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November 30, 2016

Headline News from PaymentsNews.com - November 30, 2016

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

November 29, 2016

Headline News from PaymentsNews.com - November 29, 2016

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

November 28, 2016

Glenbrook's Spring 2017 Payments Boot Camp Schedule

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

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

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

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

Headline News from PaymentsNews.com - November 28, 2016

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

November 23, 2016

Headline News from PaymentsNews.com - November 23, 2016

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

ON THE WEB

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

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

November 22, 2016

Headline News from PaymentsNews.com - November 22, 2016

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

November 21, 2016

Headline News from PaymentsNews.com - November 21, 2016

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

November 18, 2016

Headline News from PaymentsNews.com - November 18, 2016

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

November 17, 2016

Headline News from PaymentsNews.com - November 17, 2016

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

November 16, 2016

Headline News from PaymentsNews.com - November 16, 2016

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

November 15, 2016

Headline News from PaymentsNews.com - November 15, 2016

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

November 14, 2016

Headline News from PaymentsNews.com - November 14, 2016

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

November 11, 2016

Headline News from PaymentsNews.com - November 11, 2016

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

ON THE WEB

  • Deutsche Bank: Capital Markets Expect Blockchain Impact Within 6 Years - Coindesk - "Three out of four capital markets participants now believe distributed ledger tech will see widespread use within the next six years, according to a new Deutsche Bank report."
  • Introducing Messenger Platform v1.3 and New Ways to Drive the Conversation - Facebook developer blog - "We are introducing a payments update that will allow businesses who are not integrated with Stripe/Paypal to process payments within both messages and webview. When a user makes a payment, Facebook will send the business single-use, tokenized credentials, which will allow them to integrate with their preferred payment provider. It also allows developers who manage multiple bots to integrate payments without requiring additional setup for each bot that they manage. This feature continues to roll out in a closed beta."
  • Majority of Digital Users in U.S. and China Regularly Shop and Purchase via E-Commerce - IAB - "When it comes to making a purchase, American shoppers are much more likely to use a credit or debit card (63% U.S. vs. 34% China on computer; 37% U.S. vs. 6% China on mobile). In China, payment is much more likely to take place via a digital payment service like PayPal or WePay (47% China vs. 15% U.S. on computer; 36% China vs. 17% U.S. on mobile) or a mobile wallet service like Apple Pay (21% China vs. 2% U.S.)."
  • Report: Airports Could Be the Next Big Beacon Hubs - Street Fight - "“In order for an app to communicate [with a beacon, one’s] Bluetooth needs to be turned on, which has been an obstacle [for the widespread adoption of beacon technology],” said Walle, adding that this obstacle appears to be dying out. “A few years ago an average of 30 percent of users had Bluetooth turned on, now it’s at 50 percent.”"
  • UK Government Embraces FIDO in Formal Digital Security Strategy - Find Biometrics - "The UK government is deepening its commitment to the FIDO Alliance’s authentication standards. It has just laid out its UK National Cyber Security Strategy in an 84-page document, and adherence to FIDO is an important component, observes the FIDO Alliance’s Brett McDowell in a new post on the Alliance’s website."
  • Where Do Consumers Still Need Biometric Authentication? - Mobile ID World - "But the personal computer is far from the final frontier for consumer biometrics. Anywhere that convenience is desired and strong security is needed, biometrics can be applied to make life easier and safer for consumers."
  • Fooling Facial Recognition Systems - Schneier on Security - "This is some interesting research. You can fool facial recognition systems by wearing glasses printed with elements of other peoples' faces."
  • A short history of 150 years of paper currency in India - Quartz - "Until the 18th century, silver and gold coins were commonly used in India. But as private European trading companies established their own banks in the region, such as the Bank of Hindostan in Calcutta, they began issuing the very first versions of Indian paper notes, which were initially just text-based."

ON THE WIRES

  • Vantiv Announces Agreement to Acquire Moneris Solutions USA - "Vantiv, Inc. (NYSE: VNTV), a leading provider of payment processing services and related technology solutions, announced today its agreement to acquire Moneris Solutions, Inc. (Moneris USA) from Moneris Solutions Corporation (Moneris) for $425 million USD, subject to certain adjustments. Schaumburg, IL-based Moneris USA is the U.S. subsidiary of Moneris, which is a joint investment between BMO Financial Group and Royal Bank of Canada (RBC)."
  • AirPlus and Airbnb to Integrate Booking and Payment Solution - "The companies are working on an integrated payment process so that the traveler will be able to book accommodation on Airbnb and automatically centrally bill the corporate account. Travel managers can ensure optimal transparency and perform data analysis with additional information such as cost center, project or employee number."
  • Flywire Expands Cross-Border Tuition Payment Service in Australia - "Flywire, a leading provider of cross-border payment solutions, has expanded in Australia, opening a new office in Sydney to support its local operations. The move builds on Flywire’s existing Asia-Pacific presence in Shanghai, China, Singapore and Tokyo, and strong growth worldwide."

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

  • Scott Loftesness, a Glenbrook founding partner, formally retired October 31. Read Carol Coye Benson's Payments Views post about our co-founder's impact on the industry and on Glenbrook. If you know Scott, too, leave a comment!
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Among other positions, we're looking for an East Coast engagement manger. Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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

November 10, 2016

Headline News from PaymentsNews.com - November 10, 2016

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

ON THE WEB

  • Siri can now send money via PayPal - TechCrunch - "PayPal users can now send and request payments using simple voice commands via Siri on iOS 10 on iPhone and iPad. The online payments company is making the new feature available to users in 30 countries, and in a number of languages, and it requires only that the iOS app be installed with a logged in user account."
  • Toast lands $1.5M for cross-border payment services for migrant workers in Asia - TechCrunch - "Fintech is blowing up in Southeast Asia. Toast, a startup that helps make cross-border payments easier and cheaper for migrant workers living overseas, is the latest to help itself to money from investors. The Singapore-based startup today announced that it has closed a $1.5 million round that it is billing as a ‘pre-Series A’ raise. Aetius Capital led the round, which included participation from US-based 1776 and Australian financial services company Pepper Group."
  • Google Wallet unveils payments app for web browsers - NFC World - "Google has unveiled a new Google Wallet web app that will allow users to send money to friends and family through a web browser. The recipient doesn’t need the Google Wallet app to receive the payment, the company says, but senders need to link their debit card to their Google account and have access to a browser."
  • Hyperledger's Next Act: A Blockchain Bridge to China - Coindesk - "Blockchain consortium Hyperledger, for example, was initially founded with support from companies in almost exclusively Western nations. Yet, the consortium has grown this year to include more than 20 members headquartered in China and 10 from Japan and South Korea, with a spattering of members from other nations represented as well. With that success, Hyperledger executive director Brian Behlendorf has faced a new challenge, creating a system that allows information to flow between its multilingual members as seamlessly as data on a blockchain."
  • Paytm fortifying its offline payment network, aims to hire over 10,000 agents - IBT - "The recent demonetisation decision of the PM Narendra Modi government could be a shot in the arm to mobile payment sector with the ban on the old Rs 1000 and Rs 500 notes. Paytm, a leading mobile payments and commerce platform has announced that it will be improving its offline payment network."
  • Regulation of the Internet of Things - Schneier on Security - "Your security on the Internet depends on the security of millions of Internet-enabled devices, designed and sold by companies you've never heard of to consumers who don't care about your security."

