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Mobile Payments

Welcome to the News View for "Mobile Payments".

Here, on these archive pages, you'll find all of the articles on Payments News for Mobile Payments 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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January 12, 2016

Headline News from PaymentsNews.com - January 12, 2016

ON THE WEB

ON THE WIRES

  • Wells Fargo Launches Third Propel American Express Card - “In 2014, we launched our first two Propel American Express Cards as part of our goal to earn more of our customers’ business,” said Beverly Anderson, head of Consumer Financial Services for Wells Fargo. “Since then, we have heard from our customers that they like the Propel 365 Card and Propel World Card but wanted us to find a way to offer a card with similar features without paying an annual fee – so that’s what we did.”
  • More Leading Merchants Choose Visa Checkout to Increase Online and Mobile Sales - "Starbucks, Walgreens, NFL Shop, HSN and Match are among the new merchants taking advantage of Visa Checkout’s ability to deliver seamless digital payments. Walmart.com will also begin supporting Visa Checkout this year."
  • Introducing Uber Trip Experiences - "During the holidays, we completed our billionth trip. Added together that’s a lot of time riders spend in an Uber. Which got us thinking … what if developers could also offer users of their apps new ways to enjoy themselves — or get stuff done — while they’re on the road?"
  • FreedomPay Expands Global Products and Services on Microsoft Azure - "With this collaboration, FreedomPay offers end-to-end protection for credit card payments made through FreedomPay’s Commerce Platform, which is supported by Azure. The FreedomPay Commerce Platform is the world’s first PCI-Validated P2PE payments solution with EMV, NFC, DCC and real-time data capabilities that can deliver on a global scale."
  • Remitly Approaches $1 Billion in Annualized Mobile Money Transfers as Company Continues Rapid Growth - "Remitly offers money transfers from the United States to the Philippines, India and Mexico, which alone account for more than 35 percent of all remittances originating in the United States. The company will continue to take a customer-focused approach by focusing on the largest markets as it expands globally."
  • Network International to launch cashless, cardless and mobile-free payment solution - "The next generation solution, led by Dubai Smart Government (DSG) and developed by Quisk, will be deployed by Network International across its points of sale (POS) merchant network in the United Arab Emirates in 2016, enabling people to conduct payment transactions without the use of cash, cards or their mobile phones."

EVENTS

  • Payments in Portland (OR) - Join us Thursday, January 28th from 5:30-7:30 PM to hang out with your colleagues and competitors to discuss all things payments! We'll have appetizers, Oregon beer and wine. For the first time, Payments in Portland is including a short topical briefing - this month on "B2B Payments - Promise and Problems." If you have a Portland payments presence and something to say on B2B payments, let us know! RSVP HERE!

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 07, 2016

Headline News from PaymentsNews.com - January 7, 2016

ON THE WEB

  • MasterCard embeds payment in devices - Chain Store Age - "This collaboration builds upon MasterCard’s October 2015 introduction of the Commerce for Every Device program to enable any consumer gadget, accessory or wearable to become a payment device."
  • Five Fintech Trends for 2016 - BBVA Blog - "The blockchain infrastructure was reinforced in 2015, with strengthening involving mining, exchanges, wallets and processors. 2016 is about innovating on top of it."

ON THE WIRES

EVENTS

  • Payments in Portland (OR) - Join us Thursday, January 28th from 5:30-7:30 PM to hang out with your colleagues and competitors to discuss all things payments! We'll have appetizers, Oregon beer and wine. For the first time, Payments in Portland is including a short topical briefing - this month on "B2B Payments - Promise and Problems." If you have a Portland payments presence and something to say on B2B payments, let us know! RSVP HERE!

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 06, 2016

Headline News from PaymentsNews.com - January 6, 2016

ON THE WEB

  • Samsung Pay watch app coming soon - PhoneArena - "Samsung's own mobile payment system — Samsung Pay — will also become available on both the Gear S2 and Gear S2 Classic.
  • Ethereum Will Arrive (and 15 Other Blockchain Predictions for 2016) - CoinDesk - "Scalability will become the holy grail of public blockchain tech."
  • Record-Breaking Holiday Season for the App Store - Apple - "In the two weeks ending January 3, customers spent over $1.1 billion on apps and in-app purchases, setting back-to-back weekly records for traffic and purchases. January 1, 2016 marked the biggest day in App Store history with customers spending over $144 million. It broke the previous single-day record set just a week earlier on Christmas Day."
  • Corporate Governance and Blockchains - Harvard Law School - David Yermack - "In this paper, I identify in more detail how the use of blockchains could affect corporate governance from the perspective of corporate managers, institutional investors, debt investors, auditors, and other groups."

ON THE WIRES

  • MasterCard and Coin Sign Agreement to Power Wearable Payments - “The great thing about the MasterCard program is that we are adding payment functionality to items that consumers are already using – fitness bands, jewelry, clothing, watches,” said Sherri Haymond, Senior Vice President, Digital Payments, MasterCard. “This makes the products more useful for consumers and enhances the value device manufacturers can deliver to their customers. Coin complements that approach and enables us to reach an expanded set of device partners.”
  • SWIFT announces 10% rebate on 2015 messaging - "The 10 percent rebate comes on top of the 2015 discount for high volume connections, which we estimate to have totalled EUR30 million," added Francis Vanbever, CFO at SWIFT. "In 2010, SWIFT set out a multi-year strategy to cut message prices in half by the end of 2015. We already reached our price reduction commitment at the end of 2014, one year ahead of schedule. By the end of 2015, the total price reduction over the 5-year period reached 57 percent."
  • MasterCard, Samsung Make Everyday Shopping Easier in Tomorrow’s Smart Home with Launch of Groceries by MasterCard App - "The first shopping app integrated into a refrigerator, Groceries by MasterCard connects consumers to leading grocers in the most convenient and efficient setting – their kitchen. Groceries redefines the family grocery shopping experience by allowing households to share, build, manage and modify their grocery lists and shopping carts throughout the week."

EVENTS

  • Payments in Portland (OR) - Join us Thursday, January 28th from 5:30-7:30 PM to hang out with your colleagues and competitors to discuss all things payments! We'll have appetizers, Oregon beer and wine. For the first time, Payments in Portland is including a short topical briefing - this month on "B2B Payments - Promise and Problems." If you have a Portland payments presence and something to say on B2B payments, let us know! RSVP HERE!

