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Debit Cards

Welcome to the News View for "Debit Cards".

Here, on these archive pages, you'll find all of the articles on Payments News for Debit Cards listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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June 30, 2016

Headline News from PaymentsNews.com - June 30, 2016

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

ON THE WEB

ON THE WIRES

  • Retailers Applaud Circuit Court Decision Rejecting Visa/MasterCard Settlement - "RILA enthusiastically welcomes the circuit court's decision to throw out this harmful settlement," said Deborah White, executive vice president and general counsel. "Quite simply, the settlement orchestrated by the card networks and banks would have undermined merchants' legal rights forever and would have allowed Visa and MasterCard to impose higher and higher swipe fees with impunity. Today's decision is a victory for all merchants and consumers."
  • IBM and Crédit Mutuel Arkéa Pioneer the Use of Blockchain to Manage Customer Identity and Improve Customer Satisfaction - "Blockchain is a transformative agent in our operational application, as proven by this project -- the first of its kind in France. This pilot offers a complete view of customers' documents across our distributed network," said Frédéric Laurent, COO Innovation & Operations, Crédit Mutuel Arkéa. "The project helped us to understand and master blockchain for other client uses. Now, we are ready to incorporate this technology in our ecosystem."
  • Number of debit cards reaches 100 million for first time - Richard Koch, Head of Policy at The UK Cards Association, said: “Since they were first launched in the UK in June 1987, debit cards have become a prime feature in the nation’s wallets. Now, almost 30 years later, more than half of all retail sales in the UK are made using a debit card. More recently, it has been the growth of contactless, as well as the increasing use of debit cards for online shopping, that has been driving the changes.”
  • Danish local and regional banks launch a mobile wallet powered by Nets - "We are excited to be the first in Denmark to announce our plans to deliver bank-issued mobile wallets from our members, providing a mobile payment solution that delivers real payment convenience to our customers. End users will be able to pay just by 'tapping' their phone at the contactless point-of-sale," comments Søren Nicolaisen, Managing Director, Danish Regional Bankers Association.
  • J.P. Morgan Announces In-Residence Program for Fintech Startups - “In-Residence presents a unique opportunity for talented, ambitious startups to be truly supported by J.P. Morgan’s global resources,” said Sanoke Viswanathan, Chief Administrative Officer of J.P. Morgan’s Corporate & Investment Bank. “By giving them unparalleled access to J.P. Morgan’s people and network, we hope to enhance their ability to create technology-led solutions that can be put into practical use for our industry.”
  • MGT Announces Initial Phase of Multi PetaHash Bitcoin and Blockchain Project - "The current pricing environment of bitcoin and other digital assets coupled with the release of new 16 nanometer ASIC chips provides a significant opportunity to generate excellent profit margins. "

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

COMING UP IN ATLANTA ON FRIDAY, JULY 15

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

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

June 27, 2016

Headline News from PaymentsNews.com - June 27, 2016

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

ON THE WEB

ON THE WIRES

  • MasterCard Commits to the Inclusion of 40 Million Micro and Small Merchants - “Real financial inclusion happens when people can use their new financial accounts to do what many of us take for granted,” said Ajay Banga, president and CEO of MasterCard. “Helping micro and small merchants connect to electronic payments will accelerate adoption and usage of new financial tools for the unbanked and will have a true impact on people’s daily lives.”
  • Wells Fargo to Offer Real-Time P2P Payments to 17 Million Mobile Customers - "Beginning August 1, Wells Fargo’s service will allow its customers to send funds in real-time at no cost to any customer of a bank that participates in the real-time service, which operates on Early Warning’s clearXchange™ network. Wells Fargo customers can already receive real-time payments at no cost from customers at any bank participating in the network."
  • New FIDO Certified Bluetooth Solution for Secure Mobile Internet Usage - " Infineon Technologies AG today announced the first FIDO-certified Bluetooth low energy (BLE) reference design for wireless authentication tokens. By using such a token in addition to their password, consumers can conveniently and securely authenticate their online activities on mobile devices."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

COMING UP IN ATLANTA ON FRIDAY, JULY 15

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

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

June 09, 2016

Headline News from PaymentsNews.com - June 9, 2016

ON THE WEB

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

May 25, 2016

Headline News from PaymentsNews.com - May 25, 2016

ON THE WEB

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

ON THE WIRES

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

PAYMENTS IN PORTLAND

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

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

May 23, 2016

Headline News from PaymentsNews.com - May 23, 2016

ON THE WEB

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

ON THE WIRES

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

PAYMENTS IN PORTLAND

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

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

May 11, 2016

Headline News from PaymentsNews.com - May 11, 2016

ON THE WEB

  • A Large Merchant Focuses on its Payments Strategy - PaymentsViews.com (George Peabody) - "To learn what's top of mind for a large scale retailer, take a listen to Dean Sheaffer, SVP of Financial Services at Boscov’s Inc., the U.S.’s largest family-owned department store. In this Payments on Fire podcast, Dean addresses payments as a sales tool, payments and data security, and the potential of Faster Money."
  • The Problem With Those Annoying Chip Cards - Money - "At this point you may be wondering—what was wrong with the old system? Why can’t I just avoid the longer wait and swipe my card like I used to?"
  • Four Genuine Blockchain Use Cases - CoinDesk (Gideon Greenspan) - "To begin with, the first idea that we (and many others) started with, appears to be wrong. This idea, inspired by bitcoin directly, was that private blockchains (or "shared ledgers") could be used to directly settle the majority of payment and exchange transactions in the finance sector..."
  • Cultivating Female Leadership in #Payments - TMG Blog - "While women have made great strides in achieving leadership roles in the financial services industry, there is much work yet to be done."
  • Checking in with spear phishing, criminals check out with hotel credit card data - ArsTechnica - "Hotel chains focus on hospitality, but their security practices have made them entirely too hospitable a target for data theft."

