Payments News from Glenbrook Partners
Glenbrook   Book   Education   Views   Archives   Store   Advertise   About         SUBSCRIBE:

Card Fraud

Welcome to the News View for "Card Fraud".

Here, on these archive pages, you'll find all of the articles on Payments News for Card Fraud 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.

Subscribe to Payments News!

February 09, 2016

Headline News from PaymentsNews.com - February 9, 2016

GLENBROOK PAYMENTS EDUCATION EVENTS

Here's a quick reminder that we have two of our Glenbrook payments education events coming up later this month - both in Palo Alto, California - we hope to see you there!

ON THE WEB

ON THE WIRES

  • Silicon Valley Bank and MasterCard Announce the Latest Class of Commerce.Innovated. Accelerator - "We're excited to work with the next class of Commerce.Innovated.," said Reetika Grewal, head of Silicon Valley Bank's payments strategy. "The commerce and fintech sectors continue to gain momentum as startups work to balance innovation and their regulatory requirements. We love working side by side with these incredible entrepreneurs and lending our knowledge and networks to help them develop the infrastructure and operations that they need to accelerate their growth."
  • Align Commerce Announces Establishment of Payment Rail to China - "In celebration of the Chinese Lunar New Year and to mark the opening of this payments corridor, Align Commerce will ring in the Year of the Monkey with an $8 USD flat fee, including foreign exchange fees, for all export-import payments to China from the United States (U.S.) for eight days."
  • 61% of Merchants Still Store Unencrypted Payment Card Data - "The trend is encouraging in general, but there is still a long way to go," said Bill Davis, Director of Product Management at SecurityMetrics. "It surprises me that track data continues to be a problem. That's the Holy Grail for hackers."

EVENTS

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 02, 2016

Headline News from PaymentsNews.com - February 2, 2016

ON THE WEB

  • A Year of Progress: Celebrating the Anniversary of Strategies for Improving the U.S Payment System - Faster Payments Blog - "Read our February 2016 Progress Report and hear more about the Federal Reserve’s vision for the future U.S. payment system in video interviews with Esther George, President and CEO of the Federal Reserve Bank of Kansas City and executive sponsor of the payments improvement initiative, and Jerome Powell, Federal Reserve Board Governor and co-chair of the initiative’s oversight committee."
  • Cutting Off Those Recurring Charges You Forgot About - New York Times - "Once Trim performs its analysis, you get a text message with a list of all your recurring charges. You reply with “Cancel X,” and then the company takes it from there, making the request on your behalf to the service provider."
  • CIO Explainer: What Is Blockchain? - Wall St. Journal - "Blockchain remains in the experimental phase inside many large firms and there are few tested use cases, experts and analysts caution. Here’s a look at how this emerging technology works..."
  • Blythe Masters and JPMorgan trial blockchain project - FT.com - "JPMorgan appears to be taking a lead in encouraging broader, industry-wide adoption of blockchain technology..."
  • Bank Tellers, With Access to Accounts, Pose a Rising Security Risk - New York Times - "Though much of the focus on bank fraud has been on sophisticated hackers, it is the more prosaic figure of the teller behind the window who should worry depositors, according to prosecutors, government officials and security experts."

ON THE WIRES

  • MasterCard Adds to Global Public Policy Team - "MasterCard today announced the appointment of Alexander N.M. Niejelow as a senior vice president of public policy, effective February 8, 2016."
  • BlueSnap Measures Checkout Abandonment To Help Retailers Avoid Lost eCommerce Sales - “People buy from Amazon because they have a simple, one-click checkout process. Every retailer needs to provide that same experience or risk losing out. That’s the inspiration behind the Checkout Conversion Calculator – to help merchants discover and zero in on the things they must do to maximize their checkout, payments and sales conversions,” says Ralph Dangelmaier, CEO of BlueSnap.

EVENTS

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 27, 2016

Headline News from PaymentsNews.com - January 27, 2016

ON THE WEB

  • Now, pay in your favorite apps with Venmo - Venmo Blog - "When selecting a payment method within a merchant’s app (iOS-only to start), simply tap the Venmo button. Your Venmo account will be instantly connected to the app and you will be all set to pay -- without the hassle of re-entering your payment information."
  • New Boston Fed Research: Consumer Revolving Credit and Debt Over the Life Cycle and Business Cycle - Federal Reserve Bank of Boston - "This paper uses data from the Federal Reserve Bank of New York Consumer Credit Panel (CCP), which contains a 5 percent sample of every credit account in the United States from 1999 to 2014 from the credit reporting agency Equifax. It examines how changing credit availability, debt, and utilization over the business cycle and the life cycle and across individuals relate to U.S. consumers' patterns of incurring, carrying, and paying off their debts."
  • Wendy’s Probes Reports of Credit Card Breach - Krebs on Security - "Wendy’s, the nationwide chain of fast-food restaurants, says it is investigating claims of a possible credit card breach at some locations."
  • Chase to Roll Out Cardless ATMs - NBC 5 Chicago - "The new cash machines will allow customers to withdraw money by logging into their accounts through an app instead of using their ATM or debit cards."
  • Visa Europe Revenue Rises to Record Ahead of Sale to Parent - Bloomberg - “Financially, this was our most successful year ever -– and by quite some distance,” Nicolas Huss, chief executive officer of London-based Visa Europe, said Tuesday in a statement.
  • Vinny Lingham Leaves Gyft, Raises $2.75 Million for Identity Startup - CoinDesk - "The premise of the app, according to Lingham, is that customers will provide Civic with their Social Security number for safe storage in exchange for greater monitoring capabilities."

ON THE WIRES

  • PayPal Reports Strong Fourth Quarter and Full Year 2015 Results - “We exited 2015 with great momentum,” said Dan Schulman, President and CEO of PayPal. “Our strong results reflect PayPal’s progress in delivering on our strategy to drive the digital payments revolution. In the face of a slow global economy and foreign exchange headwinds, PayPal exceeded its full year revenue, earnings, and free cash flow commitments to shareholders. As money becomes digital and the world goes mobile, we see tremendous opportunity ahead to expand our leadership, transform the way people move and manage their money and deliver increased value to shareholders.”
  • Discover Financial Services Reports Fourth Quarter Net Income of $500 Million or $1.14 Per Diluted Share - "We once again delivered a solid return on equity in the fourth quarter. While we achieved record annual originations in both Student Loans and Personal Loans, card loan growth was at the low end of our target range, slower than we'd like," said David Nelms, chairman and CEO of Discover. "We are taking steps to accelerate card loan growth in 2016 while staying disciplined on credit and continuing to execute on our Payments strategy."
  • Visa Europe announces record revenues - "Visa Europe has today announced its highest ever revenues of €2.31 billion – up 25% year-on year (year to June 2015). Costs have been held flat for a fourth successive year and the organisation has returned a record €739 million to its member-shareholders in the form of rebates and joint-investment initiatives."

