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November 23, 2016

Headline News from PaymentsNews.com - November 23, 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

  • Morgan Stanley Plans to Drop Out of R3 Blockchain Group - Wall Street Journal CIO Journal - "It’s the latest major bank to retreat from R3, which is exploring the use of the blockchain distributed database technology in Wall Street infrastructure. The WSJ reported Monday that Goldman Sachs Group Inc. dropped out of R3 when it let its membership lapse and declined to invest equity. Banco Santander SA also recently dropped out, Reuters reported."
  • Visa Chip Card Update: October 2016 - Visa Infographic (PDF) - "More than 1.7M merchants are now accepting chip cards, a 191% increase in the last year."
  • MASSIVE YEAR-LONG CREDIT CARD BREACH REPORTED AT MADISON SQUARE GARDEN - WABC - "The venue said it found signs of external unauthorized access in the last week of October. It would have impacted some customers who used their credit card to purchase merchandise and/or food/drink items at Madison Square Garden, the Theater at Madison Square Garden, Radio City Music Hall, Beacon Theater, and Chicago Theater between November 9, 2015 and October 24, 2016."
  • Winners and Losers From India's Cash Ban - Bloomberg (VIDEO) - "While India's war on cash may have hurt some, there have been at least two winners - Visa and MasterCard. Analysts predict that the world's largest payment networks will see a surge in transactions. Bloomberg's Harsha Subramaniam reports on "Bloomberg Markets.""
  • SECURITY AND CONVENIENCE WHEN SHOPPING ONLINE: DOES MONOPOLY OR COMPETITION KEEP US SAFER? - Disruptive Competition Project - "The European Banking Authority is currently redrafting a standard security process for banks and retailers that accept payments. This will implement the updated EU Payment Services Directive (II). It proposes that all online transactions follow a model called ‘strong authentication’. This involves transactions being approved by banks before they can be accepted. So in the future every time you make a simple online transaction with Zalando, BlaBlacar, Amazon, Carrefour or others it would need to be approved by a bank."

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!

November 22, 2016

Headline News from PaymentsNews.com - November 22, 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 warns of ‘serious disruption’ to online payments from EBA proposal - NFC World - "Visa is warning a proposal from the European Banking Authority (EBA) requiring every online transaction over €10 (US$10.61) to have additional authentication steps at checkout will “seriously disrupt online shopping and cause inconvenience for consumers”."
  • More people than ever will shop online over the holidays, spending to rise by 18% - TechCrunch - "The projections come from Visa, which has a stake in e-commerce through its PayPal and Apple Pay rival, Visa Checkout. The digital payments service today has over 15 million consumer accounts, hundreds of thousands of participating merchants, and support from over 1,400 financial institutions across 16 countries."
  • Blockchain startup R3 cuts fund-raising target to $150 million: source - Reuters - "Blockchain company R3 CEV has reduced the amount it aims to raise from bank members in its first large round of equity funding to $150 million from $200 million and is changing the structure of the deal, according to a person familiar with the plans."
  • Santander Quits R3 Blockchain Consortium - Coindesk - "Spanish banking giant Banco Santander is no longer a member of the R3 blockchain consortium, CoinDesk has learned."
  • Paytm transactions outdo combined physical card usage in India - Fabnewz - "Thanks in major part to the recent demonetisation move by the Indian government and the resulting cash crunch, Paytm, India’s leading mobile payment and e-commerce market player, has seen a financial windfall as people feel compelled to switch to digital wallets like those offered by Paytm. It has been confirmed now that the company is currently doing more transactions than the combined average daily usage of credit and debit Cards in India. This may prove to be a major boost for the Alibaba-backed group."

ON THE WIRES

  • Visa Modifies Policies on Debit Routing - "Visa is providing additional clarification that merchants can use the Common Debit AID exclusively to route U.S. debit transactions if they choose. Merchants are also not required to ask the cardholder to choose the AID or network for processing debit transactions. Merchants can continue to automatically ask, or prompt, a Visa cardholder to enter a PIN on in-person transactions, provided the cardholder can still use their card without a PIN if they prefer."
  • Conformance Technologies Partners with Base Commerce for PCI Compliance, Penetration Testing and PAN Scanning - "Conformance Technologies, a fast-growing provider of operating systems, education systems and expertise used in managing business compliance requirements, today announced that Base Commerce has selected its PCI ToolKit® solution for Payment Card Industry Data Security Standard (PCI DSS) merchant portfolio compliance validation. Base Commerce merchants will also have access to Conformance Technologies’ Cyber Attack Readiness ToolKit™, which provides cost-effective and easy-to-use penetration testing and primary account number (PAN) scanning services that fully meet tough PCI DSS requirements established last year."
  • U.S. is the Global Fraud Hotspot, with Online Fraud Attempts Expected to Increase 43% During Peak Holiday Season Due to EMV Shift - "As the busy holiday shopping season approaches, global retailers can expect a 12 percent growth in online fraudulent activity in the upcoming holiday season, compared with the same period last year—and lower ticket prices on fraudster-targeted gifts and products, according to new benchmark data from ACI Worldwide (NASDAQ: ACIW). The data*, based on hundreds of millions of transactions from retailers globally, provides actionable insights that merchants can leverage to protect against fraudulent activity this holiday season."

