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Interchange Fees

Welcome to the News View for "Interchange Fees".

Here, on these archive pages, you'll find all of the articles on Payments News for Interchange Fees 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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June 30, 2016

Headline News from PaymentsNews.com - June 30, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

ON THE WIRES

  • Retailers Applaud Circuit Court Decision Rejecting Visa/MasterCard Settlement - "RILA enthusiastically welcomes the circuit court's decision to throw out this harmful settlement," said Deborah White, executive vice president and general counsel. "Quite simply, the settlement orchestrated by the card networks and banks would have undermined merchants' legal rights forever and would have allowed Visa and MasterCard to impose higher and higher swipe fees with impunity. Today's decision is a victory for all merchants and consumers."
  • IBM and Crédit Mutuel Arkéa Pioneer the Use of Blockchain to Manage Customer Identity and Improve Customer Satisfaction - "Blockchain is a transformative agent in our operational application, as proven by this project -- the first of its kind in France. This pilot offers a complete view of customers' documents across our distributed network," said Frédéric Laurent, COO Innovation & Operations, Crédit Mutuel Arkéa. "The project helped us to understand and master blockchain for other client uses. Now, we are ready to incorporate this technology in our ecosystem."
  • Number of debit cards reaches 100 million for first time - Richard Koch, Head of Policy at The UK Cards Association, said: “Since they were first launched in the UK in June 1987, debit cards have become a prime feature in the nation’s wallets. Now, almost 30 years later, more than half of all retail sales in the UK are made using a debit card. More recently, it has been the growth of contactless, as well as the increasing use of debit cards for online shopping, that has been driving the changes.”
  • Danish local and regional banks launch a mobile wallet powered by Nets - "We are excited to be the first in Denmark to announce our plans to deliver bank-issued mobile wallets from our members, providing a mobile payment solution that delivers real payment convenience to our customers. End users will be able to pay just by 'tapping' their phone at the contactless point-of-sale," comments Søren Nicolaisen, Managing Director, Danish Regional Bankers Association.
  • J.P. Morgan Announces In-Residence Program for Fintech Startups - “In-Residence presents a unique opportunity for talented, ambitious startups to be truly supported by J.P. Morgan’s global resources,” said Sanoke Viswanathan, Chief Administrative Officer of J.P. Morgan’s Corporate & Investment Bank. “By giving them unparalleled access to J.P. Morgan’s people and network, we hope to enhance their ability to create technology-led solutions that can be put into practical use for our industry.”
  • MGT Announces Initial Phase of Multi PetaHash Bitcoin and Blockchain Project - "The current pricing environment of bitcoin and other digital assets coupled with the release of new 16 nanometer ASIC chips provides a significant opportunity to generate excellent profit margins. "

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and 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.

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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!

June 27, 2016

Headline News from PaymentsNews.com - June 27, 2016

Headline News is brought to you by RS Software. To learn more about why RS Software is the choice for leading payments companies around the world, click here!

ON THE WEB

ON THE WIRES

  • MasterCard Commits to the Inclusion of 40 Million Micro and Small Merchants - “Real financial inclusion happens when people can use their new financial accounts to do what many of us take for granted,” said Ajay Banga, president and CEO of MasterCard. “Helping micro and small merchants connect to electronic payments will accelerate adoption and usage of new financial tools for the unbanked and will have a true impact on people’s daily lives.”
  • Wells Fargo to Offer Real-Time P2P Payments to 17 Million Mobile Customers - "Beginning August 1, Wells Fargo’s service will allow its customers to send funds in real-time at no cost to any customer of a bank that participates in the real-time service, which operates on Early Warning’s clearXchange™ network. Wells Fargo customers can already receive real-time payments at no cost from customers at any bank participating in the network."
  • New FIDO Certified Bluetooth Solution for Secure Mobile Internet Usage - " Infineon Technologies AG today announced the first FIDO-certified Bluetooth low energy (BLE) reference design for wireless authentication tokens. By using such a token in addition to their password, consumers can conveniently and securely authenticate their online activities on mobile devices."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and 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.

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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!

June 24, 2016

Headline News from PaymentsNews.com - June 24, 2016

Headline News is brought to you by RS Software. To learn more about why RS Software is the choice for leading payments companies around the world, click here!

ON THE WEB

  • Brexit: Possible Impacts on UK Consumer Payments - PSE Consulting - "Following Britain’s momentous decision to leave the European Union our thoughts must inevitably turn to the potential impact on UK consumer payments. In this blog we provide some early thoughts on how the UK market may be affected, beginning with recent European regulation which will have to be untangled."
  • Costco’s Transition to Visa Cards Riddled With Problems - New York Times - "A transition that executives promised would be seamless has turned into a customer service fiasco."
  • The DAO Shows Blockchain Can't Code Away Social Problems - CoinDesk - "Everyone loved The DAO. They couldn’t say enough about how it was going to change the future for the better. And now, after the code-based crowdfunding platform was exploited with a perpetrator taking 3.6 million ether (valued at $60m at the time), The DAO has become the red-headed stepchild of the cryptocurrency community."
  • Bank Regulators Aim at Online Small Business Lending - Wall St. Journal - "Leading marketplace lenders originated about $1.9 billion in small-business loans last year..."
  • 31 Chinese Firms Form Financial Blockchain Consortium - CoinDesk - "Chinese financial services firm Ping An Bank and a subsidiary of QQ instant message app maker Tencent are among more than 30 technology and financial firms in China that have formed a new consortium dedicated to blockchain tech."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and 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.

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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!

June 08, 2016

Headline News from PaymentsNews.com - June 8, 2016

ON THE WEB

  • Stripe en France - "Today, we’re happy to remove the beta label and to make Stripe available to tout le monde in France."
  • Amazon Plans $3 Billion Investment in India - Wall St. Journal - "The announcement brings Amazon’s total planned investment in India to $5 billion, since it announced a $2 billion infusion in 2014."
  • CurrentC beta test ending on June 28; further efforts postponed - iMore.com - "CurrentC, the Apple Pay competitor put forth by the MCX consortium, will soon end its beta test. Accounts will be closed on June 28, and all upcoming releases of CurrentC will be postponed indefinitely."
  • Here is the future of Apple Pay - ComputerWorld - "Apple’s Apple Pay plans reach far beyond what we know today. Apple will expand in multiple directions as it attempts to boost adoption of its service."
  • The Indian start-up that may sideswipe Apple Pay - CNBC - "While most competitors (including Apple) operate on the consumer side, he said Ezetap is single-minded. "Our job is to help bring merchants into the mobile internet world." "

