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December 16, 2016

Headline News from PaymentsNews.com - December 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

  • The ITU Digital Financial Services Focus Group Wraps Up - Glenbrook’s Payments Views - "Glenbrook’s Carol Coye Benson and Allen Weinberg were active members of the group: Carol ran the “Ecosystem Working Group” and Allen led a group of people on in-depth research and exploration of topics relating to merchant acceptance of payments in emerging economies. Glenbrook partner Elizabeth McQuerry was at the closing session, participating on a panel discussion of “New Frontiers in Regulation.”"
  • The OCC’s Proposed Fintech Charter: If It Walks Like a Bank and Quacks Like a Bank, It’s a Bank - Paul Hastings blog - "The OCC recognizes that the demographics of the financial marketplace also are changing with 85 million millennials becoming consumers of financial services—a demographic that has come of age using and relying on technology. As the Whitepaper notes, these market forces have resulted in technology-driven nonbank companies seeking new ways to deliver financial products and services. While frequently viewed as competition to traditional banks, given the challenges of bank regulation, technology companies frequently consider whether to become banks themselves. The Fintech Bank Charter may be a vehicle to do so. "
  • Introducing the new Google Wallet experience on the web - Google blog - "We're excited to introduce the new Google Wallet web experience (wallet.google.com) just in time for the holidays. Available across all browsers, the updated Wallet website has a brand new look and added features, which will make planning that New Year's trip with friends a breeze."
  • London fintech startup Curve brings mobile wallet and all-your-cards-in-one app to Android - TechCrunch - "The mobile wallet lets you sync your debit and credit cards into a single app and to the accompanying Curve card powered by MasterCard. You then simply select which card you want the Curve card to act as a conduit for any payments you make offline or online, meaning you only need to carry a single physical card with you."
  • GoDaddy adds Apple Pay support for its customers’ mobile sites - Mobile Commerce Daily - "GoDaddy is bringing Apple Pay to its Online Store platform, letting Web site owners who use its platform to accept mobile payments and increasing mobile sales."
  • ‘Billion-Dollar Desktop Days’ on a Record Run - eMarketer - "Since Thanksgiving, daily online purchasing via desktop computers has topped $1 billion for 19 straight days through Monday, far surpassing last year’s record of nine consecutive billion-dollar days, according to comScore."
  • Barclaycard Henry’s Café and Bar London bar tests contactless self-serve beer pump - NFC World - "The Pay @ Pump device has been designed by Barclaycard, following research by the company that revealed more than a quarter of British consumers (28%) are calling for contactless payments to be made available in every pub and bar nationwide. Some 19% said they would like to see pubs and bars install contactless beer pumps."

ON THE WIRES

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

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!

December 15, 2016

Headline News from PaymentsNews.com - December 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

  • Non-cash payments set to soar - Information Age - "The value of non-cash payments in the US and UK will reach $46 trillion and £1.44 trillion respectively by 2026, new research from global law firm Paul Hastings has revealed today. In the US, this is a 36% increase on 2016’s figure of $33 trillion, with there being 221 million contactless mobile payment users within a decade."
  • Accelerating the Adoption of Tokens to Benefit Banks, Merchants and Consumers - Mastercard - "To continue to drive the wider adoption of tokens – an effort supported by both our bank and merchant partners – we recently signed an agreement with Visa that will accelerate the adoption of tokens in Masterpass and Visa Checkout. The reciprocal tokenization agreement allows Visa to request tokenized Mastercard payment credentials from Mastercard for provisioning into Visa Checkout, and for Mastercard to request tokenized Visa credentials from Visa for provisioning into Masterpass."
  • Yahoo and Other Breaches Drive Surge in Corporate Hacking Insurance - Wall Street Journal - "Cyberinsurance is the fastest-growing insurance product in America, fueled by a slate of recent corporate and government hackings."
  • The Tapscotts on Blockchain in 2016 and What’s Next - Coindesk - "2016 was the year that many bank CEOs woke up to both the threat and the opportunity of the blockchain. At a meeting of 50 CEOs of the 50 largest banks back in January, most were skeptical. Now most are investigating how this technology might transform their companies and industry services."
  • Android everywhere: If it has a screen, it will probably run Android soon - Ars Technica (Page 2 for section on ATMs) - "As part of the never-ending quest for ATM security, the Android build in the Cx110 is actually a thin client. As a node in NCR's "Kalpana Enterprise Software Platform," NCR has turned the ATM from a fully fledged computer with minimal network communications to a thin client with centrally managed "application, security, and operational components." As an open source OS, NCR can strip away everything they don't need, greatly reducing the attack surface."

