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JP Morgan Chase

Welcome to the News View for "JP Morgan Chase".

Here, on these archive pages, you'll find all of the articles on Payments News for JP Morgan Chase 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 20, 2016

Headline News from PaymentsNews.com - June 20, 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

  • New Costco Anywhere Visa Card by Citi Offers Cash Back Rewards on Every Purchase - “We have a strong relationship with our members and it’s important that we’re rewarding their loyalty to us,” said Craig Jelinek, CEO and President, Costco. “Our new co-brand credit card agreement with Citi on the Visa network enables us to offer significant value and benefits for our members across 494 locations in the U.S. and Puerto Rico.”
  • That familiar ring? It’s your mobile phone, not your wedding band - "“We saw consumers really step up their use of digital banking tools – especially mobile apps – in the last year,” said Donna Vieira, Chief Marketing Officer of Consumer Banking at Chase. “We continue to enhance our digital banking services to let customers bank how, when and where they want.”"
  • Elavon Supports Payments Innovation with Apple Pay Expansion in Canada - "Elavon is among the first payment processing companies to offer Apple Pay to Canadian businesses, and provides support for in-person payments, as well as in-app purchases for Interac®, Visa®, MasterCard® and American Express®."
  • Dragonfly Fintech Selected to Implement Payment Solution - "It is about transforming the money remittance space and repositioning the service as a platform business allowing near frictionless participation," said Lon Wong, CEO, Dragonfly Fintech.
  • Blockchain Technology: Disruptive Forces in Financial Services, According to IDC - James Wester, research director at IDC Financial Insights and author of the report, said, "Blockchain has emerged during a time of incredible change in the payment space. Even though banks and technology vendors are grappling with many issues right now, they should pay particular attention to blockchain. It represents a complete shift in the way electronic transactions have been handled for decades, and participants in the market should begin thinking about how they will adapt to it."

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!

June 17, 2016

Headline News from PaymentsNews.com - June 17, 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

  • Wells Fargo Payment Manager® Helps Businesses Digitize Payments"Payment Manager B2P, which is expected to roll out in early 2017, enables businesses to pay any consumer who has a U.S. bank account without collecting or storing sensitive bank account information. The service only requires the customers’ email address or mobile phone number and any accompanying remittance details to conduct a transaction."

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!

June 16, 2016

Headline News from PaymentsNews.com - June 16, 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

  • Home Depot Files Antitrust Lawsuit Against Visa, MasterCard - Wall St. Journal -"This time, the do-it-yourself retailer also contends that Visa and MasterCard colluded to prevent the adoption of new chip-based cards that require consumers to enter a personal identification number, or PIN, to authorize a transaction."
  • Visa Defends Fees in Wal-Mart Canada Dispute - "In an advertisement to be published in Canadian newspapers on Thursday, the payments network said it is disappointed that Wal-Mart is threatening to stop accepting Visa at its stores."
  • Wells Fargo’s new credit card comes with mobile-enabled tracking - Mobile Commerce Daily - "Cash Track is a subset of Wells Fargo’s online banking, available exclusively to new credit card Cash Wise members, and allows customers to view rewards, set goals, track progress and view lifetime rewards on their mobile devices."

ON THE WIRES

  • Visa to Help Accelerate EMV Chip Migration and Support Merchants - "Visa has streamlined its testing requirements, amended and simplified the terminal certification process, and committed to investing further resources and technical expertise in a manner that can reduce timeframes by as much as 50 percent. Visa is also making policy changes to help limit exposure to counterfeit fraud liability for merchants who are not yet chip-ready."
  • Walmart Introduces Walmart Pay in Georgia - "With this launch, Walmart becomes the only retailer to offer its own payment solution that works with any iOS or Android device*, at any checkout lane, and with any major credit, debit, pre-paid or Walmart gift card – all through the Walmart mobile app."
  • Payments Canada, Bank of Canada Research Highlights Global Trend Towards Faster Payments - "The research, Clearing and Settlement Systems from Around the World: A Qualitative Analysis, identifies a series of commonalities between jurisdictions with modernized payment systems, but reveals there is no “one size fits all” approach to modernizing payments. Each country’s path to modernization is unique, shaped by local public policy priorities, user needs and legacy payment systems."
  • Chase Customers Can Now Send Money to More People in Real Time - "Chase customers sent $20 billion in person-to-person transactions through Chase QuickPay last year. Real-time transactions with customers of other participating banks will be available soon through the clearXchange™ network from Early Warning, which currently reaches up to 65% of the digital banking population in the U.S."
  • Consumers Respond to Apple Pay Messaging with More Payments - "According to early results, USAT believes that smartphone users shown digital advertising at point-of-sale through the ePort Interactive platform are more apt to pull out their iPhone to make a purchase, and even spend more during the transaction."
  • Ingenico Group and nanoPay Corporation Partner to Enable Canadian Retailers to Accept MintChip Digital Cash - "Ingenico Group embraces innovative solutions in Canada that expand our reach to a new generation of digital customers," said Suzan Denoncourt, Managing Director, Canada for Ingenico Group. "This partnership further reinforces our leadership position in payments technology by enabling MintChip digital cash transactions for the thousands of retailers using our smart terminals across Canada."
  • Ally Bank Introduces the Ally CashBack Credit Card - "We are confident the Ally CashBack Credit Card's rewards structure will resonate with customers, and the ten percent bonus feature for rewards deposited in an eligible Ally Bank account is consistent with our philosophy to help them maximize their savings opportunities."

