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February 23, 2017

Headline News from PaymentsNews.com - February 23, 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

  • Silicon Valley Tried to Upend Banks. Now It Works With Them. - New York Times Dealbook (Paywall) - "The venture capitalists who have invested billions of dollars in this wave of new financial technology — think Venmo and Bitcoin — have been left waiting for a breakout star that actually looks like a threat to even a part of the big banks’ business."
  • Square Tops Sales Estimates on Growth of Bigger Merchants - Bloomberg - "Square Inc., the electronic-payments company run by Twitter Inc. Chief Executive Officer Jack Dorsey, topped sales estimates for the fourth quarter, bolstered by larger merchants that are contributing an increasing share of Square’s payments volume. The shares climbed as much as 9 percent in extended trading."
  • Despite rising fraud, 80pc of consumers believe their info is secure: report - Mobile Commerce Daily - "A new report from ACI Worldwide illuminates a few of the drawbacks of an increasingly connected world, including a focus on the U.S., where only 54 percent of consumers trust third-party firms with personal and financial data."
  • Banking Industry Addresses Diversity, Adding Women to Boards - New York Times Dealbook (Paywall) - "Banking and capital markets, often viewed as dominated by men, achieved high scores in a newly released survey measuring the diversity in their director ranks. In 2016, women made up 26 percent of the boards in the banking and capital markets industry, which tied with the retail industry, according to a survey conducted by PricewaterhouseCoopers. The average rate of women on boards of companies in the Standard & Poor’s 500-stock index was 21 percent."
  • Messaging app Viber adds e-commerce button to sell you items inspired by your chats - TechCrunch - "Messaging app Viber is today announcing a new feature that taps into the bigger trend of messaging apps becoming multi-functional platforms, and also its ownership by e-commerce company Rakuten. Viber will start to present users with items for sale, inspired by your current chat, when you press a small shopping bag icon at the bottom of the screen and search for items. "
  • Airbnb finalizes deal to buy social payments startup Tilt - TechCrunch - "Airbnb is obtaining the Tilt assets and will keep the app operational, at least for now. But some sources are characterizing this as more of an acqui-hire, because Airbnb is spending most of the money on retaining the team."
  • MYOB acquires Paycorp in payments processing push - Finanical Review - "Accounting software company MYOB is pushing further into payment processing solutions, which it sees as a major growth opportunity for the business, thanks to the $48 million acquisition of Paycorp. The Paycorp purchase follows the company's launch of its PayDirect Mobile and PayDirect Online solutions in 2014 and 2016 respectively."
  • Faster Than Lightning? 'Sprite' Paper Envisions New Bitcoin Payments - Coindesk - "Announced in early 2016, the Lightning Network, has been heralded as a promising solution to bitcoin's scaling challenges – one that, over the past year, has been inching closer to launch. However, a new paper has laid out the framework for another payment system that researchers claim would be even faster."
  • Frank Abagnale, world-famous con-man, explains why technology won’t stop breaches - Ars Technica - "When credit card data is stolen, Abagnale explained, criminals "have to get rid of it right away"—because credit cards can be replaced and fraud stopped quickly. "But if it is someone's name, Social Security Number, and date of birth—they can't change [those things]. So the longer I keep the data, the more valuable it becomes when I go to sell it." Abagnale noted that some of the personal identity data stolen from the breach at TJ Maxx a decade ago is just starting to surface on the black market, for instance."

ON THE WIRES

  • Mastercard Launches Digital Vendor Directory to Assist Customers with Their Tokenization and Digital Wallet Development Efforts - "The Digital Vendor Directory was developed to help Mastercard customers identify vendors they may engage to more easily and quickly tokenize and digitize card portfolios and deploy their own Masterpass-enabled digital wallets, using the service provider of their choice. The directory lists both global and regional vendors and provides information about each vendor’s digital offering and geographical presence. In addition, each vendor is assigned a level of standard, gold or platinum, reflecting the vendor’s readiness level in integrating with Masterpass and with the Mastercard Digital Enablement Service (MDES). "
  • US Payments Forum Elects New Steering Committee to Provide Cross-industry Leadership and Guidance for US Payments Industry - "The U.S. Payments Forum and its leadership are making significant impacts in advancing the progress of payments technologies that protect the security of, and enhance opportunities for, payment transactions within the U.S. To propel the organization and its mission forward, the U.S. Payments Forum announced today its 2017-2018 Steering Committee and officers."
  • IDT Introduces the BOSS Revolution Money App - "IDT Corporation (NYSE: IDT), a global provider of communications and payment services, today announced the introduction of BOSS Revolution Money. The new app lets users send money transfers, mobile airtime and electronic gift cards to family and friends easily and securely. "