ON THE WIRES

PAYMENTS IN PORTLAND

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

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

April 20, 2016

Headline News from PaymentsNews.com - April 20, 2016

ON THE WEB

  • Payments on Fire Podcast: On Internet Money – Talking Circle.com with Jeremy Allaire - PaymentsViews.com (George Peabody) - "The view that moving money is or should be an internet-wide capability is a guiding principle for Jeremy Allaire, founder and CEO of Circle. Take a listen to Jeremy on how Circle is connecting US dollars to British pound sterling, his plans for the euro, and how multiple technologies – blockchain and machine learning among them – enable money movement for Circle’s customers."
  • Why the Big Banks Can't Imagine Their Own Demises - New Yorker - "Later this year, the big banks will be given another shot at getting their living wills right. It’s important for the country that they do so, because we can’t have a sensible debate about whether and how to break up these institutions until we know how much of a risk they pose."

ON THE WIRES

  • New comScore Study Shows PayPal Online Checkout Conversion is 87.5%, Outperforms Competitors by 36% - “This comScore study shows that shoppers are completing their purchases with PayPal, at almost twice the rate of legacy systems,” said Bill Ready, senior vice president of product and engineering, PayPal. “As more commerce moves to mobile, having an easy way to checkout moves from a nice-to-have to a must-have. Last quarter, our customers made more than 15 million transactions a day on the PayPal platform, with 28% of them from mobile devices.”
  • SWIFT and Accenture outline path to Distributed Ledger Technology adoption within financial services - “Since the emergence of DLTs, the financial services industry has been looking for answers to questions about the potential use of these new technologies,” says Fabian Vandenreydt, Head of Securities, Innotribe and the SWIFT Institute, SWIFT. “The technology assessment has given us valuable insights into the necessary requirements for DLTs to succeed in financial services. It provides a clear state-of-play, outlining the different factors the technology needs to address, and the current maturity of DLTs in each of these areas."
  • Federal Reserve Bank of Chicago / Visa Inc. Convene Milestone Tenth Annual Global Financial Literacy Summit With Eye Toward Future - "At Visa, we have found that our most effective financial literacy programs come from strong partnerships between the public and private sector," said Nat Sillin, Visa's program lead for Financial Literacy. "Today's summit brings together well-respected leaders for an engaging discussion of how to improve financial education globally. We are encouraging summit attendees and webcast viewers to make their own commitment to advance personal finance education, which they can do by visiting www.finlitsummit.org."
  • Discover Global Network Signs with Computop to Increase International E-Commerce Merchant Acceptance - "This agreement is part of Discover Global Network’s ongoing effort to increase global acceptance, both online and in-store, through partnerships with leading payment service providers. By working with Computop, all cards running on the Discover Global Network will be provided with seamless and secure access to additional top merchants in the travel, e-commerce, hospitality and retail industries, among others."
  • RS Software Selected By Base Commerce - According to Jason Kafer, Chief Technology Officer of Base Commerce, “The depth of payments knowledge at RS Software is a critical value add to my business. I can achieve better control of the total cost of ownership related to my technology investment."
  • Samsung Pay Partners with Global POS Providers to Accelerate Mobile Payments Adoption - "Samsung announced today new partnerships with the world’s largest POS makers, including Verifone (NYSE: PAY), Ingenico Group, First Data and Clover, PAX Technology, Equinox, ID TECH, MagTek, USA ePay and OTI Global, to accelerate mobile payment adoption by ensuring the best possible user experience at merchants’ point-of-sale (POS) systems during checkout"
  • Moneris Partners with talech to Offer U.S. Merchants an mPOS and Business Management Solution via Banks - “Mobile is quickly emerging as the solution of choice for many merchants today as they look to increase their business efficiency and productivity,” said Chris Lee, President, North American Strategic Partnerships and Emerging Markets, Moneris Solutions. “With nearly half of all POS solutions expected to be mobile in the next three years, our partnership with talech allows us to deliver to merchants a complete business management solution.”
  • The Nilson Report Releases Top U.S. Debit Cards 2015 - "Bank of America, Wells Fargo, JPMorgan Chase, PNC Bank, and U.S. Bank were the top 5 issuers based on combined signature-based and PIN-based debit as well as prepaid card spending."
  • First Data Launches Clover Online Store, An All-In-One eCommerce Solution - “Clover Online Store provides business owners with an ‘all-in-one’ integrated solution that includes shopping cart functionality, web design and all of the business management features that come with Clover,” said Guy Chiarello, President, First Data.

