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Bank of America

Welcome to the News View for "Bank of America".

Here, on these archive pages, you'll find all of the articles on Payments News for Bank of America 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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June 20, 2016

Headline News from PaymentsNews.com - June 20, 2016

Headline News is brought to you by RS Software. To learn more about why RS Software is the choice for leading payments companies around the world, click here!

ON THE WEB

ON THE WIRES

  • New Costco Anywhere Visa Card by Citi Offers Cash Back Rewards on Every Purchase - “We have a strong relationship with our members and it’s important that we’re rewarding their loyalty to us,” said Craig Jelinek, CEO and President, Costco. “Our new co-brand credit card agreement with Citi on the Visa network enables us to offer significant value and benefits for our members across 494 locations in the U.S. and Puerto Rico.”
  • That familiar ring? It’s your mobile phone, not your wedding band - "“We saw consumers really step up their use of digital banking tools – especially mobile apps – in the last year,” said Donna Vieira, Chief Marketing Officer of Consumer Banking at Chase. “We continue to enhance our digital banking services to let customers bank how, when and where they want.”"
  • Elavon Supports Payments Innovation with Apple Pay Expansion in Canada - "Elavon is among the first payment processing companies to offer Apple Pay to Canadian businesses, and provides support for in-person payments, as well as in-app purchases for Interac®, Visa®, MasterCard® and American Express®."
  • Dragonfly Fintech Selected to Implement Payment Solution - "It is about transforming the money remittance space and repositioning the service as a platform business allowing near frictionless participation," said Lon Wong, CEO, Dragonfly Fintech.
  • Blockchain Technology: Disruptive Forces in Financial Services, According to IDC - James Wester, research director at IDC Financial Insights and author of the report, said, "Blockchain has emerged during a time of incredible change in the payment space. Even though banks and technology vendors are grappling with many issues right now, they should pay particular attention to blockchain. It represents a complete shift in the way electronic transactions have been handled for decades, and participants in the market should begin thinking about how they will adapt to it."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - 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!

June 03, 2016

Headline News from PaymentsNews.com - June 3, 2016

ON THE WEB

ON THE WIRES

  • European Commission Approves Visa Inc.’s Acquisition of Visa Europe - "Visa has now received all regulatory approvals required for the acquisition. The transaction has already been cleared by both the Jersey and the Turkish competition authorities. The transaction is expected to close in Visa Inc.’s fiscal third quarter of 2016."
  • Retailers Ask FTC to Investigate Credit Card Industry’s PCI Security Group for Antitrust Concerns - "In a 19-page white paper submitted to the FTC, NRF said the card companies use their market power to “unfairly leverage their brands and proprietary technology through webs of closely controlled interdependent bodies and compliance regimes” including the council."
  • Amazon Alexa Continues to Get Smarter: Over 1,000 Third-Party Skills Now Available - “At Capital One, we’re continually exploring new ways to harness technology to help our customers confidently and securely manage their money, wherever they are,” said Ken Dodelin, Vice President of Digital Product Management, Capital One. “Through the Alexa Skills Kit open APIs and developer tools, we were able to easily give our customers direct voice access to their accounts so they could hear how much money they have in their accounts, make credit card payments and stay on top of recent account changes."
  • Apple Pay Coming to Grubhub's Customers - "We're always looking for ways to make it easier for our diners to find and order the type of food they want, when they want it, from their favorite local restaurants," said Sudev Balakrishnan, SVP of Product for Grubhub. "We're thrilled to bring the ease of use of Apple Pay to our diners. It offers another quick and convenient way for them to pay for their meals, whether they're at home or on the go."

PAYMENTS IN PORTLAND

  • Join us for the next Payments in Portland (Oregon) event being held on Tuesday, June 7th. Details here!

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - 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!

May 03, 2016

Headline News from PaymentsNews.com - May 3, 2016

ON THE WEB

ON THE WIRES

  • Deloitte Continues Growing Major Blockchain Initiative, Teaming With Five Technology Companies and Announcing 20 Prototypes in Development - "Blockchain is proving to be a major disruptive force in financial services," said Joe Guastella, a principal with Deloitte Consulting LLP, and U.S. and global leader of the financial services practice. "The industry prototypes and pilots have shown this, and we continue to focus on helping our clients to make blockchain a reality for their businesses."
  • Zooz Closes $24m Investment Round - "We would like to thank our investors for supporting our vision for innovation in the payments sector," said Oren Levy, CEO of Zooz. "Retailers now understand the need for smart payment platforms that can help them expand into new markets quickly and cost-effectively, and that is where we excel."
  • RBC makes sending money simple, instant and now free - “Offering free e-Transfers supports our commitment to helping our clients seamlessly and quickly send money how they want and when they want,” said Linda Mantia, executive vice-president, Digital, Payments and Cards at RBC. “As clients embrace new technologies and increase their use of mobile we are always looking for ways to provide them with added value and convenience."
  • Bank of America Survey Finds Small Business Owners’ Confidence Down While Election-Year Anxiety Rises - “Our survey suggests that uncertainty over the upcoming elections is making small business owners less optimistic about their businesses and the economy than in recent years,” said Robb Hilson, Small Business executive, Bank of America. “As a result, they’re taking a wait-and-see approach before making major investments in the growth of their businesses."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming up in May - both in Palo Alto, CA - 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!

April 15, 2016

Headline News from PaymentsNews.com - April 15, 2016

ON THE WEB

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming up in May - both in Palo Alto, CA - 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!

March 31, 2016

Headline News from PaymentsNews.com - March 31, 2016

ON THE WEB

  • Inside the $5 Billion Company That Will Launch Your Business - Inc. (Maria Aspan) - "Since 2010, Collison and his older brother, Stripe co-founder and CEO Patrick Collison, have spent almost every waking moment making it as fast and easy as possible to handle other people's money online."
  • What Starbucks Can Teach Apple and Facebook - Bloomberg Gadfly - "Getting one out of every five orders through its smartphone app is an impressive feat for Starbucks, considering mobile payments accounted for just 2.1 percent of U.S. retail sales last year..."
  • Introducing Braintree Auth - Braintree Blog - "Braintree Auth enables Braintree merchants to more easily integrate with Braintree partners by authorizing them to perform services on their behalf such as -- allowing for actions such as enabling payments on an e-commerce store or accessing transaction data for an analytics or accounting service."
  • Google Wallet is shutting down its debit card - Quartz (Ian Kar) - "Amid a companywide effort to cull money-losing operations, Google is shutting down its Google Wallet debit card, the company confirmed in a blog post today."
  • Immediate Funds Availability Resonates With Many Small Businesses - "Financial institutions that provide immediate funds availability stand to benefit in several key ways, including improved share of wallet and differentiation for small business customers."
  • Marijuana Companies Stuck Doing Business the Old-Fashioned Way, in Cash - Wall St. Journal - "Two years after Colorado fully legalized the sale of marijuana, most banks here still don’t offer services to the businesses involved."

