On the Web
- Why Apple Pay’s Slow Start Doesn’t Mean It’s a Failure - MIT Technology Review - "Former Google Wallet chief Osama Bedier, now CEO of checkout terminal startup Poynt, says a third of locations are likely to have NFC capability by the end of next year. He thinks that’s the tipping point after which consumers will start to demand that nearly all the stores they frequent take mobile wallets."
- Sue the Bank? You May Get Your Shot - Wall St. Journal - "The Consumer Financial Protection Bureau is moving toward new rules giving borrowers more rights to sue banks and credit-card companies..."
- Chinese Hackers Breached LoopPay, a Contributor to Samsung Pay - New York Times - "LoopPay executives said the Codoso hackers appeared to have been after the company’s technology, known as magnetic secure transmission, or MST, which is a key part of the Samsung Pay mobile payment wallet that made its public debut in the United States last week."
On the Wires
- Non-Cash Payments Grow Faster Than GDP Across All Regions Finds World Payments Report 2015 - "For more than a decade, the World Payments Report by Capgemini and the Royal Bank of Scotland has been the source of fundamental data, trends and commentary on global and regional non-cash payments, and the key regulatory and industry initiatives that govern them. This year’s report explores the impacts of an increasingly demanding regulatory landscape and the additional requirements to deliver incremental customer value through innovation and features insights derived from an online survey and executive interviews conducted in May 2015. "
- MasterCard and P97 Drive Mobile Payments Innovation at Gas Stations and Convenience Stores - "The MasterCard fuel solution will leverage a wide range of MasterCard’s marketing and technical assets, and will utilize P97’s PetroZone® mobile commerce platform to integrate to existing gas station infrastructure. The new solution will enable fuel companies to develop innovative mobile apps for consumers to search for and navigate to the nearest or preferred gas station, make fast and simple mobile payments at the pump and convenience store, and receive personalized offers for in-store purchases."
- New Credit Card Lets Travelers Earn Free Nights at Independent Hotels Even When Staying at Chains - “Until now, carrying a hotel loyalty credit card meant you were committing to a single hotel brand,” said Tom Quindlen, executive vice president and CEO of Retail Card, Synchrony Financial. “The Stash Visa Card changes all that. Now you can stay at any hotel and earn double Stash points.”
- Hoover Institution: "Making Failure Feasible" Proposes Bold New Monetary Reforms - "The Hoover Institution Press today released Making Failure Feasible, which challenges current US banking policy and proposes bold monetary reforms, including adding a new Chapter 14 to the U.S. Bankruptcy Code. The ideas presented are the result of the Hoover Institution’s Resolution Project composed of a group of distinguished economists and scholars, including George Shultz, John Taylor, Thomas Jackson, and Kenneth Scott."
- Paragon Application Systems’ Web FASTest™ Qualified for Discover® D-PAS - "Acquirers certifying for their chip transaction processing with Discover can now choose Web FASTest for acquirer-terminal end-to-end host simulation response for both contact and contactless D-PAS cards. Web FASTest simulates network processing so Acquirers/Merchants can validate compliance of their Terminals for D-PAS."
Glenbrook's 2015 Payments Education
- Our next Payments Boot Camp session is scheduled for October 13-14 in Palo Alto, California followed by a one-day Insight Workshop on October 15 on the topic of Global Payments.
- If you have questions about our payments education program, please contact Russ Jones for more information.
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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!