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China Unionpay

Welcome to the News View for "China Unionpay".

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

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June 28, 2016

Headline News from PaymentsNews.com - June 28, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Supreme Court to Hear Case on ATM Fees - Wall St. Journal - "The Supreme Court on Tuesday agreed to consider an appeal by Visa Inc., MasterCard Inc. and several leading banks that are challenging lawsuits alleging they conspired to set anticompetitive ATM fees."
  • Here’s How Citigroup Is Embracing the ‘Fintech’ Revolution - Fortune - "The mega-bank needs to counter a new wave of financial technology startups."
  • OpenTable rolls out in-app virtual tab, eliminating on-the-spot mobile payments Mobile Commerce Daily - “With Tab, paying for a meal is easier than ever – you no longer have to touch your wallet or your phone,” said Tomer Molovinsky, product marketing, payments and marketplace innovation at OpenTable.
  • Online shopping forces shift in inventory strategies - Wall St. Journal - "Online shopping “has forced the industry to rethink not only the math and science behind the inventory pool, but also the strategy,” said Scott Fenwick, a senior director at Manhattan Associates Inc., which makes supply-chain software."
  • LendingClub to Cut 12% of Workforce as Loan Volumes Fall - Wall St. Journal - "LendingClub Corp. said Tuesday that it would eliminate about 12% of its workforce, as loan volumes has plummeted in the second quarter following the troubled fintech company’s disclosure that it had made improper loans in order to boost its numbers."
  • Singapore first in Asia to get Android Pay - Channel NewsAsia - "At launch, Android Pay will work with MasterCard and Visa cards from DBS Bank, OCBC Bank, POSB, Standard Chartered Bank and UOB, and there is no limit as to how many cards can be added by the consumer, Google said."
  • Brexit Jobs Threat At Credit Card Giant Visa - Sky News - "No decisions about relocating jobs has been taken and is unlikely to be until the detail of Britain's future trading arrangements with the EU are close to being finalised."

ON THE WIRES

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!

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.

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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 02, 2016

Headline News from PaymentsNews.com - June 2, 2016

ON THE WEB

  • PayPal Isn’t a Bank, But It May Be the New Face of Banking - Wall St. Journal - "The central role PayPal seeks to play in the financial lives of its users shows the rapid evolution of what people think of as banking and could spark many of the world’s largest financial institutions to reconsider their own long-held customer relationships."
  • Digital Wallets: The Honor All Devices Rule - Credit Slips (Adam Levitin) - "The basic issue with digital wallets is that they aren't all the same in terms of costs and benefits, but merchants have to accept them equal on an all-or-nothing basis."
  • PayPal's mission to diversify, one mom at a time - CNET - "PayPal plans to open up Recharge to more groups, hoping to make the company more diverse and provide opportunities to experienced workers, such as veterans, who are often overlooked."

ON THE WIRES

  • ACI Worldwide Simplifies and Expedites Secure eCommerce Payments for Global Merchants - "The SaaS-based UP eCommerce Payments solution is the realization of ACI’s eCommerce strategy, which began with the 2014 acquisition of Retail Decisions (ReD) and its market-leading solution for preventing and managing eCommerce fraud. In 2015, ACI acquired PAY.ON and its robust global eCommerce payment gateway solution."
  • ATMIA Releases Industry Report on Operation Choke Point - "Sponsored by the U.S. Independent ATM Deployer Committee, the report details the issues the ATM industry has faced due to Operation Choke Point (OCP) and how independent ATM deployers (IAD) can protect their businesses and respond to bank inquiries."
  • UnionPay becomes the official payment brand for the Great Singapore Sale 2016 - "On June 2, UnionPay International and Singapore Retailers Association jointly announced that UnionPay will become the only official payment brand for GSS from 2016 to 2018. During the GSS, over 100 local merchants will provide exclusive offers and privileges for UnionPay cards."

PAYMENTS IN PORTLAND

  • Join us for the next Payments in Portland (Oregon) event being held on Tuesday, June 7th. Details here!

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!

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

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!

May 26, 2016

Headline News from PaymentsNews.com - May 26, 2016

ON THE WEB

ON THE WIRES

PAYMENTS IN PORTLAND

  • Join us for the next Payments in Portland (Oregon) event being held on Tuesday, June 7th. Details here!

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!

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

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!