ON THE WIRES

  • Singapore Payments Companies Selected for Wells Fargo Startup Accelerator - "“Regularly collaborating with startups on a wide range of technologies through the Startup Accelerator helps Wells Fargo explore big ideas outside our walls and industry for our customers’ benefit,” says Steve Ellis, head of Wells Fargo’s Innovation Group, which serves as the catalyst for transformational change across Wells Fargo. “We’re excited to invest in Alpha Payments Cloud and Jewel Paymentech through our Startup Accelerator."
  • NRF Says Overturning Dodd-Frank Would Reinstitute Price Fixing by Card Companies - “Protecting bank profit margins at the expense of competition is not sound public policy and it will harm merchants and consumers. The financial services industry attempted to get Congress to reject transparency and competition in 2010 and again in 2011. Both efforts failed. On behalf of retailers and their customers, NRF will fight for free and open markets.”
  • More Americans Turning to Payroll Cards – Here’s Why - “Not only do employers save money by cutting the administrative costs associated with distributing paper checks, but employees also save time and money by promptly receiving their wages on pay day and avoiding check cashing fees."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and 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!

December 14, 2015

Headline News from PaymentsNews.com - December 14, 2015

On the Web

  • Interchange Regulation Comes to Europe - PaymentsViews.com (George Peabody) - "Interchange galvanizes the attention of regulators around the world like iron filings to a magnet. Everyone in card payments watches their moves closely because of its economic impact on merchants, card networks, issuers, acquirers and, in theory, consumer pricing. European regulators are among the most recent to weigh in."
  • Former Wall St titans shake-up banking with fintech investments - FT.com - "They made their name on Wall Street. Now, they are trying to disrupt it."
  • Blockchain Startup Digital Asset Hires SWIFT and SunGard Veterans - CoinDesk - "“With more than 50 years of combined experience in the financial and technology sectors, Cris and Chris have a deep understanding not only of the marketplace, but of what we are building and they will be invaluable to our continued growth," Digital Asset CEO Blythe Masters said in a statement.

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!

September 30, 2015

Headline News from PaymentsNews.com - September 30, 2015

It's Time to Register! Upcoming Payments Boot Camps!

  • Glenbrook's fall season of payments education kicks off in October with two sessions of our Payments Boot Camp - one in the San Francisco Bay Area on October 13-14 and the other in New York City on October 20-21. Glenbrook's Russ Jones is now leading this important payments education curriculum - he'd love to meet you at one of these sessions. Contact Russ directly if you have any questions.

On the Web

  • My Half Life in Payments - PaymentsViews.com (Scott Loftesness) - "...it dawned on me that 2015 was my 30th anniversary year in the payments industry."

On the Wires

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 28, 2015

Headline News from PaymentsNews.com - September 28, 2015

It's Time to Register! Upcoming Payments Boot Camps

  • Glenbrook's fall season of payments education kicks off in October with two sessions of our Payments Boot Camp - one in the San Francisco Bay Area on October 13-14 and the other in New York City on October 20-21. Glenbrook's Russ Jones is now leading this important payments education curriculum - he'd love to meet you at one of these sessions. Contact Russ directly if you have any questions.

On the Web

  • The eGovernment – ePayment Conundrum - PaymentsViews.com (Erin McCune) - "As we work with governments to build their electronic payment strategies we sometimes need to temper their expectations given this all-too-familiar challenge. There have to be enough digitally delivered government services to warrant digital payment infrastructure, but you also need scalable, robust digital payments to support digital delivery of government services. At Glenbrook we’ve started calling this the “eGovernment-ePayment Conundrum” – and only partly in jest."
  • Banks: Card Breach at Hilton Hotel Properties - Krebs on Security - "Multiple sources in the banking industry say they have traced a pattern of credit card fraud that suggests hackers have compromised point-of-sale registers in gift shops and restaurants at a large number of Hilton Hotel and franchise properties across the United States. Hilton says it is investigating the claims."
  • Interchange Evidence? - Credit Slips (Adam Levitin) - "The very weird survey response on surcharging and discounting makes me wonder about the overall representativeness and reliability of the survey."
  • With Bitcoin's Price Down, VCs Turning to Blockchain Technology - CoinDesk - "The rising interest in use cases for bitcoin's underlying distributed ledger, the blockchain, is influencing the investment strategies of venture capitalists..."

On the Wires

  • Samsung’s Groundbreaking Mobile Payment Service – Samsung Pay – Available Starting Today in the United States - “Samsung Pay works with almost any card terminal from day one and Galaxy owners can shop with a wallet they never knew was always in their hands,” said Injong Rhee, EVP of Samsung Electronics, Global Head of Samsung Pay. “As the leader in innovation, Samsung is proud to introduce the first mobile payment solution that allows you to pay almost anywhere you can swipe or tap your card today.” - To participate initially, consumers need to have a participating MasterCard, Visa or American Express card issued by Bank of America, Citi, American Express or U.S. Bank. Samsung Pay also offers merchant credit cards through its relationship with Synchrony Financial...
  • U.S. Bank and Elavon Bring More Mobile Payment Choices to Customers with Samsung Pay - “Being one of the first to offer our cardmembers and merchant customers Samsung Pay is a great example of our focus on our customers,” said Dominic Venturo, chief innovation officer at U.S. Bank. “This is an important step in the continuing evolution of payments and consistent with providing our customers the convenience of doing business with us how, when and where they want."
  • Synchrony Financial Takes the Lead in Enabling Private Label Credit Card Benefits for Samsung Pay - “Today’s announcement further highlights Synchrony Financial’s leadership in mobile payments technology,” said Margaret Keane, president and CEO of Synchrony Financial. “Through our innovation and strategic partnerships, we are helping shape the future of how private label credit cards work in mobile wallets. We are proud to offer our merchant partners and their customers the value and benefits of our private label credit cards in Samsung Pay’s secure, simple and widely accepted mobile wallet.”
  • First Data Strengthens Digital Wallet Leadership with Support of Samsung Pay - “First Data continues to lead the way in enabling mobile commerce globally,” said Barry McCarthy, Executive Vice President and Head of Network and Security Solutions at First Data. “With the launch of Samsung Pay, we are extending our innovative technology to ensure that, as consumers increasingly move to digital payments, First Data can enable any card in any digital wallet.”
  • ACI Worldwide Helps Define and Drive Industry Standards for Real-Time Payments - "The Scheme Management Board (SMB) of the European Payments Council (EPC) has recently invited ACI’s Barry Kislingbury, lead solution consultant, to participate in the EPC Scheme Technical Forum (ESTF). With the introduction of numerous international real-time, immediate payments initiatives, the focus on the formats used to process such messages has become critical—particularly within Europe."
  • UK Alternative Finance Market for Businesses Projected to Reach £10 Billion by 2020 Says Fiserv Research - Travers Clarke-Walker, Chief Marketing Officer, International Group, Fiserv said, “Our research suggests that improved and user-friendly technology is impelling the growth of alternative finance in the U.K. We have seen the P2B and crowd-funding sectors engaging in a concerted marketing push, which is likely to raise awareness significantly. The buzz around alternative finance for SMEs is giving alternative financers legitimacy and encouraging SMEs to try these alternative funding options.”

