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Data Security

Welcome to the News View for "Data Security".

Here, on these archive pages, you'll find all of the articles on Payments News for Data Security 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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August 25, 2015

Headline News from PaymentsNews.com - August 25, 2015

On the Web:

  • Inside the Fight Over Bitcoin’s Future - New Yorker - "A terrific rumpus broke out in the world of Bitcoin last week, when veteran developers Gavin Andresen and Mike Hearn published Bitcoin XT, a competing version of Bitcoin Core, the open-source program that generates new bitcoins, verifies all transactions, and records them on the massive distributed ledger known as the blockchain."
  • The FTC Has the Authority to Enforce Data Security: FTC v. Wyndham Worldwide Corp. - TeachPrivacy - "This is a very important case. The FTC achieved a huge win in this case, preserving its power to regulate data security (and privacy by implication). The FTC strengthened its power, as its victory in this case was a strong one, making clear that the FTC has broad authority to enforce to protect data security. "

On the Wires:

  • Apriva and Global Payments Sign Agreement to Provide Secure, EMV Mobile POS Solutions to U.S. Merchants - “Mobile payments are increasingly crucial in today’s market. Merchants that haven’t embraced a mobile solution risk missing out on users who expect to be able to pay with their mobile device as well as via traditional methods,” said Frank T. Young, SVP, Global Product and Innovation at Global Payments. “AprivaPay Plus complements our existing suite of mobile solutions by giving our merchants the tools needed to offer a cutting-edge mobile solution, designed to provide the transaction security EMV affords.”
  • INSIDE Secure’s Award-Winning HCE Payment Solution Achieves Visa Ready Approval - “INSIDE Secure is extremely pleased to receive functional Visa Ready approval for MatrixHCE, one of the first mobile payment solutions for financial institutions,” said Martin Bergenwall, EVP of INSIDE Secure’s Mobile Security Division. “MatrixHCE not only meets the latest HCE standard, but it also incorporates potential future requirements including updatable whitebox cryptography to protect tokens, code and data.”
  • Nok Nok Labs Announces Second Closing of $16.25M Series C Financing to Fuel Global Expansion - "New strategic investors were added to the oversubscribed round, including DaouKiwoom Group from South Korea; DOCOMO Capital from Japan; and Thundersoft from China. The round also includes current investors DCM Ventures, Lenovo Group, ONSET Ventures and Raven Ventures and related affiliates."
  • Study Reveals Old-Fashioned Payments Processes Impact the Cost of Doing Business - "Through a survey of US and UK finance professionals, Currency Cloud found the US has a lot to learn from its UK counterparts when it comes to international payments, with nearly half (47 percent) of US businesses still relying on old-fashioned paper checks. In contrast, the majority of UK businesses (70 percent) make international payments electronically."
  • TSYS Executives Discuss Women’s Impact in Payments Industry - "TSYS today announced that Sarah Hartman, senior director of Consumer Payment Solutions, and Christina Hall, director of business development for Commercial Services, will speak at today’s annual Women in Payments® Symposium in Atlanta."

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!

July 31, 2015

Headline News from PaymentsNews.com - July 31, 2015

On the Web:

On the Wires:

  • Visa Inc. Appoints Eduardo Coello to Leadership Role for the Latin America and Caribbean Region - “I couldn’t be more pleased to see Eduardo Coello continue to lead Visa’s growth for LAC,” said Eduardo Eraña, current Group Executive for Visa Inc. LAC. “With his deep knowledge of the region, strong client relationships, proven industry expertise, and passion for innovation, he is the right leader to grow the business and further extend Visa’s leadership position.”
  • Heartland Introduces Heartland Out-of-Scope Solution for pcAmerica’s POS Merchants - "The Heartland Secure out-of-scope solution streamlines the POS provider’s path to Europay, MasterCard and Visa (EMV) acceptance by taking the POS system completely out of the payment authorization process, which means no cardholder data is ever sent to the POS system."
  • Springboard Retail and Heartland Partner to Deliver Integrated Retail Solutions for Small Businesses - “Springboard Retail, designed by retailers, helps retailers drive sales, improve efficiency, and lower operating costs to be competitive in today's omni-channel retail world,” says Springboard Retail co-founder and CEO, Gordon Russell. “Springboard's simple and transparent pricing aligns well with Heartland's approach and Springboard Retail is pleased to endorse the Merchant Bill of Rights. By partnering with Heartland, Springboard Retail furthers our mission of helping our retailers grow and prosper now and into the future.”
  • Discover Card Offers a Good Grades Reward Program - "New student cardmembers who apply after July 23, 2015 will be rewarded with $20 in Cashback Bonus® if their grade point average is 3.0 (or equivalent) or higher each year they are enrolled in school, for the first five years from the account opening."

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!

July 17, 2015

Headline News from PaymentsNews.com - July 17, 2015

On the Web:

  • CVS Probes Card Breach at Online Photo Unit - Krebs on Security - "Nationwide pharmacy chain CVS has taken down its online photo center CVSphoto.com, replacing it with a message warning that customer credit card data may have been compromised."
  • How to scale: Lessons from Stripe CEO, Patrick Collison - Khosla Ventures - "Stripe CEO, Patrick Collison, talks with Keith Rabois about culture and recruiting. Hear why Stripe tries to hire people who are intrinsically happy, why they’re willing to recruit people who are not initially enthusiastic about the company and what makes their onboarding process unique."

On the Wires:

  • Ethoca Secures USD $45 Million Growth Equity Investment Led by Spectrum Equity - “We are excited to have Spectrum Equity working alongside Ethoca to help accelerate the next phase of our global expansion and the delivery of new collaboration-based services to meet growing customer demand,” said Andre Edelbrock, CEO & Co-Founder of Ethoca. “Importantly, Spectrum supports our mission of reaching what we call ‘maximum acceptance’ – a place where good customers are never turned away and everyone benefits from the financial rewards that result when ecommerce can simply be about commerce.”
  • Coming Monday: PayPal Celebrates Listing Day in Times Square - "On July 20, 2015, PayPal Holdings, Inc. will celebrate its new status as an independent public company trading on the Nasdaq Stock Market under the ticker symbol “PYPL” in New York’s iconic Times Square."
  • Synchrony Financial Reports Second Quarter Net Earnings of $541 Million or $0.65 Per Diluted Share - “We continue to grow our industry-leading consumer finance business on several fronts. We have signed new partners across our platforms, extended key contracts, and made technology investments which are yielding innovative, value added services for our partners and customers. We also continued to deliver strong receivables, deposit, and revenue growth,” said Margaret Keane, President and Chief Executive Officer of Synchrony Financial.

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!

July 01, 2015

Headline News from PaymentsNews.com - July 1, 2015

On the Web:

On the Wires:

  • Citi Launches New Citi Mobile App for iPhone in the U.S. - "“Citi customers want mobile banking that is fast, easy and makes their lives simpler,” said Citi Global Consumer Banking Chief Client Experience, Digital and Marketing Officer Heather Cox. “Last year we launched Citi Mobile Snapshot to give customers pre-login access to account information. Today, we are taking the next major step by enabling login with a mere touch through Touch ID..."
  • Payment Card Industry Council Advances Point-to-Point Encryption Standard - “Protecting your customers and your corporate brand continue to be the biggest challenges faced by IT executives,” said U.S.-based The HoneyBaked Ham Co.’s VP of Information Technology Bill Bolton. “To meet that challenge, we’ve worked with a P2PE solution provider to adopt a PCI-validated P2PE payment solution across all our stores in a simplified and cost effective way.”
  • Synchrony Financial and Chevron Introduce More Fuel Savings with Enhanced Credit Card Loyalty Programs, Sign Multi-Year Agreement - “This is an exciting time to launch a simple yet rewarding value proposition to the marketplace. This new program with Synchrony Financial offers our customers an everyday advantage when they use their Techron Advantage Credit Card to fill up at Chevron and Texaco stations,” said Glenn Johnson, General Manager of Americas Marketing Sales & Services at Chevron.

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!

June 10, 2015

Headline News from PaymentsNews.com - June 10, 2015

On the Web:

  • Fintech Party May Attract Crashers - Wall St. Journal - "When the Financial Stability Oversight Council released its 2015 annual report last month, among the emerging threats to financial stability it called out was the migration of activities out of banking and into innovative new firms."
  • Breach at Winery Card Processor Missing Link - Krebs on Security - "Today, the company responded that it had begun notifying its customers about the incident, and that it was working with law enforcement and the card associations on an investigation."
  • Stripe Now Has An iPhone App For Monitoring Payment Activity - TechCrunch - "The new iPhone app does basically everything its existing online dashboard does, but brings it to an interface more suited for a mobile device. Businesses can also set up notifications for whenever a payment or purchase is made or set up a daily summary."
  • Retailers can bypass £20 limit for Apple Pay transactions in the UK - iMore.com - "With Apple Pay coming to the U.K. in July, payment processing services are considering removing the £20 limit on contactless payments in the country."
  • Millions of Barclays customers will NOT be able to use Apple Pay - Express - "Barclays has its own mobile payment service - Pingit - and has therefore declined to partner with Apple. It means that the bank's 12 million current account customers will not be able to sync their account with Apple Pay to use the service."

