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Welcome to the News View for "Glenbrook".

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

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March 03, 2014

Cards and Wallets and Mobile Payments - Oh My!

PaymentsViews logo 140pxOver on our blog, Glenbrook's Carol Coye Benson tries her had at a one page diagram illustrating the evolution of cards, wallets and mobile payments.

What really jumps out for me is the issue of card-not-present rules for cloud wallets. Particularly if these wallets are populated with issuer tokens...
Read her post here - and add your comments!

February 27, 2014

The Chernobyl of Payments?

PaymentsViews logo 140pxIn an article titled "Is the Target Breach the Chernobyl of Payments?" on our blog, Glenbrook's Allen Weinberg says he's "been thinking that the Target breach has become the Chernobyl of the payments world."

I’m wondering if we, who unlike Europeans and others, can’t be bothered to use Verified by Visa and MasterCard SecureCode because “we’re protected anyway”, may be taking a different view of who we give our payment credentials to after “Payments Chernobyl” and what steps we’ll be willing to take to protect our accounts.

Has the Target breach affected your use of cards for payments? Read Allen's article and add your comments - he'd enjoy hearing from you.

February 26, 2014

New on Mt.Gox Collapses, Bitcoin Shrugs It Off

PaymentsViews logo 140pxIn a post on our web site, Glenbrook's George Peabody takes a look at recent Bitcoin events - and writes "This is not, however, an existential event for Bitcoin as some news outlets have claimed."

February 24, 2014

Dispatch from the Smart Card Alliance Payments Conference

PaymentsViews logo 140pxIn a post over on our blog, Glenbrook's George Peabody provides an update from his visit to the Smart Card Alliance Payments Conference held earlier this month in Salt Lake City.

This year, for EMV in the USA, that groundhog must not have seen his shadow because the card standard’s long winter in the US looks to be ending and, while hardly early, this may be springtime for EMV in the USA.

February 21, 2014

Upcoming Glenbrook Insight Workshops: Bitcoin, Data in Payments

GP Logo Horizontal 140pxGlenbrook is pleased to announce a new series of workshops to complement our Payments Boot Camps. Our one-day Payments Insight Workshops are designed to provide critical in-depth information on specialized topics important to payments professionals.

Our first Insight Workshop, "Bitcoin: Basics and Beyond," will delve into the mechanics, possibilities, and controversies of Bitcoin and the larger world of crypto currencies. Registration for our first session, on March 26th in Mountain View, CA is now open.

Later in the spring, you can look forward to "Data in Payments" on April 22nd and "Innovation in Payments" on May 8th. The schedule of upcoming Insight Workshops, as well as our popular two-day Payments Boot Camps, is on our website.

February 18, 2014

New Kindle Edition of "Payments Systems in the U.S." - Now Available

PSUS KindleWe've often been asked about a Kindle edition of our popular book "Payments Systems in the U.S." - and are proud to announce that our new Kindle edition has just launched in the Kindle Store.

We're also updating the iBooks version of the book for reading on your iPad or the iBooks app on the Mac. Earlier purchasers can download the latest update of the book using the iBooks app on either platform.

Both ebook editions are available in the U.S. at a new low price: $9.99. The softcover print edition will remain available for those who prefer a physical book.

February 12, 2014

What’s the Difference Between Card Acceptance and a Deposit?

GP Logo Horizontal 140pxGlenbrook's Carol Coye Benson has just posted an article on our blog asking the question: "What’s the difference between card acceptance and a deposit?"

In both cases, money is being delivered into a merchant’s bank account – in fact, a purist would point out that a deposit actually is the last stage of card acceptance for a merchant.

But consider instead a different kind of deposit – something that is more like the deposit of your salary into your bank account. In the U.S., this is done through our ACH system. Your employer sends a file to their bank, and a day or two later money is deposited into your account.

Your bank doesn’t charge you for accepting this deposit – in fact, they are glad to have your money come in. They pay a tiny processing fee to the ACH operator who sends the file to them. But no one pays anything like the “merchant discount fee” that a card-accepting merchant pays.

Be sure to read the full article - and share your comments with her!

January 30, 2014 The Biggest Mobile Payments Story You’ve Never Heard

PaymentsViews logo 140pxIn an article titled The Biggest Mobile Payments Story You’ve Never Heard over on our blog, Glenbrook's Elizabeth McQuerry writes about developments in mobile payments in Latin America. Elizabeth writes:

As we move into 2014 – yet (again) the year when many say mobile payments are destined to gain traction – let’s look at some key developments in the space. No, I’m not talking about the newest pilot participant in ISIS or whether Apple will be the new sheriff in town. Instead, let’s look to the south to where the foundation is being laid for mobile payments to take hold in a few Latin American countries.