ON THE WIRES

  • Walmart’s Family of Cards Makes it as Easy as 3-2-1 to Manage Finances for Less - “The Walmart MoneyCard and Walmart Credit Card have proven to be valuable tools in our customers’ wallets, helping them manage their money for less. The new 3-2-1 Save program simplifies and strengthens the card proposition for more than 10 million cardholders and helps add even more value to their Walmart purchases no matter how they choose to shop with us.”
  • More Than 100 Amazon Dash Buttons Now Available, Giving Prime Members the Easiest Way to Order Thousands of Products - "Members can now choose from over 100 Dash Buttons representing top-name brands across dozens of retail categories and thousands of products. With Dash Buttons, Prime members never have to worry about running out of everyday household essentials from coffee to condoms, and snacks to soda. When a customer sees supplies running low, they simply press a Dash Button to order."
  • American Express Launches Two New Co-Branded Cards with Charles Schwab - "Designed to meet the different needs of a diverse customer base, the cards include a credit card and a premium charge card, both with exceptional rewards, benefits and services, including unlimited cash-back features."
  • Bank of America Makes Online Payments Seamless With Visa Checkout - "Bank of America announced today that it will pre-select customers’ eligible Visa cards for enrollment in Visa Checkout directly from Online Banking. Bank of America is one of the first banks to integrate its cards into Visa Checkout and provide seamless enrollment directly from its site, eliminating added steps and making it easier than ever for customers to shop online, on any device."
  • CARE Makes Donating More Convenient with Popmoney - "Accepting donations via Popmoney will allow us to connect with more potential donors through the giving channels they prefer," said Tolli Love, vice president of fundraising and marketing, CARE USA. "We will also be able to reduce the costs associated with processing donations, which means more money will go to fight the impact of poverty around the world."
  • U.S. Bank Offers Customers Touch ID for More Convenient Mobile Banking - “We have been looking at ways to use biometrics such as voice and fingerprint to authenticate identification for several years,” said Gareth Gaston, executive vice president and head of omnichannel banking at U.S. Bank.
  • Microsoft outlines intelligence vision and announces new innovations for Windows 10 - "Wednesday, Microsoft announced new additions to the Cortana Intelligence Suite, both in preview. The first, Microsoft Cognitive Services, is a collection of intelligence APIs that allows systems to see, hear, speak, understand and interpret our needs using natural methods of communication. The second, the Microsoft Bot Framework, can be used by developers — programming in any language — to build intelligent bots that enable customers to chat using natural language..."
  • GE Capital Files Request for Rescission of Status as a Systemically Important Financial Institution - "The filing demonstrates that GE Capital has substantially reduced its risk profile and is significantly less interconnected to the financial system, and therefore does not pose any conceivable threat to U.S. financial stability."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming up in early April - both in New York City - 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!

March 09, 2016

Headline News from PaymentsNews.com - March 9, 2016

ON THE WEB

ON THE WIRES

  • TSYS Appoints Pamela Joseph President and COO - “I have known and done business with TSYS for more than twenty years and am thrilled to be joining the team. TSYS clearly has best in class technology platforms and a blue chip customer roster. I look forward to driving additional client and partner benefits through product innovation and service enhancements,” commented Joseph.
  • Early Warning Launches Real-Time P2P Payments with Bank of America, U.S. Bank - “Bank of America is committed to being a leader in payments and making it easier than ever for our clients to manage their finances,” said Thong Nguyen, president of retail banking at Bank of America. “We’re focused on creating a simple, straightforward person-to-person payments experience that lets our customers pay anyone with a couple of easy, intuitive steps.”
  • UnionPay International Accelerates Mobile QuickPass Expansion Overseas--180,000 POS terminals ready - "Nearly 180,000 POS terminals in Hong Kong, Macao, Taiwan, South Korea, Australia, New Zealand, Singapore accept UnionPay chip cards with "QuickPass" signage and various mobile QuickPass-enabled products. The overseas transaction volume of UnionPay QuickPass grew 8 times in 2015, and is growing rapidly this year."
  • Leading UK Online Retailer Shop Direct Uses FICO Technology to Help Prevent Fraud - "As the UK's second-largest pure-play online retailer, we're protecting not only our revenues and our customers but also our brands," said Neil Chandler, Shop Direct's CEO for Financial Services. "We have a very successful partnership with FICO for fraud protection, customer management and decision optimization. FICO analytics and tools are exactly what we need to protect our customers."
  • Chargebacks911: New Technologies Fuelling Rise In Customer Chargebacks - “The pressure on banks to resolve disputes faster is causing an imbalance in an industry that is almost always favourable to the consumer. 50% of cardholders who file a dispute will do it again within 90 days. This essentially means that issuers and cardholders are being rewarded for initiating illegitimate chargebacks, with processors ultimately penalised along with their merchants.”
  • FTC Action Leads to Court Orders Against Scheme That Charged Millions of Dollars to Consumers' Bank and Credit Card Accounts Without Their Consent - “These defendants bought sensitive personal information from data brokers and used it to steal people’s money,” said Jessica Rich, Director of the FTC’s Bureau of Consumer Protection. “Misusing sensitive data causes real harm to consumers, and I’m pleased that the court banned the defendants from this conduct.”

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming up in early April - both in New York City - 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!

March 01, 2016

Headline News from PaymentsNews.com - March 1, 2016

ON THE WEB

  • Reflections: Back to the Future - PaymentsViews.com (Scott Loftesness) - "Today, Glenbrook celebrates its 15th birthday. It’s been quite a journey – an amazing one in so many ways – yet it also sometimes feels like we’re still on Day One! There’s so much happening in payments – and, more broadly, in commerce, financial inclusion, and crypto currencies!"
  • How the Shift from Swiping to Inserting Cards Will Accelerate Mobile Payments - AdvertisingAge - "I tested out my theory with a local clerk at my favorite retailer who confirmed he is seeing an uptick in mobile payments because it is easier than waiting for the insert process."
  • Experian: E-commerce Attack Rates - 2015 E-commerce Attack Rates by State - "Experian analyzed e-commerce fraud attack rates for all of 2015. The map charts e-commerce attack rates (by basis points) for the United States by both shipping and billing locations."
  • BAML prepping blockchain-powered trade finance test - Financial News - “A lot of the benefits of blockchain are still being conceived. As we move into live prototyping, we will aim to prove out the business case."
  • A Better Way to Control the Banks - New York Times - "Even so, the capital requirements are not strong enough, in part because they do not require banks to fully account for potential losses from the trading of derivatives, a multitrillion-dollar activity."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming up in early April - both in New York City - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

