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February 08, 2016

Headline News from PaymentsNews.com - February 8, 2016

ON THE WEB

ON THE WIRES

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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 05, 2016

Headline News from PaymentsNews.com - February 5, 201

ON THE WEB

ON THE WIRES

  • WeChat Hands Out Lucky Money on New York's Times Square Billboards During Chinese New Year - "At certain times, pedestrians passing through the square will have an opportunity to "earn" some Lucky Money by shaking their handsets as long as they have their Bluetooth and their WeChat "shake" functions turned on. The money will go to the receivers' digital account in WeChat Wallet. Users can either withdraw or spend through WeChat Payment, a digital payment service provided by WeChat."

EVENTS

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 04, 2016

Headline News from PaymentsNews.com - February 4, 2016

ON THE WEB

  • A Way to Lock Lost Debit Cards, From a Big Bank - New York Times - "Once the card is locked, it cannot be used to make purchases or withdraw money from automatic teller machines until the user unlocks it."
  • Blockstream Welcomes New Investors - Adds $55 Million in Series A - Blockstream Blog - As our investor and board member Reid Hoffman wrote back in 2014, before many execs first wrote "blockchain" on their whiteboards, "Bitcoin is a transformative addition to Internet communication protocols that will create new networks of trust, fuel massive economic ecosystems, and create enduring long-term value."

ON THE WIRES

  • Visa Opens its Global Network with Launch of Visa Developer - “We are unbundling Visa’s full suite of products and services and giving developers open access to the underlying payment capabilities,” said Rajat Taneja, executive vice president of technology, Visa Inc. “We believe this will lead to the creation of entirely new commerce experiences with Visa technology integrated to enable greater security, scale and convenience when it comes time to pay. When you add the ability to distribute those new experiences across Visa’s global network, you can see why Visa Developer will become the preferred playground for developers everywhere.”
  • PayPal Reveals Vision for the Future of Money - “We are in a period of transformation – how people shop; how merchants sell; how people interact with the financial system; the very nature of money itself is changing,” said Dan Schulman, President and CEO of PayPal. “New Money is a celebration about the ways technology can help expand and improve financial participation and financial health for billions of people worldwide. We want to reimagine money -- enabling new ways for people to securely and affordably manage, move and spend their money.”
  • U.S. Bank is First to Offer MasterCard® Business Network for Small Business Owners - "U.S. Bank (NYSE: USB) is the first bank in the nation to offer its small business customers access to MasterCard’s Business Network in a fully customized, consolidated website that provides offers, advice and tools designed to help small businesses run efficiently and effectively."
  • Fifth Third Bank Launches Express Banking to Serve the Unbanked and Underbanked - "Fifth Third created Express Banking for people who typically don't have bank accounts, but who use banks and non-bank alternatives such as check cashing centers to cash checks, make payments and get cashier's checks. Express Banking provides a way for people to manage their money with no monthly service charge or balance requirement. The service does not allow overdrafts, which protects customers from spending money they don’t have."
  • Western Union and Viber to Provide Cross-Border Money Transfer Capabilities - “Our users are already using Viber to stay in touch with friends and families worldwide, so the ability to send money to loved ones through the app is a natural next step,” said Michael Shmilov, Chief Operating Officer, Viber. “Viber’s alliance with Western Union is our first step into this direction and it gives our users a new way to quickly and conveniently send money to friends and family.”
  • Fifth Third Bank Introduces Touch ID for its Mobile Banking App - “Our customers’ digital expectations continue to evolve – and many of those expectations are being set by using non-bank apps such as shopping and games," said Chad Borton, executive vice president and head of the Consumer Bank for Fifth Third Bank. "Fifth Third is continuing to evolve its digital experiences to do the same, creating fast and simple banking.”
  • Fit Pay Completes $3.1M Seed Funding Round - "We are pleased to support Fit Pay's vision for transforming wearables," explains Scott Marquardt, president, Giesecke & Devrient America, Inc. "The Fit Pay platform, in combination with G&D's capabilities in embedded secure operating systems, applications and credentials lifecycle management, brings a complete end-to-end portfolio to Fit Pay's prospective wearable device partners."

EVENTS

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 03, 2016

Headline News from PaymentsNews.com - February 3, 2016

ON THE WEB

ON THE WIRES

EVENTS

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 02, 2016

Headline News from PaymentsNews.com - February 2, 2016

ON THE WEB

  • A Year of Progress: Celebrating the Anniversary of Strategies for Improving the U.S Payment System - Faster Payments Blog - "Read our February 2016 Progress Report and hear more about the Federal Reserve’s vision for the future U.S. payment system in video interviews with Esther George, President and CEO of the Federal Reserve Bank of Kansas City and executive sponsor of the payments improvement initiative, and Jerome Powell, Federal Reserve Board Governor and co-chair of the initiative’s oversight committee."
  • Cutting Off Those Recurring Charges You Forgot About - New York Times - "Once Trim performs its analysis, you get a text message with a list of all your recurring charges. You reply with “Cancel X,” and then the company takes it from there, making the request on your behalf to the service provider."
  • CIO Explainer: What Is Blockchain? - Wall St. Journal - "Blockchain remains in the experimental phase inside many large firms and there are few tested use cases, experts and analysts caution. Here’s a look at how this emerging technology works..."
  • Blythe Masters and JPMorgan trial blockchain project - FT.com - "JPMorgan appears to be taking a lead in encouraging broader, industry-wide adoption of blockchain technology..."
  • Bank Tellers, With Access to Accounts, Pose a Rising Security Risk - New York Times - "Though much of the focus on bank fraud has been on sophisticated hackers, it is the more prosaic figure of the teller behind the window who should worry depositors, according to prosecutors, government officials and security experts."

