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Mobile Wallets

Welcome to the News View for "Mobile Wallets".

Here, on these archive pages, you'll find all of the articles on Payments News for Mobile Wallets 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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April 01, 2015

Headline News from PaymentsNews.com - April 1, 2015

On the Web:

On the Wires:

  • FIS Drives Digital Disruption from New Innovation Lab in San Francisco - “Our Digital Innovation Lab will serve as an entrepreneurial ‘garage’, where our engineers build new product prototypes with cutting-edge technologies,” said Doug Brown, SVP and GM, Mobile Financial Services, FIS. “Located in the U.S. hub for high-tech innovation, the lab is empowering FIS to set the pace of digital developments for the financial industry.”
  • Heartland and Verifone Renew Alliance; Announce EMV and Encryption Initiative - “A renewed alliance between Heartland and Verifone ensures merchants have access to the most secure and flexible payments solutions on the market today,” said Heartland Chairman and CEO Robert O. Carr. “Verifone’s popular VX terminals are both Heartland Secure-certified and support E3 encryption, providing merchants with an extensive range of payment device options.”
  • Advanced Cash Chooses BitPay to Offer Bitcoin Funding - "As the Bitcoin industry grows in transaction volume and technology development, companies like Advanced Cash need to have a scalable product to compete and meet customer expectations. With BitPay, they are able to provide reliable and efficient services to Bitcoin users by offering frictionless transactions powered by enterprise level software and support service."

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 02, 2015

Headline News from PaymentsNews.com - March 2, 2015

On the Web:

On the Wires:

  • Costco Enters Into a Long Term Co-Brand Credit Card Agreement With Citi and an Acceptance and Co-Brand Agreement With Visa - "Under the terms of the agreements, Citi, the world's largest issuer of consumer credit cards, would become the exclusive issuer of Costco's co-brand credit cards and Visa will replace American Express as the credit card network for Costco in the United States and Puerto Rico beginning April 1, 2016."

  • Visa and Samsung Bring Mobile Payments to the New Samsung Galaxy S6 - “Working in partnership with Samsung, we are able to bring secure mobile payments to millions of consumers around the world,” said Ryan McInerney, global president, Visa Inc. “Combining Visa’s expertise in payment technology with Samsung’s global leadership in creating innovative mobile experiences gives more choice to financial institutions who want to enable their customers to pay with the new generation of mobile devices.”

  • MasterCard Works with Samsung to Deliver Samsung Pay - “This is an exciting time for payments,” said Ed McLaughlin, chief emerging payments officer, MasterCard. “As consumers are increasingly relying on their mobile devices in their everyday lives, we are excited to work with an industry leader like Samsung to deliver new payment options to our cardholders around the world. We have been a pioneer of mobile commerce innovation for years and together we’re delivering a digital payment experience that is both simple and secure.”

  • U.S. Bank, Samsung Working on New Mobile-Payments Service - “We're thrilled to have payments become a core capability of the mobile phone,” said Pam Joseph, vice chairman and head of U.S. Bank Payment Services. “The result of mobile payments is that our customers can use the same, familiar credit-card payment system but with added security and convenience.”

  • Synchrony Financial Enables Private Label Credit Card Benefits Through the Samsung Pay Secure Mobile Wallet - “This fits perfectly into our mobile wallet strategy to build, partner and invest in the latest technologies to benefit our customers and our partners,” said Margaret Keane, President and CEO of Synchrony Financial. “We continue to make our cards valuable to consumers, retailers and merchants and are pleased to expand our capabilities to securely offer private label credit card benefits through this mobile payment solution.”

  • Visa and Airtel Extend Mobile Payments to Seven African Countries - “Mobile payments can transform the lives of people throughout Africa who commonly have access to a mobile phone, but not a bank,” said Vish Sowani, Vice President of MNO Partnerships for Visa. “For most new subscribers, this will represent their first payment account and bring some of the latest digital payment advancements into the everyday experiences of Airtel’s customers.”

  • Announcing Bango Grid: The Global Launch Pad for Carrier Billing - Ray Anderson, Bango CEO said: “There are more than 700 MNOs globally, with different billing systems. It is no surprise that even the most ambitious app stores have not yet achieved 100 MNO activations. Bango Grid is rocket fuel for app stores, providing the only way to increase carrier billing activations at scale. For the first time, the tools required to activate hundreds of markets are all in one place, through one integrated system. Backed-up by the Bango Payments Platform, app stores can now make carrier-billed payment a reality for every customer."

  • MasterCard Reveals Consumer Sentiment on Payments Evolves from “Why Mobile?” to “What’s Next?” in 24 Months - "According to the latest MasterCard research, consumers have shifted their focus from questioning the security of mobile payments to now discussing the possibilities of enhanced digital experiences on devices."

  • MasterCard and Cubic to Make Mobile Devices the Remote Control for Global Cities - “MasterCard and Cubic, both lead members in the Smart Cities Council, share a vision to improve quality of life for everyday citizens in cities and help authorities to better manage population growth and urban development,” said Will Judge, head of Urban Mobility, MasterCard Enterprise Partnerships. “Combining our expertise and reach allows us to ultimately drive greater value and make consumers’ lives easier and more enjoyable as they travel around and between connected cities.”

  • ACI Worldwide and STS PayOne Partner to Provide ePayment and Fraud Prevention Services to the Middle East - Commenting on the partnership, Mr. Janti Abdallah, STS PayOne General Manager, said: “We strive to offer the best ePayment solutions to our clients, which includes providing the highest levels of security and fraud prevention. We were among the first to adopt and promote 3D Secure in the region, in addition to PKI and SSL encryption, not to mention achieving PCI-DSS compliance. The partnership with ACI Worldwide is in line with this eagerness to adopt best practices in fraud prevention and sustain our distinction and innovation.”