On the Wires:

  • Verifone Supports Launch of New Store Rewards Offering within Apple Pay - “Adding loyalty to Apple Pay will open a world of opportunity for a wide range of merchants to engage consumers and grow their businesses,” said Vin D’Agostino, executive vice president of Commerce Enablement, Verifone. “We are proud to support Apple Pay in expanding contactless payments to include loyalty."
  • Global Payments Names Frank T. Young Senior Vice President of Global Product and Innovation - "Young comes to Global Payments having spent his professional career focused on the intersection of innovation, technology and commerce, most recently with Google where he led strategy and partnerships supporting in-store, online and person-to-person payments. Prior to joining Google, he held senior roles at Firethorn, now a division of Qualcomm, MasterCard Advisors and Accenture."

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!

June 08, 2015

Headline News from PaymentsNews.com - June 8, 2015

On the Web:

  • E-commerce Fraud, Data, and EMV’s Impact on CNP Losses - PaymentsViews.com (George Peabody) - "This discussion with Tom Donlea, Director, e-Comm/Retail Practice at Whitepages, looks at how the data is provided to the merchant, the challenge of data sourcing in international markets, the care and control of PII, and what the US EMV roll-out could mean for CNP fraud."
  • Google Misses Out on Apple’s Slice of Mobile Transactions - Wall St. Journal - "Google isn’t getting transaction fees from bank issuers, said people familiar with the situation."
  • PayPal Holdings presentation for investors and analysts - Exhibit included in a June 8, 2015 eBay SEC filing
  • How I Learned to Stop Worrying and Embrace the Security Freeze - Krebs on Security - "Even if you haven’t noticed (or maybe you just haven’t actually received a breach notice), I’m here to tell you that if you’re an American, your basic personal data is already for sale. What follows is a primer on what you can do to avoid becoming a victim of identity theft as a result of all this data (s)pillage."
  • Westpac, ANZ trial Ripple payments, but big four reluctant on bitcoin - Financial Review (Australia) - "Executives at big four banking rivals are still adopting a more cautious stance on the future acceptance of bitcoin in the mainstream economy, pointing to the fact that it remains unregulated and fraught with risks related to money laundering."
  • Remittances at the Click of a Smartphone Button - New York Times - "While the likes of Western Union have offered international money transfers for decades, new tech start-ups and traditional telecom operators are taking advantage of the rapid rise of smartphones in many emerging economies to reduce the barriers — and costs — of sending cash overseas."
  • Why financial firms are investigating bitcoin tech - CNBC - "The blockchain is the financial challenge of our time," said Blythe Masters, CEO of Digital Asset Holdings, on Tuesday at the Exponential Finance Conference hosted by CNBC and Singularity University. "It is going to change the way that our financial world operates."

On the Wires:

  • Apple Pay Giving Shoppers Even More Ways to Pay - "Apple Pay will also give shoppers more ways to pay in the US, expanding merchant acceptance to over one million locations next month and bringing support for Discover this fall. With this addition, Apple Pay will accept credit and debit cards across all major card networks, issued by the most popular banks, representing 98 percent of all credit card purchase volume in the US."
  • U.S. Bank Gives Customers Access to Free Credit Score - “Knowing your score is important, but even more importantly, we want customers to understand how choices they make can affect their score in the future,” said Andrew Cecere, chief operating officer for U.S. Bank. “Having a good credit score makes it easier to take out a loan, rent an apartment or make a major purchase with the best possible terms. Offering CreditView through TransUnion helps our customers make wise choices, and is consistent with U.S. Bank’s broader efforts to promote personal financial responsibility.”
  • TSYS Enhances Card Production in the Migration to Chip Cards - “We have worked with our U.S. clients since last year as they prepare to issue chip cards in 2015, and it was clear to us early on that we could create an improved process,” said Bob Kellum, group executive of Output Services, TSYS. “This solution lets our issuers focus more on strategy and execution and less on managing new operational challenges. We have also included Chip Card on Demand in TSYS Card Shop to create custom chip cards.”

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!

June 03, 2015

Headline News from PaymentsNews.com - June 3, 2015

On the Web:

  • Glenbrook’s Elizabeth McQuerry is IPFA CEO - PaymentsViews.com (Elizabeth McQuerry) - "Glenbrook is delighted to announce that our partner Elizabeth McQuerry has been named to the position of CEO of IPFA, the International Payments Framework Association. IPFA will play an important role as real-time payments networks around the world start being connected in order to facilitate cross-border payments. Elizabeth will incorporate this work into her ongoing work with Glenbrook on a broad range of international payments projects".

  • Gates Foundation: Lessons Learned About Payments Systems - Ripple Blog - "The Gates Foundation recently published a comprehensive report on designing payments systems for financial inclusion called The Level One Project Guide."

  • NY Financial Regulator Lawsky Releases Final BitLicense Rules for Bitcoin Firms - Wall St. Journal - "The new rules, posted simultaneously on the Department of Financial Services’ website, require certain providers of virtual currency services operating in New York state—in particular, those with custody of customers’ funds and which exchange virtual currencies for dollars and other fiat currencies—to apply for a specially tailored DFS license."

  • Our thoughts on the BitLicense: California is Winning - Coin Center - "The current draft of California’s equivalent legislation, AB 1326, is much better than the BitLicense."

On the Wires:

  • Visa Inc. and Verifone Join Forces to Accelerate Omni Commerce Globally - "As part of the partnership, the companies will integrate industry leading platforms: Verifone will connect its point of sale gateway to Visa’s CyberSource global merchant payment management platform. This will provide merchants with a single platform to protect customer payment data, mitigate fraud, and integrate digital and offline payment systems."

  • Visa and FireEye Join Forces to Help Merchants, Financial Institutions Defend Against Targeted Attacks on Consumer Payment Data - "By combining Visa’s unparalleled view into global payments and FireEye’s industry-leading cyber security expertise, we intend to bring faster, actionable intelligence directly to players across the payments system,” said Charlie Scharf, CEO of Visa Inc. “Although we are leading efforts to render stolen data useless through smart technologies, data security remains foundational for merchants. We’re pleased to be working closely with FireEye, which has been at the front lines identifying and investigating some of the most significant compromises around the world, to provide critical cyber intelligence to merchants and financial institutions.”

  • Payoneer Expands Services in India, Offering Improved Cross-Border Payments from U.S. Companies to Indian Professionals and Businesses - “At Payoneer, we make it our mission to empower global commerce by enabling businesses and professionals to pay and get paid globally as easily they do locally,” said Scott Galit, CEO of Payoneer. “Previously, Indian freelancers, online marketers and other professionals faced high fees and slow transfer times, and our cross-border payments platform directly addresses these challenges.”

  • MasterCard Becomes First International Payments Network to Enter Somalia - “Somalia has made significant strides to rebuild the country and instil peace and stability. Today marks a historic milestone, signalling Somalia’s financial liberation following years of being excluded from participating in the global economy,” says Abdirahman Yusuf Ali Aynte, the Minister of Planning and International Cooperation of Somalia.

  • Bitfinex and BitGo Partner to Create World’s First Real-Time Proof of Reserve Bitcoin Exchange - “We’ve been working with Bitfinex for several months and are impressed by their dedication to security for their users,” said BitGo CEO Mike Belshe. “The industry has been clamoring for exchanges to adopt the multi-sig model, and we’re proud that Bitfinex selected BitGo’s platform to do it. This new level of transparency and security makes breaches such as those of Mt. Gox impossible.”

  • American Express and Starwood Hotels & Resorts Enhance Cobrand Credit Card Benefits - “The SPG Credit Card from American Express has always been a favorite among travel insiders, and the new benefits will deliver even greater value to the ‘always on’ traveler,” said Eva Reda, SVP, Co-brand Partnerships. “We understand what our Card Members want most, and we know the enhanced card will offer the convenience and value they seek.”

  • The Gold Standard Just Got Better; American Express Launches New Dining and Travel Benefits for Premier Rewards Gold Card - “The Premier Rewards Gold Card is the card for people hitting their stride in life and defining their own success. They seek and strive for the gold standard in their personal and professional pursuits. They’re making moves in their careers, but also prioritizing family and friends,” said Lisa Durocher, senior vice president, Consumer Charge Cards & Benefits at American Express. “Whether they’re traveling, dining out or cooking at home, the Premier Rewards Gold Card now gives them even richer rewards, with the flexibility, service, and security they need to keep life moving forward.”

