Payments News from Glenbrook Partners
Glenbrook   Book   Education   Views   Archives   Store   About         SUBSCRIBE:

December 09, 2016

Headline News from PaymentsNews.com - December 9, 2016

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

ON THE WEB

  • Mobile is eating the world - Benedict Evans - "As we pass 2.5bn smartphones on earth and head towards 5bn, and mobile moves from creation to deployment, the questions change. What's the state of the smartphone, machine learning and 'GAFA', and what can we build as we stand on the shoulders of giants?"
  • Reward Credit Cards: How Much Cash Can You Get? - Wall Street Journal - "Cash-back rewards cards are increasingly popular with shoppers, prompting financial institutions to develop programs that, in some cases, return as much as 10% of spending. But the recent explosion in cash-back cards has some industry executives worried the market is getting overheated. "
  • US Federal Reserve Releases First Distributed Ledger Research Paper - Coindesk - "“An important goal of this paper is to examine how this technology might be used in the area of payments, clearing, and settlement and to identify both the opportunities and challenges facing its practical implementation and possible long-term adoption.”"
  • 'Sovereign' Blockchains Will Change Monetary Policy, Bank Paper Argues - Coindesk - "“Once such a sovereign blockchain is created with a [central bank cryptocurrency], other financial instruments such as bonds, equities, derivatives and even land and car registries could migrate to the same sovereign blockchain. This would allow the central bank to conceivably see the creation of all commercial bank assets in an economy.”"
  • eMarketer Cuts Estimates for Ecommerce in India - eMarketer - "The downgrade largely reflects the Indian government’s recent efforts to crack down on illegally obtained or undeclared money, banning large denominations of the rupee. It is a significant change for the ecommerce sector because cash on delivery payments are a widely used method for digital transactions in India. In a market where the population is relatively “under-banked,” COD becomes the most effective way of buying online."
  • Year Ahead 2017: Machine Learning Reboots Cybersecurity - CIO Journal (WSJ) - "“You can’t know all of the threats. Traditional controls alone aren’t viable, when we are sending petabytes of data to different organizations on a daily basis,” Mr. Sherwood says. “Security in the future is going to be based on intelligence, the use of AI to assist the staff. There is no other way.”"

ON THE WIRES

  • ECCHO Exploring Possible Strategic Opportunities - "ECCHO has been instrumental in supporting the financial services industry's successful migration from paper checks to electronic check images. We believe that the U.S. payments system is on the threshold of another milestone transformation, due in part to the financial services industry's and Federal Reserve's efforts to develop faster payments and related technological advancements. ECCHO wants to ensure that it is best positioned to continue to support check image exchange and to facilitate the upcoming faster payments innovations. Key objectives for this strategic opportunity include enhancing ECCHO's functions currently provided to its members and the banking industry generally, including its rules, advocacy, educational and check resource functions," said David Walker, President and CEO of ECCHO."
  • Air Force Federal Credit Union Launches New SAF-T™ Account - "The SAF-T account is a non-traditional transactional checking account. It does not have checks and only PIN-based transactions can be done on the AFFCU Visa® Debit card. It's unique in that there are no monthly maintenance fees and it protects you from fees such as NSF, Courtesy Pay, Overdraft Protection, Dormant account and other fees. "
  • Emergent Payments Moves Into Nigeria - "Emergent Payments is offering merchants a completely local solution with a set of value-added services to simplify payments. These include support for the preferred payment channels – Verve bank card and Quickteller for instant P2P transfers to all Nigerian banks – as well as full tax compliance, remittance in major currencies and an extensive understanding of regulatory requirements."

GLENBROOK PAYMENTS EDUCATION EVENTS

Glenbrook's 2016 boot camps are done but there's more to look forward to. Our next Glenbrook payments education events are in San Jose, CA, New York, NY, and Atlanta, GA. See 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!