December 18, 2015

Headline News from PaymentsNews.com - December 18, 2015

On the Web

On the Wires

  • Apple & China UnionPay to Bring Apple Pay to China - “Apple Pay has revolutionized the way millions of people pay every day with their iPhone, Apple Watch and iPad,” said Eddy Cue, Apple’s senior vice president of Internet Software and Services. “China is an extremely important market for Apple and with China UnionPay and support from 15 of China’s leading banks, users will soon have a convenient, private and secure payment experience.”
  • CPA Releases Multi-Year Data on Canadian Payment Methods and Trends - "The research provides important insights for the industry and the Canadian Payments Association as we look to modernize the country's clearing and settlement systems," said Gerry Gaetz, President and CEO of the CPA. "While traditional payments clearly continue to fill a vital role, the data shows an accelerating shift to new channels for electronic payments."

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

December 10, 2015

Headline News from PaymentsNews.com - December 10, 2015

On the Web

  • Walmart Prepares to Enter Mobile Payments Business - New York Times - "Based on QR code technology, Walmart’s new payment system is meant to allow for a smoother trek through checkout lines, and to bridge the retailer’s e-commerce and in-store shopping experience."
  • Wal-Mart to Offer Smartphone Payments in Stores - Wall St. Journal - "The retail behemoth is adding a feature to its existing mobile app so consumers can pay at the register with any payment information stored in their Walmart.com account, including gift cards, debit cards or credit cards."
  • Edgecoin: Our Internal Blockchain for Founders - Medium (KPCB Edge) - "Today, we’re announcing Edgecoin — a private, permissioned blockchain we use as a ledger of record for founders. We started testing Edgecoin in early 2015 with founders in our portfolio and are now announcing it publicly as we begin scaling up the base of people using Edgecoin."
  • Commonwealth Bank says blockchain may transform trade finance, share trading - Sydney Morning Herald - "Blockchain technology could transform trade financing, share trading and many other parts of banking and the broader economy, says the chief information officer of the Commonwealth Bank of Australia, David Whiteing."

On the Wires

  • Walmart Introduces Walmart Pay - "”The Walmart app was built to make shopping faster and easier,” said Neil Ashe, president and CEO of Walmart Global eCommerce. “Walmart Pay is the latest example – and a powerful addition – of how we are transforming the shopping experience by seamlessly connecting online, mobile and stores for the 140 million customers who shop with us weekly.”"
  • VocaLink and The Clearing House sign a groundbreaking deal to deliver national real-time payment services in the U.S. - James Aramanda, President and Chief Executive Officer at The Clearing House said: “Finalizing this partnership with VocaLink represents a significant milestone in our effort to make ubiquitous real-time payments a reality in the U.S. Once completed, customers will pay or receive money in real-time from any financial institution, and with its innovative extensible design the system will be built to provide the basis for payment solutions currently unimagined."
  • Samsung Pay Makes It Easy to Purchase, Store, Use and Share Gift Cards Directly from Your Phone - "With the support of more than 50 major retail gift cards and the launch of the in-app gift card store, Samsung Pay is bringing consumers an easier way to use gift cards,” said Injong Rhee, EVP of Samsung Electronics, Global Head of Samsung Pay.
  • SWIFT announces global payments innovation initiative - Gottfried Leibbrandt, CEO, SWIFT said: "Correspondent banking serves the industry with millions of secure cross-border payments day in, day out; with this initiative we are building on those strengths, enabling banks to provide distinctive cross-border payments services and providing real benefits to end customers. This is a critical step in cross-border payments innovation."
  • Bank of America’s Year-End Millennial Snapshot Reveals the Great Recession and Family Experiences Impact Financial Attitudes - “The events taking place when millennials were coming of age are visibly impacting their financial decisions and behaviors. This will be especially apparent as they become the money managers for their households,” said John Jordan, Client Experience and Programs executive for Preferred and Small Business Banking at Bank of America.

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!

October 13, 2015

Headline News from PaymentsNews.com - October 13, 2015

On the Web

On the Wires

  • PayPal Announces “Return Shipping on Us” in the U.S. to Make Online Shopping Easier This Holiday Season - "Today, PayPal announced the expansion of Return Shipping on Us, a service that refunds return shipping costs to consumers on eligible online purchases using PayPal from around the globe. The service will now be available to PayPal users in the United States, in addition to the nearly 40 markets in which it already exists."
  • IDology Announces Strategic Equity Investment in Payfone and Launch of ExpectID Mobile to Enhance Mobile Security and Ease of Use - "IDology is an excellent strategic partner for Payfone as we continue to develop solutions that help businesses fight mobile fraud," said Rodger Desai, chief executive officer of Payfone. "Payfone already exclusively serves as a critical ingredient to the bank consortium that helps traditional banks and FSOs fight fraud, with this new partnership, we are excited to bring capabilities to additional markets such alternative finance and payment gateways, healthcare, medical and retail through IDology."
  • Synchrony Financial Extends PayPal and eBay Consumer Credit Card Programs - “We are pleased to deepen our relationship with these dynamic businesses and continue to meet the evolving needs of PayPal and eBay cardholders for convenient and safe payment solutions and valuable rewards,” said Tom Quindlen, executive vice president and CEO, Retail Cards, Synchrony Financial. “PayPal is at the forefront of digital payments and we look forward to building on our decade of adding greater value and simplicity to cardholder transactions.”
  • Survey Finds Millennials Confident, Yet Chronically Stressed About Money - "A new Bank of America/USA TODAY Better Money Habits Millennial Report released today finds that while 84 percent of millennials are confident in their ability to manage their finances, 41 percent are “chronically stressed” about money."

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!

September 21, 2015

Headline News from PaymentsNews.com - September 21, 2015

On the Web:

  • Bank of America Files Patent for Cryptocurrency Wire Transfer System - CoinDesk - "The patent, filed on 17th March, 2014, and published 17th September, seeks to protect a system by which electronic funds could be sent between customer accounts using the underlying blockchain of a given cryptocurrency as the rails for payment."
  • First Data Buys Spree Commerce To Move Into Open Source Payments Technology - TechCrunch - "Prior to this, Spree had raised $6.5 million from investors that include AOL (parent of TechCrunch), Thrive, True Ventures, Vegas Tech Fund and others."
  • Inside Target Corp., Days After 2013 Breach - Krebs on Security - "The results of that confidential investigation — until now never publicly revealed — confirm what pundits have long suspected: Once inside Target’s network, there was nothing to stop attackers from gaining direct and complete access to every single cash register in every Target store."
  • Visa shelves mobile payment venture in India - Times of India - "The company Movida India, the joint venture that Visa had formed five years ago in partnership with Monitise Plc UK, has shut shop and Naushad Contractor, head of the 50:50 JV, has quit, three persons aware of the development told ET."

