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May 17, 2017

Headline News from PaymentsNews.com - May 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

  • Apple Pay launches in Italy with support from UniCredit and Carrefour Banca - NFC World - "Apple Pay has begun rolling out across Italy with support for Mastercard and Visa cards issued by Carrefour Banca and UniCredit, with American Express, CartaBCC, ExpendiaSmart, Fineco Bank, Hype, Banca Mediolanum, N26 and Widiba listed as “coming this year”. The launch takes Apple Pay to a total of 16 markets globally."
  • FinTech Alternatives to Short-Term Small-Dollar Credit: Helping Low-Income Working Families Escape the High-Cost Lending Trap - Harvard Kennedy School - "The focus of this paper is the most promising alternative to the current short-term, small-dollar credit (“STSDC”) system serving low-income working families --the rapidly growing U.S. financial technology software –or “FinTech”--industry."
  • Xapo to Pass On Bitcoin Network Fees to Users - Coindesk - ""Due to the increase in transaction volume of the bitcoin network, we'd like to give our users some control over their transactions. That being said, Xapo will give you the ability to select which type of fee you'd like to pay – a standard or high priority fee – thus allowing you to choose how quickly you'd like for your transaction to be processed!""
  • Starbucks Payment Systems Crash After Company Updates Technology - Bloomberg - "Starbucks Corp., the world’s biggest coffee-shop chain, suffered crashes at some of its payment systems following a routine technology update. The problems struck cafes in North America, preventing an unspecified number of registers from working, according to company spokesman Reggie Borges."

ON THE WIRES

  • Global Payments Introduces Xenial™: An Industry-First, Cloud-Based Restaurant Management Platform - "Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology services, today announced the release of Xenial. Launched by Heartland Commerce, a subsidiary of Global Payments, Xenial is revolutionizing the restaurant industry by bringing to market a first of its kind cloud-based, operating system-agnostic global platform. Leveraging Software as a Service (SaaS), Xenial delivers powerful and easy-to-use technology to restaurant operators of any size."
  • China's biggest mobile payment service launches in Toronto - "Tourism Toronto announced today a new strategic partnership with OTT Financial Group that introduces the Chinese mobile payment service, WeChat Pay, into local tourism businesses to boost travel and shopping consumption by Chinese travellers. WeChat is China's largest mobile messenger app with 840 million active users who can use the app to buy products and book travel. OTT is working with Tourism Toronto to set up the mobile payment infrastructure, making it the first partnership of its kind in Canada. "
  • Grubhub Partners with Point of Sale Leaders to Create Streamlined Restaurant Management Solutions - "Grubhub, the nation's leading takeout marketplace, today announced its integration with industry-leading point of sale (POS) systems, Breadcrumb POS by Upserve and Toast. Restaurants using these systems can now manage all of their orders, both in-house and takeout, from one device. The new integration will also allow restaurants to more efficiently staff, save time on menu updates, consolidate financials and free up space on the crowded delivery tablet counter."
  • Coupa Payments to Digitize Global Supplier Payments - "Coupa Software (NASDAQ:COUP), a leader in cloud-based spend management, will launch Coupa Payments today to streamline the disparate and complex cross-border payment systems often used by buyers to transact with suppliers globally. Coupa Payments will help unify those systems by digitizing supplier payments and automating related payment processes with a cloud e-payables solution where nearly any supplier - regardless of size or location - is paid electronically and securely. Electronically-rendered payments enable suppliers to receive funds faster while customers enjoy a discounted payment amount. Moreover, customers benefit from Coupa Payments through reduced Accounts Payable costs, increased efficiency, and stronger supplier relationships."
  • Masterpass by Mastercard Gives U.S. Bank Customers Freedom to Shop Across Devices and Channels - "From purchasing a train ticket, buying groceries, splitting the check or paying right at a restaurant table, Masterpass simplifies the checkout experience across a wide array of retailers. U.S. Bank customers that use Android devices can use this service at more than six million contactless-enabled merchants across the globe. Masterpass is also accepted at hundreds of thousands of merchants for seamless online and in-app payments."
  • WEX Signs Multi Country Long-Term Fuel Card Processing Deal with Chevron - "Chevron, a leading global integrated energy company, has selected WEX to develop, support and manage a fuel card processing platform for Chevron in 5 countries namely, Singapore, Hong Kong, Malaysia, Thailand and the Philippines. The second pillar of the deal includes an agreement to process Chevron’s fuel cards over the next 10 years."
  • Optimism Trends Upward and Growth is Top Priority, Says American Express OPEN Small Business Monitor - "Optimism among small business owners is on the rise, according to the 2017 American Express OPEN Small Business Monitor. The annual survey found that nearly three quarters of business owners have a positive outlook on the economy and their own business prospects over the next six months (72%, up from 64% 2016 and 67% 2015). This rosy outlook is translating into immediate plans for growth. Business owners have made growth their single most important priority, surpassing keeping/maintaining current business and sources of revenue for the first time since Spring 2011."
  • Wells Fargo Explores the Future of Security & Authentication - "Wells Fargo (NYSE:WFC) announced today that it has selected two new companies – ProxToMe and Uniken – to join the Wells Fargo Startup Accelerator. Each participant in the non-exclusive, six-month program is eligible to receive up to $500,000, mentoring, and guidance in refining their potential breakthrough technologies for the financial services industry. Wells Fargo business and technology leaders will work closely with the companies to test concepts for corporate and retail customers while helping them accelerate time to market for their services."

GLENBROOK PAYMENTS EDUCATION EVENTS

Understanding and managing the accelerating pace of change in payments has never been more important. Get the knowledge you need fast at one of our two day Payments Boot Camps. Our one day Insight Workshops follow each Boot Camp and are deep dives into key topics such as digital payments and the global phenomenon of real-time push payments. Take a discount for attending all three days. Our workshop schedule is all set for the fall. Check it out here. We hope to see you soon!

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!

May 16, 2017

Headline News from PaymentsNews.com - May 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

  • ‘Alexa, pay my AmEx bill…’ - Chain Store Age - "American Express cardholders are now only a voice-command away from browsing their account or paying their bill. The credit card company is expanding its partnership with Amazon by launching its new Amex skill for Amazon Alexa. The skill brings select experiences of AmericanExpress.com and AmEx’s mobile app to Amazon’s voice service Alexa, within devices like Amazon Echo and Echo Dot."
  • Samsung Pay finally arrives in UK - Finextra - "Samsung's long-awaited push into the UK market for mobile payments is finally over. Originally scheduled for release in 2016, the app is set to make its debut on compatible user devices later today. "
  • Goldman Sachs Sees Big Potential for Fintech in Brazil - New York Times DealB%k - "Brazil is experiencing a wave of growth in financial technology that will most likely eat into the market share of the country’s huge and long untouchable banks, a new report from Goldman Sachs says."
  • NORDSTROM ROLLS OUT NEW REWARDS CREDIT CARD IN CANADA - Cards International - "Nordstrom, an upscale department store operator in the US, has expanded its loyalty programme in Canada by introducing a new Nordstrom Rewards Visa credit card. The new card will be offered through British credit card provider MBNA, a division of The Toronto-Dominion Bank."
  • From Kill Switch To Bitcoin, 'WannaCry' Showing Signs Of Amateur Flaws - NPR - "Cops have a decent shot at catching run-of-the-mill online scammers — say, the guy selling a car that's just too good to be true on Craigslist. But catching ransomware attackers is generally much more difficult — unless they slip up. The criminals behind the "WannaCry" ransomware attack may have done just that. Experts are now seeing some amateur flaws emerging including an easy-to-find kill switch and the unsophisticated way the attackers are demanding Bitcoin from their victims."
  • Web-Retail Startups Turn for Growth to Bricks and Mortar - Wall Street Journal (Paywall) - "Casper Sleep Inc. rattled the mattress industry with a bed-in-a-box that is sold only online, shipped free and comes with a 100-night guarantee. But after three years of robust sales as it lured customers through Facebook ads and podcast sponsorships, Casper is finding it can no longer shun the storefront. The New York company is among several specialty web retailers shifting to brick-and-mortar stores after finding the pool of online buyers is only so deep."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Understanding how payments work and the impact of the accelerating pace of change in the industry has never been more important. Get the knowledge you need fast at one of our two day Payments Boot Camps. Our one day Insight Workshops follow each Boot Camp and are deep dives into key topics such as digital payments and the global phenomenon of real-time push payments. Take a discount for attending all three days. Our workshop schedule is all set for the fall. Check it out here. We hope to see you soon!

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!

May 15, 2017

Headline News from PaymentsNews.com - May 15

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

ON THE WEB

  • Vodafone's SAfrican arm Vodacom to take over stake in Kenya's Safaricom - Reuters - "Safaricom, which is 35 percent owned by Kenya's government, said in a statement the deal promoted the continued successful expansion of the company as well as the opportunity to take M-Pesa into other African markets."
  • Carrefour and BNP Paribas unveil “universal” mobile payments and loyalty service - NFC World - "Supermarket giant Carrefour and French bank BNP Paribas have unveiled a new QR code-based mobile payment platform that will let customers make in-store, online and peer-to-peer (P2P) mobile payments as well as store loyalty cards, coupons and special offers on their mobile device. The service will be rolled out across France this month with support from Crédit Mutuel, Auchan, Mastercard, Oney and Total."
  • All About Bitcoin, the Mysterious Digital Currency - New York Times - "As the hackers behind the global ransomware attack demand payment in Bitcoin, here is a look at the basics behind the electronic currency."
  • Bank of America Chats About Erica, Its New Digital Assistant - Wall Street Journal - "Bank of America Corp. plans to debut this year an AI-powered digital assistant named Erica, which consumers can chat with through voice or text message through the bank’s mobile app. Speaking Thursday at a financial technology summit, executives said the chatbot represents the bank’s measured approach to artificial intelligence, developing uses for the technology only in areas where the company thinks clients will truly benefit."
  • In Cashless Sweden, Even God Now Takes Collection Via an App - Bloomberg - "In the most cashless society on the planet, even God now accepts digital payments. A growing number of Swedish parishes have started taking donations via mobile apps. Uppsala’s 13th-century cathedral also accepts credit cards. The churches’ drive to keep up with the times is the latest sign of Sweden’s rapid shift to a world without notes and coins. Most of the country’s bank branches have stopped handling cash; some shops and museums now only accept plastic; and even Stockholm’s homeless have started accepting cards as payment for their magazine. Go to a flea market, and the seller is more likely to ask to be paid via Sweden’s popular Swish app than with cash."
  • Why Amazon is eating the world - TechCrunch - "I’ve followed AWS and Amazon’s other various offerings for some time, as well, and Amazon as a company has become something of a personal obsession of mine. I have some further thoughts on Amazon and the impending retail apocalypse that I wanted to share for those who are interested in the overall future of retail."
  • Why Alipay Is So Intent on ‘Ubiquity’ in North American Merchant Acceptance - Digital Transactions News - "When it comes to establishing merchant acceptance in North America, Alipay’s ambitions go well beyond niche markets. In fact, “When we’re looking at partners, we’re looking for ubiquity,” Souheil Badran, president of Alipay North America, tells Digital Transactions News in a wide-ranging interview."
  • COBOL Is Everywhere. Who Will Maintain It? - The New Stack - "Think COBOL is dead? About 95 percent of ATM swipes use COBOL code, Reuters reported in April, and the 58-year-old language even powers 80 percent of in-person transactions. In fact, Reuters calculates that there’s still 220 billion lines of COBOL code currently being used in production today, and that every day, COBOL systems handle $3 trillion in commerce. Back in 2014, the prevalence of COBOL drew some concern from the trade newspaper American Banker."
  • Global ‘Wana’ Ransomware Outbreak Earned Perpetrators $26,000 So Far - Krebs on Security - "As thousands of organizations work to contain and clean up the mess from this week’s devastating Wana ransomware attack, the fraudsters responsible for releasing the digital contagion are no doubt counting their earnings and congratulating themselves on a job well done. But according to a review of the Bitcoin addresses hard-coded into Wana, it appears the perpetrators of what’s being called the worst ransomware outbreak ever have made little more than USD $26,000 so far from the scam."

ON THE WIRES

  • Credit, Debit Card Fraud Alerts Up 15% Since 2015 - "Credit and debit card fraud alerts are up 15% from two years ago, according to a new CreditCards.com report. 31% of U.S. adults have received a fraud alert regarding a credit card and 25% have received one concerning a debit card."
  • Trulioo Launches ID Document Verification with Facial Comparison Technology - "Trulioo, the leading global identity verification company, has launched an ID document verification solution with facial comparison technology to provide an added layer of authentication to its comprehensive identity verification platform. The combination of electronic identity verification (eIDV) and ID document verification enables clients to strike the right balance of offering consumers a simple onboarding experience while ensuring the enterprise adheres to cross-border Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance requirements."
  • Digital, Decisive and Drone-Ready: American Express Commissioned Study Shows Gen Z’s Customer Experience Expectations - "The study findings show that Gen Z is already financially empowered, with 81% making purchases on their own, has mobile spending power, with 59% having made a purchase via mobile app in the last year and that they have high expectations from brands when it comes to gaining their trust. 46% of Gen Z respondents said that data security and privacy is a must-have to keep their business."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series will be in Atlanta, May 16-18. Come for the two day boot camp or attend all three days. For those of you who plan ahead, we have our fall schedule lined up, too. Check out our entire boot camp schedule here. We hope to see you soon!

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!

May 12, 2017

Headline News from PaymentsNews.com - May 12, 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

  • IPFA Cross Border Survey - IPFA - "The International Payments Framework Association (IPFA) is a non-profit association focused on improving cross-border payments through the adoption of shared standards and rules. We’re seeking input from payments industry professionals and users of payment systems on the state of play in cross-border payments and the adoption of real-time transfer capabilities for cross-border payments."
  • Trends in Consumer Mobility Report - Bank of America - "This spring’s report finds the exchange of funds through P2P is the new social ‘norm’, ultimately replacing the IOU. While millennials are spearheading the charge of adoption, use spans generations, genders and lifestyles. This growth is expected to increase drastically in the coming months, with its real-time speed, social use and new offerings as the top reasons to start using the service."
  • Chase outage knocks out payments service for customers nationwide - American Banker - "JPMorgan Chase customers nationwide on Thursday were prevented from making online and mobile payments, due to unspecified technology issues. Services including bill pay and Chase QuickPay — the company’s peer-to-peer payment service — went down around 4 p.m. and were restored aroudn 8:30 p.m. Eastern time, according to company spokesman Tom Kelly. He said the issue did not affect the company’s ATM or branch network, nor did it affect debit or credit card transactions."
  • UK Land Registry Plans to Test Blockchain in Digital Push - Coindesk - "The UK’s national land registry is looking to test blockchain technology as part of a wide-ranging digitization effort. Last month, HM Land Registry began searching for new board members and, in a notice published to its website, also detailed its plans for a so-called 'Digital Street' – an upcoming scheme the office hopes will improve the speed and efficiency by which titles change hands."

