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Apple

Welcome to the News View for "Apple".

Here, on these archive pages, you'll find all of the articles on Payments News for Apple listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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August 27, 2015

Headline News from PaymentsNews.com - August 27, 2015

On the Web:

On the Wires:

  • Introducing the Square Appointments App - "The new Appointments app is available for iPhone –– even if you don’t process payments with Square. We want to empower you to do business anywhere, and our family of Square apps makes it easier to run your point of sale, check your sales reports, and book more business."
  • Consumers Believe Nontraditional Providers Will Drive Financial Industry Innovation, Says Research from Raddon Financial Group - “U.S. consumers continue to trust that banks and credit unions will provide them with the highest quality and most secure financial services available, and they believe that the emergence of nontraditional financial service providers has the potential to drive innovation in the industry,” said Bill Handel, vice president of research, Raddon Financial Group.
  • Consumers Rank Discounts and Savings on Fuel as Their #1 Preferred Reward - “This survey confirms what our merchant partners and over 5 million members have been telling us for the last three years,” said Brandon Logsdon, President and CEO of Dallas-based Excentus. “Today’s consumers clearly value the ability to earn rewards – like fuel savings – that have a meaningful and tangible impact on their household budget, making everyday life more affordable."

Glenbrook's 2015 Payments Education

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!

August 21, 2015

Headline News from PaymentsNews.com - August 21, 2015

On the Web:

  • Visa In $21bn Bid To Merge US, European Units - Sky News - "The American payments giant Visa has tabled a $21bn (£13.4bn) offer to acquire its European sister company in a deal that would crystallise huge windfalls for some of Britain's biggest banks."
  • Mobile Banking and Mobile Payment Practices of U.S. Financial Institutions: Results from 2014 Survey of FIs in Five Federal Reserve Districts - Federal Reserve Bank of Boston - "A new report from the Federal Reserve Bank of Boston's Payment Strategies team offers insights into the mobile banking practices and mobile payment plans of banks and credit unions in five Federal Reserve Districts: Atlanta, Boston, Dallas, Minneapolis, and Richmond. The report presents the consolidated findings from a joint survey that was conducted in the third quarter of 2014."
  • Credit Scores Are Rising, and Becoming More Visible - New York Times - "The national average FICO score is now 695 — the highest it has been in at least a decade, according to the latest analysis from Fair Isaac Corporation, the score’s creator. Nearly 20 percent of consumers now have scores above 800."
  • Apple Posts New iPhone Advert: “Apple Pay” - MacStories.net - "The new advert, "Apple Pay", naturally focuses on Apple Pay, demonstrating Apple's contactless payment method available on the iPhone 6 in the US and UK."
  • Forking hell - Economist - "The dispute is as ideological as it is technical. The Bitcoin community has a process to settle such controversies, but it is by design slow and produces decisions only when everybody is happy."

On the Wires:

  • Affirm Financing Now Available to Shopify Merchants - "Affirm, the financial technology company led by PayPal Co-Founder Max Levchin, today announced that Buy with Affirm, a payment option for consumers, is now available to merchants on Shopify, a leading cloud-based multichannel platform. The integration will provide Shopify’s U.S. merchants with the ability to offer shoppers installment financing at checkout."

Glenbrook's 2015 Payments Education

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!

August 18, 2015

Headline News from PaymentsNews.com - August 18, 2015

On the Web:

On the Wires:

  • Richmond Fed's Economic Quarterly Looks at Durbin Amendment Impact on Merchants - "Based on a survey conducted two years after the regulation went into effect in 2011, Richmond Fed economist Zhu Wang and his co-authors Scarlett Schwartz and Neil Mitchell investigate the impact of the regulation on the costs to merchants of accepting debit cards. They also examine merchant reactions to the regulation in terms of changing prices and debit card restrictions. The survey results suggest that the regulation has had limited and unequal impact on merchants' debit-acceptance costs."
  • Pay Anyone From Your Wrist - "The latest Square Cash release affords anyone the ability to quickly send a payment to friends, family, or anyone nearby conveniently from their Apple Watch. Beginning today, anyone can access the app on their Apple Watch by downloading the latest Square Cash app for iOS."
  • Visa and QIWI Announce the Mass Launch of Contactless Smartphone Payments - "QIWI and Visa Inc. have announced implementation of a new stage of their strategic partnership, which has resulted in integration of Visa payWave's contactless technology into Visa QIWI Wallet."
  • Star Wars Comes to Chase Disney Visa Credit Cards - "Marking the first Star Wars brand collaboration for a credit card for The Walt Disney Company, Chase Card Services and Disney, are putting The Force in Cardmembers’ wallets with the introduction of three exclusive Star Wars designs to the Disney Visa Credit Card family, accompanied by exciting, new and exclusive Star Wars perks for all Disney Visa Credit Cardmembers."
  • First Tech Federal Credit Union and MasterCard Announce First U.S. Biometric Payments Pilot - "The pilot will test the potential of delivering greater security and convenience to First Tech’s U.S. cardholders by verifying identity via facial photographs or fingerprint scans conducted on smartphones."
  • Capital Prepaid Offers Mobile Check Cashing to BlazePaysSM Visa® Prepaid Cardholders - "Our goal is to make the BlazePays Card the most convenient and economical payment tool for consumers," said Jay Kurian, President of Capital Prepaid. "With mobile check cashing, consumers can now load funds to a BlazePays Card regardless of where they reside in the U.S."

Glenbrook's 2015 Payments Education

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!

August 17, 2015

Headline News from PaymentsNews.com - August 17, 2015

On the Web:

  • MasterCard on Changes Coming in Payment Card Security - Wall St. Journal Risk and Compliance Journal - "Ajay Bhalla, president of enterprise security solutions at MasterCard Inc., talks about the introduction of chip-based cards to the U.S. and what’s on the horizon for payment-cards security."
  • The Bitcoin XT Fork - AVC.com (Fred Wilson) - "It will be fascinating to watch this play out. If you are used to big corporations or governmental institutions making decisions behind closed doors about how your financial systems work, then you might enjoy watching a new model of innovation and technology evolution unfold."
  • $2b fee sticking point as Apple wrangles with Australia's big four banks - Australian Financial Review - "Commonwealth Bank of Australia chief executive Ian Narev would not comment on the progress of negotiations with Apple, but said Apple's attempts to offer Apple Pay in Australia won't be as easy as it was in the US given Australian banks' record of innovation. "
  • ApplePay Grows in Popularity, Users Happy with Platform - TMG Blog - "Recent data from 451 Research concludes 45 percent of smartphone owners who plan to use mobile payment apps over the next three months will opt for Apple Pay."

On the Wires:

Glenbrook's 2015 Payments Education

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!

August 11, 2015

Headline News from PaymentsNews.com - August 11, 2015

On the Web:

On the Wires:

  • Rite Aid Stores Nationwide to Begin Accepting Mobile Payments August 15 - “Increasingly, consumers are actively seeking out and incorporating mobile technology into many facets of their life, including their shopping and purchasing decisions,” said Ken Martindale, CEO of Rite Aid stores and president of Rite Aid Corporation. “By accepting mobile payments, we’re able to offer Rite Aid customers an easy and convenient checkout process, which we know is important to them.
  • Nymi, TD and MasterCard Announce World's First Biometrically Authenticated Wearable Payment Using Your Heartbeat - "The Nymi Band is a secure and continuous wearable authenticator that identifies a user based on their unique heartbeat (or electrocardiogram) through proprietary Nymi technology called HeartID™. Nymi has developed an NFC-enabled prototype of the Nymi Band for these pilots, which is linked to a user's MasterCard."
  • Canadian Payments Association Launches Initiatives to Support Modernization of Canada's Payments System - "The Canadian Payments Association (CPA) announced today two key initiatives to support its multi-year project to modernize Canada's core payments infrastructure. The CPA has begun a process to create a shared industry vision for the future of payments, and at the same time, is launching a public consultation on the introduction of a new global payments messaging standard."
  • Envestnet to Acquire Yodlee - "Yodlee is the preeminent name for data in financial services today. The core of every financial transaction and every financial decision is data. The Yodlee platform brings together client permissioned financial data and analytics in unique ways to power personalized and dynamic financial apps and generate business insights," said Bill Crager, President of Envestnet.
  • Global Card Fraud Losses Reach $16.31 Billion — Will Exceed $35 Billion in 2020 According to The Nilson Report - “Multiple factors contributed to that gap,” said David Robertson, Publisher of The Nilson Report. “Nothing mattered more than the lack of an EMV-compliant infrastructure.”
  • Moneris Launches PAYD Product Family Empowering Businesses to Accept Payments Anywhere in the U.S. - “Moneris is pleased to be one of the first to bring an EMV-enabled mPOS solution to the U.S. market,” said Chris Lee, President of North American Strategic Partnerships, Moneris. “PAYD Pro offers the latest security features and payment technology, while providing the convenience of quick and efficient mobile transactions."
  • Mobile Payments Start Up PaidEasy Closes $2,000,000 Seed Round of Funding - "With seamless integration into each individual merchants Point of Sale system, PaidEasy gives its users the ability to open, view, split, tip and pay their bills in real-time. PaidEasy will be available at both restaurants and bars to start with plans for other verticals in the hospitality industry for the immediate future."
  • Apple Pay™ Now Available to Bellco Members - “Our commitment to our members is to offer them the best, most convenient banking experience possible, and adding Apple Pay is just one more way we are working to live up to that commitment,” said Doug Ferraro, CEO of Bellco Credit Union. “Not only is Apple Pay simple and convenient, but it also adds a layer of privacy and security to making digital or in-store payments.”