EVENTS

  • Payments in Portland (OR) - Join us Thursday, January 28th from 5:30-7:30 PM to hang out with your colleagues and competitors to discuss all things payments! We'll have appetizers, Oregon beer and wine. For the first time, Payments in Portland is including a short topical briefing - this month on "B2B Payments - Promise and Problems." If you have a Portland payments presence and something to say on B2B payments, let us know! RSVP HERE!
  • Real Time Payments in the US: Implications for the Payment Industry - Atlanta, GA - February 10, 2016. Glenbrook's Elizabeth McQuerry will be moderating this discussion on what "faster payments" really means, how it's been implemented in other countries, and how it may shape banking and how we pay.

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 26, 2016

Headline News from PaymentsNews.com - January 26, 2016

ON THE WEB

ON THE WIRES

EVENTS

  • Payments in Portland (OR) - Join us Thursday, January 28th from 5:30-7:30 PM to hang out with your colleagues and competitors to discuss all things payments! We'll have appetizers, Oregon beer and wine. For the first time, Payments in Portland is including a short topical briefing - this month on "B2B Payments - Promise and Problems." If you have a Portland payments presence and something to say on B2B payments, let us know! RSVP HERE!
  • Real Time Payments in the US: Implications for the Payment Industry - Atlanta, GA - February 10, 2016. Glenbrook's Elizabeth McQuerry will be moderating this discussion on what "faster payments" really means, how it's been implemented in other countries, and how it may shape banking and how we pay.

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, 2016

Headline News from PaymentsNews.com - January 15, 2016

ON THE WEB

  • Hyatt Card Breach Hit 250 Hotels in 50 Nations - Krebs on Security - "Instead of just mandating that banks and retailers shift in lockstep on a to handling chip cards, U.S. lawmakers and regulators have for years delegated (abdicated?) accountability for credit card security to a booming industry of auditors and assessors who’ve been trying to secure a technology (magnetic stripe-based cards) that is 60 years old and is about as secure as mailing your credit card number on a postcard."
  • A Bitcoin Believer’s Crisis of Faith - New York Times - "Mr. Hearn, until recently one of the most prominent leaders of the Bitcoin project, became so disillusioned that in December he sold the few hundred Bitcoins he had left and quietly took a job at a new start-up."
  • Bitcoin Is Dead, Long Live Bitcoin - A VC (Fred Wilson) - "Sometimes it takes a crisis to get everyone in a room. That’s how the federal budget has been settled for many years now. And that may be how the blocksize debate gets settled too."
  • Mobile Payment Platform Minkasu Raises $1M Seed Round - TechCrunch - "The startup’s iOS and Android app stores encrypted credit card information, does not need passwords, and lets shoppers complete transactions with one click."

ON THE WIRES

  • Verifone Expands Services Offering for Large Retailers in the U.S. and Canada with Agreement to Acquire AJB Software - “Combining AJB’s offerings with Verifone’s services creates an unmatched set of hardware-neutral solutions—giving merchants the ability to select from a wider range of products that best meet their business requirements,” said AJB founder and president, Naresh Bangia. “Ultimately, this enables AJB and Verifone clients to receive stronger value and support—all from a single vendor.”
  • First Data Announces Clover® Go - "The EMV-enabled card reader plugs into an iOS or Android tablet or smartphone and works with a Wi-Fi or cellular connection, allowing business owners of all sizes to seamlessly and securely accept payments outside of a traditional brick-and-mortar setting. Clover Go provides multi-merchant and multi-user functionality, enabling business owners to toggle between different store locations and provide access to an unlimited number of employees."

EVENTS

  • Payments in Portland (OR) - Join us Thursday, January 28th from 5:30-7:30 PM to hang out with your colleagues and competitors to discuss all things payments! We'll have appetizers, Oregon beer and wine. For the first time, Payments in Portland is including a short topical briefing - this month on "B2B Payments - Promise and Problems." If you have a Portland payments presence and something to say on B2B payments, let us know! RSVP HERE!

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 14, 2016

Headline News from PaymentsNews.com - January 14, 2016

ON THE WEB

ON THE WIRES

  • Adyen Expands Next Generation Point of Sale Solution to U.S. Merchants - “The $22 trillion retail industry has been on the verge of delivering a true omnichannel shopping experience for years, but outdated and siloed payment systems have been in the way,” said Pieter Van der Does, co-founder and CEO of Adyen. “With Adyen’s omnichannel solution, forward-looking retailers will have the platform they need to surprise and delight shoppers with new experiences that also grow their revenue.”
  • Verifone to Deliver End-to-End, EMV-Ready Payment Solution to Microsoft Dynamics Customers - “In addition to simplified payment management, merchants want the most efficient, secure and hassle-free ways to support EMV, NFC, mobile wallets and other emerging payment methods that also offer new engagement opportunities with their customers,” said Jim Surber, regional head of Payment as a Service, North America, Verifone. “Partnering with Microsoft Dynamics - provider of industry leading point of sale software and omni-channel retail and commerce solutions - will greatly expedite our ability to deliver these capabilities to a vast number of merchants across the U.S.”
  • Hyatt Completes Payment Card Incident Investigation - “Protecting customer information is critically important to Hyatt, and we take the security of customer data very seriously,” said Chuck Floyd, global president of operations for Hyatt. “We have been working tirelessly to complete our investigation, and we now have more complete information that we want to share so that customers can take steps to protect themselves. Additionally, we want to assure customers that we took steps to strengthen the security of our systems in order to help prevent this from happening in the future.”

EVENTS

  • Payments in Portland (OR) - Join us Thursday, January 28th from 5:30-7:30 PM to hang out with your colleagues and competitors to discuss all things payments! We'll have appetizers, Oregon beer and wine. For the first time, Payments in Portland is including a short topical briefing - this month on "B2B Payments - Promise and Problems." If you have a Portland payments presence and something to say on B2B payments, let us know! RSVP HERE!