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 03, 2015

Headline News from PaymentsNews.com - September 3, 2015

On the Web:

  • Credit-Card Fraudsters Pump Gas Stations for Profit - Wall St. Journal - "The crime wave has been driven by the flood of stolen credit-card data easily accessible online, much of which was swiped in high-profile breaches."
  • Cashback cull: Tesco halves Clubcard points for 2.8m credit card holders - The Telegraph - "Millions of Tesco credit card holders will see their cash earnings halved overnight as a result of new European laws that have forced several high street lenders to withdraw cashback deals."
  • Small Businesses Are Slow to Embrace New Chip-Card System - Wall St. Journal - "Many small businesses aren’t switching, mainly because they don’t know about the shift or don’t see any payoff from the new systems, which are slightly slower."
  • 4 trends in fintech startups - O'Reilly Radar - "It’s hard for incumbents to innovate existing businesses in house, and this is where startups thrive: testing new business models and pushing the limits of technology unencumbered by regulations or corporate baggage. Hackathons and startup competitions are where innovative ideas are tested."

On the Wires:

  • MasterCard Start Path to Build the Future of Commerce with Startups - “Start Path thoughtfully connects the right partners with the right startups to build the future of commerce together,” said Stephane Wyper, Global Lead of MasterCard Start Path. “And now with our global expansion, we will be able to target a broader range of startups and help them achieve success."
  • FLEETCOR Announces New Executive Appointments to its Comdata Business Units - “We’re delighted to welcome Greg and Kurt to the Comdata and FLEETCOR management team,” said Ron Clarke, Chairman and CEO of FLEETCOR. “Each brings successful general management experience to their new roles. We expect these executive additions will help accelerate the implementation of our Comdata growth plans.”

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!

August 18, 2015

Headline News from PaymentsNews.com - August 18, 2015

On the Web:

On the Wires:

  • Richmond Fed's Economic Quarterly Looks at Durbin Amendment Impact on Merchants - "Based on a survey conducted two years after the regulation went into effect in 2011, Richmond Fed economist Zhu Wang and his co-authors Scarlett Schwartz and Neil Mitchell investigate the impact of the regulation on the costs to merchants of accepting debit cards. They also examine merchant reactions to the regulation in terms of changing prices and debit card restrictions. The survey results suggest that the regulation has had limited and unequal impact on merchants' debit-acceptance costs."
  • Pay Anyone From Your Wrist - "The latest Square Cash release affords anyone the ability to quickly send a payment to friends, family, or anyone nearby conveniently from their Apple Watch. Beginning today, anyone can access the app on their Apple Watch by downloading the latest Square Cash app for iOS."
  • Visa and QIWI Announce the Mass Launch of Contactless Smartphone Payments - "QIWI and Visa Inc. have announced implementation of a new stage of their strategic partnership, which has resulted in integration of Visa payWave's contactless technology into Visa QIWI Wallet."
  • Star Wars Comes to Chase Disney Visa Credit Cards - "Marking the first Star Wars brand collaboration for a credit card for The Walt Disney Company, Chase Card Services and Disney, are putting The Force in Cardmembers’ wallets with the introduction of three exclusive Star Wars designs to the Disney Visa Credit Card family, accompanied by exciting, new and exclusive Star Wars perks for all Disney Visa Credit Cardmembers."
  • First Tech Federal Credit Union and MasterCard Announce First U.S. Biometric Payments Pilot - "The pilot will test the potential of delivering greater security and convenience to First Tech’s U.S. cardholders by verifying identity via facial photographs or fingerprint scans conducted on smartphones."
  • Capital Prepaid Offers Mobile Check Cashing to BlazePaysSM Visa® Prepaid Cardholders - "Our goal is to make the BlazePays Card the most convenient and economical payment tool for consumers," said Jay Kurian, President of Capital Prepaid. "With mobile check cashing, consumers can now load funds to a BlazePays Card regardless of where they reside in the U.S."

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!

July 29, 2015

Headline News from PaymentsNews.com - July 29, 2015

On the Web:

On the Wires:

  • TD Bank and MasterCard Partner to Drive Innovative Payment Solutions - "TD Bank ... announced an agreement with global payments technology company MasterCard to route debit and prepaid card transactions over MasterCard’s Maestro network. Through the agreement, MasterCard will process TD Bank’s debit card and prepaid card PIN transactions."
  • How America Pays in 2015 - “Consumers still have a strong preference for traditional payment methods like debit cards and prepaid cards. Those payments tools are not going away anytime soon, even as interest in and usage of new payment methods grows,” said Teri Llach, chief marketing officer at Blackhawk Network, a pioneer of prepaid gift cards, payments tools and rewards delivered via a robust and convenient network. “Our findings prove that payments is not either/or when it comes to legacy payments versus emerging products; it’s really about convenience and providing a mix of options.”
  • MasterCard Incorporated Reports Second-Quarter 2015 Financial Results - “Our business continues to perform well with good transaction and volume growth, particularly in cross-border, despite the mixed global economic environment and foreign exchange headwinds,” said Ajay Banga, president and CEO, MasterCard. “We are executing on our strategy to grow our business by focusing on winning new deals in our core payments business, while building out our data analytics, processing and safety applications. A blend of acquisitions and organic investments in these spaces remain at the foundation of our strategy.”
  • TSYS Reports Second Quarter Adjusted EPS Grew 29.0% - “For the second quarter in a row, we exceeded our expectations that resulted in another outstanding quarter and year-to-date performance. Organic revenue grew 13.7% year-to-date as we continue to deliver exceptional performance across our key metrics,” said M. Troy Woods, chairman, president and chief executive officer of TSYS.
  • Planes, Trains, and Cruises All Now Easier to Purchase Online as MasterPass Expands Travel Industry Acceptance - “Travel merchants are increasingly looking to drive efficiencies in the online booking process,” said Vib Prasad, Group Head of MasterPass at MasterCard. “MasterPass can provide a seamless checkout experience while delivering the security our cardholders have come to expect when using a MasterCard, so they can focus on enjoying their time away.”
  • AcceptEmail and PayWithMyBank® Partner to Bring Consumers Heightened Convenience in Bill Payments while Cutting Down on Billing Costs - “This is the best of both worlds,” said AcceptEmail CEO Peter Kwakernaak. “Billers who take advantage of the combination of AcceptEmail and PayWithMyBank need not make adjustments to their systems, website or Apps in order to get VerifiedACH with real-time confirmations. They will reap substantial savings too. ACH is far less expensive to transact than credit card payments, which often take a percentage of the invoice amount.”