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!

June 14, 2016

Headline News from PaymentsNews.com - June 14, 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

  • Merchant Acceptance in the Developing World – Mobile Payments’ Essential Missing Link - PaymentsViews.com (Allen Weinberg) - "While there has been a lot written on how mobile or eMoney payments systems such as M-PESA in Kenya have grown in many developing countries—and how they have brought much-needed electronic payments to the poor and underserved—there’s a critical missing piece that demands attention."
  • Blockchain technology: Redefining trust for a global, digital economy = "Sorting out hype from reality may depend on how well we identify where institutions that have until now played a role in mediating trust between people are falling short, especially in the key area of money. Deploying the blockchain in those settings to generate secure, decentralized trust could achieve great strides in inclusion and innovation."
  • Florida Bank Issues First Us Credit Card for Use in Cuba - AP - "Pompano Beach-based Stonegate Bank said its Mastercard, available Wednesday, will let U.S. travelers charge purchases at state-run businesses and a handful of private ones, mostly high-end private restaurants equipped with point-of-sale devices."
  • JPMorgan Joins Banks With Real-Time Payments Akin to PayPal - Bloomberg - "JPMorgan Chase & Co. has joined U.S. rivals including Bank of America Corp. and U.S. Bancorp in letting customers transfer money between the lenders in real time, challenging ventures including PayPal Holdings Inc.’s Venmo."

ON THE WIRES

  • Using Visa’s Intelligent Analytics, Gas Retailers See a Reduction in Fraud - “Visa Transaction Advisor gives fuel retailers a tool for applying Visa’s real-time fraud insights to transactions at the gas pump,” said Mark Nelsen, senior vice president of Risk Products, Visa Inc. “The results we’re seeing in the fuel sector attest to the power of predictive analytics for many of our merchant partners. It’s an effective model for combatting fraud and one we hope to replicate with other merchant categories.”

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!

May 18, 2016

Headline News from PaymentsNews.com - May 18, 2016

ON THE WEB

  • Payments on Fire Podcast: Shoptalk Conference 2016 - PaymentsViews.com (George Peabody) - "Take a listen to my conversations with start-ups Tuku (in-store digital content delivery), Belly (in-store loyalty), Bold Financial Technologies (payout management for Treasury) and established fintech provider ACI Worldwide.
  • PayPal's first Analyst Day - PayPal is holding its first ever Analyst Day briefing today beginning at 8:30 AM Pacific. The presentation slides are here.
  • Enhancing Android Pay APIs - Android Developers Blog - "We believe that mobile payments can make for a better, more secure shopping experience - so we're in this together for the long haul. We’re building a robust Android Pay ecosystem, one that’s open and scalable, to enable developers to drive mobile payments - and their businesses - forward. We're very excited for the road ahead and we hope you are too."
  • J.P. Morgan Reduced Some Employees’ Access to Swift System in Recent Weeks - Wall St. Journal - "The New York bank took the steps in recent weeks to keep tighter control on its links to the service, those people said."
  • MCX bows out as opportunity narrows for new mobile payment entries - Mobile Commerce Daily - "With a Chase Pay partnership in place, MCX is shifting gears, postponing its consumer payments application, CurrentC, and focusing on building relationships with additional banks instead ..."
  • What Happened to the Revolving Credit Card Balances of 2009? - Payment Cards Center - Federal Reserve Bank of Philadelphia - "We examine the paydown and charge-off of March 2009 revolving credit card balances. We find that 75 percent of those balances had been paid off or charged off within four years. Charge-offs played a much smaller role in balance reduction than did paydown (27.8 versus 72.2 percent)..."
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  • The Blockchain Expert: In Search of Tech’s Near-Mythical Beast - Wall St. Journal - "The problem is few technologists have deep experience building systems that use a blockchain. Those who do are in high demand."

ON THE WIRES

PAYMENTS IN PORTLAND

  • Join us for the next Payments in Portland (Oregon) event being held on Tuesday, June 7th. Details here!

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!

May 06, 2016

Headline News from PaymentsNews.com - May 6, 2016

ON THE WEB

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming up in May - both in Palo Alto, CA - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

April 15, 2016

Headline News from PaymentsNews.com - April 15, 2016

ON THE WEB

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming up in May - both in Palo Alto, CA - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