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 08, 2016

Headline News from PaymentsNews.com - January 8, 2016

ON THE WEB

  • Bitcoin: How the Isle of Man is leading a cryptocurrency revolution - Independent (UK) - "While some jurisdictions, including the UK, continue to be cautious on cryptocurrencies, this crown dependency in the Irish Sea has set out its stall to become a global leader in the sector. Many are now referring to the Isle of Man as “Bitcoin Island”."
  • PayPal, others buy stolen data from criminals to protect users - San Francisco Chronicle - "A dozen people — including several current and former senior executives at major Silicon Valley mainstays and cybersecurity vendors — detailed to The Chronicle the process and its importance to counterintelligence investigations."

ON THE WIRES

EVENTS

  • Payments in Portland (OR) - Join us Thursday, January 28th from 5:30-7:30 PM to hang out with your colleagues and competitors to discuss all things payments! We'll have appetizers, Oregon beer and wine. For the first time, Payments in Portland is including a short topical briefing - this month on "B2B Payments - Promise and Problems." If you have a Portland payments presence and something to say on B2B payments, let us know! RSVP HERE!

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 07, 2015

Headline News from PaymentsNews.com - December 7, 2015

On the Web

  • EMV’s Not-Very-Even Distribution - PaymentsViews.com (George Peabody) - "In a market where simplicity and consistency has economic value—Apple Pay, PayPal, Amazon One-Click—cards are seemingly harder to use than ever while mobile payment methods proliferate and evolve. Of course, some merchants have contactless, many don’t, and some have even turned it off. Don’t get me started on that topic."
  • R3 CEV says global bank blockchain should be operating within a year - Sydney Morning Herald - "Tim Swanson, who joined R3 full-time this year and is also a research fellow at the Singapore Management University, says the biggest challenge working with banks to design protocols for a working blockchain, the technology underpinning bitcoin, is managing expectations while at the same time pushing to build a working platform as quickly as possible."
  • Forced authorisation chip and PIN scam hitting high-end retailers - Bentham's Gaze - "The fraud works when the retailer has a one-piece Chip and PIN terminal that’s passed between the customer and retailer during the course of the transaction."
  • Silicon Valley’s Hometown Bank Booms, But Risks Are on Horizon - Wall St. Journal - "The boom in technology startups has made SVB one of America’s fastest-growing banking companies..."
  • TransferWise Wants To Take Over The World - TechCrunch - "The startup’s secret sauce is a peer-to-peer model. For instance, if you have GBP and want to send EUR, TransferWise will automatically match you with people who want GBP and give you EUR in exchange."
  • Why Suppliers Should Get on the Corporate Card Bandwagon - Spend Matters (Steve Pedersen) - "When it comes to accepting corporate cards as payment, many suppliers experience a “sticker shock” effect before ever taking time to look under the hood. Upon closer examination of the benefits of card acceptance, many suppliers realize that they’re signing up for a lot more horsepower than checks and wire payments alone can provide."

On the Wires

  • SWIFT expands Innotribe programme to address market challenges - "SWIFT announces that Innotribe, its innovation arm since 2009, will expand its programme to support innovation in emerging FinTech ecosystems, such as Africa and Latin America. Innotribe will also launch a new initiative that challenges the SWIFT community to actively collaborate and develop utility-based solutions for the benefit of the global financial services industry."
  • 10 Disruptive Digital Trends Retailers Need To Know - "The notion that ‘the store is dead’ is not, in our opinion, the future – rather, stores will become highly technology-enabled to deliver a super-personalized customer experience and become the hub of omni-channel customer-centricity. These new predictions highlight our view of the retail industry in the coming year.”
  • Wells Fargo Survey: 2015 Gains in Small Business Optimism Erased - “This has been an unusually slow economic recovery for everyone, and small business owners are certainly feeling that,” said Mark Vitner, Managing Director and Senior Economist for Wells Fargo Securities. “With the economy growing as slowly as it has been, it’s been difficult for many business owners to increase their sales, and this has been particularly burdensome for firms who have seen expenses rise, including healthcare costs."

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 04, 2015

Headline News from PaymentsNews.com - December 4, 2015

On the Web

  • Apple Makes A Beeline For Carrier Billing In Emerging Markets, Starting With Russia - Techcrunch - "It’s therefore a perfect storm for Apple and carrier billing: countries like Russia represent a lot of growth for Apple, and so it’s creating a way to make it easier for consumers in these markets to pay..."
  • MasterCard, Visa Named Top Global Innovators - Wall St. Journal - "Six financial services firms are ranked among Boston Consulting Group’s annual list of top 50 global innovators. This is after two years of drought when no financial companies made the cut."
  • Machine Learning and Big Data Know It Wasn’t You Who Just Swiped Your Credit Card - Scientific Computing - "Fraud detection is an arms race between good guys and bad guys. At the moment, the good guys seem to be gaining ground, with emerging innovations in IT technologies, such as chip and pin technologies, combined with encryption capabilities, machine learning, big data and, of course, cloud computing."
  • Our thoughts on Ethereum - Medium (KPCB Edge) - "We think Ethereum as a software platform significantly adds to the potential ways blockchain technology could be used in an application’s technology stack."
  • Q: What Might Drive Bitcoin Mass Adoption? - Medium - "As was the case on the early internet, the early pioneers mainly consist of the speculators, developers and scientists who see this potential, building out early infrastructure on top of the base transport layer, with the masses joining in only once the killer applications develop, not the other way around."

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 27, 2015

Headline News from PaymentsNews.com - November 27, 2015

On the Web

On the Wires

  • The EPC Submitted to the ERPB its Proposal for the Design of an Instant Credit Transfer Scheme - "The European Payments Council (EPC) proposal for the design of a Single Euro Payments Area (SEPA) instant credit transfer (SCT Inst) scheme was submitted on that day to the Euro Retail Payments Board (ERPB), and approved."
  • New GSMA Study Highlights Role of Mobile in Delivering a Digital India - “India is a unique mobile market and one where the mobile ecosystem is playing a hugely influential role in transforming the lives of its citizens, and driving economic growth,” said Alex Sinclair, Acting Director General and Chief Technology Officer at the GSMA. “The market is now rapidly migrating to mobile broadband technology, which is providing a platform for India to transform into a digitally empowered society and connect many millions of unconnected citizens to the internet over the coming years.”
  • Five Ways to Keep the Grinch Out of Your Cybershopping: Tips from U.S. Bank Security Coach Jason Witty - US Bank - “It’s important to remember the critical role consumers play when it comes to protecting their personal information and data; they can’t rely on businesses and retailers alone,” said Jason Witty, Chief Information Security Officer at U.S. Bank. “Holiday shopping is fun, but it’s important to always remember the risks involved and take proper precautions.”

