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Welcome to the News View for "Discover".

Here, on these archive pages, you'll find all of the articles on Payments News for Discover 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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July 28, 2015

Headline News from PaymentsNews.com - July 28, 2015

On the Web:

  • Stripe, Digital Payments Start-Up, Raises New Funding and Partners With Visa - New York Times - "On Tuesday Stripe also announced a partnership with Visa, one of the world’s largest credit card companies, in which the two will work on ways to improve digital transactions. The companies said they expected to collaborate on initiatives like payments security, as well as software like website “buy buttons.”"
  • Lawyer Emails Put Visa, MasterCard Settlement at Risk - Wall St. Journal - "Lawyers representing roughly 100 big merchants, including Wal-Mart Stores Inc., Home Depot Inc., and 7-Eleven Inc., are expected on Tuesday to formally notify the card networks that they will seek to unravel the three-year-old pact..."
  • UK Interchange fee regulation: a consultation - HM Treasury - "This consultation invites views on the government’s proposed steps to meet the UK’s obligation to put in place an adequate and efficient regulatory regime to supervise compliance with the ‘Interchange Fee Regulation’ (IFR)."
  • UK: Rules proposed to tackle ‘unfair’ credit and debit card fees - FT.com - "A government consultation launched on Monday proposes rules to limit so-called interchange fees charged to a business when a customer pays using a card."
  • UK: Cap on card fees could lead to lower prices for consumers - Guardian - "In a consultation document, the Treasury said: “The government is clear that merchants are expected to pass these savings on to consumers in the form of lower prices.”
  • Wells Fargo Joins Other Banks in Testing Mobile Biometrics - "The bank’s mobile development efforts include testing an intelligent assistant, akin to Apple Inc.’s Siri, that enables consumers to conduct their banking by speaking commands into the phone, says Steve Ellis, head of Wells Fargo’s new Innovation Group."
  • The Truth About the Death of Cash - BBC - "Cash is essentially untraceable, it’s easy to carry, it’s widely accepted and it’s reliable. If the power goes out, or there’s a blip in the electronic systems that make the online commerce world go round, cash is there."
  • 8 Banking Giants Embracing Bitcoin and Blockchain Tech - CoinDesk - "While major institutions found that bitcoin was perhaps problematic as a currency, they seem to increasingly believe that the blockchain, the protocol that manages and facilitates the exchange of bitcoin, offers benefits over their closed database systems."

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 16, 2015

Headline News from PaymentsNews.com - June 16, 2015

On the Web:

  • Coming Soon!

On the Wires:

  • First Data Launches Clover® Mini, The Future of Payment Terminals - “Just as the smartphone changed the lives of billions of people around the world, Clover is revolutionizing the way business owners run their companies,” said Guy Chiarello, president of First Data. “With its elegant design, ease of use, and ability to customize the user experience with the growing Clover® App Market, Clover Mini is the comprehensive solution that business owners need.”
  • Bank of America Merchant Services Launches Clover® Mini™ Point-of-Sale System for Small Businesses - “The launch of Clover Mini is a response to our small business clients, who tell us they want streamlined capability and innovation,” said Tim Tynan, CEO, Bank of America Merchant Services. “The built-in layers of security protection also give business owners peace of mind, so they can focus on what matters most, their customers and growing their business.”
  • NFC Forum Publishes New and Updated Technical Specifications - "Available from the NFC Forum website, the specifications deliver new capabilities that support improved RF communication, device identification, greater security in peer-to-peer (P2P) messaging, and new RF Interface extensions for optimized and scalable P2P and memory tag communications."
  • Discover to Close Home Loans Business - "The business is not projected to meet our financial expectations due to ongoing challenges to our home loans operating model, so we made the difficult decision to exit," said Carlos Minetti, president of consumer banking for Discover.

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 01, 2015

Headline News from PaymentsNews.com - June 1, 2015

On the Web:

  • On Ed Gilligan - Medium (Megan Quinn) - "At best, startups are ignored and at worst, distrusted. Ed broke that mold. He was willing to pursue new ideas, take measured risks, run tests and lend some brand credibility and marketing power to fledgling companies doing interesting work."
  • The First Battle In The Mobile Payments War Is Over - TechCrunch (Dana Stalder) - "t’s been a tale of conflict, closed door bargaining, and one with a David vs Goliath subplot and huge fortunes at stake. Many watched and waited as PayPal and Google battled the oligopoly of the Networks (Visa, Mastercard, Amex), only to be surprised by a twist ending."
  • Bitcoin app issues critical update after rare bug leads to total crypto breakdown - Guardian - "Bitcoin wallet application Blockchain has rushed to release an update after a critical bug left multiple users unaware that they were sharing a bitcoin wallet..."

