Payments News from Glenbrook Partners
Glenbrook   Book   Education   Views   Archives   Store   About         SUBSCRIBE:

July 18, 2017

Headline News from PaymentsNews.com - July 18, 2017

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

ON THE WEB

  • P2P Payment Transactions to Exceed $120 Billion This Year - eMarketer - "The use of mobile peer-to-peer (P2P) payment apps such as Venmo in the US will continue to grow by double digits through 2021, according to eMarketer’s latest mobile banking and payments forecast."
  • Instant bank transfers are coming to PayPal and Venmo - TechCrunch - "PayPal announced this morning a plan to speed up money transfers between its service, Venmo and users’ bank accounts for those with supported MasterCard and Visa debit cards. This new “instant transfers” service will be available at a rate of $0.25 per transaction, and will deliver funds in a matter of minutes, instead of the day or so it typically takes when using PayPal or Venmo."
  • Mastercard to buy AI outfit Brighterion - Finextra - "Mastercard is looking to boost its fraud detection capabilities through the acquisition of artificial intelligence specialist Brighterion. Financial terms of the deal were not disclosed."
  • Payments Through Voice-Controlled Devices Begin To Attract Consumers, Survey Finds - Digital Transactions News - "Some 19% of consumers participating in a recent survey said they have made a product purchase through Amazon.com Inc.’s Echo or a similar voice-controlled device within the past year."
  • QR code takes a baby step in world conquest as group adopts global cashless payment format - South China Morning Post - "EMVCo, a consortium for smart payments that’s collectively owned by American Express, Visa, Mastercard and UnionPay, on Saturday published the first version of QR code specifications, or the industry standard for the payment format, a year after UnionPay proposed a safe and open global system."
  • Mastercard And Visa Lose Share To UnionPay In Global Cards Market - Payments Afrika - "According to RBR’s Global Payment Cards Data and Forecasts to 2022 study, the continued rapid expansion of the Chinese cards market has helped UnionPay to increase its share of cards to 43% in 2016, and extend its lead over Visa and Mastercard. UnionPay has been the largest scheme globally for card numbers since 2010 and, by the end of 2016, there were more than six billion UnionPay-branded cards in circulation."
  • Apple unveils promotional campaign to win Chinese consumers to Apple Pay - South China Morning Post - "Between July 18 and 24, consumers using Apple Pay to make payments in designated online and offline merchants in mainland China that display the logo of UnionPay’s quick pass facility will receive discounts of up to 50 per cent and as much as 50 times the usual amounts of reward points for credit cards, according to Apple’s official Chinese website."
  • UK’s digital-only Starling Bank adds Apple Pay support - TechCrunch - "Digital-only UK “challenger” bank, Starling Bank, has added support for Apple Pay — meaning its customers can now add their Starling debit card to their Apple Wallet and make contactless payments drawing from funds in their Starling account via their Apple devices."
  • Dubai’s Nol cards can now be used for payment at 1,000 retail units - Gulf Business - "Dubai’s Roads and Transport Authority (RTA) has announced that Nol cards can now be used to make payments at more than 1,000 selected retail outlets across in the emirate. Nol cards are used to pay for public transport systems such as the Metro, Tram, buses and water taxis. It can also be used to pay for parking at public metres."
  • Jumio adds eyeball tracking to Netverify - Finextra - "When verifying an identity, in addition to conducting a “liveness” check to ensure a real person is holding the device, Jumio will require users to follow an icon on the mobile device screen with their eyes as it moves in a random pattern. This technology will be available to all Netverify users, including banking institutions, sharing economy providers, online gaming and travel companies."
  • Next-Gen Subway Restaurants offer Apple Pay at Self-Serve Kiosks along with USB Charging & Complimentary Wi-Fi - Patently Apple - "This morning Subway announced their new restaurant design and customer experience. Trevor Haynes, Vice President of Operations at Subway stated for the occasion that "We've created a modern design that gives our guests choices – from how they order, to how they pick up their food, to how they enjoy their meal. The reactions from our guests, our franchisees and the Sandwich Artists has been incredibly positive."
  • Swatch partners with eleven Chinese banks for second-generation payments watch - NFC World - "Four new NFC smart watches that make use of China UnionPay’s cloud-based payments service have been unveiled in Shanghai by Swatch Group CEO Nick Hayek."
  • Cryptocurrencies are crashing, but bitcoin isn’t falling as badly as the rest - Quartz - "Cryptocurrency markets are crashing. Bitcoin’s price has fallen by about 20% in the last seven days, wiping out $7 billion of market value. But it’s doing better than other major cryptocurrencies like ether and ripple, which have lost 30% or more."
  • Hacker Uses A Simple Trick to Steal $7 Million Worth of Ethereum Within 3 Minutes - The Hacker News - "The heist happened after an Israeli blockchain technology startup project for the trading of Ether, called CoinDash, launched an Initial Coin Offering (ICO), allowing investors to pay with Ethereum and send funds to token sale's smart contact address. But within three minutes of the ICO launch, an unknown hacker stole more than $7 Million worth of Ether tokens by tricking CoinDash's investors into sending 43438.455 Ether to the wrong address owned by the attacker."

ON THE WIRES

  • Mastercard Enhances Artificial Intelligence Capability with the Acquisition of Brighterion, Inc. - "Mastercard (NYSE:MA) today announced it has entered into an agreement to acquire Brighterion, Inc., a leading software company specializing in artificial intelligence. This acquisition will further expand its suite of capabilities that deliver an enhanced customer experience and security."
  • At Mid-Year, U.S. Data Breaches Increase at Record Pace - "The number of U.S. data breaches tracked through June 30, 2017 hit a half-year record high of 791, according to recent numbers released by the Identity Theft Resource Center (ITRC) and CyberScout. This represents a significant jump of 29 percent over 2016 figures during the same time period. At this pace, ITRC anticipates that the number of breaches could reach 1,500 in 2017, a 37 percent annual increase over 2016, when breaches reached an all-time record high of 1,093."
  • MagnaChip Selected as Foundry Partner by ELAN Microelectronics For World's First Fingerprint Sensor IC-Based Smartcard - "MagnaChip Semiconductor Corporation ("MagnaChip" or the "Company") (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor platform solutions for communications, IoT, consumer, industrial and automotive applications, announced today it was selected as a foundry partner by ELAN Microelectronics to manufacture the world's first fingerprint sensor IC-based smartcard. The smartcard uses biometrics technology that provides secure identification to prevent credit card fraud, a severe and growing problem globally. The sensor-IC based smartcard will be manufactured utilizing MagnaChip's 0.35 micron Mixed Signal Thick IMD manufacturing process technology."

GLENBROOK PAYMENTS EDUCATION EVENTS

Understanding the accelerating pace of change in the payments 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. Take a discount for attending all three days. Here's our fall schedule:

  • Payments Boot Camp, October 3-4, 2017, San Jose, CA, Logistics
  • Payments Boot Camp, October 17-18, 2017, NYC, NY, Logistics
  • Payments Boot Camp, December 5-6, 2017, Palo Alto, CA, Logistics
  • Global Payments, October 5, 2017, San Jose, CA, Logistics
  • Digital Payments, October 19, 2017, NYC, NY, Logistics
  • Innovation in Payments, December 7, 2017, Palo Alto, CA, Logistics
  • For more, click 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!

    July 17, 2017

    Headline News from PaymentsNews.com - July 17, 2017

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

    ON THE WEB

    • In Urban China, Cash Is Rapidly Becoming Obsolete - New York Times (Paywall) - "Almost everyone in major Chinese cities is using a smartphone to pay for just about everything. At restaurants, a waiter will ask if you want to use WeChat or Alipay — the two smartphone payment options — before bringing up cash as a third, remote possibility."
    • You'll soon be able to use PayPal to fund Samsung Pay purchases - The Verge - "Samsung Pay will soon accept PayPal as a payment method in addition to bank accounts, credit cards, and gift cards. It’s a tiny update that could be useful for PayPal customers who want more avenues to spend their PayPal balance in stores, as Samsung Pay is widely accepted anywhere a credit card is. The new partnership also allows merchants who use Braintree, PayPal’s subsidiary, to add Samsung Pay as a checkout option. The update, coming soon, will be available first for customers in the US, with a more global expansion to follow."
    • The Plan to Make Chip Credit Cards Less Annoying - Bloomberg - "The fastest, most convenient option is contact-less payments, in which customers check out by waving a card or phone in front of a payment terminal. Unfortunately, widespread adoption of the technology would be another logistical challenge for an industry still adjusting to basic EMV chips. "
    • Plastic-Versus-Cash Battle Heats Up After Visa, Mastercard Deals - Bloomberg - "Visa and Mastercard already have made big inroads in expanding credit-card usage. They handled $4.3 trillion in payments in the U.S. last year, more than double from a decade ago. Still, the amount of currency in circulation also has doubled in that period, and cash remains the most widely used payment instrument in the U.S."
    • Paytm Mall Delists 85K Sellers; Overhauls Sellers Onboarding Process - Inc42 - "The delisting of a huge chunk of sellers can be seen as an effort to establish the authenticity of the ecommerce platform. The Alibaba-backed ecommerce marketplace is also gearing up to compete against ecommerce giants Amazon India and Flipkart. Earlier this month, reports surfaced that Paytm Mall was in talks with online grocery startup Bigbasket to invest $200 Mn for a substantial stake in order to enter the hyperlocal space."
    • Visa touts free money transfers in Kenya via mVisa service - Mobile Payments Today - "Visa announced that customers of a Visa-affiliated banks in Kenya will be able to send money to each other domestically without paying transaction fees using mVisa, according to a press release."
    • The Crazy Security Behind the Birth of Zcash, the Inside Story - IEEE Spectrum - "In Zcash, verifying transactions requires some seriously experimental computation, mathematical proofs called zk-SNARKS that are so hot-off-the-presses that they’ve never been used anywhere else. In order to set up the zk-SNARKS in the Zcash protocol, a human being must create a pair of mathematically linked cryptographic keys. One of the keys is essential to ensuring the proper functioning of the currency, while the other one—and here’s the big risk—can be used to counterfeit new coins."
    • Watch this extorted money get lost in the expanse of the blockchain - Quartz - "The paradox of bitcoin is that it’s both public and anonymous. Every bitcoin transaction that has ever occurred is recorded on the blockchain, the digital ledger that organizes the currency, which can be viewed by anyone. Determining who owns the bitcoins behind those transactions, however, can be impossible if the owners are careful."

    ON THE WIRES

    • UnionPay promotes EMVCo to issue the EMVCo QR code specifications - "Promoted by UnionPay, EMVCo officially releases the EMVCo QR Code Specification for Payment Systems: Consumer-Presented Mode Version 1.0 on its website on July 15, 2017, providing one of the first globally interoperable technical solution for QR code payment. The issuing of this specification also marks a new breakthrough in UnionPay's promotion of the international application of China's payment standard."

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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. Take a discount for attending all three days. Here's our fall schedule:

  • Payments Boot Camp, October 3-4, 2017, San Jose, CA, Logistics
  • Payments Boot Camp, October 17-18, 2017, NYC, NY, Logistics
  • Payments Boot Camp, December 5-6, 2017, Palo Alto, CA, Logistics
  • Global Payments, October 5, 2017, San Jose, CA, Logistics
  • Digital Payments, October 19, 2017, NYC, NY, Logistics
  • Innovation in Payments, December 7, 2017, Palo Alto, CA, Logistics
  • For more, click 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!

    July 14, 2017

    Headline News from PaymentsNews.com - July 14, 2017

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

    ON THE WEB

    • EPC gears up for pan-European instant payments - Finextra - "A new voluntary pan-European instant credit transfer scheme that will bring real-time money transfers across the Single Euro Payments Area (Sepa) is on course to go live in November, with five countries onboard from the off. The European Payments Council is introducing the Sepa Instant Credit Transfer (SCT Inst) scheme in response to concerns that the emergence of new domestic platforms, such as the UK's Faster Payments, might end up creating a fragmented market in Europe, similar to what existed in regular payments in the past."
    • Global Card Payments Volume Could Exceed $450B In 2017 - Retail Touch Points (Infographic) - "Digital payments will take a great leap forward in 2017, with global non-cash transaction volumes predicted to grow between 10% and 15%, potentially surpassing $450 billion."
    • Shopify Merchants Will Soon Be Able to Sell Through EBay - Bloomberg - "The Ottawa-based company’s strategy has been to integrate with as many online channels as possible, letting its customers diversify away from their personal websites and sell on Twitter, Pinterest, Facebook, Buzzfeed, and Amazon. Shopify also provides payment tools, shipping and small loans to help its users build their businesses."
    • Contactless travel card offers automatic repayments for delayed trains - NFC World - "The Auto Delay Repay service is currently available for season ticket holders using a contactless Key Smartcard to travel on Thameslink and Great Northern trains operated by the UK’s Govia Thameslink Railway (GTR) and will be expanded “in the coming weeks” to Southern and Gatwick Express services as well."
    • Thieves Used Infrared to Pull Data from ATM ‘Insert Skimmers’ - Krebs on Security - "A greater number of ATM skimming incidents now involve so-called “insert skimmers,” wafer-thin fraud devices made to fit snugly and invisibly inside a cash machine’s card acceptance slot. New evidence suggests that at least some of these insert skimmers — which record card data and store it on a tiny embedded flash drive — are equipped with technology allowing them to transmit stolen card data wirelessly via infrared, the same communications technology that powers a TV remote control."
    • Mobile Payments in China are Working everywhere (Video) - Dekho World - "Cash is going out of fashion in China. "
    • Germany makes arrests over theft of giant solid-gold coin - BBC - "Police have raided homes and made arrests in Berlin over an audacious night-time heist which saw a huge solid-gold coin stolen from a museum."
    • Man trapped inside Texas ATM for 3 hours is rescued by police - Boston Globe - "Just after 2 p.m. Wednesday, a person in Corpus Christi, Texas, had just completed a transaction at a Bank of America ATM when a surprise slid through the receipt slot. “Please help,” read a handwritten note on a thin strip of paper. “I’m stuck in here, and I don’t have my phone.”"

    ON THE WIRES

    • Visa and YellowPepper Partner to Accelerate New Payment Solutions in Latin America and the Caribbean - "Visa Inc. (NYSE:V) today announced a partnership agreement with YellowPepper, a mobile payments pioneer in Latin America, to help accelerate the adoption of new payment solutions in Latin America and the Caribbean (LAC). As part of the partnership, the first of its kind in the region, YellowPepper will help Visa issuers, acquirers and merchants to implement solutions to deliver new payment customer experiences. Specifically, YellowPepper will aid with the implementation of particular solutions, including project management services, UX design and services for the development and delivery of mobile applications."
    • Vantiv Announces eCommerce Payments and Security Extensions for Magento Platforms - "Vantiv, Inc. (NYSE: VNTV), a leading provider of payment processing services and technology for merchants and financial institutions of all sizes, today announced it is developing comprehensive eCommerce payments and security extensions for the Magento 1 and Magento 2 platforms from Magento Commerce, the worldwide leader in cloud digital commerce innovation."

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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. Take a discount for attending all three days. Here's our fall schedule:

  • Payments Boot Camp, October 3-4, 2017, San Jose, CA, Logistics
  • Payments Boot Camp, October 17-18, 2017, NYC, NY, Logistics
  • Payments Boot Camp, December 5-6, 2017, Palo Alto, CA, Logistics
  • Global Payments, October 5, 2017, San Jose, CA, Logistics
  • Digital Payments, October 19, 2017, NYC, NY, Logistics
  • Innovation in Payments, December 7, 2017, Palo Alto, CA, Logistics
  • For more, click 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!