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!

November 19, 2015

Headline News from PaymentsNews.com - November 19, 2015

On the Web

  • Why Square Has to Get Out of the Payments Circle - Wall St. Journal - "Square has gone public as a payments company. Its share price from here will depend on the company’s ability to reshape itself."
  • Square Shares Jump on Trading Debut - New York Times - "At the close of trading on the New York Stock Exchange, the shares were up 45 percent, at $13.07. Earlier, the stock was up as much as 64 percent."
  • For Its I.P.O., Square Scales Back Valuation by $3 Billion - New York Times - "Square — valued in a private financing last year at $6 billion — priced its initial public offering at a level that gave the payments company a valuation of $2.9 billion."
  • Getting The Deal Done - AVC (Fred Wilson) - "If you believe in your business and yourself, take the money and get back to work. A financing is not an exit. The price matters less than the cash most of the time."
  • Startup Fuels Africa’s Mobile-Payment Boom - Wall St. Journal - "Founded in 2009, MFS Africa has pioneered a mobile payment platform embraced by the continent’s biggest telecommunications operators, which count about 500 million customers combined."

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!

November 18, 2015

Headline News from PaymentsNews.com - November 18, 2015

On the Web

  • Square IPO Offers Up a Litmus Test - Wall St. Journal - "The mobile-payments startup founded and run by Twitter Inc. Chief Executive Jack Dorsey is perhaps the highest-profile IPO out of San Francisco this year..."
  • Banks and Fintech Firms’ Relationship Status: It’s Complicated - Wall St. Journal - “The classic narrative is the Silicon Valley firebrand who’s taking on the system,” said Matt Harris, managing director of Bain Capital Ventures, an early Simple investor. In financial services, though, “that’s just not going to be a winning narrative.”
  • Blockchain: A Fundamental Shift for Financial Services Institutions - Capgemini - "In this paper, Capgemini looks at blockchain technology and how it can transform financial institutions. We also explore how to evaluate this new technology and what to consider when looking at blockchain as a transformational opportunity."
  • Fidelity Charitable Donors Can Now Contribute Bitcoin - Coinable Blog - "This partnership is the latest example of a large organization leveraging the power of the world’s largest, most secure blockchain, the Bitcoin blockchain."

On the Wires

  • Online Retail Fraud Attempts Increased by 30% in Past Year - “When it comes to fraud, 2015 is likely among the riskiest season retailers have ever seen; and it is critical that they prepare for a significant uptick in fraud, particularly within eCommerce channels,” said Mike Braatz, senior vice president, Payments Risk Management, ACI Worldwide. “Our findings suggest that merchants must be even more vigilant and shore up eCommerce fraud protocols, which may leave online shoppers more vulnerable.”

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!

November 12, 2015

Headline News from PaymentsNews.com - November 12, 2015

On the Web

  • Paying Your Pals With Digital Options From Venmo to Facebook - ABC News - "Cash is passe, say digital mavens. If you really want to pay your friends back for that pizza party, use an app to shoot money to their mobile-phone number — or their Facebook account."
  • What lies behind the JPMorgan Chase cyber-attack - Economist - "The proceeds, since the scams started in 2007, amount to hundreds of millions of dollars. They stole personal data relating to more than 100m people, 83m of them customers of JPMorgan Chase."
  • Sending money overseas: could the blockchain hold the answer? - "By combining our experience as the largest payments network in the world, with Epiphyte’s knowledge of the distributed ledger, we’re hoping we can identify ways to improve the experience and better understand how these findings might be applied to remittance processes in the future."
  • New York FinTech Innovation Lab 2016 - AVC.com (Fred Wilson) - "If you are starting or building a company that is focused on the fintech sector and would like some help on strategy, product market fit, and business development, this is a great program to consider."

On the Wires

  • PayPal Completes Acquisition of Xoom - "Xoom will operate as a separate service within PayPal under the continued leadership of John Kunze, who has joined PayPal’s executive staff and will report to PayPal CEO Dan Schulman."
  • Chase Celebrates the Holidays with VIP Lounges for United MileagePlus® Cardmembers - “Every year we look forward to providing the VIP Lounge experience for United MileagePlus Cardmembers to enjoy some much needed relief from the hectic holiday shopping crowds,” said David Gold, general manager, Chase. “Whether it’s heading to the mall or traveling on vacation, we always look for exciting ways to give our Cardmembers unique benefits and special programs, such as the VIP Lounge and Inside Access events.”
  • MasterCard Expands Consumer Protection Across the Globe - “Over the past few years, consumers have grown increasingly concerned about the security of their data and account information, and liability for unauthorized transactions,” said Nancy O’Malley, chief payment system integrity officer, Enterprise Security Solutions at MasterCard. “With this new global program, we, together with our issuers, are providing our cardholders with additional peace of mind regardless of where they live or travel.”
  • MasterCard Announces Executive Appointments - "Ed McLaughlin has been named chief information officer." "Garry Lyons, chief innovation officer, will now lead the Digital Payments and MasterCard Labs organizations." "Raja Rajamannar, chief marketing officer, will add communications to his responsibilities." "Chris Monteiro will become chief communications and digital marketing officer, reporting to Rajamannar."
  • SWIFT Institute: New research evaluates real-time payment systems - "The report, entitled “Near Real-time Retail Payment and Settlement Mechanism Design” by Zhiling Guo, Robert J. Kauffman, Mei Lin, and Dan Ma from the School of Information Systems at Singapore Management University focuses on the development of a ‘hybrid priority queuing mechanism’ for faster payment settlement systems."
  • Heartland, The Pinnacle Corporation First to Offer Integrated EMV POS Solution for Convenience Petroleum Merchants - "Heartland and Pinnacle’s Palm POS™ system provides petro retailers with the highest level of protection available against card-present data fraud and will accept EMV chip-cards for indoor and contact transactions."
  • Credit Karma Launches Direct Dispute Feature to Help the One in Four Americans with a Credit Report Error - “Nearly half of Americans have not checked their credit report2, so many have errors which might be hurting their credit score. We want to change that,” said Ken Lin, founder and Chief Executive Officer of Credit Karma. “Our online Direct Dispute feature lets our members easily take action as soon as they see an error."

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!