May 19, 2016

Headline News from PaymentsNews.com - May 19, 2016

ON THE WEB

  • Thunder, Lightning and Interledger - Medium (Adrian Hope-Bailie) - "It’s still very early to tell, but on first appraisal, it looks like Blockchain has taken a great stride in fixing a major limiting factor of Bitcoin and one that made it very difficult to use Bitcoin with Interledger; transaction speed."
  • Android Pay wants to streamline Web payments and customer signups - ArsTechnica - "In a call with Ars on Tuesday, Senior Director of Product Management for Android Pay Pali Bhat said that the Android Pay team has been working to increase user signups and encourage continued use of the platform, something that all mobile payment platforms have struggled with in the last five years."
  • Google Home: A Voice-Activated Device That Already Knows You - New York Times - “Before I got an [Amazon] Echo I thought it was a joke and a bad idea,” said Gene Munster, an analyst with Piper Jaffray. “But I saw the utility and ended up buying five of them for my family.”
  • Android Pay now in the UK, new countries on the way - Android Official Blog - "You will be able to use Android Pay everywhere contactless payments are accepted including your favourite high street stores like Boots, Starbucks and Waitrose and pay for the Tube, bus and train with Transport for London."

ON THE WIRES

  • Chime Brings Apple Pay to Members, Adds 'Pay Friends' Feature and Closes $9MM in Financing - "The mobile banking company also closed an additional $9 million of funding and has raised a total of $21 million to date. Lauren Kolodny, recently named to the Forbes 30 under 30 Venture Capital list, led the financing for Aspect Ventures and has joined Chime's board."
  • Vocalink Signs Deal With Unionpay International - "Under the deal, VocaLink will provide ATM transaction processing and UnionPay sponsored access, providing acquirers with a fast go to market solution, which allows them to accept transactions from a growing market. On average, the value of UnionPay card withdrawals from UK ATMs are five times the average value of UK ATM withdrawals."
  • ATM is a New Skimmer: Crooks Bring ATMs on Their Side - "The Skimer group starts its operations by getting access to the ATM system - either through physical access, or via the bank's internal network."

PAYMENTS IN PORTLAND

  • Join us for the next Payments in Portland (Oregon) event being held on Tuesday, June 7th. Details here!

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!

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

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!

May 17, 2016

Headline News from PaymentsNews.com - May 17, 2016

ON THE WEB

ON THE WIRES

PAYMENTS IN PORTLAND

  • Join us for the next Payments in Portland (Oregon) event being held on Tuesday, June 7th. Details here!

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!

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

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!

March 22, 2016

Headline News from PaymentsNews.com - March 22, 2016

ON THE WEB

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming up in early April - both in New York City - we hope to see you there!

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

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!

March 09, 2016

Headline News from PaymentsNews.com - March 9, 2016

ON THE WEB

ON THE WIRES

  • TSYS Appoints Pamela Joseph President and COO - “I have known and done business with TSYS for more than twenty years and am thrilled to be joining the team. TSYS clearly has best in class technology platforms and a blue chip customer roster. I look forward to driving additional client and partner benefits through product innovation and service enhancements,” commented Joseph.
  • Early Warning Launches Real-Time P2P Payments with Bank of America, U.S. Bank - “Bank of America is committed to being a leader in payments and making it easier than ever for our clients to manage their finances,” said Thong Nguyen, president of retail banking at Bank of America. “We’re focused on creating a simple, straightforward person-to-person payments experience that lets our customers pay anyone with a couple of easy, intuitive steps.”
  • UnionPay International Accelerates Mobile QuickPass Expansion Overseas--180,000 POS terminals ready - "Nearly 180,000 POS terminals in Hong Kong, Macao, Taiwan, South Korea, Australia, New Zealand, Singapore accept UnionPay chip cards with "QuickPass" signage and various mobile QuickPass-enabled products. The overseas transaction volume of UnionPay QuickPass grew 8 times in 2015, and is growing rapidly this year."
  • Leading UK Online Retailer Shop Direct Uses FICO Technology to Help Prevent Fraud - "As the UK's second-largest pure-play online retailer, we're protecting not only our revenues and our customers but also our brands," said Neil Chandler, Shop Direct's CEO for Financial Services. "We have a very successful partnership with FICO for fraud protection, customer management and decision optimization. FICO analytics and tools are exactly what we need to protect our customers."
  • Chargebacks911: New Technologies Fuelling Rise In Customer Chargebacks - “The pressure on banks to resolve disputes faster is causing an imbalance in an industry that is almost always favourable to the consumer. 50% of cardholders who file a dispute will do it again within 90 days. This essentially means that issuers and cardholders are being rewarded for initiating illegitimate chargebacks, with processors ultimately penalised along with their merchants.”
  • FTC Action Leads to Court Orders Against Scheme That Charged Millions of Dollars to Consumers' Bank and Credit Card Accounts Without Their Consent - “These defendants bought sensitive personal information from data brokers and used it to steal people’s money,” said Jessica Rich, Director of the FTC’s Bureau of Consumer Protection. “Misusing sensitive data causes real harm to consumers, and I’m pleased that the court banned the defendants from this conduct.”

