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Headline News from PaymentsNews.com - June 15, 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 India gears up to expand scope of digital payments service in India - livemint - "Amazon India indicated that it is witnessing rapid growth from its Amazon Prime membership programme amid a healthy increase in the number of new users from second and third-tier cities and towns, even as the e-commerce giant looks to broaden the scope of its digital payments service in India after getting the go-ahead from the Reserve Bank of India to potentially launch its own digital wallet service."
  • India’s MobiKwik is raising new funding at $1B valuation to battle payment rival Paytm - TechCrunch - "MobiKwik, the mobile payments startup that is number two to Paytm in India, is quietly confident that it can take advantage of its rival’s focus on e-commerce and recent entry to banking to even the playing field. To strengthen its case, MobiKwik, which is solely focused on payments, is in the process raising its largest financing from investors to date."
  • Amazon unveils $20 Dash Wand with Alexa for voice-enabled grocery ordering and home controls - GeekWire - "Amazon just introduced a new Alexa device: a $20 version of its Amazon Dash Wand with the voice-enabled smart assistant built in for ordering food, getting recipes and controlling smart-home devices. The new device is exclusive to Prime members, and works in conjunction with the AmazonFresh grocery service."
  • Swedish commuters validate tickets using NFC microchips implanted in their hands - NFC World - "Commuters travelling on trains run by Swedish transport operator SJ are trialling a system that lets them have their ticket validated using an NFC microchip implanted in their hand. The microchip ticket is being piloted with customers who are SJ Prio members and the project “will be assessed on an ongoing basis”."
  • Your money: Consumers grapple with tip inflation - Reuters - "But with the advent of pre-calculated tipping options, and apps like Square that allow businesses to customize payment screens, consumers are prompted for tips in unfamiliar circumstances. Options in the 20-25-30 percent range pop up with increasing frequency. Welcome to the phenomenon of "tip inflation.""
  • Game of Bluffs? With Bitmain Plan, Bitcoin Scaling Becomes Digital 'Missile Crisis' - Coindesk - "Long a sort of Cold War, bitcoin's scaling debate is escalating into what may be best described as a digital Cuban Missile Crisis. No longer open for diplomacy, users of the $40bn economic network, which hit an all-time high in value last weekend, are now in the midst of evaluating an ever-increasing array of threats from various network stakeholders, each of whom is seeking to steer discourse and development."
  • The Bitcoin Selloff You Knew Was Coming Has Arrived - Wall Street Journal - "The parabolic gains in bitcoin and digital currencies this spring have reversed course sharply in the last day. Bitcoin was down as much as 12% on Thursday, pulling down virtually every of the “altcoins” along with it. Since cresting over the $3,000 mark on Monday, bitcoin has fallen about 27%. By traditional capital market standards, that drop would constitute a new bear market, but bitcoin is not a traditional capital asset."

ON THE WIRES

  • Financial Solutions Lab Announces Winners of $3 Million Fintech Competition to Improve Financial Health of Overlooked Populations in America - "Today the Financial Solutions Lab (FinLab) at the Center for Financial Services Innovation (CFSI) with founding Lab partner JPMorgan Chase & Co. (NYSE:JPM) announced eight financial services innovators as the winners of its third competition, aimed at identifying solutions that can help Americans improve their financial health. Each winner will receive $250,000 in capital and additional resources to test, enhance and scale their products, many of which are designed to address the needs of often overlooked populations, such as people of color, low-income women, aging Americans, and individuals with disabilities."
  • Worldwide Spending on the Internet of Things Forecast to Reach Nearly $1.4 Trillion in 2021, According to New IDC Spending Guide - "The IoT use cases that are expected to attract the largest investments in 2017 include manufacturing operations ($105 billion), freight monitoring ($50 billion), and production asset management ($45 billion). Smart grid technologies for electricity, gas and water and smart building technologies are also forecast to see significant investments this year ($56 billion and $40 billion, respectively). While these use cases will remain the largest areas of IoT spending in 2021, smart home technologies are forecast to experience strong growth (19.8% CAGR) over the five-year forecast. The use cases that will see the fastest spending growth are airport facilities automation (33.4% CAGR), electric vehicle charging (21.1% CAGR), and in-store contextual marketing (20.2% CAGR)."

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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