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MasterCard

Welcome to the News View for "MasterCard".

Here, on these archive pages, you'll find all of the articles on Payments News for MasterCard 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 15, 2015

Headline News from PaymentsNews.com - June 15, 2015

On the Web:

On the Wires:

  • clearXchange Announces Real-Time Payments Solution - “As people and businesses increasingly transition everyday activities from traditional to online channels they expect things to be completed faster,” said Mike Kennedy, CEO of clearXchange. “This includes financial transactions, particularly those with a need for real-time funds availability such as sending emergency money to kids, paying rent at the last minute or receiving funds for an accident claim or disaster relief. We look forward to offering real-time technology to meet those needs and enable the secure, convenient solutions customers expect from their banks.”
  • MasterCard Continues to Define the Future of Digital Payments with Tokenization Support for App, eCommerce and Recurring Payment Card-on-File Programs - “Merchants continue to innovate in many different and compelling ways for consumers to buy from them, including in app, eCommerce, recurring and subscription-based payment environments. These new experiences all involve storing card numbers,” said Ed McLaughlin, chief emerging payments officer, MasterCard. “We are very excited to announce the extension of our industry-leading MDES program to make all of these merchant shopping environments more secure and convenient for their customers using MasterCard tokens, seamlessly enhancing the systems merchants and acquirers already have in place, and eliminating a significant ‘hassle factor’ for consumers when card numbers change.”
  • MasterCard Becomes First Network to Add Tokenization Support for Private Label Credit Cards for Use in Digital Wallets - “Thanks to our ongoing innovation and strategic partnerships, we are helping shape the future of how private label credit cards work in whichever digital wallet customers choose,” said Margaret Keane, president and CEO of Synchrony Financial. “It was recently announced that our retail partner, JCPenney, will be among the first to offer its private label credit cardholders the ability to checkout with Apple Pay later this year. We are committed to working with our retail partners, MasterCard, and key payments industry players to preserve the benefits of our private label credit cards and patented Dual Cards in third-party digital wallets.”

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 09, 2015

Headline News from PaymentsNews.com - June 9, 2015

On the Web:

  • PayPal’s Dan Schulman aims at millennials' wallets - Fortune - "When PayPal spins off from eBay this summer, its new CEO will be in the thick of the battle to dominate online payments."
  • Apple Pay transactions will be capped at £20, banks admit - BBC - "But banks have told the BBC payments will be capped at £20, similar to existing contactless payments. The limit on contactless debit and credit cards is due to rise to £30 in September."
  • Square Unveils Mobile Wallet-Friendly Credit Card Reader - New York Times - "The new reader, which Square said will be widely available this fall, operates wirelessly for merchants who want to accept contact-less mobile payments. It also accepts so-called EMV enabled credit cards, a technology that includes a chip built into credit cards for added security."
  • Facebook Is Handing Out Free Beacons to Retailers - Re/code.net - "The idea is that beacons — small devices that can send a signal to a person’s smartphone when they get within a certain proximity — can be used to push information and deals to people while they’re in a prime position to make a purchase."
  • Money Isn’t Free, but Moving It Is Now Cheaper - Wall St. Journal - "We are at that transition point in which most of us own checkbooks and wallets as well as smartphones. Now imagine a time when all we have is our mobile device, or a pin-and-chip card and our thumbprint, and every time we want to support our friends, a local business or even foreign revolutionaries, all it costs us is a moment’s consideration."
  • Your bank account: The next thing to go obsolete - CNN Money - "Not only is banking not for everyone, accounts are inaccessible to about half of the world. People are too poor, live too far from a bank or don't have the required documentation. Abra, a new startup, makes banking more accessible while completely cutting out the actual bank."
  • Banking 2025: The Bank of the Future - "Once the number of new users reaches a critical mass, the process of reorganisation is no longer linear and continuous, but advances in bursts and exponentially. This means that, at a certain point in time, the process of system change gains so much momentum that it can hardly be controlled. In view of the inefficiency of the existing banking system as well as the economic superiority of web-based alternatives, it seems that it is only a matter of time before a system change takes place in the banking business."

On the Wires:

  • Visa Amends Rules to Help Airline Industry Reduce Card-Not-Present Fraud - "Visa Inc. announced at a recent meeting of the Airlines Reporting Corporation (ARC)-sponsored Credit Card Working Group (CCWG) that effective October 2015 it will accept airline-supplied flight manifests as a remedy for fraud payment card chargebacks."
  • Apple Pay Coming to the UK - “Apple Pay has quickly become a big part of millions of users’ everyday shopping routines, providing a simpler, faster and more secure way to pay,” said Eddy Cue, Apple’s senior vice president of Internet Software and Services. “We’re thrilled to bring Apple Pay to the UK with support at launch from the most popular banks, an incredible roster of merchants and many of our users’ favorite apps.”
  • Apple Pay Coming To MasterCard Customers in the U.K. from July - "MasterCard is working with several banks, including: HSBC; MBNA; RBS/Natwest and Santander, to enable users of an iPhone 6, iPhone 6 Plus or Apple Watch to use their MasterCard credit, debit or prepaid cards directly through Apple Pay."
  • Apple Pay Coming to Millions of UK Visa Cardholders Beginning in July - Jeremy Nicholds, Executive Director of Mobile at Visa Europe, commented: “Contactless payments are already widely embraced by millions of Visa cardholders across the country every day, so adding the simplicity and convenience of Apple Pay will catapult mobile payments into the mainstream. If people leave the house with one item, it’s their mobile phone – we’ve worked alongside Apple and the various banks involved to give customers a really seamless and exciting new payment experience through Apple Pay, so they have new ways to use their favourite Visa cards on the go and when shopping in the apps they love.”
  • Synchrony Financial Integrates Private Label Credit Cards and Patented Dual Cards with Apple Pay - “Through our ongoing innovation and strategic partnerships, we have developed a mobile platform that we can rapidly integrate across retailers and wallets, continuing to offer our value proposition for Apple Pay users,” said Margaret Keane, president and CEO of Synchrony Financial. “Through this approach, Synchrony Financial is helping shape the future of how private label credit cards work when customers choose to make contactless payments.”
  • TSYS Supports Apple Pay in the U.K. - “TSYS’ support of Apple Pay is a landmark opportunity for us and demonstrates our people-centered approach to payments for all parties in the payments ecosystem,” said M. Troy Woods, chairman, president and chief executive officer, TSYS. “Our number one priority is security for the banks and retailers we serve, so their customers can conduct their lives with confidence and convenience. Apple Pay will change the face of the mobile payments industry and our role in the digital marketplace.”
  • First Data to Support Launch of Apple Pay in the UK - “Following the successful launch of Apple Pay in the U.S. last year, First Data is thrilled to support the launch of Apple Pay in the U.K. to help our clients bring their customers added convenience, security and privacy. First Data has established itself as a trusted enabler of mobile payments, and we are proud to help transform the payments landscape for the benefit of our clients,” said Sanjiv Das, Executive Vice President, Head of International Regions, First Data.
  • Walgreens Launches App for Apple Watch to Support Medication Adherence - "Walgreens also announced today the planned integration of Balance Rewards with Apple Pay, coming this fall to stores with the launch of rewards support for Apple Pay. Beginning this fall, Apple Pay will provide immediate access to Balance Rewards without separately scanning a Balance Rewards card. Balance Rewards members will have the ability to earn and redeem Balance Rewards points via Apple Pay, the easy, secure and private way to pay."
  • Visa Europe: Smart devices on track to replace cash and cards - "According to new research from Visa Europe, consumer adoption of mobile payments will grow faster than ever in the next five years, with six in ten Britons (60%) expecting to use their mobile devices for payments at least once a week by 2020."
  • Apriva, Miura Systems Partner to Deliver Added mPOS Functionality to U.S. Market - “As we’ve seen the U.S. market expand in mobile payments and chip card acceptance begin to take off, we saw a great opportunity to bring the EMV, Contactless and NFC technologies we’ve tested and proven in over 35 global markets to the U.S.,” said Mark Roberts, SVP Sales & Marketing, Miura Systems. “With their vast connections and highly respected products, Apriva provided us with the ideal partner to bring our Chip and PIN ready peripherals to customers in the U.S.”
  • Splunk Cloud Drives Security Monitoring and Threat Detection at Orrstown Bank - "Splunk Cloud gives Orrstown Bank centralized visibility into machine data coming from more than 60 unique data sources across its entire hybrid IT environment that includes on-premises servers, Amazon Web Services servers and Microsoft Azure. With the ability to now analyze this hybrid data together in Splunk Cloud, Orrstown Bank has improved IT operations reliability and can quickly detect anomalous behavior across its performance, application and network data logs."