March 29, 2016

Headline News from PaymentsNews.com - March 29, 2016

ON THE WEB

ON THE WIRES

  • Federal Reserve Engages in Effort to Assess Faster Payments Solutions - "The Federal Reserve on Tuesday announced the selection of McKinsey & Company to support Faster Payments Task Force efforts this year to assess faster payments solution proposals from various providers across the United States payments industry."
  • SWIFT signs MoU with China’s CIPS - "SWIFT has signed a memorandum of understanding (MoU) that sets out plans to develop China’s Cross-border Interbank Payment System (CIPS) using SWIFT as the secure channel to connect CIPS with its global user community."
  • Survey: 73% of American Companies Were Targets of Payments Fraud in 2015 - "Let there be no doubt: Payments fraud is an enormous challenge for all organizations," said Jim Kaitz, president and chief executive officer of AFP. "One of the toughest payments fraud challenges we are seeing is BEC scams, which are growing increasingly sophisticated and successfully infiltrating email systems at numerous organizations."
  • JPMorgan Chase Institute Launches Local Consumer Commerce Index of Everyday Spending in 15 U.S. Cities - "Unlike many existing sources of data on consumer spending, the LCCI captures actual transactions, instead of self-reported measures of how consumers think they spend. The index’s geographically specific data provide a granular and timely view of how cities and their surrounding metro areas are faring on a monthly basis. Further, the LCCI captures economic activity in consumer facing retail and services sectors that previously have not been well understood by other data sources."
  • Global Payments Announces Full Support for Samsung Pay in China - “Global Payments is delighted to bring innovative commerce to merchants in China by supporting Samsung Pay,” said Frank T. Young, SVP, Global Product and Innovation. "Our continued commitment to leading payments technology across the globe allows us to offer another form of mobile payment acceptance to the broadest set of merchants."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming up in early April - both in New York City - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

March 10, 2016

Headline News from PaymentsNews.com - March 10, 2016

ON THE WEB

  • The future of mobile wallets in India - The Hindu BusinessLine - "The consumer payments industry (specifically wallets) will play a crucial role in the future growth of digital payments in the country."
  • R3: Biggest-Ever Blockchain Trial is Only the Beginning - CoinDesk - "Going forward, he said, the company plans to drill down into other areas of focus including distributed ledger interoperability, privacy, identity and scalability, and that the tests were likely to be smaller in scale."

ON THE WIRES

  • Banking on the new chase.com is even easier - “Customers continually seek easy ways to access their accounts, so we’re making it easier for customers to bank their way,” said Gavin Michael, Head of Digital for Chase. “We’re excited to bring the look and feel that customers love on the new chase.com home page to behind the sign in experience.”
  • Prosper Marketplace Unveils Prosper Daily, Its First Mobile App - “By using Prosper Daily just a few minutes a day, consumers can begin to get on top of their finances” said Aaron Vermut, chief executive officer of Prosper Marketplace. “We’re excited to be the first marketplace lender to offer a financial wellness app to consumers.”

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming up in early April - both in New York City - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

March 02, 2016

Headline News from PaymentsNews.com - March 2, 2016

ON THE WEB

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming up in early April - both in New York City - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

February 23, 2016

Headline News from PaymentsNews.com - February 23, 2016

ON THE WEB

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

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming up in early April - both in New York City - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

EVENTS

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

February 02, 2016

Headline News from PaymentsNews.com - February 2, 2016

ON THE WEB

  • A Year of Progress: Celebrating the Anniversary of Strategies for Improving the U.S Payment System - Faster Payments Blog - "Read our February 2016 Progress Report and hear more about the Federal Reserve’s vision for the future U.S. payment system in video interviews with Esther George, President and CEO of the Federal Reserve Bank of Kansas City and executive sponsor of the payments improvement initiative, and Jerome Powell, Federal Reserve Board Governor and co-chair of the initiative’s oversight committee."
  • Cutting Off Those Recurring Charges You Forgot About - New York Times - "Once Trim performs its analysis, you get a text message with a list of all your recurring charges. You reply with “Cancel X,” and then the company takes it from there, making the request on your behalf to the service provider."
  • CIO Explainer: What Is Blockchain? - Wall St. Journal - "Blockchain remains in the experimental phase inside many large firms and there are few tested use cases, experts and analysts caution. Here’s a look at how this emerging technology works..."
  • Blythe Masters and JPMorgan trial blockchain project - FT.com - "JPMorgan appears to be taking a lead in encouraging broader, industry-wide adoption of blockchain technology..."
  • Bank Tellers, With Access to Accounts, Pose a Rising Security Risk - New York Times - "Though much of the focus on bank fraud has been on sophisticated hackers, it is the more prosaic figure of the teller behind the window who should worry depositors, according to prosecutors, government officials and security experts."

ON THE WIRES

  • MasterCard Adds to Global Public Policy Team - "MasterCard today announced the appointment of Alexander N.M. Niejelow as a senior vice president of public policy, effective February 8, 2016."
  • BlueSnap Measures Checkout Abandonment To Help Retailers Avoid Lost eCommerce Sales - “People buy from Amazon because they have a simple, one-click checkout process. Every retailer needs to provide that same experience or risk losing out. That’s the inspiration behind the Checkout Conversion Calculator – to help merchants discover and zero in on the things they must do to maximize their checkout, payments and sales conversions,” says Ralph Dangelmaier, CEO of BlueSnap.

