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February 17, 2017

Headline News from PaymentsNews.com - February 17, 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

  • The Clearing House calls for overhaul of AML practices - Finextra - "US bank lobby group The Clearing House has called for an overhaul of how its members deal with AML requirements, arguing that they should spend less time and money on submitting suspicious activity reports and instead concentrate on using more innovative methods to thwart money laundering and terrorist financing."
  • Top 3 technologies revolutionizing ecommerce - Mobile Commerce Daily - "We analyzed the top 3 most successful technologies impacting the ecommerce industry today."
  • Bank of Canada: Digital Currencies Need Regulation to Succeed - Coindesk - "Researchers from Canada's central bank argue that private digital currencies like bitcoin won't succeed in the long-term without some kind of government involvement."
  • Kenyan banks roll out PesaLink real-time direct P2P mobile payments - NFC World - "Kenya’s new digital payments platform PesaLink, that will enable consumers to make real-time mobile person-to-person (P2P) payments from US$0.10 up to US$9,650 at any time without having to go through intermediaries, is “expected to cut the cost of transactions and transform the way consumers interact with their banks”, the Kenya Bankers Association (KBA) says."
  • Fujitsu Announces Biometric Authentication Platform for the IoT - Mobile ID World - "The system takes an on-device approach to biometric data, adhering to FIDO Alliance standards. When a user needs to access an IoT device or service, she needs only to perform a biometric scan for authentication on her smartphone; confirmation of authentication then passes through a secure connection to a cloud-based server, while NFC technology is used to confirm that the user is in proximity to the IoT device or service she is trying to access."

ON THE WIRES

  • EMV Payment Card Market Struggles Amidst Overstocking Issues and Near Saturation Levels in China and the U.S. - "ABI Research finds global EMV payment card shipments reached just under three billion in 2016, marking a year-on-year (YoY) increase of less than 1%. Between 2012 and 2015, the market became accustomed to annual growth rates in the 20% to 35% range, as first China and then the U.S. began their respective migration programs. But as overstocking, paired with near saturation points, hit both countries simultaneously, orders significantly slowed in 2016 to impact the overall market."

GLENBROOK PAYMENTS EDUCATION EVENTS

The next Glenbrook Payments Boot Camp is March 7-8, 2017 in San Jose, CA. On March 9, still in San Jose, will be our Digital Payments Insight Workshop. Following that, our next public Boot Camp and Insight Workshop combination will be in New York City in April followed by Atlanta in May. Check out our spring schedule here. We hope to see you there!

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!

February 16, 2017

Headline News from PaymentsNews.com - February 16, 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

  • Caring for Smart Chip Cards - New York Times - "Like their magnetic-stripe predecessors, the smart chips on the front of the card can be damaged by scrapes from keys, coins and other items with sharp edges. Exposure to liquids and other substances can also harm the chip. "
  • IBM links with Indiegogo, Visa, Bosch and more in $3B IoT push - TechCrunch - "The Visa deal will see IBM embed Visa’s tokenization technology (the security layer for mobile and other transactions that means no payment details get stored in the payment instrument) into its Watson IoT platform. This will mean that any connected device on a network powered by Watson can become a point of sale. This will be the first time that a company has worked with Visa — which powers 60 percent of the world’s transactions — to monetize IoT, IBM says. (Likely use cases will involve large networks of payment points in retail or public locations, for example.)"
  • State Bank of India Launches New Blockchain Finance Consortium - Coindesk - "India’s largest bank is spearheading a newly unveiled consortium focused on blockchain applications. According to local news outlets, the State Bank of India – which Fortune says held nearly $450bn in assets as of last year – is partnering with several technology firms and a group of domestic commercial banks on a new initiative dubbed ‘Bankchain’."
  • Kenya Bankers Association develops banking industry switch with Tieto - Payments Cards & Mobile - "The Tieto-developed payments software will enable KBA, via a subsidiary company called Integrated Payments Service Limited (IPSL), to develop instant payment services for the 45 KBA-member banks, becoming the first real-time interbank transaction platform in East-Africa region."
  • The Art of the Invisible Payment - FIS Payments Leader blog - "Invisible payments are quickly becoming mainstream, with a variety of approaches designed to make paying invisible and effortless."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

The next Glenbrook Payments Boot Camp is March 7-8, 2017 in San Jose, CA. On March 9, still in San Jose, will be our Digital Payments Insight Workshop. Following that, our next public Boot Camp and Insight Workshop combination will be in New York City in April followed by Atlanta in May. Check out our spring schedule here. We hope to see you there!

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!

