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January 03, 2017

Headline News from PaymentsNews.com - January 3, 2017

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

Here's to the New Year! Everyone at Glenbrook wishes you success, fulfillment, and great health for 2017.

ON THE WEB

  • Swiss Are Frank About Their Love of Cash - Wall Street Journal - "The Swiss love cash, and use it regularly to pay for purchases large and small—monthly utility bills can be paid in cash at post offices. Their affinity shows no sign of abating, and flies in the face of a global trend toward cashless economies and electronic payments that can better track potential fraud."
  • Paytm, India’s top mobile payments firm, gets approval to launch its own digital bank - TechCrunch - "The development of Paytm Payments Bank mirrors Alibaba and Ant Financial’s own course in China, where it is one of a number of top internet companies to expand into banking and financial services."
  • Bitcoin jumps above $1,000 for first time in three years - Reuters - "Digital currency bitcoin kicked off the new year by jumping above $1,000 for the first time in three years late on Sunday, having outperformed all central-bank-issued currencies with a 125 percent climb in 2016."
  • Walmart is 2016 mobile retailer of the year - Mobile Commerce Daily - "Another major step that helped propel Walmart in the right direction was its online and mobile pay system that launched in December of 2015 but saw real growth in 2016. With mobile payments becoming increasing important in online purchasing, Walmart’s solution was a major step in the right direction."
  • Starbucks app integrates with Bitcoin wallet - Mobile Commerce Daily - "Customers using the Starbucks app can now pay through iPayYou’s Bitcoin wallet to pay for an assortment of items on its menu. iPayYou works through automated conversion processes to convert the oft-volatile cryptocurrency into USD in real time, through a tool called Bitcoin Direct to Starbucks."
  • VW Buys Mobile-Payment Provider PayByPhone for Parking Services - Bloomberg - "The purchase of Vancouver-based PayByPhone, which processed more than $250 million in transactions this year, will turn the German company’s Volkswagen Financial Services unit into the leader in mobile payments for parking, the automaker said Wednesday in a statement. The companies aren’t disclosing the cost of the acquisition."

ON THE WIRES

  • PAX Secures Major Win at China UnionPay Merchant Services - "PAX Technology (HKEx: 00327 - PAX GLOBAL), a global leader in the provision of secure electronic payment terminal solutions, is pleased that China UnionPay Merchant Services ("UMS") has selected PAX to supply secure payment devices to over 6 million merchants during 2017. As one of the largest merchant acquirers in the world, UMS will be leveraging the full PAX product portfolio. Particular emphasis is being placed by UMS on the innovative A920 Android terminal which offers high levels of application customization to meet different merchant demands of procurement, logistics, inventory and business management."

GLENBROOK PAYMENTS EDUCATION EVENTS

Glenbrook's 2016 boot camps are done but there's more to look forward to. Our next Glenbrook payments education events are in San Jose, CA, New York, NY, and Atlanta, GA. See our spring schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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 23, 2016

Headline News from PaymentsNews.com - December 23, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

Best wishes for the holidays from all of us at Glenbrook!

ON THE WEB

  • Bitcoin’s price is surging again, but there’s another measure that really shows its value - Quartz - "The value of a single bitcoin has skyrocketed this year, and hit $874 today (Dec. 22). It’s not the highest price ever for bitcoin, which traded at $1,165 in November 2013. But with the 2016 rally, the cryptocurrency has achieved a different but related milestone: The value of all bitcoin in circulation is now at an all-time high."
  • Paytm is paying a price for its sudden stardom - Quartz - "This sudden success stirred up some trouble for Paytm and its CEO. Over the past few weeks, Sharma and Paytm have come under fire for everything from insensitive advertising and technical glitches to allegations of an alleged copyright infringement and incidents of fraud and cheating."
  • China becoming global technology hub - CRI - "In China, paying via credit cards has never been mainstream. Most Chinese consumers, about 40%, prefer new mobile payments like Alipay and Wechat, shows a report released by Ernst & Young."
  • What Happens When You Roll an Online Lender, a Robo-Adviser, and Bitcoin into One? - Wall Street Journal - "An eight-person startup outside of Seattle is gunning for the fintech trifecta. Algorithmic Inc., a Bellevue, Washington-based investment adviser, is launching a new credit fund that combines three of the hottest trends in the financial-technology sector: online lending, robo advisory and the technology that underpins the digital currency bitcoin."
  • Learning from a Year of Security Breaches - Medium - "These lessons come from my consolidated notes of those incidents. I mostly work with tech companies, though not exclusively, and you’ll see a bias in these lessons as a result."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Glenbrook's 2016 boot camps are done but there's more to look forward to. Our next Glenbrook payments education events are in San Jose, CA, New York, NY, and Atlanta, GA. See our spring schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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, 2016

Headline News from PaymentsNews.com - December 22, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

Best wishes for the holidays from all of us at Glenbrook!

ON THE WEB

  • Royal Canadian Mint joins Goldmoney blockchain platform - Finextra - "Goldmoney users can now purchase any amount of 100% reserved physical gold in the Mint’s Ottawa vault using the private firm's proprietary, closed-loop blockchain technology, for a 0.50% fee and receive free storage for up to 1,000 grams. "
  • Cybersecurity: A Race Without a Finish Line - Wall Street Journal - "Peter Beshar, executive vice president and general counsel of Marsh & McLennan Companies, a global professional services firm that includes Marsh, an insurance brokerage and risk advisor, speaks about the current state of cyberthreats, what companies should be doing to protect themselves and the potential impact the Trump administration will have on cybersecurity."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Glenbrook's 2016 boot camps are done but there's more to look forward to. Our next Glenbrook payments education events are in San Jose, CA, New York, NY, and Atlanta, GA. See our spring schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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, 2016

Headline News from PaymentsNews.com - December 21, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

Best wishes for the holidays from all of us at Glenbrook!

ON THE WEB

  • Episode 45 – False Declines and Ethoca’s Role - Glenbrook’s Payments on Fire podcast - "In this Payments on Fire podcast, Glenbrook‘s George Peabody discusses the false decline issue with Ethoca’s CMO Keith Briscoe as well as the company’s program to encourage more merchants and issuers to take advantage of its shared data service."
  • PayPal Files Copyright Suit Against India's Digital Payment Provider Paytm - eMarketer - "In what many are calling a tactical move to stymie a competitor, PayPal has pushed forward on a copyright suit against Paytm, a leading digital payment service in India."
  • Hungary’s national bank to launch instant payments through mobile phone numbers - NFC World - "A proposal from Hungary’s central bank Magyar Nemzeti Bank (MNB) for the launch of an instant payments service that will allow consumers to initiate a payment using only the mobile phone number of the recipient, with transactions completed “in a matter of seconds”, has been approved by the country’s Financial Stability Board."
  • Apple Pay adds support for new Chinese banks and credit unions (Update: U.S. banks too) - 9to5Mac - "While Apple originally launched Apple Pay in China last February with a handful of partners, it’s been slowly adding support for more banks and credit unions in recent months, much the same way the company has rolled out the service gradually in other markets."
  • Mastercard, Visa work to make mobile pay safer - Mobile Commerce Daily - "Mastercard and Visa will now be trading tokenized numbers in regards to customer’s credit cards to be used in their respective mobile pay platforms. For instance, customers with Mastercard credit cards who would like to use Visa Checkout will be able to do so without the platform keeping their credit card number and vice versa."
  • Square Wants to Play With the Big Boys - Barron’s Next - "The maker of those iPad-attached card readers now has set its sights on larger merchants. That could open up sizable opportunities for Square, since its business from big merchants is now growing five to six times faster than its traditional business focused on small sellers, according to analysts at Instinet, which picked up coverage of Square on Tuesday."
  • The race to fix Nigeria’s payments problem just received a big boost - Quartz - "Over the past year however, new start-up entrants have been focusing on solving a problem regarded as a bane to the growth of the country’s tech ecosystem. One of those entrants, Paystack, founded by Shola Akinlade and Ezra Olubi, has gained traction and rave reviews. Acting as an “intelligent bridge” between merchants and payments processors, Paystack connects to multiple payment processors and provides more options for merchants and customers."
  • Wari and Mastercard Dedicated to Fighting Cash in 35 African markets - Payments Afrika - "Wari and Mastercard signed a Strategic Alliance Agreement that will help strengthen the Wari offering for its users but also the digital payment ecosystem in 35 African markets. The two technology companies reinforced their focus on providing all citizens with access to secure and easy to use financial solutions, removing the need for cash and delivering more efficient ways for people to pay for goods and services. In support of this commitment, a suite of digital payment solutions will be introduced across the existing Wari network."
  • Pew: Most Large Banks Fail to Meet Overdraft Best Practices - Pew Charitable Trust - "Most of the largest U.S. banks continue to charge high, and often multiple, fees each time a customer incurs an overdraft. Additionally, more than 2 in 5 banks rearrange transactions in a manner that maximizes overdraft fees. Further, overdraft programs at a selection of small banks throughout the country are comparable in many respects to those at the large banks, with a few notable differences. "
  • BNP Paribas applies blockchain technology to corporate payments - Finextra - "Jacques Levet, head of transaction banking Emea at BNP Paribas CIB, comments: "This proof-of-concept demonstrates that blockchain technology offers real opportunities to considerably improve our offer for corporate treasury managers. On the payments front, this confirms our strong commitment to follow closely and further accelerate our participation in a number of market initiatives aiming at improving the corporate payments experience using blockchain technology.”"
  • The Human Cost of Next Day Delivery - Business of Fashion - "“It’s a business model that JD Sports and Sports Direct and Amazon and ASOS have bought into … The vagaries of online retail and fashion are such that it will have peaks and troughs in demand and the way they’re going to deal with that is to have a very, very flexible work force and pay them the lowest rate they can,” says Neil Derrick, Yorkshire regional secretary at GMB (Britain’s General Union), which is supporting some of ASOS’s warehouse workers."

ON THE WIRES

  • Arvato Financial Solutions signs agreement with NuData to combat fraud - "In order to provide a one-stop fraud prevention suite, Arvato Financial Solutions has chosen NuData’solution which integrates behavioural analytics and passive biometrics with a common platform. Arvato also seeks to provide a frictonless experience for legitimate customers while protecting against abuse."
  • InComm to Launch PlayStation™Network Prepaid Products into Indonesia 7-Eleven Stores - "InComm, a leading prepaid product and transaction services company, announced today that, together with MOL Global, Inc., the two companies are launching PlayStation™Network prepaid products to be distributed through 7-Eleven stores in Indonesia. MOL Global is a leading e-payment enabler for online goods and services in emerging and developed markets."