EVENTS

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

December 17, 2015

Headline News from PaymentsNews.com - December 17, 2015

On the Web

On the Wires

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

November 05, 2015

Headline News from PaymentsNews.com - November 5, 2015

On the Web

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

On the Wires

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

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

November 03, 2015

Headline News from PaymentsNews.com - November 3, 2015

On the Web

On the Wires

  • American Express and Airbnb Launch First-of-Its-Kind Booking Experience and American Express Loyalty Program Integration for Card Members - “We welcome millions of Amex Card Members to belong anywhere with Airbnb,” said Lex Bayer, Head of Global Payments and Business Development, Airbnb. “Whether staying at a bungalow in Bali with Membership Rewards points, or a business trip to London with your Amex Card, this partnership makes booking an Airbnb in over 190 countries seamless and allows Card Members to be verified with their American Express login within the trusted community of Airbnb.”
  • Fiserv and Early Warning Partner to Enable Real-Time Bill Payment and Real-Time Deposit Services for U.S. Financial Institutions - "The partnership between Fiserv and Early Warning brings together the leading provider of electronic bill payment and the leading provider of real-time deposit account verification and funds availability to enable broader consumer access to real-time services through their financial institutions. Combined, the Fiserv and Early Warning networks reach more than 6,000 banks and credit unions, including the 40 largest financial institutions in the U.S. and thousands of mid-size and community financial institutions, representing more than 75 percent of all deposit accounts in the U.S. The NOW Network from Fiserv also connects to tens of thousands of billers."
  • Intuit’s New Banking Integration Technology Can Make Accounting More Accurate and Seamless - “This new bank feeds technology is all about leveraging the power of our platform to save small businesses time by automating the process of entering data into QuickBooks,” said Avi Golan, vice president and general manager of the Intuit Developer Group. “We’re pleased to be working with American Express to enable American Express OPEN Card Members to be the first to benefit from this new technology. This is a great example of how our open platform approach allows us to partner with leading companies who can help small businesses be more efficient and effective.”
  • Fractals Delivers Intelligent Card and eBanking Fraud Detection for the Enterprise - "Fractals’ new eBanking channel brings the intelligent fraud detection functionality of Fractals to the internet and mobile banking space. As well as monitoring financial transactions, such as payments and transfers, Fractals also monitors non-financial transactions, including login attempts, changes of personal data and creation of new recipients which might indicate fraud on an account."
  • MasterCard Names Craig Vosburg, President, North America Markets, Succeeding Chris McWilton - "Vosburg, 48, was most recently the company’s chief product officer, a role he held since April 1, 2014. In this role, he led the development, commercialization and management of the company’s global Core Products offerings which include consumer credit and debit, commercial, prepaid and loyalty solutions."
  • Catherine Moore named President for Commerce Solutions, Europe, for J.P. Morgan - “Catherine is an outstanding leader and an experienced manager whose wealth of knowledge and insight into the payments industry and this region will be invaluable in our drive to boost our current market position, enable our clients to grow, and make the most of new business opportunities throughout Europe,” said Michael K. Passilla, CEO for Chase Commerce Solutions.

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 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!

July 23, 2015

Headline News from PaymentsNews.com - July 23, 2015

On the Web:

On the Wires:

  • Wells Fargo Launches New Innovation Group - "Wells Fargo today announced the formation of a new Innovation Group, which will work in partnership with its major businesses to meet evolving customer needs and stay ahead of the shifting competitive landscape. Steve Ellis, who had served as the head of Wholesale Services, has been named the leader of the new group."
  • MasterCard Opens its Digital Security Lab to Customers - “The MasterCard DigiSec Lab represents our collective efforts to maximize product innovation and security investments,” said Ajay Bhalla, president of Enterprise Security Solutions at MasterCard. “While payments have never been safer, criminals have never been smarter. We’ve now opened the lab to our customers as part of an ongoing commitment to share insights, solutions and best practices to deliver the highest levels of security.”
  • Citi Mobile Challenge Launches in Asia Pacific - "Citi Mobile Challenge is a next-generation accelerator that combines a virtual hackathon with an incubator, a worldwide network of FinTech experts and Citi’s unparalleled global sponsors and clients to discover solutions across more than 100 markets."
  • Chase and Southwest Airlines Renewal Cleared for Takeoff - “This extension reinforces our long-term commitment to collaborating on a program that delivers exceptional value and service to our shared customers,” said Eileen Serra, chief executive officer of Chase Card Services.
  • Uber Taps Its Global Payments Partner, Adyen, to Expand into Morocco - “Adyen continues to be a key strategic partner in addressing the many payments-related challenges of rapid international expansion,” said Meryem Belqziz, Uber Casablanca General Manager. “Their transparent philosophy, data-driven approach, and technical agility have made the partnership a natural fit.”
  • Visa Inc. Reports Fiscal Third Quarter 2015 Earnings Results - “We continue to deliver solid financial results and operating metrics without the help of an improving economic environment. Strong underlying fundamentals continue to offset the drag from geopolitical tension and the strengthening dollar on our business,” said Charlie Scharf, Chief Executive Officer of Visa Inc.