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 03, 2015

Headline News from PaymentsNews.com - June 3, 2015

On the Web:

  • Glenbrook’s Elizabeth McQuerry is IPFA CEO - PaymentsViews.com (Elizabeth McQuerry) - "Glenbrook is delighted to announce that our partner Elizabeth McQuerry has been named to the position of CEO of IPFA, the International Payments Framework Association. IPFA will play an important role as real-time payments networks around the world start being connected in order to facilitate cross-border payments. Elizabeth will incorporate this work into her ongoing work with Glenbrook on a broad range of international payments projects".

  • Gates Foundation: Lessons Learned About Payments Systems - Ripple Blog - "The Gates Foundation recently published a comprehensive report on designing payments systems for financial inclusion called The Level One Project Guide."

  • NY Financial Regulator Lawsky Releases Final BitLicense Rules for Bitcoin Firms - Wall St. Journal - "The new rules, posted simultaneously on the Department of Financial Services’ website, require certain providers of virtual currency services operating in New York state—in particular, those with custody of customers’ funds and which exchange virtual currencies for dollars and other fiat currencies—to apply for a specially tailored DFS license."

  • Our thoughts on the BitLicense: California is Winning - Coin Center - "The current draft of California’s equivalent legislation, AB 1326, is much better than the BitLicense."

On the Wires:

  • Visa Inc. and Verifone Join Forces to Accelerate Omni Commerce Globally - "As part of the partnership, the companies will integrate industry leading platforms: Verifone will connect its point of sale gateway to Visa’s CyberSource global merchant payment management platform. This will provide merchants with a single platform to protect customer payment data, mitigate fraud, and integrate digital and offline payment systems."

  • Visa and FireEye Join Forces to Help Merchants, Financial Institutions Defend Against Targeted Attacks on Consumer Payment Data - "By combining Visa’s unparalleled view into global payments and FireEye’s industry-leading cyber security expertise, we intend to bring faster, actionable intelligence directly to players across the payments system,” said Charlie Scharf, CEO of Visa Inc. “Although we are leading efforts to render stolen data useless through smart technologies, data security remains foundational for merchants. We’re pleased to be working closely with FireEye, which has been at the front lines identifying and investigating some of the most significant compromises around the world, to provide critical cyber intelligence to merchants and financial institutions.”

  • Payoneer Expands Services in India, Offering Improved Cross-Border Payments from U.S. Companies to Indian Professionals and Businesses - “At Payoneer, we make it our mission to empower global commerce by enabling businesses and professionals to pay and get paid globally as easily they do locally,” said Scott Galit, CEO of Payoneer. “Previously, Indian freelancers, online marketers and other professionals faced high fees and slow transfer times, and our cross-border payments platform directly addresses these challenges.”

  • MasterCard Becomes First International Payments Network to Enter Somalia - “Somalia has made significant strides to rebuild the country and instil peace and stability. Today marks a historic milestone, signalling Somalia’s financial liberation following years of being excluded from participating in the global economy,” says Abdirahman Yusuf Ali Aynte, the Minister of Planning and International Cooperation of Somalia.

  • Bitfinex and BitGo Partner to Create World’s First Real-Time Proof of Reserve Bitcoin Exchange - “We’ve been working with Bitfinex for several months and are impressed by their dedication to security for their users,” said BitGo CEO Mike Belshe. “The industry has been clamoring for exchanges to adopt the multi-sig model, and we’re proud that Bitfinex selected BitGo’s platform to do it. This new level of transparency and security makes breaches such as those of Mt. Gox impossible.”

  • American Express and Starwood Hotels & Resorts Enhance Cobrand Credit Card Benefits - “The SPG Credit Card from American Express has always been a favorite among travel insiders, and the new benefits will deliver even greater value to the ‘always on’ traveler,” said Eva Reda, SVP, Co-brand Partnerships. “We understand what our Card Members want most, and we know the enhanced card will offer the convenience and value they seek.”

  • The Gold Standard Just Got Better; American Express Launches New Dining and Travel Benefits for Premier Rewards Gold Card - “The Premier Rewards Gold Card is the card for people hitting their stride in life and defining their own success. They seek and strive for the gold standard in their personal and professional pursuits. They’re making moves in their careers, but also prioritizing family and friends,” said Lisa Durocher, senior vice president, Consumer Charge Cards & Benefits at American Express. “Whether they’re traveling, dining out or cooking at home, the Premier Rewards Gold Card now gives them even richer rewards, with the flexibility, service, and security they need to keep life moving forward.”

  • U.S. Bank Upgrades Its Corporate Payments Mobile App - "Users can now request virtual card accounts and have them delivered right to their mobile devices to make payments."

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

June 02, 2015

Headline News from PaymentsNews.com - June 2, 2015

On the Web:

  • Sympathy for the Biller – the Unsung Masters of Payments Complexity - PaymentsViews.com (Erin McCune) - "As billers expand their payment acceptance offerings to include in-person transactions, mobile payments, as well as one time and recurring payments online, the back office effort to accurately apply payments to consumer accounts and reconcile incoming bank deposits will demand more time, IT resources, and payments expertise. Billers are increasingly seeking solutions that minimize this data-handling overhead."
  • Pinterest Is Announcing Buyable Pins And A Partnership With Stripe - ReadWrite - "Pinterest is announcing a product called Buyable Pins, which builds on Pinterest's existing Rich Pin features."
  • Biggest MasterCard Issuers Scuttled Deal on Target Data Breach - Wall St. Journal - "The three banks decided to quash the pact that was negotiated on the industry’s behalf by MasterCard because they thought it was too small to cover their losses in the incident, the people said."

On the Wires:

  • International Payments Framework Association appoints new CEO and launches Instant Payments Initiative - "Elizabeth McQuerry, a partner in the US payments consulting firm Glenbrook Partners and a former IPFA member representative of the Federal Reserve's Retail Payments Office, has been appointed as the new CEO of the association. She will take up this position with immediate effect. She takes over from Arthur Cousins who had shepherded the group since its founding in February 2010."
  • Intel Joins FIDO Alliance and Board of Directors to Support Advancement of Online Strong Authentication and Move Beyond Passwords - "As our digital lives become increasingly personal and connected, maintaining secure, reliable authentication across multiple devices and access points is becoming completely unwieldy. We are excited to collaborate with other industry leaders in the FIDO Alliance to develop simpler and more secure solutions to authenticate users and to eliminate the need for passwords over time," said Mark Hocking, vice president and general manager of Safe Identity at Intel Security.
  • Live Gamer Re-Launches as Emergent Payments - "There is a significant opportunity for digital businesses in emerging markets -- which closely mirrors the success of the digital gaming industry in being able to monetize on a global basis," said Andrew Schneider, Co-Founder and President, Emergent Payments. "Seizing this opportunity, however, is often more complicated than it seems..."
  • Oink Introduces Mobile Peer-to-Peer Payments - “The mobile peer-to-peer market is expected to reach $86Bn in the US as it solves a real pain point for consumers,” said Dr. Jo Webber, CEO and founder of Oink. “The 11 to 21 year-old audience needed a more modern banking solution, with real-time access and control, and we have delivered it.”
  • Intuit: Chip Cards Coming: How Small Businesses Can Prepare - “The biggest barriers for small businesses to become EMV-compliant are cost and lack of time or resources required to research terminals,” said Eric Dunn, Intuit's senior vice president for payments and commerce solutions. “We want them to know we’re beside them on this journey to a more secure payments infrastructure, and are providing an affordable solution as well as equipping them with resources to ease any burdens.”

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 28, 2015

Headline News from PaymentsNews.com - May 28, 2015

On the Web:

  • Pay your way with Android - Android Official Blog - "Things are more interesting when we create them together. So we’ve approached Android Pay the same way we approach every other part of the Android family -- partnering with the ecosystem -- bringing together mobile carriers, payment networks, banks and retailers to deliver you choice and flexibility. And offering developers an open platform to collectively push mobile payments forward."
  • A Primer on Android Pay and Google Wallet - New York Times - "Both Android Pay and Apple Pay are perhaps a larger affront to PayPal, which for years has been the leader in digital payments."
  • Google Unveils Apple Pay Rival - Wall St. Journal - "It isn’t clear how Google will get paid for the Android Pay service. An executive and a spokeswoman at the company said Thursday that the goal is to make Android phones more useful. The spokeswoman declined to comment further."
  • Google and Apple Adjust Strategies on Mobile Payments - New York Times - "The battle for mobile software dominance revolves around two companies: Apple and Google. Now both giants are also going head-to-head in mobile payments, as they prepare to push deeper into digital wallets."
  • Target Wants To Offer Apple Pay, But Focus Is On Chip And Pin - TechCrunch - “People in our space are under attack,” said Cornell, explaining that he didn’t want to distract the team rolling out their chip and pin upgrades to all of their stores by adding in additional variables like Apple Pay.
  • Here’s why finance is about to be disrupted - O'Reilly Radar - "Despite huge technological change and a series of financial crises, the league table of the largest financial firms today, both in the U.S. and around the world, remains much the same as it has always been."