GLENBROOK PAYMENTS EDUCATION EVENTS

Glenbrook's 2016 boot camps are done but there's more to look forward to. Our next Glenbrook payments education events are in San Jose, CA, New York, NY, and Atlanta, GA. See our spring schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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 20, 2016

Headline News from PaymentsNews.com - December 20, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Episode 44 – On Privacy, IoT, and Security – Online Trust Alliance - Glenbrook’s Payments on Fire podcast - "Multiple organizations have emerged to address different aspects of security, privacy, and identity. In this Payments on Fire Podcast, Glenbrook‘s George Peabody speaks with Craig Spiezle, Executive Director of the Online Trust Alliance, an organization bringing together privacy and security best practices for a range of industries, including payments. Take a listen to this conversation about the security challenges ahead, especially around the Internet of Things."
  • Lloyds Buys Bank of America’s Credit Card Unit MBNA for $2.4 Billion - Wall Street Journal - "Lloyds Banking Group PLC said Tuesday it is buying Bank of America Corp.’s U.K. credit-card business MBNA Ltd., for £1.9 billion ($2.35 billion), the British bank’s first major acquisition since its bailout during the financial crisis."
  • Brazil to Crack Down on 476% Annual Credit Card Rates, Again - Bloomberg - "Last week, Temer unveiled a package of microeconomic measures aimed at stimulating growth. Among them, a proposal to reduce exorbitant credit card fees. The central bank is expected to discuss the issue at a Tuesday press conference. Congress’s finance and taxation committee is also debating measures to limit the amount of interest charged by credit card operators in Brazil, with one deputy proposing a ceiling of 12 percent per year."
  • Walmart leverages its MoneyCard app to help customers save - Mobile Commerce Daily - "Retail giant Walmart is partnering with Green Dot to debut a new prize-based savings incentive program run through the former’s MoneyCard service."
  • New York City brings smartphone payments to metered parking - TechCrunch - "Starting this week, metered parking spots in midtown Manhattan are going mobile with a new system that lets drivers pay via smartphone. The new ParkNYC app is tied to a car’s license plate number, working along the lines of an EZPass."

ON THE WIRES

  • NCR Software Platform Strategy Resonating in Marketplace - "According to IDC, NCR continues to be a leader in the retail point-of-sale (POS) technology market, and with Retail ONE, the company has introduced a platform for commerce that can be the commerce hub for sales, payments, fulfillment, and marketing. NCR is uniquely positioned to serve a long list of retail segments, including food, drug and mass merchandise, department and specialty retail, and petroleum and convenience retail."

GLENBROOK PAYMENTS EDUCATION EVENTS

Glenbrook's 2016 boot camps are done but there's more to look forward to. Our next Glenbrook payments education events are in San Jose, CA, New York, NY, and Atlanta, GA. See our spring schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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 19, 2016

Headline News from PaymentsNews.com - December 19, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Making Blockchain Real for Enterprises: The Importance of Tokenization - Coindesk - "The result is a situation in which banking systems are buried in firewalls, with amazingly cumbersome operational procedures required to make any changes, and with ledger technologies designed for security and scalability at the expense of development agility and innovation. And, you know what, I am happy they are this way, since it is our money that we are talking about here. But the beauty of distributed ledgers is that, suddenly, they give us a way to transact safely outside of these (very expensive) super-secure but cumbersome core banking systems, and this is not only because of the use of cryptography, but because of their distributed nature."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Glenbrook's 2016 boot camps are done but there's more to look forward to. Our next Glenbrook payments education events are in San Jose, CA, New York, NY, and Atlanta, GA. See our spring schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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, 2016

Headline News from PaymentsNews.com - December 16, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • The ITU Digital Financial Services Focus Group Wraps Up - Glenbrook’s Payments Views - "Glenbrook’s Carol Coye Benson and Allen Weinberg were active members of the group: Carol ran the “Ecosystem Working Group” and Allen led a group of people on in-depth research and exploration of topics relating to merchant acceptance of payments in emerging economies. Glenbrook partner Elizabeth McQuerry was at the closing session, participating on a panel discussion of “New Frontiers in Regulation.”"
  • The OCC’s Proposed Fintech Charter: If It Walks Like a Bank and Quacks Like a Bank, It’s a Bank - Paul Hastings blog - "The OCC recognizes that the demographics of the financial marketplace also are changing with 85 million millennials becoming consumers of financial services—a demographic that has come of age using and relying on technology. As the Whitepaper notes, these market forces have resulted in technology-driven nonbank companies seeking new ways to deliver financial products and services. While frequently viewed as competition to traditional banks, given the challenges of bank regulation, technology companies frequently consider whether to become banks themselves. The Fintech Bank Charter may be a vehicle to do so. "
  • Introducing the new Google Wallet experience on the web - Google blog - "We're excited to introduce the new Google Wallet web experience (wallet.google.com) just in time for the holidays. Available across all browsers, the updated Wallet website has a brand new look and added features, which will make planning that New Year's trip with friends a breeze."
  • London fintech startup Curve brings mobile wallet and all-your-cards-in-one app to Android - TechCrunch - "The mobile wallet lets you sync your debit and credit cards into a single app and to the accompanying Curve card powered by MasterCard. You then simply select which card you want the Curve card to act as a conduit for any payments you make offline or online, meaning you only need to carry a single physical card with you."
  • GoDaddy adds Apple Pay support for its customers’ mobile sites - Mobile Commerce Daily - "GoDaddy is bringing Apple Pay to its Online Store platform, letting Web site owners who use its platform to accept mobile payments and increasing mobile sales."
  • ‘Billion-Dollar Desktop Days’ on a Record Run - eMarketer - "Since Thanksgiving, daily online purchasing via desktop computers has topped $1 billion for 19 straight days through Monday, far surpassing last year’s record of nine consecutive billion-dollar days, according to comScore."
  • Barclaycard Henry’s Café and Bar London bar tests contactless self-serve beer pump - NFC World - "The Pay @ Pump device has been designed by Barclaycard, following research by the company that revealed more than a quarter of British consumers (28%) are calling for contactless payments to be made available in every pub and bar nationwide. Some 19% said they would like to see pubs and bars install contactless beer pumps."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Glenbrook's 2016 boot camps are done but there's more to look forward to. Our next Glenbrook payments education events are in San Jose, CA, New York, NY, and Atlanta, GA. See our spring schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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, 2016

Headline News from PaymentsNews.com - December 15, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Non-cash payments set to soar - Information Age - "The value of non-cash payments in the US and UK will reach $46 trillion and £1.44 trillion respectively by 2026, new research from global law firm Paul Hastings has revealed today. In the US, this is a 36% increase on 2016’s figure of $33 trillion, with there being 221 million contactless mobile payment users within a decade."
  • Accelerating the Adoption of Tokens to Benefit Banks, Merchants and Consumers - Mastercard - "To continue to drive the wider adoption of tokens – an effort supported by both our bank and merchant partners – we recently signed an agreement with Visa that will accelerate the adoption of tokens in Masterpass and Visa Checkout. The reciprocal tokenization agreement allows Visa to request tokenized Mastercard payment credentials from Mastercard for provisioning into Visa Checkout, and for Mastercard to request tokenized Visa credentials from Visa for provisioning into Masterpass."
  • Yahoo and Other Breaches Drive Surge in Corporate Hacking Insurance - Wall Street Journal - "Cyberinsurance is the fastest-growing insurance product in America, fueled by a slate of recent corporate and government hackings."
  • The Tapscotts on Blockchain in 2016 and What’s Next - Coindesk - "2016 was the year that many bank CEOs woke up to both the threat and the opportunity of the blockchain. At a meeting of 50 CEOs of the 50 largest banks back in January, most were skeptical. Now most are investigating how this technology might transform their companies and industry services."
  • Android everywhere: If it has a screen, it will probably run Android soon - Ars Technica (Page 2 for section on ATMs) - "As part of the never-ending quest for ATM security, the Android build in the Cx110 is actually a thin client. As a node in NCR's "Kalpana Enterprise Software Platform," NCR has turned the ATM from a fully fledged computer with minimal network communications to a thin client with centrally managed "application, security, and operational components." As an open source OS, NCR can strip away everything they don't need, greatly reducing the attack surface."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Glenbrook's 2016 boot camps are done but there's more to look forward to. Our next Glenbrook payments education events are in San Jose, CA, New York, NY, and Atlanta, GA. See our spring schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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, 2016

Headline News from PaymentsNews.com - December 14, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Two fifths of global card-present payments use EMV standard - NFC World - "More than two fifths of all card-present transactions conducted globally (42%) between July 2015 and June 2016 used the EMV chip card standard, up from 33% for the previous 12-month period, standards body EMVCo has revealed."
  • ACH Volumes Continue Their Hot Streak With Nearly 6% Growth in the Third Quarter - Digital Transactions - "Continuing the stepped up growth rate it’s seen for nearly two years, the automated clearing house network’s transaction volume grew 5.7% in the third quarter, slightly better than the second quarter’s 5.6% growth rate."
  • Swift’s Global Head of Banking Argues Blockchain Isn’t a Disruption - Coindesk - "Companies like distributed ledger startup Ripple and others have set the global financial messaging platform square in their sites as the ultimate middleman to be cut out of the loop. But this is not Swift’s first time facing the potential benefits, and threats, of a new technology. Swift’s global head of banking, Harry Newman, is also the sponsor of both his firm’s current blockchain applications. Having run a series of tests on two very different blockchain use cases, he’s come to the conclusion that there’s nothing to fear from blockchain."
  • Introducing Braintree’s Commerce Infrastructure Tools - Braintree blog - "At their core, the commerce infrastructure tools are a set of APIs that address the complexities of sharing customer and payment data between parties. With these new APIs, merchants or platforms have the ability to create their own experiences, both in app and on their site, by being able to securely share payment data with any party they choose to partner with, regardless of payment processor, all while remaining PCI compliant. "
  • ‘Tis The Season For Scams: How Blockchain Helps Prevent Brand Fraud - Retail Touch Points - "As the sheer volume of e-Commerce transactions increases over time, it is becoming more difficult for retailers and brands to decipher between legitimate and fraudulent activity. Companies are searching for new products and procedures to quickly identify fraudulent transactions and returns. One-way to authenticate goods is by using a blockchain"
  • Here's the Biggest Smartphone Feature for 2017 - Tom’s Guide - "The next big feature in your smartphone might be closer than you think. Synaptics today (Dec. 13) announced a new line of optical fingerprint sensors that will allow phone makers to place the sensor, complete with biometric technology, under the glass on the front of the phone."