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 20, 2015

Headline News from PaymentsNews.com - July 20, 2015

On the Web:

On the Wires:

  • PayPal Celebrates Listing on Nasdaq and Completes Separation from eBay Inc. - “As the world’s open, digital payments platform and most trusted and popular digital wallet, we are excited to celebrate our listing day and embark on our next chapter,” said Dan Schulman, President and Chief Executive Officer of PayPal. “Mobile technology is transforming payments, making it easier, safer and more affordable for people to move and manage their money than ever before. As an independent company, we see a tremendous opportunity for PayPal to expand our role as a champion for consumers and partner to merchants, and to help shape the industry as money becomes digital at an increasingly rapid pace.”
  • Mobile Technology Use Among Shoppers Rises as Retail Habits Change, Synchrony Financial Study Finds - "The survey, conducted in March and April 2015 with nearly 7,000 Synchrony Bank cardholders and random shoppers nationwide, gathered insights on how customers view mobile technology for shopping and what they expect in their mobile retail experience."
  • 5 Ways Chase.com’s Home Page Just Got Better - “We just made it easier for our customers to live and bank the way they want,” said Gavin Michael, Head of Digital for Chase. “We’re excited to bring the look and feel that customers love on the Chase Mobile® app to their desktops and tablets.”
  • NCR Small Business Releases All-in-One Tablet POS System - “NCR Silver Register is designed to help small businesses and franchises to easily focus on what’s important – delivering a higher level of customer service and modernizing their stores,” said Chris Poelma, president and general manager of NCR Small Business. “The bundled solution is affordable and scalable, yet helps business owners power their businesses without the typical implementation challenges associated with many enterprise-level technology solutions.”

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 08, 2015

Headline News from PaymentsNews.com - July 8, 2015

On the Web:

On the Wires:

  • Digital River Teams up with Global Mass Payments Provider Payoneer - "We’re excited about working with Digital River to help meet the growing demands of their merchants. Payoneer’s all-in-one mass payout services are an exciting complement for Digital River merchants challenged with the complexities of global payouts,” said Scott Galit, Payoneer’s CEO. “Payoneer is fully committed to helping Digital River clients capitalize on international market opportunities by enabling them to pay globally as easily as they do locally.”
  • Capital One Teams with Vantiv to Enhance Payment Processing Solutions for Merchant Services Customers - "Capital One is committed to providing the most innovative technologies to our business customers," said Colleen Taylor, executive vice president, head of Treasury Management and Enterprise Payments, Capital One Bank. "By partnering with Vantiv, our clients will now benefit from Vantiv's industry-leading payment tools and services, which are designed to help them focus on what they do best - running and growing their businesses."
  • Ink from Chase Unveils New Design and Enhanced Features of Mobile Application - “The new Ink app was designed with one goal in mind: to simplify backend office management for small business owners so they can focus on their business,” said Laura Miller, President, Business Card at Chase. “By giving small business owners the ability to easily, quickly and more efficiently manage their finances and the financial activity of their employees, they have more time to focus on their passion and grow their small business.”
  • U.S. Bank Selects Biller Advantage from Fiserv to Enable Business Customers to Send e-Bills, Accept e-Payments - “Consumers are looking for ways to simplify their finances and streamline their bill payment process. Our business customers want to meet this demand and offer consumers the best and most user-friendly billing and payment options,” said Sam Robb, senior vice president, U.S. Bank. “Biller Advantage from Fiserv will allow us to offer a multichannel EBPP solution to our business customers – a new offering that will allow them to more efficiently send bills and quickly accept payments."
  • IDEX Enters into a Strategic Worldwide Biometric Card Partnership with a Global Payments Company - Dr. Hemant Mardia, CEO of IDEX stated, “We are very pleased to have been selected for this global company biometric card initiative enabled by our compelling low cost, turnkey fingerprint sensor solutions. The program will commence development during 2015. This partnership is expected to enable IDEX to secure a leading position in this emerging mass market for fingerprint sensor based biometric cards.”
  • Adyen Mobile Payments Index reveals 36% of global mobile payments are now on iPhone - “The continued rise in popularity of the iPhone for making online purchases, coupled with the higher ATV from shoppers using iOS, suggest that businesses – especially those that classify themselves as premium brands – should target this valuable demographic in particular,” said Roelant Prins, Chief Commercial Officer, Adyen. “Apple Pay, as it becomes available in more markets, represents a great opportunity for businesses to fulfil this as it enables them to deliver a seamless payment experience to iOS users.”
  • Fostering Innovation and Growth in Smart Card Programs –- Entrust Datacard Continues to Help Expand EMV Instant Issuance Market Adoption - "Entrust Datacard today announced that financial institutions have instantly issued over 2.1 million chip cards globally in 2015 utilizing Datacard® instant issuance hardware and associated software. That number is projected to grow as more financial organizations adopt the technology – especially within the U.S. where EMV migration is rapidly accelerating."

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 23, 2015

Headline News from PaymentsNews.com - June 23, 2015

On the Web:

  • API-Based Money Mover Currency Cloud Taps Sapphire Ventures And Rakuten For $18M - TechCrunch - "The company’s main technology and product is called Payment Engine, and by way of an API, this sits as the essential engine behind a number of other services such as Azimo, TransferWise and xe.com and many others, over 125 in total, who have built businesses around the idea of moving money internationally."
  • Traxpay Nabs Paypal and Mastercard Exec As Chief Operating Officer - Traxpay Blog - “There are very few experts in the financial technology sector that have the breadth and depth of experience that Jochen Siegert brings,” commented Traxpay’s CEO John Bruggeman. “We share a common vision for where the industry is going, and what the market is expecting in terms of innovation for companies transacting on a global scale."