    July 13, 2017

    Headline News from PaymentsNews.com - July 13, 2017

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

    ON THE WEB

    • As Apple Warms to PayPal, Investors Cheer - Barron’s Next - "More importantly, though, it signals that future partnerships with Apple could be on the way. The ultimate goal would be for PayPal to work with the iPhone’s NFC capabilities, so that users could use PayPal on their phones to pay for in-store items."
    • Google awaiting RBI nod to begin mobile payments service: NPCI - New Indian Express - "Google has completed the testing of its Unified Payments Interface (UPI) payment service and is awaiting Reserve Bank of India’s (RBI) approval to launch its service in the country, according to National Payments Corporation of India managing director and chief executive officer A P Hota."
    • Swiss private bank Falcon introduces bitcoin asset management - Reuters - " Wealthy clients of Swiss private bank Falcon will be able to store and trade bitcoins via their cash holdings with the bank from Wednesday, a move that signals the traction the virtual currency is gaining even in slow-changing asset management."
    • Complexity, Glitches Hindering Digital Strategies: Survey - Wall Street Journal CIO Journal - "Cloud computing, artificial intelligence and other digital tools have many corporate IT workers toiling for several hours a day with performance issues, negatively impacting innovation efforts as well as the bottom-line, a recent survey found."

    ON THE WIRES

    • American Express Introduces Enhanced Business Travel Account to Help Companies Manage the Reality of Business Travel - "Today, American Express (NYSE:AXP) announced the launch of its enhanced Business Travel Account (BTA), which gives companies greater control and more visibility into their business travel expenses. The addition of Virtual Account Numbers in the refreshed product centralizes more types of business travel spending into a single account. The virtual account feature works with the existing booking processes of Travel Management Companies through support from Conferma¹, a leading virtual service provider, and now allows for booking of hotels and low-cost airlines¹."
    • Elavon Introduces Innovative Billing Solution to Solve Confusion around Healthcare Bills - "Elavon, a leading global payments provider and subsidiary of U.S. Bancorp (NYSE:USB), is improving the healthcare bill payment process for hospitals, health systems, and patients alike with the launch of One Bill, a consumer-friendly, electronic billing solution available through Payment Navigator®, powered by InstaMed."
    • Cubic and Transport for London’s Payment Integration System Completes One Billionth Contactless Journey - "Cubic Transportation Systems (CTS), a business unit of Cubic Corporation (NYSE:CUB), today announced a successful milestone with partner Transport for London (TfL) of reaching one billion pay-as-you-go journeys using contactless bankcard and mobile payments across London’s transportation network. Launched in 2012, Cubic and TfL’s successful payment system, which continues to revolutionize mobility in London, is set to see the technology adapted and expanded to additional cities and transform their transportation networks in the future."

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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. Take a discount for attending all three days. Here's our fall schedule:

  • Payments Boot Camp, October 3-4, 2017, San Jose, CA, Logistics
  • Payments Boot Camp, October 17-18, 2017, NYC, NY, Logistics
  • Payments Boot Camp, December 5-6, 2017, Palo Alto, CA, Logistics
  • Global Payments, October 5, 2017, San Jose, CA, Logistics
  • Digital Payments, October 19, 2017, NYC, NY, Logistics
  • Innovation in Payments, December 7, 2017, Palo Alto, CA, Logistics
  • For more, click 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!

    July 11, 2017

    Headline News from PaymentsNews.com - July 11, 2017

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

    ON THE WEB

    • E-Commerce as a Jobs Engine? One Economist’s Unorthodox View - New York Times (Paywall) - "Mr. Mandel has combed through the job statistics on a county-by-county basis and come to this counterintuitive view: From December 2007 to May 2017, by his count, the e-commerce industry has created 397,000 jobs in the United States, and this compares with the loss of 76,000 jobs in the traditional retail industry. And those jobs related to e-commerce, he says, pay about 30 percent more than the brick-and-mortar ones."
    • CFPB announces rule that could help consumers sue financial firms for millions - MarketWatch - "The Consumer Financial Protection Bureau announced a final version of a rule Monday that would ban companies from using language in their contracts called “mandatory arbitration clauses” that prohibit consumers from bringing class-action suits against them. The rule would apply to institutions that sell financial products including bank accounts and credit cards."
    • UK Central Bank Tests Ripple’s Interledger Protocol for Cross-Border Payments - Coindesk - "The trial centered on a cross-border payment scenario in which "two different currencies" were "executed simultaneously in two different simulated RTGS [real-time gross settlement] systems," with blockchain potentially serving as means for synchronizing the settlement of transactions."
    • Eftpos Australia completes contactless debit card and mobile payments upgrade - NFC World - "Australia’s Eftpos debit card network has completed an infrastructure upgrade that will enable its partners to roll out new products and services including Eftpos Tap & Pay and Eftpos Mobile payments. The update also includes Australia’s first domestic token service provider (TSP), “complete and ready for commercial deployment.”"
    • BANKS DEPLOY AI TO CUT OFF TERRORISTS’ FUNDING - Wired - "Banks have long used anti-money laundering systems to flag suspicious activity, and in the aftermath of September 11th, they have turned to those same legacy tools to catch terror-related transactions, too. But these legacy tools are not up to the job. "
    • PayPal’s Ready on ‘One Touch’ Payment - Bloomberg (Audio) - "Bill Ready Chief Operating Officer PayPal Discussing mobile tools to level the playing field for traditional retailers in the fight for customers with ecommerce sites."
    • TWO-FACTOR AUTHENTICATION IS A MESS - The Verge - "We talk about two-factor like aspirin — a uniform, all-purpose fix that’s straightforward to apply — but the reality is far more complex. The general framework still offers meaningful protection, but it’s time to be honest about its limits. In 2017, just having two-factor is no longer enough."
    • I Got Hacked and All I Got Was This New SIM Card - carpeaqua - "I like to think I take an above average amount of steps to secure myself online: I use a password manager, unique passwords as complex as the site will allow, and turn on 2-factor authentication when possible. A true security expert will likely find some sort of flaw in my setup, but I'll argue that I am doing more than 95% of the planet. So how did I, someone who is reasonably secure, have his cell phone disabled, his PayPal account compromised, and a few hundred dollars withdrawn from his bank account?"
    • Self-Service Food Kiosk Vendor Avanti Hacked - Krebs on Security - "Avanti Markets, a company whose self-service payment kiosks sit beside shelves of snacks and drinks in thousands of corporate breakrooms across America, has suffered of breach of its internal networks in which hackers were able to push malicious software out to those payment devices, the company has acknowledged. The breach may have jeopardized customer credit card accounts as well as biometric data, Avanti warned.Self-Service Food Kiosk Vendor Avanti Hacked"

    ON THE WIRES

    • NXT-ID Subsidiary Fit Pay to Offer Consumers the Ease and Security of Prepaid, Tap-and-Go Payments with FitPay Prepaid MasterCard® - "Fit Pay, Inc., a wholly owned subsidiary of NXT-ID, Inc. (NASDAQ: NXTD) and a provider of payment, credential management, and authentication platform services today announced that it would offer prepaid capabilities on wearable devices connected to the Fit Pay Payment Platform. The general purpose reloadable (GPR) program, 'The FitPay Prepaid MasterCard®', will give consumers with Fit Pay's contactless payment-enabled devices the convenience of storing funds directly on their device. The new feature provides consumers with the ease and security of contactless payments."
    • FICO Extends Cybersecurity Score to Rate 4th Party Risks - "Silicon Valley analytics firm FICO today announced that its new release of the FICO® Enterprise Security Score quantifies the breach risks introduced by 4th parties — a partner or vendor's vendors. The identification of 4th party risks is an increasingly important consideration for breach insurance carriers, who are concerned about hidden, aggregate risk exposures across their portfolio of insureds."
    • Predictive Analytics Powers Basware's Ability To Forecast Late Payments - "Basware, the leading provider of e-invoicing and Source-to-Pay (S2P) solutions, today announced the availability of predictive analytics capabilities in its cloud-based Source-to-Pay solution. The release incorporates an intelligent algorithm to show which invoices are at risk of being paid late. This helps organizations prevent late payments, capture early payment discounts and optimize cashflow."

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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. Take a discount for attending all three days. Here's our fall schedule:

  • Payments Boot Camp, October 3-4, 2017, San Jose, CA, Logistics
  • Payments Boot Camp, October 17-18, 2017, NYC, NY, Logistics
  • Payments Boot Camp, December 5-6, 2017, Palo Alto, CA, Logistics
  • Global Payments, October 5, 2017, San Jose, CA, Logistics
  • Digital Payments, October 19, 2017, NYC, NY, Logistics
  • Innovation in Payments, December 7, 2017, Palo Alto, CA, Logistics
  • For more, click 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!

    July 10, 2017

    Headline News from PaymentsNews.com - July 10, 2017

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

    ON THE WEB

    • Finance Chiefs Want You to Use Plastic, Not Paper - Wall Street Journal (Paywall) - "Companies are giving more of their employees corporate credit cards as they seek easier expense tracking and savings from suppliers."
    • With Breaches, Companies Find They Have Met the Enemy, And He Is Us - Digital Transactions News - "Fearing retribution, employees hid security incidents in 40% of companies surveyed. The larger the business, the greater the risk staffers would remain mum. Among businesses with 49 or fewer employees, the incident rate was 29%. But in enterprises, defined as companies with more than 1,000 employees, it was 45%, It wasn’t much better, at 42%, among businesses with 50 to 999 employees."
    • Now pay taxes, apply for PAN via CBDT mobile app - LiveMint - "The app is in the series of actions taken by the Central Board of Direct Taxes (CBDT) to provide better taxpayer services and reduce grievances. The new initiative is a step by the I-T department to directly communicate with the taxpayers on a range of multiple informative and useful tax services aimed at providing tax information at their fingertips."
    • Ripple's XRP: Giving the Third-Largest Cryptocurrency a Second Look - Coindesk - "Among investors, Ripple is one the most divisive cryptocurrencies around – it's either loved or despised, both with equal passion. Even more than ethereum, I believe, it's misunderstood because it's so different from bitcoin. But, being number three in market cap (actually number two, but more on that later), I can't really avoid writing about it."
    • Dear Wirecutter: Are RFID-Blocking Wallets Necessary? - The WireCutter - "RFID is a real thing, and RFID-blocking wallets do block it—but the question is “does it matter”? We weren’t able to find any credible reports of actual, real-world RFID identity or credit card theft. It may be happening—it would be very hard to precisely identify if it were—but it’s certainly not widespread. It makes for a nifty demonstration by a hacker, but as Snopes notes, in 2010 the Identity Theft Resource Center had never seen a case—and it still doesn’t recommend RFID protection. Slate also notes that modern RFID chips generate single-use codes, and if your card is used fraudulently, your bank should back you up."

    ON THE WIRES

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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. Take a discount for attending all three days. Here's our fall schedule:

  • Payments Boot Camp, October 3-4, 2017, San Jose, CA, Logistics
  • Payments Boot Camp, October 17-18, 2017, NYC, NY, Logistics
  • Payments Boot Camp, December 5-6, 2017, Palo Alto, CA, Logistics
  • Global Payments, October 5, 2017, San Jose, CA, Logistics
  • Digital Payments, October 19, 2017, NYC, NY, Logistics
  • Innovation in Payments, December 7, 2017, Palo Alto, CA, Logistics
  • For more, click 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!

    July 07, 2017

    Headline News from PaymentsNews.com - July 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

    • Nacha sets sights on standardised APIs - Finextra - "While the use of APIs by financial services firms has begun to pick up in Europe, adoption continues to be slow in the US. With a quarter of developers citing standardisation as the biggest challenge they want to see the API industry fix in the coming years, Nacha has created a dedicated working group, which had its first meeting in May."
    • New Fintech Technology So Far Has Failed To Crush Cash, International Survey Finds - Digital Transactions News - "Israelis are much more likely to use mobile-banking apps and mobile wallets than Americans, but at least Americans are less inclined to use cash than Germans, according to a recent international survey of consumer usage of financial technology. "
    • Bank Behind Gap and JC Penney Store Cards Looks Beyond Retail - Business of Fashion - "The largest issuer of private-label credit cards in the US saw its shares drop to their lowest in about seven months on May 11, the day of Macy’s disappointing first-quarter earnings. There’s just one problem: “Macy’s announced and we went down, and we don’t even have Macy’s,” Synchrony’s chief executive officer Margaret Keane said in an interview at Bloomberg headquarters in New York. “We do have to think about more diversification.”"
    • 22 global banks join Swift blockchain project - Payment Cards & Mobile - "Swift says that is has signed an additional 22 banks to its blockchain proof of concept (PoC). The project is designed to determine if blockchain technology can help banks reconcile their international nostro accounts in real time and is part of Swift’s Global Payments Innovation (GPI)."
    • Sweden's iZettle 2016 loss narrows as it prepares for listing - Reuters - "Mobile payment solutions firm iZettle's said on Thursday its loss narrowed last year while revenue grew sharply as the company prepares for a potential listing. One of Europe's fastest growing tech start-ups, iZettle reported a 60 percent rise in revenue and said it expected to continue to improve profitability in 2017."
    • Mobike partners with MasterCard to support digital payment drive in Singapore - Cards International - "As part of collaboration, Mobike will integrate MasterCard digital payment solution Masterpass into its mobile application that will allow riders to make quick and secure in-app payments. Additionally, the partnership will bring real insights into the way urban residents travel, and enable local city planners to examine Singapore’s transportation systems and how they can be made smarter and more flexible."
    • Forget an IPO, Coin Offerings Are New Road to Startup Riches - Wall Street Journal (Paywall) - "Two obscure companies with no sales raised nearly $400 million combined in recent days from outside investors. How did they do it? Via a new, unregulated fundraising method that has no connection to Wall Street and is based in the world of cryptocurrencies."
    • B&B Theatres Hit in 2-Year Credit Card Breach - Krebs on Security - "B&B Theatres, a company that owns and operates the 7th-largest theater chain in America, says it is investigating a breach of its credit card systems. The acknowledgment comes just days after KrebsOnSecurity reached out to the company for comment on reports from financial industry sources who said they suspected the cinema chain has been leaking customer credit card data to cyber thieves for the past two years."

    ON THE WIRES

    • Citi Pay Launches in the U.S. - "Citi Mastercard credit customers in the U.S. can begin using Citi Pay, a digital wallet that offers seamless payments across channels with card number protection through tokenization. Simply using their existing Citibank online user ID and password, customers will be able to make online and in-app purchases."
    • Cubic and Transport for New South Wales Launch First Trial of Open Payment Technology in Australia - "Cubic Transportation Systems (CTS), a business unit of Cubic Corporation (NYSE:CUB), today announced its participation in the first transport open payment trial in Australia with its customer Transport for New South Wales (TfNSW), similar to the technology in London where the contactless “pay as you go” bank card has logged more than one billion journeys to date. Details of the trial were announced today by New South Wales Minister for Transport and Infrastructure Andrew Constance. The trial on the popular Manly Ferry service leverages the technology behind the Opal smart card ticketing system, installed and operated by Cubic."
    • Hard Rock Hotels & Casinos Notifies Guests of Third-Party Vendor Security Incident - "Hard Rock Hotels & Casinos values the relationships with its guests and understands the importance of data safety. The brand was recently notified of a security incident through third-party hotel reservation system – The Sabre Hospitality Solutions SynXis. Following an examination of evidence, Sabre alerted Hard Rock Hotels & Casinos on June 6, 2017 that an unauthorized party gained access to account credentials that permitted unauthorized access to unencrypted payment card information, as well as certain reservation information, for a subset of hotel reservations processed through the reservation system. The investigation determined that the unauthorized party first obtained access to payment card and other reservation information on August 10, 2016. The last access to payment card information was on March 9, 2017. To support its investigation, Sabre engaged a leading cybersecurity firm, Mandiant, and notified law enforcement and the payment card brands about this incident."