On the Wires:

  • Visa Announces New Commercial Standard for Mobile Payments - "Visa Inc. today announced a new program that connects financial institutions and technology companies to simplify and accelerate the roll-out of new payment and commerce services. Visa's new Digital Enablement Program (VDEP) builds on the company's secure token technology and adds a turn-key, toll-free commercial framework accessible to more than 14,500 Visa financial institution clients and leading technology partners around the world. Google, with its Android Pay payment solution, is Visa's first international program partner."
  • MasterCard Powers Android Pay, Bringing Mobile Payments to Android Device Owners - “Mobile payments are here today, and are now an essential part of the core value proposition for new devices,” said Ed McLaughlin, Chief Emerging Payments Officer, MasterCard. “With the MasterCard Digital Enablement Service (MDES) and Android Pay, we can now use secure tokens to easily enable payments from a consumer’s connected device. Today’s news extends consumer choice and drives further ubiquity of payments on devices.”
  • Android Pay is Coming to Discover Cardmembers - “Discover’s goal is to provide our customers the freedom, options and simplicity of making mobile payments with whatever method they choose. Adding Android Pay expands Discover’s ability to enhance the convenience and experience for its mobile users,” said Heather Roche, vice president of rewards at Discover.
  • U.S. Bank Customers Will Soon Be Able to Add Their Cards to Android Pay - “We’re proud to be helping our customers tap into exciting new ways to pay,” said Shailesh Kotwal, vice chairman and head of U.S. Bank Payment Services. “Android Pay gives our customers added value by providing another way to use their U.S. Bank credit and debit cards to pay for purchases with their mobile devices.”
  • USAA Members Among First to Benefit from Android Pay - “We’re committed to delivering simple and secure payment experiences for our members, which is why we are moving so quickly to integrate our cards with Android PayTM,” said Vikram Parekh, assistant vice president of credit card development at USAA. “Android PayTM is opening up the mobile payment experience to Android users.”
  • Silicon Valley Bank and MasterCard Introduce Latest Commerce.Innovated. Class - "We're thrilled to launch the next class of the Commerce.Innovated. program," said Reetika Grewal, Head of Silicon Valley Bank's payments strategy. "There continues to be a tremendous amount of innovation in the commerce sector and we are excited to be working with these amazing, early stage companies. Our unique, operationally-focused program is designed to help these remarkable entrepreneurs grow their businesses quickly and find the resources that they need in order to achieve their next milestone."
  • Visa’s Updated Statement on FIFA - "Our disappointment and concern with FIFA in light of today’s developments is profound."
  • SWIFT opens The KYC Registry to funds distributors and custodians - "Fund distributors and custodians face similar challenges to banks with KYC due diligence,” says Mark Gem, Head of Compliance at Clearstream and Chair of the SWIFT Securities Compliance Working Group. "I am pleased that SWIFT is extending the reach of The KYC Registry, building upon its momentum in correspondent banking."

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!

May 19, 2015

Headline News from PaymentsNews.com - May 19, 2015

On the Web:

  • A bitcoin miner in every device and in every hand - Medium (Balaji Srinivasan) - "21 is now officially open for business — and business development. After much hard work, we’ve created an embeddable mining chip which we call the BitShare that comes in a variety of form factors. The 21 BitShare can be embedded into an internet-connected device as a standalone chip or integrated into an existing chipset as a block of IP to generate a continuous stream of digital currency for use in a wide variety of applications."
  • How Silicon Valley Joined the Bitcoin Gold Rush - FastCompany - "Wences agreed with Hoffman that Bitcoin was unlikely to be catch on as a payment method anytime soon. But for now, Wences believed that Bitcoin would first gain popularity as a globally available asset, similar to gold. Like gold, which was also not used in everyday transactions, Bitcoin’s value was as a digital asset where people could store wealth."
  • NYSE Launches Bitcoin Index Powered by Coinbase - Coinable Blog - "Today the New York Stock Exchange launched the NYSE Bitcoin Index (NYXBT), a benchmark for the daily price of bitcoin. NYXBT represents the U.S. Dollar value of one bitcoin, based on transactions occurring on Coinbase Exchange and other select bitcoin exchanges."
  • Leaderless Bitcoin Struggles to Make Its Most Crucial Decision - MIT Technology Review - "Under the one-megabyte-per-block limit, the network can process only about three transactions per second. If Bitcoin becomes a mainstream payment system, or even a platform for all kinds of other online business besides payments (see “Why Bitcoin Could Be Much More Than a Currency”), it’s going to have to process a lot more. Visa, by comparison, says its network can process more than 24,000 transactions per second."
  • Digital Gold - AVC (Fred Wilson) - "A lot of people ask me “are you still bullish on Bitcoin” and that question irritates me. Because it suggests that Bitcoin is simple. Bitcoin is not simple, it is not going away, and it continues to fascinate me more than almost anything out there in the tech sector."
  • Why banks (and PayPal) don't simplify - Financial Services Club Blog - "A bank cannot compete with a specialist who is simplifying a marketplace or financial activity, because an incumbent bank's systems and structures are usually too rigid, old and inflexible to change. That is why the new entrant simplifier can create P2P credit at less than 100 basis points differential (1% difference between their lending and savings rates) compared to a bank's 400 basis points or more. A bank has to cover the costs of their heritage buildings, people and infrastructure. A start-up has none of that legacy or overhead."

On the Wires:

  • NACHA Membership Approves Same Day ACH - “The financial services industry has come together through private-sector rulemaking to increase the speed of payments,” said Janet O. Estep, president and CEO of NACHA. “Same Day ACH serves as an immediate action the industry has undertaken to modernize the payments system, and creates a building block for a variety of products and services. Same Day ACH creates value for end users through the certainty of its reach to all bank accounts in the U.S.”
  • MasterCard Makes Sending and Receiving Money Faster, Easier and More Secure with MasterCard Send - "Through a single connection to the MasterCard Send platform, businesses, merchants, governments, non-profits, issuers and other senders can send money to consumers whether they are banked or unbanked, and located domestically or abroad. By digitizing personal payments that are typically handled via cash or check, MasterCard is providing greater convenience, choice and security to both payment senders and receivers in developed and developing markets."
  • Visa Checkout Announces Enrolled Customer Conversion Rate of Nearly 70 Percent - "A new report from comScore* found that Visa Checkout shoppers convert to online buyers at a rate of 69 percent. This is likely because Visa Checkout customers complete online transactions faster than other shoppers who have to re-enter card and shipping information every time they want to purchase in the traditional check out flow."
  • QuickBooks Online Gets in Sync with PayPal - “Our collaboration with PayPal, and the app we’ve built as a result, further broadens our thriving payments ecosystem,” said Eric Dunn, Intuit's senior vice president for payments and commerce solutions. “Intuit is committed to delivering a range of personalized best-in-class payments solutions for small businesses. Our open platform allows small businesses to use the tools of their choice and therefore operate efficiently in a frictionless environment.”
  • Ripple Labs Closes $28 Million Series A Funding Round - "Ripple Labs, the global leader in distributed payments technology and supporters of the Ripple protocol, today announced that it closed a $28 million Series A funding round that includes IDG Capital Partners and the venture arms of CME Group and global data storage company Seagate Technology. Other new investors include Jerry Yang's AME Cloud Ventures, ChinaRock Capital Management, China Growth Capital, and Wicklow Capital, the investment vehicle for Dan Tierney and Stephen Schuler, co-founders of GETCO (now KCG)."
  • New Ponemon Institute Survey Reveals Time to Identify Advanced Threats is 98 Days for Financial Services Firms, 197 Days for Retail - “The big takeaway from our research is that more investment is needed in both security operations staff and in security tools, which can help companies efficiently and accurately detect and respond to security incidents,” said Dr. Larry Ponemon, chairman and founder, Ponemon Institute. “The time to detect an advanced threat is far too long; attackers are getting in and staying long enough that the damage caused is often irreparable.”