On the Wires:

  • More U.S. Consumers Bank On The Go, Even on Dates - “This survey tells us what our customers have shown us over the last two years,” said Barry Sommers, CEO of Chase Consumer Banking. “They love the ease of handling their routine banking online, on their phone and at an ATM.” More consumers are using their mobile app (33%) or banking online (35%) than last year while only 16% are stopping by branches more often.
  • TNS Provides Pan-Asian Telecommunications Network for Global Payments - Guido Sacchi, Chief Information Officer at Global Payments, added: “We have had a long-standing relationship with TNS because of their extensive global reach and ability to handle the many different protocols and methods used across the Asia Pacific region. By using TNS, we have achieved a standardised, PCI DSS solution that complies with local regulations in each market, meeting Global Payments’ business requirements and allowing us to maintain a high standard of service to our customers.”

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 01, 2015

Headline News from PaymentsNews.com - June 1, 2015

On the Web:

  • On Ed Gilligan - Medium (Megan Quinn) - "At best, startups are ignored and at worst, distrusted. Ed broke that mold. He was willing to pursue new ideas, take measured risks, run tests and lend some brand credibility and marketing power to fledgling companies doing interesting work."
  • The First Battle In The Mobile Payments War Is Over - TechCrunch (Dana Stalder) - "t’s been a tale of conflict, closed door bargaining, and one with a David vs Goliath subplot and huge fortunes at stake. Many watched and waited as PayPal and Google battled the oligopoly of the Networks (Visa, Mastercard, Amex), only to be surprised by a twist ending."
  • Bitcoin app issues critical update after rare bug leads to total crypto breakdown - Guardian - "Bitcoin wallet application Blockchain has rushed to release an update after a critical bug left multiple users unaware that they were sharing a bitcoin wallet..."

On the Wires:

  • Discover Doubles Cash Rewards for New Discover it® Cardmembers after First Year - "Starting today, Discover is extending an exclusive offer to new Discover it® cardmembers that doubles all of the cash rewards they’ve earned at the end of their first year for accounts that are open at the time of doubling. There are no limits on how much a cardmember can earn, and they can redeem in any amount, any time, and their rewards never expire."
  • Chase Mobile® App for iPhone® Introduces Touch ID™ - “We’re focused on making mobile banking faster and simpler,” said Gavin Michael, Head of Digital for Chase. “Touch ID has been the number one request of our customers – and we are excited to deliver it to them.”

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 12, 2015

Headline News from PaymentsNews.com - May 12, 2015

On the Web:

On the Wires:

  • Chase Expands Chip Technology to Debit Cards and ATMs to Help Protect Consumers and Businesses - “Fraud and security threats facing consumer payments today is a complex issue that can’t be solved with any single technology,” said Gordon Smith, CEO of Chase Consumer and Community Banking. “We’re working to employ a variety of approaches to protect our customers – adopting chip technology is a critical step on this journey.”
  • Early Warning and NCR to Enable Cross-Institution Real-time Good Funds Network - "Early Warning’s good funds network will facilitate communication among financial institutions, giving a participating depositing bank a real-time guarantee for check and ACH transactions and will support both credit push and debit models. As a result, customers will receive faster availability of funds on deposited items and instant notification of items presented for deposit – all based on real-time activity."
  • Stratos Unveils Digital Card Issuance Platform at Finovate - “Stratos is reinventing the wallet. Just as consumers have migrated their music collections into digital formats such as iTunes, so too are cardholders now compressing what goes into their wallet,” said Thiago Olson, co-founder and CEO of Stratos.

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!

April 14, 2015

Headline News from PaymentsNews.com - April 14, 2015

On the Web:

On the Wires:

  • JPMorgan Chase Reports First-Quarter 2015 Net Income of $5.9 Billion - Jamie Dimon concluded: “JPMorgan Chase continues to support consumers, businesses and communities and make a significant positive impact. We have an outstanding franchise which is getting safer and stronger, and is gaining market share over time. We continue to build the company for the long-term, we are investing in controls, infrastructure, systems, technology, new products and bankers. We will continue to navigate challenges and deliver for our clients, shareholders and communities.”
  • Wells Fargo Reports $5.8 Billion in Net Income - “Our solid first quarter results again reflected the benefit of our diversified business model and the continued focus of our 266,000 team members on serving the needs of consumer and business customers," said Chairman and CEO John Stumpf. “We continued to strengthen our customer relationships in the quarter, as reflected in strong growth in deposits and primary checking customers. In addition, our mortgage business was able to serve more customers by refinancing their mortgage loans with lower rates."
  • Early Warning and BioCatch Align to Help U.S. Financial Services Organizations Fight Fraud and Improve Digital Experience - “Early Warning has taken yet another fundamental and unparalleled step in securing and optimizing digital financial transactions,” said Paul Finch, CEO of Early Warning. “Integrating BioCatch’s behavior analytics, plus our ability to authenticate consumers and their devices via the Mobile Network Operators, enables participating banks to provide a more seamless and secure digital experience for their customers as well as increase their own operational efficiencies.”
  • U.S. Bank Introduces Virtual Payment for Travel Intermediaries - “Automatic reconciliation is critical to our partnership with travel intermediaries,” adds Jeff Rankin, U.S. Bank global executive for Large Market and Public Sector Bankcard. “Our single-use account solution provides an alternative to central travel accounts, creating a 1:1 relationship between the booking data and the transaction data and reducing overhead. We are pleased to bring these capabilities to our clients and see their businesses grow as they serve their global customers in new and better ways.”
  • Synchrony Financial and Guitar Center to Introduce New Consumer Financing Program - "According to Synchrony Financial’s third annual Major Purchase Consumer Study, 72 percent of music shoppers always seek promotional financing, and 77 percent of respondents said that the availability of financing is “very important” when choosing a retailer. Musical instruments and gear also lead online purchases across the 12 categories included in the study."
  • New TNS Card Scheme Gateway Set to Accelerate UnionPay Acceptance Worldwide - Lisa Shipley, Executive Vice President and Managing Director of TNS’ PaymentNetwork Solutions, said: “We’re delighted to have secured this arrangement with UnionPay to establish this gateway to promote in-store card acceptance internationally. UnionPay is a significant player within the card industry globally and merchants and banks have long recognized the importance of being able to accept payments made via its card."
  • Kofax and Blackhawk Network Announce OEM Agreement - "Blackhawk Network has developed strong relationships with major retailers and payment systems which gives it a competitive edge in supporting digital wallets," stated Drew Hyatt, Senior Vice President of Mobile Capture Applications at Kofax. "Kofax Mobile Capture adds valuable user functionality to GoWallet and to Blackhawk Network’s digital platform, and benefits Kofax by adding Blackhawk to our growing list of mobile industry leaders.”

