ON THE WEB
- The Last Stand of Ken Chenault - Fortune - "The most important endorsement of Chenault has come from someone who is not on the American Express board but happens to be the company’s largest shareholder: Berkshire Hathaway CEO Warren Buffett."
- Facebook is testing social commerce payments in Southeast Asia - TechCrunch - "Facebook is expanding its focus on payments with a new trial in Southeast Asia that allows users to pay for products listed on Facebook Pages with just a few clicks."
- How PayPal's $6.4 Billion Cash Hoard Provides a Leg Up - TheStreet.com - "As PayPal fights for position in the increasingly competitive payments market, it helps that the company's wallet is bulging with $6.4 billion in cash and equivalent investments."
- Here's the one surprising lesson I learned as a victim of debit card fraud - ZDnet - "Over the course of just a few days, a high number of "test transactions" had been made to the account."
ON THE WIRES
- JPMorgan Chase Signs Shell to Multi-Year Agreement to Accept Chase Pay - “Together, we’ll make it easier at Shell stations for the growing number of customers who pay with their mobile phones,” said Tom Nipper, Executive Director of Global Enterprise Solutions for Chase Commerce Solutions. “It will help deepen our relationship with our common customers and reinforce the value of the Fuel Rewards® program.”
- U.S. Bank and MasterCard Bring More Mobile Payment Choices to Customers - “Partnering with MasterCard to bring more mobile payment options to our cardmembers helps make it easier for them to try new ways to pay,” said Clifford Cook, senior vice president for U.S. Bank Retail Payment Solutions.
- Paragon Application Systems Deploys Next Generation Testing Strategy with VirtualATM - "VirtualATM meets this need for a powerful, next generation, automated testing strategy that quickly, effectively and repeatedly tests an unprecedented number of scenarios."
- Card Fraud Costing Issuers $10.9 Billion Annually - "Card fraud is a multibillion-dollar challenge: losses are topped by credit cards, which account for 71 percent ($7.6 billion, or $9 per card) of all card fraud, about three times more than fraud from debit cards."
- Millennials Still Want Credit Cards - "FICO's latest consumer research on finance trends found that 83 percent of Millennials aged 25-34 use credit cards. Moreover, 31 percent of consumers 25-34 years old carry a balance of $1,000-$4,999 over each month, on their credit card."
GLENBROOK PAYMENTS EDUCATION EVENTS
Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!
- Payments Boot Camp - Palo Alto - October 11-12
- Insight Workshop - Palo Alto - Data in Payments - October 13
Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.
UPDATES FROM GLENBROOK
- We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Click here to learn more!
- 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!