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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. Take a discount for attending all three days. Here's our fall schedule:

  • Payments Boot Camp, October 3-4, 2017, San Jose, CA, Logistics
  • Payments Boot Camp, October 17-18, 2017, NYC, NY, Logistics
  • Payments Boot Camp, December 5-6, 2017, Palo Alto, CA, Logistics
  • Global Payments, October 5, 2017, San Jose, CA, Logistics
  • Digital Payments, October 19, 2017, NYC, NY, Logistics
  • Innovation in Payments, December 7, 2017, Palo Alto, CA, Logistics
  • For more, click 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!

    July 06, 2017

    Headline News from PaymentsNews.com - July 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

    • JPMorgan Tips Hand on Payments Hopes Despite Bailing on Worldpay - Bloomberg - "JPMorgan Chase & Co. signaled its aspirations in the payments-processing industry with its willingness to consider a bid for Worldpay Group Plc, the London-based company being acquired by Vantiv Inc. for $9.9 billion. JPMorgan’s merchant-acquiring unit, which handles card transactions for businesses, has vaulted to the world’s biggest by volume, fueled by the growth of e-commerce. The lender, which had considered making a bid for Worldpay, walked away Wednesday after Vantiv’s offer became public."
    • A Price for Worldpay That Will Be Hard to Process - New York Times DealBook (Paywall) - "A day after Worldpay, Britain’s biggest payment processor, said it had been approached by both Vantiv and JPMorgan Chase, the company agreed in principle to Vantiv’s offer of nearly $10 billion in a mix of cash and shares. That took the shine off the share price of both the buyer and its target, perhaps because the deal makes sense only with some very charitable assumptions."
    • Currency demonetisation spikes up digital payments in India - Electronic Payments International - "In the fiscal year 2016-17 during which the Indian government demonetised high value currency, digital transaction grew by a whopping 55% in volume and 24.2% by value over the previous year, according to government think-tank Niti Aayog."
    • Gemalto’s Assurance Hub delivers adaptive authentication for online banking - SecureID News - "The Gemalto Assurance Hub analyses the profile and the behavior of online banking customers in real time delivering adaptive authentication for online banking. The system activates additional authentication measures only when a user’s session seems questionable but it streamlines the customer experience when things are normal."
    • More than 30m journeys made using NFC mobile phones across London in the last 12 months - NFC World - "More than 31m journeys have been made using NFC mobile phones across Transport for London’s (TfL) network in the last 12 months, the transport operator has revealed. 40% of all pay as you go journeys across the network are now being made using contactless — up from 25% in early 2016 — with almost one in ten of these being made using a mobile device."
    • Walmart is building giant towers to solve the most annoying thing about online ordering - Yahoo Finance - "Walmart is building giant self-service kiosks in its stores that retrieve customers' online orders."
    • Omise acquires online payment business Paysbuy from Thai operator Dtac - TechCrunch - "The deal will see Omise take over Paybuy’s assets and services, which include a payment gateway and digital wallet used by both consumers and businesses in Thailand and Myanmar. Omise is based in Thailand, and it has raised over $20 million from traditional VCs. Its service also operates in Indonesia and Japan with plans to expand in Asia, while it is hatching grand plans for a decentralized payment network called Omise Go."
    • Walgreens Works To Make Mobile App Friction-Free For Shoppers 55 And Up - Retail Touch Points - "Walgreens has managed to leverage its mobile app to encourage usagefrom a generation that is elusive for many retailers: the 55-and-up crowd. More than 20% of the pharmacy’s app users are age 55 and older, more than twice the industry average.Just 9% of all smartphone owners who use shopping apps at least weekly are in that age range, according to a 2017 survey by Forrester Research."

    ON THE WIRES

    • OPEN BANKING LAUNCHES ACCOUNT INFORMATION AND PAYMENT INITIATION API SPECIFICATIONS - "Open Banking, the implementation entity set up by the Competition & Markets Authority (CMA) to enable a new, secure way for customers to take control of their financial data and share it with organisations other than their banks, is pleased to announce the release of its Accounts and Transaction Information and Payments Initiation API Specifications."
    • UnionPay launches innovative products overseas and accelerates the rollout of its QR code payment - "UnionPay International is now accelerating the promotion of its innovative products and services globally. Southeast and Northeast Asia are the key target markets. According to the latest data, the cross-border transaction volume of mobile QuickPass, the UnionPay mobile payment product, doubled in the first half of this year. More notably, more overseas customers are using mobile QuickPass. "
    • Visa Checkout flies to new heights with Air Canada - "With more than 22 million enrolled accounts worldwide, Visa Checkout enables millions of consumers to pay in just a few clicks, and only have to fill out payment and shipping information once. Visa Checkout is currently available on aircanada.com for desktop and mobile web formats and will be available on Air Canada's mobile app next year. Air Canada and Air Canada Vacations customers now have a simpler way to pay for tickets, seat upgrades or bag check fees online with Visa Checkout."

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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. Take a discount for attending all three days. Here's our fall schedule:

  • Payments Boot Camp, October 3-4, 2017, San Jose, CA, Logistics
  • Payments Boot Camp, October 17-18, 2017, NYC, NY, Logistics
  • Payments Boot Camp, December 5-6, 2017, Palo Alto, CA, Logistics
  • Global Payments, October 5, 2017, San Jose, CA, Logistics
  • Digital Payments, October 19, 2017, NYC, NY, Logistics
  • Innovation in Payments, December 7, 2017, Palo Alto, CA, Logistics
  • For more, click 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!

    July 05, 2017

    Headline News from PaymentsNews.com - July 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

    • Vantiv Offers Worldpay a Deal Valued at $10 Billion - New York Times DealBook - "Worldpay Group, the British payment processing company, said on Wednesday that it had agreed in principle to be acquired by Vantiv, an American rival, for 7.7 billion pounds. The transaction, valued at about $10 billion, is one of the most significant in the field since the financial crisis. Payment processing has become increasingly important for financial institutions as more people shop online and move money using cellphones or other digital devices."
    • This tiny Florida bank says APIs could make it a national player - American Banker - "By embracing APIs, Surety will not be beholden to any one vendor and can partner with fintechs and other third-party providers in a quick and efficient manner."
    • Ticketmaster will soon admit you to events using audio data transmitted from your phone - Venture Beat - "The ticketing giant has teamed up with Lisnr, a data-over-audio company that uses an ultrasonic sound technology it calls “smart tones” to transmit information between devices. There are myriad use-cases for Lisnr’s technology — for example, it recently partnered with Jaguar Land Rover to enable vehicles to communicate with mobile devices, other cars, and potentially the broader environment, where smart tone technology is enabled. This could be used to replace a key fob with a smartphone to unlock the door or to personalize seat settings, including placement and climate control."
    • Tesco brings mobile and contactless rewards to millions of UK supermarket shoppers - NFC World - "UK-based supermarket giant Tesco has launched a contactless version of its Clubcard reward scheme that lets customers “simply tap at the checkout to add their points”. The retailer has also updated its Tesco Clubcard app to let customers use their smartphones to access their vouchers at the point of sale “at the touch of a button”."
    • EMVCo-specified universal QR Code to be introduced in 4Q17 - Digitimes - "EMVCo is specifying a universal QR Code to facilitate tokenized mobile payments, and the global standard QR Code is expected to be introduced to the Taiwan market in the fourth quarter of 2017, with prevailing use to kick off by the end of 2018 at the earliest, according to VISA Taiwan country manager Macro Ma."
    • WeChat Pay Launches Overseas Open Platform - Marbridge Daily - "Overseas merchants and service providers will be able to submit application materials online, receive a confirmation e-mail, and sign a service contract online to begin using WeChat Pay. Applicants can also use the open platform to look up authorized overseas institutions and service providers that have partnered with WeChat Pay."
    • LG's mobile chief confident of payment tool - Yonhap News Agency - "LG Electronics said 38.4 percent of the tool's users were in their 30s as of end-June, while the number of those in their 50s and 60s was quickly increasing. To increase the number of users, LG plans to update LG Pay to be used for online payments as well."
    • A biometric ring could replace your passwords, cards and keys - endgadget - "The way Token works is simple: With a fingerprint sensor on the inside, it can confirm that you're the authorized user. Then, you slide on the ring, and an onboard IR optical sensor makes sure the device is still on your finger. As long as you have not taken it off, you can authorize transactions with a tap of your hand. Once removed, you'll have to place your finger on the sensor again before the Token can be used for access. You can add credit cards, login passwords and set up other profiles via a companion app, and afterwards, you won't have to choose which transaction to authorize. The signal that is continuously broadcast (when you're wearing the ring) can be interpreted by a variety of readers. Only one fingerprint can be assigned to each Token, as the company wants to prevent multiple users sharing such a personal product."
    • Fourth largest Bitcoin exchange. Bithumb, hacked for billions of Won - Brave New Coin - "The largest bitcoin and ether exchange in South Korea by volume, Bithumb, was recently hacked. Monetary losses from compromised accounts have started to surface, and are quickly reaching into the billions of won. With a reported 75.7% share of the South Korean bitcoin market volume, Bithumb is one of the five largest bitcoin exchanges in the world and hosts over 13,000 bitcoins worth of trading volume daily, or roughly 10 percent of the global bitcoin trade. "

    ON THE WIRES

    • Vantiv, Inc and Worldpay Group plc agree to key terms of possible offer - "Following the Possible Offer Announcement dated 4 July 2017 ("Possible Offer Announcement"), the boards of directors (the "Boards") of Worldpay Group plc ("Worldpay") and Vantiv, Inc. ("Vantiv") are pleased to announce that they have reached an agreement in principle on the key terms of a potential merger of Worldpay and Vantiv (the "Potential Merger" to form the "Combined Group”)."
    • CM Acquires Payment Institution Docdata Payments from Ingram Micro - "Netherlands-based mobile service provider acquires payment institution Docdata Payments from its American owner Ingram Micro. This was agreed this Monday by both parties. Docdata Payments (www.docdatapayments.com) processes payments for European companies, mainly in the Netherlands, Luxembourg and Belgium. The 35 employees will be transferred to CM (cm.com)."
    • Cross-border digital payments company InstaReM receives US$13M investment - "InstaReM, one of the leading digital cross-border payments companies, has received a US$13 million investment led by GSR Ventures, with participation from SBI-FMO Emerging Asia Financial Sector Fund (SBI-FMO Fund), Vertex Ventures, Fullerton Financial Holdings (FFH), and Global Founders Capital (GFC). To date, InstaReM has raised over US$18 million in the last 18 months."

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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. Take a discount for attending all three days. Here's our fall schedule:

  • Payments Boot Camp, October 3-4, 2017, San Jose, CA, Logistics
  • Payments Boot Camp, October 17-18, 2017, NYC, NY, Logistics
  • Payments Boot Camp, December 5-6, 2017, Palo Alto, CA, Logistics
  • Global Payments, October 5, 2017, San Jose, CA, Logistics
  • Digital Payments, October 19, 2017, NYC, NY, Logistics
  • Innovation in Payments, December 7, 2017, Palo Alto, CA, Logistics
  • For more, click 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!

    July 03, 2017

    Headline News from PaymentsNews.com - July 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

    • Interswitch And Visa To Drive Digital Payments Across Africa - Payments Afrika - "Visa Inc., the global leader in payments, and Interswitch, Africa’s leading integrated payments and transaction solutions company, have announced that they will partner to accelerate mobile payments adoption across the region. The partnership will see Visa and Interswitch upgrade the digital banking applications of leading banks to include mVisa, as well as enable more merchants to accept mVisa payments."
    • ​Qualcomm and Vivo show off under-display fingerprint tech - ZDNet - "Qualcomm has unveiled its newest ultrasonic fingerprint solution that can be placed under the display of a prototype phone made by Vivo. At Mobile World Congress Shanghai, the US chip giant said the new solution, Qualcomm Fingerprint Sensors, can be integrated underneath OLED displays and dunked in water. It also said the function works under metal and glass. During the event, Chinese phone maker Vivo showed off a prototype smartphone that had the technology in place."
    • Payments Company Nets Surges After Confirming Takeover Approach - Bloomberg - "Nets A/S, a payment services provider, surged after the company confirmed it has drawn interest from potential buyers and is reviewing its options, sending shares up the most since its initial public offering last year. Shares in the Nordic company rose as much as 13.8 percent on Monday, its steepest increase since September. The stock had gained 10.8 percent at 10:39 a.m. in Copenhagen trading, valuing the firm at about $4.4 billion."
    • Bitcoin Payroll Startup Bitwage Launches UK Services - Coindesk - "Through their platform, which launched in 2014, workers in the UK can accept their wages through settlement options like BACS, CHAPS, Faster Payments or SWIFT into their local British pound-denominated bank accounts. Local users "now have the option for a direct deposit into any wallet of their choice", the startup added."

    ON THE WIRES

    • GlobalPlatform Simplifies Management of Privacy-Enhanced Identity Documents - "The GlobalPlatform Privacy Framework gives implementers the tools and knowledge of ‘how’ regulatory privacy guidelines can be applied using GlobalPlatform’s Card Specifications. It integrates a range of protocols that can be combined, or applied individually. This enables ID providers to answer the new regional demand to enhance the privacy of digital identity services on ID document while supporting current applications to aid the migration."
    • Bankrate to Be Acquired by Red Ventures for $14.00 per Share - "Bankrate (NYSE: RATE), a leading online publisher, aggregator, and distributor of personal finance content, today announced that it has entered into a definitive agreement to be acquired by Red Ventures, a leading digital consumer choice platform, in an all-cash transaction that values Bankrate at an enterprise value of approximately $1.4 billion."

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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. Take a discount for attending all three days. Here's our fall schedule:

  • Payments Boot Camp, October 3-4, 2017, San Jose, CA, Logistics
  • Payments Boot Camp, October 17-18, 2017, NYC, NY, Logistics
  • Payments Boot Camp, December 5-6, 2017, Palo Alto, CA, Logistics
  • Global Payments, October 5, 2017, San Jose, CA, Logistics
  • Digital Payments, October 19, 2017, NYC, NY, Logistics
  • Innovation in Payments, December 7, 2017, Palo Alto, CA, Logistics
  • For more, click 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!

    June 30, 2017

    Headline News from PaymentsNews.com - June 30, 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

    • Macau's ATMs Are Using Facial Recognition to Help Follow the Money - Bloomberg - "Chinese bettors withdrawing money from some ATMs in Macau need to do more than punch in their PIN code. They also have to stare into a camera for six seconds so facial-recognition software can verify their identity and help monitor transactions."
    • Capital One, Groupe Arnault back e-commerce fraud preventer Riskified - Reuters - "Riskified, whose clients include U.S. retailers Macy's and Foot Locker Inc, said it would use the funds to expand globally and accelerate sales of its software, which helps merchants spot online payment fraud and reduce false alarms that cause genuine buyers to be turned down. In 2016, every dollar of fraud cost merchants $2.40, up from $2.23 a year ago, according to a report from LexisNexis. Fraud as a percentage of revenues grew to 1.47 percent from 1.32 percent over the year. "
    • FIS Expands Cardless Cash to Thousands of U.S. Cardtronics ATMs - Digital Transactions News - "Cardless cash access at ATMs is expanding. ATM operator Cardtronics plc, which owns or operates more than 233,000 ATMs globally, is adding FIS Cardless Cash access to its U.S. machines, Fidelity National Information Services Inc. (FIS) announced Thursday."
    • Swift Completes Blockchain Smart Contracts Trial - Coindesk - "Interbank messaging platform Swift has completed a blockchain proof-of-concept in partnership with startup SmartContract. The proof-of-concept, revealed today, is the first project to use SmartContract’s ChainLink v1.0, which lets users connect smart contracts to data feeds, web APIs and a number of payment methods."
    • Beijing subway wants more commuters to go cardless - Today Online - "Despite an average daily ridership of 12.69 million commuters, only a million have used their smartphones to pay since mobile payments were introduced in all the city’s subway stations in 2013. One reason for the feature’s low popularity is that it requires mobiles to have a special SIM card with embedded NFC (near-field communication) technology. However in the last year, more manufacturers have been adding an NFC component to their handsets, meaning users need only download an app to pay fares, recharge online and conduct real-time transfers."

