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February 06, 2017

Headline News from PaymentsNews.com - February 6, 2017

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Payments in Real Time - Payments Views (Glenbrook’s Elizabeth McQuerry) - "It’s taken another three and a half years but in 2017, new payment systems are coming on line that will totally transform how many payments are made. Zelle and the new Real Time Payments rail from The Clearing House are joining contenders like PayPal."
  • Globalization failed too many people. Here’s the technology that could help it work for everyone - Quartz - "The challenge that lies ahead is how to make globalization (and, ipso facto, technology) work for everyone, not just privileged few. The blockchain, a decentralized ledger that verifies and permanently records transactions, may help us achieve this goal. In fact, the democratizing potential of this technology could be key to ushering in a new era of globalism."
  • Klarna buys BillPay, the PayPal of Germany, for $75M from Wonga - TechCrunch - "The sale is a sign of consolidation for both: Klarna — which gives customers one-touch payment services, as well as the option to pay immediately, pay in instalments or pay at delivery — is looking to build out a stronger presence across Europe in payments. Specifically, in this case, it’s augmenting an existing business in Germany, where this is Klarna’s third acquisition (it acqui-hired the team behind peer-to-peer payments app Cookies in October 2016; and it acquired Sofort in 2013 for $150 million)."
  • Mobile payments volume in US will triple by 2021: report - Mobile Commerce Daily - "Mobile payments volume in the US is expected to total $112 billion in 2016 and grow at 20 percent compound annual growth rate until it reaches $282 billion by 2021, according to a report from Forrester."
  • Apple accuses Australian banks of Apple Pay transaction fee ‘trojan horse’ - NFC World - "Australian banks are using fees on Apple Pay transactions as a “trojan horse” to discourage the use of its mobile payments service and to condition consumers to accept transaction fees with the “longer term view to setting a precedent for charging for mobile payments on other digital wallets,” Apple claims in its latest submission to the Australian Competition and Consumer Commission (ACCC)."
  • As Bitcoin ETF Nears, Analysts Warn of Trading Frenzy - Wall Street Journal - "As bitcoin ETF nears, analysts warn of trading frenzy - "An easily accessed ETF that tracks the value of bitcoin could cause money to flood into the fledgling bitcoin market, analysts say. Indeed, what some see as a chance for average investors to participate in one of the great financial innovations of recent years could set off a trading frenzy in an already wild market."
  • Mobile 2.0 - Benedict Evans - "Today, ten years after the iPhone launched, I have some of the same sense of early constraints and assumptions being abandoned and new models emerging. If in 2004 we had 'Web 2.0', now there's a lot of 'Mobile 2.0' around. If Web 2.0 said 'lots of people have broadband and modern browsers now', Mobile 2.0 says 'there are a billion people with high-end smartphones now'*. So, what assumptions are being left behind? What do you do differently if you assume not just the touch screen from 2007 but unlimited battery and bandwidth (around half of smartphone use in developed markets is on wifi and mobile networks are 10x faster), high-DPI screens, a CPU and GPU 100x faster than PCs in 1994, and lots of high-quality image sensors? "

ON THE WIRES

  • IHG® Notifies Guests of Payment Card Incident at 12 Properties in the Americas - "Findings show that malware was installed on servers that processed payment cards used at restaurants and bars of 12 IHG managed properties. Cards used at the front desk of these properties were not affected. The malware searched for track data (cardholder name, card number, expiration date, and internal verification code) read from the magnetic stripe of a payment card as it was being routed through the affected server. "
  • Shift4 Announces Unified Commerce Payments for Microsoft Dynamics 365 for Operations - "Shift4 partnered with Microsoft value-added distributor Retail Realm to develop a complete integration with Microsoft Dynamics 365 for Operations. The resulting Unified Commerce Payments extension provides retailers the flexibility to implement a secure, integrated payment solution across their entire enterprise – from storefronts to e-commerce, call center, fulfillment and more. "

GLENBROOK PAYMENTS EDUCATION EVENTS

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

  • Join us at the 2017 FinTech Georgia Symposium February 9! Glenbrook is a proud sponsor of the 2017 FinTech Georgia symposium. Join us for this great event on February 9 in Atlanta. Reach out to Glenbrook's Elizabeth McQuerry, a board member of the Technology Association of Georgia, to schedule a meeting with the Glenbrook partners in town for the symposium.
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! 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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