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming up in early April - both in New York City - we hope to see you there!

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

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 25, 2016

Headline News from PaymentsNews.com - February 25, 2016

ON THE WEB

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming up in early April - both in New York City - we hope to see you there!

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

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 18, 2015

Headline News from PaymentsNews.com - December 18, 2015

On the Web

On the Wires

  • Apple & China UnionPay to Bring Apple Pay to China - “Apple Pay has revolutionized the way millions of people pay every day with their iPhone, Apple Watch and iPad,” said Eddy Cue, Apple’s senior vice president of Internet Software and Services. “China is an extremely important market for Apple and with China UnionPay and support from 15 of China’s leading banks, users will soon have a convenient, private and secure payment experience.”
  • CPA Releases Multi-Year Data on Canadian Payment Methods and Trends - "The research provides important insights for the industry and the Canadian Payments Association as we look to modernize the country's clearing and settlement systems," said Gerry Gaetz, President and CEO of the CPA. "While traditional payments clearly continue to fill a vital role, the data shows an accelerating shift to new channels for electronic payments."

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 17, 2015

Headline News from PaymentsNews.com - December 17, 2015

On the Web

On the Wires

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 15, 2015

Headline News from PaymentsNews.com - December 15, 2015

On the Web

On the Wires

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 23, 2015

Headline News from PaymentsNews.com - November 23, 2015

On the Web

  • How the payments industry is being disrupted - McKinsey - "Setting aside changes in macroeconomic fundamentals that are difficult to predict, we foresee four potential disruptions that will alter the payments landscape in the coming years..."
  • Digital Currencies - Bank for International Settlements (BIS) - "Such technology may have potential to improve some aspects of the efficiency of payment services and financial market infrastructures (FMIs) in general. In particular, these improvements might arise in circumstances where intermediation through a central party is not currently cost-effective. This report considers the possible implications of interest to central banks arising from these innovations."
  • iPhone - Guided Tour: Apple Pay - YouTube - "See how easy it is to set up Apple Pay and make quick, secure and private payments from your iPhone."
  • New Visa ad campaign for Apple Pay starts today in the UK with ‘anticipation’ theme - 9to5Mac - "Alongside a MasterCard promo offering free travel in London, Visa Europe is today launching a two-month long ad campaign designed to emphasize the speed, ease and reliability of the service."
  • Samsung will give you a $50 Best Buy gift card if you activate Samsung Pay - 9to5 Google - "Samsung really wants you to use its new payments service, and they’re even willing to give you a $50 Best Buy gift card if you get on board."
  • U.S. travelers in Cuba can now use Stonegate Bank debit card - Miami Herald - "Pompano Beach-based Stonegate Bank announced Thursday that it will offer customers a debit MasterCard that can be used in Cuba by Americans who qualify to visit the island under one of 12 categories of travel approved by the U.S government."

