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August 21, 2014

Square Introduces Square Analytics for Merchants

Square logo 140pxSquare has announced Square Analytics, an addition to its Register service that "delivers sellers actionable data to increase sales and better serve their customers." Square Analytics integrates the full suite of Square Register products including Pickup, Invoices, and Appointments.

Building on the sales data to which Square sellers already have access, Square Analytics delivers information including most-popular items and categories, busiest time of day, and a holistic view of customer spending. It also shows how a seller's business is performing compared to others in their industry. Buyer insights show sellers useful customer information. Sellers can see new vs. returning customers as well as customer frequency, recency, and average customer spend.

Headline News from PaymentsNews.com - August 21, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

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

August 20, 2014

Headline News from PaymentsNews.com - August 20, 2014

On the Web:

  • Introducing the Uber API - Uber Blog - "As of today, we officially open—to all developers—access to many of the primitives that power Uber’s magical experience. Apps can pass a destination address to the Uber app, display pickup times, provide fare estimates, access trip history and more."
  • Uber Launches An Open API With 11 Partners, Including OpenTable, TripAdvisor, and United Airlines - TechCrunch - "That means any app that can send a destination address to Uber will be able to display pickup times and fare estimates without users having to leave their apps. For a small set of select partners, Uber will also allow users to request a car without having to open its own app."
  • A Chain Funding Update - Chain Blog - "Today, we’re pleased to announce that Chain has closed a $9.5M round of funding led by Khosla Ventures, who are joined by return backers RRE Ventures, Thrive Capital, and SV Angel."
  • UPS Investigating Possible Security Breach - New York Times BITS Blog - "UPS hired an information security firm and discovered that the malware was on its in-store cash register systems at 51 of its locations in 24 states, roughly 1 percent of UPS’s 4,470 franchises throughout the United States."
  • Wells Fargo Launches Accelerator To Promote Innovation In Financial Services - TechCrunch - "Sahni said the company had informally been running an accelerator-like program for years, looking out for smaller companies and helping them prepare for “prime time.” Now the bank is making it official so that it can give these startups exposure and guidance from across the company."
  • First Data, a Payment Processing Giant, Looks Beyond the Swipe - StreetFight - "Senior Vice President of First Data Ventures Peter Donat said the partnership will allow First Data to improve its analytics platform, which uses sales information to create actionable solutions for small to midsized businesses."
  • This is how PayPal will take over your phone - VentureBeat - "Braintree’s new SDK, combined with this new payment feature, has the potential to make PayPal the go-to payments destination for mobile consumers and developers alike."
  • Forget Passwords. Now Banks Can Track Your Typing Behavior On Phones - Forbes - “We’re monitoring the small stuff,” says Neil Costigan, founder of Behaviosec, the Swedish security startup behind the recent roll-out. “The flight between the keys, which corners of the keys you tend to hit, where you pause."

On the Wires:

Updates from Glenbrook:

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

August 19, 2014

Braintree and PayPal Bring Developers One Touch Mobile Payments

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

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

Headline News from PaymentsNews.com - August 19, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

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

August 18, 2014

Headline News from PaymentsNews.com - August 18, 2014

On the Web:

  • Hostility in Payments - LinkedIn (Scott Loftesness) - "The recent entry of Amazon.com into the small merchant mobile POS card acceptance market may signal the last phase of increasing hostility in the US merchant acquiring segment of the card payments business."
  • Host Card Emulation 101 (White Paper) - Smart Card Alliance - "This white paper was developed by the Smart Card Alliance Mobile and NFC Council to provide an educational resource on host card emulation (HCE), describing what it is, how it’s used, how it compares with the secure element (SE)-based card emulation approach, what key considerations are for payment applications, and what security aspects should be considered for HCE-enabled applications."
  • Banks, Retailers Speed Up Drive to Add Chips to Credit, Debit Cards - Wall St. Journal - "Although the cards still have a magnetic strip on the back to be used at merchants that haven't upgraded their technology, the computer chips don't work with a swipe at the register. Instead, shoppers slide the card into the bottom of the terminal and leave it there while the purchase is processed."
  • Three Trends That Will Make A Difference In Mobile Payments - TechCrunch (Alberto Jimenez) - "Those with a history in the mobile payments industry know that it has been a slow (and mostly disappointing) journey."
  • Coinbase Acquires Blockr.io, Welcomes New Staff - Coinbase Blog - "Today, we’re excited to announce that Coinbase has acquired Blockr.io. As part of the acquisition, we’re able to welcome two of its exceptionally talented employees to the Coinbase team: software engineer Sašo Matojina and designer Samo Drole."
  • CFPB Warning Ignores Bitcoin’s Consumer Protections - CoinDesk (Jon Matonis) - "While we should definitely heed the risks within a digital currency environment, just as we heed the risks inherent with physical money, we should be equally aware of the additional financial protections provided by bitcoin that are so critical for maintaining a free society."
  • How Bitcoin might transform international payments — a lifeline for millions - VentureBeat - "Remittance payments are a lifeline. ... Many of the financial institutions that move money back and forth charge exorbitant fees to keep that lifeline open—sometimes ten percent or more."

On the Wires:

  • Simon And Blackhawk Network Expand Relationship With Enhanced Visa Simon Giftcard - "Blackhawk's product gives us access to more consumer demanded features and the new deal will allow consumers to have the added convenience of buying our newly branded Simon Giftcard at participating Blackhawk distribution locations nationwide."
  • Navicure Launches New Patient Payment Platform - “To continue to thrive, healthcare organizations must collect patient payments at or near the time of service and no longer rely solely on patient statements, which can come months after care and long after the patient remembers what procedures were performed."

Updates from Glenbrook:

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

August 15, 2014

Headline News from PaymentsNews.com - August 15, 2014

On the Web:

  • Why So Many Card Breaches? A Q&A - Krebs on Security - "For example, in my own economic analysis of the 40 million cards stolen in the Target breach, I estimate that the crooks responsible for that breach managed to sell only about 2-4 percent of the cards they stole."
  • Paper Boys - Inside the Dark, Labyrinthine, and Extremely Lucrative World of Consumer Debt Collection - New York Times Sunday Magazine
  • First Data vows lower fees in entry to Brazil payment market - Reuters - "First Data Corp plans to enter Brazil's card payment processing market through lower fees and additional services, a sign that robust demand for plastic money in Latin America's largest economy may not be enough for newcomers to gain market share."
  • On Prepaid - Finsurgency (Matt Harris) - "It is telling that the latent threat to financial institutions was always Wal‐Mart, and, in fact, prepaid partnerships with GreenDot and American Express enabled that latent threat to become very real."
  • Yahoo Dusts Off E-Commerce Service to Juice Revenue - Wall St. Journal Digits Blog - "In addition to renaming the service to Yahoo Stores, the company has added new tools for handling payments and building mobile versions of their storefronts, said Amit Kumar, head of Yahoo Small Business, in an interview."
  • For Merchants, Bitcoin Shows More Pop Than Potential - New York Times Dealbook - "There are benefits for merchants in offering Bitcoin as a payment option — lower processing fees rank high on the list — but some have questioned whether accepting virtual currency amounts to anything more than a marketing gimmick."
  • German Startup Says Its New Chip Halves Bitcoin Mining Energy - Wall St. Journal Digits Blog - "A German start-up is looking for funding to produce a new high-performance microchip that it says would make bitcoin mining much less energy intensive, and thus cheaper."