Glenbrook's 2015 Payments Education

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!

August 10, 2015

Headline News from PaymentsNews.com - August 10, 2015

On the Web:

  • When One App Rules Them All: The Case of WeChat and Mobile in China - A16Z.com Blog - "This post is all about WeChat, but it’s also about more than just WeChat. While seemingly just a messaging app, WeChat is actually more of a portal, a platform, and even a mobile operating system depending on how you look at it."
  • The Finanser Interviews: Kosta Peric, the Bill & Melinda Gates Foundation - Financial Services Club Blog - "Our goal is that the payment infrastructure supports the national currency. The majority of the users have to purchase things, to pay schools, to send money and this means that we need to use the national currency. Of course, bitcoin as a currency can be useful in some specific cases, like international remittances. But the major use cases of mobile money will be with the national currency."
  • ANZ Bank hires tech panel to advise board - ITnews - "ANZ has appointed Twitter APAC head of online sales Aliza Knox, former head of global retail and strategic development for PayPal Don Kinsborough, former CIO of Procter & Gamble Filippo Passerini, and head of strategy and engagement for Dimension Data Gerard Florian to the panel."

On the Wires:

  • American Express Adds Apple Pay for U.S. Corporate Cards - "Apple Pay allows American Express® Card Members to add their eligible Corporate Card and pay with their mobile devices at contactless merchants in stores, or within participating apps that accept American Express. American Express added Apple Pay for Consumer Cards and OPEN Small Business Cards in late 2014."
  • CashStar and Maritz Motivation Solutions Announce Strategic Partnership to Deliver Personalized Digital Gift Card Offerings - “Maritz has established themselves as a clear leader in the loyalty and incentives market,” said Ben Kaplan, president and CEO of CashStar. “The strategic partnership with Maritz Motivation Solutions is a major proof point of CashStar’s increasing leadership in B2B gift card distribution.”
  • Aussie Firm Lokket Takes Apple Wallet to Chip & Pin (EMV) - “Consumers are increasingly mobile-first when it comes to making purchase decisions. By marrying real-time personalized mobile marketing messages with existing in-store redemption tools such as Chip & Pin (EMV) terminals, eliminates a lot of the headaches for retailers,“ said George Kaloudis, CEO & Founder of Lokket.

Glenbrook's 2015 Payments Education

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!

July 24, 2015

Headline News from PaymentsNews.com - July 24, 2015

On the Web:

  • Square Said to File Confidentially for Initial Offering - Bloomberg - "Square has been working with Goldman Sachs Group Inc., Morgan Stanley and JPMorgan Chase & Co. on the IPO, said the people, who asked not to be identified because the process is private."
  • UK Banks Hold Out For Bumper Visa Price Tag - Sky News - "Some of Britain's biggest banks are in line to land bigger-than-expected windfalls from negotiations about a takeover of Visa Europe that could value the payments company at more than £13bn."
  • Chipotle says mobile payments, not loyalty, will drive customer insights - Mobile Commerce Daily - “With regard to loyalty, that’s a tricky subject,” said Mark Crumpacker, chief creative and development officer at Chipotle, during the call with analysts. “We’ve studied this in-depth, and we don’t believe the general supposition that loyalty will make less frequent customers more frequent."
  • In its second year, Apple Pay is ready to cash in - Macworld - "Chip cards, widely used in many countries overseas, are still rolling out slowly here, but when compared to the ability to pay with one’s phone, they start to seem positively antiquated. Smartphone saturation, meanwhile, has probably outpaced smartcards."
  • FinTech Bits: Smart Banks Are Banking on the Blockchain - Steptoe Cyberblog - "The takeaway from all of this? Banks, money remitters, and other financial institutions would be well-served to join the growing list of organizations that are studying possible applications for digital currencies and the blockchain to enhance their business, lest they be left behind by a wave of innovation in FinTech."

On the Wires:

Glenbrook's 2015 Payments Education

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!

July 14, 2015

Headline News from PaymentsNews.com - July 14, 2015

On the Web:

  • Apple Pay Brings Contactless iPhone Payments to U.K. - Bloomberg Business - "The Apple Pay service will be available at 250,000 retail locations in Britain starting Tuesday, the company said in an e-mailed statement."
  • A new east Africa campaign - Economist - "Equitel’s biggest selling-point is a promise to charge a fraction of Safaricom’s fees for money transfers. It is in a strong position, since Equity already banks 10m Kenyans and has branch networks in several countries."
  • HSBC bows out of Apple Pay launch as Barclays vows future support - Apple Insider - "It seems Apple Pay's UK debut didn't go off without a hitch on Tuesday, as HSBC customers are not able to use service despite the bank's status as an official launch partner. In a related development, Barclays did an about face and announced upcoming support for Apple's contactless payment solution."

On the Wires:

  • Green Dot Announces Opening of Wholly-Owned Subsidiary in Shanghai, China - “We believe that the future of financial services belongs to those institutions that are tech-centric in their vision and tech-savvy in how they execute that vision. Green Dot is a financial technology innovator and the opening of our new software development center in China is intended to further power our ability to efficiently create cool products that solve important problems,” said Kuan Archer, Chief Operating Officer of Green Dot Corporation and Executive Director of Green Dot Shanghai.
  • Apriva and Globalcom Bring EMV Solutions to U.S. Unattended Markets - "By integrating Apriva’s Gateway with Globalcom hardware, this partnership brings proven EMV hardware into a wide variety of unattended markets in the U.S., including parking, kiosk, car wash, banking, gaming, airline kiosk, vending, and retail."
  • First Bankcard Introduces New Mobile App, Offering a Convenient Way to Access Credit Card Rewards - “Instantly redeeming rewards while you’re shopping, dining out or enjoying a ball game is just one of many ways our mobile app serves our customers’ needs,” said Mihaela Kobjerowski, vice president, Customer Management and Digital Solutions. “It’s all a part of our commitment to provide our customers the best digital experience while they’re on the go.”
  • 75 Percent of Financial Institutions (FIs) Concerned About Customer Attrition Due to Limited Payment Choices - "The shift in consumer expectations and increased competition from new market entrants are underpinned by the growing importance of the customer and the centrality of enabling an enhanced experience. As such, FIs must invest in their payments capabilities."

Glenbrook's 2015 Payments Education

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!

July 10, 2015

Headline News from PaymentsNews.com - July 10, 2015

On the Web:

  • Cash is dying in the developing world - Wired UK - "M-Pesa in Kenya is the mobile banking service that everyone knows, but in fact these days there are 261 different services across the world and they enable in total around 480 million transactions per month."

  • No One Is Winning the Battle for Digital Wallet Customers - Gallup - "Though Apple is trying to change this trend with Apple Pay, Gallup analysis shows enthusiasm for digital wallets is still low. Only 13% of U.S. adults with a smartphone have a digital wallet on their device, and 76% of those who have a digital wallet have never used it or have almost never used it to make a purchase from a retailer in the past 30 days."

On the Wires:

Glenbrook's 2015 Payments Education

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!