ON THE WIRES

  • Consumers Aren't Averse to Debt and Credit - They're Averse to Uncertainty - "Drawing upon a survey of 1,089 U.S. individuals between the ages of 22 and 44, the study reveals that while a large percentage of consumers worry about the mismanagement of credit cards, they are simultaneously open to a healthy amount of debt. Consumers recognize the necessity of credit, but have real concerns about its sometimes confusing terms."
  • Signifyd and ThreatMetrix® Combine Machine Learning and Digital Identities to Eliminate Online Payment Fraud - "Signifyd’s VP of Partnerships, Skye Spear, summarizes what the partnership means for ecommerce merchants, “ThreatMetrix provides global shared intelligence on more than a billion digital identities. The ThreatMetrix Digital Identity Network provides additional insights for Signifyd’s machine learning capabilities enabling us to authenticate orders from customers who may have previously been denied. We’re able to incorporate additional data in real-time to identify and mitigate sophisticated fraud scenarios across one or more of our customers emulating multiple buying identities. Our goal is to increase decision confidence for online merchants through a managed service that’s backed by a financial guarantee.”"
  • In A Digital World, Consumers Expect Multi-Channel Financial Services Yet Many Still Prefer the Branch, Reveals Fiserv Research - "Fiserv, Inc. (NASDAQ:FISV), a leading global provider of financial services technology solutions, has released the results of Expectations & Experiences, its quarterly consumer trends survey. Consumers increasingly expect financial services on-demand and on their terms, and the study revealed that transaction type and life stage often relate to how people bank. While a majority of consumers prefer online or mobile banking, and those channels are far more frequently accessed for day-to-day interactions, a surprisingly high number of consumers still visit the branch."

GLENBROOK PAYMENTS EDUCATION EVENTS

Glenbrook's 2016 boot camps are done but there's more to look forward to. Our next Glenbrook payments education events are in San Jose, CA, New York, NY, and Atlanta, GA. See our spring schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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 13, 2016

Headline News from PaymentsNews.com - December 13, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • In Global First, India Offers Discounts for Payments Made Online - Bloomberg - "Exactly 30 days after junking existing high-value 500 and 1,000 rupee notes, Finance Minister Arun Jaitley sought to draw Indians toward digital payments by offering up to 10 percent off on insurance policies, highway usage and concessions on train travel. The government will also waive service tax on online transactions below 2,000 rupees ($29.6), he added. Apart from these, there will be a 0.75 percent discount at petrol stations even though oil companies currently add a surcharge for using debit or credit cards."
  • Mastercard highlights European financial exclusion issue - IBS - "Financial exclusion is not just a developing markets problem – millions of those affected live in Europe’s richest countries, new Mastercard research shows. Of those who are financially excluded across Europe, a third are employed full time and 35% are aged 18-34. 138 million Europeans are without a bank account or payment methods."
  • Android Pay launches in Japan with prepaid card provider - NFC World - "Google has launched its Android Pay mobile payments platform in Japan in collaboration with prepaid card provider Rakuten Edy, allowing consumers to make payments with their compatible devices at more than 470,000 locations accepting Rakuten Edy eMoney."
  • SA payments startup SnapScan acquired by Standard Bank 0 - Disrupt Africa - "zSouth Africa’s Standard Bank has acquired a majority stake in Firepay, the company behind mobile payments solution SnapScan. Firepay, formed in 2013, launched SnapScan in partnership with Standard Bank in 2014. The product allows users to pay for good and services by scanning a QR code on their mobile phones. SnapScan now has a national network of more than 32,000 physical and online merchants, while Firepay’s technology platform also enables payments for clients including WeChat and Masterpass."
  • VeriFone’s Galant Says Networks’ EMV Extension for Fuel Pumps Will Hurt Its Results - Digital Transactions - "“We were disappointed and somewhat shocked at the three-year delay,” VeriFone chief executive Paul Galant told analysts during an afternoon conference call to discuss the company’s results for its fiscal fourth quarter, which ended Oct. 31, and for the full fiscal year."
  • Japanese financial service providers begin facial recognition payment trials - NFC World - "“In these trials, NEC, SMBC and Sumitomo Mitsui Card aim to verify the recognition performance, employee receptivity to biometric authentication and operational aspects of the service, while gaining experience and know-how with a view to providing safe, secure, convenient cashless (and cardless) payment services utilising facial recognition technology at branches in the future,” the company adds."

ON THE WIRES

  • Privacy Launches To Make Your Payments Safer & Easier - "Privacy was co-founded by payments and security company veterans, including Andy Roth, the former Chief Privacy Officer at American Express, as a way to give people control of their personal and financial information. Designed for everyone, Privacy generates a new virtual card for every credit card transaction a shopper makes, protecting them from the worry and time-consuming headaches associated with credit card fraud, data breaches, and identity theft. Available for free on Apple iOS and Google Chrome, Privacy allows users to create "burner" cards with one click that terminate after one transaction or general cards that can be used for recurring transactions at trusted merchants."
  • Viewpost and Comdata Team Up to Streamline Secure ePayables - "Viewpost, the secure B2B network for electronic invoicing, payments and cash management, today announced a partnership with Comdata, one of the largest commercial credit card issuers for MasterCard in North America, to give businesses an option to pay their suppliers with virtual credit card transactions."
  • Scalefast Selects Ingenico Group to Boost Global, Multi-channel Payment Processing Capabilities - "Ingenico Group (Euronext: FR0000125346 - ING), the global leader in seamless payment, today announced that it has signed an agreement to provide global, full-service payment processing to Scalefast, a fast-growing eCommerce platform provider for the video game and entertainment industries, leveraging its eCommerce and cloud-based mobile point of sale (mPOS) solutions."

GLENBROOK PAYMENTS EDUCATION EVENTS

Glenbrook's 2016 boot camps are done but there's more to look forward to. Our next Glenbrook payments education events are in San Jose, CA, New York, NY, and Atlanta, GA. See our spring schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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 12, 2016

Headline News from PaymentsNews.com - December 12, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Panasonic Takes Item Out of Bagging Area: Human - Wall Street Journal - "Panasonic Corp. is introducing convenience-store checkout machines that can scan and bag items on their own, joining Amazon.com Inc. in the push for more retail automation."
  • Why Bitcoin's Remittance Disruption Slowed to a Crawl - Coindesk - "So, what exactly are the dynamics of the remittance market that keep Western Union, MoneyGram, etc, at the top of the food chain, and what would it take to chip away at their position?"
  • I have seen the future of wearable payments, and it is magical - Android Central - "I went to Walt Disney World at the beginning of December. It was absolutely glorious. And each day, while in the parks, I did not take a wallet with me. I stuck my driver's license in the back of my phone's clear case, and that was all I brought. And while I bought tons of keepsakes and food, my credit cards stayed safely in my hotel room. Did I use Android Pay? Samsung Pay? Apple Pay? No; I used something even better."
  • Bipartisan cybersecurity panel issues report recommending stronger authentication - Biometric Update.com - "The report identified several key authentication requirements, including that all citizen-facing digital government services require strong authentication; that all private-sector organizations use strong authentication solutions as the default for major online applications; and that all federal agencies use strong authentication by their employees and contractors."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Glenbrook's 2016 boot camps are done but there's more to look forward to. Our next Glenbrook payments education events are in San Jose, CA, New York, NY, and Atlanta, GA. See our spring schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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 09, 2016

Headline News from PaymentsNews.com - December 9, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Mobile is eating the world - Benedict Evans - "As we pass 2.5bn smartphones on earth and head towards 5bn, and mobile moves from creation to deployment, the questions change. What's the state of the smartphone, machine learning and 'GAFA', and what can we build as we stand on the shoulders of giants?"
  • Reward Credit Cards: How Much Cash Can You Get? - Wall Street Journal - "Cash-back rewards cards are increasingly popular with shoppers, prompting financial institutions to develop programs that, in some cases, return as much as 10% of spending. But the recent explosion in cash-back cards has some industry executives worried the market is getting overheated. "
  • US Federal Reserve Releases First Distributed Ledger Research Paper - Coindesk - "“An important goal of this paper is to examine how this technology might be used in the area of payments, clearing, and settlement and to identify both the opportunities and challenges facing its practical implementation and possible long-term adoption.”"
  • 'Sovereign' Blockchains Will Change Monetary Policy, Bank Paper Argues - Coindesk - "“Once such a sovereign blockchain is created with a [central bank cryptocurrency], other financial instruments such as bonds, equities, derivatives and even land and car registries could migrate to the same sovereign blockchain. This would allow the central bank to conceivably see the creation of all commercial bank assets in an economy.”"
  • eMarketer Cuts Estimates for Ecommerce in India - eMarketer - "The downgrade largely reflects the Indian government’s recent efforts to crack down on illegally obtained or undeclared money, banning large denominations of the rupee. It is a significant change for the ecommerce sector because cash on delivery payments are a widely used method for digital transactions in India. In a market where the population is relatively “under-banked,” COD becomes the most effective way of buying online."
  • Year Ahead 2017: Machine Learning Reboots Cybersecurity - CIO Journal (WSJ) - "“You can’t know all of the threats. Traditional controls alone aren’t viable, when we are sending petabytes of data to different organizations on a daily basis,” Mr. Sherwood says. “Security in the future is going to be based on intelligence, the use of AI to assist the staff. There is no other way.”"

ON THE WIRES

  • ECCHO Exploring Possible Strategic Opportunities - "ECCHO has been instrumental in supporting the financial services industry's successful migration from paper checks to electronic check images. We believe that the U.S. payments system is on the threshold of another milestone transformation, due in part to the financial services industry's and Federal Reserve's efforts to develop faster payments and related technological advancements. ECCHO wants to ensure that it is best positioned to continue to support check image exchange and to facilitate the upcoming faster payments innovations. Key objectives for this strategic opportunity include enhancing ECCHO's functions currently provided to its members and the banking industry generally, including its rules, advocacy, educational and check resource functions," said David Walker, President and CEO of ECCHO."
  • Air Force Federal Credit Union Launches New SAF-T™ Account - "The SAF-T account is a non-traditional transactional checking account. It does not have checks and only PIN-based transactions can be done on the AFFCU Visa® Debit card. It's unique in that there are no monthly maintenance fees and it protects you from fees such as NSF, Courtesy Pay, Overdraft Protection, Dormant account and other fees. "
  • Emergent Payments Moves Into Nigeria - "Emergent Payments is offering merchants a completely local solution with a set of value-added services to simplify payments. These include support for the preferred payment channels – Verve bank card and Quickteller for instant P2P transfers to all Nigerian banks – as well as full tax compliance, remittance in major currencies and an extensive understanding of regulatory requirements."