ON THE WIRES

  • HID Global Adds Trust to Online Transactions and Digital Access with HID Approve Mobile App - "HID Global®, a worldwide leader in trusted identity solutions, today announced a new app, HID Approve™, which turns a mobile device into a handheld validation device or “authenticator” that verifies online access and transaction requests, such as digital banking transactions or corporate VPN access. HID Approve adds a new level of trust for consumers and employees to transact securely. "
  • UnionPay International Supports Payment Interconnection among the Belt and Road Countries - "Now, UnionPay has presence in over 50 markets along the Belt and Road. UnionPay International CEO Cai Jianbo said, "Our strategy is to suit our measures to the local conditions in different markets, supporting the personnel exchanges between China and other regions and facilitating the 'Going Global' of China's financial standards.""

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series will be in Atlanta, May 16-18. Come for the two day boot camp or attend all three days. For those of you who plan ahead, we have our fall schedule lined up, too. Check out our entire boot camp schedule here. We hope to see you soon!

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!

May 11, 2017

Headline News from PaymentsNews.com - May 11, 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

  • UK facility takeover fraud jumps - Finextra - "Facility takeover fraud soared by 45% in the UK last year, as crooks hoovered up the personal data of victims and used it to gain control of bank and other accounts, says not-for-profit data sharing and prevention agency Cifas. In a report based on information from nearly 400 organisations, Cifas says that last year there were 22,525 cases of facility takeover - where a fraudster poses as a genuine customer, gains control of an existing account and uses it for their own ends, such as making transactions or ordering new products or product upgrades. "
  • BankThink: Fintech’s future is in the back end - American Banker - "Yet the longer-term objective of the fintech revolution — to improve the financial consumer’s experience — is still important and requires more work. A key step to getting there is fixing the mechanical flaws in the financial system. The excitement that had surrounded new consumer-facing products may give way to the critical yet less sexy discussion over how fintech can improve the financial services infrastructure."
  • Carr Takes Heartland Lessons To Heart at Beyond, His Latest Startup in Payments - Digital Transactions News - "Carr’s latest endeavor is Beyond, launched May 1, just over a year from the closing of Global Payments’ $4.3 billion acquisition of Heartland Payment Systems Inc. In addition to providing payment-processing services, Beyond’s product lineup includes point-of-sale, lending, vending, and integrated human-resources tools. Integrated payments products are available, too."
  • SSA.GOV To Require Stronger Authentication - Krebs on Security - "The U.S. Social Security Administration will soon require Americans to use stronger authentication when accessing their accounts at ssa.gov. As part of the change, SSA will require all users to enter a username and password in addition to a one-time security code sent their email or phone. In this post, we’ll parse this a bit more and look at some additional security options for SSA users."

ON THE WIRES

  • Visa and Cambia Health Solutions Collaborate to Accelerate Patient Health Care Payments with Visa Direct - "With the integration of Visa Direct technology into its payment platform, customers of Cambia’s family of companies will be able to receive health care reimbursements directly to their eligible debit cards, speeding up the payment process. This effort emerged from ongoing co-innovation efforts between Cambia and Visa to explore opportunities to modernize payment in health care. Visa Direct is a card-based platform that can deliver funds in near real-time to more than 1 billion eligible Visa card accounts, as well as non-Visa branded debit cards. Using VisaNet, the world’s largest payment network, it can reach nearly every consumer or small business with a debit card."
  • End of the IOU: P2P Payments the New ‘Social Norm’ - "It appears Americans have run out of excuses for not paying their friends back in a timely manner, whether it’s for a $5 latte or $2,500 vacation. A new survey released today finds 36 percent of adults currently use a person-to-person payments service (P2P), with millennials leading the charge at nearly double that rate (62 percent). What’s more, 45 percent of non-users say they plan to start using the service within the next year, foreshadowing exponential growth in the coming months."
  • First Data Unveils Clover Flex, Ushering in Next Generation of Smart Payments Technology - "As commerce evolves beyond the traditional storefront, so does the need for businesses to provide their customers with a seamless payment experience, regardless of where they check out. First Data (NYSE: FDC), a global leader in commerce-enabling technology, today launched Clover Flex, a smart payment terminal designed to fit comfortably as a handheld device or on the countertop. The latest addition to the Clover family, Clover Flex harnesses the full power of the Clover platform. Clover Flex can accept PIN entry, NFC, mag stripe transactions, electronic gift cards, and can process EMV chip cards in less than three seconds."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series will be in Atlanta, May 16-18. Come for the two day boot camp or attend all three days. For those of you who plan ahead, we have our fall schedule lined up, too. Check out our entire boot camp schedule here. We hope to see you soon!

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!

May 10, 2017

Headline News from PaymentsNews.com - May 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

  • Congressional efforts to kill CFPB prepaid card rule fall short - American Banker (Paywall) - "The Consumer Financial Protection Bureau's prepaid card rule appears to have survived Republican efforts to reject it using an obscure legislative process that has allowed the GOP to roll back more than a dozen Obama-era regulations."
  • In Kenya, Phones Replace Bank Tellers - New York Times - "In Africa the mobile phone is ubiquitous — the continent has skipped over landlines and gone straight to mobile. Smartphones are becoming more popular, but a vast majority of phones are basic $25 models. All apps with wide reach in Africa work via SMS. Nearly all Kenyan households have a mobile phone, and in nearly all those households, at least one person has an M-Pesa account."
  • Burger King Seeks Edge Over McDonald's in Mobile-Payment Battle - Bloomberg - "The contest to get the technology out first represents the next big battle for burger joints. Though Starbucks Corp. and pizza chains have been using mobile-ordering apps for years, the biggest fast-food companies are now trying to catch up. McDonald’s is planning its nationwide debut by the end of the year, potentially giving Burger King an opportunity to move ahead of its far-larger rival."
  • COMMENTARY: ISO 20022: The Foundation for Payments Modernization in Canada - Digital Transactions News - "ISO 20022 is an international standard, designed to exchange and simplify global business communication. It enables efficient payments among financial institutions around the world through the use of a common language. Through implementation of the standard, Canada will be better positioned to originate and receive cross-border payments, and that will empower Canadian businesses to become more competitive in the global economy. The use of a common language will also bring efficiencies to payments made within Canada, as payments system users will no longer need to manage or support the multiple standards currently used for domestic clearing and settlement."
  • Sequoia-backed startup Empower aims to replace your bank’s app - TechCrunch - "Empower, a startup looking to help millennials better manage their finances, is today launching its mobile app for iOS devices. The new application combines the ability to see an overview of your day-to-day transactions and spending behavior, with other tools to transfer money between accounts, automate your savings, and soon, pay bills and pay down your debt."
  • Try as They Might, Trendy Retailers Won't Kill Cash - Bloomberg - "According to a November 2016 study by the Federal Reserve Bank of San Francisco, physical currency is still the most frequently used payment method, followed by debit cards, which pull funds directly from a checking account. "Each company has its own business model," said J. Craig Sherman, the National Retail Federation's spokesman. "But by and large, cash is king, and retailers prefer cash." "
  • Could PSD2 implementation accidentally ruin the European FinTech market? - Payments Cards & Mobile - "In March 2017, the European Banking Authority (EBA) published the Regulatory Technical Standards (RTS) on Strong Customer Authentication (SCA) and common and secure communication (SC) under PSD2 which touch the very fundamentals of the Directive. However, the choices taken by the EBA have the potential to negatively impact FinTech businesses models, thus reversing what has been achieved by FinTech companies over the last years at the EU level."
  • Thailand to get standardised QR code payments in move towards cashless society - NFC World - "Mastercard, Visa and UnionPay International have introduced a standardised QR code platform for payments in Thailand that will let consumers make a transaction with their mobile device at any supporting location. The service has been designed to support the Bank of Thailand’s cashless agenda which aims to “drive innovation, interoperability and security in payments” across the country."
  • What Retailers Can Learn From Pizza Delivery: Convenience Rules - Retail Touch Points - "Whether they’re seeking out quick delivery, free returns, or an in-store experience, shoppers’ thirst for convenience is forcing retailers to spend more on their omnichannel fulfillment programs. While brands are certainly balancing a budget that may prevent them from achieving these goals, the Catalyst report suggests retailers need to think about offering free one-hour delivery from store-to-door, so that customers don’t have to go to the store to pick up merchandise."
  • It's a weird time for mobile payments - Mobile Payments Today - ""Apple Pay's biggest rival is the little pouch you can put on the back of your phone [to carry your credit card].""

ON THE WIRES

  • Cayan Announces Acquisition of Card Payment Services - "Cayan, a payment technology company, today announced it has acquired Card Payment Services (CPS), LLC., a Dallas, TX-based payments processing company specializing in the $75b waste removal vertical. CPS serves businesses throughout the country and processes in excess of $700 million in Visa and MasterCard transactions annually. In addition to waste haulers, CPS serves municipalities, waste equipment providers, transfer stations and other players within the waste space. Terms of the deal were not disclosed."
  • Western Union Digital Service Live in 40 Countries - "The Western Union Company (NYSE: WU), a leader in global payments, today announced that it has further strengthened its global digital money transfer footprint, with the activation of its 40th wu.com transactional website, now providing full digital access for cross-border person-to-person (P2P) money transfer services across major developed nations including the US, Canada and major parts of Europe."
  • Rooam Launches Payment Technology Platform with Instant Close Tab Feature, Revolutionizing the Hospitality Industry - "Rooam, provider of the premier payment platform for the nightlife and hospitality industry, announced today the official launch of its revolutionary mobile payment app that allows users to quickly open, view and close their tabs directly from their smartphones. A secure and hassle-free payment solution, Rooam reinvents the way users pay for their drinks and enjoy a night out. The app is available for free download on the App Store and Google Play."
  • Apple Pay Sees Double-digit Growth, Ties With PayPal - "Retailers are seeing more purchases with Apple Pay. New shopping data from Branding Brand shows in-app purchases with Apple Pay increased 17% from March 2017 to April 2017. For context, Apple Pay orders comprised 26% of overall shopping app purchases in March."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series will be in Atlanta, May 16-18. Come for the two day boot camp or attend all three days. For those of you who plan ahead, we have our fall schedule lined up, too. Check out our entire boot camp schedule here. We hope to see you soon!

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!

May 09, 2017

Headline News from PaymentsNews.com - May 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

  • First Data Agrees to Acquire Acculynk, a Pioneer in PIN Debit for Web-Based Transactions - Digital Transactions News - "The idea of allowing consumers to use PIN debit cards to pay online merchants has been a tough sell in the payments business, but observers hope a deal announced Thursday may give it a much-needed boost. Processing kingpin First Data Corp. said it will acquire Acculynk Inc., a 9-year-old Atlanta-based company that markets technology called PaySecure to enable buyers to use PIN-debit cards to make purchases on the Web via laptops or smart phones."
  • Alipay and WeChat Pay Make Push Into North America - Wall Street Journal - "Alipay and WeChat Pay, which allow Chinese consumers to pay for train tickets, groceries, movies and more with their smartphones, are expanding into North America—seeing a big market in the waves of Chinese traveling abroad."
  • Current launches a Visa debit card for kids that parents control with an app - TechCrunch - "A startup called Current is today launching a new way for parents to dole out allowances to their kids: with an app. The company offers a Visa debit card that would allow teenagers to shop in stores or online using funds from their own bank account, which is funded through allowance money that mom or dad transfers from their own bank account. Parents can use the accompanying mobile app to set chores, track spending, encourage saving and more, allowing kids to learn about money management through practice."
  • Canadian city rolls out mobile app that links payments for parking to a driver’s licence plate - NFC World - "Drivers across the Canadian city of London can now pay for parking at more than 3,100 spaces across the city — including all municipal parking lots and on-street spaces — using a mobile app that lets them “seamlessly search, pay for and top up parking from their phone or tablet”. The service is being rolled out by the City of London."
  • Bitcoin Price Tops $1,700 to Set New All-Time High - Coindesk - "At $1,700, bitcoin prices are up 70% already on the year and around $200 on the week, having climbed from $997 in January to set a string of new highs. Minutes before press time, bitcoin's new all-time high on the CoinDesk Bitcoin Price Index was $1,710.96."
  • Mcommerce Moving Closer to Mainstream in Germany - eMarketer - "Despite digital shopper penetration akin to the US and UK, rates of mobile commerce in Germany have lagged in relation to those countries. eMarketer predicts 29.1 million mobile device users in Germany ages 14 and older will make at least one purchase via those devices this year, up nearly 15% from 2016. But that tally will represent just 60.0% of Germany’s mobile device users, compared with rates of 80.4% in the US and 76.4% in the UK."

ON THE WIRES

  • First Data to Power Alipay in North America - "More than 450 million people globally use Alipay to pay for goods and services at home and abroad. First Data (NYSE: FDC), a global leader in commerce-enabling technology, and Alipay, one of the world’s leading online payment platforms, today announced that North American businesses will be able to accept the mobile payment service and expand Alipay’s already significant business base. First Data will implement Alipay at the point-of-sale for its four million U.S. business clients. The rollout will begin with First Data’s clients that use the Clover suite of solutions."
  • Verifone Introduces Carbon 8, the Future of Small Business Payment Systems and the Latest Innovation in the Carbon Family - "Designed for high-touch industries such as hospitality and restaurants, Carbon 8’s namesake showcases a high-resolution, 8-inch, merchant-facing tablet that enables a more portable and lighter device to fit a variety of fast-paced environments. Able to run applications that help merchants operate and grow such as accounting, real-time inventory management and staffing tools, Carbon 8 offers convenient new features including a shoulder strap for comfortable carrying and optional, detachable thermal printer for on-the-spot receipts."
  • ACI ACHIEVES PCI COMPLIANCE VALIDATION FOR ITS POINT-TO-POINT ENCRYPTION (P2PE) CARD PAYMENTS SOLUTION - "ACI’s P2PE solution has met the rigorous controls defined for the protection of payment card data. The validation, which was conducted by Coalfire, an Independent PCI Qualified Security Assessor (QSA), concludes that “ACI offers a flexible, scalable and secure solution that can be used by merchants to reduce risk of a breach and lessen the burdens of PCI DSS compliance efforts.”"
  • PayPal Study Reveals Less Than One in Five Canadian SMBs Accepts Online Payments - "Canadian small and medium-sized businesses (SMB) are leaving money on the table, reveals an in-depth study commissioned by PayPal Canada. PayPal’s Canadian SMB Landscape Study highlights that less than only one in five (17%) Canadian small businesses are using payment tools such as electronic invoicing, an online marketplace, or an e-commerce enabled website."
  • Qualpay Sets a New Standard in Integrated Payments with a Data-Driven Approach, Saving Time and Costs - "In partnership with ISVs-ISOs, resellers and financial institutions, Qualpay provides merchants with a simple and cost-effective end-to-end solution. The Qualpay platform is easy to integrate with and customizable to meet each merchant's unique requirements. The convenient and interactive on-line application allows for fast boarding and fulfillment, and the transparent residual reporting and portfolio management tools let you always follow the money. Together, Qualpay and its partners share a common vision of empowering businesses to address the challenges facing payments for businesses today and tomorrow, that is agile, data intelligent and grows with your needs."
  • Consumer Access to Credit Cards Grows to Highest Level since 2005 as Mix of Card Issuers Changes - "In Q1 2017, over 171 million consumers had access to a bankcard, the highest level TransUnion has observed since 2005. Of these, 16.33 million were subprime consumers, an additional 2.32 million consumers from just two years prior in the first quarter of 2015. The growth rate for subprime consumers was 8.9% in Q1, twice the rate of an average of 2.6% for all other risk tiers. The growth in access contributed to a 7.4% increase in total bankcard balances, which reached $693 billion in Q1 2017."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series will be in Atlanta, May 16-18. Come for the two day boot camp or attend all three days. For those of you who plan ahead, we have our fall schedule lined up, too. Check out our entire boot camp schedule here. We hope to see you soon!

