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Headline News from PaymentsNews.com - August 3, 2017

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments consulting and education services to payments professionals worldwide!

ON THE WEB

  • EU sends charge sheet to Visa over inter-regional fees - Reuters - "The Commission said it was now looking at so-called inter-regional interchange fees, those charged to merchants when accepting Visa cards issued outside the European Economic Area (EEA), for example when tourists make purchases in the EU. "Inter-regional fees represent an important part of the total fees within the Visa scheme," the Commission said."
  • Small business loan platform Kabbage nabs $250M from Softbank - TechCrunch - "Kabbage, a company with some 115,000 customers and $3.5 billion in loans that has built an automated platform for lending money to small businesses and individuals using a large set of data points to determine a customer’s credit score, is announcing some big cabbage of its own today."
  • Square continues its stellar stock market run - TechCrunch - "Square, the payments processing company founded by Jack Dorsey, reported its second quarter earnings after the bell on Wednesday...Gross payment volume, a measurement of total transactions, was $16.4 billion, up 32% since last year. Once known as the payment platform for food trucks, Square has been attracting larger businesses as well. GPV from its “midmarket sellers,” which are defined as larger sellers that generate more than $500,000 in annualized GPV, grew 61% since last year and accounted for 19% of GPV."
  • Pay-Over-Time Technology Startup Bread Raises $126 Million - Retail Touch Points - "Bread, a consumer purchase finance technology company that builds customizable pay-over-time solutions for online merchants, has closed $126 million of equity and debt financing. "
  • Global Payments to Buy Two Divisions of Active Network in $1.2 Billion Deal - Wall Street Journal (Paywall) - "Global Payments Inc. said Thursday it has agreed to buy the communities and sports divisions of technology and media company Active Network Inc. in a cash and stock deal valued at roughly $1.2 billion. Active Network, which makes software that helps Web users find and register for events online, was taken private by Vista Equity Partners in 2013."
  • Apple CFO details mobile payment service expansion - Mobile World Live - "Apple Pay will launch in the UAE, Denmark, Finland and Sweden by the end of the year, expanding service availability to 20 countries. Its launch in the UAE will be Apple Pay’s first market in the Middle East and Africa, having focused initial launches in North America, Europe and Asia."
  • PayPal, GoFundMe, And Patreon Banned A Bunch Of People Associated With The Alt-Right. Here's Why. - BuzzFeed - "Prominent members of the so-called alt-right and other right-wing movements often rely on crowdfunding platforms and online payment processors to fund their causes (and sometimes even their bail), but lately they’ve been having trouble accessing the money donated by their supporters."
  • MultiChain 1.0: Bitcoin-Compatible Private Blockchain Opens for Enterprise - Coindesk - "A modified version of bitcoin's software is now available for enterprise use. Built over the course of almost four years by venture-backed startup Coin Sciences, the open-source MultiChain 1.0 software is said to inherit much of the security and stability of its predecessor, but with differences designed to make it more suitable for corporate users."
  • Soon, walk into metro station without taking your card from pocket - Times of India - ""The cards with embedded chips will cut down queues at ticket counters and save time for passengers," said an official. "It is similar to a system abroad where cars with small chips cross toll booths. Scanners at these booths detect the chip and the money get deducted from the owner's account. Metro rail facilities in a few countries have introduced this system," an official said. "Here, this system will be more effectively when patronage goes up. It could eventually be used for buses when inter-modal facility is functional.""
  • Software Emerges to Ease Merger of Online And In-Store Payments Data for Merchants - Digital Transactions News - "As merchants and payments processors wrestle with linking e-commerce transaction data with data generated from in-store payments, vendors are starting to offer products to ease that connection. An early player is Creditcall Ltd., which on Monday introduced software that allows processors to combine data streams from a merchant’s online and in-store operations without lengthy or complicated integrations."

ON THE WIRES

  • SCAM Alert - Federal Reserve Bank routing numbers cannot be used for Georgia Power bills - "Georgia Power has received reports of a new scam in which criminals sell Federal Reserve Bank routing numbers to customers with instructions to use the routing numbers to pay utility and other bills from nonexistent accounts. According to a news release from the Federal Reserve Bank of Atlanta: Federal Reserve routing numbers are used for sorting and processing payments between banks. Any video, text, email, phone call, flyer, or website that describes how to pay bills using a Federal Reserve Bank routing number or using an account at the Federal Reserve Bank is a scam."
  • USAA Launches Pilot of New Skill for Amazon Alexa @ USAALabs.com - "Just like that, Amazon Alexa can help USAA members access information about account balances, transactions, and spending patterns. USAA is piloting this new member service at www.USAALabs.com to answer some of the most frequent and basic questions fielded by service representatives answering member phone calls. The pilot is designed to provide a conversational experience with Amazon Alexa utilizing artificial intelligence technology developed by Clinc."
  • Global Payments to Acquire ACTIVE Network; Announces Strategic Partnership with Vista Equity Partners - "Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology services, announced today an agreement to acquire the communities and sports divisions of ACTIVE Network from Vista Equity Partners. ACTIVE Network delivers cloud-based, mission critical enterprise software, including payment technology solutions, to event organizers in the communities and health and fitness verticals. The outdoors division of ACTIVE Network will be retained by Vista Equity Partners."
  • Mastercard and PayPal Expand Partnership in Asia Pacific to Spur Mobile and Digital Commerce - "The deal will expand PayPal’s presence at the point of salei and enable Masterpass for Braintree merchants in the region. Additionally, both companies will collaborate to create opportunities to leverage Mastercard’s new payment flow technologies, providing increased value to Mastercard cardholders, financial institutions, and PayPal customers. PayPal will also have the opportunity to give consumers and small businesses across Asia Pacific the ability to cash out funds held in their PayPal accounts to a Mastercard debit card."

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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