ON THE WIRES

  • Citi Launches Global API Developer Hub to Enable Open Banking - "Today, Citi announced the launch of a new global API Developer Hub (developer.citi.com) to rapidly connect with developers and enable them to build innovative client solutions faster than ever before. The global developer platform is one of the most comprehensive to date in the financial services industry. The release of Citi APIs marks the evolution of Citi’s technology to open architecture, which will facilitate collaboration and partnerships with FinTech companies and consumer brands across the globe to benefit customers. Through the global API Developer Hub, Citi will grant developers access to APIs across eight usage categories, including account management, peer to peer payments, money transfer to institutions, Citi rewards, investment purchases and account authorization. Additional categories will be added over time."
  • Citi Unveils Global Digital Wallet: Citi Pay - "Citi Pay will be made available to Citi customers for online and in-app purchases. As a digital extension of their current card relationship, Citi customers will be able to make online and in-app purchases using the same Citibank online user ID and password that they currently use to manage their existing online relationship with Citi. Citi is partnering with Mastercard® to leverage its digital payment service, Masterpass®, to enable the online and in-app transactions. This will allow Citi customers to use Citi Pay at hundreds of thousands of merchants across 33 countries at launch. For Android users, the digital wallet also enables Citi cardholders to make in-store purchases by tapping their Android mobile devices at any NFC-enabled point-of-sale terminal."
  • Cardtek and DC Payments Partner to Introduce Canada's First Mobile Payment Solution for Debit Cards - "Cardtek's MSM solution is integrated into DC Payments card management ecosystem as a gateway connecting issuers, DC Payments and a variety of Tokenization Service Providers (TSP), beginning with Interac, Canada's leading payments brand. MSM enables advanced card credential management services including deployment and life cycle management - tuned for the major digital wallets available in the market."
  • Global Payments Announces Support for Apple Pay in PARKnSHOP - "Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology services, now supports PARKnSHOP - the ability to accept credit and debit card payments with Apple Pay - which is transforming mobile payments with an easy, secure and private way to pay that is fast and convenient in Hong Kong."
  • CPI Card Group Sees Strong Market Adoption of Card@Once® Instant Issuance Solution, Surpasses 1,100 US Bank and Credit Union Customers - "CPI Card Group (Nasdaq:PMTS) (TSX:PNT), a global leader in financial and EMV® chip card production and related services, today announced that more than 1,100 banks and credit unions are actively leveraging its SaaS-based Card@Once® instant issuance solution to successfully provide in-branch, instant issuance of EMV-enabled debit and credit cards to their cardholders."
  • SoftBank and Zimperium to Offer Security Solutions for Mobile Devices in Japan - "In this environment, Zimperium's mobile security solution incorporates an AI-powered threat detection engine that is built to detect both known and unknown threats. The company offers a wide range of products for enterprises and end-users, including security solutions for smartphones, security-conscious software development kits for fintech apps and other categories, and tools for companies to collectively manage the security of multiple devices. Zimperium is also dedicated to finding and helping fix flaws across the entire mobile ecosystem, including both Android and iOS. With its detection of "Stagefright," a bug that impacted the global Android ecosystem in 2015, the company has built a strong track record for cutting-edge research."
  • PAX Launches Next Generation Mobility D220 Payment Terminal - "This elegantly designed paperless point of sale terminal powered by Linux operating system and comes packed with state-of-the-art technology never seen before in mobile payment devices, including a 4-inch full-body dynamic colour touch screen, high performance Cortex A9 processor, longer lasting battery with 3050mAh capacity, and wireless power charging."

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

  • Scott Loftesness, a Glenbrook founding partner, formally retired October 31. Read Carol Coye Benson's Payments Views post about our co-founder's impact on the industry and on Glenbrook. If you know Scott, too, leave a comment!
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Among other positions, we're looking for an East Coast engagement manger. Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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

November 09, 2016

Headline News from PaymentsNews.com - November 9, 2016

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

ON THE WEB

  • Study says only 8 percent of shoppers use retailer apps. Should they give up? - Marketing Land - "A new survey from inMarket offers some insights and a bit of contradictory data to the growing body of information about in-store smartphone usage. The company examined the mobile shopping behaviors of 2,500 US smartphone owners who used their devices in stores."
  • Mobile Payments in the US Growing Fast, but Still Far from Mass Adoption - eMarketer - "Despite double-digit growth this year and next, Americans’ use of mobile wallets like Apple Pay, Android Pay and Samsung Pay, as well as branded apps that include mobile wallets like the Starbucks app, Walmart Pay and CVS Pay, will not reach mass adoption in the foreseeable future. This year, 38.4 million Americans 14 and over will have used their mobile phones to pay at the point of sale at least once in the preceding six months. That’s just 19.4% of US smartphone users. By 2020, that figure will grow to 33.1% of smartphone users."
  • India's Ill-Timed Paper Chase - Bloomberg Gadfly - "Outlawing high-denomination banknotes, which account for 86 percent of the 16.4 trillion rupees ($245 billion) of currency in circulation, will sting India Inc. Still, the benefits of Tuesday night's surprise demonetization could be both large and enduring."
  • Don’t panic. Here’s Quartz’s 48-hour survival guide to living cash-free in urban India - Quartz - "However, in the world’s fastest-growing startup ecosystem, it is remarkably easy to imagine going cash-free in urban India—at least for the next 48 hours. Everything from getting to work to stocking your fridge is, luckily, just a click away."
  • Mobile UX: A First Look at “Second Look” Transaction Alerts from Capital One - Fin ovate - "Fast-forward six years and Capital One owns the innovation mantle, at least in the United States. It has Capital One Labs, it runs an innovation centre in the Bay Area, and now offers the most advanced set of mobile apps in the card-issuing business."
  • Mobile-only bank Pepper gears up for launch in Israel - Banking Technology - "Israel’s Bank Leumi is gearing up for the launch of its new digital banking subsidiary, Pepper. It is expected to open its virtual doors for business before the end of 2016. Pepper will be available on mobile only. It will offer savings and lending products, with no checking account fees."

ON THE WIRES

  • Verifone and ATIO Group Partner on Comprehensive Forecourt and mPOS Solution for Petroleum Retailers in Mexico - "Verifone (NYSE: PAY), a world leader in payment and commerce solutions, and ATIO Group, a leading provider of retail fuel technology in Mexico and other Latin American markets, have announced a partnership to provide integrated payments technology to Mexico’s petroleum retailers. Mexico is the sixth largest consumer of motor gasoline and diesel with more than 11,000 filling stations across the country, and its energy market deregulation allows foreign companies to import, own assets, and sell other fuel brands."

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

  • Scott Loftesness, a Glenbrook founding partner, formally retired October 31. Read Carol Coye Benson's Payments Views post about our co-founder's impact on the industry and on Glenbrook. If you know Scott, too, leave a comment!
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Among other positions, we're looking for an East Coast engagement manger. Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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

November 08, 2016

Headline News from PaymentsNews.com - November 8, 2016

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

ON THE WEB

  • Wal-Mart Pay in talks with several mobile wallet companies - Reuters - "Wal-Mart Stores Inc (WMT.N) is in talks with several mobile wallet companies to offer more payment options in its Wal-Mart Pay app, an executive at the world's largest retailer said, after signing up JPMorgan Chase & Co (JPM.N) last week."
  • Bank halts online transactions after money stolen from 20,000 accounts - Ars Technica - "Tesco Bank customers remain locked out from making current account transactions, two days after it was revealed that money had been stolen from 20,000 accounts over the weekend."
  • Stripe launches Works With Stripe, a directory of apps that integrate with its payments - Tech Crunch - "Stripe, the company that competes against the likes of PayPal by letting businesses add payment services into their apps and websites with a few lines of code, is today launching a new directory that plays into its bigger ambition to position itself as not just a payment tech startup, but a wider platform for business services."
  • Cash Is Still King in Japan, and That Could Be a Problem for the BOJ - Bloomberg - "More than 101 trillion yen ($966 billion) of cash was circulating at the end of October. It was used for more than 80 percent of transactions by value in 2014."
  • European millennials demand higher standards for mobile payments services - NFC World - "The survey — based on the responses of 4,000 consumers aged 18-34 across Germany, Italy, the Netherlands and the UK — finds that in all four countries millennials would prefer to see mobile payments services delivered by either their banks — especially in the Netherlands and the UK — or by PayPal (Germany and Italy)."
  • Citi introduces Touch ID - Finextra - "Citibank announces the launch of Touch ID Sensor authentication service in Hong Kong, allowing for a full suite of mobile banking services, including transaction, investment and enquiry, to be performed via its Citi Mobile® App on the iOS platform with iPhone 5s or later models1."

ON THE WIRES

  • Net Element Launches Proprietary Gift Card Software Application for Smart Payment Terminals - "Net Element's omni-channel gift and loyalty platform enables small-to-medium size businesses to centralize their customer data spanning in-store, online, and via social and mobile channels. Building on this platform, the newly launched Unified Payments gift card application is now fully integrated with Poynt's "terminal" and "register" applications and works seamlessly with any other payment acceptance application utilizing Poynt's payment framework."
  • Qondado Wins Patent For Digital Debit™ Mobile Payment System - "Qondado's objective in offering the GUI design license to third parties is to enable a multi-platform GUI design standard for device based transactions into a position of maximum usability adoption for first-factor authentication and payment authorization."

