Payments News from Glenbrook Partners
Glenbrook   Book   Education   Views   Archives   Store   Advertise   About         SUBSCRIBE:

Financial Regulators

Welcome to the News View for "Financial Regulators".

Here, on these archive pages, you'll find all of the articles on Payments News for Financial Regulators 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.

Subscribe to Payments News!

April 29, 2016

Headline News from PaymentsNews.com - April 29, 2016

ON THE WEB

ON THE WIRES

  • Carrier Billing Comes to Spotify in New European Markets - “Our partnerships with carriers connecting to Spotify in the UK have been a phenomenal success both in terms of revenue and new subscriber acquisition. So much so that, in the UK, the default payment method for new Spotify users has changed from credit card to carrier billing,” said Jon Prideaux, CEO of Boku.
  • Cardlytics Powers Purchase-Based Targeting with New Syndicated Audiences - "Cardlytics Audiences draw on purchase insights from more than $1.5T in actual consumer spend. This purchase history includes transactions across credit, debit, ACH and bill pay – breadth that is unmatched in the industry."

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 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!

March 31, 2016

Headline News from PaymentsNews.com - March 31, 2016

ON THE WEB

  • Inside the $5 Billion Company That Will Launch Your Business - Inc. (Maria Aspan) - "Since 2010, Collison and his older brother, Stripe co-founder and CEO Patrick Collison, have spent almost every waking moment making it as fast and easy as possible to handle other people's money online."
  • What Starbucks Can Teach Apple and Facebook - Bloomberg Gadfly - "Getting one out of every five orders through its smartphone app is an impressive feat for Starbucks, considering mobile payments accounted for just 2.1 percent of U.S. retail sales last year..."
  • Introducing Braintree Auth - Braintree Blog - "Braintree Auth enables Braintree merchants to more easily integrate with Braintree partners by authorizing them to perform services on their behalf such as -- allowing for actions such as enabling payments on an e-commerce store or accessing transaction data for an analytics or accounting service."
  • Google Wallet is shutting down its debit card - Quartz (Ian Kar) - "Amid a companywide effort to cull money-losing operations, Google is shutting down its Google Wallet debit card, the company confirmed in a blog post today."
  • Immediate Funds Availability Resonates With Many Small Businesses - "Financial institutions that provide immediate funds availability stand to benefit in several key ways, including improved share of wallet and differentiation for small business customers."
  • Marijuana Companies Stuck Doing Business the Old-Fashioned Way, in Cash - Wall St. Journal - "Two years after Colorado fully legalized the sale of marijuana, most banks here still don’t offer services to the businesses involved."

ON THE WIRES

  • Walmart’s Family of Cards Makes it as Easy as 3-2-1 to Manage Finances for Less - “The Walmart MoneyCard and Walmart Credit Card have proven to be valuable tools in our customers’ wallets, helping them manage their money for less. The new 3-2-1 Save program simplifies and strengthens the card proposition for more than 10 million cardholders and helps add even more value to their Walmart purchases no matter how they choose to shop with us.”
  • More Than 100 Amazon Dash Buttons Now Available, Giving Prime Members the Easiest Way to Order Thousands of Products - "Members can now choose from over 100 Dash Buttons representing top-name brands across dozens of retail categories and thousands of products. With Dash Buttons, Prime members never have to worry about running out of everyday household essentials from coffee to condoms, and snacks to soda. When a customer sees supplies running low, they simply press a Dash Button to order."
  • American Express Launches Two New Co-Branded Cards with Charles Schwab - "Designed to meet the different needs of a diverse customer base, the cards include a credit card and a premium charge card, both with exceptional rewards, benefits and services, including unlimited cash-back features."
  • Bank of America Makes Online Payments Seamless With Visa Checkout - "Bank of America announced today that it will pre-select customers’ eligible Visa cards for enrollment in Visa Checkout directly from Online Banking. Bank of America is one of the first banks to integrate its cards into Visa Checkout and provide seamless enrollment directly from its site, eliminating added steps and making it easier than ever for customers to shop online, on any device."
  • CARE Makes Donating More Convenient with Popmoney - "Accepting donations via Popmoney will allow us to connect with more potential donors through the giving channels they prefer," said Tolli Love, vice president of fundraising and marketing, CARE USA. "We will also be able to reduce the costs associated with processing donations, which means more money will go to fight the impact of poverty around the world."
  • U.S. Bank Offers Customers Touch ID for More Convenient Mobile Banking - “We have been looking at ways to use biometrics such as voice and fingerprint to authenticate identification for several years,” said Gareth Gaston, executive vice president and head of omnichannel banking at U.S. Bank.
  • Microsoft outlines intelligence vision and announces new innovations for Windows 10 - "Wednesday, Microsoft announced new additions to the Cortana Intelligence Suite, both in preview. The first, Microsoft Cognitive Services, is a collection of intelligence APIs that allows systems to see, hear, speak, understand and interpret our needs using natural methods of communication. The second, the Microsoft Bot Framework, can be used by developers — programming in any language — to build intelligent bots that enable customers to chat using natural language..."
  • GE Capital Files Request for Rescission of Status as a Systemically Important Financial Institution - "The filing demonstrates that GE Capital has substantially reduced its risk profile and is significantly less interconnected to the financial system, and therefore does not pose any conceivable threat to U.S. financial stability."