On the Wires

  • Diebold and Wincor Nixdorf to Combine, Creating Premier Self-Service Company for Financial and Retail Markets - “The rate of change we see in our industry is unprecedented, and by leveraging innovative solutions and talent from both organizations we will have the scale, strength and flexibility to help our customers through their own business transformation,” said Andy W. Mattes, Diebold president and chief executive officer (CEO). “Our new company will be well positioned for growth in high-value services and software -- particularly in the areas of managed services, branch automation, mobile and omnichannel solutions -- across a broader customer base."
  • UnionPay Ranks No.1 among All Newly-issued Bankcards in Hong Kong - "According to the latest data, the commercial banks in Hong Kong are very enthusiastic about issuing UnionPay cards. In 2014, UnionPay credit cards took up over 50% of all credit cards newly increased by various brands locally. Over 90% of the debit cards in circulation are UnionPay cards."
  • U.S. Bank Supports United States Marine Corps Toys for Tots Campaign; Announces Additional Donation Opportunity with Apple Pay - “U.S. Bank is focused on making it easier and more convenient for our customers to do business with us and the businesses where they shop,” said Cliff Cook, Senior Vice President for U.S. Bank Retail Payment Solutions. “This holiday season, we’re encouraging customers to try using Apple Pay™ and at the same time support the Toys for Tots campaign. Joining us in promoting this additional donation opportunity with Apple Pay are more than 140 small businesses in the Twin Cities and we appreciate their support.”
  • Chase Visa cardholders can now use Samsung Pay - “Samsung Pay gives our customers another convenient way to pay with their Chase Visa credit, debit or Chase Liquid® cards,” said Gavin Michael, Head of Digital for Chase. “They choose how they want to pay.”
  • Chase Freedom Survey Reveals Americans’ Holiday Shopping Habits; Cardholders Can Earn 10% Cash Back at Amazon.com Starting 11/23 - "In time to help holiday shoppers tick through shopping lists while saving time and earning cash back that can be put toward something fun for themselves, Chase Freedom will offer cardholders an extra 5% cash back (for a total of 10%) on up to $1,500 in new combined purchases at Amazon.com, Zappos.com, Diapers.com and Audible.com from November 23 through December 31."
  • Samsung Pay Adds Eight More Credit and Debit Card Issuers Including Chase - "Samsung Electronics Co., Ltd. announced today that Samsung Pay, the most accepted mobile payment system, now supports eligible Chase Visa® credit, debit and Liquid® cards, as well as debit and credit offerings from MasterCard issuers: Citizens Equity First Credit Union, Randolph-Brooks Federal Credit Union, Security Service Federal Credit Union, State Employees’ Credit Union, SunTrust and Virginia Credit Union."
  • Xero launches Apple Watch app - "Expanding on Xero’s apps for iPhone and iPad, Xero for Apple Watch also enables business owners to Xero in on bank transactions to see who's paid them, and the amount."

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 30, 2015

Headline News from PaymentsNews.com - October 30, 2015

What I'm Reading

  • This weekend your editor will be reading If You Really Want to Change the World: A Guide to Creating, Building, and Sustaining Breakthrough Ventures by Henry Kressel and Norman Winarsky. From the book's description: "Drawing on the authors’ experiences as well as those of their partners from around the world, Kressel and Winarsky share the stories of their triumphs and misses, demonstrate their method in action, and inspire their readers in the process. There are more opportunities now than ever before to build breakthrough companies that touch millions of lives. If this is your goal, let this book be your guide to creating world-changing ventures."
  • How about you? What are you reading? Drop me a quick note and tell me about it: editor@paymentsnews.com

On the Web

  • Visa Nears $22 Billion Deal to Buy European Counterpart - "The Foster City, Calif.-based payments network is in advanced negotiations to buy its European counterpart—Visa Europe—for about $22 billion in a deal that would unite Visa’s global operations under one roof, according to people familiar with the matter."
  • Heartland CEO: Blockchain Could Power Trillions in Bank Transactions - "It seems to me that the play is for banks [to use blockchain] to settle between themselves. There’s trillions in very high-end transactions going back and forth across borders between businesses," he said, adding without any real vigor: "That might be the breakthrough."
  • Fidelity Launches Fidelity App for Apple TV - "Starting today, the Fidelity App for Apple TV® is available on the all-new Apple TV, giving investors a new, convenient way to keep tabs on the markets and generate investing ideas. Fidelity is one of the first brokerage firms to offer an app for Apple TV, which owners of the new Apple TV can download on the App Store for Apple TV. Users can navigate the Apple TV app with its Siri Remote to display a variety of market data."