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

  • Scott Loftesness, a Glenbrook founding partner, formally retired October 31. Read Carol Coye Benson's Payments Views post about our co-founder's impact on the industry and on Glenbrook. If you know Scott, too, leave a comment!
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Among other positions, we're looking for an East Coast engagement manger. Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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

November 07, 2016

Headline News from PaymentsNews.com - November 7, 2016

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

ON THE WEB

  • A Warning for Fintech - Bloomberg - "The hacking of Tesco Bank may be a negative for the company's reputation and stock price. But the fallout will be felt across the wider fintech industry."
  • Digital Asset Holdings Targets Systemically Important FIs With New Blockchain Tech - Coindesk - "Digital Asset Holdings has revealed new blockchain technology it believes could one day connect the world's most important financial institutions. Instead of a single "full stack" of its own applications, languages and execution capabilities, the company (headed by former JP Morgan executive Blythe Masters) is going for a more modular approach with its new Global Synchronization Log (GSL), revealed for the first time late last week."
  • Shades of Gray: Brazil’s Odd Check Clearing Rule - Deluxe blog - "Brazil’s banking industry association, FEBRABAN, caused a minor uproar earlier this year when it made the .PNG file its official legal format for scanned check images. While the move got little attention outside of its narrow industry niche, it had many banks complaining about operations nightmares and clamoring to get the decision reversed."
  • Banking Technology Vendors Feel the Pinch - Wall Street Journal - "One reason cited by analysts and executives is a delay in expected interest-rate increases, which lenders have been counting on to boost income. The rate outlook has pressured revenue gains, leading banks to push back technology budgets to next year. Also, they say, banks are so focused on fixing compliance problems that they’re working on those issues instead of upgrading core systems that can generate revenue."
  • The C-Suite’s Perspective on Cybersecurity and Liability - Leclair Ryan Information Counts blog - "Recently, IBM surveyed more than 700 C-Suite executives in 18 industries and 28 countries about their views on cybersecurity. Ninety-four percent of those interviewed believe that their respective companies will experience a cybersecurity incident in the next two years. Despite such widely-held acceptance of the inevitability of an incident, only sixty-five percent of C-Suite executives expressed a confidence in their cybersecurity plans."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

  • Scott Loftesness, a Glenbrook founding partner, formally retired October 31. Read Carol Coye Benson's Payments Views post about our co-founder's impact on the industry and on Glenbrook. If you know Scott, too, leave a comment!
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Among other positions, we're looking for an East Coast engagement manger. Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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

November 04, 2016

Headline News from PaymentsNews.com - November 4, 2016

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

ON THE WEB

  • Thai Kasikornbank, IBM join forces on blockchain network - Reuters - "Thailand's Kasikornbank Pcl has joined with the Thai unit of International Business Machines Corp to develop blockchain services in a bid to save costs and speed up transaction process, the companies said on Thursday."
  • Android apps will soon be able to offer cheaper, introductory subscription prices - The Verge - "There are many app categories where this could make a big difference. Music and video are certainly on that list; maybe cheaper introductory pricing could boost Google's own struggling YouTube Red service, or help Spotify maintain its lead over Apple Music and other rivals. Other apps like internet TV offerings (Sling TV, PlayStation Vue) and productivity tools (Evernote) also stand to benefit if developers are willing to temporarily cut their prices in hopes that customers will stay subscribed once the normal rate kicks in — either because they forgot or, more ideally, actually find the app or service to be worth the monthly charge."
  • More than one in five card payments in UK use contactless, figures show - NFC World - "More than one in five card payments are now made using contactless cards, The UK Cards Association says, adding it is “excited” by the possibilities the technology brings for making payments to transport operators and charities."

ON THE WIRES

  • Linxens Acquires Smartrac’s Secure ID & Transaction (SIT) Division - "LINXENS, a global leader in the design and manufacture of micro-connectors for smart cards, has today announced that it has acquired SMARTRAC's SIT division, a global leader in the development and manufacture of RFID inlays and antennas. The deal is expected to complete by the end of the year."
  • Uber Launches Its First Debit Card in Latin America, in Partnership with Bankaool - "Uber, the ride-sharing app that allows users to request safe, reliable and affordable rides with just a tap, in partnership with Bankaool, the first Mexican online bank, and Mastercard, the industry leader in electronic payments, announced the launch of Uber Bankaool Debit Card, an innovative solution that offers an alternative way to pay for rides, using a mobile banking app."
  • Alliance Data Announces New Credit Acquisition Tools Aimed At Reducing Friction, Application Time - "Alliance Data Systems Corporation's card services business, a premier provider of private label, co-brand and commercial credit programs, today announced its new, proprietary credit card acquisition tools for retailers, designed to add convenience, save time and reduce abandoned credit applications. I.D. Self-Scan and the first-of-its-kind Frictionless Mobile Credit provide shoppers with the ability to apply for a store-branded credit card in a matter of seconds. Early data indicates that Frictionless Mobile Credit reduces application time by more than 25 percent."

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

  • Scott Loftesness, a Glenbrook founding partner, formally retired October 31. Read Carol Coye Benson's Payments Views post about our co-founder's impact on the industry and on Glenbrook. If you know Scott, too, leave a comment!
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Among other positions, we're looking for an East Coast engagement manger. Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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

November 03, 2016

Headline News from PaymentsNews.com - November 3, 2016

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

ON THE WEB

  • Masterpass enables in-car payments through General Motors’ OnStar - NFC World - "Drivers will soon be able to make purchases from within vehicles using their Masterpass account through OnStar — a subscription-based, in-car communications service and General Motors (GM) subsidiary. The Masterpass-enabled service, designed in collaboration with IBM, is to be embedded in “many GM vehicles” in 2017."
  • Bud is a UK startup that wants to re-bundle all of your fintech apps into one fintech app - Tech Crunch - "Part personal finance dashboard, part fintech marketplace, you log in via the app to various supported current accounts, savings accounts and other financial products you currently subscribe to, such as money transfer, from which you are able to get a consolidated view of all of your spending and budgeting trends."
  • From mobile first to mobile native - Benedict Evans blog - "Now, though, I think we can see an evolution beyond ‘mobile first’. What happens if you just forget about the PC altogether? But also, what happens if you forget about featurephones? What happens if you presume all of the sophistication that a modern smartphone has and a PC does not, and if you also presume that, with 650m iPhones in use and 2.5bn smartphones in total, you can build a big company without thinking about the low end anymore?"
  • Mobile and tablet have overtaken desktop's share of page views - The Atlas charts - "While this doesn’t necessarily mean more people are using mobile devices than computers, or that people are using their mobile devices more than their computers, it does for certain mean people are viewing more individual webpages on mobile browsers than they are on desktop versions."

ON THE WIRES

  • Walmart to Accept Chase Pay - "Chase announced today that Walmart (NYSE: WMT) will accept Chase Pay® on Walmart.com, within the Walmart mobile application and in its stores through the Walmart Pay app."
  • Recurly Fraud Management Helps Subscription Businesses Combat Suspicious Transactions and Minimize Chargebacks - "Recurly, Inc., the enterprise-grade subscription management platform, today unveiled Recurly Fraud Management which provides automated, streamlined tools to protect revenue by minimizing chargebacks, prevent e-commerce fraud and deter the creation of unauthorized accounts. These threats, if left unchecked, decrease revenue and profits, increase operating costs, and impact customer trust."

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

  • Scott Loftesness, a Glenbrook founding partner, formally retired October 31. Read Carol Coye Benson's Payments Views post about our co-founder's impact on the industry and on Glenbrook. If you know Scott, too, leave a comment!
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Among other positions, we're looking for an East Coast engagement manger. Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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

November 02, 2016

Headline News from PaymentsNews.com - November 2, 2016

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

ON THE WEB

  • Venture Capitalists Get Radical and Invest in a...Bank - Wall Street Journal - "For the first time in over a decade, a group of Silicon Valley’s top venture firms are making a sizable bet on a deposit-taking U.S. bank. Battery Ventures LP, Andreessen Horowitz, and Ribbit Capital are investing $28 million in a fundraising round for CRB Group Inc., the holding company for eight-year-old Cross River Bank, according to the firms."
  • Jack Dorsey gets another break with a strong third quarter from Square - Tech Crunch - "A lot of the other key metrics for Square continue to rise. Gross payment volume — a measure of how much money is flowing through the company — was up 39% year-over-year in the third quarter to $13.2 billion. The company also said it processed more than 35,000 business loans for a total of $208 million, which was up around 70% from the third quarter last year. Square also said it had margins of around 7%."
  • Brad Garlinghouse takes over as CEO of payments startup Ripple - Tech Crunch - "After running Ripple for around four years and overseeing the company’s growth through around $94 million in financing, CEO Chris Larsen will be stepping down. Larsen will become executive chairman of the company — a common move in CEO transitions. But COO Brad Garlinghouse, previously CEO of Hightail as well as a former AOL and Yahoo senior executive, will be taking over the role as CEO. "
  • Samsung adds local Deals to mobile payment app - Mobile Commerce Daily - "The phone manufacturer added a few new features to its mobile payments application, expanding coverage to three new countries, integrating with more merchants and adding a local Deals section. The new feature helps consumers find nearby deals and lets them redeem those promotions in-app. "
  • Apple Pay Adds Support for 23 More U.S. Banks and Credit Unions - MacTrast - "Apple Pay recently added 23 more banks and credit unions to its rolls of U.S. financial institutions that offer support for Apple’s contactless payments service."
  • A Realistic Approach to Omnichannel Banking - FIS Payments Leader blog - "This paper demonstrates a logical series of approaches that collectively form the basis of an omnichannel blueprint for financial institutions. Financial institutions must move to omnichannel interactions in order to contend with nontraditional banking establishments. Long-term success becomes more realistic when banks begin with a plan that accomplishes initial financial benefit and designs a comprehensive customer assessment."
  • IBM Buys Watson-Based Expert Personal Shopper - eWeek - ""We look to incorporate the Expert Personal Shopper platform into the customer engagement and commerce solutions that we create for our retail clients," said Paul Papas, global leader of IBM iX, in a statement. "By adding XPS into digital experiences, IBM iX aims to make online discovery simpler, smarter and more personalized for consumers. In addition to retail, we believe, XPS can be leveraged and applied to the digital properties for brands across a variety of industries.""