On the Wires:

  • Discover Doubles Cash Rewards for New Discover it® Cardmembers after First Year - "Starting today, Discover is extending an exclusive offer to new Discover it® cardmembers that doubles all of the cash rewards they’ve earned at the end of their first year for accounts that are open at the time of doubling. There are no limits on how much a cardmember can earn, and they can redeem in any amount, any time, and their rewards never expire."
  • Chase Mobile® App for iPhone® Introduces Touch ID™ - “We’re focused on making mobile banking faster and simpler,” said Gavin Michael, Head of Digital for Chase. “Touch ID has been the number one request of our customers – and we are excited to deliver it to them.”

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 28, 2015

Headline News from PaymentsNews.com - May 28, 2015

On the Web:

  • Pay your way with Android - Android Official Blog - "Things are more interesting when we create them together. So we’ve approached Android Pay the same way we approach every other part of the Android family -- partnering with the ecosystem -- bringing together mobile carriers, payment networks, banks and retailers to deliver you choice and flexibility. And offering developers an open platform to collectively push mobile payments forward."
  • A Primer on Android Pay and Google Wallet - New York Times - "Both Android Pay and Apple Pay are perhaps a larger affront to PayPal, which for years has been the leader in digital payments."
  • Google Unveils Apple Pay Rival - Wall St. Journal - "It isn’t clear how Google will get paid for the Android Pay service. An executive and a spokeswoman at the company said Thursday that the goal is to make Android phones more useful. The spokeswoman declined to comment further."
  • Google and Apple Adjust Strategies on Mobile Payments - New York Times - "The battle for mobile software dominance revolves around two companies: Apple and Google. Now both giants are also going head-to-head in mobile payments, as they prepare to push deeper into digital wallets."
  • Target Wants To Offer Apple Pay, But Focus Is On Chip And Pin - TechCrunch - “People in our space are under attack,” said Cornell, explaining that he didn’t want to distract the team rolling out their chip and pin upgrades to all of their stores by adding in additional variables like Apple Pay.
  • Here’s why finance is about to be disrupted - O'Reilly Radar - "Despite huge technological change and a series of financial crises, the league table of the largest financial firms today, both in the U.S. and around the world, remains much the same as it has always been."

On the Wires:

  • Visa Announces New Commercial Standard for Mobile Payments - "Visa Inc. today announced a new program that connects financial institutions and technology companies to simplify and accelerate the roll-out of new payment and commerce services. Visa's new Digital Enablement Program (VDEP) builds on the company's secure token technology and adds a turn-key, toll-free commercial framework accessible to more than 14,500 Visa financial institution clients and leading technology partners around the world. Google, with its Android Pay payment solution, is Visa's first international program partner."
  • MasterCard Powers Android Pay, Bringing Mobile Payments to Android Device Owners - “Mobile payments are here today, and are now an essential part of the core value proposition for new devices,” said Ed McLaughlin, Chief Emerging Payments Officer, MasterCard. “With the MasterCard Digital Enablement Service (MDES) and Android Pay, we can now use secure tokens to easily enable payments from a consumer’s connected device. Today’s news extends consumer choice and drives further ubiquity of payments on devices.”
  • Android Pay is Coming to Discover Cardmembers - “Discover’s goal is to provide our customers the freedom, options and simplicity of making mobile payments with whatever method they choose. Adding Android Pay expands Discover’s ability to enhance the convenience and experience for its mobile users,” said Heather Roche, vice president of rewards at Discover.
  • U.S. Bank Customers Will Soon Be Able to Add Their Cards to Android Pay - “We’re proud to be helping our customers tap into exciting new ways to pay,” said Shailesh Kotwal, vice chairman and head of U.S. Bank Payment Services. “Android Pay gives our customers added value by providing another way to use their U.S. Bank credit and debit cards to pay for purchases with their mobile devices.”
  • USAA Members Among First to Benefit from Android Pay - “We’re committed to delivering simple and secure payment experiences for our members, which is why we are moving so quickly to integrate our cards with Android PayTM,” said Vikram Parekh, assistant vice president of credit card development at USAA. “Android PayTM is opening up the mobile payment experience to Android users.”
  • Silicon Valley Bank and MasterCard Introduce Latest Commerce.Innovated. Class - "We're thrilled to launch the next class of the Commerce.Innovated. program," said Reetika Grewal, Head of Silicon Valley Bank's payments strategy. "There continues to be a tremendous amount of innovation in the commerce sector and we are excited to be working with these amazing, early stage companies. Our unique, operationally-focused program is designed to help these remarkable entrepreneurs grow their businesses quickly and find the resources that they need in order to achieve their next milestone."
  • Visa’s Updated Statement on FIFA - "Our disappointment and concern with FIFA in light of today’s developments is profound."
  • SWIFT opens The KYC Registry to funds distributors and custodians - "Fund distributors and custodians face similar challenges to banks with KYC due diligence,” says Mark Gem, Head of Compliance at Clearstream and Chair of the SWIFT Securities Compliance Working Group. "I am pleased that SWIFT is extending the reach of The KYC Registry, building upon its momentum in correspondent banking."

