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
- SWIFT’s global payments innovation initiative will transform cross-border payments - “It is great to see so many banks from all corners of the globe participating in SWIFT’s global payments innovation initiative,” says Wim Raymaekers, Global Head of Banking Market and project lead for this initiative at SWIFT. “Together, they do nearly 75% of all cross-border payments on the SWIFT network. We welcome additional banks to join this open initiative“
- U.S. Bank Offers Customers a More Rewarding Experience with Two New Products: Cash 365 and FlexPerks® Gold - "Whether customers want to earn more cash back or to experience more rewards and valuable travel benefits, U.S. Bank is offering two new American Express® credit cards to meet their needs."
- UnionPay HCE Mobile QuickPass Debuts Overseas in South Korea - "Mobile QuickPass is UnionPay's new mobile payment solution. It supports both offline contactless payment and online payment. It encompasses many mobile payment products, including HCE, Apple Pay and Samsung Pay."
- U.S. policy for credit cards in Cuba too lenient, critics say - Miami Herald - "...what happens if they use the card in a hotel owned by the Cuban military or a property seized by the Cuban government from U.S. owners in the 1960s?"
- QikServe Launches Integration Solution for Mobile Ordering and Payment - "QikServe's patented 'Waiter in Your Pocket' technology lets guests order and pay for their food and drinks directly from their smartphones."
- Amazon Web Services Cloud Computing Platform Now Available to Customers from Datacenters in India - “Indian start-ups and enterprises have been using AWS for many years – with most Indian technology start-ups building their entire businesses on AWS, and numerous enterprises running mission-critical, core applications on AWS,” said Andy Jassy, CEO of AWS.
GLENBROOK PAYMENTS EDUCATION EVENTS
Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!
- Payments Boot Camp - Palo Alto - October 11-12
- Insight Workshop - Palo Alto - Data in Payments - October 13
Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.
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
- We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Click here to learn more!
- Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews
Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: firstname.lastname@example.org!