February 15, 2017

Headline News from PaymentsNews.com - February 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

  • PayPal buys TIO Networks for $233 million - TechCrunch - "PayPal has agreed to buy bill payment management company TIO Networks for $233 million in cash. The deal will allow PayPal to gain access to a market of customers who pay their utility and cable bills at kiosks in locations like Rite Aid. This will help the company reach the “underserved” chunk of North Americans who are living paycheck-to-paycheck, some who even lack bank accounts. “There’s a chance to create a bridge for those users into the digital world,” Bill Ready, PayPal COO told TechCrunch. "
  • Microsoft Teams With KPMG to Launch Blockchain Workspace Network - Coindesk - "Dubbed "Blockchain Nodes", the workspaces are intended to serve as hubs for collaborative work on use cases, particularly those focused on finance applications. Of note is that the news expands an existing partnership, one that expanded last year that cover joint work on blockchain."
  • Introducing Square for Retail: A New Point-of-Sale App and Complete Set of Tools for Retail Businesses - Square blog - "Last year, retail businesses were responsible for 20 percent of all payments volume processed through Square. We built Square for Retail and our Square Retail app based on feedback from retail businesses we work with, like Pure Liquid Wine & Spirits."
  • Jaguar drivers in UK can now pay for Shell gas without leaving their car - Pocket-lint - "Jaguar has introduced a new app integration that allows some drivers to use their car’s touchscreen to pay for fuel. The Shell app, described as a new cashless payment app, will work with several Jaguar Land Rover models. With it installed, you can drive up to any pump at a Shell service station in the UK, and instead of using a card at the pump, you'd use the vehicle’s touchscreen to select how much fuel you require and then pay via PayPal or Apple Pay. Android Pay will be added in 2017."

ON THE WIRES

  • comScore Reports $109 Billion in Q4 2016 Total Digital U.S. Retail E-Commerce Spending, Up 18 Percent vs. Year Ago - "comScore today reported Q4 2016 U.S. retail e-commerce spending from desktop computers and mobile devices. For Q4 2016, $109.3 billion was spent online, marking an 18-percent increase versus the same quarter in 2015. The majority of online buying occurred on desktop computers, with $86.6 billion spent, up 13 percent vs. year ago. Meanwhile, m-commerce spending on smartphones and tablets contributed $22.7 billion, with a significantly higher year-over-year growth rate than desktop at 45 percent."
  • Intuit Goes Live On VersaPay ARC™ to Automate Its Invoice to Cash Process - "VersaPay Corporation (TSXV: VPY) ("VersaPay" or the "Company"), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, today announced that Intuit Inc. has implemented VersaPay ARCTM for select small business and accountant customers. The service allows the company's customers that primarily pay Intuit on a net term basis to use a self serve portal and pay online 24/7. This improves Intuit's collection tools and gives them the flexibility to better manage their invoice to cash cycle."
  • Vibe and WEX Announce Virtual Payments Agreement - "WEX Inc. (NYSE: WEX), a leading provider of corporate payment solutions, today announced a new agreement with Vibe Systems Ltd. Vibe delivers advanced front and mid office technology to travel businesses, such as online travel agencies, retail agencies, travel management companies and consolidators. The agreement allows a direct integration of WEX’s virtual debit, prepaid and credit cards with either pre- or credit funding into the Vibe platform which enables automated supplier payments in 24 currencies across the globe."

GLENBROOK PAYMENTS EDUCATION EVENTS

The next Glenbrook Payments Boot Camp is March 7-8, 2017 in San Jose, CA. On March 9, still in San Jose, will be our Digital Payments Insight Workshop. Following that, our next public Boot Camp and Insight Workshop combination will be in New York City in April followed by Atlanta in May. Check out our spring schedule here. We hope to see you there!

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!

February 14, 2017

Headline News from PaymentsNews.com - February 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

  • Banks Look to Cellphones to Replace A.T.M. Cards - New York Times DealB%k - "Wallets can be lost, stolen or forgotten, but most people today wouldn’t be caught dead without their phones. Banks understand, and are grabbing on to that trend. Customers who don’t want to fumble around in their wallet for their A.T.M. card — or who have misplaced it for the umpteenth time — will soon be able to unlock cash dispensers’ coffers by using their phone."
  • JP Morgan, Santander Said to Join New Ethereum Blockchain Group - Coindesk - "Dubbed Enterprise Ethereum, the project's founding membership is said to include major financial institutions, tech giants and natural resources companies. According to sources, participating firms include JP Morgan, CME Group, BNY Mellon, Banco Santander, Microsoft, Red Hat, Cisco, Wipro and British Petroleum, among others. Blockchain startups BlockApps, Brainbot Technologies, ConsenSys, Nuco and Tendermint – as well as the Ethereum Foundation, the non-profit that oversees its code creation – are also said to be involved."
  • The payments industry authentication debate – A balance, not a trade-off - Payments Cards & Mobile - "This issue is very much top-of-mind at present following the European Banking Authority’s (EBA) consultation on strong customer authentication. The proposals and their implications are wide-ranging and could mean the end of frictionless online check-out in Europe."
  • More than 150,000 Kenyan merchants to get mobile payments with Masterpass QR - NFC World - "More than 150,000 micro, small and medium enterprises (MSMEs) in Kenya will be able to accept in-store mobile payments using QR code technology in 2017, using Mastercard’s Masterpass QR platform. The service is set to be introduced through “various financial institutions and other partners” from this month."
  • Kudi wants to make it easier to pay bills in places where internet access is limited - TechCrunch - "Making payments and sending money to friends and family in Nigeria can be cumbersome. Y Combinator-backed Kudi, which recently launched in Nigeria, is aiming to make it easier for people to pay bills and pay each other via messaging. At its core, Kudi is a chatbot, which lives inside Facebook Messenger and eventually Skype, that helps you transfer money, buy airtime for your phone, pay bills and stay on top of your accounts."
  • Payoneer launches API so companies can add embedded payment options to their services - TechCrunch - "Payoneer, a provider of payment technologies that lets vendors sell to international customers in local currencies — allowing for easier cross-border payments, is launching an API. The move lets billing companies and service providers embed payment technologies in their existing services."
  • Introducing the New Braintree Drop-in Mobile Payment UI - Braintree blog - "For the second iteration of our Drop-in UI, we went back to the drawing board and took a hard look at what the first version did well and where it fell short. We reached out to merchants who use this feature and asked them what worked for them and what we could do better. We also retooled the API to make our Drop-in UI flexible enough to fit into almost any app’s checkout flow."
  • Pizza Hut leverages mobile ordering and Alexa to drive sales - Mobile Commerce Daily - "Pizza Hut is hoping to tap into Amazon’s suite of mobile applications and Alexa devices with a new promotion that gives a discount to consumers who place an order through an Alexa device. "
  • Amazon’s Living Lab: Reimagining Retail on Seattle Streets - New York Times - "Amazon’s success in online commerce has transformed Seattle by bringing jobs, wealth and an almost insatiable appetite for office space — along with grumbling about how expensive the city is getting. At the same time, the company is putting its stamp on the city by using it as a lab for its expanding array of unconventional experiments in bricks-and-mortar retailing."