  • Intel Launches New Mobile SoCs, LTE Solution - “The evolution of the mobile landscape and growth of smart, connected devices has led to increased demand for more connectivity and real-time, protected data on those devices,” said Krzanich. “All of these factors are driving a transformation of the network to accelerate the delivery of new personal computing experiences, services and capabilities in a safe and secure manner. Intel is one of the only companies in the world that can provide solutions end-to-end for the full spectrum of mobility.”

  • NXP Launches New Secure Service Development Platform for Secure Mobile Transactions - “The SSDP supports partners wanting to create new secure applications by removing the technical challenges they face in getting credentials on to the secure element in phones and wearable devices. Now, instead of taking months, new applications can be created and validated in a matter of weeks,” said Jeff Miles, VP Business Development, NXP Semiconductors. “The SSDP will streamline the process for the development community therefore enabling phone and wearable technology manufacturers to bring these new apps to market faster.”

  • Raise Welcomes Gift Card Pioneer Don Kingsborough to Board of Directors - “Don has had a career full of incredible successes, and the role he played in cementing gift cards as a shopping staple has really set the stage for what we do at Raise,” said George Bousis, founder and CEO of Raise. “He's seen everything on all sides of the spectrum and will be a valued advisor to the company as we rely on his unparalleled experience and know-how to help manage growth, expectations, hiring, infrastructure and more."

  • SecureKey Announces $19M in New Funding to Broaden Adoption of Its Identity Network Services - “SecureKey allows organizations to build or subscribe to an identity network that connects consumers to online services via a trusted third-party credential of their choice, where both privacy and security are paramount,” said Charles Walton, CEO of SecureKey. “The funding will help SecureKey accelerate its growth, as people, governments, and organizations worldwide embrace a future that removes the burden of passwords while giving consumers the convenience, choice, and control they deserve.”

Glenbrook's 2015 Payments Education Schedule Now Available!

Updates from Glenbrook:

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

February 12, 2015

Headline News from PaymentsNews.com - February 12, 2015

On the Web:

On the Wires:

  • American Express and CostCo U.S. Partnership Agreements Set to End March 31, 2016 - '...we were unable to reach terms that would have made economic sense for our Company and shareholders. Instead, we will focus on opportunities in other parts of our business where we see significant potential for growth and attractive returns over the moderate to long term.”
  • Bill.com Raises $50M to Fuel Growth and Innovation in Digital Payments for Businesses - "Silicon Valley Bank joined existing investors DCM Ventures, Scale Venture Partners, August Capital, Napier Park Global Capital, American Express Ventures and Commerce Ventures, bringing the total amount raised by the company to date to over $100 million."
  • Visa Launches Mobile Location Service to Improve Card Payment Experience When Traveling - “Wherever you are in the world, we want Visa transactions to be the most secure, convenient and seamless payment choice,” said Mark Nelsen, senior vice president of risk products and business intelligence, Visa Inc. “By matching the location of the cardholder through a cell phone or other mobile device, to the location of the purchase, Visa’s new service will enable banks to feel more confident about authorizing a transaction that might otherwise have been declined due to suspicion of fraud.”
  • Bitcoin Foundation and Leading Bitcoin Companies Engage theAudience to Launch Public Education Campaign on Bitcoin - “As the ecosystem matures, Bitcoin companies are stepping up to the plate. We’re excited to join a coordinated and concentrated effort to teach Bitcoin to the world’s almost 3 billion internet users -- two-thirds of which are from the developing world,” said Brock Pierce of Bitcoin Foundation.
  • SWIFT Institute announces research agenda for 2015 - "SWIFT is uniquely placed to bridge the gap between academic thinking and the financial services industry, leveraging topics of mutual interest," said Peter Ware, Director, SWIFT Institute at SWIFT. "Since the launch of the Institute, we have made great progress in achieving this goal and will continue to do so with new research in 2015 focused on topics of global importance. Our aim is to help the global financial community better understand and manage the obstacles it is facing through new research and greater dialogue at events."
  • CardLinx Publishes New Standards Enabling Interoperability and Broader Use of Card-Linking - Silvio Tavares, President and CEO of The CardLinx Association, said, “This first set of voluntary standards for the card-linked industry is an important step forward in delivering scale and improving ease of use for merchants and consumers.”

Glenbrook's 2015 Payments Education Schedule Now Available!

Updates from Glenbrook:

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

January 22, 2015

Headline News from PaymentsNews.com - January 22, 2015

On the Web:

  • Here's Why Apple Pay Users Have Cut the Plastic - eMarketer - "Among US iPhone 6 and 6 Plus users who had used Apply Pay while shopping at a retail store during Black Friday weekend, nearly three-quarters said using Apple Pay was easier than checking out with a debit or credit card..."
  • Braintree Opens Private Beta to Accept Bitcoin - Coinable Blog - "After working closely with Braintree over the past few months, we are excited to announce that Braintree has opened up private beta access to accept bitcoin for all of its U.S.-based merchants."
  • Bill Gates on Mobile Banking, Connecting the World and AI - Medium (Backchannel) - "The actual ideal is to essentially have a public switch that lets you move funds at low fees between various banks. That kind of rich interchange capability actually still doesn’t exist."
  • Visa Europe 2014 Annual Report - "To reflect the disparities across Europe, there is now more focus on local markets, and a more open and flexible approach to digital payment solutions. At the same time, a robust commercial ethos is being embedded within the business – in order to increase its strategic and monetary value, extend its market position, and protect it from business and regulatory risk."
  • ARM makes 15 predictions about 2015 - Android Authority - "These predictions cover a wide range of topics and reflect all the different areas of technology that utilize ARM based processors. The areas covered include smartphones, wearables, IoT, security and servers."
  • Monitise explores strategic review, warns on full-year results - Reuters - "Monitise Plc, a British mobile banking technology company, said it was reviewing its strategic options and warned that full-year revenue would be below its expectations..."
  • Webster Bank ramps up mobile banking app security with Touch ID - Mobile Commerce Daily - "Webster Bank is one of the first United States-based banks to leverage Apple’s Touch ID feature into its mobile banking application..."
  • Amazon drops mobile wallet as chances of a shakeout grow - Mobile Commerce Daily - "Amazon’s wallet strategy raised questions about its viability from the beginning, as many retailers consider the ecommerce giant a competitor and therefore would be unlikely to want to participate..."
  • Cross-Border Payments: Challenges and Trends - Aite Group - "The correspondent banking model does not meet every customer's modern needs, and the growing volume of low-value cross-border payments oblige banks to rethink their current approach to cross-border fund transfers."
  • Payments Giant Ingenico Adds Bitcoin Option to POS Terminals - CoinDesk - "Bitcoin payments provider Paymium has partnered with one of the world's largest point-of-sale (POS) providers to allow European brick-and-mortar retailers to accept the digital currency."
  • Reporting back from the Blockchain Workshops at MIT and Harvard - "And it turns out Bitcoin may be just the beginning."
  • Bigger than Hollywood - Asymco.com - "Apple paid $10 billion to developers in calendar 2014."
  • Google to Sell Wireless Service in Deals With Sprint, T-Mobile - Wall St. Journal - "Google Inc. is preparing to sell wireless service directly to consumers after striking deals with Sprint Corp. and T-Mobile US Inc., a move likely to prod the wireless industry to cut prices and improve speeds..."