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming up in May - both in Palo Alto, CA - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

April 12, 2016

Headline News from PaymentsNews.com - April 12, 2016

ON THE WEB

ON THE WIRES

  • First Public Consultation on SEPA Instant Credit Transfer Scheme - European Payments Council - "The European Payments Council (EPC) is today launching the public consultation on the Single Euro Payments Area (SEPA) Instant Credit Transfer (SCT Inst) scheme. The proposed scheme is the first in the world to be interoperable in a region as large as SEPA and is a response to European customer needs for faster payments."
  • Ingenico Group Acquires Think&Go NFC, the Connected Screens Start-up - "Think&Go NFC has developed a technology that enables any kind of digital display to interact with connected objects such as smartphones and transit passes... the connected screens become a vehicle for marketing tools like drive-to-store, couponing, loyalty programs and downloads."
  • SWIFT To Launch New Payments Data Quality Service - "Payments Data Quality [is] an advanced reporting and data analytics service to help financial institutions comply with new international requirements for originator and beneficiary information in payments messages."
  • MIT Adopts Ripple Validator to Advance Consensus and Blockchain Research - "In this new experiment with Ripple, we are taking MIT's experiential research approach to the blockchain, and we anticipate this collaboration will provide us new opportunities to test and deploy data applications and research."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming up in May - both in Palo Alto, CA - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

March 23, 2016

Headline News from PaymentsNews.com - March 23, 2016

ON THE WEB

  • Starbucks to Expand Customer Rewards Program Beyond Its Coffee Shops - Wall St. Journal - "The Starbucks prepaid Visa card, which is expected to be available by the end of the year, would allow card holders to earn “stars” for all purchases made on the card, which can then be redeemed at Starbucks cafes."
  • Square Teams Up With Facebook to Offer Ads That Can Be Gauged - New York Times - "Under the agreement, small businesses that use Square to process payments can buy and target Facebook advertising using Square’s software. Square will make subscription fees off the new product."
  • Is Bitcoin Really Frictionless? - Liberty Street Economics - New York Fed - "In this blog post, we show that while bitcoin transfers themselves are relatively frictionless for the user, there are significant frictions when bitcoins trade in exchange markets resulting in meaningful and persistent price differences across bitcoin exchanges. These exchange-related frictions reduce the incentive of market participants to use bitcoin as a payments alternative."
  • Tap. Pay. UK. - Android Blog - "Android Pay will support MasterCard and Visa credit and debit cards from many of the UK’s major financial institutions — including Bank of Scotland, First Direct, Halifax, HSBC, Lloyds Bank, M&S Bank, MBNA and Nationwide Building Society — with new banks being added all the time."
  • Chip-Card Payment System Delays Frustrate Retailers - New York Times - "Many of the complications were widely predicted, but the certification system has added an unexpected wrinkle — and lots of finger-pointing."
  • Court Case Over States’ Interest Rates Might Have Big Impact - Wall St. Journal - "The industry fears a change could impair their ability to sell or securitize certain debt, going so far as to pull back lending in states with stricter caps."

ON THE WIRES

  • MasterCard to Bring Android Pay to Cardholders in the UK - “We're excited to bring the simplicity and security of mobile payments to MasterCard customers with Android Pay. Soon, people will be able to use their Android device to pay at the hundreds of thousands of contactless payment terminals in the UK,” said Pali Bhat, Senior Director, Product Management, Google.
  • Debit Cards Gaining on Cash for Small Purchases - "There's a clear generational divide: 41% of people under age 50 prefer cash for small transactions and 40% like debit. Among those 50 and older, cash is the runaway winner (74%). Millennials are the most likely to use debit (46%) and credit cards (18%)."
  • UATP Partners With Payment Technology Specialist Limonetik - "As an Alternative Payment Method Aggregator, Limonetik offers over 150 different payment options across the globe which will be available to UATP Merchants through the partnership. Airlines will easily be able to fulfill their AFP needs with UATP and Limonetik."
  • EPC To Fed Chair: Durbin Amendment Rewards Retailers $36 Billion in Additional Profits, But Provides No Relief to Consumers - “Regulators and policy makers should consider the economic consequences for the most vulnerable when promulgating new regulations and recognize that the Durbin Amendment, rather than helping with this worthwhile goal, merely aided retailers to pocket $36 billion dollars to date.”
  • Global Payments Announces FinAppsParty Winners - “The FinAppsParty showcased the talent and innovation in Atlanta and London, positioning each as vibrant fintech hubs with the ability to compete with any of the technology capitals in the world,” said Frank T. Young, SVP, Global Product and Innovation. “Global Payments is thrilled to host initiatives like the FinAppsParty in support of the industry’s growth and in demonstration of our commitment to leading transformative payment innovation.”

GLENBROOK PAYMENTS EDUCATION EVENTS

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

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

March 03, 2016

Headline News from PaymentsNews.com - March 3, 2016

ON THE WEB

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

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

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

December 03, 2015

Headline News from PaymentsNews.com - December 3, 2015

On the Web

  • How Backpage Is Different from Choke Point - Credit Slips (Adam Levitin) - "The truth is that Backpage has little in common with Operation Choke Point beyond the hydraulic regulatory idea of regulating a payments processor to regulate the recipient of the payments."
  • Credit-Card Rules Have Cut $16 Billion in Fees: Report - Wall St. Journal - "The biannual industry survey released Thursday by the Consumer Financial Protection Bureau said consumers saved more than $7 billion in credit-card late fees between 2011 and 2014."
  • Goldman Sachs: 'The Blockchain can change... well everything' - Business Insider - "While the Bitcoin hype cycle has gone quiet, Silicon Valley and Wall Street are betting that the underlying technology behind it, the Blockchain, can change... well everything."

