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:
- Macy’s, Inc. Now Offers PayPal to Customers Online, In Store and On Mobile - "Macy’s, Inc. is rolling out PayPal as a payment option for its brands in-store, online and on mobile and by the end of the month, PayPal will be available as a payment option for all of its customers. Now, all Macy’s and Bloomingdale’s customers can seamlessly shop and checkout across all channels."
- Chase, Visa and United Airlines On Board for Multi-Year Extension to Credit Card Program - “This renewal reinforces our long-standing commitment to providing our mutual customers valuable rewards and travel privileges to get the most out of their travel,” said Eileen Serra, chief executive officer of Chase Card Services. “We are thrilled to continue this successful partnership, and look forward to collaborating on the progression of the overall program.”
- First Data Extends Relationship with Google to Support Android Pay - “First Data has collaborated with Google since it first entered the mobile wallet market and we are pleased to deepen the relationship with our support of Android Pay,” said Barry McCarthy, Executive Vice President and Head of Network and Security Solutions at First Data.
- Optimal Payments Partners With Emergent Payments to Support International Growth of Digital Businesses - "Optimal Payments has partnered with Emergent Payments to integrate the NETELLER service and Net+ Card Stored Value solutions into Emergent Payments' offering."
- Retailers Losing 1.32 Percent of Revenue to Fraud, up 94 Percent from 2014, According to Annual LexisNexis True Cost of Fraud Study - "Now in its seventh year, the annual study shows a drastic upswing in retail fraud as merchants lost 1.32 percent of revenue to fraud in 2015 compared to 0.68 percent in 2014. While all merchant segments took a substantial hit on fraud losses as a percentage of revenue, international and mCommerce merchants were hardest hit with 1.56 percent and 1.68 percent lost, respectively."
- Take 5 to Protect Yourself with MasterCard ID Theft Alerts - “We all take smart precautions to protect our personal information in the physical world, like setting up mobile phone locks or putting our personal documents in hotel safes,” said Cheryl Guerin, executive vice president, U.S. Products & Solutions for MasterCard. “It’s just as important in the digital world. ID Theft Alerts and five minutes is all it takes for our cardholders to take control of their identities and fight online fraud.”
- Four Key Customer Experiences Drive Long-term Loyalty for Retailers Synchrony Financial Study Finds - "A study sponsored by Synchrony Financial in May 2015 gathered shopper input on the most and least important elements of their experience, as well as factors that influence purchase decisions and loyalty. The study focused on apparel, department store and mass merchant retailers."
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:
- Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews
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: email@example.com!