On the Wires:

Updates from Glenbrook:

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

August 14, 2014

Headline News from PaymentsNews.com - August 14, 2014

On the Web:

On the Wires:

  • BitPay Expands San Francisco Office - "As part of the recent growth, the company has named Sonny Singh as its Chief Commercial Officer to oversee all sales operations. With over 15 years of experience in helping to grow tech companies, Sonny will be responsible for increasing BitPay’s customer base of over 40,000 merchants."
  • DISH Accepts Its First Bitcoin Payment - "Austin and Beccy Craig, the stars of a new documentary film “Life on Bitcoin,” were the first DISH customers to pay with the digital currency. The Craigs spent the first 101 days of their marriage paying exclusively with bitcoin. The documentary will soon be released chronicling their adventure and educating viewers about bitcoin."

Updates from Glenbrook:

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

August 13, 2014

Amazon.com Introduces Amazon Local Register Mobile POS Solution

Amazon logo 140pxAmazon.com has introduced Amazon Local Register, a secure card reader and mobile app that provides local businesses with the tools they need to quickly and easily accept credit and debit cards from a smartphone or tablet and keep track of their growing business.

From clothing stores to contractors, food trucks to accountants, businesses and organizations using Amazon Local Register will enjoy industry-leading low rates, trusted and secure payment processing, and access to award-winning customer support,” said Matt Swann, Vice President of Amazon Local Commerce.

“We understand that every penny and every minute counts, so we want to make accepting payments so easy and inexpensive that it no longer gets in the way of a business owner doing what they love - serving their customers and growing their business.”

The card reader is available now with Free Two-Day Shipping on Amazon.com. Beginning August 19, customers can also purchase a card reader at Staples retail locations nationwide. The Amazon Local Register card reader and free mobile app are compatible with a variety of smartphones and tablets, including Apple devices running iOS7, Kindle Fire tablets, select Android smartphones, and coming soon to the Amazon.com Fire phone.

Amazon is aggressively pricing Local Register - offering customers who sign up for before October 31 a low promotional rate of 1.75 percent per card swipe on all major credit and debit cards until January 1, 2016 - at which time the rate increases to 2.5%. Additional details are available at localregister.amazon.com.

Headline News from PaymentsNews.com - August 13, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

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

August 12, 2014

Headline News from PaymentsNews.com - August 12, 2014

On the Web:

  • Back to Square One - Fast Company (Austin Carr) - "There's need for the urgency. Square's Reader and Register products are no longer unique; a slew of upstarts and big rivals such as PayPal, NCR, and VeriFone now offer their own equivalent iPad systems, which threaten to eat away at Square's merchant share and payments business."
  • Reviewed: Xapo’s Bitcoin Debit Card - CoinDesk - "Upon debut, CoinDesk finds that the Xapo Debit Card has potential to be a useful bitcoin spending tool, but there are a few hiccups it must overcome first."
  • Shift Is Developing A Debit Card That Lets You Spend Digital Currency, Loyalty Points And Regular Money - TechCrunch - "In the San Francisco Bay Area and elsewhere in the world, 100 people are testing out a debit card that lets them pay with bitcoin and Ripple, and, in the future, regular money and loyalty points."
  • Partnering with Clover & First Data - GoodLabs Blog - "With such massive scale, we were obviously thrilled to launch our first in-store integration on their Clover platform, and we can’t say enough awesome things about partnering with them."
  • First Data: Gyft Deal Will Help Us Evaluate Bitcoin - CoinDesk - "...though the focus of the acquisition was Gyft’s mobile gift card platform, the company intends to take advantage of Gyft’s position in the bitcoin space to further its knowledge of emerging payment methods."
  • Black Hat 2014: A New Smartcard Hack - IEEE Spectrum - "The U.S. scheme is a mixture, with some banks issuing chip-and-PIN cards and others going down the signature route. We may therefore be about to see a large natural experiment as to whether it is better to authenticate transactions with a signature or a PIN."
  • Improving Mobile Security with Biometrics - Portals and Rails Blog - "No matter what biometric authentication methodology a system uses, the most important step is validating each customer's biometrics upon enrollment in the program."
  • New York Prosecutors Charge Payday Loan Firms With Usury - New York Times - "Beneath the dizzying corporate structure, prosecutors said, was a simple goal: make expensive loans even in states that outlawed them."