  • U.S. Bank Upgrades Its Corporate Payments Mobile App - "Users can now request virtual card accounts and have them delivered right to their mobile devices to make 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!

June 02, 2015

Headline News from PaymentsNews.com - June 2, 2015

On the Web:

  • Sympathy for the Biller – the Unsung Masters of Payments Complexity - PaymentsViews.com (Erin McCune) - "As billers expand their payment acceptance offerings to include in-person transactions, mobile payments, as well as one time and recurring payments online, the back office effort to accurately apply payments to consumer accounts and reconcile incoming bank deposits will demand more time, IT resources, and payments expertise. Billers are increasingly seeking solutions that minimize this data-handling overhead."
  • Pinterest Is Announcing Buyable Pins And A Partnership With Stripe - ReadWrite - "Pinterest is announcing a product called Buyable Pins, which builds on Pinterest's existing Rich Pin features."
  • Biggest MasterCard Issuers Scuttled Deal on Target Data Breach - Wall St. Journal - "The three banks decided to quash the pact that was negotiated on the industry’s behalf by MasterCard because they thought it was too small to cover their losses in the incident, the people said."

On the Wires:

  • International Payments Framework Association appoints new CEO and launches Instant Payments Initiative - "Elizabeth McQuerry, a partner in the US payments consulting firm Glenbrook Partners and a former IPFA member representative of the Federal Reserve's Retail Payments Office, has been appointed as the new CEO of the association. She will take up this position with immediate effect. She takes over from Arthur Cousins who had shepherded the group since its founding in February 2010."
  • Intel Joins FIDO Alliance and Board of Directors to Support Advancement of Online Strong Authentication and Move Beyond Passwords - "As our digital lives become increasingly personal and connected, maintaining secure, reliable authentication across multiple devices and access points is becoming completely unwieldy. We are excited to collaborate with other industry leaders in the FIDO Alliance to develop simpler and more secure solutions to authenticate users and to eliminate the need for passwords over time," said Mark Hocking, vice president and general manager of Safe Identity at Intel Security.
  • Live Gamer Re-Launches as Emergent Payments - "There is a significant opportunity for digital businesses in emerging markets -- which closely mirrors the success of the digital gaming industry in being able to monetize on a global basis," said Andrew Schneider, Co-Founder and President, Emergent Payments. "Seizing this opportunity, however, is often more complicated than it seems..."
  • Oink Introduces Mobile Peer-to-Peer Payments - “The mobile peer-to-peer market is expected to reach $86Bn in the US as it solves a real pain point for consumers,” said Dr. Jo Webber, CEO and founder of Oink. “The 11 to 21 year-old audience needed a more modern banking solution, with real-time access and control, and we have delivered it.”
  • Intuit: Chip Cards Coming: How Small Businesses Can Prepare - “The biggest barriers for small businesses to become EMV-compliant are cost and lack of time or resources required to research terminals,” said Eric Dunn, Intuit's senior vice president for payments and commerce solutions. “We want them to know we’re beside them on this journey to a more secure payments infrastructure, and are providing an affordable solution as well as equipping them with resources to ease any burdens.”

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!

May 22, 2015

Headline News from PaymentsNews.com - May 22, 2015

On the Web:

  • Target Settlement With MasterCard Fails to Get Bank Support - AP - "MasterCard Inc. says that not enough issuers approved the deal and that it's still working to resolve the matter."
  • Data Encryption In The Cloud: Square Pegs In Round Holes - Dark Reading - "This is where a line of research I’ve been pursuing, together with a number of fantastic colleagues, comes in. Back in 2009, we flipped the problem around. Forget about square pegs, and change encryption to be a primitive that allows easy specification of the target format — the ciphertexts produced by encryption should come out already formatted in the right “shape.” We called this “format-preserving encryption” (FPE), a name first coined by Terence Spies of HP (formerly Voltage Security)."
  • Pantera Capital’s Dan Morehead on the Future of Bitcoin - StrictlyVC - "I think most of Wall Street realizes that the systems that move money are incredibly antiquated and incredibly inefficient. Most of them were designed in the 1950s. The main thing for wiring money – SWIFT – is basically sending messages and it’s very primitive and can be disrupted by Bitcoin very easily, and most banks would like to see that happen."
  • Bitcoin - The Miner's Dilemma - Published by the Swift Institute - "Authored by Ittay Eyal (Cornell University), this paper focuses on Bitcoin mining pools, an essential part of the bitcoin ecosystem. Mining pools enable small miners to operate with a reasonable business risk. However, when these pools grow too big, they pose a great danger to the entire bitcoin system. The research demonstrates, using The Miner’s Dilemma as a variation of The Prisoner’s Dilemma in game theory, that the current unstable state of the Bitcoin ecosystem can be rectified using a technique called pool block withholding, which in time would make the large public pools unprofitable and therefore encourage miner’s to gravitate to smaller private pools which are more stable. This evolution to smaller pools would stabilise the overall Bitcoin ecosystem."

On the Wires:

  • UK Payments Council: Cash overtaken by ‘non-cash’ payments in 2014 - "Figures published today (21 May) show that the total number of cash payments made by consumers, businesses and financial organisations in the UK fell to 48% last year (from 52% in 2013). This is the first time that ‘non-cash’ payments have exceeded those made with cash, reflecting the steady trend to use automated payment methods and debit cards rather than pay by notes and coins. However, cash remains the most popular payment method by volume, followed by the debit card, which accounted for 24% of all payments last year."
  • High Credit Card Fees Put a Dent in Car Tune-ups for Memorial Day Trips - "In the U.S. swipe fees– the fees that merchants pay every time a customer uses a debit or credit card – are higher than in any other country. These fees are merchants’ fastest-growing cost and their second-highest operating expense – only labor is more. Banks and credit card companies are price-fixing swipe fees and marking them up to make huge profits."

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!

May 19, 2015

Headline News from PaymentsNews.com - May 19, 2015

On the Web:

  • A bitcoin miner in every device and in every hand - Medium (Balaji Srinivasan) - "21 is now officially open for business — and business development. After much hard work, we’ve created an embeddable mining chip which we call the BitShare that comes in a variety of form factors. The 21 BitShare can be embedded into an internet-connected device as a standalone chip or integrated into an existing chipset as a block of IP to generate a continuous stream of digital currency for use in a wide variety of applications."
  • How Silicon Valley Joined the Bitcoin Gold Rush - FastCompany - "Wences agreed with Hoffman that Bitcoin was unlikely to be catch on as a payment method anytime soon. But for now, Wences believed that Bitcoin would first gain popularity as a globally available asset, similar to gold. Like gold, which was also not used in everyday transactions, Bitcoin’s value was as a digital asset where people could store wealth."
  • NYSE Launches Bitcoin Index Powered by Coinbase - Coinable Blog - "Today the New York Stock Exchange launched the NYSE Bitcoin Index (NYXBT), a benchmark for the daily price of bitcoin. NYXBT represents the U.S. Dollar value of one bitcoin, based on transactions occurring on Coinbase Exchange and other select bitcoin exchanges."
  • Leaderless Bitcoin Struggles to Make Its Most Crucial Decision - MIT Technology Review - "Under the one-megabyte-per-block limit, the network can process only about three transactions per second. If Bitcoin becomes a mainstream payment system, or even a platform for all kinds of other online business besides payments (see “Why Bitcoin Could Be Much More Than a Currency”), it’s going to have to process a lot more. Visa, by comparison, says its network can process more than 24,000 transactions per second."
  • Digital Gold - AVC (Fred Wilson) - "A lot of people ask me “are you still bullish on Bitcoin” and that question irritates me. Because it suggests that Bitcoin is simple. Bitcoin is not simple, it is not going away, and it continues to fascinate me more than almost anything out there in the tech sector."
  • Why banks (and PayPal) don't simplify - Financial Services Club Blog - "A bank cannot compete with a specialist who is simplifying a marketplace or financial activity, because an incumbent bank's systems and structures are usually too rigid, old and inflexible to change. That is why the new entrant simplifier can create P2P credit at less than 100 basis points differential (1% difference between their lending and savings rates) compared to a bank's 400 basis points or more. A bank has to cover the costs of their heritage buildings, people and infrastructure. A start-up has none of that legacy or overhead."