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!

May 08, 2017

Headline News from PaymentsNews.com - May 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

  • Visa to use token service to offer customised digital card services - NFC World - "Visa has developed a range of customised digital card management “experiences” that will allow issuers to offer Visa cardholders “greater control and insight over how they pay, where they pay and who can pay” with a digital version of their Visa card. VisaThe new capabilities will be built on the Visa Token Service (VTS) platform and will be made available to issuers in the US and Australia in 2018."
  • Square is rolling out its first debit card - recode - "The prepaid card isn’t linked to your bank account, but instead to the Square Cash app. That means you can only use it to spend money that you are holding in your Square Cash account."
  • What China Reveals About the Future of Shopping - BCG - "China has more e-commerce activity than any country in the world today. According to China’s National Bureau of Statistics, Chinese consumers spent $750 billion online in 2016—more than the US and the UK combined. That is a jaw-dropping number, but even more interesting is how differently China’s digital marketplace, technology platforms, and online behaviors have evolved compared with those in Western markets. These differences provide a glimpse into the future of shopping—and offer valuable insights for companies around the globe. T"
  • Deutsche Bank backs pan-industry online identity platform - Finextra - "The bank and partners Allianz, Axel Springer, Daimler and Postbank, have inked a declaration of intent that will see them work on a standard access procedure for online activities, with customers using a "master key" for registration and identification across industries."
  • Bonding Experience: Can Kenya Pave a Path for Blockchain Change? - Coindesk - "In a world first, the general public had access to government debt via an app. The M-Akiba project (akiba is Swahili for 'savings') aims to: 1) broaden participation in public financing, 2) stimulate the savings rate, and 3) raise funds for infrastructure investment. The target was $1.5m, with the minimum investment set as low as KSh3,000 (approximately $30). It was open to all Kenyans with an M-Pesa mobile money account – well over half the population. The issue sold out two days ahead of schedule."
  • Starling Bank unveils real-time mobile payments - BankingTech.com - "UK challenger bank Starling is staying busy with the launch of its real-time mobile offering, Starling Payment Services. The service, which it calls a new division of the bank, will offer sponsorship access to the UK’s major payment schemes, allowing other banks, payment service providers, and fintech companies to use real-time payments from the summer."
  • Security News This Week: Oh Good, Hackers Beat Two-Factor to Rob Bank Accounts - Wired - A rundown of recent hacks and security concerns.

ON THE WIRES

  • Index 1-Second EMV Launches to Speed Up Lines, Lower Costs and Capture Sales - "Index, a leading retail software provider, has reduced EMV times to one second – the fastest EMV experience in the US. Index 1-Second EMV provides grocery, quick service restaurant (QSR) and apparel retailers with an EMV solution that's fast, simple and secure – customers can dip anytime and remove their card in just one second."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series will be in Atlanta, May 16-18. Come for the two day boot camp or attend all three days. For those of you who plan ahead, we have our fall schedule lined up, too. Check out our entire boot camp schedule here. We hope to see you soon!

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!

May 05, 2017

Headline News from PaymentsNews.com - May 5, 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

  • Every Region in the Developing World Saw Remittances Fall Last Year Except for One - Quart Index - "All regions in the developing world saw a drop in remittances in 2016, except for Latin America, which saw growth of 6.9%."
  • Cashless Society Is Still Quite A Ways Off - Retail Touch Points - "Cash is still king, as they say, and it will likely stay that way for the foreseeable future. CNN reports that Americans ages 18-24 used cash in 38% of their payments last year, which is more than any other age group. In another sign of the trend, the Federal Reserve Bank of San Francisco reported that, as of 2014, consumers are using cash for roughly half of all transactions valued at less than $50. The same study also found that consumers tend to use cash more frequently than any other payment instrument."
  • How PSD2 is changing the face of payments - Bobs Guide - "Going forward, banks – at a customer’s request – will be required to share their client data with third party payment providers (TPPs), in order to support the payment services being offered by those new entrants. This will not only help to facilitate the business propositions of TPPs – with robust customer account information from banks underpinning their services – it will grant them direct access to a significant customer base. This “open banking” approach could fundamentally alter the payments value chain, and require banks to reassess their business models."
  • Cross-Border Ecommerce Growing Among Germany's Internet Users - eMarketer - "While far from ubiquitous, cross-border ecommerce penetration among digital buyers in Germany is on the rise. More than a third of internet users who make at least one retail purchase digitally in 2017 will purchase products from outside the country, according to eMarketer’s first estimate of cross-border shopping behavior among Germany’s internet users."
  • M-commerce : 86% of UK digital shoppers have made a purchase via smartphone - Payments Cards & Mobile - "According to the survey, more than half of all e-Merchants (54%) have seen more than 10% of their overall sales taking place through mobile channels, three times the number in 2015. Office for National Statistics’ figures show that e-commerce accounted for 15.5% of total UK retail spending in March 2017."
  • More Than Half of Americans Have Cut Landline Phone Service - Fortune - "It’s official: For the first time, a majority of American homes have only wireless telephones. In the CDC survey for the second half of 2016, 50.8% of households had only mobile service, up from 48.3% a year earlier. Another 39.4% of households had both types of service and 6.5% had landlines only. The survey, released on Thursday, found 3.2% of homes had no phone connection of any kind. The CDC surveyed almost 20,000 households during the six-month period."

ON THE WIRES

  • Wells Fargo Customers Use Debit/Prepaid Cards More Than Any Other U.S. Issuer - "Wells Fargo & Company (NYSE:WFC) announced today that, for the first time, its customers are now the country’s largest users of debit and prepaid cards by purchase volume, according to 2016 data issued by The Nilson Report. The new ranking, released in The Nilson Report’s April 18, 2017 issue, shows Wells Fargo customers used their debit and prepaid cards to purchase more than $306 billion in goods and services in 2016."
  • Retailers Promise Fight to Keep Swipe Fee Reform as Financial CHOICE Act Heads Toward Full House Vote - "Today, the Retail Industry Leaders Association (RILA) responded to the House Financial Services Committee's markup of the Financial CHOICE Act, legislation that would roll back many of the financial reforms passed in the wake of the financial meltdown in 2008. Retailers have vowed to fight any financial reform bill that repeals swipe fee reform, bipartisan legislation passed in 2010 that stopped large banks and card networks from charging merchants exorbitant fees on debit card transactions."
  • US Emerges as Primary Target for Cybercrime Attacks with 35% Increase in Global Attack Volumes, Reveals ThreatMetrix Report - "Latest data revealed today shows that 130 million fraud attacks were detected in just a 90-day period with the growth in attacks outpacing transaction growth by 50 percent."
  • EyeVerify Survey Reveals High Consumer Trust in Biometrics for Mobile Banking and Payments - "The survey of 1,002 U.S. adults revealed that they want more biometrics options for mobile banking and view biometrics as more secure than passwords. Eight out of 10 (79 percent) of the respondents said they want the opportunity to use more biometric authentication methods beyond the fingerprint (eye, face, fingerprint, and voice) to access mobile banking or payment apps. Additionally, 42 percent said they wouldn't use a banking or payment app that doesn't offer biometric authentication."
  • ExxonMobil Speedpass+ App Breaks New Ground With Connected Car and Apple Watch - "ExxonMobil announced today that it is rolling out several updates to its Speedpass+ mobile payment app, including use of the app with both Ford vehicles equipped with Ford SYNC®3 and the Apple Watch to purchase Synergy™ fuel and car washes at approximately 10,000 participating Exxon and Mobil stations across the United States."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series will be in Atlanta, May 16-18. Come for the two day boot camp or attend all three days. For those of you who plan ahead, we have our fall schedule lined up, too. Check out our entire boot camp schedule here. We hope to see you soon!

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!

May 04, 2017

Headline News from PaymentsNews.com - May 4, 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

  • UK to streamline payments to boost bank competition - Reuters - "Britain is keen to increase competition in banking, a sector dominated by the "Big Four" lenders - Lloyds, HSBC, Barclays and RBS. Any new banks have to use existing payments systems, largely set up by the big lenders, for a fee. A group created by the Payment Systems Regulator (PSR) and Bank of England recommended on Thursday that the three retail payment systems, Bacs, Cheque and Credit Clearing Company, and Faster Payments Scheme be consolidated under one roof. That would mean new banks will only have to make one application to use all the three systems, thereby speeding up the process and cutting costs."
  • OCC fintech charter plans in jeopardy as Curry departs - Finextra - "Plans by the US Office of the Comptroller of the Currency to issue special purpose banking charters to fintech firms is up in the air following the departure of leading advocate Thomas Curry and his replacement as acting head by Simpson Thacher & Bartlett partner Keith Noreika."
  • PREVENTING FRAUD IN ONLINE PAYMENTS: PUNISH THE FRAUDSTER, NOT THE CONSUMER - Disruptive Competition Project - "The European Banking Authority (EBA)’s new security standards for online payments are now being reviewed by the European Commission. They are soon to be finalised. Having listened to feedback, the proposals are now much better than they were. But the potential for some surreal outcomes remains. The current proposals mean that when paying for something online (flight ticket, groceries, new dress) whether or not you need to follow extensive security procedures would not be based on your behaviour, or the track record of the shop you are buying from in detecting fraud. The fraud record of the purchaser’s bank is what would count."
  • CIBC removes mobile payment app from the Google Play Store - Mobilesyrup - "You might have noticed that the CIBC mobile payment app has disappeared from the Google Play Store. The app allowed CIBC clients to tap their smartphones on a payment terminal whenever they want to make a purchase. According to a CIBC spokesperson, the reason the company got rid of its app was because of the popularity of Apple Pay and Samsung Pay."
  • Bank of America Eyes Adoption as Next Hurdle For Ethereum Test - Coindesk - "At a Microsoft event last week, Bank of America's director of trade and supply chain finance, Ann McCormack, showcased a new version of the ethereum-based application, demoing how it automates the process of creating a standby letter of credit."
  • Why payments are more than plumbing - IT Pro Portal - "About 69 per cent of all online transactions are abandoned. Business Insider calculates that this costs retailers around $4 trillion a year. Imagine if that was a physical store. One hundred people walk in, fill their baskets, walk up to the check out, and then 69 of them just leave. Now in all fairness, a large portion of cart abandonments are simply a natural consequence of how users browse e-commerce sites – many users will be window shopping, comparing prices, saving items for later, exploring gift options, etc. This is largely unavoidable. However, a substantial portion of these could be converted into a sale through a better experience. Baynard Institute has suggested that around 35 per cent are convertable – just by improving the checkout and payment process. "
  • Square Thrives as Payments Platform Woos Bigger Merchants - Bloomberg - "Run by Twitter Inc. Chief Executive Officer Jack Dorsey, Square has come a long way from its early days as a credit card reader in food trucks. It’s been expanding geographically and in terms of the services it offers merchants, winning bigger clients as a result and boosting sales. Revenue in the first quarter shot past forecasts from the company and analysts, rising 39 percent as businesses sign on for payments processing, loans and software to help manage inventory. Square also raised its sales and profit forecast for the year."
  • Thieves drain 2fa-protected bank accounts by abusing SS7 routing protocol - Ars Technica - "Wednesday's report also underscores the risks of relying on text messages for two-factor authentication. (Last year, the National Institute for Standards and technology proposed doing away with SMS and voice calls for so-called out-of-band verifiers.) "

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series will be in Atlanta, May 16-18. Come for the two day boot camp or attend all three days. For those of you who plan ahead, we have our fall schedule lined up, too. Check out our entire boot camp schedule here. We hope to see you soon!

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!

May 03, 2017

Headline News from PaymentsNews.com - May 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

  • An Epidemic of Card Testing Floods Merchants With Chargebacks And False Positives - Digital Transactions News - "These days, card testing is proving to be such an effective tactic its use is exploding. During the first quarter of 2017, credit card testing increased two-fold compared to the same period in 2016, according to a study by Radial, a King of Prussia, Pa.-based omnichannel technology provider."
  • Apple Pay Volume Is Up 450% Over Past Year - Fortune - "The likely reason: Apple Pay expanded to a number of new international markets in 2016. It is now available in 15 countries including the United States, the United Kingdom, Switzerland, Canada, Australia, China, France, Hong Kong, Singapore, Japan, and Russia."
  • Credit unions look to blockchain to solve digital identity crisis - American Banker - "Identity is a tricky thing, for financial institutions as for philosophers. Banks and credit unions spend an inordinate amount of time learning who their customers are, verifying that they are who they say they are and proving to regulators that they know with whom they are doing business."
  • Four banks in Singapore in pilot to simplify online banking transactions - Fintech Innovation - "Starting progressively from today, prospective customers of United Overseas Bank (UOB), Development Bank of Singapore (DBS), Oversea-Chinese Banking Corporation (OCBC) and Standard Chartered Bank (StanChart) with a registered profile on myinfo.gov.sg can apply for a new bank account without needing to submit supporting documentation. This aims to provide greater convenience and a faster transaction time for consumers while benefiting banks in the form of higher productivity and lower compliance costs."
  • Breach at Sabre Corp.’s Hospitality Unit - Krebs on Security - "Breaches involving major players in the hospitality industry continue to pile up. Today, travel industry giant Sabre Corp. disclosed what could be a significant breach of payment and customer data tied to bookings processed through a reservations system that serves more than 32,000 hotels and other lodging establishments."
  • Programmable bank account for software developers - Standard Bank of South Africa - "Root is a lightweight bank account designed to be accessible through code. With our API you can build your own interface and control your money programmatically. Your Root account comes with a programmable credit card, which lets you write code that interacts with transactions in real-time."

ON THE WIRES

  • Retailers Say Repeal of Swipe Fee Reform Would ‘Undermine Transparency and Competition’ and Harm Consumers - "The National Retail Federation today called on the House Financial Services Committee to reject efforts to repeal debit card swipe fee reform as it considers approval of the Financial Choice Act. “Debit card swipe fee reform has brought competition and transparency to the debit card payments market,” NRF Senior Vice President for Government Relations David French said. “Repealing reform would only undermine transparency and competition, further lining banks’ pockets.”"
  • Mastercard and General Motors Power Digital Payments - "Mastercard today announced a major expansion of its long-standing relationship with General Motors (GM). Customers at more than 4,000 Chevrolet, Buick, GMC and Cadillac dealerships in the United States, as well as online customers, will soon be able to order and pay for ACDelco and other service parts, accessories such as Chevrolet Performance Parts, Maven car-sharing services, OnStar guidance, security and data plans, and over-the-air updates for OnStar Go using Mastercard’s payment gateway. The gateway enables fast and secure electronic credit and debit card processing."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series will be in Atlanta, May 16-18. Come for the two day boot camp or attend all three days. For those of you who plan ahead, we have our fall schedule lined up, too. Check out our entire boot camp schedule here. We hope to see you soon!