On the Wires:

  • FleetCor Agrees to Acquire Comdata for $3.45 Billion - "As an issuer and a processor, Comdata provides fleet, virtual card, and gift card solutions to over 20,000 customers. It has approximately 1,300 employees and enables over $54 billion in payments annually."
  • Square Announces New Accounting and Inventory Integrations for Canadian Businesses - "Square's partner platform connects Square sellers with new applications that complement Square's register service. Continuing to build upon Square's powerful, affordable and accessible business solutions, the QuickBooks Online, Xero and Stitch Labs integrations are designed to simplify operations for businesses throughout Canada."
  • Digital River Expands Its Brazil Payments Offerings for Online Merchants - “Brazil is the fourth largest payment card market in the world,” said Souheil Badran, senior vice president and general manager of Digital River World Payments. “A number of our clients view Brazil as a strategic growth opportunity. We can help them navigate this highly complex market for cross border commerce, improve their authorization and conversion rates, and control overhead costs and risks associated with managing their own local entities.”
  • TSYS Enables Secure Commerce with Tokenization - "The proliferation of “card-on-file” models, both remote and proximity, has created an industry need to produce and use tokens including: card-on-file at a merchant’s cart, digital wallets, QR and Bar codes, NFC and chip."
  • CFPB Warns Consumers About Bitcoin - "“Virtual currencies may have potential benefits, but consumers need to be cautious and they need to be asking the right questions,” said CFPB Director Richard Cordray. “Virtual currencies are not backed by any government or central bank, and at this point consumers are stepping into the Wild West when they engage in the market.”
  • Fiserv White Paper Outlines the Unique Mobile Banking Needs of Business Customers - “With more businesses using digital banking services, there is a focus on providing specialized mobile banking capabilities which cater to the needs of this attractive market segment,” said Teri Carstensen, division president, Bank Solutions, Fiserv.
  • American Express unveils The Centurion(SM) Lounge in New York LaGuardia Airport - “New York might be the city that never sleeps, but our Card Members can now find an oasis at LaGuardia Airport to relax and refresh when they’re traveling into and out of the city,” said Lisa Durocher, Senior Vice President, Consumer Charge Cards & Benefits at American Express. “As our third Centurion Lounge, opening the LaGuardia Airport location marks a huge milestone for us, and brings us closer to our goal of creating a better airport experience for our Card Members.”
  • Commerce Bank Introduces the USA Triathlon Visa® Rewards Credit Card - “We are excited to enter into a relationship with USA Triathlon and to offer their members a customized credit card as way to show their support for the organization and enthusiasm for one of the fastest growing sports in the U.S. Olympic movement,” said Chad Doza, Senior Vice President of Consumer Credit Card.

Updates from Glenbrook:

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

August 11, 2014

Headline News from PaymentsNews.com - August 11, 2014

On the Web:

  • Mobile-Payments Firms Order Up New Strategy: Restaurants - Wall St. Journal Digits Blog - "Priceline’s OpenTable unit, which it bought this year for $2.6 billion, is set to announce Monday it will expand a restaurant-focused payment app nationwide, from a test in about 20 restaurants in San Francisco."
  • Who Wants Automated Fraud Alerts? 91% of People - FICO Banking Analytics Blog - "Banks in the UK and some other countries brought fraud levels much lower, then focused on how to make the purchase process much more streamlined. This has allowed fraud losses to rise."
  • Simplifying the Bull: How Picasso Helps to Teach Apple’s Style - New York Times (Brian X. Chen) - "Steven P. Jobs established Apple University as a way to inculcate employees into Apple’s business culture and educate them about its history, particularly as the company grew and the tech business changed."