ON THE WIRES

  • MasterCard Adds to Global Public Policy Team - "MasterCard today announced the appointment of Alexander N.M. Niejelow as a senior vice president of public policy, effective February 8, 2016."
  • BlueSnap Measures Checkout Abandonment To Help Retailers Avoid Lost eCommerce Sales - “People buy from Amazon because they have a simple, one-click checkout process. Every retailer needs to provide that same experience or risk losing out. That’s the inspiration behind the Checkout Conversion Calculator – to help merchants discover and zero in on the things they must do to maximize their checkout, payments and sales conversions,” says Ralph Dangelmaier, CEO of BlueSnap.

EVENTS

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 01, 2016

Headline News from PaymentsNews.com - February 1, 2016

ON THE WEB

ON THE WIRES

  • ExxonMobil Smart Cardholders Now Save 6 Cents Off Every Gallon, Every Day - "Starting today, every time drivers fill up using their ExxonMobil Smart Card, they will enjoy a savings of six cents for each gallon of fuel they buy at an Exxon- or Mobil-branded retail station with no minimum purchase and no maximum savings cap – one of the most rewarding offers on a branded fuel credit card."
  • Global Payments Platform Launches New E-Wallet Solution for the Gaming Industry - “Although all gaming sites generally have a means of moving money throughout their site, often the experience is clunky and inefficient for the user, and causes high fees for the provider due to the need to use multiple payment vendors,” said Gay Hamilton, Chief Operations Officer at MiFinity Payments. “MiFinity is the only company to offer a wallet solution specifically for the gaming industry. With MiFinity’s E-Wallet, there is only one source of service, enabling gaming operators to offer a seamless and flexible experience to their end users, while streamlining their own costs and processes.”
  • Is a Higher Credit Score the Secret to Happiness in 2016?“The tension Americans are feeling with their credit scores is actually very healthy because this singular metric can impact their ability to achieve and afford big financial goals. Your credit score impacts whether you can purchase a home or car, obtain a loan to go to school or start a business and qualify for better interest rates,” says personal finance expert and Chase Slate financial education partner Farnoosh Torabi.

EVENTS

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!

January 29, 2016

Headline News from PaymentsNews.com - January 29, 2016

ON THE WEB

  • PwC and Blockstream Announce Strategic Partnership - "For our clients, understanding new world applications of Bitcoin and blockchain technology, adapting it for myriad uses, and using it optimally are critical to improving financial security, efficiency and compliance," said Haskell S. Garfinkel, Partner, FinTech Co-Leader, PwC. "PwC is teaming with Blockstream to offer our joint knowledge and capabilities to clients – giving them one place to go, maximizing expertise, talent, and assets from both organizations."
  • Payment Processor to Stop Working With Daily Fantasy Sports Clients - New York Times - "Vantiv Entertainment Solutions, the processing company, told its daily fantasy clients, which include FanDuel and DraftKings, that it would “suspend all processing for payment transactions” related to daily fantasy sports in the United States and its territories on Feb. 29."
  • RTGS, and the story of batches instead of blocks - FT Alphaville - "Here begins a tale of how the Bank of England’s settlement system got broken without anyone really noticing…"
  • Facebook open to payments partnerships with Apple Pay, others - Apple Insider - "We'll partner with everyone who does payments," Zuckerberg said. "We look at the stuff that Apple is doing with Apple Pay, for example, as a really neat innovation in the space that takes a lot of friction out of transactions as well."

ON THE WIRES

  • Visa Launches Commerce Network to Drive Merchant Sales and Deliver New Cardholder Benefits - "Visa Commerce Network works by connecting transactions between two merchants. For example, a hotel can provide its customers with offers from local restaurants using Visa Commerce Network, and with cardholder consent, track engagement and even issue rewards. Qualifying purchases are recognized at the point of sale and rewards can be seamlessly applied to cardholder accounts – eliminating the need for coupons or redemption schemes."
  • MasterCard Incorporated Reports Fourth-Quarter and Full-Year 2015 Financial Results - “Despite a challenging economy, we were able to deliver solid results for the quarter and the full year in 2015,” said Ajay Banga, president and CEO, MasterCard. “Entering 2016, while uncertainty in the global economy persists, the fundamentals of our business and our approach remain unchanged. We continue to be laser focused on our strategy to lead payment innovation in an increasingly digital world with solutions such as MasterPass, while growing the use of electronic payments through our products, partnerships and increased acceptance at the point-of-sale.”
  • FTC Announces Significant Enhancements to IdentityTheft.gov - "For the first time, identity theft victims can now go online and get a free, personalized identity theft recovery plan as a result of significant enhancements to the Federal Trade Commission’s IdentityTheft.gov website."

EVENTS

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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