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!

May 02, 2017

Headline News from PaymentsNews.com - May 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

  • ‘Facebook Rewards’ QR codes dangle discounts for offline purchases - TechCrunch - "Facebook wants to prove it drives brick-and-mortar foot traffic with its latest feature test. TechCrunch has discovered a previously unreported Facebook feature where users can scan a personalized QR code to score discounts or bonuses when they buy something in-person at certain shops. Some users see the Rewards feature listed in the More tab of their Facebook mobile app."
  • World Bank to Support Blockchain Bonds Trial in Kenya - Coindesk - "According to a new report, the World Bank is seeking to provide follow-up research to support a mobile phone-based bond issuance dubbed 'M-Akiba' through which the African country's government has so far raised $1.1m."
  • The key to mobile wallets isn’t payments - ITProPortal - "While consumers, and brands may still think of mobile wallets as purely a payment mechanism, it turns out that its other varied uses might actually be the key to this technology taking off. To change purchasing patterns of consumers, and get them to overcome initial setup barriers and realise security benefits there needs to be a compelling reason for them to try it out. Without this, many shoppers won’t break traditional habits at checkout. "
  • Tencent looks to cross-border payments expansion after leading US$13m funding in Airwallex - South China Morning Post - "Hong Kong-listed Tencent, which operates the popular social messaging platforms WeChat and QQ, “has a vested interest in cross-border payments as one of the largest mobile payments providers in the world”, according to the fundraising announcement by Airwallex on Monday."
  • PayPal's Small-Business Lending Tops $3B As Company Launches New Tools For Small-Business Owners - Forbes - "PayPal’s small-business financing unit has been on a tear since launching in 2013: Today, the company is announcing that it has topped $3 billion in financing to more than 115,000 businesses worldwide. That represents an acceleration of its lending to small businesses, which passed the $1-billion milestone a year and a half ago, and is now growing at a rate of $4.5 million a day."
  • Agent Banking In Nigeria Sees Spike as Paypoint Grows by 1000 New Agents Monthly - Payments Afrika - "Revealed at the maiden Quickteller Paypoint agents forum which held in Lagos recently; about 40 agents were onboarded during the first few months of operation. As at March 2017, the agent base had grown at an average rate of 1000 new agent sign ups monthly bringing the total number of active agents to about 6,000 and growing."
  • Samsung Pay is expected to land in the UK in mid-May - The Tech Portal - "Samsung Pay was expected to make its debut in the UK last year but it got postponed. Now, the company representatives have hinted that contactless payment service may launch in the nation around May 16th."

ON THE WIRES

  • UnionPay International Optimizes User Experiences at 100 Airports - "UnionPay International announced today the launch of its upgraded campaign at 100 airports worldwide, providing discounts and services at various types of merchants. From now to February 28, 2018, UnionPay cardholders can enjoy exclusive privileges and value-added services at more than 100 international airports across about 30 countries and regions."
  • First Data and Flywire Sign Strategic Agreement for International Payments - "First Data (NYSE: FDC), a global leader in commerce-enabling technology, and Flywire, a leading provider of international payment solutions, today announced a new strategic agreement aimed at streamlining cross-border transactions for their respective client bases. As part of the agreement, First Data and Flywire will form a reciprocal referral relationship, providing clients with a seamless integration between Flywire’s international payment and receivables platform, and First Data’s vast client network and technology solutions."
  • PrivatBank Agreement Debuts Verifone Payment-as-a-Service in Eastern Europe - "Verifone (NYSE: PAY), a world leader in payments and commerce solutions, announced that it has been selected as the payment solution and service provider for PrivatBank, the largest acquirer in Ukraine. As part of a three-year service agreement, Verifone will set up and manage PrivatBank merchants with point-of-sale (POS) solutions giving PrivatBank the freedom to focus on their more than 120,000 merchant clients of all sizes and verticals with financial services."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series will be in Atlanta, May 16-18. Come for the two day boot camp or attend all three days. For those of you who plan ahead, we have our fall schedule lined up, too. Check out our entire boot camp schedule here. We hope to see you soon!

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!

May 01, 2017

Headline News from PaymentsNews.com - May 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

  • Federal Reserve wants a say on U.S. fintech rules: Brainard - Reuters - "While the OCC's proposed fintech charter has been welcomed by the fintech sector, it has sparked opposition from state regulators and smaller banks. On Wednesday the Conference of State Banking Supervisors filed a lawsuit against the OCC, arguing that it lacks the legal authority to offer such a license. State regulators are concerned that new charter would threaten their sovereignty and consumer protection."
  • Hackers Ran Through Holes in Swift’s Network - Wall Street Journal - "In the past year, a spate of cyberattacks has penetrated banks along Swift’s less-defended perimeter, shaking confidence in the dominant network used by banks for cross-border transactions. While Swift diligently locked down that network’s core, customers were left mostly responsible for their own security, creating an opportunity for hackers."
  • 3.4bn phones will support Apple Pay, Android Pay and Samsung Pay by year end - NFC World - "Some 3.4bn smartphones will be compatible with Apple Pay, Samsung Pay and Android Pay by the end of 2017 — with the number expected to increase to 5.3bn by 2021, research released by IHS Markit reveals."
  • The Fight For The $400 Billion Business of Immigrants Sending Money Home - Fast Company - "Remittances, which totaled $429 billion in 2016, are worth three times as much as all the foreign aid doled out by governments worldwide, and it’s likely the money is more effective dollar-for-dollar. Unlike aid, which is notorious for passing through corrupt middlemen and inefficient bureaucracies, remittances go directly to recipients, where they pay for schooling, medical expenses, and new fridge-freezers."
  • Four reasons why PayPal needs a wallet licence in India, and might acquire an existing co - Medianama - "Global payments company PayPal is reportedly looking to get a wallet licence from the Reserve Bank of India (RBI), the Economic Times reported citing sources. Note that there have been several reports of PayPal trying to get a license through the acquisition of Snapdeal-owned FreeCharge. Meanwhile, the company is also reportedly in talks to invest in Flipkart-owned PhonePe. Whichever route it takes, the signals are there: Paypal is interested in a wallet license in India."
  • Additional Authentication: Is the Protection Worth the Hassle? - FRB Atlanta Take on Payments blog - "Last week, we discussed some findings from a research study conducted earlier this year to understand consumer knowledge of and attitudes regarding other authentication methodologies. The survey participants read a brief description of alternative authentication methods and then answered a series of questions regarding their attitudes about the ease of use and willingness to adopt these alternatives. Some of the authentication methodologies reviewed were"
  • Could India’s cash blitz kill off cards, ATMs? - Wall Street Journal - "Following India’s crackdown on cash, millions of residents who have never even used a credit card are leapfrogging into mobile payments, finding phone apps more accessible than plastic."
  • Hackers Get Back to the Basics - The Atlantic - "The rise in email-delivered attacks is a reflection of a pattern that Symantec’s research team calls “living off the land.” It’s essentially a return to basics: Rather than hoarding complex “zero-days”—attacks that exploit security holes for which no patches currently exist—or coding web-based malware, hackers are turning to more straightforward methods."
  • Cities Seek Deliverance From the E-Commerce Boom - CityLab - "Pick any other major city or metropolitan area in the U.S., and the situation’s probably the same: a massive surge in deliveries to residential dwellings, one that’s outstripping deliveries to commercial establishments and creating a traffic nightmare."
  • eMarketer Updates Worldwide Internet and Mobile User Figures - eMarketer - "According to eMarketer’s new report, “Worldwide Internet and Mobile Users: eMarketer’s Estimates for 2016-2021” (available only to eMarketer PRO subscribers), nearly 47% of the world’s population will use the internet at least once a month in 2017 (either via desktop/laptop or mobile device), a 6.1% increase vs. 2016. eMarketer estimates internet adoption will surpass the halfway mark in 2019, when 50.6% of the worldwide population will use the internet, equating to 3.82 billion people."

ON THE WIRES

  • UAE Exchange Partners with Oberthur Technologies to Launch Wearable Contactless Payments - "Flybuy MiniFOB technology is a mini contactless card of dimension 2FF SIM-size 15x25mm, including an antenna and a chip with payment functionality. The MiniFOB can be inserted into a prepaid card, silicone, leather wristband, a key chain, jewellery, fitness trackers, watches or any other wearable item / device. The card uses Mastercard contactless functionality and is developed by OT, a leading global provider of embedded security software products and services and an award-winning innovator in the payment sector."
  • Worldpay Becomes First U.S. Payment Processor to Offer Quick Chip Technology for Chip Card Transactions - "As the first payment processor to offer Quick Chip on terminals for retail, restaurant, and fleet processing, Worldpay can seamlessly implement the solution for existing merchant customers and manage the implementation process for new customers. For existing chip card customers, implementing the Quick Chip technology requires only a free software download. No changes to standard chip card processing, the payment network or Worldpay certifications are required, and there is no impact to the routing process for the merchant bank, network or card issuer. Worldpay plans to convert its existing customer base to Quick Chip technology within the year."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series will be in Atlanta, May 16-18. Come for the two day boot camp or attend all three days. For those of you who plan ahead, we have our fall schedule lined up, too. Check out our entire boot camp schedule here. We hope to see you soon!

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!

April 28, 2017

Headline News from PaymentsNews.com - April 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

  • Who Picks Up the Tab for Credit Card Rewards? - Wall Street Journal - "Merchants dislike the fees, which threaten to eat into their profits. Conventional wisdom suggests they pass on the expense to their customers by charging higher prices for the goods and services they sell. Costs go up for everyone, but only those collecting rewards receive the benefit."
  • Apple is in talks to launch its own Venmo - Recode Daily - "The company has recently held discussions with payments industry partners about introducing its own Venmo competitor, according to multiple sources familiar with the talks. The service would allow iPhone owners to send money digitally to other iPhone owners, these people said."
  • Walmart reduces prices on money transfers - Chain Store Age - "The retailer is adding new “rollback” fees to its Walmart2Walmart money transfer program. The new fees, beginning Wednesday, April 26, save customers between 20% and 90% on cash transfers versus the leading competitor, according to Walmart. For example, shoppers sending $250 will pay $8 through the new program, compared to fees that could range between $12.50 and $24 on Western Union, the retailer reported."
  • How British charity Comic Relief processed millions of UK pounds in seven hours on Red Nose Day - Google blog - "Capturing donor information and processing their donation immediately is critical. This core availability requirement drove the architecture to have layers upon layers of redundancy. We hosted three independent shards of the full system in different datacenters spread over four countries and two continents, balancing traffic between them using DNS. Each shard then load balanced donations to multiple payment providers."
  • Russian-controlled telecom hijacks financial services’ Internet traffic - Ars Technica - "On Wednesday, large chunks of network traffic belonging to MasterCard, Visa, and more than two dozen other financial services companies were briefly routed through a Russian government-controlled telecom under unexplained circumstances that renew lingering questions about the trust and reliability of some of the most sensitive Internet communications. Anomalies in the border gateway protocol—which routes large-scale amounts of traffic among Internet backbones, ISPs, and other large networks—are common and usually the result of human error. While it's possible Wednesday's five- to seven-minute hijack of 36 large network blocks may also have been inadvertent, the high concentration of technology and financial services companies affected made the incident "curious" to engineers at network monitoring service BGPmon."
  • Bitcoin's Price Sets New All-Time High - Coindesk - "At press time, the price had edged up past the $1,330 mark. The boost comes amid an increasingly active time for the industry as it relates to public markets, as the SEC has since revealed that it is reviewing a petition submitted by the Bats BZX Exchange that will find it reconsidering the listing of the Winklevoss Bitcoin ETF. The price move caps a bullish month for the digital currency, which on 1st April averaged just under $1,100, an increase of roughly 20% in just a span of weeks. "
  • Mobile Order-Ahead Grows at Lightning Speed - FIS Payments Leader blog - "According to LevelUp’s Seth Priebatsch, mobile order-ahead deployments at QSRs tripled between 2015 and 2016, and they’re projected to climb to 300,000 by year end. If that happens, nearly half of QSR and coffee shop locations in the U.S. will offer mobile order-ahead."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series will be in Atlanta, May 16-18. Come for the two day boot camp or attend all three days. For those of you who plan ahead, we have our fall schedule lined up, too. Check out our entire boot camp schedule here. We hope to see you soon!

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!

April 26, 2017

Headline News from PaymentsNews.com - April 26, 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

  • VISA'S US EMV TRANSACTIONS HIT ONE BILLION MARK IN MARCH - Cards International - "The payment technology firm said that the number of chip-enabled merchant locations in the country reached two million, representing 44% of stores that accept Visa, out of which more than 75% are small- and medium-sized businesses. As per the data released by Visa, there are now more than 421 million Visa chip cards in circulation throughout the US, and chip-ready merchants now represent 49% of Visa's in-store payment volume. Over two million merchant locations are currently accepting chip cards, a 409% increase since the beginning of EMV migration in the US."
  • Singapore banks add in-store QR code payments to mobile apps - NFC World - "Customers of Singapore’s DBS Bank and OCBC Bank will soon be able to make in-store mobile payments by scanning a QR code at any point-of-sale terminal belonging to the country’s electronic payments network Nets."
  • Dutch banks join forces to launch all-in-one mobile payments app Payconiq - Payments Cards & Mobile - "Six of the major Dutch banks – ABN Amro, ASN Bank, ING, Rabobank, Regiobank and SNS – say they will launch Payconiq, a mobile payments app this summer. The app, called Payconiq, enables users to make direct payments online, in-store and P2P payments."
  • EU Report: DLT Could Increase Cyber Risks for Financial Institutions - Coindesk - "The risk report, published by the Joint Committee of the European Supervisory Authorities last week, examines the threats facing the EU's financial system from a number of factors including the "increasing interconnectedness" brought about by technology."

ON THE WIRES

  • Vantiv Announces Agreement to Acquire Paymetric - "Headquartered in Atlanta, Ga., Paymetric automates B2B payment workflows within enterprise systems, including SAP, Oracle, Hybris, Salesforce and more. Paymetric also tokenizes payments data within these systems in order to enable secure storage of customer information and history."
  • Plaid & Dwolla Announce New Partnership to Offer Fully Tokenized ACH Payment Integration - "Plaid, the technology company whose suite of APIs powers many of the most innovative and fastest-growing companies in financial services, serves as the authentication gateway and data provider while Dwolla, a SaaS platform that moves billions of dollars for developers and businesses of all sizes, is the ACH provider and facilitates the movement of funds via its Access API. The new partnership tokenizes the sensitive financial information from transactions to significantly limit exposure of the data."
  • D+H Announces Availability of U.S. Real-time Payments Processing Solution for Industry Testing - "DH Corporation (TSX: DH) ("D+H"), a leading provider of technology solutions to financial institutions globally, today announced the availability for industry testing of its U.S. real-time payment processing solution, which will enable U.S. banks to commence testing for The Clearing House's (TCH's) real-time clearing and settlement network to support real-time payments in the United States."
  • TNS Launches Multi-Carrier Wireless Roaming Solution for Payment Devices across North America - "Processors, ISOs and device manufacturers across North America can now benefit from Transaction Network Services’ (TNS) expertise in wireless roaming for payment devices and point-of-sale terminals thanks to the expansion of its Global Wireless Access product across the region."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series will be in Atlanta, May 16-18. Come for the two day boot camp or attend all three days. For those of you who plan ahead, we have our fan schedule lined up, too. Check out our boot camp schedule here. We hope to see you soon!

