ON THE WEB
- Your American Express Costco card is history--Visa moves in Monday - Minneapolis Star-Tribune - "After 16 years, American Express and Costco are divorcing. Amex moved out June 19 and the old card held dear by some Costco members is now "dead to us.""
- How Wells Fargo is Reaching the Digital Customer - Knowledge@Wharton - "We enjoy probably the highest trust of the large banks but nowhere near the trust levels of a Google or an Amazon or some of the other institutions that really set that bar."
- Not in front of the customers: Wal-Mart and Visa will both lose loyalty - Globe and Mail - "As with bickering parents, both Visa and Wal-Mart are trying to woo customers to remain loyal and take a stand against the other company by airing their grievances in public. But this tactic could backfire on both companies..."
- What Blockchain Is and What It Can Do - Wall St. Journal - "Kimberly Johnson, the editor of CFO Journal at The Wall Street Journal, sat down with Blythe Masters, chief executive of Digital Asset Holdings, to discuss this technology and what it can do."
- Bank of America starts rolling out support for Apple Pay-powered withdrawals - iMore.com - "The bank has been rolling out NFC-capable machines in select cities for a little while, and now the NFC readers on some of those machines are being switched on."
- London 'will be completely cashless within 20 years' - Evening Standard - "Nearly three quarters of Londoners surveyed believed virtual money would replace notes and coins by 2036."
ON THE WIRES
- New Costco Anywhere Visa Card by Citi Offers Cash Back Rewards on Every Purchase - “We have a strong relationship with our members and it’s important that we’re rewarding their loyalty to us,” said Craig Jelinek, CEO and President, Costco. “Our new co-brand credit card agreement with Citi on the Visa network enables us to offer significant value and benefits for our members across 494 locations in the U.S. and Puerto Rico.”
- That familiar ring? It’s your mobile phone, not your wedding band - "“We saw consumers really step up their use of digital banking tools – especially mobile apps – in the last year,” said Donna Vieira, Chief Marketing Officer of Consumer Banking at Chase. “We continue to enhance our digital banking services to let customers bank how, when and where they want.”"
- Elavon Supports Payments Innovation with Apple Pay Expansion in Canada - "Elavon is among the first payment processing companies to offer Apple Pay to Canadian businesses, and provides support for in-person payments, as well as in-app purchases for Interac®, Visa®, MasterCard® and American Express®."
- Dragonfly Fintech Selected to Implement Payment Solution - "It is about transforming the money remittance space and repositioning the service as a platform business allowing near frictionless participation," said Lon Wong, CEO, Dragonfly Fintech.
- Blockchain Technology: Disruptive Forces in Financial Services, According to IDC - James Wester, research director at IDC Financial Insights and author of the report, said, "Blockchain has emerged during a time of incredible change in the payment space. Even though banks and technology vendors are grappling with many issues right now, they should pay particular attention to blockchain. It represents a complete shift in the way electronic transactions have been handled for decades, and participants in the market should begin thinking about how they will adapt to it."
GLENBROOK PAYMENTS EDUCATION EVENTS
Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!
- Payments Boot Camp - Palo Alto - October 11-12
- Insight Workshop - Palo Alto - Data in Payments - October 13
Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.
UPDATES FROM GLENBROOK
- We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Click here to learn more!
- Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews
Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: firstname.lastname@example.org!