November 03, 2015

Headline News from PaymentsNews.com - November 3, 2015

On the Web

On the Wires

  • American Express and Airbnb Launch First-of-Its-Kind Booking Experience and American Express Loyalty Program Integration for Card Members - “We welcome millions of Amex Card Members to belong anywhere with Airbnb,” said Lex Bayer, Head of Global Payments and Business Development, Airbnb. “Whether staying at a bungalow in Bali with Membership Rewards points, or a business trip to London with your Amex Card, this partnership makes booking an Airbnb in over 190 countries seamless and allows Card Members to be verified with their American Express login within the trusted community of Airbnb.”
  • Fiserv and Early Warning Partner to Enable Real-Time Bill Payment and Real-Time Deposit Services for U.S. Financial Institutions - "The partnership between Fiserv and Early Warning brings together the leading provider of electronic bill payment and the leading provider of real-time deposit account verification and funds availability to enable broader consumer access to real-time services through their financial institutions. Combined, the Fiserv and Early Warning networks reach more than 6,000 banks and credit unions, including the 40 largest financial institutions in the U.S. and thousands of mid-size and community financial institutions, representing more than 75 percent of all deposit accounts in the U.S. The NOW Network from Fiserv also connects to tens of thousands of billers."
  • Intuit’s New Banking Integration Technology Can Make Accounting More Accurate and Seamless - “This new bank feeds technology is all about leveraging the power of our platform to save small businesses time by automating the process of entering data into QuickBooks,” said Avi Golan, vice president and general manager of the Intuit Developer Group. “We’re pleased to be working with American Express to enable American Express OPEN Card Members to be the first to benefit from this new technology. This is a great example of how our open platform approach allows us to partner with leading companies who can help small businesses be more efficient and effective.”
  • Fractals Delivers Intelligent Card and eBanking Fraud Detection for the Enterprise - "Fractals’ new eBanking channel brings the intelligent fraud detection functionality of Fractals to the internet and mobile banking space. As well as monitoring financial transactions, such as payments and transfers, Fractals also monitors non-financial transactions, including login attempts, changes of personal data and creation of new recipients which might indicate fraud on an account."
  • MasterCard Names Craig Vosburg, President, North America Markets, Succeeding Chris McWilton - "Vosburg, 48, was most recently the company’s chief product officer, a role he held since April 1, 2014. In this role, he led the development, commercialization and management of the company’s global Core Products offerings which include consumer credit and debit, commercial, prepaid and loyalty solutions."
  • Catherine Moore named President for Commerce Solutions, Europe, for J.P. Morgan - “Catherine is an outstanding leader and an experienced manager whose wealth of knowledge and insight into the payments industry and this region will be invaluable in our drive to boost our current market position, enable our clients to grow, and make the most of new business opportunities throughout Europe,” said Michael K. Passilla, CEO for Chase Commerce Solutions.

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!

October 26, 2015

Headline News from PaymentsNews.com - October 26, 2015

On the Web

On the Wires

  • Visa Brings Token Security to eCommerce - "Visa today announced that it has integrated token technology into Visa Checkout, the company’s online check out service used by merchants and consumers globally to make safe, easy payments in just a few clicks."
  • U.S. Banks Unite to Form Industry Leading Secure Real-Time Payments Network - In a joint prepared statement, the CEOs of Bank of America, BB&T, Capital One, JPMorgan Chase, U.S. Bank, and Wells Fargo said, “Our customers want the ability to make payments to anyone, in real-time, making funds instantly available in the recipient’s bank account. To achieve this, we are combining our collective, bank-owned digital payments network (clearXchange) with our fraud, risk and authentication assets (Early Warning), to further ensure that our customers can send money, confidently, securely, and in real-time via their financial institutions.”
  • The Clearing House Drives Closer to Standing-Up New Innovative National Real-Time Payment System - "The Clearing House (TCH) announced it has entered into a letter of intent with VocaLink, the UK-based international payment systems provider, to help build and deliver core elements of TCH’s new real-time payment system for the United States."
  • MasterCard Launches New Program That Can Turn Any Consumer Gadget, Accessory or Wearable into a Payment Device - “As more and more ‘things’ become connected, consumers will have endless possibilities when it comes to how they pay, and will need all of their devices to work seamlessly together,” said Ed McLaughlin, Chief Emerging Payments Officer at MasterCard. “This program eliminates the boundaries of how we pay by delivering a secure digital payment experience to virtually anything – rings, fitness and smart bands, car key fobs, apparel, and whatever comes along next.”
  • Western Union Introduces WU Connect Platform, Expanding Cross-Border Money Transfer via Mobile and Social Media - David Thompson, EVP, Global Operations and Technology and CTO, Western Union, expressed excitement about the potential impact of this new offering saying, "This puts Western Union in a position to extend its digital platform to networks whose users are looking for more convenient ways to send and receive money globally on a platform of their choice."
  • Sequent Launches Token Service Platform Supporting all Card Types and Networks - "Compatible with all major credit and debit card networks, Sequent Token Service Platform allows banks to deploy a single solution to support their entire credit and debit card portfolio plus profitable private label and prepaid cards."
  • E*TRADE Resets Mobile Bar with Apple Pay - "E*TRADE Financial Corporation today announced the release of Apple Pay functionality for E*TRADE debit card holders."
  • Scotiabank First Canadian Bank to Launch Bulk Interac e-Transfer® Service - "Scotiabank is pleased to be the first Canadian Bank to offer this innovative new service to meet the needs of our business banking customers," said Rania Llewellyn, Senior Vice President, Cash Management and Payment Services at Scotiabank. "We are always looking for new ways to make everyday business transactions fast, easy and secure for our customers, and with the Bulk Interac e-Transfer service, our business banking customers have more choices to send electronic payments efficiently."
  • TSYS and Ingenico Group to Offer New Semi-Integrated EMV Solution - "Using a semi-integrated approach, communications between the PIN pad and point-of-sale (POS) system are limited to non-sensitive exchanges, preventing card data from entering the POS. By taking the POS out of the payment flow process, not only are EMV certification and PCI compliance simplified, but overall costs and time required for EMV implementation are reduced as well."
  • Mozido Expands Digital Payments Offering: Launches U.S. - China Cross-Border Payment Gateway - "The Mozido PayEase Payment Gateway service enables Chinese consumers to securely pay with their local bank accounts and credit cards with reliable settlement of the funds to the U.S. merchant’s bank account. As the first and most trusted cross-border payment gateway in China, Mozido PayEase breaks down barriers by allowing Chinese citizens to pay in their local currency while allowing the merchant to be paid in their home currency through a seamless transaction."
  • Dream Payments Launches Canada's First Off-The-Shelf EMV Payment Terminal That Accepts Interac Debit Card Payments - "The Dream solution consists of an MPOS application for iOS® and Android™ based smartphones and a Bluetooth® enabled EMV Debit and Credit Card Reader. The Dream card reader is available through TELUS at an introductory price of $99.99. Payment processing fees are low cost; $0.25 for Interac Debit card transactions and 2.75% for Visa® and MasterCard® credit card transactions."
  • Penny Inc Launches at Money20/20 with Prepaid MasterCard® Card and Integrated Mobile App Solution
  • - "Penny Inc, which provides payments and expense and travel management solutions for small to medium-sized businesses, today announced the launch of the Penny Inc prepaid MasterCard® card program (“Penny”) virtually connected to a mobile app."
  • INTECH to Provide Prairie Cloudware Platform to Credit Union Clients - "INTECH will white label the Prairie Cloudware technology allowing credit unions to offer members a mobile wallet that carries the institution’s brand. The initial deployment of the Digital Payments Guardian for INTECH will offer an Android mobile wallet with a Visa card. The solution can be extended to include additional payment cards and sources as well."

