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March 20, 2017

Headline News from PaymentsNews.com - March 20, 2017

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

ON THE WEB

  • Wells Fargo’s Checking Account and Credit-Card Openings Keep Falling - Wall Street Journal - "The San Francisco-based bank said checking-account openings fell 43% year-over-year to around 300,000 while new credit-card applications fell 55% from a year-earlier to around 200,000."
  • IBM Goes Live With First Commercial Blockchains - Coindesk - "Previously released in beta and scheduled for official release today, the offering – dubbed "IBM Blockchain" – is formally debuting in front of a group of 20,000 developers at the Interconnect conference. There, its first two major deployments will also be detailed. One of those is a blockchain identity solution built with SecureKey, in which it will power a public-private partnership that saw six Canadian banks invest $27m. In addition, it will be revealed that a Chinese energy company is using the IBM Blockchain to create an exchange for trading carbon credits."
  • The Invisible Selling Machine - Fortune - "From the unlikely setting of Ottawa, Shopify has quietly been powering an e-commerce revolution. Founded in 2004, Shopify (SHOP, +3.08%) has close to 2,000 employees—1,500 of them added in the past two years—and offices in five cities. Revenue in 2016 was $390 million, up almost 100% from 2015; it’s projected to grow 50% this year (it had a $37.2 million operating loss in 2016 but expects to be profitable this year). "
  • The Changing Face of Retail Stores - eMarketer Retail - "A new report from Avanade, a provider of digital cloud services, and EKN Research found that while nearly 80% of retailer professionals worldwide currently believe traditional sales are the primary business function of stores, that will change in the next two to three years. By 2020, traditional sales activities will fall to the bottom of what retailers expect from stores. At the top will be theme-based stores, fulfillment centers and pop-ups."
  • China Bitcoin Rules Would Require Exchanges to Verify Clients’ Identity - Wall Street Journal - "China’s central bank is moving to regulate its domestic bitcoin industry, circulating new guidelines that, if enacted, would require exchanges to verify the identity of clients and adhere to banking regulations."
  • UNIONPAY TO ISSUE NFC AND EMV CARDS IN PAKISTAN - Cards International - "UnionPay International, a wholly-owned subsidiary of China UnionPay, has signed an agreement with Dubai Islamic Bank Pakistan (DIBP) to issue UnionPay QuickPass (NFC) and EMV chip cards in Pakistan. With this agreement, DIBP will become the first Islamic bank in the country to issue UnionPay QuickPass (NFC) enabled cards that will allow customers to make contactless payments."
  • Phishing Scams Even Fool Tech Nerds—Here’s How to Avoid Them - Wired - "The most important thing experts recommend is to listen to your gut. When something feels off, it probably is. But since the whole point of phishing (and its more tailored and targeted counterpart spear phishing) is to get you to do something without raising alarm bells, you need to practice skepticism even when things seems fine. You should be generally reluctant to download attachments and click links, no matter how innocuous they seem or who appears to have sent them."

ON THE WIRES

  • MoneyGram Board of Directors Determines Unsolicited Proposal from Euronet Worldwide Could Reasonably Be Expected to Result in a "Company Superior Proposal" - "MoneyGram (NASDAQ: MGI) announced today that its board of directors, after consultation with its outside legal and financial advisors, has determined that the unsolicited proposal received on March 14, 2017 from Euronet Worldwide, Inc. ("Euronet") (NASDAQ: EEFT) to acquire all of the outstanding shares of MoneyGram Common Stock and Preferred Stock for $15.20 per share in cash on an as-converted basis (the "Euronet Proposal") could reasonably be expected to result in a "Company Superior Proposal" as defined in MoneyGram's merger agreement with Ant Financial Services Group ("Ant Financial")."
  • 3dcart Integrates with Square for eCommerce Payments - "The integration allows for next-day direct deposits, enables the merchant to accept all major credit cards at a single rate, and facilitates integration of reporting between online and offline sales. Merchants will now have the option to seamlessly use 3dcart's full-featured online store platform together with Square's payment gateway."
  • Synchrony Financial to Broaden Cutting Edge Mobile Commerce Solutions for Retailers Through its Acquisition of GPShopper - "The transaction further demonstrates Synchrony Financial’s commitment to bringing its partners enhanced digital offerings supported by advanced mobile application development and robust technology, data and analytics. Adding GPShopper’s mobile development expertise will be an integral part of Synchrony Financial’s efforts to further expand its mobile engagement capabilities. "
  • Mitek to Enable B2B Mobile Deposits on Ariba® Network - "Mitek (NASDAQ:MITK) (www.miteksystems.com), a global leader in mobile capture and identity verification software solutions, today announced that it intends to enable B2B mobile payments on the Ariba® Network, the world's largest, most global business-to-business trading platform."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out 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!

March 17, 2017

Headline News from PaymentsNews.com - March 17, 2017

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

ON THE WEB

  • Amazon adds Alexa to its main shopping app - TechCrunch - "Amazon’s virtual assistant just got a much wider audience. The company announced it’s integrating Alexa into its main shopping app on iPhone, starting today with a full rollout expected by next week. The assistant can do more than just provide a voice interface to Amazon’s retail store, however – it can also control your smart home, play your music or Kindle books, answer questions, check the news and weather, and take advantage of Alexa’s extensions, known as Skills."
  • Koho, a mobile-only suite of financial services for millennials, launches in Canada - TechCrunch - "Koho, it should be made clear, is not a bank (it doesn’t have a license), but it has partnered with Canadian bank the Peoples Trust Company in a white-label deal, along with Visa, to provide a range of services to its customers including a “smart spending account”, a mobile app, and a Koho Visa Card."
  • Are a third of Venmo transactions right now illegal gambling payments? (Chart) - Quartz
  • Companies Face Growing Shortage of Security Personnel - Wall Street Journal CIO Journal blog - "Companies will face a shortage of 1.8 million qualified information security personnel by 2022, up 20% from a gap of 1.5 million in 2015, according to a survey released in February by Booz Allen Hamilton Holding Corp. and ISC2, a cybersecurity education group."
  • From Seattle it came: How Jeff Bezos is taking over the world - Boston Globe - "I’VE BEEN Bezos-ified. Chances are, you have, too. Jeff Bezos, the founder of Amazon.com, has infiltrated every corner of my day. "

ON THE WIRES

  • Chamber of Digital Commerce Forms the Blockchain Intellectual Property Council - "The Chamber of Digital Commerce has formed the Blockchain Intellectual Property Council (BIPC), an initiative to promote innovation in blockchain and distributed ledger technologies (DLT) by addressing intellectual property issues. The council will help balance the protection of proprietary information with the openness necessary for innovation."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out 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!

March 16, 2017

Headline News from PaymentsNews.com - March 16, 2017

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

ON THE WEB

  • How the Internet Is Saving Culture, Not Killing It - New York Times - "You’ve already heard about the rise of subscription-based media platforms — things like Amazon Prime, Netflix, Hulu, HBO, Spotify and Apple Music. But people are also paying for smaller-audience and less-mainstream-friendly content. They are subscribing to podcasters, comedians, zany YouTube stars, novelists and comic book artists. They are even paying for news."
  • Vantiv Beats FirstData as Largest U.S. Merchant Acquirer - Bank Innovation - "Payments services provider Vantiv becomes the largest U.S. merchant acquirer, beating FirstData for the first time in 20 years. According to Nilson Report, released this morning, Vantiv increased purchase transactions to 21.2 billion in 2016, up almost 20% from the year prior. FirstData came in second, logging in 19.8 billion transactions."
  • Bank Overdraft-Fee Revenue Bounces Back - Wall Street Journal - "Banks and other financial firms in 2016 generated the highest level of fees in seven years related to overdrafts on checking accounts, marking a turnaround for a charge crisis-era regulation tried to rein in."
  • Australian banks brand non-NFC alternatives to Apple Pay ‘unrealistic’ - NFC World - "Relying on Android or alternatives to NFC for successful mobile payment services in a country with one of the world’s largest iPhone market shares and high contactless card use is “unrealistic”, the group of Australian banks seeking access to the iPhone’s NFC functionality say in their latest submission to the Australian Competition and Consumer Commission (ACCC)."
  • Samsung's New S8 to Adopt Facial Recognition for Payments - Bloomberg - "With mobile security taking on greater importance among consumers, the Korean company has been trying to bolster its facial detection rate over the years, the people said. Iris and facial detection capabilities complement each other: phones can rely on iris detection when there’s not enough ambient light to recognize facial features. But the smartphone unlocks faster and with more accuracy when it comes to recognizing faces."
  • McDonald's, late to mobile ordering, seeks to avoid pitfalls - Reuters - "McDonald's Corp has begun testing its long-awaited U.S. mobile ordering app, with the goal of avoiding the kinds of service hiccups that have haunted digital debuts by companies such as Starbucks Corp."
  • Paytm launches digital wallet business in Canada - India Retailing - "Users in Canada will now be able to pay for their cell phone, cable, internet, electricity and water bills. In addition to this, users will also be able to pay for their insurance and property taxes by using the new Paytm Canada app. It is available on both Android and iOS in Canada."
  • Illinois Government Unveils Expansive Blockchain Support Plan - Coindesk - "Beyond just a play to streamline bureaucracy, the Illinois Blockchain Initiative's plan is designed to turn the native home of derivatives and the center of the US mercantile exchange into a fountainhead from which other states might also work to adopt blockchain."
  • Mobile Coupon Usage Up, But Traditional Formats Still Preferred - MarketingCharts - "More consumers say they prefer to get coupons in the mail (44%) than through any other method, according to a study from Valassis, which surveyed 1,000 US adults."
  • CleverIS announces end-to-end payment test solution - SD Times - "Unlike any other solution on the market, the CleverIS Testing solution automatically generates payment transactions at the interval and frequency required and from any channel such as POS, ATM, terminals, XML and more for Merchants, Acquirer Banks or Processors, Card Networks and Issuer Banks. The end-to-end payment test solution fulfills the numerous requirements of each stackholder involved in the payment-authorization lifecycle. The CleverIS product and services solutions are available on-premises or as-a-service."
  • Visa's new contactless payment card is a pair of sunglasses - The Verge - "Visa announced today that it will be starting a new pilot program of contactless payment-enabled sunglasses. The glasses, pictured above, appear to be a regular pair of shades — with the addition of a small contactless card that allows the sunglasses to work as a contactless payment method."

ON THE WIRES

  • First Data Strengthens eCommerce Position with Acquisition of Acculynk - "First Data (NYSE: FDC), a global leader in commerce-enabling technology, today announced that it has entered into an agreement to acquire Acculynk, a leading Atlanta-based technology company that delivers eCommerce solutions for debit card acceptance. The acquisition expands First Data’s robust eCommerce solution suite by providing access to Acculynk’s PaySecure® debit routing technology and its range of other services for businesses of all sizes around the world."
  • Global Payments Launches EdgeExpress Cloud, a New Platform Allowing Developers to Integrate Advanced Payment Solutions - "Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology services, is pleased to announce that OpenEdge, its integrated payments division, has launched EdgeExpress Cloud. This new platform is designed to streamline payments integration with SaaS, Deployed, Mobile and eCommerce software applications. Among the simplest payment integration platforms on the market and available exclusively to Global Payments software partners, EdgeExpress Cloud includes a feature-rich API that reduces development cycles and enables faster delivery of software solutions to the end merchant customer."
  • Digital River World Payments Adds In-Country Payment Processing in Hong Kong, Singapore and Australia; Expands in Europe - "Digital River World Payments, a global payments service provider, announced it is working with First Data, a global leader in commerce-enabling technology, to offer online merchants a full-service, turn-key solution for processing in-country payments in Hong Kong, Singapore and Australia. By adopting First Data’s global acquiring platform, Digital River World Payments can now help merchants with local entities in these regions increase their credit card authorization rates and global reach. Digital River World Payments is also expanding its existing in-country payment processing capabilities in Europe by adding First Data to its growing network of payments partners."
  • Complete Auto Care and Fuel-Ups Available with New Synchrony Car Care™ Card - "The new Synchrony Car Care card replaces the CarCareONE® card, leveraging the existing network that has helped millions of consumers finance automotive aftermarket parts and services for more than three decades. The new program expands utility and enhances benefits, while building on the same core value proposition of special financing for purchases of $199 or more.2 It is evolving to meet the needs of drivers for a dedicated payment solution for everyday gas purchases and an expanded acceptance network for both planned and unexpected automotive expenses."
  • WePay Doubles Down on Apple Pay, Android Pay Mobile Revenue Drivers - "WePay, the leading provider of integrated payments for online platforms including Constant Contact, GoFundMe, and Zoho, today announced that its customers can now use Apple Pay on the Web and Google's Android Pay on the Web to generate dramatically more revenue on their sites."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out 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!