On the Wires:

  • Xoom Announces Touch ID for Mobile Money Transfers - “Xoom has always placed safety and security as a top priority; and now with Touch ID on the Xoom Mobile App, this presents an enhanced customer experience with authentication that is simple and highly secure,” said Joe Raymond, Xoom’s Vice President of Product. “In keeping with our mission of creating a seamless customer experience across our platform, Touch ID will make it faster and easier for our customers to send money from the Xoom App, without having to type in a password.”
  • Wawa Launches New Mobile App and Wawa Rewards Program, Offering Customers a Whole New Way to Connect - "As of January 2015, all of Wawa’s more than 680 convenience stores are accepting mobile payments through the new Wawa mobile app, enabling customers to make in-store purchases with more convenience than ever before, using a Wawa Gift Card from their smart phones."
  • TSYS and Ingenico Group to Offer EMV, NFC and Apple Pay Enabled POS Payment Solutions - “Our relationship with Ingenico Group and its industry-leading expertise in EMV and NFC enabled TSYS to be among the first processors to be certified for Apple Pay,” said Craig Ludwig, senior director and head of product for TSYS' Merchant Services segment.
  • Raise Secures $56 Million in Series B Funding to Build on Company Momentum and Sustain Rapid Growth - "Raise, the largest online marketplace for gift cards, today announced that it has raised $56 million in a Series B funding round led by New Enterprise Associates (NEA), with additional funds supplied by Bessemer Venture Partners (BVP), the Pritzker Organization, Listen Ventures and several notable angels who previously participated."

Glenbrook's 2015 Payments Education Schedule Now Available!

Updates from Glenbrook:

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

January 15, 2015

Headline News from PaymentsNews.com - January 15, 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!

January 14, 2015

Headline News from PaymentsNews.com - January 14, 2015

On the Web:

  • Coming Soon!

On the Wires:

  • Fiserv Puts Control in the Hands of Cardholders With Mobile Card Management Application - "CardValet from Fiserv is a turnkey mobile application that can be downloaded from the Apple App Store or Google Play Store. Using CardValet, cardholders can turn their card off when their card is not in use, establish spending limits to allow transactions up to a certain dollar value and decline transactions when amounts exceed predefined thresholds. In addition, transactions can be monitored or controlled for specific merchant categories, such as travel, restaurants, or entertainment, and can be denied or reported for specific types of merchants."
  • ShopKeep Pocket Mobile App Launches with Powerful, Real-Time Reporting Features - "ShopKeep Pocket is a best-in-class mobile reporting application that enables merchants to quickly access their business data in real-time, wherever they are. The new app will work in tandem with ShopKeep Register, the company’s point of sale application, and offers users the ability to monitor business operations via their mobile devices, permitting increased connectivity and productivity on-the-go."
  • Western Union to Launch Direct to Bank from US to Mexico - "An agreement recently signed between Western Union and UniTeller, will allow Western Union customers in the US to send cash directly into qualifying bank accounts – totaling more than 60 million individual bank accounts1. The UniTeller network currently covers top banks in Mexico."
  • MasterCard and Masabi Set Commuters Free From Cash - "By combining MasterCard’s payment technology with Masabi’s JustRide mobile ticketing platform consumers will experience a faster and more convenient way to get around a city’s transit system."
  • New Bill.com Payments for NetSuite Achieves ‘Built for NetSuite’ Verification - "The Bill.com Payments for NetSuite SuiteApp is an integrated, full-service payments services solution available for NetSuite users. The new SuiteApp allows users to pay bills anytime, anywhere by clicking one button within NetSuite."
  • T-Mobile Gives Mobile Money Customers an Extra $20 on Their Tax Refund - "T-Mobile CEO John Legere today announced via Twitter that T-Mobile customers with Mobile Money who set up and receive a direct deposit of their tax refund onto their registered T-Mobile Visa® Prepaid Card will get a $20 credit."

Glenbrook's 2015 Payments Education Schedule Now Available!

Updates from Glenbrook:

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

January 05, 2015

Headline News from PaymentsNews.com - January 5, 2015

Dennis Moser - In Memoriam

  • Last week, on New Year's Day 2015, we lost our long-time friend and Glenbrook colleague Dennis Moser. Our tributes to Dennis are included here - if you knew and worked with Dennis, we'd welcome you adding your own memories of him.