ON THE WIRES

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

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!

December 14, 2016

Headline News from PaymentsNews.com - December 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

  • Two fifths of global card-present payments use EMV standard - NFC World - "More than two fifths of all card-present transactions conducted globally (42%) between July 2015 and June 2016 used the EMV chip card standard, up from 33% for the previous 12-month period, standards body EMVCo has revealed."
  • ACH Volumes Continue Their Hot Streak With Nearly 6% Growth in the Third Quarter - Digital Transactions - "Continuing the stepped up growth rate it’s seen for nearly two years, the automated clearing house network’s transaction volume grew 5.7% in the third quarter, slightly better than the second quarter’s 5.6% growth rate."
  • Swift’s Global Head of Banking Argues Blockchain Isn’t a Disruption - Coindesk - "Companies like distributed ledger startup Ripple and others have set the global financial messaging platform square in their sites as the ultimate middleman to be cut out of the loop. But this is not Swift’s first time facing the potential benefits, and threats, of a new technology. Swift’s global head of banking, Harry Newman, is also the sponsor of both his firm’s current blockchain applications. Having run a series of tests on two very different blockchain use cases, he’s come to the conclusion that there’s nothing to fear from blockchain."
  • Introducing Braintree’s Commerce Infrastructure Tools - Braintree blog - "At their core, the commerce infrastructure tools are a set of APIs that address the complexities of sharing customer and payment data between parties. With these new APIs, merchants or platforms have the ability to create their own experiences, both in app and on their site, by being able to securely share payment data with any party they choose to partner with, regardless of payment processor, all while remaining PCI compliant. "
  • ‘Tis The Season For Scams: How Blockchain Helps Prevent Brand Fraud - Retail Touch Points - "As the sheer volume of e-Commerce transactions increases over time, it is becoming more difficult for retailers and brands to decipher between legitimate and fraudulent activity. Companies are searching for new products and procedures to quickly identify fraudulent transactions and returns. One-way to authenticate goods is by using a blockchain"
  • Here's the Biggest Smartphone Feature for 2017 - Tom’s Guide - "The next big feature in your smartphone might be closer than you think. Synaptics today (Dec. 13) announced a new line of optical fingerprint sensors that will allow phone makers to place the sensor, complete with biometric technology, under the glass on the front of the phone."

ON THE WIRES

  • Consumers Aren't Averse to Debt and Credit - They're Averse to Uncertainty - "Drawing upon a survey of 1,089 U.S. individuals between the ages of 22 and 44, the study reveals that while a large percentage of consumers worry about the mismanagement of credit cards, they are simultaneously open to a healthy amount of debt. Consumers recognize the necessity of credit, but have real concerns about its sometimes confusing terms."
  • Signifyd and ThreatMetrix® Combine Machine Learning and Digital Identities to Eliminate Online Payment Fraud - "Signifyd’s VP of Partnerships, Skye Spear, summarizes what the partnership means for ecommerce merchants, “ThreatMetrix provides global shared intelligence on more than a billion digital identities. The ThreatMetrix Digital Identity Network provides additional insights for Signifyd’s machine learning capabilities enabling us to authenticate orders from customers who may have previously been denied. We’re able to incorporate additional data in real-time to identify and mitigate sophisticated fraud scenarios across one or more of our customers emulating multiple buying identities. Our goal is to increase decision confidence for online merchants through a managed service that’s backed by a financial guarantee.”"
  • In A Digital World, Consumers Expect Multi-Channel Financial Services Yet Many Still Prefer the Branch, Reveals Fiserv Research - "Fiserv, Inc. (NASDAQ:FISV), a leading global provider of financial services technology solutions, has released the results of Expectations & Experiences, its quarterly consumer trends survey. Consumers increasingly expect financial services on-demand and on their terms, and the study revealed that transaction type and life stage often relate to how people bank. While a majority of consumers prefer online or mobile banking, and those channels are far more frequently accessed for day-to-day interactions, a surprisingly high number of consumers still visit the branch."

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

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!