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 24, 2016

Headline News from PaymentsNews.com - March 24, 2016

ON THE WEB

ON THE WIRES

  • First Data and First Tennessee Bank Form Strategic Relationship to Support Small Businesses - "Under the new enterprise agreement, First Tennessee will provide its small business clients with First Data’s innovative products, including the Clover® family of business management solutions. First Tennessee will also join First Data’s STAR® Network and have access to an array of cutting-edge fraud protection tools."
  • Federal Reserve Board begins 2016 Survey of Consumer Finances - "This survey is one of the nation's primary sources of information on the financial condition of different types of households," Federal Reserve Board Chair Janet Yellen said in a letter to prospective survey participants. "Our previous surveys…have helped the Federal Reserve and other parts of the government make policy decisions and have also supported a wide variety of basic research, public discussion, and education."
  • U.S. Bank Introduces Mobile Check Deposit App for Small Businesses - “Using Deposit Express, customers can streamline their check deposit process, eliminating delays associated with trips to the branch or their office,” said Sam Robb, head of receivables solutions for treasury management at U.S. Bank. “Deposit Express is specifically tailored to meet the needs of small businesses. It offers robust reporting and research capabilities, as well as integration of mobile and web deposit channels.”
  • MBNA Gets Ready For Android Pay - "UK contactless spend increased steeply in 2015, more than trebling to reach £7.75 billion. With nearly one in eight card transactions now using contactless technology*, Android Pay will be the latest option for tech-savvy consumers who are forgoing not only cash but cards in favour of mobile wallet payment methods."
  • National Gift Card Draws on Tech Advances to Offer Rewards in Real Time - "With 9 out of 10 U.S. adults owning a cell phone and global cell phone use projected to top 5 billion by 2019, National Gift Card Corp. is leveraging this trend with its smart mobile gift card solution that works for virtually any small or large businesses through its proprietary Application Programming Interface (API)."

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 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 21, 2016

Headline News from PaymentsNews.com - March 21, 2016

ON THE WEB

  • PayPal Brings Money Transfers to Cuba - Fortune - "PayPal CEO Dan Schulman, who is visiting Cuba this week along with President Obama, U.S. Secretary of Commerce Penny Pritzker, and many other CEOs, said that PayPal would start allowing money transfers to and from Cuba later this year."
  • Powa: The start-up that fell to earth - BBC - "Its demise has raised questions about the health of London's much vaunted fintech (financial technology) sector, and about the wisdom of sky-high valuations for unproven businesses."

ON THE WIRES

  • Wells Fargo Introduces Go FarTM Rewards - "Through the program, customers can redeem their rewards at any Wells Fargo ATM, use rewards toward their qualifying Wells Fargo checking or savings account or apply toward the principal balance of a qualifying Wells Fargo line or loan. Customers can also take advantage of options to pool rewards with other customers, gift rewards to other customers or to charity, create wish lists and more – all while on-the-go."
  • Federal Agencies Release Guidance to Issuing Banks on Applying Customer Identification Program Requirements to Holders of Prepaid Cards - "The guidance clarifies that a bank's CIP should apply to the holders of certain prepaid cards issued by the institution as well as holders of such prepaid cards purchased under arrangements with third-party program managers that sell, distribute, promote, or market the prepaid cards on the bank's behalf."
  • Stripe to allow Cuban nationals to set up a U.S. business entity, bank account, and more - “Today's announcement and our work with President Obama here in Havana are about facilitating a smooth path for Cuban entrepreneurs into the modern global economy," said Patrick Collison, CEO of Stripe. "The promise of the internet is that geography should be largely irrelevant. But that is not yet true. Especially here in Cuba, people simply do not have access to the high-quality banking or payments infrastructure they need to join the internet economy."
  • Ripple Continues Global Growth With New London Office to Serve European Bank Demand - "With the opening of the London office, Managing Director Daniel Aranda is relocating from Ripple’s San Francisco headquarters to lead the company’s European presence. Aranda was among Ripple’s first employees and has served as a key member of the company’s business development team since 2013, helping shape the overall company strategy and build the customer pipeline."
  • Western Union Expands in Cuba: Connects the World - “As the first U.S. Company with scale to move money from across the world to Cuba, we welcome the regulatory and policy changes put in place by the U.S. government that allow us to offer these services,” said Odilon Almeida, President of the Americas and European Union.

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 09, 2016

Headline News from PaymentsNews.com - March 9, 2016

ON THE WEB

ON THE WIRES

  • TSYS Appoints Pamela Joseph President and COO - “I have known and done business with TSYS for more than twenty years and am thrilled to be joining the team. TSYS clearly has best in class technology platforms and a blue chip customer roster. I look forward to driving additional client and partner benefits through product innovation and service enhancements,” commented Joseph.
  • Early Warning Launches Real-Time P2P Payments with Bank of America, U.S. Bank - “Bank of America is committed to being a leader in payments and making it easier than ever for our clients to manage their finances,” said Thong Nguyen, president of retail banking at Bank of America. “We’re focused on creating a simple, straightforward person-to-person payments experience that lets our customers pay anyone with a couple of easy, intuitive steps.”
  • UnionPay International Accelerates Mobile QuickPass Expansion Overseas--180,000 POS terminals ready - "Nearly 180,000 POS terminals in Hong Kong, Macao, Taiwan, South Korea, Australia, New Zealand, Singapore accept UnionPay chip cards with "QuickPass" signage and various mobile QuickPass-enabled products. The overseas transaction volume of UnionPay QuickPass grew 8 times in 2015, and is growing rapidly this year."
  • Leading UK Online Retailer Shop Direct Uses FICO Technology to Help Prevent Fraud - "As the UK's second-largest pure-play online retailer, we're protecting not only our revenues and our customers but also our brands," said Neil Chandler, Shop Direct's CEO for Financial Services. "We have a very successful partnership with FICO for fraud protection, customer management and decision optimization. FICO analytics and tools are exactly what we need to protect our customers."
  • Chargebacks911: New Technologies Fuelling Rise In Customer Chargebacks - “The pressure on banks to resolve disputes faster is causing an imbalance in an industry that is almost always favourable to the consumer. 50% of cardholders who file a dispute will do it again within 90 days. This essentially means that issuers and cardholders are being rewarded for initiating illegitimate chargebacks, with processors ultimately penalised along with their merchants.”
  • FTC Action Leads to Court Orders Against Scheme That Charged Millions of Dollars to Consumers' Bank and Credit Card Accounts Without Their Consent - “These defendants bought sensitive personal information from data brokers and used it to steal people’s money,” said Jessica Rich, Director of the FTC’s Bureau of Consumer Protection. “Misusing sensitive data causes real harm to consumers, and I’m pleased that the court banned the defendants from this conduct.”