GLENBROOK PAYMENTS EDUCATION EVENTS

Glenbrook's 2016 boot camps are done but there's more to look forward to. Our next Glenbrook payments education events are in San Jose, CA, New York, NY, and Atlanta, GA. See our spring schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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 08, 2016

Headline News from PaymentsNews.com - December 8, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Facebook just secured an e-money license in Ireland, paving the way for Messenger payments in Europe - TechCrunch - "Paving the way for friend-to-friend payments to come to Facebook Messenger in Europe (and after the functionality debuted in the U.S. all the way back in March last year), Facebook has quietly secured an e-money license from the Central Bank of Ireland."
  • DST leads $80M round in Brazil’s Nubank to take on the big boys in financial services - TechCrunch - "Currently Brazil has the largest credit card market in the region, with 100 million cards in circulation. But as Vélez describes it, the country’s five largest banks — which control some 95% of all consumer financial services in the country — are being impacted by the economy today, and they are pulling away from some services and trying to cut their costs, resulting in worse terms for their customers. This means that smaller offerings like Nubank’s, whose credit card is “free” — as long as you pay your balance on time (that is, no upfront or service charge as many others do in Brazil) — suddenly become more attractive to consumers."
  • Inside 'Spark': Circle's New Bitcoin-Powered Smart Contract Platform - Coindesk - "Called 'Spark', Circle's new tech isn't a blockchain or a new cryptocurrency. Rather, as explained by the company, it uses a combination of bitcoin, other blockchains and traditional settlement rails to further its mission of promoting a global, social payments platform."
  • Canadian bank replaces NFC SIM-based service with HCE - NFC World - "“This enhancement to our My Mobile Wallet service now makes use of HCE/cloud rather than the NFC SIM-based service,” Scotiabank said."
  • Faster Frappuccinos in China as Starbucks Joins WeChat Payments - Bloomberg - "WeChat lets users text friends, post selfies and pay a gas bill with a smartphone. From today, the blockbuster Chinese app, known as Weixin Pay in China, can also be used to buy a Java Chip Frappuccino."
  • Google evaluates FIDO authentication - SD Times - "“At Google, we prefer to make data-driven decisions based on statistical and empirical verification,” Google wrote in a post. “This is particularly true when the security and privacy of more than billion users are stake, so we applied this philosophy to verify the practical benefits of deploying FIDO-based Security Keys to our more than 50,000 employees.”"
  • Toward new possibilities in threat management - PWC - "An integrated threat-intelligence and information-sharing platform can be a great unknown for even the most cybersavvy of executives."

ON THE WIRES

  • With LevelUp, Chase Pay enables customers to order ahead and pay at thousands of quick-service restaurants - "Chase is collaborating with Boston-based tech company LevelUp to use its technology so Chase Pay users can order ahead and save time. Customers can pay when they order ahead or in person at LevelUp or Chase Pay branded scanners at the counter. In addition, customers will have access to special offers available through the app."
  • FIS Launches Network for High Potential Early Stage Fintechs - "FIS™ (NYSE: FIS), a global leader in financial services technology, today announced the launch of a network of early-stage fintech companies with direct applicability to the financial services ecosystem served by FIS. The FIS HiPo (short for “high potential”) Network is a collection of firms that have demonstrated substantial promise in the development of new tools and technologies that deliver purposeful innovation for our clients around the world."
  • First Data Launches Clover™ Mini and Clover™ Mobile in the U.K. - "First Data (NYSE: FDC), the global leader in commerce-enabling technology, today announced the expansion of its Clover platform with the official launch of Clover Mini and Clover Mobile in the U.K. The “all-in-one” business management solutions have enjoyed broad adoption in the U.S. since they were introduced last year. With Clover, business owners have the point-of-sale technology to handle the daily challenges of running a business."
  • Revel Launches Mobile Business Performance Monitoring App for its iPad POS - "Revel Systems, the world's leading iPad Point of Sale management solution for brick-and-mortar retail, food businesses and more, today announced the launch of Insights by Revel, an app designed to offer business owners and management vital insights and real-time data, promoting efficient business management and precise data reporting."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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 07, 2016

Headline News from PaymentsNews.com - December 7, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Square’s virtual payment cards now work with Apple Pay - recode - "Square CEO Jack Dorsey announced the new integration with Apple at Recode’s Code Commerce event in San Francisco on Tuesday. The move means that users can take money from their Square Cash account to buy things anywhere Apple Pay is accepted."
  • Circle Cuts Bitcoin Buying and Selling in Product Pivot - Coindesk - "Circle Internet Financial, once one of the best-funded early bitcoin startups, has announced it will no longer allow customers to buy and sell the digital currency. Confirmed today via an announcement in The Wall Street Journal and first revealed at last night in a customer update, Circle said it will now focus on using a soon-to-be-launched proprietary blockchain-based protocol called Spark."
  • Apple Pay targets US retail and transport expansion - NFC World - "Apple Pay is now accepted by 35% of US retailers, representing about 4m locations across the country, Apple VP Jennifer Bailey has revealed during the Re/code Code Commerce event in San Francisco."
  • India Panel Said to Recommend Tax Breaks for Digital Payments - Bloomberg - "The Niti Aayog has suggested an additional charge to be levied on cash transactions so that more individuals opt for electronic payments, two government officials said asking not to be identified citing rules. It has also recommended the government scrap rules that restrict online sale of certain types of medicines."
  • Android Pay Comes to Ireland - Google blog - "Starting today, Android Pay is available in Ireland, helping you pay simply and securely with your Android phone."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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 06, 2016

Headline News from PaymentsNews.com - December 6, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Banks, Retailers Take Swipes at Each Other Over Dodd-Frank Fees - Bloomberg - "Six years ago, when President Obama signed the Dodd-Frank Act into law, America’s retailers got a big reduction in the debit-card fees they pay banks. Now, with Donald J. Trump set to take office, they’re preparing for a lobbying fight to defend that legislative victory -- and the billions they’ve saved as a result."
  • Alipay expands partnerships to tap Chinese travelers to Europe - Reuters - "Alipay said Tuesday it has partnered with four more financial services providers in Europe, as it looks to tap into Chinese consumers traveling abroad, in a move that could help China's top online payments platform expand its global footprint nearly tenfold."
  • Flutterwave aims to unify Africa’s fragmented payment systems and empower small businesses - TechCrunch - "Moneywave isn’t a user-facing tech like Square or Venmo, but an API layer that can be integrated into your business platform, however modest it is. Payments of whatever type or currency — card, bank transfer, e-wallet — enter on one side and come out the other into the bucket of your choice."
  • Russian central bank hit by $31m hacks - Finextra - "Russia's central bank says that hackers stole more than two billion rubles (around $31 million) from correspondent accounts this year."

ON THE WIRES

  • Vantiv and PPRO Group Partner on International Alternative Payment Methods for U.S. Merchants to Expand Their Reach Overseas - "This new relationship means that Vantiv's customers will be able to offer non-card payment methods – including direct debit, bank transfers, cash-based e-payments, and e-wallets – to international consumers through a single integration and customer service experience for both domestic and international payments processing."
  • Mastercard and Wells Fargo Make Sending and Receiving Money Faster, Easier, and More Secure - "Mastercard (NYSE:MA) and Wells Fargo & Co. (NYSE:WFC) announced today that Mastercard SendTM is now speeding payments for Wells Fargo Treasury Management and Wells Fargo Merchant Services customers. Mastercard Send™ is a payments service that sends funds quickly and securely to consumers domestically."
  • American Express® to Enhance Fraud-Prevention and Security Capabilities With Acquisition of InAuth - "As an extension of the company’s multilayered strategy for fighting fraud, American Express (NYSE:AXP) today announced it has acquired InAuth, Inc., a leading provider of mobile device authentication and intelligence solutions. InAuth’s technology is used by some of the largest financial institutions, banks, payment networks and merchants to reduce risk and help identify potential fraud utilizing its mobile-first device authentication capabilities."
  • Mint Introduces Bill Pay, Helping Millions to Never Miss a Bill - "Mint, from Intuit Inc. (Nasdaq: INTU), is adding bill tracking and payment to its free personal finance app to help millions of Americans effortlessly stay on top of bills. New intelligent features send automated reminders, update payment status, and suggest bills to sync based on prior transaction history, with no additional set up needed for existing Mint users. The tools aim to take the work out of bill management by doing what Mint does best: seamlessly integrating data from multiple sources into an actionable picture."
  • Information Security Forum Forecasts 2017 Global Security Threat Outlook - ""The pace and scale of information security threats continues to accelerate, endangering the integrity and reputation of trusted organizations. In 2017, we will see increased sophistication in the threat landscape with threats being tailored to their target's weak spots or threats mutating to take account of defenses that have been put in place," said Steve Durbin, Managing Director of the ISF. "Cyberspace is the land of opportunity for hacktivists, terrorists, and criminals motivated to wreak havoc, commit fraud, steal information, or take down corporations and governments. The solution is to prepare for the unknown with an informed threat outlook. Better preparation will provide organizations of all sizes with the flexibility to withstand unexpected, high impact security events.""

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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 05, 2016

Headline News from PaymentsNews.com - December 5, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • The Fed Leaves Durbin Cap Unchanged Despite Ongoing Drop in Issuers’ Debit Card Costs - Digital Transactions - "Issuers subject to the Durbin Amendment’s pricing controls on debit card transactions experienced an overall average cost of 4.2 cents to authorize, clear, and settle these transactions in 2015, excluding fraud costs. That is half of the 9.4 cents the Fed calculated in 2011. The average was 4.6 cents in 2013."
  • Amazon launches a beta of Go, a cashier-free, app-based food shopping experience - TechCrunch - "Customers use the Go app to enter the store, and once inside, some combination of sensors, computer vision and deep learning keep track of what’s taken off and returned to shelves inside a virtual cart. Once finished, the shopper just walks out and the company charges their Amazon account, along with a receipt."
  • Guessing Credit Card Security Details - Schneier on Security - "Researchers have found that they can guess various credit-card-number security details by spreading their guesses around multiple websites so as not to trigger any alarms."
  • Viber gets in-app mobile banking system - Mobile Commerce Daily - "“This is the only messaging platform that, through an API, can be directly integrated with banks’ existing digital banking channels.”"
  • Cashless Economy Still a Fantasy for India - Bloomberg - "Problem is, while e-commerce is booming, India remains one of the most cash-dependent countries in the world. Just over half of the nation’s adults have bank accounts, a precursor to using digital payments. Roughly 98 percent of all transactions are in cash, with 11 percent of consumers using a debit card in 2015, while most retailers don’t accept cards. "
  • Santander invests in B2B supply chain platform Tradeshift - Finextra - "Headquartered in San Francisco, Tradeshift operates a B2B e-commerce platform, connecting 800,000 companies across 190 countries. The company boasted a 250 percent growth rate in 2015 for its procure-to-pay capabilities, faster payments services and predictable cash flow services. "
  • Artificial intelligence and the evolution of the fractal economy - TechCrunch blog - "Financial systems are larger than the sum of their parts. The underlying rules that govern them might seem simple, but what surfaces is dynamic, chaotic and somehow self-organizing. And the blood that flows through this fractal heartbeat is data."

