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September 28, 2016

Headline News from PaymentsNews.com - September 28, 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

  • 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!

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!

September 27, 2016

Headline News from PaymentsNews.com - September 27, 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

  • IPFA drafts rulebook for cross-border instant payments - Finextra - "The International Payments Framework Association (IPFA) announces the first global scheme to transact real time payments as cross-border and cross-currency credit transfers."
  • 8 R3 Banks Test Intel Blockchain Platform - Coindesk - "A group of eight R3 member-banks have successfully tested a blockchain prototype that simulated the exchange of US Treasury bonds. Though a familiar use case for the tech, the test is notable given that it used technology developed by Intel and unveiled earlier this year. Called 'Sawtooth Lake', the platform offers a compelling take on how secure hardware could play a role in distributed ledger architecture."

ON THE WIRES

  • ACI Worldwide and VocaLink Join Forces to Speed up Adoption of Immediate Payments Around the World - "ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, and VocaLink, a global payments systems company, today announced a partnership to offer a complete end-to-end immediate payments solution to launch a domestic or regional immediate payments network."
  • Making Open & Instant Payments a Reality Worldwide: FIS Successes Cross Borders - "FIS’ Open Payment Framework (OPF) and the applications derived from this state-of-the-art technology are built to enable customer-facing organizations to offer more insight, lower costs and enhanced flexibility to better manage consumer adoption. OPF already has been implemented this year by financial institutions in Hong Kong, India and Canada to facilitate cross-border, ACH and wire transfers, and to provide customers with a single view on all their payments."
  • Fiserv Partners With FCTI to Drive ATM Terminals for World’s Largest Convenience Retailer’s U.S. Stores - "Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, has partnered with FCTI Inc., (FCTI), a nationwide ATM network company, to provide transaction processing for nearly 8,000 ATM terminals at franchise- and corporate-owned 7-Eleven stores across the United States."
  • Visa and Oracle Introduce New Tools to Help Improve Digital Ad Performance - "Leveraging digital advertising and cross-device connection data from Oracle Data Cloud with aggregated purchase data from Visa Advertising Solutions, merchants can measure consumer response to advertising campaigns run on mobile, display, video and social channels, and use the insights gained to optimize their efforts."

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!

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!

September 26, 2016

Headline News from PaymentsNews.com - September 26, 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

ON THE WIRES

  • Faster Processing and Settlement of ACH Credit Transactions begins Today, Reaching all U.S. Bank Accounts - "The Electronic Payments Association®, the trustee and rule maker of the ACH Network, announced the launch of Phase 1 of Same Day ACH. Same Day ACH is a new faster payments option that reaches all bank accounts and will enable businesses and consumers to send and receive payments and payment-related information on the same day through the ACH Network."
  • Major Banks Launch Global Payments Steering Group - "Ripple, the global provider of financial settlement solutions, today announced that a number of global banks are joining forces to establish the first interbank group for global payments based on distributed financial technology. Bank of America Merrill Lynch, Santander, UniCredit, Standard Chartered, Westpac Banking Corporation, and Royal Bank of Canada are the founding members of the organization, known as the Global Payments Steering Group (GPSG)."

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!

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!

September 23, 2016

Headline News from PaymentsNews.com - September 23, 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

  • Payments Data with Russ Jones - Glenbrook’s Payments on Fire Podcast - "Take a dip into the payment data pool in this podcast with Glenbrook’s Russ Jones. Russ discusses artificial intelligence, privacy, and the spread of Bluetooth beacons. For a deeper dive into the topic, join Russ at the Payments Data Insight Workshop on October 13 in Palo Alto because data’s influence in payments continues to expand."
  • Nets Starts Trading as IPO Values Payment Firm at $4.5 Billion - Bloomberg - "Nets Holding A/S, a Nordic payments firm being sold by equity funds Advent International Corporation and Bain Capital Private Equity, as well as Danish pension fund ATP, started trading in Copenhagen after an offer period to buy shares ended early. Investors paid 150 kroner a share to own a chunk of the company, according to a statement to the stock exchange in the Danish capital on Friday. That values Nets at 30 billion kroner ($4.5 billion), with 52 percent of the firm in free float, not including a so-called over-allotment."
  • Facebook Messenger adds group chat Polls and AI payment suggestions - Tech Crunch - "Facebook first launched friend-to-friend payments in March 2015, and just opened up payments to chatbots. But now you won’t have to beg and nag people as directly to settle their debts. Facebook’s AI will swoop in. Facebook already has some know-how here since the head of Messenger David Marcus and its VP of Product Stan Chudnovsky both came from PayPal. Making payments a seamless part of the conversation experience could lure people away from siloed apps like Venmo, PayPal, and Square Cash which solely handle payments and not everyone has. Combining Messenger’s ubiquity with a simple payments feature could keep people running all their communication, words or dollars, through Facebook’s chat app. "
  • World's Largest Mining Company to Use Blockchain for Supply Chain - Coindesk - "BHP Billiton revealed at the second annual Global Blockchain Summit that it will use blockchain to record movements of wellbore rock and fluid samples and better secure the real-time data that is generated during delivery. According to BHP geophysicist R Tyler Smith, the new system will enable benefits for its internal efficiency while allowing it to work more effectively with partners."
  • IBM, China UnionPay Develop Blockchain Loyalty Points Exchange - Coindesk - "In a proof-of-concept revealed today, IBM and China UnionPay have developed a platform that allows customers to trade points earned through purchases and other incentivized behavior with one another. It's a concept that can be applied to the exchange of frequent flyer miles, mobile phone bills or gas cards."
  • Blockchain Makes Inroads in Shipping - Wall Street Journal - "Marine Transport International Ltd., a U.K.-based freight fowarder, has started using blockchain to create real-time digital ledgers of shipping data for use by port officials, cargo owners and others along global supply chains, the company said Thursday."
  • This Beautiful Copper Coin Could Transform How We Spend Money - Fast Company - "Scrip is a provocative solution to a world full of easy electronic payments. A concept by NewDealDesign (NDD)—a design firm known both for working on major products like Google's late Project Ara, Fitbit, and Lytro, as well as feasible sci-fi tech like swappable tattoos that live under your skin. It’s a digitally connected, mechanical brass coin that you load with money like a MetroCard. And as you go about your day, paying for things via wireless NFC connections (like Apple Pay), it offers braille-like tactile feedback so that you recognize how much you’re spending."