ON THE WIRES

  • Citi Launches Ability to Dispute a Charge Within Mobile App - "Starting today, Citi credit cardmembers have the ability to quickly and easily dispute certain posted charges directly within the Citi Mobile App for iPhone in the U.S. The new feature is designed to provide increased peace of mind to consumers and infuse simplicity and transparency within an often emotional process."
  • CardFlight and Security Card Services enter into mobile payments partnership - "CardFlight, a mobile point of sale (POS) technology provider and Security Card Services (SCS), a bank-focused merchant services provider based in the southeast, today announced their partnership to offer CardFlight's SwipeSimple solution to SCS merchants, enabling them to accept EMV chip card payments on the go."
  • Confidex Links The World of NFC Applications - ""Confidex has manufactured highly personalized, high quality mass transportation tickets since 2005 and in so doing, has delivered over 600 millions NFC-compliant products into the global markets. We would like to offer this high-end manufacturing knowledge for everyday use-cases for consumer products such as smart packages, print media, as well as for industrial applications. With our new modular product approach, high manufacturing capacity and our global distribution channels we are ready to ship the next 100 million custom printed and encoded Confidex Links for various mass NFC applications around the world", tells Confidex Marketing Director, Mikko Nikkanen."

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

  • Scott Loftesness, a Glenbrook founding partner, formally retired October 31. Read Carol Coye Benson's Payments Views post about our co-founder's impact on the industry and on Glenbrook.
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Among other positions, we're looking for an East Coast engagement manger. Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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

November 01, 2016

Headline News from PaymentsNews.com - November 1, 2016

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

ON THE WEB

  • “I know Scott!" - Payments Views (Carol Coye Benson) - "Our co-founder, partner and friend, Scott Loftesness, is formally retiring from Glenbrook. I can’t begin to say how much I will miss him – as a colleague, as a mentor, and as an endless source of ideas and insights. "
  • Americans are finally about to get online banking features that Brazil has enjoyed for years - Quartz - "Previously repressed by US regulations, industry inertia, and American consumer wariness, digital banking is about to finally become commonplace thanks to the money-transfer service Zelle. Developed by a consortium of major banks using the banks’ existing customer account bases, Zelle hopes to compete against PayPal, Venmo, and Square Cash. While it may seem revolutionary to Americans, consumers in Brazil, Norway, Australia, and other countries have been casually using similar technologies for over a decade."
  • New York's bitcoin hub dreams fade with licensing backlog - Reuters - "New York's financial regulator had sights set on becoming a global hub for innovations like bitcoin when it adopted trailblazing virtual currency rules last year. But the state lost that momentum when the agency's chief left, putting a licensing process in limbo and allowing rivals to catch up."
  • Contis Group embeds with Faster Payments and direct debits - Finextra - "This banking plus Faster Payments and Direct Debit capabilities run on an exclusive Contis-developed banking platform, and as a result, differentiates itself from other providers by offering a one-stop solution. All facets of the payments platform for banking and card payments are totally owned by Contis and are plugged directly into the UK banking backbone via its full agency banking arrangement with NatWest and the Visa network."
  • Credit Card Giant MasterCard Releases 'Experimental' Blockchain APIs - Coindesk - "The credit card giant’s development site now features three APIs connected to its internal blockchain work, including offerings focused on smart contracts and payment settlement. The APIs were released by MasterCard Labs, its innovation outfit."
  • Google seeks to be one-stop app, embedding ordering capability - Mobile Commerce Daily - "The newest update for Google Maps may bring a significant boon to small restaurants and mobile ordering consumers through the inclusion of a “place an order” button in the application, letting users order food from a restaurant directly through the navigation application."

ON THE WIRES

  • State Bank of India Chooses NCR to Execute Country’s Single Largest ATM Order - "NCR Corporation (NYSE: NCR), a global leader in omni-channel solutions, today announced that State Bank of India (SBI), the country’s largest financial institution, has awarded NCR with the single largest order of ATMs in India. As part of this agreement, which is valued at more than $50 million USD to be executed over the next seven years, NCR will deploy 7,070 SelfServ™ 22e ATM’s, software solutions and provide services support to help SBI further expand its network in the country to reach its financial inclusion goals."
  • linked2pay Adds 'Pay by Text' to Bank Centric Payments - "Already a leading option for making transfers and settling up a tab among friends, our approach extends payments by text to a broader business usage. Ideal for invoicing or donation requests, a recipient of a text clicks to access their secure wallet to complete the transaction (by card or ACH) and receives an immediate receipt."
  • Shift4 Enables Merchants to Process EMV Chip Cards Through Global Payments - "hift4 Corporation, provider of the world's largest independent payment gateway, announced today it has certified for U.S. EMV with Global Payments. This certification enables merchants using Shift4's DOLLARS ON THE NET payment gateway to process chip-embedded credit and debit card payments through Global Payments with layered security as well as flexible payment processing options not available from competing payment service providers."
  • Law Enforcement In Connecticut - "Primark US Corp. ("Primark") discovered that payment card skimmers had been illegally placed on a limited number of card payment machines by persons unknown in the Danbury Fair Mall location. "Skimmers" are devices that criminals use to steal payment card data. Skimmers are typically about the size of a deck of cards, are placed over payment card readers, such as payment card terminals in retail stores, and are typically undetectable by the average user. The skimmer can capture magnetic stripe data as payment cards are swiped."

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

  • Scott Loftiness, a Glenbrook founding partner, formally retired October 31. Read Carol Coye Benson's Payments Views post about our co-founder's impact on the industry and on Glenbrook.
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Among other positions, we're looking for an East Coast engagement manger. Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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

October 31, 2016

Headline News from PaymentsNews.com - October 31, 2016

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

ON THE WEB

  • “I know Scott!" - Payments Views (Carol Coye Benson) - "Our co-founder, partner and friend, Scott Loftesness, is formally retiring from Glenbrook today. I can’t begin to say how much I will miss him – as a colleague, as a mentor, and as an endless source of ideas and insights. "
  • U.K. Startup Powa’s Failure Sparks Cross-Atlantic Spat - Wall Street Journal - "Now the fight over what went wrong at that smartphone-payment business, Powa Technologies, is turning public, providing a window into the sometimes-fraught relationship between entrepreneurs and investors when things sour."
  • Kohl’s Pay Update – Our Customers Love It! - Kohl’s blog - "It’s been just a few weeks since Kohl’s launched Kohl’s Pay, a mobile payment offering exclusively for our Kohl’s charge customers, and customer feedback has been extremely positive," said Ratnakar Lavu, Kohl’s chief technology officer. "
  • Algorithm Red Flags Potentially Dangerous Domain Names at Time of Purchase - WSJ CIO Journal - "Invented by five researchers at Princeton University and the University of California, the code works by scanning for 22 “features,” or red flags that are consistent with suspicious behavior. They include names that are registered in bulk by the hundreds, names that are variations of the same name, random-looking names, and names with numerical characters. "
  • This Anti-Fraud ATM System Won't Let You Use Your Phone - Bloomberg - "Elderly Japanese have been the target of so-called “it’s me” telephone call scams for years. Criminal groups call pretending to be a relative in need of funds or a medical professional or tax official demanding payment. The victims are often unfamiliar with how to use the ATM fund transfers, so criminals guide them through the transaction over the phone."
  • Goldman Says UnionPay Curbs Won’t Tame ‘Stealth’ China Outflows - Bloomberg - "Bloomberg News reported that credit and debit cards to buy insurance products in Hong Kong will be suspended other than for accident and medical coverage -- later confirmed by UnionPay. Chinese residents have been buying the insurance to skirt controls on how much capital they can move abroad, in some cases using multiple swiping of credit cards as a way of moving money overseas through the purchase of insurance policies."
  • Facebook Mobile Ad Revenues to Near $30 Billion Next Year - eMarketer - "Facebook is clearly getting closer to monetizing Messenger and WhatsApp,” said Williamson. “In August it made changes to WhatsApp’s privacy policy in preparation for allowing consumers to communicate more easily with businesses. And Messenger in September added buy buttons and native payments to the app."
  • America Isn’t Ready for a Cyberattack - Wall Street Journal - "The recent cyberattack that rendered more than 1,200 websites unreachable was a warning. Experts say a similar, or larger, attack could be launched tomorrow, and we’d be powerless to prevent it."