ON THE WIRES

  • Visa Checkout and Papa John’s Team Up to Bring Fans Free Pizza - "Continuing its quest to provide the best fan experience, Visa, an NFL Sponsor for more than 20 years, announced the availability of Visa Checkout with Papa John’s, the Official Pizza Sponsor of the NFL. Pizza and football fans can now spend more time building their favorite pizza and watching their team dominate on the field, and less time filling out payment and delivery information. For a limited time, Visa Checkout and Papa John’s are ensuring fans are well-fed by offering them a new deal: order any Papa John’s pizza on PapaJohns.com and pay using Visa Checkout, and get a free large 1-topping pizza with your next purchase."
  • By adding giropay to its International payment method portfolio, Limonetik now offers Merchant access to 35 m. of German Consumers - ""With e-commerce globalisation, giropay is constantly looking at developing its network of International payment partners, especially in France." giropay has chosen Limonetik because of its simple implementation and its wide network of affiliated e-merchants interested in accessing the German e-commerce market. "Limonetik allows merchants to easily add giropay to their website's payment page. With Limonetik, we accelerate the availability of giropay in Europe", adds Joerg Schwitalla."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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 02, 2016

Headline News from PaymentsNews.com - December 2, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Regulator Will Start Issuing Bank Charters for Fintech Firms - Wall Street Journal - "Financial-technology firms will soon have the chance to apply for new banking charters, under a plan from a top U.S. regulator designed to let thousands of upstarts grow nationally under federal oversight."
  • CIO Voices: Capital One’s Rob Alexander on How to Win in Banking - CIO Journal (WSJ) - "For Rob Alexander, CIO of Capital One Financial Corp., there’s little division between a bank and a technology company. “Technology is reshaping this business,” he says. “The winners will integrate banking into customers’ lives.”"
  • Why in-store mobile payments are still struggling - Mobile Commerce Daily - "This Black Friday, one of the trends that was noted by researchers from Cayan was the ratio of purchases made from regular card payments to purchases made with mobile payments. What they found was the mobile payments are sorely lacking in the physical retail world, making up less than 10 percent of all sales, with an average of .6 percent per state. That is more than last year but nowhere near the growth that was expected."
  • YayPay wants to help big companies deal with accounts receivable - TechCrunch - "YayPay is focusing on an interesting yet underserved niche — collecting payments from your customers. The startup is launching the second version of its platform today and now focuses on big companies with accounts receivable teams."
  • Apple Pay launches in Spain - NFC World - "Apple Pay has been officially launched in Spain, with Apple developing partnerships with Banco Santander, payment giants American Express and Mastercard, retailer Carrefour and prepaid meal payment service Ticket Restaurant."

ON THE WIRES

  • Visa to Acquire CardinalCommerce to Secure and Accelerate Digital Commerce - "Visa (NYSE:V) today announced an agreement to acquire CardinalCommerce, an industry leader in e-commerce payment authentication. The acquisition will enable more secure, seamless payments, whether made through a browser, mobile app, or connected device, and will help Visa’s clients and merchant partners accelerate digital commerce."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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, 2016

Headline News from PaymentsNews.com - December 1, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • The SEPA Instant Credit Transfer Scheme Rulebook is Published! - European Payments Council - "Today is a major milestone for European payments: the EPC publishes the first rulebook of the SEPA Instant Credit Transfer (SCT Inst) scheme. It will allow the transfer of initially up to 15,000 euro per single transaction in less than ten seconds, any time and any day, and in an international area that will progressively span over 34 European countries."
  • PayPal Delivers Business Services On-the-Go - PayPal blog - "To extend PayPal’s merchant services to millions of small businesses who need easy access to their account on the go, today we’re announcing availability of the new PayPal Business app, offering businesses an easy way to manage their PayPal account activity wherever business takes them."
  • American Express launches NFC mobile payments in Canada - NFC World - "American Express cardholders across Canada can now make NFC mobile payments using Amex Pay, a new feature added to the Amex App. The service is available for customers with eligible consumer, small business and corporate cards with compatible Android devices and the latest version of the mobile app."
  • As Web Sales Spike, Retailers Scramble to Ship From Stores - Wall Street Journal - "Two decades after Amazon.com Inc. was founded, traditional retailers are still struggling to manage hundreds of brick-and-mortar stores, while trying to maximize online sales. "

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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, 2016

Headline News from PaymentsNews.com - November 30, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Why Closing Bank Branches Isn’t Always a Road to Riches - Wall Street Journal - "One of banks’ favorite cost-cutting strategies in recent years has been closing branches. But a new study suggests the approach may soon backfire."
  • Bank of America chief: Payback from digital investment is long haul - Mobile World Live - "Bank of America’s (BofA) CEO, Brian Moynihan, told Reuters it may take 10 to 15 years before US banks see the benefit of investing in mobile payments and other tech. Moynihan foresees banks still carrying the cost of processing paper-based cheques and carrying physical dollars and cents for that period of time, according to an interview."
  • Bank CEOs fret about ROI as startups drive IT arms race - Finextra - "Innovations such as real-time payments - a hot topic throughout the conference as a result of The Clearing House’s initiative in this space - require banks to think differently about their expectations of ROI, the CEOs acknowledged. "
  • Hyperledger Blockchain Project Passes 100-Member Milestone - Coindesk - "Of the six new members, four are based in China. The new members include Beijing Botuzongheng Science & Technology Co, Shanghai Gingkoo Financial Technology, Sinolending and ZhongChao Credit Card Industry Development Co. Two US-based firms – Altoros Americas and the Chamber of Digital Commerce – have also joined."
  • Dutch bank launches HCE mobile payments app - NFC World - "Dutch bank ABN Amro has launched a mobile payments app for Android using host card emulation (HCE) technology, allowing customers to make purchases up to €2,500 (US$2,659) each day with smartphones running Android 5.0 or higher."
  • Two hackers are selling DDoS attacks from 400,000 IoT devices infected with the Mirai worm - BoingBoing - "Two criminals, Bestbuy and Popopret -- previously implicated in mass-scale corporate espionage -- are spamming the XMPP/Jabber instant messaging protocol with offers to rent out a 400,000-strong botnet of Mirai-infected devices, and the ad promises that their botnet is a significant improvement on the earlier Mirai infections, equipped with IP-address spoofing features that make it harder for the botnet's victims to block the incoming traffic."

ON THE WIRES

  • Foundation laid for pan-European instant payment solutions - "As tasked by the Euro Retail Payments Board (ERPB), the European Payments Council (EPC) today finalised the framework for pan-European instant payment solutions. The SEPA Instant Credit Transfer scheme paves the way for innovative payment solutions in euro, for example via mobile phone, from November 2017."
  • Consumer-driven payments play an increasing role in merchants' point-of-sale technology adoption. - "ControlScan and the Electronic Transactions Association (ETA) surveyed hundreds of SMB merchants to find out. View the consumer-driven payments infographic below to get point-of-sale technology adoption statistics and to learn the three questions merchant service providers should ask the SMBs they serve."
  • Mastercard Rolls out Artificial Intelligence across Its Global Network - "Current decision-scoring products are focused primarily on risk assessment, working within predefined rules. Decision Intelligence is a radical new approach that goes much further. It takes a broader view in assessing, scoring and learning from each transaction. That score then enables the card issuer to apply the intelligence to the next transaction."
  • Central banks are monitoring and fostering the development of fast payment services - CPMI - "The development and importance of fast payments services are the focus of a new report by the Committee on Payments and Market Infrastructures (CPMI), the global standard setter for payment, clearing and settlement services."
  • TSYS Signs Payments Agreement with Virgin Money - "TSYS (NYSE: TSS) today announced that it has reached a long-term agreement to provide debit processing services for Virgin Money customers within the United Kingdom. Virgin Money previously selected TSYS’ market leading TS2® platform to support its UK cards portfolio."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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 29, 2016

Headline News from PaymentsNews.com - November 29, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Apple Gets Win Against Australia Banks Over Mobile Payments - Bloomberg - "Apple Inc. scored a victory in the global battle to control the future of mobile payment technology after the Australian competition regulator refused to grant a group of local banks permission to negotiate collectively over the introduction of Apple Pay."
  • SpendTrend Report: Thanksgiving & Black Friday 2016 - First Data - "The 2016 holiday season is off to a solid start. First Data analyzed transactions from nearly one million merchants and found that overall sales growth was up 9% year-over-year, which represents solid growth on top of strong performance from the prior year. Electronics & Appliances saw the largest increase, with 27% growth year-over-year. This analysis is based on actual consumer transactions rather than surveys or speculation."
  • ATM Skimming Attacks Hit NY Hospitals - CU Info Security - "Local police are investigating ATM skimming attacks at four New York hospitals. Security experts warn that fraudsters will likely continue to target locations, including hospitals, where ATMs are not closely monitored and around-the-clock access to the terminals is available."
  • 1,000-Year-Old Royal Mint Will Soon Launch Blockchain Gold Trading - Coindesk - "As part of this larger drive, The Royal Mint has teamed with derivatives marketplace provider CME Group to build and launch a digital gold offering, one that could find it offering its users the ability to execute, settle and trade gold using a blockchain-based system."
  • Twyp mobile payments app service to close in Netherlands - NFC World - "P2P mobile payments app Twyp is to be closed down in the Netherlands from 15 December 2016 after customers there said they “don’t need or want a separate app to make payments to friends”."
  • Uber rival Grab hits the gas on its digital payments platform in Southeast Asia - TechCrunch - "Credit and debit cards can be used to load money into the GrabPay wallet, but it also supports online banks, local ATMs, local wallets and over-the-counter at selected convenience stores. The long-term goal Grab is banking on is that it can assemble a lengthy list of partners that makes GrabPay worthwhile for storing people’s cash for more than just transportation needs. I.e. reaching that point that a user can pay their water bill, use it to pay for a few groceries from 7-11 store, etc, using GrabPay."
  • EMV Shift Fires Up Online Holiday Season Fraud - Credit Union Times - "In the U.S., Thanksgiving and purchases just prior to Christmas have the highest fraud attempt rates. The expected peak-fraud attempt day is Christmas Eve, with nearly 2.5% fraud, due to the popularity of gift cards and last-minute shopping via buy online/pick up in-store availability."
  • San Francisco Rail System Hacker Hacked - Krebs on Security - "The San Francisco Municipal Transportation Agency (SFMTA) was hit with a ransomware attack on Friday, causing fare station terminals to carry the message, “You Hacked. ALL Data Encrypted.” Turns out, the miscreant behind this extortion attempt got hacked himself this past weekend, revealing details about other victims as well as tantalizing clues about his identity and location."