On the Wires

  • MCX CEO Brian Mooney Discusses New Partnership with Chase to Enhance CurrentC™ for Consumers - "Discussing MCX’s progress in bringing CurrentC™ to market, including its ongoing public beta, Mooney noted that the company continues to gather valuable insights from Columbus consumers, who can use the platform at more than 200 participating retail locations, including local CVS/pharmacy, Exxon, Giant Eagle and Giant Eagle Market District, Kmart, Mobil, Sam’s Club, Sears, Target, Walmart and Wendy’s locations. The beta will soon expand to include select local Shell fuel stations."
  • Heartland Acquires Digital Dining - "Headquartered in Springfield, Virginia, Digital Dining offers restaurants the convenience of a handheld POS on an iPad, iPhone, iPod and iPad Mini in a hybrid environment with conventional fixed terminals. Digital Dining is also used by restaurateurs for table management, delivery, reservations, labor scheduling, inventory and loyalty programs."
  • UnionPay International Launches mPOS Service in Pakistan - "This is an important progress of UnionPay International aiming at promoting innovative payment solutions in markets where the payment industry is still at an early stage of development. The Mobile POS solution, characterized with lost cost and high security features, will enable more small and medium businesses in Pakistan to accept UnionPay cards, and will expand use scenarios of UnionPay cards by local residents and business travelers to Pakistan."

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 12, 2015

Headline News from PaymentsNews.com - August 12, 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!

August 04, 2015

Headline News from PaymentsNews.com - August 4, 2015

On the Web:

  • U.S. Judge Rejects American Express Class Action Settlement - New York Times - "A U.S. judge on Tuesday rejected a proposed class action settlement between American Express Co and merchants who sued the company over swipe fees, ruling that a lawyer for the merchants compromised the fairness of the agreement."
  • China Proposes to Keep Online Payments in Check - Wall St. Journal - "The draft rules issued late Friday by China’s central bank place curbs on online payment services—limiting fund transfers, capping the size of daily transactions and increasing the requirements users must meet to prove their identities."
  • On Native Bitcoin Apps, Open Source Communities, and What Happened Before Satoshi Nakamoto Vanished - A16Z Blog - "This year, Switzerland-based bitcoin core developer Mike Hearn is an Andreessen Horowitz’ “developer in residence”, part of an effort to engage open source communities and especially focus on native applications built on top of bitcoin."
  • Using Distributed Ledgers as a Payment System - Phil Kenworthy - "The big step would be to extend the model so that the Banks would not just operate their own ledgers but that for the broader banking community. The Payment System would then become the network and rules mechanism by which the transactions would take place."

On the Wires:

  • PayPal Appoints New Chief Financial Officer - "PayPal Holdings, Inc. today announced John D. Rainey is joining the digital payments leader as its new Chief Financial Officer (CFO), effective August 24, 2015. Rainey joins PayPal from United Continental Holdings, Inc. where he was Executive Vice President and CFO at United Airlines."
  • Pivotal Payments becomes Principal Member of UnionPay International - "We're delighted to be able to partner with UnionPay in providing high quality, cost effective and secure cross-border payment services, putting our clients on a newly expanded global footing," said Philip Fayer, president and chief executive officer of Pivotal Payments. "We are not only providing our merchants with flexible payment solutions but accessibility to a much larger consumer market with a significant level of disposable income."

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!

April 20, 2015

Headline News from PaymentsNews.com - April 20, 2015

On the Web:

  • The Year Of Mobile Payments - TechCrunch - "Expectations have changed. The proliferation of mobile money services shows that people – even the unbanked – demand better than the lengthy queues, cumbersome processes, and high fees offered by the incumbent international money transfer “super racket.”"
  • ICICI Bank launches ‘Tap n Pay’, a contactless payment service in arrangement with Tech Mahindra - Telecom Tiger - "‘Tap n Pay’ is a prepaid account, which can be availed by customers of any bank by simply registering for it and transferring money online from any bank account. ICICI Bank customers can also transfer money to the Tap-n-Pay account through an SMS. To start with, this solution is being offered at large campuses of corporate offices."
  • Samsung SDS enters biometric security business - Korea Times - "This system will be applied to all devices that need to receive user authorization such as smartphones, vehicles, IoT-based devices, door locks, smart homes, shopping, transaction and financial products," Kim said. "All corporate clients in those areas are our potential customers."
  • Westpac boss sees NZ as innovation lab - New Zealand Herald - "Westpac Group chief executive Brian Hartzer has embarked on a mission to transform the bank into a world-leading service company, with the Kiwi operations playing a Trojan horse role when it comes to innovations."
  • New Law to Strip Social Security Numbers From Medicare Cards - New York Times - “The Social Security number is the key to identity theft, and thieves are having a field day with seniors’ Medicare cards,” said Representative Sam Johnson, Republican of Texas...