ON THE WIRES

  • System Innovators and ACCEO Solutions Inc. Release Semi-Integrated EMV Credit Card Payment Processing Solution for Government Agencies - "System Innovators (SI), a leading provider of centralized cashiering and enterprise revenue management (ERM), and ACCEO Solutions, a leader in payment solutions, have partnered to offer government clients an EMV-certified, semi-integrated point-of-sale (POS) middleware solution with end-to-end encryption (E2EE)."
  • WEX® and MyFlightSolutions™ Launch My Copilot™, an All-in-One Virtual Card Payment Solution - "Enabling operators to quickly and automatically reconcile a pilot’s trip expenses is groundbreaking for aviation businesses,” explained Jim Pratt, SVP, general manager, WEX Virtual Payments. Another benefit of My Copilot™ is the ability to automate the receipt tracking process so that users no longer need to manually keep track of unwieldy copies of receipts for approved expenses. “Simply put, this app means that pilots will ‘free up’ their wallets, which are usually chock-full of fuel credit cards,” notes Pratt. “Plus, aircraft operators no longer need to worry about losing track of cumbersome paper releases in order to buy fuel."

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

  • Scott Loftiness, a Glenbrook founding partner, formally retired October 31. Read Carol Coye Benson's Payments Views post about our co-founder's impact on the industry and on Glenbrook.
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Among other positions, we're looking for an East Coast engagement manger. Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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

October 28, 2016

Headline News from PaymentsNews.com - October 28, 2016

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

ON THE WEB

  • Mobile influences retailers’ shift to loyalty programs, forgetting traditional coupons - Mobile Commerce Daily - "After years of being a coupon-cutter’s dream, Bed, Bath & Beyond announced earlier this month that it would drop coupons in favor of a subscription loyalty-based system called Beyond+, which gives a permanent 20 percent discount."
  • YES Bank integrates ToneTag tech for sound-based payments - Finextra - "ToneTag utilises the in-built mic or speaker of any device to enable data transfer through soundwaves at merchant terminals which have integrated the technology. The SDK contains features such as patented noise filters, three levels of encryption, tokenisation, white box cryptography and multifactor authentication."
  • 3 ways retailers plan to protect customer data - Retail Customer Experience - "Interested in knowing how your data is being protected? Here are three ways retailers plan to protect customer data through 2017."
  • Dunkin’ Donuts To Enable Gifting Through Messages In IOS 10 - Point of Sale News - "Today Dunkin' Donuts becomes the first national coffee chain to enable gifting and payment within Messages in iOS 10. Dunkin' Donuts fans can now access the Dunkin' Mobile App through the App Store for iMessage to deliver mobile Dunkin' Donuts Cards to friends, family and colleagues as quickly and simply as sending an emoji."
  • IoT Device Maker Vows Product Recall, Legal Action Against Western Accusers - Krebs on Security - "A Chinese electronics firm pegged by experts as responsible for making many of the components leveraged in last week’s massive attack that disrupted Twitter and dozens of popular Web sites has vowed to recall some of its vulnerable products, even as it threatened legal action against this publication and others for allegedly tarnishing the company’s brand."
  • EU Issues Data-Protection Warning to WhatsApp, Yahoo - Wall Street Journal - "A European Union body representing national data-protection authorities from the bloc’s 28 states said it sent WhatsApp a letter expressing “serious concerns” about the messaging service’s new terms that allow it to share user information including phone numbers with its parent, Facebook. The regulators urged the company to pause the data sharing until “legal protections” could be assured."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

October 27, 2016

Headline News from PaymentsNews.com - October 27, 2016

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

ON THE WEB

  • Money20/20 Wrap-up - Glenbrook’s Payments Views (George Peabody) - "We’ve seen a lot of innovation in payment initiation over the last few years. Apple Pay, Android Pay, Walmart Pay and their like have filled Payments News headline stories. But this year, at Money20/20, consumer-facing innovation downshifted to a lower gear. And that’s a good thing."
  • More Pain at the Pump, But This Time for Gas-Station Operators - Bloomberg - "For gas stations, one demotivating factor is cost: About a third of the 750,000 pump dispensers are too old and would need to be replaced to accept chip cards, according to Gray Taylor, executive director of Conexxus, which looks at technology standards for the global convenience and petroleum retail market. The average price for a replacement unit: $17,000. And that’s on top of what a station might spend on new hardware and software for EMV point of sale. In all, gas stations and convenience stores would have to shell out more than $7 billion to replace or upgrade their machines to accept chip-cards, he said."
  • Wal-Mart, Target Invest in Store Pickup for Holidays - Wall Street Journal - "This holiday season one way traditional retailers hope to wrestle sales from Amazon.com Inc. is by making it easier for shoppers to buy items online and pick them up in stores. Retailers including Wal-Mart Stores Inc. and Target Corp. are investing heavily to smooth pain points that have kept store pickup in the shadows of home delivery, Amazon’s sweet spot."
  • Etsy adds Adyen as a new payment processor in wake of Worldpay outage - Tech Crunch - "And they say wild west justice is no more. Etsy, the online marketplace for handmade goods, has just reached a deal with Adyen, a global payments processor, to help run its payments backend for the over 1.7 million sellers on the site."
  • Mastercard unveils chatbot platform for merchants and banks along with wearable payments - Mobile Commerce Daily - "Mastercard is bringing Mastercard KAI to both merchants and banks Mastercard is taking two big steps forward when it comes to mobile integration thanks to a new chatbot system and a partnership that brings payments to wearable devices, signaling that the credit card company is committed to making multichannel retail more mobile."
  • HOW NORTH AMERICAN CONSUMERS RATE THEIR BANKING AND PAYMENT APPS - ARC from Applause - "The perfect attendance rating is an important milestone. Mobile is changing the way consumers bank. Fiserv’s recent survey of more than 3,000 U.S. adults ages 18 and older reveal that 40% use mobile banking today, and among millennials that number increases to more than 75%. In other words, mobile is the future of banking."
  • Investors Are Going Wild for a Digital Currency Called Zcash (And It's Not Even Out Yet) - Coindesk - "Unlike most digital currencies (which are clones of bitcoin or assets on the ethereum protocol) Zcash uses a wholly new protocol called Zerocash, which offers both anonymous digital coins called zerocoins and non-anonymous coins referred to as basecoins. Zerocash permits anonymous transactions by harnessing a kind of zero-knowledge proof called a zk-SNARK, which allows two parties to provide each other with verified information without revealing their identities in the process. This technology permits the creation of a secure blockchain that hides the sender, recipient and value of all transactions. Further, the information surrounding these transactions is only available to those holding a view key."
  • Now may be the time to dust off your credit cards - Boston Globe - "So far this year, banks have issued new credit cards at a rate unseen since before the 2008 financial crisis, which triggered an avalanche of bad debt. Revolving debt, primarily credit cards, has been climbing, nearing $975 billion in August, with analysts expecting it to reach a pre-crisis peak of more than $1 trillion by early next year."
  • CYBERSECURITY, UNSCRUPULOUS DINERS, AND INTERNET STEWARDSHIP - Stanford Law School blog - "To mitigate this existential risk of "cybersecurity free riders" to the continued health and growth of the Internet, I believe it is necessary to develop a theory of Internet Stewardship—a distributed, decentralized, cooperative model that incorporates a shared duty to establish, maintain, and follow basic cybersecurity standards. "

ON THE WIRES

  • FICO Enterprise Security Score Gives Long-Term View of Cyber Risk Exposure - "Analytic software firm FICO today launched the FICO® Enterprise Security Score, a metric that reveals the likelihood an organization will be breached due to a cyber attack. This score can be used by an enterprise to understand and shore up its defense gaps, and by third parties such as cyber insurance providers, potential partners and customers who need an objective measure of a firm's cyber risk."
  • Qualcomm to Acquire NXP - "Qualcomm Incorporated (NASDAQ: QCOM) and NXP Semiconductors N.V. (NASDAQ: NXPI) today announced a definitive agreement, unanimously approved by the boards of directors of both companies, under which Qualcomm will acquire NXP. Pursuant to the agreement, a subsidiary of Qualcomm will commence a tender offer to acquire all of the issued and outstanding common shares of NXP for $110.00 per share in cash, representing a total enterprise value of approximately $47 billion. "
  • Viewpost Electronic Invoicing and Payments Survey: The Gut Response to ‘the Check’s in the Mail’ - "The survey, fielded to nearly 3,000 U.S.-based businesses from September 29 to October 7, 2016, discovered electronic payments is the preferred method of payment by a majority of professionals (51.6 percent) and is close to replacing paper checks as the number one method of payment (paper at 37 percent versus electronic at 35 percent) for businesses—highlighting a migration that is helping to solve age-old problems with using antiquated payment solutions."
  • WEX Inc. and ExxonMobil Extend North American Fleet Card Contract for 10 More Years - "WEX Inc. (NYSE: WEX), a global provider of industry-leading corporate payments solutions, today announced a ten-year extension of its North American fleet card contract with Exxon Mobil Corporation (NYSE: XOM) and Imperial Oil, whose managing partner is Imperial Oil Limited (NYSE: IMO)."