ON THE WIRES

  • Jack Henry & Associates, Inc.® and Early Warning® Unveil Strategic Partnership - "Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Today the company announced a strategic alliance with Early Warning to resell Early Warning's ZelleSM Network to partner financial institutions. Zelle, a new faster payments network, will enable financial institution customers to send faster person-to-person (P2P) payments to nearly anyone with a U.S. bank or credit union account."
  • Affirm Extends E-Commerce Lending Solution with Support for Four Additional Platforms - "Affirm, Inc., the company started by PayPal co-founder Max Levchin to give consumers honest financial products, today announced support for four additional e-commerce platforms: Kibo Commerce, BigCommerce, AspDotNetStorefront and Zen-Cart. Retailers that utilize any of these e-commerce platforms are now able to offer consumers the ability to purchase goods and services online, and break up payments over multiple months. "
  • USAA Adds Six New Features to Digital Wallet - "The idea of searching through your purse or wallet to find your card soon may become like flipping through a phone book to find a phone number. Beyond mobile payments, the USAA digital wallet is bringing members access to other staples of their physical wallet, including their auto insurance card and medical insurance card."
  • Sionic Mobile’s M-Commerce Platform Now Connects Directly with Oracle MICROS Point-of-Sale - "Just in time for the busy holiday travel season, Sionic Mobile today announced the integrated release of its award-winning ION Commerce Engine (ICE) with Oracle Hospitality MICROS POS solution. The integration provides a cardless, 3-digit checkout experience, enabling restaurants to quickly and securely process mobile payments, instantly reward guests and connect with millions of Mobile Rewards App users."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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 28, 2016

Glenbrook's Spring 2017 Payments Boot Camp Schedule

GP Logo Horizontal 140px Glenbrook’s 2017 Spring Payments Boot Camps in the San Francisco Bay Area, New York, and Atlanta are now open for registration.
Campbell/San Jose, CA - March 7-8, 2017
Workshop Leaders - Russ Jones and Allen Weinberg
Optional Third Day Payments Insight Workshop – Digital Payments

New York, NY - April 18-19, 2017
Workshop Leaders - Bryan Derman and Carol Coye Benson
Optional Third Day Payments Insight Workshop – Faster Payments

Atlanta, GA - May 16-17, 2017
Workshop Leaders - Elizabeth McQuerry and Beth Horowitz Steel
Optional Third Day Payments Insight Workshop – Digital Payments
Agendas, testimonials, and logistics information is available on the Glenbrook website.

NEW! Early Bird discount - save 10% when you register at least 2 months in advance of your preferred workshop. Use discount code GH52R3.

Headline News from PaymentsNews.com - November 28, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • EMV Chip Cards Make for Happier Holidays - Small Business Computing - "The Grinch is visiting fewer small businesses this holiday season. Visa reports that payment card fraud is declining, at least for merchants who are making the switch to point of sale and payment processing systems that accept EMV chip cards."
  • Payments Startup Stripe Valued at $9 Billion in New Funding - Bloomberg - "Stripe Inc. raised new financing that values the startup at about $9 billion, cementing its status as a major player in the crowded digital payments space and heralding a possible initial public offering."
  • Black Friday online sales to hit a record-breaking $3 billion, over $1 billion from mobile - TechCrunch - "Adobe’s final numbers indicate that Black Friday surpassed estimates, with $3.34 billion – 21.6 percent growth, year-over-year. Mobile accounted for $1.2 billion, a 33 percent increase from the year before."
  • American Express Raises Its Fee for Late Payments - Wall Street Journal - "Starting in January, AmEx will charge customers as much as $38 if they are late on more than one payment in a six-month period. That’s $1 more than the company’s old highest fee, and it will put AmEx at the maximum allowed under the Consumer Financial Protection Bureau’s updated guidelines."
  • How Frequently Do Millennials Transact via Mobile? - eMarketer - "Millennials frequently use their mobile devices to pay for things, but concerns about identity fraud or security may be stopping more from transacting this way. August 2016 research found that though many millennial smartphone users in North America and the UK do transact via mobile—whether every day or a few times per week—there are others that only do so once a month or a few times per year. - See more at: https://www.emarketer.com/Article/How-Frequently-Do-Millennials-Transact-via-Mobile/1014749#sthash.ohGsKgPy.dpuf"
  • What Marketers Should Know About Instagram’s Shoppable Photo Tags - Adweek Social Times - "The taggable products feature allows users to tap the tags that are applied to photos. Apart from the usual tags, these will offer more details about the product. The even more awesome part is that this product view window will have a purchase link, which will redirect users to retailers’ own products pages, where they can complete their purchases."
  • Consumers have spoken: Banks need to offer multiple channels, especially mobile - Mobile Commerce Daily - "In addition to wanting more security, the biggest thing banks need to know about their consumers’ habits is that they now expect every aspect of the banking process to be connected. Seventy-five percent of people said they expect a seamless experience when switching between channels – whether that is a mobile app, email, on the phone or any other channel."
  • Businesses Still Neglecting Cybersecurity (Infographic) - Adweek Social Times - "The top three technologies companies should consider adopting, according to the infographic, are; identity management services, an incident response platform and intrusion detection systems."

ON THE WIRES

  • IBM Security Offers Tips To Shop Safely on Cyber Monday - "In preparation for Cyber Monday, IBM Security has created some tips for consumers to follow to stay secure while shopping online."
  • OT Provides a Unified Transportation Payment Card in the Philippines - "There are a lot of unbanked people in The Philippines. In order to allow them to easily use transportation in Manila and in the same way be able to pay, AFPI decided to offer them a single card. To do so, OT provides the multi-purpose smart cards enabling commuters to connect from one train line to another without the hassle of changing tickets. The card can also be used in select bus lines and toll ways. In addition to transportation, cardholders will soon be able to pay for goods via a stored value account loaded in the smart card."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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 23, 2016

Headline News from PaymentsNews.com - November 23, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Morgan Stanley Plans to Drop Out of R3 Blockchain Group - Wall Street Journal CIO Journal - "It’s the latest major bank to retreat from R3, which is exploring the use of the blockchain distributed database technology in Wall Street infrastructure. The WSJ reported Monday that Goldman Sachs Group Inc. dropped out of R3 when it let its membership lapse and declined to invest equity. Banco Santander SA also recently dropped out, Reuters reported."
  • Visa Chip Card Update: October 2016 - Visa Infographic (PDF) - "More than 1.7M merchants are now accepting chip cards, a 191% increase in the last year."
  • MASSIVE YEAR-LONG CREDIT CARD BREACH REPORTED AT MADISON SQUARE GARDEN - WABC - "The venue said it found signs of external unauthorized access in the last week of October. It would have impacted some customers who used their credit card to purchase merchandise and/or food/drink items at Madison Square Garden, the Theater at Madison Square Garden, Radio City Music Hall, Beacon Theater, and Chicago Theater between November 9, 2015 and October 24, 2016."
  • Winners and Losers From India's Cash Ban - Bloomberg (VIDEO) - "While India's war on cash may have hurt some, there have been at least two winners - Visa and MasterCard. Analysts predict that the world's largest payment networks will see a surge in transactions. Bloomberg's Harsha Subramaniam reports on "Bloomberg Markets.""
  • SECURITY AND CONVENIENCE WHEN SHOPPING ONLINE: DOES MONOPOLY OR COMPETITION KEEP US SAFER? - Disruptive Competition Project - "The European Banking Authority is currently redrafting a standard security process for banks and retailers that accept payments. This will implement the updated EU Payment Services Directive (II). It proposes that all online transactions follow a model called ‘strong authentication’. This involves transactions being approved by banks before they can be accepted. So in the future every time you make a simple online transaction with Zalando, BlaBlacar, Amazon, Carrefour or others it would need to be approved by a bank."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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 22, 2016

Headline News from PaymentsNews.com - November 22, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Visa warns of ‘serious disruption’ to online payments from EBA proposal - NFC World - "Visa is warning a proposal from the European Banking Authority (EBA) requiring every online transaction over €10 (US$10.61) to have additional authentication steps at checkout will “seriously disrupt online shopping and cause inconvenience for consumers”."
  • More people than ever will shop online over the holidays, spending to rise by 18% - TechCrunch - "The projections come from Visa, which has a stake in e-commerce through its PayPal and Apple Pay rival, Visa Checkout. The digital payments service today has over 15 million consumer accounts, hundreds of thousands of participating merchants, and support from over 1,400 financial institutions across 16 countries."
  • Blockchain startup R3 cuts fund-raising target to $150 million: source - Reuters - "Blockchain company R3 CEV has reduced the amount it aims to raise from bank members in its first large round of equity funding to $150 million from $200 million and is changing the structure of the deal, according to a person familiar with the plans."
  • Santander Quits R3 Blockchain Consortium - Coindesk - "Spanish banking giant Banco Santander is no longer a member of the R3 blockchain consortium, CoinDesk has learned."
  • Paytm transactions outdo combined physical card usage in India - Fabnewz - "Thanks in major part to the recent demonetisation move by the Indian government and the resulting cash crunch, Paytm, India’s leading mobile payment and e-commerce market player, has seen a financial windfall as people feel compelled to switch to digital wallets like those offered by Paytm. It has been confirmed now that the company is currently doing more transactions than the combined average daily usage of credit and debit Cards in India. This may prove to be a major boost for the Alibaba-backed group."

ON THE WIRES

  • Visa Modifies Policies on Debit Routing - "Visa is providing additional clarification that merchants can use the Common Debit AID exclusively to route U.S. debit transactions if they choose. Merchants are also not required to ask the cardholder to choose the AID or network for processing debit transactions. Merchants can continue to automatically ask, or prompt, a Visa cardholder to enter a PIN on in-person transactions, provided the cardholder can still use their card without a PIN if they prefer."
  • Conformance Technologies Partners with Base Commerce for PCI Compliance, Penetration Testing and PAN Scanning - "Conformance Technologies, a fast-growing provider of operating systems, education systems and expertise used in managing business compliance requirements, today announced that Base Commerce has selected its PCI ToolKit® solution for Payment Card Industry Data Security Standard (PCI DSS) merchant portfolio compliance validation. Base Commerce merchants will also have access to Conformance Technologies’ Cyber Attack Readiness ToolKit™, which provides cost-effective and easy-to-use penetration testing and primary account number (PAN) scanning services that fully meet tough PCI DSS requirements established last year."
  • U.S. is the Global Fraud Hotspot, with Online Fraud Attempts Expected to Increase 43% During Peak Holiday Season Due to EMV Shift - "As the busy holiday shopping season approaches, global retailers can expect a 12 percent growth in online fraudulent activity in the upcoming holiday season, compared with the same period last year—and lower ticket prices on fraudster-targeted gifts and products, according to new benchmark data from ACI Worldwide (NASDAQ: ACIW). The data*, based on hundreds of millions of transactions from retailers globally, provides actionable insights that merchants can leverage to protect against fraudulent activity this holiday season."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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 21, 2016

Headline News from PaymentsNews.com - November 21, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Goldman Sachs Drops Out of R3 Blockchain Group - Wall Street Journal - "Goldman Sachs Group Inc. has dropped out of the R3 CEV LLC blockchain group. The investment bank was one of nine original members of R3, founded in 2014 to explore the use of the distributed database technology in Wall Street infrastructure."
  • New Insights. New Opportunities to Seize. The 2015 Prepaid Consumer Insights Study - First Data blog - "This year’s Consumer Insights Study not only shows how vital a robust prepaid gift card program is to retailers’ broad marketing strategy, but also illustrates just how firmly mobile wallets and the popularity of online shopping have been embraced by consumers and their desire for faster and more personalized shopping experiences."
  • Hackers Program Bank ATMs to Spew Cash - Wall Street Journal - "In Taiwan and Thailand earlier this year, the criminals programmed bank ATMs to spew cash. Gang members stood in front of the machines at the appointed hour and collected millions of dollars. Earlier this month, the Federal Bureau of Investigation warned U.S. banks of the potential for similar attacks. The FBI said in a bulletin that it is “monitoring emerging reports indicating that well-resourced and organized malicious cyber actors have intentions to target the U.S. financial sector.”"
  • How Frequently Do Millennials Transact via Mobile? - eMarketer - "Millennials frequently use their mobile devices to pay for things, but concerns about identity fraud or security may be stopping more from transacting this way. August 2016 research found that though many millennial smartphone users in North America and the UK do transact via mobile—whether every day or a few times per week—there are others that only do so once a month or a few times per year."
  • European Millennials Hungry For (Good) Mobile Payment Technology - Perficient - "While more than half of the ~4,000 millennials from Germany, Italy, UK, and the Netherlands that took part in the study exhibit deep interest and a strong desire to leverage mobile devices for making payments, the lack of features and benefits today’s technology offers is preventing them from changing their habits. In addition, poor awareness and understanding of the technology currently available contributes to the slow adoption."
  • Towards a Trusted Framework for Identity and Data Sharing - Wall Street Journal CIO Journal blog - "As the economy and society move toward a world where interactions are primarily governed by digital data and transactions, our existing methods of managing identity and data security are proving inadequate. Large-scale fraud, identity theft and data breaches are becoming common, and a large fraction of the world’s population lacks the credentials needed to be part of the digital economy."