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, 2016

Headline News from PaymentsNews.com - January 5, 2016

ON THE WEB

  • Enough with the 2016 Predictions – Let’s Think Bigger! - Payments Views (Allen Weinberg) - "As I was slogging through the many payments-related articles and blog posts reminiscing about 2015 events and making predictions for what may or may not be ahead in 2016, I thought of a conversation I had with Scott Loftesness around 20 years ago, sometime in 1995 or 1996. "
  • The Future of Mobile Chatting: Commerce - Wall St. Journal - "Five years later, WeChat’s hundreds of millions of users in China tap the service to send money to friends, buy shoes and even book doctors’ appointments."
  • Apple Pay may have found its perfect market in China - Quartz (Ian Kar) - "All told, conditions couldn’t be better: retailers are ready to support the technology (which has been an issue in the US), consumers are comfortable and experienced with mobile payments, and a lot of iPhones are Apple Pay compatible."
  • Thought Bitcoin Was Dead? 2016 Is the Year It Goes Big - Wired - “In 2015, we saw a lot of financial institutions, banks, thought leaders say: ‘It’s not about bitcoin, it’s about blockchain.’ That is a mistruth.”
  • Man Has 1,497 Credit Cards - ABC News - "Walter Cavanagh has 1,497 valid credit cards -- all of which amount to a $1.7 million line of credit."

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!

January 04, 2016

Headline News from PaymentsNews.com - January 4, 2016

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!

December 22, 2015

Headline News from PaymentsNews.com - December 22, 2015

PROGRAMMING NOTE

  • This is our last edition of 2015. Payments News will be taking a publishing hiatus for the holidays! We'll be off starting Dec. 23 through Jan. 3 - our next edition will be published on Monday, January 4. I want to extend to you my best wishes for a happy holiday season and a wonderful New Year! I'll see you next year!

ON THE WEB

  • AmEx reinstates rule prohibiting merchant steering - MarketWatch (Robin Sidel) - "After receiving a favorable court ruling last week, American Express Co. is reinstating its longtime policy that prohibits merchants from steering customers to cheaper forms of payment."
  • How Blockchain Will Transform Business and Society - IBM Think Blog (Arvind Krishna) - "It’s essential for blockchain technology to be developed following the open source model so a critical mass of organizations will coalesce around it—and reap its full benefits."
  • Starbucks is 2015 Mobile Retailer of the Year - Mobile Commerce Daily - "Perhaps no other retailer today better understands the crossover between customers’ love affair with their smartphones and when and where they want to engage with the brand..."
  • National Security Implications of Virtual Currency - Rand Corporation - "This report examines the feasibility for non-state actors, including terrorist and insurgent groups, to increase their political and/or economic power by deploying a virtual currency (VC) for use in regular economic transactions."
  • How Jack Dorsey Runs Both Twitter, Square - Wall St. Journal - "For now, Mr. Dorsey appears to be sticking to a meticulous schedule with long hours."
  • SpaceX finally achieves its first successful landing - Economist - Editor's note: This has nothing to do with payments but a lot to do with economics - and technology. I couldn't resist mentioning it!

ON THE WIRES

  • Idaho Department of Agriculture is First to Launch NIC’s eGovExpress Digital Wallet - "Serving as a virtual pocketbook, eGovExpress securely consolidates Visa, MasterCard, Discover, American Express, pre-paid gift cards and electronic check information into one password-protected online location, thus eliminating the need for customers to juggle multiple accounts in various places and repeatedly enter payment information."

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 21, 2015

Headline News from PaymentsNews.com - December 21, 2015

On the Web

On the Wires

Updates from Glenbrook:

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

December 18, 2015

Headline News from PaymentsNews.com - December 18, 2015

On the Web

On the Wires

  • Apple & China UnionPay to Bring Apple Pay to China - “Apple Pay has revolutionized the way millions of people pay every day with their iPhone, Apple Watch and iPad,” said Eddy Cue, Apple’s senior vice president of Internet Software and Services. “China is an extremely important market for Apple and with China UnionPay and support from 15 of China’s leading banks, users will soon have a convenient, private and secure payment experience.”
  • CPA Releases Multi-Year Data on Canadian Payment Methods and Trends - "The research provides important insights for the industry and the Canadian Payments Association as we look to modernize the country's clearing and settlement systems," said Gerry Gaetz, President and CEO of the CPA. "While traditional payments clearly continue to fill a vital role, the data shows an accelerating shift to new channels for electronic payments."

Updates from Glenbrook:

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

December 17, 2015

Headline News from PaymentsNews.com - December 17, 2015

On the Web

On the Wires

Updates from Glenbrook:

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

December 16, 2015

Headline News from PaymentsNews.com - December 16, 2015

On the Web

  • Merchants Go on Offense in Digital Payments - PaymentsViews.com (Bryan Derman) - "We are now seeing that economic leverage gradually imposed on the rest of the payment value chain (short-circuiting network fees through negotiated, bilateral interchange) in a way that more fully reflects their importance of major retailers in the dominant consumer sector of the U.S. economy."
  • Federal Reserve issues FOMC statement - "Given the economic outlook, and recognizing the time it takes for policy actions to affect future economic outcomes, the Committee decided to raise the target range for the federal funds rate to 1/4 to 1/2 percent."
  • Braintree Drives Commerce Forward with Facebook Messenger and Uber - Braintree Blog - “We are excited to partner with Braintree to offer users increased convenience, flexibility, and security,” said P.J. Linarducci, Facebook Head of Payment Products.
  • Australia banks agree Android Pay deal, Apple Pay still frozen out - Reuters - "It's a big bargaining chip for (Australian) banks to use to force a better deal with Apple," said Foad Fadaghi, managing director of technology research firm Telsyte.
  • Paytm’s Founder On Its Online-To-Offline Strategy In India - TechCrunch - "In India, Paytm also wants to position itself as a better option than credit cards, which are slowly gaining in popularity but still used by relatively few Indian consumers."
  • Asia-Pacific Is Home to Majority of World Retail Ecommerce Market - eMarketer - "For the first time, the region will not only have the largest digital retail market in the world, but its share of global digital retail spend will also reach 52.5%—the first time it holds an outright majority of the world market."

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, 2015

Headline News from PaymentsNews.com - December 15, 2015

On the Web

On the Wires

Updates from Glenbrook:

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

December 14, 2015

Headline News from PaymentsNews.com - December 14, 2015

On the Web

  • Interchange Regulation Comes to Europe - PaymentsViews.com (George Peabody) - "Interchange galvanizes the attention of regulators around the world like iron filings to a magnet. Everyone in card payments watches their moves closely because of its economic impact on merchants, card networks, issuers, acquirers and, in theory, consumer pricing. European regulators are among the most recent to weigh in."
  • Former Wall St titans shake-up banking with fintech investments - FT.com - "They made their name on Wall Street. Now, they are trying to disrupt it."
  • Blockchain Startup Digital Asset Hires SWIFT and SunGard Veterans - CoinDesk - "“With more than 50 years of combined experience in the financial and technology sectors, Cris and Chris have a deep understanding not only of the marketplace, but of what we are building and they will be invaluable to our continued growth," Digital Asset CEO Blythe Masters said in a statement.

