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

June 23, 2017

Headline News from PaymentsNews.com - June 23, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

June 22, 2017

Headline News from PaymentsNews.com - June 22, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

June 21, 2017

Headline News from PaymentsNews.com - June 21, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

June 20, 2017

Headline News from PaymentsNews.com - June 20, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

June 19, 2017

Headline News from PaymentsNews.com - June 19, 2017

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

ON THE WEB

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

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

June 16, 2017

Headline News from PaymentsNews.com - June 16, 2017

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

ON THE WEB

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

June 15, 2017

Headline News from PaymentsNews.com - June 15, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

June 14, 2017

Headline News from PaymentsNews.com - June 14, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

June 13, 2017

Headline News from PaymentsNews.com - June 13, 2017

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

ON THE WEB

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

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

June 12, 2017

Headline News from PaymentsNews.com - June 12, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

June 09, 2017

Headline News from PaymentsNews.com - June 9, 2017

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

ON THE WEB

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

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

June 08, 2017

Headline News from PaymentsNews.com - June 8, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

June 07, 2017

Headline News from PaymentsNews.com - June 7, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

June 06, 2017

Headline News from PaymentsNews.com - June 6, 2017

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

ON THE WEB

  • In Cashless Sweden, Even God Now Takes Collection Via an App - Bloomberg - "A growing number of Swedish parishes have started taking donations via mobile apps. Uppsala’s 13th-century cathedral also accepts credit cards. The churches’ drive to keep up with the times is the latest sign of Sweden’s rapid shift to a world without notes and coins. Most of the country’s bank branches have stopped handling cash; some shops and museums now only accept plastic; and even Stockholm’s homeless have started accepting cards as payment for their magazine. Go to a flea market, and the seller is more likely to ask to be paid via Sweden’s popular Swish app than with cash."
  • EMV Accounts for More Than Half of Major-Brand U.S. Cards, New EMVCo Figures Show - Digital Transactions News - "The U.S. transition to the EMV chip card standard has been a long and troubled road, but statistics released by the international standards body behind EMV indicate encouraging progress. As of the end of 2016, 52.2% of major-brand payment cards in the United States—some 675 million cards—were chip-enabled, double the rate a year earlier, when the EMV card count was 394 million, according to EMVCo."
  • Bitcoin Price Shoots Past $2,900 to Hit New All-Time High - Coindesk - "The price of bitcoin has hit a new all-time high, according to the CoinDesk Bitcoin Price Index (BPI). The market average has risen to as high as $2,911.86 as of press time, BPI data shows, surpassing the previous all-time high of $2,791.69 set on 25th May."
  • WeChat Pay, Alipay North American expansion presents golden opportunity for retailers - Luxury Daily - "With Chinese travelers being one of the most valuable customer bases for luxury goods, negotiations are underway to make mobile payment solutions WeChat Pay and Alipay acceptable in North America. The move comes at the behest of Citcon, a cross-border commerce company, China Luxury Advisors and The Momentum Group, a marketing agency that works with WeChat. Together, the three are hoping that Chinese travelers will soon be able to use WeChat Pay and Alipay while abroad in the United States, easing the purchase of international luxury goods."
  • Apple Pay is suddenly a threat to PayPal and Square - VentureBeat - "Apple is introducing the P2P payments feature into iMessage, so users can more easily send money to friends they are messaging with. During a chat, for example, machine learning technology will detect a mention of payments and include an Apple Pay button on the keyboard."
  • AmEx Outduels Citigroup for Exclusive Rights to Hilton Cards - Bloomberg - "American Express Co. has struck back against Citigroup Inc., winning exclusive rights to issue credit cards for Hilton Worldwide Holdings Inc. and ending an agreement in which the two banks shared the business."

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

June 05, 2017

Headline News from PaymentsNews.com - June 5, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

June 02, 2017

Headline News from PaymentsNews.com - June 2, 2017

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

ON THE WEB

  • Interoperability Boost: Ripple Sends Blockchain Transaction Across 7 Ledgers - Coindesk - "Co-inventor of the ILP and managing director of Ripple’s Luxembourg office, Evan Schwartz, positions the demonstration as part of a bigger-picture push to show blockchain interoperability has moved past being just a good idea. "What this shows is that with this kind of architecture that Interledger has, it’s not just about integrating two ledgers, it’s about doing this across many types of ledgers," Schwartz said."
  • Android Pay says “Nǐ Hǎo” to Taiwan - Google blog - "Whether you’re heading out for dinner or doing your weekly shopping, your Android phone is all you need to bring with you when you walk out the door. Starting now, Android Pay is available in Taiwan."
  • LG Pay launches in South Korea - ZDNet - "LG Electronics has launched its namesake mobile payment service in its home country, the company announced. LG Pay will be available on the firm's latest flagship phone, the G6, in South Korea via a software upgrade. It will later be made available on LG's other phones. The service works like a credit card and allows the smartphone to be used on magnetic readers, LG said."
  • How Panera Solved Its ‘Mosh Pit’ Problem - Wall Street Journal (Paywall) - "Today, online orders make up more than a quarter of its company-owned restaurant sales, and the average time customers spend waiting in line to order food has shrunk to one minute. Panera is widely cited by analysts as one of the most technologically savvy, best-performing chains in the industry."