July 08, 2015

Headline News from PaymentsNews.com - July 8, 2015

On the Web:

On the Wires:

  • Digital River Teams up with Global Mass Payments Provider Payoneer - "We’re excited about working with Digital River to help meet the growing demands of their merchants. Payoneer’s all-in-one mass payout services are an exciting complement for Digital River merchants challenged with the complexities of global payouts,” said Scott Galit, Payoneer’s CEO. “Payoneer is fully committed to helping Digital River clients capitalize on international market opportunities by enabling them to pay globally as easily as they do locally.”
  • Capital One Teams with Vantiv to Enhance Payment Processing Solutions for Merchant Services Customers - "Capital One is committed to providing the most innovative technologies to our business customers," said Colleen Taylor, executive vice president, head of Treasury Management and Enterprise Payments, Capital One Bank. "By partnering with Vantiv, our clients will now benefit from Vantiv's industry-leading payment tools and services, which are designed to help them focus on what they do best - running and growing their businesses."
  • Ink from Chase Unveils New Design and Enhanced Features of Mobile Application - “The new Ink app was designed with one goal in mind: to simplify backend office management for small business owners so they can focus on their business,” said Laura Miller, President, Business Card at Chase. “By giving small business owners the ability to easily, quickly and more efficiently manage their finances and the financial activity of their employees, they have more time to focus on their passion and grow their small business.”
  • U.S. Bank Selects Biller Advantage from Fiserv to Enable Business Customers to Send e-Bills, Accept e-Payments - “Consumers are looking for ways to simplify their finances and streamline their bill payment process. Our business customers want to meet this demand and offer consumers the best and most user-friendly billing and payment options,” said Sam Robb, senior vice president, U.S. Bank. “Biller Advantage from Fiserv will allow us to offer a multichannel EBPP solution to our business customers – a new offering that will allow them to more efficiently send bills and quickly accept payments."
  • IDEX Enters into a Strategic Worldwide Biometric Card Partnership with a Global Payments Company - Dr. Hemant Mardia, CEO of IDEX stated, “We are very pleased to have been selected for this global company biometric card initiative enabled by our compelling low cost, turnkey fingerprint sensor solutions. The program will commence development during 2015. This partnership is expected to enable IDEX to secure a leading position in this emerging mass market for fingerprint sensor based biometric cards.”
  • Adyen Mobile Payments Index reveals 36% of global mobile payments are now on iPhone - “The continued rise in popularity of the iPhone for making online purchases, coupled with the higher ATV from shoppers using iOS, suggest that businesses – especially those that classify themselves as premium brands – should target this valuable demographic in particular,” said Roelant Prins, Chief Commercial Officer, Adyen. “Apple Pay, as it becomes available in more markets, represents a great opportunity for businesses to fulfil this as it enables them to deliver a seamless payment experience to iOS users.”
  • Fostering Innovation and Growth in Smart Card Programs –- Entrust Datacard Continues to Help Expand EMV Instant Issuance Market Adoption - "Entrust Datacard today announced that financial institutions have instantly issued over 2.1 million chip cards globally in 2015 utilizing Datacard® instant issuance hardware and associated software. That number is projected to grow as more financial organizations adopt the technology – especially within the U.S. where EMV migration is rapidly accelerating."

Glenbrook's 2015 Payments Education

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!

July 06, 2015

Headline News from PaymentsNews.com - July 6, 2015

On the Web:

On the Wires:

  • Visa Europe: 1 billion Visa contactless purchases made in last year - Sandra Alzetta, Executive Director of Core Products at Visa Europe said: “Contactless momentum continues to build as more and more people discover it’s often the quickest and most convenient way to pay for everyday things. Across Europe, usage levels have soared, with more than one billion contactless transactions made by Visa cardholders in the last 12 months alone."
  • Western Union Enhances Mobile Money Transfer Capabilities in Africa - “Western Union continues to grow its reach across Africa, while delivering an exceptional experience across retail and mobile platforms, allowing our customers to conveniently and reliably move money,” said Khalid Fellahi, senior vice president and general manager, Western Union Digital. “Furthermore, Western Union seeks to promote global economic opportunity by bridging gaps in the traditional financial services system, and strives to provide consumers with 24x7 access to Western Union services.”

Glenbrook's 2015 Payments Education

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!

July 02, 2015

Headline News from PaymentsNews.com - July 2, 2015

On the Web:

On the Wires:

  • PayPal to Acquire Xoom - "PayPal, Inc. and Xoom Corporation, a digital money transfer provider, today announced a definitive agreement under which PayPal will acquire Xoom for $25 per share in cash or an approximate $890 million enterprise value."

Glenbrook's 2015 Payments Education

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!

June 25, 2015

Headline News from PaymentsNews.com - June 25, 2015

On the Web:

  • The sale of Visa Europe: a potential setback for merchants in the fight against fees - Treasury Insider - "The news that Visa Inc. is in discussions to purchase its former subsidiary Visa Europe in a possible US$20 billion deal certainly falls into this category – and should be a major concern for European merchants."
  • Suspect in $55 Million A.T.M. Scheme Is Extradited to U.S. - New York Times - "Prosecutors said that hackers including Mr. Findikoglu wormed their way into the computer systems of financial institutions that process prepaid debit cards. Next, they said, the hackers significantly raised the withdrawal limits normally set for the cards, which are often used to pay employees or aid disaster victims."
  • Go New Places with PayPal and Uber - PayPal Forward Blog - "PayPal is now available as a payment option to Uber riders in Canada, Greece, Hong Kong, Israel, Mexico, New Zealand, Singapore, Switzerland and Sweden."
  • HDFC’s PayZapp, India’s First Apple Pay Feature, Enters Mobile Payments - MF Monitor - "Being introduced by the largest private bank, PayZapp, on the back of ApplePay, may emerge as a game changer, as it eliminates the various intervening steps required to pass a mobile transaction, following RBI norms of two-factor authentication."
  • Before paying with bitcoins… - Federal Trade Commission Consumer Information Blog - "In fact, the FTC has received hundreds of complaints involving bitcoins and other virtual currencies. The two most common problems? Online merchants who don’t deliver the product on time — or at all — and merchants who give refunds in store credit, rather than currency."

On the Wires:

  • Organization Announcement: American Express - "With that in mind, today I am announcing the realignment of several businesses and reporting lines in a way that leverages the strengths of our executive team to help us build momentum and capitalize on the growth opportunities we have across the company."
  • FICO Sees 25 Percent Jump in Cross-Border Fraud on UK Debit Cards in 2014 - "Criminals are now opting for card-not-present and cross-border fraud," said Martin Warwick, FICO's fraud chief in Europe, the Middle East and Africa. "The alarming rise in cross-border fraud demands new technology, such as proximity location services that can identify whether the customer's mobile is in the same place where the transaction is occurring. The UK reduced cross-border card fraud from £230 million in 2008 down to £80 million in 2011. But cross-border fraud has nearly doubled since then, and it's time to get it back under control."
  • The Nilson Report: U.S. Household and Credit Card Debt 2014 - "Total household debt in the U.S. was $13.512 trillion at the end of 2014 and credit cards accounted for 6.52% or $881.57 billion, according to the annual report on credit card debt in the U.S. published by The Nilson Report, the top trade newsletter covering the card and mobile payment industries."
  • Auth0 Raises Series A Led By Bessemer to Take the Pain Out of Identity Security - “It’s now painfully obvious that insecure or incomplete authentication implementations are creating vulnerabilities, jeopardizing customer trust, and hindering enterprise adoption of cloud and mobile services,” observed VeriSign co-founder David Cowan, a partner at BVP. “So Bessemer is thrilled to partner with the best identity team in the world to deliver secure login as a service — as easy to use as Twilio, SendGrid and Stripe.”
  • Seamless Distribution AB: SEQR now live in the UK - “Launching SEQR in the US and the UK has been a top priority for us at Seamless. By offering a smart, adaptable mobile payment service, we’ve been able to attract some of the biggest operators in the market. Now that we’re starting to work with merchants and consumers, we’re creating the right conditions to be able to establish ourselves as the biggest mobile payments provider in the UK as well, a market with around 60 million potential customers,” says Peter Fredell, CEO of Seamless.

Glenbrook's 2015 Payments Education

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!