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 11, 2015

Headline News from PaymentsNews.com - December 11, 2015

What I'm Reading

  • This week your editor has been enjoying reading America's Bank: The Epic Struggle to Create the Federal Reserve by Roger Lowenstein.
  • From the description: "A tour de force of historical reportage, America’s Bank illuminates the tumultuous era and remarkable personalities that spurred the unlikely birth of America’s modern central bank, the Federal Reserve. Today, the Fed is the bedrock of the financial landscape, yet the fight to create it was so protracted and divisive that it seems a small miracle that it was ever established. "
  • How about you? What are you enjoying? Drop me a quick note and tell me about it: editor@paymentsnews.com

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!

December 10, 2015

Headline News from PaymentsNews.com - December 10, 2015

On the Web

  • Walmart Prepares to Enter Mobile Payments Business - New York Times - "Based on QR code technology, Walmart’s new payment system is meant to allow for a smoother trek through checkout lines, and to bridge the retailer’s e-commerce and in-store shopping experience."
  • Wal-Mart to Offer Smartphone Payments in Stores - Wall St. Journal - "The retail behemoth is adding a feature to its existing mobile app so consumers can pay at the register with any payment information stored in their Walmart.com account, including gift cards, debit cards or credit cards."
  • Edgecoin: Our Internal Blockchain for Founders - Medium (KPCB Edge) - "Today, we’re announcing Edgecoin — a private, permissioned blockchain we use as a ledger of record for founders. We started testing Edgecoin in early 2015 with founders in our portfolio and are now announcing it publicly as we begin scaling up the base of people using Edgecoin."
  • Commonwealth Bank says blockchain may transform trade finance, share trading - Sydney Morning Herald - "Blockchain technology could transform trade financing, share trading and many other parts of banking and the broader economy, says the chief information officer of the Commonwealth Bank of Australia, David Whiteing."

On the Wires

  • Walmart Introduces Walmart Pay - "”The Walmart app was built to make shopping faster and easier,” said Neil Ashe, president and CEO of Walmart Global eCommerce. “Walmart Pay is the latest example – and a powerful addition – of how we are transforming the shopping experience by seamlessly connecting online, mobile and stores for the 140 million customers who shop with us weekly.”"
  • VocaLink and The Clearing House sign a groundbreaking deal to deliver national real-time payment services in the U.S. - James Aramanda, President and Chief Executive Officer at The Clearing House said: “Finalizing this partnership with VocaLink represents a significant milestone in our effort to make ubiquitous real-time payments a reality in the U.S. Once completed, customers will pay or receive money in real-time from any financial institution, and with its innovative extensible design the system will be built to provide the basis for payment solutions currently unimagined."
  • Samsung Pay Makes It Easy to Purchase, Store, Use and Share Gift Cards Directly from Your Phone - "With the support of more than 50 major retail gift cards and the launch of the in-app gift card store, Samsung Pay is bringing consumers an easier way to use gift cards,” said Injong Rhee, EVP of Samsung Electronics, Global Head of Samsung Pay.
  • SWIFT announces global payments innovation initiative - Gottfried Leibbrandt, CEO, SWIFT said: "Correspondent banking serves the industry with millions of secure cross-border payments day in, day out; with this initiative we are building on those strengths, enabling banks to provide distinctive cross-border payments services and providing real benefits to end customers. This is a critical step in cross-border payments innovation."
  • Bank of America’s Year-End Millennial Snapshot Reveals the Great Recession and Family Experiences Impact Financial Attitudes - “The events taking place when millennials were coming of age are visibly impacting their financial decisions and behaviors. This will be especially apparent as they become the money managers for their households,” said John Jordan, Client Experience and Programs executive for Preferred and Small Business Banking at Bank of America.

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 04, 2015

Headline News from PaymentsNews.com - December 4, 2015

On the Web

  • Apple Makes A Beeline For Carrier Billing In Emerging Markets, Starting With Russia - Techcrunch - "It’s therefore a perfect storm for Apple and carrier billing: countries like Russia represent a lot of growth for Apple, and so it’s creating a way to make it easier for consumers in these markets to pay..."
  • MasterCard, Visa Named Top Global Innovators - Wall St. Journal - "Six financial services firms are ranked among Boston Consulting Group’s annual list of top 50 global innovators. This is after two years of drought when no financial companies made the cut."
  • Machine Learning and Big Data Know It Wasn’t You Who Just Swiped Your Credit Card - Scientific Computing - "Fraud detection is an arms race between good guys and bad guys. At the moment, the good guys seem to be gaining ground, with emerging innovations in IT technologies, such as chip and pin technologies, combined with encryption capabilities, machine learning, big data and, of course, cloud computing."
  • Our thoughts on Ethereum - Medium (KPCB Edge) - "We think Ethereum as a software platform significantly adds to the potential ways blockchain technology could be used in an application’s technology stack."
  • Q: What Might Drive Bitcoin Mass Adoption? - Medium - "As was the case on the early internet, the early pioneers mainly consist of the speculators, developers and scientists who see this potential, building out early infrastructure on top of the base transport layer, with the masses joining in only once the killer applications develop, not the other way around."

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 01, 2015

Headline News from PaymentsNews.com - December 1, 2015

On the Web

  • The Future of Personal Payments - Medium (Jeremy Allaire) - "Long considered a product and market backwater, given countless product efforts in the West that have largely failed to live up to the hype or potential, p2p payments is now emerging as potentially one of the most valuable pieces of consumer Internet real estate."
  • Why Apple Wants to Get Into the Unprofitable World of Payments Between Friends - Bloomberg - "Apple isn’t likely to find a way to profit directly from the feature. Instead, the company will probably use it to increase adoption of Apple Pay in stores."
  • Touch ID Is The Gift That Keeps On Giving - ReadWrite - "While some think Apple Pay requires you to open the Apple Wallet (formerly Passbook), find the card, hold it in front of the register, and then authenticate using Touch ID, you don't. All you actually have to do is hold the phone near the register with your finger on the Touch ID "home" button. That's it."
  • JCPenney testing store card support for Apple Pay, full rollout due in spring 2016 - MacRumors - "Thus far, Kohl's is the only major retailer that currently allows its store cards to be added to Apple Pay, but both Kohl's and JCPenney have been touted as the two major partners for the feature."