ON THE WIRES

  • Flywire Acquires UK-based PACE Invoice - " Flywire, a leading provider of international payment solutions, today announced that it has acquired PACE Invoice, a multi-currency invoicing platform provider based in London. With the acquisition, Flywire adds international invoicing to its cross-border payments and receivables services, enabling its business, education and healthcare clients to more easily link invoices to cross-border receivables, saving time and costs in invoice preparation and payment reconciliation."
  • Alliance Data's Clienteling App, Notable, Strengthens Retailers' Ability To Personalize Service And Increase Sales - "Alliance Data's card services business, an Alliance Data company (NYSE: ADS) and a premier provider of branded credit programs to many of the world's most recognizable brands, today introduced its clienteling app, Notable(SM), to help retailers build deeper relationships with customers and increase top-line sales by putting customer preferences and past purchase behavior at the fingertips of store associates. Utilizing Alliance Data's advanced analytics capabilities, Notable allows sales associates to create meaningful, personalized interactions with customers by quickly accessing transaction history, past consultations, purchase histories, loyalty levels, product preferences and customer wish lists."
  • Quisk Begins Deployment of Blockchain Technology - "Quisk, Inc., headquartered in Silicon Valley and provider of a secure digitized cash payment network for banks and financial institutions around the world, announced today that it will begin incorporating Blockchain technology into its platform. Quisk will store all transaction ledgers on a Quisk Blockchain accessible by its banking customers. These banks will be able to seamlessly access transaction details from their backend operations, including merchant settlement and core banking reconciliation."

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

June 01, 2017

Headline News from PaymentsNews.com - June 1, 2017

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

ON THE WEB

  • Mary Meeker’s Internet Trends 2017 deck - Kleiner Perkins - Her much anticipated annual review of internet technology trends.
  • Visa upgrades Verified by Visa service - IBS Intelligence - "Visa has announced an upgrade to its Verified by Visa service, a solution aimed at heightening security in purchases. The enhancement will gather and send data to FIs to reduce fraud on transactions made via a mobile or browser. Visa is also moving to support 3-D Secure 2.0, a security platform pioneered by Visa and underpinning the Verified by Visa Service. 3-D Secure 2.0 allows to customise the authentication process and ensure the process is easy, in real-time and accurate. Reports show an 85% reduction in checkout time as a result, alongside reducing step-up verification, such as PIN codes."
  • Stripe launches Sigma, a new analytics tool to help businesses track payments data - TechCrunch - "Sigma is a fully customizable SQL tool that will be available as part of all Stripe accounts. The idea behind it is to eliminate the need for Stripe customers to build their own data analytics tooling. That would usually mean building a data pipeline and data warehouse where users would pull information from Stripe before analyzing it."
  • Line Pay hits 30M users in Japan - Mobile World Live - "Line revealed almost half of its chat app users in its domestic market of Japan signed up to use its payments app, bringing the number of registered users for Line Pay to 30 million."
  • Microsoft thinks blockchain tech could solve one of the internet’s toughest problems: digital identities - Quartz - "The problem of digital identity on the internet has attracted a motley crew of computer scientists, big banks, and industrial conglomerates, bound by a shared belief that the ideas behind bitcoin could solve one of the online world’s trickiest problems. For many in the space, there is also a sense that blockchain tech could be the internet’s missing link. “We got many things wrong in the early days of the web,” says Behlendorf, who developed the open-source Apache server, which powers most of the web today. “This is a chance to get it right.”"
  • First Data’s New Fraud-Detection Tool Features Real-Time Algorithm Updating - Digital Transactions News - "Announced Thursday, Fraud Detect uses artificial intelligence and machine learning, fraud scoring, cybersecurity intelligence, and information gleaned from the Dark Web, where much of the criminal sale of stolen data takes place, to identify potentially fraudulent transactions. Atlanta-based First Data says the service works with transactions in-store, at the pump, online, on mobile, and in-app."
  • B2B Fintech Investment On The Rise - Forbes - "Long overshadowed by their consumer counterparts, B2B payment firms are seeing greater interest from venture capital, private equity and strategic investors. Their target: financing solutions for both buyers and suppliers, as well as software tools that automate management of accounts receivable and accounts payable."
  • Android Pay begins its rollout across Canada - NFC World - "Android Pay has begun rolling out across Canada with support for eligible Visa and Mastercard credit cards from BMO Bank of Montreal, CIBC, Banque Nationale, Scotiabank, Desjardins, President’s Choice Financial, ATB Financial and Canadian Tire Financial Services as well as prepaid Scotiabank and Desjardins cards. Support for Interac debit cards will begin rolling out on June 5, while support for American Express cards and Tangerine is expected “later this summer”."
  • Bank account number portability can be reality soon: RBI - Moneycontrol - "With increase in Aadhaar enrollment and technology advancements, banks and stakeholders must start thinking and prepare for bank account number portability to be made into reality, said the Reserve Bank of India on Tuesday."
  • Poll: 94 million Americans store their card information online - CreditCards.com - "Two out of every three online shoppers have their card information stored on at least one website or mobile app for future purchases, the poll found. And about 10 percent say they always save their card information online, no matter where they’re shopping. If you extrapolate that out across the population, that means 94 million Americans let retailers store their credit or debit card data, and 14 million always do so."
  • 2017 PACE REPORT - FIS - "The 2017 PACE Report provides meaningful, actionable insights for becoming and remaining your customers' first choice in financial institutions."
  • How Digitizing Agricultural Input Payments in Rural Kenya Is Tackling Poverty: The Case of One Acre Fund - Finextra Caselet - "Since 2014, OAF has enabled farmers in Kenya to make loan repayments digitally using the mobile money service M-Pesa instead of in cash, increasing economic opportunity and financial inclusion in some of the world’s poorest farming communities."
  • Credit Card Breach at Kmart Stores. Again. - Krebs on Security - "Last week I began hearing from smaller banks and credit unions who said they strongly suspected another card breach at Kmart. Some of those institutions received alerts from the credit card companies about batches of stolen cards that all had one thing in common: They were all used at Kmart locations."

