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Headline News from PaymentsNews.com - February 9, 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

  • Kenyan banks get backing to launch M-Pesa competitor network - Payments Cards and Mobile - "The Kenya Interbank Transaction Switch, which has been developed by the Kenya Bankers Association (KBA), facilitates real-time transfer of money between banks without going through mobile money platforms that are owned by the three telecom firms."
  • PayPal Says Anti-Money Laundering Program Subpoenaed by DOJ - Bloomberg - "San Jose, California-based PayPal processed $354 billion in transactions in 2016, with about half of the volume overseas. Since it handles transactions across borders, it has to comply with laws targeting money laundering. PayPal suggested in a statement that the Department of Justice is seeking information regarding PayPal users, not targeting the company in the probe."
  • Google unveils Android Wear 2.0 and new watch with support for NFC mobile payments - NFC World - "Google has officially unveiled Android Wear 2.0, the new version of its operating system for smartwatches, and two new watches from LG — one of which comes with NFC to support HCE mobile payments using Android Pay."
  • USA Technologies’ Cashless Rollout Speeds Along, But Profits Elude the Vending Specialist - Digital Transactions News - "USAT advocacy of cashless-vending payments is bolstered in part by consumer affinity for contactless payments. In a test promoting Apple Pay on its interactive ePort devices, USAT found that vending operators had a 36.5% increase in overall sales and a 55.5% increase in revenue from contactless purchases. The average contactless ticket of $1.47 was 26.7% more than the average cash ticket of $1.16. “As revenue and connections continue to grow, we’ve returned to our profitability path we were on in the early part of last year and we’re obviously on track to reach our long-term goals of 500,000 connections and a $100 million annual revenue run rate,” said chairman and chief executive Stephen P. Herbert during the call."
  • Two of China's Biggest Exchanges Stop Bitcoin Withdrawals - Coindesk - "In public posts that showcase the increasingly coordinated nature of exchange policy in the region, both OKCoin and Huobi said today that the move was a bid to bolster their anti-money laundering (AML) capabilities and prevent "illegal transactions"."
  • How emerging payments impact merchant acquirers - Mobile Payments Today - "Even though some emerging payment technologies are not widely accepted or even broadly adopted by consumers, the acceptance of these technologies can create opportunities for merchant acquirers to differentiate themselves in a highly competitive and relatively commoditized industry. Every acquirer accepts the major issuing brands and debit cards, but not all acquirers accept these new technologies."

ON THE WIRES

  • NCR Introduces NCR ENCOR for Small and Medium-Sized Retailers in North America - "NCR Corporation (NYSE: NCR), the global leader in omni-channel technologies, introduces NCR ENCOR, a complete store management solution that delivers comprehensive point of sale, front office and back office functionality for small and medium-sized retailers that will be available through the NCR Interact Partner Program in North America. NCR ENCOR is based on an open platform delivering a unified customer experience leveraging the NCR Retail ONE omni-commerce hub. NCR Retail ONE provides real-time access to actionable data across multiple channels, as well as seamless integration to an ever-evolving ecosystem of third party applications."
  • USA Technologies to Roll Out Cashless Payment Technologies to Six Pepsi Cola Bottlers - "USA Technologies, Inc. (NASDAQ:USAT) ("USAT"), a payment technology provider of cashless and mobile transactions in self-serve retail, today announced agreements with several Pepsi Cola bottling franchisees throughout North and South Carolina to leverage USAT’s cashless payment technologies within their existing inventory of vending machines. The company has 11,900 customers and over 469,000 point of sale cashless payment devices on the ePort Connect platform."
  • InComm Expands International Network through Partnership with Brazilian Convenience Store Chain - "InComm, a leading prepaid product and transaction services company, today announced it has finalized a five-year exclusive partnership with Ipiranga in Brazil, further adding to its international network. Ipiranga is a subsidiary of Ultra, Brazil's second-largest fuel distribution company, and manages its chain of convenience stores. The partnership differentiates Ipiranga in selling gift cards at service stations."

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

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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