ON THE WIRES

  • Chase Pay App Debuts - "Starting today, Chase customers can download and pay with Chase Pay®, the new digital payment solution that works in stores, in app, and online. The Chase Pay app works at the more than 7,500 participating Starbucks® locations in the U.S. and nearly 1,400 Best Buy® stores."
  • Apple Pay Messaging at Point-of-Sale Drives 135% Increase in Mobile Payments Usage - "USA Technologies, Inc. (NASDAQ:USAT) (“USAT”), a payment technology provider of cashless and mobile transactions in self-serve retail, today announced the results of a six-month study testing targeted point-of-sale advertising of Apple Pay, which is transforming mobile payments with an easy, secure and private way to pay that’s fast and convenient. Based on the results showing a steady upward trajectory in mobile payment usage, USAT concluded that smartphone users shown digital advertising at point-of-sale through the ePort Interactive platform are more apt to pull out their iPhone to make a purchase, and even spend more."
  • Trustonic and Sequent Collaborate to Protect Mobile Services with TEE - "Sequent Software, the leader in bringing cards to mobile, and Trustonic, the leading provider of mobile device security, have announced a collaboration to increase the adoption of digital cards on smartphones and wearables. This integration of the Trustonic Hybrid Protection (THP) solution with Sequent Platform will increase the security of billions of digital cards and will bring about significant change in the fields of payment, transit, access control and hospitality applications."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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 18, 2016

Headline News from PaymentsNews.com - November 18, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • IRS to Coinbase: please identify active US traders between 2013 and 2015 - Ars Technica - "As part of an ongoing tax evasion investigation, the Internal Revenue Service has asked a federal court to force Coinbase, a popular online Bitcoin wallet service, to hand over years of data that would reveal the identities of all of its active United States-based users."
  • PayPal Cross-Border Consumer Research 2016 - PayPal Global Summary Report - "China is the most popular cross-border online shopping destination for global online shoppers, followed by USA and UK. Portugal, Peru and Ireland are the countries where cross-border online shopping is most prevalent. Japan and Poland have the lowest incidence of cross-border online shoppers."
  • 6 Takeaways From CoinDesk's Q3 State of Blockchain - Coindesk - "Once dedicated solely to developments on the bitcoin blockchain, the report now is divided into two sections, one on public blockchains (profiling bitcoin and ethereum) and the other on enterprise blockchains (capturing startups like R3CEV, Chain and DAH). Our full report offers a number of takeaways, though most are centered squarely on how this delineation is impacting the market."
  • UK bank to extend trial of behavioural biometrics security - NFC World - "UK bank Natwest has trialled a behavioural biometrics system designed to offer continuous authentication throughout an online banking session, using more than 500 behaviour patterns to identify users and prevent fraud from unauthorised logins and automated attacks."
  • Apple patent shows Siri inside iMessage to help with scheduling, payments and more - TechCrunch - "The patent, which was first spotted by the AppleInsider blog, explains how Siri could be used during a chat session to answer questions, schedule meetings, offer directions, provide weather information, check movie times, book dinner reservations, complete financial transactions and more."

ON THE WIRES

  • Retail Realm's mAX Pay Extends Microsoft Dynamics AX in Payment Processing - "Retail Realm, a multinational retail-centric software developer and distributor, announces the global release of RR mAX Pay, an integrated software solution that maximizes Microsoft Dynamics® AX in the retail payments space. The company recently showcased mAX Pay at the Microsoft Dynamics US Industry Summit as a complete Dynamics AX retail payments integration with global industry leaders Shift4 Corporation and Ingenico Group."
  • SkyMode among the First E-commerce Solutions to Support Apple Pay on the Web - "US mobile e-commerce sales are forecast to exceed $335 billion annually and represent more than half of all e-commerce transactions by 20201, according to eMarketer. Apple Pay for the Web, which has quickly become the 4th most popular online payment platform2, and similar solutions, such as Google's soon-to-be-available Android Pay, help increase conversion rates at the point of payment and are the first in a series of needed innovations to enhance the mobile purchase experience for retailers and their customers and close the mobile monetization gap."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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 17, 2016

Headline News from PaymentsNews.com - November 17, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Visa’s EMV Debit Routing Practices Attract the Attention of the FTC And the Fed - Digital Transactions News - "The Federal Trade Commission is investigating Visa Inc.’s practices involving EMV debit card transaction routing, Visa disclosed Tuesday. And the Federal Reserve earlier this month posted guidance about EMV debit routing that, according to retailer trade groups, was issued in response to their objections to Visa’s practices at the point of sale."
  • Android Pay launches in Poland - NFC World - "Android Pay has begun rolling out across Poland, allowing consumers with compatible devices to make payments at more than 400,000 retail locations in the country that accept contactless payments. The service launches with support from Mastercard and Visa along with Alior Bank, Bank Zachodni WBK and T-Mobile Banking Services."
  • Chinese IoT Firm Siphoned Text Messages, Call Records - Krebs on Security - "A Chinese technology firm has been siphoning text messages and call records from cheap Android-based mobile smart phones and secretly sending the data to servers in China, researchers revealed this week. The revelations came the same day the White House and the U.S. Department of Homeland Security issued sweeping guidelines aimed at building security into Internet-connected devices, and just hours before a key congressional panel sought recommendations from industry in regulating basic security standards for so-called “Internet of Things” (IoT) devices."

ON THE WIRES

  • Retailers Demand Details from Visa on Response to Fed Rule Violations - "Today, merchant associations representing tens of thousands of U.S. merchants sent a letter to Visa CEO Charles W. Scharf and CEO-Designate Al Kelly in response to a declaration by the Federal Reserve that the technical specifications and rules provided to merchants as part of the EMV migration violate federal law. The letter, addresses the November 2nd declaration made by the Federal Reserve that no payment card network can directly or indirectly force retailers to deploy a technology or enforce a rule that inhibits merchant routing choice, and that any technical specifications that inhibit merchant routing choice do not comply with current regulation. Just this week, Visa disclosed that the Federal Trade Commission was investigating Visa's rules related to routing."
  • Canadian Payment Methods and Trends Report finds cash is king, for now - "The Canadian Payment Methods and Trends (CPMT) report released today shows that cash and other paper transactions, such as cheques, are still leading, but in Canada new payment channels are a growing share of the market. These trends reinforce the need for Canada to adapt its systems as the global payments ecosystem changes, which is what Payments Canada is doing with its Modernization Initiative."
  • CanPay Debuts First Debit Payment Solution For The Cannabis Industry - "To ensure privacy and security, all purchases are made using non-identifiable, single-use, and random payment tokens generated in the CanPay App. A consumer who wants to pay with CanPay simply downloads the CanPay App to their smart phone from www.CanPayApp.com, creates a CanPay account and links their checking account, and, upon approval, can begin paying at any participating retailer. The consumer logs into their CanPay app at the time of purchase and scans the random token into the retailer's point of sale device. Funds are electronically transferred directly from the consumer's checking account to the retailer's compliant bank account."
  • ENOUGH IS ENOUGH: NEW DATA SHOWS CONSUMERS WANT GOVERNMENT OUT OF PAYMENTS - "More than six in ten consumers think the Durbin Amendment should be repealed if merchants are not passing the savings on to consumers. A study by the Federal Reserve confirms that merchants are not handing over the savings they receive from the Durbin Amendment. Instead they are pocketing six to eight billion dollars every year since the regulation was implemented—all of which should have been passed along to customers in the form of lower prices."
  • LendingTree Acquires CompareCards - "LendingTree, Inc. (NASDAQ: TREE) announced today that it has acquired Iron Horse Holdings, LLC, which does business under the name CompareCards. CompareCards is a leading online source for side-by-side credit card comparison, comprehensive credit education and credit health management. CompareCards provides consumers with one centralized location for pertinent credit card information needed to find the best card for their needs."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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 16, 2016

Headline News from PaymentsNews.com - November 16, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • GOP, Business Groups Launch Campaign to Constrain CFPB - Wall Street Journal - "Republican lawmakers and business groups are crafting plans to rein in the federal government’s consumer-finance watchdog in the wake of Donald Trump’s presidential victory."
  • Blockchain Capital Dries Up as Big FinTech Deals Decline - Coindesk - "Cash is drying up for bitcoin and blockchain startups amid a broader decline in FinTech funding, according to new research from KPMG and CB Insights. The report, published today, shows that for the third straight quarter, VC investment in startups using distributed ledgers declined."
  • Singapore to Test Digital Currency in Latest Fintech Initiative - Bloomberg - "The “proof-of-concept” project, which also involves the city’s stock exchange and eight banks, is aimed at simplifying the payments process and reducing transaction costs, Managing Director Ravi Menon said in a speech Wednesday. It may include cross-border transactions with the participation of another central bank in the future, he said."
  • UK bank celebrates blockchain contactless payments trial - NFC World - "Metro Bank in the UK has successfully trialled a blockchain retail payment system, allowing consumers to make purchases from merchants equipped with contactless terminals, with merchant and consumer balances updated in real time."
  • EXPLORE: Ecobank Mastercard RBL Bank RBL Bank brings Masterpass QR mobile payments to India - NFC World - "Customers of India’s RBL Bank can now make QR code-based mobile payments using Mastercard’s Masterpass QR mobile payments solution, which has been integrated as a payment option within the bank’s OnGo mobile wallet."
  • Change Coming to Prepaid: Part I - FIS payments blog - "From card makers to processors, any company touching the open-loop prepaid industry will be affected by the recent final ruling by the Consumer Financial Protection Bureau (CFPB), which will take effect on Oct. 1, 2017."