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!

July 28, 2015

Headline News from PaymentsNews.com - July 28, 2015

On the Web:

  • Stripe, Digital Payments Start-Up, Raises New Funding and Partners With Visa - New York Times - "On Tuesday Stripe also announced a partnership with Visa, one of the world’s largest credit card companies, in which the two will work on ways to improve digital transactions. The companies said they expected to collaborate on initiatives like payments security, as well as software like website “buy buttons.”"
  • Lawyer Emails Put Visa, MasterCard Settlement at Risk - Wall St. Journal - "Lawyers representing roughly 100 big merchants, including Wal-Mart Stores Inc., Home Depot Inc., and 7-Eleven Inc., are expected on Tuesday to formally notify the card networks that they will seek to unravel the three-year-old pact..."
  • UK Interchange fee regulation: a consultation - HM Treasury - "This consultation invites views on the government’s proposed steps to meet the UK’s obligation to put in place an adequate and efficient regulatory regime to supervise compliance with the ‘Interchange Fee Regulation’ (IFR)."
  • UK: Rules proposed to tackle ‘unfair’ credit and debit card fees - FT.com - "A government consultation launched on Monday proposes rules to limit so-called interchange fees charged to a business when a customer pays using a card."
  • UK: Cap on card fees could lead to lower prices for consumers - Guardian - "In a consultation document, the Treasury said: “The government is clear that merchants are expected to pass these savings on to consumers in the form of lower prices.”
  • Wells Fargo Joins Other Banks in Testing Mobile Biometrics - "The bank’s mobile development efforts include testing an intelligent assistant, akin to Apple Inc.’s Siri, that enables consumers to conduct their banking by speaking commands into the phone, says Steve Ellis, head of Wells Fargo’s new Innovation Group."
  • The Truth About the Death of Cash - BBC - "Cash is essentially untraceable, it’s easy to carry, it’s widely accepted and it’s reliable. If the power goes out, or there’s a blip in the electronic systems that make the online commerce world go round, cash is there."
  • 8 Banking Giants Embracing Bitcoin and Blockchain Tech - CoinDesk - "While major institutions found that bitcoin was perhaps problematic as a currency, they seem to increasingly believe that the blockchain, the protocol that manages and facilitates the exchange of bitcoin, offers benefits over their closed database systems."

On the Wires:

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!

July 21, 2015

Headline News from PaymentsNews.com - July 21, 2015

On the Web:

  • Payments on Fire Podcast #23 – Ethoca and the Power of Data Collaboration - PaymentsViews.com - "That’s what Ethoca is about. Its growing network of merchants and issuers share their fraud data to improve fraud detection and lower chargeback rates. Take a listen to this discussion with Keith Briscoe, Ethoca’s CMO, on what’s possible through collaboration."
  • Time to democratize the banking system - CNBC - PayPal CEO Dan Schulman: "Not long ago, I spent a week using only what the banking industry calls "alternative financial services," relying on check-cashing offices and wire-transfer companies to support my daily finances. The results were deeply dispiriting. Accessing my own money became a part-time job, and the price of each transaction meant my checks yielded less than their value and my bills cost more than they should have."
  • First Data I.P.O. Is Likely to Be One of Year’s Largest - New York Times - "Renaissance Capital on Monday estimated that the company could raise $5 billion or more. First Data said it planned to use proceeds from the stock sale to repay some of its roughly $20 billion in long-term debt."
  • Gates Foundation's Kosta Peric on Blockchain Tech and the Unbanked - CoinDesk - “The very powerful thing about bitcoin in general and specially the technologies behind it, is they are essentially leapfrogging all the technology and providing a new system for processing these huge amounts of transactions for very small costs.”

On the Wires:

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!

July 09, 2015

Headline News from PaymentsNews.com - July 9, 2015

On the Web:

On the Wires:

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!

June 25, 2015

Headline News from PaymentsNews.com - June 25, 2015

On the Web:

  • The sale of Visa Europe: a potential setback for merchants in the fight against fees - Treasury Insider - "The news that Visa Inc. is in discussions to purchase its former subsidiary Visa Europe in a possible US$20 billion deal certainly falls into this category – and should be a major concern for European merchants."
  • Suspect in $55 Million A.T.M. Scheme Is Extradited to U.S. - New York Times - "Prosecutors said that hackers including Mr. Findikoglu wormed their way into the computer systems of financial institutions that process prepaid debit cards. Next, they said, the hackers significantly raised the withdrawal limits normally set for the cards, which are often used to pay employees or aid disaster victims."
  • Go New Places with PayPal and Uber - PayPal Forward Blog - "PayPal is now available as a payment option to Uber riders in Canada, Greece, Hong Kong, Israel, Mexico, New Zealand, Singapore, Switzerland and Sweden."
  • HDFC’s PayZapp, India’s First Apple Pay Feature, Enters Mobile Payments - MF Monitor - "Being introduced by the largest private bank, PayZapp, on the back of ApplePay, may emerge as a game changer, as it eliminates the various intervening steps required to pass a mobile transaction, following RBI norms of two-factor authentication."
  • Before paying with bitcoins… - Federal Trade Commission Consumer Information Blog - "In fact, the FTC has received hundreds of complaints involving bitcoins and other virtual currencies. The two most common problems? Online merchants who don’t deliver the product on time — or at all — and merchants who give refunds in store credit, rather than currency."