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 16, 2015

Headline News from PaymentsNews.com - March 16, 2015

On the Web:

  • Alibaba’s Jack Ma Demos Pay-With-Your-Face Technology - Re/code.net - "In Hannover, Germany, Sunday night, where he was a headline speaker at the CeBit conference getting under way this week, Ma capped his speech by demonstrating a payment system on a smartphone using facial recognition technology."
  • Naver Bets On Mobile Payment Boom - Wall St. Journal - "The new mobile payment service, to be called Naver Pay, will allow consumers to buy goods online using smartphones or traditional computers in some cases without having to punch in any passwords."
  • BMO Harris Bank launches cardless ATMs - Chicago Tribune - "Generally, cardless cash machines work by creating a QR code, a square matrix-style bar code. Customers sign into the mobile app and hold their smartphones over the QR code on the ATM, which dispenses the desired cash."
  • Withdraw Cash Without a Card? There’s an App for That - Wall St. Journal - "The latest gambit by banks to reduce card fraud? Get rid of the card."
  • Authorities Closing In on Hackers Who Stole Data From JPMorgan Chase - New York Times - "Law enforcement officials believe that several of the suspects are “gettable,” meaning that they live in a country with which the United States has an extradition treaty."

On the Wires:

  • TA Associates Announces Investment in YeePay - “Key drivers in the third-party payment industry in China include growth in the issuance of bank and credit cards, increased consumer spending, growth in online and mobile payments, and government promotion of non-cash payments,” said Naveen Wadhera, Director and Co-Head of Asia at TA Associates Asia Pacific Ltd. “It is estimated that only 10 percent of small and medium-size businesses in China have a point of sale payment solution, so we expect penetration of that offline market will also drive industry growth.”
  • WEX to receive Australian MasterCard® Issuing Licence under new regulatory framework - "The Australian MasterCard issuing license was granted following regulatory changes made by the Reserve Bank of Australia to the MasterCard and Visa access regimes, which came into effect on 1 January 2015. The changes were designed to encourage access to and greater competition in the Australian market."
  • NCR Software Drives Transaction Switching at Mexico’s Largest Electronic Payments Processor, E-Global - “With the high volumes of transactions handled by E-Global on a daily basis, the support and performance of its transaction platform is essential,” said Steve Nogalo, vice president and general manager of Payments, NCR Financial Services. “With Authentic, E-Global has the flexibility and visibility it needs to deliver a best-in-class experience to its merchants and the consumers they serve.”

Glenbrook's 2015 Payments Education Update!

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 05, 2015

Headline News from PaymentsNews.com - February 5, 2015

On the Web:

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!

December 23, 2014

Headline News from PaymentsNews.com - December 23, 2014

Holiday Break!

  • It's that time of year again - when we'll be coasting with family and friends and not tending the news wires here at PaymentsNews.com. Hope you have a wonderful holiday season with yours - and we'll see you back here all fresh and ready to go in the New Year!

On the Web:

On the Wires:

  • Unified Patents Establishes a Defensive Patent Zone for Electronic Payments - “Deterring frivolous patent threats while maintaining a healthy patent system is foundational to what Unified provides its members,” said Kevin Jakel, CEO and Founder of Unified Patents. “Now banks, credit card companies, financial institutions and technology providers that participate in the payments system have someone in their corner to deter future NPE activity."
  • Metrics Global, Inc. Enables Apple Pay for Merchants - Wendy M. Yurgo, President and CEO of Metrics Global, says, “Our goal is to provide our merchants with a suite of best-in-class options that enable them to attract, retain and grow their customers. When we can partner with our merchants to help them grow their business while providing them with superior customer service and competitive rates, then we secure our client base as well.”

