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Commercial Payments

Welcome to the News View for "Commercial Payments".

Here, on these archive pages, you'll find all of the articles on Payments News for Commercial Payments 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 17, 2016

Headline News from PaymentsNews.com - June 17, 2016

Headline News is brought to you by RS Software. To learn more about why RS Software is the choice for leading payments companies around the world, click here!

ON THE WEB

ON THE WIRES

  • Wells Fargo Payment Manager® Helps Businesses Digitize Payments"Payment Manager B2P, which is expected to roll out in early 2017, enables businesses to pay any consumer who has a U.S. bank account without collecting or storing sensitive bank account information. The service only requires the customers’ email address or mobile phone number and any accompanying remittance details to conduct a transaction."

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!

June 06, 2016

Headline News from PaymentsNews.com - June 6, 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 25, 2016

Headline News from PaymentsNews.com - May 25, 2016

ON THE WEB

  • Blockchain Technology: Possibilities for the U.S. Postal Service - US Postal Service Inspector General - "This paper takes an exploratory look at the technology and suggests that it may be wise for the Postal Service to explore and possibly experiment with blockchain technology in order to gain a better understanding of its potential impacts. The Postal Service could begin experimenting with financial applications and then naturally expand into other applications enabled by the technology."
  • India’s Central Bank Says a Third of ATMs It Surveyed Don’t Work - Wall St. Journal - "When the Reserve Bank of India recently surveyed 4,000-odd ATM machines across the country, they found that a third weren’t working, the central bank’s Deputy Governor S.S. Mundra said this week."
  • Money transfer company TransferWise raises further $26M at $1.1B valuation - TechCrunch - "Described as ‘top-up funding’, the $26 million round was led by investment management firm Baillie Gifford, with participation from existing investors."

ON THE WIRES

  • Tipalti Releases First-Ever Platform to Automate the Entire Accounts Payable Workflow - "For businesses looking to scale for growth without incurring additional AP staff, automating supplier payment operations are critical. Not only do finance organizations need to contend with automated invoice workflow and complex remittance processes, they need to employ best practice financial and compliance controls to reduce risk," said Chen Amit, CEO and Co-founder of Tipalti.
  • Align Obtains Insurance Covering Multi-Rail, Blockchain Payments - “Our new transaction protections further strengthen Align’s promise to provide the best possible experience for our clients, built on a foundation of trust and security,” said Align Commerce CEO and Co-founder Marwan Forzley. “Align’s policies extend to all means by which Align elects to fulfill customer transactions, including the blockchain, which we believe is an industry first.”
  • Dashlane Raises $22.5 Million in Series C Funding; Announces Strategic Partnership with TransUnion - "The company can also announce that Carl Pascarella, former CEO of Visa Inc. (NYSE: V), has joined its board as an independent director. "Dashlane's ability to facilitate payments and help reduce fraud is uniquely relevant for financial institutions," said Pascarella. "I am excited to have an opportunity to lend my experience to help the team at Dashlane accomplish their vision for secure information and online payments.""
  • New Spanish Payment Platform Bitnovo Allows Customers to Access Funds Directly From Their Bitcoin Wallet Using Debit Card - "Bitnovo´s prepaid debit cards are already available in euro denomination; these prepaid debit cards can be instantly charged with a simple Bitcoin transaction. The funds will be available for use as soon as the transaction is validated by the blockchain."
  • Balance Credit Launches Convenient Cash Payment System - “We are pleased with this expansion of our servicing options with MoneyGram and PayNearMe. Balance Credit customers can now make payments 24/7 right in their neighborhoods at locations which are convenient to where they shop, live or work," stated Gena Evertson, COO of Balance Credit.
  • FreshBooks Releases Credit Card Reader for Small Business Android Users - "This release follows the launch of the FreshBooks Card Reader for iOS earlier this year. In February, FreshBooks noted that more than 68% of the Card Reader's earliest users were already using EMV chip technology and similar high adoption rates are expected for Android users."

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 23, 2016

Headline News from PaymentsNews.com - May 23, 2016

ON THE WEB

  • Walmart Pay and the overcrowding of the mobile payment market - Tradestreaming - "Allen Weinberg, a partner at Glenbrook Partners, a payment strategy consulting firm based in San Francisco, CA., cautioned Tradestreaming that it’s premature to mourn MCX or CurrentC, given that Walmart has not formally abandoned the initiative."
  • Japan ATM heist reportedly involved 100 people who stole $12.7 million - ArsTechnica - "The thieves apparently went to ATMs like those found in 7-11s across Japan and swiped counterfeit South African credit cards, created using information from cards issued by South Africa's Standard Bank."
  • Bitcoin Catches On With Gold Bugs - Wall St. Journal - "In times of financial turmoil, I would prefer to see a portfolio full of bitcoin,” said Mr. Sukumar, who holds about one-third of his wealth in the digital currency.
  • Sydney Stock Exchange's blockchain system targets venture capital funds, commodities - Sydney Morning Herald - "Two-year-old Sydney Stock Exchange is building a blockchain settlement system to avoid high ASX fees and build a market for venture capital funds to exit their investments and commodities markets."
  • What The Mark Of The Beast Taught Me About The Future Of Money - BuzzFeed - "Silicon Valley has sold us on a cashless, cardless, walletless, supposedly frictionless future — but as I learned living in it for a month, we’re not quite there yet."
  • UK: Debit cards 'set to overtake cash' as most used payment method by 2021 - Telegraph (UK) - "Payments UK said card use is being boosted by the rising popularity of contactless "tap and go" payments, with mobile payment services such as Apple Pay and Android Pay also providing new opportunities for people to make payments without even needing their plastic to hand."
  • M-PESA founders to receive Africa’s financial inclusion medal of honor - Capital Business - "Michael Joseph, the Managing Director of Mobile Money at Vodafone and previously, the CEO of Safaricom Limited, Nick Hughes Co-Founder M-KOPA and former Head of Mobile Payment Solutions at Vodafone and Susie Lonie Mobile Payments Consultant at SJL Consulting Services will receive Africa’s Financial Medal of Honor on 17th August at Serena Kampala."
  • PayPal Co-Founder Peter Thiel Urges Class of 2016 to “Do What Hasn’t Been Done” - Hamilton College News - "He recalled that when the PayPal founders told members of the global financial industry about their plan, those with more experience were certain that the new company could never work. “They were wrong; people around the world now rely on PayPal to move more than $200 billion every year…We learned that doing new things is difficult, but it is possible,” Thiel remarked."