    ON THE WIRES

    • Ripple’s Blockchain Solution Powers Instant Remittances from SBI Remit to Siam Commercial Bank - "Siam Commercial Bank (SCB), in collaboration with Japan’s SBI Remit, is using Ripple’s blockchain enterprise solution to power real-time remittance payments between Japan and Thailand. A first for the corridor, Ripple’s cross-border payments network solution is helping remittances from Japan reach SCB retail customers easily and faster than ever before."
    • Warply Launches the Innovative Keyboard Payments Solution - "Warply - one of the top European companies in Mobile Loyalty & Payments - launched the new Warply Keyboard Payments for mobile payments and P2P transactions via messaging apps. The new innovative solution is available exclusively for mobile banking apps, globally. Warply Keyboard Payments is a unique solution, due to the fast integration process with any banking app - since it uses banks' existing infrastructure - and the easy customization in look and feel."
    • SAFARICOM TO UPGRADE M-PESA TO NEW PLATFORM - "The new M-PESA platform paves the way for Safaricom to rollout more features and enhancements on the service to the more than 26 million M-PESA customers. Among the new features that customers can look forward to include M-Shwari and KCB M-PESA implementation in the Safaricom App. "
    • BBVA brings Alipay to Spain - "BBVA signs an agreement that allows Chinese tourists to pay in Spanish stores using Alipay mobile wallet, the largest online and mobile payment platform in the world operated by Ant Financial Services."
    • Youtap Packages X8 POS Device as Complete Solution for Mobile Money Payment Processing in Africa and Asia - "Youtap's new NFC X8 is a small, low-cost point-of-sale device that can fit easily in a merchant's pocket or be worn around the neck. The X8 can process all mobile money transactions, including cash-in and cash-out transactions, airtime top-ups, bill payments and in-store payments."

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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. Take a discount for attending all three days. Here's our fall schedule:

  • Payments Boot Camp, October 3-4, 2017, San Jose, CA, Logistics
  • Payments Boot Camp, October 17-18, 2017, NYC, NY, Logistics
  • Payments Boot Camp, December 5-6, 2017, Palo Alto, CA, Logistics
  • Global Payments, October 5, 2017, San Jose, CA, Logistics
  • Digital Payments, October 19, 2017, NYC, NY, Logistics
  • Innovation in Payments, December 7, 2017, Palo Alto, CA, Logistics
  • For more, click 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!

    June 29, 2017

    Headline News from PaymentsNews.com - June 29, 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

    • Jack Dorsey’s Square Inc. May Soon Loan You Money - Wall Street Journal (Paywall) - "This week, the San Francisco-based firm run by Twitter Inc. co-founder Jack Dorsey started telling some of its small-business clients that it would soon be willing to provide credit to their customers."
    • LendUp gets strategic investment from PayPal and adds to its executive team - TechCrunch - "LendUp has built business providing personal loans to customers that traditional financial institutions wouldn’t touch. As it looks to expand into credit cards and other services, the company has raised some strategic funding from PayPal and also has expanded its executive ranks."
    • MONEY2020 EUROPE - DAY 1 - Vocalink - "Fintech startups are an important part of Money 2020 and this year organisers have said they are putting startups at “the heart of the event”. However, it is equally evident as you walk in to the main foyer, the imposing presence of major international payment brands."
    • MONEY2020 EUROPE - DAY 2 - Vocalink - "In short, the world is no longer about banks versus fintech, but one of “fintegration” (i.e. the integration of fintech within the bank's business models and services). The bank of the future will combine its existing inherent banking skills, the trust is has built with the consumer, and product knowledge, alongside some of the new skills brought about by completely new technology companies. These companies will sometimes be front end towards the customers, and sometimes suppliers to the banks."
    • Bitcoin Scaling Project Segwit2x to Release New Code Tomorrow - Coindesk - "The release is expected to mark a new phase for the proposal, which has been praised by some as a pragmatic solution to the network's perceived capacity issues and derided by others as a deal that misunderstands the nature of bitcoin development and the network's intended design. Still, it has emerged as unique, given that it was able to bring together perhaps the largest contingent of companies and mining pools ever in support of a scaling proposal. Further, its support by a large majority of miners means, if released, the code could quickly gain the necessary backing from the network to activate the upgrade."
    • I’m sick of fintech taking credit union business - CUInsight - "Fintech startup founders think and approach consumer lending through customer needs and expectations. As they say, it’s all about the customer. Why can’t the customer design the lending product that suits their needs? Credit unions are too focused on the tactical aspects of their business model, such as better loans, fees, and branch locations. This is why crowdfunding and even payday lending became so popular. It is easier to start a Kickstarter campaign and receive necessary product funding than to go to a credit union branch and ask for a loan!"
    • The World’s Two Biggest Digital Currencies Wrestle With Volatility, Capacity Issues - Digital Transactions News - "The two biggest cryptocurrencies are experiencing growing pains that could change their character and decide their fundamental purpose in the years to come. Bitcoin, the largest digital currency at a market capitalization of $42.6 billion as of Wednesday mid-morning, remains a volatile investment at the same time its users contend with rising fees and its developers wrestle with a controversial plan to boost the capacity of its underlying blockchain."
    • The app economy will be worth $6 trillion in five years thanks to mobile commerce - recode - "In five years, the app economy will be worth $6.3 trillion, up from $1.3 trillion last year, according to a report released today by app measurement company App Annie. What explains the growth? More people are spending more time and — crucially — more money in apps."

    ON THE WIRES

    • ScanSource Announces Agreement to Acquire Payments Industry Leader, POS Portal - "ScanSource, Inc. (NASDAQ:SCSC), a leading global provider of technology products and solutions, today announced a definitive agreement to acquire POS Portal, a leading distributor of payment devices and services primarily to the SMB market segment. POS Portal brings 17 years of demonstrated success focused solely on the US payments industry channels."
    • Lost in Translation: Nearly One in Three Merchants Can't Identify International Transactions - "Kount Inc. today announced findings from the fifth annual 2017 Mobile Payments & Fraud Survey to understand and measure the state of mobile payments and mobile channel fraud. The report found that while merchants have made a lot of progress when it comes to mobile security, they have a long way to go in order to minimize fraud risk, with 28 percent of merchants still not able to identify whether a mobile transaction came from abroad."
    • CanPay Extends Debit Payment Solution To 7 Retail And Medical Dispensaries in Oregon - "Patients and consumers can download the CanPay app by visiting CanPayApp.com to set up their account, which links directly with their existing checking account. Each time the user signs into CanPay on their mobile device, a secure, single-use payment PIN is generated that includes no personal identifiable information and is scanned at the time of purchase by the dispensary's point of sale device. Funds are electronically transferred funds directly from the user's checking account to the retailer's bank account."
    • TouchBistro Launches Integration with Square in the UK - "TouchBistro today announced that it has extended its integration with Square to restaurants in the UK. Restaurants of all sizes in the UK using the TouchBistro iPad mobile point-of-sale (mPOS) solution will now be able to process payments seamlessly using Square. The TouchBistro iPad mPOS is designed specifically to help restaurants increase their sales, improve the customer experience, and make informed decisions to profitably grow their business. By simplifying tasks and reducing serving time, TouchBistro has proven to markedly increase table turns and sales."
    • NXT-ID Subsidiary Fit Pay to Power Payments on Token - "Fit Pay, Inc., a wholly owned subsidiary of NXT-ID, Inc. (NASDAQ: NXTD) and a provider of payment, credential management, and authentication platform services, today announced that is providing payment capabilities for, Token, a biometric identity ring that streamlines the process of authentication throughout your day. Token is available for presale now at www.tokenize.com beginning at $249, and will begin shipping to users in December 2017."

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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. Take a discount for attending all three days. Here's our fall schedule:

  • Payments Boot Camp, October 3-4, 2017, San Jose, CA, Logistics
  • Payments Boot Camp, October 17-18, 2017, NYC, NY, Logistics
  • Payments Boot Camp, December 5-6, 2017, Palo Alto, CA, Logistics
  • Global Payments, October 5, 2017, San Jose, CA, Logistics
  • Digital Payments, October 19, 2017, NYC, NY, Logistics
  • Innovation in Payments, December 7, 2017, Palo Alto, CA, Logistics
  • For more, click 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!

    June 28, 2017

    Headline News from PaymentsNews.com - June 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

    • There’s a war brewing in Japan, and the banks should pay attention - TechCrunch Network - "Now there is a similar war brewing in Japan. This time it is for mobile P2P payments. A few players are vying to become the Japanese equivalent of Venmo, a company founded eight years ago in the United States and now owned by PayPal. The local equivalents are Anypay, Kyash, LINE Pay and, to a certain extent, Yoropay. "
    • Singapore to Let Banks Invest in E-Commerce, Other Business - Bloomberg - "Singapore regulators have proposed rules that will make it easier for banks to conduct or invest in non-financial businesses such as e-commerce and digital-payment platforms, helping them to better compete with non-bank firms in these areas, Finance Minister Heng Swee Keat said Tuesday."
    • Singapore banks to allow cellphone numbers for transfers - Nikkei Asian Review - "The PayNow peer-to-peer fund transfer service, announced Tuesday, goes live July 10. It will serve customers of top three Singaporean banks DBS Group Holdings, Oversea-Chinese Banking Corp. and United Overseas Bank, as well as Citibank, HSBC, Malayan Banking and Standard Chartered Bank. Customers will be able to send money instantly by supplying recipients' mobile numbers linked to their bank accounts. National ID numbers can be used instead. The service will be free, including transactions between two different banks."
    • Blackbaud acquires U.K.-based fundraising platform JustGiving for $120 million - Venture Beat - "Founded out of London in 2000, JustGiving is perhaps better known in its home country and is the default fundraising platform for thousands of charities and individuals. The platform launched in the U.S. in 2003, later changing its name there to FirstGiving, and is now available to fundraisers in 164 countries where it says it has helped raise more than $4.5 billion for good causes since its inception. The company expanded into crowdfunding back in 2013."
    • Online Merchants Make Use of More Fraud-Detection Tools, Except 3-D Secure - Digital Transactions News - "With concerns about card-not-present fraud rising, e-commerce merchants have increased their usage of 19 of 21 fraud-detection tools since 2010, some by more than 30 percentage points, according to a recent report from the Federal Reserve Bank of Kansas City."
    • China, India Lead the Way When It Comes to Using Fintech: Chart - Bloomberg - "Chinese and Indians are the biggest adopters of financial technology for services such as payments, transfers and borrowing money, according to a survey by consultancy EY. "
    • ‘Petya’ Ransomware Outbreak Goes Global - Krebs on Security - "Organizations and individuals who have not yet applied the Windows update for the Eternal Blue exploit should patch now. However, there are indications that Petya may have other tricks up its sleeve to spread inside of large networks."

    ON THE WIRES

    • Mastercard Launches Several New APIs for Developers - "The newest solutions available on Mastercard Developers range from helping businesses gain insights on their performance in the era of IoT to digitizing the ways in which their consumers shop and manage personal finances. Mastercard has also added to the New & Experimental API category within the Mastercard Developers platform, enabling partners to test the very latest in technologies and applications."
    • Bill.com Collaborates With Intuit to Introduce Digital Payments for Small Businesses - "Bill.com, the leading business payments company, has started to deliver on simplifying the ability to process electronic payments seamlessly within QuickBooks Online. With Bill Pay for QuickBooks Online integration, small businesses will be able to save more than 50 percent of their time spent paying bills, gain more cash flow control and easily access their go-to financial management tools in QuickBooks Online."
    • American Express advances mobile-first focus with Android Pay - "American Express today announces the availability of Android Pay, Google's mobile wallet, for Cardmembers in Canada."
    • JCB International Partners with Allied Wallet for Online and POS Merchant Acceptance - "JCB International Co., Ltd., the international operations subsidiary of JCB Co. Ltd, has signed an agreement with Allied Wallet Ltd, the award-winning globally leading payment services provider (PSP) of online payment processing, to facilitate JCB transactions in the Single Euro Payments Area (SEPA). Allied Wallet will extend its JCB functionality beyond e-commerce to bricks and mortar point-of-sale (POS) acceptance, allowing their retailers to attract JCB’s 106 million cardmembers worldwide to both their online and/or physical outlets respectively."

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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. Take a discount for attending all three days. Here's our fall schedule:

  • Payments Boot Camp, October 3-4, 2017, San Jose, CA, Logistics
  • Payments Boot Camp, October 17-18, 2017, NYC, NY, Logistics
  • Payments Boot Camp, December 5-6, 2017, Palo Alto, CA, Logistics
  • Global Payments, October 5, 2017, San Jose, CA, Logistics
  • Digital Payments, October 19, 2017, NYC, NY, Logistics
  • Innovation in Payments, December 7, 2017, Palo Alto, CA, Logistics
  • For more, click 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!

    June 27, 2017

    Headline News from PaymentsNews.com - June 27, 2017

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

    ON THE WEB

    • Visa Buys Stake in Swedish Financial Technology Company Klarna - Bloomberg - "Visa Inc. is buying a stake in Swedish payments technology firm Klarna AB and forming a strategic partnership, as both companies aim to expand outside their core markets. "
    • The 50th anniversary of the ATM – The truth about Cash - Payments Cards & Mobile - "The ATM has come a long way since the device originally invented by John Shepherd-Barron in 1967. In 1981 there were 22 ATMs in Germany and now, there are over 3 million ATMs across the world and banking customers can complete over 200 different kinds of transaction on the machines."
    • Square Boosts E-Commerce Offerings With Its New Square Checkout Service - Digital Transactions News - "Seeking to leverage its brand while boosting its presence among Web merchants, merchant acquirer Square Inc. last week introduced Square Checkout, a Square-hosted system that enables consumers to pay online while providing merchants with access to the company’s technical and business services."
    • Blockchain Payments Startup Veem Integrates with Intuit QuickBooks - Coindesk - "ntuit QuickBooks customers can now send international payments via blockchain payment provider Veem as an alternative to traditional wire transfers."
    • Monese, the mobile current account banking app, expands to Europe - TechCrunch - "You wait all day for a multi-currency account and three come along at once. Give or take a month or so, that’s appears to be the case with news that Monese, the London fintech that offers a mobile banking app and current account, is adding support for Euro accounts. It follows Revolut and Transferwise‘s recently launched multi-currency offerings, albeit they are targeting a different segment of the banking market."
    • How The High-Risk Processing Industry Can Combat The Costly Surge In Card Testing Fraud - PointofSale.com - "The first order problem for merchants is that unless they actively employ fraud prevention tools to combat card testing they leave themselves open to fraudsters making large purchases that customers will contest. But secondarily, if they are overly aggressive in their fraud prevention program high-risk merchants run the risk of rejecting transactions that are legitimate. "
    • Apple makes NFC tag reading available for beta testing - NFC World - "Members of the general public who sign up for the Apple Beta Software Program can now download a pre-release edition of iOS 11, the latest version of Apple’s operating system for iPhone and iPad which brings with it support for NFC tag reading. "
    • China’s All-Seeing Surveillance State Is Reading Its Citizens’ Faces - Wall Street Journal (Paywall) - "China Merchants Bank allows customers to scan their faces instead of using bank cards to withdraw money from about 1,000 ATMs. A mobile affiliate of Ping An Bank uses facial recognition to authenticate a borrower or investor’s identity over the internet."
    • New Cyberattack Spreads From Russia to the United States - New York Times (Paywall) - "Computer systems from Russia to the United States were victims of an international cyberattack on Tuesday in a hacking that bore similarities to a recent one that crippled tens of thousands of machines worldwide."

    ON THE WIRES

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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. Take a discount for attending all three days. Here's our fall schedule:

  • Payments Boot Camp, October 3-4, 2017, San Jose, CA, Event Logistics
  • Payments Boot Camp, October 17-18, 2017, NYC, NY, Event Logistics
  • Payments Boot Camp, December 5-6, 2017, Palo Alto, CA, Event Logistics
  • Global Payments, October 5, 2017, San Jose, CA, Event Logistics
  • Digital Payments, October 19, 2017, NYC, NY, Event Logistics
  • Innovation in Payments, December 7, 2017, Palo Alto, CA, Event Logistics
  • For more, click 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!

