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February 10, 2017

Headline News from PaymentsNews.com - February 10, 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

  • Australia’s retailers join the banks in their battle with Apple Pay - NFC World - "The Australian Retailers Association (ARA) has come out in support of the group of four Australian banks seeking stronger negotiation powers with Apple over the introduction of Apple Pay in the country, saying they believe access to the NFC functionality in the iPhone would allow retailers to provide “a richer and more convenient customer experience”."
  • Project Jasper: Lessons From Bank of Canada's First Blockchain Project - Coindesk - "Project Jasper is our DLT flagship experiment, first revealed last June in a speech in Calgary. It's a joint initiative between Payments Canada, the Bank of Canada, major Canadian banks and R3. We've built and are test driving a simulated wholesale payment system using a DLT-based settlement asset (dubbed 'CADcoin' or 'settlement coin’). The experiment will be ongoing until later this spring, but already it has taught us a lot about how the technology would have to improve to win a horse race with our current Large Value Transfer System."
  • PCI SSC issues multi-factor authentication guidance - Contactless Intelligence - "Attackers continue to compromise valid credentials to access company networks and steal data. To help organizations combat this growing threat, the PCI Security Standards Council (PCI SSC) has issued guidance on what they consider to be the proper use of multi-factor authentication for preventing unauthorized access to computers and systems that process payment transactions."
  • Surging Attacks Driven by Spoofed IDs And Mobile Devices Darken the Security Picture - Digital Transactions News - "Criminals are increasingly relying on a devil’s brew of breaches, phishing, bot attacks, and outright fakery to piece together convincing identities they can use to loot accounts. “There’s a lot of [personally identifiable information] in the wild and fraudsters have access to it,” Vanita Pandey, product management and payments executive at ThreatMetrix, tells Digital Transactions News. “It’s easier than ever to commit crime.”"
  • How Retailers Can Grow Their Customer Base With Gift Card Programs - Retail Touch Points - "Gift cards help givers strike the perfect balance between wanting to give a personal gift and giving the recipient some freedom to choose. CardCash.com ranks gift cards as the #1 most requested gift, with 28.8% of consumers specifically requesting gift cards from friends or family. And, not surprisingly, gift cards are particularly popular over the holiday season. In fact, by 2015, gift cards accounted for more than 18% of holiday purchases."
  • Google is killing its experimental Hands Free payment app - The Verge - "The app, which launched on iOS and Android in March last year, allowed users to enter in payment and photo information, and then used a combination of Bluetooth, Wi-Fi, and location services to identify if your phone was in a store. When paying, a cashier would be presented with a photo that the user had set up in an app to confirm the transaction."
  • VC Firms Back Record Number of Cybersecurity Startups in 2016 - Bloomberg - "More than 4.2 billion records were exposed during data breaches last year, easily eclipsing the previous record of 1.1 billion in 2013, according to a January report by Risk Based Security Inc. Corporate cybersecurity spending is growing at twice the rate of overall IT budgets and will reach $101.6 billion by 2020, research firm IDC estimates."

ON THE WIRES

  • Origination Volume is Higher Than or as Anticipated - "Twenty-three financial institutions, representing 63 percent of ACH Network origination volume, participated in a qualitative survey during December 2016 and January 2017 about Same Day ACH, an industry solution to move payments faster. Across the board, Same Day ACH has seen strong performance and usage, with 90 percent of respondents saying the volume of origination services was the same or higher than expected, and 83 percent saying the same about volume received."
  • Blackhawk Network Launches Same-Day Rebate Reward Fulfillment - "Blackhawk Network, a pioneer of gift cards, payments tools and rewards delivered via a robust and convenient network, today announced the launch of its first-ever rebate processing solution that allows consumers to qualify for and submit a utility-sponsored rebate, and receive a reward, on the same day. With this new On-the-Spot Rewards™ utility providers and service providers across the country can offer to consumers rebates and rewards following their purchase of an in-home service, HVAC or energy efficient product installation."
  • Signifyd Joins Salesforce Partner Program to Drive Customer Success With Salesforce Commerce Cloud - "Signifyd today announced that it has joined the Salesforce Partner Program in support of Salesforce Commerce Cloud, the fastest path to unified commerce. Commerce Cloud enables brands to provide personalized experiences for shoppers that span web, mobile, social and in-store. And now, as part of the world’s #1 CRM platform – Salesforce – brands can deliver completely unified experiences for customers that extend beyond commerce to include marketing, customer service and more."
  • LendingTree Analysis Shows Apple Users Have Higher Credit Scores, Loan Amounts and Better Rates than Android, Windows - "LendingTree® (NASDAQ: TREE), the nation's leading online loan marketplace, analyzed over 2 million purchase mortgage and personal loan requests to better understand how Americans are shopping for their loans. The findings show that 41 percent of purchase mortgage shoppers and almost half (48.53%) of personal loan shoppers use a mobile device to shop and compare loan offers from different lenders. Additionally, the analysis suggests a correlation between a user's device, credit score, and loan amount."

GLENBROOK PAYMENTS EDUCATION EVENTS

The next Glenbrook Payments Boot Camp is March 7-8, 2017 in San Jose, CA. On March 9, still in San Jose, will be our Digital Payments Insight Workshop. Following that, our next public Boot Camp and Insight Workshop combination will be in New York City in April followed by Atlanta in May. Check out 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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