December 13, 2016

Headline News from PaymentsNews.com - December 13, 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

  • In Global First, India Offers Discounts for Payments Made Online - Bloomberg - "Exactly 30 days after junking existing high-value 500 and 1,000 rupee notes, Finance Minister Arun Jaitley sought to draw Indians toward digital payments by offering up to 10 percent off on insurance policies, highway usage and concessions on train travel. The government will also waive service tax on online transactions below 2,000 rupees ($29.6), he added. Apart from these, there will be a 0.75 percent discount at petrol stations even though oil companies currently add a surcharge for using debit or credit cards."
  • Mastercard highlights European financial exclusion issue - IBS - "Financial exclusion is not just a developing markets problem – millions of those affected live in Europe’s richest countries, new Mastercard research shows. Of those who are financially excluded across Europe, a third are employed full time and 35% are aged 18-34. 138 million Europeans are without a bank account or payment methods."
  • Android Pay launches in Japan with prepaid card provider - NFC World - "Google has launched its Android Pay mobile payments platform in Japan in collaboration with prepaid card provider Rakuten Edy, allowing consumers to make payments with their compatible devices at more than 470,000 locations accepting Rakuten Edy eMoney."
  • SA payments startup SnapScan acquired by Standard Bank 0 - Disrupt Africa - "zSouth Africa’s Standard Bank has acquired a majority stake in Firepay, the company behind mobile payments solution SnapScan. Firepay, formed in 2013, launched SnapScan in partnership with Standard Bank in 2014. The product allows users to pay for good and services by scanning a QR code on their mobile phones. SnapScan now has a national network of more than 32,000 physical and online merchants, while Firepay’s technology platform also enables payments for clients including WeChat and Masterpass."
  • VeriFone’s Galant Says Networks’ EMV Extension for Fuel Pumps Will Hurt Its Results - Digital Transactions - "“We were disappointed and somewhat shocked at the three-year delay,” VeriFone chief executive Paul Galant told analysts during an afternoon conference call to discuss the company’s results for its fiscal fourth quarter, which ended Oct. 31, and for the full fiscal year."
  • Japanese financial service providers begin facial recognition payment trials - NFC World - "“In these trials, NEC, SMBC and Sumitomo Mitsui Card aim to verify the recognition performance, employee receptivity to biometric authentication and operational aspects of the service, while gaining experience and know-how with a view to providing safe, secure, convenient cashless (and cardless) payment services utilising facial recognition technology at branches in the future,” the company adds."

ON THE WIRES

  • Privacy Launches To Make Your Payments Safer & Easier - "Privacy was co-founded by payments and security company veterans, including Andy Roth, the former Chief Privacy Officer at American Express, as a way to give people control of their personal and financial information. Designed for everyone, Privacy generates a new virtual card for every credit card transaction a shopper makes, protecting them from the worry and time-consuming headaches associated with credit card fraud, data breaches, and identity theft. Available for free on Apple iOS and Google Chrome, Privacy allows users to create "burner" cards with one click that terminate after one transaction or general cards that can be used for recurring transactions at trusted merchants."
  • Viewpost and Comdata Team Up to Streamline Secure ePayables - "Viewpost, the secure B2B network for electronic invoicing, payments and cash management, today announced a partnership with Comdata, one of the largest commercial credit card issuers for MasterCard in North America, to give businesses an option to pay their suppliers with virtual credit card transactions."
  • Scalefast Selects Ingenico Group to Boost Global, Multi-channel Payment Processing Capabilities - "Ingenico Group (Euronext: FR0000125346 - ING), the global leader in seamless payment, today announced that it has signed an agreement to provide global, full-service payment processing to Scalefast, a fast-growing eCommerce platform provider for the video game and entertainment industries, leveraging its eCommerce and cloud-based mobile point of sale (mPOS) solutions."

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

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!

December 12, 2016

Headline News from PaymentsNews.com - December 12, 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

  • Panasonic Takes Item Out of Bagging Area: Human - Wall Street Journal - "Panasonic Corp. is introducing convenience-store checkout machines that can scan and bag items on their own, joining Amazon.com Inc. in the push for more retail automation."
  • Why Bitcoin's Remittance Disruption Slowed to a Crawl - Coindesk - "So, what exactly are the dynamics of the remittance market that keep Western Union, MoneyGram, etc, at the top of the food chain, and what would it take to chip away at their position?"
  • I have seen the future of wearable payments, and it is magical - Android Central - "I went to Walt Disney World at the beginning of December. It was absolutely glorious. And each day, while in the parks, I did not take a wallet with me. I stuck my driver's license in the back of my phone's clear case, and that was all I brought. And while I bought tons of keepsakes and food, my credit cards stayed safely in my hotel room. Did I use Android Pay? Samsung Pay? Apple Pay? No; I used something even better."
  • Bipartisan cybersecurity panel issues report recommending stronger authentication - Biometric Update.com - "The report identified several key authentication requirements, including that all citizen-facing digital government services require strong authentication; that all private-sector organizations use strong authentication solutions as the default for major online applications; and that all federal agencies use strong authentication by their employees and contractors."

ON THE WIRES

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

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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