ON THE WIRES

  • TSYS Introduces New Innovative Virtual Payment Solution - "TSYS Virtual Payment PreceptSM (VPP) is an innovative new solution that reduces risk, improves operational efficiency and greatly increases control over accounts payable and accounts receivable payments and reconciliation. VPP leverages existing TSYS technology with an improved processing design to deliver secure, virtual single-use accounts in real time with enhanced control over account and transactional base parameters."
  • MasterCard Puts New Cutting-Edge Fraud Prevention Tool into The Hands of Small Business Owners - "With a mobile app and desktop dashboard, merchants can easily and quickly customize their fraud settings – such as transaction size, country of origin and repeat transactions. Simplify Controls then auto-declines transactions to meet their risk tolerance and provides merchants with smart alerts so they can stay on top of potentially fraudulent activity."
  • BlueSnap & Kount Give Merchants the Data to Optimize Their Sales Funnel - "Anytime we can help merchants sell more things to more people in more places while reducing the risk of loss that is sometimes associated with increased sales, growth and expansion, everyone wins,” said Brad Wiskirchen, CEO, Kount. “The fact that BlueSnap has developed a report to assist their merchant base achieve these goals really shows the power of our collaboration.”
  • INSIDE Secure’s MatrixHCE™ Integrates Visa’s Token Services for HCE Mobile Payments - “INSIDE Secure is thrilled to extend our relationship with Visa to deploy issuer wallets based on MatrixHCE, one of the first mobile payment solutions for banks,” said Andrew McLennan, executive vice-president of INSIDE Secure’s Mobile Security Division. “MatrixHCE future proofs investment into payment solutions by meeting the latest HCE standard and anticipating future requirements including updatable whitebox cryptography to protect tokens, code and data.”
  • Payments UK: Debit cards to overtake cash payments by 2021 - "Cash was still the most popular payment method in 2015 accounting for roughly half (45.1%) of all payments. However it is predicted that by 2025 notes and coins will drop to being used for just over one in four (27%) payments. The tipping point for the most popular payment method will be reached in 2021 when 14.5 billion debit card payments are predicted, overtaking the forecast 13.0 billion cash payments for the first time."

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 15, 2016

Headline News from PaymentsNews.com - March 15, 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 08, 2016

Headline News from PaymentsNews.com - March 8, 2016

ON THE WEB

  • Scheming and Processing – Faster - PaymentsViews.com (Bryan Derman) - "The interesting question that we will be monitoring as these systems develop is how they find their place among other payment methods and compete for the volume available in a range of payment domains, from P2P to consumer bill payment, to business payments and even onto POS and remote commerce transactions."
  • Amazon India planning to launch digital wallet - Economic Times - "Former Citibanker Sriraman Jagannathan, whom Amazon India hired in February to head its payments business, is likely to spearhead the launch of the digital wallet..."
  • Gift Cards Feel Pinch of New Rules - Wall St. Journal - "Historically, the cost of that fraud was borne by the financial institutions that issued the credit cards. That changed in October, when new card-industry rules went into effect ..."
  • Square launches payments in Australia, its first country expansion in nearly three years - TechCrunch - "Square, which went public last year and operates in four countries, partnered with payment enabler Cuscal for the launch."

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!

February 18, 2016

Headline News from PaymentsNews.com - February 18, 2016

ON THE WEB

ON THE WIRES

  • U.S. Bank Upgrades Commercial Payment Solutions - “Together, Commercial Payments Manager and Access Online support the market’s widest range of commercial card and virtual payment choices,” said U.S. Bank Corporate Payments Systems President Jeff Jones. “By offering two complementary systems, U.S. Bank has made it easier for customers of every size and sophistication to access all the options they need to support and grow their organizations.”
  • MasterCard Expands Cardholder Controls and Peace of Mind - "For 50 years, we’ve developed new technologies that balance the need for increased security with the desire for greater convenience in payments. As these benefits become everyday features, consumers will receive even more protection and value from the MasterCard in their wallet– physical or digital.”
  • Vantiv Integrated Payments Announces Security Pays 2.0 to Drive Stronger Security Adoption - "This initiative promotes education and awareness, driving the adoption of security products to add layers of protection to the payments process, such as end-to-end encryption, tokenization and EMV."
  • Lavu Collaborates with PayPal to Offer EMV Payment Processing to Restaurants, Food Trucks and Bars - "PayPal will now be available to Lavu’s extensive portfolio of restaurants, bars and food trucks that generate billions of dollars in transactions annually. Additionally, Lavu can offer restaurant and bar owners EMV payment processing that is integrated with a clear and transparent pricing structure within its POS software, with no hidden fees."
  • Five Things to Look for in Cross-Border Payments in 2016 and Beyond - "As the payment landscape continues to shift − driven by an increasingly global economy, the adoption of more digital-only channels, and increased concerns over security and transparency − Mike Massaro, CEO of Flywire (formerly Peer Transfer) weighed in on the future for global payments."
  • Bell ID to Support Android Pay - "Bell ID, the mobile payments specialist recently acquired by Rambus Cryptography Research, today announces it will support international issuing banks, payment schemes and processors to integrate with Android Pay. Bell ID customers can utilize its Token Service Provider (TSP) software to enable and secure near field communication (NFC) payments functionality on Android phones."
  • 25 Million Credit Cardholders Haven't Changed Favorite Card in 10+ Years - "The truth is that loyalty doesn't pay when it comes to credit cards," Schulz said. "It is especially true with rewards because the quickest way to rack up rewards is to sign up for a new card with a big signup bonus..."

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!

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.

