroleum sectors, today announced a strategic alliance with ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions. This alliance will bring ACI’s Universal Payments capabilities to the Indian market via a comprehensive cloud-based managed services offering that integrates cross-channel payments, fraud prevention and transaction management capabilities."

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!

November 15, 2016

Headline News from PaymentsNews.com - November 15, 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

  • Apple’s NFC restriction hits mobile payments innovation, Australian banks claim - NFC World - "The group of Australian banks taking on Apple over access to the NFC technology within iPhone handsets says the restriction is not only preventing the introduction of mobile wallet services across multiple platforms but also proving detrimental to continued investment into mobile payment apps."
  • Apple Pay now lets nonprofits take donations - TechCrunch - "Apple announced this morning that its payments service Apple Pay will now support the ability to make donations to nonprofits, starting today in the U.S. This includes both Apple Pay on the web, where it can be integrated into websites’ checkout flow, as well as within mobile applications. The changes are rolling out just ahead of the holidays, something participating nonprofits hope will have a big impact on their ability to raise funds during this time of increased charitable giving."
  • Paytm hits record 5 mn transactions a day - Business Standard - "Following the ban on Rs 500 and Rs 1,000 notes, mobile wallets, debit and credit cards, online money transfers have seen a rise of 200%, industry experts have observed. According to senior executives at Paytm, the Vijay Shekhar Sharma-led company would be able to close the financial year with Rs 24,000 crore worth of transactions processed on the platform."
  • The Nigeria Inter-Bank Settlement System, the Central Bank of Nigeria, Banks and Telecommunication Deepen Financial Inclusion with mCASH - Payments Afrika - "As part of the renewed efforts to further drive the financial inclusion mandates of the Central Bank of Nigeria (CBN), NIBSS in collaboration with Banks and the leading Telecommunications companies have launched mCASH. This is an innovative solution designed to facilitate low-value retail payments, grow e-payments by providing accessible electronic channels to a wider range of users and to further enhance financial inclusion in Nigeria by extending e-payment benefits to Payers and Merchants at the bottom of the pyramid where usage of cash has been predominant."

ON THE WIRES

  • Samsung Pay Announces ‘Samsung Rewards’ Program, First-of-its-Kind Incentives System for a Digital Wallet - "Continuing to drive innovation in the digital wallet experience, the Samsung Pay service today announced a first-of-its-kind incentives program for a mobile payments platform in the U.S.: the “Samsung Rewards” program, coming this week to Samsung Pay. For every transaction users conduct with Samsung Pay, enrollees in Samsung Rewards will earn points, which can eventually be redeemed for a variety of items, including gift cards to some of nation’s most popular retailers, prepaid Samsung Rewards Visa® gift cards, Samsung products and more."
  • US Payments Forum launches new mobile and contactless payments effort - "The U.S. Payments Forum has announced the Mobile and Contactless Payments Working Committee to explore these opportunities and challenges, identify possible approaches, and develop practical implementation guidance and best practices for the variety mobile and contactless payments solutions being implemented in the US."
  • Warply Engage Marketing Cloud With New Product Features, Including Mobile Payments & Mobile Couponing - "Warply is launching its m-couponing and mobile payments add-ons, that provide credit transfer (SEPA) and card payments, in an effort to put its marketing and analytics stack within the last mile of the customer journey. Warply emphasizes on seamless customer experiences at the physical or digital point of sales, with benefits and payments being an essential part of a convenient customer check out process."
  • ProfitStars Introduces RemitPlus Express for Simplified Remittance Processing - "Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its ProfitStars® division today announced a fully hosted version of its proven remittance solution, RemitPlus® Express™."
  • linked2pay Adds Real-Time Payments to Bank Centric Payments - "linked2pay, an award-winning banking and payments technology provider, and Push Payments, a real-time payments platform provider announced today that real-time payments are now an option on the Bank Centric Payments platform. This enables partners on the bank integrated platform to offer both Real-Time and ACH payments, including same day, as their own fully integrated, white-labeled solution."
  • Shift4 is Integrating to the Oracle Payment Interface - "Payment gateway provider Shift4 Corporation today announced that they are writing to the Oracle Payment Interface (OPI), providing fast, secure and reliable payment processing to thousands of merchants who use Oracle's point-of-sale and property management solutions."
  • PayZang announces the launch of a new payment portal featuring new services for SAAS companies and other industries. PayZang also offers a new payment API developed to enhance and improve business finance. - "The new technology offered by PayZang improves the efficiency and overall performance of all businesses. Additionally, the growing SAAS industry now has a valuable opportunity to collaborate with a merchant services provider equipped to handle its unique needs in today's changing commercial landscape. The new API eliminates the need for SAAS and other merchants to become fluent in "geek speak" by providing an advanced technological platform that is user-friendly and easy to implement."
  • Blackhawk Network and Giant Eagle Offer Tips to Make the Most Out of Gift Cards - "Gift cards have been the most requested holiday gift for 10 straight years, according to a recent study by the National Retail Federation[1]. Additionally, a September study by Blackhawk[2]—a pioneer of gift cards, payment tools and rewards delivered via a robust and convenient network—found that the majority of people surveyed (89 percent) plan to purchase at least one gift card this winter and agree that gift cards are easier to purchase than traditional holiday gifts."