On the Wires:

  • Costco Extends Partnership with Elavon; Enhances Payment Processing Offerings to Business Customers - Guy Harris, Elavon’s North America president stated, “The renewal of this relationship is a natural fit. Costco’s steadfast focus on creating quality solutions for its members and Elavon’s commitment to premier customer service will continue to provide tangible benefits for members, including saving the average member hundreds of dollars annually.”
  • New ACI Worldwide Survey: 6 out 10 U.S. Consumers with Credit Cards are Not Ready for EMV - “The survey data validates the trends we have seen over the past year; with less than a month to go until the EMV liability shift, a staggering number of consumers are neither educated on nor aware of EMV; they don’t know why they have new chip-enabled cards,” said Mike Braatz, senior vice president, Payments Risk Management, ACI Worldwide. “And if consumers are unaware, the implications for retailers come October and throughout the holiday shopping season could be major, especially as retailers prepare for this new payment experience."
  • Card1 Debuts Universal Card Technology Connecting Conventional Payment Card to Digital Wallet Platform - "The Card1 card is a conventional, plastic payment card and requires no power or charging to use. The Card1 companion mobile wallet app enables consumers to easily add payment cards to enabled digital wallets using a mobile phone camera and secure payments made with a Card1 card."
  • ShopKeep Acquires Ambur POS - "Ambur provides an excellent point of sale app that was created by a restaurant owner, for restaurant owners.” said Norm Merritt, ShopKeep’s President and CEO. “This acquisition allows ShopKeep to further our reach into the restaurant industry and expand our overall market share amongst independent merchants.”
  • Jeff Jones Named President of U.S. Bank Corporate Payment Systems - “Jeff’s management acumen, demonstrated over many years at the bank, makes him the ideal choice to take the reins of our corporate payments business and position it for robust growth,” said U.S. Bank Vice Chairman for Payment Services Shailesh Kotwal.

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!

September 15, 2015

Headline News from PaymentsNews.com - September 15, 2015

On the Web:

  • India – A Good Approach for Financial Inclusion - PaymentsViews.com (Carol Coye Benson) - "My progressive friends in the U.S. are appalled by this central, government-controlled identity system. They see only threats to individual control over identity. I recognize this as a challenge, and I doubt that this type of system will find a home any time soon in the developed world."
  • Global Investment Banks Back Blockchain Initiative - CoinDesk - "Nine major investment banks including J.P. Morgan Chase and Goldman Sachs have partnered with distributed ledger startup R3CEV."

On the Wires:

  • Visa Introduces EMV Chip-based Biometrics - “There is increasing demand for biometrics as a more convenient and secure alternative to signatures or PINs, especially as biometrics technologies have become more reliable and available,” said Mark Nelsen, senior vice president of Risk Products and Business Intelligence, Visa Inc. “However, to support wide adoption, it is equally important that solutions are scalable and based on open standards. Building on the EMV chip standard provides a common, interoperable foundation, as well as encourages innovation in cutting-edge biometric solutions.”
  • Bank of America Introduces Fingerprint and Touch ID Sign-in for Its Mobile Banking App - The new updates include the introduction of fingerprint and Touch ID sign-in, in addition to the launch of an Apple Watch mobile banking app, streamlined “Accounts Overview” page and new Security Center for more than 31 million active digital banking customers.
  • SecureKey Ushers in New Era of Convenience, Security and Privacy for Accessing Online Services in the United States - “SecureKey’s consumer-oriented ID network enables stronger digital identities, eliminating many of the challenges currently associated with accessing online services,” said Dominic Venturo, EVP and Chief Innovation Officer at U.S. Bank. “We look forward to collaborating with SecureKey to grow this ecosystem of trusted credentials for the benefit of our customers nationwide.”

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 03, 2015

Headline News from PaymentsNews.com - August 3, 2015

On the Web:

  • The extraordinary reinvention of Square - Fortune - "If sources close to the company are correct, Square’s revenue is growing at least 50% year over year."
  • In Papua New Guinea, Mobile Banking Brings Savings and Safety to Farmers - IFC - "Farmers can now get paid electronically – through their mobile phones. It’s cheaper and faster. The mobile banking service, pioneered by Bank South Pacific’s subsidiary, BSP Rural, allows buyers to transfer payments to growers’ bank accounts via text messages on their mobile phones."
  • The Mt.Gox Arrest Is The End Of The First Age Of Bitcoin - TechCrunch - "I’m far more optimistic these days in regard to bitcoin. While it is neither a silver bullet or a fiat currency replacement, it is a way to micro-pay artists for their work as much as it’s a way to send money between unbanked families."
  • Safaricom won’t let rivals share M-Pesa - Mediamax - "Safaricom has maintained it will not allow its mobile money platform, M-Pesa, to be spun off from the parent company, citing security risks for subscribers due to lack of clear guidelines and standards on cross-network cash transfers."
  • How the W3C is trying to standardize payments on the internet - The Next Web - "The organization in charge of online standards, the World Wide Web Consortium (or W3C), is facilitating the work of a so-called Web Payments Interest Group, a workgroup currently consisting of almost a hundred people from 44 companies and organizations. Since early 2014, the group has been actively working on creating a universal specification of how online payments should be described and conducted."
  • Friendly Fraud: Nothing to Smile About (Part 2) - Retail Payments Risk Forum - "A transaction that could be classified as friendly fraud might actually be one the customer just forget about, or one involving a family member using the customer's card without permission, or one with the customer actually not receiving the goods."

On the Wires:

  • Mercury Launches “Security Pays” Initiative to Improve Payments Security - "Mercury Payment Systems ... announced today its Security Pays initiative, designed to educate payments partners and business owners on how to protect their businesses from the multitude of security threats facing them today. Mercury is working to drive adoption of security standards, protocols and products across the industry to help payments partners and their business customers protect themselves."

  • Early Warning Improves Counterfeit Detection for Financial Institutions - "Early Warning’s Deposit Chek Service helps financial institutions of any size expedite funds availability decisions or accelerate preventive actions on deposited items based on whether an account is returning transactions; whether the payer’s account is in good standing; whether it is closed, or has insufficient funds; and if a stop-payment has been placed on an item."
  • BofA Merrill Achieves Top Placements in Nilson Rankings For Commercial Card - “It’s an exciting time to be a leader in the global payments area, where digital innovations and new mobile offerings are being introduced on an increasingly common basis,” said Ather Williams, head of Global Transaction Services at Bank of America Merrill Lynch. “Our clients are constantly looking for increased efficiency and improved analytics. We look forward to working with them on how together we can capitalize on these innovations to further their payment objectives and working capital.”
  • “Mr. NFC” Named Chairman of YellowPepper Board of Directors - "YellowPepper, Latin America’s leading mobile payment and banking company, today announced that Mohammad Khan, former president and founder of ViVOtech, a pioneering NFC software and hardware company that paved the way for mobile payments, has been named Chairman of YellowPepper Board of Directors."