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 20, 2016

Headline News from PaymentsNews.com - January 20, 2016

ON THE WEB

ON THE WIRES

  • New IMF Staff Paper Looks at How to Reap the Benefits and Curtail the Risks of Virtual Currencies - "Achieving a balanced regulatory framework that guards against risks without suffocating innovation is a challenge that will require extensive international cooperation, says a new staff paper, “Virtual Currencies and Beyond: Initial Considerations,” released today by the International Monetary Fund (IMF) during the World Economic Forum."
  • R3 brings eleven major global financial institutions together on a cloud based distributed ledger - "R3 and consortium member banks Barclays, BMO Financial Group, Credit Suisse, Commonwealth Bank of Australia, HSBC, Natixis, Royal Bank of Scotland, TD Bank, UBS, UniCredit and Wells Fargo each connected on an R3-managed private peer-to-peer distributed ledger, underpinned by Ethereum technology and hosted on a virtual private network in Microsoft Azure, the public cloud platform offering Blockchain as a Service (BaaS) in an accelerated development environment."
  • Global Payments Partners with Mobeewave to Offer Innovative Add-On-Free Mobile Payment Acceptance Solution - "The solution is designed to enable secure, in-person payment transactions, made with any contactless credit card or mobile wallet (e.g. Apple Pay®, Samsung Pay, Android Pay™), directly on an NFC-enabled mobile device, without the need for additional hardware such as a card reader or dongle."
  • Western Union Cross-Border Platform Connects Consumers to over One Billion Bank Accounts - "“The account payout network capability represents a natural evolution in Western Union's cross-border platform and omni-channel strategy to reach new digital-savvy, banked and mobile enabled consumers. Western Union is actively pursuing digital innovation enterprise wide, increasing consumers’ choice of money transfer channels and facilitating financial inclusion in emerging countries around the world."
  • InComm Digital Solutions Introduces Digital Open-Loop Prepaid Products - "The new products are digital versions of Visa gift or reward cards delivered to an email address and are redeemable on any U.S.-based e-commerce site where Visa debit cards are accepted."
  • Nielsen Study: Innovation in Mobile Technology, Payment Options & Retail Strategy Drive Borderless Shopping - "As technology and the retail landscape rapidly evolve, payment practices are also changing. More than half of respondents who say they shopped online during the past six months paid with a traditional credit card (53%), but roughly four-in-10 used a digital payment system such as PayPal (43%), debit card (39%) or direct debit from their bank account (38%)."
  • Merchants to Face More Chargeback Challenges as CNP Fraud Escalates - "Our research revealed that almost two-thirds of physical goods merchants believe that outsourcing fraud mitigation and chargeback management has become cost effective. We believe working with a third-party solution provider who specializes in end-to-end management of CNP transactions will be the future for online merchants who are already at a higher risk for this type of fraud than their brick-and-mortar peers."
  • Moneris launches business-to-business payment solutions to optimize commercial card acceptance - "Moneris' B2B services target business suppliers accepting payments from commercial customers and card issuing partners who require support enabling suppliers for card acceptance. Suppliers will be offered accounts receivable solutions that move them off of traditional cheque and invoicing systems, speed up payment delivery times and optimize business operations. Card-issuers will benefit from supplier enablement services that help simplify the migration to electronic payment acceptance for suppliers. "
  • Visa Inc. Appoints Lynne Biggar as Chief Marketing and Communications Officer - "While at Time Inc., Ms. Biggar was responsible for marketing to consumers for all Time Inc. brands across all channels, direct marketing company Synapse, Time Inc. Retail, Time Inc. Books, Consumer Insights, Data Solutions and Time Customer Service. Prior to her role at Time Inc. she spent more than 20 years at American Express in a variety of general management and marketing positions in both the US and international divisions and was a member of the company’s Global Management Team."

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!

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!

October 19, 2015

Headline News from PaymentsNews.com - October 19, 2015

On the Web

  • Yahoo Executive Reses Said to Leave Company to Join Square - Bloomberg - "Jacqueline Reses is departing Yahoo! Inc., where she had been chief development officer, to join Dorsey’s Square Inc...."
  • For First Data, the way to investors' hearts is through their stomachs - Fortune - "First Data’s big new pitch to investors is that it can arm small businesses with the same sophisticated apps, and Big Data analytics, that until now exclusively benefited the likes of Target or Dunkin’ Donuts."
  • What 2016 Holds for Bitcoin Businesses - CoinDesk - "The hard reality is, there just isn’t currently enough volume to support all the exchanges, payment gateways and wallet providers that have sprung up, let alone the number of secondary service providers, such as bitcoin compliance solutions, that have been created to support the first wave of service providers."

On the Wires

  • Square Hires Jacqueline Reses, Yahoo Executive and Financial Services Veteran, to Lead Square Capital - “Jackie’s understanding of the financial services industry and her background in tech and investing make her the perfect fit to lead Square Capital, and I’m thrilled she is joining our leadership team,” said Jack Dorsey, CEO of Square.
  • MasterCard to Tokenize MasterPass for Online and In-App Shopping - "At the request of Issuers enabling MasterPass for their customers, MasterCard will replace the personal account numbers (PAN) for consumer credit, debit, commercial and prepaid cards stored in MasterPass with a secure “token” – a new 16-digit number that represents the existing PAN on the front of a payment card. Tokens are unique to each bank-connected MasterPass wallet and carry EMV-based security protection that provides additional peace of mind for consumers and merchants alike."
  • MCX Adds BIM’s Guaranteed ACH Payments to CurrentC™ App - “We are hearing directly from consumers about the importance of having choices when it comes to payment within the app. With BIM’s technology and the ability to pay via a checking account, consumers will soon have several options for paying for goods and services using CurrentC™” said Brian Mooney, MCX CEO. “While consumers want options, they also want security. We chose BIM’s technology for its seamless integration with CurrentC™, security features, and fraud prevention capabilities.”
  • WEX Inc. Announces Definitive Agreement to Acquire Electronic Funds Source LLC - “We are very excited about the prospect of combining these two great companies, which have a strong customer orientation, aligned strategy and a complementary footprint,” said Melissa Smith, WEX’s president and chief executive officer. “We believe this acquisition strengthens our value proposition to customers with a portfolio of best-in-class offerings that will better meet their evolving needs."
  • U.S. Bank Launches VantagePoint; New Centralized Receivables Management Platform - “U.S. Bank is committed to continued investment in receivables capabilities and technology to improve our client experience,” said Rich Erario, head of U.S. Bank Global Treasury Management. “The bank conducts in-depth process reviews with businesses and hosts focus groups on a regular basis to fully understand their most pressing business challenges. VantagePoint is a direct result of those conversations. By streamlining the receivables management process and improving data reporting, VantagePoint makes it easier for our clients to make informed business decisions.”
  • Citi Launches Paperless Processing and a Fully Digital Experience of Electronic Bank Account Management (eBAM) in North America - “This is an important milestone in Citi’s digital journey. With these enhancements, our clients will realize greater efficiencies and benefit from a more streamlined onboarding process,” said Michael Fossaceca, North America Region Head, Citi Treasury and Trade Solutions.
  • Citi Expands Citi Payment Exchange into Canada, Building on U.S. Success - “We are committed to innovate, constantly finding new ways to support our clients in their end-to-end process and make their payment management simpler and more efficient. The unique opportunity with Citi Payment Exchange is that it allows organizations to leverage the power of the next generation of corporate payments, such as virtual cards,” added Stephanie Zee, Director and Cash Product Head, Citi Treasury and Trade Solutions, Canada.
  • Synchrony Financial to File Registration Statement in Connection With GE Exchange Offer - “We have been preparing to separate from GE since plans were announced two years ago,” stated Margaret Keane, president and CEO of Synchrony Financial. “We have built the infrastructure and the teams needed for separation and are excited about our future as a standalone business."

