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Headline News from PaymentsNews.com - April 17, 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

  • Ant Financial Raises MoneyGram Bid 36% to Fend Off Euronet - Bloomberg - "The revised bid is worth $18 a share in cash, up from a previous offer of $13.25, the companies said in a joint statement. The new deal, which has the backing of MoneyGram’s board, values all the common and preferred stock at $1.2 billion, it said. Euronet Worldwide Inc. last month offered $15.20 a share for the Dallas-based payments company."
  • With new govt app, use fingerprint to pay - Times of India - "Strongly backing the Aadhaar identity system, PM Narendra Modi on Friday launched the Bhim-Aadhaar Pay app, a system which allows payment through thumb impression. The PM lauded telecom minister Ravi Shankar Prasad and his team for their efforts in providing a sound ecosystem for 'Digital India' and asked him to get the technology patented. Modi said he had been asked by African leaders if India could help them set up similar processes in their nations."
  • The Risk of Rising Consumer Borrowing - Wall Street Journal - "Since the financial crisis, mortgage lending has been hogtied with new regulations that make it more difficult, especially for young or subprime borrowers, to get home loans. But other forms of consumer credit, including auto, student and credit card loans, have been growing strongly in recent years, helping boost retail spending, a major driver of economic growth."
  • Simple Shows Exactly Why Customers Don’t Trust Fintechs - Bank Innovation - "In February, the company reportedly had already transitioned 87% of its total customer accounts to BBVA, and now, about two months later, the accounts that have not yet been transferred for whatever reason will be automatically shut down. "

ON THE WIRES

  • E-commerce fraud increased 33 percent in 2016 - "Fraudsters continue to migrate their activities online as more merchants switch to EMV terminals and consumers receive chip-and-pin credit cards. Experian® analyzed this trend in a new report, the 2016 E-commerce Fraud Attack Rates rankings, that analyzes millions of e-commerce transactions and ranked the top states, cities and ZIP™ codes for shipping and billing fraud across the United States."
  • Zelle NetworkSM Banks Process 170-Million P2P Payments, Totaling $55-Billion in 2016 - "Early Warning Services, an industry-leader in real-time payment, authentication, and risk mitigation, today announced that financial institutions in the Zelle NetworkSM processed more than 170-million person-to-person (P2P) payments in 2016, totaling $55 billion in aggregate transaction value. The Zelle Network, built on the foundation of the clearXchange® Network, now includes 20 banks and credit unions, and is poised to reach an estimated 85-million consumers in the U.S. through the mobile banking apps of its participating institutions. New “Send Money with Zelle” experiences will be live in bank apps in mid-2017."

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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