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

October 26, 2016

Headline News from PaymentsNews.com - October 26, 2016

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

ON THE WEB

  • Facebook isn’t making money when you shop on Facebook — yet - Recode - "Facebook has tried a bunch of different ways to get people to shop on the site, but it’s never been Facebook’s strength. That hasn’t stopped the social giant from trying, though. Remember Facebook gifts? Or the company’s plan to push into buy buttons? Now Facebook has another new plan: Marketplace, a Craigslist-style product that lets people buy things from, or sell things to, other Facebook users."
  • Allstate’s faster mobile payment option capitalizes on mobile financial services’ popularity - Mobile Commerce Daily - "Allstate is revamping its digital payment method with QuickCard Pay, which takes over for its Fast Mobile e-Payment as its new focus for quick, mobile-ready payment options using the Mastercard Send system to help users pay their bills and receive payments on claims on any device."

ON THE WIRES

  • With U.S. Bank APConnector™, More Businesses Can Say "Yes!" to Virtual Pay - "By acting as a translator between the bank’s payment systems and an organization’s ERP software, APConnector makes the path to payment automation seamless and cost effective. It allows organizations to send payments electronically using secure virtual card accounts that provide enhanced remittance data as well as improved reconciliation. Paying corporate invoices electronically no longer requires a major commitment of information technology (IT) resources. Set-up time for launching a virtual card solution shrinks to as little as a few weeks, versus up to three months in a conventional set up."
  • Giesecke & Devrient Teams with Rittenhouse Payment Solutions for Event-based Wearable Solutions - "Extending its active participation in contactless-payment-enabled wearables, G&D is bringing a new wearable solution to the market with Rittenhouse Payment Solutions, a leader in the prepaid payments space who offers cutting-edge program solutions. The prepaid smart wristband can be used for payment and access in a variety of everyday environments."
  • First Data, Alipay Partner to Bring Popular Chinese Mobile Payment Option to U.S. - "First Data (NYSE: FDC), a global leader in commerce-enabling technology, today announced a new partnership with Alipay, one of the world’s leading online payment platforms, to bring the Alipay mobile payment solution to United States merchants. Beginning in November, Alipay will be available to Chinese consumers shopping at select retail locations in California and New York. Participating retailers at those locations will use First Data’s Clover Mini point-of-sale solution to accept Alipay."
  • Samsung Pay to Add Three New Countries, Online and in-App Payments, Location-Based Deals and More - "Samsung Electronics Co. Ltd. today announced Samsung Pay will add three new countries to the roadmap including Malaysia, Russia and Thailand, which will bring the convenience of the service to 10 countries by the end of 2016. Samsung Pay also announced a global partnership with Mastercard to offer a simplified online payment and express checkout solution through its digital payment service Masterpass, starting early next year. Hundreds of thousands of merchants in 33 countries currently accept Masterpass for online payments."

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

October 25, 2016

Headline News from PaymentsNews.com - October 25, 2016

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

ON THE WEB

  • Big U.S. Retail Bank Operations Under Scrutiny After Wells Scandal - Wall Street Journal - "The Office of the Comptroller of the Currency earlier this month sent formal letters to large and regional banks seeking information about sales practices and incentive-compensation structures following the Wells Fargo & Co. scandal, people familiar with the requests said."
  • Banks Challenge Venmo With New Payments Network Dubbed Zelle - Bloomberg - "Nineteen U.S. financial firms -- including titans such as JPMorgan Chase & Co., Bank of America Corp. and Wells Fargo & Co. as well as regional lenders and credit unions -- have signed up for a new real-time payments network dubbed Zelle. The venture, replacing an existing system called clearXchange next year, will be accessible to more than 76 million mobile banking customers when it starts, according to a statement Sunday from Early Warning, the bank-owned entity handling the project."
  • Visa's Blockchain Bet Opens Up to Developers - Fortune - "Anyone can now build on top of Chain’s network. Banks and financial firms have been tinkering for the past few years with the code that powers cryptocurrencies such as Bitcoin, with the intention of potentially overhauling their moldering infrastructure. Now they’re preparing to release their code into the wild. Chain, a two-year-old startup based in San Francisco, has decided to make its platform available to the public. The company is releasing an open source version of its Chain Core software to developers, any of who as of Monday can find the source code for its proprietary blockchain, or distributed ledger, on its webpage on Github, a code-sharing website."
  • A Plug-in From Synchrony Brings Store Cards to Retailers’ Shopping Apps - Digital Transactions News - "With consumers spending more and more time on retailers’ shopping apps, it was only a matter of time before merchants with proprietary charge card programs began offering a digitized version of those cards within their apps. On Monday, that time arrived as store card processor Synchrony Financial announced its Synchrony Plug-in, which allows client retailers to offer a digital version of the private-label plastic Synchrony issues on their behalf."
  • India’s largest data breach involving debit cards went undetected for 3 months - Mint - "Card data of 3.2 million customers was stolen between 25 May and 10 July from a network of Yes Bank Ltd ATMs managed by Hitachi Payment Services Pvt. Ltd, but it was only in September that banks and payments services providers became aware of the extent of the breach."

ON THE WIRES

  • Visa Opens Tokenization Services to Third Party Partners - "Today Visa (NYSE:V), announced it is accelerating the adoption of secure, digital payments by allowing third party partners to offer Visa Token Service (VTS). By expanding access to VTS to new partners – including technology companies, device manufacturers, issuers, Internet-of-Things (IoT) companies, wallet providers, merchants and others – Visa will be able to more quickly and easily offer secure digital payment services on any device to the market. Giesecke and Devrient, Gemalto and Inside Secure are the initial partners participating in Visa’s token service provider program to offer new expanded access to VTS."
  • Mastercard Partners with Fit Pay to Accelerate the Development of Payments-Enabled Devices and Wearables - "Mastercard today announced a partnership with Fit Pay, Inc. to bring Mastercard contactless payments to consumer wearables and Internet of Things (IoT) devices. By integrating the Fit Pay platform with the MasterCard Digital Enablement Service (MDES), the companies will work with Wearatec and other innovative manufacturers to bring to Mastercard cardholders a variety of secure contactless payments-enabled devices."
  • Mastercard Makes Commerce More Conversational with Launch of Chatbots for Banks and Merchants - "Today at Money 20/20, Mastercard announced its plans to launch artificial intelligence (AI) bots that allow consumers to transact, manage finances, and shop via messaging platforms."
  • BitPay Launches Secure Bitcoin Payments App, Targets New Bitcoin Adoption - "The BitPay app brings together BitPay's experience in merchant payments and BitPay's tools for consumer bitcoin payments into one place, opening up new possibilities for bitcoin adoption and use."

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

October 24, 2016

Headline News from PaymentsNews.com - October 24, 2016

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

ON THE WEB

  • Zelle p2p payments push to compete with Venmo now has 19 US FI backers - Tech Crunch - "The US finance industry is slowly getting its ducks in order to try to compete with the likes of PayPal-owned social payments platform Venmo. Today bank network operator Early Warning announced it has 19 US financial institutions signed up to a forthcoming payments network called Zelle, due to launch in early 2017. "
  • PayPal Gets Friendlier With Facebook - Wall Street Journal - "An integration with Facebook Inc., announced early Monday in a blog post by PayPal, will have the social network make the payments giant a way to pay across a broader range of new online shopping features. PayPal will also now make it possible to receive messages about any purchase, like a receipt, through Facebook’s Messenger chat service."
  • Android Pay partners with Visa and Mastercard to bring simple checkout to more places online - Google blog - "Android Pay users will soon be able to pay on hundreds of thousands of new sites where Visa Checkout or Masterpass are accepted using their preferred device authentication method - like fingerprint recognition. No longer will users have to remember multiple usernames and passwords in order to checkout, saving them time and hassle."
  • The restaurant table(t) is getting crowded - Tech Crunch - "Square deserves much credit for leading the way to software-based POS systems; however, Square initially was more about electronifying cash for micro merchants than a new central nervous system. Other companies like Toast, Revel, ShopKeep and Clover get more credit for focusing on the restaurant owner’s business needs — like menus, order routing and staffing — while embedding payments as a “mere” feature in their software."