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 16, 2015

Headline News from PaymentsNews.com - June 16, 2015

On the Web:

  • Coming Soon!

On the Wires:

  • First Data Launches Clover® Mini, The Future of Payment Terminals - “Just as the smartphone changed the lives of billions of people around the world, Clover is revolutionizing the way business owners run their companies,” said Guy Chiarello, president of First Data. “With its elegant design, ease of use, and ability to customize the user experience with the growing Clover® App Market, Clover Mini is the comprehensive solution that business owners need.”
  • Bank of America Merchant Services Launches Clover® Mini™ Point-of-Sale System for Small Businesses - “The launch of Clover Mini is a response to our small business clients, who tell us they want streamlined capability and innovation,” said Tim Tynan, CEO, Bank of America Merchant Services. “The built-in layers of security protection also give business owners peace of mind, so they can focus on what matters most, their customers and growing their business.”
  • NFC Forum Publishes New and Updated Technical Specifications - "Available from the NFC Forum website, the specifications deliver new capabilities that support improved RF communication, device identification, greater security in peer-to-peer (P2P) messaging, and new RF Interface extensions for optimized and scalable P2P and memory tag communications."
  • Discover to Close Home Loans Business - "The business is not projected to meet our financial expectations due to ongoing challenges to our home loans operating model, so we made the difficult decision to exit," said Carlos Minetti, president of consumer banking for Discover.

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!

February 06, 2015

Headline News from PaymentsNews.com - February 6, 2015

On the Web:

  • Post Paytm stake buy, Ant Financial has no plan to invest in other Indian cos - FirstPost Business - "This deal is being seen as Alibaba's entry into India, with One97's Vijay Shekhar Sharma telling us earlier that Jack Ma was completely involved in discussions leading up to this transaction."
  • Palantir Buys Fancy That To Add Retail, Shopping Data To Its Analytics Platform - TechCrunch - "Among its features, Fancy That optimizes store operations, including clearing inventories, managing discounts, and understanding customers’ retail habits."
  • Feature Friday: Digital Money Accounting - A VC (Fred Wilson) - "I want Mint.com for digital money services, starting with the Venmo and Coinbase mobile apps. That would be super helpful for me and, I suspect, for everyone using these digital money services."
  • The Race to Replace Bitcoin - Observer - "There’s an epic battle for the future of money, and the outcome is murky. It might have several winners. It might have no winners. But one thing is crystal clear: The most exciting battle in this long war is taking place in San Francisco, and the town isn’t big enough for both Ripple Labs and Stellar, two of the contenders hoping to replace not just Bitcoin but the almighty dollar."
  • Bitcoin continues to evolve into a worse version of the current system - FT Alphaville - "The delay, we are told, came about because the low price of bitcoin caused a breakdown in the so-called “block creation” process, which underpins how the technology clears transactions without the need of a trusted third party such as a bank."
  • The first country to roll out its own digital cash - CNBC - "In 2000, Ecuador moved to ditch its stumbling currency for the U.S. dollar. Now more than 15 years later, the South American country is revamping its monetary system again—using digital currencies."
  • Lessons from an erroneous fraud alert - CreditCards.com - "Before my face got too red, I quickly pulled out another credit card, alas with no rewards, and paid for our food."

On the Wires:

  • UK Consumers turn to contactless as usage surges - "Contactless has now firmly stepped into the mainstream. With usage soaring every month last year, we’ve seen people flocking to contactless payments as they switch away from cash. For retailers, contactless means quicker queues at the tills and greater convenience for their customers.”
  • Intuit Working With State Governments to Solve Emerging Tax Fraud Problem - "During this tax season, Intuit and some states have seen an increase in suspicious filings and attempts by criminals to use stolen identity information to file fraudulent state tax returns and claim tax refunds."

Glenbrook's 2015 Payments Education Schedule Now Available!

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

January 15, 2015

Headline News from PaymentsNews.com - January 15, 2015

On the Web:

On the Wires:

Glenbrook's 2015 Payments Education Schedule Now Available!

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

January 12, 2015

Headline News from PaymentsNews.com - January 12, 2015

On the Web:

  • MasterCard Reaches Deal with Russia - Wall St. Journal - "MasterCard and Russia’s national payment system agreed on Dec. 30 to gradually move the processing of the U.S. company’s transactions within Russia under the roof of its Russian counterpart, the central bank said."
  • Alibaba Pays to Play in India - Wall St. Journal - "The Indian company’s prize asset is Paytm, a mobile-payments platform, which also runs an online marketplace in India that matches merchants to shoppers, similar to Alibaba’s business model in China."
  • Level Money has joined Capital One - Level Money Blog - "Much younger and nimbler than any other top bank, Capital One is a founder-led company on a mission to transform the way banking is done. Taking a technology-based, consumer-centric focus to banking is core to what Capital One does, and on that team we found a deep passion for solving old problems in a new way."
  • PayPal Credit Expansion Now Lets Merchants Set Terms, Including Option For Interest-Free Payments - TechCrunch - "PayPal Credit is expanding its support for monthly payments with an option for retailers that allows them to decide on the number of months and interest rates that work best for their customers."
  • Why Tort Liability Won’t Produce Good Cybersecurity - Steptoe Cyberblog (Stewart Baker) - "In the end I doubt that liabilities to issuing banks will drive much cybersecurity either, not because the claims are low — they’re more likely to be in the $50 per card range — but because establishing liability will not be all that easy and because things like tokenization will likely prove much cheaper than improving security.)"
  • SWIFT appoints new Chief Technology and Chief Operations Officers - SWIFT - "SWIFT announces the appointment of Craig Young as Chief Technology Officer and Marcel Bronmans as Chief Operations Officer. Both Young and Bronmans will sit on SWIFT's Executive Committee and report directly to CEO Gottfried Leibbrandt."