On the Wires:

  • Organization Announcement: American Express - "With that in mind, today I am announcing the realignment of several businesses and reporting lines in a way that leverages the strengths of our executive team to help us build momentum and capitalize on the growth opportunities we have across the company."
  • FICO Sees 25 Percent Jump in Cross-Border Fraud on UK Debit Cards in 2014 - "Criminals are now opting for card-not-present and cross-border fraud," said Martin Warwick, FICO's fraud chief in Europe, the Middle East and Africa. "The alarming rise in cross-border fraud demands new technology, such as proximity location services that can identify whether the customer's mobile is in the same place where the transaction is occurring. The UK reduced cross-border card fraud from £230 million in 2008 down to £80 million in 2011. But cross-border fraud has nearly doubled since then, and it's time to get it back under control."
  • The Nilson Report: U.S. Household and Credit Card Debt 2014 - "Total household debt in the U.S. was $13.512 trillion at the end of 2014 and credit cards accounted for 6.52% or $881.57 billion, according to the annual report on credit card debt in the U.S. published by The Nilson Report, the top trade newsletter covering the card and mobile payment industries."
  • Auth0 Raises Series A Led By Bessemer to Take the Pain Out of Identity Security - “It’s now painfully obvious that insecure or incomplete authentication implementations are creating vulnerabilities, jeopardizing customer trust, and hindering enterprise adoption of cloud and mobile services,” observed VeriSign co-founder David Cowan, a partner at BVP. “So Bessemer is thrilled to partner with the best identity team in the world to deliver secure login as a service — as easy to use as Twilio, SendGrid and Stripe.”
  • Seamless Distribution AB: SEQR now live in the UK - “Launching SEQR in the US and the UK has been a top priority for us at Seamless. By offering a smart, adaptable mobile payment service, we’ve been able to attract some of the biggest operators in the market. Now that we’re starting to work with merchants and consumers, we’re creating the right conditions to be able to establish ourselves as the biggest mobile payments provider in the UK as well, a market with around 60 million potential customers,” says Peter Fredell, CEO of Seamless.

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!

June 22, 2015

Headline News from PaymentsNews.com - June 22, 2015

On the Web:

On the Wires:

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!

May 22, 2015

Headline News from PaymentsNews.com - May 22, 2015

On the Web:

  • Target Settlement With MasterCard Fails to Get Bank Support - AP - "MasterCard Inc. says that not enough issuers approved the deal and that it's still working to resolve the matter."
  • Data Encryption In The Cloud: Square Pegs In Round Holes - Dark Reading - "This is where a line of research I’ve been pursuing, together with a number of fantastic colleagues, comes in. Back in 2009, we flipped the problem around. Forget about square pegs, and change encryption to be a primitive that allows easy specification of the target format — the ciphertexts produced by encryption should come out already formatted in the right “shape.” We called this “format-preserving encryption” (FPE), a name first coined by Terence Spies of HP (formerly Voltage Security)."
  • Pantera Capital’s Dan Morehead on the Future of Bitcoin - StrictlyVC - "I think most of Wall Street realizes that the systems that move money are incredibly antiquated and incredibly inefficient. Most of them were designed in the 1950s. The main thing for wiring money – SWIFT – is basically sending messages and it’s very primitive and can be disrupted by Bitcoin very easily, and most banks would like to see that happen."
  • Bitcoin - The Miner's Dilemma - Published by the Swift Institute - "Authored by Ittay Eyal (Cornell University), this paper focuses on Bitcoin mining pools, an essential part of the bitcoin ecosystem. Mining pools enable small miners to operate with a reasonable business risk. However, when these pools grow too big, they pose a great danger to the entire bitcoin system. The research demonstrates, using The Miner’s Dilemma as a variation of The Prisoner’s Dilemma in game theory, that the current unstable state of the Bitcoin ecosystem can be rectified using a technique called pool block withholding, which in time would make the large public pools unprofitable and therefore encourage miner’s to gravitate to smaller private pools which are more stable. This evolution to smaller pools would stabilise the overall Bitcoin ecosystem."

On the Wires:

  • UK Payments Council: Cash overtaken by ‘non-cash’ payments in 2014 - "Figures published today (21 May) show that the total number of cash payments made by consumers, businesses and financial organisations in the UK fell to 48% last year (from 52% in 2013). This is the first time that ‘non-cash’ payments have exceeded those made with cash, reflecting the steady trend to use automated payment methods and debit cards rather than pay by notes and coins. However, cash remains the most popular payment method by volume, followed by the debit card, which accounted for 24% of all payments last year."
  • High Credit Card Fees Put a Dent in Car Tune-ups for Memorial Day Trips - "In the U.S. swipe fees– the fees that merchants pay every time a customer uses a debit or credit card – are higher than in any other country. These fees are merchants’ fastest-growing cost and their second-highest operating expense – only labor is more. Banks and credit card companies are price-fixing swipe fees and marking them up to make huge profits."

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!

March 10, 2015

Headline News from PaymentsNews.com - March 10, 2015

On the Web:

  • Now What? Immediate Funds Transfer in the U.S. - PaymentsViews.com (Elizabeth McQuerry) - "How can all these systems be stitched together? Who writes the rules? Where does this leave Same Day ACH? Those are just the first set of questions. There are plenty of others..."
  • EU Interchange Legislation Sets Course for New Beginnings - MasterCard Beyond the Transaction Blog - "A long and interesting legislative process comes closer to an end this week with the European Parliament formally adopting a new EU Regulation on interchange fees. At MasterCard we believe that, just as in life, from every end comes a new beginning. This case is no different."
  • Boston calls a snow day on spending - First Data Corp. - "This First Data SpendTrend report examines the economic effect these snow storms have had on Boston and the New England region between January 24 and February 22, 2015."
  • PayPal Establishes New Security Center - PayPal Forward Blog - "To help jumpstart our security center, I’m also thrilled to announce that we’ve acquired CyActive, a cybersecurity firm that specializes in technology that can predict how malware will develop. The acquisition of CyActive will bring great talent and immediately add “future-proof” technology to PayPal’s world-class security platform."
  • Heartland Payment Systems Collaborates with BitPay - BitPay Blog - "Now Heartland is referring their customers to BitPay’s payment platform. We are helping Heartland bring bitcoin payment technology to businesses and organizations that are interested in new payment methods."
  • Secretive Bitcoin Startup 21 Reveals Record Funds, Hints at Mass Consumer Play - Wall St. Journal - "What it’s not yet publicizing is the precise nature of its operations, Chief Executive and co-founder Matthew Pauker will only say there will be “several interesting developments over the next weeks and months”..."
  • Why We Started Abra - RRE Ventures - "To make digital currency useful to “cash consumers” digital currency should: be transferable to any phone number in the world, not represent exchange rate risk, be as private as real cash, have no costs for money transfer, and be fungible to real paper-cash at very low cost 24 hours a day, 7 days a week."
  • Updates to Venmo Account Notifications - Venmo Blog - "Today, we wanted to share a few updates we’ve made to Venmo account notifications, as well as make you aware of some additional product updates we’ll be releasing soon."
  • Marriott hotels to start accepting Apple Pay this summer - Engadget - "To check in, you'll only need to go to the contactless reader at the front desk and hold up your phone (or Apple Watch) to pay -- a beep and a vibration will indicate if the transaction's a success."