June 11, 2015

Headline News from PaymentsNews.com - June 11, 2015

On the Web:

  • Wences Casares: The Bitcoin-Obsessed Serial Entrepreneur - CoinDesk - "I truly believe that it may change the world more than the Internet did. I truly believe that [because of the] 4 billion people who live on cash today. It is the biggest step forward in the democratisation of money we've ever seen."
  • Apple's most important service is about to get so much better - Business Insider - "It's no coincidence Jennifer Bailey was chosen to be the first woman to appear on stage at an Apple keynote. As the VP of Apple Pay, she's in charge of Apple's most important service, which aims to revolutionize how we pay for goods."

On the Wires:

  • Bank of America Merchant Services Provides American Express® OptBlue® Program to Small Businesses - “Bank of America Merchant Services is committed to making business simpler and easier on Main Street,” said Tim Tynan, chief executive officer of Bank of America Merchant Services. “OptBlue will allow our small business clients to accept and manage American Express transactions in a simpler and easier way, so they can spend more time focused on their own business.”
  • U.S. Bank Renews Multiple Payment Solutions, Will Work with Fiserv to Deliver Integrated, Real-Time Payment Experience to Consumers - “The Fiserv digital payment suite enables convenient and secure money movement for our customers through the online, mobile and tablet channels,” said Niti Badarinath, SVP, head of omnichannel experience, U.S. Bank. “Whether people are paying bills, sending money to others or transferring funds between their own accounts, we want to provide a seamless experience that allows customers to focus on moving their money from point A to point B, without having to think about how that happens."
  • Seamless Distribution AB: SEQR Now Live in USA - "We are now all set strategically and have more merchants on the way in. Many businesses are interested in mobile payments, which I also witnessed during my time at Visa, Monitise and PayPal, who are all investing heavily in mobile payments. But everyone has been waiting for a mobile payment solution that can be implemented easily and cost effectively. SEQR is that solution," says Daniel Bessmert, General Manager of SEQR in the U.S.

Glenbrook's 2015 Payments Education

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!

June 10, 2015

Headline News from PaymentsNews.com - June 10, 2015

On the Web:

  • Fintech Party May Attract Crashers - Wall St. Journal - "When the Financial Stability Oversight Council released its 2015 annual report last month, among the emerging threats to financial stability it called out was the migration of activities out of banking and into innovative new firms."
  • Breach at Winery Card Processor Missing Link - Krebs on Security - "Today, the company responded that it had begun notifying its customers about the incident, and that it was working with law enforcement and the card associations on an investigation."
  • Stripe Now Has An iPhone App For Monitoring Payment Activity - TechCrunch - "The new iPhone app does basically everything its existing online dashboard does, but brings it to an interface more suited for a mobile device. Businesses can also set up notifications for whenever a payment or purchase is made or set up a daily summary."
  • Retailers can bypass £20 limit for Apple Pay transactions in the UK - iMore.com - "With Apple Pay coming to the U.K. in July, payment processing services are considering removing the £20 limit on contactless payments in the country."
  • Millions of Barclays customers will NOT be able to use Apple Pay - Express - "Barclays has its own mobile payment service - Pingit - and has therefore declined to partner with Apple. It means that the bank's 12 million current account customers will not be able to sync their account with Apple Pay to use the service."

On the Wires:

  • Verifone Supports Launch of New Store Rewards Offering within Apple Pay - “Adding loyalty to Apple Pay will open a world of opportunity for a wide range of merchants to engage consumers and grow their businesses,” said Vin D’Agostino, executive vice president of Commerce Enablement, Verifone. “We are proud to support Apple Pay in expanding contactless payments to include loyalty."
  • Global Payments Names Frank T. Young Senior Vice President of Global Product and Innovation - "Young comes to Global Payments having spent his professional career focused on the intersection of innovation, technology and commerce, most recently with Google where he led strategy and partnerships supporting in-store, online and person-to-person payments. Prior to joining Google, he held senior roles at Firethorn, now a division of Qualcomm, MasterCard Advisors and Accenture."

Glenbrook's 2015 Payments Education

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!

June 09, 2015

Headline News from PaymentsNews.com - June 9, 2015

On the Web:

  • PayPal’s Dan Schulman aims at millennials' wallets - Fortune - "When PayPal spins off from eBay this summer, its new CEO will be in the thick of the battle to dominate online payments."
  • Apple Pay transactions will be capped at £20, banks admit - BBC - "But banks have told the BBC payments will be capped at £20, similar to existing contactless payments. The limit on contactless debit and credit cards is due to rise to £30 in September."
  • Square Unveils Mobile Wallet-Friendly Credit Card Reader - New York Times - "The new reader, which Square said will be widely available this fall, operates wirelessly for merchants who want to accept contact-less mobile payments. It also accepts so-called EMV enabled credit cards, a technology that includes a chip built into credit cards for added security."
  • Facebook Is Handing Out Free Beacons to Retailers - Re/code.net - "The idea is that beacons — small devices that can send a signal to a person’s smartphone when they get within a certain proximity — can be used to push information and deals to people while they’re in a prime position to make a purchase."
  • Money Isn’t Free, but Moving It Is Now Cheaper - Wall St. Journal - "We are at that transition point in which most of us own checkbooks and wallets as well as smartphones. Now imagine a time when all we have is our mobile device, or a pin-and-chip card and our thumbprint, and every time we want to support our friends, a local business or even foreign revolutionaries, all it costs us is a moment’s consideration."
  • Your bank account: The next thing to go obsolete - CNN Money - "Not only is banking not for everyone, accounts are inaccessible to about half of the world. People are too poor, live too far from a bank or don't have the required documentation. Abra, a new startup, makes banking more accessible while completely cutting out the actual bank."
  • Banking 2025: The Bank of the Future - "Once the number of new users reaches a critical mass, the process of reorganisation is no longer linear and continuous, but advances in bursts and exponentially. This means that, at a certain point in time, the process of system change gains so much momentum that it can hardly be controlled. In view of the inefficiency of the existing banking system as well as the economic superiority of web-based alternatives, it seems that it is only a matter of time before a system change takes place in the banking business."

On the Wires:

  • Visa Amends Rules to Help Airline Industry Reduce Card-Not-Present Fraud - "Visa Inc. announced at a recent meeting of the Airlines Reporting Corporation (ARC)-sponsored Credit Card Working Group (CCWG) that effective October 2015 it will accept airline-supplied flight manifests as a remedy for fraud payment card chargebacks."
  • Apple Pay Coming to the UK - “Apple Pay has quickly become a big part of millions of users’ everyday shopping routines, providing a simpler, faster and more secure way to pay,” said Eddy Cue, Apple’s senior vice president of Internet Software and Services. “We’re thrilled to bring Apple Pay to the UK with support at launch from the most popular banks, an incredible roster of merchants and many of our users’ favorite apps.”
  • Apple Pay Coming To MasterCard Customers in the U.K. from July - "MasterCard is working with several banks, including: HSBC; MBNA; RBS/Natwest and Santander, to enable users of an iPhone 6, iPhone 6 Plus or Apple Watch to use their MasterCard credit, debit or prepaid cards directly through Apple Pay."
  • Apple Pay Coming to Millions of UK Visa Cardholders Beginning in July - Jeremy Nicholds, Executive Director of Mobile at Visa Europe, commented: “Contactless payments are already widely embraced by millions of Visa cardholders across the country every day, so adding the simplicity and convenience of Apple Pay will catapult mobile payments into the mainstream. If people leave the house with one item, it’s their mobile phone – we’ve worked alongside Apple and the various banks involved to give customers a really seamless and exciting new payment experience through Apple Pay, so they have new ways to use their favourite Visa cards on the go and when shopping in the apps they love.”
  • Synchrony Financial Integrates Private Label Credit Cards and Patented Dual Cards with Apple Pay - “Through our ongoing innovation and strategic partnerships, we have developed a mobile platform that we can rapidly integrate across retailers and wallets, continuing to offer our value proposition for Apple Pay users,” said Margaret Keane, president and CEO of Synchrony Financial. “Through this approach, Synchrony Financial is helping shape the future of how private label credit cards work when customers choose to make contactless payments.”
  • TSYS Supports Apple Pay in the U.K. - “TSYS’ support of Apple Pay is a landmark opportunity for us and demonstrates our people-centered approach to payments for all parties in the payments ecosystem,” said M. Troy Woods, chairman, president and chief executive officer, TSYS. “Our number one priority is security for the banks and retailers we serve, so their customers can conduct their lives with confidence and convenience. Apple Pay will change the face of the mobile payments industry and our role in the digital marketplace.”
  • First Data to Support Launch of Apple Pay in the UK - “Following the successful launch of Apple Pay in the U.S. last year, First Data is thrilled to support the launch of Apple Pay in the U.K. to help our clients bring their customers added convenience, security and privacy. First Data has established itself as a trusted enabler of mobile payments, and we are proud to help transform the payments landscape for the benefit of our clients,” said Sanjiv Das, Executive Vice President, Head of International Regions, First Data.
  • Walgreens Launches App for Apple Watch to Support Medication Adherence - "Walgreens also announced today the planned integration of Balance Rewards with Apple Pay, coming this fall to stores with the launch of rewards support for Apple Pay. Beginning this fall, Apple Pay will provide immediate access to Balance Rewards without separately scanning a Balance Rewards card. Balance Rewards members will have the ability to earn and redeem Balance Rewards points via Apple Pay, the easy, secure and private way to pay."
  • Visa Europe: Smart devices on track to replace cash and cards - "According to new research from Visa Europe, consumer adoption of mobile payments will grow faster than ever in the next five years, with six in ten Britons (60%) expecting to use their mobile devices for payments at least once a week by 2020."
  • Apriva, Miura Systems Partner to Deliver Added mPOS Functionality to U.S. Market - “As we’ve seen the U.S. market expand in mobile payments and chip card acceptance begin to take off, we saw a great opportunity to bring the EMV, Contactless and NFC technologies we’ve tested and proven in over 35 global markets to the U.S.,” said Mark Roberts, SVP Sales & Marketing, Miura Systems. “With their vast connections and highly respected products, Apriva provided us with the ideal partner to bring our Chip and PIN ready peripherals to customers in the U.S.”
  • Splunk Cloud Drives Security Monitoring and Threat Detection at Orrstown Bank - "Splunk Cloud gives Orrstown Bank centralized visibility into machine data coming from more than 60 unique data sources across its entire hybrid IT environment that includes on-premises servers, Amazon Web Services servers and Microsoft Azure. With the ability to now analyze this hybrid data together in Splunk Cloud, Orrstown Bank has improved IT operations reliability and can quickly detect anomalous behavior across its performance, application and network data logs."

