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Headline News from PaymentsNews.com - March 16, 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

  • How the Internet Is Saving Culture, Not Killing It - New York Times - "You’ve already heard about the rise of subscription-based media platforms — things like Amazon Prime, Netflix, Hulu, HBO, Spotify and Apple Music. But people are also paying for smaller-audience and less-mainstream-friendly content. They are subscribing to podcasters, comedians, zany YouTube stars, novelists and comic book artists. They are even paying for news."
  • Vantiv Beats FirstData as Largest U.S. Merchant Acquirer - Bank Innovation - "Payments services provider Vantiv becomes the largest U.S. merchant acquirer, beating FirstData for the first time in 20 years. According to Nilson Report, released this morning, Vantiv increased purchase transactions to 21.2 billion in 2016, up almost 20% from the year prior. FirstData came in second, logging in 19.8 billion transactions."
  • Bank Overdraft-Fee Revenue Bounces Back - Wall Street Journal - "Banks and other financial firms in 2016 generated the highest level of fees in seven years related to overdrafts on checking accounts, marking a turnaround for a charge crisis-era regulation tried to rein in."
  • Australian banks brand non-NFC alternatives to Apple Pay ‘unrealistic’ - NFC World - "Relying on Android or alternatives to NFC for successful mobile payment services in a country with one of the world’s largest iPhone market shares and high contactless card use is “unrealistic”, the group of Australian banks seeking access to the iPhone’s NFC functionality say in their latest submission to the Australian Competition and Consumer Commission (ACCC)."
  • Samsung's New S8 to Adopt Facial Recognition for Payments - Bloomberg - "With mobile security taking on greater importance among consumers, the Korean company has been trying to bolster its facial detection rate over the years, the people said. Iris and facial detection capabilities complement each other: phones can rely on iris detection when there’s not enough ambient light to recognize facial features. But the smartphone unlocks faster and with more accuracy when it comes to recognizing faces."
  • McDonald's, late to mobile ordering, seeks to avoid pitfalls - Reuters - "McDonald's Corp has begun testing its long-awaited U.S. mobile ordering app, with the goal of avoiding the kinds of service hiccups that have haunted digital debuts by companies such as Starbucks Corp."
  • Paytm launches digital wallet business in Canada - India Retailing - "Users in Canada will now be able to pay for their cell phone, cable, internet, electricity and water bills. In addition to this, users will also be able to pay for their insurance and property taxes by using the new Paytm Canada app. It is available on both Android and iOS in Canada."
  • Illinois Government Unveils Expansive Blockchain Support Plan - Coindesk - "Beyond just a play to streamline bureaucracy, the Illinois Blockchain Initiative's plan is designed to turn the native home of derivatives and the center of the US mercantile exchange into a fountainhead from which other states might also work to adopt blockchain."
  • Mobile Coupon Usage Up, But Traditional Formats Still Preferred - MarketingCharts - "More consumers say they prefer to get coupons in the mail (44%) than through any other method, according to a study from Valassis, which surveyed 1,000 US adults."
  • CleverIS announces end-to-end payment test solution - SD Times - "Unlike any other solution on the market, the CleverIS Testing solution automatically generates payment transactions at the interval and frequency required and from any channel such as POS, ATM, terminals, XML and more for Merchants, Acquirer Banks or Processors, Card Networks and Issuer Banks. The end-to-end payment test solution fulfills the numerous requirements of each stackholder involved in the payment-authorization lifecycle. The CleverIS product and services solutions are available on-premises or as-a-service."
  • Visa's new contactless payment card is a pair of sunglasses - The Verge - "Visa announced today that it will be starting a new pilot program of contactless payment-enabled sunglasses. The glasses, pictured above, appear to be a regular pair of shades — with the addition of a small contactless card that allows the sunglasses to work as a contactless payment method."

ON THE WIRES

  • First Data Strengthens eCommerce Position with Acquisition of Acculynk - "First Data (NYSE: FDC), a global leader in commerce-enabling technology, today announced that it has entered into an agreement to acquire Acculynk, a leading Atlanta-based technology company that delivers eCommerce solutions for debit card acceptance. The acquisition expands First Data’s robust eCommerce solution suite by providing access to Acculynk’s PaySecure® debit routing technology and its range of other services for businesses of all sizes around the world."
  • Global Payments Launches EdgeExpress Cloud, a New Platform Allowing Developers to Integrate Advanced Payment Solutions - "Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology services, is pleased to announce that OpenEdge, its integrated payments division, has launched EdgeExpress Cloud. This new platform is designed to streamline payments integration with SaaS, Deployed, Mobile and eCommerce software applications. Among the simplest payment integration platforms on the market and available exclusively to Global Payments software partners, EdgeExpress Cloud includes a feature-rich API that reduces development cycles and enables faster delivery of software solutions to the end merchant customer."
  • Digital River World Payments Adds In-Country Payment Processing in Hong Kong, Singapore and Australia; Expands in Europe - "Digital River World Payments, a global payments service provider, announced it is working with First Data, a global leader in commerce-enabling technology, to offer online merchants a full-service, turn-key solution for processing in-country payments in Hong Kong, Singapore and Australia. By adopting First Data’s global acquiring platform, Digital River World Payments can now help merchants with local entities in these regions increase their credit card authorization rates and global reach. Digital River World Payments is also expanding its existing in-country payment processing capabilities in Europe by adding First Data to its growing network of payments partners."
  • Complete Auto Care and Fuel-Ups Available with New Synchrony Car Care™ Card - "The new Synchrony Car Care card replaces the CarCareONE® card, leveraging the existing network that has helped millions of consumers finance automotive aftermarket parts and services for more than three decades. The new program expands utility and enhances benefits, while building on the same core value proposition of special financing for purchases of $199 or more.2 It is evolving to meet the needs of drivers for a dedicated payment solution for everyday gas purchases and an expanded acceptance network for both planned and unexpected automotive expenses."
  • WePay Doubles Down on Apple Pay, Android Pay Mobile Revenue Drivers - "WePay, the leading provider of integrated payments for online platforms including Constant Contact, GoFundMe, and Zoho, today announced that its customers can now use Apple Pay on the Web and Google's Android Pay on the Web to generate dramatically more revenue on their sites."

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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