On the Web:

  • Why New Credit Cards May Fall Short on Fraud Control - Wall St. Journal - "Big U.S. banks are steering clear of an advanced security measure used in credit cards around the world, opting for a system that is more convenient for shoppers but may leave them vulnerable to fraud."
  • Wire-Transfer Provider Xoom Hit by $31 Million International Fraud Scam - Digital Transactions - "Online wire-transfer provider Xoom Inc. reported Monday that it will take a $30.8 million one-time charge as a result of a scam in which the same amount of its cash was transferred abroad."
  • Tencent ushers China into the Internet banking era with the launch of WeBank - PandoDaily - "Tencent, maker of the hugely popular WeChat mobile chat application (as well as QQ instant messenger, Weibo microblogging platform, Dididache Taxi service, and PaiPai ecommerce platform) is the largest shareholder in the similarly named WeBank, with a 30 percent stake."
  • Making Change: Mobile Pay in Africa - Wall St. Journal - "Across Kenya, mobile money is breathing life into micro business. Companies whose business models are based on mobile payments have shown how targeting some of the world’s poorest customers can not only pay but also be a promising way to grow."
  • A Day with Apple Pay - New York Times - "Over all, though, my day of shopping showed that retailers and their cashiers have room for improvement when it comes to accepting and understanding mobile payments."
  • Intel unveils app that opens sites with user's face - USA Today - "Our goal is the elimination of passwords altogether," says Mark Hocking, a vice president with Intel Security.
  • No credit - Dr. Drang's Blog - "Tomorrow, I’ll start using my fifth credit card in the past 12 months. ... I’m not the only one who’s fed up with continually changing the credit card number on file with the companies I do business with."

On the Wires:

  • Progreso Financiero Soon to be Known as Oportun - "For over 8 years, our approach to lending has spearheaded the field of responsible, affordable and sustainable finance for the underserved. As we continue our mission, we want a name that builds on our customers’ perception of our company and what we do for them, and we wanted the name to be short and memorable. Oportun is based on the word Oportunidad, the Spanish word for Opportunity,” said Raul Vazquez, CEO of Progreso Financiero.

Updates from Glenbrook:

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

December 18, 2014

Headline News from PaymentsNews.com - December 18, 2014

On the Web:

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

On the Wires:

Updates from Glenbrook:

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

December 15, 2014

Headline News from PaymentsNews.com - December 15, 2014

On the Web:

  • Google Shopping to Counter Amazon - Wall St. Journal - "Google has approached retailers about creating a “buy” button for its online shopping site that would be similar to Amazon’s popular “one-click ordering” feature, according to people familiar with the discussions."
  • Small Bank in Kansas Is a Financial Testing Ground - New York Times - "The creation of the new bank, and the maintenance of the old one, are the work of a couple who were born in India and ended up in Kansas after living in Silicon Valley and passing through jobs at Google and Lehman Brothers."
  • Why Silicon Valley thinks we hate our wallets - SFGate.com - “In that sense, there’s a little bit of a don’t fix what ain’t broke approach that I would argue for,” said Levchin. “Innovating around the user interface of payments is a little gratuitous.”
  • PayPal expands lending programme to merchants - FT - "Paypal’s merchant lending programme launched last September and has since made more than 35,000 loans at a maximum of $60,000."
  • Square Competitor ShopKeep Giving Away Free Equipment to Accept Apple Pay - Re/code.net - "The free giveaway underscores the fierce competition among young companies such as ShopKeep, Square and Poynt, as well as bigger players like First Data, to get small businesses to ditch their clunky point-of-sale equipment for newer, modernized checkout software and hardware."
  • Perseverance Pays Off: The Lending Club Story - Jeff Crowe - Norwest Venture Partners - "The Lending Club story is a testament to the importance of keeping one’s cool during periods of high stress and not giving up on a great idea."

On the Wires:

  • Stockpile Partners with Yodlee to Offer “Invest Your Change” and “Gift Cards of Stock” for Easy and Affordable Investing - “Our offerings give banks a whole new way to engage with their customers and build a deeper relationship,” said Avi Lele, CEO of Stockpile. “When I was a kid, people gave savings bonds or stock certificates as gifts for graduation, birthdays and weddings, but these days, banks miss out on gift giving and investment. We’re removing the obstacles associated with investing, and making it fun, easy, and affordable for everyone.”
  • American Express Serve® Announces Research Pilot to Encourage Consumer Saving - “Rarely do researchers have the opportunity to test their theories in real world environments, using actual financial products, and directly with their target customers,” said Neal Sample, President, Enterprise Growth, American Express. “We see tremendous potential in enabling researchers to use our Serve software platform to improve the lives of the financially underserved. This is why we established our Financial Innovation Lab, and it’s why we are pleased to be working on this research pilot.”
  • Fiserv Research Reveals Rapid Growth of Mobile Bill Payments, Multiple Billing and Payment Choices Key to Customer Satisfaction - “Mobile bill pay is becoming a go-to-channel alongside traditional bill payment methods, creating a ripe opportunity for billers to rethink and expand their multichannel strategies to help stimulate customer satisfaction,” said Eric Leiserson, senior research analyst, Biller Solutions, Fiserv. “Billers that cast a wider billing and payment net with offerings that meet the diverse needs of their customers extend their reach and build stronger, more loyal relationships with customers across channels.”
  • Fraud-proof Credit Cards Possible with Quantum Physics - "This innovative security measure, known as Quantum-Secure Authentication, can confirm the identity of any person or object, including debit and credit cards, even if essential information (like the complete structure of the card) has been stolen. It uses the unique quantum properties of light to create a secure question-and-answer (Q&A) exchange that cannot be “spoofed” or copied."

Updates from Glenbrook:

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

November 07, 2014

Headline News from PaymentsNews.com - November 7, 2014

On the Web:

On the Wires:

  • Hey, it's Friday! Hope you have a great weekend!