On the Wires

  • CFPB Finds CARD Act Helped Consumers Avoid More Than $16 Billion in Gotcha Credit Card Fees - “The CARD Act has helped people avoid more than $16 billion in gotcha credit card fees,” said CFPB Director Richard Cordray. “The law made it easier for consumers to evaluate costs and risks by eliminating the worst back-end pricing practices in the market. There is more work to do. But with commonsense rules in place, credit cards are safer and more affordable, credit is more available, and companies remain profitable with improved customer satisfaction.”
  • Umpqua Holdings Corporation Creates New Subsidiary, Pivotus Ventures, Inc. - Pivotus will be headquartered in California’s Silicon Valley. “Like all industries, banking must evolve quickly to adapt to changing consumer behaviors and technologies. In collaboration with like-minded organizations, Pivotus will be focused on creating new digital models that accelerate growth, add accretive revenue and enhance the customer experience across all channels,” said Ray Davis, president and CEO of Umpqua Holdings Corporation. “By bringing together the expertise of companies nationally and internationally, Pivotus will be uniquely positioned to develop and scale industry-changing innovation quickly and effectively.”
  • Axis Bank Launches Display Debit Card for NRE Customers - Commenting on the launch, Rajiv Anand, Group Executive & Head Retail Banking at Axis Bank said “We are proud to be the first Indian bank to introduce Display Debit cards for our customers. The launch of the new card further reinforces our commitment to improving customer experience by deploying cutting-edge technology solutions that provide both security and convenience.”
  • Global Payments Offers a Full Range of EMV Certified Mobile Solutions - "We continue to provide our customers access to a suite of payments technology solutions designed to be the most secure in the industry," stated Frank T. Young, SVP, Global Product and Innovation. “As we lead with innovative point-of-sale solutions, we're pleased to be among the first to market a full range of EMV certified mobile solutions delivering exceptional functionality.”

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

November 20, 2015

Headline News from PaymentsNews.com - November 20, 2015

What I'm Reading

  • This week your editor has been enjoying reading Sapiens: A Brief History of Humankind by Yuval Noah Harari.
  • Sapiens is a fascinating story about humanity on earth that I'm really enjoying reading. While not directly related to payments or fintech, it provides lots of insights into human behavior! From the description: "One hundred thousand years ago, at least six different species of humans inhabited Earth. Yet today there is only one—homo sapiens. What happened to the others? And what may happen to us?"
  • How about you? What are you reading? Drop me a quick note and tell me about it: editor@paymentsnews.com

On the Web

  • Introducing the Shift Card - Coinbase Blog - "The Shift Card is a VISA debit card that currently allows Coinbase users in twenty-four states in the U.S. to spend bitcoin online and offline at over 38 million merchants worldwide."
  • Fewer Digital Wallet Users Are Making Payments - eMarketer - "Digital wallet adoption is increasing in the US, but some common tasks such as making a payment or receiving money are actually becoming less common among users of such services, per September 2015 data."

On the Wires

  • Starwood Notifies Customers of Malware Intrusion - "Starwood Hotels & Resorts Worldwide, Inc. announced today that the point of sale systems of a limited number of its hotels in North America were infected with malware, enabling unauthorized parties to access payment card data of some customers."
  • Holiday Retail Sales Driven by Confident Shoppers with More to Spend and More to Buy, Synchrony Financial Study Finds - "Nearly half (47%) of those surveyed indicate they are more confident in their financial situation than last year (37%), and 48% plan to start their holiday shopping earlier this year. Improved finances and larger gift lists are cited as reasons that 32% of shoppers surveyed plan to spend more this season than last season, up from 21% in 2014. "
  • Wells Fargo Predicts Rise in Spending Heading into Black Friday - “Economic conditions and consumer confidence continue to improve as we head into the holiday shopping season,” said economist Michael Brown who co-authored the report with senior economist Eugenio Aleman, both part of Wells Fargo Securities Economics. “The National Retail Federation’s holiday spending survey found that the average holiday shopper is expected to spend 0.4 percent more per person than they did last year.”
  • Cardlytics Releases Holiday Consumer Spending Report - “As more consumers spend their holiday budgets closer to Christmas, the challenge for retailers is to engage shoppers at every opportunity,” said Dani Cushion, Chief Marketing Officer, Cardlytics. “Retailers should plan accordingly and adjust their strategy to offer variety in their deals, specifically targeted to each shopper profile throughout the holiday season.”
  • FIDO Authentication Poised for Continued Growth as Alliance Submits FIDO 2.0 Web API to W3C - "To carry this momentum into 2016, the FIDO Alliance today submitted to the World Wide Web Consortium (W3C), the international standards organization for the World Wide Web, a set of three technical specifications required to define a standard Web-based API designed to increase FIDO’s existing desktop, Chrome, Android and iOS reach to support other platforms."

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

September 30, 2015

Headline News from PaymentsNews.com - September 30, 2015

It's Time to Register! Upcoming Payments Boot Camps!

  • Glenbrook's fall season of payments education kicks off in October with two sessions of our Payments Boot Camp - one in the San Francisco Bay Area on October 13-14 and the other in New York City on October 20-21. Glenbrook's Russ Jones is now leading this important payments education curriculum - he'd love to meet you at one of these sessions. Contact Russ directly if you have any questions.