On the Wires:

Updates from Glenbrook:

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

August 08, 2014

Headline News from PaymentsNews.com - August 8, 2014

On the Web:

  • Credit Scores Could Rise With FICO’s New Model - New York Times - "Because of the new scoring model, individuals with a median score of 711 — and an otherwise clean credit history, except for unpaid medical debts — may see their FICO score rise by 25 points."
  • How Uber Explains Our Economic Moment - HBR Blogs (Andrew McAfee) - "My driver said he’d been with Uber ever since he’d graduated from his master’s program in IT project management last year. This profession was, according to him, going through hard times."
  • How Bitcoin Went Legit - Management Today (UK) - "Charlotte Bowyer, head of digital policy at think tank the Adam Smith Institute, says the signs are there that the Bitcoin community is beginning to get serious about professionalising the currency..."
  • How Innovation in Payments Can Drive Local Marketing - StreetFight - "What we’re doing is making that more efficient, and, as a side benefit, simplifying the advertising infrastructure so that payment components can be given away for free."
  • Intuit Acquires UK-Based Payroll Service PaySuite - TechCrunch - "PaySuite is one of the larger providers of payroll software in the U.K. The company says that the partnership will help them to continue development for “small businesses, accountants and bookkeepers across the U.K. and around the world.”"
  • Gemalto Buys SafeNet for $890 Million - Wall St. Journal - "Gemalto said Friday that U.S.-based SafeNet's network data protection offering, which includes cryptographic systems used in cloud-based security, was a good fit with its authentication technology."
  • Oh Thank Heaven, Even 7-Eleven Has a Venture Capital Arm - Re/code.net - "The company sees itself not just as a place to get a hot dog or nachos, but potentially as the first or last mile for all manner of commerce."

On the Wires:

  • FICO Score 9 Introduces Refined Analysis of Medical Collections - "This latest version of the FICO® Score, the industry-standard measure of U.S. consumer credit risk, captures recent consumer behavior to give lenders better risk assessments across the credit lifecycle and all credit products."
  • TSYS Releases Payment Security White Paper - "The white paper suggests issuers are actively engaged in steps to establish a stronger payments ecosystem that includes layered security measures — such as card tokenization, EMV, adaptive risk-based 3D Secure and cardholder alerts — along with strong customer education to provide assurance which in turn increases usage and loyalty."

Updates from Glenbrook:

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

August 07, 2014

Headline News from PaymentsNews.com - August 7, 2014

On the Web:

  • Over a Billion Passwords Stolen? - Schneier on Security - "As expected, the hype is pretty high over this. But from the beginning, the story didn't make sense to me."

On the Wires:

  • New Visa Service to Help Gas Station Retailers Reduce Fraud at the Pump - “Visa Transaction Advisor uses sophisticated analytics based on the breadth and scale of VisaNet data to flag the riskiest transactions,” said Mark Nelsen, Vice President of Risk Products and Business Intelligence, Visa Inc. “By working with fuel companies to understand their needs, we were able to create a new service that builds on Visa’s predictive analytics capabilities, providing fuel merchants with more intelligence to prevent fraud and improve their bottom line.”
  • Federal Reserve Board issues Report on the Economic Well-Being of U.S. Households - "In its new Report on the Economic Well-Being of U.S. Households, the Federal Reserve Board provides a snapshot of the self-perceived financial and economic well-being of U.S. households and the issues they face, based on responses to the Board's 2013 Survey of Household Economics and Decisionmaking."