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 05, 2015

Headline News from PaymentsNews.com - May 5, 2015

On the Web:

  • Faster Now Faster? - PaymentsViews.com (Carol Coye Benson) - "Today I want to express my enthusiasm about these developments, beam encouragement at the industry, and advocate for a few additional points that I think are important in the design phase."
  • MasterCard’s New Chief Commercial Officer Taking Digital Payment Tech Beyond Lab - Wall St. Journal - "Betty DeVita, former president of MasterCard Canada, starts Tuesday, charged with commercializing ideas that come out of MasterCard Labs, a technology research group started in 2010. Among her first priorities will be Qkr, a payments technology that lets consumers place orders and pay bills with a MasterPass digital wallet."

On the Wires:

  • Widespread UK launch of V.me by Visa - Kevin Jenkins, managing director UK & Ireland at Visa Europe commented: “The UK is the European leader of online commerce with a valuable and diverse range of companies that conduct business online. This announcement is a further proof point of our ability to innovate, building on our market success in contactless. We’re excited to be working with our member banks and many of the UK’s leading retailers to do this and look forward to new partners coming on board.”
  • MasterCard Supports U.S. Small Businesses Making Big Shifts to Chip Cards - “Chip cards all but eliminate counterfeit fraud. We know this because we’ve seen significant fraud reductions in all 80+ countries where EMV has been implemented,” said Carolyn Balfany, senior vice president of Product Delivery – EMV, MasterCard. “The power of chip is realized as more cards and terminals are enabled and used. The goal isn’t to move card fraud around the system. The goal is to drive card fraud out of the U.S. – benefitting banks, merchants and, most importantly, consumers.”
  • Boku Launches on Google Play in the Middle East“By connecting with Boku, Zain KSA brings tremendous value to their subscribers who want a trusted and seamless way to purchase their favorite Google Play content,” said Boku CEO Jon Prideaux. “Given our leading market position, Boku is well positioned to extend this partnership to other carriers across the globe. The opportunities for carriers are truly limitless when a company with Boku’s global footprint integrates with one of the world’s most popular app stores.”

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 04, 2015

Headline News from PaymentsNews.com - May 4, 2015

On the Wires:

  • American Express Launches New Plenti SM Cobrand Credit Card and Membership Rewards® Points Transfer Relationship - "Plenti is the first loyalty coalition involving major U.S. brands that lets consumers earn Plenti points at one place and use them for savings at another. Partners include many of the places where customers shop and spend every day, such as AT&T, Exxon, Macy’s, Mobil, Nationwide, Rite Aid, Direct Energy, Enterprise Rent-A-Car and Hulu."
  • Plenti℠ – First US Coalition Loyalty Program Available Now - "Plenti members can use any form of payment that the partner accepts at checkout – cash, credit, debit or prepaid. This means that if they have a card product with other rewards benefits, they’ll earn those rewards in addition to the points collected through Plenti."
  • Visa Launches Online Toolkit to Educate Business Owners on Benefits of Chip Technology - “Chip technology will bring an important new layer of security for credit and debit cards by helping to make stolen account information useless to criminals,” said Stephanie Ericksen, vice president of Risk Products, Visa Inc. “It is a priority to increase merchant awareness and understanding, given a liability shift in October 2015, after which merchants who are not ready to accept chip cards may be responsible for counterfeit fraud.”
  • Payment Security Task Force: Issuers Forecast U.S. Shift to Chip Cards To Be Nearly Complete by 2017 - "Eight financial institutions, representing approximately 50 percent of the total U.S. payment card volume, estimate that 63 percent of their credit and debit cards will contain EMV chips by the end of this year, expanding to 98 percent by the end of 2017. The forecast reaffirms the ongoing commitment to chip migration as a step toward increasing U.S. payment security across the ecosystem."
  • MasterCard Business Network 2.0: For U.S. Business Owners, It’s About Time…And Money - “Business owners have a split second to switch from being the CTO to the CFO to the CMO of their companies. MasterCard Business Network 2.0 helps save time by putting c-suite level information at business owners’ fingertips, all just a click away,” said Jay Singer, senior vice president of U.S. Commercial Products, MasterCard. "We give business owners the information they need, at the moment they need it, helping their businesses grow. And we are now offering these tools at significant savings."
  • FIS Reinvents Banking Access in India, One ‘e-Lobby’ at a Time - “Karnataka Bank’s mission is to serve our customers in a technologically savvy, high-quality manner,” said Sri. P. Jayarama Bhat, managing director & chief executive officer, Karnataka Bank. “Not only will FIS’ support allow us to better focus on our customers, it also will make us one of the first mid-sized banks in India to provide e-lobby access, extending more convenient access to our customers and allowing us to better compete with larger banks.”

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 01, 2015

Headline News from PaymentsNews.com - May 1, 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!

April 30, 2015

Headline News from PaymentsNews.com - April 30, 2015

On the Web:

  • New Circle Investors, New US Dollar Account Features, China Horizons - Circle Blog - "Today we announced a major step forward in the execution of our vision and product strategy. We've closed a new $50 million strategic investment round co-led by Goldman Sachs and IDG Capital Partners."

  • This Digital Wallet Could Finally Get You Into Bitcoin - "In other words, the Circle wallet will soon work just like Venmo or any other money-transfer app, except it also works seamlessly with bitcoin, so you can handle your money in the form you value the most."

  • Capital One exec predicts mass shift to Apple Pay this year - Mobile Commerce Daily - “I really believe we’re going to have this mass shift over to contactless payments,” Mr. Moreton said. “What you see is this huge change over a relatively short period of time.”

  • In Code We Trust - New York Times Magazine - "One way to understand this chaos is to see that power is shifting. The authority to create, move and define money — once confined to central banks and treasury departments — is being dispersed to an odd mix of entrepreneurs, libertarian hackers and old-line banking institutions."

  • Financial Giants Set Up Tech Hubs in Manhattan - Wall St. Journal - "MasterCard is one of several big-name financial services firms that are opting to set up tech divisions in prime Manhattan real-estate markets outside of their headquarters because many increasingly see themselves more as technology companies."

  • Online hackathon seeks to build solutions using Aadhaar app interface - Business Standard - "AngelPrime, a seed-stage venture capital fund based in Bengaluru, and Nasscom, in collaboration with UIDAI, will host the first of its kind online 'Aadhaar Application Hackathon' in June this year. The hackathon aims to encourage and promote the development of applications using the Aadhaar application programme interfaces (APIs)."

  • Bitcoin Could Impact Credit Unions, Report Says - CoinDesk - "...we could see the proliferation of a host of new financial services backed by bitcoin, many of which are directly associated with the core businesses of credit unions today."

On the Wires:

  • Visa Inc. Reports Fiscal Second Quarter 2015 Net Income of $1.6 billion or $0.63 per Diluted Share - “Visa reported another solid quarter of financial results against the continued backdrop of a tepid global economy. While the negative impacts from the strengthening of the U.S. dollar and lower gasoline prices continued to exert pressure on revenue growth, our results and volume trends have remained strong,” said Charlie Scharf, Chief Executive Officer of Visa Inc.

  • Visa Expands Global Technology Research; Hires Senior Scientist to Lead Visa Research Labs - “Digital commerce is rapidly evolving due to the introduction of new technologies. As the world becomes more connected, every device, car, or appliance becomes a place where secure digital commerce can take place,” said Rajat Taneja, Executive Vice President, Technology, Visa Inc. “I am excited to expand our technology research efforts and have Min lead Visa Research Labs. This effort has the potential to shape the way we pay and get paid in the future, and transform the lives of millions of unbanked consumers by finally providing them with access to secure digital commerce.”

  • MasterCard Named Exclusive Card Processor by Green Dot Bank - Green Dot Chief Operating Officer, Kuan Archer said, "Our processing technology team has been working closely with MasterCard for the past 15 months on the integration of our two technology platforms. While certainly this project has required a significant amount of time and effort, we believe the ultimate end-state of having the most state-of-the-art, high-scale processing platform underpinning our current and future suite of modern banking products and mobile solutions will pay off in terms of our ability to create new, innovative products and services."

  • Visa: Payments Industry Moves to Help Simplify Chip Card Acceptance - "The Payments Security Task Force today joined with the PCI Security Standards Council and the EMV Migration Forum to launch a chip education curriculum and “pre-qualification” program to help streamline and simplify the EMV testing and certification process for Value Added Resellers (VARs) and Independent Software Vendors (ISVs). ... To learn more about the educational efforts, visit
    http://www.emv-connection.com/chip-education-for-vars-isvs-and-merchants/

  • Stratos Card Begins Shipping In April - "Stratos Card combines credit, debit, membership, gift and other magnetic stripe cards in one digital Bluetooth card."