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 29, 2015

Headline News from PaymentsNews.com - September 29, 2015

It's Time to Register! Upcoming Payments Boot Camps!

  • Glenbrook's fall season of payments education kicks off in October with two sessions of our Payments Boot Camp - one in the San Francisco Bay Area on October 13-14 and the other in New York City on October 20-21. Glenbrook's Russ Jones is now leading this important payments education curriculum - he'd love to meet you at one of these sessions. Contact Russ directly if you have any questions.

On the Web

  • U.S. court hears challenge to $5.7 billion Visa, MasterCard settlement - "A lawyer for retailers including Target and Amazon.com urged the 2nd U.S. Circuit Court of Appeals in New York to reject the deal, saying it forces merchants to give up their rights to sue over various policies and practices."
  • As Online Data Theft Escalates, Banks Look to Retailers to Bear the Losses - New York Times - "Retailers and banks are spending billions of dollars to upgrade to the new chip cards. While they hope the cards will slam the door on criminals obtaining financial data that can be used to create and sell counterfeit cards, they warn that other windows for fraud will remain wide open."
  • Chip Cards Will Require Users to Dip Rather Than Swipe - New York Times - "For several seconds, slightly longer than most people may be used to, cards are inserted and left in the cashier’s payment terminal, which uses the chip to determine whether the card is legitimate."
  • Review: Samsung Pays Where Apple Can’t - Wall St. Journal - "But Samsung Pay faces an unusual hurdle: awkwardness. Attempting to use it for the past few weeks, I got the stink-eye from many merchants, as if I were some kind of con artist or hacker."
  • Mexico's Payment Restrictions Now Cover Bitcoin - CoinDesk - "Mexico's Secretariat of Finance and Public Credit (SHCP) has clarified its stance on bitcoin, deeming it a means of payment whilst placing a series of restrictions on transactions involving the digital currency."

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!

September 17, 2015

Headline News from PaymentsNews.com - September 17, 2015

On the Web:

  • Designing the Uber Cash Experience - Medium (Matthew Moore) - "We immediately discovered that users in India live in a different payments landscape than most Uber riders around the globe. The difference: 95% of Indians don’t have access to a credit card, and due to local regulations, paying for anything digitally is a cumbersome process."
  • Who’s Behind Bluetooth Skimming in Mexico? - Krebs on Security - "What follows is a look at a mysterious new ATM company in Mexico that sources say may be tied to the skimming activity."

On the Wires:

  • Intuit and OnDeck to Launch $100M Small Business Lending Fund - “This new product is all about empowering small businesses to leverage the power of their own data so that they can take advantage of better financing options,” said Dan Wernikoff, executive vice president and general manager of Intuit’s Small Business Group. “Small businesses rely on financing to power their growth, to invest in new employees, new equipment, and new opportunities. We’re excited to continue working with OnDeck to fuel more small business success.”
  • Modernizing Canada's Payment System requires a holistic approach - "The global payments ecosystem is changing, enabled by new technology and driven by changing user demands," said Gerry Gaetz, President and CEO of the CPA. "In Canada, we are taking a holistic approach to modernizing our systems, which includes significant research, a global perspective and industry consultation. This particular piece of research is a first step and will help frame industry discussions as we move forward."
  • TSYS Supports Android Pay - "TSYS’ new Host Card Emulation (HCE) solution enhances its existing TSYS Enterprise Tokenization solution to empower mobile payment solutions like Android Pay. It allows payment card information to be stored in the cloud and transferred by a tap of the mobile device at the merchant terminal."
  • Digital River Inks Payments Agreement with Online China Travel Leader Ctrip - “With one of China’s leading online travel websites, Ctrip has become one of the best-known travel brands in the country,” said Hayden Reed, Digital River’s senior vice president and general manager of Digital River World Payments. “China’s travel sector continues to see accelerated growth. Backed by our leadership position in the payments marketplace, we look forward to helping Ctrip advance their online travel offering and raise their global profile.”

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 16, 2015

Headline News from PaymentsNews.com - September 16, 2015

Heading to Portland!

Your editor is on his way to Portland, Oregon for this afternoon's Payments in Portland event. I'll be joining my partner Carol Coye Benson for this inaugural get together of Portland-based "payments geeks". Hope to see many of you there!

On the Web:

  • IBM Adapts Bitcoin Technology for Smart Contracts - Wall St. Journal - "Within the next few months, the venerable tech giant plans to release open source software that could be used to create digital contracts that—like bitcoin transactions—would be recorded publicly and securely on a world-wide computer network."
  • St. Paul judge certifies class-action status to banks in Target breach suit - StarTribune - "A federal judge in St. Paul on Tuesday granted class-action status to financial institutions suing Target Corp. for damages related to the 2013 cyberattack on its data system."
  • Submerging Payments, Part II - Finsurgency (Matt Harris) - "Over time, consumers won’t say “I’ll choose the card that has the best mobile interface”; they will choose Uber (or Apple Pay, Paypal, etc) and whatever funding mechanism they selected at inception will just fire away."

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!