Updates from Glenbrook:

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

October 27, 2014

Headline News from PaymentsNews.com - October 27, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

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

October 21, 2014

Headline News from PaymentsNews.com - October 21, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

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

October 20, 2014

Headline News from PaymentsNews.com - October 20, 2014

On the Web:

  • Apple Store app updated with Apple Pay support - iMore.com - "You can use Apple Pay both when ordering online, as well as when checking out at an Apple Store with EasyPay."
  • OpenTable adds Apple Pay support for iPhone in three US cities - iMore.com - "OpenTable, the popular restauant reservation service, has updated its iPhone app that adds Apple Pay support..."
  • Bank of England payment system crashes - Guardian - The Bank of England said it had “identified a technical issue related to some routine maintenance of the RTGS payment system and has paused settlement while we resolve it”.
  • Apple Pay Rolls Out, With Holes in System - Wall St. Journal - "Many retailers—including the nation’s largest, Wal-Mart Stores Inc. —aren’t part of Apple’s network. Only a minority have machines capable of reading the near-field communication radio signal that makes Apple Pay work."
  • Apple Pay Faces Lighter Compliance Than Paypal, Google - WSJ Risk and Compliance Journal - “If the device maker does not accept and transmit value, and just transmits encrypted card information that is used by the regular payment system to process the payment among regular participants, it wouldn’t be a money transmitter...”
  • Recurly Raises $12M To Chart the Future of Recurring Billing - Recurly Blog - "We are excited about bringing on a new set of world-class investors - Devonshire Partners and Greycroft Partners - who will add to our existing bench comprised of Polaris Partners, e.ventures, Harrison Metal and Freestyle.vc."

On the Wires:

Updates from Glenbrook:

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

October 16, 2014

Headline News from PaymentsNews.com - October 16, 2014

On the Web:

  • A Central Bank Takes on Mobile Payments - PaymentsViews.com (Elizabeth McQuerry) - "Ecuador’s Central Bank has embarked on an ambitious course to launch an affordable and widely available mobile payment scheme. In fact, it will be the national wallet."
  • Going Live with Apple Pay Using Our v.zero SDK_ - Braintree Blog - "Braintree’s v.zero SDK gives merchants the ability to easily add Apple Pay to their apps and allows for the control and flexibility they need to provide the best payment experiences for their customers - whether it’s credit cards, debit cards, wallets like PayPal and Apple Pay and even bitcoin (coming soon)."

On the Wires:

  • New Yardi Genesis2 Platform Hits the Market - "Designed with both residential and commercial portfolio operators in mind, Yardi Genesis2 includes an integrated general ledger with streamlined accounts receivable and accounts payable along with features for multifamily such as online rent payments, automated common area maintenance (CAM) reconciliations for commercial, and overage tracking for retail clients."

Updates from Glenbrook:

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

September 25, 2014

Headline News from PaymentsNews.com - September 25, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

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

September 23, 2014

Headline News from PaymentsNews.com - September 23, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

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

September 15, 2014

Headline News from PaymentsNews.com - September 15, 2014

On the Web:

  • The New AmEx - Barron's - "While 64% of card purchases were for travel and entertainment in 1990, those areas now make up just 26% of spending on the cards."
  • The Critical Path #122: Where the Money is - Asymco.com (Horace Dediu) - "How and why does Apple get paid for Apple Pay? Anders and Horace dive into the payments value chain and break it all down for you: whats in it for users, merchants, issuing banks and payment networks."
  • Why Apple Pay could succeed where others have had underwhelming results - ArsTechnica - "Instead, Apple Pay will succeed where others have seen only tepid results because of timing (that key element in both comedy and product launches)."
  • Did Apple just become a big bank? - TheHill.com - “People have been paying in the United States using plastic cards for 40 years. This is, without question, the most significant technological change in payments in four decades.”
  • The Digital Wallet Revolution - New York Times - "That’s the sort of thing that the current generation of digital wallets already promises; the only obstacle is adoption by retailers. But that won’t be an obstacle for long. Frictionless exchange is a killer app."
  • Digital Wallets - Credit Slips (Adam Levitin) - "The term "digital wallet" gets used a lot without much precision. It's important to understand what a digital wallet is, and isn't."
  • Mobile operators abandon joint 'wave and pay' project as Apple looms - Telegraph (UK) - "Weve, a company owned by EE, O2 and Vodafone, has abandoned plans for a standard 'mobile wallet’ service that it was hoped would make it easier for retailers and banks to work with the operators."
  • The ATM and the Battle for Bitcoin’s Physical Interface - CoinDesk - "The ATM Industry Association released a position paper on bitcoin ATMs this month, calling for greater regulation and welcoming bitcoin ATM operators into the fold."

On the Wires:

Updates from Glenbrook:

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

September 09, 2014

Headline News from PaymentsNews.com - September 9, 2014

On the Web:

On the Wires:

  • Apple Announces Apple Pay - “Security and privacy is at the core of Apple Pay. When you’re using Apple Pay in a store, restaurant or other merchant, cashiers will no longer see your name, credit card number or security code, helping to reduce the potential for fraud,” said Eddy Cue, Apple’s senior vice president of Internet Software and Services.
  • Apple Announces iPhone 6 & iPhone 6 Plus—The Biggest Advancements in iPhone History - "For the first time iPhone is available in two new sizes: iPhone 6 features a stunning 4.7-inch Retina® HD display with 1334 x 750 resolution, providing 38 percent more viewing area than iPhone 5s, while iPhone 6 Plus features an even bigger 5.5-inch Retina HD display with 1920 x 1080 resolution, providing 88 percent more viewing area and nearly three times the pixels than iPhone 5s."
  • MasterCard Works with Apple to Integrate Apple Pay - “We have been a pioneer of mobile commerce innovation for years – including the world’s first contactless and mobile payment solutions. We're thrilled that MasterCard cardholders will soon be able to make payments from their iPhone 6, iPhone 6 Plus and Apple Watch, knowing that every purchase is secure and offers all the same guarantees and benefits they've come to expect from using their MasterCard.”
  • Visa and Apple Opening a New Era of Payments on Mobile Devices - “Combining the trust, scale and security of Visa payments with Apple Pay will accelerate adoption of mobile payments,” said Charlie Scharf, Chief Executive Officer, Visa Inc. “We said from the beginning that token services would provide great new consumer and merchant experiences, and you’re seeing it today in our efforts with Apple, and there’s more to come.”
  • Capital One Brings Payment Innovation to Customers with Apple Pay - “Working with Apple, we’re excited to bring Apple Pay to tens of millions of Capital One customers,” said Frank LaPrade, Chief Enterprise Services Officer, Capital One Financial Corporation. “We are laser-focused on the evolution of digital products and services. Our goal is to provide our customers with payment options that help them succeed and simplify their lives.”
  • U.S. Bank Provides Customers an Easy Way to Pay with Apple Pay - “Having been a part of a group of industry leaders paving the way to more convenient and secure mobile and online payments, it’s clear that Apple Pay is a tremendous step forward,” said Pamela Joseph, vice chair and head of the payments division at U.S. Bank. “Consumers are never far from their mobile devices, so making it safer and easier to pay with those devices is great news for our customers and for the industry. Combining Apple’s history of innovation with the scale and loyalty of U.S. Bank, Apple Pay has the ability to impact and drastically accelerate the adoption of mobile payments."
  • Visa Launches Innovative Token Service - "Visa Token Service replaces sensitive payment account information found on plastic cards with a digital account number or “token”. Because “tokens” do not carry a consumer’s payment account details, such as the 16-digit account number, they can be safely stored by online merchants or on mobile devices to facilitate ecommerce and mobile payments."
  • NCR to Help Industries Integrate Apple Pay - “With Apple Pay, Apple has transformed mobile payments and will have an impact on the industry like never before. We are thrilled to be working closely with Apple to help Retail and Hospitality customers integrate this new method of payment into their operations, providing an easy, safe and secure way to pay with a single touch,” said Jimmy Fortuna, Vice President of Product Development and Chief Technology Officer, NCR Hospitality.
  • The Debut of Apple Pay Creates a Dynamic New Platform for Powerful First Data Transaction Technology - “Apple Pay has transformed mobile payments in a way that our clients will love, and will have an impact on the industry like never before,” said Frank Bisignano, First Data’s Chairman and CEO. “We’re thrilled to bring First Data solutions to support Apple Pay, along with the financial institutions, merchants developing apps and consumers to provide an easy, safe and secure way to pay with a single touch.”
  • TSYS Supports Apple Pay - “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, 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.”
  • The Home Depot Provides Update on Breach Investigation - “We apologize for the frustration and anxiety this causes our customers, and I want to thank them for their patience and support as we work through this issue,” said Frank Blake, chairman and CEO.

Updates from Glenbrook:

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

September 05, 2014

Headline News from PaymentsNews.com - September 5, 2014

On the Web:

On the Wires:

  • Catalina Acquires Cellfire, Becomes Leader in CPG Load-to-Card Digital Couponing - "Catalina, the personalized digital media company, today announced that it has entered into a definitive agreement to acquire Cellfire, the leading provider of load-to-card (L2C) digital coupons in the consumer packaged goods (CPG) market. In response to shopper demand for digital and mobile coupons, this acquisition makes Catalina the leading provider of L2C digital coupons in the CPG industry..."

Updates from Glenbrook:

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

August 25, 2014

Headline News from PaymentsNews.com - August 25, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

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

August 19, 2014

Braintree and PayPal Bring Developers One Touch Mobile Payments

Braintree logo 140pxIn a blog post this morning, Braintree's Bill Ready introduced a new way to pay on mobile devices - called One Touch (available in beta). Ready writes:

With just a few lines of code, app developers will now be able to accept payments from millions of PayPal users… in one touch. Typing in and remembering userIDs, passwords and card numbers will quickly become a thing of the past as one touch payments will be the magical experience that customers expect, turning shoppers into buyers and app downloads into active users.
Writing on ReadWrite, Owen Thomas notes that One Touch is "a service that lets any Braintree-powered app tap into credit cards a user has already stored with another app in the Braintree family" - including the PayPal mobile app. One Touch builds upon Braintree's earlier Venmo Touch service - which it acquired in 2012.

July 31, 2014

Headline News from PaymentsNews.com - July 31, 2014

On the Web:

On the Wires:

  • MasterCard Incorporated Reports Second-Quarter 2014 Financial Results - “We are pleased with another quarter of solid performance, driven by healthy volume and revenue growth,” said Ajay Banga, president and CEO, MasterCard. “We continue to invest in our strategic initiatives, including acquisitions, while strengthening partnerships with banks, merchants, governments and mobile operators to grow and improve our business and theirs.”
  • Vantiv Reports Second Quarter 2014 Results - "The second quarter marks an exciting time at Vantiv," said Charles Drucker, president and chief executive officer at Vantiv. "We delivered another solid quarter of growth, and we executed on many of our strategic initiatives. By investing in high-growth channels, we have positioned Vantiv as a leader in the industry that will win share as the market evolves."
  • LifeLock Announces New Personalized Alerts Across Credit Cards, Checking, Savings and Investment Accounts - LifeLock President Hilary Schneider said, “Only LifeLock can monitor for identity theft across such a broad array of a consumer’s financial accounts, going significantly beyond simple credit monitoring. Consumers now have even more tools to give themselves peace of mind. This is particularly important in a digital world where identity thieves are constantly changing tactics"
  • BitFury Announces Hosted Mining Services - "BitFury is one of the oldest and largest Bitcoin miners in the world. Some 40 percent of all Bitcoins are mined using BitFury chips."

