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 is eating the world - Benedict Evans - "As we pass 2.5bn smartphones on earth and head towards 5bn, and mobile moves from creation to deployment, the questions change. What's the state of the smartphone, machine learning and 'GAFA', and what can we build as we stand on the shoulders of giants?"
- Reward Credit Cards: How Much Cash Can You Get? - Wall Street Journal - "Cash-back rewards cards are increasingly popular with shoppers, prompting financial institutions to develop programs that, in some cases, return as much as 10% of spending. But the recent explosion in cash-back cards has some industry executives worried the market is getting overheated. "
- US Federal Reserve Releases First Distributed Ledger Research Paper - Coindesk - "“An important goal of this paper is to examine how this technology might be used in the area of payments, clearing, and settlement and to identify both the opportunities and challenges facing its practical implementation and possible long-term adoption.”"
- 'Sovereign' Blockchains Will Change Monetary Policy, Bank Paper Argues - Coindesk - "“Once such a sovereign blockchain is created with a [central bank cryptocurrency], other financial instruments such as bonds, equities, derivatives and even land and car registries could migrate to the same sovereign blockchain. This would allow the central bank to conceivably see the creation of all commercial bank assets in an economy.”"
- eMarketer Cuts Estimates for Ecommerce in India - eMarketer - "The downgrade largely reflects the Indian government’s recent efforts to crack down on illegally obtained or undeclared money, banning large denominations of the rupee. It is a significant change for the ecommerce sector because cash on delivery payments are a widely used method for digital transactions in India. In a market where the population is relatively “under-banked,” COD becomes the most effective way of buying online."
- Year Ahead 2017: Machine Learning Reboots Cybersecurity - CIO Journal (WSJ) - "“You can’t know all of the threats. Traditional controls alone aren’t viable, when we are sending petabytes of data to different organizations on a daily basis,” Mr. Sherwood says. “Security in the future is going to be based on intelligence, the use of AI to assist the staff. There is no other way.”"
ON THE WIRES
- ECCHO Exploring Possible Strategic Opportunities - "ECCHO has been instrumental in supporting the financial services industry's successful migration from paper checks to electronic check images. We believe that the U.S. payments system is on the threshold of another milestone transformation, due in part to the financial services industry's and Federal Reserve's efforts to develop faster payments and related technological advancements. ECCHO wants to ensure that it is best positioned to continue to support check image exchange and to facilitate the upcoming faster payments innovations. Key objectives for this strategic opportunity include enhancing ECCHO's functions currently provided to its members and the banking industry generally, including its rules, advocacy, educational and check resource functions," said David Walker, President and CEO of ECCHO."
- Air Force Federal Credit Union Launches New SAF-T™ Account - "The SAF-T account is a non-traditional transactional checking account. It does not have checks and only PIN-based transactions can be done on the AFFCU Visa® Debit card. It's unique in that there are no monthly maintenance fees and it protects you from fees such as NSF, Courtesy Pay, Overdraft Protection, Dormant account and other fees. "
- Emergent Payments Moves Into Nigeria - "Emergent Payments is offering merchants a completely local solution with a set of value-added services to simplify payments. These include support for the preferred payment channels – Verve bank card and Quickteller for instant P2P transfers to all Nigerian banks – as well as full tax compliance, remittance in major currencies and an extensive understanding of regulatory requirements."
GLENBROOK PAYMENTS EDUCATION EVENTS
Glenbrook's 2016 boot camps are done but there's more to look forward to. Our next Glenbrook payments education events are in San Jose, CA, New York, NY, and Atlanta, GA. See our spring 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
- We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Click here to learn more!
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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: firstname.lastname@example.org!