On the Web

  • My Half Life in Payments - PaymentsViews.com (Scott Loftesness) - "...it dawned on me that 2015 was my 30th anniversary year in the payments industry."

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!

September 10, 2015

Headline News from PaymentsNews.com - September 10, 2015

On the Web:

On the Wires:

  • Sam’s Club Locations to Accept American Express Cards - Tracey Brown, chief member officer at Sam’s Club, said: “We strive to give more value to our members – more savings, great experiences and quality merchandise. Everything we do ties back to how we can better serve our members. The acceptance of the American Express Card underscores our commitment to bring greater ease and flexibility to our members’ shopping experience. American Express – known for their exceptional customer service, loyal, higher-spending Card Members and advocacy of small businesses - will help to extend the value of membership.”
  • One of Every Four Debit Cards to be Converted to Chip by End of 2015 - "Based on these plans, 25 percent of U.S. debit cards – approximately 71 million cards – will be migrated to chip by the end of 2015. The percentage is expected to rise to 73 percent by the end of 2016 and 96 percent by the end of 2017."
  • Feedzai Partners with Socure, Offering Joint Fraud Prevention Solution for Financial Institutions - "With the Socure partnership, online and social data becomes another source of data that Feedzai's software uses to detect fraud and minimize risks. Additional data sources used by Feedzai include session clickstream, access frequency, and malware signatures, among others."
  • Federal Reserve System Appoints Payments Security Strategy Leader - "The Federal Reserve System on Thursday announced the appointment of Federal Reserve Bank of Chicago Senior Vice President Todd Aadland as its Payments Security Strategy Leader. In this role, Aadland will lead the System's activities to address fraud risk and advance the safety, security and resiliency of the payment system."

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

August 19, 2015

Headline News from PaymentsNews.com - August 19, 2015

On the Web:

On the Wires:

  • New American Express Serve® Prepaid Debit Account Earns Rewards - "American Express announced Serve Cash Back, a new prepaid debit Account option that will earn Accountholders 1% cash back on purchases. Consumers who spend in line with the 2012 – 2013 U.S. Department of Labor national averages for gas, groceries, dining out, clothing, transportation and entertainment using the Serve Cash Back Card could potentially earn more than $400 annually when earning 1% cash back."
  • In-store Shopping Experience a Major Factor in Major Purchase Decisions, Synchrony Financial Study Finds - "Results show that shoppers enjoy the immediacy and interaction of in-store purchases. Shopping in-store allows them to take the product home on the same day, see and feel the product, and interact with a store associate. Some respondents noted they simply like to shop at the retailer."

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

August 18, 2015

Headline News from PaymentsNews.com - August 18, 2015

On the Web:

On the Wires:

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

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

August 06, 2015

Headline News from PaymentsNews.com - August 6, 2015

On the Web:

On the Wires:

  • Debit Industry Changes Markedly in 10 Years of Debit Issuer Study - “The past decade saw a major shift in consumer preference to paying with debit cards, which accelerated after the 2008-2009 recession,” said Steve Sievert, Executive Vice President of Marketing and Communications for PULSE. “We believe there is still opportunity for debit growth, considering that consumer use of debit for smaller purchases is rising, and the average active debit card is used about five times per week.”
  • Worldwide EMV Payment Card Shipments Top 2.1 Billion in 2014 with 43% Issued into the United States and China, says ABI Research - ABI Research’s Senior Analyst Phil Sealy comments, “Although future growth for EMV card volumes may be limited, other revenue avenues are opening. All the major players including Gemalto, Oberthur Technologies, Giesecke & Devrient, and Morpho are balancing strategies in a bid to address next-generation opportunities."
  • BitPay Brings Bitcoin to Payments Companies on Three Continents - "During the first half of 2015, the company has signed deals with PSPs Payfirma, Sonic Payments, BillPro, Kadu, OpenPay, and Ixopay. These payments companies are based on three continents and, in total, serve more than 100 countries."
  • linked2pay® Launches Bank Centric Payments - “Bank Centric Payments leverages our proven, robust payments platform as a white label with the tools and access layers that make it easy and cost effective for a bank to provision low cost, feature-packed payment (card and ACH) solutions out to resellers and merchants (SMB and enterprise) in a secure and harmonized way" according to Robert McShirley, CEO of linked2pay.

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 21, 2015

Headline News from PaymentsNews.com - July 21, 2015

On the Web:

  • Payments on Fire Podcast #23 – Ethoca and the Power of Data Collaboration - PaymentsViews.com - "That’s what Ethoca is about. Its growing network of merchants and issuers share their fraud data to improve fraud detection and lower chargeback rates. Take a listen to this discussion with Keith Briscoe, Ethoca’s CMO, on what’s possible through collaboration."
  • Time to democratize the banking system - CNBC - PayPal CEO Dan Schulman: "Not long ago, I spent a week using only what the banking industry calls "alternative financial services," relying on check-cashing offices and wire-transfer companies to support my daily finances. The results were deeply dispiriting. Accessing my own money became a part-time job, and the price of each transaction meant my checks yielded less than their value and my bills cost more than they should have."
  • First Data I.P.O. Is Likely to Be One of Year’s Largest - New York Times - "Renaissance Capital on Monday estimated that the company could raise $5 billion or more. First Data said it planned to use proceeds from the stock sale to repay some of its roughly $20 billion in long-term debt."
  • Gates Foundation's Kosta Peric on Blockchain Tech and the Unbanked - CoinDesk - “The very powerful thing about bitcoin in general and specially the technologies behind it, is they are essentially leapfrogging all the technology and providing a new system for processing these huge amounts of transactions for very small costs.”