Updates from Glenbrook:

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

August 06, 2014

Headline News from PaymentsNews.com - August 6, 2014

On the Web:

  • Global Payments Signs Referral Agreement with BitPay to Offer Bitcoin Payment Acceptance - "We focus on delivering innovative products and services to our global customer base, and this relationship provides us the ability to offer our merchants an integrated digital currency payment choice," said David Mangum, President and Chief Operating Officer for Global Payments. "We are pleased to partner with BitPay to provide next-generation payment solutions to our customers."
  • New Digital Currency Aims to Unite Every Money System on Earth - Wired - "Stellar can help take digital currency beyond rather insular projects like bitcoin and litecoin, melding it with fiat currencies and extending its advantages to the average internet consumer."
  • Improved email receipts - Stripe - "We're excited to share a couple of improvements to our email receipts!"
  • Apple, Samsung Call Patent Truce Outside U.S. - "The two technology giants agreed to dismiss all patent disputes between them in courts outside the U.S., marking an easing of tensions between the bitter rivals of the smartphone wars."
  • The Slow Recovery in Consumer Spending - Liberty Street Economics Blog (Federal Reserve Bank of New York) - "In particular, it appears that households remain—almost five years after the end of the recession—wary about their future income growth and employment prospects."
  • Simon expands iBeacon program to outfit more smart malls - Mobile Commerce Daily - "Simon’s deployment of Mobiquity’s Mobi-Beacon network, already in place in 75 of its premier shopping destinations, provides a unique, opt-in opportunity for customers to engage with retailers, brands and mall apps for timely and contextually relevant personalized offers, information and real-time experiences."
  • Retailers Who Take Bitcoin Love It - Mashable - "For them, the currency is a viable, preferable alternative to credit cards that don't carry the same risk of fraud and have lower transaction fees."
  • New Strategy as Tech Giants Transform Into Conglomerates - "The goal is no longer building a business but to be in the orbit of these tech giants. Or to put it another way, to win the lottery."

On the Wires:

Updates from Glenbrook:

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

August 05, 2014

Headline News from PaymentsNews.com - August 5, 2014

On the Web:

On the Wires:

  • Newegg Adds Visa Checkout to Streamline the Shopping Experience - “Visa Checkout is a great service that helps our customers make their purchases on Newegg quickly and conveniently,” said Soren Mills, Chief Marketing Officer of Newegg North America. “It removes much of the tedium inherent to the online checkout process, especially for our customers who like to shop on mobile devices.”
  • Citi to Source $2.5 Billion to “Power Africa” - Jim Cowles, CEO of Citi for the Europe, the Middle East and Africa region, said, “We are proud to be a partner in this phenomenal project, an initiative to double the number of people who have access to electricity across Africa. Citi has a unique footprint in Africa and a commitment to enabling progress on the Continent through our technical expertise, financing and risk mitigation tools.”
  • Paychex Announces Payroll Card Solution for Small- and Medium-Sized Businesses - "NetSpend ... will serve as the exclusive program manager and processor for the Skylight PayOptions Program. BofI Federal Bank, Member FDIC, issues the Skylight ONE Prepaid MasterCard."

Updates from Glenbrook:

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

August 04, 2014

Headline News from PaymentsNews.com - August 4, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

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

August 01, 2014

Headline News from PaymentsNews.com - August 1, 2014

On the Web:

On the Wires:

  • It's a slow news day! Enjoy your summer!

Updates from Glenbrook:

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

July 31, 2014

Headline News from PaymentsNews.com - July 31, 2014

On the Web:

On the Wires:

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

Updates from Glenbrook:

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

July 30, 2014

Headline News from PaymentsNews.com - July 30, 2014

On the Web:

On the Wires:

  • First Data Announces Agreement to Acquire Gyft, the Leading Digital Platform that Enables Consumers to Buy, Send, Manage and Redeem Gift Cards Using Mobile Devices - “Gyft, with its mobile gifting platform, and First Data, with its global scale and distribution network, together will accelerate the growth of virtual prepaid with powerful new tools for merchants of all sizes to deepen their relationships with their customers,” said Guy Chiarello, president, First Data. “This means that the same robust toolset deployed by big box retailers will be coming soon to small- to mid-sized businesses, perfectly synched with our mission to offer innovative solutions to help our clients grow.”
  • Amazon Announces Additional US $2 Billion Investment in India - "We see huge potential in the Indian economy and for the growth of e-commerce in India. With this additional investment of US $2 billion, our team can continue to think big, innovate, and raise the bar for customers in India. At current scale and growth rates, India is on track to be our fastest country ever to a billion dollars in gross sales."
  • BitPay's New Plan: Free, Unlimited, Forever - “When we started BitPay in 2011, we saw an opportunity to finally give merchants around the world relief from interchange fees. By offering a basic plan that is free and unlimited, forever, we give merchants yet another reason to be excited about bitcoin.”
  • Bank of America Changes the Game With Preferred Rewards - “Preferred Rewards is the first program of its kind to offer clients benefits and rewards for everyday banking,” said Dean Athanasia, president of Preferred Banking at Bank of America. “It is the result of deep client research to develop and deliver a simple program that provides clients benefits and rewards they will actually use, and shows them how much we appreciate it when they choose to do more business with us.”
  • Blackhawk Network and Amazon Offer New Mobile Wallet Capabilities - "Blackhawk Network's expertise in gift card management provides our customers with access to the retailers they want and the digital experience that Amazon is committed to delivering," said Charlie Kindel, Director, Amazon Local Commerce. "Together we are helping consumers get the full value of their gift cards with the safety and convenience of storing them digitally. Instead of fearing they might lose or forget about them, they can have them on hand to use wherever and whenever they choose."
  • Heartland Payment Systems to Acquire TouchNet Information Systems, Inc. - “I am extremely pleased to announce the acquisition of TouchNet, which is not only Heartland’s largest acquisition to date, but is also an excellent complement to our existing Campus Solutions business that will immediately improve our growth profile and contribute to our bottom line,” said Robert O. Carr, chairman and CEO of Heartland Payment Systems.
  • Boku Unlocks India for Mobile Payments - “We knew early on that Qubecell had the right approach, the right people, and the right technical capacity to be a great fit with Boku,” said Jon Prideaux, CEO of Boku. “Now that our integration is complete we are providing existing Boku merchants – including top social media networks and global games companies -- with the very best access to the Indian market. Indian companies also now have access to Boku’s global network."
  • New Fiserv White Paper Outlines Immediate Mobile Payments Opportunities for Financial Institutions - "Titled “The Four Pillars of Mobile Payments: Immediate Opportunities,” the white paper outlines how a strategic approach to mobile payments starts with the services consumers are using today."

Updates from Glenbrook:

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

July 29, 2014

Headline News from PaymentsNews.com - July 29, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

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

July 28, 2014

Headline News from PaymentsNews.com - July 28, 2014

On the Web:

On the Wires:

  • Coming Soon!

Updates from Glenbrook:

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

July 25, 2014

Headline News from PaymentsNews.com - July 25, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

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

July 24, 2014

Visa Launches Visa Digital Solutions

Visa 2014 logo 140x60In a press release this morning titled "Visa Enables Internet-Connected Devices to Become Secure Commerce Vehicles", Visa has announced the creation of Visa Digital Solutions - calling it a comprehensive suite of offerings that facilitate secure payments across a broad range of Internet-connected devices and wearables.

Visa Digital Solutions provides the standards, tools and services to turn any Internet-connected device into a secure vehicle for commerce,” said Sam Shrauger, senior vice president, Visa Inc.

“Smartphone manufacturers can securely load a Visa account within a device, merchants can directly embed Visa payment functionality into their mobile apps and financial institutions can offer mobile and online payments as part of their mobile banking applications.”

In terms of support for new payment methods using smartphones, Visa highlights:

  • Wave-to-pay: Visa recently published a software development kit (SDK) to make it easier for merchants, financial institutions and application developers to embed Visa payWave, Visa’s mobile payment technology, into their mobile applications. Issuers now have the option to host the Visa account information in a virtual cloud or in a secure chip on the mobile device.