March 15, 2017

Headline News from PaymentsNews.com - March 15, 2017

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

ON THE WEB

  • Euronet’s $1 Billion MoneyGram Bid Could Prompt Bidding War - New York Times - "The financial transaction provider Euronet Worldwide said on Tuesday that it had made an unsolicited bid to acquire MoneyGram for about $1 billion in cash, igniting a potential bidding war for the money-transfer firm."
  • Send and request money in your Gmail app on Android - Google blog - "Sending money in Gmail is as easy as sending any other attachment. Just tap on the attachment icon and choose whether you want to send or request money. Recipients are able to receive or request money right from the email itself—without having to install another payment app. They can even arrange for money they receive to go directly into their bank account. Either way, it’s completely free for both of you."
  • Digital food ordering accounts for 1.9B visits yearly: report - Mobile Commerce Daily - "The market for digital food service ordering has now reached a total 1.9 billion food service visits annually. "
  • How can API standardisation be achieved in the context of PSD2? - Payments Cards & Mobile - "As all PSPs prepare for the implementation of PSD2, how can interoperability between APIs be achieved to optimise investment costs for all stakeholders (PSPs, e-merchants, Third party Payment Providers or TPPs), and ensure a smooth implementation of PSD2?"
  • Tag Heuer unveils connected watch range with Android Pay - NFC World - "Luxury watchmaker Tag Heuer has unveiled the second generation of its connected watch range, powered by Google’s Android Wear 2.0 operating system and offering host card emulation (HCE) payments through Android Pay."
  • Visa partners with Stubhub to get young consumers into mobile payments - Mobile Commerce Daily - "The partnership will see Visa integrating its mobile payments system into Stubhub’s mobile platform in an effort to drive up ticketing sales and get more Visa users accustomed to mobile payments. The partnership will hopefully enrich both brands as they attempt to get more customers interested in mobile payments."
  • PAYMENT DATA SYSTEMS TO SNAP UP SINGULAR PAYMENTS - Cards International - "Payment Data Systems, an integrated electronic payment solutions provider, has agreed to acquire Singular Payments, a Fintech payments provider, for an undisclosed sum. Singular Payments processes payments for merchants in healthcare and other niche verticals across the US. It also provides a simple, flat rate pricing model which saves merchants both time and money when accepting credit and debit payments. "

ON THE WIRES

  • Volante Technologies enables accelerated implementations of global real-time payments initiatives with VolPay Hub: RTP Suite - "Volante Technologies, a global leader in the provision of payments and financial message integration, processing and orchestration software, today announces its ability to help banks embrace real-time payments in the US and in other countries around the globe with its VolPay Hub: RTP Suite. The new solution launches with its first of several RTP processors -- the TCH RTP Processor Module, to support The Clearing House RTP Initiative. Volante's solution is one of the industry's most advanced to date, and is to be piloted by a top ten US-based bank and TCH."
  • CARDFREE Research Shows Mobile Wallet Apps Increase Frequency by 2x - "CARDFREE, the leading mobile wallet provider to large merchants, announced today that research across its platform shows that mobile consumers increase their visit frequency, ultimately doubling visits before stabilizing out to the new norm. In examining visit patterns across users, CARDFREE research found that time between visits would decrease with each successive app use until about the 6th visit where users would normalize. On average, consumers who started out at a frequency of twice a month would increase visits to weekly and continue to maintain the new frequency level."
  • 41 million merchants worldwide choose UnionPay - "Latest data show that more than 41 million merchants and over 2 million ATMs across 160 countries and regions accept UnionPay cards. Over 10 million online merchants based outside mainland China support UnionPay Online Payment."
  • Identity fraud reaches record levels - "Cifas, the UK’s leading fraud prevention service, has released new figures showing that identity fraud has hit the highest levels ever recorded. A record 172,919 identity frauds were recorded in 2016 more than in any other previous year. Identity fraud now represents over half of all fraud recorded by the UK’s not-for-profit fraud data sharing organisation (53.3% of all frauds recorded to Cifas), of which 88% was perpetrated online. "
  • Sionic Mobile, Customer Engagement Technologies Partner to Provide Mobile Loyalty and Payments to Underbanked - "Sionic Mobile and Customer Engagement Technologies (CET) today announced a partnership to provide mobile loyalty and instant universal rewards to the underbanked. PaySwag, a mobile app by CET that works on improving the payment experience for the underbanked, is integrating Sionic Mobile’s ION Commerce Engine™ (ICE) to enable the loading of cash into a mobile wallet, allowing app users to pay for purchases with their phones and instantly earn rewards via the Mobile Rewards MarketplaceTM which includes more than 100,000 retail locations. Additionally, the PaySwag-ICE integration will utilize credit and debit card processing through J.P. Morgan Chase."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out 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!

March 14, 2017

Headline News from PaymentsNews.com - March 14, 2017

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

ON THE WEB

  • Euronet Bids to Take Over MoneyGram, Topping Jack Ma's Ant - Bloomberg - "Euronet is offering $15.20 for each share of MoneyGram and would assume $940 million of the company’s debt, according to a statement Tuesday. The deal would value MoneyGram, a U.S. money-transfer service with a network of 2.4 billion bank and mobile accounts, at more than $1 billion and is a 15 percent premium over Ant’s proposal, Euronet said."
  • Some Data from Chase May Show How the Fledgling Zelle Could Outrun PayPal’s Venmo - Digital Transactions News - "But while that kind of growth has all eyes riveted on Venmo, an older, less celebrated P2P product is actually well ahead of the PayPal service and racking up respectable growth of its own. Chase disclosed last week at an investor day presentation that its QuickPay app processed $28 billion last year, up 38% over 2015, on 94 million transactions. While Venmo is undeniably enjoying sizzling growth, its dollar volume in 2016 came to $17.6 billion, less than two-thirds of QuickPay’s total. Chase also revealed that 4 million households are using QuickPay, a 30% increase in one year."
  • Bitcoin Miners Signal Revolt Amid Sluggish Blockchain - Bloomberg - "While speculators continue to push the value of the digital money to record highs against the U.S. dollar, the system that verifies bitcoin transactions -- known as the blockchain -- is more backlogged than at any point in the currency’s eight-year history. The number of transactions awaiting verification is up more than fivefold from a year ago, and the jam is forcing users to pay increasingly high fees to speed up confirmations, which in some cases is making bitcoin more expensive to use than Visa Inc. or PayPal Holdings Inc."
  • Instant payments: lessons learned from early adopters - Payments Cards & Mobile - "The ability to offer instant payments has become a necessity for banks around the world as they keep up with customer expectations and set themselves up strategically for the future."
  • Boston Fed Team Puts Mobile Payments to the Test - FRB Boston - "While consumer awareness of mobile and digital wallets is growing, many are still unfamiliar with how wallets actually work and have yet to try making a mobile payment. Several critical factors help enable mobile payments and foster greater consumer usage. For example, to use a “Pay” wallet, i.e., Apple Pay, Android Pay, or Samsung Pay, consumers must have near field communication- (NFC) enabled mobile phones, while digital wallets, such as Visa Checkout and Masterpass, are device-agnostic. Consumers must also have credit or debit cards that their issuing banks support for the specific Pay wallet. Finally, consumers need retail locations to use mobile and digital wallets, so merchant acceptance is key."

ON THE WIRES

  • Industry Bodies Align to Standardize On-Device NFC Service Management - "ETSI, GlobalPlatform and the NFC Forum today detailed a standardized approach to implementing and managing NFC services across all technologies and platforms. The shared work initiative explains how to ensure that NFC services successfully coexist within a device and operate as intended."
  • E la Carte Announces PrestoPrime™ EMV - The Best Pay-at-Table Experience Available - "E la Carte, Inc., creators of the Presto™ System for full-service restaurants, today announced its state-of-the-art next generation product, the PrestoPrime EMV Terminal. The PrestoPrime EMV Terminal is the best pay-at-table experience available on the market, with the highest levels of security available along with future-proof capability and unparalleled guest and server ease-of-use."
  • ShopKeep Acquires ChowBOT™ Online Order and Delivery Solution - "ShopKeep, the cloud-based technology solution that transforms an iPad into a smart, connected cash register that is used by more than 23,000 small businesses, today announced that it has acquired the online ordering software, ChowBOT™, from Meerchant™. The acquisition serves to enable online ordering, payment and delivery options for ShopKeep’s 8,500 and growing quick-serve (QSR) and full service restaurant and bars (FSRB)."
  • Payza India Launches Online Household Bills Payment App - "Payza, a leading global online payment platform, announced today that it has launched an online Utility Bill Payments service for Indian customers. Payza has teamed up with India's most popular household utility and telecommunications service providers for the initial launch of the program, a list that includes Airtel, Tata Sky, Tata Docomo, Vodafone, Reliance, DishTV, MTNL, BSNL, and many others."
  • Payix® Launches as New Company Providing Mobile Collections App and Payment Processing Solutions to U.S. Lenders and Auto Dealers - "Payix® announced it has launched as a new company providing collections tools, payment processing resources and business intelligence solutions to U.S. lenders and auto dealers. Offering white-label services and real-time loan management system (LMS) integration, the fintech firm helps its clients connect with their borrowers and improve their ability to collect payments – especially with Payix’s intuitive, engaging and affordable mobile collections application."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out 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!

March 13, 2017

Headline News from PaymentsNews.com - March 13, 2017

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

ON THE WEB

  • D+H, Misys Merger Will Create $2B Fintech Company - bank innovation - "Vista Equity Partners will acquire Canadian financial services provider D+H, and merge it with Misys — financial software provider — the company announced today. The merger will create, what appears to be, a mega fintech, serving 48 of the world’s top 50 banks, among other clients, and generating about $2 billion in annual revenue — or two unicorns-worth, in startup language."
  • Fedwire and Chips to align with Swift gpi - Finextra - "Swift has taken a big step to realising one of the primary goals of its global payment initiative (gpi) by announcing an agreement with the Federal Reserve Banks and The Clearing House to support end-to-end payments tracking across their wire services."
  • Credit Reports to Exclude Certain Negative Information, Boosting FICO Scores - Wall Street Journal - "The decision by the three major credit-reporting firms— Equifax Inc., Experian PLC and TransUnion—could help boost credit scores for millions of U.S. consumers, but could pose risks for lenders. The reports and scores often help decide how much consumers can borrow for a new house or car as well as determine their credit-card spending limit."
  • Phone Scams and Phishing - FRB Atlanta Take on Payments blog - "While phishing attempts through electronic channels are undoubtedly up, the telephone call remains a valuable tool for fraudsters. The Federal Trade Commission (FTC) just released its 2016 Consumer Sentinel Network Data Book and revealed that of the fraud-related complaints it received in 2016 with the method of initial contact reported, 77 percent of the respondents claimed that initial contact was made via telephone. Only 8 percent reported email as the method of initial contact. "
  • Wirecard To Buy Citi's Merchant Acquiring Business In 11 Markets - Quick Facts - Business Insider - "Wirecard AG (WRCDF.PK) announced an agreement with Citigroup subsidiaries to purchase the customer portfolio of Citi's merchant acquiring business in 11 markets in Asia Pacific."
  • MSC Cruises passengers to get onboard mobile payments and tailored holidays with NFC, beacons and biometrics - NFC World - "The MSC for Me service will make its debut on the MSC Meraviglia in June, which will be fitted with “16,000 points of connectivity, 700 digital access points, 358 interactive screens and 2,244 cabins with RFID/NFC access technology,” which will allow guests to use interactive bracelets for entry."
  • Say Hello to the Multi-Blockchain Business Model - Coindesk - "Over the past six months, there have been over 25 investments in blockchain startups. Five have been for amounts greater than $10m. Here's the interesting part: all but one of the recent large investments have been in startups with a multi-blockchain business model, whereas a year ago, none of them were."
  • 53% Of Manufacturers Use Marketplaces To Avoid Channel Conflict - Retail Touch Points - "B2B manufacturers are often cautious about establishing their own e-Commerce presence, due to fears about alienating retailers and other distributors. To avoid these channel conflicts, more than half (53%) of suppliers use third-party marketplaces to foster direct connections with consumers, according to a study conducted by Forrester Consulting and commissioned by Mirakl and SAP Hybris."

ON THE WIRES

  • RBC first Canadian bank to launch Interac e-Transfer® using Siri - "Sending money with RBC is really as simple as it sounds. Once you give the voice command, the Siri feature will confirm the name from your payee list and the RBC Mobile app automatically debits your chequing account and sends the payment. The payment is secure and protected by TouchID."
  • CardConnect Partners with Task Retail Technology to Provide Single Source Enterprise Platform - "Through this partnership, Task has integrated its platform with CardConnect’s latest product, Bolt P2PE, a plug-and-play solution for card-present transactions, providing customers with secure payment acceptance, advanced merchant services, and PCI-validated point-to-point encryption (P2PE) and tokenization for complete data breach protection. In addition to in-store services, the integration extends to e-commerce and online ordering."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out 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!

March 10, 2017

Headline News from PaymentsNews.com - March 10, 2017

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

ON THE WEB

  • SEC shoots down Winklevii bitcoin ETF - Axios - "The U.S. Securities and Exchange Commission today decided not to mainstream bitcoin, by ruling that it will not permit the public listing of an ETF (exchange traded fund) that would have effectively allowed people to buy and sell the digital currency like stock."
  • Smart Card Alliance reveals new name and focus - Mobile Payments Today - "The Smart Card Alliance, a nonprofit long known for its advocacy of smart card technology, is expanding its charter to include a broader range of security and privacy-enhancing technologies. Reflecting its expanded mission, the Smart Card Alliance is changing its name to the Secure Technology Alliance, according to a press release."
  • Korea’s top financial services startup lands $48M from PayPal and others - TechCrunch - "Viva Republica, the company behind Korean financial services app Toss, has closed a $48 million Series C funding round that includes a strategic investment from payment giant PayPal. "
  • VeriFone Looks to the Future as the U.S. EMV Conversion Takes a Breather - Digital Transactions News - "One of the opportunities chief executive Paul Galant announced was a new portal for third-party software developers to create applications that run on VeriFone platforms. He also said VeriFone will place its fuel-pump media business in a joint venture with Detroit-based Destination Media Inc.’s Gas Station TV."
  • Bitcoin Exchange Bitso Trials Canada-Mexico Remittance Service - Coindesk - "Mexican bitcoin exchange Bitso has been working with Canadian payments startup Paycase to create a new remittance corridor between the two countries."
  • Back-to-Basics Weekend Reading: The Foundations of Blockchain - All Things Distributed blog - "When we look at the foundation of blockchain, there are three papers from the nineties that describe different components whose principles found its way into blockchain. "

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16 - 18. Come for the two day boot camp or attend all three days. Check out 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!

March 09, 2017

Headline News from PaymentsNews.com - March 9, 2017

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

ON THE WEB

  • Alphabet Leads Investment in U.K. Payments Startup Currencycloud - Bloomberg - "Similar to competitors such as San Francisco-based Stripe, Currencycloud provides the technical infrastructure that powers cross-border payments for banks and apps. Created in 2012, Currencycloud’s customers include the foreign exchange firm Travelex Ltd., e-commerce company Klarna AB and the lender Standard Bank Group. "
  • Veem, formerly Align Commerce, gets $24M from GV, others for its Venmo for SMBs - TechCrunch - "Align Commerce, which today is rebranding to Veem, is today announcing that it has raised a $24 million round led by strategic investor National Australia Bank (NAB) Ventures, with participation also from GV (Google Ventures), Softbank’s SBI Investment Co., Ltd., Kleiner Perkins Caufield Byers and Silicon Valley Bank."
  • Grocery heavyweights expand delivery services - Wall Street Journal - "Grocery heavyweights including Wal-Mart Stores, Inc., Kroger Co. and Meijer, Inc. are broadening delivery areas across the country and the ways in which customers get their groceries. Meijer said Thursday that it will start delivering groceries later this month in the six Midwestern states—Illinois, Indiana, Kentucky, Michigan, Ohio and Wisconsin—where its 230 stores are located."
  • New S3 Authentication Suite Offers FIDO Server Supporting UAF and U2F - Mobile ID World - "In a statement, Nok Nok Labs CEO Phillip Dunkelberger said that the upgraded solution is the response to “the need for a universal FIDO Server that supports any FIDO authenticator or protocol in the market”. The S3 Suite supports a number of biometric modalities including fingerprint, voice, and iris, and its new FIDO Server supports both the UAF and U2F FIDO standards."
  • BIS Report: Wide-Scale DLT Use 'Years Away' - Coindesk - ""The first wide-scale use of distributed ledgers in payments is likely to be years away, as technological, legal and other hurdles will need to be overcome," according to the work."
  • KERV WEARABLES INTRODUCES CONTACTLESS PAYMENT RING - Cards International - "Kerv Wearables has launched its contactless payment ring after two years of development and fundraising at the annual Wearable Technology Show in London."