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 21, 2016

Headline News from PaymentsNews.com - November 21, 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

  • Goldman Sachs Drops Out of R3 Blockchain Group - Wall Street Journal - "Goldman Sachs Group Inc. has dropped out of the R3 CEV LLC blockchain group. The investment bank was one of nine original members of R3, founded in 2014 to explore the use of the distributed database technology in Wall Street infrastructure."
  • New Insights. New Opportunities to Seize. The 2015 Prepaid Consumer Insights Study - First Data blog - "This year’s Consumer Insights Study not only shows how vital a robust prepaid gift card program is to retailers’ broad marketing strategy, but also illustrates just how firmly mobile wallets and the popularity of online shopping have been embraced by consumers and their desire for faster and more personalized shopping experiences."
  • Hackers Program Bank ATMs to Spew Cash - Wall Street Journal - "In Taiwan and Thailand earlier this year, the criminals programmed bank ATMs to spew cash. Gang members stood in front of the machines at the appointed hour and collected millions of dollars. Earlier this month, the Federal Bureau of Investigation warned U.S. banks of the potential for similar attacks. The FBI said in a bulletin that it is “monitoring emerging reports indicating that well-resourced and organized malicious cyber actors have intentions to target the U.S. financial sector.”"
  • How Frequently Do Millennials Transact via Mobile? - eMarketer - "Millennials frequently use their mobile devices to pay for things, but concerns about identity fraud or security may be stopping more from transacting this way. August 2016 research found that though many millennial smartphone users in North America and the UK do transact via mobile—whether every day or a few times per week—there are others that only do so once a month or a few times per year."
  • European Millennials Hungry For (Good) Mobile Payment Technology - Perficient - "While more than half of the ~4,000 millennials from Germany, Italy, UK, and the Netherlands that took part in the study exhibit deep interest and a strong desire to leverage mobile devices for making payments, the lack of features and benefits today’s technology offers is preventing them from changing their habits. In addition, poor awareness and understanding of the technology currently available contributes to the slow adoption."
  • Towards a Trusted Framework for Identity and Data Sharing - Wall Street Journal CIO Journal blog - "As the economy and society move toward a world where interactions are primarily governed by digital data and transactions, our existing methods of managing identity and data security are proving inadequate. Large-scale fraud, identity theft and data breaches are becoming common, and a large fraction of the world’s population lacks the credentials needed to be part of the digital economy."

ON THE WIRES

  • Chase Pay App Debuts - "Starting today, Chase customers can download and pay with Chase Pay®, the new digital payment solution that works in stores, in app, and online. The Chase Pay app works at the more than 7,500 participating Starbucks® locations in the U.S. and nearly 1,400 Best Buy® stores."
  • Apple Pay Messaging at Point-of-Sale Drives 135% Increase in Mobile Payments Usage - "USA Technologies, Inc. (NASDAQ:USAT) (“USAT”), a payment technology provider of cashless and mobile transactions in self-serve retail, today announced the results of a six-month study testing targeted point-of-sale advertising of Apple Pay, which is transforming mobile payments with an easy, secure and private way to pay that’s fast and convenient. Based on the results showing a steady upward trajectory in mobile payment usage, USAT concluded that smartphone users shown digital advertising at point-of-sale through the ePort Interactive platform are more apt to pull out their iPhone to make a purchase, and even spend more."
  • Trustonic and Sequent Collaborate to Protect Mobile Services with TEE - "Sequent Software, the leader in bringing cards to mobile, and Trustonic, the leading provider of mobile device security, have announced a collaboration to increase the adoption of digital cards on smartphones and wearables. This integration of the Trustonic Hybrid Protection (THP) solution with Sequent Platform will increase the security of billions of digital cards and will bring about significant change in the fields of payment, transit, access control and hospitality applications."

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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