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!

April 25, 2017

Headline News from PaymentsNews.com - April 25, 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 UN Wants to Adopt Bitcoin And Ethereum – And Soon - Coindesk - "The United Nations (UN) is in the final stages of what could be one of the most epic blockchain projects of all time. After successfully using the ethereum blockchain to transmit Pakistani rupees to 100 people earlier this year, the UN's World Food Program (WFP) is arranging extra security to ensure it safely executes the next stage of its work."
  • FIS And TCH Prep a Real-Time Payments Incubator for Banks And Credit Unions - Digital Transactions News - "As the U.S. payments industry prepares to adopt real-time payments, supporters are readying their services. The latest entry is the duo of Fidelity National Information Services Inc. (FIS) and The Clearing House Payments Co. LLC, which announced Tuesday an incubator in which banks and credit unions can take their first real-time payments steps."
  • Social network payments now reach nearly $3 trillion in China - Payments Cards & Mobile - "A new UN study reveals that social network payments through Alipay and WeChat Pay enabled $2.9 trillion in Chinese digital payments in 2016, representing a 20-fold increase in the past four years."
  • Retailers’ Call Centers Bring Life to Dead Mall Space - Wall Street Journal - "While retailers look to pare back traditional bricks and mortar retail space, some landlords are looking to repurpose struggling centers by offering portions of them for back-office facilities to support orders placed online."
  • UNIONPAY PARTNERS WITH WESTPAC TO EXPAND CARD ACCEPTANCE IN NEW ZEALAND - Cards International - "UnionPay International and Westpac have signed an agreement under which Westpac will accept UnionPay cards at all its ATMs and nearly 1,300 online merchants in New Zealand. The collaboration will further expand UnionPay’s card acceptance in New Zealand. Until now, nearly 80% of the local ATMs accept UnionPay cards in the country."
  • Swift Selects Hyperledger Tech For Cross-Border Blockchain Test - Coindesk - "Swift has officially selected Hyperledger's Fabric codebase for use in its most prominent blockchain project. Designed to simplify the nostro-vostro accounts banks held to facilitate international transactions, the trial includes participation from BNP Paribas, BNY Mellon and Wells Fargo, as well as three other global financial institutions."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series will be in 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!

April 24, 2017

Headline News from PaymentsNews.com - April 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

  • How Peer-To-Peer Payment Pioneer Venmo Grew Up And Got Serious - Fast Company - "Today, Venmo is the service to beat in the growing peer-to-peer payments space. It shuttled nearly $18 billion between people last year—$5.6 billion in the final quarter alone, up 126% from the previous year. (Though Venmo doesn’t release user figures, Verto Analytics estimates it has more than 7 million active monthly users, which still pales next to PayPal’s 197 million accounts.) The app’s growth is all the more remarkable for the fact that the product itself has remained relatively unchanged since joining the PayPal fold in 2013. "
  • MASTERCARD TO OFFER CASHLESS PAYMENT OPTIONS TO MCDONALD'S CUSTOMERS IN EGYPT - Cards International - "Now, McDonald’s customers can pay for their purchases by using their cards at any of the 96 branches across Egypt. Additionally, the cardholders can make online payments through the MasterCard Payment Gateway System (MPGS), where they can order their meal online and pay with their card on check out."
  • The man in charge of Aadhaar vouches for its safety but there’s no stopping the leaks - Quartz - "Leaks keep springing up in the Aadhaar ecosystem. On April 22, activists unearthed that the Aadhaar-linked identity data of over a million pensioners in Jharkhand was available online. The Aadhaar-linked identity details of pensioners in Kerala, too, are available on the internet, though it is illegal to display such data."
  • Visa Gets One Step Closer to a Cash-Less Society - Barron’s Next - "Visa and Mastercard executives dream of a cash-less society, where consumers buy everything on cards and their companies get a small percentage of every transaction. That dream got a little closer to reality last year when India suddenly phased out 86% of its cash, demanding that residents deposit their money in banks."
  • Amazon Strategy Teardown: Building New Business Pillars In AI, Next-Gen Logistics, And Enterprise Cloud Apps - CB Insights - "Understanding the many-headed beast that is Amazon is no easy feat, especially because Amazon is far less transparent than its peers. As the Times has written, “It isn’t just secretive, the way Apple is, but in a deeper sense, Jeff Bezos’ e-commerce and cloud-storage giant is opaque. Amazon rarely explains either its near-term tactical aims or its long-term strategic vision. It values surprise.”"
  • How Cybercrooks Put the Beatdown on My Beats - Krebs on Security - "Last month Yours Truly got snookered by a too-good-to-be-true online scam in which some dirtball hijacked an Amazon merchant’s account and used it to pimp steeply discounted electronics that he never intended to sell. Amazon refunded my money, and the legitimate seller never did figure out how his account was hacked. But such attacks are becoming more prevalent of late as crooks increasingly turn to online crimeware services that make it a cakewalk to cash out stolen passwords."

ON THE WIRES

  • Amazon Launches Self-Service Marketplace for Subscription Providers - "Amazon.com today announced a self-service subscriptions marketplace that allows digital subscription providers to reach millions of Amazon customers. Subscribe with Amazon is a new way for subscription businesses to sell on Amazon, offering them targeted customer exposure through popular discovery features such as search and recommendations while also providing customers with a simple way to purchase and manage their subscriptions. "
  • Idaho Child Support Payment Service Becomes Mobile Friendly - "Since about 58 percent of Idaho citizens use mobile devices as their primary or only access to the Internet, the child support payment service incorporates the latest in responsive design to maintain mobile compatibility. Additionally, the revamped app meets international online accessibility requirements and is screen-reader compatible."
  • Data Dimensions and Availity Offer Comprehensive Bill Processing Solution - "DD eBill offers the most efficient path for inbound bills in the property & casualty and workers’ compensation fields. Whether a bill is paper-based or electronic, DD eBill can process it utilizing the combined resources of both companies. Data Dimensions’ Medical Bills Processing solution focuses on the conversion of paper forms to electronic format for EDI delivery, while Availity’s eBill handles the intake and processing of electronic bills. Combined with the efficiency and convenience of DD BillPay, Data Dimensions electronic bill payment service, payers and providers are able to benefit from a complete, end-to-end Medical Bills Processing solution that improves the consumer’s experience, increases timely and accurate payments, and reduces administrative costs."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series will be in 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!

April 21, 2017

Headline News from PaymentsNews.com - April 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

  • BBVA Taps Blockchain to Make International Payments in Seconds - Bloomberg - "Banco Bilbao Vizcaya Argentaria SA, Spain’s No. 2 lender, has executed its first cross-border payments through a system based on the software that supports bitcoin, the company announced Friday. Using a program built by Ripple, a San Francisco firm, BBVA has transferred about 50 euro-denominated payments to Mexico from Spain in seconds. Such transactions normally take up to four days to clear, the bank said."
  • Orange to launch mobile-only bank with NFC payments and AI - NFC World - "Mobile network operator Orange is to launch a mobile-only bank in France in July this year that will offer customers NFC mobile payments, P2P mobile transfers using SMS and an artificial intelligence-based virtual assistant that will eventually be able to complete tasks including making transfers and putting funds in savings."
  • A Canadian Car-Services Operator Chooses Contactless-Only Payments - Digital Transactions News - "Unattended tire-inflation and vacuum services for cars long have accepted credit and debit cards as well as cash. Now, one provider, Irving, Texas-based AIR-serv, is taking that a step further by making contactless payments the sole option at more than 6,500 locations throughout Canada."
  • BILLTRUST TEAMS UP WITH CARDCONNECT TO OFFER INVOICE PAYMENTS THROUGH CARD - Cards International - "Billtrust, a US-based B2B payments company, has teamed up with payment processing firm CardConnect to provide invoice payments via card while improving efficiency and securing the invoice-to-cash process for its shared customers. As part of the collaboration, Billtrust has integrated its end-to-end payment cycle management solution Quantum with CardConnect’s comprehensive enterprise payment processing platform CardSecure."
  • U.S. Bank ties perks of high-end card to mobile payments - American Banker - "There are some key differences to the Minneapolis-based bank's approach that observers say make it distinct. The biggest turns on how customers earn the coveted triple points per dollar spent. Other cards in the space tie it mostly to restaurants and travel. The Altitude Reserve, which will be offered starting May 1, also pays triple points on travel purchases, but then offers triple points on mobile purchases on Apple Pay, Android Pay, Samsung Pay or Microsoft Wallet."
  • 'Supercard' Startup Plastc Goes Belly Up, Screwing Thousands of Backers - Gizmodo - "There are dozens of ways to pay for things, but apparently, the world was not ready for one more. Plastc, the company that promised to put all of your credit cards on one chunk of plastic, is officially dead."

ON THE WIRES

  • Anima Selects ModusLink to Manage E-Commerce and Fulfillment Services for its Kronaby Watch Brand - "ModusLink Corporation, a wholly owned subsidiary of ModusLink Global Solutions Inc., a global, omni-channel technology and fulfillment provider, announced today that Anima Connected, a Swedish technology company specializing in smart, purposefully designed, connected products, has chosen ModusLink to provide fulfillment and e-commerce related services for its Kronaby smartwatch brand."
  • Hey, It's Apple Pay: Santander Bank Customers Now Have More Ways To Make Secure, Convenient Purchases - "Santander Bank today announced that customers can now add their Santander MasterCard credit and debit cards to Apple Pay, giving them an easy, secure and private way to make payments at participating merchants in stores, apps and on the web using their Apple devices. Apple Pay is the newest of many customer-focused innovations the Bank has launched recently to advance its mobile strategy and ensure it's delivering a great digital experience to its customers."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series will be in 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!

April 20, 2017

Headline News from PaymentsNews.com - April 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

  • MasterCard adds fingerprint sensors to payment cards - engadget - "MasterCard is testing out new fingerprint sensor-enabled payment cards that, combined with the onboard chips, offer a new, convenient way to authorize your in-person transactions. Instead of signing a paper receipt or entering your PIN while struggling to cover up the number pad, you simply place your thumb on your card to prove your identity."
  • Nothing new in UK Govt cyber security survey - Enterprise Times - "The 2017 UK Govt produced Cyber Security Breaches Survey is out and it says nothing new. Across 66 pages it repeats what businesses and the industry already know. Businesses are under prepared, under skilled and prone to cyber security breaches. What is worrying is that this is a situation that is not getting better."
  • Orange is launching a bank because reasons - TechCrunch - "Just like N26, Revolut and others, you’ll be able to control your payment card directly from your phone. Transactions will show up instantly in the app and you’ll be able to block and unblock the card in a couple of taps in case you can’t find it. You’ll also be able to send money with a text message. So you can expect a peer-to-peer payment service like Lydia, Venmo, etc. Finally, Richard hinted at NFC payments with your phone. Orange already supports NFC payments on Android with Orange Cash, and using Apple Pay on iOS."
  • Six Dutch banks to take Belgium’s Payconiq to the Netherlands - NFC World - "“Payconiq makes payments easy — payees are selected from a contacts list, so there is no need to enter the IBAN account number. Stores are displayed on the basis of their location or selected by scanning a QR code. Online consumers can pay for their purchases via a QR code or a direct link to the Payconiq app. In Belgium, Payconiq has more than 25,000 connected merchants.” "
  • Wealthfront has launched a lending product - TechCrunch - "Automated financial investment and advisory service provider Wealthfront is now getting into the lending business."
  • How Online Shopping Makes Suckers of Us All - The Atlantic - "The right price—the one that will extract the most profit from consumers’ wallets—has become the fixation of a large and growing number of quantitative types, many of them economists who have left academia for Silicon Valley. "

ON THE WIRES

  • Shopify Announces New Free Card Reader for In-Person Selling - "Shopify Inc. (NYSE:SHOP)(TSX:SHOP), the leading cloud-based, multi-channel commerce platform designed for small and medium-sized businesses, today announced its new free Chip and Swipe card reader for in-person selling. With Europay, MasterCard and Visa (EMV) support, the new Chip and Swipe reader lets any Shopify merchant in the United States sell offline in a fast and secure way. "
  • North American Bancard Offers Semi-Integrated Solutions - "North American Bancard (NAB) is offering semi-integrated solutions (SIS) as part of its point-of-sale (POS) offerings available now to merchants. Along with chip card (EMV) usage, semi-Integrated solutions enhance and further protect credit card transactions. "
  • Billtrust announces availability of industry's first eInvoicing and ePayment Business Directory - "Billtrust, the leader in payment cycle management solutions, announced today the availability of the Billtrust Business Directory, the industry's first directory of small business eBilling preferences. Introduced at Billtrust CONNECT 2017, taking place in Orlando, Florida, this new offering has access to over 10,000,000 businesses in the US and their billing and payment preferences. Billtrust clients will be able to reach unprecedented levels of eInvoicing and ePayment adoption rates by leveraging this new solution."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series will be in 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!

April 19, 2017

Headline News from PaymentsNews.com - April 19, 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

  • Mastercard rolls out Messenger payment bots with US retailers - NFC World - "Subway, FreshDirect and The Cheesecake Factory have begun rolling out payment bots for Facebook Messenger across the US, allowing their customers to secure and complete payments using Mastercard’s Masterpass digital payment platform without having to leave the instant messaging service."
  • Microsoft replaces the password with a phone-based log-in - endgadget - "Microsoft's Authenticator app can now save you a step when logging into anything that requires a Microsoft Account. According to a blog post from the company's identity division, Microsoft has just flipped the switch on a new phone sign-in feature that skips the password entry part entirely."
  • Alibaba's Ant Financial merges with helloPay Group - Finextra - "HelloPay Group, the online payments platform used on South East Asian e-commerce platform Lazada, is to merge with Alibaba's Ant Financial and be rebranded into AliPay."
  • Two members of ATM skimming ring plead guilty to bank fraud - Ars Technica - "Garcia admitted as part of the plea that "he installed 'skimming' devices on the ATMs" belonging to PNC and Bank of America at multiple locations in New Jersey, "including pinhole cameras that recorded password entries and card-reading devices capable of recording customer information encoded on magnetic strips," according to the statement."
  • InterContinental Hotel Chain Breach Expands - Krebs on Security - "IHG has released data showing that cash registers at more than 1,000 of its properties were compromised with malicious software designed to siphon customer debit and credit card data. Headquartered in Denham, U.K., IHG operates more than 5,000 hotels across nearly 100 countries. The company’s dozen brands include Holiday Inn, Holiday Inn Express, InterContinental, Kimpton Hotels, and Crowne Plaza."