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 22, 2017

Headline News from PaymentsNews.com - February 22, 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

  • Swift Reveals Future Global Payment Tech – Blockchain Not Included - Coindesk - "After months of testing, Swift, the interbank payments platform that connects 11,000 global banks, has formally launched the system it believes will be the future of its cross-border payments services. And notably absent was any integration with blockchain or distributed ledger technology."
  • Mahindra Comviva launches payPLUS Aadhaar Pay for Rural India - Data quest - "Mahindra Comviva, the global provider of mobility solutions, announced the launch of payPLUS Aadhaar Pay, a merchant payment acceptance solution that leverages India Stack for merchant payments. payPLUS Aadhaar Pay simplifies digital payments by using Aadhaar number and linked biometric credentials to facilitate merchant on-boarding and payments. Given the government’s focus on digital payments, payPLUS Aadhaar Pay provides a merchant acceptance solution designed for rural India taking into account the specific challenges faced by consumers and merchants in such demographic segments."
  • Big Banks Declare War on Venmo - Bloomberg - "Nineteen banks, including Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo, are teaming up to start Zelle, a web site and app that will let users send and request money much like Venmo does. Bank of America says it is the first to incorporate all of Zelle's capabilities—including the ability to split bills between users—into its own mobile app, starting today. A standalone Zelle payment app should be available to anyone with a debit card, regardless of where they bank, by the middle of the year."
  • World Bank commits $130 million for digital payments in Pakistan - Impact Alpha - "The World Bank is backing projects in Pakistan to build access to credit and digital payment infrastructure for households and small businesses. The move is part of the government’s 2015 National Financial Inclusion Strategy."
  • Starling tests Google Home payments - Finextra - "UK challenger bank Starling has been experimenting with Google Home, integrating its API with the smart speaker to enable users to carry out balance queries and payments through voice commands."
  • News stories on retailing
  • Amazon plans to sell beer and wine at its new high-tech convenience store - recode - "Dubbed Amazon Go, the store concept allows shoppers to grab prepared food and drinks off of shelves and automatically be billed without stopping to pay on the way out. Amazon accomplishes this feat by making shoppers scan an app on the way in, and then uses a mix of sensors, cameras and computer vision to track the items that each customer takes. When the computers can’t figure it out, humans step in."
  • Nordstrom’s big, beautiful stores are losing ground - Seattle Times - "And Nordstrom, like other retailers, is being buffeted by a sea change in consumer spending habits. It’s not just that purchases are increasingly shifting online. It’s also that mall traffic is reportedly declining, shoppers are more apt to flock to discounters such as T.J. Maxx, and consumers are looking to spend their money on experiences rather than things."
  • Not All Big Box Stores Are Dead: Wal-Mart, Home Depot Buck Shopping Slump - Wall Street Journal - "Wal-Mart Stores Inc. and Home Depot Inc. on Tuesday showed they can still find ways to entice shoppers to their physical stores, despite a continuing consumer shift toward online buying. Both big box retailers reported strong sales over the holiday season, unlike other brick-and-mortar competitors such as Target Corp. and Macy’s Inc., showing that some retailers are managing to capitalize on a strengthening economy."
  • Kroger CIO Takes Tech to the Grocery Aisles - Wall Street Journal CIO Journal blog - "Kroger Co., whose 2,778 stores make it the largest supermarket chain in the U.S., has deployed technology in stores to blend the in-person and online shopping experience. The company faces growing threats from rivals such as Amazon.com Inc. and Wal-Mart Stores Inc., which are boosting efforts to sell groceries in multiple channels. "