ON THE WIRES

  • China UnionPay rolls out QR payment solution - "Users can log onto the apps of any participating bank and make payments via a QR code, similar to ways offered by popular third-party payment services Alipay and WeChat, which now cover more than 90 percent of the QR payment market, the paper said."

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

May 31, 2017

Headline News from PaymentsNews.com - May 31, 2017

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

ON THE WEB

  • Mobile Wallet Paytm Hits Pay Dirt Amid India’s Cash Crackdown - Wall Street Journal (Paywall) - "India’s second-most-valuable startup, the mobile-payments app Paytm, has a new target after proving itself more popular than credit cards. “We’re competing with cash,” said Madhur Deora, Paytm’s chief financial officer. “In India, we’re not competing with cards.”"
  • Banks And Non-Banks Play to Their Strengths As They Eye a $1.2 Trillion P2P Market - Digital Transactions News - "The P2P payments arena is hotly contested, with bank providers such as JPMorgan Chase & Co., Capital One, USAA, and Bank of America—all participants in Zelle, a soon-to-be-launched P2P service—contending for adoption with entities such as PayPal Holdings Inc.’s Venmo, Square Cash, and Facebook Messenger. Popmoney, a P2P service from Fiserv Inc., also is popular with banks."
  • Ten Year Futures - Benedict Evans blog - "Now that mobile is maturing and its growth is slowing, everyone in tech turns to thinking about what the Next Big Thing will be. It's easy to say that 'machine learning is the new mobile' (and everyone does), but there are other things going on too. "
  • Why the Chinese Will Pay for Content That Americans Won't - Bloomberg - "Back in early 2016, Li Xiang was just another overworked magazine editor in Beijing. Then along came an opportunity to produce a business newsletter on a brand-new app called De Dao. In just a few months that app—which means “I Get” in English—had attracted millions of users looking for daily advice and to learn everything from music to economics. And Li? Within months, he had close to 100,000 subscribers paying about $30 a year—which works out to almost $3 million in annual revenue. "
  • Blockchain.info Wallet Recommends a US$26 Bitcoin Transaction Fee Instead of A Normal Amount - NewsBTC - "While paying a higher Bitcoin transaction fee has become somewhat of the norm, things are not improving. Instead, it appears the fees are only getting worse as more time progresses. Anything over US$1 in fees is considered expensive in the cryptocurrency world. Things only get worse when a wallet recommends paying US$26 or more to transfer bitcoins. That is an outrageous amount of money, to say the least."

