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Headline News from PaymentsNews.com - July 7, 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

  • Nacha sets sights on standardised APIs - Finextra - "While the use of APIs by financial services firms has begun to pick up in Europe, adoption continues to be slow in the US. With a quarter of developers citing standardisation as the biggest challenge they want to see the API industry fix in the coming years, Nacha has created a dedicated working group, which had its first meeting in May."
  • New Fintech Technology So Far Has Failed To Crush Cash, International Survey Finds - Digital Transactions News - "Israelis are much more likely to use mobile-banking apps and mobile wallets than Americans, but at least Americans are less inclined to use cash than Germans, according to a recent international survey of consumer usage of financial technology. "
  • Bank Behind Gap and JC Penney Store Cards Looks Beyond Retail - Business of Fashion - "The largest issuer of private-label credit cards in the US saw its shares drop to their lowest in about seven months on May 11, the day of Macy’s disappointing first-quarter earnings. There’s just one problem: “Macy’s announced and we went down, and we don’t even have Macy’s,” Synchrony’s chief executive officer Margaret Keane said in an interview at Bloomberg headquarters in New York. “We do have to think about more diversification.”"
  • 22 global banks join Swift blockchain project - Payment Cards & Mobile - "Swift says that is has signed an additional 22 banks to its blockchain proof of concept (PoC). The project is designed to determine if blockchain technology can help banks reconcile their international nostro accounts in real time and is part of Swift’s Global Payments Innovation (GPI)."
  • Sweden's iZettle 2016 loss narrows as it prepares for listing - Reuters - "Mobile payment solutions firm iZettle's said on Thursday its loss narrowed last year while revenue grew sharply as the company prepares for a potential listing. One of Europe's fastest growing tech start-ups, iZettle reported a 60 percent rise in revenue and said it expected to continue to improve profitability in 2017."
  • Mobike partners with MasterCard to support digital payment drive in Singapore - Cards International - "As part of collaboration, Mobike will integrate MasterCard digital payment solution Masterpass into its mobile application that will allow riders to make quick and secure in-app payments. Additionally, the partnership will bring real insights into the way urban residents travel, and enable local city planners to examine Singapore’s transportation systems and how they can be made smarter and more flexible."
  • Forget an IPO, Coin Offerings Are New Road to Startup Riches - Wall Street Journal (Paywall) - "Two obscure companies with no sales raised nearly $400 million combined in recent days from outside investors. How did they do it? Via a new, unregulated fundraising method that has no connection to Wall Street and is based in the world of cryptocurrencies."
  • B&B Theatres Hit in 2-Year Credit Card Breach - Krebs on Security - "B&B Theatres, a company that owns and operates the 7th-largest theater chain in America, says it is investigating a breach of its credit card systems. The acknowledgment comes just days after KrebsOnSecurity reached out to the company for comment on reports from financial industry sources who said they suspected the cinema chain has been leaking customer credit card data to cyber thieves for the past two years."

ON THE WIRES

  • Citi Pay Launches in the U.S. - "Citi Mastercard credit customers in the U.S. can begin using Citi Pay, a digital wallet that offers seamless payments across channels with card number protection through tokenization. Simply using their existing Citibank online user ID and password, customers will be able to make online and in-app purchases."
  • Cubic and Transport for New South Wales Launch First Trial of Open Payment Technology in Australia - "Cubic Transportation Systems (CTS), a business unit of Cubic Corporation (NYSE:CUB), today announced its participation in the first transport open payment trial in Australia with its customer Transport for New South Wales (TfNSW), similar to the technology in London where the contactless “pay as you go” bank card has logged more than one billion journeys to date. Details of the trial were announced today by New South Wales Minister for Transport and Infrastructure Andrew Constance. The trial on the popular Manly Ferry service leverages the technology behind the Opal smart card ticketing system, installed and operated by Cubic."
  • Hard Rock Hotels & Casinos Notifies Guests of Third-Party Vendor Security Incident - "Hard Rock Hotels & Casinos values the relationships with its guests and understands the importance of data safety. The brand was recently notified of a security incident through third-party hotel reservation system – The Sabre Hospitality Solutions SynXis. Following an examination of evidence, Sabre alerted Hard Rock Hotels & Casinos on June 6, 2017 that an unauthorized party gained access to account credentials that permitted unauthorized access to unencrypted payment card information, as well as certain reservation information, for a subset of hotel reservations processed through the reservation system. The investigation determined that the unauthorized party first obtained access to payment card and other reservation information on August 10, 2016. The last access to payment card information was on March 9, 2017. To support its investigation, Sabre engaged a leading cybersecurity firm, Mandiant, and notified law enforcement and the payment card brands about this incident."

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. Take a discount for attending all three days. Here's our fall schedule:

  • Payments Boot Camp, October 3-4, 2017, San Jose, CA, Logistics
  • Payments Boot Camp, October 17-18, 2017, NYC, NY, Logistics
  • Payments Boot Camp, December 5-6, 2017, Palo Alto, CA, Logistics
  • Global Payments, October 5, 2017, San Jose, CA, Logistics
  • Digital Payments, October 19, 2017, NYC, NY, Logistics
  • Innovation in Payments, December 7, 2017, Palo Alto, CA, Logistics
  • For more, click 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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