Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!
ON THE WEB
- Mastercard jockeys for mobile payments domination with new API platform - Mobile Commerce Daily - "The Mastercard Developers program allows the brand’s partners to access APIs across security, data and payments categories alongside supportive tools, such as software development kits and sample code for top coding languages. Mastercard’s open API rollout arrives on the heels of its competitor Visa’s open developer program launch this past summer, signaling that financial marketers must continue collaborating with other companies and making mobile-first technologies readily available in order to keep up with the rapidly evolving space."
- Wells Fargo Claws Back Millions From CEO After Scandal - Wall Street Journal - "CEO John Stumpf to forfeit $41 million in unvested equity awards, forgo salary during investigation; former retail banking head Carrie Tolstedt to forfeit $19 million in unvested equity awards."
- Tripping the Plastic Fantastic - Bloomberg Gadfly - "Buyout firms Advent and Bain Capital have made six times their money in as many years from their investment in Worldpay, a payments processing company. In just two years, they reaped as much as four times their investment in Nets, Worldpay's Nordic competitor, which went public last week."
- Square hopes to ease the EMV transition with faster transaction times - Tech Crunch - "It’s focused on cutting transaction times to alleviate customer impatience, and it now boasts a 4.2-second total time from when you put your card in the reader to when you’ve successfully checked out."
- ANDROID, IOS AND MARKET POWER – WHAT DOES MOBILE PLATFORM COMPETITION REALLY LOOK LIKE? - Disruptive Competition Project - " When the Commission announced the Statement of Objections (SO) it sent to Google, it held that the company has a market share of more than 90% in the market for licensable smart mobile operating systems. The word ‘licensable’ is key because it means that Apple’s iOS which powers all iPhones and iPads is outside the scope of the relevant market. So are iPhones really not competing with Android-powered smartphones?"
ON THE WIRES
- Mastercard Accelerates the Pace of Commerce Innovation with Launch of Mastercard Developers - "This single gateway enables Mastercard partners to access a diverse range of Application Programming Interfaces (APIs) across payments, data and security. The platform also includes a ‘New and Experimental’ API category that enables partners to test new technologies and applications. "
- Blockchain Adoption Moving Rapidly in Banking and Financial Markets: Some 65 Percent of Surveyed Banks Expect to be in Production in Three Years - "Commercial blockchain solutions are rapidly being adopted throughout banking and financial markets, dramatically faster than initially expected, finds two new IBM (NYSE: IBM) studies. Fifteen percent of banks and 14 percent of financial market institutions interviewed by IBM intend to implement full-scale, commercial blockchain solutions in 2017. Mass adoption isn't that far behind with roughly 65 percent of banks expecting to have blockchain solutions in production in the next three years."
- Samsung Pay Reaches One Year Anniversary in the United States - "Samsung Pay—the most widely accepted mobile payment system—celebrates its first anniversary in the U.S., building on the digital wallet’s record of success. In just one year, Samsung Pay has driven innovation, adding features like support for membership and gift cards and coupons, allowing users to slim down their wallets. Samsung Pay now supports over 500 banks and credit unions, representing over 80 percent of the debit and credit card market in the U.S. Samsung Pay also now offers new features including an in-app coupon service to search, store and redeem coupons, as well as a new cloud storage feature to restore membership, gift and Samsung Reward cards whenever they sign into a new device."
GLENBROOK PAYMENTS EDUCATION EVENTS
Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!
- Payments Boot Camp - Palo Alto - October 11-12
- Insight Workshop - Palo Alto - Payment Data - October 13
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
- We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Among other positions, we're looking for an East Coast engagement manger. Click here to learn more!
- Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews
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: firstname.lastname@example.org!