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 06, 2015

Headline News from PaymentsNews.com - May 6, 2015

On the Web:

On the Wires:

  • Pitney Bowes Expands Cross-Border Ecommerce Capabilities with the Acquisition of Borderfree - “The acquisition of Borderfree not only makes sense for our clients, it accelerates our strategic vision to grow our company through expansion of our digital commerce businesses,” said Marc B. Lautenbach, President and Chief Executive Officer, Pitney Bowes. “The combination of Borderfree’s cross-border ecommerce capabilities with our own solutions expands our portfolio of offerings and extends our global reach."
  • FinCEN Fines Ripple Labs Inc. in First Civil Enforcement Action Against a Virtual Currency Exchanger - "Ripple Labs willfully violated several requirements of the Bank Secrecy Act (BSA) by acting as a money services business (MSB) and selling its virtual currency, known as XRP, without registering with FinCEN, and by failing to implement and maintain an adequate anti-money laundering (AML) program designed to protect its products from use by money launderers or terrorist financiers."
  • Tipalti Expands International ACH Global Payments Coverage - “As our network economy customers continue to expand their international partner and supplier footprint to new markets, we will continue to provide more and more payment options around the world to support our clients’ rapid global growth,” said Chen Amit, founder and CEO of Tipalti.
  • WEX Inc. Introduces FlexCard, the New Revolving Fuel Card for Small Businesses - “Although many businesses are enjoying lower fuel prices today, our research shows that nearly half of businesses’ operating costs are fleet related and about half of that is for fuel,” said Peggy Watson, WEX’s vice president of North America fleet product and marketing. “For 30 years, WEX has helped businesses manage fuel and vehicle services expenses, and this customized solution addresses small businesses’ need for cash flow flexibility.”
  • AcceptEmail, Western Europe’s Leader in Consumer Bill Payments, Opens for Business in New York - "AcceptEmail is the market leader for consumer remittances in Western Europe. IntelligentHQ.com named the company one ofEurope’s 50 Hottest FinTech Companies in 2014 for its smart email and mobile billing solutions. Companies that send AcceptEmails experience up to 50% quicker payments, 70% lower billing and reminder costs, and 20% improved customer satisfaction (net promoter scores)."
  • Seamless Distribution AB: SEQR to Be Launched in the US This Summer - "SEQR has received a warm welcome here in the US, because of its value propositions for both the merchants and consumers. Having seasoned market industry personnel on staff has also been key to actively cultivating our partnerships and together we have developed the services to fit the local market, says Kenneth Douglas SVP Business and Partnership Development for SEQR in the US."
  • Smart Payment Association (SPA) releases total market estimate 2014 figures - "In 2014, over 2050 million chip payment cards were shipped across the world. The figure was reached just three years after global shipments exceeded the one billion mark in 2011."