ON THE WIRES

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!

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!

September 22, 2016

Headline News from PaymentsNews.com - September 22, 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

  • U.S. House Bill Aims to Set Up ‘Sandbox’ for Fintech Innovation - Wall Street Journal - "The financial technology industry, from digital currencies to peer-to-peer online lending, has raised concerns that U.S. regulation isn’t keeping pace, potentially causing businesses to consider moving operations to the U.K. The sandbox program, kicked off in May, lets companies work alongside a regulator when testing a fintech product or service. "
  • Winklevoss Bitcoin Exchange Gemini to Launch Daily Auctions - Coindesk - "Gemini Trading, the bitcoin and ethereum exchange founded by Tyler and Cameron Winklevoss, is set to begin hosting daily bitcoin auctions."
  • Federal judge says Bitcoin is money in case connected to JP Morgan hack - Ars Technica - "A Manhattan-based federal judge ruled on Monday (PDF) that a man accused of running an illegal Bitcoin exchange website could not have two charges of running an unlicensed money transfer business dropped because Bitcoin is money."
  • Yahoo is expected to confirm a massive data breach, impacting hundreds of millions of users - recode - "Yahoo is poised to confirm a massive data breach of its service, according to several sources close to the situation, hacking that has exposed several hundred million user accounts. While sources were unspecific about the extent of the incursion, since there is the likelihood of government investigations and legal action related to the breach, they noted that it is widespread and serious."

ON THE WIRES

  • Walmart to process payments through ChaseNet - "Chase today announced that it has expanded its relationship with Walmart (NYSE: WMT) to process payments on ChaseNet, the bank's closed-loop network, at its 5,000+ Walmart and Sam’s Club locations in the U.S. and at Sam’s Club ecommerce."
  • Payza Launches Direct Credit Card Processing to European E-Commerce Merchants - "Payza, a global payment platform, has announced today that qualified online businesses and merchants in Europe are eligible for the No Monthly Fee Payza Business account to process Visa and MasterCard payments for rates starting at 2.9%. Approved Payza Business account holders will also be able to accept direct Payza e-wallet, Bitcoin and Interac Online (Canadian debit card network) payments at low cost, without any monthly, maintenance or account set-up fees."
  • NCR Launches Mobile Business Banking Application for Financial Institutions’ SMB Customers - "NCR Corporation (NYSE: NCR), a global leader in omni-channel solutions, today announced the launch of Business Banking Mobile, extending the SaaS-based platform to customers’ mobile devices. The application will allow community financial institutions (CFIs) to compete with larger financial institutions by providing their business banking customers with iOS and Android access to this secure and easy-to-use account management platform."
  • Accenture Implements State-of-the-Art Payments-Processing Platform with UniCredit as First Client - "Accenture (NYSE:ACN) today announced a multi-year contract with UniCredit Business Integrated Solutions, the global service company of UniCredit, to implement a state-of-the-art Payments-Platform-as-a-Service (PPaaS) solution. Accenture’s new PPaaS solution, which is built on DH Corporation’s (TSX:DH) (D+H) global payments services hub software, is a highly scalable, pay-per-use solution that will process SEPA and international payments, and will adapt to new regulations and industry updates, as well as provide flexibility for future expansion."
  • 2016 e-commerce fraud attacks on pace to surpass 2015 totals - "The question of whether we're in Kansas anymore is appropriate with the latest release of Experian® fraud attack data from across the United States. Eudora, Kan., is home to the highest e-commerce billing fraud ZIP Code™. Accounting for 5 percent of the total billing fraud so far in 2016, the town is among the top 25 riskiest ZIP™ codes, illustrating that fraud is not confined to larger cities."

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!

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!