On the Wires:

  • Heartland First to Offer Comprehensive Merchant Breach Warranty - "Heartland’s breach warranty is offered at no charge to its Heartland Secure™ merchants in the first year and can be extended for $8.33 per month per card-entry device. To be covered under the warranty, a merchant must have a Heartland Secure-certified device and process payments through Heartland on that device."
  • Verifone Offers Merchants a Single mPOS Payment Terminal to Support All Major Smart Device Options - “The prospect of having to purchase new mPOS devices for sales associates when smartphones and tablets are upgraded has been a major inhibitor to mPOS investment among retailers,” said Mark Shockley, senior vice president of Mobile Solutions for Verifone. “Verifone’s single, modular solution will offer the ultimate in mPOS flexibility, allowing it to persist across changes in devices, even if somebody wants to make a complete switch from one OS to another.”
  • Vantiv Certifies Verifone’s Secure Commerce Architecture - “Vantiv’s certification of SCA from Verifone combined with Point-to-Point Encryption ensures many more merchants can significantly reduce their exposure to large scale payment data breaches, and further reduce the complexity associated with EMV certification,” said Rob McMillon, vice president of Product Security for Verifone.
  • Bank of America Launches National Advertising Campaign for Preferred Rewards - “When we spoke to our clients to find out what they valued most from a rewards program, they clearly said they seek everyday rewards and benefits that they would actually use,” said David Dintenfass, Global Wealth and Investment Management and Consumer Marketing executive at Bank of America.
  • NCR Unveils a New ‘Grab and Go’ Self-Checkout Solution - "Whether in the supermarket or at a convenience, department, specialty or DIY retailer, there is a large amount of checkout traffic that can be handled with this card-only, small footprint solution,” says Dusty Lutz, general manager self-checkout solutions at NCR Retail. “This technology is ideally designed for ‘grab-and-go’ convenience for driving more revenue and convenience during peak shopping hours.”
  • FreedomPay Announces PCI-Validated Point-to-Point Encryption And EMV Support Through Newly Enhanced Microsoft Azure - “The FreedomPay Commerce Platform on Azure offers customers security, scalability and access to real-time data,” said Christopher Kronenthal, Chief Technology Officer at FreedomPay. “Microsoft has enabled FreedomPay to deploy one of the industry’s most comprehensive payment security standards and transactional data services to merchants embracing a real-time retail ecosystem.”
  • BMO Launches iPad App with Integrated Access to Banking and Self-Directed Investing - "With one streamlined login, customers can easily manage their personal banking and self-directed investing with the added benefit of a personal financial management tool," said Cesar Rainusso, Vice-President, Digital Channels, BMO Financial Group.

Glenbrook's 2015 Payments Education Schedule Now Available!

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!

November 19, 2014

Headline News from PaymentsNews.com - November 19, 2014

On the Web:

  • Most People Are Only Thinking About Compliance - Bitcoin Foundation Blog (Jim Harper) - "Without prevention of real-world harms to target, banks will manage a different risk, which is the risk of regulatory action. The incentives to “de-risk” entire business lines, including digital currency, will remain strong. Risk aversion in financial services was the top threat to Bitcoin’s success identified in the study we released earlier this year."
  • United Airlines deploys iPads for airport purchases funded by miles - Mobile Commerce Daily - "In total, nearly 6,000 iPads will be stationed around the New Jersey airport’s Terminal C in a bid to elevate the airport experience with sophisticated technology, dining and design."

On the Wires:

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!

November 03, 2014

Headline News from PaymentsNews.com - November 3, 2014

On the Web:

On the Wires:

  • Consumers Can Now Use Their Barclays, Navy Federal & USAA MasterCard in Apple Pay - "Owners of the new iPhone 6, iPhone 6 Plus, iPad Air 2 and iPad mini 3 can now use their U.S. MasterCard consumer credit or debit cards from Bank of America, Capital One, Citi, Wells Fargo, Barclaycard, USAA and Navy Federal Credit Union through Apple Pay."
  • Apple Pay Now Available for U.S. Bank Customers - “We couldn’t be more pleased to see this day arrive for our customers,” said Dominic Venturo, chief innovation officer at U.S. Bank. “Providing our customers the ability to securely pay where, when and how they want is a central theme for our payments business. Enabling our customers to use Apple Pay is the perfect example of how we bring that philosophy to life.”
  • U.S. Bank FlexPerks Adds American Express-Branded Cards to Award Winning Credit Card Lineup - “Adding American Express to the family of FlexPerks Rewards credit cards is part of our FlexPerks legacy of finding new and better ways to help customers earn rewards faster with value they can recognize,” said Cliff Cook, senior vice president for U.S. Bank’s retail credit card division.
  • Elavon Delivers Apple Pay, EMV & Security Solutions - "Our investments in mobile and other innovative technologies are now paying off for our customers: when a business is trying to accommodate the consumer who wants to pay with their smart phone, and the next person in line who presents a chip-embedded EMV card, they know they can rely on us to help them make the sale with enhanced security and a great customer experience.”
  • Verifone and MasterCard Bring Card-Linked Offers to Las Vegas for Money 2020 - "Targeted offers from merchants, in this case The Hard Rock Café on the Vegas strip, the Bali Hai and Royal Links golf courses and Dream Racing at the Las Vegas Motor Speedway, are displayed to taxi passengers on VNET–Taxi TV screens integrated with Verifone payment terminals."
  • Visa Selects Bangalore as Site for New Technology Center - India is fast becoming a global technology epicenter with an incredible pool of technology talent,” said Nitin Chandel, Senior Vice President of Visa’s Developer Platform based in India.
  • TSYS Creating a More Open Technology Environment to Power Innovation - "TSYS’ strategy leverages the scale of TSYS’ mainframe and distributed systems to connect with 3rd platform technologies including mobile, cloud, big data and social technologies."
  • Ingo Money to Acquire Fuze Network, Inc. - "Fuze enables its partners to add cash to more than one billion bankcards including credit, debit and prepaid cards. For example, a consumer cashing a check at a physical location can then disburse funds directly to the cards in their wallet."
  • LoopPay Launches New Mobile Payment Product Line, Accepted At 40X More Places Than Apple Pay - "The LoopPay CardCase can be purchased today for $49.95 for the iPhone 5/5s, 6 and 6 Plus, while Android users can purchase a standalone LoopPay Card accessory that is available separately for $39.95."
  • Verifone Reinforces Mission with New Brand Voice and Identity - "The Verifone brand reflects our vision and commitment to clients, while also speaking to our continued growth and leadership as a company as we pave new paths towards the future of commerce.”
  • Ingenico Mobile Solutions Launches the First Native mPOS Tablet App with Support for All Transactions Types: Magstripe, EMV and NFC - "This new version features a completely redesigned User Interface (UI) and is the first and only native tablet application for both iOS and Android that supports all mobile payment transaction types and all acceptance methods: magstripe, NFC, EMV chip & PIN, and EMV chip & sign."
  • BofA Merrill Announces Enhancements to Global Card Capabilities for Companies and Public Sector Clients - “Improved transparency and tighter control over expenses continue to be hot topics for organizations of all sizes in every region around the world,” said Percy Batliwalla, head of Sales for GTS. “As card programs grow in efficacy and sophistication, they are becoming an increasingly powerful tool for treasury departments – providing them the granular information they need to better manage and forecast their finances.”
  • CPI Card Group Launches CPIMobile™ with Sequent - "Sequent will enable CPI to deliver to global banks and other issuers a digital issuance solution that allows them to participate in almost any mobile wallet deployment, leveraging both Secure Element (SE) and Host Card Emulation (HCE) capabilities, and to enable their own banking apps for payments."
  • CPI Launches First EMV Prepaid Cards to Canadian Market with Berkeley Payment Solutions - “The Canadian market has already successfully migrated to EMV for financial debit and credit cards, benefiting from a significant reduction in fraud,” said Steve Montross, president and CEO of CPI Card Group. “Berkeley Payment Solutions has remained at the forefront of driving continuous innovation for its customers, and now, by extending EMV for Prepaid, truly demonstrates the company’s ability to anticipate and deliver solutions to meet the needs of its customers.”