On the Wires

  • CO-OP Financial Services to Offer Visa Checkout for Easy, Secure Online Shopping - "“Visa Checkout is a simpler, more secure way for credit union members to pay online almost anywhere in the world,” said Stan Hollen, President/CEO of CO-OP. “Visa Checkout is another advanced digital product that underscores CO-OP’s commitment to helping our credit union clients keep their branded credit cards top of wallet, regardless of what payment services the member may choose.”
  • CO-OP Financial Services Offers MasterPass by MasterCard - “CO-OP is committed to partnering with credit unions to help them deploy a digital e-commerce solution that fits the needs of their members,” said Stan Hollen, President/CEO of CO-OP. “MasterPass is an important piece of a comprehensive digital e-commerce strategy, and complements digital wallets such as Apple Pay, Android Pay, Samsung Pay and others.”
  • BBC Worldwide Selects Vindicia to Manage Payments for BBC Store - Gene Hoffman, chief executive officer and chairman at Vindicia, said: “Vindicia’s CashBox solution enables audiences to buy BBC content quickly and easily using cash available in their e-wallet, or via other means, such as PayPal or store-bought gift cards.”
  • American Express Serve® Expands Largest Free Cash Reload Network1 in U.S. - “We are thrilled to add Dollar General and Rite Aid to our Free Cash Reload network, giving Account holders even more places to add cash at convenient locations in their communities,” said Stefan Happ, Chief Commercial Officer, Enterprise Growth, American Express.

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 30, 2015

Headline News from PaymentsNews.com - November 30, 2015

On the Web

  • China's Mobile Payments War Is Going Global - AdvertisingAge - "For brands catering to Chinese consumers, whether at home or overseas, Alipay and WeChat payment are the two main mobile payment players to watch and understand; their intense competition is driving innovation and new consumer habits."
  • Trouble in the Checkout Line: Which Way to Pay? - Wall St. Journal - "The choice at checkout used to be simple: Cash or credit? Now consumers confront a dizzying array of payment possibilities: PIN or signature? Dip or swipe? Wave or tap? You really want to pay with your watch?"
  • Four E-Commerce Lessons From Black Friday Weekend 2015 - Re/code.net - "According to multiple studies, ecommerce sales on Thanksgiving this year grew more than on Black Friday."
  • Watch Out, Visa and MasterCard; Here Comes Blockchain - Barron's - "The virtual currency had a surge of popularity before a panic led to extreme skepticism about such fantasy money. But blockchain technology is a sound idea that’s separate from Bitcoin, and it could end up having a far greater impact than the currency."
  • With IPO out of the way, payments disrupter Square plots Aussie growth - Financial Review - "Square's Australian country manager, Ben Pfisterer told The Australian Financial Review the company was about to embark on a local hiring spree, which would focus on marketing and business development, while it figured out plans to roll out some of its more well-known products."
  • Apple's Failed Retail Revolution: Beacons Still Won't Be Big on Black Friday - Bloomberg - "A survey conducted by Forrester earlier this year found that only 3 percent of retailers use beacons; just 16 percent had plans to try the technology in the foreseeable future."

On the Wires

  • Swatch Partners With Visa for Pay-By-The-Wrist Contactless Payments - "Swatch SA and Visa Inc. together with Visa Europe have signed an agreement giving eligible Visa cardholders in the U.S., Switzerland and Brazil the ability to tap and pay with Swatch’s new "pay-by-the-wrist" watch."
  • BlueSnap Launches the Powered Buy Platform - “Converting a shopper to a buyer on a mobile device requires more than just having a mobile-optimized site or an app,” says Ralph Dangelmaier, CEO of BlueSnap. “We’ve spent the last year optimizing the set of capabilities that merchants need to solve their payments conversion problem — and built that into our Powered Buy Platform. Clients who’ve used it have seen their payment conversions increase dramatically – improving their sales literally overnight.”
  • Krispy Kreme® Launches Mobile Rewards Program Powered by NCR - “Our goal in developing the Krispy Kreme Rewards program was to enable guests to experience the joy that is Krispy Kreme and earn rewards for their loyalty,” said Tony Thompson, Krispy Kreme’s President and CEO. “It is critical for us to know our guests more personally and our mobile app provides the data that helps us meet the needs of today’s consumer.”

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

November 19, 2015

Headline News from PaymentsNews.com - November 19, 2015

On the Web

  • Why Square Has to Get Out of the Payments Circle - Wall St. Journal - "Square has gone public as a payments company. Its share price from here will depend on the company’s ability to reshape itself."
  • Square Shares Jump on Trading Debut - New York Times - "At the close of trading on the New York Stock Exchange, the shares were up 45 percent, at $13.07. Earlier, the stock was up as much as 64 percent."
  • For Its I.P.O., Square Scales Back Valuation by $3 Billion - New York Times - "Square — valued in a private financing last year at $6 billion — priced its initial public offering at a level that gave the payments company a valuation of $2.9 billion."
  • Getting The Deal Done - AVC (Fred Wilson) - "If you believe in your business and yourself, take the money and get back to work. A financing is not an exit. The price matters less than the cash most of the time."
  • Startup Fuels Africa’s Mobile-Payment Boom - Wall St. Journal - "Founded in 2009, MFS Africa has pioneered a mobile payment platform embraced by the continent’s biggest telecommunications operators, which count about 500 million customers combined."

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!

November 13, 2015

Headline News from PaymentsNews.com - November 13, 2015

What I'm Reading

  • This weekend your editor will be reading a book recommended by one of our readers (Joel F.): Revolutionary Summer: The Birth of American Independence by Joseph J. Ellis.
  • A distinctive portrait of the crescendo moment in American history from the Pulitzer-winning American historian, Joseph Ellis. From Amazon's review: "Reading Revolutionary Summer is like receiving a distinguished lecture from a man who has dedicated many fruitful decades to breathing life into our understanding of history—he makes Washington, Adams, Jefferson, and others of the era come alive for the reader."
  • How about you? What are you reading? Drop me a quick note and tell me about it: editor@paymentsnews.com

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!

November 11, 2015

Headline News from PaymentsNews.com - November 11, 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!

November 10, 2015

Headline News from PaymentsNews.com - November 10, 2015

On the Web

On the Wires

  • £250,000 Faster Payments Open for Business - "Banks and building societies can enable their customers to send Faster Payments of up to £250,000 per payment from today (Tuesday 10 November 2015), following an increase to the scheme limit announced by Faster Payments Scheme Limited (FPSL)."
  • U.S. Bank Launches First Mobile Payment App for General Aviation - "Private and business aviation pilots can now pay for fueling and services directly from their phones with a new app from U.S. Bank Multi Service Aviation. MSA Pay, which went live this week, is the first mobile payment app in the general aviation space, designed specifically for the ordering, payment and back office needs of pilots."
  • U.S. News & World Report Releases the Best Credit Cards Rankings - "U.S. News & World Report, a nationally recognized publisher of consumer advice and information, has released a Best Credit Cards web portal to help the estimated 167 million American adults who have a credit card make smarter decisions about which ones to include in their wallet."

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

November 09, 2015

Headline News from PaymentsNews.com - November 9, 2015

On the Web

On the Wires

  • PAX Appointed Leading Payment Vendor at Russia's Sberbank - "PAX Technology, a global leader in the provision of secure electronic payment terminal solutions, has become the major payment terminal supplier to Sberbank, the largest bank in Russia."
  • ShopWithMe Introduces the World's First Smart, Interactive Retail Store - "Jonathan Jenkins, Founder and CEO of WithMe, created a "smart store" to bring the best of both offline and online shopping together under one roof, while creating personalized experiences for every shopper. The store itself is completely mobile, and designed to be mass-produced so they can be deployed across the US or shipped anywhere around the world."