On the Wires:

  • GameStop Now Accepting Apple Pay in Stores - "GameStop is launching a nationwide rollout of Apple Pay, which transforms mobile payments with an easy, secure and private way to pay to its more than 4,200 U.S. video game stores this month."
  • Citi to Launch Banking App for Apple Watch - “At Citi, we believe that banking should be simple and convenient, and we are constantly exploring advances in technology to help us deliver that kind of experience,” said Heather Cox, Chief Client Experience, Digital and Marketing Officer for Global Consumer Banking at Citi. “Apple Watch users will have access to all sorts of information and services, and if our customers want to check their balance or view a seconds-ago transaction right on their wrist, it is our job to make sure they can.”
  • Financial Institutions Can Launch EMV™ Chip Cards More Quickly and Less Expensively with New Solution from Fiserv - "Fiserv is helping its clients simplify the transition to EMV chip-enabled cards by offering an integrated, compliant and cost effective path to EMV debit and credit card issuance. Fiserv has worked with Visa and MasterCard to develop standard EMV chip card configurations suitable for most debit and credit card programs. These standards comply with Visa and MasterCard requirements for the U.S. market."
  • TGI Fridays Extends Use of Verifone’s Payment as a Service for ‘Pay at the Table’ - We pride ourselves on giving guests the best experience possible, particularly when interacting with our team,” said Jeremy Dunderdale, Head of IT at TGI Fridays UK. “Verifone understands our business needs, and its NFC-capable terminals combined with Verifone’s all-in-one service package provides a secure solution that solves our payments challenges while enabling us to accept payments from guests right at the table.”
  • Bill.com Expands Leadership Team with Key Hire to Support Nationwide Adoption of Digital Business Payments - "Bill.com, the leading company creating magically simple business payments, today announced that it has hired Colleen Lindow as vice president of payments, risk and compliance."

Glenbrook's 2015 Payments Education Schedule Now Available!

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 21, 2015

Headline News from PaymentsNews.com - May 22, 2015

On the Web:

  • Data Encryption In The Cloud: Square Pegs In Round Holes - Dark Reading - "Back in 2009, we flipped the problem around. Forget about square pegs, and change encryption to be a primitive that allows easy specification of the target format — the ciphertexts produced by encryption should come out already formatted in the right “shape.” We called this “format-preserving encryption” (FPE), a name first coined by Terence Spies of HP (formerly Voltage Security)."

On the Wires:

  • High Credit Card Fees Put a Dent in Car Tune-ups for Memorial Day Trips - "In the U.S. swipe fees– the fees that merchants pay every time a customer uses a debit or credit card – are higher than in any other country. These fees are merchants’ fastest-growing cost and their second-highest operating expense – only labor is more. Banks and credit card companies are price-fixing swipe fees and marking them up to make huge profits."

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!

January 29, 2015

Headline News from PaymentsNews.com - January 29, 2015

On the Web:

  • Can RBC’s digital wallet beat Apple? - Globe and Mail - "The system doesn’t require the bank to share vital and valuable customer data with retailers, phone manufacturers or wireless service providers. RBC considers it to be a world-beating new technology, one that will make the bank a global player in the processing of mobile payments."
  • India Banking: Downwardly mobile - Economist - "The scheme’s initial goal has been surpassed: 120m accounts have been opened. Arun Jaitley, the finance minister, has claimed that almost every household in India now has access to banking."
  • With a Few Bits of Data, Researchers Identify ‘Anonymous’ People - New York Times - "In the study, titled “Unique in the Shopping Mall: On the Reidentifiability of Credit Card Metadata,” a group of data scientists analyzed credit card transactions made by 1.1 million people in 10,000 stores over a three-month period."
  • Now available in the UK: Send and request money right from Gmail - Google Commerce Blog - "Since we announced Send Money in Gmail, paying back your friends has never been so simple, whether you’re chipping in for lunch or reimbursing your housemate for your share of the rent. Today, we're excited to make this feature available for Gmail users in the UK."
  • The debit card fee driving US banks crazy – and costing consumers more than they realize - Guardian - "Here’s the problem, which most of us can relate to: banks love fees. But banks can’t levy a fee that isn’t “reasonable and proportional” to the cost of processing the transaction. That’s the rule under the terms of the Durbin amendment, which is part of the Dodd-Frank package of Wall Street banking reforms."
  • Retailers must embrace in-store pickup - Mobile Commerce Daily (John Pincott) - "Research by PricewaterhouseCoopers and AT Kearney shows that 80 percent of customers research their purchases online, but 75 percent of consumers still prefer to buy products in a physical store."

On the Wires:

  • Visa Europe: Record spend, transaction volume and e-commerce levels as revenues rise in 2014 - "Gross revenues grew 9% year-on-year to €1.9 billion while profits of €344 million were €80m higher than last year. This enables Visa Europe to invest more than €200 million in new payments technologies to accelerate the growth of digital payments."
  • PULSE Introduces New Brand Identity to Support Expanded Payments Solutions - “PULSE and the debit landscape have both changed considerably in recent years, and it was time for our brand identity to reflect those changes,” said PULSE President Dave Schneider. “At the same time, millions of cardholders know to look for the familiar PULSE logo at the point of sale and on ATMs, so our new look builds upon our existing strong brand equity.”
  • BitGo Launches Platform API to Secure and Scale the Next Generation of Bitcoin Businesses - “The BitGo Platform API can help businesses, both large and small, focus their development resources on core competencies and product differentiation while security is managed by the specialists. Now is the opportunity to create a bitcoin ecosystem free from hacks that plagued the industry over the last few years.”
  • VantageScore Solutions Announces Major Strides in Market Adoption - “With this surge in market adoption, the consumer finance industry, including the largest banks in the country, clearly have voted for choice in the marketplace and are taking advantage of the transformative differentiators offered by the VantageScore model,” said Barrett Burns, president and CEO of VantageScore Solutions.

Glenbrook's 2015 Payments Education Schedule Now Available!

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 23, 2015

Headline News from PaymentsNews.com - January 23, 2015

On the Web:

  • Bitcoin and the Digital-Currency Revolution - Wall St. Journal - "No digital currency will soon dislodge the dollar, but bitcoin is much more than a currency. It is a radically new, decentralized system for managing the way societies exchange value."
  • Winklevoss Twins Aim to Take Bitcoin Mainstream - New York Times - "The exchange, which the twins have financed themselves, is a risky bet, given that the virtual currency industry has been a target of hackers and has faced existential questions about its legitimacy."

On the Wires:

Glenbrook's 2015 Payments Education Schedule Now Available!