September 21, 2016

Headline News from PaymentsNews.com - September 21, 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

  • Emerging markets urged to embrace digital finance - Financial Times (Paywall) - "Mobile wallets, online payments, pre-paid cards and digital savings accounts are all examples of low-cost financial services that McKinsey Global Institute estimates could add 6 per cent to emerging market gross domestic product by 2025, a boost equal to the entire African economy."
  • Why Vodacom, MTN failed at mobile money - Tech Central - "Excessive regulation, a business model that tried to do too much too soon and trust worries among consumers. These are the reasons Vodacom’s M-Pesa and MTN’s Mobile Money failed in South Africa, according to the CEO of fast-growing fintech player Hello Group."
  • 'Super Shoppers' Demand Specific Payment Options - Retail Touch Points - "Only 13% of the world’s consumers generate 62% of e-Commerce revenues, spending $372.5 billion from March 2015 to March 2016, according to a study from WorldPay. With such a small percentage of consumers accounting for such a large slice of online retail, merchants should certainly cater to these “Super-Shoppers” whenever possible."
  • Study shows Canadians’ growing enthusiasm for mobile payments - NFC World - "A quarter of Canadians aged 18-34 prefer paying with a mobile wallet over cash or card, compared to 18% of those aged 45-54, 10% aged 55-64 and 6% aged 65 and over. In the 18-34 bracket, 46% said they would be more likely to use a mobile wallet if it were available for their credit card, and 47% said they would use one if it were accessible on their current phone. "

ON THE WIRES

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!

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!

September 20, 2016

Headline News from PaymentsNews.com - September 20, 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

  • Swift Creates Payment Pattern Anomaly Alerts for Customers - Wall Street Journal - "Cross-border financial messaging giant Swift is rolling out an anomaly detector to help banks monitor for fraud, as it moves to address a rash of cyberbreaches at customer sites. The company said Tuesday it was developing customer alerts displaying a snapshot of a day’s activity and any unusual messaging patterns detected by Swift."
  • What to expect at the Wells Fargo hearing - Boston Globe - "Details have been leaking out for years but last week the company was hit with a wrist-slapping $185 million fine and an embarrassing report showing how strangely counterproductive the whole operation was. It never helped the company make money; it just helped employees meet misguided sales targets."
  • Stripe Heads for Asian Turf War - Bloomberg - "Stripe has finally marked its official arrival in Asia with the opening of a Singapore office. After expanding to two dozen countries across the globe, it makes sense for the San Francisco-based payments provider to pick Singapore as its launchpad for an assault on Southeast Asia. The city-state is already the latter's financial hub, and it plays host to numerous startups that are attempting to tackle e-commerce in neighboring countries."
  • 7 Financial Firms Test Blockchain for Data Management - Coindesk - "Credit Suisse, Citi and HSBC are among seven financial firms to participate in a data management trial announced today and conducted with support from blockchain firms Axoni and R3CEV."
  • Santander Vies to Become First Bank to Issue Cash on Blockchain - Coindesk - "Spanish banking giant Santander is working on a project that explores how it could digitize customer cash using the public ethereum blockchain."
  • Corporate Judgment Call: When to Disclose You’ve Been Hacked - Wall Street Journal - "Companies are getting hacked more frequently but aren’t disclosing the incidents in their regulatory filings, a trend that worries investors."

ON THE WIRES

  • Noventis to Deliver Faster, Cost-Effective Payments to SMBs - "PreCash Inc. officially became Noventis, Inc. today to serve new markets and deliver faster payments at a lower cost to a broad base of businesses. Fueled by record growth, an infusion of capital and growing market demand for more efficient payment delivery, Noventis will make faster, more cost-effective digital payments available to a wider number of financial services and Fintech partners that serve small to medium businesses (SMBs). Leveraging the same technology that is already in use by over 4,000 partners, Noventis is optimizing payment delivery by providing electronic access to an ever-growing network of businesses."
  • Frost Bank® Joins Early Warning® clearXchange® Network - "Early Warning, the industry leader in real-time payments, authentication and risk mitigation, today confirmed San Antonio-based Frost Bank has joined Early Warning’s clearXchange network. Through the network, Frost Bank is now able to offer person-to-person (P2P) payments directly through its online and mobile banking platforms."
  • Mastercard Teams Up with Stripe to Make Getting Paid Faster and Easier in Today’s Shareconomy - "Today, Mastercard and Stripe announced that Mastercard Send is speeding payments for U.S. sellers on Stripe marketplaces using the instant payouts feature from Stripe. Getting paid as a caregiver, dog walker or hairstylist just became a lot faster and more convenient. Mastercard Send is a first-of-its-kind service that enables people and businesses to send and receive funds quickly and securely."
  • ACI Announces New Cloud-Based Payment Connectivity to SWIFT - "ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, today announced a partnership with SWIFT for Alliance Lite2, the cloud-based connectivity to SWIFT. Available through ACI’s global payment processing solution, Money Transfer System (MTS), ACI is offering this new cloud-based connectivity to provide faster, cheaper access to SWIFT."

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!

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!