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 07, 2016

Headline News from PaymentsNews.com - March 7, 2016

ON THE WEB

  • Panic at the Checkout: Will EMV Friction Boost Mobile Payments? - FICO - "Here’s my theory: Mobile payments are predicted to triple in the US in 2016, but the huge growth won’t be due to anything like payments systems being embedded on new mobile phones, upgraded point of sale systems or loyalty programs. People will rush to mobile payments because they’re uncomfortable with using their new EMV cards."
  • Card Chargebacks: Sorting Out the Facts - Take on Payments Blog - "As previous posts have noted, the Federal Reserve is making a concerted effort to collect fraud data for non-cash payment channels to develop a holistic view and understanding of fraud trends."
  • The broken world of mobile payments and how to fix it - TechCrunch - "Why aren’t more people enjoying the convenience and ease of mobile payments?"
  • Swipely Rebrands as Upserve, Launches Mobile App and New Tools for Restaurants - Street Fight - "The company announced this morning that it is changing its name to Upserve, and is expanding its suite of products aimed at helping restaurateurs optimize their sales and service, and manage their business on the fly."
  • What Happened At The Satoshi Roundtable - Brian Armstrong - "My general view (which I articulated at the roundtable last weekend) is that bitcoin will be far more successful with a multi-party system working on protocol development than a single team with the limitations I mentioned above."

ON THE WIRES

  • BBVA acquires Finnish banking startup Holvi - "Holvi, which was founded in 2011, and describes its offering as ‘Banking for Makers and Doers’, provides entrepreneurs, small and medium-sized businesses with a range of business services as well as traditional banking through its online platform."
  • Digital Insight is First Solutions Provider to Introduce Android™ Fingerprint Authentication for Mobile Banking - “Biometrics offer a compelling feature for mobile banking applications, driving benefits for the end user as well as the financial institution,” said Dan Weis, senior product manager for Mobile Banking, Digital Insight. “We believe that consumers will want varying types of biometrics based on factors such as personal preference, their finger dexterity, their device preference, and even how they are dressed."
  • Kasasa Enhances Consumer Rewards Accounts with New Credit Card Option - "Through CCAAQ, Kasasa institutions now have the opportunity to increase interchange revenue, credit card loan balances and product penetration per consumer while providing accountholders with a product unique to their marketplace."

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!

March 02, 2016

Headline News from PaymentsNews.com - March 2, 2016

ON THE WEB

ON THE WIRES

  • Sallie Krawcheck Joins Digital Asset Board of Directors - “We are honored to have Sallie join our Board,” said Blythe Masters, CEO of Digital Asset. “She has achieved extraordinary success in her career as both an industry executive and entrepreneur, and her unique mix of experience will be a tremendous asset as we build and expand our business.”
  • Samsung Pay Now Available for Wells Fargo Customers - “We are thrilled today to participate in Samsung Pay, and to continue to provide Wells Fargo customers with convenient mobile payment options,” said Jim Smith, head of Virtual Channels for Wells Fargo. “We want to satisfy our customers’ financial needs when, where and how they want, and allowing them to pay from a mobile wallet with features like Samsung Pay helps us fulfill that promise.”
  • Global Payments and Realex Payments to Host a FinAppsParty Simultaneously in Atlanta and London - "As part of our ongoing commitment to support the innovators in the fintech community, Global Payments and Realex Payments are thrilled to host the FinAppsParty in Atlanta and London,” said Frank T. Young, SVP, Global Product and Innovation. “We look forwarding to seeing the creative ideas that stem from the energy of this exciting event.”
  • Wirecard Launches New Prepaid Visa Card mycard2go - "it is the first Visa Simply One combined card, bringing together the functionality of a traditional credit card with that of a V PAY debit card. The solution combines high-level security in the form of PIN entry with global acceptance. In this way, users of the mycard2go prepaid card can make cashless payments at over 24 million Visa acceptance points."

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 01, 2016

Headline News from PaymentsNews.com - March 1, 2016

ON THE WEB

  • Reflections: Back to the Future - PaymentsViews.com (Scott Loftesness) - "Today, Glenbrook celebrates its 15th birthday. It’s been quite a journey – an amazing one in so many ways – yet it also sometimes feels like we’re still on Day One! There’s so much happening in payments – and, more broadly, in commerce, financial inclusion, and crypto currencies!"
  • How the Shift from Swiping to Inserting Cards Will Accelerate Mobile Payments - AdvertisingAge - "I tested out my theory with a local clerk at my favorite retailer who confirmed he is seeing an uptick in mobile payments because it is easier than waiting for the insert process."
  • Experian: E-commerce Attack Rates - 2015 E-commerce Attack Rates by State - "Experian analyzed e-commerce fraud attack rates for all of 2015. The map charts e-commerce attack rates (by basis points) for the United States by both shipping and billing locations."
  • BAML prepping blockchain-powered trade finance test - Financial News - “A lot of the benefits of blockchain are still being conceived. As we move into live prototyping, we will aim to prove out the business case."
  • A Better Way to Control the Banks - New York Times - "Even so, the capital requirements are not strong enough, in part because they do not require banks to fully account for potential losses from the trading of derivatives, a multitrillion-dollar activity."

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!

February 26, 2016

Headline News from PaymentsNews.com - February 26, 2016

ON THE WEB

  • Venmo Kills Off Developer API With Zero Warning - TechCrunch - "After six years of providing an API for developers to build experiences atop its money transfer system, this month Venmo suddenly shut down the API. "
  • Travel in London for Free With Apple Pay - PC Magazine - "As part of a promotion from MasterCard and Apple, each Monday beginning on Feb. 29, from 4:30 a.m. until 1 a.m. the next morning, MasterCard-linked Apple Pay users will have their purchases on buses, trams, the Underground, and most other rail services refunded up to 28.10 pounds ($39)."
  • How Mobile Payments Reshape Lifestyles - Wall St. Journal - "Piao Jianfeng says he seldom carries his wallet and hasn’t used an ATM to withdraw cash for two years. Instead, his phone is his wallet, and he uses it to pay for almost all of his everyday needs in Beijing, from taxis to utilities and grocery bills."
  • Intel is Testing a Blockchain it Built With a Fantasy Sports Game - CoinDesk - "The proof of concept works by enabling the exchange of digitized assets that represent shares of different sports teams."