ON THE WIRES

  • Bank Card Default Rate Hits 42-Month High In January 2017 According To S&P/Experian Consumer Credit Default Indices - "Data through January 2017, released today by S&P Dow Jones Indices and Experian for the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, shows the composite rate up three basis points from the previous month at 0.92% in January. The bank card default rate recorded a 3.21% default rate, up 26 basis points from December. Auto loan defaults came in at 1.06%, up three basis points from the previous month. The first mortgage default rate was 0.72%, up one basis point from December."
  • ProfitStars Introduces Gladiator Incident Alert for Complex Risk Monitoring and Management - "ProfitStars developed Gladiator Incident Alert as a scalable means to identify deep-level threats that may go unseen through traditional protection mechanisms such as firewall prevention and endpoint security. The solution, leveraging "sandbox" technology, obtains detailed information about malware behavior and alerts the financial institution of suspicious activity with detailed warnings that enable quick assessment and response."
  • Introducing Paymetric BillPay for Managing Electronic Invoice Presentment and Payments in the Cloud - "Paymetric, Inc., a global leader of integrated, secure electronic payment acceptance solutions for the enterprise announced today the release of Paymetric BillPay, a new solution that manages electronic invoice presentment and payments from the cloud for businesses."
  • GSMA Urges Policymakers to Advance the Digital Economy in New Report - "Digital and mobile technology is transforming the everyday life of billions of people around the world. As an example, until recently, the cash-based system for paying school registration fees in Côte d’Ivoire led to multiple problems, including time wasted by parents standing in long queues and the risk of robbery, which threatened the safety of parents and children and reduced Ministry of National and Technical Education (MENET) revenue collection. In 2011, MENET began collaborating with mobile money providers to digitalise annual school registration fee payments for approximately 1.5 million secondary school students. In the 2014-2015 school year, more than 99 per cent of students paid their registration fees digitally, with 94 per cent of payments made via the country’s three mobile money providers."

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 21, 2017

Headline News from PaymentsNews.com - February 21, 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