ON THE WIRES

  • ABI Research Forecasts Nearly 6 Billion SIM Card Shipments in 2017 Despite Sharp Decline in NFC SIMs Worldwide - "ABI Research forecasts SIM Card shipments will reach nearly six billion in 2017 and maintain relatively stable growth until 2021 despite a sharp decline in NFC SIMs worldwide. The NFC SIM (known to the industry as Single Wire Protocol SIM) is losing its fight against the eSE (Embedded Secure Element) and HCE (Host Card Emulation), which continue to gain momentum due to ongoing interest from banks, financial institutions, and transportation authorities."

GLENBROOK PAYMENTS EDUCATION EVENTS

The next Glenbrook Payments Boot Camp is March 7-8, 2017 in San Jose, CA. On March 9, still in San Jose, will be our Digital Payments Insight Workshop. Following that, our next public Boot Camp and Insight Workshop combination will be in New York City in April followed by Atlanta in May. Check out our spring schedule here. We hope to see you there!

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!

February 13, 2017

Headline News from PaymentsNews.com - February 13, 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

  • Retailers Object to EU Plan for Stricter Online Security - Wall Street Journal - "Retailers are slamming a European Union proposal that would require customers to enter extra security information for online purchases above €10, saying the extra hassle could cut online sales by more than €11 billion a year. The European Banking Authority, an EU rule-making body based in London, said it aims to combat fraud by requiring customers to enter extra information, such as a PIN, but “will seriously consider” making changes. It plans to announce revisions by the end of this month."
  • Australian banks drop Apple Pay fee request to focus on iPhone NFC access - NFC World - "The group of Australian banks arguing for the right to collectively negotiate with Apple over the introduction of Apple Pay in the country have dropped their request to jointly arrange how to “pass-through” additional fees Apple imposes on its mobile payment service, and will now focus solely on gaining access to the NFC functionality within the iPhone."
  • Fintechs Spur Top Thai Bank to Create New Payments Platform - Bloomberg - "Kasikornbank Pcl, Thailand’s largest bank by revenue, plans to introduce a new digital-payments platform by the end of 2017 to counter threats to fee income from rival transaction networks."
  • DNB spins off Vipps mobile payment service - Finextra - "More than 100 Norwegian banks are to take a stake in the Vipps P2P mobile payment app developed by DNB in a bid to block competition from rival Nordic platforms and the likes of Facebook, Google and Apple."

ON THE WIRES

  • Apriva and Parlevel Systems Unveil One-Stop-Shop Vending Solution - "Apriva, a leading provider of omnichannel payment solutions and secure mobile communications, and Parlevel Systems, an innovative leader for vending technology solutions, announced today the enhancement of Parlevel’s unique, one-stop-shop solution for vending operators through the support of campus cards. In this partnership with Apriva, Parlevel delivers a full range of versatile hardware, equipment financing, flexible payment processing, campus processing, and analytics tools—all powered by an easy-to-use vending management system (VMS) for the food and beverage industry."
  • Transpay Adds Global Payouts to Morocco - "Transpay, a B2B/B2P cross-border payments platform, today announced that its service offering had expanded to include direct-to-bank deposits in Morocco. Transpay clients are now able to send local currency payments to individuals' bank accounts in Moroccan dirham (MAD)."

GLENBROOK PAYMENTS EDUCATION EVENTS

The next Glenbrook Payments Boot Camp is March 7-8, 2017 in San Jose, CA. On March 9, still in San Jose, will be our Digital Payments Insight Workshop. Following that, our next public Boot Camp and Insight Workshop combination will be in New York City in April followed by Atlanta in May. Check out our spring schedule here. We hope to see you there!

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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