On the Web:
- American Express to Sell Half of Its Business Travel Arm for $900 Million - New York Times - "The deal completes an effort begun last year by American Express to trim its exposure to corporate travel..."
- Isis CTO accuses retailers of turning off NFC and smartcard payment tech - Computerworld - "...a few national retailers who are MCX members have begun turning off the ability of recently-upgraded payment terminals to recognize NFC payments or read smart credit and debit cards embedded with a chip..."
- The Threats That Help PayPal - New York Times BITS Blog - “Good payments make paying go away,” he said. “PayPal competes by taking the friction out — online, with mobile and, increasingly, offline.”
- The Challenge to Create an Awesome Mobile Payments Experience - Portals and Rails Blog - "The industry can address the security and privacy issues through a strong consumer education and awareness campaign. However, moving consumers from their current habits will require the achievement of a strategic inflection point—something that many payments industry stakeholders have tried to achieve over the years but have failed to do so."
- New Prepaid Providers Work to Pull Consumers Away from FIs - The Members Group Blog - "Marketing language on the T-Mobile website leaves little doubt that the wireless provider is striving to pull even banked consumers away from their current FIs with its new prepaid offering..."
- Navigating Cultures, Accepting Criticism - New York Times - An interview with Ann Cairns, president of MasterCard’s global operations outside North America.
On the Wires:
- American Express Enters into Agreement to Create Joint Venture for Business Travel - "Under the agreement, American Express will share ownership of the joint venture with an investor group led by Certares. In the proposed transaction, American Express will separate its GBT operations into a dedicated holding structure, which will include certain assets and liabilities that currently comprise GBT, and will have a 50% ownership stake in the joint venture following the closing."
- U.S. Bank Introduces New FlexPerks® Corporate Rewards Program for Commercial Card Clients - "Flex points can be pooled at the corporate level to be redeemed at the organization’s discretion, or employees can be enabled to earn the points."
- mopay and Deutsche Telekom Extend Partnership with Strategic Carrier Billing Agreement - "The agreement will allow mopay to connect directly to Telekom’s international payment hub, Service Delivery Platform (SDP). Through this direct access, 14 markets and 142 million mobile customers will enjoy the frictionless mopay payment experience powered and connected by one of Europe’s largest carrier groups."
- Retailers Face Big Hurdles in Bridging the “Omni-Channel Commerce Gap,” According to New Research from Accenture and hybris - “Thirty nine percent of customers surveyed say they are unlikely or very unlikely to visit a retailer’s store if its website does not provide physical store inventory information,” said Chris Donnelly, global managing director of Accenture’s Retail Practice.
- Accenture Opens New Innovation Center for Financial Services in Jakarta - "Indonesia’s financial services companies understand they need to offer their customers the mobile and digital services they seek, and our new Innovation Center for Financial Services presents powerful solutions for doing so,” said Sushil Saluja, senior managing director of Accenture’s Financial Services group in Asia-Pacific.
- FIS to Power Mobile Application for One of Nation’s Fastest-growing Frozen Yogurt Chains - "FIS, the world’s largest provider of banking and payments technology, will provide Orange Leaf with a new mobile-based retail experience solution that includes payment capabilities, loyalty rewards, offer redemption and more."
- Huntington Bank Appoints Howell D. ‘Mac’ McCullough III Chief Financial Officer - "During the last seven years, he was the chief strategy officer at U.S. Bank where he was responsible for driving organic revenue growth, building new capabilities, advocating for customers and enabling innovation across the enterprise."
Updates from Glenbrook:
- Glenbrook Payments Boot Camps: March 18-19 in New York; May 6-7 in Palo Alto, CA.
- The Kindle edition of our book "Payments Systems in the U.S. - Second Edition" - is now available in the Kindle Store as well as in an iBooks version for your iPad or Mac in the iBooks Store.
- Feedback: How are we doing for you? I'd love to hear from you - drop me a quick note: [email protected] or leave me a voicemail: +1.650.469.3421.
- Got news? Please forward press releases to: [email protected].
- Need consulting help from Glenbrook for one of your payments projects? Let us know your needs here - and we'll get right back to you!
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