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!

October 20, 2014

Headline News from PaymentsNews.com - October 20, 2014

On the Web:

  • Apple Store app updated with Apple Pay support - iMore.com - "You can use Apple Pay both when ordering online, as well as when checking out at an Apple Store with EasyPay."
  • OpenTable adds Apple Pay support for iPhone in three US cities - iMore.com - "OpenTable, the popular restauant reservation service, has updated its iPhone app that adds Apple Pay support..."
  • Bank of England payment system crashes - Guardian - The Bank of England said it had “identified a technical issue related to some routine maintenance of the RTGS payment system and has paused settlement while we resolve it”.
  • Apple Pay Rolls Out, With Holes in System - Wall St. Journal - "Many retailers—including the nation’s largest, Wal-Mart Stores Inc. —aren’t part of Apple’s network. Only a minority have machines capable of reading the near-field communication radio signal that makes Apple Pay work."
  • Apple Pay Faces Lighter Compliance Than Paypal, Google - WSJ Risk and Compliance Journal - “If the device maker does not accept and transmit value, and just transmits encrypted card information that is used by the regular payment system to process the payment among regular participants, it wouldn’t be a money transmitter...”
  • Recurly Raises $12M To Chart the Future of Recurring Billing - Recurly Blog - "We are excited about bringing on a new set of world-class investors - Devonshire Partners and Greycroft Partners - who will add to our existing bench comprised of Polaris Partners, e.ventures, Harrison Metal and Freestyle.vc."

On the Wires:

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!

October 15, 2014

Headline News from PaymentsNews.com - October 15, 2014

On the Web:

On the Wires:

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!

October 01, 2014

Headline News from PaymentsNews.com - October 1, 2014

On the Web:

On the Wires:

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 30, 2014

Headline News from PaymentsNews.com - September 30, 2014

On the Web:

On the Wires:

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, 2014

Headline News from PaymentsNews.com - September 22, 2014

On the Web:

On the Wires:

  • Citi Launches Citi Mobile Challenge to Fuel Digital Innovation - "Citi will provide developers with a suite of tools they can use to build solutions to benefit consumers either through mobile applications or the Internet of Things. Selected participants will present their concepts at demonstration events in Miami, New York and Silicon Valley and finalists will have the chance to take their technologies into production with the support of Citi."
  • Bank of America Changes the Game With Preferred Rewards - “Preferred Rewards is the first program of its kind to offer clients benefits and rewards for everyday banking,” said Dean Athanasia, president of Preferred and Small Business Banking and co-head of Consumer Banking at Bank of America.
  • U.S. Bank Encore Rewards Program for Small Businesses Blazes New Path for Industry - “This is the first time an American bank is giving small-business customers what they deserve: an easy way to earn rewards for combining their card purchasing and processing with one company,” said Cathi Stanton, head of small business credit cards at U.S. Bank.
  • Ingenico Group further expands global partnership with Elavon - "...Elavon has now selected Ingenico Group to be a key partner in supporting its migration to EMV-based payment processing infrastructures in the U.S. In addition, it has chosen Ingenico Group to run Fanfare, Elavon’s omni-channel marketing and customer loyalty program for small-to-medium size U.S. customers."
  • First Weekend Apple iPhone Sales Top 10 Million, Set New Record - “Sales for iPhone 6 and iPhone 6 Plus exceeded our expectations for the launch weekend, and we couldn’t be happier,” said Tim Cook, Apple’s CEO. “We would like to thank all of our customers for making this our best launch ever, shattering all previous sell-through records by a large margin. While our team managed the manufacturing ramp better than ever before, we could have sold many more iPhones with greater supply and we are working hard to fill orders as quickly as possible.”
  • Synchrony Financial Launches New Brand and Advertising Campaign: Engage with Us - Margaret Keane, president and CEO of Synchrony Financial, said, “After conducting extensive research with key stakeholders, we are proud to launch a Synchrony Financial brand campaign that truly represents who we are as a company and the value proposition we offer to our stakeholders."
  • New GSMA Report Sees North America Leading Mobile Investment and Innovation in the Developed World - “Our latest Mobile Economy report reveals how the widespread deployment of 4G networks in North America is creating a virtuous circle, stimulating adoption of new mobile technologies, applications and services that are unlocking new revenue streams for operators and enriching the mobile experience for consumers.”
  • BitFury Forms Strategic Advisory Board With Technology and Venture Industry Leaders - "BitFury Group, the leading Bitcoin infrastructure provider and Bitcoin transaction processing company, formed its strategic advisory board with two key appointments: Silicon Valley investor Jonathan Teo and former UMC Chairman and CEO Dr. Jackson Hu. BitFury also brought on Bob Dykes, founder and president of Tanjarine and former CFO of VeriFone, to its board of directors."