If you're so inclined, Elizabeth would appreciate your comments on the article!

January 22, 2014

Managing Cardholder Data Security Risks

GP Logo Horizontal 140pxLast week, Glenbrook's Bryan Derman participated in a webinar titled "Managing Cardholder Data Security Risks in an Evolving Payments Landscape" along with colleagues Craig A. Hoffman of BakerHostetler and Marshall Heilman of Mandiant.

A recording of the webinar along with the slides that were presented are now available online.

January 21, 2014

Now Available: Glenbrook's Payments Systems in the U.S. - Second Edition

The second edition of our book, “Payments Systems in the U.S. - Second Edition” is now available in both print and iBook editions. Updated to reflect recent changes in the industry, the book, described by many as “the new Bible for the Payments Industry”, provides a succinct and entertaining view of payments in the United States.

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The book provides a comprehensive, unbiased, and lively description of the industry”, says Carol Coye Benson, co-author and founding partner at Glenbrook. “It covers what payments systems are and how they work – providing insight into the marketing, economics, operations, technology, risk management and regulatory aspects of each system.

“Like the first edition, the second edition is the companion to our highly popular Payments Boot Camp workshop”, says Scott Loftesness, co-author and founding partner at Glenbrook. “The second edition adds the perspectives of consumers and merchants - the key users of payments systems, as well as that of many payment providers – the networks, banks, processors and service providers.”

Payments Systems in the U.S. - Second Edition is available for order on and as an iBook at the Apple iTunes store. Purchases of the first iBook edition can download an free update to the second edition.

Glenbrook clients may place bulk orders for the book, at a discount, directly with Glenbrook by contacting Registrants to Glenbrook’s Payment Boot Camp also get a copy of the book when they attend the two-day educational workshop.

January 13, 2014

The Age of Context and Security - on

PaymentsViews logo 140pxGlenbrook's George Peabody has just posted "The Age of Context and Security" in which he explores a set of new technologies that he believes could, in combination, "produce a defense in depth that we have not enjoyed for some time."

Combining the smartphone and the cloud, five “Age of Context” technologies or ACTs as I’m calling them, will change how we live, interact, market, sell, and navigate through our daily and transactional lives, if they haven’t already. The many combinations and intersections of these technologies are raising expectations, and concerns, over what’s to come. Everyone has a stake in the outcome: consumers, retailers, major CPG brands, watchdog organizations, regulators, politicians, and the likes of Google, Apple, Microsoft, Amazon, eBay / PayPal, and the entire payments industry.
In this post, George explores some of these technologies and how they could be combined and used to enhance overall payment system security. He'd welcome your reactions and comments!

January 10, 2014

A Look at Payments Regulation in the US and Innovation

PaymentsViews logo 140pxIn a post titled "Payments Regulation in the United States is Hampering Innovation (Really?)" over on attorney Broox Peterson shares his perspective on payments regulation in the United States and its effect on innovation.

The process of identifying and complying with payments regulation that applies to a startup business is probably less daunting than common perceptions of the process, caused in part by the arm-waving of lawyers and compliance specialists (like me) trying to scare startup businesses to take the regulatory requirements seriously, and perhaps over-succeeding. So let me take a stab at dialing back some of the hysteria over payments regulation."
Broox has done a lot of work in and around this space - his perspective is a very thoughtful one. Share your reaction by adding a comment at the end of his article.

January 09, 2014

New on Bitcoin in 2014

PaymentsViews logo 140pxOn, Glenbrook's George Peabody takes a look at the year past and the year ahead for Bitcoin.

Unlike so many Internet phenomena, moving money is not amenable to revolution. Steady evolution is required to build confidence. 2014 should see math-based currencies settle down to the work of proving themselves through continued experience and experimentation.
What are your thoughts about Bitcoin for the year ahead? Add your comment to George's post!

December 30, 2013

Happy New Year from Glenbrook!

Happy New Year iStock 000031208272SmallDear Friends,

What a year it has been! I recently posted an article on summing up some of my thoughts - it begins:

Twelve months ago, there were still people in our industry who didn't know what Bitcoin was. There were still people who believed that EMV would roll out in the U.S. just like it did in the UK or Canada or ... There were still people who thought that the developing world would build payments systems that work like those of the developed world. And I could go on...but have decided to look forward, instead.

What are the key developments and ideas for payments in the year ahead? At Glenbrook, we've been thinking about the most important themes that describe both the current state of affairs and the new innovations that matter - to help bring the crystal ball into focus.

I hope you'll continue reading the rest of my article "The State of Payments: 2014" on Payments Views!