ON THE WIRES

  • UK Payment Systems Regulator: "Banks should sell their stake in UK payments infrastructure to help increase innovation and competition - "The evidence published today indicates that the common ownership of this infrastructure provider by this small number of banks is having a negative impact on innovation and competition in the industry. As a result, the PSR is proposing that these banks sell part of their stakes in VocaLink in order to open the market and allow for more effective competition and innovation."
  • Wirex: A Hybrid Financial Platform That Uses Blockchain Technology - "Wirex is the first service of its kind to provide bankless financial services, and it is designed to close the gap between digital and traditional currencies for everyday financial transactions. Evolving to fill the needs of the global citizen, Wirex will offer 3 main services: convenient mobile banking via the Wirex app, instant remittance services, and upgraded 2-way debit cards that allow on-demand conversion between bitcoin and traditional currencies."

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!

February 23, 2016

Headline News from PaymentsNews.com - February 23, 2016

ON THE WEB

  • How This $2.3 Billion Swedish Company Plans to Dominate the U.S. Payments Sector - Inc. - "Klarna, for that matter, is not your average payments processor. By partnering with merchants, the system allows customers to purchase an item simply by entering their name, email address, and zip code."
  • Amazon Web Services Takes Aim at Big Banks - "The company’s Amazon Web Services unit has been approaching banks such as Citigroup Inc., Goldman Sachs Group Inc. and J.P. Morgan Chase & Co., people familiar with the matter said."
  • JPMorgan Quietly Tests ‘Blockchain’ With 2,200 Clients - Wall St. Journal - "The nation’s largest bank has been testing the program in recent months to move U.S. dollars for about 2,200 clients between the two financial centers using a version of the “blockchain” technology that underpins bitcoin..."
  • Mastercard Is Expanding Its 'Selfie Pay' Capabilities - Fortune - "When making a purchase online from a merchant that requires identity verification, cardholders can authorize the transaction by holding up their phones as if taking a selfie and blinking..."
  • Getting Rid of Big Currency Notes Could Help Fight Crime - New York Times - "Getting rid of big bills will make it harder for criminals to do business and make it easier for law enforcement to detect illicit activity."
  • Reserve Bank says Australian dollars could come in digital form in future - Sydney Morning Herald - "In a speech where he also flagged the end of the cheque, Mr Richards said the RBA had been watching the growth in demand for privately-established virtual currencies like Bitcoin, and believed there was a place for a central-bank-issued digital currency in Australia."
  • The Ongoing Evolution of the Australian Payments System - Reserve Bank of Australia (Tony Richards) - "Today's conference is on payments innovation and I would like to speak about some ways that our payments system is evolving, both in terms of some innovative new payment instruments that are on their way and the declining use of some of our older or legacy payment instruments."
  • UK FinTech: Regulating for innovation - FCA (Christopher Woolard) - "How can regulation foster innovation in financial services? And as part of that how can we ensure that we have a regulatory environment fit for future innovation?"

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.

EVENTS

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 22, 2016

Headline News from PaymentsNews.com - February 22, 2016

ON THE WEB

  • 2016 Payment Predictions - FRB Atlanta - Take on Payments Blog - "In our 2015 year-end review, we promised we would provide some predictions and expectations for payments in the United States during 2016. Predictions are usually pretty…unpredictable, so by waiting a couple of months to release ours, we're hoping they will end up being more accurate than usual."
  • How Walmart Pay could help the mass merchant compete against Amazon - Mobile Commerce Daily - "By rolling out Walmart Pay, Walmart now has to walk a fine line of engaging mobile customers who’ve come to rely on this convenience while still catering to those less inclined to try out the new payment experience."

ON THE WIRES

  • GSMA and Mobile Operators Launch Initiative to Extend Mobile Money and Mobile Internet to Women Globally - "The GSMA today announced the launch of the Connected Women Commitment Initiative, aimed at reducing the mobile gender gap. Initial commitments by GSMA operator members, with over 75 million mobile internet and mobile money customers, will aim to connect millions more women in low- and middle-income countries by 2020."
  • PayPal Extends Mobile Leadership and Consumer Choice With New Partnerships and Product Innovations - "PayPal announced a collaboration with one of Europe’s largest mobile carriers, Vodafone, where millions of PayPal’s European customers will be able to fund payments on Android smartphones at Visa contactless terminals using the Vodafone Wallet. The service will start in Spain and expand to additional European markets later this year."
  • Visa Extends Secure Payments to the Automotive Industry - “The notion of transforming a car into a platform for payments is not as far off as some may think, and we have made a great deal of progress since first introducing the idea one year ago,” said Jim McCarthy, executive vice president of innovation and strategic partnerships, Visa Inc. “Working with Honda to test these prototypes gets us another step closer toward commercial reality, which we think provides exciting opportunities to everyone who plays a role in the payments and automotive ecosystems.”
  • Visa Checkout Launching Across Europe and India - "Since its introduction in 2014, Visa Checkout has launched in 16 countries, with usage growing to more than 11 million consumer accounts and acceptance by more than 250,000 merchants. In 2016, the service will reach a total of 22 markets around the world, including Australia, Argentina, Brazil, Canada, Chile, China, Colombia, France, Hong Kong, Ireland, India, Malaysia, Mexico, New Zealand, Peru, Poland, Singapore, Spain, South Africa, United Arab Emirates, the United Kingdom and the United States."
  • Visa Brings Secure Payments to the Internet of Things - "The first IoT companies to join the Visa Ready Program will focus on payments for wearables and automobiles. Initial Visa Ready partners include Accenture, Coin, Giesecke & Devrient, Fit Pay, and Samsung, who will work with device manufacturers including Chronos and Pebble, to help embed secure payments in consumer devices and have those devices certified as Visa Ready."
  • Coin Launches Developer Program to Enable Access to MasterCard’s Tokenization Platform and Accelerate Payments in Wearables - “Signing up for the Coin developer program gives wearables manufacturers transparent access to a turnkey solution,” said Kanishk Parashar, CEO and Co-Founder of Coin. “The program makes commerce accessible to device makers as payments on wearables become table stakes. We are confident that our miniaturized and secure payment technology, combined with MasterCard’s tokenization, will benefit our wearables partners with increased engagement of their products.”
  • American Express, Discover, MasterCard, and Visa Purchase Volume Up 7.8% in 2015 - David Robertson, publisher of The Nilson Report, said, “For the third year in a row, the percentage increase for purchase volume on Visa credit cards was better than any other credit or debit card type.”
  • Samsung Pay Continues Global Momentum in 2016 - "In 2016, Samsung Pay will start global expansion beginning with China in March, followed by Australia, Brazil, Singapore, Spain and the U.K. later in the year. Additionally, Canada will be added to the new launch roadmap."
  • Samsung Pay coming to MBNA customers in the UK - Ian O’Doherty, CEO of MBNA, said: “Our customers are looking to MBNA as the credit card experts to deliver handy new ways to pay – ways that offer them convenience, speed and safety. We’re investing in delivering our customers Samsung Pay at the earliest opportunity, showing how we’re helping make life easier for them.”
  • Wincor Nixdorf and Mahindra Comviva Partner to Enable NFC and QR Code Based Transactions at the ATM With Mobiquity® Wallet - "With advent of this new solution, consumers using mobile wallets powered by Mahindra Comviva's mobiquity® Wallet will be able to withdraw cash and top up their mobile wallets at the ATM by simply scanning or presenting a QR code or use their NFC enabled mobile device."