On the Wires:

  • NACHA Membership Approves Same Day ACH - “The financial services industry has come together through private-sector rulemaking to increase the speed of payments,” said Janet O. Estep, president and CEO of NACHA. “Same Day ACH serves as an immediate action the industry has undertaken to modernize the payments system, and creates a building block for a variety of products and services. Same Day ACH creates value for end users through the certainty of its reach to all bank accounts in the U.S.”
  • MasterCard Makes Sending and Receiving Money Faster, Easier and More Secure with MasterCard Send - "Through a single connection to the MasterCard Send platform, businesses, merchants, governments, non-profits, issuers and other senders can send money to consumers whether they are banked or unbanked, and located domestically or abroad. By digitizing personal payments that are typically handled via cash or check, MasterCard is providing greater convenience, choice and security to both payment senders and receivers in developed and developing markets."
  • Visa Checkout Announces Enrolled Customer Conversion Rate of Nearly 70 Percent - "A new report from comScore* found that Visa Checkout shoppers convert to online buyers at a rate of 69 percent. This is likely because Visa Checkout customers complete online transactions faster than other shoppers who have to re-enter card and shipping information every time they want to purchase in the traditional check out flow."
  • QuickBooks Online Gets in Sync with PayPal - “Our collaboration with PayPal, and the app we’ve built as a result, further broadens our thriving payments ecosystem,” said Eric Dunn, Intuit's senior vice president for payments and commerce solutions. “Intuit is committed to delivering a range of personalized best-in-class payments solutions for small businesses. Our open platform allows small businesses to use the tools of their choice and therefore operate efficiently in a frictionless environment.”
  • Ripple Labs Closes $28 Million Series A Funding Round - "Ripple Labs, the global leader in distributed payments technology and supporters of the Ripple protocol, today announced that it closed a $28 million Series A funding round that includes IDG Capital Partners and the venture arms of CME Group and global data storage company Seagate Technology. Other new investors include Jerry Yang's AME Cloud Ventures, ChinaRock Capital Management, China Growth Capital, and Wicklow Capital, the investment vehicle for Dan Tierney and Stephen Schuler, co-founders of GETCO (now KCG)."
  • New Ponemon Institute Survey Reveals Time to Identify Advanced Threats is 98 Days for Financial Services Firms, 197 Days for Retail - “The big takeaway from our research is that more investment is needed in both security operations staff and in security tools, which can help companies efficiently and accurately detect and respond to security incidents,” said Dr. Larry Ponemon, chairman and founder, Ponemon Institute. “The time to detect an advanced threat is far too long; attackers are getting in and staying long enough that the damage caused is often irreparable.”

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!

May 14, 2015

Headline News from PaymentsNews.com - May 14, 2015

On the Web:

  • PayPal: Powering the Potential of PYPL - PayPal Forward Blog - "I’m honored and thrilled that PayPal is returning to its roots as an independent company. In the second half of 2015 we’ll once again be publicly traded on NASDAQ with our original stock ticker symbol PYPL. This is a meaningful symbol for the company because it represents our unbroken commitment to the spirit of the original vision that sparked the launch of PayPal 17 years ago."
  • Credit-Card Firms Reap Rewards of Consumer Brand Loyalty - Wall St. Journal - "Stuck with slow growth prospects in a saturated market, banks that issue credit cards are increasingly churning out cards that are aimed at creditworthy customers loyal to a store, airline or hotel."
  • Distinction between online, offline blurs for shoppers, but not retailers: report - Mobile Commerce Daily - “We are quickly moving toward a point where there is really no ‘online’ or ‘offline’ if consumers are connected all the time,” said Kasey Lobaugh, Deloitte Digital’s chief retail innovation officer. “However, there’s a divide between the digital functionality retailers provide and the experience consumers want."
  • NTT Docomo’s Iris Scan Phone - Wall St. Journal - "Forget passcodes or fingerprint scans. Now you can unlock a smartphone with the blink of an eye."

On the Wires:

  • American Express Announces Exporting Program to Help Middle Market Companies Grow Globally - “Exporting represents a $928 billion opportunity1 for U.S. mid-sized companies2 over the next 10 years, yet only 17% of middle market firms currently trade internationally3,” said Susan Sobbott, president, Global Corporate Payments, American Express. “The Grow Global program is designed to help demystify the complexities of exporting, and help companies seize the opportunities available by tapping into markets outside the U.S.”
  • Sally Provides Update on Payment Card Investigation - “We believe it is in the best interests of our customers to alert them that we now have sufficient evidence to confirm that an illegal intrusion into our payment card systems has indeed occurred. However, we will not speculate on the scope of the intrusion as our forensics investigation is still underway,” said Chris Brickman, President and CEO.

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!

May 12, 2015

Headline News from PaymentsNews.com - May 12, 2015

On the Web:

On the Wires:

  • Chase Expands Chip Technology to Debit Cards and ATMs to Help Protect Consumers and Businesses - “Fraud and security threats facing consumer payments today is a complex issue that can’t be solved with any single technology,” said Gordon Smith, CEO of Chase Consumer and Community Banking. “We’re working to employ a variety of approaches to protect our customers – adopting chip technology is a critical step on this journey.”
  • Early Warning and NCR to Enable Cross-Institution Real-time Good Funds Network - "Early Warning’s good funds network will facilitate communication among financial institutions, giving a participating depositing bank a real-time guarantee for check and ACH transactions and will support both credit push and debit models. As a result, customers will receive faster availability of funds on deposited items and instant notification of items presented for deposit – all based on real-time activity."
  • Stratos Unveils Digital Card Issuance Platform at Finovate - “Stratos is reinventing the wallet. Just as consumers have migrated their music collections into digital formats such as iTunes, so too are cardholders now compressing what goes into their wallet,” said Thiago Olson, co-founder and CEO of Stratos.

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!

May 11, 2015

Headline News from PaymentsNews.com - May 11, 2015

On the Web:

  • Look Who’s Talking Now - PaymentsViews.com (Russ Jones) - "My interest in “voice” stems from my belief that as microprocessors get smaller and faster, the user interface as we know it will fade into the background. The visual display will go away, the tap and swipe interface will go away, and you will simply talk with devices in a conversational way."
  • Tomorrow's Advance Man - Marc Andreessen’s plan to win the future - New Yorker - "He believes that Silicon Valley is mission control for mankind, which is therefore on a steep trajectory toward perfection. And when he so argues, fire-hosing you with syllogisms and data points and pre-refuting every potential rebuttal, he’s very persuasive."
  • Visa Said in Talks to Buy Visa Europe for Up to $20 Billion - Bloomberg - "Visa and its European counterpart split in 2007 ahead of the U.S. firm’s initial public offering. Analysts have been speculating for years that they could merge."
  • A Bitcoin Technology Gets Nasdaq Test - Wall St. Journal - “Utilizing the blockchain is a natural digital evolution for managing physical securities,” said Nasdaq Chief Executive Robert Greifeld. He said the technology holds the potential to “benefit not only our clients, but the broader global capital markets.”
  • Why Bitcoin Could Be Much More Than a Currency - MIT Technology Review - "For years after TCP/IP was invented, the technology was accessible only to people with a certain level of technical knowledge. Similarly, right now Bitcoin is too arcane for most people and challenging to use even for those who are familiar with it."
  • Visa’s Real-Time Window Into How Americans Spend - Visa Corporate Tumblr - "Visa has released its first publicly available Retail Spending Monitor Report (RSM), which offers a monthly assessment of U.S. retail spending overall and for a variety of individual merchant categories."
  • Even Goldman Sachs wants to jump on the online lending bandwagon - Quartz - "Harit Talwar, who recently left his post as head of card services at Discover after 15 years, will be leading a new effort for the bank to lend money to consumers and small businesses over the Internet..."

On the Wires:

  • R-CISC, the Retail Cyber Intelligence Sharing Center, Signs Strategic Agreement With FS-ISAC to Leverage Services & Technologies for Growth - “In less than a year, R-CISC has made significant advances in its information sharing mission and now we’re launching the next phase of maturity and growth,” says Brian Engle, R-CISC Executive Director. “Partnering with FS-ISAC is a surefire way to help accelerate new tools and offerings to retailers. With this collaboration also comes a greater opportunity for both intra-sector and sector-to-sector sharing.”
  • Heartland Introduces Heartland Secure™ for Restaurants - “Protecting customers is our number one priority and our Heartland Secure solution will cover a restaurant’s payment card industry fines and fees in the case of a breach of card information. The Heartland Secure technology that we pioneered materially reduces the opportunity for criminals to monetize encrypted card data. Restaurant operators with Heartland Secure-certified devices, who are processing with us, are fully protected by our comprehensive breach warranty.”
  • New ACI Worldwide Survey Validates Demand for Same Day Money Transfers - “Same Day ACH provides an option for the consumers, businesses and governments that want to move their money faster,” said Janet O. Estep, president and CEO, NACHA. “It provides an immediate solution for moving payments faster and creates a building block for tomorrow’s products and services. The ACI survey results clearly demonstrate continued industry support for Same Day ACH and underscore the value and importance of the initiative to better meet the needs of customers.”
  • Oberthur Technologies to Launch SMART PREMIERE, a Unique Range of Luxury Payment Cards - "With SMART PREMIERE, we have designed a value-added offer to help banks meet their most challenging customers’ needs with high-end products and build specific offers for each customer category. This strengthens our ability to supply them with turnkey solutions to be their long-term privileged partner“ said Eric Duforest, Managing Director of the Payment Business Unit at OT."