ON THE WIRES

  • Carnival Corporation to Offer Alipay Payment Services Onboard its Fleet in Asia - "Carnival Corporation & plc,, the world's largest leisure travel company, today announced it has signed an agreement to offer Alipay payment services onboard its cruise ship fleet in Asia, including multiple ships in China. The partnership will enable Chinese guests sailing with Carnival Corporation's brands in Asia to pay for onboard products and services using the convenience of Alipay, China's most popular mobile payment and lifestyle platform operated by Ant Financial Services Group, a related company of Alibaba, the largest online commerce company in China."
  • Zain signs MoU with Mastercard to boost digital payment services in Jordan - "Zain has signed a strategic partnership agreement with Mastercard, a leading technology company in the global payments industry, to boost digital payment services in Jordan through ‘Zain Cash’ mobile wallet service powered by Mastercard."
  • Discover Enhances Customer Service with In-App Messaging - "Discover announced today the launch of messaging, a customer service option that allows customers to communicate with Discover’s customer service agents without having to stop and restart numerous interactions. The new feature, which will be rolled out in phases, enables customers to message Discover’s customer service representatives via the Discover mobile app."
  • Crédit Agricole adds HCE mobile payments in France through Dejamobile - NFC World - "Customers of French bank Crédit Agricole can now make host card emulation (HCE) based mobile payments using a new version of the bank’s mobile app ‘Ma Carte’ and Paylib, an online payment acceptance brand supported by France’s main banks."
  • PayRange Takes the "Coin" out of Coin Laundry - "PayRange Inc., maker of the world's simplest mobile payment solution for machines, announced it is available for commercial laundry. Laundromats are synonymously known as "coin laundry" due to their reliance on coins to operate. In a mature 80-year old industry, mobile payment innovation brings the commercial washers and dryers into the digital age aligning with today's consumers. The innovative solution allows operators to upgrade existing machines in two minutes to accept payment via a smart phone."

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

May 30, 2017

Headline News from PaymentsNews.com - May 30, 2017

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

Have a great Memorial Day weekend!

ON THE WEB

  • The rise of the QR code and how it has forever changed China’s social habits - South China Morning Post - "It’s being used to encourage tipping at restaurants, receive cash gifts at weddings...even beggars are using it to collect handouts. The little barcode is driving China’s rapid shift towards a cashless society"
  • Turkish banks debut national payment scheme for consumers - Finextra - "Turkey at the crossroads of Europe and Asia has a banking sector that defies expectations. It has grown at an annual compound rate of 20 per cent over the past 15 years in terms of asset size. In this growing and dynamic market, payments have been one of the major drivers of growth and innovation."
  • India’s Demonetization: Will Mobile Payments Curb ‘Financial Terrorism’? - Barron's - "As Prime Minister Narendra Modi celebrates three years in office, a government report is giving his anti-cash demonetization effort high praise."
  • Payment Delays Soar as EU’s Small Businesses Offer Reality Check - Bloomberg - "The survey suggests Europe isn’t living up to its goal of protecting smaller companies from the liquidity issues they face when payment doesn’t arrive. In adopting the Late Payment Directive in 2011, the EU said Europe’s whole economy is “negatively affected by late payment” and that “for Europe’s valued SMEs, any disruption to cash flow can mean the difference between solvency and bankruptcy.”"
  • Blockchains are the new Linux, not the new Internet - TechCrunch - "Cryptocurrencies are booming beyond belief. Bitcoin is up sevenfold, to $2,500, in the last year. Three weeks ago the redoubtable Vinay Gupta, who led Ethereum’s initial release, published an essay entitled “What Does Ether At $100 Mean?” Since then it has doubled. Too many altcoins to name have skyrocketed in value along with the Big Two. ICOs are raking in money hand over fist over bicep. What the hell is going on?"
  • Thoughts on Tokens - Medium - "While indisputably frothy, as of this writing the token sector sits at a combined market cap in the tens of billions. These new “fat protocols” may eventually create and capture more value than the last generation of Internet companies."
  • Centili subscription-based direct carrier billing live in Indonesia - Mobile Payments Today - "Centili said its technology for recurring payments improves the user experience and adds advanced features such as downscale and split billing that optimize revenue and lifts user lifetime value, according to the announcement."
  • Chipotle Removes Malware After Breach Strikes Payment Systems - Bloomberg - "Chipotle Mexican Grill Inc., which warned investors and customers last month that it had suffered a data breach, gave the all-clear on Friday, saying it had removed malicious software from its systems."

ON THE WIRES

  • ControlScan and EchoSat Announce Merger - "ControlScan, Inc., one of the nation's foremost PCI compliance and security companies, and EchoSat, Inc., a leading provider of payments security, managed firewall and managed network solutions, announced today that the two companies will merge. With the combination of EchoSat's suite of managed security and network services products and ControlScan's industry leading managed compliance services product suite, the company will more effectively serve both the compliance and security needs of its combined client base of more than 775,000 payment card accepting merchant locations across North America."
  • TSYS Enables Tokenization for Commercial Card Issuers - "TSYS (NYSE: TSS) announced today that it has enabled tokenization across all of its North American commercial card platforms. TSYS is the first commercial card processor to allow its Visa® and Mastercard® corporate, purchasing and small business card clients to offer their cardholders the ability to pay with a mobile device using Apple Pay®, Android Pay® or Samsung Pay®."
  • First Data to Acquire CardConnect - "CardConnect is an innovative provider of payment processing and technology solutions and is one of First Data’s largest distribution partners. It processes approximately $26 billion of volume annually from about 67,000 merchant customers which are served by CardConnect’s large base of distribution partners."
  • Bank of America’s New Mobile Capability Delivers Enhanced Car Shopping and Financing Experience - "Bank of America has launched new capabilities for mobile clients to complete the auto financing process with the company. Clients can now search for a car from participating dealerships – all on their mobile device or computer and before ever visiting a dealership. The program will begin with a pilot period in the Carolinas and expand across the country in a phased rollout that will continue throughout the year."