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!

June 25, 2015

Headline News from PaymentsNews.com - June 25, 2015

On the Web:

  • The sale of Visa Europe: a potential setback for merchants in the fight against fees - Treasury Insider - "The news that Visa Inc. is in discussions to purchase its former subsidiary Visa Europe in a possible US$20 billion deal certainly falls into this category – and should be a major concern for European merchants."
  • Suspect in $55 Million A.T.M. Scheme Is Extradited to U.S. - New York Times - "Prosecutors said that hackers including Mr. Findikoglu wormed their way into the computer systems of financial institutions that process prepaid debit cards. Next, they said, the hackers significantly raised the withdrawal limits normally set for the cards, which are often used to pay employees or aid disaster victims."
  • Go New Places with PayPal and Uber - PayPal Forward Blog - "PayPal is now available as a payment option to Uber riders in Canada, Greece, Hong Kong, Israel, Mexico, New Zealand, Singapore, Switzerland and Sweden."
  • HDFC’s PayZapp, India’s First Apple Pay Feature, Enters Mobile Payments - MF Monitor - "Being introduced by the largest private bank, PayZapp, on the back of ApplePay, may emerge as a game changer, as it eliminates the various intervening steps required to pass a mobile transaction, following RBI norms of two-factor authentication."
  • Before paying with bitcoins… - Federal Trade Commission Consumer Information Blog - "In fact, the FTC has received hundreds of complaints involving bitcoins and other virtual currencies. The two most common problems? Online merchants who don’t deliver the product on time — or at all — and merchants who give refunds in store credit, rather than currency."

On the Wires:

  • Organization Announcement: American Express - "With that in mind, today I am announcing the realignment of several businesses and reporting lines in a way that leverages the strengths of our executive team to help us build momentum and capitalize on the growth opportunities we have across the company."
  • FICO Sees 25 Percent Jump in Cross-Border Fraud on UK Debit Cards in 2014 - "Criminals are now opting for card-not-present and cross-border fraud," said Martin Warwick, FICO's fraud chief in Europe, the Middle East and Africa. "The alarming rise in cross-border fraud demands new technology, such as proximity location services that can identify whether the customer's mobile is in the same place where the transaction is occurring. The UK reduced cross-border card fraud from £230 million in 2008 down to £80 million in 2011. But cross-border fraud has nearly doubled since then, and it's time to get it back under control."
  • The Nilson Report: U.S. Household and Credit Card Debt 2014 - "Total household debt in the U.S. was $13.512 trillion at the end of 2014 and credit cards accounted for 6.52% or $881.57 billion, according to the annual report on credit card debt in the U.S. published by The Nilson Report, the top trade newsletter covering the card and mobile payment industries."
  • Auth0 Raises Series A Led By Bessemer to Take the Pain Out of Identity Security - “It’s now painfully obvious that insecure or incomplete authentication implementations are creating vulnerabilities, jeopardizing customer trust, and hindering enterprise adoption of cloud and mobile services,” observed VeriSign co-founder David Cowan, a partner at BVP. “So Bessemer is thrilled to partner with the best identity team in the world to deliver secure login as a service — as easy to use as Twilio, SendGrid and Stripe.”
  • Seamless Distribution AB: SEQR now live in the UK - “Launching SEQR in the US and the UK has been a top priority for us at Seamless. By offering a smart, adaptable mobile payment service, we’ve been able to attract some of the biggest operators in the market. Now that we’re starting to work with merchants and consumers, we’re creating the right conditions to be able to establish ourselves as the biggest mobile payments provider in the UK as well, a market with around 60 million potential customers,” says Peter Fredell, CEO of Seamless.

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 22, 2015

Headline News from PaymentsNews.com - June 22, 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!

May 27, 2015

Headline News from PaymentsNews.com - May 27, 2015

On the Web:

  • 21 Inc. and the Future of Bitcoin - Stratechery (Ben Thompson) - "...I think 21 Inc. is best understood as a massive bridge-building project from today’s speculative curiosity to tomorrow’s essential trust network."
  • Touch ID Now Available on the PayPal App - PayPal Forward Blog - "After a quick setup, simply use your fingerprint to log in to your PayPal app to view your account, send money to friends, or access your digital wallet. You will no longer need to log in with your password."
  • The Bank Of Facebook - TechCrunch - According to Steve Davis, product manager at Facebook: “We’re not trying to make a profit out of payments.”

On the Wires:

  • Credit Cards Continued Their Rebound Against Debit and Prepaid Cards in 2014 - "Purchase volume at merchants for general purpose-type consumer and commercial credit, debit, and prepaid cards issued in the U.S. totaled $4.910 trillion, up 8.4% over 2013. Credit cards increased their market share in purchase volume over debit and prepaid cards to 53.59% in 2014, up from 52.95% in 2013."
  • Square Welcomes Shopventory to Square App Marketplace - "Shopventory helps SMBs manage their inventory better while saving time and money by keeping all inventory SKU counts and associated cost information in one central database that syncs with Square. Shopventory's “Dead Inventory Report” automatically highlights inventory that is not selling. This report alone helps retailers realize what items they should turn into cash or consider no longer carrying."
  • Millennials More Likely to Travel Abroad to Volunteer Than Other Generations, Marriott Rewards Credit Card from Chase Survey Reveals - “Other generations may not assume Millennials would use their most precious assets, their time and money, to give back to international communities they visit, but today’s young travelers are reframing that mindset,” said Vibhat Nair, general manager, Chase Card Services. “We’ve seen in the past that this generation of travelers value rewards and perks from travel services, and now we’re seeing how they could be using those rewards for a larger purpose.”