On the Wires:

  • Verifone selects Thales to protect card holder data - "Thales, leader in critical information systems and cybersecurity, announces that Verifone now uses Thales nShield hardware security modules (HSMs) for its end-to-end payment encryption solution – VeriShield Total Protect – to provide robust, high speed, scalable crypto to protect card holder data, whether transmitted from a card or mobile device, right from the moment of capture."
  • GlobeOne Announces LOI with MetaBank to Bring New Mobile Banking Network to United States - "GlobeOne expects to launch in the United States and Mexico in the fourth quarter of 2015, and it will expand its integrated global network as new banking partners are secured around the world. GlobeOne’s innovative app will offer a no-minimum demand deposit account with debit card, a security savings account, a line of credit, domestic and international transfers between GlobeOne members, and access to the global income-building SocialBoost program, which gives members the opportunity to earn a new income stream while helping those who need it most."
  • WEX Virtual Payments Expands Currency Offering in Europe - Myles Stephenson, managing director of WEX Europe said, “We’ve listened to our customers’ needs and business challenges, and implemented a solution that provides even more cost-effective ways to make international payments. This update enables WEX Europe customers to pay their global suppliers in local currencies more efficiently.”
  • Entrust Datacard Enters Strategic Partnership with Financial Software and Systems (FSS) - Commenting on the partnership, Nagaraj Mylandla, managing director of FSS, said, “FSS has always been on the forefront of bringing new technologies to the payments domain in India. Today, banks in India are focusing on new technologies to build a deeper engagement with their customers. The hosted instant card issuance solution that we are introducing through our partnership with Entrust Datacard is one such technology that will assist banks in India to achieve service excellence.”
  • EastPay Launches Subsidiary, EastPay Advisory Services - "EastPay, a Regional Payments Association, has announced the formation of EastPay Advisory Services, a wholly-owned subsidiary that will provide payments risk management, compliance, and consulting services to financial institutions and businesses."

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!

April 14, 2015

Headline News from PaymentsNews.com - April 14, 2015

On the Web:

On the Wires:

  • JPMorgan Chase Reports First-Quarter 2015 Net Income of $5.9 Billion - Jamie Dimon concluded: “JPMorgan Chase continues to support consumers, businesses and communities and make a significant positive impact. We have an outstanding franchise which is getting safer and stronger, and is gaining market share over time. We continue to build the company for the long-term, we are investing in controls, infrastructure, systems, technology, new products and bankers. We will continue to navigate challenges and deliver for our clients, shareholders and communities.”
  • Wells Fargo Reports $5.8 Billion in Net Income - “Our solid first quarter results again reflected the benefit of our diversified business model and the continued focus of our 266,000 team members on serving the needs of consumer and business customers," said Chairman and CEO John Stumpf. “We continued to strengthen our customer relationships in the quarter, as reflected in strong growth in deposits and primary checking customers. In addition, our mortgage business was able to serve more customers by refinancing their mortgage loans with lower rates."
  • Early Warning and BioCatch Align to Help U.S. Financial Services Organizations Fight Fraud and Improve Digital Experience - “Early Warning has taken yet another fundamental and unparalleled step in securing and optimizing digital financial transactions,” said Paul Finch, CEO of Early Warning. “Integrating BioCatch’s behavior analytics, plus our ability to authenticate consumers and their devices via the Mobile Network Operators, enables participating banks to provide a more seamless and secure digital experience for their customers as well as increase their own operational efficiencies.”
  • U.S. Bank Introduces Virtual Payment for Travel Intermediaries - “Automatic reconciliation is critical to our partnership with travel intermediaries,” adds Jeff Rankin, U.S. Bank global executive for Large Market and Public Sector Bankcard. “Our single-use account solution provides an alternative to central travel accounts, creating a 1:1 relationship between the booking data and the transaction data and reducing overhead. We are pleased to bring these capabilities to our clients and see their businesses grow as they serve their global customers in new and better ways.”
  • Synchrony Financial and Guitar Center to Introduce New Consumer Financing Program - "According to Synchrony Financial’s third annual Major Purchase Consumer Study, 72 percent of music shoppers always seek promotional financing, and 77 percent of respondents said that the availability of financing is “very important” when choosing a retailer. Musical instruments and gear also lead online purchases across the 12 categories included in the study."
  • New TNS Card Scheme Gateway Set to Accelerate UnionPay Acceptance Worldwide - Lisa Shipley, Executive Vice President and Managing Director of TNS’ PaymentNetwork Solutions, said: “We’re delighted to have secured this arrangement with UnionPay to establish this gateway to promote in-store card acceptance internationally. UnionPay is a significant player within the card industry globally and merchants and banks have long recognized the importance of being able to accept payments made via its card."
  • Kofax and Blackhawk Network Announce OEM Agreement - "Blackhawk Network has developed strong relationships with major retailers and payment systems which gives it a competitive edge in supporting digital wallets," stated Drew Hyatt, Senior Vice President of Mobile Capture Applications at Kofax. "Kofax Mobile Capture adds valuable user functionality to GoWallet and to Blackhawk Network’s digital platform, and benefits Kofax by adding Blackhawk to our growing list of mobile industry leaders.”

