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June 12, 2017

Headline News from PaymentsNews.com - June 12, 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

  • Banks Across U.S. Debut Faster Peer-to-Peer Payments With Zelle - Bloomberg - "More than 30 U.S. banks and credit unions are unveiling a unified service to customers this week, called Zelle, after years of watching Silicon Valley innovators from Square Inc. to Apple Inc. build peer-to-peer payment systems. It will supplant a patchwork of products the biggest banks have offered their customers for years. This time, the service is faster and so broad, that chances are it already has your money."
  • After a 12-Year Ride, Changing Market Conditions Spur VeriFone To Ditch Taxis - Digital Transactions News - "The need for greater investment to grow what is currently a low-margin business prompted San Jose, Calif.-based VeriFone to divest its Taxi Solutions unit, top executives said Thursday at a quarterly earnings call with analysts. While VeriFone expects the unit to generate $60 million in revenues in 2017’s second half, chief financial officer Marc Rothman said its margins are “significantly lower” than the average for VeriFone’s overall services business."
  • Amazon loaned SMEs $3 billion since 2011, $1 billion in the past year alone - VentureBeat - "Amazon Lending is available on an invite-only basis to small businesses that sell goods through Amazon’s online marketplace. It was initially only available in the U.S. before it was expanded to Japan, followed by the U.K. in June 2015. The company previously revealed plans to expand the offering to a number of other countries, including China and Canada, but it appears this has yet to come to fruition."
  • Wal-Mart Entices Credit Card Applicants With Instant Access Via Walmart Pay - Digital Transactions News - "Wal-Mart Stores Inc. is giving customers another reason both to take its credit cards and use its Walmart Pay mobile wallet by enabling new cardholders to use their credit accounts immediately upon approval via Walmart Pay rather than having to wait for a plastic card to come in the mail."
  • Ant Financial extends online credit service to retailers - China Daily - "Ant Financial Services Group, the online finance firm backed by billionaire Jack Ma, will extend its online consumer credit service to four million retail businesses across the country to boost sales and encourage spending-as China's consumers increasingly feel more comfortable shopping with borrowed money."
  • Target and Cartwheel apps to merge starting this summer, mobile payments and improved maps to follow - TechCrunch - "Target’s mobile app strategy will undergo a significant change, starting this summer. The retailer announced this week it will soon combine the functionality of its Cartwheel savings app with its main shopping app, in preparation for an eventual Cartwheel shutdown. The Target app will also receive a notable upgrade this year, adding support for an indoor map that shows your location in the store, along with the nearby Cartwheel deals, in addition to support for mobile payments."
  • Blockchain successfully tested in sale of mutual funds - Financial Times (Paywall) - "Calastone, the technology company, said it had successfully used blockchain to buy and sell mutual funds under test conditions, in a move that could help spur a revolution in the asset management industry by cutting costs and improving efficiency."
  • Hackers Are Hijacking Phone Numbers And Breaking Into Email, Bank Accounts: How To Protect Yourself - Forbes - "With just your phone number and a little bit of what’s called “social engineering” in which a hacker doesn’t necessarily need technical knowledge but just to convince a customer service rep that they are you, a maliciously intentioned person can break into all the above accounts and more."

ON THE WIRES

  • More Banks and Credit Unions to Join Zelle through Fiserv Partnership with Early Warning - "Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that multiple banks and credit unions will join the Zelle Network℠ through Turnkey Service for Zelle℠ from Fiserv, allowing consumers to make fast person-to-person (P2P) payments directly from their online banking sites and mobile banking apps."
  • TSYS Announces Foresight Score with Featurespace - "TSYS (NYSE: TSS), in conjunction with Featurespace, announced a new fraud prevention product today, called TSYS Foresight ScoreSM with Featurespace®. Foresight Score is a fraud and risk scoring tool that incorporates innovative machine learning — a form of Artificial Intelligence (AI) that allows software to learn over time without being explicitly programmed — to bolster an issuer’s ability to fight transactional fraud. It was built in partnership with Featurespace and relies on their powerful and proven adaptive behavioral analytics platform — known as ARIC®."
  • Diebold Nixdorf And Samsung SDS Demonstrate Next Step In Cardless ATM Transactions With Mobile-based Biometric Authentication - "To maximize consumer convenience, the innovative approach enables consumers to stage a withdrawal via their mobile banking app prior to arrival. Once they approach the ATM, the consumer simply taps their Samsung Galaxy S8 mobile device to the near field communications (NFC) reader on the ATM, confirms their transaction and instantly receives a prompt to complete authentication via facial recognition on their mobile device. Once verified, cash will dispense and the transaction is complete in less than half the time of a standard ATM transaction. This technology and experience can also support customers using other Android and iOS devices."

GLENBROOK PAYMENTS EDUCATION EVENTS

Understanding the accelerating pace of change in the payments industry 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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