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 29, 2015

Headline News from PaymentsNews.com - April 29, 2015

On the Web:

On the Wires:

  • MasterCard Incorporated Reports First-Quarter Financial Results - “We are managing well, despite a mixed economic environment and challenging currency situation,” said Ajay Banga, president and CEO, MasterCard. “The underlying fundamentals of our business remain unchanged, driving our ability to sign new agreements with Citi and Itaú, work with digital giants and expand our support of the merchant community. This, combined with our focus on costs, allowed us to continue to deliver solid results in the first quarter.”
  • Merchant Customer Exchange (MCX) Appoints Brian V. Mooney Chief Executive Officer - "Mooney was most recently CEO and a board member of Bank of America Merchant Services, one of the largest U.S. merchant payment acquirers, serving a significant segment of large U.S. merchants and handling billions of transactions."
  • Banking with a Fingerprint: Digital Insight Offers Touch ID to Access Finances - “Touch ID frees consumers from having to enter their username and password in order to access their finances,” said Dan Weis, senior product manager at Digital Insight. “The speed and ease-of-use of Touch ID will provide financial institutions another innovation to offer their customers and members and further help them differentiate in the marketplace.”
  • Patent Trial and Appeal Board Grants PQI’s Requests for Review of Three Patents Related to Loyalty Programs - "In October, Askeladden filed six IPR petitions requesting review of the three patents, U.S. Patent Nos. 8,297,502, 8,523,063 and 8,540,152, on the grounds that they are invalid. The PTAB issued decisions on April 23, 2015, which found that Askeladden’s petitions established a reasonable likelihood that each of the claims in each of the patents is invalid. A final decision on invalidity is expected within one year."
  • Introducing Amazon Business: Everything You Love About Amazon, For Your Business - “We’ve heard from business customers that they love the convenience of shopping online, and want an experience at work that is similar to how they shop at home,” said Prentis Wilson, Vice President of Amazon Business. “Amazon Business delivers a new and expanded marketplace that brings the selection, convenience and value of Amazon to business customers, manufacturers and sellers with the additional selection, features and back-end integration businesses need to save time and money.”
  • Western Union and U.S. Bank Extend Relationship - Carter Hunt, Senior Vice President and General Manager, Western Union U.S., said, “We are pleased to extend our relationship with U.S. Bank, and we remain committed to bringing customers the high level of customer service and innovation they have come to expect from our company.”

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 27, 2015

MasterCard Announces Acquisition of Applied Predictive Technologies

MasterCard logo 140pxAfter today's market close, MasterCard announced it was acquiring Applied Predictive Technologies (APT) for $600 million.

Applied Predictive Technologies is a leading cloud-based analytics provider. APT’s Test & Learn® platform helps companies tailor investments and maximize bottom-line impact by harnessing analytics to design, measure and calibrate marketing, merchandising, operations and capital initiatives.

This acquisition advances MasterCard's agenda to deliver differentiated services to merchants, complementing its recent acquisition of 5One, a London-based retail consulting and analytics firm. As part of the company's services portfolio, Applied Predictive Technologies will now have access to MasterCard's analytics suite, consulting capabilities, marketing services and global footprint that will expand its reach and value.

“In today’s competitive business climate, companies need analytics that are easy to use and drive action,” said Kevin Stanton, president of MasterCard Advisors. “APT’s world-class talent, technology and Test & Learn platform, matched with MasterCard’s analytics, will give our customers the advantage of enhanced and actionable decision making.”

April 17, 2015

Headline News from PaymentsNews.com - April 17, 2015

On the Web:

  • Square’s Jack Dorsey Puts It All Together - BuzzFeed News - "Once a media darling, he hasn’t spoken on the record to the tech press since a New York Times interview in December of last year. It’s not that he’s been hiding, exactly, but he has lowered his profile considerably."
  • PayPal, OFAC, and why regulators play rough - WePay Blog - "When OFAC comes down, they come down hard. In PayPal’s case, that multi-million dollar fine came as the result of less than $50K in transactions over a period of years."
  • Accidental Apple Pay triggers: When iPhone and NFC don't get along - iMore - "But would it be too hard to have a "Dismiss" software button in the top right corner, in case Apple Pay is triggered accidentally? Or keep NFC from working when Airplane mode is enabled?"
  • Could the Chip Card Transition Lead to More Online and Small-Merchant Fraud? - n>genuity - Going forward, the trick will be keeping the checkout process both easy and secure, says George Peabody, a partner at Glenbrook Partners. "The challenge is friction from a checkout point of view. If merchants are looking for security perfection, then they are going to be turning away good sales."
  • PayPal Wants You to Inject Your Username and Eat Your Password - Wall St. Journal Digits - "In an interview with The Wall Street Journal, Mr. Leblanc said that passwords were broken, and that it was time to replace the concepts and methods of username and password verification."

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!

April 16, 2015

Headline News from PaymentsNews.com - April 16, 2015

On the Web:

  • A Stanford professor claims to have invented a Bitcoin-like system that can handle payments faster and with more security - MIT Technology Review - "Stanford professor David Mazières thinks he has a faster, more flexible, and more secure alternative. If Mazières is correct, his technology could make digital payments and other transactions cheaper, safer, and easier—particularly across borders. He released the design for his system in a white paper last Wednesday."
  • Bitcoin and the Cypherpunks - Reason.com - "Decentralized peer-to-peer marketplaces became technically possible only in 2009, when a shadowy figure calling himself Satoshi Nakamoto gave the world a new form of virtual currency called Bitcoin. More than just a new form of money, Bitcoin is also a protocol, or system for managing information, that has the capacity to undergird—and revolutionize—much of the Internet."
  • Former Yahoo Exec Appointed COO of Ripple Labs - CoinDesk - "Ripple Labs has appointed former Yahoo and AOL executive Brad Garlinghouse as its new COO."
  • How Do Speed and Security Influence Consumers' Payment Behavior? - Federal Reserve Bank of Boston - "This brief draws upon new data from the 2013 Survey of Consumer Payment Choice and employs econometric modeling and simulation to complement FRFS-commissioned market research on end users' preferences."
  • U.S. Consumer Holdings and Use of $1 Bills - Federal Reserve Bank of Boston - "This report examines the $1 bill holdings of adults in the United States using data from the Diary of Consumer Payments Choice (DCPC)."

On the Wires:

  • American Express and Jawbone Partner to Launch UP4 – The First-Of-Its-Kind Fitness Wearable with Built-In Amex Payments Technology - "In partnership with Jawbone, a leader in advanced fitness trackers, we have created a seamless payment experience all in the tap of a wrist," said Leslie Berland, executive vice president, Digital Partnerships and Development at American Express. "We believe this unique technology will delight our active, digitally-savvy Card Members in a powerful way and drive a new type of engagement at hundreds of thousands of merchant locations nationwide.”
  • Target Announces Settlement Agreement with MasterCard - Scott Kennedy, President, Financial & Retail Services at Target, stated “We are hopeful that Target’s agreement to pay up to $19 million to settle the claims of MasterCard and its issuers will result in a high level of issuer acceptance. Target intends to continue to defend itself vigorously against any assessments made by MasterCard on behalf of MasterCard issuers that do not accept their offers.”
  • National Geographic and First Bankcard Launch New Visa® Card with Exclusive Discounts, Special Access and Member Benefits - “For more than a century, National Geographic explorers and photographers have traveled the world to capture stunning images and collect compelling stories,” said Krista Newberry, National Geographic’s senior vice president of licensing, North America. “Together with First Bankcard, we’ve created an innovative program that encourages consumers to explore with us by providing meaningful travel benefits, unique access to our content, membership benefits and relevant discounts."
  • PayPal: Strong American Dollar Driving European Travel - “Our research found that one in five (21 percent) of Americans are considering a trip to Europe and nearly half of those travelers cite the strengthening dollar as a factor in their decision-making (47 percent),” said Carey Kolaja, Vice President, Head of Global Consumer Products at PayPal. “Yet, for many, international travel is still a daunting concept – shrouded by the mysteries of currency exchange rates, foreign transaction fees and financial safety. As a leading global payments processor, PayPal is uniquely positioned to help alleviate concerns, making planning a trip to Europe as simple, seamless and secure as going to the local grocery store.”