ON THE WIRES

  • Inside Secure HCE Payment Platform Achieves Full Certification by Both MasterCard and Visa - "Inside Secure (Paris:INSD) (Euronext: INSD), at the heart of security solutions for mobile and connected devices, is the first provider of host card emulation (HCE) software platform to obtain both functional and security accreditation by MasterCard and Visa."
  • CashStar Announces Record Revenue for 2016 - "CashStar, the industry-leading provider of prepaid commerce solutions, today announced record revenues for 2016, fueled by multiple product and platform innovations and continued client and partner growth. CashStar generated nearly $2 billion in gross merchant load for 2016."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16 - 18. Come for the two day boot camp or attend all three days. Check out 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!

March 08, 2017

Headline News from PaymentsNews.com - March 8, 2017

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

ON THE WEB

  • Consumers take a credit-card breather - Wall Street Journal - "Although consumer card balances in January were up 6% from a year earlier, the amount of debt outstanding dropped slightly from December, according to data released by the Federal Reserve on Tuesday. That halted 10 months of consecutive increases."
  • Digital Remittances and Global Financial Health - PayPal blog - "In 2015, there were 244 million international immigrants – the highest number ever recorded and up 12 million from 2013.[i] The 2016 numbers will no doubt be higher. Many immigrants move to new countries in search of a better life. Some are escaping poverty, war, or famine; others are seeking an education; and some simply want to start anew. These immigrants often sign a social contract with their families to send back money – remittances – for support or to invest in local opportunities. "
  • Korea to run pilot service for credit card-based authentication - Korea Herald - Under the program managed by the Korea Communications Commission and set to begin later this month, the new service grants Internet users the ability to verify their personal information using Near Field Communication-tagged credit cards. If users place their NFC-enabled credit cards on the back of their smartphones, the smartphones can read the personal information, the KCC said. During the process, credit card firms and credit appraisal firms share the information to prove whether the information is genuine."
  • KOFAX DEPLOYS MOBILE CAPTURE TECHNOLOGY FOR MAJOR BANK - Cards International - "Kofax, a software solution provider, has announced that a top 10 global bank has deployed its Mobile Credit and Debit Card Framework and Mobile Capture Platform to allow customers to activate new credit cards by clicking a picture of the card using the bank’s mobile app. The bank’s app now enables users to activate a new embossed or non-embossed credit card by snapping a picture of the card. It automatically extracts the credit card account number and expiry date to accelerate the activation process."
  • Mobile wallet users want more incentives, new study says - Banking Technology - "Paybefore (Banking Technology‘s sister publication) reports that a survey of 1,505 consumers found that 25% of those who have an eligible smartphone use mobile pay services.Those consumers tend to be “employed, affluent and college educated,” the report says."
  • Opinion: The tech behind Bitcoin could reinvent cybersecurity - Christian Science Monitor - "Blockchains track, record, and secure transactions made within the virtual currency Bitcoin. They can also help defend many critical systems from devastating cyberattacks."

ON THE WIRES

  • False positives spur heavy losses for merchants - "Nearly a third (30 percent) of all transactions declined due to suspected fraud are believed to be legitimate, according to a new eBook from Vesta Corporation, a global leader in integrated risk and payment solutions. These "false positives" occur when merchant fraud control systems are tuned so tightly that they unintentionally block legitimate shopping activity."
  • Blackhawk Network Expands International Digital Incentives and Rewards Card Portfolio - "Blackhawk Network—a pioneer of gift cards, payments tools and rewards delivered via a robust and convenient network—today announced the expansion of its digital open- and closed-loop gift card incentive and rewards portfolio to better meet the needs of organizations that motivate and reward consumers, employees and partners around the world. "

GLENBROOK PAYMENTS EDUCATION EVENTS

The next Glenbrook Payments Boot Camp is March 7-8, 2017 in San Jose, CA. On March 9, still in San Jose, will be our Digital Payments Insight Workshop. Following that, our next public Boot Camp and Insight Workshop combination will be in New York City in April followed by Atlanta in May. Check out 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!

March 07, 2017

Headline News from PaymentsNews.com - March 7, 2017

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

ON THE WEB

  • Payments Giant Verifone Investigating Breach - Krebs on Security - "Credit and debit card payments giant Verifone [NYSE: PAY] is investigating a breach of its internal computer networks that appears to have impacted a number of companies running its point-of-sale solutions, according to sources. Verifone says the extent of the breach was limited to its corporate network and that its payment services network was not impacted."
  • Samsung Pay goes live in India, works with Paytm wallet too - SAMMOBILE - "After teasing the launch of Samsung Pay in India last month and then letting users sign up for an early access program last week, Samsung has launched its mobile payment service in the country today. If you signed up for the early access program, you should now be able to set up your Samsung Pay account and start using it for payments."
  • Belgium becomes tenth country to go live with Android Pay - NFC World - "Android Pay has launched in Belgium with support for Mastercard and Visa credit cards from BNP Paribas Fortis, Hello Bank! and Fintro, with debit cards issued by the three banks plus CBC/KBC expected to be supported soon. The mobile payment service is available at more than 85,000 retail locations — including Carrefour, McDonald’s, Media Markt and H&M — that accept contactless payments."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

The next Glenbrook Payments Boot Camp is March 7-8, 2017 in San Jose, CA. On March 9, still in San Jose, will be our Digital Payments Insight Workshop. Following that, our next public Boot Camp and Insight Workshop combination will be in New York City in April followed by Atlanta in May. Check out 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!

March 06, 2017

Headline News from PaymentsNews.com - March 6, 2017

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

ON THE WEB

  • American Express targets Uber users with new Platinum benefits - Mobile Commerce Daily - "Platinum Card members will be receiving up to $200 in annual Uber credits for rides that they can redeem within the ride-sharing application. Along with the Uber integration, Amex is looking to add a lounge-finder feature within its app to find its lounges at airports."
  • UNIONPAY PARTNERS WITH WANDA GROUP TO EXPAND QUICKPASS ACCESS IN CHINA - Cards International - "UnionPay and Wanda Group will jointly develop a UnionPay cardholder service system and make various applications, such as UnionPay QuickPass and other ‘Physical + Internet’ payment applications. The new services will be available at Wanda’s properties, including commercial centres, department stores, supermarkets, theatres, hotels, theme parks and hospitals. Wanda Group said that the applications aim to offer consumers with all-new experiences, including precise notification of promotional information, mutual recognition of points and financial support for various scenarios."
  • LendUp Lands $100 Million Credit Facility - Finovate - "Payday loan alternative startup, LendUp, announced this week it has received a $100 million credit facility. The financing comes from the company’s long-time partner, Victory Park Capital, and will be used to fund future loan growth. The San Francisco-based startup’s combined debt and equity now totals $325 million."
  • Machine Learning and Knowledge Discovery - Wall Street Journal CIO Journal - "After decades of promise and hype, artificial intelligence is finally achieving an inflection point of market success. It’s now seemingly everywhere In the past few years, the necessary ingredients have come together to propel AI forward beyond the research labs into the marketplace: huge amounts of data; powerful, inexpensive computer technologies; and the advanced algorithms needed to analyze and extract insights from those oceans of data. "
  • Ransomware Onslaught Continues: Old Foes, New Defenses - CU Info Security - "Crypto-locking ransomware, which forcibly encrypts sensitive information on a system, then demands cryptocurrency for a promised decryption key, offers remote attackers a relatively low-cost, high-reward scheme, and they keep doubling down on related attacks. As the EU's law enforcement intelligence agency Europol noted in its Internet Organized Crime Assessment report last year, "cryptoware (encrypting ransomware) has become the most prominent malware threat, overshadowing data stealing malware and banking Trojans.""

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

The next Glenbrook Payments Boot Camp is March 7-8, 2017 in San Jose, CA. On March 9, still in San Jose, will be our Digital Payments Insight Workshop. Following that, our next public Boot Camp and Insight Workshop combination will be in New York City in April followed by Atlanta in May. Check out 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!

March 03, 2017

Headline News from PaymentsNews.com - March 3, 2017

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

ON THE WEB

  • Capital One Adds ‘Muscle’ to Machine Learning Effort - Wall Street Journal CIO Journal - "Capital One Financial Corp. is launching a formal initiative to study ways that machine learning can improve customer experience. A new Machine Learning Center of Excellence, staffed by employees across Capital One offices in New York, Virginia and Washington, D.C., is part of a larger, company-wide effort that includes recruiting AI talent."
  • Millennial lender Upstart just raised $32.5 million to license its tech to other companies - TechCrunch - "Upstart, a nearly five-year-old online lending company that prides itself on quickly identifying people who are less likely to default on money leant them, has raised $32.5 million in fresh funding that brings its total funding to date to around $85 million. Partly, the company plans to use the capital to further fuel its current growth trajectory. In fact, according to CEO (and former president of Google Enterprise) Dave Girouard, Upstart expects to turn profitable this year."
  • PayPal, Starbucks top consumers' mobile payments preferences, study says - Mobile Payments Today - "New mobile research from Parks Associates shows that nearly 20 percent of U.S. smartphone users have used a mobile payment app at a retail location, according to a press release about the report."
  • Paytm E-commerce gets $200 million from Alibaba, SAIF Partners - Mint - "Chinese e-commerce major Alibaba Group Holding Ltd, along with investment firm SAIF Partners, are set to invest $200 million in Paytm’s online marketplace unit."
  • With McDonald’s Saying ‘I’m Lovin’ It’ to Order Ahead, Mobile Payments Could Get a Boost - Digital Transactions News - "Mobile order-ahead-and-pay functionality has been adopted lately by restaurants ranging from Starbucks Corp. to Chick-fil-A. But with the announcement on Wednesday by McDonald’s Corp. that it will offer the service on its mobile app, the world’s largest hamburger chain could finally push mobile payments into the consumer mainstream."
  • Et tu, Costco? Is There Any Hope for Bricks-and-Mortar Retail? - Barron's - "Much of the blame could be placed on Amazon.com’s success in stealing share from the traditional retailers. And it’s possible the company is just getting started. In a note Tuesday, Cowen analyst John Blackledge wrote that “US e-Commerce disruption is still early days.”"
  • Messenger Platform 1.4 Brings Even More Tools to Build Great Experiences - facebook for developers - "Payments pre-checkout event: Developers can optionally subscribe to this pre-checkout webhook event that will notify developers of when the user is checking out. This will allow developers to make updates to their final price (e.g., including shipping costs) prior to payment (available to native payments beta developers only). Learn more."

ON THE WIRES

  • Ally Bank Launches Debit Card Controls Mobile Application - "The Ally Card Controls™ app features the immediate ability to turn a debit card on or off, set location aware controls, transaction types, merchant types and amounts with a single touch. The app is available to both checking and money market account customers with active debit cards and Android® or Apple® devices. Customers can access the card controls by logging in to the Ally Bank mobile app and tapping on settings in the main menu."
  • iguama Expands Cross-Border e-Commerce Shopping Mall Into Mexico - "Cross-border shopping leader iguama announced it has expanded its online shopping mall operations into Mexico, securing a larger share of e-commerce space which now totals seven countries in Latin America. The launch allows customers in Mexico access to iguama's online retail partners, which include Overstock.com, Target, Juicy Couture, BCBG and many more."

GLENBROOK PAYMENTS EDUCATION EVENTS

The next Glenbrook Payments Boot Camp is March 7-8, 2017 in San Jose, CA. On March 9, still in San Jose, will be our Digital Payments Insight Workshop. Following that, our next public Boot Camp and Insight Workshop combination will be in New York City in April followed by Atlanta in May. Check out 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!

March 02, 2017

Headline News from PaymentsNews.com - March 2, 2017

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

ON THE WEB

  • CONSUMERS KEEN TO EMBRACE BIOMETRIC M-PAYMENTS SECURITY: MASTERCARD - Cards International - "Nearly half of consumers worldwide (43%) have expressed interest in biometrics and other forms of authentication to improve digital payments security and 51% of those discussions were driven by advancements in facial and fingerprint recognition, reveals a new study by MasterCard."
  • 47 Banks Complete DLT Cloud Pilot With Ripple Tech - Coindesk - "Notably, while Ripple has emphasized the effectiveness of its payment solution in international context, Yoshikawa, whose job is to liaison with Ripple’s partners in the Japanese market, cited the difficulties with domestic transactions as a motivating factor among participants."
  • AmEx to Boost Rewards on Platinum Card That Competes With J.P. Morgan’s Sapphire Reserve - Wall Street Journal - "American Express Co. is launching another salvo in the reward-card wars. The credit-card company plans to announce Thursday that it is significantly increasing benefits on its Platinum charge card for the second time since October. The changes, which don’t affect other AmEx cards, will go into effect March 30 and will also increase the annual fee for the Platinum consumer card by 22%, to $550 from $450. It is the first increase in the fee since 2007."
  • Bankers Are More Upbeat About Banks - Wall Street Journal - "Bank stocks reached their highest point in nearly 10 years on Wednesday, building on postelection gains that reflect hopes firms will soon shake free the shackles of stringent regulation, superlow interest rates and sluggish economic growth."
  • Class Action lawsuit alleges PayPal diverts charitable donations from intended recipients, misleads consumers - TechCrunch - "The way the payments company handles charitable donations. The suit alleges the company’s charitable arm, the PayPal Giving Fund, is misleading consumers who believe they are giving directly to the charities listed on the company’s homepage, but whose funds are sometimes being redirected to different charities without either party’s knowledge."
  • Samsung Pay to launch in India with support from five Visa and Mastercard issuers — and Paytm - NFC World - "Samsung has begun inviting Galaxy phone owners in India to register for early access to Samsung Pay. Customers can opt to pre-register Axis Bank, HDFC Bank, ICICI Bank and Standard Chartered Bank debit or credit cards and SBI Card credit cards today with support for American Express and Citibank to follow. Paytm‘s market leading mobile wallet will also be supported by the service."
  • The Price of Bitcoin is Now Worth One Ounce of Gold - Coindesk - "The per-ounce spot price for gold is $1,237.73, according to the XAU/USD spot exchange rate provided by Bloomberg Markets. Bitcoin's price, by comparison, is at $1,238.11, having opened the day at $1,230.02, BPI data shows."
  • Can Predicting Cardholder Behavior Help Reduce Prepaid Costs? - FIS Payments Leader blog - "Consumer spending behavior follows patterns, and prepaid cards are no different. Therefore, it follows that if banks and retailers can identify spending patterns, they can also predict behavior. This would allow them to pre-empt a consumer and take automated actions that could save money or increase card life and usage."
  • More on Bluetooth Ingenico Overlay Skimmers - Krebs on Security - "The device featured here is a Bluetooth-based skimmer; it is designed to steal both the card data when a customer swipes and to record the victim’s PIN using a PIN pad overlay."

ON THE WIRES

  • Fiserv Expands Contact and Servicing Center into Florida to Support Client Growth - "Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, has opened its third Contact and Servicing Center, expanding its business process outsourcing capacity by 22 percent into Lake Mary, Fla. to meet the growing demand of automotive lenders and financial institutions for customer care, collateral management and back office functions."
  • PerfectMind Teams up with PayPal to Expedite Payments - "PerfectMind, developers of cutting-edge facility booking and membership management software, today announced that PerfectMind customers can now offer PayPal as a payment option allowing members to seamlessly purchase products and services."