December 08, 2016

Headline News from PaymentsNews.com - December 8, 2016

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

ON THE WEB

  • Facebook just secured an e-money license in Ireland, paving the way for Messenger payments in Europe - TechCrunch - "Paving the way for friend-to-friend payments to come to Facebook Messenger in Europe (and after the functionality debuted in the U.S. all the way back in March last year), Facebook has quietly secured an e-money license from the Central Bank of Ireland."
  • DST leads $80M round in Brazil’s Nubank to take on the big boys in financial services - TechCrunch - "Currently Brazil has the largest credit card market in the region, with 100 million cards in circulation. But as Vélez describes it, the country’s five largest banks — which control some 95% of all consumer financial services in the country — are being impacted by the economy today, and they are pulling away from some services and trying to cut their costs, resulting in worse terms for their customers. This means that smaller offerings like Nubank’s, whose credit card is “free” — as long as you pay your balance on time (that is, no upfront or service charge as many others do in Brazil) — suddenly become more attractive to consumers."
  • Inside 'Spark': Circle's New Bitcoin-Powered Smart Contract Platform - Coindesk - "Called 'Spark', Circle's new tech isn't a blockchain or a new cryptocurrency. Rather, as explained by the company, it uses a combination of bitcoin, other blockchains and traditional settlement rails to further its mission of promoting a global, social payments platform."
  • Canadian bank replaces NFC SIM-based service with HCE - NFC World - "“This enhancement to our My Mobile Wallet service now makes use of HCE/cloud rather than the NFC SIM-based service,” Scotiabank said."
  • Faster Frappuccinos in China as Starbucks Joins WeChat Payments - Bloomberg - "WeChat lets users text friends, post selfies and pay a gas bill with a smartphone. From today, the blockbuster Chinese app, known as Weixin Pay in China, can also be used to buy a Java Chip Frappuccino."
  • Google evaluates FIDO authentication - SD Times - "“At Google, we prefer to make data-driven decisions based on statistical and empirical verification,” Google wrote in a post. “This is particularly true when the security and privacy of more than billion users are stake, so we applied this philosophy to verify the practical benefits of deploying FIDO-based Security Keys to our more than 50,000 employees.”"
  • Toward new possibilities in threat management - PWC - "An integrated threat-intelligence and information-sharing platform can be a great unknown for even the most cybersavvy of executives."

ON THE WIRES

  • With LevelUp, Chase Pay enables customers to order ahead and pay at thousands of quick-service restaurants - "Chase is collaborating with Boston-based tech company LevelUp to use its technology so Chase Pay users can order ahead and save time. Customers can pay when they order ahead or in person at LevelUp or Chase Pay branded scanners at the counter. In addition, customers will have access to special offers available through the app."
  • FIS Launches Network for High Potential Early Stage Fintechs - "FIS™ (NYSE: FIS), a global leader in financial services technology, today announced the launch of a network of early-stage fintech companies with direct applicability to the financial services ecosystem served by FIS. The FIS HiPo (short for “high potential”) Network is a collection of firms that have demonstrated substantial promise in the development of new tools and technologies that deliver purposeful innovation for our clients around the world."
  • First Data Launches Clover™ Mini and Clover™ Mobile in the U.K. - "First Data (NYSE: FDC), the global leader in commerce-enabling technology, today announced the expansion of its Clover platform with the official launch of Clover Mini and Clover Mobile in the U.K. The “all-in-one” business management solutions have enjoyed broad adoption in the U.S. since they were introduced last year. With Clover, business owners have the point-of-sale technology to handle the daily challenges of running a business."
  • Revel Launches Mobile Business Performance Monitoring App for its iPad POS - "Revel Systems, the world's leading iPad Point of Sale management solution for brick-and-mortar retail, food businesses and more, today announced the launch of Insights by Revel, an app designed to offer business owners and management vital insights and real-time data, promoting efficient business management and precise data reporting."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall 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!

