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March 20, 2017

Headline News from PaymentsNews.com - March 20, 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

  • Wells Fargo’s Checking Account and Credit-Card Openings Keep Falling - Wall Street Journal - "The San Francisco-based bank said checking-account openings fell 43% year-over-year to around 300,000 while new credit-card applications fell 55% from a year-earlier to around 200,000."
  • IBM Goes Live With First Commercial Blockchains - Coindesk - "Previously released in beta and scheduled for official release today, the offering – dubbed "IBM Blockchain" – is formally debuting in front of a group of 20,000 developers at the Interconnect conference. There, its first two major deployments will also be detailed. One of those is a blockchain identity solution built with SecureKey, in which it will power a public-private partnership that saw six Canadian banks invest $27m. In addition, it will be revealed that a Chinese energy company is using the IBM Blockchain to create an exchange for trading carbon credits."
  • The Invisible Selling Machine - Fortune - "From the unlikely setting of Ottawa, Shopify has quietly been powering an e-commerce revolution. Founded in 2004, Shopify (SHOP, +3.08%) has close to 2,000 employees—1,500 of them added in the past two years—and offices in five cities. Revenue in 2016 was $390 million, up almost 100% from 2015; it’s projected to grow 50% this year (it had a $37.2 million operating loss in 2016 but expects to be profitable this year). "
  • The Changing Face of Retail Stores - eMarketer Retail - "A new report from Avanade, a provider of digital cloud services, and EKN Research found that while nearly 80% of retailer professionals worldwide currently believe traditional sales are the primary business function of stores, that will change in the next two to three years. By 2020, traditional sales activities will fall to the bottom of what retailers expect from stores. At the top will be theme-based stores, fulfillment centers and pop-ups."
  • China Bitcoin Rules Would Require Exchanges to Verify Clients’ Identity - Wall Street Journal - "China’s central bank is moving to regulate its domestic bitcoin industry, circulating new guidelines that, if enacted, would require exchanges to verify the identity of clients and adhere to banking regulations."
  • UNIONPAY TO ISSUE NFC AND EMV CARDS IN PAKISTAN - Cards International - "UnionPay International, a wholly-owned subsidiary of China UnionPay, has signed an agreement with Dubai Islamic Bank Pakistan (DIBP) to issue UnionPay QuickPass (NFC) and EMV chip cards in Pakistan. With this agreement, DIBP will become the first Islamic bank in the country to issue UnionPay QuickPass (NFC) enabled cards that will allow customers to make contactless payments."
  • Phishing Scams Even Fool Tech Nerds—Here’s How to Avoid Them - Wired - "The most important thing experts recommend is to listen to your gut. When something feels off, it probably is. But since the whole point of phishing (and its more tailored and targeted counterpart spear phishing) is to get you to do something without raising alarm bells, you need to practice skepticism even when things seems fine. You should be generally reluctant to download attachments and click links, no matter how innocuous they seem or who appears to have sent them."

ON THE WIRES

  • MoneyGram Board of Directors Determines Unsolicited Proposal from Euronet Worldwide Could Reasonably Be Expected to Result in a "Company Superior Proposal" - "MoneyGram (NASDAQ: MGI) announced today that its board of directors, after consultation with its outside legal and financial advisors, has determined that the unsolicited proposal received on March 14, 2017 from Euronet Worldwide, Inc. ("Euronet") (NASDAQ: EEFT) to acquire all of the outstanding shares of MoneyGram Common Stock and Preferred Stock for $15.20 per share in cash on an as-converted basis (the "Euronet Proposal") could reasonably be expected to result in a "Company Superior Proposal" as defined in MoneyGram's merger agreement with Ant Financial Services Group ("Ant Financial")."
  • 3dcart Integrates with Square for eCommerce Payments - "The integration allows for next-day direct deposits, enables the merchant to accept all major credit cards at a single rate, and facilitates integration of reporting between online and offline sales. Merchants will now have the option to seamlessly use 3dcart's full-featured online store platform together with Square's payment gateway."
  • Synchrony Financial to Broaden Cutting Edge Mobile Commerce Solutions for Retailers Through its Acquisition of GPShopper - "The transaction further demonstrates Synchrony Financial’s commitment to bringing its partners enhanced digital offerings supported by advanced mobile application development and robust technology, data and analytics. Adding GPShopper’s mobile development expertise will be an integral part of Synchrony Financial’s efforts to further expand its mobile engagement capabilities. "
  • Mitek to Enable B2B Mobile Deposits on Ariba® Network - "Mitek (NASDAQ:MITK) (www.miteksystems.com), a global leader in mobile capture and identity verification software solutions, today announced that it intends to enable B2B mobile payments on the Ariba® Network, the world's largest, most global business-to-business trading platform."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. 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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