GLENBROOK PAYMENTS EDUCATION EVENTS

The next Glenbrook Payments Boot Camp is March 7-8, 2017 in San Jose, CA. On March 9, still in San Jose, will be our Digital Payments Insight Workshop. Following that, our next public Boot Camp and Insight Workshop combination will be in New York City in April followed by Atlanta in May. Check out 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!

March 01, 2017

Headline News from PaymentsNews.com - March 1, 2017

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

ON THE WEB

  • Nearly one year after launch, Apple Pay finds limited traction in China - TechCrunch - "When Apple Pay first landed in the Middle Kingdom in May 2016, the smartphone giant was expected to make a serious dent in China’s highly consolidated mobile payment market. Things seemed to get off to a good start. More than 30 million bankcards were added to Apple Pay during the first day of its official launch. However after close to one year of operations in China, Apple Pay has failed to become a genuine threat to the dominance of Alibaba’s Alipay and Tencent-backed Tenpay — which is embedded in dominant chat app WeChat Pay — the two leading payment services."
  • Introducing Transfer, a dedicated suite of payment tools for non-developers - Dwolla blog - "Transfer is a simple web app for businesses without developers on staff. The features range from the things everyone loves, like MassPay and scheduled payments, to new conveniences, like a simple upgrade path for Next Day Transfers or Custom Limits. Unlike our API products, there’s no coding with Transfer, making it ideal for small to medium-sized businesses looking for a turn-key solution. As usual, we do much of the heavy lifting when it comes to compliance, security, and customer notifications."
  • AGRA Funds Financial Inclusion Project - News Ghana - "Funded by Alliance for a Green Revolution in Africa (AGRA),the project dubbed Smallholder Financial Inclusion Project (SFIN),would ensure improved rural and agricultural value chain actors access to mobile financial products and services that promote financial inclusion for smallholder farmers."
  • Alternative Credit Scoring in the US: Innovators Applying Data Science to Unlock Financial Potential of ‘Thin-File’ Individuals - Let’s Talk Payments - "Although those people are credit-invisible for the traditional sector, their everyday activity and alternative records represent a meaningful and vast source of precise hallmarks of their level of sustainability, resilience and credibility. Smart Data, hence, as opposed to Big Data, is bridging the gap for the un- and underbanked, plugging them into the formal sector based on sophisticated use of advanced technology and available records from alternative sources (social, web, etc.)."
  • Mobile World Congress survey: IoT and mobile payments ‘biggest business opportunities’ for 2017 - NFC World - "The Internet of Things (IoT) is seen as the biggest business opportunity of 2017 by nearly half of visitors and exhibitors at Mobile World Congress surveyed by the GSMA (48.2%), followed by mobile payments (14.5%) and artificial intelligence (14%). "
  • Square Buys OrderAhead to Grab Pickup Business at Restaurants - Bloomberg - "Square Inc. said it acquired startup OrderAhead’s dining pickup website and app that allow people to place take-out orders and skip the line at restaurants."
  • WeChat Pay spreads to North America with latest partnership - Mobile Commerce Daily - "As the first payment partner of WeChat in North America, Citcon ( an integrated mobile payment and marketing platform that connects global merchants with Chinese consumers) will enable millions of businesses to accept WeChat Pay, which is already one of China’s most popular mobile payment methods in a country that touts unprecedented mobile payments uptake."
  • Report: Amazon plans to bring Alexa and cloud-based deep learning tools to call centers - GeekWire - "Amazon is gearing up to disrupt another industry, and this time it’s call centers. Amazon Web Services developing a suite of cloud-based tools to sell to enterprises that would help them manage their call centers, based on technology the online commerce giant developed for its own retail call centers, according to a report from The Information. "

ON THE WIRES

  • Mastercard and Unilever Join Forces to Empower Small and Micro Businesses in Emerging Markets - "At Mobile World Congress, Mastercard and Unilever today announced a strategic partnership to collaborate on a range of joint initiatives aimed at empowering small and micro businesses in emerging markets. By combining their expertise and reach, the companies intend to unlock economic growth and further advance specific Sustainable Development Goals such as poverty reduction and sustainable cities and communities."
  • CGI announces new SEPA instant credit transfer solution - "CGI (NYSE: GIB) (TSX: GIB.A) today announced the launch of a new high performance, real-time Single Euro Payments Area (SEPA) instant credit transfer solution. Developed by a team of CGI experts in the Czech Republic, the solution is designed for banks and payment service providers in Europe seeking to implement SEPA instant credit transfers, as defined by the European Payments Council's SEPA Instant Credit Transfer (SCT Inst) Rulebook. "

GLENBROOK PAYMENTS EDUCATION EVENTS

The next Glenbrook Payments Boot Camp is March 7-8, 2017 in San Jose, CA. On March 9, still in San Jose, will be our Digital Payments Insight Workshop. Following that, our next public Boot Camp and Insight Workshop combination will be in New York City in April followed by Atlanta in May. Check out 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!

February 28, 2017

Headline News from PaymentsNews.com - February 28, 2017

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 Newest Bank Blockchain: Will This Be the Breakthrough? - Wall Street Journal - "The latest project, set to be unveiled in a high-rise office in Brooklyn, is called the Enterprise Ethereum Alliance. The nonprofit foundation, which includes J.P. Morgan Chase & Co., Microsoft Corp., Bank of New York Mellon Corp., Intel Corp., and Banco Santander S.A., shows the fight is continuing to develop the killer back-office app in finance, despite increased focus since last year’s election on revenue growth."
  • UK sees 250% rise in NFC mobile payments in stores - NFC World - "he number of mobile transactions as a percentage of all in-store transactions has grown by 247% in the UK over the last year, analysis of transaction data and a consumer survey conducted by payments processor Worldpay has found. Workers paying for lunch on the go and payments for drinks in bars are the main drivers of the increase in transaction volume."
  • A Plus for P2P Lending: Investors to Buy Up to $5 Billion in Loans on Prosper - Finovate - "The rumors from last August are true. P2P lending giant Prosper announced a deal in which a group of institutional investors has agreed to purchase up to $5 billion in loans on the San Francisco-based company’s platform over the next 24 months. Investors include affiliates of New Residential Investment Corp., Jefferies Group and Third Point, and an entity of which Soros Fund Management serves as principal investment manager."

ON THE WIRES

  • LATEST GSMA REPORT HIGHLIGHTS SUCCESS OF MOBILE MONEY WITH OVER HALF A BILLION ACCOUNTS WORLDWIDE - "With 277 live services in 92 countries, mobile money is now available in 66 per cent of low- and middle-income markets. "
  • Interac® Debit card fraud losses at their lowest level ever - "For the seventh year in a row, Interac Debit losses due to skimming have declined, reaching a record low of just $11.4 million. Latest fraud figures released today by Interac Association show that only $1.5 million of that fraud occurred in Canada, thanks in large part to the completion of the transition to chip technology that began in 2008."
  • Fiserv Survey: Consumers Bank in Multiple Ways, Millennials Access Mobile Nearly Three Times More Than Other Generations - "The survey confirms that consumers use a blend of digital and traditional channels to manage their finances and make payments, with millennials accessing mobile banking nearly three times more than other generations. While consumer satisfaction remains high when it comes to primary financial organizations, with 76 percent rating them an eight or higher on a scale of zero to 10, many consumers express less satisfaction with their financial health compared to other areas of life."
  • Consumers Voice Preferences, Wishes in Ways Technology Power Payments - "Digital wallets continued to gain prominence in smartphones and laptops across the globe and dominated the discussion of new ways to pay, with the topic now topping 75 percent of conversations tracked in the 2017 edition of the Mastercard Digital Payments Study."
  • ashStar and Raise Partner to Help Merchants Participate in Digital Gift Card Marketplace - "CashStar, the industry-leading provider of prepaid commerce solutions, today announced its partnership with Raise, the largest marketplace for gift cards. The two companies have joined forces to provide retailers with new opportunities within the gift card marketplace, including sales enablement, brand management and risk mitigation. Raise has integrated with CashStar Exchange to offer digital gift cards on demand from an extensive network of the world’s top retailers and restaurants."
  • NACHA Announces Completion of Exploratory Effort with Accenture on API Standardization for the US Financial Services Industry - "NACHA announced today the completion of its exploratory effort around the value of API standardization for the U.S. financial services industry. In collaboration with Accenture, NACHA led a comprehensive research project, which included an analysis of the U.S. financial services market; examination of the potential roles and responsibilities of industry stakeholders within a standardized API ecosystem; identification of potential use cases; and an evaluation of the opportunities and challenges a standard set of APIs could provide to the industry. The results of the effort show that API standardization can address ACH Network pain points and benefit the entire payments ecosystem – from financial institutions, businesses and consumers to fintechs – through improved security and transparency of transactions, increased efficiencies and speed of communications, and enhanced support of payments innovations."
  • Forter Releases 2016 Fraud Attack Index Discovering Near 80% Increase For Domestic Holiday Attacks - "An additional trend was noted in the world of Account Takeover (aka ATO). Fraudsters have shifted from "Merchant ATO" (i.e. breaking into accounts on the merchant's website, in order to pass as returning customers) to "online payment ATO" (i.e. breaking into accounts of online payment services, such as PayPal, Apple Pay, Amazon Payments, etc.). For this reason, "Merchant ATO", which had shot up during 2015, decreased during 2016. However, this was a shift rather than a true decrease: The 2016 Fraud Attack Index shows a 131% uptick in the attempts of Account Takeover against online payments accounts."
  • The Less People Buy, The Happier They Are, Reveals New Global Study - "Banks need to change: Consumers across the world expect banks to adapt to new technologies and take on a more personal role in customers' lives. Fifty-nine percent of respondents say they wish they were smarter about saving money. Forty-nine percent of respondents want their financial life bundled within a single organization, and among the early adopters in the sample set (Prosumers), 55% want to pay for everything with smartphones and just as many would like to use biometric technologies for payments."
  • SecureKey and the Digital ID and Authentication Council of Canada Awarded Grant to Create Privacy Enhancing Cloud Ecosystem - "SecureKey’s architecture will improve security and privacy controls while maintaining the integrity and confidentiality of data across multiple environments. The ecosystem will provide users with choice, control and convenience when sharing digital assets across open interfaces. It will offer a transparent operational environment, and minimize data transfers between authoritative sources."

GLENBROOK PAYMENTS EDUCATION EVENTS

The next Glenbrook Payments Boot Camp is March 7-8, 2017 in San Jose, CA. On March 9, still in San Jose, will be our Digital Payments Insight Workshop. Following that, our next public Boot Camp and Insight Workshop combination will be in New York City in April followed by Atlanta in May. Check out 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!

February 27, 2017

Headline News from PaymentsNews.com - February 27, 2017

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

ON THE WEB

  • Regulators enforce new rules – bank executives to vouch for cyber attack defences - Payments Cards & Mobile - "A new regulation, which takes effect on March 1, requires companies supervised by New York’s Department of Financial Services to establish and maintain a cyber security programme that can protect consumers’ private data and “ensure the safety and soundness” of the state’s financial services industry – according to an article in the FT."
  • China Is Developing its Own Digital Currency - Bloomberg - "After assembling a research team in 2014, the People’s Bank of China has done trial runs of its prototype cryptocurrency. That’s taking it a step closer to becoming one of the first major central banks to issue digital money that can be used for anything from buying noodles to purchasing a car."
  • PayPal Mobile Leadership Extends - PayPal blog - "In the fourth quarter of 2016, PayPal processed more than $31 billion in mobile payments, up 53% from the same period in 2015. PayPal processed more than $2 billion via mobile devices during just the busy five days between Thanksgiving and Cyber Monday last year. Mobile now accounts for one-third of our overall payments. "
  • BIS Report: DLT 'Promising' But 'A Long Way Off' - Coindesk - ""Developments to date suggest that DLT bears promise but that there is still a long way to go before that promise may be fully realized. Much work is needed to ensure that the legal underpinnings of DLT arrangements are sound, governance structures are robust, technology solutions meet industry needs and that appropriate data controls are in place and satisfy regulatory requirements.""
  • Gap sees growth from mobile point-of-sale integration - Mobile Commerce Daily - "“If you go back to Old Navy’s Q4, what you see is a really exceptional sales over traffic spread,” Mr. Peck said. “Not insignificantly, this was driven by the fact that we have deployed across many Old Navy stores the mobile POS which also has the ability to do stock checks, to do check inventory levels, to open credit cards, et cetera, and what we’re seeing is when a sales associate has this, it changes fundamentally the way they interact with our customers in a very positive way.”"
  • Kaspersky records uptick in financial phishing and banking malware - Finextra - "2016 saw a big increase in financial phishing and banking malware, with crooks particularly targeting Android users, according to cybersecurity specialist Kaspersky Lab. Last year, financial phishing increased in both volume and professionalism, says Kaspersky, which recorded an all-time high in the number of incidents it caught on Windows-based machines."
  • Cash is no longer king - Crunch Network contributor - "While India’s sudden and swift demonetization stirred up the country, several other countries are planning the same. The European Central Bank has decided to withdraw the €500 banknote from circulation by the end of 2018, and Sweden has done the same thing as a gradual exercise almost without anyone noticing. This is because cash is barely used in Scandinavia. According to the central bank of Sweden, cash transactions made up 2 percent of all payments made in Sweden in 2015, whereas in Norway, cash accounts for less than 3 percent of the total amount of money in circulation, according to the central bank of Norway. The Scandinavian countries also rank among the least corrupt and most transparent in the world."
  • COMMENTARY: How 5G Networks Will Remake Payments—And the World - Digital Transactions News - "In the nearer term, Mastercard is already working with public transit systems to enable commuters to use their mobiles to pay, lowering costs for paper tickets, ticket machine upkeep, and fare collection. With 5G, transit providers can also collect and read critical information in real time to improve service, including increased efficiencies for buses and ridership and life-saving increases in response times to accidents and emergencies."
  • Google Assistant, its AI-based personal helper, rolls out to Nougat and Marshmallow handsets - TechCrunch - "Google continues its march to expand its place in the mobile ecosystem, anchored by the fact that its Android OS is by far the most ubiquitous smartphone platform in the world. Today, the company announced that it would be rolling out Google Assistant, its conversational search and AI-based personal helper (and answer to Apple’s Siri and Amazon’s Alexa), to smartphones running Google Play services on unforked versions of Android 7.0 (Nougat) and Android 6.0 (Marshmallow), including Android-forward phones like the Nexus and new devices like the LG G6."

