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May 17, 2017

Headline News from PaymentsNews.com - May 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

  • Apple Pay launches in Italy with support from UniCredit and Carrefour Banca - NFC World - "Apple Pay has begun rolling out across Italy with support for Mastercard and Visa cards issued by Carrefour Banca and UniCredit, with American Express, CartaBCC, ExpendiaSmart, Fineco Bank, Hype, Banca Mediolanum, N26 and Widiba listed as “coming this year”. The launch takes Apple Pay to a total of 16 markets globally."
  • FinTech Alternatives to Short-Term Small-Dollar Credit: Helping Low-Income Working Families Escape the High-Cost Lending Trap - Harvard Kennedy School - "The focus of this paper is the most promising alternative to the current short-term, small-dollar credit (“STSDC”) system serving low-income working families --the rapidly growing U.S. financial technology software –or “FinTech”--industry."
  • Xapo to Pass On Bitcoin Network Fees to Users - Coindesk - ""Due to the increase in transaction volume of the bitcoin network, we'd like to give our users some control over their transactions. That being said, Xapo will give you the ability to select which type of fee you'd like to pay – a standard or high priority fee – thus allowing you to choose how quickly you'd like for your transaction to be processed!""
  • Starbucks Payment Systems Crash After Company Updates Technology - Bloomberg - "Starbucks Corp., the world’s biggest coffee-shop chain, suffered crashes at some of its payment systems following a routine technology update. The problems struck cafes in North America, preventing an unspecified number of registers from working, according to company spokesman Reggie Borges."

ON THE WIRES

  • Global Payments Introduces Xenial™: An Industry-First, Cloud-Based Restaurant Management Platform - "Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology services, today announced the release of Xenial. Launched by Heartland Commerce, a subsidiary of Global Payments, Xenial is revolutionizing the restaurant industry by bringing to market a first of its kind cloud-based, operating system-agnostic global platform. Leveraging Software as a Service (SaaS), Xenial delivers powerful and easy-to-use technology to restaurant operators of any size."
  • China's biggest mobile payment service launches in Toronto - "Tourism Toronto announced today a new strategic partnership with OTT Financial Group that introduces the Chinese mobile payment service, WeChat Pay, into local tourism businesses to boost travel and shopping consumption by Chinese travellers. WeChat is China's largest mobile messenger app with 840 million active users who can use the app to buy products and book travel. OTT is working with Tourism Toronto to set up the mobile payment infrastructure, making it the first partnership of its kind in Canada. "
  • Grubhub Partners with Point of Sale Leaders to Create Streamlined Restaurant Management Solutions - "Grubhub, the nation's leading takeout marketplace, today announced its integration with industry-leading point of sale (POS) systems, Breadcrumb POS by Upserve and Toast. Restaurants using these systems can now manage all of their orders, both in-house and takeout, from one device. The new integration will also allow restaurants to more efficiently staff, save time on menu updates, consolidate financials and free up space on the crowded delivery tablet counter."
  • Coupa Payments to Digitize Global Supplier Payments - "Coupa Software (NASDAQ:COUP), a leader in cloud-based spend management, will launch Coupa Payments today to streamline the disparate and complex cross-border payment systems often used by buyers to transact with suppliers globally. Coupa Payments will help unify those systems by digitizing supplier payments and automating related payment processes with a cloud e-payables solution where nearly any supplier - regardless of size or location - is paid electronically and securely. Electronically-rendered payments enable suppliers to receive funds faster while customers enjoy a discounted payment amount. Moreover, customers benefit from Coupa Payments through reduced Accounts Payable costs, increased efficiency, and stronger supplier relationships."
  • Masterpass by Mastercard Gives U.S. Bank Customers Freedom to Shop Across Devices and Channels - "From purchasing a train ticket, buying groceries, splitting the check or paying right at a restaurant table, Masterpass simplifies the checkout experience across a wide array of retailers. U.S. Bank customers that use Android devices can use this service at more than six million contactless-enabled merchants across the globe. Masterpass is also accepted at hundreds of thousands of merchants for seamless online and in-app payments."
  • WEX Signs Multi Country Long-Term Fuel Card Processing Deal with Chevron - "Chevron, a leading global integrated energy company, has selected WEX to develop, support and manage a fuel card processing platform for Chevron in 5 countries namely, Singapore, Hong Kong, Malaysia, Thailand and the Philippines. The second pillar of the deal includes an agreement to process Chevron’s fuel cards over the next 10 years."
  • Optimism Trends Upward and Growth is Top Priority, Says American Express OPEN Small Business Monitor - "Optimism among small business owners is on the rise, according to the 2017 American Express OPEN Small Business Monitor. The annual survey found that nearly three quarters of business owners have a positive outlook on the economy and their own business prospects over the next six months (72%, up from 64% 2016 and 67% 2015). This rosy outlook is translating into immediate plans for growth. Business owners have made growth their single most important priority, surpassing keeping/maintaining current business and sources of revenue for the first time since Spring 2011."
  • Wells Fargo Explores the Future of Security & Authentication - "Wells Fargo (NYSE:WFC) announced today that it has selected two new companies – ProxToMe and Uniken – to join the Wells Fargo Startup Accelerator. Each participant in the non-exclusive, six-month program is eligible to receive up to $500,000, mentoring, and guidance in refining their potential breakthrough technologies for the financial services industry. Wells Fargo business and technology leaders will work closely with the companies to test concepts for corporate and retail customers while helping them accelerate time to market for their services."

GLENBROOK PAYMENTS EDUCATION EVENTS

Understanding and managing the accelerating pace of change in payments has never been more important. Get the knowledge you need fast at one of our two day Payments Boot Camps. Our one day Insight Workshops follow each Boot Camp and are deep dives into key topics such as digital payments and the global phenomenon of real-time push payments. Take a discount for attending all three days. Our workshop schedule is all set for the fall. Check it out 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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