Glenbrook's 2015 Payments Education

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!

June 08, 2015

Apple Updates Apple Pay

Apple logo 140pxToday, at its Worldwide Developers Conference in San Francisco, Apple VP Jennifer Bailey introduced several updates Apple is making to Apple Pay including announcing new merchants accepting Apple Pay, the addition of support for private label and loyalty cards, a new partnership with Pinterest for "buy buttons", and expansion of Apple Pay into the UK beginning in July. Apple also said is was working with Square to enable Square merchants to accept Apple Pay later this year. Apple is also renaming its Passport application to Wallet - reflecting the increasing functionality. The functional changes will be part of Apple's upcoming iOS 9 operating system for the iPhone and iPad.

Headline News from PaymentsNews.com - June 8, 2015

On the Web:

  • E-commerce Fraud, Data, and EMV’s Impact on CNP Losses - PaymentsViews.com (George Peabody) - "This discussion with Tom Donlea, Director, e-Comm/Retail Practice at Whitepages, looks at how the data is provided to the merchant, the challenge of data sourcing in international markets, the care and control of PII, and what the US EMV roll-out could mean for CNP fraud."
  • Google Misses Out on Apple’s Slice of Mobile Transactions - Wall St. Journal - "Google isn’t getting transaction fees from bank issuers, said people familiar with the situation."
  • PayPal Holdings presentation for investors and analysts - Exhibit included in a June 8, 2015 eBay SEC filing
  • How I Learned to Stop Worrying and Embrace the Security Freeze - Krebs on Security - "Even if you haven’t noticed (or maybe you just haven’t actually received a breach notice), I’m here to tell you that if you’re an American, your basic personal data is already for sale. What follows is a primer on what you can do to avoid becoming a victim of identity theft as a result of all this data (s)pillage."
  • Westpac, ANZ trial Ripple payments, but big four reluctant on bitcoin - Financial Review (Australia) - "Executives at big four banking rivals are still adopting a more cautious stance on the future acceptance of bitcoin in the mainstream economy, pointing to the fact that it remains unregulated and fraught with risks related to money laundering."
  • Remittances at the Click of a Smartphone Button - New York Times - "While the likes of Western Union have offered international money transfers for decades, new tech start-ups and traditional telecom operators are taking advantage of the rapid rise of smartphones in many emerging economies to reduce the barriers — and costs — of sending cash overseas."
  • Why financial firms are investigating bitcoin tech - CNBC - "The blockchain is the financial challenge of our time," said Blythe Masters, CEO of Digital Asset Holdings, on Tuesday at the Exponential Finance Conference hosted by CNBC and Singularity University. "It is going to change the way that our financial world operates."

On the Wires:

  • Apple Pay Giving Shoppers Even More Ways to Pay - "Apple Pay will also give shoppers more ways to pay in the US, expanding merchant acceptance to over one million locations next month and bringing support for Discover this fall. With this addition, Apple Pay will accept credit and debit cards across all major card networks, issued by the most popular banks, representing 98 percent of all credit card purchase volume in the US."
  • U.S. Bank Gives Customers Access to Free Credit Score - “Knowing your score is important, but even more importantly, we want customers to understand how choices they make can affect their score in the future,” said Andrew Cecere, chief operating officer for U.S. Bank. “Having a good credit score makes it easier to take out a loan, rent an apartment or make a major purchase with the best possible terms. Offering CreditView through TransUnion helps our customers make wise choices, and is consistent with U.S. Bank’s broader efforts to promote personal financial responsibility.”
  • TSYS Enhances Card Production in the Migration to Chip Cards - “We have worked with our U.S. clients since last year as they prepare to issue chip cards in 2015, and it was clear to us early on that we could create an improved process,” said Bob Kellum, group executive of Output Services, TSYS. “This solution lets our issuers focus more on strategy and execution and less on managing new operational challenges. We have also included Chip Card on Demand in TSYS Card Shop to create custom chip cards.”

Glenbrook's 2015 Payments Education

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!

May 28, 2015

Headline News from PaymentsNews.com - May 28, 2015

On the Web:

  • Pay your way with Android - Android Official Blog - "Things are more interesting when we create them together. So we’ve approached Android Pay the same way we approach every other part of the Android family -- partnering with the ecosystem -- bringing together mobile carriers, payment networks, banks and retailers to deliver you choice and flexibility. And offering developers an open platform to collectively push mobile payments forward."
  • A Primer on Android Pay and Google Wallet - New York Times - "Both Android Pay and Apple Pay are perhaps a larger affront to PayPal, which for years has been the leader in digital payments."
  • Google Unveils Apple Pay Rival - Wall St. Journal - "It isn’t clear how Google will get paid for the Android Pay service. An executive and a spokeswoman at the company said Thursday that the goal is to make Android phones more useful. The spokeswoman declined to comment further."
  • Google and Apple Adjust Strategies on Mobile Payments - New York Times - "The battle for mobile software dominance revolves around two companies: Apple and Google. Now both giants are also going head-to-head in mobile payments, as they prepare to push deeper into digital wallets."
  • Target Wants To Offer Apple Pay, But Focus Is On Chip And Pin - TechCrunch - “People in our space are under attack,” said Cornell, explaining that he didn’t want to distract the team rolling out their chip and pin upgrades to all of their stores by adding in additional variables like Apple Pay.
  • Here’s why finance is about to be disrupted - O'Reilly Radar - "Despite huge technological change and a series of financial crises, the league table of the largest financial firms today, both in the U.S. and around the world, remains much the same as it has always been."