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.

EVENTS

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 19, 2016

Headline News from PaymentsNews.com - February 19, 2016

ON THE WEB

ON THE WIRES

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.

EVENTS

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, 2016

Headline News from PaymentsNews.com - January 29, 2016

ON THE WEB

  • PwC and Blockstream Announce Strategic Partnership - "For our clients, understanding new world applications of Bitcoin and blockchain technology, adapting it for myriad uses, and using it optimally are critical to improving financial security, efficiency and compliance," said Haskell S. Garfinkel, Partner, FinTech Co-Leader, PwC. "PwC is teaming with Blockstream to offer our joint knowledge and capabilities to clients – giving them one place to go, maximizing expertise, talent, and assets from both organizations."
  • Payment Processor to Stop Working With Daily Fantasy Sports Clients - New York Times - "Vantiv Entertainment Solutions, the processing company, told its daily fantasy clients, which include FanDuel and DraftKings, that it would “suspend all processing for payment transactions” related to daily fantasy sports in the United States and its territories on Feb. 29."
  • RTGS, and the story of batches instead of blocks - FT Alphaville - "Here begins a tale of how the Bank of England’s settlement system got broken without anyone really noticing…"
  • Facebook open to payments partnerships with Apple Pay, others - Apple Insider - "We'll partner with everyone who does payments," Zuckerberg said. "We look at the stuff that Apple is doing with Apple Pay, for example, as a really neat innovation in the space that takes a lot of friction out of transactions as well."

ON THE WIRES

  • Visa Launches Commerce Network to Drive Merchant Sales and Deliver New Cardholder Benefits - "Visa Commerce Network works by connecting transactions between two merchants. For example, a hotel can provide its customers with offers from local restaurants using Visa Commerce Network, and with cardholder consent, track engagement and even issue rewards. Qualifying purchases are recognized at the point of sale and rewards can be seamlessly applied to cardholder accounts – eliminating the need for coupons or redemption schemes."
  • MasterCard Incorporated Reports Fourth-Quarter and Full-Year 2015 Financial Results - “Despite a challenging economy, we were able to deliver solid results for the quarter and the full year in 2015,” said Ajay Banga, president and CEO, MasterCard. “Entering 2016, while uncertainty in the global economy persists, the fundamentals of our business and our approach remain unchanged. We continue to be laser focused on our strategy to lead payment innovation in an increasingly digital world with solutions such as MasterPass, while growing the use of electronic payments through our products, partnerships and increased acceptance at the point-of-sale.”
  • FTC Announces Significant Enhancements to IdentityTheft.gov - "For the first time, identity theft victims can now go online and get a free, personalized identity theft recovery plan as a result of significant enhancements to the Federal Trade Commission’s IdentityTheft.gov website."

EVENTS

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 21, 2015

Headline News from PaymentsNews.com - December 21, 2015

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!

December 16, 2015

Headline News from PaymentsNews.com - December 16, 2015

On the Web

  • Merchants Go on Offense in Digital Payments - PaymentsViews.com (Bryan Derman) - "We are now seeing that economic leverage gradually imposed on the rest of the payment value chain (short-circuiting network fees through negotiated, bilateral interchange) in a way that more fully reflects their importance of major retailers in the dominant consumer sector of the U.S. economy."
  • Federal Reserve issues FOMC statement - "Given the economic outlook, and recognizing the time it takes for policy actions to affect future economic outcomes, the Committee decided to raise the target range for the federal funds rate to 1/4 to 1/2 percent."
  • Braintree Drives Commerce Forward with Facebook Messenger and Uber - Braintree Blog - “We are excited to partner with Braintree to offer users increased convenience, flexibility, and security,” said P.J. Linarducci, Facebook Head of Payment Products.
  • Australia banks agree Android Pay deal, Apple Pay still frozen out - Reuters - "It's a big bargaining chip for (Australian) banks to use to force a better deal with Apple," said Foad Fadaghi, managing director of technology research firm Telsyte.
  • Paytm’s Founder On Its Online-To-Offline Strategy In India - TechCrunch - "In India, Paytm also wants to position itself as a better option than credit cards, which are slowly gaining in popularity but still used by relatively few Indian consumers."
  • Asia-Pacific Is Home to Majority of World Retail Ecommerce Market - eMarketer - "For the first time, the region will not only have the largest digital retail market in the world, but its share of global digital retail spend will also reach 52.5%—the first time it holds an outright majority of the world market."

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!

December 11, 2015

Headline News from PaymentsNews.com - December 11, 2015

What I'm Reading

  • This week your editor has been enjoying reading America's Bank: The Epic Struggle to Create the Federal Reserve by Roger Lowenstein.
  • From the description: "A tour de force of historical reportage, America’s Bank illuminates the tumultuous era and remarkable personalities that spurred the unlikely birth of America’s modern central bank, the Federal Reserve. Today, the Fed is the bedrock of the financial landscape, yet the fight to create it was so protracted and divisive that it seems a small miracle that it was ever established. "
  • How about you? What are you enjoying? Drop me a quick note and tell me about it: editor@paymentsnews.com

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!