    June 26, 2017

    Headline News from PaymentsNews.com - June 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

    • Dutch payments processor takes pan-European licence to bypass banks - Reuters - "Adyen, one of Europe's biggest fintech companies, has taken a pan-European banking licence that allows it to bypass banks and process cross-border payments directly for its merchant customers, including many of the world's top ecommerce firms."
    • Banks Ready for Launch of European Anti-Money-Laundering Directive - Wall Street Journal - "New risk modeling, including requirements to produce evidence. An emphasis on enhanced due diligence to find beneficial owners. An expanded definition of who counts as a politically exposed person. Those rules and more came into force Monday with the European Union’s Fourth Anti-Money Laundering Directive."
    • Exclusive: Fake online stores reveal gamblers' shadow banking system - Reuters - "A network of dummy online stores offering household goods has been used as a front for internet gambling payments, a Reuters examination has found. The seven sites, operated out of Europe, purport to sell items including fabric, DVD cases, maps, gift wrap, mechanical tape, pin badges and flags. In fact, they are fake outlets, part of a multinational system to disguise payments for the $40 billion global online gambling industry, which is illegal in many countries and some U.S. states."
    • Mastercard Bringing Mobile P2P Payments to Merchants - Mobile ID World - "Mastercard is exploring the idea of essentially enabling P2P mobile payments between customers and shop owners. Mastercard Bringing Mobile P2P Payments to MerchantsIt’s an effort aimed at addressing a longstanding issue for smaller merchants – the lack of resources to accept card payments. Citing data from Worldpay and Expert Market, Mastercard points out in a statement that one in ten small and medium-sized businesses don’t accept such payments, and that one in four consumers in the UK avoid businesses that don’t take cards."
    • Single digital identity could erase pain of doing frequent online transactions - Financial Post - "Building a framework for it, though, is more of a cultural challenge than a technical one."
    • Samsung Pay now supports Discover cards - The Verge - "Discover card shoppers can finally use their credit card with Samsung Pay on their phones — two years after the credit card company announced that the card would come to the system. "
    • Venmo is testing its own physical debit card - recode - "Venmo has been testing its own version of a physical debit card that would allow people who use its app to make purchases in brick-and-mortar stores using money stored in their Venmo account, according to multiple sources."
    • Why Apple and J.P. Morgan Are Chasing Venmo - Wall Street Journal (Paywall) - "Venmo has become a verb among people who want to send money digitally to each other. What it hasn’t become is a huge moneymaker for parent PayPal Holdings Inc. Historically, that hasn’t been much of a concern for PayPal, although that is starting to change. Making money might matter even less to the big tech and finance firms like Apple Inc. and J.P. Morgan Chase JPM & Co., that are going after Venmo’s business."
    • Google is running a massive Android Pay promo in Australia with 200,000 prizes worth $1.6 million - Android Police - "Google never paid much attention to Google Wallet, but the change over to Android Pay came with some new marketing muscle. It's been almost a year since Android Pay landed in Australia, and now Google is rolling out a huge promotion to get more Aussies using it. The program starts today and runs through the end of 2017, but it's only open to new Android Pay users."
    • Gemalto Seeks to Patent Method for Secure Blockchain Identity - Coindesk - "Digital security vendor Gemalto is looking to stake its claim in the burgeoning blockchain identity sector. According to a patent application recently published by the US Patent and Trademark Office (USPTO), Gemalto is seeking to protect a method for securing a user's trusted identity by using paired public and private keys, and creating blockchain transactions to store, verify and retrieve identity information."
    • Yoyo Wallet raises £12M Series B led by Metro Group to expand in Europe - TechCrunch - "The race to digitise the loyalty card just got a shot in the arm with the news that Yoyo Wallet, the European-based mobile payment and customer loyalty platform, has raised a £12 million Series B round, led by the US wholesale and food retail giant Metro Group. The round is joined by the UK-based Woodford Investment Management and Touchstone Innovations. The deal is subject to FCA approval."
    • Digital wallet firm’s travails offer a lesson: Put customers before merchants - Boston Globe - "The merchants who formed MCX “had a world view that they were going to show up on the scene, and everyone would bow at their feet,” says Max Metral, a former PayPal executive and entrepreneur who built some of the earliest mobile wallet technology, in 2010. “But the world right now favors companies that don’t try to get everything right at the beginning, but have the ability to tack and move left and right, and eventually get things right. That’s what you’ve seen Apple doing with Apple Pay.”"
    • In 10 Years, Your iPhone Won’t Be a Phone Anymore - Wall Street Journal (Paywall) - "It’s 2027, and you’re walking down the street, confident you’ll arrive at your destination even though you don’t know where it is. You may not even remember why your device is telling you to go there."

    ON THE WIRES

    • First Data Introduces Local Payments Solution to Power Cross-Border Global Commerce - "With First Data’s Local Payments solution, a merchant can manage varying online payment methods through a single interface, using a single collection model. Now, a retailer can easily enable a customer in Europe who wants to use a mobile wallet or a customer in Latin America who prefers making electronic cash payments. Local Payments facilitates numerous payment methods, including real-time online banking, direct debit, cash/voucher payments, payment wallets, payout schemes, and more."
    • Urban Airship Analysis of Retailers’ Mobile Wallet Coupons and Loyalty Cards Reveals Widespread Peer-to-Peer Sharing - "Analysis of more than one million Apple Wallet coupons and loyalty cards of major retail brands shows that for every mobile wallet pass a customer installs, it is shared and added to 3.3 other mobile devices on average—a 4.3X share rate. More than three-quarters of retailers’ installed passes were the result of sharing versus being created and distributed through their marketing channels."
    • FLEETCOR Migrates Comdata Business to IBM Cloud - "FLEETCOR Technologies, Inc. (NYSE:FLT), a leading global provider of fuel cards and workforce payment solutions, today announced the successful migration of its Comdata business to IBM’s state-of-the-art cloud-based processing environment. The flexibility and advanced capabilities of this new infrastructure will allow FLEETCOR to rapidly accommodate growth while maximizing performance for customers and partners."
    • NICE Actimize Expands “Essentials” Cloud Offerings with Fraud Management Options Addressing Mid-Sized Financial Services Organizations - "NICE Actimize, a NICE (Nasdaq:NICE) business and the largest and broadest provider of financial crime, risk and compliance software for the financial services industry, announces the expansion of its “Essentials” Cloud offerings with the addition of the Actimize Fraud Essentials Cloud solution providing a comprehensive fraud detection operation and investigations platform targeting the specific requirements of mid-sized financial services organizations. Built on the principles of a software-as-a-service model, this solution offers secure cloud-based delivery that ensures rapid deployment and lowered total cost of ownership for growing, mid-sized firms protecting themselves from increased fraud attacks."
    • ezVerify and LendingPoint Launch ezCarePoint to Bring Unprecedented Transparency, Ease and Affordability to Medical Payments - "By integrating the ezVerify and LendingPoint technologies, ezCarePoint will help patients verify their insurance coverage and payment responsibility for health care services before the procedure takes place, preventing incidents where patients unexpectedly find themselves responsible for bills outside of their insurance coverage. If the patient can’t pay the out-of-pocket costs up front, they will have the option to apply for a loan and payment plan quickly and easily from the ezCarePoint platform. "

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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. Take a discount for attending all three days. Here's our fall schedule:

  • Payments Boot Camp, October 3-4, 2017, San Jose, CA, Event Logistics
  • Payments Boot Camp, October 17-18, 2017, NYC, NY, Event Logistics
  • Payments Boot Camp, December 5-6, 2017, Palo Alto, CA, Event Logistics
  • Global Payments, October 5, 2017, San Jose, CA, Event Logistics
  • Digital Payments, October 19, 2017, San Jose, CA, Event Logistics
  • Innovation in Payments, December 7, 2017, Palo Alto, CA, Event Logistics
  • For more, click 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!

    June 23, 2017

    Headline News from PaymentsNews.com - June 23, 2017

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

    ON THE WEB

    • Fed’s Stress Test Puts Focus on Credit Cards - Wall Street Journal (Paywall) - "The Federal Reserve’s annual stress-test of banks showed that credit cards have moved to the top of the list of concerns about potential losses. Banks would incur $100 billion in projected credit card losses in a severely adverse hypothetical recession calculated by the Fed in Thursday’s test, the first part of a two-stage exam that will culminate next week in large banks being told by the regulator whether they can proceed with dividend and share-buyback plans."
    • The 4 Types of Innovation and the Problems They Solve - Harvard Business Review - "We need to start treating innovation like other business disciplines — as a set of tools that are designed to accomplish specific objectives. Just as we wouldn’t rely on a single marketing tactic or a single source of financing for the entire life of an organization, we need to build up a portfolio of innovation strategies designed for specific tasks."
    • Durbin Repeal Effort Could Be Complicated by Nuanced Position of Some Small Banks - Wall Street Journal - "Community bankers Digital Transactions talked to for a story on the legacy of the Durbin Amendment are split on the issue of repeal, while merchants, as might be expected, solidly favor keeping the amendment as is. If anything, some argue its rules and interchange restrictions should be extended to credit cards."
    • Razer makes virtual currency push with $20M investment in Asian payment firm - TechCrunch - "Razer has invested close to $20 million into Malaysia-based online payment firm MOL Global as part of a push to establish its virtual currency for gamers in Asia. The deal sees Razer subsidiary ZV-Midas buy equity from existing backers MOL Investment and Hotel Resort Enterprise in a deal that values the MOL Global business at around the $100 million mark."
    • ABN Amro pilots wearable payments with select customers - NFC World - "A select group of ABN Amro customers has begun piloting payments using NFC-enabled rings supplied by Kerv and smartwatches. The pilot is being run to test the technology ahead of a wider roll out to all customers later this year."
    • Fintech lingo explained - Reuters - "The world of financial technology - also known as fintech –involves lots of buzzwords, jargon and often obscure terminology. Here's a list of some of the industry's main lingo."

    ON THE WIRES

    • New Commissioned Ecommerce Research from Digital River: Customer Churn Causes Nearly 20 Percent Fall off in Annual Subscription Revenue - "Digital River, Inc., a leading global provider of Commerce-as-a-Service solutions, announced the results of a commissioned study, which explores the impact customer churn, or turnover, has on the growth, profitability and innovation efforts of online subscription businesses. As subscription services filter into every major industry from software and snowboards to luxury cars and baby diapers, managing churn is a matter of business success and failure. The study, conducted by Forrester Consulting on behalf of Digital River, is titled “The Art and Science of Reducing Involuntary Subscriber Churn” and available at http://driv.ws/gn."
    • ABA Survey Identifies Opportunities, Gaps in Bank Payment Strategy - "Eighty-seven percent of respondents to the American Bankers Association first-time payments survey indicated that their bank does not have a formal payments strategy. Of those, only 46 percent have plans to develop a formal payments strategy. The survey results were released on the first day of ABA’s inaugural Payments Forum in Washington, D.C."

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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!

    June 22, 2017

    Headline News from PaymentsNews.com - June 22, 2017

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

    ON THE WEB

    • Stripe refocuses European effort with 6 new markets and expanded payments platform - Venture Beat - "Stripe has announced a handful of tidbits that underscore the fast-growing fintech startup’s aspirations in Europe. Thus far, Stripe has only been fully available to businesses in the U.K., Ireland, Denmark, France, Spain, Norway, Finland, and Sweden. But as of this week, another six markets have been added to the mix: Germany, Switzerland, the Netherlands, Austria, Belgium, and Luxembourg."
    • Square gets green light to take on banks with 'PIN on glass' mobile technology - Financial Review - "The PCI Security Standards Council, which comprises the five largest global credit card companies, is expected to green light the way Square captures PIN numbers through smartphones. The move will frustrate big banks that make significant profit from older proprietary payments terminals with buttons. The Australian Financial Review understands payment industry executives have been briefed by the standards body that it is close to finalising a new global standard for "PIN on glass", or "Mobile PIN", technology. This allows merchants to turn smartphones or tablets into a payments terminal by downloading software and plugging a small card reader into the headphone jack."
    • What works in e-commerce - a meta-analysis of 6700 online experiments - Quit Digital white paper - "We conduct a meta-analysis on over 6700 large e-commerce experiments, mainly from the retail and travel sectors, grouping together common treatment types performed on websites. We find that cosmetic changes have a far smaller impact on revenue than treatments grounded in behavioural psychology"
    • Amazon and Alibaba Use Same Means to Different Ends - Wall Street Journal (Paywall) - "In retail, fashions are now moving from east to west. Online giant Amazon’s $13.7 billion deal to buy Whole Foods has shaken up the sector in the U.S. That isn’t unusual in China, where e-commerce behemoth Alibaba has already been snapping up brick-and-mortar stores for some time, spending some $5 billion on physical retail companies in recent years."
    • Jack Ma's Ant Financial Nearly Doubles Profits Amid Deal Push - Bloomberg - "Since starting as Alipay in 2004, Ant Financial has grown into an online giant that controls more than half of China’s $5.5 trillion mobile payments market. The company expanded into money-market funds and is now ramping up assets overseas via deals in India, Thailand and the U.S. The profit surge could shore up investor confidence for an initial public offering, which is said to be planned for as soon as next year."
    • TrueLayer raises $3M Series A to provide fintech companies with easy access to bank APIs - TechCrunch - "TrueLayer, a London startup that’s built a developer platform to make it easy for fintech companies to access bank APIs — and ride the PSD2 gravy train — has raised $3 million in Series A funding. The round was led by Anthemis Group, with participation from existing investor Connect Ventures, and will be used by TrueLayer to expand its team and increase coverage of supported banks before opening up beyond beta testers later this year."
    • The API for your bank account is here - Teller blog - "Every Teller API call hits your bank to return current live data reflecting the current state of your account. Not only does Teller return live data, it does so extremely quickly, in most cases under a second."
    • A Cyberattack ‘the World Isn’t Ready For’ - New York Times (Paywall) - "The ransom demand was just a smoke screen for a far more invasive attack that stole employee credentials. With those credentials in hand, hackers could have run free through the company’s computer network, taking confidential information or destroying machines."

    ON THE WIRES

    • Usage of Mobile Banking and Digital Payment Grows Dramatically in India Post Demonetisation, New FIS Survey Shows - "FIS’ third annual Performance Against Customer Expectations (PACE) report, which surveyed 1,000 banking consumers in India, found that more than 60 percent of survey respondents said they have used mobile devices this year to check their account balances, view recent transactions, pay bills, transfer funds or other banking needs. This was up from 39 percent of survey respondents in 2016 and 34 percent in 2015."
    • WEX Survey Reveals CFOs’ Thoughts on Future of Payments - "The survey of 500 CFOs around the United States found that nearly three-quarters of respondents (72 percent) already have an electronic payables initiative underway, while 26 percent are considering one—with 93 percent of those respondents indicating that they are working to launch an electronic payables system in the next six to 12 months. Further, more than half of respondents (57 percent) are currently outsourcing platforms or technology to perform accounts payable functions."
    • Leumi Card To Use Feedzai’s Artificial Intelligence Platform to Fight Fraud - "Leumi Card, one of Israel’s leading consumer credit card service providers, will implement Feedzai’s Artificial Intelligence (AI) platform to enhance its fraud detection and prevention capabilities, while continuing to provide a frictionless omnichannel experience for its customers."
    • Verifone Launches Two PCI 5.0 Certified Payment Solutions to Offer Portability and Mobility for On-the-Go Businesses, Line-Busting, and Pay-at-the-Table Service - "Designed for the 21st century merchant in fast-paced environments, both devices are commerce-enabled and certified with the highest level of global security, PCI 5.0. This important certification, granted by the PCI Security Standards Council, ensures strong device protection for cardholder payment data and ensures the strongest possible protection in a multi-layered security approach."
    • Offline, Online, Everywhere – SumUp Launches Omnichannel Payment Suite - "SumUp, the leading mobile point-of-sale provider, today announces a major extension of its offer with the launch of a number of new payment functionalities that allow businesses to accept payments online. Merchants can now process payments through a payment form that is sent via SMS to customers as well as via SumUp’s Virtual Terminal in the SumUp Merchant Dashboard on their computer. In addition, merchants can also accept online payments through an integration of SumUp as a payment tool in their web shop."

