On the Web:
- The extraordinary reinvention of Square - Fortune - "If sources close to the company are correct, Square’s revenue is growing at least 50% year over year."
- In Papua New Guinea, Mobile Banking Brings Savings and Safety to Farmers - IFC - "Farmers can now get paid electronically – through their mobile phones. It’s cheaper and faster. The mobile banking service, pioneered by Bank South Pacific’s subsidiary, BSP Rural, allows buyers to transfer payments to growers’ bank accounts via text messages on their mobile phones."
- The Mt.Gox Arrest Is The End Of The First Age Of Bitcoin - TechCrunch - "I’m far more optimistic these days in regard to bitcoin. While it is neither a silver bullet or a fiat currency replacement, it is a way to micro-pay artists for their work as much as it’s a way to send money between unbanked families."
- Safaricom won’t let rivals share M-Pesa - Mediamax - "Safaricom has maintained it will not allow its mobile money platform, M-Pesa, to be spun off from the parent company, citing security risks for subscribers due to lack of clear guidelines and standards on cross-network cash transfers."
- How the W3C is trying to standardize payments on the internet - The Next Web - "The organization in charge of online standards, the World Wide Web Consortium (or W3C), is facilitating the work of a so-called Web Payments Interest Group, a workgroup currently consisting of almost a hundred people from 44 companies and organizations. Since early 2014, the group has been actively working on creating a universal specification of how online payments should be described and conducted."
- Friendly Fraud: Nothing to Smile About (Part 2) - Retail Payments Risk Forum - "A transaction that could be classified as friendly fraud might actually be one the customer just forget about, or one involving a family member using the customer's card without permission, or one with the customer actually not receiving the goods."
On the Wires:
- Mercury Launches “Security Pays” Initiative to Improve Payments Security - "Mercury Payment Systems ... announced today its Security Pays initiative, designed to educate payments partners and business owners on how to protect their businesses from the multitude of security threats facing them today. Mercury is working to drive adoption of security standards, protocols and products across the industry to help payments partners and their business customers protect themselves."
- Early Warning Improves Counterfeit Detection for Financial Institutions - "Early Warning’s Deposit Chek Service helps financial institutions of any size expedite funds availability decisions or accelerate preventive actions on deposited items based on whether an account is returning transactions; whether the payer’s account is in good standing; whether it is closed, or has insufficient funds; and if a stop-payment has been placed on an item."
- BofA Merrill Achieves Top Placements in Nilson Rankings For Commercial Card - “It’s an exciting time to be a leader in the global payments area, where digital innovations and new mobile offerings are being introduced on an increasingly common basis,” said Ather Williams, head of Global Transaction Services at Bank of America Merrill Lynch. “Our clients are constantly looking for increased efficiency and improved analytics. We look forward to working with them on how together we can capitalize on these innovations to further their payment objectives and working capital.”
- “Mr. NFC” Named Chairman of YellowPepper Board of Directors - "YellowPepper, Latin America’s leading mobile payment and banking company, today announced that Mohammad Khan, former president and founder of ViVOtech, a pioneering NFC software and hardware company that paved the way for mobile payments, has been named Chairman of YellowPepper Board of Directors."
Glenbrook's 2015 Payments Education
- Our next Payments Boot Camp session is scheduled for October 13-14 in Palo Alto, California followed by a one-day Insight Workshop on October 15 on the topic of Global Payments.
- If you have questions about our payments education program, please contact Carol Coye Benson for more information.
Updates from Glenbrook:
- Join our mailing list for updates about Glenbrook events.
Follow us on Twitter: @paymentsnews and @paymentsviews
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: firstname.lastname@example.org!