On the Web
- Financial services start-up Square files for IPO - CNBC - Here's Square's S-1 filing with the SEC.
- Netflix is blaming slow US growth on the switch to chip-based credit cards - Quartz - "As credit card companies send new cards to their customers, some have been issuing new numbers, as well. And if people forget to update their credit card number with Netflix, they can’t pay their bill and become what Hastings called “involuntary churn.”"
- Capital One First U.S. Bank to Add Visa Token Service to its Wallet - Visa - "We’re excited that, as they launch their new mobile wallet app, Capital One Wallet, Capital One is utilizing the Visa Token Service (VTS), which turns consumers’ sensitive payment account information found on plastic cards, such as a 16-digit number, into what we call a “token.”"
- The Ways Americans Pay for Things Are Woefully Out of Date - Harvard Business Review (Jordan Lampe) - "While newer payment methods such as PayPal, Apple Pay, Square, and others have improved consumer options and payment experiences, they fail to address the underlying issues of a 45-year old system that is not able to keep up with the demand of the 21st century."
- Worldpay Shares Rise 6 Percent After I.P.O. in London - New York Times - "The company, which is owned by the private equity firms Advent International and Bain Capital, priced its offering at 240 pence, or about $3.68 a share. That valued the company at £4.8 billion."
- Loan Platform Kabbage Raises $135M At A $1B Valuation, Grows Credit Line to $900M - TechCrunch - "The startup based out of Atlanta has raised a Series E of $135 million, and expanded its credit facility — the money it has on hand to fulfill loans — to $900 million."
On the Wires
- Square files registration statement for proposed initial public offering
- Capital One Wallet Gets Contactless Payment Capability Leveraging MasterCard Digital Enablement Service (MDES) - "Capital One will use NFC enabled Android phones to transmit a secure payment token to the point of sale. Android device users with NFC-enabled devices running v4.4 (Kit Kat) or higher, can now use the Capital One Wallet app to pay for goods and services directly at any contactless acceptance point of sale."
- MasterCard Enables Corporate Card Use in All Digital Wallets - “Digitizing commercial payments will help make business travel even more convenient without sacrificing any of the core controls and value,” said Sachin Mehra, executive vice president of Global Commercial Products, MasterCard. “We’re committed to ensuring all MasterCard cardholders can use their cards when, where and how they want in a simple and secure manner.”
Glenbrook's 2015 Payments Education
- Our next Payments Boot Camp session is scheduled for October 13-14 in Palo Alto, California followed by a one-day Insight Workshop on October 15 on the topic of Global Payments.
- If you have questions about our payments education program, please contact Russ Jones for more information.
Updates from Glenbrook:
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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: firstname.lastname@example.org!