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!

May 01, 2015

Headline News from PaymentsNews.com - May 1, 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!

April 28, 2015

Headline News from PaymentsNews.com - April 28, 2015

On the Web:

On the Wires:

  • Chase Commerce Solutions and USA Technologies Form Strategic Relationship - “We continue to enable commerce through a simple, secure payment experience for consumers and for our business clients,” said Kimberly Fitzsimmons, U.S. Market President for Chase Commerce Solutions. “We are pleased to work with USA Technologies, a market leader in this important and rapidly emerging space to accept all types of payments easily and securely.”
  • Synchrony Financial and Stash Hotel Rewards Announce Exclusive Agreement to Provide Co-Brand Credit Card Program - “We created Stash because we saw travelers passing on exceptional hotel experiences to stay at predictable chain hotels, just so they could earn points,” said Jeffrey Low, Founder and CEO of Stash Hotel Rewards. “Stash is designed to let the traveler have it all – a memorable stay and meaningful rewards. By partnering with Synchrony Financial we’re creating a card that accelerates rewards while keeping with our tradition of remarkable experiences without compromise.”
  • Citi Prepaid Services and Enservio Announce Partnership for Prepaid Insurance Payments - Deirdre Ives, Global Chief Operating Officer of Citi Prepaid Services, said, “We are excited to partner with Enservio to provide our prepaid cards to their flexible, innovative, and cost-effective payment solution for the insurance vertical. Prepaid cards are a smart alternative to checks, and our award-winning prepaid product simplifies claims payments for insurance clients while delivering an exceptional cardholder experience.”

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 21, 2015

Headline News from PaymentsNews.com - April 21, 2015

On the Web:

  • Chip-Card Rollout Has Banks, Retailers Scrambling - Wall St. Journal - "Some 575 million of the new cards—representing about three-quarters of U.S. credit cards and about 40% of debit cards—are expected to be in the wallets of American consumers by year-end, making it the biggest rollout of new cards in decades."
  • Why We Still Use Checkbooks to Pay the Rent - Bloomberg - "Despite the convenience to landlords and tenants of managing lease payments digitally, 70 percent of U.S. renters still pay by check, according to PayLease, another e-rent facilitator."
  • Costco Gets a Lift by Adding Card Acceptance to Food Courts - Digital Transactions - "Costco quickly saw big lifts in average tickets at the food courts—PIN-debit sales came in 40% higher than the average cash ticket, and the average AmEx ticket was 50% higher than the average cash sale."
  • India Tech Startups: Seven Things That Blew My Mind - Re/code.net (Jason Del Rey) - "You’ll hear more from me in the coming weeks as I document my visit. For now, here’s some of the stuff that surprised this first-time visitor to India’s thriving tech scene."
  • Raytheon to Plow $1.7 Billion Into New Cyber Venture - Wall St. Journal - "Raytheon Chief Executive Tom Kennedy said the threat of cyberattacks such as the one suffered last year by Target Corp. is increasing as cloud computing and mobile services make companies more vulnerable to costly electronic intrusions by state-sponsored hackers, terrorists, organized crime or insiders."
  • Bitcoin Vs. Wall Street: A Love-Hate Story - TechCrunch - "Wall Street’s influence can bring bitcoin to the mainstream, and bitcoin can help bankers provide better banking services that are efficient and trustworthy."

On the Wires:

  • Capital One and Uber Partner to Bring Simplicity and Savings to Customers - "We're thrilled to partner with Capital One, a company that shares our vision of creating elegant, simple solutions to meet important consumer needs," said David Richter, Vice President, Strategic Initiatives, Uber. "Together, we'll provide a meaningful combination of savings and convenience to millions of customers."
  • Vodafone M-Pesa and MTN Mobile Money Agree to Interconnect Mobile Money Services - "This interconnect collaboration between the region’s two biggest mobile money operators will enable convenient and affordable international remittances between M-Pesa customers in Kenya, Tanzania, Democratic Republic of Congo and Mozambique, and MTN Mobile Money customers in Uganda, Rwanda and Zambia."
  • PayPal Announces Two Strong Additions to PayPal Leadership Team - "Louise Pentland will become PayPal’s new General Counsel." "Jonathan Auerbach has been named PayPal’s Senior Vice President of Strategy and Growth."
  • AICPA Survey: One-in-Four Americans Victimized by Information Security Breaches - “The increase in data breaches affecting personal information has given consumers significant cause to be cautious about their activities, both online and off,” said Ernie Almonte, chair of the AICPA’s National CPA Financial Literacy Commission. “Data breaches have the potential to seriously affect consumers’ finances and wreak havoc on their credit scores. The good news is that we are seeing Americans taking steps to safeguard their information and reduce their susceptibility to these attacks.”
  • Protect Your Bubble Improves the Customer Experience with Vindicia CashBox - “At Vindicia, we’re proud to be a part of the way Protect Your Bubble improves the experience of purchasing protection plans for consumers,” said Bryta Schulz, senior vice president of marketing for Vindicia. “CashBox overcomes the billing complexities that can frustrate consumers. Billing processes are more efficient with CashBox, but more importantly, it supports higher levels of customer satisfaction and retention.”

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 16, 2015

Headline News from PaymentsNews.com - April 16, 2015

On the Web:

  • A Stanford professor claims to have invented a Bitcoin-like system that can handle payments faster and with more security - MIT Technology Review - "Stanford professor David Mazières thinks he has a faster, more flexible, and more secure alternative. If Mazières is correct, his technology could make digital payments and other transactions cheaper, safer, and easier—particularly across borders. He released the design for his system in a white paper last Wednesday."
  • Bitcoin and the Cypherpunks - Reason.com - "Decentralized peer-to-peer marketplaces became technically possible only in 2009, when a shadowy figure calling himself Satoshi Nakamoto gave the world a new form of virtual currency called Bitcoin. More than just a new form of money, Bitcoin is also a protocol, or system for managing information, that has the capacity to undergird—and revolutionize—much of the Internet."
  • Former Yahoo Exec Appointed COO of Ripple Labs - CoinDesk - "Ripple Labs has appointed former Yahoo and AOL executive Brad Garlinghouse as its new COO."
  • How Do Speed and Security Influence Consumers' Payment Behavior? - Federal Reserve Bank of Boston - "This brief draws upon new data from the 2013 Survey of Consumer Payment Choice and employs econometric modeling and simulation to complement FRFS-commissioned market research on end users' preferences."
  • U.S. Consumer Holdings and Use of $1 Bills - Federal Reserve Bank of Boston - "This report examines the $1 bill holdings of adults in the United States using data from the Diary of Consumer Payments Choice (DCPC)."

On the Wires:

  • American Express and Jawbone Partner to Launch UP4 – The First-Of-Its-Kind Fitness Wearable with Built-In Amex Payments Technology - "In partnership with Jawbone, a leader in advanced fitness trackers, we have created a seamless payment experience all in the tap of a wrist," said Leslie Berland, executive vice president, Digital Partnerships and Development at American Express. "We believe this unique technology will delight our active, digitally-savvy Card Members in a powerful way and drive a new type of engagement at hundreds of thousands of merchant locations nationwide.”
  • Target Announces Settlement Agreement with MasterCard - Scott Kennedy, President, Financial & Retail Services at Target, stated “We are hopeful that Target’s agreement to pay up to $19 million to settle the claims of MasterCard and its issuers will result in a high level of issuer acceptance. Target intends to continue to defend itself vigorously against any assessments made by MasterCard on behalf of MasterCard issuers that do not accept their offers.”
  • National Geographic and First Bankcard Launch New Visa® Card with Exclusive Discounts, Special Access and Member Benefits - “For more than a century, National Geographic explorers and photographers have traveled the world to capture stunning images and collect compelling stories,” said Krista Newberry, National Geographic’s senior vice president of licensing, North America. “Together with First Bankcard, we’ve created an innovative program that encourages consumers to explore with us by providing meaningful travel benefits, unique access to our content, membership benefits and relevant discounts."
  • PayPal: Strong American Dollar Driving European Travel - “Our research found that one in five (21 percent) of Americans are considering a trip to Europe and nearly half of those travelers cite the strengthening dollar as a factor in their decision-making (47 percent),” said Carey Kolaja, Vice President, Head of Global Consumer Products at PayPal. “Yet, for many, international travel is still a daunting concept – shrouded by the mysteries of currency exchange rates, foreign transaction fees and financial safety. As a leading global payments processor, PayPal is uniquely positioned to help alleviate concerns, making planning a trip to Europe as simple, seamless and secure as going to the local grocery store.”