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 20, 2015

Headline News from PaymentsNews.com - May 20, 2015

On the Web:

On the Wires:

  • NYSE to Launch NYSE Bitcoin Index, NYXBT - “Bitcoin values are quickly becoming a data point that our customers want to follow as they consider transacting, trading or investing with this emerging asset class,” said NYSE Group President Thomas Farley. “As a global index leader and administrator of ICE LIBOR, ICE Futures U.S. Dollar Index and many other notable benchmarks, we are pleased to bring transparency to this market. By combining our technology infrastructure with our expertise in index calculation and data management, we will continue to launch complimentary products based on our rigorous standards and proprietary index methodology.”
  • The BPCE Group and Oberthur Technologies Launch a World-Exclusive Innovation: the First Dynamic Cryptogram Payment Card - "Banque Populaire and Caisse d’Epargne, in association with Natixis Payment Solutions and Oberthur Technologies (OT), a world leader in digital security solutions, announce the pilot of the first payment card integrating Motion CodeTM, OT’s dynamic cryptogram solution. This world-first replaces the three-figure security code on the back of the card with a 'mini-screen' displaying a code that automatically changes periodically."
  • TA Associates Announces Investment in Procare Software - "Procare’s payment processing offering, Tuition Express®, allows for automated collection of tuition, fees and other payments, and is directly integrated into the company’s software suite. Tuition Express helps increase the reliability of billing information, simplify reconciliation and reduce duplicate data entry."
  • Telecom Companies Gain Easy, Digital Way to Collect Cash Payments Through PayNearMe and Telinta Partnership - "Having an easy way to pay for telecom services is a necessity for all consumers," said Danny Shader, PayNearMe's founder and CEO. "This partnership helps friends and families stay in touch across thousands of miles, regardless of whether they choose to pay through plastic or cash. Telecom service providers who use PayNearMe will find that it is a unique competitive advantage over others in the industry who are not yet serving this segment of the population."

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!

March 23, 2015

Headline News from PaymentsNews.com - March 23, 2015

On the Web:

On the Wires:

  • Square Cash is Open for Business - "So we’re excited to announce today that Square Cash is now available for businesses everywhere in the U.S. We deposit payments directly into your bank account (as opposed to a holding account), and offer an aggressive and affordable professional rate of only 1.5%."
  • Western Union and Hyperwallet Forge Strategic Alliance to Address the Global Mass Payments Market - “By integrating our payments ecosystem with Hyperwallet’s platform, we have enabled a mass payment product that will help change how global payments are made today, while helping meet the rigorous compliance demands faced when making global payments.”
  • New Version of RelayAccount Helps Simplify Collection of Patient Payment - “Helping providers clearly track a patient’s financial obligations and enable automated collections on payment plans are becoming two business-critical capabilities in today’s healthcare market,” said Matt Larsen, vice president of Innovation, RelayHealth Financial.
  • Wells Fargo Offers Spanish Language Mobile Banking Experience - "Our convenient and award-winning mobile banking app now offers Spanish-speaking customers the option of tailoring an in-language experience to best suit their needs,” said Brett Pitts, head of Digital for Wells Fargo Virtual Channels. “We’re proud that we continue to make improvements to our digital banking products that allow more customers to take advantage of the convenience and security of mobile banking in their preferred language.”

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!

January 29, 2015

Headline News from PaymentsNews.com - January 29, 2015

On the Web:

  • Can RBC’s digital wallet beat Apple? - Globe and Mail - "The system doesn’t require the bank to share vital and valuable customer data with retailers, phone manufacturers or wireless service providers. RBC considers it to be a world-beating new technology, one that will make the bank a global player in the processing of mobile payments."
  • India Banking: Downwardly mobile - Economist - "The scheme’s initial goal has been surpassed: 120m accounts have been opened. Arun Jaitley, the finance minister, has claimed that almost every household in India now has access to banking."
  • With a Few Bits of Data, Researchers Identify ‘Anonymous’ People - New York Times - "In the study, titled “Unique in the Shopping Mall: On the Reidentifiability of Credit Card Metadata,” a group of data scientists analyzed credit card transactions made by 1.1 million people in 10,000 stores over a three-month period."
  • Now available in the UK: Send and request money right from Gmail - Google Commerce Blog - "Since we announced Send Money in Gmail, paying back your friends has never been so simple, whether you’re chipping in for lunch or reimbursing your housemate for your share of the rent. Today, we're excited to make this feature available for Gmail users in the UK."
  • The debit card fee driving US banks crazy – and costing consumers more than they realize - Guardian - "Here’s the problem, which most of us can relate to: banks love fees. But banks can’t levy a fee that isn’t “reasonable and proportional” to the cost of processing the transaction. That’s the rule under the terms of the Durbin amendment, which is part of the Dodd-Frank package of Wall Street banking reforms."
  • Retailers must embrace in-store pickup - Mobile Commerce Daily (John Pincott) - "Research by PricewaterhouseCoopers and AT Kearney shows that 80 percent of customers research their purchases online, but 75 percent of consumers still prefer to buy products in a physical store."