ON THE WIRES

  • Ensenta Changes the Way Businesses Deposit Checks with Its New Multi-Check Mobile™ API - "Business users initiate the Multi-Check enabled app on their mobile devices, and flip the checks front-back, front-back, under the camera until all checks are captured - all without manually entering individual check amounts. Exceptions can be easily edited on the device and totals balanced."
  • Mastercard Helps Consumers Go Coin-and-Cash-Free at Vending Machines With Masterpass - "Mastercard today will make creased dollar bills and spare coins a thing of the past at vending machines. Through a partnership with PayRange, maker of the world’s simplest mobile payment solution for machines, consumers can buy beverages and snacks with Masterpass at vending machines across 300 cities in the United States and Canada."
  • Transactis Partners with Walletron for Mobile Wallet Billing & Payment - "Transactis is excited to announce a strategic relationship with Walletron, expanding its electronic billing and payment offering BillerIQ with the bill-to-wallet service moBills®, enabling businesses to present notifications, bill statements, and a streamlined payment experience through customers' smartphones – all without ever downloading an app. Walletron will serve Transactis' premier distribution client base, all leading players in the financial services, technology and digital communications industries."
  • Hyperwallet Tackles Enhanced Global Wire Transfers for Gig Economy Workers - "Bolstered by Western Union’s Mass Payments technology, this new payout method helps reduce the cost of international wire transfers for higher-value transactions and to countries where local ACH networks aren’t available, while simultaneously providing earners with improved visibility into transfer fees and foreign exchange."

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!

April 18, 2017

Headline News from PaymentsNews.com - April 18, 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 teams up with Android Pay for mobile payments - TechCrunch - "The integration in Android Pay will begin by allowing Android users to select their PayPal balance as a method of payment, but will expand to include the cards users have added to their PayPal account in the months ahead. The deal follows other moves on PayPal’s part to form partnerships with the major card networks, which also had similar goals of expanding PayPal’s footprint by joining forces with the incumbents, instead of doing battle with them."
  • Consumers Skeptical About Value of Sharing Data with Retailers - eMarketer Retail - "In a recent survey by YouGov commissioned by customer acquisition and engagement platform [24]7, US consumers were asked about their experience with companies who had access to their personal data. The respondents were of roughly equal minds about retailers’ use of their personal data, with 42% saying that generally retailers had put it to good use, and 48% saying that they had not."
  • What in the World Is Causing the Retail Meltdown of 2017? - The Atlantic - "The reality is that overall retail spending continues to grow steadily, if a little meagerly. But several trends—including the rise of e-commerce, the over-supply of malls, and the surprising effects of a restaurant renaissance—have conspired to change the face of American shopping."
  • Malls Deploy Technology to Lure—and Keep—Shoppers - Wall Street Journal - "Mall landlords faced with declining sales and disappearing stores are deploying smartphones, social media and other technology to lure shoppers—and then keep them spending."
  • Amex, Challenged by Chase, Is Losing the Snob War - New York Times - "Amex’s hold on our affluent fantasies has started to wobble. Last year, for instance, the number of American Express cards in use declined by almost 18 percent, according to industry analysts. Amex’s 2016 revenue was down more than $2 billion from two years before. And the company’s relationships with Costco and JetBlue — long big sources of new cardholders — summarily ended when those firms found alternative credit card partners."
  • Grocery C&C Sees Robust Growth in Past Year - Progressive Grocer - "It’s no wonder that click-and-collect is so big. First, young families and affluent couples – grocers’ most important customers are “especially ready” to take advantage of online grocery shopping, according to a March 2016 report from the Grocery Manufacturers Association and The Boston Consulting Group. And when they do make purchases online, they’re likely to spend far more across all channels than they would have done shopping in the traditional manner, with uplift often ranging from 30 percent to 50 percent."
  • Lloyds to trial biometrics for online banking - NFC World - "Customers of Lloyds Banking Group across the UK will soon be able to log into their online banking accounts using fingerprint or facial recognition through Microsoft’s Windows Hello biometric authentication technology. The banking group is to trial the solution with Lloyds Bank, Halifax and Bank of Scotland customers with Windows 10 devices in the second half of this year."
  • Google Doodle honors Ghanaian entrepreneur and microlending pioneer Esther Afua Ocloo - Quartz - "Ocloo championed the role of women in economic development and advocated their access information on markets and product development. As the first chairwoman of the microlending nonprofit Women’s World Banking, she pushed for low-income women to get business loans and gain the skills needed to invest and run their businesses."

ON THE WIRES

  • ACH Volume Grows to More Than 25 Billion Payments and $43 Trillion in Value in 2016 - "Following four consecutive quarters of more than 5 billion electronic payments in each quarter – a first for the ACH Network – overall volume in 2016 amounted to 25.6 billion transactions, according to new statistics released today by NACHA — The Electronic Payments Association®. This represents an increase of 5.3 percent over 2015 volume, and is the third consecutive year in which volume grew by a billion transactions or more over the previous year. Additionally, $43.7 trillion was transferred over the ACH Network last year, an increase of 5.1 percent compared to 2015."
  • No cash? No problem! - A first in Canada: credit card payment tested onboard Laval buses - "The technology used is a contactless payment terminal similar to those found in most retailers across Canada. This Monetico payment solution, developed by Desjardins, allows for instant payment by simply tapping your card on the terminal. No swiping, inserting or personal identification numbers are required. This new credit card payment option is available for single fares, in addition to the traditional cash payment and the advance purchase of fares. This convenient solution will allow occasional riders of public transit to save time, not having to plan for exact change or to purchase fares in advance."
  • Wells Fargo Announces Support for PayPal Wallet for In-Store Transactions - "Wells Fargo & Company (NYSE:WFC) announced today that Wells Fargo customers will soon be able to use PayPal (NASDAQ:PYPL) to conveniently and securely make purchases with their mobile devices at participating merchants whose payment terminals are set up to accept near-field communication (NFC) payments."
  • B2B eCommerce Marketplace EC21 Launches Transactional Capabilities by Integrating Payoneer's Escrow Solution - "EC21, one of the world's largest B2B marketplaces connecting millions of suppliers and buyers worldwide, announced today new transactional capabilities powered by Payoneer's escrow service. By integrating with Payoneer's escrow API, EC21 is now able to expand beyond its traditional directory-style business model, which was limited to facilitating trade inquiry exchanges, to becoming a one-stop-shop for B2B eCommerce."
  • POS Portal and Vantiv Partner for Easy Delivery of Secure Payment Hardware - "POS Portal is excited to announce the availability of Vantiv ready payment devices for VARs, ISVs and Merchants. "
  • Apriva Adds Multifaceted Payment Solution for Canadian Vending Operators - "The new solution incorporates Crane Payment Innovation’s (CPI) MEI® Cashflow™ EasiChoice card reader and Apriva’s newly certified payment gateway interface for Interac Flash to TNS Smart Network Inc., a leading payments processing provider in Canada and the U.S. This new solution set provides one easy-to-use, seamless payment acceptance platform for Canadian vending operators to enable an enhanced customer experience with increased convenience and security."
  • Allied Wallet Sees Increased Success in Germany with Acceptance of Alternative Payment Methods - "81% of Germans are frequent online shoppers and the average German spends about 25.2 hours online per month. Surprisingly, credit cards only account for about 21% of the transactions in their e-commerce market. Allied Wallet is one of few payment service providers that can accept many alternative payment methods across the e-commerce landscape."

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!

April 17, 2017

Headline News from PaymentsNews.com - April 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

  • Ant Financial Raises MoneyGram Bid 36% to Fend Off Euronet - Bloomberg - "The revised bid is worth $18 a share in cash, up from a previous offer of $13.25, the companies said in a joint statement. The new deal, which has the backing of MoneyGram’s board, values all the common and preferred stock at $1.2 billion, it said. Euronet Worldwide Inc. last month offered $15.20 a share for the Dallas-based payments company."
  • With new govt app, use fingerprint to pay - Times of India - "Strongly backing the Aadhaar identity system, PM Narendra Modi on Friday launched the Bhim-Aadhaar Pay app, a system which allows payment through thumb impression. The PM lauded telecom minister Ravi Shankar Prasad and his team for their efforts in providing a sound ecosystem for 'Digital India' and asked him to get the technology patented. Modi said he had been asked by African leaders if India could help them set up similar processes in their nations."
  • The Risk of Rising Consumer Borrowing - Wall Street Journal - "Since the financial crisis, mortgage lending has been hogtied with new regulations that make it more difficult, especially for young or subprime borrowers, to get home loans. But other forms of consumer credit, including auto, student and credit card loans, have been growing strongly in recent years, helping boost retail spending, a major driver of economic growth."
  • Simple Shows Exactly Why Customers Don’t Trust Fintechs - Bank Innovation - "In February, the company reportedly had already transitioned 87% of its total customer accounts to BBVA, and now, about two months later, the accounts that have not yet been transferred for whatever reason will be automatically shut down. "

ON THE WIRES

  • E-commerce fraud increased 33 percent in 2016 - "Fraudsters continue to migrate their activities online as more merchants switch to EMV terminals and consumers receive chip-and-pin credit cards. Experian® analyzed this trend in a new report, the 2016 E-commerce Fraud Attack Rates rankings, that analyzes millions of e-commerce transactions and ranked the top states, cities and ZIP™ codes for shipping and billing fraud across the United States."
  • Zelle NetworkSM Banks Process 170-Million P2P Payments, Totaling $55-Billion in 2016 - "Early Warning Services, an industry-leader in real-time payment, authentication, and risk mitigation, today announced that financial institutions in the Zelle NetworkSM processed more than 170-million person-to-person (P2P) payments in 2016, totaling $55 billion in aggregate transaction value. The Zelle Network, built on the foundation of the clearXchange® Network, now includes 20 banks and credit unions, and is poised to reach an estimated 85-million consumers in the U.S. through the mobile banking apps of its participating institutions. New “Send Money with Zelle” experiences will be live in bank apps in mid-2017."

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!

April 13, 2017

Headline News from PaymentsNews.com - April 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

  • Android Pay links to mobile banking apps to simplify setup process - NFC World - "Android Pay has been integrated into the mobile banking apps of “several banks around the world” so that users can add their cards to the mobile payment service with “just the click of a button”. The feature will also work for those who have not installed Android Pay on their handset, giving them access to “the capabilities of Android Pay” without having to leave their mobile banking app. Supporting banks include Bank of America, Bank of New Zealand, Discover, mBank and USAA, with Google “continuing to integrate with additional mobile banking apps”."
  • Payments processor Adyen says revenues doubled to $727 million in 2016, no plans for an IPO - Venture Beat - "Adyen, the global payments processor that enables merchants to accept most kinds of payments online, on mobile, and in-store, has reported record revenues for 2016, having grown 99 percent year-on-year. The company said that it garnered €659 million ($727 million) last year, up from €331 million ($365 million) the year before."
  • Itty-Bitty Purchase? Put It on My Card - eMarketer - "Credit card usage for small purchases has risen over the past 12 months, according to a CreditCards.com survey in March. Cash and debit cards still dominate for small purchases, but 17% of the respondents in the survey said that credit cards were their primary method of paying for purchases under $5. A year ago, only 11% said that."
  • Blockchain for IoT: Promising, But Caution Needed - Coindesk - "Joe Pindar is CTO and director of product strategy at Gemalto, where he formulates roadmaps and prioritizes development to align the digital security provider with market trends. In this opinion piece, Pindar argues that while emerging blockchain technologies will gain traction in Internet of Things (IoT) applications, more work is needed to realize opportunities. "

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!

April 12, 2017

Headline News from PaymentsNews.com - April 12, 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

  • NETS buys 2 OCBC subsidiaries for S$38m - Channel NewsAsia - "The company's strategic acquisition will enable it to deliver payment innovations that are simple, swift, secure and accessible to its customers. "The assimilation of both companies will enable a more pervasive digital payment platform which will facilitate wider adoption and utilisation of electronic payments," it said. BCS manages and operates the clearing and payment infrastructure for the Singapore Clearing House Association (SCHA), including managing an electronic service that allows immediate transfer of Singapore dollar funds between accounts of the participating banks in Singapore. It was set up in 1976 and currently operates core services like FAST (Fast And Secure Transfers), IBG (Inter-bank GIRO) and CTS (Cheque Truncation System)."
  • Swift to Start Suspicious-Payment Alerts to Help Defend Banks - Bloomberg - "Swift, the interbank messaging system that hackers used to steal $81 million from Bangladesh last year, is developing a payment-screening service that will allow small member banks to automate the flagging of suspicious payments."
  • Visa and American Express to strengthen security for stolen contactless cards - NFC World - "The security processes in place today when a customer reports a stolen contactless card allow — in a “limited set of circumstances” — for the card to be misused by fraudsters “several months after it has been cancelled,” FCA chair John Griffith-Jones wrote in a letter to the Treasury Select Committee published last month. The key risk to customers occurs when merchants process payments offline and store them in a batch to process later on, Griffith-Jones explained. At present, around 45% of contactless card transactions occur offline."
  • App time will make up nearly 20% of total media time this year - eMarketer - "In 2017, the average US adult will spend 2 hours, 25 minutes per day using mobile apps, a jump of 10.3% over last year, and slightly higher than previously forecast."
  • Bitcoin miners have collectively earned more than $2 billion - Quartz - "Bitcoin mining has become a multi-billion dollar industry. Bitcoin miners have collectively earned over $2 billion in revenue since the cryptocurrency was established in 2008, according to an estimate from a new report published by the Cambridge Centre for Alternative Finance."
  • Biometric e-ID Solution to Help Alabamans File Taxes - Find Biometrics - "The app uses facial recognition to authenticate users, comparing smartphone images of their state-issued ID documents to selfie photos via biometric matching. As such it offers online authentication applications, offering greater convenience for users and stronger security compared to password-based systems. As Alabama Department of Revenue Commissioner Julie P. Magee explains in a statement announcing the pilot project, “There are no usernames or passwords; only a person’s photo can unlock the e-ID, making it secure and easy-to-use.”"
  • That Fingerprint Sensor on Your Phone Is Not as Safe as You Think - New York Times - "New findings published Monday by researchers at New York University and Michigan State University suggest that smartphones can easily be fooled by fake fingerprints digitally composed of many common features found in human prints. In computer simulations, the researchers from the universities were able to develop a set of artificial “MasterPrints” that could match real prints similar to those used by phones as much as 65 percent of the time."