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 27, 2015

Headline News from PaymentsNews.com - April 27, 2015

On the Web:

  • Payments Innovation Jury Report 2015 - The Payments Innovation Jury Report is a report released every two years, detailing global trends in payments innovation, and future opportunities and challenges for the industry. The report is based on the expertise of a panel of 40 business leaders in the payments sector from 23 countries across six continents. Authored by industry insider John Chaplin, the research is essential reading to FinTech investors, innovators, established payments firms and all others involved in the sector. The research is sponsored by Currency Cloud, a Payments Engine transforming the industry, Ixaris, an innovator in electronic payments, and WorldRemit, an online money transfer service.
  • Apple Pay Coming to Best Buy Stores as Retailer Breaks Ranks From Walmart-Led Rival - Re/code.net - "Best Buy is the first big-name U.S. retailer to break ranks with a Walmart-led Apple Pay competitor, announcing today that it will accept Apple’s digital payment system in its U.S. stores later this year."
  • CurrentC mobile pay to kick off in a single market mid-year - Computerworld - In its email on Monday, Rankin said it is "protocol-agnostic" and works in test mode across QR code, Bluetooth and others. "We are in market today with multiple technologies and not opposed to using NFC in the future," he said.
  • Exclusive: Bitcoin company Circle raising new cash - Fortune - "Circle Financial ... is in the midst of raising around $40 million at a pre-money valuation of approximately $200 million, Fortune has learned from multiple sources."
  • Bitcoin’s Q1: Record VC Investment, Falling Prices, And Slow Consumer Adoption - TechCrunch - "The bitcoin-watching news service CoinDesk recently released its first quarter look into the cryptocurrency’s performance during the opening months of 2015."

On the Wires:

  • Apple Reports Record Second Quarter Results - “We are thrilled by the continued strength of iPhone, Mac and the App Store, which drove our best March quarter results ever,” said Tim Cook, Apple’s CEO. “We’re seeing a higher rate of people switching to iPhone than we’ve experienced in previous cycles, and we’re off to an exciting start to the June quarter with the launch of Apple Watch.”
  • Apple Pay Now Accepted in Best Buy App, Coming to Stores Later This Year - "Starting today, Best Buy customers can use Apple Pay to make purchases in the Best Buy app when using an iPhone 6 or iPhone 6 Plus. A free update is now available in the Apple App Store. All U.S. Best Buy stores will begin accepting Apple Pay later this year."
  • Discover to Bring Apple Pay to Cardmembers - “As the mobile payments landscape matures, Discover remains committed to giving cardmembers secure options for using their cards and mobile devices,” said Diane Offereins, Discover’s president of payment services. “Discover’s focus on simplicity and value for our cardmembers aligns well with the way Apple Pay makes purchases easy and convenient.”
  • Global Payments Launches EMV and Contactless Mobile Payments Solution in Canada - "Global Payments Inc. today announced the launch of the new Ingenico Companion Mobile Payment (iCMP) MPOS – a turnkey mobile point-of-sale solution offering full debit and credit EMV and contactless payment acceptance to Canadian merchants."
  • ACI Worldwide: Nearly 80 Percent of Banks, Retailers and Billing Organizations Know They are at Risk of Customer Attrition… - "Surprisingly, given the recent years of legislation across the world, retailers and billing organizations want to work together to provide a richer consumer experience and to slash costs by cutting out intermediaries. 44 percent of organizations claim they are already taking steps to, or would like to eventually, reduce the number of intermediaries in the payments value chain."

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 17, 2015

Headline News from PaymentsNews.com - April 17, 2015

On the Web:

  • Square’s Jack Dorsey Puts It All Together - BuzzFeed News - "Once a media darling, he hasn’t spoken on the record to the tech press since a New York Times interview in December of last year. It’s not that he’s been hiding, exactly, but he has lowered his profile considerably."
  • PayPal, OFAC, and why regulators play rough - WePay Blog - "When OFAC comes down, they come down hard. In PayPal’s case, that multi-million dollar fine came as the result of less than $50K in transactions over a period of years."
  • Accidental Apple Pay triggers: When iPhone and NFC don't get along - iMore - "But would it be too hard to have a "Dismiss" software button in the top right corner, in case Apple Pay is triggered accidentally? Or keep NFC from working when Airplane mode is enabled?"
  • Could the Chip Card Transition Lead to More Online and Small-Merchant Fraud? - n>genuity - Going forward, the trick will be keeping the checkout process both easy and secure, says George Peabody, a partner at Glenbrook Partners. "The challenge is friction from a checkout point of view. If merchants are looking for security perfection, then they are going to be turning away good sales."
  • PayPal Wants You to Inject Your Username and Eat Your Password - Wall St. Journal Digits - "In an interview with The Wall Street Journal, Mr. Leblanc said that passwords were broken, and that it was time to replace the concepts and methods of username and password verification."