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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!

    June 21, 2017

    Headline News from PaymentsNews.com - June 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

    • Is WeChat Pay Taking Over Alipay? - Forbes - "Is WeChat Pay taking over Alipay? The situation can be better characterized as WeChat Pay and Alipay settling into a stable duopoly, not unlike how MasterCard and Visa have a virtual duopoly in the credit card world. According to market research firm Analysys, in Q1 2017 Alipay enjoyed approximately 54% share of mobile transaction value while WeChat Pay took 40% share. Average Alipay transaction values are higher than WeChat Pay transactions, so if you are just counting number of digital transactions, it is pretty much even at this point."
    • Final: One credit card account to rule them all - TechCrunch - "A startup called Final wants to change the way people use credit cards — or rather, the company wants to change the credit card industry to fit consumers’ lifestyles. With a 1 percent cash-back bonus and no annual fee, Final offers a competitive credit card product, but it really excels in the flexibility it provides in the way consumers can manage virtual cards across multiple vendors."
    • YES Bank inks pact with TerraPay for swift international remittance - Banking & Finance Post - "Private sector lender Yes Bank has collaborated with mobile payments switch TerraPay to ensure real-time money transfer to bank accounts in India.This feature by TerraPay’s global clearing and settlement service, the collaboration will make it faster and convenient for the consumers to send money to any bank account."
    • Transfer Money Instantly to Your Bank Account with PayPal - PayPal - "PayPal users in the U.S. will soon be able to instantly transfer money to their bank accounts via eligible debit cards linked to their PayPal account. We expect that funds will typically be available in your bank account in a matter of minutes, although some banks may take up to 30 minutes. Our beta of this is now available to select PayPal users and will be made available to all U.S. PayPal users with eligible Visa or Mastercard debit cards over the coming weeks and months."
    • Visa Prepares for the Future of Payments With API Push - Wall Street Journal CIO Journal blog - "Visa has had to think beyond traditional payments to maintain its relevancy, especially in an era where digital and physical worlds are constantly colliding. E-commerce and mobile apps have upended the traditional idea of going to the store, walking up and down aisles, putting items in a cart, queuing in line and finally paying at a cash register, said Jim McCarthy, Visa’s executive vice president of innovation and strategic partnerships. People now want immediacy and frictionless experiences when it comes to purchasing items."
    • US consumers turn to digital payments for online purchases - NFC World - "More than 70% of online shoppers across the US have used digital payment services including mobile wallets, one-click checkout buttons and peer-to-peer (P2P) payment apps, research released by American Express reveals, with 41% “always or sometimes” choosing to use digital solutions when they pay. "
    • How PSD2 and GDPR may improve retail payments for all - Finextra blog - "There is much talk about Payment Service Directive 2 (PSD2) and the opportunities, threats and costs to meet this regulation. However, when PSD2 is coupled with the requirements of General Data Protection Requirements (GDPR), significant challenges emerge for retail payments. "
    • A Bitcoin Scaling Upgrade: How It Could Finally Happen (And How It Could Fail) - Coindesk - "Bitcoin, it seems, has one of two futures. Either the $40bn economic network that still defies scientists is on the verge of the biggest change in the network's history, or the most advanced of its many long-theorized scaling compromises is headed toward its biggest political failure. In recent weeks and months, the likely outcome has shifted quickly, often daily, as the varying stakeholders and competing proposals have jockeyed for position, media attention, and in some cases, actual headspace in the form of creative political attire."

    ON THE WIRES

    • Verifone and SITA are First to Enable Integrated, Scalable, and Highly Secure Payment Acceptance for Shared Check-In Desks and Kiosks at Airports Worldwide - "With the goal to offer passengers seamless, secure, and convenient payment acceptance at shared check-in desks, kiosks, and baggage areas in airports, Verifone (NYSE: PAY), a world leader in payments and commerce solutions, announced that it is working with SITA, the world's leading air transport IT and communications specialist, to offer a unique payment solution integrating an airport’s shared IT infrastructure and Verifone payment devices."
    • KAL Launches Open Banking Technology Ahead of Europe’s PSD2 Initiative - "KAL, a trusted provider of transaction software to banking giants around the world, will supply core technology to enable banks to achieve PSD2 compliance with its secure, scalable and cost-effective open banking solution, KTH for PSD2. This is just one of several technologies due to be launched by KAL as part of its KAL-Payments initiative. EU banks have until January 2018 to implement PSD2 APIs meaning that banks must act now to ensure they are compliant with PSD2 and can play a key role in this new banking landscape. For banks to thrive in this open market, it is vital they implement an Open API enabling third parties to access customer data securely using “SCA” (secure customer authentication)."
    • RETAILERS TO LOSE $71 BILLION IN CARD-NOT-PRESENT FRAUD OVER THE NEXT 5 YEARS - "New data from Juniper Research has found that retailers stand to lose $71 billion globally from fraudulent CNP (Card-Not-Present) transactions over the next 5 years. The research found that a number of factors, such as the USA’s shift to EMV cards, delays in 3DS 2.0 (3D-Secure) and click-and-collect fraud were key drivers behind the rise. "
    • Harris Poll: PayPal Leads Mobile Payment Brands, Yet Up-And-Comers Making Brand Equity Gains - "PayPal -- followed closely by Amazon brands -- retains its Brand of the Year designation, leading mobile payment brands for the third consecutive year. However, up-and-coming brands Venmo (owned by PayPal), Square, and Apple Pay are making significant gains, according to new research from The Harris Poll's 29th annual EquiTrend Study, which measures brand health over time."

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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!

    June 20, 2017

    Headline News from PaymentsNews.com - June 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

    • Instant bank transfers are coming to PayPal and Venmo - TechCrunch - "PayPal announced this morning a plan to speed up money transfers between its service, Venmo and users’ bank accounts for those with supported MasterCard and Visa debit cards. This new “instant transfers” service will be available at a rate of $0.25 per transaction, and will deliver funds in a matter of minutes, instead of the day or so it typically takes when using PayPal or Venmo."
    • Paytm Payments Bank to join the UPI bandwagon in August - Economic Times - "The newly-launched Paytm Payments Bank will go live on the unified payment interface (UPI) by August. This will allow its customers to transact using a virtual payment address issued by the bank. The payments bank will be the latest to join the UPI bandwagon, with 50 banks already live on the platform."
    • India's Paytm Said to Seek License to Offer Money Market Fund - Bloomberg - "India’s largest digital-payments company, Paytm, is seeking a license to set up a money market fund where users can store cash and earn interest, in competition with the country’s banks, according to a person familiar with the matter."
    • Indian messaging unicorn Hike moves into payments, taking notes from Tencent's WeChat - CNBC - "India's home-grown instant messaging service Hike on Tuesday announced wide-ranging updates to its app, including a new mobile wallet that lets users send and receive money instantly. The Hike Wallet has several features, including a linkage to the government-backed unified payments interface that allows free and instant bank-to-bank money transfer, even if the recipient does not use the Hike app."
    • Here’s how Klarna could demolish the banking sector as we know it – and poach millennials away from the big guys - Business Insider Nordic - "Yesterday’s news about Klarna’s newly granted banking license hit the Swedish – and European – fintech and banking sectors with a bang. Klarna Bank, as the company is officially called, can now move into big bank territory and start offering its customers a broader range of financial services. “This is something we have been longing for. It's a fresh start for the company, as we’re moving into a new segment,” said CEO Sebastian Siemiatkowski in an interview with Di Digital."
    • The Virtual-Currency War That Threatens to Tear Bitcoin Apart - Wall Street Journal (Paywall) - "A calcifying rift in the bitcoin world is pitting two camps with competing visions for what the virtual currency should be against each other, accentuating the volatility that has come to define this market."
    • Move Over, Bitcoin. Ether Is the Digital Currency of the Moment. - New York Times - "The price of Bitcoin has hit record highs in recent months, more than doubling in price since the start of the year. Despite these gains, Bitcoin is on the verge of losing its position as the dominant virtual currency. The value of Ether, the digital money that lives on an upstart network known as Ethereum, has risen an eye-popping 4,500 percent since the beginning of the year."

    ON THE WIRES

    • FICO Survey: US Firms May be Overconfident About Cybersecurity Protection - "Senior executives at US firms may be overconfident in their cybersecurity protection, according to a new survey conducted by research and consultancy firm Ovum for Silicon Valley analytics firm FICO. Twenty-seven percent of executives from US firms said they were better prepared than their competitors, and an additional 27 percent of these executives said their firm was a top performer. US respondents were more likely to rate their firms as above average than respondents in Canada."
    • Clearent Expands Quick Chip Technology to PAX Devices - "Today, Clearent is expanding its integrated payments solution for Independent Software Vendors (ISVs) by offering Quick Chip technology for EMV on PAX devices. Last month, Clearent announced their Quick Chip technology for ISVs on Dejavoo’s line of POS terminals. Now, with more payment device options, ISVs can give their merchants greater flexibility when integrating payments. ISVs can offer their merchants a wide range of PAX devices, including the new PX series. "

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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!

    June 19, 2017

    Headline News from PaymentsNews.com - June 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

    • Meet the Chinese Finance Giant That’s Secretly an AI Company - MIT Technology Review - "The smartphone payments business Ant Financial is using computer vision, natural language processing, and mountains of data to reimagine banking, insurance, and more."
    • Instant Payments and the Post-PSD2 Landscape - Ovum - "This ground-breaking study quantifies the detrimental effect Instant Payments and PSD2 will have on traditional credit and debit card payments in Europe and provides the only quantitative insights into exactly how and when this decline will take place. It also shows how Instant Payments under PSD2 will change the way consumers pay for goods and services, revolutionising e-commerce, and delves into potential ways banks can mitigate these threats."
    • Klarna gets a full banking license, gears up to go beyond financing payments - TechCrunch - "The license will give Klarna — which up to now has powered payments for 60 million customers and works with 70,000 merchants — the ability to turn on a range of new banking products and services for its customers across Europe. These could include issuing payment cards; and moving into products to become an all-in-one digital wallet."
    • The Amazon-Walmart Showdown That Explains the Modern Economy - New York Times - "With Amazon buying the high-end grocery chain Whole Foods, something retail analysts have known for years is now apparent to everyone: The online retailer is on a collision course with Walmart to try to be the predominant seller of pretty much everything you buy."
    • San Francisco retailers offer special discounts and prizes through Apple Pay - NFC World - "US consumers will be given exclusive offers and discounts on purchases when they choose to make a payment using Apple Pay in stores across the Hayes Valley Shopping District and San Francisco Marina as part of Apple’s Lose your Wallet promotion."
    • Contactless now the favoured way to pay for British shoppers as spending leaps 34 per cent since the start of 2017 - Barclays Bank - "As the tenth anniversary of Barclaycard introducing contactless technology to the UK approaches in September, this latest insight reveals ‘touch and go’ is now the preferred way to pay among British shoppers. More than half (51 per cent) of all transactions up to the eligible spending limit of £30 are now made using contactless, which shaves seven seconds off the time taken to process a transaction compared to Chip and PIN."
    • Bitcoin Is Digital Gold. But Will You Buy a Sandwich With It? - Bloomberg - "Even as the euphoria over bitcoin reached a fever pitch last week as the price surged to almost $3,000, slow transaction times and inertia are helping to prevent it from achieving widespread usage. Adoption has slowed, according to Morgan Stanley, after a slew of companies from Microsoft Corp. to Expedia Inc. initially trumpeted its use, and hurdles remain when it comes to longer-term viability."
    • 5 billion people now have a mobile phone connection, according to GSMA data - VentureBeat - "Planet Earth has hit a notable technological milestone, with five billion people globally — or two-thirds of the world’s population — now laying claim to a mobile phone connection."
    • ARM Cortex-A75: ground-breaking performance for intelligent solutions - ARM - "Artificial intelligence (AI) and machine learning (ML) are coming to your device, on the ‘edge’, in addition to being a key capability delivered from the data center or the ‘cloud’. This is one of the strongest new trends we see emerging in every kind of edge device. From your connected thermostat, to your self-driving or autonomous car, to your mobile handset and wearable tech, you are starting to see the emerging use of ML algorithms to enable machines to help us live better lives."
    • Credit Card Breach at Buckle Stores - Krebs on Security - "The Buckle Inc., a clothier that operates more than 450 stores in 44 U.S. states, disclosed Friday that its retail locations were hit by malicious software designed to steal customer credit card data. The disclosure came hours after KrebsOnSecurity contacted the company regarding reports from sources in the financial sector about a possible breach at the retailer."

    ON THE WIRES

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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!

    June 16, 2017

    Headline News from PaymentsNews.com - June 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

    • The Amazon-Walmart Showdown That Explains the Modern Economy - New York Times - "If retail were the only industry becoming more concentrated, it would be one thing. But a relative few winners are taking a disproportionate share of business in a wide range of industries, including banking, airlines and telecommunications. A study by the Obama White House’s Council of Economic Advisers found that in 12 of 13 industry sectors, the share of revenue earned by the 50 largest firms rose between 1997 and 2012."
    • Monese adds Direct Debits to become even more like a regular bank account - TechCrunch - "Monese, the London-based fintech startup that offers a mobile banking app and current account, continues to fill in missing features that might otherwise stop it from replacing your bank altogether."
    • More evidence that credit card companies are lending to riskier customers - MarketWatch - "Capital One, Omaha-based First National Bank, and Synchrony Financial are three of the companies that saw the largest increase in charge-offs between the first quarter of 2016 and first quarter of 2017, Moody’s found. Capital One had a 5.31% charge-off rate in the first quarter of 2017, up from 4.23% in 2016, a 1.08% increase year over year, Moody’s said."
    • Aadhaar mandatory for opening bank account, financial transactions of Rs 50,000 and above - The Economic Times - "Anyone looking to open a bank account will have to furnish his Aadhaar number along with the income tax permanent account number (PAN). The Aadhaar will also be needed for any financial transaction above Rs 50,000 (~$775 USD), underscoring the increasing degree to which the biometric identity is becoming the cornerstone of government measures to curb unaccounted income along with PAN. "
    • Gilbarco Announces the First U.S. EMV Chip Card Transaction From a Fuel Pump - Digital Transactions News - "The U.S. conversion to EMV chip card payments took a step forward Thursday when fuel-pump maker Gilbarco Veeder-Root announced what it says is the first EMV chip card transaction from a fuel dispenser."
    • Amazon buys Whole Foods for $13.7 billion - Ars Technica - "Amazon announced today it will acquire the Whole Foods Market for approximately $13.7 billion. The acquisition comes as the two companies agreed to enter a definitive merger agreement in which Amazon will acquire the supermarket chain for $42 per share in an all-cash transaction, and it will include Whole Foods' net debt."
    • Goldman-backed startup Circle launches no-fee foreign payments service - Reuters - ""We don't think there is any money to be made in payments anymore," said Allaire. "The entire business model of extracting a toll or having time delays around the movement of value is going away completely.""

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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!