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 23, 2015

Headline News from PaymentsNews.com - September 23, 2015

Please participate in this quick survey on B2B Payments:

  • Glenbrook's Erin McCune writes: We have plenty of strong opinions about B2B payments, but we're eager for YOUR perspectives. Please take a moment to answer our brief survey (only 5 questions!) here: https://www.surveymonkey.com/r/B2B2015-PN

On the Web:

  • First Data Aims to Raise $3 Billion in IPO - Wall St. Journal - "Payment processing giant First Data Corp. is planning to raise $3 billion in an initial public offering slated to kick off this week..."
  • Coming Soon to Checkouts: Microchip-Card Payment Systems - New York Times - "Visa drew a line in the sand four years ago: American merchants would have until October 2015 to update their systems or absorb the losses themselves. Other major card networks quickly adopted the same deadline."
  • EMV's 12 Elephant Fail and the Case for Contactless - LinkedIn Pulse (Nick Holland) - "Now, I’d not profess to be the smartest guy, but I do know a thing or two about the payments industry and for me, this was an awkward experience."
  • Square Opening St. Louis Office - CBS St. Louis - “St. Louis is an important part of Square’s history,” Jack Dorsey, co-founder and CEO, said in a statement. “It’s an incredible city and my hometown, and we’re excited to further invest in the community. Go Cards!”

On the Wires:

  • Enhancements to Federal Reserve Bank Same-Day ACH Service - "The Federal Reserve Board on Wednesday announced the approval of enhancements to the Federal Reserve Banks' same-day automated clearing house (ACH) service. The enhancements are intended to align the Reserve Banks' same-day ACH service with recent amendments to NACHA's ACH operating rules and will facilitate the use of the ACH network for certain time-critical payments, accelerate final settlement, and improve funds availability to payment recipients."
  • First Data and Pivotal Team Up to Deliver Simple and Secure Payment Services to Spring Developers - “At First Data, we are committed to working with the developer community to unlock the next big breakthrough in fintech,” said Guy Chiarello, President, First Data. “We are thrilled to join with Pivotal, a major force in the developer ecosystem, as we continue to attract developer talent and deliver ongoing innovation in 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!

September 14, 2015

Headline News from PaymentsNews.com - September 14, 2015

On the Web:

On the Wires:

  • Fiserv Successfully Pilots CardFree Cash at ATMs Via Accel Debit Payments Network - “Today’s consumers have come to expect immediate, easy and secure access to their money,” said Vincent Brennan, president, Card Services, Fiserv. “Card replacement can take time, and wire transfers can be expensive. Instant access to funds without a card helps financial institutions improve service and security.”
  • MUFG Union Bank Launches New Commercial Card Program for Corporate Clients - “We are pleased to offer our new Commercial Card Program to our corporate clients who are seeking the latest technology and services to meet their transaction banking needs and improve productivity,” said Managing Director Ray Fattell, Head of Product and Innovation at MUFG. “Our team employed a buyer-initiated payments approach in developing these products that distinguishes us in the marketplace."
  • Mozido and PayEase Launch TradeEase, Bring First Cross-Border O2O e-Commerce Payments to China and Russia - “The potential for economic development within China and Russia has never been more evident,” said Ron Hynes, executive vice president and head of global markets. “At Mozido, we’re proud to be establishing our foothold in these growing regions by enabling the first-ever cross-border O2O commerce between the countries.”

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 18, 2015

Headline News from PaymentsNews.com - August 18, 2015

On the Web:

On the Wires:

  • Richmond Fed's Economic Quarterly Looks at Durbin Amendment Impact on Merchants - "Based on a survey conducted two years after the regulation went into effect in 2011, Richmond Fed economist Zhu Wang and his co-authors Scarlett Schwartz and Neil Mitchell investigate the impact of the regulation on the costs to merchants of accepting debit cards. They also examine merchant reactions to the regulation in terms of changing prices and debit card restrictions. The survey results suggest that the regulation has had limited and unequal impact on merchants' debit-acceptance costs."
  • Pay Anyone From Your Wrist - "The latest Square Cash release affords anyone the ability to quickly send a payment to friends, family, or anyone nearby conveniently from their Apple Watch. Beginning today, anyone can access the app on their Apple Watch by downloading the latest Square Cash app for iOS."
  • Visa and QIWI Announce the Mass Launch of Contactless Smartphone Payments - "QIWI and Visa Inc. have announced implementation of a new stage of their strategic partnership, which has resulted in integration of Visa payWave's contactless technology into Visa QIWI Wallet."
  • Star Wars Comes to Chase Disney Visa Credit Cards - "Marking the first Star Wars brand collaboration for a credit card for The Walt Disney Company, Chase Card Services and Disney, are putting The Force in Cardmembers’ wallets with the introduction of three exclusive Star Wars designs to the Disney Visa Credit Card family, accompanied by exciting, new and exclusive Star Wars perks for all Disney Visa Credit Cardmembers."
  • First Tech Federal Credit Union and MasterCard Announce First U.S. Biometric Payments Pilot - "The pilot will test the potential of delivering greater security and convenience to First Tech’s U.S. cardholders by verifying identity via facial photographs or fingerprint scans conducted on smartphones."
  • Capital Prepaid Offers Mobile Check Cashing to BlazePaysSM Visa® Prepaid Cardholders - "Our goal is to make the BlazePays Card the most convenient and economical payment tool for consumers," said Jay Kurian, President of Capital Prepaid. "With mobile check cashing, consumers can now load funds to a BlazePays Card regardless of where they reside in the U.S."