ON THE WIRES

  • Mastercard Expands Mobile Order-Ahead Platform for Retailers and On-The-Go Consumers - "At Mobile World Congress, Mastercard today announced that it will expand Qkr! with Masterpass, a mobile order-ahead and payment platform developed by Mastercard Labs, to six new markets and add new functionality to eliminate the traditional “open tab” at a bar, club or restaurant."
  • Oracle and Mastercard to Deliver Seamless Payments - "At Mobile World Congress, Mastercard today announced a global partnership with Oracle that is designed to deliver a streamlined digital payment experience to the retail and hospitality industries."
  • mVisa to Expand to 10 Countries - "MOBILE WORLD CONGRESS – Visa (NYSE:V), announced that mVisa, its QR-based payment service, now live in India, Kenya and Rwanda, will soon be available to merchants and consumers in Egypt, Ghana, Indonesia, Kazakhstan, Nigeria, Pakistan and Vietnam. mVisa, a mobile solution, brings the benefits of easy and secure digital commerce to financial institutions, merchants and consumers in emerging markets - helping accelerate the global migration from cash to electronic payments."
  • Rambus Accelerates Mobile Wallet Adoption With Unified Payment Platform - "Today Rambus Inc. (NASDAQ:RMBS) announced a comprehensive mobile payments platform to enhance payment security, reduce operational costs and increase revenue for retailers. The Rambus Unified Payment Platform securely converts and manages digital value to enable consumers to pay with credit, points and coupons in a single transaction, and transform how they shop and pay."

GLENBROOK PAYMENTS EDUCATION EVENTS

The next Glenbrook Payments Boot Camp is March 7-8, 2017 in San Jose, CA. On March 9, still in San Jose, will be our Digital Payments Insight Workshop. Following that, our next public Boot Camp and Insight Workshop combination will be in New York City in April followed by Atlanta in May. Check out 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!

February 24, 2017

Headline News from PaymentsNews.com - February 24, 2017

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

ON THE WEB

  • Bitcoin Price Sets New All-Time High - Coindesk - "The price of bitcoin has reached a new all-time high."
  • In Argentina the AFIP will oblige all businesses to accept payments with credit cards - Payment Media (translation necessary) - "All businesses, professionals, health centers, cultural or entertainment will have to comply with the obligation to accept debit card for their operations, in a process that will begin in April and end in December, announced the Federal Administration of Public Revenue )."
  • Green Dot Gets Set for a Major Role in Payroll Cards As It Prepares to Swallow UniRush - Digital Transactions News - "Green Dot Corp.’s chief executive on Wednesday hailed the company’s pending acquisition of UniRush LLC and hinted the Pasadena, Calif.-based prepaid card specialist may be on the prowl for more such transactions. “We continue to keep our eyes open for new acquisition opportunities that meet our requirements,” said Steve Streit during a conference call to discuss Green Dot’s fourth-quarter and full-year 2016 results, according to a Seeking Alpha transcript."
  • Barclaycard strikes new wearable deals for contactless jewellery and watches - Finextra - "Contactless payment technology is migrating from the plastic card to high street jewellery and watch brands under deals agreed by Barclays with DCK Group and Tappy Technologies."
  • Lease Payment Solution Provider Raises $150M - Retail Touch Points - "Zibby works to help retailers target non-prime customers who don't qualify for traditional financing options, offering a risk-free payment option for durable goods. "
  • RCS, Google’s answer to iMessage, expands to 27 more carriers and OEMs - TechCrunch - "While messaging apps like WhatsApp, Messenger, Snapchat and WeChat rake in ever more users, features and relationships with key brands, and Apple’s iMessage continues to play strong with iPhone users, Google today announced a big step forward in its own strategy to bring a native, enhanced, native messaging service to more Android devices — a play for Google to help carriers raise their own native messaging game, and stay in the messaging game itself in the future."
  • Browser Fingerprinting Tech Works Across Different Browsers for the First Time - IEEE Spectrum - "Browsing the web just got a little less anonymous. The software that lets web sites identify you by certain characteristics of your computer and software was usually thwarted if you switched browsers. But now computer scientists have developed new browser fingerprinting software that identifies users across web browsers with a degree of accuracy that beats the most sophisticated single-browser techniques used today."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

The next Glenbrook Payments Boot Camp is March 7-8, 2017 in San Jose, CA. On March 9, still in San Jose, will be our Digital Payments Insight Workshop. Following that, our next public Boot Camp and Insight Workshop combination will be in New York City in April followed by Atlanta in May. Check out 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!

February 23, 2017

Headline News from PaymentsNews.com - February 23, 2017

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

ON THE WEB

  • Silicon Valley Tried to Upend Banks. Now It Works With Them. - New York Times Dealbook (Paywall) - "The venture capitalists who have invested billions of dollars in this wave of new financial technology — think Venmo and Bitcoin — have been left waiting for a breakout star that actually looks like a threat to even a part of the big banks’ business."
  • Square Tops Sales Estimates on Growth of Bigger Merchants - Bloomberg - "Square Inc., the electronic-payments company run by Twitter Inc. Chief Executive Officer Jack Dorsey, topped sales estimates for the fourth quarter, bolstered by larger merchants that are contributing an increasing share of Square’s payments volume. The shares climbed as much as 9 percent in extended trading."
  • Despite rising fraud, 80pc of consumers believe their info is secure: report - Mobile Commerce Daily - "A new report from ACI Worldwide illuminates a few of the drawbacks of an increasingly connected world, including a focus on the U.S., where only 54 percent of consumers trust third-party firms with personal and financial data."
  • Banking Industry Addresses Diversity, Adding Women to Boards - New York Times Dealbook (Paywall) - "Banking and capital markets, often viewed as dominated by men, achieved high scores in a newly released survey measuring the diversity in their director ranks. In 2016, women made up 26 percent of the boards in the banking and capital markets industry, which tied with the retail industry, according to a survey conducted by PricewaterhouseCoopers. The average rate of women on boards of companies in the Standard & Poor’s 500-stock index was 21 percent."
  • Messaging app Viber adds e-commerce button to sell you items inspired by your chats - TechCrunch - "Messaging app Viber is today announcing a new feature that taps into the bigger trend of messaging apps becoming multi-functional platforms, and also its ownership by e-commerce company Rakuten. Viber will start to present users with items for sale, inspired by your current chat, when you press a small shopping bag icon at the bottom of the screen and search for items. "
  • Airbnb finalizes deal to buy social payments startup Tilt - TechCrunch - "Airbnb is obtaining the Tilt assets and will keep the app operational, at least for now. But some sources are characterizing this as more of an acqui-hire, because Airbnb is spending most of the money on retaining the team."
  • MYOB acquires Paycorp in payments processing push - Finanical Review - "Accounting software company MYOB is pushing further into payment processing solutions, which it sees as a major growth opportunity for the business, thanks to the $48 million acquisition of Paycorp. The Paycorp purchase follows the company's launch of its PayDirect Mobile and PayDirect Online solutions in 2014 and 2016 respectively."
  • Faster Than Lightning? 'Sprite' Paper Envisions New Bitcoin Payments - Coindesk - "Announced in early 2016, the Lightning Network, has been heralded as a promising solution to bitcoin's scaling challenges – one that, over the past year, has been inching closer to launch. However, a new paper has laid out the framework for another payment system that researchers claim would be even faster."
  • Frank Abagnale, world-famous con-man, explains why technology won’t stop breaches - Ars Technica - "When credit card data is stolen, Abagnale explained, criminals "have to get rid of it right away"—because credit cards can be replaced and fraud stopped quickly. "But if it is someone's name, Social Security Number, and date of birth—they can't change [those things]. So the longer I keep the data, the more valuable it becomes when I go to sell it." Abagnale noted that some of the personal identity data stolen from the breach at TJ Maxx a decade ago is just starting to surface on the black market, for instance."

ON THE WIRES

  • Mastercard Launches Digital Vendor Directory to Assist Customers with Their Tokenization and Digital Wallet Development Efforts - "The Digital Vendor Directory was developed to help Mastercard customers identify vendors they may engage to more easily and quickly tokenize and digitize card portfolios and deploy their own Masterpass-enabled digital wallets, using the service provider of their choice. The directory lists both global and regional vendors and provides information about each vendor’s digital offering and geographical presence. In addition, each vendor is assigned a level of standard, gold or platinum, reflecting the vendor’s readiness level in integrating with Masterpass and with the Mastercard Digital Enablement Service (MDES). "
  • US Payments Forum Elects New Steering Committee to Provide Cross-industry Leadership and Guidance for US Payments Industry - "The U.S. Payments Forum and its leadership are making significant impacts in advancing the progress of payments technologies that protect the security of, and enhance opportunities for, payment transactions within the U.S. To propel the organization and its mission forward, the U.S. Payments Forum announced today its 2017-2018 Steering Committee and officers."
  • IDT Introduces the BOSS Revolution Money App - "IDT Corporation (NYSE: IDT), a global provider of communications and payment services, today announced the introduction of BOSS Revolution Money. The new app lets users send money transfers, mobile airtime and electronic gift cards to family and friends easily and securely. "

GLENBROOK PAYMENTS EDUCATION EVENTS

The next Glenbrook Payments Boot Camp is March 7-8, 2017 in San Jose, CA. On March 9, still in San Jose, will be our Digital Payments Insight Workshop. Following that, our next public Boot Camp and Insight Workshop combination will be in New York City in April followed by Atlanta in May. Check out 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!

February 22, 2017

Headline News from PaymentsNews.com - February 22, 2017

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

ON THE WEB

  • Swift Reveals Future Global Payment Tech – Blockchain Not Included - Coindesk - "After months of testing, Swift, the interbank payments platform that connects 11,000 global banks, has formally launched the system it believes will be the future of its cross-border payments services. And notably absent was any integration with blockchain or distributed ledger technology."
  • Mahindra Comviva launches payPLUS Aadhaar Pay for Rural India - Data quest - "Mahindra Comviva, the global provider of mobility solutions, announced the launch of payPLUS Aadhaar Pay, a merchant payment acceptance solution that leverages India Stack for merchant payments. payPLUS Aadhaar Pay simplifies digital payments by using Aadhaar number and linked biometric credentials to facilitate merchant on-boarding and payments. Given the government’s focus on digital payments, payPLUS Aadhaar Pay provides a merchant acceptance solution designed for rural India taking into account the specific challenges faced by consumers and merchants in such demographic segments."
  • Big Banks Declare War on Venmo - Bloomberg - "Nineteen banks, including Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo, are teaming up to start Zelle, a web site and app that will let users send and request money much like Venmo does. Bank of America says it is the first to incorporate all of Zelle's capabilities—including the ability to split bills between users—into its own mobile app, starting today. A standalone Zelle payment app should be available to anyone with a debit card, regardless of where they bank, by the middle of the year."
  • World Bank commits $130 million for digital payments in Pakistan - Impact Alpha - "The World Bank is backing projects in Pakistan to build access to credit and digital payment infrastructure for households and small businesses. The move is part of the government’s 2015 National Financial Inclusion Strategy."
  • Starling tests Google Home payments - Finextra - "UK challenger bank Starling has been experimenting with Google Home, integrating its API with the smart speaker to enable users to carry out balance queries and payments through voice commands."
  • News stories on retailing
  • Amazon plans to sell beer and wine at its new high-tech convenience store - recode - "Dubbed Amazon Go, the store concept allows shoppers to grab prepared food and drinks off of shelves and automatically be billed without stopping to pay on the way out. Amazon accomplishes this feat by making shoppers scan an app on the way in, and then uses a mix of sensors, cameras and computer vision to track the items that each customer takes. When the computers can’t figure it out, humans step in."
  • Nordstrom’s big, beautiful stores are losing ground - Seattle Times - "And Nordstrom, like other retailers, is being buffeted by a sea change in consumer spending habits. It’s not just that purchases are increasingly shifting online. It’s also that mall traffic is reportedly declining, shoppers are more apt to flock to discounters such as T.J. Maxx, and consumers are looking to spend their money on experiences rather than things."
  • Not All Big Box Stores Are Dead: Wal-Mart, Home Depot Buck Shopping Slump - Wall Street Journal - "Wal-Mart Stores Inc. and Home Depot Inc. on Tuesday showed they can still find ways to entice shoppers to their physical stores, despite a continuing consumer shift toward online buying. Both big box retailers reported strong sales over the holiday season, unlike other brick-and-mortar competitors such as Target Corp. and Macy’s Inc., showing that some retailers are managing to capitalize on a strengthening economy."
  • Kroger CIO Takes Tech to the Grocery Aisles - Wall Street Journal CIO Journal blog - "Kroger Co., whose 2,778 stores make it the largest supermarket chain in the U.S., has deployed technology in stores to blend the in-person and online shopping experience. The company faces growing threats from rivals such as Amazon.com Inc. and Wal-Mart Stores Inc., which are boosting efforts to sell groceries in multiple channels. "

ON THE WIRES

  • Bank Card Default Rate Hits 42-Month High In January 2017 According To S&P/Experian Consumer Credit Default Indices - "Data through January 2017, released today by S&P Dow Jones Indices and Experian for the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, shows the composite rate up three basis points from the previous month at 0.92% in January. The bank card default rate recorded a 3.21% default rate, up 26 basis points from December. Auto loan defaults came in at 1.06%, up three basis points from the previous month. The first mortgage default rate was 0.72%, up one basis point from December."
  • ProfitStars Introduces Gladiator Incident Alert for Complex Risk Monitoring and Management - "ProfitStars developed Gladiator Incident Alert as a scalable means to identify deep-level threats that may go unseen through traditional protection mechanisms such as firewall prevention and endpoint security. The solution, leveraging "sandbox" technology, obtains detailed information about malware behavior and alerts the financial institution of suspicious activity with detailed warnings that enable quick assessment and response."
  • Introducing Paymetric BillPay for Managing Electronic Invoice Presentment and Payments in the Cloud - "Paymetric, Inc., a global leader of integrated, secure electronic payment acceptance solutions for the enterprise announced today the release of Paymetric BillPay, a new solution that manages electronic invoice presentment and payments from the cloud for businesses."
  • GSMA Urges Policymakers to Advance the Digital Economy in New Report - "Digital and mobile technology is transforming the everyday life of billions of people around the world. As an example, until recently, the cash-based system for paying school registration fees in Côte d’Ivoire led to multiple problems, including time wasted by parents standing in long queues and the risk of robbery, which threatened the safety of parents and children and reduced Ministry of National and Technical Education (MENET) revenue collection. In 2011, MENET began collaborating with mobile money providers to digitalise annual school registration fee payments for approximately 1.5 million secondary school students. In the 2014-2015 school year, more than 99 per cent of students paid their registration fees digitally, with 94 per cent of payments made via the country’s three mobile money providers."

GLENBROOK PAYMENTS EDUCATION EVENTS

The next Glenbrook Payments Boot Camp is March 7-8, 2017 in San Jose, CA. On March 9, still in San Jose, will be our Digital Payments Insight Workshop. Following that, our next public Boot Camp and Insight Workshop combination will be in New York City in April followed by Atlanta in May. Check out 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!