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!

February 11, 2015

Headline News from PaymentsNews.com - February 11, 2015

On the Web:

On the Wires:

Glenbrook's 2015 Payments Education Schedule Now Available!

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, 2015

Headline News from PaymentsNews.com - February 2, 2015

On the Web:

  • Apple on privacy, security and identity - Benedict Evans - "But if Apple did connect the dots to create an identity product, and could remove enough friction and pain to make it compelling, then talking about privacy would make much more sense, because at that point privacy, security and identity become part of the same product conversation."
  • Big Layoffs Begin at eBay and PayPal - Re/code.net - "The cuts come a few weeks after eBay announced it would cut 2,400 jobs across the entire company by the end of the quarter."
  • Small Banks Score Gains in Lifting Regulation - Wall St. Journal - "Since the 2010 Dodd-Frank law ushered in a spate of new regulations, community bankers have fanned out across Washington to emphasize the differences between small “Main Street” banks focused on local lending and Wall Street firms they say are fixated on transaction volume."
  • Does Bitcoin still matter? - CBS News - "Bitcoin has a sales job to getting people to trust it, which is ironic because it was set up to be a trustless system," said Paul Vigna...
  • Cash Is Definitely Not King For Card-Carrying Swedes - NPR - "Around the world, cash is fading. Electronic transactions are becoming a bigger part of the economy every year. And one of the leaders in this trend is Sweden, where more than 95 percent of transactions are digital."

On the Wires:

  • Visa Inc. Appoints Vasant M. Prabhu as Chief Financial Officer - “After a thorough global search, we are thrilled to have Vasant join the Visa leadership team,” said Charlie Scharf, Chief Executive Officer of Visa Inc. “Vasant is a seasoned executive with a wealth of experience across a wide range of global businesses. His financial leadership, operational abilities, strategic focus and global mindset will be extraordinarily valuable to us, as we continue to grow our business around the world.”
  • ETA Launches Digital Currency Showcase at TRANSACT 15 - "ETA is at the forefront of payments technology, and TRANSACT 15 is our industry's most important event," said Jason Oxman, CEO of ETA. "With the launch of our World of Bitcoin showcase, and our partnership with BitPay to accept bitcoin payments, TRANSACT 15 is now the place to be for digital currency in 2015."
  • Xoom Launches Instant Money Transfer Service to China, Processed Through UnionPay - "This instant bank deposit service allows Chinese immigrants with a U.S. bank account, credit card, or debit card to conveniently send money online to most bank accounts in China within seconds. With the addition of China, Xoom’s money transfer service now reaches 31 countries worldwide."
  • ATMIA Releases the Results of Its New ATM Channel EMV Readiness Survey - "One of the key findings of the survey is that, as of the end of 2014, 65% of respondents report having at least one ATM capable of handling EMV transactions. This is more than a four-fold increase over the April, 2013 results, which found that only 12% of operators could make that claim. Further, 61% of all operators anticipate that by the end of 2016, which is the general timeframe of the first domestic liability shift for ATM acquirers, the vast majority of their ATMs will be capable of handling EMV transactions."
  • Millennials Make 2015 the Year of the Milestone - "It’s been widely reported that for many Millennials, “30 is the new 20,” with many delaying major life milestones, like full-time employment, marriage and having children. However, recent data from the American Express Spending & Saving Tracker suggests that as the economy continues to recover, Millennials will make 2015 a year of major purchases and life experiences."
  • U.S. Bank Announces 2015 "Dynamic Dozen" - “We place tremendous value on the potential of the millennial generation and this group is instrumental in making U.S. Bank relevant to current and future millennial customers and employees,” said Kent Stone, vice chairman of consumer banking for U.S. Bancorp, and one of the program’s executive sponsors.