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 13, 2015

Headline News from PaymentsNews.com - August 13, 2015

On the Web:

On the Wires:

  • Samsung Announces Launch Dates for Groundbreaking Mobile Payment Service: Samsung Pay - "Samsung Electronics Co., Ltd., unveiled today that Samsung Pay, a secure and easy-to-use mobile payment service that can be used to make purchases nearly everywhere cards are accepted, will launch in Korea on August 20 and in the U.S. on September 28. Samsung plans to roll out the service in the U.K., Spain and China, with partners to be named in each market."
  • Synchrony Financial Enables Private Label Credit Card Benefits Through Samsung Pay - “We continue to make our cards valuable to consumers, retailers and merchants and are pleased to securely offer the benefits of our private label credit cards through Samsung Pay,” said Margaret Keane, president and CEO of Synchrony Financial. “Through our ongoing innovation and strategic partnerships, we have developed a mobile platform that we can rapidly integrate with providers’ wallets while preserving the value of Synchrony Bank’s private label credit cards and patented Dual Cards for whichever mobile wallet our partners and customers choose.”
  • Samsung Joins the Visa Digital Enablement Program - “Samsung Pay is now one more way consumers can make secure payments based on tokens -- technology that is quickly becoming the standard for safe mobile payments,” said Jim McCarthy, Executive Vice President of Innovation and Strategic Partnerships at Visa. “Similar to how Samsung Pay is reaching mass merchant acceptance on day one, VDEP is making it easy and cost-effective for payment providers, financial institutions and technology companies like Samsung to take full advantage of token technology and bring secure mobile payments to consumers everywhere.”
  • Discover to Bring Samsung Pay to Cardmembers - “Discover remains committed to providing cardmembers with simple, convenient and versatile payment options,” said Diane Offereins, Discover’s president of payment services. “Adding Samsung Pay expands our ability to offer innovative and secure mobile payment services, enhancing the customer experience that cardmembers have come to expect from Discover.”
  • Heartland, VersaPay Help Merchants Move to Electronic Invoicing - "Heartland Payment Systems and VersaPay have announced they are collaborating to help merchants improve their accounts receivable through a cloud-based software solution utilizing the Heartland Portico™ Gateway and VersaPay ARC® platform."

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!

December 18, 2014

Headline News from PaymentsNews.com - December 18, 2014

On the Web:

  • Square Is Resurrecting Wallet, Its Pay-By-Name Mobile App, And Giving It Away - ReadWrite - "Square is "retiring" Wallet but its putting its key feature—the ability to pay in stores by saying your name, without taking out a wallet or even your phone—inside Square Order."
  • Silicon Valley Bank -- At The Core Of A Tech Network - Forbes - “We are doing something very, very different. We help them build a sound, scalable operating infrastructure that they would go to an investor and say they have worked with Silicon Valley Bank and the bank has looked over its fraud and compliance.”
  • Amazon Confirms Rollout of One-Hour Delivery Service - Wall St. Journal - "The service, first reported by The Wall Street Journal, is available in parts of New York, though Amazon said it would expand to other cities next year. Amazon will charge $7.99 for delivery within an hour, though two-hour delivery is free..."
  • Billing and Payments — a potted history - FastMail Blog - "As a credit card merchant, an important thing is the chargeback rate — that is, the percentage of your payments that the cardholders dispute with their bank. If this rate gets too high, then the payment gateways deem you to be risky, and they will charge much higher fees, or cancel your account completely."
  • Complex Solutions to a Simple Problem - Krebs on Security - "The main reason so many of these newfangled technologies are even being proposed is that the United States lags 20 years behind Europe and the rest of the world in adopting chip/smartcard technology in credit and debit cards."
  • Lawsky Outlines Revisions to New York's BitLicense in DC Speech - CoinDesk - "Ben Lawsky announced the latest revisions to the draft BitLicense today in Washington, DC, announcing a host of changes in response to reactions from its public comment period."
  • Payments startup Tipalti moves HQ to Palo Alto from Southern California - San Francisco Business Times - Tipalti also hired Rob Israch as chief marketing officer as the company "prepares for significant revenue growth."

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 02, 2014

Headline News from PaymentsNews.com - December 2, 2014

On the Web:

On the Wires:

  • MasterCard Board of Directors Announces Increase in Quarterly Dividend and $3.75 Billion Class A Share Repurchase Program - “Today’s dividend and share repurchase program announcement comes as a result of our continued, strong financial performance,” said Ajay Banga, president and CEO, MasterCard. “We remain committed to delivering value to our shareholders, while investing in the growth of our business.”
  • SimplyTapp Raises $5.9M to Propel Mobile Payment Innovation - "SimplyTapp, the leading provider of Host Card Emulation (HCE) solutions for cloud based mobile payments, today announced it has raised $5.9M of a Series B financing round from undisclosed new investors and existing investors Blue Sky Capital and Lightspeed Venture Partners, bringing the total amount of funding raised to date to $7.6M."
  • CARDFREE Completes its Next Generation Order-Ahead Product - "This new patent license enables CARDFREE to provide its exceptional online/mobile ordering solutions within the US - for restaurants and other verticals. CARDFREE’s award-winning platform provides full commerce capabilities including cross-channel CRM, loyalty, payments and now its next generation order-ahead solution."
  • AribaPay Takes Off - “By automating billing and settlement and digitizing the “pay” in procure-to-pay, AribaPay is bringing the same simplicity to B2B payments and effectively changing the game by enabling companies to drive a more efficient, effective process that creates benefits on both sides of the equation.”

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 13, 2014

Headline News from PaymentsNews.com - November 13, 2014

On the Web:

  • Prepaid products: New disclosures to help you compare options - CFPB - "Last March, we asked you to comment on possible prepaid card disclosures. Thanks to your feedback and additional consumer testing, today we’re proposing new disclosure requirements that consumers would receive before deciding to open a prepaid account."

On the Wires:

  • CFPB Proposes Strong Federal Protections for Prepaid Products - "Today the Consumer Financial Protection Bureau (CFPB) is proposing strong, new federal consumer protections for the prepaid market. The proposal would require prepaid companies to limit consumers’ losses when funds are stolen or cards are lost, investigate and resolve errors, provide easy and free access to account information, and adhere to credit card protections if a credit product is offered in connection with a prepaid account."
  • QuickBooks Survey: More Than 40 Percent of Small Business Owners Identify as Financially Illiterate - "In order to arm small business owners with financial knowledge and understanding, Intuit unveiled a new interactive tool designed to encourage new and emerging small business owners to test and improve their financial literacy."

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 11, 2014

Headline News from PaymentsNews.com - November 11, 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!

November 05, 2014

Headline News from PaymentsNews.com - November 5, 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!

November 04, 2014

Headline News from PaymentsNews.com - November 4, 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!