ON THE WIRES

  • FIDO Alliance Announces New Authentication Specification Effort with EMVCo to Bring Added Security and Convenience to Mobile Payments - "The FIDO Alliance will develop a new technical specification into its FIDO authentication suite to fulfill use cases provided by EMVCo. The specification will provide a standard way for mobile wallet providers and payment application developers to support Consumer Device Cardholder Verification Method (CDCVM)1, enabling consumers to conveniently use on-device FIDO® Certified authenticators -- such as a fingerprint or "selfie" biometrics -- to securely verify their presence when making an in-store or in-app mobile payment."
  • CPI Card Group Introduces End-to-End Support for Open-Loop Digital Prepaid Cards - "CPI Card Group (Nasdaq:PMTS, TSX:PNT), a global leader in financial and EMV® chip card production and related services, today announced enhancements to its MYCA card ordering system that expand the gift card options available to program managers and financial institutions. CPI customers now have the ability to order and fulfill open-loop digital gift cards, which are delivered electronically through the MYCA platform and can be redeemed online."
  • Mastercard and BMO Make Fingerprint and ‘Selfie’ Payment Technology a Reality in North America - "Mastercard today announced the North American rollout Identity Check Mobile™, a new payment technology application that uses biometrics, including fingerprint and facial recognition, to verify a cardholder’s identity and simplify online shopping. BMO Financial Group (BMO) will be the first bank in the U.S. and Canada to offer Identity Check Mobile to its corporate customers starting in the first half of 2017."
  • Fifth Third Bank To Offer Real-Time Person-to-Person Payments - "Fifth Third Bank announced today that it will join Early Warning’s Zelle Network to offer customers a safe and fast way to make person-to-person (P2P) payments. With Zelle, money can be sent by simply using the recipient’s mobile number or email address. Fifth Third customers will have access to real-time payments with Zelle in 2017."
  • Verifone Introduces Advanced Commerce Capabilities & Fast Checkout in the Palm of Your Hand - Hello Experience! - "A part of the fully-integrated, Linux-based Verifone Engage family, the V400m is a result of the strategy at Verifone to offer new value at the POS by increasing loyalty and revenue opportunities for merchants and improving the consumer experience with real-time personalization wherever transactions are taking place. Whether it’s pay-at-the-table, curbside, or line-busting, its portability makes it an ideal solution for a variety of business scenarios."
  • Ingenico Group Launches First-of-Its-Kind Enterprise-Class mPOS Solution - "Ingenico Group, the global leader in seamless payment, today announced the launch of the iSMP4 Companion, a groundbreaking enterprise-class mobile point of sale (mPOS) device. Featuring the largest screen and battery capacity in its class, the lightweight iSMP4 makes it easy to accept all forms of payments – including EMV chip & PIN and chip & sign, magstripe and NFC/contactless – anywhere, anytime a merchant and consumer interaction may take place."

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

October 21, 2016

Headline News from PaymentsNews.com - October 21, 2016

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

ON THE WEB

  • Visa tells Europe to be ready for 3-D Secure 2.0 by April 2018 - Finextra - "As EMVCo prepares to unveil a major update to the 3-D Secure specification for authenticating online transactions, Visa says that it expects to set a migration deadline for European merchants of April 2018."
  • PayPal’s $100 billion mobile payment milestone makes it eBay divorce winner - diginomica - "Over a year after its divorce from eBay, PayPal is looking at a significant milestone – over $100 billion mobile payments processed in the coming year. To put that into context, the firm has done $200 billion in volume across the whole of the last ten years."
  • PayPal ramps up mobile payments business - Tech Crunch - "PayPal reported third quarter earnings after the bell on Thursday. The global payments company reported an 18% increase in revenue at $2.67 billion, when analysts were expecting $2.65 billion. Adjusted earnings per share stood at 35 cents, in line with Wall Street expectations."
  • China Pushes for Blockchain Cooperation With New Research Report - Coindesk - "“[We] hope that all sectors work together to actively grasp the blockchain development trends and regulations...to create a favorable environment for development [and] accelerate the promotion of China's blockchain technology and industrial development.”"
  • Error Message: Addressing Issues with Dual Interface #Transaction Declines - TMG - "At this point, TMG and its processing partner First Data believe this is only impacting Visa-branded cards at Verifone terminals. Depending on the merchant’s point-of-sale (POS) terminal, there could be a couple of different issues at play."
  • Facebook Pages converts into purchasing platform, but further threatens big business - Mobile Commerce Daily - "The main features include new ways for customers to order, purchase or research purchases from a business directly through the Facebook app. For businesses of all sizes, the ubiquitous popularity of Facebook means that these new features will make interactions between brands and consumers on both ends a bit simpler."

ON THE WIRES

  • Visa Direct Expands Its Reach With Real-Time, Card-Based P2P and Funds Disbursements Services - "Today Visa (NYSE:V) announced that Visa Direct continues to gain momentum as a faster payments solution through key partnerships with FIS and Jack Henry & Associates, Inc. (NASDAQ: JKHY) for person-to-person (P2P) payments, and Stripe, Hyperwallet and Ingo Money for faster business and government disbursements."
  • Visa Introduces International B2B Payment Solution Built on Chain’s Blockchain Technology - "Visa is working with Chain to build Visa B2B Connect using Chain Core, an enterprise blockchain infrastructure that facilitates financial transactions on scalable, private blockchain networks. Building on this technology, Visa is developing a new near real-time transaction system designed for the exchange of high-value international payments between participating banks on behalf of their corporate clients. Managed by Visa end-to-end, Visa B2B Connect will facilitate a consistent process to manage settlement through Visa’s standard practices."
  • Bank of America Merrill Lynch and Modo Announce Strategic Relationship - "Bank of America Merrill Lynch, a global leader in transaction services, and ModoPayments, LLC (Modo), an industry leader in digital payments innovation, today announced a strategic relationship that will give the bank access to Modo’s patented COIN® Operated Digital Payments Hub. Through the hub, Bank of America Merrill Lynch clients will have the ability to connect with multiple emerging payment networks. Furthermore, the new global capabilities can extend the reach of the bank’s existing digital business-to-consumer offering, Digital Disbursements."
  • ETA Releases Guidance to Payment Facilitators with Voluntary Industry Best Practices - "The Electronic Transactions Association (ETA), the global trade association representing the payments technology world, released new Payment Facilitator Guidelines offering guidance and practices to these new entrants regarding settlement, registration, funding delays, fraud, security, and related issues. Authored by Double Diamond Group on behalf of ETA, these new guidelines will help promote the growth of the Payment Facilitators segment as it brings new technology companies into the payments industry. The Payment Facilitator Guidelines will be the cornerstone of benefits for companies that join ETA, the trade association of the payments industry."
  • Vantiv First to Offer Verifone Carbon with Commerce Platform - "To help SMBs keep pace and win in the face of this transformation, Verifone (NYSE: PAY) and Vantiv, Inc. (NYSE: VNTV) today announced an agreement to bring the Verifone Carbon Commerce Platform to market in the United States as a key feature of the Vantiv SmartFit Solutions™."
  • Shift4 and Mi9 Retail Announce Joint EMV Solution for Retailers - "Shift4 Corporation, provider of the DOLLARS ON THE NET payment gateway, and Mi9 Retail, a premier provider of merchandise management, store operations, customer engagement, and e-commerce software, today announced the general availability of their joint EMV-certified solution for retailers."