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 15, 2015

Headline News from PaymentsNews.com - April 15, 2015

On the Web:

On the Wires:

  • Ingenico Group Enables Long John Silver’s to Deploy an End-to-End Secure Payment Solution Combining EMV and Point-to-Point Encryption - “As we prepared for the advent of chip-based cards, we also wanted to implement a solution with point-to-point encryption (P2PE) to provide bulletproof security over our customers’ cardholder data, while also easing the process of meeting increasingly complex PCI requirements,” said Craig Daniel, chief financial officer for Long John Silver’s.
  • NCR Signals Massive Makeover to Banking with Highly Secure Cloud-Based ATM Software Platform - “NCR’s Kalpana software is the most disruptive change to the ATM ecosystem in decades. Business and consumer applications are increasingly turning to enterprise or cloud-based solutions that reshape security and enable fast, nimble and dynamic customer experiences,” said Andy Heyman, president, NCR Financial Services. “Kalpana software is ideal for financial institutions and independent ATM deployers looking to improve security, quickly advance service delivery through technology, and reshape their cost to serve.”
  • Trustonic and Mobeewave Partner to Provide Unprecedented Security Level in Mobile Payment - "Up to now mPOS solutions have not completely secured the interaction with consumers on mobile devices unless merchants used add-on devices. Now, just by downloading the Mobeewave mPOS application into merchant mobile devices supporting the Trustonic technology, the consumers will be able to securely tap their contactless card or smartphone against the merchant’s mobile device. The Trustonic TEE technology secures the interaction with the cardholder on the merchant’s device itself by leveraging the Trusted User Interface."

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 13, 2015

Headline News from PaymentsNews.com - April 13, 2015

On the Web:

On the Wires:

  • InstaMed Delivers Apple Pay to Healthcare - “Approximately 20 percent of consumers have unpaid healthcare bills as a result of confusion in the payments process. This will only grow as more and more consumers continue to enroll in high deductible health plans,” said Chris Seib, CTO and Co-Founder of InstaMed. “To resolve consumer confusion and rising bad debt, the healthcare industry must deliver a simple, secure and private payment process with innovative technology, including Apple Pay."
  • YapStone Names Daniel Issen as Chief Technology Officer - “We are thrilled to have Daniel join as YapStone’s CTO. He brings impressive technology and payments experience from his roles at past companies, including Amazon, Google, PayPal and eBay, and he’ll be instrumental to our growth,” said Tom Villante, Chairman & CEO and Co-Founder of YapStone.

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!

April 08, 2015

Headline News from PaymentsNews.com - April 8, 2015

On the Web:

On the Wires:

  • Apple Pay Coming Soon to You: New Banks & Credit Unions Implement Mobile Payment Service for MasterCard Cardholders - “People are passionate about their devices and they’re ready for their connected devices to do more – including acting as a commerce device – as is evident by the positive reception and uptake of Apple Pay,” said Matt Barr, group head, U.S. Emerging Payments MasterCard. “Consumers want to be able to shop where they want, when they want and how they want – and they want to do so with the confidence that their money is safe and secure no matter how they choose to pay. Issuers are delivering on this by enabling their cards within emerging payment platforms like Apple Pay that deliver consumer choice.”
  • U.S. Bank Offers Prepaid Card Services for the American Red Cross - “Our prepaid card conversion to U.S. Bank will enable the American Red Cross to leverage technology in new ways,” said Steve Casey, corporate treasurer of the American Red Cross. “Most importantly, this new card technology will help the Red Cross deliver its mission more efficiently in communities across the country.”
  • Western Union Enables Skype Customers to Top up at Locations across the U.S. - Western Union’s Odilon Almeida, President, Americas and European Union, said, “The relationship is a logical one, as both Western Union and Skype have a mission to connect people when they are apart. “Western Union is optimizing its money transfer system to link cash and digital for money movement and payments across the globe. We are driving our innovation on the back of what our customers want. Skype is a classic example; where customers can enjoy full digital access with a walk-in payment option,” he said.

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!

April 06, 2015

Headline News from PaymentsNews.com - April 6, 2015

On the Web:

  • Wal-Mart Treasury Exec: Chip & Signature is ‘Worthless’ - AFP - "During a presentation at the Electronic Transaction Association’s Transact conference in San Francisco last week, Mike Cook, senior vice president and assistant treasurer for Wal-Mart, called signature “worthless as a form of authentication” and criticized the rollout of chip-and-signature cards in the United States."
  • More Prepaid Debit Cards Come Without Monthly Fees - Wall St. Journal - "A new survey released Monday by Bankrate.com found that prepaid debit cards are carrying fewer fees and offering customers more chances to avoid additional costs that may be tacked onto the account."
  • FacePay? - TechCrunch - "What if buying something was as easy as Liking it? You’d probably buy a lot more, and buy it through whoever made it so damn simple."
  • Big Investor Involvement Could Boost Bitcoin - Wall St. Journal - “They are all very interested, but it comes down to having some kind of regulatory clarity as well as to the technology available—whether you have something they feel is trustworthy, whether you have a big enough capital base, whether you have good enough technology...”
  • Hacking ATMs, Literally - Krebs on Security - "An ATM technician and KrebsOnSecurity reader shared photos of a recent attack in which three would-be robbers went to town on a wall-mounted cash machine with crowbars and hammers."
  • No cash, no cards - digital currencies and mobile wallets are the future of retail banking - Zawya - "At some stage there will be no cash, no cards, just mobile wallets - everything will be online. Finally digital currencies like Bitcoin, will dominate, at present there are 50,000 transactions a month resulting in billions of dollars of digital currency."
  • Is Mickey Mouse showing us the future of credit cards? - CreditCards.com - "About a year ago, Disney World began offering what it calls "MagicBands" to its annual pass holders and to guests staying at Disney resorts."

On the Wires:

  • Elavon Strengthens its Suite of EMV Offerings with Commerce SDK, Now Enhances Consumer Payment Experience with Apple Pay™ Powered by talech and Ingenico - "The Commerce SDK comprehensive kit accelerates a business’ ability to implement a secure, EMV-compliant payment solution by combining Elavon’s global payment processing, EMV certification coding, encryption and tokenization implementation and hardware support for printers, terminals and mobile devices into one package that is easy to integrate."
  • Brink’s and NetSpend Launch Brink’s Prepaid MasterCard - “Prepaid cards empower those without traditional banking relationships by equipping them with the tools, resources and education to take control of their financial lives and spend responsibly,” said Jeff Feuerstein, group head, U.S. Prepaid, MasterCard. “Access to reputable prepaid offerings from trusted brands such as Brink’s provide cardholders the opportunity to take advantage of all the benefits of electronic payments, including having a secure and convenient means of making purchases, tracking spending, setting budgets and more.”

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!

March 31, 2015

Headline News from PaymentsNews.com - March 31, 2015

On the Web:

  • Apple Pay Running Into Hurdles at Checkout Counter, Survey Finds - Bloomberg Business - "The majority of people who used Apple Pay said they did so because it was faster than a traditional credit card. Almost 60 percent they were using it because “it’s new, stylish or cool,” while 58 percent said they thought it was safer than a normal credit card."
  • Square Wants to Become a Platform — Here’s Why that Matters For Small Businesses - StreetFight - "Now, with millions of small businesses already using its application to process payments, the company needs to navigate through a complex and crowded small business software market to build a platform from which merchants can run their business."
  • The Most Important Question for Launching Your Digital Platform - MasterCard Blog (Ed McLaughlin) - "It was quite a trip down memory lane to revisit our strategy for launching and growing that business. Even more striking is how the same principles we applied online in the first-wave of internet use are even more vital to launching a new platform today, in a world where digital convergence is radically altering the day-to-day experiences, preferences, and habits of consumers."

On the Wires:

  • MasterCard Easy Savings® Program and Rakuten.com Provide Millions of Ways for Small Businesses to Save - “Easy Savings was built to make savings on everyday needs stress-free and simple—all you have to do is use your eligible MasterCard business card,” said Jay Singer, senior vice president, North America commerical products. “With the broad selection of goods and merchants that Rakuten.com offers and the services that BizEquity provides, we can now deliver even more value to our small business cardholders enrolled in the program.”
  • Moneris to work with Verifone as Exclusive Provider for its Countertop Terminal Solutions in United States - “We’re pleased to be able to work with Verifone as a key partner in our work to help U.S. merchants transition to EMV-enabled payment devices,” said Chris Lee, president, North American strategic partnerships and emerging markets. “Verifone is a leader in next generation EMV solutions and the VX 520 offers merchants a cost-effective, durable, feature-rich product that can manage everything from EMV to contactless payments.”
  • Criteo Report Reveals Consumers Increasingly Comfortable with Mobile Purchases - “Mobile commerce is growing like a weed,” said Jonathan Wolf, chief product officer, Criteo. “In just the last three months there was a 10 percent increase in mobile transactions in the US alone. Smartphones are now the majority of mobile transactions, and the growth of larger screen sizes and better mobile sites is only going to accelerate this trend.”
  • ProPay Announces ProFac Express for Payment Facilitators - “ProPay’s ProFac Express lets payment facilitators take immediate advantage of our industry-leading transaction processing platform – including online application, instant boarding, underwriting and more – while also empowering them to play an active role in the processing and client-service relationship.”
  • Global Payments’ OpenEdge Division Integrates Secure Payments Solutions with Carolina Software’s WasteWORKS Software Suite - “Everyone in the ecosystem understands that EMV represents a far superior security solution at the point-of-purchase,” stated OpenEdge President, Sid Singh. “Yet, developers face challenges ensuring merchants are ready to accept EMV payments within the POS system. EdgeShield solves this problem, so developers can integrate EMV swiftly and merchants can accept payments seamlessly.”
  • Ingenico Mobile Solutions Launches First and Only mPOS Solution for EMV Chip & Sign, Contactless and Magnetic Stripe Card Acceptance - “Merchants want options when it comes to EMV and NFC. With the RP450c, Ingenico Mobile Solutions now provides the first and only mPOS solution that enables acceptance of all payment types, with the most flexible connection options,” said David Szczepanski, COO at Ingenico Mobile Solutions.
  • Ingenico Group’s Wi-Fi Pay-at-the-Table Technology Brings EMV and NFC Tableside - “With the EMV liability shift and growing popularity of mobile wallets, merchants in the hospitality industry need to think differently about how they accept payment directly at the table,” said Gregory Boardman, Senior Vice President of Product and Development for Ingenico Group, North America. “This new Wi-Fi enabled addition to our iWL series ensures that Ingenico Group can meet the needs of any merchant that wants to implement a Pay-at-the-Table strategy, and in turn ensure EMV compliance.”
  • TransFirst Certifies Verifone’s Secure Commerce Architecture - “The certification of Verifone’s Secure Commerce Architecture is a major milestone for TransFirst,” said John Shlonksy, President and CEO for TransFirst. “It confirms our commitment to providing enhanced data security payment solutions to our merchants and sales partners that will not only reduce the scope of EMV certification, but also save their time and resources.”
  • Mozido Invests in HCE Pioneer SimplyTapp - “The mobile payments industry is in the midst of a transformation. With secure element-based NFC mobile payments struggling, the industry is leaning heavily towards a future of more open, HCE oriented mobile payment transactions,” said Michael Liberty, Mozido founder and chairman of global strategic initiatives. “By partnering with SimplyTapp, the pioneer and leader of HCE payments, Mozido will be at the forefront of this transformation.”
  • Mozido Invests in IdentityMind Global, Forms Partnership for Unprecedented Fraud Protection in Mobile Commerce - “Fraud prevention in e-Commerce and online transactions is most effective when the identity of the consumer or entity is known,” said Garrett Gafke, president and CEO of IdentityMind. “Our platform recognizes individuals based on a combination of attributes and helps validate how these attributes correlate against each other both online and offline. This is particularly important in mobile commerce where online merchants sacrifice collecting information for reducing friction in the mobile payment/registration process, and mobile adoption is larger within underbanked and unbanked demographics.”

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!

March 30, 2015

Headline News from PaymentsNews.com - March 30, 2015

On the Web:

On the Wires:

  • Contactless Card Payments enabled on Vodafone Wallet with Visa and Carta Worldwide - "Vodafone customers will soon be able to add bank cards to their Vodafone Wallet and use smartphones to pay for goods and services at contactless terminals, it was announced today. Following new agreements with Visa and Carta Worldwide, bank card payments via Vodafone Wallet will be enabled in European markets from the second quarter of 2015 onwards."
  • MasterCard Expands San Carlos Center of Excellence - "MasterCard today announced the expansion of its San Carlos Center of Excellence and the relocation of senior vice president of Emerging Merchants, Les Matthews, and his team to the company’s West Coast office. MasterCard will also add global communications support in San Carlos with the relocation of vice president, Worldwide Communications, Brian Gendron. The moves enhance the company’s presence on the ground in Silicon Valley – an important market for continuing to deepen MasterCard’s footprint with the tech community."
  • GTCR Announces Sale of Fundtech to DH Corporation - Aaron Cohen, Managing Director at GTCR, added: “This transaction marks another successful example of GTCR’s Leaders Strategy™, as we worked in partnership with an exceptional management team to execute this complex transformational merger. We are pleased that those efforts have resulted in building a market-leader in transaction banking software.”
  • According to New Chase Slate Credit Survey, Checking Your Credit Score Correlates to Financial Aptitude – Yet Gaps in Consumers’ Credit Health Awareness Still Exist - "The survey reveals that Americans who have previously checked their credit score consider a “good” score to be 719 on average1. This is 51 points higher than what is considered to be good by those who have never checked their score (668). What Americans may not realize is that even a score of 719 might not give them access to credit at the best rates."
  • TimesofMoney Announces Launch of 'Movit' - Talking about Movit, Avijit Nanda, Chief Executive Officer, TimesofMoney, says, “TimesofMoney has several success stories to its credit. We have engaged with international clients for Movit and in fact are in the process of deploying it in Africa currently. Since Movit’s primary delivery channel is the mobile phone, it gives a huge thrust to the financial inclusion agenda of governments in emerging economies of India, Asia & Africa where there is an ever-increasing mobile penetration.”
  • Powa Technologies and Merchant e-Solutions Partner to Support POS Application Developers’ Go-To-Market Strategies - “PowaPOS has a unique position in the tablet-based payments market right now. Its fully integrated hardware and universal OS support makes it particularly attractive to POS software developers and to us,” said Tom Bell, CEO, Merchant e-Solutions. “By partnering together, we’ll be able to provide developers with the best payments processing and hardware solutions on the market today.”

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!

March 25, 2015

Headline News from PaymentsNews.com - March 25, 2015

On the Web:

On the Wires:

  • Global Payments Acquires Realex Payments, Expanding Its International Ecommerce Offerings - Colm Lyon, CEO of Realex Payments, added, "We are thrilled to be joining the Global Payments team. The combination of Global Payments' multinational acquiring expertise with Realex Payments’ technologies and employees will position us well for global growth and expansion."
  • Rise in “Mobile-Only” Users Will Require Rethinking Mobile Banking Says Fiserv White Paper - "According to Fiserv estimates, mobile-only users make up about 15 percent of a typical financial institutions’ mobile banking user base. Mobile-only users are defined as those who access their accounts using only their smartphones. Although the segment is small, it is growing, and it makes up an integral part of the mobile banking population."
  • Pay with OpenTable Now Available for Android - "Millions of diners use our apps to discover and book the perfect table," said Jocelyn Mangan, OpenTable Senior Vice President, Product Management.  "We're excited to provide Android users with a payment experience that is intuitive and integrated into the OpenTable app they know and love." 
  • ShopKeep Launches Integrated Payments - "ShopKeep Payments will be a new division of ShopKeep, and will leverage technology from Payment Revolution, an independent sales organization and a full service credit card processing firm that specializes in custom solutions. ShopKeep Payments will also offer best-in-class residual payouts to its interested, certified value-added resellers and referral partners"

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!

March 17, 2015

Headline News from PaymentsNews.com - March 17, 2015

On the Web:

  • Payments on Fire Podcast #15 – Small Business Banking grown from Seed - PaymentsViews.com (George Peabody) - "Listen to this conversation between Glenbrook’s George Peabody and Seed CEO Brian Merritt. While very early in the company’s development, Brian’s description of the company’s “API first” approach banking makes clear what’s possible when legacy technology and processes are in the rearview mirror."

On the Wires:

  • U.S. Bank Becomes Member of clearXchange to Bring Customers Faster, More Secure Digital Payments - “U.S. Bank is committed to bringing customers the most convenient and secure payment options available in the marketplace,” said Gareth Gaston, executive vice president of omnichannel banking at U.S. Bank. “Digital person-to-person payments are far more convenient than writing a check or having enough cash on hand to pay the babysitter or split a rent payment. By joining with clearXchange, U.S. Bank customers have a better way to make those payments quickly, easily and safely. We also have the opportunity to explore other ways this payment exchange network could come to light through our unified, omnichannel approach to customer service.”
  • Rakuten to Accept Bitcoin on Global Marketplaces - Rakuten’s mission is to empower the world through the Internet,” commented Yaz Iida, President of Rakuten USA. “Not only can bitcoin support this vision by helping our merchants better compete globally, but it also has the potential to benefit society by enhancing the security, privacy, and convenience of financial transactions. This is one of the reasons why we invested in Bitnet last year and we look forward to working with them on our US marketplace."
  • Digital River Provides Global Online Payments Solutions for peerTransfer - “peerTransfer is delighted to add Digital River to our suite of existing payment providers,” explained Mike Massaro, peerTransfer’s chief executive officer. “Digital River allows us to lower transactional costs in key regions and countries while enabling us to increase the number of currencies in which we settle."
  • Betty DeVita Appointed Chief Commercial Officer, MasterCard Labs - "In this role Betty will be responsible for developing and managing strategic partnerships focused on commercializing existing and future pipeline MasterCard Labs assets."