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 15, 2015

Headline News from PaymentsNews.com - April 15, 2015

On the Web:

On the Wires:

  • Ingenico Group Enables Long John Silver’s to Deploy an End-to-End Secure Payment Solution Combining EMV and Point-to-Point Encryption - “As we prepared for the advent of chip-based cards, we also wanted to implement a solution with point-to-point encryption (P2PE) to provide bulletproof security over our customers’ cardholder data, while also easing the process of meeting increasingly complex PCI requirements,” said Craig Daniel, chief financial officer for Long John Silver’s.
  • NCR Signals Massive Makeover to Banking with Highly Secure Cloud-Based ATM Software Platform - “NCR’s Kalpana software is the most disruptive change to the ATM ecosystem in decades. Business and consumer applications are increasingly turning to enterprise or cloud-based solutions that reshape security and enable fast, nimble and dynamic customer experiences,” said Andy Heyman, president, NCR Financial Services. “Kalpana software is ideal for financial institutions and independent ATM deployers looking to improve security, quickly advance service delivery through technology, and reshape their cost to serve.”
  • Trustonic and Mobeewave Partner to Provide Unprecedented Security Level in Mobile Payment - "Up to now mPOS solutions have not completely secured the interaction with consumers on mobile devices unless merchants used add-on devices. Now, just by downloading the Mobeewave mPOS application into merchant mobile devices supporting the Trustonic technology, the consumers will be able to securely tap their contactless card or smartphone against the merchant’s mobile device. The Trustonic TEE technology secures the interaction with the cardholder on the merchant’s device itself by leveraging the Trusted User Interface."

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 13, 2015

Headline News from PaymentsNews.com - April 13, 2015

On the Web:

On the Wires:

  • InstaMed Delivers Apple Pay to Healthcare - “Approximately 20 percent of consumers have unpaid healthcare bills as a result of confusion in the payments process. This will only grow as more and more consumers continue to enroll in high deductible health plans,” said Chris Seib, CTO and Co-Founder of InstaMed. “To resolve consumer confusion and rising bad debt, the healthcare industry must deliver a simple, secure and private payment process with innovative technology, including Apple Pay."
  • YapStone Names Daniel Issen as Chief Technology Officer - “We are thrilled to have Daniel join as YapStone’s CTO. He brings impressive technology and payments experience from his roles at past companies, including Amazon, Google, PayPal and eBay, and he’ll be instrumental to our growth,” said Tom Villante, Chairman & CEO and Co-Founder of YapStone.

Glenbrook's 2015 Payments Education Update!

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 16, 2015

Headline News from PaymentsNews.com - March 16, 2015

On the Web:

  • Alibaba’s Jack Ma Demos Pay-With-Your-Face Technology - Re/code.net - "In Hannover, Germany, Sunday night, where he was a headline speaker at the CeBit conference getting under way this week, Ma capped his speech by demonstrating a payment system on a smartphone using facial recognition technology."
  • Naver Bets On Mobile Payment Boom - Wall St. Journal - "The new mobile payment service, to be called Naver Pay, will allow consumers to buy goods online using smartphones or traditional computers in some cases without having to punch in any passwords."
  • BMO Harris Bank launches cardless ATMs - Chicago Tribune - "Generally, cardless cash machines work by creating a QR code, a square matrix-style bar code. Customers sign into the mobile app and hold their smartphones over the QR code on the ATM, which dispenses the desired cash."
  • Withdraw Cash Without a Card? There’s an App for That - Wall St. Journal - "The latest gambit by banks to reduce card fraud? Get rid of the card."
  • Authorities Closing In on Hackers Who Stole Data From JPMorgan Chase - New York Times - "Law enforcement officials believe that several of the suspects are “gettable,” meaning that they live in a country with which the United States has an extradition treaty."

On the Wires:

  • TA Associates Announces Investment in YeePay - “Key drivers in the third-party payment industry in China include growth in the issuance of bank and credit cards, increased consumer spending, growth in online and mobile payments, and government promotion of non-cash payments,” said Naveen Wadhera, Director and Co-Head of Asia at TA Associates Asia Pacific Ltd. “It is estimated that only 10 percent of small and medium-size businesses in China have a point of sale payment solution, so we expect penetration of that offline market will also drive industry growth.”
  • WEX to receive Australian MasterCard® Issuing Licence under new regulatory framework - "The Australian MasterCard issuing license was granted following regulatory changes made by the Reserve Bank of Australia to the MasterCard and Visa access regimes, which came into effect on 1 January 2015. The changes were designed to encourage access to and greater competition in the Australian market."
  • NCR Software Drives Transaction Switching at Mexico’s Largest Electronic Payments Processor, E-Global - “With the high volumes of transactions handled by E-Global on a daily basis, the support and performance of its transaction platform is essential,” said Steve Nogalo, vice president and general manager of Payments, NCR Financial Services. “With Authentic, E-Global has the flexibility and visibility it needs to deliver a best-in-class experience to its merchants and the consumers they serve.”

Glenbrook's 2015 Payments Education Update!

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 04, 2015

Headline News from PaymentsNews.com - March 4, 2015

On the Web:

  • Credit Card Breach at Mandarian Oriental - Krebs on Security - “We can confirm that Mandarin Oriental has been alerted to a potential credit card breach and is currently conducting a thorough investigation to identify and resolve the issue,” the company said in an emailed statement.

  • Bitcoin for the Unbanked - Foreign Affairs - "How about combining M-Pesa with a digital currency? It would offer all the advantages of M-Pesa, but would make the costs to users even cheaper for those who import money into that system from abroad, because those remittances from rel atives in London or New York would arrive via bitcoin rather than the traditional banking system. Call it BitPesa."

  • Change agent: PayNearMe partners with Grameen America to help lift women out of poverty - PandoDaily - "PayNearMe, the cash transaction network that allows US consumers to pay bills and make online purchases using cash at more than 10,000 participating retailers across the country, has done just that. The company has entered a nationwide partnership with Grameen America, the nonprofit microfinance organization providing loans, savings programs, financial education, and credit establishment to women who live in poverty."

  • Antonopoulos to Australian Senate: Bitcoin Regulated by Math - Inside Bitcoins - "Contrary to popular misconception, bitcoin is not unregulated. Rather, several aspects of the bitcoin network and financial system are regulated by mathematical algorithms. The algorithmic regulation in bitcoin offers predictable, objective, measurable outcomes. Algorithmic regulation provides certainty without nationalist or geopolitical influence."

On the Wires:

  • Cardtronics Launches ATMpass - Tom Pierce, chief marketing officer, Cardtronics, said: "Consumers are interested in using the most convenient ATMs - Cardtronics ATMs - but less so in paying a surcharge fee. With ATMpass, Cardtronics offers cardholders the convenience of national retailers plus the ability to avoid ATM surcharge fees. Having cash access at a surcharge-free ATM in a retail location that is part of their day-to-day life is important to many people. For consumers who feel limited by their current ATM options, or don't have any surcharge-free ATMs near their home, work or school, ATMpass gives them control over ATM surcharge fees and the freedom to choose convenience."

  • MasterCard: Happy Birthday Priceless Surprises! - "Priceless Surprises is among the highest social media engagement generating initiatives live today, beating U.S. Twitter benchmarks within financial services and Facebook benchmarks across consumer industries. When compared against other MasterCard programs, Priceless Surprises engagement rate is three times higher."

  • Global Payments’ Integrated Solutions Division, OpenEdge, Secures Partnership with New West Technologies for Integration to Microsoft Dynamics AX - OpenEdge President, Sid Singh, added, “We’re pleased that New West and our other partners are experiencing the benefits of integrations with EdgeShield, a pre-certified, EMV compliant solution combined with point-to-point encryption and tokenization security.”

  • Merchants’ Choice Payment Solutions Powers its All-New Foundry POS Solution with Powa Technologies - "MCPS’ Foundry POS is a powerful, cloud-based software application designed to meet the specific business needs of the retail and restaurant industries. Features include access to real time reports, including sales, inventory and employee management, as well as full integration with its Merchant Foundry CRM system."

  • ShopKeep Launches Serverless Sync - “With Serverless Sync, waiters and bartenders will no longer have to return to an individual register to update their checks or wait for a register to become available to input orders,” commented Jason Richelson, Founder and Chief Strategy Officer of ShopKeep. “Instead, open checks will be accessible from any register running on the same WiFi network, allowing staff members to spend more time providing the best possible service.”

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!