    June 15, 2017

    Headline News from PaymentsNews.com - June 15, 2017

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

    ON THE WEB

    • Amazon India gears up to expand scope of digital payments service in India - livemint - "Amazon India indicated that it is witnessing rapid growth from its Amazon Prime membership programme amid a healthy increase in the number of new users from second and third-tier cities and towns, even as the e-commerce giant looks to broaden the scope of its digital payments service in India after getting the go-ahead from the Reserve Bank of India to potentially launch its own digital wallet service."
    • India’s MobiKwik is raising new funding at $1B valuation to battle payment rival Paytm - TechCrunch - "MobiKwik, the mobile payments startup that is number two to Paytm in India, is quietly confident that it can take advantage of its rival’s focus on e-commerce and recent entry to banking to even the playing field. To strengthen its case, MobiKwik, which is solely focused on payments, is in the process raising its largest financing from investors to date."
    • Amazon unveils $20 Dash Wand with Alexa for voice-enabled grocery ordering and home controls - GeekWire - "Amazon just introduced a new Alexa device: a $20 version of its Amazon Dash Wand with the voice-enabled smart assistant built in for ordering food, getting recipes and controlling smart-home devices. The new device is exclusive to Prime members, and works in conjunction with the AmazonFresh grocery service."
    • Swedish commuters validate tickets using NFC microchips implanted in their hands - NFC World - "Commuters travelling on trains run by Swedish transport operator SJ are trialling a system that lets them have their ticket validated using an NFC microchip implanted in their hand. The microchip ticket is being piloted with customers who are SJ Prio members and the project “will be assessed on an ongoing basis”."
    • Your money: Consumers grapple with tip inflation - Reuters - "But with the advent of pre-calculated tipping options, and apps like Square that allow businesses to customize payment screens, consumers are prompted for tips in unfamiliar circumstances. Options in the 20-25-30 percent range pop up with increasing frequency. Welcome to the phenomenon of "tip inflation.""
    • Game of Bluffs? With Bitmain Plan, Bitcoin Scaling Becomes Digital 'Missile Crisis' - Coindesk - "Long a sort of Cold War, bitcoin's scaling debate is escalating into what may be best described as a digital Cuban Missile Crisis. No longer open for diplomacy, users of the $40bn economic network, which hit an all-time high in value last weekend, are now in the midst of evaluating an ever-increasing array of threats from various network stakeholders, each of whom is seeking to steer discourse and development."
    • The Bitcoin Selloff You Knew Was Coming Has Arrived - Wall Street Journal - "The parabolic gains in bitcoin and digital currencies this spring have reversed course sharply in the last day. Bitcoin was down as much as 12% on Thursday, pulling down virtually every of the “altcoins” along with it. Since cresting over the $3,000 mark on Monday, bitcoin has fallen about 27%. By traditional capital market standards, that drop would constitute a new bear market, but bitcoin is not a traditional capital asset."

    ON THE WIRES

    • Financial Solutions Lab Announces Winners of $3 Million Fintech Competition to Improve Financial Health of Overlooked Populations in America - "Today the Financial Solutions Lab (FinLab) at the Center for Financial Services Innovation (CFSI) with founding Lab partner JPMorgan Chase & Co. (NYSE:JPM) announced eight financial services innovators as the winners of its third competition, aimed at identifying solutions that can help Americans improve their financial health. Each winner will receive $250,000 in capital and additional resources to test, enhance and scale their products, many of which are designed to address the needs of often overlooked populations, such as people of color, low-income women, aging Americans, and individuals with disabilities."
    • Worldwide Spending on the Internet of Things Forecast to Reach Nearly $1.4 Trillion in 2021, According to New IDC Spending Guide - "The IoT use cases that are expected to attract the largest investments in 2017 include manufacturing operations ($105 billion), freight monitoring ($50 billion), and production asset management ($45 billion). Smart grid technologies for electricity, gas and water and smart building technologies are also forecast to see significant investments this year ($56 billion and $40 billion, respectively). While these use cases will remain the largest areas of IoT spending in 2021, smart home technologies are forecast to experience strong growth (19.8% CAGR) over the five-year forecast. The use cases that will see the fastest spending growth are airport facilities automation (33.4% CAGR), electric vehicle charging (21.1% CAGR), and in-store contextual marketing (20.2% CAGR)."

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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!

    June 14, 2017

    Headline News from PaymentsNews.com - June 14, 2017

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

    ON THE WEB

    • Amazon gives 2% rewards back to Prime members who deposit cash via their bank account - GeekWire - "Amazon today added a new way for Prime members to earn cash-back. “Amazon Prime Reload” gives customers 2% back when they reload their Amazon Gift Card Balance with a connected checking account and linked debit card. For example, if you load $100 onto your Gift Card Balance from your checking account, you’ll get an extra $2 in Amazon dollars added within minutes."
    • Visa rolls out new framework to speed up B2B payment services - Cards International - "Visa has introduced a new strategic framework, known as Visa Ready Program for Business Solutions, which will help speed up business-to-business (B2B) payment services. The new programme will help technology firms that integrate with Visa’s B2B payment services and data solutions ensure that they are in line with Visa’s standards. At the outset, Bora Payment Systems, Bottomline Technologies, CSI globalVCard, MineralTree and Priority Commercial Payments will receive Visa Ready for Business Solutions approval and bring latest Visa payments to business customers."
    • The blockchain paradox: Why distributed ledger technologies may do little to transform the economy - Oxford Internet Institute - "Bitcoin’s underlying technology, the blockchain, is widely expected to find applications far beyond digital payments. It is celebrated as a “paradigm shift in the very idea of economic organization”. But the OII’s Professor Vili Lehdonvirta contends that such revolutionary potentials may be undermined by a fundamental paradox that has to do with the governance of the technology."
    • Paytm Mall to bring brick-and-mortar stores online via QR codes - livemint - "Paytm Mall, the e-commerce arm of payments firm Paytm, on Wednesday said it will enable physical stores to display QR codes (quick response), allowing customers to scan the code, browse and shop from the stores’ catalogue on Paytm Mall."
    • Mastercard and Oxford University unveil framework for mobile biometric banking - Biometric Update - "Since 93 percent of consumers prefer biometrics to passwords, according to researchers, and 92 percent of banks want to adopt biometric technology, its adoption should be advancing rapidly. Only 13 percent have deployed biometrics, and only 36 percent of the involved decision-makers say they have adequate experience to tackle the situation, however, and this shortfall motivated Oxford and Mastercard to release a “Five Factor Framework” for mobile biometrics."
    • What Canada is doing to transform the way we pay for almost everything - Financial Post - "The friction is why credit card payments can take a couple of days to hit a merchant’s account, he says, and partly why international cheques can take up to a month to clear. The friction is why credit card payments can take a couple of days to hit a merchant’s account, he says, and partly why international cheques can take up to a month to clear."
    • Report: How Involuntary Churn Threatens the Growing Subscription Payments Model - Digital Transactions News - "The report, which canvassed more than 200 subscription and recurring payments professionals and was conducted by Forrester Research Inc., found that payment-related failures are the most common reason for involuntary churn. In these cases, the recurring payment fails because of insufficient funds or a technical reason. Overall, 66% of the surveyed companies are able to retain 66% of their subscribers, but lose an average of 34% to churn."

    ON THE WIRES

    • New FICO Fraud Solution Can Identify the Source of Compromised Cards Faster - "Silicon Valley analytics firm FICO today announced the availability of FICO® Card Compromise Manager, an anti-fraud solution that proactively detects and prioritizes compromised merchants and data breaches involving card data. A powerful companion to FICO® Falcon® Platform, Card Compromise Manager is capable of detecting card present, card not present and ATM fraud. It uses advanced analytics to provide a ranked list of potential compromises and recommended actions to minimize losses and customer impact."
    • Early Warning & Payfone Sign Agreement To Provide Mobile Identity Authentication Solutions For Zelle (SM) - "Payfone, a leader in mobile identity authentication for digital channels, today signed an agreement with Early Warning Services to provide mobile authentication technologies for ZelleSM. Payfone risk assessment solutions will help streamline consumer enrollment and transaction authentication processes, enabling more consumers to take advantage of the speed and simplicity of person-to-person (P2P) payments."

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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!

    June 13, 2017

    Headline News from PaymentsNews.com - June 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 now used for international P2P transfers, courtesy of WorldRemit - TechCrunch - "AndroidPay, Google’s wallet for Android devices, is getting a boost in its global profile and functionality today: WorldRemit, the $500 million remittance startup connected to around 120 million mobile money accounts globally, which lets residents in one country transfer money to family and friends in another, has announced that it will now let people make transfers using Google’s mobile wallet."
    • Security Investments Consume SWIFT's Profits - CU Infosecurity - "Banks that collectively own SWIFT saw their profits vanish last year as the organization increased its investments in information security, even as the interbank messaging service handled record volumes of money-moving messages."
    • Is Amazon a bank: ramps up lending in challenge to big banks - Payments Cards & Mobile - "Amazon.com said Thursday that its Amazon Lending service has surpassed $3 billion in loans to small businesses since it was launched in 2011. Amazon is planning to expand its lending to small businesses in the US, the UK and Japan, in a direct challenge to the big banks which have historically dominated."
    • Fiserv to buy UK mobile payments pioneer Monitise for 70 million pounds - Reuters - "U.S. financial technology provider Fiserv said on Tuesday it had agreed to buy British financial services technology firm Monitise Plc for about 70 million pounds ($88.72 million). AIM-listed Monetise, worth about 2 billion pounds at its peak in early 2014, blazed a trail by linking banks and mobile operators to build a business capable of handling billions of dollars in mobile payments, purchases and money transfers."
    • Scammers Are Using Fake Apple In-App Subscriptions to Make Lot of Money - The Hacker News - "Shady developers are abusing Apple's relatively new and immature App Store Search Ads, which was launched at last year's Worldwide Developers Conference (WWDC), to promote their app in the store by using a few strategically chosen search ads and a bit of SEO."
    • Goldman’s Blankfein, Citi’s Corbat Duped by Email Prankster - Wall Street Journal - "The chief executives of Goldman Sachs Group Inc. and Citigroup Inc. C are the latest bank bosses to be hooked by an email prankster trolling top Wall Street brass, exposing a low-tech gap in banks’ cybersecurity armor."

    ON THE WIRES

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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!

    June 12, 2017

    Headline News from PaymentsNews.com - June 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

    • Banks Across U.S. Debut Faster Peer-to-Peer Payments With Zelle - Bloomberg - "More than 30 U.S. banks and credit unions are unveiling a unified service to customers this week, called Zelle, after years of watching Silicon Valley innovators from Square Inc. to Apple Inc. build peer-to-peer payment systems. It will supplant a patchwork of products the biggest banks have offered their customers for years. This time, the service is faster and so broad, that chances are it already has your money."
    • After a 12-Year Ride, Changing Market Conditions Spur VeriFone To Ditch Taxis - Digital Transactions News - "The need for greater investment to grow what is currently a low-margin business prompted San Jose, Calif.-based VeriFone to divest its Taxi Solutions unit, top executives said Thursday at a quarterly earnings call with analysts. While VeriFone expects the unit to generate $60 million in revenues in 2017’s second half, chief financial officer Marc Rothman said its margins are “significantly lower” than the average for VeriFone’s overall services business."
    • Amazon loaned SMEs $3 billion since 2011, $1 billion in the past year alone - VentureBeat - "Amazon Lending is available on an invite-only basis to small businesses that sell goods through Amazon’s online marketplace. It was initially only available in the U.S. before it was expanded to Japan, followed by the U.K. in June 2015. The company previously revealed plans to expand the offering to a number of other countries, including China and Canada, but it appears this has yet to come to fruition."
    • Wal-Mart Entices Credit Card Applicants With Instant Access Via Walmart Pay - Digital Transactions News - "Wal-Mart Stores Inc. is giving customers another reason both to take its credit cards and use its Walmart Pay mobile wallet by enabling new cardholders to use their credit accounts immediately upon approval via Walmart Pay rather than having to wait for a plastic card to come in the mail."
    • Ant Financial extends online credit service to retailers - China Daily - "Ant Financial Services Group, the online finance firm backed by billionaire Jack Ma, will extend its online consumer credit service to four million retail businesses across the country to boost sales and encourage spending-as China's consumers increasingly feel more comfortable shopping with borrowed money."
    • Target and Cartwheel apps to merge starting this summer, mobile payments and improved maps to follow - TechCrunch - "Target’s mobile app strategy will undergo a significant change, starting this summer. The retailer announced this week it will soon combine the functionality of its Cartwheel savings app with its main shopping app, in preparation for an eventual Cartwheel shutdown. The Target app will also receive a notable upgrade this year, adding support for an indoor map that shows your location in the store, along with the nearby Cartwheel deals, in addition to support for mobile payments."
    • Blockchain successfully tested in sale of mutual funds - Financial Times (Paywall) - "Calastone, the technology company, said it had successfully used blockchain to buy and sell mutual funds under test conditions, in a move that could help spur a revolution in the asset management industry by cutting costs and improving efficiency."
    • Hackers Are Hijacking Phone Numbers And Breaking Into Email, Bank Accounts: How To Protect Yourself - Forbes - "With just your phone number and a little bit of what’s called “social engineering” in which a hacker doesn’t necessarily need technical knowledge but just to convince a customer service rep that they are you, a maliciously intentioned person can break into all the above accounts and more."

    ON THE WIRES

    • More Banks and Credit Unions to Join Zelle through Fiserv Partnership with Early Warning - "Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that multiple banks and credit unions will join the Zelle Network℠ through Turnkey Service for Zelle℠ from Fiserv, allowing consumers to make fast person-to-person (P2P) payments directly from their online banking sites and mobile banking apps."
    • TSYS Announces Foresight Score with Featurespace - "TSYS (NYSE: TSS), in conjunction with Featurespace, announced a new fraud prevention product today, called TSYS Foresight ScoreSM with Featurespace®. Foresight Score is a fraud and risk scoring tool that incorporates innovative machine learning — a form of Artificial Intelligence (AI) that allows software to learn over time without being explicitly programmed — to bolster an issuer’s ability to fight transactional fraud. It was built in partnership with Featurespace and relies on their powerful and proven adaptive behavioral analytics platform — known as ARIC®."
    • Diebold Nixdorf And Samsung SDS Demonstrate Next Step In Cardless ATM Transactions With Mobile-based Biometric Authentication - "To maximize consumer convenience, the innovative approach enables consumers to stage a withdrawal via their mobile banking app prior to arrival. Once they approach the ATM, the consumer simply taps their Samsung Galaxy S8 mobile device to the near field communications (NFC) reader on the ATM, confirms their transaction and instantly receives a prompt to complete authentication via facial recognition on their mobile device. Once verified, cash will dispense and the transaction is complete in less than half the time of a standard ATM transaction. This technology and experience can also support customers using other Android and iOS devices."

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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!

    June 09, 2017

    Headline News from PaymentsNews.com - June 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

    • Orange Poland launches payments using Android Pay - telecompaper - "Orange Poland has become the first operator on the market to launch payments by mobile phone using Android Pay integrated with Orange Finance. Clients can activate the payment by mobile phone and enter a debit or credit card directly to the mobile banking service of Orange Finance. No additional applications need to be installed. "
    • NXP issues statement of support for NFC tag reading on Apple devices - NFC World - "NXP welcomes the 16m registered developers to the NFC universe,” the company says. “We trust that they will happily start using the available iOS 11 beta version. We look forward to a surge of creativity, and a significant increase in consumer-focused Internet of Things (IoT) applications."
    • Watch out for this surprise credit-card charge, the CFPB warns - MarketWatch - "“Deferred interest” means they offer no interest for a set period of time, as long as the balance is paid in full by the end of that promotional period. For consumers who are able to pay that balance off, a deferred-interest card can then be a viable option. The problem, the bureau said: Many consumers do not realize they will be charged interest retroactively on all the purchase made during the promotional period if they do not pay the balance in full. And it may not be clear from reading the cards’ terms that this is the case."
    • Keolis launches ‘all-in-one’ digital app to plan travel, book, and validate tickets - Metro Magazine - "Keolis announced the availability of its “Plan Book Ticket” solution, a “three-in-one” digital app enabling passengers to plan, book, buy, and validate their tickets using their smartphones. The solution, which has several of its functions in use on other networks in France, is now complete with the inclusion of M-Ticket, a digital tool that allows passengers to purchase and validate their tickets on a whole transport network, making public transport simple and easy to use. The first network to use the app in its complete version is TAO (bus and trams) in Orléans, France."
    • IBM signs 10-year cloud services agreement with Lloyd's Banking Group - ZDNet - "IBM on Thursday confirmed it's signed a 10-year, $1.66 billion (£1.3 billion, including VAT) deal with Lloyds Banking Group to provide dedicated cloud services for the UK bank. The deal rivals the size and scope of some of IBM's largest cloud agreements, the tech giant said. Lloyds Banking Group has 12.5 million online customers and 8 million mobile users, making it the UK's largest digital bank, IBM noted."
    • How Ethereum became the platform of choice for ICO’d digital assets - TechCrunch Network - "For most of the history of blockchain-based currencies and assets, the story has been all about Bitcoin. At a market capitalization of around $40 billion, it remains the most valuable cryptocurrency. But with the rise of a new ‘chain on the — ahem — block, namely Ethereum, and new ways to fund the development of new crypto-platforms with ICOs, the narrative is shifting somewhat to the entire cryptographic asset class."