Glenbrook's 2015 Payments Education Schedule Now Available!

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 17, 2014

Headline News from PaymentsNews.com - November 17, 2014

On the Web:

On the Wires:

  • Apple Adds UnionPay Payment Option for App Store Customers in China - “The ability to buy apps and make purchases using UnionPay cards has been one of the most requested features from our customers in China,” said Eddy Cue, Apple’s senior vice president of Internet Software and Services. “China is already our second largest market for app downloads, and now we’re providing users with an incredibly convenient way to purchase their favorite apps with just one-tap.”
  • Blockstream closes $21M seed round - "I’m excited to announce today Blockstream closed a $21 million seed round. Our nearly 40 investors include many well-known pioneers of the Internet and financial services sectors."
  • Scripps Networks Interactive and Hearst Magazines Create Original Cross-Platform Content Partnership to Support the Launch of the Citi® Double Cash Card - "Citi, Scripps Networks Interactive and Hearst Magazines today announced a cross-platform marketing relationship that presents seasonal cooking, entertaining and gifting ideas across Food Network and HGTV digital and magazine properties to support the launch of the Citi Double Cash Card."
  • MoneyPass Network Partners with MasterCard on U.S. Common Debit AID Solution - “Our collaboration with MasterCard will enable the MoneyPass Network to process chip-based ATM transactions on MasterCard Debit cards,” said Troy Cullen, President of Elan Financial Services. “We are confident the agreement we have reached with MasterCard will further expand EMV adoption goals within the United States."
  • Dollar General Now Accepting American Express - “We strive to provide our customers with a simple and hassle-free shopping experience,” said Todd Vasos, Dollar General’s chief operating officer. “The acceptance of the American Express card makes shopping even easier by offering additional flexibility in customers’ payment choices and is consistent with many of our new initiatives, including DG Digital Coupons, which are all aimed at making it easy to save time and save money at Dollar General.”

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 27, 2014

Headline News from PaymentsNews.com - August 27, 2014

On the Web:

On the Wires:

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!

April 09, 2014

Headline News from PaymentsNews.com - April 9, 2014

On the Web:

On the Wires:

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!

March 07, 2014

Headline News from PaymentsNews.com - March 7, 2014

On Twitter:

On the Web:

On the Wires:

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!

March 03, 2014

Headline News from PaymentsNews.com - March 3, 2014

Glenbrook's Payments Insight Workshop series this spring focuses on three key topics for payments professionals: Bitcoin - Basics and Beyond (March 26), Data in Payments (April 22) and Innovation in Payments (May 8).

On the Web:

On the Wires:

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 20, 2014

Headline News from PaymentsNews.com - February 20, 2014

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. The ebook versions are priced at US$9.99.

On the Web:

On the Wires:

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 02, 2014

Headline News from PaymentsNews.com - January 2, 2014

Next Glenbrook Payments Boot Camps: Feb 4-5 in Palo Alto, CA; March 18-19 in New York City. Alternatively, you can request a private Payments Workshop held on-site at your location.

On the Web:

On the Wires:

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, 2013

Headline News from PaymentsNews.com - November 18, 2013

On the web:

On the wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

August 28, 2013

Headline News from PaymentsNews.com - August 28, 2013

On the web:

On the wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

May 20, 2013

China UnionPay Joins EMVCo

EMVCo has announced that China UnionPay has joined as its latest member. According to the organization, "the addition of this global payment card system demonstrates the industry’s continued commitment globally to adopting and advancing the EMV standard for secure chip credit and debit payments."

Joe Cunningham, Current EMVCo Executive Committee Chair, commented:

EMVCo works to maintain, enhance and evolve EMV Specifications to continue offering secure and interoperable payments across the global payments industry. We are delighted to welcome UnionPay as a member and active contributor to this work. UnionPay’s addition as an equity member of EMVCo further reinforces the growth of the EMV standard globally. Its expertise at a technical, management and implementation level will support our ongoing goal to create a universally consistent and secure infrastructure that supports contact, contactless and mobile chip-based payments into the future.”
UnionPay now has an equal interest in the standards body - along with American Express, JCB, MasterCard and Visa.

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