March 03, 2015

Headline News from PaymentsNews.com - March 3, 2015

On the Web:

On the Wires:

  • Visa, Pizza Hut and Accenture Develop Connected Car Commerce Experience - “By 2020 it is estimated that more than 250 million vehicles worldwide will include some form of embedded connectivity1,” says Bill Gajda, senior vice president of Innovation and Strategic Partnerships, Visa Inc. “As the number of connected cars on the road increases, so does our ability to bring secure online commerce to consumers everywhere. We initially focused on a specific use case – ordering a meal on your way home – but we envision a world where consumers can seamlessly make many of their everyday purchases from the car.”
  • MasterCard and eTranzact Make it Easier for Millions of Nigerians to Receive Remittances - “For millions of Nigerians, the receipt of funds from friends and family is an important lifeline. HomeSend provides senders across the globe and the recipients in Nigeria with a convenient, safe, and cost effective money transfer channel,” says Omokehinde Ojomuyide, Vice President and Area Business Head for West Africa, MasterCard.
  • Elavon's Simplify Application Makes Payment Security for Mid-to-Large Size Businesses Simple - "Simplify is a software application that resides within a payment terminal that is integrated with a customer’s current POS or Property Management System (PMS). The application uses a layered approach to security that combines encryption, tokenization and EMV to mitigate vulnerabilities while cardholder data is in-transit, in-use and at-rest."
  • Stratos Launches First-To-Market Connected Payment Card, Shipping April 2015 - “Stratos exists to empower consumers to make smarter, more secure payment decisions – all with the benefit of consolidating the cards in their wallets,” said Thiago Olson, Co-Founder and CEO of Stratos. “Replacing the dumb plastic we carry every day, Stratos Card is connected hardware designed to improve how we pay with more security, better decisions and ease of use. Stratos is reinventing your wallet and cards just like the iPod and iTunes reinvented your CD collection.”

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 25, 2015

Headline News from PaymentsNews.com - February 25, 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 19, 2015

Headline News from PaymentsNews.com - February 19, 2015

Glenbrook Meetup in Chicago - Wednesday, Feb 25

On the Web:

  • American Express Loses Antitrust Suit Over Merchant Rules - Bloomberg - "AmEx failed to show that its so-called non-discrimination provisions, imposed on merchants who agree to accept its card, don’t harm competition, U.S. District Judge Nicholas Garaufis in Brooklyn said in his ruling Thursday."
  • Visa Reaches Deal with Russia Over Payment System - Wall St. Journal - "Visa Inc. will transfer the processing of transactions made on its cards in Russia to a local payment system, Russia’s central bank and the company said Thursday."
  • Why Slow Electronic Payments Can Cause Cash Flow Problems - NPR Morning Edition - "In a recent speech to bankers, Richard Cordray, who heads the Consumer Financial Protection Bureau, said roughly half of all bank fees could be attributed to a slow payment system."
  • NPCI launches Unified Payments Interface - Livemint - "Any kind of payment, including for shopping and paying taxi fares, can be done using an application downloaded on a smartphone once all banks adopt the system. The pilot project will be launched in about four-five months, managing director and chief executive officer A.P. Hota said."
  • Stanford DFJ Entrepreneurial Thought Leaders Series: Putting Startup Success in Perspective - John Collison (Stripe) - "John Collison, co-founder and president of the online payment system Stripe, explains how even the most celebrated startups repeatedly encountered uncertainty and failures along the way. In conversation with Stanford Professor of the Practice Tina Seelig, Collison shares his thoughts on how a venture's path can evolve after its early days, even as the vision holds constant."
  • Heartland’s Decision to Wind Down Leaf Throws Spotlight on Tablet Software - Digital Transactions - "Meanwhile, some observers say the decision to wind down Leaf could be an early indicator that the 5-year-old tablet point-of-sale market is undergoing a shakeout."
  • American Express Will Debut ‘Inspiring’ Celebrity Ads at Oscars - Wall St. Journal - "The credit card giant will debut four 30-second heart-felt ads, created by WPP-owned Ogilvy & Mather, that feature noteworthy people who have beaten the odds and happen to use American Express."
  • Dell Expands Bitcoin Payments to UK and Canada - CoinDesk - "In remarks, Walsh suggested that the decision was prompted by customer demand and the positive feedback the company had so far received for its US offering."
  • Transit Mobile Payments: Driving Consumer Experience and Adoption - Federal Reserve Bank of Boston - "The author conducted interviews with 16 executives representing transit agencies, transport system integrators and companies that provide digital security solutions, mobile ticketing platforms, and mobile marketing solutions, and conducted secondary industry research. The purpose of the research was to assess whether transit mobile payments can help drive adoption of mobile payments in the US..."
  • Lenovo accused of compromising user security by installing adware on new PCs - Guardian - "It leaves any Lenovo user permanently open to a “man in the middle” attack any time they use a public Wi-Fi network, letting an eavesdropper read users’ web browsing at will."

On the Wires:

  • American Express Plans To Appeal Federal Court Ruling In Government Lawsuit - “American Express is disappointed in the court’s ruling, which we believe will harm competition to the detriment of consumers and merchants. American Express intends to appeal the court’s ruling at the appropriate time.”
  • US Treasury announces partnership with digital wallet providers PayPal, Dwolla for online payments - "The goal of these partnerships is to expand the options customers have for transactions with the Federal Government, providing customers greater choice and a better customer experience. For example, customers required to submit a court filing fee at a U.S. Court, or citizens who wish to make a donation to the National Endowment of the Arts, will have similar payment options currently available to them on popular private sector websites."
  • NPCI initiates an ecosystem for Unified Payments Interface - "National Payments Corporation of India (NPCI), the umbrella organization for all retail payment system in India, has taken up a new initiative of implementing “Unified Payment Interface” to simplify and provide a single interface across all systems. The new interface is designed to enable all account holders to send and receive money from their smartphones with a single identifier – Aadhaar number, mobile number, virtual payments address – without entering any bank account information."
  • Visa Extends Easy and Secure Online Payments to New Markets Through Roll-out of Visa Checkout - "Today consumers from ten countries can sign up for Visa Checkout at www.visacheckout.com and start using the service. In the coming months, Visa will extend the service into new regions, so that by the end of 2015 Visa Checkout will be available in the following 16 markets: the U.S., Australia, and Canada ... as well as Argentina, Brazil, Chile, China, Colombia, Hong Kong, Peru, Malaysia, Mexico, New Zealand, Singapore, South Africa and United Arab Emirates."
  • Branch Banking Remains Prevalent Despite the Growth of Online and Mobile Banking - "The study identifies four main factors that have influenced the number and distribution of banking offices over time: population growth, banking crises, legislative changes to branching laws, and technological innovation. In terms of technological change, there is little evidence that the emergence of new electronic channels for delivering banking services has substantially diminished the need for traditional branch offices where banking relationships are built."
  • FinTech Startup Azimo Shakes up Global Money Transfer Services to China - "The new service will provide Azimo’s potential 350 million European customers with the ability to send money direct to every personal bank account in China from just £/€1 for any amount sent."
  • FIS Demonstrates Caliber of Information Security with New ISO Certification - As FIS’ certification states with respect to meeting this standard: “The FIS ISMS supports the operations of strategic data centers by providing a secure and sustainable computing environment to support global financial institutions and commercial clients through the implementation of secure practices and work relationships with supporting functions.”

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 13, 2015

Headline News from PaymentsNews.com - February 13, 2015

On the Web:

  • Credit card giant moves to devalue hacked data - Politico Pro - "Visa’s larger goal is to replace the card data stored by e-commerce retailers with tokens and bind those tokens to a particular merchant. That means tokenized credit card data stolen from Amazon couldn’t be used to buy something on eBay."
  • Will SBOs Invest In Mobile Payments? - eMarketer - "According to a December 2014 study by Rocket Lawyer, 60.4% of US small-business owners (SBOs) said they would consider adopting mobile payments, such as Apply Pay, Google Wallet or Square, in 2015."
  • What is the Significance of Bitcoin’s Price? - Xapo Blog - "This process will take many years to fully develop, and mature, not unlike the early days of the internet, but we’re on track, despite anyone who thinks the price of bitcoin says otherwise."
  • Omaha is ‘the heart and soul’ of First Data, CEO says - Omaha.com - "First Data employs 5,000 people in Omaha, or more than 20 percent of its total workforce of 24,000. Omaha is where the payment processing company, now based in Atlanta, got its start in 1971."