It's also been an incredible year for the team here at Glenbrook. We've particularly enjoyed our ongoing interactions with our clients and with the attendees of our boot camps and payments workshops. We thank you very much for your trust and confidence in us.

Please let your colleagues know that we have two Payments Boot Camps coming up early in 2014 - one in Palo Alto, California (February 4th & 5th) and one in New York City (March 18th & 19th). Follow this link for more information on the current agenda, testimonials, and online registration.

The world of payments continues to impress and excite us. We hope we can educate, support, and inspire each other in 2014!

Best wishes for a great 2014 from all of us here at Glenbrook.

Carol Coye Benson

December 24, 2013

Season's Greetings from Glenbrook Partners!

Season s Greetings Glenbrook

We wish you all the best this holiday season - enjoying good times together with family and friends!

December 22, 2013

The State of Payments: 2014

CarolCoyeBensonOver on, Glenbrook's Carol Coye Benson takes a look at where we are in payments as we enter 2014.

What a year it has been! Twelve months ago, there were still people in our industry who didn’t know what Bitcoin was. There were still people who believed that EMV would roll out in the U.S. just like it did in the U.K.

In a post titled "The State of Payments: 2014", Carol writes about the six key themes "that describe both the current state and the innovations that matter" - Chaos, Embedded, Open, Easier, Faster and Secure.

Check out Carol's perspectives - and share your comments!

December 18, 2013

Webinar: Managing Cardholder Data Security Risks in an Evolving Payments Landscape

BryanDermanJoin Glenbrook's Bryan Derman for a free webinar being held on Wednesday, January 15, 2014 from 2:00 p.m. - 3:30 p.m. EST on the topic of "Managing Cardholder Data Security Risks in an Evolving Payments Landscape". Other panelists include Craig A. Hoffman from BakerHostetler and Marshall Heilman from Mandiant.

Craig, Bryan, and Marshall will provide a look back on significant payment card security events that occurred in 2013 and the security, risk mitigation, and customer relations lessons that can be learned from them.

They will also discuss what the continuing and emerging threats may be in 2014 and how to integrate security into your payment systems as you evaluate and implement emerging payment technologies.

Online registration for the webinar is now available.

December 06, 2013

What We Can Learn from the Developing World About Payments?

CarolOn our sister blog, Glenbrook's Carol Coye Benson has posted a new articled titled "It’s Complicated: What we can learn from the developing world about payments" - based on her participation on Wednesday at Bill Maurer’s IMTFI (Institute for Money, Technology and Financial Inclusion) annual conference at UC Irvine.

In developed countries, relatively affluent payments professionals may think that their estate planning, or mortgage financing, or college funding strategies are complicated, and that their “payment life” is simple. ... But all people, poor or not, have ways of dealing with the intersection of money and the complications of life. Assuming that poverty makes this simple is just wrong. The IMTFI researchers are doing a great job of illustrating this.
Continue the conversation with Carol by sharing your comments on her post or contact her directly at

December 05, 2013

Headline News from - December 5, 2013

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:!

October 21, 2013

New on The Mobile Wallet Wars of 2014

PaymentsViews logo 140pxIn an article titled The Mobile Wallet Wars of 2013 over on our blog, Glenbrook's Russ Jones writes about the distinctions between multi-merchant, general purpose wallets and merchant specific wallets and how wallets might shape up in 2014.

While the payments industry is running in circles trying to figure out the tap-and-pay challenge—which is a genuinely hard problem—merchants are deploying their own apps using the established card-on-file model.
Be sure to read Russ' thoughts and add your own comments/feedback over on

October 15, 2013

Musings on Money2020

PaymentsViews logo 140pxIn a post titled "Money2020: Impressions & Observations" over on our sister site, Glenbrook's Erin McCune shares her thoughts and insights from last week's Money2020 conference in Las Vegas - and she places a bet on "real-time, good funds push payments" in the US within five years.

September 23, 2013

A Look at Brazil’s New Payments Law: Boldly Going Where Few Have Dared to Go Before?

PaymentsViews logo 140pxIn a new article, Glenbrook's Elizabeth McQuerry takes a look at Brazil's new payments law. She writes:

Going forward, Brazil has defined its mobile payments environment and placed parameters around participation as well as what is required of those participants. Yet the legislation extends beyond the mobile payment arena into the larger payments space in also creating a new category of payment institutions. Both mobile payment providers as well as other payment services providers may elect to become payments institutions.
Be sure to read the full article - titled "Brazil’s New Payments Law: Boldly Going Where Few Have Dared to Go Before?" - and add your comments and questions!

August 18, 2013

Aggregation and Aggravation - Micropayments 2013

PaymentsViews logo 140pxOver on our blog in a post titled Aggregation and Aggravation - Micropayments 2013, Glenbrook's Russ Jones laments the lack of a solution to micropayments - saying it's a problem that's never been solved.