ON THE WIRES

  • Societe Generale Launches a Next-Generation Card Integrating a Dynamic Security Code - "This innovative solution, OT MOTION CODETM, developed by Oberthur Technologies2, consists in replacing the 3-digit security code usually printed on the back of the card with a mini-screen displaying a new "dynamic" code which is refreshed automatically and randomly every hour3. Thus, if the card data gets stolen, the 3-digit security code becomes useless within an hour, preventing fraudsters from re-using the information on e-commerce sites. Designed to help fight cyber crime, this solution is also very simple as it changes nothing on the online purchasing process."
  • VirtusaPolaris Announces Launch of its OpenBank API Accelerator to Advance Financial Technology Innovation - "VirtusaPolaris, the market-facing brand of Virtusa Corporation and Polaris Consulting & Services, Ltd., a leading worldwide provider of information technology (IT) consulting and outsourcing services, today announced the launch of the VirtusaPolaris OpenBank API Accelerator at the inaugural Singapore FinTech Festival. Addressing the market need for rapidly developing solutions for API banking, the OpenBank API Accelerator provides financial services and banking organizations with the tools they need to create new product propositions, add digital-native capabilities, and build new business models, as well as partner with FinTech firms more efficiently and effectively."
  • AGS Transact Technologies Introduces Universal Payments Capabilities to India in Partnership with ACI Worldwide - "AGS Transact Technologies Limited, India’s leading end-to-end payment solutions provider for the banking, retail and petroleum sectors, today announced a strategic alliance with ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions. This alliance will bring ACI’s Universal Payments capabilities to the Indian market via a comprehensive cloud-based managed services offering that integrates cross-channel payments, fraud prevention and transaction management capabilities."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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 15, 2016

Headline News from PaymentsNews.com - November 15, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Apple’s NFC restriction hits mobile payments innovation, Australian banks claim - NFC World - "The group of Australian banks taking on Apple over access to the NFC technology within iPhone handsets says the restriction is not only preventing the introduction of mobile wallet services across multiple platforms but also proving detrimental to continued investment into mobile payment apps."
  • Apple Pay now lets nonprofits take donations - TechCrunch - "Apple announced this morning that its payments service Apple Pay will now support the ability to make donations to nonprofits, starting today in the U.S. This includes both Apple Pay on the web, where it can be integrated into websites’ checkout flow, as well as within mobile applications. The changes are rolling out just ahead of the holidays, something participating nonprofits hope will have a big impact on their ability to raise funds during this time of increased charitable giving."
  • Paytm hits record 5 mn transactions a day - Business Standard - "Following the ban on Rs 500 and Rs 1,000 notes, mobile wallets, debit and credit cards, online money transfers have seen a rise of 200%, industry experts have observed. According to senior executives at Paytm, the Vijay Shekhar Sharma-led company would be able to close the financial year with Rs 24,000 crore worth of transactions processed on the platform."
  • The Nigeria Inter-Bank Settlement System, the Central Bank of Nigeria, Banks and Telecommunication Deepen Financial Inclusion with mCASH - Payments Afrika - "As part of the renewed efforts to further drive the financial inclusion mandates of the Central Bank of Nigeria (CBN), NIBSS in collaboration with Banks and the leading Telecommunications companies have launched mCASH. This is an innovative solution designed to facilitate low-value retail payments, grow e-payments by providing accessible electronic channels to a wider range of users and to further enhance financial inclusion in Nigeria by extending e-payment benefits to Payers and Merchants at the bottom of the pyramid where usage of cash has been predominant."

ON THE WIRES

  • Samsung Pay Announces ‘Samsung Rewards’ Program, First-of-its-Kind Incentives System for a Digital Wallet - "Continuing to drive innovation in the digital wallet experience, the Samsung Pay service today announced a first-of-its-kind incentives program for a mobile payments platform in the U.S.: the “Samsung Rewards” program, coming this week to Samsung Pay. For every transaction users conduct with Samsung Pay, enrollees in Samsung Rewards will earn points, which can eventually be redeemed for a variety of items, including gift cards to some of nation’s most popular retailers, prepaid Samsung Rewards Visa® gift cards, Samsung products and more."
  • US Payments Forum launches new mobile and contactless payments effort - "The U.S. Payments Forum has announced the Mobile and Contactless Payments Working Committee to explore these opportunities and challenges, identify possible approaches, and develop practical implementation guidance and best practices for the variety mobile and contactless payments solutions being implemented in the US."
  • Warply Engage Marketing Cloud With New Product Features, Including Mobile Payments & Mobile Couponing - "Warply is launching its m-couponing and mobile payments add-ons, that provide credit transfer (SEPA) and card payments, in an effort to put its marketing and analytics stack within the last mile of the customer journey. Warply emphasizes on seamless customer experiences at the physical or digital point of sales, with benefits and payments being an essential part of a convenient customer check out process."
  • ProfitStars Introduces RemitPlus Express for Simplified Remittance Processing - "Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its ProfitStars® division today announced a fully hosted version of its proven remittance solution, RemitPlus® Express™."
  • linked2pay Adds Real-Time Payments to Bank Centric Payments - "linked2pay, an award-winning banking and payments technology provider, and Push Payments, a real-time payments platform provider announced today that real-time payments are now an option on the Bank Centric Payments platform. This enables partners on the bank integrated platform to offer both Real-Time and ACH payments, including same day, as their own fully integrated, white-labeled solution."
  • Shift4 is Integrating to the Oracle Payment Interface - "Payment gateway provider Shift4 Corporation today announced that they are writing to the Oracle Payment Interface (OPI), providing fast, secure and reliable payment processing to thousands of merchants who use Oracle's point-of-sale and property management solutions."
  • PayZang announces the launch of a new payment portal featuring new services for SAAS companies and other industries. PayZang also offers a new payment API developed to enhance and improve business finance. - "The new technology offered by PayZang improves the efficiency and overall performance of all businesses. Additionally, the growing SAAS industry now has a valuable opportunity to collaborate with a merchant services provider equipped to handle its unique needs in today's changing commercial landscape. The new API eliminates the need for SAAS and other merchants to become fluent in "geek speak" by providing an advanced technological platform that is user-friendly and easy to implement."
  • Blackhawk Network and Giant Eagle Offer Tips to Make the Most Out of Gift Cards - "Gift cards have been the most requested holiday gift for 10 straight years, according to a recent study by the National Retail Federation[1]. Additionally, a September study by Blackhawk[2]—a pioneer of gift cards, payment tools and rewards delivered via a robust and convenient network—found that the majority of people surveyed (89 percent) plan to purchase at least one gift card this winter and agree that gift cards are easier to purchase than traditional holiday gifts."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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 14, 2016

Headline News from PaymentsNews.com - November 14, 2016

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide!

ON THE WEB

  • Visa and BioConnect work to enable multiple biometrics on mobile apps - NFC World - "Visa is working with biometric identity platform provider BioConnect to enable multiple methods of biometric authentication through a single mobile app. This means that if the consumer’s default biometric authentication method fails, they can use an alternative biometric method to gain access to their device or service."
  • Citi joins mobile pay as consumer adoption reaches highpoint - Mobile Commerce Daily - "Mobile pay is expected to increase at an 80 percent compounded rate annually by 2020, which has prompted a slew of financial institutions, technology providers and retailers to create their own platforms. Citi is the latest to join in the hopes to appeal to consumers who are interested in the convenience and not lag behind with its mobile pay platform that allows users to pay on apps, Web sites and Android users to pay in store."
  • Australia Should Scrap Big-Denomination Bank Notes, UBS Says - Bloomberg - "In Australia, 92 percent of all currency by value is in A$50 ($38) and A$100 notes, the larger of which is “rarely seen,” according to the UBS report. Removing bigger denominations would boost digital payments in a country where the use of cash payments is continuing to fall, the analysts wrote. "
  • A 10-Digit Key Code to Your Private Life: Your Cellphone Number - New York Times - "The cellphone number is more than just a bunch of digits. It is increasingly used as a link to private information maintained by all sorts of companies, including money lenders and social networks. It can be used to monitor and predict what you buy, look for online or even watch on television."

ON THE WIRES

  • US Payments Forum Launches New Mobile and Contactless Payments Effort Under Broadened Payment Focus - "This new working committee comes as part of the U.S. Payments Forum’s expanded priorities to address a variety of new and emerging payments technologies that protect the security of, and enhance opportunities for, payment transactions within the U.S. In addition to contactless and mobile payments and the ongoing migration to chip technology, some of the other topic areas the Forum plans to address include tokenization, card-not-present security solutions, and encryption."
  • Experian's evolution of trended data goes beyond credit scores to predict risk and future financial behavior - "The value in trended data is a combination of the right type of data sources and solutions which interpret what the data reveals. Extended Trade's unique capability is to uncover granular data and provide strategic actions for lenders on how and what to market to consumers. Understand how a consumer spends, their current estimated interest rates, potential profitability and the number of months remaining on their loan term for each trade. This unique data and technology allow lenders to offer consumers the right financial products based on their needs and behaviors."
  • Mobey Forum: Is the Customer Now the Weakest Link in Risk Evaluation of Mobile Financial Services? - "The Risk Review: Mobey Forum’s Guide to Risk Management in Mobile Financial Services contends that, in addition to device and software vulnerabilities, banks must pay particularly close attention to the high risks associated with the criminal targeting of end-users, through social engineering and phishing, for example, together with fraudulent impersonation of customers during the enrollment and installation of new apps and services."
  • Global Payments and American Express Announce Agreement for Processing and Servicing Solutions in the UK - "Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology services, and American Express today announced an agreement that will enable Global Payments to provide enhanced payment acceptance solutions to American Express small merchants in the UK. These technology solutions include payment processing, settlement, reporting, support and statementing services on behalf of American Express."
  • Vesca to be First Out in Japan with Verifone Engage Offering Enhanced Payment Services and Solutions to Merchants - "While a cash-based economy in which cards and other forms of payment amount to comparatively little volume, the local EMV liability shift deadline and the Olympic Games Tokyo coincide in 2020 giving Japanese merchants the opportunity to install the capability to accept multiple payment forms. To bring enhanced world payment standards to Japan, Vesca will offer the Verifone Engage V200c countertop and P400 PIN pad to provide increased speed and security, and an interactive user interface. These devices meet Japan’s EMV requirements and enable merchants to personalize the customer shopping experience with targeted offers and loyalty programs for additional revenue streams at the point of sale (POS)."
  • Bank of the West Announces New Unlimited Cash Back Mastercard with No Annual Fee - "Cardholders Earn 3% Cash Back on Dining, Groceries and Gas; 1% Cash Back on All Other Purchases; Save with Automatic Cash Back Rewards Applied to Statement Each Quarter"

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

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!