ON THE WIRES

  • Adyen Discloses 2016 Revenues of $727 Million, Growing 99% Year-Over-Year - "Adyen, the technology company reinventing payments for the global economy, today announced 2016 revenue for the business surpassed $700 million, up from $365 million in 20151. The news follows Adyen's previous disclosure that it processed $90 billion in transactions in 2016, a year-over-year increase of 80 percent. With $727 million in revenue and 500 employees at the end of 2016, Adyen is bringing in over $1.4 million in revenue per employee."
  • Wirecard and National Bank of Greece Bring Alipay to Greece - "As banks in Greece often provide local merchants with the entire terminal infrastructure, Wirecard has enabled NBG to integrate Alipay across the country in as many locations as possible. The aim is for most Greek merchants who operate in significant tourist attractions in the country to be able to offer Alipay as a new payment solution at the point of sale (POS) for their Chinese customers."
  • Global Payments Launches Enhanced Ecommerce Offering in Canada - "Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology services, announced the launch of an enhanced ecommerce payments management offering for Canada. Leveraging the company’s Realex ecommerce technology, the platform provides a range of cloud-based, software enabled technology services for both large and mid-sized businesses to enable them to accept payments online, as well as via phone, mail, email or mobile devices."
  • Affirm Announces 1 Millionth Installment Loan - "Affirm, Inc., the financial services technology company started by Max Levchin to give consumers fair and honest financial products, today announced the 1 millionth consumer installment loan processed through Affirm and made by its bank partner, Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC."
  • 3 in 10 Have Never Redeemed Credit Card Rewards - "About three in 10 credit cardholders (31%) have never redeemed credit card rewards, according to a new Bankrate.com report. The survey found that cardholders typically gravitate to one extreme or the other, redeeming their rewards points/miles frequently (38% did so within the past six months) or not at all."
  • Zift Acquires Leading Payments Technology Company PayVisors - "Zift, a provider of merchant processing services and payment facilitation, announced today its acquisition of PayVisors, a leading payments technology consulting company. The acquisition positions Zift as one of the only true payment technology companies with the ability to provide a wide range of integrated omni-channel solutions to software developers, platforms, marketplaces, payment facilitators and merchants of all sizes."

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!

April 11, 2017

Headline News from PaymentsNews.com - April 11, 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

  • Cash Is Dead. Long Live Cash. - Wall Street Journal - "Hard currency as a percentage of U.S. gross domestic product is now at 8.6%, the highest level since the early 1950s, an era long before the widespread use of plastic and smartphones. Europe, Japan, and Australia have similar trends. The most likely reason for the cash paradox, analysts say: a thriving global underground economy of tax evasion, organized crime and terrorism financing. Digital payments may be faster and more efficient, but cash cloaks transactions in privacy."
  • More Millennials pay each other back with smartphones - San Francisco Chronicle - "Last year, Americans exchanged $147 billion with other people through smartphone apps or online services, according to research firm Aite Group. That was 47 percent more than in 2015, and it was fueled by two trends: people being more comfortable using their smartphones as a wallet and many Millennials preferring not to carry cash, said Talie Baker, an Aite analyst."
  • Facebook’s business model for Messenger won’t be payments and commerce after all - recode - "It’s been more than two years since Marcus took the helm, and payments and commerce have indeed become part of Messenger. They’re just not the part that’s immediately responsible for making money. It turns out that Messenger plans to make money the same way Facebook and Instagram do: With advertising."
  • Facebook Messenger now supports group payments - TechCrunch - "Facebook introduced person-to-person payments within Messenger in early 2015, but today the company announced the feature is expanding to support groups, as well. The payments feature essentially works the same in group chats as in private ones, but now allows users to pay either everyone in the group or individual members through a click of the payments icon (the dollar sign)."
  • San Antonio-based Harland Clarke Acquires RetailMeNot for $630 million - Silicon Hills News - "RetailMeNot, the world’s largest coupon site, has 527 employees, primarily in Austin, but it also has offices in Hoboken, Phoenix and international offices. The company will remain based in Austin and Cotter Cunningham, its founder, will continue on as Chief Executive Officer, according to a spokeswoman."
  • Swift Releases New Security Mandates for Users - Wall Street Journal - "Swift, the dominant carrier of cross-border payment instructions between banks, has finalized a new set of security standards its customers must follow by the end of this year—or risk being reported to regulators."
  • Banks scramble to fix old systems as IT 'cowboys' ride into sunset - Reuters - "The stakes are especially high for the financial industry, where an estimated $3 trillion in daily commerce flows through COBOL systems. The language underpins deposit accounts, check-clearing services, card networks, ATMs, mortgage servicing, loan ledgers and other services. The industry's aggressive push into digital banking makes it even more important to solve the COBOL dilemma. Mobile apps and other new tools are written in modern languages that need to work seamlessly with old underlying systems."

ON THE WIRES

  • Mastercard Gains Regulatory Approval to Acquire VocaLink - "Mastercard today commented on the UK’s Competition & Markets Authority’s decision that clears the way for the completion of the company’s planned acquisition of VocaLink Holdings Limited. The CMA gave final approval for the proposed set of remedies that address the competition concerns the CMA identified earlier this year. The deal is now expected to close in the coming weeks."
  • Central Bank of Iceland Chooses SIA to Implement the New Real-Time Gross Settlement System and the New Instant Payment Platform - "These technology infrastructures developed by SIA, planned to go live in 2018, will replace CBI’s current mainframe-based real-time solutions for high and low-value payment systems, which have been operating since 2001. SIA will use its wholly-owned subsidiary Perago, based in Pretoria (South Africa), specialized in central bank solutions."
  • Apriva and OTI Announce Semi-Integrated Solution for Unattended Markets - "Apriva, a leading provider of omnichannel payment solutions and secure mobile communications, and On Track Innovations Ltd. (OTI) (NASDAQ: OTIV), a global provider of near field communication (NFC), cashless payment and fuel management solutions, announced today a partnership to bring a new end-to-end EMV solution to markets supporting unattended payments."
  • RetailMeNot to Be Acquired by Harland Clarke Holdings for $11.60 per share in Cash - "Harland Clarke Holdings Corp. ("HCH"), a provider of best-in-class integrated payment solutions and marketing services, today announced it has reached a definitive agreement to acquire RetailMeNot, Inc. (NASDAQ: SALE), a leading savings destination connecting consumers with retailers, restaurants and brands, both online and in-store. Under the agreement, Harland Clarke Holdings, a wholly owned subsidiary of MacAndrews & Forbes Incorporated and owner of Valassis, a leader in intelligent media delivery, providing unparalleled consumer targeting insights on a large scale, will acquire all of the outstanding shares of RetailMeNot Series 1 common stock for $11.60 per share in cash."
  • The Majority of Today's Corporations Send Cross-Border Payments, Study Shows - "The study, which focused on current market trends and common challenges companies face in global payments management, highlighted the challenges businesses are having managing their cross-border supplier payment operations."
  • Noventis Payment Network is Solving Healthcare Payment Problems - "Noventis, Inc., (Noventis) is helping the healthcare industry reduce its dependence on paper checks by expanding its network of over 100,000 billers to include thousands of healthcare providers that can accept electronic payments. In an industry where payment cycles often exceed one month, the Noventis payment platform's ability to convert checks and other cumbersome transactions into fast, efficient digital payments is a welcome change for all parties."

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!

April 10, 2017

Headline News from PaymentsNews.com - April 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

  • Episode 50 – Internet identity, privacy, and a blockchain – SecureKey - Glenbrook’s Payments on Fire podcast - "The term identity gets used a lot whenever internet payments and security are discussed. Knowing who we transact with is still the knotty problem."
  • UNITED AIRLINES STARTS ACCEPTING UNIONPAY CREDIT CARDS FOR TICKET BOOKING - Cards International - "The latest agreement enables the travellers to log on the official website of United Airlines, type in the departure time and destination, choose the flight, fill in personal information, and then select ‘UnionPay Card’ as the payment option to pay with UnionPay credit cards easily and safely. Starting second quarter of this year, the airline will also support online payment using UnionPay debit cards, and the webpage will not be redirected, thereby further improves user experiences."
  • Facebook Messenger adds payment prompts using artificial intelligence - NFC World - "Facebook Messenger users across the US are now being prompted to send and request money transfers by an artificial intelligence-based feature that detects when a payment is being discussed in a conversation on the social media platform and responds with a suggestion designed to help the user complete that payment."
  • Offering a Smorgasbord of Lenders, Vyze Looks to Push up Point-of-Sale Credit Approvals - Digital Transactions News - "Companies like Klarna and Affirm have made a splash with on-the-spot credit for online purchases. Now, Austin, Texas-based Vyze Inc., is out to combine the idea of transactional credit with that of a cloud-based finance supermarket, and make the combination available at the point of sale."
  • Source: Microsoft Microsoft's Minecraft Set to Launch its Own Currency - Bloomberg - "Microsoft Corp. is adding a new marketplace -- and a brand new currency -- within the video-game Minecraft, opening up the opportunity for businesses to sell their original content and creations to tens of millions of the game’s players for the first time. "
  • India's Flipkart Raises $1.4 billion in Biggest Ever Funding Round - Business of Fashion - "India's top e-commerce firm Flipkart has raised $1.4 billion from Tencent Holdings Ltd, Microsoft Corp and eBay Inc, the company said in a statement on Monday."
  • Amazon’s Third-Party Sellers Hit By Hackers - Wall Street Journal - "In recent weeks, attackers have changed the bank-deposit information on Amazon accounts of active sellers to steal tens of thousands of dollars from each, according to several sellers and advisers. Attackers also have hacked into the Amazon accounts of sellers who haven’t used them recently to post nonexistent merchandise for sale at steep discounts in an attempt to pocket the cash, those people say."
  • How Amazon Go (probably) makes “just walk out” groceries a reality - Ars Technica - "Amazon Go clearly seems like a product of the same fundamental advances in artificial intelligence, computer vision, and automated decision-making that are behind AlphaGo and the sudden explosion of self-driving cars."
  • How Hackers Hijacked a Bank’s Entire Online Operation - Wired - "Kaspersky isn’t releasing the name of the bank that was targeted in the DNS redirect attack. But the firm says it’s a major Brazilian financial company with hundreds of branches, operations in the US and the Cayman Islands, 5 million customers, and more than $27 billion in assets. "
  • Wonga data breach could affect nearly 250,000 UK customers - The Guardian - "More than a quarter of a million customers of payday loan firm Wonga are being warned that their personal data may have been stolen in a data breach at the firm."

ON THE WIRES

  • Visa Launches Enhanced Transaction Data for Amazon Business Customers in the U.S. - "Today, Visa Inc. (NYSE:V) has become the first card network to enable participating issuers to provide their U.S. commercial accountholders a comprehensive view of their Amazon Business purchases. The new enhanced transaction data functionality, initially available to Bank of America Merrill Lynch, Citi and PNC Bank, N.A., U.S. commercial accountholders through Amazon Business, provides full line-item details on Amazon Business customers’ purchases made with their Visa commercial card and can seamlessly integrate with popular reconciliation tools."
  • Credit Cards Gaining on Debit Cards for Small Purchases - "Credit card usage is on the rise for in-person purchases under $5, according to a new report from CreditCards.com. Among credit cardholders, 17% indicate that they most frequently use a credit card for small transactions, up from 11% last year. The increase comes at the expense of debit cards (24%) and cash (55%), both of which saw a three percentage point drop in the last 12 months."

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!

April 07, 2017

Headline News from PaymentsNews.com - April 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

  • Cross-Border Trade: PayPal’s $400B Business - PayPal blog - "In 2016 alone, we saw more than 9.8M merchant active accounts sell at least one item and 106M consumer active accounts purchase at least one item cross-border via PayPal. These transactions spanned more than 19,000 global trade corridors, 45 verticals, and 25 currencies, with roughly 60% of the transactions processed between countries outside the U.S."
  • From groceries to fine art, blockchain finds widening appeal - San Francisco Chronicle - "“Whether you’re talking about a commodity or anything else, it’s a secure road map of where it’s been and who’s held it,” said Grant Fondo, an attorney and co-chairman of the digital currency and blockchain practice at the law firm Goodwin Procter in San Francisco."
  • Lipa Na M-PESA Buy Goods merchant fee tariff cut by 50pc - Capital Business - "Safaricom has announced that it will reduce all Lipa Na M-PESA Buy Goods merchant fee tariff by 50 percent beginning the first week of April. Under the new tariff, merchants will be charged a maximum of 0.5 percent of the transaction amount, down from the previous maximum of 1 percent."
  • Stripe opens its Atlas program to US-based startups - TechCrunch - "A little over a year ago, Stripe introduced its Atlas program as a way to help international entrepreneurs get incorporated and set up with everything they’d need to do business in the U.S. Now the payments startup is opening up the program as a way to facilitate company creation for founders that are already here."
  • Retailers Go Small As ‘Immediate Needs’ Drive 61% Of Shopping Trips - Retail Touch Points - "Small format retail categories — drug, dollar and convenience stores — outgrew larger format stores by almost 400% in 2015, and now make up a more than $1 trillion market."
  • Facebook’s AI assistant will now offer suggestions inside Messenger - The Verge - "Those capabilities include sending stickers on your behalf, initiating payment requests through Messenger, calling a ride-hailing app like Uber and Lyft, starting a poll for group chat participants, and sharing your location with others."
  • Incident Response as "Hand-to-Hand Combat" - Schneier on Security - "NSA Deputy Director Richard Ledgett described a 2014 Russian cyberattack against the US State Department as "hand-to-hand" combat"

ON THE WIRES

  • Rossmann Becomes First Large Retail Chain in Germany to Offer Alipay Payments in Collaboration With Wirecard - "Wirecard AG has secured Dirk Rossmann GmbH, one of the largest drugstore chains in Germany, as a customer: Rossmann will soon offer Alipay as a new payment method in all branches with immediate effect. This means that Chinese tourists can shortly use their familiar Alipay App to pay at all of the merchant's checkouts and online shops. In order to do this, Wirecard has integrated Alipay Barcode Payment into Rossmann's till system and will assume the processing for these payments. "
  • Payscape Announces Partnership with Embassy National Bank - "Payscape and Embassy now stand together in representing small businesses in the metro-Atlanta area and all outside affiliates. In this new partnership, they can impact their home-base by providing a new and established workforce with the products needed to run a successful large or small scale business. Whether they need to accept credit cards at their retail storefront, process payments on a mobile phone, operate an online shopping cart, or electronically invoice clients, Payscape has solutions that will satisfy every cash flow need."
  • Lightspeed Announces Five Noteworthy Hospitality Customers - "Lightspeed, the world's most powerful cloud-based point of sale system for restaurants and retailers, today announced the signing of five clients within the hospitality sector, signaling strong growth for independent businesses in North America's food and drink sector."

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!