December 07, 2016

Headline News from PaymentsNews.com - December 7, 2016

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

ON THE WEB

  • Square’s virtual payment cards now work with Apple Pay - recode - "Square CEO Jack Dorsey announced the new integration with Apple at Recode’s Code Commerce event in San Francisco on Tuesday. The move means that users can take money from their Square Cash account to buy things anywhere Apple Pay is accepted."
  • Circle Cuts Bitcoin Buying and Selling in Product Pivot - Coindesk - "Circle Internet Financial, once one of the best-funded early bitcoin startups, has announced it will no longer allow customers to buy and sell the digital currency. Confirmed today via an announcement in The Wall Street Journal and first revealed at last night in a customer update, Circle said it will now focus on using a soon-to-be-launched proprietary blockchain-based protocol called Spark."
  • Apple Pay targets US retail and transport expansion - NFC World - "Apple Pay is now accepted by 35% of US retailers, representing about 4m locations across the country, Apple VP Jennifer Bailey has revealed during the Re/code Code Commerce event in San Francisco."
  • India Panel Said to Recommend Tax Breaks for Digital Payments - Bloomberg - "The Niti Aayog has suggested an additional charge to be levied on cash transactions so that more individuals opt for electronic payments, two government officials said asking not to be identified citing rules. It has also recommended the government scrap rules that restrict online sale of certain types of medicines."
  • Android Pay Comes to Ireland - Google blog - "Starting today, Android Pay is available in Ireland, helping you pay simply and securely with your Android phone."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall 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!

December 06, 2016

Headline News from PaymentsNews.com - December 6, 2016

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, Retailers Take Swipes at Each Other Over Dodd-Frank Fees - Bloomberg - "Six years ago, when President Obama signed the Dodd-Frank Act into law, America’s retailers got a big reduction in the debit-card fees they pay banks. Now, with Donald J. Trump set to take office, they’re preparing for a lobbying fight to defend that legislative victory -- and the billions they’ve saved as a result."
  • Alipay expands partnerships to tap Chinese travelers to Europe - Reuters - "Alipay said Tuesday it has partnered with four more financial services providers in Europe, as it looks to tap into Chinese consumers traveling abroad, in a move that could help China's top online payments platform expand its global footprint nearly tenfold."
  • Flutterwave aims to unify Africa’s fragmented payment systems and empower small businesses - TechCrunch - "Moneywave isn’t a user-facing tech like Square or Venmo, but an API layer that can be integrated into your business platform, however modest it is. Payments of whatever type or currency — card, bank transfer, e-wallet — enter on one side and come out the other into the bucket of your choice."
  • Russian central bank hit by $31m hacks - Finextra - "Russia's central bank says that hackers stole more than two billion rubles (around $31 million) from correspondent accounts this year."

ON THE WIRES

  • Vantiv and PPRO Group Partner on International Alternative Payment Methods for U.S. Merchants to Expand Their Reach Overseas - "This new relationship means that Vantiv's customers will be able to offer non-card payment methods – including direct debit, bank transfers, cash-based e-payments, and e-wallets – to international consumers through a single integration and customer service experience for both domestic and international payments processing."
  • Mastercard and Wells Fargo Make Sending and Receiving Money Faster, Easier, and More Secure - "Mastercard (NYSE:MA) and Wells Fargo & Co. (NYSE:WFC) announced today that Mastercard SendTM is now speeding payments for Wells Fargo Treasury Management and Wells Fargo Merchant Services customers. Mastercard Send™ is a payments service that sends funds quickly and securely to consumers domestically."
  • American Express® to Enhance Fraud-Prevention and Security Capabilities With Acquisition of InAuth - "As an extension of the company’s multilayered strategy for fighting fraud, American Express (NYSE:AXP) today announced it has acquired InAuth, Inc., a leading provider of mobile device authentication and intelligence solutions. InAuth’s technology is used by some of the largest financial institutions, banks, payment networks and merchants to reduce risk and help identify potential fraud utilizing its mobile-first device authentication capabilities."
  • Mint Introduces Bill Pay, Helping Millions to Never Miss a Bill - "Mint, from Intuit Inc. (Nasdaq: INTU), is adding bill tracking and payment to its free personal finance app to help millions of Americans effortlessly stay on top of bills. New intelligent features send automated reminders, update payment status, and suggest bills to sync based on prior transaction history, with no additional set up needed for existing Mint users. The tools aim to take the work out of bill management by doing what Mint does best: seamlessly integrating data from multiple sources into an actionable picture."
  • Information Security Forum Forecasts 2017 Global Security Threat Outlook - ""The pace and scale of information security threats continues to accelerate, endangering the integrity and reputation of trusted organizations. In 2017, we will see increased sophistication in the threat landscape with threats being tailored to their target's weak spots or threats mutating to take account of defenses that have been put in place," said Steve Durbin, Managing Director of the ISF. "Cyberspace is the land of opportunity for hacktivists, terrorists, and criminals motivated to wreak havoc, commit fraud, steal information, or take down corporations and governments. The solution is to prepare for the unknown with an informed threat outlook. Better preparation will provide organizations of all sizes with the flexibility to withstand unexpected, high impact security events.""