September 10, 2015

Headline News from PaymentsNews.com - September 10, 2015

On the Web:

On the Wires:

  • Sam’s Club Locations to Accept American Express Cards - Tracey Brown, chief member officer at Sam’s Club, said: “We strive to give more value to our members – more savings, great experiences and quality merchandise. Everything we do ties back to how we can better serve our members. The acceptance of the American Express Card underscores our commitment to bring greater ease and flexibility to our members’ shopping experience. American Express – known for their exceptional customer service, loyal, higher-spending Card Members and advocacy of small businesses - will help to extend the value of membership.”
  • One of Every Four Debit Cards to be Converted to Chip by End of 2015 - "Based on these plans, 25 percent of U.S. debit cards – approximately 71 million cards – will be migrated to chip by the end of 2015. The percentage is expected to rise to 73 percent by the end of 2016 and 96 percent by the end of 2017."
  • Feedzai Partners with Socure, Offering Joint Fraud Prevention Solution for Financial Institutions - "With the Socure partnership, online and social data becomes another source of data that Feedzai's software uses to detect fraud and minimize risks. Additional data sources used by Feedzai include session clickstream, access frequency, and malware signatures, among others."
  • Federal Reserve System Appoints Payments Security Strategy Leader - "The Federal Reserve System on Thursday announced the appointment of Federal Reserve Bank of Chicago Senior Vice President Todd Aadland as its Payments Security Strategy Leader. In this role, Aadland will lead the System's activities to address fraud risk and advance the safety, security and resiliency of the payment system."

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 09, 2015

Headline News from PaymentsNews.com - September 9, 2015

On the Web:

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!

September 03, 2015

Headline News from PaymentsNews.com - September 3, 2015

On the Web:

  • Credit-Card Fraudsters Pump Gas Stations for Profit - Wall St. Journal - "The crime wave has been driven by the flood of stolen credit-card data easily accessible online, much of which was swiped in high-profile breaches."
  • Cashback cull: Tesco halves Clubcard points for 2.8m credit card holders - The Telegraph - "Millions of Tesco credit card holders will see their cash earnings halved overnight as a result of new European laws that have forced several high street lenders to withdraw cashback deals."
  • Small Businesses Are Slow to Embrace New Chip-Card System - Wall St. Journal - "Many small businesses aren’t switching, mainly because they don’t know about the shift or don’t see any payoff from the new systems, which are slightly slower."
  • 4 trends in fintech startups - O'Reilly Radar - "It’s hard for incumbents to innovate existing businesses in house, and this is where startups thrive: testing new business models and pushing the limits of technology unencumbered by regulations or corporate baggage. Hackathons and startup competitions are where innovative ideas are tested."

On the Wires:

  • MasterCard Start Path to Build the Future of Commerce with Startups - “Start Path thoughtfully connects the right partners with the right startups to build the future of commerce together,” said Stephane Wyper, Global Lead of MasterCard Start Path. “And now with our global expansion, we will be able to target a broader range of startups and help them achieve success."
  • FLEETCOR Announces New Executive Appointments to its Comdata Business Units - “We’re delighted to welcome Greg and Kurt to the Comdata and FLEETCOR management team,” said Ron Clarke, Chairman and CEO of FLEETCOR. “Each brings successful general management experience to their new roles. We expect these executive additions will help accelerate the implementation of our Comdata growth plans.”

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 02, 2015

Headline News from PaymentsNews.com - September 2, 2015

On the Web:

On the Wires:

  • Former Visa CEO Joins Kash - "I doubt there are more than a handful of people who know as much about payments in the US as Joe Saunders. He was the CEO of Fleet Credit Card Services, CEO of Providian, and President of Card Services at Washington Mutual. He is joining Kash as the Chairman of our Board."
  • FDIC-Insured Institutions Earn $43 Billion in Second Quarter 2015 - "Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $43.0 billion in the second quarter of 2015, up $2.9 billion (7.3 percent) from a year earlier and the highest quarterly income on record. The increase in earnings was mainly attributable to a $3.6 billion rise in net operating revenue (net interest income plus total noninterest income). Financial results for the second quarter of 2015 are included in the FDIC's latest Quarterly Banking Profile released today."
  • Banking with the “Bat of an Eye”: First Internet Bank Offers Eyeprint ID Technology for Mobile Banking Access - “Eyeprint ID is the latest demonstration of First Internet Bank’s commitment to customer-centric digital banking,” said David Becker, President and CEO. “Eyeprint ID comes quickly after our introduction of Touch ID authentication earlier this year, which enables customers to log in with a fingerprint. Biometric technology allows us to provide innovative solutions to our customers’ need for secure, convenient account access.”
  • Shopkick Blows Past 15 Million Users, Doubles in One Year - “If you stacked all of the gift cards that users have received from shopkick, the pile would be 18 Empire State Buildings, or over four miles, high. That’s 15 billion Kicks, or $60 million, that we’ve rewarded to shopkick users just for shopping how they want to shop,” said Cyriac Roeding, co-founder and CEO of shopkick.
  • Xoom Launches Money Transfer Service to Singapore - “We are so excited to offer our money transfer services to customers with family and friends in Singapore,” said Iain Allison, Vice President of Business Development at Xoom. “We look forward to delivering convenient, safe, and economic service to the Singapore market."

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 05, 2015

Headline News from PaymentsNews.com - August 5, 2015

On the Web:

On the Wires:

  • Visa Opens Technology Center in Bangalore; Accelerates Digital Commerce Globally - “India has fast become one of the world’s most important technology epicentres with an incredible pool of technology talent,” said Charlie Scharf, Chief Executive Officer, Visa Inc. “Our new center in Bangalore, which complements others planned for Singapore and the U.S., will help Visa to accelerate the development of next generation payment solutions that enable secure, digital commerce through connected devices like mobile phones, PCs, tablets and even cars.”
  • Square Will Name Ruth Simmons to Board of Directors - "As President of Brown University, Simmons made significant strides in improving Brown's standing as one of the world’s finest research universities, created initiatives to increase financial support and resources for students, and ensured that diversity informed every dimension of the university. Prior to Brown, she served as the President of Smith College, where she established the first engineering program at an American women's college."
  • Blumenthal Demands Explanation of Retailers Blocking New Secure Mobile Payment Methods - "U.S. Senator Richard Blumenthal (D-Conn.), Ranking Member of the Senate Committee on Commerce, Science, and Transportation’s Subcommittee on Consumer Protections and Data Security, requested answers from the Merchant Customer Exchange (MCX) whose members have blocked use of new mobile payment systems."
  • Pocket Systems Launches Online Fraud Prevention Device - "PocketKey technology is compatible with existing card processing gateways and card networks. The payment data from PocketKey looks exactly like the data generated by a magnetic swipe card and can therefore travel through payment gateways in precisely the same way."

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!