November 03, 2014

Headline News from PaymentsNews.com - November 3, 2014

On the Web:

On the Wires:

  • Consumers Can Now Use Their Barclays, Navy Federal & USAA MasterCard in Apple Pay - "Owners of the new iPhone 6, iPhone 6 Plus, iPad Air 2 and iPad mini 3 can now use their U.S. MasterCard consumer credit or debit cards from Bank of America, Capital One, Citi, Wells Fargo, Barclaycard, USAA and Navy Federal Credit Union through Apple Pay."
  • Apple Pay Now Available for U.S. Bank Customers - “We couldn’t be more pleased to see this day arrive for our customers,” said Dominic Venturo, chief innovation officer at U.S. Bank. “Providing our customers the ability to securely pay where, when and how they want is a central theme for our payments business. Enabling our customers to use Apple Pay is the perfect example of how we bring that philosophy to life.”
  • U.S. Bank FlexPerks Adds American Express-Branded Cards to Award Winning Credit Card Lineup - “Adding American Express to the family of FlexPerks Rewards credit cards is part of our FlexPerks legacy of finding new and better ways to help customers earn rewards faster with value they can recognize,” said Cliff Cook, senior vice president for U.S. Bank’s retail credit card division.
  • Elavon Delivers Apple Pay, EMV & Security Solutions - "Our investments in mobile and other innovative technologies are now paying off for our customers: when a business is trying to accommodate the consumer who wants to pay with their smart phone, and the next person in line who presents a chip-embedded EMV card, they know they can rely on us to help them make the sale with enhanced security and a great customer experience.”
  • Verifone and MasterCard Bring Card-Linked Offers to Las Vegas for Money 2020 - "Targeted offers from merchants, in this case The Hard Rock Café on the Vegas strip, the Bali Hai and Royal Links golf courses and Dream Racing at the Las Vegas Motor Speedway, are displayed to taxi passengers on VNET–Taxi TV screens integrated with Verifone payment terminals."
  • Visa Selects Bangalore as Site for New Technology Center - India is fast becoming a global technology epicenter with an incredible pool of technology talent,” said Nitin Chandel, Senior Vice President of Visa’s Developer Platform based in India.
  • TSYS Creating a More Open Technology Environment to Power Innovation - "TSYS’ strategy leverages the scale of TSYS’ mainframe and distributed systems to connect with 3rd platform technologies including mobile, cloud, big data and social technologies."
  • Ingo Money to Acquire Fuze Network, Inc. - "Fuze enables its partners to add cash to more than one billion bankcards including credit, debit and prepaid cards. For example, a consumer cashing a check at a physical location can then disburse funds directly to the cards in their wallet."
  • LoopPay Launches New Mobile Payment Product Line, Accepted At 40X More Places Than Apple Pay - "The LoopPay CardCase can be purchased today for $49.95 for the iPhone 5/5s, 6 and 6 Plus, while Android users can purchase a standalone LoopPay Card accessory that is available separately for $39.95."
  • Verifone Reinforces Mission with New Brand Voice and Identity - "The Verifone brand reflects our vision and commitment to clients, while also speaking to our continued growth and leadership as a company as we pave new paths towards the future of commerce.”
  • Ingenico Mobile Solutions Launches the First Native mPOS Tablet App with Support for All Transactions Types: Magstripe, EMV and NFC - "This new version features a completely redesigned User Interface (UI) and is the first and only native tablet application for both iOS and Android that supports all mobile payment transaction types and all acceptance methods: magstripe, NFC, EMV chip & PIN, and EMV chip & sign."
  • BofA Merrill Announces Enhancements to Global Card Capabilities for Companies and Public Sector Clients - “Improved transparency and tighter control over expenses continue to be hot topics for organizations of all sizes in every region around the world,” said Percy Batliwalla, head of Sales for GTS. “As card programs grow in efficacy and sophistication, they are becoming an increasingly powerful tool for treasury departments – providing them the granular information they need to better manage and forecast their finances.”
  • CPI Card Group Launches CPIMobile™ with Sequent - "Sequent will enable CPI to deliver to global banks and other issuers a digital issuance solution that allows them to participate in almost any mobile wallet deployment, leveraging both Secure Element (SE) and Host Card Emulation (HCE) capabilities, and to enable their own banking apps for payments."
  • CPI Launches First EMV Prepaid Cards to Canadian Market with Berkeley Payment Solutions - “The Canadian market has already successfully migrated to EMV for financial debit and credit cards, benefiting from a significant reduction in fraud,” said Steve Montross, president and CEO of CPI Card Group. “Berkeley Payment Solutions has remained at the forefront of driving continuous innovation for its customers, and now, by extending EMV for Prepaid, truly demonstrates the company’s ability to anticipate and deliver solutions to meet the needs of its customers.”

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 29, 2014

Headline News from PaymentsNews.com - October 29, 2014

On the Web:

On the Wires:

  • Visa Inc. Reports Strong Fiscal Fourth Quarter Adjusted Earnings Per Share Growth of 17% and Full-Year 2014 Adjusted Earnings Per Share Growth of 19% and Announces a New $5.0 Billion Share Repurchase Program - "Our enviable competitive position, strong business model, and great talent helped us deliver adjusted EPS growth of 17% for the fourth quarter and 19% for the full year in the face of continued tepid economic growth and a strengthening dollar. More importantly, the underlying metrics which will drive our revenue growth over the longer term are strong and getting stronger," said Charlie Scharf, Chief Executive Officer of Visa Inc.
  • Poynt Introduces World's First Smart Payment Terminal - "Consumers carry connected supercomputers in their pockets while in-store technology still centers around a glorified calculator," said Poynt founder and CEO, Osama Bedier, former head of Google Wallet and long-time PayPal senior executive. "Solving for that disparity, we borrowed from the best in mobile technology to make the payment terminal smart and help small businesses rise to meet growing consumer expectations."
  • Cardlytics Raises $70 Million in Funding - "Led by Discovery Capital, this funding brings Cardlytics’ total venture funding to just over $170 million. Cardlytics intends to use the funds to continue to extend and expand the breadth of the company’s capabilities to make all marketing more relevant and measurable. Morgan Stanley acted as adviser on the deal."
  • U.S. Bank Simplifies B2B Electronic Payments - "The Payment Plus basic payment instruction file transmits payment instructions from the customer to U.S. Bank though a simple CSV (common separated value) file that is easy to use and fast to set up. Because it requires the completion of substantially fewer information fields than the standard payment instruction file, typical users won’t need dedicated IT resources to program it."
  • 2013 FDIC National Survey of Unbanked and Underbanked Households - "The survey addresses a gap in the availability of comprehensive data on the number of unbanked and underbanked households in the United States."
  • CARDFREE Partners with Taco Bell® For New Mobile Commerce Application - “Taco Bell is not only one of the largest QSRs in the country, they are one of the savviest marketers out there,” commented Jon Squire, founder and chief executive officer of CARDFREE. “We are extremely proud to be working with them on what is bound to be a game changer for the industry."
  • First Data Reports Third Quarter 2014 Financial Results - “Our results this quarter demonstrate how we are developing innovative products and solutions, collaborating with global brands and strengthening our balance sheet, all while continuing to grow our business,” said Chairman and CEO Frank Bisignano.
  • NRF Statement on Mobile Payment Services - "Merchants large and small make business decisions every single day based upon what makes the best sense for the business, their associates and most importantly, their customers. The payment systems they decide to implement are no different. Data security is paramount, but so is flexibility, cost and ease of use."
  • ShopKeep Introduces the ShopKeep Gift Card - "ShopKeep, the cloud-based small business technology provider trusted by more than 10,000 small business owners to manage retail shops and restaurants with iPads, today announced that it is expanding its product offering to include the ShopKeep gift card."