December 09, 2015

Headline News from PaymentsNews.com - December 9, 2015

On the Web

On the Wires

  • MasterCard Crowns Champion in the Inaugural Masters of Code Global Hackathon Series - "MoneyRemaid earned the title of Masters of Code by building a software platform to disrupt the way domestic workers in Southeast Asia could receive and manage their salaries. The team, comprised of a young woman and four young men, was awarded the grand prize of $100,000 seed funding, incubation in the MasterCard StartPath program, six months of executive mentoring and free payment processing for up to $250,000 in transactions for the first 12 months using Simplify Commerce."
  • Dunkin’ Donuts Selects CARDFREE as the Mobile Platform for its Next Generation Mobile Application to Include Mobile Ordering and Enhanced Features - "CARDFREE, the leading mobile commerce provider to large merchants, announced that it is the mobile application platform provider enabling Dunkin’ Donuts’ new On-the-Go Ordering app that is currently being tested in Portland, Maine. The company was selected by Dunkin’ Donuts to provide the mobile ordering application solution to make it easier and more convenient for members of the brand’s DD Perks® Rewards Program to place an order from their mobile phone."
  • The European Union Helps Merchants and Consumers by Reforming Its Credit-Card Market While the U.S. Lags - “The EU’s just and thoughtful action should spur policymakers in the U.S. to take a closer look at these bloated fees which, without competition, just keep growing,” said Lyle Beckwith, a senior vice president at NACS, the National Association of Convenience Stores, and a member of the Merchants Payments Coalition. “We applaud the EU for standing up to the credit-card giants who continue to fleece American merchants and consumers.”

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 06, 2015

Headline News from PaymentsNews.com - November 6, 2015

What I'm Reading

  • This weekend your editor will be reading Alexander Hamilton by Ron Chernow.
  • Hamilton, the hit musical by Lin-Manuel Miranda now on Broadway, was inspired by this 2004 biography Alexander Hamilton. From the book's description: "In the first full-length biography of Alexander Hamilton in decades, National Book Award winner Ron Chernow tells the riveting story of a man who overcame all odds to shape, inspire, and scandalize the newborn America."
  • How about you? What are you reading? Drop me a quick note and tell me about it: editor@paymentsnews.com

On the Web

  • The Uberization of Money - Wall St. Journal - "Over the next decade, the familiar 20th-century modes of banking and investing will give way to something very different. We are on the verge of the Uberization of finance, which will bring multiple new opportunities but also a range of new risks."
  • Discussion Paper Released: Exploring the Use of Anonymized Consumer Credit Information to Estimate Economic Conditions: An Application of Big Data - Federal Reserve Bank of Philadelphia - "The emergence of high-frequency administrative data and other big data offers an opportunity for improvements to economic forecasting models. This paper considers the potential advantages and limitations of using information contained in anonymized consumer credit reports for improving estimates of current and future economic conditions for various geographic areas and demographic markets."
  • Square Sets Conservative I.P.O. Price Range - New York Times - "Even at the high end of the range set by Square, the valuation would be $4.2 billion, representing a 30 percent discount to the $6 billion that Square was valued at privately."

On the Wires

  • U.S. Bank Introduces ScoreBoard, an Online Payment-Management Tool for Consumers - "Available through U.S. Bank internet banking, ScoreBoard features easy-to-read charts and graphs that provide a monthly snapshot of credit-card purchases and payments, such as travel, home improvement and gas purchases."
  • Former Borderfree CEO Michael DeSimone Appointed as ShopKeep’s New Chief Operating Officer - “Over the past year ShopKeep has grown exponentially and it’s important for us to be strategic about how we continue to operate and scale the company,” said ShopKeep CEO and President, Norm Merritt. “Mike’s extensive experience in operations, as well as his deep understanding of the market, will be incredibly important to us as we work to introduce new services that benefit our merchants. I am excited to work closely with Mike to chart ShopKeep’s continued path forward, and further our mission of helping small businesses take back Main Street.”

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!

November 05, 2015

Headline News from PaymentsNews.com - November 5, 2015

On the Web

  • Distribution v Innovation - Alex Rampell - "This is the flaw with looking at Square and Stripe and calling them commodity players. They have the distribution. They have the engineering talent. They can build their own TiVo."
  • Jamie Dimon: Bitcoin Will Not Survive - CoinDesk - "This is my personal opinion, there will be no real, non-controlled currency in the world. There is no government that's going to put up with it for long ... there will be no currency that gets around government controls."
  • Uber is trying to lure new drivers by offering bank accounts - Quartz - "The plan, which is in its early stages, would allow drivers to easily register for a bank account or prepaid card when signing up to work for Uber..."

On the Wires

  • Walgreens First to Launch Loyalty Program Integration with Apple Pay - "Walgreens Balance® Rewards members can now seamlessly use their account through Apple Pay - without separately scanning a Balance Rewards card or barcode. More than 85 million active Balance Rewards members will have the ability to earn and redeem loyalty points via Apple Pay, the easy, secure and private way to pay."
  • ACI Worldwide Acquires Leading Global eCommerce Payments Solutions Provider, PAY.ON - "Based in Munich, Germany, PAY.ON delivers a white label global payment gateway solution to payment services providers (PSPs) and acquirers globally. PAY.ON’s solution features connectivity to more than 300 alternative payment methods and card acquirers in more than 160 countries."
  • Payoneer Selected by Amazon to Expand Cross-Border Payment Options in Select Countries - "In cooperation with Payoneer, Amazon now allows sellers to sign up for Payoneer directly from Amazon Seller Central. Upon Payoneer registration, sellers receive online accounts that can collect Amazon disbursements, and that provide access to these disbursements through local bank account withdrawal or through the use of a Payoneer MasterCard®. This alliance marks the first time that Amazon has expanded Seller Central cross-border payment capabilities through alliance with an external payment solution."
  • Federal Reserve Announces Sixth Triennial Study to Examine U.S. Payments Usage - "The 2016 Federal Reserve Payments Study consists of three complimentary survey efforts commissioned to estimate the number, dollar value and composition of retail noncash payments in the United States for calendar year 2015. The study will request full-year 2015 payments data for various payment types from respondents to two of the three survey components; the third component involves a random sampling of checks processed in 2015 to determine distribution of party, counterparty and purpose. Results from all three survey components will be used to estimate current trends in the use of payment instruments by U.S. consumers and businesses."
  • Wells Fargo Spurs Innovation with New Startup Accelerator Class - “Our Startup Accelerator expands our vision of the future of financial services beyond the boundaries of Wells Fargo and banking, introducing us to innovators who want to shape how our customers handle their financial needs in the future,” said Steve Ellis, head of Wells Fargo’s Innovation Group. "Our business and technology leaders work closely with accelerator members to test concepts, validate technologies, identify market opportunities, and guide them through the process of bringing their ideas to market.”
  • U.S. Bank FlexPerks Visa Customers Can Now Instantly Redeem Reward Points to Pay for Purchases - "Customers simply activate Real-Time Rewards, make a purchase with their FlexPerks Visa card, and respond to a text message to accept or decline a redemption offer. Accepted offers trigger a credit to the customer’s billing statement for the purchase amount and a deduction of FlexPoints from the customer’s point balance."