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall 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!

December 05, 2016

Headline News from PaymentsNews.com - December 5, 2016

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 Fed Leaves Durbin Cap Unchanged Despite Ongoing Drop in Issuers’ Debit Card Costs - Digital Transactions - "Issuers subject to the Durbin Amendment’s pricing controls on debit card transactions experienced an overall average cost of 4.2 cents to authorize, clear, and settle these transactions in 2015, excluding fraud costs. That is half of the 9.4 cents the Fed calculated in 2011. The average was 4.6 cents in 2013."
  • Amazon launches a beta of Go, a cashier-free, app-based food shopping experience - TechCrunch - "Customers use the Go app to enter the store, and once inside, some combination of sensors, computer vision and deep learning keep track of what’s taken off and returned to shelves inside a virtual cart. Once finished, the shopper just walks out and the company charges their Amazon account, along with a receipt."
  • Guessing Credit Card Security Details - Schneier on Security - "Researchers have found that they can guess various credit-card-number security details by spreading their guesses around multiple websites so as not to trigger any alarms."
  • Viber gets in-app mobile banking system - Mobile Commerce Daily - "“This is the only messaging platform that, through an API, can be directly integrated with banks’ existing digital banking channels.”"
  • Cashless Economy Still a Fantasy for India - Bloomberg - "Problem is, while e-commerce is booming, India remains one of the most cash-dependent countries in the world. Just over half of the nation’s adults have bank accounts, a precursor to using digital payments. Roughly 98 percent of all transactions are in cash, with 11 percent of consumers using a debit card in 2015, while most retailers don’t accept cards. "
  • Santander invests in B2B supply chain platform Tradeshift - Finextra - "Headquartered in San Francisco, Tradeshift operates a B2B e-commerce platform, connecting 800,000 companies across 190 countries. The company boasted a 250 percent growth rate in 2015 for its procure-to-pay capabilities, faster payments services and predictable cash flow services. "
  • Artificial intelligence and the evolution of the fractal economy - TechCrunch blog - "Financial systems are larger than the sum of their parts. The underlying rules that govern them might seem simple, but what surfaces is dynamic, chaotic and somehow self-organizing. And the blood that flows through this fractal heartbeat is data."