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 23, 2014

Headline News from PaymentsNews.com - October 23, 2014

On the Web:

  • Considering Bitcoin as a Payment Network - PaymentsViews.com (Russ Jones) - "What sort of payment system is Bitcoin? I’d say it is most similar to an open loop payment system that uses the push model. It offers close to real-time processing between end-parties and uses real-time gross settlement to complete each transaction. ..."
  • Costs and Benefits of Building Faster Payment Systems: The U.K. Experience and Implications for the United States - Federal Reserve Bank of Boston - "This paper examines the economic cost-benefit analysis underlying the U.K. FPS investment decision and describes the subsequent diffusion and use of FPS through 2013. The paper also assesses the effects that FPS likely had on the rest of the U.K. payment system and highlights key unanswered questions for future research."
  • The Dawn of Diners Club, and the Credit Card - New York Times - "Diners Club initially charged a $5 annual fee to users (equivalent to $49 today) and a fee of 7 percent to 10 percent of the charge to the business accepting the card."
  • Better Your Business With Square App Marketplace - Square Blog - "Whether you’re looking for easy sales tax reporting and filing with TaxJar, a wireless kitchen display system with Fresh KDS, or a comprehensive view of your social and online marketing efforts alongside sales with SumAll, you can find business apps that sync seamlessly with your Square account."
  • Why America has been slow to adopt modern credit-card technology - Economist - "As the (probably apocryphal) Winston Churchill aphorism goes, you can always count on the Americans to do the right thing—after they have tried everything else."
  • Etsy Introduces Credit Card Reader to Go Beyond the Web - "With the launch, Etsy will for the first time start earning a cut of transactions that happen away from its digital platform."
  • The 12 Best Answers from Gavin Andresen's Reddit AMA - CoinDesk - "They should use the block chain as the world's most secure distributed ledger."
  • Apple Pay’s First TV Ad Is A World Series Spot From MasterCard And MLB - TechCrunch - "Remember, this is a MasterCard ad, not an Apple ad, meaning this is yet another sign that payments providers think Apple could be the company to make mobile payments really take off, and are investing resources and backing accordingly."
  • In Palo Alto, Even the Hummus Guy Has an E-Commerce Startup - Re/code.net - "His new app — Wondermall — is an iPad shopping play in which a user can scroll through a virtual mall populated with anchor stores like Macy’s and Banana Republic."
  • Tipalti lands $13M to become a bigger international payment platform - VentureBeat - “When you’re paying your supplier, there isn’t a simple, common denominator,” CEO and co-founder Chen Amit told VentureBeat.
  • Mobile Payments: Ready for Primetime - The Clearing House Banking Perspectives (Dave Fortney) - "The great consumer adoption fallacy is that consumers will use mobile payments simply because they’re new and cool. The opposite is more likely true; tech enthusiasts aside, most consumers are resistant to change and will only accept it if given a compelling reason. Consider it the human equivalent to Newton’s first law of motion: an object at rest tends to stay at rest unless acted upon by an outside force."

On the Wires:

  • The Clearing House to Undertake a Multi-Year Effort to Design and Develop a Secure, Real-Time Payment System - “The digital economy moves in real time and our customers expect us to keep pace,” said Richard Davis, Chairman, President, and CEO of U.S. Bank and Chairman of The Clearing House. “We will work with the industry to build a real-time payment infrastructure, which will enable consumers to pay and get paid securely and conveniently.”
  • U.S. Bank Launches Corporate Payments Mobile App for On-The-Go Account Access - “Mobile devices are blurring the line between corporate and consumer need,” said Dominic Venturo, chief innovation officer for U.S. Bank. “Customers want a consistent, familiar experience, whether they’re paying their mortgage at home or managing invoices at work. Tools must be simple, intuitive, and offer high-value, low-cost functionality."
  • Worldpay Supports Apple Pay - “Enabling our merchants to process Apple Pay payments is a natural extension of Worldpay’s secure payment offerings,” said Tony Catalfano, President and CEO of Worldpay US. “We are committed to ongoing improvements that enable our merchants to accept new methods of payment as they evolve and intersect with new technologies."

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 25, 2014

Headline News from PaymentsNews.com - September 25, 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!

September 23, 2014

Headline News from PaymentsNews.com - September 23, 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!

September 16, 2014

Headline News from PaymentsNews.com - September 16, 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!