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!

October 30, 2015

Headline News from PaymentsNews.com - October 30, 2015

What I'm Reading

  • This weekend your editor will be reading If You Really Want to Change the World: A Guide to Creating, Building, and Sustaining Breakthrough Ventures by Henry Kressel and Norman Winarsky. From the book's description: "Drawing on the authors’ experiences as well as those of their partners from around the world, Kressel and Winarsky share the stories of their triumphs and misses, demonstrate their method in action, and inspire their readers in the process. There are more opportunities now than ever before to build breakthrough companies that touch millions of lives. If this is your goal, let this book be your guide to creating world-changing ventures."
  • How about you? What are you reading? Drop me a quick note and tell me about it: editor@paymentsnews.com

On the Web

  • Visa Nears $22 Billion Deal to Buy European Counterpart - "The Foster City, Calif.-based payments network is in advanced negotiations to buy its European counterpart—Visa Europe—for about $22 billion in a deal that would unite Visa’s global operations under one roof, according to people familiar with the matter."
  • Heartland CEO: Blockchain Could Power Trillions in Bank Transactions - "It seems to me that the play is for banks [to use blockchain] to settle between themselves. There’s trillions in very high-end transactions going back and forth across borders between businesses," he said, adding without any real vigor: "That might be the breakthrough."
  • Fidelity Launches Fidelity App for Apple TV - "Starting today, the Fidelity App for Apple TV® is available on the all-new Apple TV, giving investors a new, convenient way to keep tabs on the markets and generate investing ideas. Fidelity is one of the first brokerage firms to offer an app for Apple TV, which owners of the new Apple TV can download on the App Store for Apple TV. Users can navigate the Apple TV app with its Siri Remote to display a variety of market data."

On the Wires

  • MCX CEO Brian Mooney Discusses New Partnership with Chase to Enhance CurrentC™ for Consumers - "Discussing MCX’s progress in bringing CurrentC™ to market, including its ongoing public beta, Mooney noted that the company continues to gather valuable insights from Columbus consumers, who can use the platform at more than 200 participating retail locations, including local CVS/pharmacy, Exxon, Giant Eagle and Giant Eagle Market District, Kmart, Mobil, Sam’s Club, Sears, Target, Walmart and Wendy’s locations. The beta will soon expand to include select local Shell fuel stations."
  • Heartland Acquires Digital Dining - "Headquartered in Springfield, Virginia, Digital Dining offers restaurants the convenience of a handheld POS on an iPad, iPhone, iPod and iPad Mini in a hybrid environment with conventional fixed terminals. Digital Dining is also used by restaurateurs for table management, delivery, reservations, labor scheduling, inventory and loyalty programs."
  • UnionPay International Launches mPOS Service in Pakistan - "This is an important progress of UnionPay International aiming at promoting innovative payment solutions in markets where the payment industry is still at an early stage of development. The Mobile POS solution, characterized with lost cost and high security features, will enable more small and medium businesses in Pakistan to accept UnionPay cards, and will expand use scenarios of UnionPay cards by local residents and business travelers to Pakistan."

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!

October 28, 2015

Headline News from PaymentsNews.com - October 28, 2015

On the Web

  • MasterCard, CIBC and New York Life Join DCG Funding Round - CoinDesk - "Payments giant MasterCard has been named as one of 11 investors in Digital Currency Group's (DCG) new funding round."
  • Razorpay on a mission to simplify online payments in India - Entrepreneur India - “We are building the next generation payments infrastructure which will accelerate the future e-commerce growth in India. Our patented technology will greatly help in achieving higher transaction success rates and faster checkout time especially on mobile devices while making payment gateway integration as easy as embedding a few lines of code."
  • JPMorgan Chase Is Crushing It in Payments - Motley Fool - "The payments industry is changing rapidly, and, at least for now, it appears JPMorgan has a huge leg up on the competition."

On the Wires

  • PayPal Reports Strong Third Quarter Results - “PayPal is entirely focused on digital payments and transforming money for people around the world. This clear focus and our strong value proposition allowed us to deliver strong financial results in the third quarter,” said Dan Schulman, President and CEO of PayPal. “We are operating in a time when change is sweeping through the financial services industry driven by the rise of mobile technology and the acceleration of money becoming digital. These two massive trends play directly to our strengths and we are leveraging this transformation to extend and accelerate our lead.”
  • American Express Will Bring Apple Pay to Card Members in Key Global Markets - "Apple Pay is expected to be available for Card Members in Canada and Australia this year and in Spain, Singapore and Hong Kong in 2016. With Apple Pay, Card Members in these countries will have the ability to seamlessly add their eligible consumer, small business and corporate American Express® Cards(i) and pay with iPhone or Apple Watch in stores where contactless payments and American Express are accepted."
  • Chase and P97 Enable Mobile Payments for Retail Fuel and Convenient Stores"“With the combination of P97’s PetroZone® mobile commerce platform and Chase Pay we are thrilled to deliver more payment options to consumers at the pump,” said Donald Frieden, President and CEO of P97. “We are confident this combined solution will deliver an innovative mobile payment experience for the retail fuels market customer.”
  • UberRUSH Joins First Data’s Clover® App Market to Simplify On-Demand Delivery Service for Small Businesses"With just a click business owners can set pick-ups and track deliveries directly from their Clover device. In minutes, an UberRUSH delivery partner will pick up the purchased goods from the business and deliver them directly to the customer."
  • Wells Fargo Eliminates Foreign Transaction Fees for Small Business Credit Cards, Lines of Credit - "In a move that will help reduce expenses for U.S. small businesses that are doing business internationally, Wells Fargo today announced it has removed its foreign transaction fees on all business credit card and business line of credit access card transactions made outside the U.S. effective October 1. With this change, Wells Fargo is the only major U.S. bank that today does not charge a foreign transaction fee on all of its small business credit cards."
  • Synchronoss Forms New Venture to Develop Advanced Secure Mobility Solutions Leveraging Technology Contributed by Goldman Sachs - “While some companies have addressed the security of mobile devices at a basic data-loss-prevention level, the biggest challenge facing enterprises is enabling individuals to have a more productive mobile experience at a lower level of risk,” said Dave Schuette, Executive Vice President and President of Synchronoss’ newly created Enterprise Business Unit. “Synchronoss, building off of the technology developed by Goldman Sachs, is extending deeper into the enterprise to bridge this gap and solve the inherent complexity of mobile security by providing a comprehensive mobile framework.”

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!