    ON THE WIRES

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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!

    June 08, 2017

    Headline News from PaymentsNews.com - June 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

    • Amazon’s Lending Business for Online Merchants Gains Momentum - Bloomberg - "The company issued $1 billion in loans in the past year to merchants selling on its marketplace. Amazon launched the lending business in 2011 and uses data from more than 2 million merchants to identify those it deems credit worthy. Transaction processing companies PayPal Holdings Inc. and Square Inc. offer similar credit options using data from their payments businesses, creating new financing options for small merchants that could have trouble securing loans from banks."
    • Western Union Reveals Pilot Coinbase Integration - Coindesk - "It may come as a surprise, therefore, that Western Union is trialing an integration with digital currency exchange Coinbase, in which Western Union will appear within the web app of the exchange. In conversation with CoinDesk, Thompson revealed that the project entered into development last fall, and is currently being piloted with Western Union employees. No launch date has been set, but an announcement could be forthcoming."
    • HDFC Bank to charge for UPI transactions from 10 July - livemint - "HDFC Bank sent emails to its customers late on Monday informing them about the new fees to be imposed on all outward UPI transactions as well as the benefits of using UPI for transferring funds. According to the email, for a transaction amount of upto Rs25,000, the fee will be Rs3 plus taxes, and for a transaction amount of Rs25,001 to Rs100,000, the bank will charge Rs. 5 plus taxes."
    • Gemalto and ThreatMetrix Team Up on Payment Authentication - Digital Transactions News - "Chipmaker Gemalto N.V. and risk-management firm ThreatMetrix Inc. announced that they are jointly providing online authentication technology to banks, payment-service providers, payment networks, and financial startups. Through a single vendor relationship, the companies’ customers can get access to ThreatMetrix’s Digital Identity Network and Amsterdam-based Gemalto’s various authentication services. The combination covers entire spectrum of risk-based and strong authentication techniques from both firms, the companies said."

    ON THE WIRES

    • Visa Study: IoT and Things Paying for Things are Driving the Future of Commerce - "The study found that 75 percent of consumers have at least one connected device, in addition to their smartphones, computers or tablets. 83 percent recognize those devices as saving time and reducing friction when making purchases - subsequently creating an unattended checkout experience, regardless of device or platform. This seamless purchase experience is of interest to all respondents, with auto-pay at the pump and in-store topping the list at 40 percent."
    • Visa Expands Global Network of Providers to Drive Acceleration Into IoT Payments - "Today, Visa (NYSE:V) announced it has signed 13 new partners to participate in its token service provider (TSP) program, as the payments industry shifts from plastic to digital and broader access to new standards, such as tokenization, are needed. With demand expected to increase for payments to be embedded into a growing number of devices, services and experiences, Visa has built out a global network of partners to offer secure, digital payment token services and ensure that regardless of form factor, an Internet-of-Things (IoT) device, appliance, wearable or beyond, can become a more secure place for commerce."
    • Mastercard Launches Comprehensive Digital Payment Solution For Small and Midsized Businesses - "The Mastercard B2B Hub, delivered through card issuers, is an end-to-end automated solution that meets the payment needs of small and midsized companies. It leverages digital tools and resources to maximize electronic payments across cards and data-enriched ACH. With The Mastercard B2B Hub, companies will no longer be burdened with the costs of manual accounts payable and payment processes. In addition to driving cost efficiencies, The Mastercard B2B Hub enables a more secure electronic payment experience, provides enhanced data and insights, offers easier reconciliation, and meets the funding needs of companies."
    • AvidXchange™ Announces Strategic Partnership with Mastercard to Make AP and Payment Automation Prolific for Small and Midsize Businesses and Signs $300 Million in Financing to Support Growth and Continued Innovation - "AvidXchange™, a leading fintech provider of accounts payable and payment automation for midsize companies, announced today its strategic partnership with Mastercard to deliver accounts payable and payment automation to small and midsize businesses. To support AvidXchange's continued growth and ability to scale operations for strategic ventures, such as the one with Mastercard, the company is also announcing the signing of $300 million in financing with contributions from Caisse de dépôt et placement du Québec (CDPQ), Mastercard, Temasek, and Peter Thiel. The company's long-term partner, Financial Technology Partners LP and FTP Securities LLC ("FT Partners"), served as exclusive financial and strategic advisor to AvidXchange in this transaction."
    • DotDashPay integrates mobile payments and loyalty with ID TECH VivoPay devices - "DotDashPay, an innovative payment software technology company based in San Francisco, has completed certification and integration with the ID TECH suite of contactless readers including the Kiosk III and VivoPay 4880 series."

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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!

    June 07, 2017

    Headline News from PaymentsNews.com - June 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

    • iOS 11 could use the iPhone’s NFC chip for more than Apple Pay - engadget - "Apple may have an awkward history of avoiding and then embracing NFC in the past, but new developments at this week's Worldwide Developer's Conference indicate those days are long gone. Apple already announced new NFC functions coming to the Apple Watch with watchOS 4, but according to documents for the upcoming iOS 11 release, the iPhone's NFC chip might also be handling much more than just Apple Pay transactions and Passbook check-ins."
    • Nevada Becomes First US State to Ban Blockchain Taxes - Coindesk - "In addition to preventing local governments from taxing the use of a blockchain or smart contract (or requiring a licensure for their use), the bill stipulates "if a law requires a record to be in writing, submission of a blockchain which electronically contains the record satisfies the law" – meaning that data from a blockchain can be introduced in "proceedings"."
    • CoinDesk Research Launches State of Blockchain Q1 Report - Coindesk - "From the spark of what has become a massive cryptocurrency rally to the emergence of major enterprise efforts like the launch of the Enterprise Ethereum Alliance, the first quarter may ultimately come to be seen as a defining one for the industry."
    • UK e-commerce market reaching new heights – Infograph - Payments Cards & Mobile - "As the first and largest e-commerce market in Europe, the UK is showing no signs of slowing down. With a population of 65.14 million, 77% of whom are e-shoppers, and an annual e-commerce turnover over €130 billion. It’s no wonder the UK is soaring in the ranks of e-commerce."

    ON THE WIRES

    • Fiserv Survey Finds Payments Now More Mobile, More Personal, While Digital Wallets Show Measured Growth - "The latest Expectations & Experiences consumer trends survey from Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, finds consumers are paying more bills from mobile devices and making more person-to-person payments while starting to venture into digital wallets. Faster payments continue to be important to consumers, with 76 percent saying that it is at least somewhat important that the payments they make are delivered in real time."
    • LendingArch Launches Online Lending and Point-of-Sale Platform in Quebec - "LendingArch, the Calgary-based online and point-of-sale (POS) lending platform, today announced its expansion to Quebec. LendingArch has partnered with medical clinics and home improvement contractors in Quebec to offer POS financing options, enabling LendingArch to become a fourth in-store payment method by applying online to finance products or services for up to 36 months. Quebec residents will also be able to use LendingArch's platform to borrow money online using flexible low-cost consumer loans to consolidate debt, including credit cards, and for funding other major purchases."
    • Net Element's PayOnline Launches Payment Acceptance for International Mobile Network Operator - "Net Element, Inc. (NASDAQ: NETE), a global financial technology and value-added solutions group that supports companies in accepting electronic payments in an omni-channel environment that spans point-of-sale (POS), e-commerce and mobile devices, today announces that its PayOnline subsidiary has launched payment acceptance services for V-Tell, an international mobile network operator."
    • Bango Enables New Payment Option for Amazon Customers in Japan - "Bango (AIM: BGO), the leading mobile payments company, announces that it has enabled a new payment method for Amazon customers in Japan. Amazon customers with a KDDI (au) or NTT DOCOMO mobile phone account can now pay for physical goods from Amazon.co.jp, by charging the cost to their mobile phone bill."

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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!

    June 06, 2017

    Headline News from PaymentsNews.com - June 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

    • In Cashless Sweden, Even God Now Takes Collection Via an App - Bloomberg - "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."
    • EMV Accounts for More Than Half of Major-Brand U.S. Cards, New EMVCo Figures Show - Digital Transactions News - "The U.S. transition to the EMV chip card standard has been a long and troubled road, but statistics released by the international standards body behind EMV indicate encouraging progress. As of the end of 2016, 52.2% of major-brand payment cards in the United States—some 675 million cards—were chip-enabled, double the rate a year earlier, when the EMV card count was 394 million, according to EMVCo."
    • Bitcoin Price Shoots Past $2,900 to Hit New All-Time High - Coindesk - "The price of bitcoin has hit a new all-time high, according to the CoinDesk Bitcoin Price Index (BPI). The market average has risen to as high as $2,911.86 as of press time, BPI data shows, surpassing the previous all-time high of $2,791.69 set on 25th May."
    • WeChat Pay, Alipay North American expansion presents golden opportunity for retailers - Luxury Daily - "With Chinese travelers being one of the most valuable customer bases for luxury goods, negotiations are underway to make mobile payment solutions WeChat Pay and Alipay acceptable in North America. The move comes at the behest of Citcon, a cross-border commerce company, China Luxury Advisors and The Momentum Group, a marketing agency that works with WeChat. Together, the three are hoping that Chinese travelers will soon be able to use WeChat Pay and Alipay while abroad in the United States, easing the purchase of international luxury goods."
    • Apple Pay is suddenly a threat to PayPal and Square - VentureBeat - "Apple is introducing the P2P payments feature into iMessage, so users can more easily send money to friends they are messaging with. During a chat, for example, machine learning technology will detect a mention of payments and include an Apple Pay button on the keyboard."
    • AmEx Outduels Citigroup for Exclusive Rights to Hilton Cards - Bloomberg - "American Express Co. has struck back against Citigroup Inc., winning exclusive rights to issue credit cards for Hilton Worldwide Holdings Inc. and ending an agreement in which the two banks shared the business."

    ON THE WIRES

    • New Ecommerce Research from Digital River Shows 34 Percent of Subscribers Are Needlessly Lost to Churn - "Digital River, Inc., a leading global provider of Commerce-as-a-Service solutions, announced that it will release a new research study titled, “The Art and Science of Reducing Involuntary Subscriber Churn,” during a live 60-minute webinar on June 14 at 12:00 p.m. CDT. Digital River recently commissioned Forrester Consulting, one of the world’s most influential research and advisory firms, to study the business impact of involuntary subscriptions churn on high-tech enterprise businesses in the United States, France, Germany and the UK. "

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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!

    June 05, 2017

    Headline News from PaymentsNews.com - June 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

    • Justice Department Drops Antitrust Case Against AmEx, But 11 States Press On - Wall Street Journal (Paywall) - "Attorneys general from 11 states filed a petition Friday afternoon asking the U.S. Supreme Court to review their case against American Express Co., which centers on whether the card company can ban merchants from encouraging consumers to use cards that run on competing networks, like Visa and Mastercard . Also Friday, the Justice Department said it won’t ask the Supreme Court to review its antitrust case against AmEx. “We believe the DOJ’s decision not to proceed sends a strong signal that this seven-year litigation should come to an end,” an AmEx spokesman said in a statement."
    • Apple introduces iOS 11 - TechCrunch - "When it comes to Apple Pay, you can now send money to other Apple Pay users — think Venmo or Square Cash. It’s built into iMessage when you want to send money. And if you receive money, you get an Apple Pay Cash card with a balance. You can send this money again or withdraw it to your bank."
    • In Yet Another ISV Play, GTCR Buys Sage Payment Solutions for $260 Million - Digital Transactions News - "Finally, the rumors can stop. Sage Payment Solutions, the U.S. merchant-services arm of Sage Group plc, has been sold to GTCR LLC, a Chicago-based private-equity firm, for $260 million, GTCR announced Friday. Reports of a possible sale of the company, which counts approximately 100,000 merchants in its portfolio, originally surfaced in January."
    • Digital India: UPI-based transactions grew more than 20 times since demonetization - BGR - "UPI’s monthly transaction value shot up from $15 million before November 8 to $359 million by the end of the financial year (March 2017), according to the recently-released Mary Meeker Report. That is a 24 times increase in less than two quarters. Currently, a third of India’s mobile wallet transactions happen on UPI. This figure stood at less than five percent prior to demonetization."
    • MobiKwik Sees India Cash Ban 'Opportunity' Delaying Profit Goal - Bloomberg - "One MobiKwik Systems Pvt., one of India’s largest digital-payment providers, is pushing back its target for profitability by a year as it invests more in its business to capitalize on the government’s shock ban on high-value rupee notes."
    • Walmart: Blockchain Food Tracking Test Results Are 'Very Encouraging' - Coindesk - ""This is just the start of our blockchain exploration. We plan to continue to test the technology, by including more data attributes, for example. And we will continue to test how we can use it to improve food traceability and transparency by collaborating with others throughout the supply chain. This means farmers and suppliers and other retailers.""
    • Chinese Company Behind Adware That Infected Over 250 Million Computers - BleepingComputer - "A Chinese digital marketing company named Rafotech is behind a wave of inter-connected adware families that found their way onto the computers of millions of users, says Israeli cyber-security firm Check Point. According to an extensive investigation, Check Point claims Rafotech has designed a very intrusive adware that hijacks people's browsers with the primary purpose of redirecting traffic to fake search engines."

    ON THE WIRES

    • Interac® Debit on Android Pay launches in Canada - "Interac Association/Acxsys Corporation ("Interac") announced today the launch of Interac Debit on Android Pay. As part of Google's rolling deployment, consumers with debit cards issued by BMO Financial Group*, CIBC*, Desjardins* and Scotiabank* will be able to pay using Android Pay starting on Monday, June 5, 2017. Interac Debit on Android Pay allows consumers to use their eligible Android device to make fast, secure and convenient mobile contactless transactions at hundreds of thousands of merchant locations across Canada where Interac Flash® contactless payments are already accepted."
    • Xiaomi and Apple Tie for the Top Position as the Wearables Market Swells 17.9% During the First Quarter, According to IDC - "The worldwide wearables market maintained its upward trajectory during the first quarter of 2017 (1Q17) with Xiaomi and Apple leading all companies and multiple products experiencing double- and triple-digit growth. According to the International Data Corporation (IDC) Worldwide Quarterly Wearable Device Tracker, companies shipped a total of 24.7 million wearable devices during 1Q17, up 17.9% from the 20.9 million units shipped in 1Q16."
    • Worldwide EMV Deployment Statistics - "The statistics below, most recently reported as of Q4 2016, show the percentage of card-present transactions that are EMV. The reported data represents the most accurate possible data that could be obtained by American Express, Discover, JCB, MasterCard, UnionPay, and Visa. It should be noted that, globally, 52.4% of transactions are EMV."

    GLENBROOK PAYMENTS EDUCATION EVENTS

    Understanding the accelerating pace of change in the payments 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!