ON THE WEB
- ‘In the Eye of a Tornado’: Views on Innovation from China - A16Z Podcast - "No matter how one views Xiaomi — and there are many ways to view it, for better or worse — one thing is clear: It, and other such companies (like WeChat and Alibaba), indicate a broader trend around innovation coming from China."
- Africa’s big banks are betting on fintech startups and bitcoin to beat disruption - Quartz - "You have a headwind from Silicon Valley and Europe blowing into Africa now around the disruption in fintech. The banks are really nervous and they want to get ahead of this..."
- Maybe It’s Time to Look at New Credit Card Offers - New York Times - "Americans tend to be loyal to their credit cards, even as better offers emerge, a new report finds."
- Microsoft runs pilot on linking Skype and Aadhaar - ET Tech - "Technology giant Microsoft today said it has been working on a pilot to link Skype with the Aadhaar database to explore if the identification service can be used on video calls..."
- Feature Friday: Paying With Your Phone - AVC.com (Fred Wilson) - "Which leads me to a feature request for Foursquare. They should start collecting information on their venues’ payment systems. Collecting information on Apple Pay and Android Pay support would be a great start."
- Dwolla is Back, But Focused on Blockchain, Not Bitcoin - CoinDesk - "Ben Milne, Dwolla's founder and CEO, says the company is working closely with startups building solutions for tracking assets on the blockchain."
- Study: How quickly are retailers implementing EMV? - Chain Store Age - "TSG found that the three biggest hurdles slowing EMV implementation are payment processor readiness, gateway readiness, and technical staff resource availability."
ON THE WIRES
- MasterCard Activates Real-Time Intelligence to More Accurately Predict Fraud - “While the industry has relentlessly worked to reduce fraud, some of these efforts have resulted in an increase in transactions being needlessly declined,” said Ajay Bhalla, president of Enterprise Security Solutions, MasterCard. “Nobody likes being falsely accused of something. Our IQ products leverage technology and insights to deliver merchants and consumers a convenient, uninterrupted checkout experience.”
- CFPB Finalizes Policy to Facilitate Consumer-Friendly Innovation - "The new policy establishes a process for companies to apply for a statement from Bureau staff that would reduce regulatory uncertainty for a new product or service that offers the potential for significant consumer-friendly innovation."
- Global Payments Announces Support for Apple Pay in China - “Global Payments is pleased to offer merchants the ability to accept Apple Pay in the important China market,” said Frank T. Young, SVP, Global Product and Innovation. “Our continued commitment to leading payments technology across the globe allows us to be at the forefront in delivering this innovative payments solution to merchants in the markets that we serve.”
- LendingPoint Partners with Cornerstone Community Credit Union to Support Growing Demand from Fair Credit Members - "Part of LendingPoint’s growth strategy is in supporting financial institutions like credit unions with products that benefit from its proprietary scoring model, next-generation technology, quick loan approval process, and focused customer experience."
- Citi Announces Intention to Sell Consumer Businesses in Brazil, Argentina and Colombia - Citi CEO Michael Corbat said, "While our Consumer businesses in Brazil, Argentina and Colombia are of high quality, we have decided to focus our efforts on opportunities with our institutional clients in these countries and throughout the wider region."
GLENBROOK PAYMENTS EDUCATION EVENTS
Here's a quick reminder that we have two of our Glenbrook payments education events coming up later this month - both in Palo Alto, California - 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.
- Glenbrook’s Carol Coye Benson will be at the Mobile World Congress in Barcelona February 22-25. Let her know if you will be there!
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!