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

May 26, 2017

Headline News from PaymentsNews.com - May 26, 2017

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

Have a great Memorial Day weekend!

ON THE WEB

  • Canadian trial finds blockchain not ready for bank settlements - Reuters - "Distributed ledger technology, a new approach for processing transactions that is being widely tested across the financial industry, is not yet mature enough to run a national interbank payment settlement system, the Bank of Canada said on Thursday. The bank reached that conclusion after a closely watched year-long trial code-named "Jasper," which sought to determine whether the technology, known as DLT, could be used to improve the performance of Canada's wholesale interbank payment system."
  • Walmart Continues E-Commerce Surge, But Grocery Competition Set To Sizzle - Retail Touch Points - "When Walmart first announced it was acquiring Jet.com last summer, the retail giant made it very clear that it was gunning for Amazon’s position as the e-Commerce leader. The desire to take on the pure-play pacesetter was particularly sharp after Walmart suffered five straight quarters of digital sales declines. Thus far, the move has been an astounding success for Walmart, which saw yet another stellar quarter from the digital side: e-Commerce sales jumped 63% while gross merchandise volume grew 69%."
  • Mastercard Extends Footprint In Middle East And North Africa With Strategic Expansion In Key Markets - Payments Afrika - "By establishing its formal presence in three new markets in the Middle East and North Africa, Mastercard, a leading technology company in the global payments industry, has reaffirmed its commitment to transforming the payments sector in the region through a renewed customer-centric approach to growth and expansion.| "

ON THE WIRES

  • SWIFT unveils industry’s first ever cross-border payments tracker - "SWIFT announces today the availability of its new cross-border payments Tracker that enables international payments to be traced in real-time. The Tracker is the cornerstone of SWIFT gpi – the cooperative’s new payments innovation service – which is revolutionizing the industry by combining real-time payments tracking with the speed and certainty of same-day settlement for international payments."
  • Global Payments Announces Full Support for Samsung Pay in the UK - "Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology services, is pleased to offer merchants in the United Kingdom the ability to accept Samsung Pay, a simple and safe mobile payment service that works almost anywhere you can swipe or tap your card. As a Samsung Pay-qualified payment provider, Global Payments' robust suite of payment solutions is fully enabled for acceptance, allowing merchants to offer their customers the convenience of Samsung Pay."

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

May 25, 2017

Headline News from PaymentsNews.com - May 25, 2017

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

ON THE WEB

  • Stripe now lets marketplaces onboard new sellers in less than 2 minutes - Venture Beat - "Today, Stripe is lifting the lid on a new kind of Connect account in the U.S. that allows sellers (e.g. couriers, merchants, and drivers) to sign up to Stripe Connect-powered marketplaces in less than two minutes — drastically undercutting the current state of play, which can take several weeks."
  • Safaricom lowers merchants fee to 0.5% on M-Pesa 1Tap Platform - Kenyan Wall Street - "M-Pesa One Tap will charge merchants 0.5% for transactions, while capping the same at Kshs. 200 for all transactions. Transactions below Kshs. 200 will not be charged both on the merchant and customer side. Webb says this is unlike the high 3.5% charged by acquirers, who also require customers to invest in infrastructure and license fees."
  • Google and Stripe Eye a slice of UPI pie in India - The Economic Times - "Google is preparing to introduce its digital wallet, Android Pay, in India this year, anchoring the platform to the government-backed Unified Payments Interface as are other global companies including Stripe and WhatsApp.
  • Fintech's decentralized nature challenges regulators as industry transforms banking - Reuters - "The amalgam of technological innovations that go under the label fintech began in the back office but has since moved to the front line. Banks are taking multiple approaches to developing systems, and any kind of collaboration on standards is at a very early stage. Key finech advances, including distributed ledger technology such as blockchain, require regulators to devise new strategies for oversight."
  • Worldpay Looks to Bring Real Payments to Virtual Worlds - Bloomberg - "Worldpay Group Plc, the London-based payments processor, has created a way to handle debit and credit card transactions in virtual reality. After building the solution over the past 18 months, Worldpay will target companies that produce virtual reality games and possibly others, such as fashion retailer Asos Plc and furniture seller Ikea, that have begun experimenting with VR as a sales tool, Nick Telford-Reed, the payment firm’s director of technology innovation, said in an interview."
  • WorldRemit, JMMB Money Transfer launch online transfers to Jamaica - Mobile Payments Today - "Digital money transfer services WorldRemit and JMMB Money Transfer have partnered to offer bank transfers to Jamaica, according to a press release."
  • Mossberg: The Disappearing Computer - recode (Big shout out to Walt Mossberg for his fine technology reporting over many years)- "This is my last weekly column for The Verge and Recode — the last weekly column I plan to write anywhere. I’ve been doing these almost every week since 1991, starting at the Wall Street Journal, and during that time, I’ve been fortunate enough to get to know the makers of the tech revolution, and to ruminate — and sometimes to fulminate — about their creations."