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!

October 23, 2015

Headline News from PaymentsNews.com - October 23, 2015

What I'm Reading...

  • This weekend your editor will be reading Other People's Money: The Real Business of Finance by John Kay, a visiting professor of economics at the London School of Economics. From the book's description: "In a dazzling and revelatory tour of the financial world as it has emerged from the wreckage of the 2008 crisis, Kay does not flinch in his criticism: we do need some of the things that Citigroup and Goldman Sachs do, but we do not need Citigroup and Goldman to do them."
  • How about you? What are you reading? Drop me a quick note and tell me about it: editor@paymentsnews.com

On the Web

  • Take Your Brick-and-Mortar Store Online: Square Now Integrates with Ecwid - Square Blog - "But here’s what’s extra cool about Ecwid: You can use it to sell your goods not only on your website but also on any other platform (think: Facebook, Tumblr, other online marketplaces)."
  • Global Payments (GPN) held its annual Investor Day earlier this week.
  • Payment Cards Center Updates Consumer Credit & Payments Statistics - "The Payment Cards Center (PCC) Consumer Statistics page provides updated statistics related to consumer credit and consumer payments. The PCC compiles statistics on a quarterly basis that are relevant to researchers, reporters, and others interested in consumer credit and payments."
  • What VCs Really Think of Banks - LendAcademy - "Investments into FinTech startups recently quadrupled, growing to over ~$12 billion in 2014 from ~$3 billion in 2013. It appears 2015 is on track to dwarf the previous year..."
  • Have you noticed Amazon Web Services? - New York Times - "Amazon had more operating income from Amazon Web Services, its business renting computing and software applications, than it did from combined sales of goods in the United States and internationally."

On the Wires

  • It's a slow day for press releases - presumably everything interesting is now waiting to be announced next week at Money20/20 in Las Vegas! Have a great weekend and trip to the conference - if you're going! Several partners from Glenbrook will be attending.
  • Statement by CFPB Director Richard Cordray on RushCard Prepaid Card Incident - "Today, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray issued the following statement in response to the RushCard situation, a prepaid card owned by UniRush LLC, in which many consumers have indicated that they have been unable to access funds in their accounts for more than a week..."
  • Visa Checkout Brings Simplified Online Shopping to Brazil - "In the US, shoppers made purchase more often when using Visa Checkout compared to customers using other payment options,” says Percival Jatoba, vice president, products, Visa do Brasil. “With this streamlined approach to payments, merchants and financial institutions see higher conversion rates which ultimately brings new customers and drives higher sales."

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!

October 07, 2015

Headline News from PaymentsNews.com - October 7, 2015

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

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 23, 2015

Headline News from PaymentsNews.com - September 23, 2015

Please participate in this quick survey on B2B Payments:

  • Glenbrook's Erin McCune writes: We have plenty of strong opinions about B2B payments, but we're eager for YOUR perspectives. Please take a moment to answer our brief survey (only 5 questions!) here: https://www.surveymonkey.com/r/B2B2015-PN

On the Web:

  • First Data Aims to Raise $3 Billion in IPO - Wall St. Journal - "Payment processing giant First Data Corp. is planning to raise $3 billion in an initial public offering slated to kick off this week..."
  • Coming Soon to Checkouts: Microchip-Card Payment Systems - New York Times - "Visa drew a line in the sand four years ago: American merchants would have until October 2015 to update their systems or absorb the losses themselves. Other major card networks quickly adopted the same deadline."
  • EMV's 12 Elephant Fail and the Case for Contactless - LinkedIn Pulse (Nick Holland) - "Now, I’d not profess to be the smartest guy, but I do know a thing or two about the payments industry and for me, this was an awkward experience."
  • Square Opening St. Louis Office - CBS St. Louis - “St. Louis is an important part of Square’s history,” Jack Dorsey, co-founder and CEO, said in a statement. “It’s an incredible city and my hometown, and we’re excited to further invest in the community. Go Cards!”

On the Wires:

  • Enhancements to Federal Reserve Bank Same-Day ACH Service - "The Federal Reserve Board on Wednesday announced the approval of enhancements to the Federal Reserve Banks' same-day automated clearing house (ACH) service. The enhancements are intended to align the Reserve Banks' same-day ACH service with recent amendments to NACHA's ACH operating rules and will facilitate the use of the ACH network for certain time-critical payments, accelerate final settlement, and improve funds availability to payment recipients."
  • First Data and Pivotal Team Up to Deliver Simple and Secure Payment Services to Spring Developers - “At First Data, we are committed to working with the developer community to unlock the next big breakthrough in fintech,” said Guy Chiarello, President, First Data. “We are thrilled to join with Pivotal, a major force in the developer ecosystem, as we continue to attract developer talent and deliver ongoing innovation in payments.”