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 09, 2015

Headline News from PaymentsNews.com - February 9, 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 04, 2015

Headline News from PaymentsNews.com - February 4, 2015

On the Web:

On the Wires:

  • Wells Fargo Customers Can Now Redeem Credit Card Rewards at ATMs - “Customers live their lives on-the-go and being able to conveniently and simply access their accounts and rewards when and how they want is important,” said Alicia Moore, head of Wells Fargo ATM Banking. “We are always looking for ways to add innovative features and benefits to our ATM network, which gives customers access to their money and accounts 24 hours a day, 365 days a year. By providing customers the ability to redeem rewards for cash or account credit directly at the ATM, we’ve made it more convenient for them to feel truly rewarded for doing business with Wells Fargo.”
  • Consumers Can Now Use Their BECU, Fifth Third, First Niagra and Hungtington MasterCard with Apple Pay - "MasterCard cardholders with a consumer credit or debit card from BECU, Fifth Third, First Niagara and Huntington National Bank now have access to easier, more secure everyday payments through Apple Pay."
  • First Tech Federal Credit Union Selects MasterCard for Member Payment Solutions - “MasterCard offers our members the very best in card payment solutions that will enable them to better manage their financial transactions with First Tech while also providing additional security,” said Greg Mitchell, chief executive officer of First Tech Federal Credit Union.
  • First Data Receives Data Security Approval from UK Information Commissioner’s Office - “We are committed to setting the industry standard for superior data privacy protection,” said Cindy Armine-Klein, Chief Control Officer at First Data. “By conforming to the strict data privacy standards set forth by the EU, we can offer our clients the peace of mind that comes with knowing they have a trusted partner managing their data.”
  • Four More PSCU Credit Unions Enable Members to Use Apple Pay - "PSCU announced today that Visa cardholders with consumer debit and credit cards from Altra Federal Credit Union (Onalaska, WI), Andrews Federal Credit Union (Suitland, MD), and Wescom Credit Union (Pasadena, CA); and members with credit cards from BECU (Tukwila, WA) now have access to Apple Pay..."
  • Remitly Expands to India - "Remitly’s coverage in India spans a network of over 120 banks and their branches. Instant direct deposit is available for many banks year-round, 24/7, including ICICI, Yes Bank, and PNB. Four-hour deposit is available during regular Indian banking hours for all other banks."

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!

January 13, 2015

Headline News from PaymentsNews.com - January 13, 2015

On the Web:

  • Toward Better Privacy, Data Breach Laws - Krebs on Security - "President Obama on Monday outlined a proposal that would require companies to inform their customers of a data breach within 30 days of discovering their information has been hacked. But depending on what is put in and left out of any implementing legislation, the effort could well lead to more voluminous but less useful disclosure."
  • Stanford to host White House Summit on Cybersecurity and Consumer Protection - Stanford News - "The White House announced Tuesday that it will host a Summit on Cybersecurity and Consumer Protection at Stanford on Feb. 13, convening major stakeholders to help shape public and private sector efforts to protect consumers and companies from growing network threats."

On the Wires:

  • Gujarat State Government and MasterCard sign Memorandum of Understanding to Accelerate Electronic Payments - “This MOU represents a joint effort to drive innovation and development of electronic payments in Gujarat, in line with the State Government’s goal to make Gujarat the first digital payments state in India. MasterCard will leverage its global expertise to deliver new innovations and the right payment systems, and we are looking forward to seeing fruitful results from this collaboration,” said Ari Sarker, Division President, South Asia & Country Corporate Officer, India at MasterCard.
  • First Data and UL Collaborate to Simplify EMV™ Adoption for Retailers - “Coupled with a multi-layered security program that includes tokens and encryption, EMV adoption will greatly reduce the threat of fraudulent payments at the point of sale, but the implementation can be complex and burdensome. We believe this collaboration with UL will help to simplify the process a merchant must complete to certify compliance with EMV standards.”
  • Elavon Joins Verizon Partner Program - “This powerful combination makes the era of Big Data accessible and relevant for small businesses,” said Elavon’s President of North America Guy Harris. “By building in robust customer loyalty and security features more commonly found in high-end POS options, this user-friendly solution enables SMBs to serve their customers better while providing business insights to help them compete more effectively.”
  • Intuit Launches QuickBooks Online Self-Employed to Serve Freelancers, Independent Contractors - “As the on-demand economy continues to expand, there will be unprecedented income opportunities for freelancers. But this work comes with a host of new challenges: co-mingled and confusing business expenses, quarterly and year-end tax headaches, and a general lack of visibility into their ‘real income’,” said Alex Chriss, vice president and general manager of Self-Employed Solutions at Intuit.
  • TSYS Releases Insights on Payment Preferences of Business Travelers and Travel Administrators - “One surprising finding is that despite high satisfaction with corporate travel card programs among both business travelers and travel administrators, personal card usage among business travelers remains high,” said author Christina Hall, senior product development manager, TSYS Commercial Services. “Additionally, the technologies that business travelers use in their personal banking and credit card relationships greatly influence expectations for their corporate credit cards.”
  • Fitch: AmEx, Discover Can Manage EU Card Interchange Fee Caps - "Fitch believes increased regulation could have some unintended consequences. For example, card members could face higher fees and/or reduced benefits as banks re-assess these programs and seek to maintain appropriate profitability targets. Fitch believes these could potentially take the form of annual membership fees, account maintenance or other fees and/or more limited rewards."

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!

January 12, 2015

Headline News from PaymentsNews.com - January 12, 2015

On the Web:

  • MasterCard Reaches Deal with Russia - Wall St. Journal - "MasterCard and Russia’s national payment system agreed on Dec. 30 to gradually move the processing of the U.S. company’s transactions within Russia under the roof of its Russian counterpart, the central bank said."
  • Alibaba Pays to Play in India - Wall St. Journal - "The Indian company’s prize asset is Paytm, a mobile-payments platform, which also runs an online marketplace in India that matches merchants to shoppers, similar to Alibaba’s business model in China."
  • Level Money has joined Capital One - Level Money Blog - "Much younger and nimbler than any other top bank, Capital One is a founder-led company on a mission to transform the way banking is done. Taking a technology-based, consumer-centric focus to banking is core to what Capital One does, and on that team we found a deep passion for solving old problems in a new way."
  • PayPal Credit Expansion Now Lets Merchants Set Terms, Including Option For Interest-Free Payments - TechCrunch - "PayPal Credit is expanding its support for monthly payments with an option for retailers that allows them to decide on the number of months and interest rates that work best for their customers."
  • Why Tort Liability Won’t Produce Good Cybersecurity - Steptoe Cyberblog (Stewart Baker) - "In the end I doubt that liabilities to issuing banks will drive much cybersecurity either, not because the claims are low — they’re more likely to be in the $50 per card range — but because establishing liability will not be all that easy and because things like tokenization will likely prove much cheaper than improving security.)"
  • SWIFT appoints new Chief Technology and Chief Operations Officers - SWIFT - "SWIFT announces the appointment of Craig Young as Chief Technology Officer and Marcel Bronmans as Chief Operations Officer. Both Young and Bronmans will sit on SWIFT's Executive Committee and report directly to CEO Gottfried Leibbrandt."

On the Wires:

  • Heartland First to Offer Comprehensive Merchant Breach Warranty - "Heartland’s breach warranty is offered at no charge to its Heartland Secure™ merchants in the first year and can be extended for $8.33 per month per card-entry device. To be covered under the warranty, a merchant must have a Heartland Secure-certified device and process payments through Heartland on that device."
  • Verifone Offers Merchants a Single mPOS Payment Terminal to Support All Major Smart Device Options - “The prospect of having to purchase new mPOS devices for sales associates when smartphones and tablets are upgraded has been a major inhibitor to mPOS investment among retailers,” said Mark Shockley, senior vice president of Mobile Solutions for Verifone. “Verifone’s single, modular solution will offer the ultimate in mPOS flexibility, allowing it to persist across changes in devices, even if somebody wants to make a complete switch from one OS to another.”
  • Vantiv Certifies Verifone’s Secure Commerce Architecture - “Vantiv’s certification of SCA from Verifone combined with Point-to-Point Encryption ensures many more merchants can significantly reduce their exposure to large scale payment data breaches, and further reduce the complexity associated with EMV certification,” said Rob McMillon, vice president of Product Security for Verifone.
  • Bank of America Launches National Advertising Campaign for Preferred Rewards - “When we spoke to our clients to find out what they valued most from a rewards program, they clearly said they seek everyday rewards and benefits that they would actually use,” said David Dintenfass, Global Wealth and Investment Management and Consumer Marketing executive at Bank of America.
  • NCR Unveils a New ‘Grab and Go’ Self-Checkout Solution - "Whether in the supermarket or at a convenience, department, specialty or DIY retailer, there is a large amount of checkout traffic that can be handled with this card-only, small footprint solution,” says Dusty Lutz, general manager self-checkout solutions at NCR Retail. “This technology is ideally designed for ‘grab-and-go’ convenience for driving more revenue and convenience during peak shopping hours.”
  • FreedomPay Announces PCI-Validated Point-to-Point Encryption And EMV Support Through Newly Enhanced Microsoft Azure - “The FreedomPay Commerce Platform on Azure offers customers security, scalability and access to real-time data,” said Christopher Kronenthal, Chief Technology Officer at FreedomPay. “Microsoft has enabled FreedomPay to deploy one of the industry’s most comprehensive payment security standards and transactional data services to merchants embracing a real-time retail ecosystem.”
  • BMO Launches iPad App with Integrated Access to Banking and Self-Directed Investing - "With one streamlined login, customers can easily manage their personal banking and self-directed investing with the added benefit of a personal financial management tool," said Cesar Rainusso, Vice-President, Digital Channels, BMO Financial Group.

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!
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