February 21, 2017

Headline News from PaymentsNews.com - February 21, 2017

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 48 – APIs, ACH, and Faster Money – Dwolla - Glenbrook’s Payments on Fire podcast - "Sometimes a change in direction is the way forward. Network aspirant Dwolla has recently pivoted its work toward the product and development teams inside financial institutions. Instead of being a system operator, Dwolla now offers a broad set of APIs designed for those FIs to take advantage of the ACH’s overnight and Same Day ACH services. Dwolla’s shift also comes as the company and the US anticipates the impact of new immediate funds transfer systems Zelle, The Clearing House, and likely others."
  • EBA to relax controversial PSD2 authentication rules - Finextra - "In a speech in London on the EU's revised Payments Systems Directive (PSD2), which is set to come into force in January 2018, EBA chairman Andrea Enria said that the proposed standards would be modified to raise the threshold to EUR30 for remote consumer transactions, although there would be no exemption for corporate payments. Firms which use 'transaction risk analysis' to keep a lid on fraud will also be offered a get-out clause, as will payments at unattended terminals, such as parking meters or transport tickets. The use of transaction risk techniques will be monitored over an 18-month period to ensure that safeguards are working to reduce fraud rates. "
  • NPCI, Mastercard and Visa unveil standardised QR code mobile payments for India - NFC World - "Indian consumers can now make QR code-based mobile payments using BharatQR, a “low cost, interoperable mobile acceptance solution” backed by the Indian government and developed by Mastercard, Visa and National Payments Corporation of India (NPCI). The service is supported by American Express and 14 national banks."
  • Ant Financial to Invest $200 Million in South Korea’s Kakao Pay - Wall Street Journal - "Ant Financial Group, which is seeking to challenge global payment powerhouses Visa Inc. and MasterCard Inc., will invest $200 million in Kakao’s payments unit, with the two expected to form Kakao Pay Corp. as a subsidiary of Kakao by early April. Already this year Alibaba has made deals with U.S.-based money-transfer company MoneyGram International Inc. and the Philippines’ Globe Telecom, adding to existing arrangements in North America, Europe and across Asia."
  • Visa and IBM Watson commit to putting payments inside cars and wearable devices - Venture Beat - "“We share a vision of commerce-based IoT where any device, from a watch, ring, an appliance, or car, can be used to make a purchase. Our goal is to enable commerce on any connected device anywhere,” said IBM Watson general manager Harriet Green during a press conference."
  • Facebook Messenger Now Lets You Send Money With Transferwise - Bloomberg - "International money transfer service TransferWise Ltd. has announced an integration with Facebook Inc.’s Messenger that will let people set up foreign exchange transactions over the chat service. London-based TransferWise launched the technology as a bot -- a piece of automation software that understands natural language -- baked within Messenger. The bot, which is free to use and doesn’t affect prices or rates offered, will talk users through the process of arranging an international money transfer with TransferWise."
  • Apple buys Israel’s facial recognition firm RealFace – report - Times of Israel - "Apple Inc. has acquired Israel’s Realface, a cybertechnology startup whose facial recognition technology can be used to authenticate users. This is Apple’s fourth acquisition in Israel, the financial website Calcalist reported Sunday, and the deal is estimated to be worth a couple of million of dollars."
  • Russian mobile network MTS launches first phase of Money Wallet payments, transfer and loyalty service - NFC World - "Russian mobile network operator MTS has launched MTS Money Wallet, an online payments and money transfer service that incorporates loyalty points, offers and discounts, and is to be expanded to transport and in-store payments via NFC, SMS and USSD technologies later this year."
  • Swift is Recruiting Banks for Blockchain Tests - Coindesk - "According to Swift, recruits will include banks with strong liquidity practices for its proof of concept (PoC), which is aimed at replacing the antiquated nostro and vostro account system of settling cross border payments. The theory is that, by eliminating the dormant foreign exchange reserves held on the books of other banks, participants in the PoC will see a higher rate of return to shareholders since they are able to put the nostro/vostro capital into interest-earning assets."
  • Ingenico Readies Its POS App Marketplace for U.S. Merchants And Acquirers - Digital Transactions News - "The app store, dubbed the Marketplace, works with France-based Ingenico’s Telium line, which includes the Telium Tetra operating system, countertop, mobile and multilane POS terminals, access to more than 2,500 payment applications, and a device-management service. It launched in 2014, and has been available in some international markets. Its U.S. entry was delayed by the migration to EMV acceptance. With that under way, the time is right to bring Telium to the United States, Ben Wagner, director of product solutions for Ingenico Group North America, tells Digital Transactions News."
  • Walgreens integrates rewards program into Android Pay - Mobile Commerce Daily - "“Integrating our Balance Rewards loyalty program with Android Pay on all of the Equinox checkout terminals in our stores nationwide is another example of how we are always looking to enhance our customers’ in-store experience,” said Abhi Dhar, chief digital officer of Walgreens Boots Alliance & CIO at Walgreens. “It was evident just last month during the holiday shopping season that many of our Balance Rewards members enjoy the benefits of linking our loyalty program with mobile payments."
  • Facebook on course to be the WeChat of the West, says Gartner - TechCrunch - "It’s the beginning of the end for smartphone apps as we have known and tapped on them, reckons Gartner. The analyst is calling the start of a “post-apps” era, based on changes in consumer interactions that appear driven, in large part, by the rise of dominant messaging platforms designed to consume more and more of mobile users’ time and attention. It figures messaging apps will become more popular than social media apps within the next two years."

ON THE WIRES

  • Gulf Oil Announces New Gulf Pay Mobile App - "Gulf Oil today announced the launch of a new mobile payment application, Gulf Pay. The new offering, powered by P97's PetroZone® mobile commerce platform, will enable Gulf customers to navigate to the nearest Gulf gas station, pay for fuel at the pump, and purchase products inside the convenience store utilizing fast, simple, and secure mobile payment technology."
  • Radial and Klarna Partner to Integrate a Seamless Financing Option at Checkout, Driving Ease for Customers and Order Value for Retailers - "Klarna, one of Europe's leading payments providers, and Radial, the leader in omnichannel commerce technology and operations, today announced a new partnership to further expand Radial's payment options. The integration of Klarna with Radial's Payment platform enables clients and prospects to offer a financing option at checkout to give customers more choice and could give retailers a 58 percent higher order value."
  • Shopgate Joins Salesforce Partner Program to Drive Customer Success with Salesforce Commerce Cloud - "Shopgate today announced that it has joined the Salesforce Partner Program in support of Salesforce Commerce Cloud, the fastest path to unified commerce. Commerce Cloud enables brands to provide personalized experiences for shoppers that span web, mobile, social and in-store. And now, as part of the world’s #1 CRM platform – Salesforce – brands can deliver completely unified experiences for customers that extend beyond commerce to include marketing, customer service and more."

GLENBROOK PAYMENTS EDUCATION EVENTS

The next Glenbrook Payments Boot Camp is March 7-8, 2017 in San Jose, CA. On March 9, still in San Jose, will be our Digital Payments Insight Workshop. Following that, our next public Boot Camp and Insight Workshop combination will be in New York City in April followed by Atlanta in May. Check out 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!

February 17, 2017

Headline News from PaymentsNews.com - February 17, 2017

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 Clearing House calls for overhaul of AML practices - Finextra - "US bank lobby group The Clearing House has called for an overhaul of how its members deal with AML requirements, arguing that they should spend less time and money on submitting suspicious activity reports and instead concentrate on using more innovative methods to thwart money laundering and terrorist financing."
  • Top 3 technologies revolutionizing ecommerce - Mobile Commerce Daily - "We analyzed the top 3 most successful technologies impacting the ecommerce industry today."
  • Bank of Canada: Digital Currencies Need Regulation to Succeed - Coindesk - "Researchers from Canada's central bank argue that private digital currencies like bitcoin won't succeed in the long-term without some kind of government involvement."
  • Kenyan banks roll out PesaLink real-time direct P2P mobile payments - NFC World - "Kenya’s new digital payments platform PesaLink, that will enable consumers to make real-time mobile person-to-person (P2P) payments from US$0.10 up to US$9,650 at any time without having to go through intermediaries, is “expected to cut the cost of transactions and transform the way consumers interact with their banks”, the Kenya Bankers Association (KBA) says."
  • Fujitsu Announces Biometric Authentication Platform for the IoT - Mobile ID World - "The system takes an on-device approach to biometric data, adhering to FIDO Alliance standards. When a user needs to access an IoT device or service, she needs only to perform a biometric scan for authentication on her smartphone; confirmation of authentication then passes through a secure connection to a cloud-based server, while NFC technology is used to confirm that the user is in proximity to the IoT device or service she is trying to access."

ON THE WIRES

  • EMV Payment Card Market Struggles Amidst Overstocking Issues and Near Saturation Levels in China and the U.S. - "ABI Research finds global EMV payment card shipments reached just under three billion in 2016, marking a year-on-year (YoY) increase of less than 1%. Between 2012 and 2015, the market became accustomed to annual growth rates in the 20% to 35% range, as first China and then the U.S. began their respective migration programs. But as overstocking, paired with near saturation points, hit both countries simultaneously, orders significantly slowed in 2016 to impact the overall market."

GLENBROOK PAYMENTS EDUCATION EVENTS

The next Glenbrook Payments Boot Camp is March 7-8, 2017 in San Jose, CA. On March 9, still in San Jose, will be our Digital Payments Insight Workshop. Following that, our next public Boot Camp and Insight Workshop combination will be in New York City in April followed by Atlanta in May. Check out 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!

February 16, 2017

Headline News from PaymentsNews.com - February 16, 2017

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

ON THE WEB

  • Caring for Smart Chip Cards - New York Times - "Like their magnetic-stripe predecessors, the smart chips on the front of the card can be damaged by scrapes from keys, coins and other items with sharp edges. Exposure to liquids and other substances can also harm the chip. "
  • IBM links with Indiegogo, Visa, Bosch and more in $3B IoT push - TechCrunch - "The Visa deal will see IBM embed Visa’s tokenization technology (the security layer for mobile and other transactions that means no payment details get stored in the payment instrument) into its Watson IoT platform. This will mean that any connected device on a network powered by Watson can become a point of sale. This will be the first time that a company has worked with Visa — which powers 60 percent of the world’s transactions — to monetize IoT, IBM says. (Likely use cases will involve large networks of payment points in retail or public locations, for example.)"
  • State Bank of India Launches New Blockchain Finance Consortium - Coindesk - "India’s largest bank is spearheading a newly unveiled consortium focused on blockchain applications. According to local news outlets, the State Bank of India – which Fortune says held nearly $450bn in assets as of last year – is partnering with several technology firms and a group of domestic commercial banks on a new initiative dubbed ‘Bankchain’."
  • Kenya Bankers Association develops banking industry switch with Tieto - Payments Cards & Mobile - "The Tieto-developed payments software will enable KBA, via a subsidiary company called Integrated Payments Service Limited (IPSL), to develop instant payment services for the 45 KBA-member banks, becoming the first real-time interbank transaction platform in East-Africa region."
  • The Art of the Invisible Payment - FIS Payments Leader blog - "Invisible payments are quickly becoming mainstream, with a variety of approaches designed to make paying invisible and effortless."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

The next Glenbrook Payments Boot Camp is March 7-8, 2017 in San Jose, CA. On March 9, still in San Jose, will be our Digital Payments Insight Workshop. Following that, our next public Boot Camp and Insight Workshop combination will be in New York City in April followed by Atlanta in May. Check out 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!

February 15, 2017

Headline News from PaymentsNews.com - February 15, 2017

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

ON THE WEB

  • PayPal buys TIO Networks for $233 million - TechCrunch - "PayPal has agreed to buy bill payment management company TIO Networks for $233 million in cash. The deal will allow PayPal to gain access to a market of customers who pay their utility and cable bills at kiosks in locations like Rite Aid. This will help the company reach the “underserved” chunk of North Americans who are living paycheck-to-paycheck, some who even lack bank accounts. “There’s a chance to create a bridge for those users into the digital world,” Bill Ready, PayPal COO told TechCrunch. "
  • Microsoft Teams With KPMG to Launch Blockchain Workspace Network - Coindesk - "Dubbed "Blockchain Nodes", the workspaces are intended to serve as hubs for collaborative work on use cases, particularly those focused on finance applications. Of note is that the news expands an existing partnership, one that expanded last year that cover joint work on blockchain."
  • Introducing Square for Retail: A New Point-of-Sale App and Complete Set of Tools for Retail Businesses - Square blog - "Last year, retail businesses were responsible for 20 percent of all payments volume processed through Square. We built Square for Retail and our Square Retail app based on feedback from retail businesses we work with, like Pure Liquid Wine & Spirits."
  • Jaguar drivers in UK can now pay for Shell gas without leaving their car - Pocket-lint - "Jaguar has introduced a new app integration that allows some drivers to use their car’s touchscreen to pay for fuel. The Shell app, described as a new cashless payment app, will work with several Jaguar Land Rover models. With it installed, you can drive up to any pump at a Shell service station in the UK, and instead of using a card at the pump, you'd use the vehicle’s touchscreen to select how much fuel you require and then pay via PayPal or Apple Pay. Android Pay will be added in 2017."

ON THE WIRES

  • comScore Reports $109 Billion in Q4 2016 Total Digital U.S. Retail E-Commerce Spending, Up 18 Percent vs. Year Ago - "comScore today reported Q4 2016 U.S. retail e-commerce spending from desktop computers and mobile devices. For Q4 2016, $109.3 billion was spent online, marking an 18-percent increase versus the same quarter in 2015. The majority of online buying occurred on desktop computers, with $86.6 billion spent, up 13 percent vs. year ago. Meanwhile, m-commerce spending on smartphones and tablets contributed $22.7 billion, with a significantly higher year-over-year growth rate than desktop at 45 percent."
  • Intuit Goes Live On VersaPay ARC™ to Automate Its Invoice to Cash Process - "VersaPay Corporation (TSXV: VPY) ("VersaPay" or the "Company"), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, today announced that Intuit Inc. has implemented VersaPay ARCTM for select small business and accountant customers. The service allows the company's customers that primarily pay Intuit on a net term basis to use a self serve portal and pay online 24/7. This improves Intuit's collection tools and gives them the flexibility to better manage their invoice to cash cycle."
  • Vibe and WEX Announce Virtual Payments Agreement - "WEX Inc. (NYSE: WEX), a leading provider of corporate payment solutions, today announced a new agreement with Vibe Systems Ltd. Vibe delivers advanced front and mid office technology to travel businesses, such as online travel agencies, retail agencies, travel management companies and consolidators. The agreement allows a direct integration of WEX’s virtual debit, prepaid and credit cards with either pre- or credit funding into the Vibe platform which enables automated supplier payments in 24 currencies across the globe."

GLENBROOK PAYMENTS EDUCATION EVENTS

The next Glenbrook Payments Boot Camp is March 7-8, 2017 in San Jose, CA. On March 9, still in San Jose, will be our Digital Payments Insight Workshop. Following that, our next public Boot Camp and Insight Workshop combination will be in New York City in April followed by Atlanta in May. Check out 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!

