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February 15, 2017

Headline News from PaymentsNews.com - February 15, 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

  • PayPal buys TIO Networks for $233 million - TechCrunch - "PayPal has agreed to buy bill payment management company TIO Networks for $233 million in cash. The deal will allow PayPal to gain access to a market of customers who pay their utility and cable bills at kiosks in locations like Rite Aid. This will help the company reach the “underserved” chunk of North Americans who are living paycheck-to-paycheck, some who even lack bank accounts. “There’s a chance to create a bridge for those users into the digital world,” Bill Ready, PayPal COO told TechCrunch. "
  • Microsoft Teams With KPMG to Launch Blockchain Workspace Network - Coindesk - "Dubbed "Blockchain Nodes", the workspaces are intended to serve as hubs for collaborative work on use cases, particularly those focused on finance applications. Of note is that the news expands an existing partnership, one that expanded last year that cover joint work on blockchain."
  • Introducing Square for Retail: A New Point-of-Sale App and Complete Set of Tools for Retail Businesses - Square blog - "Last year, retail businesses were responsible for 20 percent of all payments volume processed through Square. We built Square for Retail and our Square Retail app based on feedback from retail businesses we work with, like Pure Liquid Wine & Spirits."
  • Jaguar drivers in UK can now pay for Shell gas without leaving their car - Pocket-lint - "Jaguar has introduced a new app integration that allows some drivers to use their car’s touchscreen to pay for fuel. The Shell app, described as a new cashless payment app, will work with several Jaguar Land Rover models. With it installed, you can drive up to any pump at a Shell service station in the UK, and instead of using a card at the pump, you'd use the vehicle’s touchscreen to select how much fuel you require and then pay via PayPal or Apple Pay. Android Pay will be added in 2017."

ON THE WIRES

  • comScore Reports $109 Billion in Q4 2016 Total Digital U.S. Retail E-Commerce Spending, Up 18 Percent vs. Year Ago - "comScore today reported Q4 2016 U.S. retail e-commerce spending from desktop computers and mobile devices. For Q4 2016, $109.3 billion was spent online, marking an 18-percent increase versus the same quarter in 2015. The majority of online buying occurred on desktop computers, with $86.6 billion spent, up 13 percent vs. year ago. Meanwhile, m-commerce spending on smartphones and tablets contributed $22.7 billion, with a significantly higher year-over-year growth rate than desktop at 45 percent."
  • Intuit Goes Live On VersaPay ARC™ to Automate Its Invoice to Cash Process - "VersaPay Corporation (TSXV: VPY) ("VersaPay" or the "Company"), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, today announced that Intuit Inc. has implemented VersaPay ARCTM for select small business and accountant customers. The service allows the company's customers that primarily pay Intuit on a net term basis to use a self serve portal and pay online 24/7. This improves Intuit's collection tools and gives them the flexibility to better manage their invoice to cash cycle."
  • Vibe and WEX Announce Virtual Payments Agreement - "WEX Inc. (NYSE: WEX), a leading provider of corporate payment solutions, today announced a new agreement with Vibe Systems Ltd. Vibe delivers advanced front and mid office technology to travel businesses, such as online travel agencies, retail agencies, travel management companies and consolidators. The agreement allows a direct integration of WEX’s virtual debit, prepaid and credit cards with either pre- or credit funding into the Vibe platform which enables automated supplier payments in 24 currencies across the globe."

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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