Why do micropayments endure as such a challenge in payments? The problem has been the same for many years – the challenge of absorbing fixed payments costs on a small value item. In interchange terms (1.9% plus $0.10), it’s not the 1.9% that’s the problem, its the $0.10.

Russ concludes by noting that "Twenty years into the Internet revolution, the micropayment challenge remains very real for sellers that are dealing in low-cost goods and services. The challenge (or perhaps the opportunity?) will likely increase as more and more of the economy shifts from physical goods to digital goods."

August 16, 2013

Last call for the Bitcoin Survey

GP Logo Horizontal 140pxLet us know what you think. Join the hundreds of other payments industry professionals who have responded to the Bitcoin and Payments Survey.

We've all learned that Bitcoin and other virtual currencies have gained plenty of attention from the financial press, the blogosphere, the tech press, national media, and a long list of entrepreneurs, angel and VC investors. What we haven't learned is what the payments industry itself thinks. That's what the survey is about. It will take just 5 or 10 minutes.

By way of thanks, we will also send you our ebook "Bitcoin and math-based virtual currencies, Some initial thoughts..."

If you'd like to learn more about digital currencies, join Glenbrook Partners and the industry's best thinkers to explore the world of payments at ATM, Debit & Prepaid Forum. Payments News readers receive $200 off registration with promo code PN200.

August 12, 2013

Headline News from - August 12, 2013

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. Find something interesting to share? Tell us about it:!

August 07, 2013

Bitcoin's Growth Not With Pains

PaymentsViews logo 140pxOver on, Glenbrook's George Peabody shares his insights from attending last week's Inside Bitcoins conference in New York City in a post titled Bitcoin's Growth Not Without Pains.

As tools for moving money, these math-based mechanisms have much to offer in terms of speed, security, and cost. It will be a balancing act to maintain those advantages while complying with current and potential regulation.

August 02, 2013

Exploring the Concept of Fractional Identity

GP Logo Horizontal 140pxGlenbrook's George Peabody has co-authored an article on the concept of fractional identity that appeared in the Summer 2013 issue of re:ID magazine.

George and co-author Stephen Wilson of Lockstep Consulting propose fractional identity as a lighter weight alternative to the National Strategy for Trusted Identity in Cyberspace (NSTIC).

Supporting the growing demands for stronger authentication and flexible, context-specific exchange of identity attributes, fractional identity takes advantage of existing contractual relationships instead of requiring the shift of liability to a wholly novel intermediary service provider model.

July 25, 2013

The Payment Industry's Take on Bitcoin

GP Logo Horizontal 140pxBitcoin and other virtual currencies have gained plenty of attention from the financial press, the blogosphere, the tech press, and even the media at large. We've read the pros and cons, with predictions of both revolution and disaster. And we've seen how this ferment has attracted multiple angel and VC investors to the scores of startups already working with math-based currencies and especially Bitcoin.

Until now, what we haven't learned is what the payments industry thinks of all this. What do the many participants in payments - from entrepreneurs, bankers, and regulators to the complex mix of entities in between - have to say about the present and future of math-based currencies like Bitcoin. Please help us find out by taking the "Payments and Bitcoin" survey.

With the survey open for just a few days, the response has been great. The survey should take 5 to 10 minutes to complete. The survey is anonymous - but if you want to see the results, leave your email with us at the end of the survey. By way of thanks, we will also send you our new ebook "Bitcoin and math-based virtual currencies, Some initial thoughts...".

We're looking forward to sharing the results soon!

July 23, 2013

An Update on Glenbrook's Payments Education Courses - August 6-8, 2013

GP Logo Horizontal 140pxOur upcoming Payments Boot Camp in Half Moon Bay, California on August 6-7 is nearly full. If you're thinking about attending, please get your registration in quickly - you can register here. Click here to see the course description.

We're also leading a half-day session on August 8, also in Half Moon Bay, focused on Data in Payments - sign up for that session here.

More details on all of our payments education offerings - including our private payments workshops - can be found on our newly re-designed! Glenbrook's Allen Weinberg and Russ Jones are just back from a week in Shanghai leading one of our private workshops - we travel the world to serve payments professionals!

July 22, 2013

The Payments and Bitcoin Survey

PaymentsViews logo 140pxOn our blog, Glenbrook's George Peabody announces a new Payments and Bitcoin Survey he's conducting. He writes:

Until now, what we haven’t learned is what the payments industry thinks of all this. What do the many participants in payments – from entrepreneurs, bankers, and regulators to the complex mix of entities in between – have to say about the present and future of math-based currencies like Bitcoin.
Please join us by taking the survey here!

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