February 14, 2017

Headline News from PaymentsNews.com - February 14, 2017

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 Look to Cellphones to Replace A.T.M. Cards - New York Times DealB%k - "Wallets can be lost, stolen or forgotten, but most people today wouldn’t be caught dead without their phones. Banks understand, and are grabbing on to that trend. Customers who don’t want to fumble around in their wallet for their A.T.M. card — or who have misplaced it for the umpteenth time — will soon be able to unlock cash dispensers’ coffers by using their phone."
  • JP Morgan, Santander Said to Join New Ethereum Blockchain Group - Coindesk - "Dubbed Enterprise Ethereum, the project's founding membership is said to include major financial institutions, tech giants and natural resources companies. According to sources, participating firms include JP Morgan, CME Group, BNY Mellon, Banco Santander, Microsoft, Red Hat, Cisco, Wipro and British Petroleum, among others. Blockchain startups BlockApps, Brainbot Technologies, ConsenSys, Nuco and Tendermint – as well as the Ethereum Foundation, the non-profit that oversees its code creation – are also said to be involved."
  • The payments industry authentication debate – A balance, not a trade-off - Payments Cards & Mobile - "This issue is very much top-of-mind at present following the European Banking Authority’s (EBA) consultation on strong customer authentication. The proposals and their implications are wide-ranging and could mean the end of frictionless online check-out in Europe."
  • More than 150,000 Kenyan merchants to get mobile payments with Masterpass QR - NFC World - "More than 150,000 micro, small and medium enterprises (MSMEs) in Kenya will be able to accept in-store mobile payments using QR code technology in 2017, using Mastercard’s Masterpass QR platform. The service is set to be introduced through “various financial institutions and other partners” from this month."
  • Kudi wants to make it easier to pay bills in places where internet access is limited - TechCrunch - "Making payments and sending money to friends and family in Nigeria can be cumbersome. Y Combinator-backed Kudi, which recently launched in Nigeria, is aiming to make it easier for people to pay bills and pay each other via messaging. At its core, Kudi is a chatbot, which lives inside Facebook Messenger and eventually Skype, that helps you transfer money, buy airtime for your phone, pay bills and stay on top of your accounts."
  • Payoneer launches API so companies can add embedded payment options to their services - TechCrunch - "Payoneer, a provider of payment technologies that lets vendors sell to international customers in local currencies — allowing for easier cross-border payments, is launching an API. The move lets billing companies and service providers embed payment technologies in their existing services."
  • Introducing the New Braintree Drop-in Mobile Payment UI - Braintree blog - "For the second iteration of our Drop-in UI, we went back to the drawing board and took a hard look at what the first version did well and where it fell short. We reached out to merchants who use this feature and asked them what worked for them and what we could do better. We also retooled the API to make our Drop-in UI flexible enough to fit into almost any app’s checkout flow."
  • Pizza Hut leverages mobile ordering and Alexa to drive sales - Mobile Commerce Daily - "Pizza Hut is hoping to tap into Amazon’s suite of mobile applications and Alexa devices with a new promotion that gives a discount to consumers who place an order through an Alexa device. "
  • Amazon’s Living Lab: Reimagining Retail on Seattle Streets - New York Times - "Amazon’s success in online commerce has transformed Seattle by bringing jobs, wealth and an almost insatiable appetite for office space — along with grumbling about how expensive the city is getting. At the same time, the company is putting its stamp on the city by using it as a lab for its expanding array of unconventional experiments in bricks-and-mortar retailing."

ON THE WIRES

  • ABI Research Forecasts Nearly 6 Billion SIM Card Shipments in 2017 Despite Sharp Decline in NFC SIMs Worldwide - "ABI Research forecasts SIM Card shipments will reach nearly six billion in 2017 and maintain relatively stable growth until 2021 despite a sharp decline in NFC SIMs worldwide. The NFC SIM (known to the industry as Single Wire Protocol SIM) is losing its fight against the eSE (Embedded Secure Element) and HCE (Host Card Emulation), which continue to gain momentum due to ongoing interest from banks, financial institutions, and transportation authorities."

GLENBROOK PAYMENTS EDUCATION EVENTS

The next Glenbrook Payments Boot Camp is March 7-8, 2017 in San Jose, CA. On March 9, still in San Jose, will be our Digital Payments Insight Workshop. Following that, our next public Boot Camp and Insight Workshop combination will be in New York City in April followed by Atlanta in May. Check out 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!

February 13, 2017

Headline News from PaymentsNews.com - February 13, 2017

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

ON THE WEB

  • Retailers Object to EU Plan for Stricter Online Security - Wall Street Journal - "Retailers are slamming a European Union proposal that would require customers to enter extra security information for online purchases above €10, saying the extra hassle could cut online sales by more than €11 billion a year. The European Banking Authority, an EU rule-making body based in London, said it aims to combat fraud by requiring customers to enter extra information, such as a PIN, but “will seriously consider” making changes. It plans to announce revisions by the end of this month."
  • Australian banks drop Apple Pay fee request to focus on iPhone NFC access - NFC World - "The group of Australian banks arguing for the right to collectively negotiate with Apple over the introduction of Apple Pay in the country have dropped their request to jointly arrange how to “pass-through” additional fees Apple imposes on its mobile payment service, and will now focus solely on gaining access to the NFC functionality within the iPhone."
  • Fintechs Spur Top Thai Bank to Create New Payments Platform - Bloomberg - "Kasikornbank Pcl, Thailand’s largest bank by revenue, plans to introduce a new digital-payments platform by the end of 2017 to counter threats to fee income from rival transaction networks."
  • DNB spins off Vipps mobile payment service - Finextra - "More than 100 Norwegian banks are to take a stake in the Vipps P2P mobile payment app developed by DNB in a bid to block competition from rival Nordic platforms and the likes of Facebook, Google and Apple."

ON THE WIRES

  • Apriva and Parlevel Systems Unveil One-Stop-Shop Vending Solution - "Apriva, a leading provider of omnichannel payment solutions and secure mobile communications, and Parlevel Systems, an innovative leader for vending technology solutions, announced today the enhancement of Parlevel’s unique, one-stop-shop solution for vending operators through the support of campus cards. In this partnership with Apriva, Parlevel delivers a full range of versatile hardware, equipment financing, flexible payment processing, campus processing, and analytics tools—all powered by an easy-to-use vending management system (VMS) for the food and beverage industry."
  • Transpay Adds Global Payouts to Morocco - "Transpay, a B2B/B2P cross-border payments platform, today announced that its service offering had expanded to include direct-to-bank deposits in Morocco. Transpay clients are now able to send local currency payments to individuals' bank accounts in Moroccan dirham (MAD)."

GLENBROOK PAYMENTS EDUCATION EVENTS

The next Glenbrook Payments Boot Camp is March 7-8, 2017 in San Jose, CA. On March 9, still in San Jose, will be our Digital Payments Insight Workshop. Following that, our next public Boot Camp and Insight Workshop combination will be in New York City in April followed by Atlanta in May. Check out 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!

February 10, 2017

Headline News from PaymentsNews.com - February 10, 2017

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

ON THE WEB

  • Australia’s retailers join the banks in their battle with Apple Pay - NFC World - "The Australian Retailers Association (ARA) has come out in support of the group of four Australian banks seeking stronger negotiation powers with Apple over the introduction of Apple Pay in the country, saying they believe access to the NFC functionality in the iPhone would allow retailers to provide “a richer and more convenient customer experience”."
  • Project Jasper: Lessons From Bank of Canada's First Blockchain Project - Coindesk - "Project Jasper is our DLT flagship experiment, first revealed last June in a speech in Calgary. It's a joint initiative between Payments Canada, the Bank of Canada, major Canadian banks and R3. We've built and are test driving a simulated wholesale payment system using a DLT-based settlement asset (dubbed 'CADcoin' or 'settlement coin’). The experiment will be ongoing until later this spring, but already it has taught us a lot about how the technology would have to improve to win a horse race with our current Large Value Transfer System."
  • PCI SSC issues multi-factor authentication guidance - Contactless Intelligence - "Attackers continue to compromise valid credentials to access company networks and steal data. To help organizations combat this growing threat, the PCI Security Standards Council (PCI SSC) has issued guidance on what they consider to be the proper use of multi-factor authentication for preventing unauthorized access to computers and systems that process payment transactions."
  • Surging Attacks Driven by Spoofed IDs And Mobile Devices Darken the Security Picture - Digital Transactions News - "Criminals are increasingly relying on a devil’s brew of breaches, phishing, bot attacks, and outright fakery to piece together convincing identities they can use to loot accounts. “There’s a lot of [personally identifiable information] in the wild and fraudsters have access to it,” Vanita Pandey, product management and payments executive at ThreatMetrix, tells Digital Transactions News. “It’s easier than ever to commit crime.”"
  • How Retailers Can Grow Their Customer Base With Gift Card Programs - Retail Touch Points - "Gift cards help givers strike the perfect balance between wanting to give a personal gift and giving the recipient some freedom to choose. CardCash.com ranks gift cards as the #1 most requested gift, with 28.8% of consumers specifically requesting gift cards from friends or family. And, not surprisingly, gift cards are particularly popular over the holiday season. In fact, by 2015, gift cards accounted for more than 18% of holiday purchases."
  • Google is killing its experimental Hands Free payment app - The Verge - "The app, which launched on iOS and Android in March last year, allowed users to enter in payment and photo information, and then used a combination of Bluetooth, Wi-Fi, and location services to identify if your phone was in a store. When paying, a cashier would be presented with a photo that the user had set up in an app to confirm the transaction."
  • VC Firms Back Record Number of Cybersecurity Startups in 2016 - Bloomberg - "More than 4.2 billion records were exposed during data breaches last year, easily eclipsing the previous record of 1.1 billion in 2013, according to a January report by Risk Based Security Inc. Corporate cybersecurity spending is growing at twice the rate of overall IT budgets and will reach $101.6 billion by 2020, research firm IDC estimates."

ON THE WIRES

  • Origination Volume is Higher Than or as Anticipated - "Twenty-three financial institutions, representing 63 percent of ACH Network origination volume, participated in a qualitative survey during December 2016 and January 2017 about Same Day ACH, an industry solution to move payments faster. Across the board, Same Day ACH has seen strong performance and usage, with 90 percent of respondents saying the volume of origination services was the same or higher than expected, and 83 percent saying the same about volume received."
  • Blackhawk Network Launches Same-Day Rebate Reward Fulfillment - "Blackhawk Network, a pioneer of gift cards, payments tools and rewards delivered via a robust and convenient network, today announced the launch of its first-ever rebate processing solution that allows consumers to qualify for and submit a utility-sponsored rebate, and receive a reward, on the same day. With this new On-the-Spot Rewards™ utility providers and service providers across the country can offer to consumers rebates and rewards following their purchase of an in-home service, HVAC or energy efficient product installation."
  • Signifyd Joins Salesforce Partner Program to Drive Customer Success With Salesforce Commerce Cloud - "Signifyd today announced that it has joined the Salesforce Partner Program in support of Salesforce Commerce Cloud, the fastest path to unified commerce. Commerce Cloud enables brands to provide personalized experiences for shoppers that span web, mobile, social and in-store. And now, as part of the world’s #1 CRM platform – Salesforce – brands can deliver completely unified experiences for customers that extend beyond commerce to include marketing, customer service and more."
  • LendingTree Analysis Shows Apple Users Have Higher Credit Scores, Loan Amounts and Better Rates than Android, Windows - "LendingTree® (NASDAQ: TREE), the nation's leading online loan marketplace, analyzed over 2 million purchase mortgage and personal loan requests to better understand how Americans are shopping for their loans. The findings show that 41 percent of purchase mortgage shoppers and almost half (48.53%) of personal loan shoppers use a mobile device to shop and compare loan offers from different lenders. Additionally, the analysis suggests a correlation between a user's device, credit score, and loan amount."

GLENBROOK PAYMENTS EDUCATION EVENTS

The next Glenbrook Payments Boot Camp is March 7-8, 2017 in San Jose, CA. On March 9, still in San Jose, will be our Digital Payments Insight Workshop. Following that, our next public Boot Camp and Insight Workshop combination will be in New York City in April followed by Atlanta in May. Check out 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!

February 09, 2017

Headline News from PaymentsNews.com - February 9, 2017

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

ON THE WEB

  • Kenyan banks get backing to launch M-Pesa competitor network - Payments Cards and Mobile - "The Kenya Interbank Transaction Switch, which has been developed by the Kenya Bankers Association (KBA), facilitates real-time transfer of money between banks without going through mobile money platforms that are owned by the three telecom firms."
  • PayPal Says Anti-Money Laundering Program Subpoenaed by DOJ - Bloomberg - "San Jose, California-based PayPal processed $354 billion in transactions in 2016, with about half of the volume overseas. Since it handles transactions across borders, it has to comply with laws targeting money laundering. PayPal suggested in a statement that the Department of Justice is seeking information regarding PayPal users, not targeting the company in the probe."
  • Google unveils Android Wear 2.0 and new watch with support for NFC mobile payments - NFC World - "Google has officially unveiled Android Wear 2.0, the new version of its operating system for smartwatches, and two new watches from LG — one of which comes with NFC to support HCE mobile payments using Android Pay."
  • USA Technologies’ Cashless Rollout Speeds Along, But Profits Elude the Vending Specialist - Digital Transactions News - "USAT advocacy of cashless-vending payments is bolstered in part by consumer affinity for contactless payments. In a test promoting Apple Pay on its interactive ePort devices, USAT found that vending operators had a 36.5% increase in overall sales and a 55.5% increase in revenue from contactless purchases. The average contactless ticket of $1.47 was 26.7% more than the average cash ticket of $1.16. “As revenue and connections continue to grow, we’ve returned to our profitability path we were on in the early part of last year and we’re obviously on track to reach our long-term goals of 500,000 connections and a $100 million annual revenue run rate,” said chairman and chief executive Stephen P. Herbert during the call."
  • Two of China's Biggest Exchanges Stop Bitcoin Withdrawals - Coindesk - "In public posts that showcase the increasingly coordinated nature of exchange policy in the region, both OKCoin and Huobi said today that the move was a bid to bolster their anti-money laundering (AML) capabilities and prevent "illegal transactions"."
  • How emerging payments impact merchant acquirers - Mobile Payments Today - "Even though some emerging payment technologies are not widely accepted or even broadly adopted by consumers, the acceptance of these technologies can create opportunities for merchant acquirers to differentiate themselves in a highly competitive and relatively commoditized industry. Every acquirer accepts the major issuing brands and debit cards, but not all acquirers accept these new technologies."