On the Wires:

  • Visa Announces New Commercial Standard for Mobile Payments - "Visa Inc. today announced a new program that connects financial institutions and technology companies to simplify and accelerate the roll-out of new payment and commerce services. Visa's new Digital Enablement Program (VDEP) builds on the company's secure token technology and adds a turn-key, toll-free commercial framework accessible to more than 14,500 Visa financial institution clients and leading technology partners around the world. Google, with its Android Pay payment solution, is Visa's first international program partner."
  • MasterCard Powers Android Pay, Bringing Mobile Payments to Android Device Owners - “Mobile payments are here today, and are now an essential part of the core value proposition for new devices,” said Ed McLaughlin, Chief Emerging Payments Officer, MasterCard. “With the MasterCard Digital Enablement Service (MDES) and Android Pay, we can now use secure tokens to easily enable payments from a consumer’s connected device. Today’s news extends consumer choice and drives further ubiquity of payments on devices.”
  • Android Pay is Coming to Discover Cardmembers - “Discover’s goal is to provide our customers the freedom, options and simplicity of making mobile payments with whatever method they choose. Adding Android Pay expands Discover’s ability to enhance the convenience and experience for its mobile users,” said Heather Roche, vice president of rewards at Discover.
  • U.S. Bank Customers Will Soon Be Able to Add Their Cards to Android Pay - “We’re proud to be helping our customers tap into exciting new ways to pay,” said Shailesh Kotwal, vice chairman and head of U.S. Bank Payment Services. “Android Pay gives our customers added value by providing another way to use their U.S. Bank credit and debit cards to pay for purchases with their mobile devices.”
  • USAA Members Among First to Benefit from Android Pay - “We’re committed to delivering simple and secure payment experiences for our members, which is why we are moving so quickly to integrate our cards with Android PayTM,” said Vikram Parekh, assistant vice president of credit card development at USAA. “Android PayTM is opening up the mobile payment experience to Android users.”
  • Silicon Valley Bank and MasterCard Introduce Latest Commerce.Innovated. Class - "We're thrilled to launch the next class of the Commerce.Innovated. program," said Reetika Grewal, Head of Silicon Valley Bank's payments strategy. "There continues to be a tremendous amount of innovation in the commerce sector and we are excited to be working with these amazing, early stage companies. Our unique, operationally-focused program is designed to help these remarkable entrepreneurs grow their businesses quickly and find the resources that they need in order to achieve their next milestone."
  • Visa’s Updated Statement on FIFA - "Our disappointment and concern with FIFA in light of today’s developments is profound."
  • SWIFT opens The KYC Registry to funds distributors and custodians - "Fund distributors and custodians face similar challenges to banks with KYC due diligence,” says Mark Gem, Head of Compliance at Clearstream and Chair of the SWIFT Securities Compliance Working Group. "I am pleased that SWIFT is extending the reach of The KYC Registry, building upon its momentum in correspondent banking."

Glenbrook's 2015 Payments Education

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!

May 18, 2015

Headline News from PaymentsNews.com - May 18, 2015

On the Web:

  • Can Google Outsell Amazon and eBay? - Wall St. Journal - "Google Inc. will launch buy buttons on its search-result pages in coming weeks, a controversial step by the company toward becoming an online marketplace rivaling those run by Amazon.com Inc. and eBay Inc."
  • Reid Hoffman: Why the block chain matters - Wired UK - "Why? Because in my experience, the most transformative ideas are not the ones that achieve broad consensus early on. Instead, they're the ones that are so uniquely out there, so contrarian, that even informed observers have wildly differing opinions regarding their potential value."
  • Decoding the Enigma of Satoshi Nakamoto and the Birth of Bitcoin - New York Times - "It may be impossible to prove Satoshi’s identity until the person or people behind Bitcoin’s curtain decide to come forward and prove ownership of Satoshi’s old electronic accounts. At this point, the creator’s identity is no longer important to Bitcoin’s future."
  • Apple Pay seeks alliance with Alipay in China - Want China Times - "Apple CEO Tim Cook said during his trip to China on May 13 that Apple Pay is seeking to ally with Alibaba's Alipay in tapping the Chinese market in order to challenge the dominant status of China UnionPay."

On the Wires:

  • Oberthur Technologies Partners with Samsung for the Launch of Samsung Pay in Europe - "We are very proud to have been the first selected by Samsung for the launch of Samsung Pay in Europe and to bring this new service to the many banks who will partner with us in Europe. Combining our unmatched expertise in the secure provisioning of payment means and other services with PEARL by OT® eSE we are connecting Samsung to a large ecosystem of service providers worldwide,” said Marek Juda, Managing Director of the Solutions Business Unit at OT.
  • NCR Unveils Orderman7 Mobile POS Solution for the Hospitality Industry - "With Orderman7’s large, high-resolution 5-inch HD display, users can assist customers in all types of situations, even in direct sunlight. The Orderman7 gives hospitality employees a “smartphone-like” experience combined with shock-resistant and water-tight design, while featuring programmable side buttons for the most frequently used functions."
  • Toshiba and ITAB Join Forces to Offer Cutting Edge Innovation in Checkout - “In a retail landscape that changes so rapidly, joining in an alliance with Toshiba enables us to deliver unique solutions to the retail market that leverage the combined strengths of both companies,” said Niklas Thoresson, Chief Business Officer, ITAB. “Through our joint solutions, retailers have the opportunity to improve sales and efficiency in their store operations.”

Glenbrook's 2015 Payments Education

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!

May 12, 2015

Headline News from PaymentsNews.com - May 12, 2015

On the Web:

On the Wires:

  • Chase Expands Chip Technology to Debit Cards and ATMs to Help Protect Consumers and Businesses - “Fraud and security threats facing consumer payments today is a complex issue that can’t be solved with any single technology,” said Gordon Smith, CEO of Chase Consumer and Community Banking. “We’re working to employ a variety of approaches to protect our customers – adopting chip technology is a critical step on this journey.”
  • Early Warning and NCR to Enable Cross-Institution Real-time Good Funds Network - "Early Warning’s good funds network will facilitate communication among financial institutions, giving a participating depositing bank a real-time guarantee for check and ACH transactions and will support both credit push and debit models. As a result, customers will receive faster availability of funds on deposited items and instant notification of items presented for deposit – all based on real-time activity."
  • Stratos Unveils Digital Card Issuance Platform at Finovate - “Stratos is reinventing the wallet. Just as consumers have migrated their music collections into digital formats such as iTunes, so too are cardholders now compressing what goes into their wallet,” said Thiago Olson, co-founder and CEO of Stratos.

Glenbrook's 2015 Payments Education

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!

May 07, 2015

Headline News from PaymentsNews.com - May 7, 2015

On the Web:

  • PayPal co-founder raises $275 million to reinvent credit - "Banks and financial institutions have not created products that serve younger generations in the most efficient way, according to Max Levchin, the co-founder of eBay-owned payments giant PayPal."
  • BitBeat: Day After FinCEN Bombshell, Ripple Labs Addresses Concerns - Wall St. Journal - "Even with these clarifications, questions and speculation will continue to percolate around FinCEN’s dramatic action against the second-biggest digital currency in market capitalization terms."
  • Visa Moves At The Speed Of Money - Forbes - "None of which seems to faze Visa’s chief executive, Charlie Scharf. In time, he says, would-be Visa disruptors all discover–just as Internet upstarts PayPal, Square and Uber did–that it is simply easier and more economical to work with his leviathan than fight it."

On the Wires:

Glenbrook's 2015 Payments Education

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!

April 30, 2015

Headline News from PaymentsNews.com - April 30, 2015

On the Web:

  • New Circle Investors, New US Dollar Account Features, China Horizons - Circle Blog - "Today we announced a major step forward in the execution of our vision and product strategy. We've closed a new $50 million strategic investment round co-led by Goldman Sachs and IDG Capital Partners."

  • This Digital Wallet Could Finally Get You Into Bitcoin - "In other words, the Circle wallet will soon work just like Venmo or any other money-transfer app, except it also works seamlessly with bitcoin, so you can handle your money in the form you value the most."

  • Capital One exec predicts mass shift to Apple Pay this year - Mobile Commerce Daily - “I really believe we’re going to have this mass shift over to contactless payments,” Mr. Moreton said. “What you see is this huge change over a relatively short period of time.”

  • In Code We Trust - New York Times Magazine - "One way to understand this chaos is to see that power is shifting. The authority to create, move and define money — once confined to central banks and treasury departments — is being dispersed to an odd mix of entrepreneurs, libertarian hackers and old-line banking institutions."

  • Financial Giants Set Up Tech Hubs in Manhattan - Wall St. Journal - "MasterCard is one of several big-name financial services firms that are opting to set up tech divisions in prime Manhattan real-estate markets outside of their headquarters because many increasingly see themselves more as technology companies."

  • Online hackathon seeks to build solutions using Aadhaar app interface - Business Standard - "AngelPrime, a seed-stage venture capital fund based in Bengaluru, and Nasscom, in collaboration with UIDAI, will host the first of its kind online 'Aadhaar Application Hackathon' in June this year. The hackathon aims to encourage and promote the development of applications using the Aadhaar application programme interfaces (APIs)."