Updates from Glenbrook:

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

July 25, 2014

Headline News from PaymentsNews.com - July 25, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

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

July 24, 2014

Headline News from PaymentsNews.com - July 24, 2014

On the Web:

On the Wires:

  • LoopPay Secures Investment from Visa Inc. - “Visa continually evaluates and invests in new technologies that have the potential to transform mobile devices into secure payment vehicles,” said Jim McCarthy, senior vice president of innovation and strategic partnerships, Visa Inc. “LoopPay has developed compelling technology that has the potential to enable merchants to accept payments from mobile devices using their existing point-of-sale infrastructure.”
  • Citi® Commercial Cards Joins With Concur® to Offer a New, Enhanced Reporting Solution - We’re excited to partner with Concur, a recognized leader in the industry, to provide these reporting packages to our clients. These enhanced travel reports will not only provide efficiencies for our customers by automating current manual processes, but also enable clients to make key travel program decisions more quickly and with more confidence,” noted Manish Kohli, Citi’s Global Head of Commercial Cards.
  • Discover® Fuels Summer Fun with Cashback Bonus® at Gas Stations - “Discover cardmembers who are commuting or traveling can earn up to $75 Cashback Bonus for the many miles they drive during the summer months,” said Heather L. Roche, vice president of rewards at Discover.

Updates from Glenbrook:

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

July 23, 2014

Headline News from PaymentsNews.com - July 23, 2014

On the Web:

On the Wires:

  • TSYS Reports Second Quarter 2014 Total Revenues Increased 30.4% - "We set another milestone this quarter with total revenues of over $600 million for the first time in TSYS’ history. It was an outstanding quarter with our consolidated adjusted operating margin improving 357 basis points over the first quarter to 24.94%," said Philip W. Tomlinson, chairman and chief executive officer of TSYS.
  • OT Expands Its M2M and IoT Offer to Application Enablement with Cumulocity - “Connected objects are expected to reach tens of billions by 2020. OT’s comprehensive, robust and flexible M2M offer is designed to help our customers tackle the challenges and seize the full benefits of upcoming Internet of Things growth while addressing the very important security aspects related to IoT. By joining forces with Cumulocity we are extending our offer beyond connectivity and security and moving up the M2M value chain” said Marek Juda, Managing Director of the Solutions Business Unit at OT.

Updates from Glenbrook:

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

July 17, 2014

Headline News from PaymentsNews.com - July 17, 2014

On the Web:

  • We are excited to announce that Twitter is acquiring CardSpring! - CardSpring Blog - "When we started talking with the Twitter commerce team, we quickly realized our philosophies were perfectly aligned, and by joining them, we’d be able to significantly accelerate our vision."
  • Welcoming CardSpring to the Twitter team - Twitter Advertising Blog - "We’re excited to announce we’ve agreed to acquire CardSpring, a payments infrastructure company that helps merchants work with leading publishers to create online-to-offline promotions."
  • Coming Soon to Social Media: Click to Buy Now - New York Times Bits Blog - "A Twitter spokesman declined to comment on the imminence of a buy button, but in its blog post about CardSpring, the company teased, “We’ll have more information on our commerce direction in the future.”
  • What the BRICS Tell Us About Payments - PaymentsViews.com (Elizabeth McQuerry) - "Are such state sponsored payments improvements the way to go? Am I prophesying that the end is near for private sector innovation in payments? Certainly not, or at least I hope not."
  • Snapchat may be planning a mobile payment service - iMore.com - "The documents reveal that the ephemeral message service is looking to process peer-to-peer payments, money transfers and online payments."
  • Investors Cash Out Of Payment Technology Startups - TechCrunch - "Even as a clutch of new payment technology companies including Zooz Mobile and Plastiq announce new financing rounds today, it seems like investors are no longer paying out for payment companies."
  • Issuers – Why You Need to Plan for EMV Now - FIS Emerging Payment Strategies Blog - "While EMV is not a silver bullet, it is an improvement over magstripe. It may not have prevented some of the recent major breaches, but it would have reduced overall damage since there would have been fewer cards vulnerable to counterfeiting."
  • New York’s New Bitcoin Rules Are Going to Kill Its Startups - Wired - "Is New York about to drive these startups out of town by clubbing them with onerous regulations before they can walk? Quite possibly."

On the Wires:

  • NY DFS Releases Proposed Bitlicense Regulatory Framework for Virtual Currency Firms - "Benjamin M. Lawsky, Superintendent of Financial Services, today announced that the New York State Department of Financial Services (DFS) has issued for public comment a proposed “BitLicense” regulatory framework for New York virtual currency businesses. The proposed regulatory framework – which is the product of a nearly year-long DFS inquiry, including public hearings that the Department held in January 2014 – contains consumer protection, anti-money laundering compliance, and cyber security rules tailored for virtual currency firms."
  • CU Wallet Reports Record Growth, 65 Credit Unions Join Mobile Wallet Movement - "Collaboration among credit unions continues to be one of our industry's greatest strengths,” said Keith Sultemeier, president and CEO of Kinecta Federal Credit Union. “The CU Wallet platform makes collaboration easy and efficient, but still allows credit unions to tailor the member experience."
  • CashStar Launches Digital Gift Card Solution for Google Wallet - “With the rapid growth of omni-channel retail, digital gifting and smartphone adoption, CashStar’s vision is not ‘mobile first’ but rather ‘mobile everything,’” said Ben Kaplan, president and CEO of CashStar.
  • MasterPass Now Live in 10 Countries with Launches in Poland and South Africa - “We’re extremely excited about new capabilities and delivering on the MasterPass vision of a fully integrated digital payments ecosystem that enables convenient, simple, fast and secure payments anytime, anywhere,” said Vib Prasad, Group Head, MasterPass at MasterCard.
  • WEX Inc. Announces Signing of Definitive Purchase and Sale Agreement Related to the Acquisition of ExxonMobil’s Esso Card Program - “The purchase of the Esso Card portfolio remains an important element to building our on-the-ground presence in the European market, and enhances WEX’s long-term growth profile. Our efforts to advance this transaction remain on track and position us to create a substantial and profitable European footprint,” said Melissa Smith, WEX’s president and chief executive officer.

