On the Web:
- Welcome to a new Google Wallet - Google Commerce Blog - "Today, we’re announcing a new Google Wallet app -- now focused exclusively on sending and receiving money. You can use Google Wallet with your Android or iOS device to send money to anyone in the US with an email address, even if they are not a Wallet user. And now, when you receive money through Google Wallet, you can quickly cash out to a debit card or linked bank account."
- Online Bank Simple Ditches All Its Fees - TechCrunch - “This revenue model is a manifestation of our belief that you should have access to your money when you need it, without paying fees,” explains Simple co-founder and CEO Josh Reich.
- A Venezuelan in Silicon Valley Finds a Niche in Finance - New York Times - "Both feel indebted to Meyer Malka, 41, a Venezuelan known as Micky. In 2012 he formed the venture capital firm Ribbit Capital here. Since then, he has become a rising force in Silicon Valley and one of the few Latin Americans to crack its upper echelon."
- Visa Hires 1,000 Tech Professionals, Reduces Reliance on Outside Contractors - Wall St. Journal - "Visa Inc. is about halfway to hiring the 2,000 technology professionals it intends to add by 2017, a goal set a year ago as the company works to improve and expand its digital financial services."
- Tencent’s WeChat App to Offer Personal Loans in Minutes - Wall St. Journal - "The new WeChat feature called Weilidai -- which literally means “a tiny bit of loan”—allows users to borrow up to 200,000 yuan ($31,350) without guarantee or collateral."
- Fundbox Secures $50 Million More To Power Small Businesses - TechCrunch - "For small businesses that run on invoices, Fundbox issues loans in the exact amount of each invoice so that business owners don’t have to wait the 30, 60 or 90 days it typically takes to get paid."
On the Wires:
- Abra Closes Series A Financing; Has Raised over $14 Million to Date to Disrupt the Global Money Transfer Market - RRE Ventures Managing Partner and Abra Co-Founder Jim Robinson is particularly excited about the potential of Abra to disrupt the global money transfer market. “As early proponents of Blockchain technology, we believe that Abra is one of the companies that’s fully leveraging the potential of the technology by reducing friction in financial services. It’s not about Bitcoin for the sake of Bitcoin – it’s about how the technology can solve problems for consumers worldwide, even if they don’t know what the Blockchain is.”
- Android Pay™ Available for Wells Fargo Customers - “Today, we’re pleased to participate in Android Pay, increasing the availability of mobile payments to millions of Android device-loving Wells Fargo customers. This represents the latest offering in our commitment to give customers new, innovative ways to pay safely and easily, how and where they want,” said Jim Smith, head of Virtual Channels for Wells Fargo.
- U.S. Bank and Elavon Customers Can Make and Accept Payments with Android Devices - “Adding Android Pay as a mobile payment option for our cardmembers and merchant customers is one more way we make it convenient for our customers to do business with U.S. Bank and Elavon,” said Dominic Venturo, chief innovation officer at U.S. Bank. “Android Pay aligns with our commitment to innovation that leads to better experiences for our customers.”
- Regions Debit, Credit and Now Cards Are Available for Use with Android Pay - “Regions was one of the first banks in the nation to be announced as a participant in this service. This is another step forward in enabling our customers to manage their finances when and where they choose,” said Scott Peters, head of Regions Consumer Services.
- Payment-Banking-Telecommunications: Trends and Challenges for the Years Ahead - "Companies from the banking sector are now capable of offering digital transactions and payments, and have as such completely flattened the payment, banks and telecommunications landscape, leaving them to be reshaped from the ground up."
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.
Updates from Glenbrook:
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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!