  • Bitcoin Could Impact Credit Unions, Report Says - CoinDesk - "...we could see the proliferation of a host of new financial services backed by bitcoin, many of which are directly associated with the core businesses of credit unions today."

On the Wires:

  • Visa Inc. Reports Fiscal Second Quarter 2015 Net Income of $1.6 billion or $0.63 per Diluted Share - “Visa reported another solid quarter of financial results against the continued backdrop of a tepid global economy. While the negative impacts from the strengthening of the U.S. dollar and lower gasoline prices continued to exert pressure on revenue growth, our results and volume trends have remained strong,” said Charlie Scharf, Chief Executive Officer of Visa Inc.

  • Visa Expands Global Technology Research; Hires Senior Scientist to Lead Visa Research Labs - “Digital commerce is rapidly evolving due to the introduction of new technologies. As the world becomes more connected, every device, car, or appliance becomes a place where secure digital commerce can take place,” said Rajat Taneja, Executive Vice President, Technology, Visa Inc. “I am excited to expand our technology research efforts and have Min lead Visa Research Labs. This effort has the potential to shape the way we pay and get paid in the future, and transform the lives of millions of unbanked consumers by finally providing them with access to secure digital commerce.”

  • MasterCard Named Exclusive Card Processor by Green Dot Bank - Green Dot Chief Operating Officer, Kuan Archer said, "Our processing technology team has been working closely with MasterCard for the past 15 months on the integration of our two technology platforms. While certainly this project has required a significant amount of time and effort, we believe the ultimate end-state of having the most state-of-the-art, high-scale processing platform underpinning our current and future suite of modern banking products and mobile solutions will pay off in terms of our ability to create new, innovative products and services."

  • Visa: Payments Industry Moves to Help Simplify Chip Card Acceptance - "The Payments Security Task Force today joined with the PCI Security Standards Council and the EMV Migration Forum to launch a chip education curriculum and “pre-qualification” program to help streamline and simplify the EMV testing and certification process for Value Added Resellers (VARs) and Independent Software Vendors (ISVs). ... To learn more about the educational efforts, visit
    http://www.emv-connection.com/chip-education-for-vars-isvs-and-merchants/

  • Stratos Card Begins Shipping In April - "Stratos Card combines credit, debit, membership, gift and other magnetic stripe cards in one digital Bluetooth card."

Glenbrook's 2015 Payments Education

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!

April 29, 2015

Headline News from PaymentsNews.com - April 29, 2015

On the Web:

On the Wires:

  • MasterCard Incorporated Reports First-Quarter Financial Results - “We are managing well, despite a mixed economic environment and challenging currency situation,” said Ajay Banga, president and CEO, MasterCard. “The underlying fundamentals of our business remain unchanged, driving our ability to sign new agreements with Citi and Itaú, work with digital giants and expand our support of the merchant community. This, combined with our focus on costs, allowed us to continue to deliver solid results in the first quarter.”
  • Merchant Customer Exchange (MCX) Appoints Brian V. Mooney Chief Executive Officer - "Mooney was most recently CEO and a board member of Bank of America Merchant Services, one of the largest U.S. merchant payment acquirers, serving a significant segment of large U.S. merchants and handling billions of transactions."
  • Banking with a Fingerprint: Digital Insight Offers Touch ID to Access Finances - “Touch ID frees consumers from having to enter their username and password in order to access their finances,” said Dan Weis, senior product manager at Digital Insight. “The speed and ease-of-use of Touch ID will provide financial institutions another innovation to offer their customers and members and further help them differentiate in the marketplace.”
  • Patent Trial and Appeal Board Grants PQI’s Requests for Review of Three Patents Related to Loyalty Programs - "In October, Askeladden filed six IPR petitions requesting review of the three patents, U.S. Patent Nos. 8,297,502, 8,523,063 and 8,540,152, on the grounds that they are invalid. The PTAB issued decisions on April 23, 2015, which found that Askeladden’s petitions established a reasonable likelihood that each of the claims in each of the patents is invalid. A final decision on invalidity is expected within one year."
  • Introducing Amazon Business: Everything You Love About Amazon, For Your Business - “We’ve heard from business customers that they love the convenience of shopping online, and want an experience at work that is similar to how they shop at home,” said Prentis Wilson, Vice President of Amazon Business. “Amazon Business delivers a new and expanded marketplace that brings the selection, convenience and value of Amazon to business customers, manufacturers and sellers with the additional selection, features and back-end integration businesses need to save time and money.”
  • Western Union and U.S. Bank Extend Relationship - Carter Hunt, Senior Vice President and General Manager, Western Union U.S., said, “We are pleased to extend our relationship with U.S. Bank, and we remain committed to bringing customers the high level of customer service and innovation they have come to expect from our company.”

Glenbrook's 2015 Payments Education

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!

April 27, 2015

Headline News from PaymentsNews.com - April 27, 2015

On the Web:

  • Payments Innovation Jury Report 2015 - The Payments Innovation Jury Report is a report released every two years, detailing global trends in payments innovation, and future opportunities and challenges for the industry. The report is based on the expertise of a panel of 40 business leaders in the payments sector from 23 countries across six continents. Authored by industry insider John Chaplin, the research is essential reading to FinTech investors, innovators, established payments firms and all others involved in the sector. The research is sponsored by Currency Cloud, a Payments Engine transforming the industry, Ixaris, an innovator in electronic payments, and WorldRemit, an online money transfer service.
  • Apple Pay Coming to Best Buy Stores as Retailer Breaks Ranks From Walmart-Led Rival - Re/code.net - "Best Buy is the first big-name U.S. retailer to break ranks with a Walmart-led Apple Pay competitor, announcing today that it will accept Apple’s digital payment system in its U.S. stores later this year."
  • CurrentC mobile pay to kick off in a single market mid-year - Computerworld - In its email on Monday, Rankin said it is "protocol-agnostic" and works in test mode across QR code, Bluetooth and others. "We are in market today with multiple technologies and not opposed to using NFC in the future," he said.
  • Exclusive: Bitcoin company Circle raising new cash - Fortune - "Circle Financial ... is in the midst of raising around $40 million at a pre-money valuation of approximately $200 million, Fortune has learned from multiple sources."
  • Bitcoin’s Q1: Record VC Investment, Falling Prices, And Slow Consumer Adoption - TechCrunch - "The bitcoin-watching news service CoinDesk recently released its first quarter look into the cryptocurrency’s performance during the opening months of 2015."

On the Wires:

  • Apple Reports Record Second Quarter Results - “We are thrilled by the continued strength of iPhone, Mac and the App Store, which drove our best March quarter results ever,” said Tim Cook, Apple’s CEO. “We’re seeing a higher rate of people switching to iPhone than we’ve experienced in previous cycles, and we’re off to an exciting start to the June quarter with the launch of Apple Watch.”
  • Apple Pay Now Accepted in Best Buy App, Coming to Stores Later This Year - "Starting today, Best Buy customers can use Apple Pay to make purchases in the Best Buy app when using an iPhone 6 or iPhone 6 Plus. A free update is now available in the Apple App Store. All U.S. Best Buy stores will begin accepting Apple Pay later this year."
  • Discover to Bring Apple Pay to Cardmembers - “As the mobile payments landscape matures, Discover remains committed to giving cardmembers secure options for using their cards and mobile devices,” said Diane Offereins, Discover’s president of payment services. “Discover’s focus on simplicity and value for our cardmembers aligns well with the way Apple Pay makes purchases easy and convenient.”
  • Global Payments Launches EMV and Contactless Mobile Payments Solution in Canada - "Global Payments Inc. today announced the launch of the new Ingenico Companion Mobile Payment (iCMP) MPOS – a turnkey mobile point-of-sale solution offering full debit and credit EMV and contactless payment acceptance to Canadian merchants."
  • ACI Worldwide: Nearly 80 Percent of Banks, Retailers and Billing Organizations Know They are at Risk of Customer Attrition… - "Surprisingly, given the recent years of legislation across the world, retailers and billing organizations want to work together to provide a richer consumer experience and to slash costs by cutting out intermediaries. 44 percent of organizations claim they are already taking steps to, or would like to eventually, reduce the number of intermediaries in the payments value chain."

Glenbrook's 2015 Payments Education

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!