April 06, 2017

Headline News from PaymentsNews.com - April 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

  • Cash continues to dominate Eurozone payments - Mobile World Live - "The majority (75 per cent) of point of sale payments made in the Eurozone are cash transactions, despite the wide availability of digital payment options including mobile, the European Central Bank (ECB) revealed."
  • ISO rolls out new standards for mobile banking - Finextra - "ISO 12812, Core banking - Mobile financial services, defines common terms and requirements for greater interoperability. It specifies the technical components and their interfaces and the role of the various parties so that everyone is on the same page."
  • Apple’s insidious minimalism has finally inspired an industry that needs it: ATM design (Video) - Quartz - "Drawing aesthetic cues from consumer electronics and mobile devices, the world’s biggest ATM manufacturer Diebold Nixdorf unveiled yesterday a prototype for an über sleek ATM machine that looks surprisingly familiar."
  • Bitcoin Could Soon Be Accepted at 260,000 Stores in Japan - Crypto Coin News - "Japan’s legal classification of bitcoin as a payment method is set to trigger a bitcoin boom in adoption as retailers make haste to accept the world’s most popular cryptocurrency. Late last year, Japanese officials took the formal decision to end the 8% consumption tax rate imposed on bitcoin buying through digital currency exchanges. On April 1, 2017, Japan officially recognized bitcoin as a method of payment."
  • Monzo, a UK digital-only challenger bank, granted full banking license - TechCrunch - "Monzo, one of a number of so-called “challenger” banks in the U.K. aiming to re-invent the current account, has had the “restrictions” on its banking license lifted and says it will begin rolling out full current accounts to its pre-paid card and beta app users."
  • Wells Fargo signs data sharing deal with financial aggregator Finicity - Finextra - "Wells Fargo's efforts to strengthen data access and sharing for customers using third party apps has moved on apace with an API integration agreement with real-time aggregation service Finicity."
  • Low uptake of SIM-based mobile payments leads to decrease in NFC SIM shipments in 2016 - NFC World - "The global number of NFC SIM card shipments decreased in 2016 due in part to a “lower than anticipated” consumer uptake of SIM-based mobile payments and the impact of the closure of the Softcard mobile wallet in the US, the SIMalliance has revealed, despite reporting growth in NFC SIM shipments in key countries across Europe and the CIS regions, highlighting the demand in specific markets."
  • Deutsche Bank customers get HCE mobile payments - NFC World - "Customers of Deutsche Bank in Germany can now make host card emulation (HCE) based mobile payments using their Mastercard credit or debit card through the bank’s Deutsche Bank Mobile app. "
  • Why banks need a guard tower in the war against cyberattacks - American Banker - "One critical aspect of the new technology, Gentry said, is a “gateway security” function that prevents malware from infecting devices by allowing known good files to run unfettered, blocking known bad files, and running all unknown files in a lightweight virtual container where they can then be further analyzed safely."

ON THE WIRES

  • Cayan Announces SMB Payments Partnership With Deluxe - "Cayan, a payment technology company, today announced a strategic partnership with Deluxe, a growth engine for small businesses and financial institutions. With this partnership, Cayan will enable Deluxe's small business merchants to establish an ecommerce presence. Deluxe works with leading business brands such as Aplus.net®, Vertical Response®, Orange Soda®, Jumpline®, Hostopia®, NEBs® and Safeguard®."
  • Mastercard Continues to Make Mobile Payments in UAE Safer, Simpler and More Convenient with Samsung Pay - "In a move to further expand its efforts towards displacing cash, spurring innovation and driving the growth of cashless payments in the region, Mastercard today announced that Mastercard cardholders from select banks in the UAE* will now be able use the Samsung Pay service to make payments in a quick and secure way."
  • Sterling Payment Technologies Unveils Enhanced EMV Payment Solution Leveraging Ingenico Group’s Smart Terminals - "Sterling Payment Technologies, a leading provider of secure payment processing, and Ingenico Group, the global leader in seamless payment, today announced the release of the market’s first EMV payment solution that supports tip adjust from the point of sale solution and point-to-point encryption (P2PE) for Ingenico Group’s semi-integrated smart terminal solutions, the iCT 220CL and the iCT250. The new solutions leverage the benefits of Sterling’s proprietary processing platform."
  • Visa Checkout Reaches Milestone of 20 Million Enrolled Consumers - "Visa Inc. (NYSE:V), today announced that Visa Checkout, the easier way to use a Visa card online, is sustaining tremendous growth, reaching more than 20 million enrolled accounts. Visa Checkout enables millions of consumers to pay in just a few clicks on any device around the web with some of the world’s top merchants."
  • Bluefin Announces EMV Certification with First Data on their PayConex Plus Payment Platform - "Bluefin Payment Systems, the leading provider of PCI-validated Point-to-Point Encryption (P2PE) payment solutions for retail, healthcare and higher education, today announced the EMV certification of their PayConex Plus Payment Platform with global payment technology solutions company, First Data."

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!

April 05, 2017

Headline News from PaymentsNews.com - April 5, 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

  • Apple Pay promised to make plastic obsolete. Then came wary shoppers, confused clerks - Wall Street Journal - "The pace of Apple Pay adoption has been “disappointing even to conservative expectations,” said Gene Munster, managing partner at Loup Ventures, a venture-capital firm specializing in tech research. Just 13% of the estimated 680 million iPhone users have used Apple Pay, according to the research firm."
  • Wells Fargo’s aggressive sales tactics hit small firms - Wall Street Journal - "Wells Fargo & Co. has overhauled its credit-card processing business after an internal probe found some employees falsely reported customers’ sales and pushed small firms into costly contracts they didn’t understand."
  • Adblock Plus owner Eyeo acquires micropayments service Flattr - VentureBeat - "For Adblock Plus, which has been helping internet users dodge pesky advertisements for years, notching up more than a hundred million users en route, the acquisition makes sense. Eyeo has been facing mounting pressure from the media industry for its role in blocking revenue streams for online publishers, though despite numerous court battles in Germany, it has yet to be ruled illegal."
  • Facebook's Shot at India Redemption - Bloomberg - "After its plan to offer free internet in India was rejected, Facebook Inc. may soon find that the fastest way to consumers' hearts is through their wallets. Digitally. Its WhatsApp service is preparing to start digital payments in the country, a move that would leverage India's rush to online transactions after November's sudden demonetization, the Financial Times reported. "
  • Big Data versus money laundering: Machine learning, applications and regulation in finance - ZDNet - "Predicting and acting upon financial fraud is one of the prime areas of application of advanced big data techniques like machine learning (ML). Earlier this week, a case of money laundering known as the Laundromat was uncovered by the Organized Crime and Corruption Reporting Project (OCCRP) involving a number of global banks active in the UK. Could ML help prevent such incidents? What progress is there on this front, how does it fit in the bigger picture, what are the roadblocks, and what may be the repercussions of adoption?"
  • Decentralizing Central Banks: How R3 Envisions the Future of Fiat - Coindesk - "The future of central banks could be either on an open, permissionless blockchain or a closed, permissioned distributed ledger, according to a paper released today by bank consortium R3. That is, assuming anything changes at all."
  • India’s National ID Program May Be Turning The Country Into A Surveillance State - Buzzfeed - "When it was first rolled out in 2009, Aadhaar was envisioned as a voluntary identity system that would help the Indian government crack down on fraud in the country’s notoriously corrupt welfare system. But over the years, it’s become effectively mandatory as the government and private sector alike rely on it to provide all manner of identity-linked services to India’s vast and diverse population. Now, less than a decade after its debut, Aadhaar is, for many Indian citizens, a proverbial “one ID to rule them all.”"

ON THE WIRES

  • DAVO Sales Tax, By DAVO Technologies Is Now Available To Square Customers - "DAVO Sales Tax, the only integrated and automated sales tax cash management solution targeted to small and medium sized businesses is now available to Square customers. The integration of DAVO’s unique sales tax solution enables Square users the ability to board the DAVO Sales Tax application and forget about sales tax forever."
  • WesPay Study Finds Low Awareness and Adoption of U.S. Faster Payments Solutions - "A survey of 430 financial institutions in the Western United States conducted online in February 2017 by WesPay, the trade association for electronic payments compliance and operational sound practices, found awareness and adoption of faster payments solutions among its members remains low. For Same Day ACH, a majority (57%) of respondents indicated that the September 2016 implementation of faster credits “has had no measurable impact on our customers/members’ transactions.” When asked about the Federal Reserve Faster Payment Task Force, 34% indicated they were unaware of the initiative and 46% indicated that they had only high-level knowledge."
  • PayPal and Visa Extend Partnership to Accelerate Adoption of Digital and Mobile Payments across Asia Pacific - "PayPal (Nasdaq: PYPL) and Visa (NYSE: V) today announced an extension of their U.S. partnership in Asia Pacific that will see them work collaboratively to accelerate the adoption of secure, reliable and convenient digital and mobile payments for consumers and merchants in markets throughout the region."
  • ACI WORLDWIDE DELIVERS SEAMLESS MOBILE CHECKOUT EXPERIENCE IN MIDDLE EAST AND NORTH AFRICA WITH HYPERPAY - "ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, today announced that HyperPay, a leading payment service provider (PSP) in the Middle East and North Africa (MENA) region, now offers merchants a seamless mobile checkout solution with the ACI Mobile Commerce Software Development Kit (mSDK), part of ACI’s UP eCommerce Payments solution."
  • Apriva and Apptizer Bring Mobile Store Apps to Multiple Markets - "Apriva’s EMV-enabled Gateway brings state-of-the-art security with end-to-end encryption, tokenization, and EMV capabilities to Apptizer’s solutions, while connecting a variety of payment devices to Apriva’s vast processor connections. As a result of the integration, merchants can quickly enable acceptance of all major debit and credit cards, in addition to NFC and contactless payments, through multiple mobile channels, ensuring customers can more easily and conveniently purchase products and services."
  • Western Union Announces Apple Pay® Support In-App for Mobile Money Transfers - "The Western Union Company (NYSE: WU), a leader in global payment services, today announced that United States customers using its mobile app can now pay with Apple Pay when sending money transfers originating in the United States to more than 200 countries and territories worldwide, including domestic bill payments. The capability to pay with Apple Pay for sending money transfers through the Western Union app in the United Kingdom is planned for later this year."
  • NCR Brings Silver™ Tablet POS System to Australian Shores - "NCR Corporation (NYSE: NCR), a global leader in omni-channel solutions, has launched the NCR Silver family of point-of-sale (POS) solutions to Australian retail, service and restaurant merchants."
  • Avangate Acquires 2Checkout to Expand Payment Flexibility and Broaden Market Reach - "Avangate, the global eCommerce and subscription billing platform for software, SaaS, and digital solutions, announces its acquisition of 2Checkout, a global payment processor. The combined company will offer the industry’s most comprehensive product and service suite in the subscription billing and eCommerce space, linking payment model flexibility with advanced eCommerce, recurring revenue management, and marketing capabilities on a global level."

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!

April 04, 2017

Headline News from PaymentsNews.com - April 4, 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 50 – Internet identity, privacy, and a blockchain – SecureKey - Glenbrook’s Payments on Fire podcast - "The term identity gets used a lot whenever internet payments and security are discussed. Knowing who we transact with is still the knotty problem. That’s the subject of this podcast with Andre Boysen, Chief Identity Officer of SecureKey. Join George and Andre as they talk about trust on the internet, SecureKey’s approach, and the company’s use of blockchain technology via a partnership with IBM."
  • Ant Financial and Euronet take MoneyGram fight to Capitol Hill - Wall Street Journal - "The battle between Chinese billionaire Jack Ma’s Ant Financial Services Group and a Kansas rival to acquire MoneyGram International Inc. has sparked a lobbying war over a deal set to test the Trump administration’s view of Chinese investment in the U.S."
  • Samsung Pay expands on online payments plan - NFC World - "Samsung Pay will be available for online payments at “hundreds of thousands of merchants around the world” where Visa Checkout is accepted later this year. The news follows an announcement by the company’s Justin Denison at Samsung Unpacked 2017 last week that the service was heading online through “strategic partnerships”."
  • The Macroeconomics of De-Cashing - IMF Working Papers (Paywall) - "The overall macreconomic impact of de-cashing would depend on the balance of growth-enhancing and growth-constraining factors. Starting from a traditional saving-investment balance, the paper develops a four-sector macroeconomic framework."
  • Digital clue links North Korea to theft from Bangladesh account at Fed, security firm says - Wall Street Journal - "A newly discovered digital clue links the hacking group blamed for a multimillion-dollar cyberattack on Bangladesh’s central bank to a computer in North Korea, according to the Russian cybersecurity company Kaspersky Lab ZAO."
  • Need cash? Azimo lets recipients sort out money transfer headaches - Reuters - "The new feature, which was introduced on Tuesday, eliminates the need for senders to remember the account details or bank IBAN numbers in order to transfer money to recipients, a stumbling block that has complicated existing money transfers. Indian mobile ecommerce site Paytm also operates a similar feature. Paytm is owned by One97 Communications and has proved to be hugely popular since the country's government demonitized all old 500 ($7.70) and 1000 rupee banknotes in November."
  • Peer-to-Peer Pay for WhatsApp, the next big app update - Hi-Tech Gazette - "Whatsapp has confirmed the possibility of peer-to-peer payment within the app. According to reports from The Ken, the application would be about to introduce peer-to-peer payments in India, its largest market with more than 200 million users."
  • Target Deploys RFID In 1,600 Stores - Retail Touch Points - "The companywide implementation, however, exemplifies a growing trend of brands striving for more accurate inventory visibility. Macy’s established a goal to tag 100% of its merchandise with RFID by the end of 2017, so it’s clear retailers see benefits in the technology."
  • What the Public Knows About Cybersecurity - Pew Research Center - "A majority of internet users can answer fewer than half the questions correctly on a difficult knowledge quiz about http://hitechgazette.com/2017/04/04/peer-to-peer-pay-for-whatsapp-the-next-big-app-update/ issues and concepts."

ON THE WIRES

  • B2B Marketplaces Choose Payoneer to Transform Their Business Model - "Following the acquisition of online escrow provider Armor Payments last year, Payoneer, a leading cross-border payments company, has seen its new escrow solution transform numerous B2B marketplaces from directories to secure B2B eCommerce sites. Online B2B marketplaces have integrated Payoneer's escrow payment solution, empowering secure transactions between businesses all over the world that buy and sell across a range of categories. These businesses are as wide reaching as apparel, film and series rights, aviation and maritime, and include BidAero, BidSlate, EC21, Eiffel Trading Company, HarbourYard, K-Lawyers, Seasupport, Renescrow, and YieldOrganic."
  • USA Technologies Achieves Three-Year Goal of 500,000 Connections to its ePort Connect® Service - "USA Technologies, Inc. (NASDAQ:USAT) ("USAT"), a payment technology provider of cashless and mobile transactions in self-serve retail, today announced that during its third fiscal quarter, which ended March 31, 2017, the company crossed its goal of 500,000 connections to its ePort® Connect service."
  • InComm Japan Partners with WeChat Pay - "InComm Japan's POSA network, which connects with more than 50,000 retail stores in the country, will facilitate customer purchases at the point of sale utilizing WeChat Pay issued barcodes. By leveraging this POSA technology, WeChat Pay customer account billing can be applied at the point of sale. This makes it unnecessary to set up a dedicated terminal and makes WeChat Pay services possible at all InComm retailers."
  • Paygilant and Citi Streamline the Customer Validation Operational Costs Related to Mobile Transactions - "Paygilant, founded in 2014, provides an on-device mobile wallet fraud detection solution that minimizes both as mobile wallet fraud as well as customer authentication friction. The solution detects fraud on the mobile device itself in the pre-transaction phase as opposed to after-the-fact traditional legacy systems which are strongly dependent on call center operations for transaction validation."
  • ThreatMetrix Spring '17 Release Unveils Major Enhancements to Dynamic Decision Platform: Case Management, Digital Identity Verification and Strong Customer Authentication - "Key enhancements include state-of-the-art Case Management for continuous and dynamic optimization of fraud decisions, new Digital Identity Verification capabilities, and a new Strong Customer Authentication framework to enhance the mobile offering and meet upcoming PSD2 requirements."

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!