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!

November 14, 2016

Headline News from PaymentsNews.com - November 14, 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

  • Visa and BioConnect work to enable multiple biometrics on mobile apps - NFC World - "Visa is working with biometric identity platform provider BioConnect to enable multiple methods of biometric authentication through a single mobile app. This means that if the consumer’s default biometric authentication method fails, they can use an alternative biometric method to gain access to their device or service."
  • Citi joins mobile pay as consumer adoption reaches highpoint - Mobile Commerce Daily - "Mobile pay is expected to increase at an 80 percent compounded rate annually by 2020, which has prompted a slew of financial institutions, technology providers and retailers to create their own platforms. Citi is the latest to join in the hopes to appeal to consumers who are interested in the convenience and not lag behind with its mobile pay platform that allows users to pay on apps, Web sites and Android users to pay in store."
  • Australia Should Scrap Big-Denomination Bank Notes, UBS Says - Bloomberg - "In Australia, 92 percent of all currency by value is in A$50 ($38) and A$100 notes, the larger of which is “rarely seen,” according to the UBS report. Removing bigger denominations would boost digital payments in a country where the use of cash payments is continuing to fall, the analysts wrote. "
  • A 10-Digit Key Code to Your Private Life: Your Cellphone Number - New York Times - "The cellphone number is more than just a bunch of digits. It is increasingly used as a link to private information maintained by all sorts of companies, including money lenders and social networks. It can be used to monitor and predict what you buy, look for online or even watch on television."

ON THE WIRES

  • US Payments Forum Launches New Mobile and Contactless Payments Effort Under Broadened Payment Focus - "This new working committee comes as part of the U.S. Payments Forum’s expanded priorities to address a variety of new and emerging payments technologies that protect the security of, and enhance opportunities for, payment transactions within the U.S. In addition to contactless and mobile payments and the ongoing migration to chip technology, some of the other topic areas the Forum plans to address include tokenization, card-not-present security solutions, and encryption."
  • Experian's evolution of trended data goes beyond credit scores to predict risk and future financial behavior - "The value in trended data is a combination of the right type of data sources and solutions which interpret what the data reveals. Extended Trade's unique capability is to uncover granular data and provide strategic actions for lenders on how and what to market to consumers. Understand how a consumer spends, their current estimated interest rates, potential profitability and the number of months remaining on their loan term for each trade. This unique data and technology allow lenders to offer consumers the right financial products based on their needs and behaviors."
  • Mobey Forum: Is the Customer Now the Weakest Link in Risk Evaluation of Mobile Financial Services? - "The Risk Review: Mobey Forum’s Guide to Risk Management in Mobile Financial Services contends that, in addition to device and software vulnerabilities, banks must pay particularly close attention to the high risks associated with the criminal targeting of end-users, through social engineering and phishing, for example, together with fraudulent impersonation of customers during the enrollment and installation of new apps and services."
  • Global Payments and American Express Announce Agreement for Processing and Servicing Solutions in the UK - "Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology services, and American Express today announced an agreement that will enable Global Payments to provide enhanced payment acceptance solutions to American Express small merchants in the UK. These technology solutions include payment processing, settlement, reporting, support and statementing services on behalf of American Express."
  • Vesca to be First Out in Japan with Verifone Engage Offering Enhanced Payment Services and Solutions to Merchants - "While a cash-based economy in which cards and other forms of payment amount to comparatively little volume, the local EMV liability shift deadline and the Olympic Games Tokyo coincide in 2020 giving Japanese merchants the opportunity to install the capability to accept multiple payment forms. To bring enhanced world payment standards to Japan, Vesca will offer the Verifone Engage V200c countertop and P400 PIN pad to provide increased speed and security, and an interactive user interface. These devices meet Japan’s EMV requirements and enable merchants to personalize the customer shopping experience with targeted offers and loyalty programs for additional revenue streams at the point of sale (POS)."
  • Bank of the West Announces New Unlimited Cash Back Mastercard with No Annual Fee - "Cardholders Earn 3% Cash Back on Dining, Groceries and Gas; 1% Cash Back on All Other Purchases; Save with Automatic Cash Back Rewards Applied to Statement Each Quarter"

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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