  • Scan-to-pay: In June Visa published an initial specification for presenting Visa account information in the form of a Quick Response (QR) code. The specification provides retailers with a new, secure option to accept a Visa payment by simply scanning a QR code on a smartphone screen.

  • Click-to-pay: Last week Visa announced the launch of Visa Checkout, a quick and easy payment service that enables consumers throughout the United States, Canada and Australia to pay for goods online, on any device, in just a few clicks. Visa’s application programming interfaces (APIs) for Visa Checkout are available to merchant developers, as well as SDKs for in-app payments.

In terms of technology that helps protect consumers, Visa highlights its tokenization efforts. In September, it will introduce an innovative tokenization service that strengthens payment security while facilitating industry innovation. Tokens replace the 16-digit account information found on plastic cards with a numeric substitute, facilitating payment transactions without sharing sensitive account information.

Visa Digital Solutions will initially be available through the Visa Ready program, which provides innovators a path for the certification of devices, software and solutions used to initiate or accept Visa payments. Visa will also launch an extended Developer Center in early 2015, providing product specifications, APIs, SDKs, as well as implementation guidelines for financial institutions, merchants and third-party payment providers.

Separately, LoopPay has announced it has secured an investment from Visa Inc. “Visa continually evaluates and invests in new technologies that have the potential to transform mobile devices into secure payment vehicles,” said Jim McCarthy, senior vice president of innovation and strategic partnerships, Visa Inc. “LoopPay has developed compelling technology that has the potential to enable merchants to accept payments from mobile devices using their existing point-of-sale infrastructure.”

Headline News from PaymentsNews.com - July 24, 2014

On the Web:

On the Wires:

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

Updates from Glenbrook:

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

July 23, 2014

Headline News from PaymentsNews.com - July 23, 2014

On the Web:

On the Wires:

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

Updates from Glenbrook:

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

July 22, 2014

Headline News from PaymentsNews.com - July 22, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

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

July 21, 2014

Headline News from PaymentsNews.com - July 21, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

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

July 20, 2014

Last Call: Data in Payments Workshop this Wednesday

GP Logo Horizontal 140pxLast call for this workshop coming up this Wednesday in Mountain View, California.

Everyone is saying that "data's where the money is." Big data, small data, transaction data - we all know intuitively that this is important.

But what is payment data, really? How detailed is it? And, most important, who has access to it - and the ability to use it - at what point in the purchase value chain?

Glenbrook's Data in Payments Workshop takes apart these questions, and provides you with a comprehensive understanding of where the value of payments data is, and why it is important.

The next session of this workshop led by Glenbrook's Russ Jones will be held this Wednesday, July 23, 2014 at the Computer History Museum in Mountain View, California.

For details on the agenda and registration, see this workshop page.

July 17, 2014

A Look at PayPal's 2Q2014 Financial Results

PayPal new 140pxPayPal's parent eBay has announced financial results for 2Q2014.

PayPal net total payment volume (TPV) grew 29% with Merchant Services volume up 35% and on-eBay volume up 13%. Revenue grew to $1.9 billion. PayPal gained 4.0 million new active registered accounts to end the quarter at 152 million, up 15%. Global on-eBay penetration increased to 79.8%.

PayPal signed a deal with GE to extend its relationship offering a dual branded retail credit card and committed to purchase the loan portfolio in 2016 for an estimated $1 billion, based on the size of the portfolio at that time. This provides PayPal with flexibility to expand its credit offerings to consumers and merchants while improving its ability to manage transaction expense and reinvest back into the business to accelerate payment volume growth.

eBay reports that the PayPal 'take rate" was 3.53% in 2Q2014, down slightly from 3.55% in the prior quarter and down from the 3.79% reported a year earlier. Transaction expenses were 0.95%, down slightly from 0.99% in the prior quarter. The loss rate was 0.28%, up 1 basis point from the prior quarter.

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