ON THE WIRES

  • Retailers Welcome Reports That House Will Drop Efforts to Repeal Debit Card Swipe Fee Reform - "The National Retail Federation welcomed reports tonight that House Republican leaders plan to abandon an attempt to repeal debit card swipe fee reform that has saved retailers and their customers more than $40 billion and brought badly needed competition to the payments market."
  • 2016 Top Smart Payment Card Shipment Figures - "Data collated by the SPA from its members show over 2152 million payment chip cards were shipped globally in 2016, an increase of 4% on 2015 figures."
  • Win the Morning with Masterpass and Dunkin’ Donuts - "To ensure coffee lovers get their morning started right, Dunkin’ Donuts now accepts Masterpass by Mastercard so guests can quickly and easily purchase and reload virtual Dunkin’ Donuts cards on DunkinDonuts.com and the Dunkin' Mobile App."
  • Control Releases Square Integration - "Control, a leading transaction analytics and alerts platform for SaaS, subscription and eCommerce businesses, has added an integration with Square. As the first standalone analytics and reporting tool to integrate with Square, Control now offers merchants that accept payments online and offline the efficiency of seeing all their analytics on one dashboard, rather than having disjointed data that will require manual calculation."
  • Bank of America Enhances Customer Choice: Provides Secure and Reliable Access to Data - "As customers look for more ways to view their full financial picture in one place, Bank of America is making updates to its Security Center and working with multiple financial data aggregators to provide customers the ability to simply and securely connect data from their Bank of America accounts to third-party financial management applications. Customers will also soon be able to see exactly which data aggregator services they’ve allowed to access their information. "

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

May 24, 2017

Headline News from PaymentsNews.com - May 24, 2017

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

ON THE WEB

ON THE WIRES

  • Discover Global Network Signs Deal with Desjardins Group to Expand Merchant Credit Card Acceptance in Canada - "Discover Global Network, the third largest payments network in the world1 and part of Discover Financial Services, has entered into an agreement with Desjardins Group, the leading cooperative financial group in Canada through its Monetico payment solutions, to expand acceptance in Canada. Merchants that have business relationships with Desjardins are now able to accept cards that run on the Discover Global Network, including Discover, Diners Club and alliance partner cards."
  • Payment Source Enables 'In-Person' Tax Payments Coast-to-Coast - ""Whether making online purchases, loading a mobile wallet or settling your taxes, it's important that Canadians have as many convenient options as possible. We're excited to be working with Canada Post to offer in-person cash or debit payment at any post office coast-to-coast," said George DeMarchi, President, Payment Source."
  • Customers Sitting on $100 Billion of Unredeemed Loyalty Points - "The Loyalty Report 2017, conducted in collaboration with Visa, is the largest study of its kind. The report captures responses from more than 28,000 consumers in the United States and Canada, collecting feedback on more than 400 programs on 50+ attributes of loyalty programs, including rewards and redemptions, program and earn mechanics, brand alignment and emotional and behavioral loyalty outcomes, as well as human-to-human and digital experiences."
  • SecureNow from Fiserv Delivers Integrated Cybersecurity Protection for Digital Banking - "Fiserv, Inc. (NASDAQ:FISV), a leading global provider of financial services technology solutions, today announced the availability of SecureNowTM, a centralized, real-time cybersecurity platform designed specifically for digital financial services. SecureNow integrates a wide range of cybersecurity protections to enable financial institutions to combat fast-moving threats and detect fraud in real time while maintaining a positive experience for legitimate users."
  • Netspend and United Airlines Launch MileagePlus GO Visa Prepaid Card in U.S. - "MileagePlus GO Visa Prepaid Card will be the first prepaid card in the U.S. offering a consumer the opportunity to directly earn miles for qualifying purchases made with a prepaid card."