On the Wires:

  • Visa Europe: Record spend, transaction volume and e-commerce levels as revenues rise in 2014 - "Gross revenues grew 9% year-on-year to €1.9 billion while profits of €344 million were €80m higher than last year. This enables Visa Europe to invest more than €200 million in new payments technologies to accelerate the growth of digital payments."
  • PULSE Introduces New Brand Identity to Support Expanded Payments Solutions - “PULSE and the debit landscape have both changed considerably in recent years, and it was time for our brand identity to reflect those changes,” said PULSE President Dave Schneider. “At the same time, millions of cardholders know to look for the familiar PULSE logo at the point of sale and on ATMs, so our new look builds upon our existing strong brand equity.”
  • BitGo Launches Platform API to Secure and Scale the Next Generation of Bitcoin Businesses - “The BitGo Platform API can help businesses, both large and small, focus their development resources on core competencies and product differentiation while security is managed by the specialists. Now is the opportunity to create a bitcoin ecosystem free from hacks that plagued the industry over the last few years.”
  • VantageScore Solutions Announces Major Strides in Market Adoption - “With this surge in market adoption, the consumer finance industry, including the largest banks in the country, clearly have voted for choice in the marketplace and are taking advantage of the transformative differentiators offered by the VantageScore model,” said Barrett Burns, president and CEO of VantageScore Solutions.

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 23, 2015

Headline News from PaymentsNews.com - January 23, 2015

On the Web:

  • Bitcoin and the Digital-Currency Revolution - Wall St. Journal - "No digital currency will soon dislodge the dollar, but bitcoin is much more than a currency. It is a radically new, decentralized system for managing the way societies exchange value."
  • Winklevoss Twins Aim to Take Bitcoin Mainstream - New York Times - "The exchange, which the twins have financed themselves, is a risky bet, given that the virtual currency industry has been a target of hackers and has faced existential questions about its legitimacy."

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!

December 10, 2014

Headline News from PaymentsNews.com - December 10, 2014

On the Web:

  • EBay Mulls Thousands of Job Cuts Next Year - Wall St. Journal - "The cuts are expected to primarily affect workers in eBay’s core marketplace division, these people said."
  • Chick-Fil-A ramps up mcommerce with mobile payments, ordering - Mobile Commerce Daily - “We think customers will like it because they no longer need to dig through their purse or wallet for cash or a credit card to pay for their meal,” said Michael Lage, manager, customer relationship strategies at Chick-fil-A, College Park, Ga.
  • Fed Sets Tough New Capital Rule for Big Banks - Wall St. Journal - "The proposal, which will be phased in starting in 2016 and take full effect in 2019, is aimed squarely at pushing big banks to shrink, an outcome regulators were explicit in saying they hope to encourage to reduce the likelihood a firm’s failure could require bailouts or damage the broader economy."
  • Amex Veteran Launches White-Label Bitcoin Debit Card Platform - CoinDesk - "Founded in February, Blade Financial is pitching its service to digital currency companies that want to offer debit card services to customers but lack the resources or capabilities to actually launch a product."

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

November 26, 2014

Headline News from PaymentsNews.com - November 26, 2014

Happy Thanksgiving!

  • To our friends and readers in the United States, best wishes for a wonderful Thanksgiving celebration with your family and friends! We'll be back at the news desk on Monday, December 1st.

On the Web:

  • Discover Sues Visa Over Debit-Card Practices - Wall St. Journal - "Discover is challenging a Visa rule that requires financial issuers of Visa signature debit cards to also include Visa’s PIN services instead of allowing other PIN networks like Pulse to compete for that business."

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

November 18, 2014

Headline News from PaymentsNews.com - November 18, 2014

On the Web:

On the Wires:

  • Apple Pay Now Available in All BI-LO, Harveys and Winn-Dixie Grocery Stores - Customers want a shopping experience that is convenient, easy and secure, which is why we’re so pleased to announce support for Apple Pay,” said Bert DuMars, vice president, digital marketing at Bi-Lo Holdings. “Bi-Lo Holdings is prioritizing digital mobile solutions for our customers, and Apple Pay is an exciting first step in our journey.”
  • State Bank of India Enhances Customer Experience with Datacard® Instant Issuance Debit Card Solution - “Today, more than half of India's population is under the age of 25. By 2020, India's average age will be just 29 years – this is a digital demographic: one that expects businesses to provide solutions immediately. At the same time, the mass affluent – no matter what their age have similar expectations. Indian banks need to provide a strong response to these new demands. These branches are a first step in the journey to offering full digital services across the nation.”
  • Intuit Partners with Revel Systems to Deliver iPad Point of Sale Solution within QuickBooks Online Ecosystem - “This is all about giving retailers maximum flexibility to accept payments and manage customer relationships anytime, anywhere, while staying grounded and confident because they can always access an up-to-date and accurate picture of their books,” said Eric Dunn, Intuit’s senior vice president for payments and commerce solutions.

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

November 17, 2014

Headline News from PaymentsNews.com - November 17, 2014

On the Web:

On the Wires:

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

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

October 09, 2014

Headline News from PaymentsNews.com - October 9, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!
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