October 27, 2015

Headline News from PaymentsNews.com - October 27, 2015

On the Web

On the Wires

  • MasterCard and Cardlytics Partner to Deliver an Integrated Card-Linked Loyalty Program for Banks of All Sizes - "MasterCard and Cardlytics today announced an agreement to deliver targeted card-linked services to US banks of all sizes. The new partnership will match Cardlytics card-linked marketing solutions and advertising expertise with MasterCard’s bank partners and its offers and rewards platform to deliver a solution that is unsurpassed in the loyalty business."
  • FIS and The Clearing House Team to Execute a Ubiquitous Real-Time Payment System for the U.S. - "As a global leader in the payments industry, we are proud to join this critical initiative to deliver a game changing real-time payments ecosystem to the U.S. marketplace,” said Nancy Langer, chief product officer, FIS. “We have long invested in delivering real-time money movement capabilities to our clients and view this partnership as an extension of our strategy to disrupt the status quo and empower our clients through new payment paradigms.”
  • Affirm Announces Omnichannel Installment Payment Products for Telesales and Physical Stores - “Our new telesales and in-store payment products help strengthen Affirm’s omnichannel presence,” said Levchin. “Installments are much more than just a way to defer payment temporarily. We now have sufficient data that shows they help merchants boost sales and help consumers, who may not have credit cards or choose not to use them, pay for their online and in-store purchases in a way that best matches their monthly budgets.”
  • Marqeta Adds Leading FinTech and Commerce Brands to Its Payment Innovation Platform; Closes $25 Million Series C Round - "Today, at Money20/20 2015, Marqeta, the Open API issuer processor platform, announced a host of new marquee customers, including Affirm, DoorDash, HyperWallet and Kabbage, alongside known customers such as Facebook, Bento for Business and Perk. Marqeta also confirmed closing a $25 million Series C round."
  • InAuth Launches Game-Changing Device Reputation Network, InExchange - “This is a definite game-changer in the industry”, said InAuth CEO, Lisa Stanton. “Our ability to utilize device identification technology to create a network that enables protection from even the first instance of fraud is unique to only InAuth. Participating in InExchange is a win-win for both consumers and businesses. Consumers want to be able to do more with their mobile without any unnecessary friction, and businesses want to protect their brand and bottom line from fraud losses.”
  • Samsung Pay Advantage Significantly Expands Mobile Payment Merchant Acceptance and Drives Consumer Adoption - "After one month, the numbers say it all: Consumers who have used Samsung Pay are using it repeatedly because it works almost anywhere you can swipe or tap a card," said Thomas Ko, global co-general manager of Samsung Pay. “We’re thrilled to introduce new partners that will build on our early success, and move us even closer to a world in which your mobile phone is a true mobile wallet."
  • Blackhawk Network Announces Partnership to Integrate Gift Cards Into Samsung Pay - "We are thrilled to complement Samsung Pay's groundbreaking mobile payment technology with the upcoming integration of gift cards into the application," said Talbott Roche, president of Blackhawk Network. "Consumers often have several gift cards at any given time, and the ability to integrate them into a single mobile payment solution, coupled with Samsung Pay's unique MST technology allowing for convenient redemption, is expected to provide a value add to Samsung Pay users."
  • BlockCypher Assets API Enables Any Asset on the Blockchain in Only One Step - "With one simple API call, an organization can now issue any asset as custom digital tokens (colored coins) and transfer them securely using the blockchain. “Colored coins” is a term that describes a class of methods for representing and managing real-world assets on the blockchain."
  • FIS Helps Accelerate Acceptance of Mobile Payments at the Pump - "FIS today announced a technology agreement with SAP (NYSE: SAP), in which FIS will integrate the FIS Mobile Payment Enablement Gateway solution with SAP® Vehicles Network running on SAP HANA® Cloud Platform."
  • New GSMA Report Sees North America Leading Global Adoption of New Mobile Technologies - “The North American mobile industry has been the strongest performing of any developed region globally for some time, characterised by substantial subscriber growth, the early adoption of new technologies, high levels of mobile usage and strong revenue trends,” said Michael O’Hara, Chief Marketing Officer, GSMA.

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!

October 26, 2015

Chase Announces ChasePay - with MCX as Premier Merchant Partner

Chase logo 140pxChase has announced Chase Pay – calling it "a better payments experience for in-store, in-app and online purchases."

MCX – which includes retailers such as Walmart, Target, Best Buy and Shell – was announced as Chase Pay’s premier partner. Chase Pay will be progressively rolled out at these merchants who are accepting CurrentC starting in mid-2016. Chase customers will be able to use Chase Pay wherever CurrentC is accepted – either directly, or through the CurrentC app. Chase is also partnering with 17 technology vendors so that merchants who are not Chase Commerce Solutions clients can also participate in Chase Pay.

Chase Pay solves a number of pain points for consumers and merchants. It will improve the customer experience and drive down the cost of payments,” said Gordon Smith, CEO of Consumer & Community Banking at JPMorgan Chase & Co.

Chase said that Chase Pay addresses some of merchants’ biggest challenges – including the cost of payment, merchant fraud liability and speed of checkout. Chase Pay the same technology used to scan gift cards and will be able to connect a merchant’s loyalty program directly into the payment experience. Chase also says that it can work directly with merchants to drive down the cost of accepting payments through fixed pricing with no additional fees.

Chase Pay will be available in mid-2016 to Chase’s customers across its 94 million credit, debit and pre-paid card accounts.