April 24, 2015

Headline News from PaymentsNews.com - April 24, 2015

On the Web:

  • The Death of Cash - Bloomberg Business - "Pause for a second and marvel at how strange this is. Banks have always paid interest to depositors. We’ve entered a new era of surplus in which banks—some, anyway—are deigning to accept money only if customers are willing to pay for the privilege."

On the Wires:

  • New Brand Campaign: Wells Fargo Celebrates Why We Work - “By recognizing and appreciating people’s hard work, and, importantly, why they do it, we are showing them we understand their desires and needs. We believe their ability to see that in us is fundamental to customers welcoming Wells Fargo to help them succeed financially,” said Jamie Moldafsky, Wells Fargo’s Chief Marketing Officer. “Caring is core to who we are at Wells Fargo, a belief that very much influenced our approach to this campaign.”
  • Fidelity Mobile® for Apple Watch™ Lets Investors Track Markets with a Twist of the Wrist - “Fidelity’s goal is to consistently provide customers with innovative ways to stay connected to the market and their investments anytime, anywhere,” said Richard Blunck, executive vice president of digital distribution at Fidelity. “The elegant and innovative design of the Apple Watch, coupled with Fidelity's app, will provide investors with fluid access to financial information on the go.”
  • Charles Schwab Introduces Apple Watch App and Unveils Enhanced Mobile Experience - “Our clients are passionate about the markets and they want to take advantage of the latest innovations in mobile technology to stay connected nearly every waking hour. This exciting new era of wearable technology elegantly extends Schwab’s powerful mobile capabilities to the Apple Watch, giving investors the unprecedented ability to literally bring the markets with them wherever they go1,” said Diane Russell, Senior Vice President of Platform and Product Management at Charles Schwab.

Glenbrook's 2015 Payments Education

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!

April 22, 2015

Headline News from PaymentsNews.com - April 22, 2015

On the Web:

On the Wires:

  • eBay Inc. Reports First Quarter Results - "We had a strong first quarter, with eBay and PayPal off to a good start for the full year," said eBay Inc. President and CEO John Donahoe. "I feel very good about the performance of our teams at eBay and PayPal. Each business is executing well with greater focus and operating discipline as we prepare to separate eBay and PayPal into independent publicly traded companies. We are moving forward with clarity and speed, with a smooth separation expected in the third quarter. We are deeply committed to setting up eBay and PayPal to succeed and to deliver sustainable value to our shareholders."
  • NACHA Announces 2015 Payments System Awards Recipients - “NACHA is proud to recognize New York City CPRS, Verifone and Wells Fargo as recipients of the 2015 Payments System Awards,” said Janet O. Estep, president and CEO of NACHA. “They each have contributed significantly to leadership and excellence in payments by finding innovative ways to evolve their processes and products to meet the needs of a changing industry.”
  • First Data and Sam’s Club Collaborate to Fuel Small Business Growth - “With this expanded agreement, First Data is making a significant commitment to millions of Sam’s Club members who currently operate or are looking to open a business in the U.S.,” said Chris Foskett, Head of Global, Strategic and National Accounts at First Data. “Extending this relationship with Sam’s Club gives us the opportunity to enable more business owners and operators to achieve their dreams.”
  • Wells Fargo Startup Accelerator Taps 3 New Early-Stage Companies - “If a startup can sell its idea to us,” said Steve Ellis, Wells Fargo head of Wholesale Services, “they can sell it to a lot of other banks, which can benefit the entire financial services industry.”
  • OTG and NCR Introduce Tech-enhanced Airport Shopping Experience - “NCR’s consumer transaction technologies enable us to offer our customers more control over their experience,” said OTG CEO Rick Blatstein. “We continue to introduce technologies that our customers are familiar with, such as self-checkout and mobile payment options like Apple Pay, which allow our crew members to spend more time on hospitality.”
  • Open Identity Exchange Launches OIXnet: A Global Registry for Trust Frameworks - “Trusted transactions are the engines of online services,” said Don Thibeau, OIX Chairman and President. “Like an Underwriter Lab’s seal of approval on products, OIXnet is a neutral, open online registry that enables a similar level of trust and discovery at Internet scale for a wide variety of trust frameworks.”
  • Green Dot Awarded New Mobile Patent, Expanding its Patent Library Related to Secure and Geo-Location-Aware Devices - "Green Dot Corporation today announced the issuance of U.S. Patent No. 8,989,778, a patent that is directed to secure and private location sharing for location-aware mobile communication devices."

Glenbrook's 2015 Payments Education

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!

April 17, 2015

Headline News from PaymentsNews.com - April 17, 2015

On the Web:

  • Square’s Jack Dorsey Puts It All Together - BuzzFeed News - "Once a media darling, he hasn’t spoken on the record to the tech press since a New York Times interview in December of last year. It’s not that he’s been hiding, exactly, but he has lowered his profile considerably."
  • PayPal, OFAC, and why regulators play rough - WePay Blog - "When OFAC comes down, they come down hard. In PayPal’s case, that multi-million dollar fine came as the result of less than $50K in transactions over a period of years."
  • Accidental Apple Pay triggers: When iPhone and NFC don't get along - iMore - "But would it be too hard to have a "Dismiss" software button in the top right corner, in case Apple Pay is triggered accidentally? Or keep NFC from working when Airplane mode is enabled?"
  • Could the Chip Card Transition Lead to More Online and Small-Merchant Fraud? - n>genuity - Going forward, the trick will be keeping the checkout process both easy and secure, says George Peabody, a partner at Glenbrook Partners. "The challenge is friction from a checkout point of view. If merchants are looking for security perfection, then they are going to be turning away good sales."
  • PayPal Wants You to Inject Your Username and Eat Your Password - Wall St. Journal Digits - "In an interview with The Wall Street Journal, Mr. Leblanc said that passwords were broken, and that it was time to replace the concepts and methods of username and password verification."

On the Wires:

Glenbrook's 2015 Payments Education

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!

April 13, 2015

Headline News from PaymentsNews.com - April 13, 2015

On the Web:

On the Wires:

  • InstaMed Delivers Apple Pay to Healthcare - “Approximately 20 percent of consumers have unpaid healthcare bills as a result of confusion in the payments process. This will only grow as more and more consumers continue to enroll in high deductible health plans,” said Chris Seib, CTO and Co-Founder of InstaMed. “To resolve consumer confusion and rising bad debt, the healthcare industry must deliver a simple, secure and private payment process with innovative technology, including Apple Pay."
  • YapStone Names Daniel Issen as Chief Technology Officer - “We are thrilled to have Daniel join as YapStone’s CTO. He brings impressive technology and payments experience from his roles at past companies, including Amazon, Google, PayPal and eBay, and he’ll be instrumental to our growth,” said Tom Villante, Chairman & CEO and Co-Founder of YapStone.

Glenbrook's 2015 Payments Education Update!

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!

April 08, 2015

Headline News from PaymentsNews.com - April 8, 2015

On the Web:

On the Wires:

  • Apple Pay Coming Soon to You: New Banks & Credit Unions Implement Mobile Payment Service for MasterCard Cardholders - “People are passionate about their devices and they’re ready for their connected devices to do more – including acting as a commerce device – as is evident by the positive reception and uptake of Apple Pay,” said Matt Barr, group head, U.S. Emerging Payments MasterCard. “Consumers want to be able to shop where they want, when they want and how they want – and they want to do so with the confidence that their money is safe and secure no matter how they choose to pay. Issuers are delivering on this by enabling their cards within emerging payment platforms like Apple Pay that deliver consumer choice.”
  • U.S. Bank Offers Prepaid Card Services for the American Red Cross - “Our prepaid card conversion to U.S. Bank will enable the American Red Cross to leverage technology in new ways,” said Steve Casey, corporate treasurer of the American Red Cross. “Most importantly, this new card technology will help the Red Cross deliver its mission more efficiently in communities across the country.”
  • Western Union Enables Skype Customers to Top up at Locations across the U.S. - Western Union’s Odilon Almeida, President, Americas and European Union, said, “The relationship is a logical one, as both Western Union and Skype have a mission to connect people when they are apart. “Western Union is optimizing its money transfer system to link cash and digital for money movement and payments across the globe. We are driving our innovation on the back of what our customers want. Skype is a classic example; where customers can enjoy full digital access with a walk-in payment option,” he said.

Glenbrook's 2015 Payments Education Update!

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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