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!

March 12, 2015

Headline News from PaymentsNews.com - March 12, 2015

On the Web:

  • Four Types of Bitcoin Users on Coinbase - Coinable Blog - "We have seen several different types of bitcoin users emerge over the past few years, with many more likely on the horizon."
  • The five stages of bitcoin understanding - Fortune - “We are still a good year away, in our estimation, from seeing the first production-ready instruments where you can imagine a known financial services company using this. But it’s not 10 years."

On the Wires:

  • Apple Pay is Now Available at Jamba Juice Stores - “We are pleased to integrate Apple Pay as an option for consumers seeking an easy and secure service through which to complete their transactions,” said Julie S. Washington, Jamba Chief Marketing and Innovation Officer. “We believe Apple Pay will help improve the speed-of-service for today’s on-the-go consumer.” Jamba is integrating Apple Pay in approximately 650 stores nationwide.
  • Global Payments and Discover Financial Services Announce Streamlined Card Acceptance on the Discover Global Network in Canada - “The launch of our full acquiring program for Discover is the latest example of our commitment to providing Canadian merchants with robust and innovative product and service offerings,” said René Bélanger, President of Global Payments Canada. “This program brings additional value to our merchant customers by enhancing payment acceptance options and providing them a single source for payment processing, settlement, underwriting, risk management, support and reporting.”
  • VISA ReadyLink Users Can Now Add Funds to Their Cards at Walmart - "The integration of Visa ReadyLink with Walmart's Rapid Reload delivers on InComm's vision to expand the swipe reload technology and streamline the customer experience at the register, simplify the sales process for employees and increase retail foot traffic," saidJeff Lewis, Vice President and General Manager, Financial Services, InComm.
  • Calling All Entrepreneurs: Bring Your Big Idea to MasterCard’s Priceless Elevator Pitch - "Representatives from some of the top venture capital firms in the country will serve as judges for the competition. At the end of each day, they’ll award three finalists with a $250 MasterCard prepaid card. On the final day, Jay Singer, senior vice president, North America commercial products at MasterCard, will join the judging panel and one of the nine finalists will be named the winner of the $15,000 grand prize."
  • Intuit and Bigcommerce Partner to Simplify Financial Business Operations for Online Retailers - “Both Intuit and Bigcommerce develop technology that makes our clients’ lives easier, and this partnership will help Bigcommerce merchants simplify accounting with the help of QuickBooks Online,” said Avi Golan, vice president and general manager of the Intuit Developer Group. “Merchants taking advantage of this integration will save time once spent on accounting, and will be able to keep their focus on running their business.”
  • Intuit Partners with Shopify to Automate Bookkeeping for Online Retailers - “Delivering a seamless integration between QuickBooks Online and Shopify makes it easy for businesses to automatically reconcile sales data,” said Avi Golan, vice president and general manager of the Intuit Developer Group. “This is the latest example of how we’ve turned QuickBooks Online into the world’s leading small business cloud platform, delivering an ecosystem of integrated tools and services."
  • Fifth Third Bank Adopts Dave Ramsey's New SmartDollar Financial Wellness Program - Sheri Kehren, vice president and program manager of financial workplace wellness at Fifth Third Bank, said, "We continue to see employers augment their retirement education efforts and overall corporate wellness programs with a component of financial education. We were very excited when the Bank announced that the new SmartDollar program would be part of their improved Total Rewards program for 2015.”

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 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!

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 19, 2014

Headline News from PaymentsNews.com - November 19, 2014

On the Web:

  • Most People Are Only Thinking About Compliance - Bitcoin Foundation Blog (Jim Harper) - "Without prevention of real-world harms to target, banks will manage a different risk, which is the risk of regulatory action. The incentives to “de-risk” entire business lines, including digital currency, will remain strong. Risk aversion in financial services was the top threat to Bitcoin’s success identified in the study we released earlier this year."
  • United Airlines deploys iPads for airport purchases funded by miles - Mobile Commerce Daily - "In total, nearly 6,000 iPads will be stationed around the New Jersey airport’s Terminal C in a bid to elevate the airport experience with sophisticated technology, dining and design."

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!