Headline News from PaymentsNews.com - October 26, 2015

On the Web

On the Wires

  • Visa Brings Token Security to eCommerce - "Visa today announced that it has integrated token technology into Visa Checkout, the company’s online check out service used by merchants and consumers globally to make safe, easy payments in just a few clicks."
  • U.S. Banks Unite to Form Industry Leading Secure Real-Time Payments Network - In a joint prepared statement, the CEOs of Bank of America, BB&T, Capital One, JPMorgan Chase, U.S. Bank, and Wells Fargo said, “Our customers want the ability to make payments to anyone, in real-time, making funds instantly available in the recipient’s bank account. To achieve this, we are combining our collective, bank-owned digital payments network (clearXchange) with our fraud, risk and authentication assets (Early Warning), to further ensure that our customers can send money, confidently, securely, and in real-time via their financial institutions.”
  • The Clearing House Drives Closer to Standing-Up New Innovative National Real-Time Payment System - "The Clearing House (TCH) announced it has entered into a letter of intent with VocaLink, the UK-based international payment systems provider, to help build and deliver core elements of TCH’s new real-time payment system for the United States."
  • MasterCard Launches New Program That Can Turn Any Consumer Gadget, Accessory or Wearable into a Payment Device - “As more and more ‘things’ become connected, consumers will have endless possibilities when it comes to how they pay, and will need all of their devices to work seamlessly together,” said Ed McLaughlin, Chief Emerging Payments Officer at MasterCard. “This program eliminates the boundaries of how we pay by delivering a secure digital payment experience to virtually anything – rings, fitness and smart bands, car key fobs, apparel, and whatever comes along next.”
  • Western Union Introduces WU Connect Platform, Expanding Cross-Border Money Transfer via Mobile and Social Media - David Thompson, EVP, Global Operations and Technology and CTO, Western Union, expressed excitement about the potential impact of this new offering saying, "This puts Western Union in a position to extend its digital platform to networks whose users are looking for more convenient ways to send and receive money globally on a platform of their choice."
  • Sequent Launches Token Service Platform Supporting all Card Types and Networks - "Compatible with all major credit and debit card networks, Sequent Token Service Platform allows banks to deploy a single solution to support their entire credit and debit card portfolio plus profitable private label and prepaid cards."
  • E*TRADE Resets Mobile Bar with Apple Pay - "E*TRADE Financial Corporation today announced the release of Apple Pay functionality for E*TRADE debit card holders."
  • Scotiabank First Canadian Bank to Launch Bulk Interac e-Transfer® Service - "Scotiabank is pleased to be the first Canadian Bank to offer this innovative new service to meet the needs of our business banking customers," said Rania Llewellyn, Senior Vice President, Cash Management and Payment Services at Scotiabank. "We are always looking for new ways to make everyday business transactions fast, easy and secure for our customers, and with the Bulk Interac e-Transfer service, our business banking customers have more choices to send electronic payments efficiently."
  • TSYS and Ingenico Group to Offer New Semi-Integrated EMV Solution - "Using a semi-integrated approach, communications between the PIN pad and point-of-sale (POS) system are limited to non-sensitive exchanges, preventing card data from entering the POS. By taking the POS out of the payment flow process, not only are EMV certification and PCI compliance simplified, but overall costs and time required for EMV implementation are reduced as well."
  • Mozido Expands Digital Payments Offering: Launches U.S. - China Cross-Border Payment Gateway - "The Mozido PayEase Payment Gateway service enables Chinese consumers to securely pay with their local bank accounts and credit cards with reliable settlement of the funds to the U.S. merchant’s bank account. As the first and most trusted cross-border payment gateway in China, Mozido PayEase breaks down barriers by allowing Chinese citizens to pay in their local currency while allowing the merchant to be paid in their home currency through a seamless transaction."
  • Dream Payments Launches Canada's First Off-The-Shelf EMV Payment Terminal That Accepts Interac Debit Card Payments - "The Dream solution consists of an MPOS application for iOS® and Android™ based smartphones and a Bluetooth® enabled EMV Debit and Credit Card Reader. The Dream card reader is available through TELUS at an introductory price of $99.99. Payment processing fees are low cost; $0.25 for Interac Debit card transactions and 2.75% for Visa® and MasterCard® credit card transactions."
  • Penny Inc Launches at Money20/20 with Prepaid MasterCard® Card and Integrated Mobile App Solution
  • - "Penny Inc, which provides payments and expense and travel management solutions for small to medium-sized businesses, today announced the launch of the Penny Inc prepaid MasterCard® card program (“Penny”) virtually connected to a mobile app."
  • INTECH to Provide Prairie Cloudware Platform to Credit Union Clients - "INTECH will white label the Prairie Cloudware technology allowing credit unions to offer members a mobile wallet that carries the institution’s brand. The initial deployment of the Digital Payments Guardian for INTECH will offer an Android mobile wallet with a Visa card. The solution can be extended to include additional payment cards and sources as well."

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!

October 21, 2015

Headline News from PaymentsNews.com - October 21, 2015

On the Web

On the Wires

  • Visa Launches New Platform to Help Card Issuers Market and Grow Their Business - "Visa Inc. today announced the launch of Visa Integrated Marketing Solutions (VIMS), a card marketing platform designed to help small to medium-sized issuers optimize their marketing efforts. The VIMS platform enables the development and execution of key marketing services across the customer lifecycle – from acquiring new customers to cardholder retention."
  • W3C Starts Web Payments Standards Work to Streamline the Online "Check-Out" Process - "The industry has looked to digital wallets as a way to improve security and usability, as well as to support marketing initiatives. And yet, users have not yet wholeheartedly embraced them," said W3C CEO Dr. Jeff Jaffe. "We believe that one reason for this is that the digital wallet market is fragmented and providers use incompatible programming interfaces."
  • Diebold Software Innovation Slashes Fraud Exposure Through Secure Onboarding To Digital Payments - "SimplyTapp believes extending consumer relationships through mobile devices is critical to the future of banking," said Doug Yeager, SimplyTapp chief executive officer and co-founder. "Together with Diebold's secure self-service technology and our leading Cloud Token Solution, the need for highly secure authentication and card onboarding can now be fully realized at the convenience and familiarity of a bank's ATM."
  • Synchrony Financial Launches CarCareONE Mobile App to Deliver Account Servicing, Store Locator Functionality, and Special Offers to Millions of Cardholders’ Smartphones - “Our CarCareONE app offers a new platform for our automotive merchants to engage with their customers wherever they are,” said Glenn Marino, executive vice president & CEO of Synchrony Financial’s Payment Solutions platform. “We know that financing is an important consideration for drivers dealing with an unexpected repair or routine maintenance, and this innovative app provides CarCareONE cardholders a useful tool to manage their account, locate services for all their auto maintenance needs, and find valuable offers from our network of retailers and service shops across the country.”
  • Buy With Affirm, Pay in Monthly Installments Now Available to 3dcart eCommerce Merchants - “Installments aren't just a slick way for consumers to temporarily defer payment," said Levchin. "It’s how Affirm helps eTailers boost sales and consumers, who may not have credit cards or who choose not to use them, pay for their purchases in a way that best matches their monthly budgets."
  • Intuit and Fundbox Partner to Tackle #1 Pain Point Faced by Small Businesses: Cash Flow - Fundbox CEO Eyal Shinar added, “We are thrilled to become a more deeply embedded solution within Intuit’s QuickBooks ecosystem - we know millions of SMBs will benefit from this partnership.
  • SumUp Expands To U.S. With Launch Of EMV Card Terminal - "It's a perfect time to bring SumUp to the U.S. The shift to EMV chip cards puts more costly fraud liability on stores without chip terminals -- but only half of small businesses are even aware of EMV liability," said Daniel Klein, CEO of SumUp. "EMV is the norm around the world, and SumUp is the platform of choice for EMV transactions in 14 countries today. We are here to help U.S. merchants and partners such as cash register vendors to transition quickly and securely to EMV, by making payments as easy as possible for their customers."
  • Discover Financial Services Joins Banking Industry Architecture Network - "Discover Financial Services recently joined the Banking Industry Architecture Network, a not-for-profit industry standards association, to leverage a banking-industry-specific framework and standard messaging to speed the delivery of new products and services."

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!

October 20, 2015

Headline News from PaymentsNews.com - October 20, 2015

On the Web

  • Remote Order and Pay - Medium (Scott Loftesness) - "Way back in the early 2000’s I was a board member of Ontain — a startup focused on remote order and pay."