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

May 23, 2017

Headline News from PaymentsNews.com - May 23, 2017

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

ON THE WEB

  • Google now knows when its users go to the store and buy stuff - Washington Post - "Google will begin using data from billions of credit and debit card transactions — including card numbers, purchase amounts and time stamps — to solve the advertising juggernaut’s long-standing quest to prove that online ads prompt consumers to make purchases in brick-and-mortar stores, the company said on Tuesday."
  • TransferWise launches ‘Borderless’ account for businesses, sole traders and freelancers - TechCrunch - "Moving beyond simply sending money from one country to another, the company is launching its “Borderless” account, a new online banking account aimed at businesses, sole traders and freelancers who need to conduct business across borders and in multiple currencies, and who want to take advantage of TransferWise’s low exchange rate when doing so."
  • Futuristic Fintech, With a Female Focus - Wall Street Journal (Paywall) - "Early testing yielded another important discovery: Women liked Joy more than men, so much so that Joy’s all-male team pivoted and redesigned their product. They brought in Alison Brod, a PR firm that specializes in beauty and fashion, to help create Joy’s look and feel, including its bright color scheme and balloon logo. Men are more than welcome to use Joy, Saunders says, but the app is unmistakably marketed to women, who remain an underserved market in financial services."
  • Investors Pour More Funding Into Cybersecurity Startups As Cyberthieves Ramp up Attacks - Digital Transactions News - "As cyber attacks grow more vicious, investors are pouring more money into startups whose technology is aimed at thwarting online thieves. Funding deals for private cybersecurity firms reached 139 in the first quarter, the highest quarterly number recorded over the past five years by CBInsights, a New York City-based research firm."
  • Blockchain consortium R3 raises $107 million - TechCrunch - "Leading investors included SBI Group, Bank of America Merrill Lynch, HSBC, Intel and Temasek, the company said in a statement. R3 represents the largest consortium of global financial institutions working on developing commercial applications for the distributed ledger technology that’s at the heart of blockchain technology."
  • Samsung Pay goes live in Taiwan with seven banks - NFC World - "Samsung Pay has been launched across Taiwan with support from Visa and Mastercard along with seven major banks including Citibank, Cathay United Bank, E.Sun Commercial Bank, Taishin International Bank, Fubon Bank, Union Bank of Taiwan and Standard Chartered. The service supports iris scan authentication for those with Samsung Galaxy S8 and S8+ devices."
  • Android Pay enters 11th global market with launch in Russia - NFC World - "Supporting banks include AK Bars, Alfa-Bank, B&N Bank, MTS Bank, Otkritie, Promsvyazbank, Raiffeisen Bank, Rocketbank, Russian Standard Bank, Russian Agricultural Bank, Sberbank, Tinkoff Bank, Tochka, VTB24 and online payment service Yandex.Money, which also offers support for Apple Pay and Samsung Pay."
  • Hackers Defeat Samsung Galaxy S8 Iris Scanner - Security Week - "While an individual’s iris is unique, researchers from CCC showed that Samsung’s iris scanner can be defeated by showing it a picture of the victim’s eye. It’s worth noting that members of the CCC were the first to bypass Apple’s fingerprint-based Touch ID system after its introduction in 2013. "

ON THE WIRES

  • Report: 70% of Financial Cards Have Chip - "Adoption of more expensive chip cards continues to drive global card growth with 70 percent of all financial cards now having a chip, according today to the International Card Manufacturers Association’s (ICMA) release of its 2016 Global Card Market and Personalization and Fulfillment Statistics Reports."
  • 57% of Billing Organizations are Increasing Investment in Electronic Payments Capabilities Over the Next Two Years - "The majority (57%) of billing organizations are investing in relevant payments technology to keep up with consumer wants and expectations, according to new data, “2017 Global Payments Insight Survey: Bill Pay Services,” from ACI Worldwide (NASDAQ: ACIW) and Ovum. The study, which includes organizations from a diverse array of industries—such as higher education, insurance, consumer finance, government, healthcare services and utilities—revealed that the pace of payments investment continues to increase year-over-year. "
  • Fattmerchant Platform Launches, Providing Companies with Comprehensive, Omni-Channel View of Payments and Transactions - "Fattmerchant, a payment processing provider offering transparent pricing and innovative technology, today announces the launch of the Fattmerchant Platform, which provides business owners with an all-in-one look at their processing information as well as valuable insights to help make smarter financial decisions. "