October 17, 2014

Headline News from PaymentsNews.com - October 17, 2014

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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 28, 2014

Headline News from PaymentsNews.com - August 28, 2014

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On the Wires:

Updates from Glenbrook:

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

July 24, 2014

Headline News from PaymentsNews.com - July 24, 2014

On the Web:

On the Wires:

  • LoopPay Secures Investment from Visa Inc. - “Visa continually evaluates and invests in new technologies that have the potential to transform mobile devices into secure payment vehicles,” said Jim McCarthy, senior vice president of innovation and strategic partnerships, Visa Inc. “LoopPay has developed compelling technology that has the potential to enable merchants to accept payments from mobile devices using their existing point-of-sale infrastructure.”
  • Citi® Commercial Cards Joins With Concur® to Offer a New, Enhanced Reporting Solution - We’re excited to partner with Concur, a recognized leader in the industry, to provide these reporting packages to our clients. These enhanced travel reports will not only provide efficiencies for our customers by automating current manual processes, but also enable clients to make key travel program decisions more quickly and with more confidence,” noted Manish Kohli, Citi’s Global Head of Commercial Cards.
  • Discover® Fuels Summer Fun with Cashback Bonus® at Gas Stations - “Discover cardmembers who are commuting or traveling can earn up to $75 Cashback Bonus for the many miles they drive during the summer months,” said Heather L. Roche, vice president of rewards at Discover.

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 22, 2014

Headline News from PaymentsNews.com - July 22, 2014

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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, 2014

Headline News from PaymentsNews.com - May 14, 2014

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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, 2014

Headline News from PaymentsNews.com - April 15, 2014

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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 02, 2014

Headline News from PaymentsNews.com - April 2, 2014

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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 01, 2014

Headline News from PaymentsNews.com - April 1, 2014

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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 25, 2014

Headline News from PaymentsNews.com - March 25, 2014

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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 21, 2014

Headline News from PaymentsNews.com - March 21, 2014

On the Web:

On the Wires:

  • Visa and PULSE Agree on EMV Common Debit Solution - "Visa Inc. and PULSE, a Discover Financial Services company, announced an agreement to enable financial institutions that issue EMV debit cards on both the Visa and PULSE networks to use Visa’s common debit solution."

Updates from Glenbrook:

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

February 18, 2014

Headline News from PaymentsNews.com - February 18, 2014

The second edition of our book "Payments Systems in the U.S." has just been published. It's available in print from Amazon.com and in an ebook version for your iPad.

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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 12, 2014

Headline News from PaymentsNews.com - February 12, 2014

The second edition of our book "Payments Systems in the U.S." has just been published. It's available in print from Amazon.com and in an ebook version for your iPad.

On the Web:

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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 06, 2014

Headline News from PaymentsNews.com - February 6, 2014

The second edition of our book "Payments Systems in the U.S." has just been published. It's available in print from Amazon.com and in an ebook version for your iPad.

On the Web:

On the Wires:

Updates from Glenbrook:

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

January 24, 2014

Discover Reports 4Q2013 Financial Results

Discover logo 140pxDiscover Financial Services yesterday reported financial results for the fourth quarter of 2013. Discover card sales volume increased 3% year over year while credit card loans resulting from card usage grew 4%. Net charge-off rate for credit card loans increased 4 basis points from the prior quarter to 2.09% and delinquencies over 30 days past due increased 5 basis points from the prior quarter to 1.72%.

The fourth quarter concluded a strong year for Discover, with record net income for 2013," said David Nelms, chairman and CEO of Discover. "Last year, we grew our card receivables faster than the industry and further established ourselves as a leading direct bank and payments company through expanded product offerings and new payments partnerships."

In Discover's Payment Services segment, revenue declined due to lower transaction processing revenue at its PULSE debit card unit.

January 15, 2014

Headline News from PaymentsNews.com - January 15, 2014

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

On the Web:

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Updates from Glenbrook:

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

December 18, 2013

Headline News from PaymentsNews.com - December 18, 2013

Webinar: Managing Cardholder Data Security Risks in an Evolving Payments Landscape - Be sure to join Glenbrook's Bryan Derman, BakerHoestetler's Craig Hoffman and Mandiant's Marshall Heilman for this webinar on January 15 from 2-3:30 PM Eastern time. Registration is now open.

On the Web:

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Updates from Glenbrook:

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

December 17, 2013

Headline News from PaymentsNews.com - December 17, 2013

In addition to tracking the daily news of the payments world here on PaymentsNews.com, we can also provide you and your organization with monthly and quarterly market scans - contact me to learn more about this unique service customized to your special needs.

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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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