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May 15, 2017

Headline News from PaymentsNews.com - May 15

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Vodafone's SAfrican arm Vodacom to take over stake in Kenya's Safaricom - Reuters - "Safaricom, which is 35 percent owned by Kenya's government, said in a statement the deal promoted the continued successful expansion of the company as well as the opportunity to take M-Pesa into other African markets."
  • Carrefour and BNP Paribas unveil “universal” mobile payments and loyalty service - NFC World - "Supermarket giant Carrefour and French bank BNP Paribas have unveiled a new QR code-based mobile payment platform that will let customers make in-store, online and peer-to-peer (P2P) mobile payments as well as store loyalty cards, coupons and special offers on their mobile device. The service will be rolled out across France this month with support from Crédit Mutuel, Auchan, Mastercard, Oney and Total."
  • All About Bitcoin, the Mysterious Digital Currency - New York Times - "As the hackers behind the global ransomware attack demand payment in Bitcoin, here is a look at the basics behind the electronic currency."
  • Bank of America Chats About Erica, Its New Digital Assistant - Wall Street Journal - "Bank of America Corp. plans to debut this year an AI-powered digital assistant named Erica, which consumers can chat with through voice or text message through the bank’s mobile app. Speaking Thursday at a financial technology summit, executives said the chatbot represents the bank’s measured approach to artificial intelligence, developing uses for the technology only in areas where the company thinks clients will truly benefit."
  • In Cashless Sweden, Even God Now Takes Collection Via an App - Bloomberg - "In the most cashless society on the planet, even God now accepts digital payments. A growing number of Swedish parishes have started taking donations via mobile apps. Uppsala’s 13th-century cathedral also accepts credit cards. The churches’ drive to keep up with the times is the latest sign of Sweden’s rapid shift to a world without notes and coins. Most of the country’s bank branches have stopped handling cash; some shops and museums now only accept plastic; and even Stockholm’s homeless have started accepting cards as payment for their magazine. Go to a flea market, and the seller is more likely to ask to be paid via Sweden’s popular Swish app than with cash."
  • Why Amazon is eating the world - TechCrunch - "I’ve followed AWS and Amazon’s other various offerings for some time, as well, and Amazon as a company has become something of a personal obsession of mine. I have some further thoughts on Amazon and the impending retail apocalypse that I wanted to share for those who are interested in the overall future of retail."
  • Why Alipay Is So Intent on ‘Ubiquity’ in North American Merchant Acceptance - Digital Transactions News - "When it comes to establishing merchant acceptance in North America, Alipay’s ambitions go well beyond niche markets. In fact, “When we’re looking at partners, we’re looking for ubiquity,” Souheil Badran, president of Alipay North America, tells Digital Transactions News in a wide-ranging interview."
  • COBOL Is Everywhere. Who Will Maintain It? - The New Stack - "Think COBOL is dead? About 95 percent of ATM swipes use COBOL code, Reuters reported in April, and the 58-year-old language even powers 80 percent of in-person transactions. In fact, Reuters calculates that there’s still 220 billion lines of COBOL code currently being used in production today, and that every day, COBOL systems handle $3 trillion in commerce. Back in 2014, the prevalence of COBOL drew some concern from the trade newspaper American Banker."
  • Global ‘Wana’ Ransomware Outbreak Earned Perpetrators $26,000 So Far - Krebs on Security - "As thousands of organizations work to contain and clean up the mess from this week’s devastating Wana ransomware attack, the fraudsters responsible for releasing the digital contagion are no doubt counting their earnings and congratulating themselves on a job well done. But according to a review of the Bitcoin addresses hard-coded into Wana, it appears the perpetrators of what’s being called the worst ransomware outbreak ever have made little more than USD $26,000 so far from the scam."

ON THE WIRES

  • Credit, Debit Card Fraud Alerts Up 15% Since 2015 - "Credit and debit card fraud alerts are up 15% from two years ago, according to a new CreditCards.com report. 31% of U.S. adults have received a fraud alert regarding a credit card and 25% have received one concerning a debit card."
  • Trulioo Launches ID Document Verification with Facial Comparison Technology - "Trulioo, the leading global identity verification company, has launched an ID document verification solution with facial comparison technology to provide an added layer of authentication to its comprehensive identity verification platform. The combination of electronic identity verification (eIDV) and ID document verification enables clients to strike the right balance of offering consumers a simple onboarding experience while ensuring the enterprise adheres to cross-border Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance requirements."
  • Digital, Decisive and Drone-Ready: American Express Commissioned Study Shows Gen Z’s Customer Experience Expectations - "The study findings show that Gen Z is already financially empowered, with 81% making purchases on their own, has mobile spending power, with 59% having made a purchase via mobile app in the last year and that they have high expectations from brands when it comes to gaining their trust. 46% of Gen Z respondents said that data security and privacy is a must-have to keep their business."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series will be in Atlanta, May 16-18. Come for the two day boot camp or attend all three days. For those of you who plan ahead, we have our fall schedule lined up, too. Check out our entire boot camp schedule here. We hope to see you soon!

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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