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 13, 2015

Headline News from PaymentsNews.com - January 13, 2015

On the Web:

  • Toward Better Privacy, Data Breach Laws - Krebs on Security - "President Obama on Monday outlined a proposal that would require companies to inform their customers of a data breach within 30 days of discovering their information has been hacked. But depending on what is put in and left out of any implementing legislation, the effort could well lead to more voluminous but less useful disclosure."
  • Stanford to host White House Summit on Cybersecurity and Consumer Protection - Stanford News - "The White House announced Tuesday that it will host a Summit on Cybersecurity and Consumer Protection at Stanford on Feb. 13, convening major stakeholders to help shape public and private sector efforts to protect consumers and companies from growing network threats."

On the Wires:

  • Gujarat State Government and MasterCard sign Memorandum of Understanding to Accelerate Electronic Payments - “This MOU represents a joint effort to drive innovation and development of electronic payments in Gujarat, in line with the State Government’s goal to make Gujarat the first digital payments state in India. MasterCard will leverage its global expertise to deliver new innovations and the right payment systems, and we are looking forward to seeing fruitful results from this collaboration,” said Ari Sarker, Division President, South Asia & Country Corporate Officer, India at MasterCard.
  • First Data and UL Collaborate to Simplify EMV™ Adoption for Retailers - “Coupled with a multi-layered security program that includes tokens and encryption, EMV adoption will greatly reduce the threat of fraudulent payments at the point of sale, but the implementation can be complex and burdensome. We believe this collaboration with UL will help to simplify the process a merchant must complete to certify compliance with EMV standards.”
  • Elavon Joins Verizon Partner Program - “This powerful combination makes the era of Big Data accessible and relevant for small businesses,” said Elavon’s President of North America Guy Harris. “By building in robust customer loyalty and security features more commonly found in high-end POS options, this user-friendly solution enables SMBs to serve their customers better while providing business insights to help them compete more effectively.”
  • Intuit Launches QuickBooks Online Self-Employed to Serve Freelancers, Independent Contractors - “As the on-demand economy continues to expand, there will be unprecedented income opportunities for freelancers. But this work comes with a host of new challenges: co-mingled and confusing business expenses, quarterly and year-end tax headaches, and a general lack of visibility into their ‘real income’,” said Alex Chriss, vice president and general manager of Self-Employed Solutions at Intuit.
  • TSYS Releases Insights on Payment Preferences of Business Travelers and Travel Administrators - “One surprising finding is that despite high satisfaction with corporate travel card programs among both business travelers and travel administrators, personal card usage among business travelers remains high,” said author Christina Hall, senior product development manager, TSYS Commercial Services. “Additionally, the technologies that business travelers use in their personal banking and credit card relationships greatly influence expectations for their corporate credit cards.”
  • Fitch: AmEx, Discover Can Manage EU Card Interchange Fee Caps - "Fitch believes increased regulation could have some unintended consequences. For example, card members could face higher fees and/or reduced benefits as banks re-assess these programs and seek to maintain appropriate profitability targets. Fitch believes these could potentially take the form of annual membership fees, account maintenance or other fees and/or more limited rewards."

Glenbrook's 2015 Payments Education Schedule Now Available!

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 19, 2014

Headline News from PaymentsNews.com - December 19, 2014

On the Web:

  • Securing the Future of Payments: A Special Report from the Payments Security Task Force - Visa/MasterCard - "This week in the U.S., the Payments Security Task Force introduced a white paper that looks at three of the most significant technologies – chip, tokenization and encryption – developed to protect card information and make it useless if stolen." Download White Paper Here
  • Starbucks To Square: It's Over - ReadWrite - "Starbucks is not adopting Square Order in our stores," says Maggie Jantzen, a spokesperson for Starbucks. "We opted to build our own mobile ordering solution, leveraging our own mobile app and world-class loyalty program."
  • New York Regulator Outlines Changes to Bitcoin Rules - New York Times - "Although far from sweeping, the revised rules will address or eliminate many of the aspects that opponents had criticized for being vague or strict, including the types of companies that would be subject to the rules, Mr. Lawsky said in keynote remarks at the Bipartisan Policy Center in Washington."
  • Mobile NFC payments to exceed $130B by 2020: report - Mobile Commerce Daily - “The launch of Apple Pay will focus the minds of operators and competitors like Google Wallet, who have NFC-based payment offerings for longer, but have not really communicated or marketed it well to their customers.”
  • Mobile’s Rise Poses a Riddle for Banks - Wall St. Journal - "This year, for the first time, U.S. customers interacted with their banks more through mobile devices than any other means, according to a new study by consultancy Bain & Co. Mobile interactions are now 35% of the total, more than any other type, including traditional online channels, automated-teller machines and branch visits, the report showed."
  • Open APIs Hold the Key to the Future of Banking - Programmable Web - "One of the pillars of BBVA’s digital strategy is identifying and mobilizing “innovation stakeholders” from both within and outside BBVA. Through an open innovation framework, BBVA is building an open ecosystem that includes entrepreneurs, developers, students, customers and employees collaborating to create new value for both the community and BBVA in the new digital paradigm."
  • RBC first bank in North America with Host Card Emulation - "We are committed to providing our clients with the most innovative, convenient and secure solutions to pay how they want, when they want - HCE is a critical step," said Linda Mantia , Executive Vice-President of Digital, Payments and Cards, RBC. "HCE makes RBC Secure Cloud mobile payments even easier to use."
  • German researchers discover a flaw that could let anyone listen to your cell calls - Washington Post - "Experts say it’s increasingly clear that SS7, first designed in the 1980s, is riddled with serious vulnerabilities that undermine the privacy of the world’s billions of cellular customers."
  • Clustering bitcoin accounts using heuristics - O'Reilly Radar - “It turns out in reality, though, the way most users and services are using bitcoin, was really not following any of the guidelines that you would need to follow in order to achieve this notion of pseudo-anonymity. So, basically, what we were able to do is develop certain heuristics for clustering together different public keys, or different pseudonyms."

On the Wires:

  • Huntington Bank to Offer Apple Pay to Customers - “We are delighted to soon offer our customers the option of Apple Pay,” said Mark Sheehan, executive vice president and payments and channels director at Huntington. “Apple Pay is another in a series of initiatives Huntington has undertaken to make banking easier, along with rolling out mobile deposit and Quick Balance, which allows customers to use their phones or tablets to find their balances fast. Huntington is excited about what the future holds and looks forward to bringing this technology to our customers.”
  • The European Union Helps Consumers by Capping Swipe Fees While the U.S. Lags - "The 28 countries of the European Union agreed with a committee of the EU’s Parliament to cap the fees merchants pay banks every time a customer swipes a card at 0.2 percent on debit cards and at 0.3 percent on credit cards. Countries can also set a five-cent cap on debit transactions. The agreement also makes the card business more transparent, so that consumers can see how much swipe fees raise prices where they shop."
  • Mozido Acquires Majority Ownership in Mobile Commerce Company CorFire - “CorFire is a strong global mobile commerce player. By adding its strength in NFC-enabled mobile wallets to Mozido’s extensive mobile financial services and retail marketing capabilities, we can now give merchants around the world access to a powerful mobile ecosystem that adds monetization features to mobile programs,” said Michael Liberty, founder and Chairman of Global Strategic Initiatives at Mozido.