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

October 20, 2016

Headline News from PaymentsNews.com - October 20, 2016

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

ON THE WEB

  • 7-Eleven, McDonald’s, Circle K ... Google launches Android Pay at 5,000 Hong Kong locations - South China Morning Post - "Google has launched its mobile payments system Android Pay in Hong Kong, allowing Android users to make contactless payments in-store as it pits itself against Apple Pay and Tencent’s WeChat Wallet in the city. Smartphone users whose handsets are enabled with near-field communication (NFC) technology and runs KitKat 4.4 or higher will be able to download the Android Pay app and pay for purchases at over 5,000 locations in Hong Kong, according to the company."
  • Social payments app Circle adds two more European markets - Tech Crunch - "Circle has lit up two more European markets as it works to rapidly build out its presence in the region. Users of the P2P payments app in Spain and Ireland can now connect any Spanish or Irish bank account to the app to send and receive money within their own countries and across borders (with native Euro support in those markets)."
  • Mobile Wallets Are the New Loyalty Program - Bloomberg - "By absorbing the functions of loyalty cards, mobile wallets can beat credit and debit cards for convenience. Launched in October, Kohl’s Pay lets users redeem Kohl’s Cash and coupons, accrue rewards, and pay with the retailer’s branded Charge Card—in one step. Starbucks’s wallet lets customers earn free drinks and order and pay ahead; it makes up about 25 percent of the chain’s U.S. transactions."
  • Mobile payments on the rise, but still have far to go - San Francisco Chronicle - "As more retailers accept mobile payments, the options are growing. As of December, there were more than 2,000 payment-related startups, according to a report by research firm Forrester. But only a few apps will emerge victorious. So far, the three mobile payments with the most customer awareness are: PayPal (88 percent); Apple Pay (74 percent) and Amazon (61 percent), according to First Annapolis."
  • Mobile Payments More Secure Than People Think - Htet Tayza blog - "New research conducted by NTT DATA indicates that consumer fears are impeding the adoption of mobile payment technology worldwide. Of 2,000 consumers polled globally, over half expressed the belief that cash is more secure than mobile payments. In contrast of the 300 company executives questioned, 60% said that mobile payments will help them build their firms, because they are secure."
  • DocuSign partners with major payment providers to offer pay at signing - Tech Crunch - "The payment works in a similar fashion to adding a signature line. You drag your signature line from DocuSign into your document, then you drag a payment line along with it if required. You fill in the payment amount and send the document to the recipient."
  • Wal-Mart Turns To Blockchain For Tracking Pork In China - Wall Street Journal - "Identification details about each party handling the pork, as well as other data about transactions between parties, would be recorded on a blockchain system built on IBM’s version of the open-source Hyperledger platform. Blockchain data is immutable, which “reduces the opportunity for fraud or any inaccuracy,” Mr. Chang said."

ON THE WIRES

  • 100 million Africans will be impacted across 33 markets by Masterpass QR - "Masterpass QR is the first mobile-driven, Person-to-Merchant (P2M) payment solution. The solution is an enhancement to the Masterpass global digital payment service that will enable millions of micro, small and medium enterprises across Africa to begin accepting fast and secure digital payments. This service addresses the challenges of expensive infrastructural issues associated with point of sale devices and eliminates the need for cash."
  • R3 Trials Interbank Cross-Border Payments With Ripple’s Digital Asset XRP - "Financial innovation company R3 and twelve of its consortium member banks have trialed Ripple’s distributed financial technology and the potential for its digital asset to scale liquidity and reduce the costs and inefficiencies of interbank cross-border payments."
  • Consumers Willing to Take Additional Security Steps to Prevent Online Fraud as E-Commerce Grows, Finds New American Express Survey - "The report, which surveyed 1,021 U.S. consumers and 401 merchants, reveals that as ecommerce grows, payment security remains top of mind for both. Nearly half (48%) of consumers who shopped online in the past year have experienced payment fraud, representing nearly 80 million online consumers. Four in 10 consumers (40%) view online shopping as having more risk than an in-store purchase (28%). In addition, 42% of shoppers say that they have abandoned an online purchase due to payment security concerns. This increases to 48% for Gen X and 50% for Millennials, suggesting that while younger consumers are considered early adopters of new technology, they also place a high priority on the security of their information."
  • CVS Pharmacy Takes CVS Pay Nationwide Following Successful Pilot - "CVS Health (NYSE: CVS) today announced the national rollout of CVS Pay™, an end-to-end mobile payment solution at CVS Pharmacy. CVS Pay is now part of the CVS Pharmacy® mobile app, and integrates payment, prescription pickup and the ExtraCare® loyalty program all into one quick scan at checkout. CVS Pay is an example of the company's larger commitment to developing digital tools that simplify the customer experience, making it easier for consumers everywhere to better manage their health."

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

October 19, 2016

Headline News from PaymentsNews.com - October 19, 2016

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

ON THE WEB

  • Regulators to Toughen Cybersecurity Standards at Nation’s Biggest Banks - Wall Street Journal - "The proposed standards would require financial firms to develop and maintain a cyberrisk management plan approved by their boards and incorporated into their business strategies. It would also require banks to use the cyberrisk management strategies in their business units and incorporate them into company audits. Under the proposal, institutions would also be required to establish and implement a plan that would allow them to continue to perform core business functions during a cyberattack."
  • Facebook embraces utility with food ordering and ticketing - Tech Crunch - "The more Facebook can become a place where you learn about and interact with businesses, the more it can accomplish its goal of connecting you with more than just people, and the more likely that businesses will pay to grow their visibility on the social network."
  • Mobile banking to grow to 2B users by 2020: report - Mobile Commerce Daily - "Mobile banking users are set to reach 2 billion by 2020, according to a new report from Juniper Research, suggesting that banks are placing as much effort on digital marketing and tools as traditional brands."
  • Mobile payments awareness up in North America, but usage remains flat - NFC World - "Nearly six in 10 North American consumers (56%) are now aware of mobile payment services — a 4% increase from this time last year, research from Accenture has revealed. However, the regular use of mobile payments remains flat at 19%, with 60% of consumers using cash at least weekly to make purchases at a merchant location."
  • Supporting New Mastercard 2-series BINs - Braintree blog - "Mastercard is introducing a new 2-series to their Bank Identification Numbers (BINs). A BIN refers to the first 6 digits of a credit card number and can be used to identify the card issuing institution. Up until now, Mastercard BINs have only been in the 5-series range, which begin with a 5."

ON THE WIRES

  • Citi Ventures Makes Strategic Investment in Feedzai, Provider of Data-Driven AI Fraud Prevention Technology - "Feedzai, a leading data science company shaping the future of fraud detection in commerce, today announced the close of a strategic investment from Citi Ventures, which accelerates innovation and growth at Citi. This investment will enable Feedzai to continue to expand its offerings to commerce and banking systems in new geographies."
  • Rambus Bell ID Simplifies Tokenization Management for Banks - "In response to the increasing complexity and fragmentation of the near field communication (NFC) mobile payments ecosystem, Rambus Bell ID – part of the Rambus Security Division – has launched Token Gateway. Issuing banks can now manage tokenization activity for the ‘OEM Pay’ mobile wallets through a single software platform. This significantly simplifies and consolidates integration with the multiple token service providers (TSPs) operated by third parties, like international and domestic payment schemes."
  • Newly Launched Travel Innovation Hub from CellPoint Mobile Will Develop Blockchain Applications for Travel-Sector Payments and Services - "Potential products will include a unified and secure passenger ID created from existing verified data (e.g., passports, visas, IDA, licenses, company and payment data, airline and travel records, loyalty program memberships and more); loyalty products that use blockchain processes to streamline and protect earn-redeem transactions in airline and travel loyalty programs; and payment products that integrate blockchain authentication, digital wallet blockchain payment processors and other services directly from CellPoint Mobile's payment orchestration layer. "
  • SecureKey Completes $27 Million Strategic Investment Round - "SecureKey Technologies Inc., a leading provider of identity and authentication solutions, today announced that it has raised $27 million CAD in growth capital to fund the commercial rollout of a privacy-enhancing digital identity network. Teaming up with SecureKey on this initiative and participating in the funding round are leading financial institutions: BMO Bank of Montreal, Bank of Nova Scotia, CIBC, Desjardins, Royal Bank of Canada and TD."
  • 40% Of Millennials Upgrade Their Wearable Device Every 6-12 Months - "Many millennials tend to replace their wearable devices, even if they’re still working. Four in 10 (40%) millennials replace their wearable every six months to a year, based on a new global study."
  • Drive Traffic, Speed Mobile Payments with FIS BuyWay - "BuyWay acts as a single point of integration, engaging secure, cloud-based technology that connects apps on a consumer’s digital device or car to a merchant’s point-of-sale (POS) system – eliminating the need for retailers to purchase new hardware. It adds payment functionality to merchant apps, speeds up purchases by eliminating physical contact with the POS and increases security because no card data is passed through the POS. As a single point of integration, it also simplifies deployment and opens new sales opportunities. Importantly, it can be integrated into loyalty rewards programs, allowing instant rewards that drive customer loyalty and complete the customer purchase journey."
  • Fifth Third Bank Launches Comprehensive Electronic Card Payables Solution for Commercial Clients - "As a leader in commercial payments, Fifth Third Bank (NASDAQ: FITB) has launched Fifth Third ePay, an upgraded electronic accounts payable (EAP) solution for commercial card clients using virtual card numbers for payment. Fifth Third ePay enables clients to take advantage of electronic accounts payables and meets evolving client needs. Fifth Third ePay provides clients with multiple options for supplier payments, visibility into account and payment status, and program controls for fraud and risk mitigation."
  • Thales Survey reveals 88% would stop using digital payments if breached - ""It's easy to see why mobile payments continue to grow in popularity – they are fast and convenient," said Jose Diaz, director of payment strategy at Thales e-Security. "But results of the survey showed that people have strong doubts about their safety, especially while traveling. The mobile payments industry needs to take note that their future success is based on trust. And that trust can easily fail if they do not provide the strong protection of their infrastructure, transactions and data that customers expect.""

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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