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!

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!

March 12, 2015

Headline News from PaymentsNews.com - March 12, 2015

On the Web:

  • Four Types of Bitcoin Users on Coinbase - Coinable Blog - "We have seen several different types of bitcoin users emerge over the past few years, with many more likely on the horizon."
  • The five stages of bitcoin understanding - Fortune - “We are still a good year away, in our estimation, from seeing the first production-ready instruments where you can imagine a known financial services company using this. But it’s not 10 years."

On the Wires:

  • Apple Pay is Now Available at Jamba Juice Stores - “We are pleased to integrate Apple Pay as an option for consumers seeking an easy and secure service through which to complete their transactions,” said Julie S. Washington, Jamba Chief Marketing and Innovation Officer. “We believe Apple Pay will help improve the speed-of-service for today’s on-the-go consumer.” Jamba is integrating Apple Pay in approximately 650 stores nationwide.
  • Global Payments and Discover Financial Services Announce Streamlined Card Acceptance on the Discover Global Network in Canada - “The launch of our full acquiring program for Discover is the latest example of our commitment to providing Canadian merchants with robust and innovative product and service offerings,” said René Bélanger, President of Global Payments Canada. “This program brings additional value to our merchant customers by enhancing payment acceptance options and providing them a single source for payment processing, settlement, underwriting, risk management, support and reporting.”
  • VISA ReadyLink Users Can Now Add Funds to Their Cards at Walmart - "The integration of Visa ReadyLink with Walmart's Rapid Reload delivers on InComm's vision to expand the swipe reload technology and streamline the customer experience at the register, simplify the sales process for employees and increase retail foot traffic," saidJeff Lewis, Vice President and General Manager, Financial Services, InComm.
  • Calling All Entrepreneurs: Bring Your Big Idea to MasterCard’s Priceless Elevator Pitch - "Representatives from some of the top venture capital firms in the country will serve as judges for the competition. At the end of each day, they’ll award three finalists with a $250 MasterCard prepaid card. On the final day, Jay Singer, senior vice president, North America commercial products at MasterCard, will join the judging panel and one of the nine finalists will be named the winner of the $15,000 grand prize."
  • Intuit and Bigcommerce Partner to Simplify Financial Business Operations for Online Retailers - “Both Intuit and Bigcommerce develop technology that makes our clients’ lives easier, and this partnership will help Bigcommerce merchants simplify accounting with the help of QuickBooks Online,” said Avi Golan, vice president and general manager of the Intuit Developer Group. “Merchants taking advantage of this integration will save time once spent on accounting, and will be able to keep their focus on running their business.”
  • Intuit Partners with Shopify to Automate Bookkeeping for Online Retailers - “Delivering a seamless integration between QuickBooks Online and Shopify makes it easy for businesses to automatically reconcile sales data,” said Avi Golan, vice president and general manager of the Intuit Developer Group. “This is the latest example of how we’ve turned QuickBooks Online into the world’s leading small business cloud platform, delivering an ecosystem of integrated tools and services."
  • Fifth Third Bank Adopts Dave Ramsey's New SmartDollar Financial Wellness Program - Sheri Kehren, vice president and program manager of financial workplace wellness at Fifth Third Bank, said, "We continue to see employers augment their retirement education efforts and overall corporate wellness programs with a component of financial education. We were very excited when the Bank announced that the new SmartDollar program would be part of their improved Total Rewards program for 2015.”

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!

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!

March 06, 2015

Headline News from PaymentsNews.com - March 6, 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!

March 04, 2015

Citi and MasterCard Sign New 10-Year Global Agreement

Citi logo 140pxCitigroup and MasterCard have announced signing a new and expanded 10-year agreement. Citi will begin aligning the company’s consumer proprietary credit and debit portfolios to the MasterCard network in 2015 - although Citi will continue to work with other networks, including on consumer co-brands and commercial cards.

“Citi’s new global agreement with MasterCard harnesses the size and strength of Citi’s Card franchise, creating a path with MasterCard to influence the future of payments – from global acceptance to the creation of enhanced digital payment capabilities,” said Jud Linville, CEO of Citi Cards. “Deepening our partnership with MasterCard should speed the delivery of solutions for our consumer, small business and merchant clients, and add meaningful value to Citi. For almost half a century, MasterCard has been integral to Citi’s credit card business. MasterCard is well respected for their global leadership and role in driving payments innovation, and we are very pleased to continue our work together to make payments simpler, easier, and more secure.”

“Citi is an important partner and the world’s largest credit card issuer, operating in the fastest-growing markets,” said Ajay Banga, president and CEO, MasterCard. “We look forward to expanding our work together to deliver innovative payment solutions to Citi MasterCard cardmembers that drive loyalty and a great consumer experience.”

For nearly 50 years, Citi and MasterCard have worked together to provide credit and debit cards to consumers and businesses of all sizes. Citi was one of the first major bank partners for MasterPass, which allows cardmembers to pay with any enrolled credit card anywhere online or in app, using any device, eliminating the need to enter payment and shipping details for each purchase.

Earlier this week, Citi was announced as the new co-brand partner of Costco - along with Visa.

Headline News from PaymentsNews.com - March 4, 2015

On the Web:

  • Credit Card Breach at Mandarian Oriental - Krebs on Security - “We can confirm that Mandarin Oriental has been alerted to a potential credit card breach and is currently conducting a thorough investigation to identify and resolve the issue,” the company said in an emailed statement.

  • Bitcoin for the Unbanked - Foreign Affairs - "How about combining M-Pesa with a digital currency? It would offer all the advantages of M-Pesa, but would make the costs to users even cheaper for those who import money into that system from abroad, because those remittances from rel atives in London or New York would arrive via bitcoin rather than the traditional banking system. Call it BitPesa."

  • Change agent: PayNearMe partners with Grameen America to help lift women out of poverty - PandoDaily - "PayNearMe, the cash transaction network that allows US consumers to pay bills and make online purchases using cash at more than 10,000 participating retailers across the country, has done just that. The company has entered a nationwide partnership with Grameen America, the nonprofit microfinance organization providing loans, savings programs, financial education, and credit establishment to women who live in poverty."

  • Antonopoulos to Australian Senate: Bitcoin Regulated by Math - Inside Bitcoins - "Contrary to popular misconception, bitcoin is not unregulated. Rather, several aspects of the bitcoin network and financial system are regulated by mathematical algorithms. The algorithmic regulation in bitcoin offers predictable, objective, measurable outcomes. Algorithmic regulation provides certainty without nationalist or geopolitical influence."

On the Wires:

  • Cardtronics Launches ATMpass - Tom Pierce, chief marketing officer, Cardtronics, said: "Consumers are interested in using the most convenient ATMs - Cardtronics ATMs - but less so in paying a surcharge fee. With ATMpass, Cardtronics offers cardholders the convenience of national retailers plus the ability to avoid ATM surcharge fees. Having cash access at a surcharge-free ATM in a retail location that is part of their day-to-day life is important to many people. For consumers who feel limited by their current ATM options, or don't have any surcharge-free ATMs near their home, work or school, ATMpass gives them control over ATM surcharge fees and the freedom to choose convenience."

  • MasterCard: Happy Birthday Priceless Surprises! - "Priceless Surprises is among the highest social media engagement generating initiatives live today, beating U.S. Twitter benchmarks within financial services and Facebook benchmarks across consumer industries. When compared against other MasterCard programs, Priceless Surprises engagement rate is three times higher."

  • Global Payments’ Integrated Solutions Division, OpenEdge, Secures Partnership with New West Technologies for Integration to Microsoft Dynamics AX - OpenEdge President, Sid Singh, added, “We’re pleased that New West and our other partners are experiencing the benefits of integrations with EdgeShield, a pre-certified, EMV compliant solution combined with point-to-point encryption and tokenization security.”

  • Merchants’ Choice Payment Solutions Powers its All-New Foundry POS Solution with Powa Technologies - "MCPS’ Foundry POS is a powerful, cloud-based software application designed to meet the specific business needs of the retail and restaurant industries. Features include access to real time reports, including sales, inventory and employee management, as well as full integration with its Merchant Foundry CRM system."

  • ShopKeep Launches Serverless Sync - “With Serverless Sync, waiters and bartenders will no longer have to return to an individual register to update their checks or wait for a register to become available to input orders,” commented Jason Richelson, Founder and Chief Strategy Officer of ShopKeep. “Instead, open checks will be accessible from any register running on the same WiFi network, allowing staff members to spend more time providing the best possible service.”

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!

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