July 22, 2015

Headline News from PaymentsNews.com - July 22, 2015

On the Web:

On the Wires:

  • Starbucks Creates First-of-its-Kind Digital News Experience with The New York Times - “This expanded relationship with The New York Times allows us to directly engage our most loyal customers with the latest and most relevant news of the day,” added Kevin Johnson, president and coo of Starbucks. “Through these types of relationships, we are well on our journey to provide our most loyal customers with the opportunity to earn Stars everywhere and redeem them for food and beverages in Starbucks stores.”

  • USAA and Nuance Create Financial Literacy Virtual Assistant to Help Millennials Break Negative Savings Rate - "Savings Coach is one of the first proactive virtual assistants for banking, designed especially to help millennials save money. The app – available to all USAA members – enables users to track when they skip a purchase, like buying a coffee, and moves the money they would have spent on the purchase from their checking account to a savings account. Members are rewarded through points, badges and new levels within the app."

  • Oberthur Technologies and Etisalat Group Sign a New Strategic Partnership on M2M and IoT Services - "Following an intensive evaluation process, Etisalat has selected OT’s M-Sense solution which consists of a rich set of horizontal capabilities for both application enablement and device management. M-Sense allows the secure collection and management of various data from any M2M device over any network and their control in real time."

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 17, 2015

Headline News from PaymentsNews.com - July 17, 2015

On the Web:

  • CVS Probes Card Breach at Online Photo Unit - Krebs on Security - "Nationwide pharmacy chain CVS has taken down its online photo center CVSphoto.com, replacing it with a message warning that customer credit card data may have been compromised."
  • How to scale: Lessons from Stripe CEO, Patrick Collison - Khosla Ventures - "Stripe CEO, Patrick Collison, talks with Keith Rabois about culture and recruiting. Hear why Stripe tries to hire people who are intrinsically happy, why they’re willing to recruit people who are not initially enthusiastic about the company and what makes their onboarding process unique."

On the Wires:

  • Ethoca Secures USD $45 Million Growth Equity Investment Led by Spectrum Equity - “We are excited to have Spectrum Equity working alongside Ethoca to help accelerate the next phase of our global expansion and the delivery of new collaboration-based services to meet growing customer demand,” said Andre Edelbrock, CEO & Co-Founder of Ethoca. “Importantly, Spectrum supports our mission of reaching what we call ‘maximum acceptance’ – a place where good customers are never turned away and everyone benefits from the financial rewards that result when ecommerce can simply be about commerce.”
  • Coming Monday: PayPal Celebrates Listing Day in Times Square - "On July 20, 2015, PayPal Holdings, Inc. will celebrate its new status as an independent public company trading on the Nasdaq Stock Market under the ticker symbol “PYPL” in New York’s iconic Times Square."
  • Synchrony Financial Reports Second Quarter Net Earnings of $541 Million or $0.65 Per Diluted Share - “We continue to grow our industry-leading consumer finance business on several fronts. We have signed new partners across our platforms, extended key contracts, and made technology investments which are yielding innovative, value added services for our partners and customers. We also continued to deliver strong receivables, deposit, and revenue growth,” said Margaret Keane, President and Chief Executive Officer of Synchrony Financial.

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 26, 2015

Headline News from PaymentsNews.com - June 26, 2015

On the Web:

  • Building a Safer Payment System - Speech by Federal Reserve Governor Jerome H. Powell - "Each of us has an important role to play in building a safer payment system. Given the payment system's complexity, it's important to keep in mind that we all need to work together when we innovate, prevent, plan, and educate."
  • Turmoil in Payments - Filene Blog - "To paint a picture of the shifting landscape, Filene completed more than two-dozen expert interviews, conducted a survey to gauge credit unions’ challenges around payments and what they’re doing about them, and examined existing literature."

On the Wires:

  • TSYS Research Reveals Canadian Consumers Prefer Credit Cards as Payment Choice - "The second annual research found that when given a choice, 46 percent of Canadian consumers prefer to pay using their credit cards more than any other payment method. That’s up from 34 percent in 2014. The recent online survey of more than 1,200 respondents, age 18 years and older, found that consumer preferences for using credit cards to shop online, combined with an overall increase in e-commerce, will likely cause a continued rise in credit use."
  • RentPayment Announces Plans to Report Rental Payment Information to TransUnion - "YapStone™ announced today that RentPayment, its online and mobile payment solution for the apartment rental industry, will now report rental payment information using TransUnion’s Resident Credit. The integration with ResidentCredit will offer a prompt, seamless reporting process for property managers and residents."
  • Wells Fargo Redesigns CEO Portal Services for Multiple Devices - “Over the last 15 years, we’ve seen dramatic changes in technology and the way our customers do business ― it’s not just through their desktops anymore,” said Steve Ellis, executive vice president and group head of Wholesale Services at Wells Fargo. “We’re continuing to invest in new technology to make banking easier and more secure for our customers who need to connect with many types of devices. We continually improve the CEO and release new features every quarter ― that’s 60 updates since its launch.”
  • Fintech Investment in U.S. Nearly Tripled in 2014, According to Report by Accenture and Partnership Fund for New York City - "The value of fintech investments in the United States soared to $9.89 billion in 2014, up from $3.39 billion in 2013. This 191 percent increase dwarfs the increase in 2013, when fintech deal values in the United States climbed 68 percent. In New York, fintech deal values grew by 32 percent in 2014, to a new high of $768 million."

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!
Payments News on Facebook
Glenbrook Partners

PAYMENTS NEWS IS PRODUCED BY AND IS A SERVICE MARK OF GLENBROOK PARTNERS, LLC
ISSN 1556-4487

Glenbrook's Consulting Services

  • Innovation and Strategy
  • Payments Product Development
  • Payments Market Assessments
  • Payments Vendor Selection
  • Merchant Payments Optimization
  • Payments Risk Management
  •  
  • To discuss how Glenbrook can
    help you
    , email us:

Glenbrook's Payments Education

  • Payments Boot Camps
  • Payments Essentials Webinars
  • Private Payments Workshops
  •  
  •  
  •  
  •  
  • For more information on Glenbrook's payments education, email us:

Tools for Payments Professionals

  • Glenbrook Writings
  • Payments News
  • Payments Views
  • Payments Jobs
  • Payments Education
  • Payments Bookstore
  •  
  • To send us news that you'd like us to cover on Payments News, email us:

Contacts:                        
Compilation Copyright © 2002 - 2016 Glenbrook Partners LLC. All Rights Reserved.
Terms of Use        Privacy Policy        RSS Feed        Payments News RSS Feed

Subscribe to Payments News   

Follow Payments News on Twitter for Real-Time Updates