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 18, 2015

Headline News from PaymentsNews.com - September 18, 2015

On the Web:

On the Wires:

  • How Ready Are U.S. Merchants for EMV? - "The Strawhecker Group (TSG) released survey results today that illustrated only 27 percent of U.S. merchants will be EMV-ready by the October 1st liability shift. This represents a sizable decline from 34 percent estimated in March."
  • Boku Brings Carrier Billing to the Coffee Shop - "Boku, the global leader in mobile payments using carrier billing, announced a new partnership with Japan’s largest coffee chain, Ueshima Coffee Co., part of the UCC Group, to bring carrier billing to its brick and mortar coffee shops across Japan. This is a first of its kind partnership that allows customers to top up their Ueshima Coffee cards using their mobile phone in order to purchase coffee, food, and other products in any Ueshima coffee shop."
  • Himanshu Patel Appointed Chief Financial Officer of First Data Corporation - “Himanshu was one of the first executives to join the company after I arrived at First Data and, since then, has served as a thoughtful and trusted advisor for everyone on the leadership team, including me,” said Frank Bisignano, Chairman and CEO of First Data. “With Himanshu in this new role, First Data will have a world-class executive with an in-depth knowledge of both the financial community and payments industry as we approach the next chapter of our transformation.”

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 15, 2015

Headline News from PaymentsNews.com - September 15, 2015

On the Web:

  • India – A Good Approach for Financial Inclusion - PaymentsViews.com (Carol Coye Benson) - "My progressive friends in the U.S. are appalled by this central, government-controlled identity system. They see only threats to individual control over identity. I recognize this as a challenge, and I doubt that this type of system will find a home any time soon in the developed world."
  • Global Investment Banks Back Blockchain Initiative - CoinDesk - "Nine major investment banks including J.P. Morgan Chase and Goldman Sachs have partnered with distributed ledger startup R3CEV."

On the Wires:

  • Visa Introduces EMV Chip-based Biometrics - “There is increasing demand for biometrics as a more convenient and secure alternative to signatures or PINs, especially as biometrics technologies have become more reliable and available,” said Mark Nelsen, senior vice president of Risk Products and Business Intelligence, Visa Inc. “However, to support wide adoption, it is equally important that solutions are scalable and based on open standards. Building on the EMV chip standard provides a common, interoperable foundation, as well as encourages innovation in cutting-edge biometric solutions.”
  • Bank of America Introduces Fingerprint and Touch ID Sign-in for Its Mobile Banking App - The new updates include the introduction of fingerprint and Touch ID sign-in, in addition to the launch of an Apple Watch mobile banking app, streamlined “Accounts Overview” page and new Security Center for more than 31 million active digital banking customers.
  • SecureKey Ushers in New Era of Convenience, Security and Privacy for Accessing Online Services in the United States - “SecureKey’s consumer-oriented ID network enables stronger digital identities, eliminating many of the challenges currently associated with accessing online services,” said Dominic Venturo, EVP and Chief Innovation Officer at U.S. Bank. “We look forward to collaborating with SecureKey to grow this ecosystem of trusted credentials for the benefit of our customers nationwide.”

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!

September 02, 2015

Headline News from PaymentsNews.com - September 2, 2015

On the Web:

On the Wires:

  • Former Visa CEO Joins Kash - "I doubt there are more than a handful of people who know as much about payments in the US as Joe Saunders. He was the CEO of Fleet Credit Card Services, CEO of Providian, and President of Card Services at Washington Mutual. He is joining Kash as the Chairman of our Board."
  • FDIC-Insured Institutions Earn $43 Billion in Second Quarter 2015 - "Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $43.0 billion in the second quarter of 2015, up $2.9 billion (7.3 percent) from a year earlier and the highest quarterly income on record. The increase in earnings was mainly attributable to a $3.6 billion rise in net operating revenue (net interest income plus total noninterest income). Financial results for the second quarter of 2015 are included in the FDIC's latest Quarterly Banking Profile released today."
  • Banking with the “Bat of an Eye”: First Internet Bank Offers Eyeprint ID Technology for Mobile Banking Access - “Eyeprint ID is the latest demonstration of First Internet Bank’s commitment to customer-centric digital banking,” said David Becker, President and CEO. “Eyeprint ID comes quickly after our introduction of Touch ID authentication earlier this year, which enables customers to log in with a fingerprint. Biometric technology allows us to provide innovative solutions to our customers’ need for secure, convenient account access.”
  • Shopkick Blows Past 15 Million Users, Doubles in One Year - “If you stacked all of the gift cards that users have received from shopkick, the pile would be 18 Empire State Buildings, or over four miles, high. That’s 15 billion Kicks, or $60 million, that we’ve rewarded to shopkick users just for shopping how they want to shop,” said Cyriac Roeding, co-founder and CEO of shopkick.
  • Xoom Launches Money Transfer Service to Singapore - “We are so excited to offer our money transfer services to customers with family and friends in Singapore,” said Iain Allison, Vice President of Business Development at Xoom. “We look forward to delivering convenient, safe, and economic service to the Singapore market."

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!

Payments News on Facebook
Glenbrook Partners

PAYMENTS NEWS IS PRODUCED BY AND IS A SERVICE MARK OF GLENBROOK PARTNERS, LLC
ISSN 1556-4487

Glenbrook's Consulting Services

  • Innovation and Strategy
  • Payments Product Development
  • Payments Market Assessments
  • Payments Vendor Selection
  • Merchant Payments Optimization
  • Payments Risk Management
  •  
  • To discuss how Glenbrook can
    help you
    , email us:

Glenbrook's Payments Education

  • Payments Boot Camps
  • Payments Essentials Webinars
  • Private Payments Workshops
  •  
  •  
  •  
  •  
  • For more information on Glenbrook's payments education, email us:

Tools for Payments Professionals

  • Glenbrook Writings
  • Payments News
  • Payments Views
  • Payments Jobs
  • Payments Education
  • Payments Bookstore
  •  
  • To send us news that you'd like us to cover on Payments News, email us:

Contacts:                        
Compilation Copyright © 2002 - 2016 Glenbrook Partners LLC. All Rights Reserved.
Terms of Use        Privacy Policy        RSS Feed        Payments News RSS Feed

Subscribe to Payments News   

Follow Payments News on Twitter for Real-Time Updates