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 08, 2014

Headline News from PaymentsNews.com - December 8, 2014

On the Web:

  • Regulation, the Blockchain and Programmable Money - PaymentsViews.com (George Peabody) - "Programmability of asset transfers has enormous potential to save money and simplify public and private transactions. A hallmark of any regulation should be its ability to accommodate that kind of innovation."
  • Stripe is the breakthrough startup of 2014 - Mashable - "Stripe is a key reason that some of these on-demand startups have been able to get off the ground so quickly — and Stripe has prospered in return. Tens of thousands of businesses now use the Stripe API for payments."
  • Toward a Breach Canary for Data Brokers - Krebs on Security - "Despite their apparent role in facilitating (albeit unknowingly) these ID theft services, to my knowledge the data brokers involved have never been held publicly accountable in any court of law or by Congress."
  • EMVCo Launches ‘A Guide to EMV Chip Technology v2.0’ - EMVco - "First published in 2011, the guide has been updated to reflect EMVCo’s new branding and imagery, detail the evolution of the technical body and communicate the latest transaction figures, first published in November 2014. The document also provides insight into the latest EMV Chip Specifications and introduces EMVCo’s Next Generation activity."
  • Investment in European Payment Firms Hits Record Levels - Wall St. Journal - "Nascent payments and transaction processing companies in Europe raised $417.9 million through 26 deals in the nine months to September, more than seven times what was raised during the same period last year, according to figures from data provider Dow Jones VentureSource."
  • Banks Urge Clients to Take Cash Elsewhere - Wall St. Journal - "J.P. Morgan told some clients of its commercial bank recently that it would begin charging monthly fees on deposit accounts from which clients can withdraw money at any time."
  • Apple Pay will be the mobile wallet of choice and here's why - Financial Services Club Blog (Chris Skinner) - "In other words, Apple Pay could be the Uber for mobile payments."
  • Why Apple Pay will win (Part 2) - Financial Services Club Blog (Chris Skinner) - "The Apple Pay wallet system, with its own bank partner (if it needs one) and now you don’t need a card registered or anything. You don’t need PayPal or Visa or MasterCard. You just need Apple. Just a thought."
  • Wish List: Apple Pay your friends - SixColors (Dan Moren) - "In theory, Apple could even offer the ability to send funds to people via the Internet. Apple Pay already works for some online transactions, and once again Square Cash has proved that you can transfer funds online without too much hassle."
  • Starbucks brews iBeacon strategy to support premium coffee play - Mobile Commerce Daily - "Starbucks said it would bring out iBeacon technology in the coming year to allow customers at its premium-coffee Roastery and Tasting Rooms to access information about freshly brewed coffee via smartphones."
  • Alibaba’s Alipay Now Sees Over Half Of Its Transactions In China From Mobile Devices - TechCrunch - "The company‘s latest report found that 54 percent of the number of transactions on its PayPal-like service during the first ten months of 2014 were from mobile devices."
  • How the Rising Dollar Could Trigger the Next Global Financial Crisis - Wall St. Journal - "When the emerging-market currency is strong and the dollar is weak, that manufacturer’s balance sheet looks sturdier–and the local bank sees that and lends more readily. Thus a weak dollar can lead to a global credit boom."

On the Wires:

  • Dynamics Inc. Raises $70 Million in Series C Funding - "New investors MasterCard and CIBC were joined by existing backers Bain Capital Ventures and Adams Capital Management."
  • MasterCard and Dynamics Inc. Partner to Drive Innovation within Interactive Payment Card Market - “At MasterCard, we are focused on driving innovation across the entire payments industry, and continue to invest in the technologies, solutions and companies that will help our customers and partners expand their business and serve their cardholders in new ways,” said Carlos Menendez, Group Executive, Global Credit and Debit Products at MasterCard. “In working with Dynamics, we have secured a partner with deep technology capabilities and market-leading manufacturing capabilities to help drive innovation in the interactive payment card market while moving in lockstep with MasterCard’s mobile and digital enablement strategy.”
  • Speed for all – Faster Payments publishes vision for a New Access Model - "More challenger banks and other non-traditional players could benefit from direct access to Faster Payments, the UK’s immediate internet, mobile and phone banking payment service, through proposals for a New Access Model published today, (Monday 8 December)."
  • SWIFT enters into real-time retail domestic payments - "On 2nd December, Australia's New Payments Platform (NPP) Steering Committee announced it has selected SWIFT to provide the infrastructure for its New Payments Platform (NPP) project, a new Australian fast payments infrastructure."
  • BitPay Integrates With DriveWealth to Bring Bitcoin to Investors Worldwide - “Providing users with the added security of bitcoin as a payment method makes the whole process easier, and gives users peace of mind,” says Tony Gallippi, Co-Founder and Executive Chairman of BitPay. “With Bitcoin, users will no longer have to wait days or weeks for an account to be funded because this integration will make their deposit process seamless.”
  • Fiserv Names Marc West Division President, Digital Channels - "Before joining Fiserv in 2013, West was the president and CEO at Mamasource, an e-commerce platform focused on moms, where he focused on business growth and strategic partnerships. He has also served as managing director of e-Business at Barclays Global Investors, and has held senior leadership positions at H&R Block and Electronic Arts."

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 17, 2014

Headline News from PaymentsNews.com - October 17, 2014

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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!

October 15, 2014

Headline News from PaymentsNews.com - October 15, 2014

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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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