On the Web:
- Payments on Fire Podcast #23 – Ethoca and the Power of Data Collaboration - PaymentsViews.com - "That’s what Ethoca is about. Its growing network of merchants and issuers share their fraud data to improve fraud detection and lower chargeback rates. Take a listen to this discussion with Keith Briscoe, Ethoca’s CMO, on what’s possible through collaboration."
- Time to democratize the banking system - CNBC - PayPal CEO Dan Schulman: "Not long ago, I spent a week using only what the banking industry calls "alternative financial services," relying on check-cashing offices and wire-transfer companies to support my daily finances. The results were deeply dispiriting. Accessing my own money became a part-time job, and the price of each transaction meant my checks yielded less than their value and my bills cost more than they should have."
- First Data I.P.O. Is Likely to Be One of Year’s Largest - New York Times - "Renaissance Capital on Monday estimated that the company could raise $5 billion or more. First Data said it planned to use proceeds from the stock sale to repay some of its roughly $20 billion in long-term debt."
- Gates Foundation's Kosta Peric on Blockchain Tech and the Unbanked - CoinDesk - “The very powerful thing about bitcoin in general and specially the technologies behind it, is they are essentially leapfrogging all the technology and providing a new system for processing these huge amounts of transactions for very small costs.”
On the Wires:
- CFPB Orders Citibank to Pay $700 Million in Consumer Relief for Illegal Credit Card Practices - "Roughly 7 million consumer accounts were affected by Citibank’s deceptive marketing, billing, and administration of debt protection and credit monitoring add-on products. A Citibank subsidiary also deceptively charged expedited payment fees to nearly 1.8 million consumer accounts during collection calls."
- First Data Files Registration Statement for Proposed Initial Public Offering - "The company intends to use the net proceeds from the offering for the repayment of certain indebtedness."
- Introducing the Square Dashboard App: Track Your Real-Time Sales Data on the Go - "We think you deserve to have the information you need, when you need it, wherever you are. Now there’s an app for that. The Square Dashboard app gives you real-time data about what’s going on at all your locations — straight from your mobile device. With just a tap, you get instant insight into what’s running smoothly, and what might need some tending to."
- Mozido Expands to Africa with Zimbabwe Mobile Financial Services Offering - "By acquiring a majority of NettCash, a Zimbabwe mobile wallet company, Mozido has further established its foothold in Africa. The NettCash pre-paid electricity solution is being extended by integrating Mozido’s Mobile Transaction Platform services, including mobile bill pay, stored value account, and person-to-person payment services, to launch Zimbabwe’s first mobile wallet that includes prepaid utility services."
- HomeSend and Azimo Launch New Mobile Money Services Throughout Africa and Asia-Pacific - “Azimo is focused on being the universal digital platform for remittances. With cash payout, direct to bank account, mobile top-up and even home delivery money services in over 200 countries, we already have the most comprehensive network of any digital player” said Michael Kent, Founder and CEO of Azimo. “This tie up with HomeSend to offer more mobile wallet services is a major step on our journey.”
- Creditcall and Lans Holdings Bring EMV Solutions to the U.S. to Accelerate EMV Migration for ISVs and VARs - "Creditcall and Lans Holdings have combined technologies to deliver a best in class EMV technology, reducing the time to market, cost and complexity of EMV certification while providing choice in EMV chip card readers and access to major U.S. processors."
- Merchants Payments Coalition Lauds Benefits of Dodd-Frank on Its Five-Year Anniversary - "Debit swipe fee reform has saved consumers almost $6 billion each year since it went into effect, based on a study by the prominent economist Robert J. Shapiro, and supported 37,500 jobs a year as well."
Glenbrook's 2015 Payments Education
- Our next Payments Boot Camp session is scheduled for August 4-5 in Mountain View, California followed by a one-day Insight Workshop on August 6 on the topic of Data in Payments.
- If you have questions about our payments education program, please contact Carol Coye Benson for more information.
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