ON THE WIRES

  • NCR Introduces NCR ENCOR for Small and Medium-Sized Retailers in North America - "NCR Corporation (NYSE: NCR), the global leader in omni-channel technologies, introduces NCR ENCOR, a complete store management solution that delivers comprehensive point of sale, front office and back office functionality for small and medium-sized retailers that will be available through the NCR Interact Partner Program in North America. NCR ENCOR is based on an open platform delivering a unified customer experience leveraging the NCR Retail ONE omni-commerce hub. NCR Retail ONE provides real-time access to actionable data across multiple channels, as well as seamless integration to an ever-evolving ecosystem of third party applications."
  • USA Technologies to Roll Out Cashless Payment Technologies to Six Pepsi Cola Bottlers - "USA Technologies, Inc. (NASDAQ:USAT) ("USAT"), a payment technology provider of cashless and mobile transactions in self-serve retail, today announced agreements with several Pepsi Cola bottling franchisees throughout North and South Carolina to leverage USAT’s cashless payment technologies within their existing inventory of vending machines. The company has 11,900 customers and over 469,000 point of sale cashless payment devices on the ePort Connect platform."
  • InComm Expands International Network through Partnership with Brazilian Convenience Store Chain - "InComm, a leading prepaid product and transaction services company, today announced it has finalized a five-year exclusive partnership with Ipiranga in Brazil, further adding to its international network. Ipiranga is a subsidiary of Ultra, Brazil's second-largest fuel distribution company, and manages its chain of convenience stores. The partnership differentiates Ipiranga in selling gift cards at service stations."

GLENBROOK PAYMENTS EDUCATION EVENTS

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!

February 08, 2017

Headline News from PaymentsNews.com - February 8, 2017

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

ON THE WEB

  • Javelin, Visa offer different takes on whether card fraud is moving online - CSO - "According to a report released last week by Javelin, card-not-present fraud went up 40 percent this year, but according to a new report from Visa, there has been no increase in online fraud."
  • Apple Pay Now Supported by 36% of Merchants in United States - MacRumors - "Apple Pay is now accepted by 36 percent of merchants in the United States, according to research conducted by retail consulting firm Boston Retail Partners and shared by NFC World. That's up from 16 percent last year."
  • Samsung to bring Mini version of Samsung Pay to all Android handsets - NFC World - "Samsung is to launch a pared-down version of Samsung Pay which will make the mobile payments service available on all Android handsets. The Samsung Pay Mini app will support certain features of the original platform, including membership, lifestyle, transportation and online payments, and will be available first in South Korea from the first quarter of 2017, the company says."
  • A rash of invisible, fileless malware is infecting banks around the globe - Ars Technica - "Now, fileless malware is going mainstream, as financially motivated criminal hackers mimic their nation-sponsored counterparts. According to research Kaspersky Lab plans to publish Wednesday, networks belonging to at least 140 banks and other enterprises have been infected by malware that relies on the same in-memory design to remain nearly invisible. Because infections are so hard to spot, the actual number is likely much higher."
  • Arizona Bill Would Make Blockchain Smart Contracts 'Legal' - Coindesk - "The bill is somewhat akin to another measure put forward in Vermont that would make blockchain records admissible as evidence in court. In both cases, state law is amended to create a kind of legal backing for blockchain-based information."
  • All CIOs Want For 2017…Is Unified Commerce - Retail Touch Points - "Unified commerce goes beyond omnichannel by enabling a single, holistic platform, combining in-store, mobile, e-Commerce and every other function throughout the enterprise. As such, it is quickly becoming the new retail imperative. While just 18% of retailers have implemented a unified commerce platform, another 57% plan to do so within three years."
  • Barclaycard, VocaLink enable merchants to accept mobile payments through Pay by Bank app - Contactless Intelligence - "Barclaycard is partnering with VocaLink to enable its merchants to accept mobile payments through Pay by Bank app. Pay by Bank app will allow shoppers to pay quickly and securely for goods and services on a mobile device, without the need to enter credit or debit card details. By using Pay by Bank app payment button at the point of purchase, customers can login to their mobile banking app which will seamlessly authorise and complete the transaction."
  • ‘Dark Web’ Sites Hit in Cyberattack - Wall Street Journal - "A network of websites used by hackers and others to anonymously share information has itself been hit by a cyberattack."
  • Banks are finally sprouting anew in America - Wall Street Journal - "President Donald Trump last week signed executive actions aimed at unwinding parts of the 2010 Dodd-Frank Act. Some in the financial industry hope reduced regulation will spur broader interest in starting community banks and, over time, more lending that will bolster economic growth."
  • How AI Will Become the Most Defining Technology for the Banking Industry - Let’s Talk Payments - "Artificial intelligence is here to stay, and 2017 will be about the adoption of ML/AI by the FinTech community and beyond. Experts agree that FinTech companies will harness this technology to make better decisions and offer improved solutions – they will make use of predictive analytics to break down big data and analyze large volumes of consumer information."

ON THE WIRES

  • Adyen Increases Transaction Volume to $90 Billion in 2016, Nearly Doubling Year-over-Year - "Adyen, the leading payments technology company, today announced the company increased transaction volume 80 percent year-over-year, totaling $90 billion in 2016. Adyen also made significant traction in the retail market, unveiling successful in-store and omnichannel payment solutions for customers like Tory Burch and Burberry."
  • Gartner Says 8.4 Billion Connected "Things" Will Be in Use in 2017, Up 31 Percent From 2016 - "Gartner, Inc. forecasts that 8.4 billion connected things will be in use worldwide in 2017, up 31 percent from 2016, and will reach 20.4 billion by 2020. Total spending on endpoints and services will reach almost $2 trillion in 2017. Regionally, Greater China, North America and Western Europe are driving the use of connected things and the three regions together will represent 67 percent of the overall Internet of Things (IoT) installed base in 2017."
  • Chase Pay and New Partners Bring Payment Convenience to Customers on the Go - "Chase customers will soon be able to use Chase Pay® while on-the-go with two new merchants – global restaurateur HMSHost and Parkmobile. HMSHost is the leading food and beverage provider for travel venues, while Parkmobile enables users to pay for parking in cities around the country through their app."

GLENBROOK PAYMENTS EDUCATION EVENTS

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

  • Join us at the 2017 FinTech Georgia Symposium February 9! Glenbrook is a proud sponsor of the 2017 FinTech Georgia symposium. Join us for this great event on February 9 in Atlanta. Reach out to Glenbrook's Elizabeth McQuerry, a board member of the Technology Association of Georgia, to schedule a meeting with the Glenbrook partners in town for the symposium.
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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

February 07, 2017

Headline News from PaymentsNews.com - February 7, 2017

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 Blockchain: Far from Where It Started in Use Cases - TSYS N>genuity Journal (contributed by Glenbrook’s George Peabody) - "Today's central insight is that blockchains are essentially a new database structure. They store every change to the database, including both the data itself and who controls the ability to modify that data. Because blockchain-based records cannot be altered, the database may be shared across multiple parties while maintaining integrity. And that database integrity can be automatically audited so trust between parties is more readily generated and maintained through transparency. These capabilities make blockchain-based databases appropriate for shared or distributed ledger applications."
  • ACH: No Trace Left Behind - FRB Take on Payments blog - "Under NACHA rules, the FI originating the payment assigns a unique 15-digit trace number; the trace number's uniqueness is necessary to differentiate each payment in the batch. Uniqueness is not mandated across payments in other batches in the same payments file. Consequently, a trace number could be repeated in multiple payment files on the same day or across many days—and, even more troublesome, within the same payments file. "
  • Bank of Nova Scotia, Investing in Digital Overhaul, Finds Power in AI - Wall Street Journal blog - "Working with Toronto-based startup DeepLearni.ng, Scotiabank developed and launched a tool in December that identifies potentially delinquent or high-risk customers and suggests the best way to approach them about it. Even a small improvement in collections can have a big impact on the bank’s bottom line, said Michael Zerbs, chief technology officer at Scotiabank. The challenge is to figure out the best way to interact with customers who may have simply forgotten to pay versus those less likely to pay at all."
  • Cofounders Exit Revel Systems Following a Fresh Investment from Welsh, Carson - Digital Transactions News - "The cofounders of Revel Systems, an early maker of iPad-based point-of-sale systems, have left the company following a fresh investment by private-equity firm Welsh, Carson, Anderson & Stowe, which has long been active in the payments industry."
  • BNP Paribas to double digital spending to EUR3 billion - Finextra - "BNP Paribas is to invest EUR3 billion in a three-year business plan to build the 'bank of the future'. The French bank is looking to generate EUR3.4 billion in savings between 2017 and 2019, slashing branches and raising its spend on digital initiatives by 50% over the period."
  • JCB PARTNERS WITH KAZKOMMERTSBANK TO BOOST CARD ACCEPTANCE IN KAZAKHSTAN - Cards International - "JCB International (JCBI), the international operations subsidiary of JCB, has teamed up with Kazakhstan-based commercial lender Kazkommertsbank (Qazkom) to facilitate JCB card acceptance in the country. The recent agreement is the result of strategic ties between Discover and JCB since 2006, which enabled JCB card acceptance on the Discover Network in the US, and Discover card acceptance on the JCB network in Japan."

ON THE WIRES

  • More than 33 Million Customers Have Used Amazon Payments to Make a Purchase - "Amazon today announced that more than 33 million customers have used Amazon Payments to make a purchase. Amazon Payments makes it easy for customers around the world to pay on thousands of merchant websites using the information already stored in their Amazon account. In 2016, Pay with Amazon payment volume nearly doubled, with expansions into France, Italy and Spain and new verticals including government payments, travel, digital goods, insurance, entertainment, non-profits and charities helping fuel this growth. Amazon Payments also introduced new in-store experiences with Moda Operandi and Amazon Books."
  • IBM Launches Blockchain Initiative with Dubai Government Agencies and Enterprises on IBM Cloud - "IBM is collaborating with Dubai Customs, Dubai Trade and its IT provider DUTECH, to explore the use of blockchain for a trade finance and logistics solution for the import and re-export process of goods in and out of Dubai. Using Hyperledger Fabric and IBM Cloud, the blockchain solution transmits shipment data allowing key stakeholders to receive real-time information about the state of goods and the status of the shipment. Taking the example of a shipment of fruit, stakeholders involved in the process will receive timely updates as the fruit is exported from India to Dubai by sea, and then manufactured into juice in Dubai, and then exported as juice from Dubai to Spain by air."
  • Where Are Bankers Targeting IT Investments? William Mills Agency’s Bankers as Buyers 2017 Report Now Available - "William Mills Agency, the largest independent public relations and marketing firm specializing in the financial industry, released its 14th annual financial services industry research report, #BankersAsBuyers 2017. Key trends in this year’s report include the continued evolution of payments technology, increased adoption of self-service and innovative branch automation technology, and further enhancements to mobile banking – all converging as part of an overlying strategy to improve the customer experience."

GLENBROOK PAYMENTS EDUCATION EVENTS

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

  • Join us at the 2017 FinTech Georgia Symposium February 9! Glenbrook is a proud sponsor of the 2017 FinTech Georgia symposium. Join us for this great event on February 9 in Atlanta. Reach out to Glenbrook's Elizabeth McQuerry, a board member of the Technology Association of Georgia, to schedule a meeting with the Glenbrook partners in town for the symposium.
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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

February 06, 2017

Headline News from PaymentsNews.com - February 6, 2017

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

ON THE WEB

  • Payments in Real Time - Payments Views (Glenbrook’s Elizabeth McQuerry) - "It’s taken another three and a half years but in 2017, new payment systems are coming on line that will totally transform how many payments are made. Zelle and the new Real Time Payments rail from The Clearing House are joining contenders like PayPal."
  • Globalization failed too many people. Here’s the technology that could help it work for everyone - Quartz - "The challenge that lies ahead is how to make globalization (and, ipso facto, technology) work for everyone, not just privileged few. The blockchain, a decentralized ledger that verifies and permanently records transactions, may help us achieve this goal. In fact, the democratizing potential of this technology could be key to ushering in a new era of globalism."
  • Klarna buys BillPay, the PayPal of Germany, for $75M from Wonga - TechCrunch - "The sale is a sign of consolidation for both: Klarna — which gives customers one-touch payment services, as well as the option to pay immediately, pay in instalments or pay at delivery — is looking to build out a stronger presence across Europe in payments. Specifically, in this case, it’s augmenting an existing business in Germany, where this is Klarna’s third acquisition (it acqui-hired the team behind peer-to-peer payments app Cookies in October 2016; and it acquired Sofort in 2013 for $150 million)."
  • Mobile payments volume in US will triple by 2021: report - Mobile Commerce Daily - "Mobile payments volume in the US is expected to total $112 billion in 2016 and grow at 20 percent compound annual growth rate until it reaches $282 billion by 2021, according to a report from Forrester."
  • Apple accuses Australian banks of Apple Pay transaction fee ‘trojan horse’ - NFC World - "Australian banks are using fees on Apple Pay transactions as a “trojan horse” to discourage the use of its mobile payments service and to condition consumers to accept transaction fees with the “longer term view to setting a precedent for charging for mobile payments on other digital wallets,” Apple claims in its latest submission to the Australian Competition and Consumer Commission (ACCC)."
  • As Bitcoin ETF Nears, Analysts Warn of Trading Frenzy - Wall Street Journal - "As bitcoin ETF nears, analysts warn of trading frenzy - "An easily accessed ETF that tracks the value of bitcoin could cause money to flood into the fledgling bitcoin market, analysts say. Indeed, what some see as a chance for average investors to participate in one of the great financial innovations of recent years could set off a trading frenzy in an already wild market."
  • Mobile 2.0 - Benedict Evans - "Today, ten years after the iPhone launched, I have some of the same sense of early constraints and assumptions being abandoned and new models emerging. If in 2004 we had 'Web 2.0', now there's a lot of 'Mobile 2.0' around. If Web 2.0 said 'lots of people have broadband and modern browsers now', Mobile 2.0 says 'there are a billion people with high-end smartphones now'*. So, what assumptions are being left behind? What do you do differently if you assume not just the touch screen from 2007 but unlimited battery and bandwidth (around half of smartphone use in developed markets is on wifi and mobile networks are 10x faster), high-DPI screens, a CPU and GPU 100x faster than PCs in 1994, and lots of high-quality image sensors? "

ON THE WIRES

  • IHG® Notifies Guests of Payment Card Incident at 12 Properties in the Americas - "Findings show that malware was installed on servers that processed payment cards used at restaurants and bars of 12 IHG managed properties. Cards used at the front desk of these properties were not affected. The malware searched for track data (cardholder name, card number, expiration date, and internal verification code) read from the magnetic stripe of a payment card as it was being routed through the affected server. "
  • Shift4 Announces Unified Commerce Payments for Microsoft Dynamics 365 for Operations - "Shift4 partnered with Microsoft value-added distributor Retail Realm to develop a complete integration with Microsoft Dynamics 365 for Operations. The resulting Unified Commerce Payments extension provides retailers the flexibility to implement a secure, integrated payment solution across their entire enterprise – from storefronts to e-commerce, call center, fulfillment and more. "

GLENBROOK PAYMENTS EDUCATION EVENTS

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

  • Join us at the 2017 FinTech Georgia Symposium February 9! Glenbrook is a proud sponsor of the 2017 FinTech Georgia symposium. Join us for this great event on February 9 in Atlanta. Reach out to Glenbrook's Elizabeth McQuerry, a board member of the Technology Association of Georgia, to schedule a meeting with the Glenbrook partners in town for the symposium.
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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