Updates from Glenbrook:

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

July 16, 2014

Visa Introduces Visa Checkout

Visa 2014 logo 140x60Visa has introduced Visa Checkout - replacing its earlier V.me offering with a new service "that enables consumers throughout the United States, Canada and Australia to pay for goods online, on any device, in just a few clicks."

“As people around the world spend more time and money online, particularly using mobile devices, they are demanding a fast, secure and frictionless way to shop using the payment cards they already know and trust,” said Charlie Scharf, chief executive officer, Visa Inc.

“Through insights provided by our cardholders, financial institutions and merchant partners, we designed an online payment experience that continues to deliver on this promise, bringing us closer to the simplicity and speed of the ‘swipe’ in the online world.”

Neiman Marcus, Pizza Hut, Staples and United Airlines are some of the newest merchants who will offer Visa Checkout. They join other top online retailers, such as 1-800-FLOWERS®, Beyond the Rack, Cineplex Entertainment, Jos. A. Bank, Live Nation, lululemon athletica, MovieTickets.com, Newegg, Rakuten.com, Teleflora, Ticketmaster, TigerDirect and Wine Enthusiast which plan to use Visa Checkout for quick and easy payments. Visa Checkout replaces the V.me by Visa service, first introduced in 2012.

Leading payments card issuers, community banks, and credit unions are all participating in Visa Checkout including more than 180 financial institutions and organizations around the world.

Headline News from PaymentsNews.com - July 16, 2014

On Twitter:



On the Web:


  • Plastiq inks $10 mln led by Khosla Ventures - Reuters PE Hub - “At Plastiq, we are laser-focused on bringing payment choice to North American cardholders by enabling them to make payments with their card in instances when they otherwise could not,” said Eliot Buchanan, CEO and co-founder of Plastiq.

  • TMG Builds Wearable #Payments App for @GoogleGlass - TMG Blog - "TMG Senior Product Manager Brian Day, in a presentation aptly named “The Future of Payments,” gave a demonstration of how this custom-built wearable payments app works."

  • Israeli Payments Startup Zooz Closes $12 Million Round - Wall St. Journal Digits - "According to Oren Levy, Zooz CEO and co-founder, the company is currently focusing on allowing enterprise clients to integrate Zooz solutions into existing billing and customer relationship software."

  • Oversight Issues in Mobile Payments - International Monetary Fund - "International experience suggests that financial authorities can develop effective oversight frameworks for new payment methods to safeguard public confidence and financial stability by establishing: (i) a clear legal regime; (ii) proportionate AML/CFT measures to prevent financial integrity risks; (iii) fund safeguarding measures such as insurance, similar guarantee schemes, or “pass through” deposit insurance; (iv) contingency plans for operational disruptions; and (v) risk controls and access criteria in payment systems."

On the Wires:


  • Visa Opens San Francisco Technology Center to Advance Innovation in Payments - "The centerpiece of One Market will be an innovation center designed to provide an immersive experience for clients and partners, where they can interact with Visa subject-matter experts, and explore new products and technologies that advance the payment experience in areas such as mobile, security and cloud-based technologies. The space has been designed to encourage dynamic interaction and real-time experimentation, and is expected to attract Bay Area technology talent who want to develop the next generation of commerce solutions by working with the industry leader in payments."

  • Visa Presents the Future of Commerce with New Innovation Center and Launch of Visa Checkout - "The move provides Visa technologists, its clients, and partners an innovative space to jointly develop the next generation of commerce applications. As a part of the grand opening of One Market today, Visa also announced the launch of Visa Checkout, a quick and easy payment service that enables consumers throughout the United States, Canada and Australia to pay for goods online, on any device, in just a few clicks."

  • Mercury StoreCard™ Now Available - "The Mercury StoreCard lets merchants brand their own reloadable card for accepting customer payments. The cardholder can use a quick-response (QR) barcode on the back of the card to access their prepaid card account on their smartphone."

  • CARDFREE and XPIENT Solutions Partner for Omni-Channel Services for Restaurants - “Traditionally, integration to restaurant commerce technology, especially, point of sale systems are quite a hurdle in mobile commerce deployments,” commented Jon Squire, founder and chief executive officer of CARDFREE, “with XPIENT and their cloud-based Commerce Engine which provides immediate and seamless access to the POS, this is as easy as it can get, allowing us to quickly deploy our full suite of services."

  • New GfK Survey Shows 60% of US Consumers Have Used a Branded Prepaid Payment Card - "According to the findings from GfK’s omnibus survey, users from different age and income groups are satisfied with their prepaid card experience. Although user segments at times cite different benefits as most important to them, “ease of use” is the overall top reason for liking prepaid cards. Nearly two-thirds of respondents in the GfK survey say that using prepaid cards is the same as or better than using a checking account or cash."

Updates from Glenbrook:


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

July 14, 2014

Headline News from PaymentsNews.com - July 14, 2014

On the Web:

  • Bitcoin and Charities - A VC (Fred Wilson) - "If you own Bitcoin, at Coinbase or in your own wallet, you can gift your Bitcoins to charity and save them pretty much all of their online fundraising costs."
  • Beware Keyloggers at Hotel Business Centers - Krebs on Security - "The next hotel business center you visit may be completely locked down and secure, or it could be wide open and totally overrun with malware. The trouble is that there is no easy way for the average guest to know for sure."
  • Curated Food Delivery Startup Caviar In Talks To Be Acquired By Square For $100 Million - TechCrunch - "Caviar is one of many new startups that seeks to enable customers to order meals online and have them delivered in a short period of time."
  • The Password Is Finally Dying. Here's Mine - Wall St. Journal - "Google is working on an as-yet unnamed protocol that allows you to connect to your online accounts on any device by authenticating yourself with your smartphone."
  • Why Jack Ma Separated Alipay In Alibaba’s Words - Wall St. Journal Digits - “This action enabled Alipay to obtain a payment business license in May 2011 without delay and without any detrimental impact to our China retail marketplaces or to Alipay.”

On the Wires:

Updates from Glenbrook:

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

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