ON THE WIRES

  • Visa Checkout and Papa John’s Team Up to Bring Fans Free Pizza - "Continuing its quest to provide the best fan experience, Visa, an NFL Sponsor for more than 20 years, announced the availability of Visa Checkout with Papa John’s, the Official Pizza Sponsor of the NFL. Pizza and football fans can now spend more time building their favorite pizza and watching their team dominate on the field, and less time filling out payment and delivery information. For a limited time, Visa Checkout and Papa John’s are ensuring fans are well-fed by offering them a new deal: order any Papa John’s pizza on PapaJohns.com and pay using Visa Checkout, and get a free large 1-topping pizza with your next purchase."
  • By adding giropay to its International payment method portfolio, Limonetik now offers Merchant access to 35 m. of German Consumers - ""With e-commerce globalisation, giropay is constantly looking at developing its network of International payment partners, especially in France." giropay has chosen Limonetik because of its simple implementation and its wide network of affiliated e-merchants interested in accessing the German e-commerce market. "Limonetik allows merchants to easily add giropay to their website's payment page. With Limonetik, we accelerate the availability of giropay in Europe", adds Joerg Schwitalla."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall 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!

December 02, 2016

Headline News from PaymentsNews.com - December 2, 2016

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

ON THE WEB

  • Regulator Will Start Issuing Bank Charters for Fintech Firms - Wall Street Journal - "Financial-technology firms will soon have the chance to apply for new banking charters, under a plan from a top U.S. regulator designed to let thousands of upstarts grow nationally under federal oversight."
  • CIO Voices: Capital One’s Rob Alexander on How to Win in Banking - CIO Journal (WSJ) - "For Rob Alexander, CIO of Capital One Financial Corp., there’s little division between a bank and a technology company. “Technology is reshaping this business,” he says. “The winners will integrate banking into customers’ lives.”"
  • Why in-store mobile payments are still struggling - Mobile Commerce Daily - "This Black Friday, one of the trends that was noted by researchers from Cayan was the ratio of purchases made from regular card payments to purchases made with mobile payments. What they found was the mobile payments are sorely lacking in the physical retail world, making up less than 10 percent of all sales, with an average of .6 percent per state. That is more than last year but nowhere near the growth that was expected."
  • YayPay wants to help big companies deal with accounts receivable - TechCrunch - "YayPay is focusing on an interesting yet underserved niche — collecting payments from your customers. The startup is launching the second version of its platform today and now focuses on big companies with accounts receivable teams."
  • Apple Pay launches in Spain - NFC World - "Apple Pay has been officially launched in Spain, with Apple developing partnerships with Banco Santander, payment giants American Express and Mastercard, retailer Carrefour and prepaid meal payment service Ticket Restaurant."

ON THE WIRES

  • Visa to Acquire CardinalCommerce to Secure and Accelerate Digital Commerce - "Visa (NYSE:V) today announced an agreement to acquire CardinalCommerce, an industry leader in e-commerce payment authentication. The acquisition will enable more secure, seamless payments, whether made through a browser, mobile app, or connected device, and will help Visa’s clients and merchant partners accelerate digital commerce."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall 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!

December 01, 2016

Headline News from PaymentsNews.com - December 1, 2016

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 SEPA Instant Credit Transfer Scheme Rulebook is Published! - European Payments Council - "Today is a major milestone for European payments: the EPC publishes the first rulebook of the SEPA Instant Credit Transfer (SCT Inst) scheme. It will allow the transfer of initially up to 15,000 euro per single transaction in less than ten seconds, any time and any day, and in an international area that will progressively span over 34 European countries."
  • PayPal Delivers Business Services On-the-Go - PayPal blog - "To extend PayPal’s merchant services to millions of small businesses who need easy access to their account on the go, today we’re announcing availability of the new PayPal Business app, offering businesses an easy way to manage their PayPal account activity wherever business takes them."
  • American Express launches NFC mobile payments in Canada - NFC World - "American Express cardholders across Canada can now make NFC mobile payments using Amex Pay, a new feature added to the Amex App. The service is available for customers with eligible consumer, small business and corporate cards with compatible Android devices and the latest version of the mobile app."
  • As Web Sales Spike, Retailers Scramble to Ship From Stores - Wall Street Journal - "Two decades after Amazon.com Inc. was founded, traditional retailers are still struggling to manage hundreds of brick-and-mortar stores, while trying to maximize online sales. "

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall 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!