On the Wires

  • Chase Doubles Up on Rewards: Marriott Rewards and United MileagePlus Credit Cards from Chase Join Forces for the First Time - "Between November 1 and November 30, 2015, Marriott Rewards Premier cardholders will earn double points on purchases with United® and eligible United MileagePlus Explorer, Club and Presidential Plus cardholders will earn double miles on purchases at Marriott® properties."
  • Fifth Third Bank Launching New Mobile App for Commercial Cards - “Fifth Third’s commercial card mobile app can improve the ease in which our commercial card clients and their employees conduct business, allowing them to focus more effort and time on driving results to their bottom line.”
  • Early Warning Introduces the Authentify Platform - “The Authentify Platform addresses the multi-dimensional challenge of payments’ risk. It brings together multiple modes of authentication – all sitting on top of a bank consortium model that is powered by shared intelligence – to simplify risk-managed authentication while strengthening accuracy and speed to optimize the consumer experience."
  • NAFCU: EMV Chip-Card Transition Is Not Silver Bullet, Cybersecurity and Consumer Protection Require Multi-Tiered Approach - "Specifically, NAFCU supports Sens. Tom Carper, D-Del., and Roy Blunt, R-Mo., bipartisan measure, S. 961, the “Data Security Act of 2015,” and the companion House bill introduced by Rep. Randy Neugebauer, R-Texas, and Rep. John Carney, D-Del., H.R. 2205, which would set a national data security standard for retailers akin to GLBA while acknowledging financial institutions’ existing adherence to GLBA standards."
  • CyberSource Brings Real-Time Fraud Analytics to Merchants - “Merchants create rules and parameters in their fraud management systems that determine whether a transaction is accepted or denied, based on risk levels,” said Andre Machicao, senior vice president, CyberSource, a Visa Inc. company. “In some cases, the parameters they set might be overly cautious, causing them to lose legitimate, safe business unnecessarily. CyberSource’s new capability allows merchants to back test prior transactions to see what would have happened if they had set different rules.”
  • Seamless Distribution AB: New SEQR Service: International Remittance and Payments – Offering Money Transfers between Countries Free of Charge - “Demand for international transfers is constantly growing as people’s lives become increasingly global. But established payment agencies charge high fees, making money transfers expensive. SEQR can offer a highly competitive and simple alternative - something we’re convinced many people will appreciate,” says Peter Fredell, CEO of Seamless. “This service is an important part of our international expansion.”
  • Discover Financial Services Joins Banking Industry Architecture Network - "Discover Financial Services recently joined the Banking Industry Architecture Network, a not-for-profit industry standards association, to leverage a banking-industry-specific framework and standard messaging to speed the delivery of new products and services."

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!

October 19, 2015

Headline News from PaymentsNews.com - October 19, 2015

On the Web

  • Yahoo Executive Reses Said to Leave Company to Join Square - Bloomberg - "Jacqueline Reses is departing Yahoo! Inc., where she had been chief development officer, to join Dorsey’s Square Inc...."
  • For First Data, the way to investors' hearts is through their stomachs - Fortune - "First Data’s big new pitch to investors is that it can arm small businesses with the same sophisticated apps, and Big Data analytics, that until now exclusively benefited the likes of Target or Dunkin’ Donuts."
  • What 2016 Holds for Bitcoin Businesses - CoinDesk - "The hard reality is, there just isn’t currently enough volume to support all the exchanges, payment gateways and wallet providers that have sprung up, let alone the number of secondary service providers, such as bitcoin compliance solutions, that have been created to support the first wave of service providers."

On the Wires

  • Square Hires Jacqueline Reses, Yahoo Executive and Financial Services Veteran, to Lead Square Capital - “Jackie’s understanding of the financial services industry and her background in tech and investing make her the perfect fit to lead Square Capital, and I’m thrilled she is joining our leadership team,” said Jack Dorsey, CEO of Square.
  • MasterCard to Tokenize MasterPass for Online and In-App Shopping - "At the request of Issuers enabling MasterPass for their customers, MasterCard will replace the personal account numbers (PAN) for consumer credit, debit, commercial and prepaid cards stored in MasterPass with a secure “token” – a new 16-digit number that represents the existing PAN on the front of a payment card. Tokens are unique to each bank-connected MasterPass wallet and carry EMV-based security protection that provides additional peace of mind for consumers and merchants alike."
  • MCX Adds BIM’s Guaranteed ACH Payments to CurrentC™ App - “We are hearing directly from consumers about the importance of having choices when it comes to payment within the app. With BIM’s technology and the ability to pay via a checking account, consumers will soon have several options for paying for goods and services using CurrentC™” said Brian Mooney, MCX CEO. “While consumers want options, they also want security. We chose BIM’s technology for its seamless integration with CurrentC™, security features, and fraud prevention capabilities.”
  • WEX Inc. Announces Definitive Agreement to Acquire Electronic Funds Source LLC - “We are very excited about the prospect of combining these two great companies, which have a strong customer orientation, aligned strategy and a complementary footprint,” said Melissa Smith, WEX’s president and chief executive officer. “We believe this acquisition strengthens our value proposition to customers with a portfolio of best-in-class offerings that will better meet their evolving needs."
  • U.S. Bank Launches VantagePoint; New Centralized Receivables Management Platform - “U.S. Bank is committed to continued investment in receivables capabilities and technology to improve our client experience,” said Rich Erario, head of U.S. Bank Global Treasury Management. “The bank conducts in-depth process reviews with businesses and hosts focus groups on a regular basis to fully understand their most pressing business challenges. VantagePoint is a direct result of those conversations. By streamlining the receivables management process and improving data reporting, VantagePoint makes it easier for our clients to make informed business decisions.”
  • Citi Launches Paperless Processing and a Fully Digital Experience of Electronic Bank Account Management (eBAM) in North America - “This is an important milestone in Citi’s digital journey. With these enhancements, our clients will realize greater efficiencies and benefit from a more streamlined onboarding process,” said Michael Fossaceca, North America Region Head, Citi Treasury and Trade Solutions.
  • Citi Expands Citi Payment Exchange into Canada, Building on U.S. Success - “We are committed to innovate, constantly finding new ways to support our clients in their end-to-end process and make their payment management simpler and more efficient. The unique opportunity with Citi Payment Exchange is that it allows organizations to leverage the power of the next generation of corporate payments, such as virtual cards,” added Stephanie Zee, Director and Cash Product Head, Citi Treasury and Trade Solutions, Canada.
  • Synchrony Financial to File Registration Statement in Connection With GE Exchange Offer - “We have been preparing to separate from GE since plans were announced two years ago,” stated Margaret Keane, president and CEO of Synchrony Financial. “We have built the infrastructure and the teams needed for separation and are excited about our future as a standalone business."

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!

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