  • Episode 48 – APIs, ACH, and Faster Money – Dwolla - Glenbrook’s Payments on Fire podcast - "Sometimes a change in direction is the way forward. Network aspirant Dwolla has recently pivoted its work toward the product and development teams inside financial institutions. Instead of being a system operator, Dwolla now offers a broad set of APIs designed for those FIs to take advantage of the ACH’s overnight and Same Day ACH services. Dwolla’s shift also comes as the company and the US anticipates the impact of new immediate funds transfer systems Zelle, The Clearing House, and likely others."
  • EBA to relax controversial PSD2 authentication rules - Finextra - "In a speech in London on the EU's revised Payments Systems Directive (PSD2), which is set to come into force in January 2018, EBA chairman Andrea Enria said that the proposed standards would be modified to raise the threshold to EUR30 for remote consumer transactions, although there would be no exemption for corporate payments. Firms which use 'transaction risk analysis' to keep a lid on fraud will also be offered a get-out clause, as will payments at unattended terminals, such as parking meters or transport tickets. The use of transaction risk techniques will be monitored over an 18-month period to ensure that safeguards are working to reduce fraud rates. "
  • NPCI, Mastercard and Visa unveil standardised QR code mobile payments for India - NFC World - "Indian consumers can now make QR code-based mobile payments using BharatQR, a “low cost, interoperable mobile acceptance solution” backed by the Indian government and developed by Mastercard, Visa and National Payments Corporation of India (NPCI). The service is supported by American Express and 14 national banks."
  • Ant Financial to Invest $200 Million in South Korea’s Kakao Pay - Wall Street Journal - "Ant Financial Group, which is seeking to challenge global payment powerhouses Visa Inc. and MasterCard Inc., will invest $200 million in Kakao’s payments unit, with the two expected to form Kakao Pay Corp. as a subsidiary of Kakao by early April. Already this year Alibaba has made deals with U.S.-based money-transfer company MoneyGram International Inc. and the Philippines’ Globe Telecom, adding to existing arrangements in North America, Europe and across Asia."
  • Visa and IBM Watson commit to putting payments inside cars and wearable devices - Venture Beat - "“We share a vision of commerce-based IoT where any device, from a watch, ring, an appliance, or car, can be used to make a purchase. Our goal is to enable commerce on any connected device anywhere,” said IBM Watson general manager Harriet Green during a press conference."
  • Facebook Messenger Now Lets You Send Money With Transferwise - Bloomberg - "International money transfer service TransferWise Ltd. has announced an integration with Facebook Inc.’s Messenger that will let people set up foreign exchange transactions over the chat service. London-based TransferWise launched the technology as a bot -- a piece of automation software that understands natural language -- baked within Messenger. The bot, which is free to use and doesn’t affect prices or rates offered, will talk users through the process of arranging an international money transfer with TransferWise."
  • Apple buys Israel’s facial recognition firm RealFace – report - Times of Israel - "Apple Inc. has acquired Israel’s Realface, a cybertechnology startup whose facial recognition technology can be used to authenticate users. This is Apple’s fourth acquisition in Israel, the financial website Calcalist reported Sunday, and the deal is estimated to be worth a couple of million of dollars."
  • Russian mobile network MTS launches first phase of Money Wallet payments, transfer and loyalty service - NFC World - "Russian mobile network operator MTS has launched MTS Money Wallet, an online payments and money transfer service that incorporates loyalty points, offers and discounts, and is to be expanded to transport and in-store payments via NFC, SMS and USSD technologies later this year."
  • Swift is Recruiting Banks for Blockchain Tests - Coindesk - "According to Swift, recruits will include banks with strong liquidity practices for its proof of concept (PoC), which is aimed at replacing the antiquated nostro and vostro account system of settling cross border payments. The theory is that, by eliminating the dormant foreign exchange reserves held on the books of other banks, participants in the PoC will see a higher rate of return to shareholders since they are able to put the nostro/vostro capital into interest-earning assets."
  • Ingenico Readies Its POS App Marketplace for U.S. Merchants And Acquirers - Digital Transactions News - "The app store, dubbed the Marketplace, works with France-based Ingenico’s Telium line, which includes the Telium Tetra operating system, countertop, mobile and multilane POS terminals, access to more than 2,500 payment applications, and a device-management service. It launched in 2014, and has been available in some international markets. Its U.S. entry was delayed by the migration to EMV acceptance. With that under way, the time is right to bring Telium to the United States, Ben Wagner, director of product solutions for Ingenico Group North America, tells Digital Transactions News."
  • Walgreens integrates rewards program into Android Pay - Mobile Commerce Daily - "“Integrating our Balance Rewards loyalty program with Android Pay on all of the Equinox checkout terminals in our stores nationwide is another example of how we are always looking to enhance our customers’ in-store experience,” said Abhi Dhar, chief digital officer of Walgreens Boots Alliance & CIO at Walgreens. “It was evident just last month during the holiday shopping season that many of our Balance Rewards members enjoy the benefits of linking our loyalty program with mobile payments."
  • Facebook on course to be the WeChat of the West, says Gartner - TechCrunch - "It’s the beginning of the end for smartphone apps as we have known and tapped on them, reckons Gartner. The analyst is calling the start of a “post-apps” era, based on changes in consumer interactions that appear driven, in large part, by the rise of dominant messaging platforms designed to consume more and more of mobile users’ time and attention. It figures messaging apps will become more popular than social media apps within the next two years."

ON THE WIRES

  • Gulf Oil Announces New Gulf Pay Mobile App - "Gulf Oil today announced the launch of a new mobile payment application, Gulf Pay. The new offering, powered by P97's PetroZone® mobile commerce platform, will enable Gulf customers to navigate to the nearest Gulf gas station, pay for fuel at the pump, and purchase products inside the convenience store utilizing fast, simple, and secure mobile payment technology."
  • Radial and Klarna Partner to Integrate a Seamless Financing Option at Checkout, Driving Ease for Customers and Order Value for Retailers - "Klarna, one of Europe's leading payments providers, and Radial, the leader in omnichannel commerce technology and operations, today announced a new partnership to further expand Radial's payment options. The integration of Klarna with Radial's Payment platform enables clients and prospects to offer a financing option at checkout to give customers more choice and could give retailers a 58 percent higher order value."
  • Shopgate Joins Salesforce Partner Program to Drive Customer Success with Salesforce Commerce Cloud - "Shopgate today announced that it has joined the Salesforce Partner Program in support of Salesforce Commerce Cloud, the fastest path to unified commerce. Commerce Cloud enables brands to provide personalized experiences for shoppers that span web, mobile, social and in-store. And now, as part of the world’s #1 CRM platform – Salesforce – brands can deliver completely unified experiences for customers that extend beyond commerce to include marketing, customer service and more."

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 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!