September 03, 2014

Headline News from PaymentsNews.com - September 3, 2014

On the Web:

On the Wires:

  • Merchant Customer Exchange Unveils its Mobile Payment Network – CurrentC™ - "CurrentC is a software-based solution that works with most existing point-of-sale and payment terminals — providing merchants large and small with a cost-effective entry point into the mobile payments movement. CurrentC will utilize a secure paycode and will not require additional hardware from most customers or merchants."
  • A Message from CEO, Michael Abbott: Isis Wallet is Becoming Softcard - "Together with a simple and flexible visual system, the inherent simplicity of Softcard gives it the potential to become a category defining name. That’s a bold aspiration, but one that matches the breadth of our vision."
  • MasterCard Announces Inaugural MasterCard Start Path Class - “The opportunity to work closely with each of our Start Path startups that are experimenting with the next generation of commerce solutions is really exciting,” said Stephane Wyper, MasterCard Start Path Global Lead. “We’re looking forward to rolling up our sleeves with the companies to tackle immediate challenges as they scale their business by connecting them directly with subject matter experts from across MasterCard and the global partners we work with.”
  • NFL Fans Score with Visa Checkout - The Easier Way to Pay Online - Through our relationship with merchants on creative customer promotions, we’re showcasing the easier way to pay online in a really powerful way,” said Antonio Lucio, chief global brand officer, Visa Inc. “This campaign is a great example of how Visa is teaming up with leading merchants to showcase a better way to pay online. It also allows millions of consumers to experience and enjoy first-hand how, with Visa Checkout, we’ve brought the simplicity and speed of the ‘swipe’ to the online world.”
  • Acquisition of Clear2Pay Bolsters FIS’ Enterprise Payments Portfolio - "This strategic acquisition demonstrates our commitment to delivering the technologies and assets that will enable our clients, especially large and global institutions, to realize a truly modern payments environment that encompasses all customer channels, simplifies payment operations, reduces costs and provides a better customer experience.”
  • Fiserv Redesigns Corillian Online Banking to Deliver a Simplified, Tablet-Inspired User Experience - “Online banking continues to be the foundational experience of digital banking,” said Jim Tobin, senior vice president and general manager, Digital Channels, Fiserv. “It’s important to get online right, because so many other channels extend from it, and that is why we put so much thought into the redesign of Corillian Online ASP."
  • Late Payment Culture Hinders Growth for Global Businesses - "Over half (57%) of international businesses surveyed by Basware and MasterCard admit to having actively delayed paying their suppliers in the past 12 months. The findings underscore a late payment culture, which three out of four businesses now consider normal practice, that is hampering in particular small and medium-sized enterprises (SMEs)"

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 29, 2014

Headline News from PaymentsNews.com - July 29, 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!

July 14, 2014

Headline News from PaymentsNews.com - July 14, 2014

On the Web:

  • Bitcoin and Charities - A VC (Fred Wilson) - "If you own Bitcoin, at Coinbase or in your own wallet, you can gift your Bitcoins to charity and save them pretty much all of their online fundraising costs."
  • Beware Keyloggers at Hotel Business Centers - Krebs on Security - "The next hotel business center you visit may be completely locked down and secure, or it could be wide open and totally overrun with malware. The trouble is that there is no easy way for the average guest to know for sure."
  • Curated Food Delivery Startup Caviar In Talks To Be Acquired By Square For $100 Million - TechCrunch - "Caviar is one of many new startups that seeks to enable customers to order meals online and have them delivered in a short period of time."
  • The Password Is Finally Dying. Here's Mine - Wall St. Journal - "Google is working on an as-yet unnamed protocol that allows you to connect to your online accounts on any device by authenticating yourself with your smartphone."
  • Why Jack Ma Separated Alipay In Alibaba’s Words - Wall St. Journal Digits - “This action enabled Alipay to obtain a payment business license in May 2011 without delay and without any detrimental impact to our China retail marketplaces or to Alipay.”

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!

July 10, 2014

Headline News from PaymentsNews.com - July 10, 2014

On the Web:

  • Learnings from the Bitcoin Workshop - PaymentsViews.com (George Peabody) - "We are certainly intrigued by the capabilities of math-based currencies, but think it’s unrealistic to believe that they might quickly overtake incumbent payment systems that already work well for common use cases. We’re far more focused on identifying payments use cases that still exhibit significant points of friction that might be neatly lubricated by the application of MBC technology."
  • "State of Bitcoin Q2 2014 Report Reveals Expanding Bitcoin Economy - CoinDesk - "This State of Bitcoin Q2 report focuses on data and events in the second quarter of 2014 through to the present day."
  • U.S. Companies Step Up Business Conducted in Yuan - Wall St. Journal - "The yuan is making inroads with U.S. firms now because it is becoming more cost-efficient to pay in the currency. American importers can often negotiate better prices with Chinese suppliers if they agree to use yuan to make a purchase."
  • Safaricom opens M-Pesa to its rivals - Mobile World Live - "Other operators are being granted access for the first time to the all-powerful network of agents that underpin the dominance of mobile money service M-Pesa, according to Business Daily."
  • Button Wants To Bring Loyalty Rewards To The On-Demand Economy - TechCrunch - "With that funding, the team hopes to bring new cloud-based tools to mobile app makers that reward users for engaging in apps that they’re already using."
  • How Prepared is Restaurant Industry for end of Swipe & Sign? - Hospitality Technology - "EMV preparedness is on restaurants’ radar, with 70% of those surveyed agreeing that it is important to have a well-defined roadmap for EMV preparedness. When asked about their organization’s current approach to preparing, however, just 26% report having some form of road-map in place; likely due to the lack of a standard."
  • If you don’t have a bank account, how do you manage your money? - Boston Globe (Evan Horowitz) - "The most basic thing to keep in mind is that while these alternative financial services are regulated, they are not subject to the same regulations as banks are."
  • How ACH works: A developer perspective - Part 1 - Zenpayroll Engineering Blog - "I remember when we first started building ZenPayroll, we spent a many weeks struggling to understand how the ACH system works and learning how we can write software to tap into it."
  • How ACH works: A developer perspective - Part 2 - Zenpayroll Engineering Blog - "About 95% of the time, things go exactly as planned. This post will explain the other 5% cases (called ACH returns) and how they are handled."
  • How ACH works: A developer perspective - Part 3 - Zenpayroll Engineering Blog - "Parts 1, 2, and 3 of this series should give a pretty good overview of the ACH protocol at a high level, although for the sake of clarity, much has been simplified in these posts. There are tons more details and nuances that make ACH payments a very interesting problem."
  • Google Ventures launches $100 mln fund to invest in Europe - Reuters PE Hub - "We believe Europe’s startup scene has enormous potential. We’ve seen compelling new companies emerge from places like London, Paris, Berlin, the Nordic region and beyond—SoundCloud, Spotify, Supercell and many others."
  • IBM Wants to Invent the Chips of the Future, Not Make Them - New York Times Bits Blog (Steve Lohr) - "IBM’s research agenda is a recognition that the end of the silicon era of computing, using complementary metal-oxide semiconductor technology, or CMOS, is finally on the horizon."
  • Marc Andreesen and Jim Barksdale on How to Make Money - HBR Idealist - "The tech luminaries on bundling and unbundling in the digital age."

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!
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