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, 2014

Headline News from PaymentsNews.com - August 21, 2014

On the Web:

On the Wires:

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 30, 2014

Headline News from PaymentsNews.com - July 30, 2014

On the Web:

On the Wires:

  • First Data Announces Agreement to Acquire Gyft, the Leading Digital Platform that Enables Consumers to Buy, Send, Manage and Redeem Gift Cards Using Mobile Devices - “Gyft, with its mobile gifting platform, and First Data, with its global scale and distribution network, together will accelerate the growth of virtual prepaid with powerful new tools for merchants of all sizes to deepen their relationships with their customers,” said Guy Chiarello, president, First Data. “This means that the same robust toolset deployed by big box retailers will be coming soon to small- to mid-sized businesses, perfectly synched with our mission to offer innovative solutions to help our clients grow.”
  • Amazon Announces Additional US $2 Billion Investment in India - "We see huge potential in the Indian economy and for the growth of e-commerce in India. With this additional investment of US $2 billion, our team can continue to think big, innovate, and raise the bar for customers in India. At current scale and growth rates, India is on track to be our fastest country ever to a billion dollars in gross sales."
  • BitPay's New Plan: Free, Unlimited, Forever - “When we started BitPay in 2011, we saw an opportunity to finally give merchants around the world relief from interchange fees. By offering a basic plan that is free and unlimited, forever, we give merchants yet another reason to be excited about bitcoin.”
  • Bank of America Changes the Game With Preferred Rewards - “Preferred Rewards is the first program of its kind to offer clients benefits and rewards for everyday banking,” said Dean Athanasia, president of Preferred Banking at Bank of America. “It is the result of deep client research to develop and deliver a simple program that provides clients benefits and rewards they will actually use, and shows them how much we appreciate it when they choose to do more business with us.”
  • Blackhawk Network and Amazon Offer New Mobile Wallet Capabilities - "Blackhawk Network's expertise in gift card management provides our customers with access to the retailers they want and the digital experience that Amazon is committed to delivering," said Charlie Kindel, Director, Amazon Local Commerce. "Together we are helping consumers get the full value of their gift cards with the safety and convenience of storing them digitally. Instead of fearing they might lose or forget about them, they can have them on hand to use wherever and whenever they choose."
  • Heartland Payment Systems to Acquire TouchNet Information Systems, Inc. - “I am extremely pleased to announce the acquisition of TouchNet, which is not only Heartland’s largest acquisition to date, but is also an excellent complement to our existing Campus Solutions business that will immediately improve our growth profile and contribute to our bottom line,” said Robert O. Carr, chairman and CEO of Heartland Payment Systems.
  • Boku Unlocks India for Mobile Payments - “We knew early on that Qubecell had the right approach, the right people, and the right technical capacity to be a great fit with Boku,” said Jon Prideaux, CEO of Boku. “Now that our integration is complete we are providing existing Boku merchants – including top social media networks and global games companies -- with the very best access to the Indian market. Indian companies also now have access to Boku’s global network."
  • New Fiserv White Paper Outlines Immediate Mobile Payments Opportunities for Financial Institutions - "Titled “The Four Pillars of Mobile Payments: Immediate Opportunities,” the white paper outlines how a strategic approach to mobile payments starts with the services consumers are using today."

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 01, 2014

Headline News from PaymentsNews.com - July 1, 2014

On the Web:

On the Wires:

  • MasterCard and Borderfree Team Up to Bring Exclusive Savings at Top U.S. Retailers - David Chan, Senior Vice President and Group Head, Market Development, South East Asia, MasterCard, said: “In an increasingly globalized world, consumers have a growing desire for the products and brands that these international online merchants carry. Through our partnership with Borderfree, we are able to provide MasterCard cardholders savings on shipping costs and an enhanced global shopping experience that is smooth, simple and most importantly secure.”
  • 1-800-FLOWERS.COM Partners with Coinbase to Accept Bitcoin - "Beginning this fall, 1-800-FLOWERS will be adding bitcoin as a payment option across its extensive family of gifting sites, including 1-800-FLOWERS.COM, FannieMay.com, Cheryl’s.com, ThePopcornFactory.com, 1-800-Baskets.com, FruitBouquets.com, and Stockyards.com."
  • Hold the Phone: U.S. Consumers Wouldn’t Last One Day Without Access to Their Smartphone - "Almost one in two (47 percent) U.S. consumers admit they wouldn’t last a day without their smartphone, and many consider their devices more important than daily staples such as coffee and television, according to a new report released today by Bank of America. Of those who use their phones for banking, almost one-third (31 percent) say they log on at least once a day, and four out of five (82 percent) access their accounts at least once a week or more."
  • State Bank of India Launches New Digital Online and Self-Service Banking Solutions with Support from Accenture - “InTouch is the start of SBI’s Digital journey,” said S K Mishra, deputy managing director, State Bank of India. “This is our attempt to put our brand in touch with the dreams of the aspirational customer. It’s a deep rooted transformation that has three aspects: a transformation of the customer experience we deliver; introduction of device centric technology that is at the forefront of our global peers; and transformation of the behavioral model of our staff-base to be even more customer centric.”

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 23, 2014

Headline News from PaymentsNews.com - June 23, 2014

On the Web:

  • The Fed Gets Some Mojo? - PaymentsViews.com (Carol Coye Benson) - "I was delighted to hear that they believe that a new, faster-payments infrastructure may be the best option for our industry."
  • Bitcoin and Charities Were Made For Each Other, They Just Don’t Know It Yet - A VC (Fred Wilson) - "This talk brings together three of the things I have been spending most of my time on over the past year (crowdfunding, bitcoin, and philanthropy). If you want to hear me talk about the things that get me up and out of bed in the morning, come to this."
  • Exclusive: McDonald's Is Secretly Testing Its Own Order-Ahead And Payments App - Business Insider - "McDonald’s is quietly testing an order-ahead and mobile payment app at a tiny handful of its more than 14,000 U.S. locations."
  • BancSouth Wins Big - Bank Lawyer's Blog - "A recent Eighth Circuit Court of Appeals decision in favor of BankSouth bodes well for financial institutions who understand their obligations under UCC Article 4A and take those obligations seriously."
  • Card Wash: Card Breaches at Car Washes - Krebs on Security - "An investigation into a string of credit card breaches at dozens of car wash locations across the United States illustrates the challenges facing local law enforcement..."

On the Wires:

  • Bank of America Changes the Game With Preferred Rewards - “Preferred Rewards is the first program of its kind to offer clients benefits and rewards for everyday banking,” said Dean Athanasia, president of Preferred Banking at Bank of America. “It is the result of deep client research to develop and deliver a simple program that provides clients benefits and rewards they will actually use, and shows them how much we appreciate it when they choose to do more business with us.”
  • SimplyTapp Announces Self-Serve HCE Platform - "We are excited to make this exceptional offering to issuers and application developers; it is consistent the technology built into our agile and scalable platform. HCE is a new and tremendously empowering feature for card issuers, so it is important that the process of 'getting familiar with' and using the new technology be as friction free and open as possible," Doug Yeager, co-founder and CEO of SimplyTapp.
  • Housetab Mobile Application Launches in New York - "HouseTab is the only mobile payment app that provides convenient, multi-functional solutions for both payments and social networking, revolutionizing the social experience for its users."
  • American Express Names Laureen E. Seeger General Counsel - "Ms. Seeger, 52, has served as executive vice president, general counsel and chief compliance officer of McKesson since 2006."

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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