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June 14, 2017

Headline News from PaymentsNews.com - June 14, 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

  • Amazon gives 2% rewards back to Prime members who deposit cash via their bank account - GeekWire - "Amazon today added a new way for Prime members to earn cash-back. “Amazon Prime Reload” gives customers 2% back when they reload their Amazon Gift Card Balance with a connected checking account and linked debit card. For example, if you load $100 onto your Gift Card Balance from your checking account, you’ll get an extra $2 in Amazon dollars added within minutes."
  • Visa rolls out new framework to speed up B2B payment services - Cards International - "Visa has introduced a new strategic framework, known as Visa Ready Program for Business Solutions, which will help speed up business-to-business (B2B) payment services. The new programme will help technology firms that integrate with Visa’s B2B payment services and data solutions ensure that they are in line with Visa’s standards. At the outset, Bora Payment Systems, Bottomline Technologies, CSI globalVCard, MineralTree and Priority Commercial Payments will receive Visa Ready for Business Solutions approval and bring latest Visa payments to business customers."
  • The blockchain paradox: Why distributed ledger technologies may do little to transform the economy - Oxford Internet Institute - "Bitcoin’s underlying technology, the blockchain, is widely expected to find applications far beyond digital payments. It is celebrated as a “paradigm shift in the very idea of economic organization”. But the OII’s Professor Vili Lehdonvirta contends that such revolutionary potentials may be undermined by a fundamental paradox that has to do with the governance of the technology."
  • Paytm Mall to bring brick-and-mortar stores online via QR codes - livemint - "Paytm Mall, the e-commerce arm of payments firm Paytm, on Wednesday said it will enable physical stores to display QR codes (quick response), allowing customers to scan the code, browse and shop from the stores’ catalogue on Paytm Mall."
  • Mastercard and Oxford University unveil framework for mobile biometric banking - Biometric Update - "Since 93 percent of consumers prefer biometrics to passwords, according to researchers, and 92 percent of banks want to adopt biometric technology, its adoption should be advancing rapidly. Only 13 percent have deployed biometrics, and only 36 percent of the involved decision-makers say they have adequate experience to tackle the situation, however, and this shortfall motivated Oxford and Mastercard to release a “Five Factor Framework” for mobile biometrics."
  • What Canada is doing to transform the way we pay for almost everything - Financial Post - "The friction is why credit card payments can take a couple of days to hit a merchant’s account, he says, and partly why international cheques can take up to a month to clear. The friction is why credit card payments can take a couple of days to hit a merchant’s account, he says, and partly why international cheques can take up to a month to clear."
  • Report: How Involuntary Churn Threatens the Growing Subscription Payments Model - Digital Transactions News - "The report, which canvassed more than 200 subscription and recurring payments professionals and was conducted by Forrester Research Inc., found that payment-related failures are the most common reason for involuntary churn. In these cases, the recurring payment fails because of insufficient funds or a technical reason. Overall, 66% of the surveyed companies are able to retain 66% of their subscribers, but lose an average of 34% to churn."

ON THE WIRES

  • New FICO Fraud Solution Can Identify the Source of Compromised Cards Faster - "Silicon Valley analytics firm FICO today announced the availability of FICO® Card Compromise Manager, an anti-fraud solution that proactively detects and prioritizes compromised merchants and data breaches involving card data. A powerful companion to FICO® Falcon® Platform, Card Compromise Manager is capable of detecting card present, card not present and ATM fraud. It uses advanced analytics to provide a ranked list of potential compromises and recommended actions to minimize losses and customer impact."
  • Early Warning & Payfone Sign Agreement To Provide Mobile Identity Authentication Solutions For Zelle (SM) - "Payfone, a leader in mobile identity authentication for digital channels, today signed an agreement with Early Warning Services to provide mobile authentication technologies for ZelleSM. Payfone risk assessment solutions will help streamline consumer enrollment and transaction authentication processes, enabling more consumers to take advantage of the speed and simplicity of person-to-person (P2P) payments."

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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