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 18, 2014

Headline News from PaymentsNews.com - December 18, 2014

On the Web:

  • Square Is Resurrecting Wallet, Its Pay-By-Name Mobile App, And Giving It Away - ReadWrite - "Square is "retiring" Wallet but its putting its key feature—the ability to pay in stores by saying your name, without taking out a wallet or even your phone—inside Square Order."
  • Silicon Valley Bank -- At The Core Of A Tech Network - Forbes - “We are doing something very, very different. We help them build a sound, scalable operating infrastructure that they would go to an investor and say they have worked with Silicon Valley Bank and the bank has looked over its fraud and compliance.”
  • Amazon Confirms Rollout of One-Hour Delivery Service - Wall St. Journal - "The service, first reported by The Wall Street Journal, is available in parts of New York, though Amazon said it would expand to other cities next year. Amazon will charge $7.99 for delivery within an hour, though two-hour delivery is free..."
  • Billing and Payments — a potted history - FastMail Blog - "As a credit card merchant, an important thing is the chargeback rate — that is, the percentage of your payments that the cardholders dispute with their bank. If this rate gets too high, then the payment gateways deem you to be risky, and they will charge much higher fees, or cancel your account completely."
  • Complex Solutions to a Simple Problem - Krebs on Security - "The main reason so many of these newfangled technologies are even being proposed is that the United States lags 20 years behind Europe and the rest of the world in adopting chip/smartcard technology in credit and debit cards."
  • Lawsky Outlines Revisions to New York's BitLicense in DC Speech - CoinDesk - "Ben Lawsky announced the latest revisions to the draft BitLicense today in Washington, DC, announcing a host of changes in response to reactions from its public comment period."
  • Payments startup Tipalti moves HQ to Palo Alto from Southern California - San Francisco Business Times - Tipalti also hired Rob Israch as chief marketing officer as the company "prepares for significant revenue growth."

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!

November 26, 2014

Headline News from PaymentsNews.com - November 26, 2014

Happy Thanksgiving!

  • To our friends and readers in the United States, best wishes for a wonderful Thanksgiving celebration with your family and friends! We'll be back at the news desk on Monday, December 1st.

On the Web:

  • Discover Sues Visa Over Debit-Card Practices - Wall St. Journal - "Discover is challenging a Visa rule that requires financial issuers of Visa signature debit cards to also include Visa’s PIN services instead of allowing other PIN networks like Pulse to compete for that business."

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!

November 06, 2014

Headline News from PaymentsNews.com - November 6, 2014

On the Web:

On the Wires:

  • Mastercard to Acquire TNS’ Payment Gateway Business - "MasterCard will acquire TNS’ eCommerce and card-present payment gateways, which will become part of the DataCash payment gateway suite. With the addition of TNS’ Payment Gateway Services, DataCash will be able to drive additional growth of the eCommerce category – and use of MasterCard-branded products – in North America and Latin America."
  • TSYS Releases White Paper on the Multilateral Interchange Fee (MIF) Regulations Impacting German Banks - "TSYS today announced the release of a white paper titled “How Issuers in Germany Can Replace Threatened Interchange Fees.” The paper explores the financial threat to German issuers of proposed changes to the Multilateral Interchange Fee (MIF) regulations in the European Union, and outlines initiatives to support additional revenue growth."
  • BluePay Announces Acquisition of Caledon, a Canadian Payment Technology and Processing Company - “We are very excited about the acquisition of Caledon,” said John Rante, BluePay CEO. “Caledon’s great reputation, direct connections to the card brands, and B2B focus will allow BluePay the opportunity to increase our payment acceptance capabilities for Canadian and U.S. merchants, as well as enhance our technology.”
  • GSMA Introduces Code of Conduct for Mobile Money Providers - "The GSMA today launched a Code of Conduct for Mobile Money Providers, outlining a series of common business principles to enable the development of safe and responsible digital financial services. The first mobile network operators (MNOs) to endorse the Code are Airtel, Avea, Axiata, Etisalat, Millicom, MTN, Ooredoo, Orange, Telenor, Vodafone and Zain."

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 31, 2014

Headline News from PaymentsNews.com - October 31, 2014

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!

September 25, 2014

Headline News from PaymentsNews.com - September 25, 2014

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!

September 11, 2014

Headline News from PaymentsNews.com - September 11, 2014

On the Web:

  • Apple Pay Stirs, But Doesn’t Shake, the Mobile Landscape - PaymentsViews.com (George Peabody) - "Looked at it from the payment context alone, Apple Pay does not do a great deal more than what Softpay/Isis and Google Wallet have already achieved. But the combination of Apple’s design focus and its assumption of a reasonably non-threatening role within the payments ecosystem should make a difference."
  • MasterCard Loses EU Court Case Over Interchange Card Fees - Wall St. Journal - "Europe's top court on Thursday backed a decision by the European Commission to ban cross-border fees set by MasterCard on the grounds that they harmed competition."
  • How Apple Pushes Entire Industries Forward - HBR Blog Network (Maxwell Wessel) - "Apple used its power as an impatient convener to move an industry. Yesterday, Tim Cook showed that, like the White House, when Apple calls, you answer."
  • How Apple Pay works and why it matters for developers - Clover Developers Blog - "Apple Pay marks the first time a popular operating system is making payments a platform service for real-world, non-digital-good transactions, in a broad, inclusive manner that is compatible with the mainstream payments processing industry."
  • Apple Pay and the CFPB - Credit Slips (Adam Levitin) - "I think Apple may have just become a regulated financial institution, unwittingly. Basically, I think Apple is now a "service provider" for purposes of the Consumer Financial Protection Act, which means Apple is subject to CFPB examination and UDAAP."
  • 8 ways that iOS 8 will change mobile engagement - Mobile Commerce Daily - "Over the last five years, push notifications have grown from a developer tool to deliver alerts to users to become the most transformative marketing technology of the last decade, driving dramatically greater consumer response than traditional channels such as email."
  • Coinbase Expands Internationally, Now Available In 14 Countries - Coinable Blog - "Coinbase is now available in 14 countries. We’re adding 13 additional countries across Europe including Italy, Spain, France, Belgium, the Netherlands, Austria, Cyprus, Finland, Greece, Latvia, Malta, Portugal, and Slovakia."

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!
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