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

May 22, 2017

Headline News from PaymentsNews.com - May 22, 2017

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

ON THE WEB

  • Technology Inequality - Center for Financial Inclusion - "Like many techno-wonders of our world, the services used in Kenya and many other countries operate through distinct technologies that must interconnect seamlessly to complete transactions securely. These layers include data transmission connectivity, the handsets themselves and their operating systems, and the technologies delivering MFS menus and commands. These systems are continually evolving, subject to market and technology forces that do not necessarily prioritize mobile money."
  • EU executive asks bank watchdog to rethink 'screen scraping' ban - Reuters - "The European Union's financial services chief said on Friday he will ask the bloc's banking watchdog to rethink its proposed ban on "screen scraping" or financial technology firms directly accessing bank accounts. It marks a reprieve for fintech firms trying to wrestle market share from long established banks in the fast growing payments and apps sector."
  • Apple Pay violates Boston company’s patents, suit alleges - Boston Globe - "A small Boston company, founded by the inventor of a popular corporate encryption technology called RSA SecurID, sued Apple and Visa on Sunday, arguing that the Apple Pay digital payment technology violates its patents."
  • Tipping point for Apple Pay as majority of UK tills accept limitless payments - The Telegraph - "The majority of Apple Pay tills in the UK can now accept mobile payments above £30, bringing the tech giant's vision of replacing the wallet a step closer. Jennifer Bailey, the head of Apple’s payments business, said over half of contactless payment terminals in the UK are now able to take Apple Pay transactions of any value. Most card readers had previously been restricted to £30, the default upper limit for contactless card transactions."
  • Aptos Engage: ‘Store Of The Future’ Must Arrive Now...And Entertain - Retail Touch Points - "For years, Amazon has been considered retail’s public enemy No. 1. Of course, retailers understand the impact and influence of Amazon at a high level, but retail futurist and consultant Doug Stephens spotlighted a harrowing statistic during his keynote presentation at the second annual Aptos Engage user conference in Hollywood, Fla.: 60% of all e-Commerce growth is going straight to Amazon, with 40% left for everyone else."
  • Bitcoin just surged past $2,000 for the first time - TechCrunch - "But bitcoin isn’t the only cryptocurrency on the rise. Ripple, the centralized currency that is aiming to be a settlement protocol for major banks, has surged more than 10x, or 1000% in under a month making it now the second most valuable cryptocurrency (only behind bitcoin) in circulation."
  • POSERA, INGENICO TO ROLL OUT PAY-AT-THE-TABLE SOLUTION IN US - Cards International - "Posera, a Canadian provider of software solutions for the hospitality industry, has collaborated with French payment solution provider Ingenico to introduce its pay-at-the-table (PATT) solution SecureTablePay in the US. Under the partnership, Posera will integrate its SecureTablePay on Ingenico’ wireless smart terminals iWL250 to increase convenience as well as efficiency for the restaurant and the server."
  • Verse grabs $20.5M to take its p2p payments play beyond Europe - TechCrunch - "Social payments app Verse has closed a $20.5 million Series B round of funding from its existing investors. The round is led by Spark Capital, with eVentures and Greycroft Partners also participating. It raised its Series A in October last year, when it took in $8.3M."

ON THE WIRES

  • Nasdaq and Citi Announce Pioneering Blockchain and Global Banking Integration - "Nasdaq, Inc. (Nasdaq:NDAQ) and Citi (NYSE:C) Treasury and Trade Solutions announced today a new integrated payment solution that enables straight through payment processing and automates reconciliation by using a distributed ledger to record and transmit payment instructions. A number of payment transactions have been concluded including Citi’s automated processing of cross-border payments via a link between the CitiConnect® for Blockchain connectivity platform and the Linq Platform powered by the Nasdaq Financial Framework. This collaboration has created a pioneering institutional banking solution that tightly integrates blockchain technology with Citi’s global financial network leveraging API technology."
  • Total Merchant Services Partners with Womply to Offer Groovv Insights - "Total Merchant Services, a leader in payment services and solutions, today announced it is partnering with Womply to offer Groovv Insights, a technology and data platform that helps merchants grow, protect, and simplify their businesses. "
  • Jaxx Announces Massive Expansion, Partnering and Integrating With 70+ Top Blockchain Projects, Exchanges, & Platforms to Make Digital Currencies More Accessible to Masses - "Decentral (http://decentral.ca/) today announced that its flagship product, Jaxx (https://jaxx.io/), the leading user-controlled, multi-asset, multi-platform digital currency wallet and exchange, has secured over 70 new partners and integrations on the way to bolster its mission to become the ultimate command centre for all things blockchain. Just as the browser unleashed the power of the Internet, Jaxx will be the tool that brings digital currencies and digital assets to the masses."

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

May 19, 2017

Headline News from PaymentsNews.com - May 19, 2017

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

ON THE WEB

  • Telegram now lets users buy things from chatbots in its messaging app - TechCrunch - "Telegram, which puts a focus on security, introduced chatbots nearly two years ago, and now it is bringing support for payments for chatbots. That’s likely to open up a whole series of commercial opportunities for companies that want to use the chatbot platform to connect with consumers. The most obvious is e-commerce, but real-life commerce through bots — for example, buy a coke in a shop by interacting with its bot — is a possibility that other companies beyond Telegram are considering. Kik CEO Ted Livingston recently told TechCrunch that the introduction of payments is key to making chatbots live up to the hype."
  • Google announces Payment API, Assistant payments, targeted Android Pay loyalty offers & more - 9to5Google - "The new Google Payment API, which will work with both verified credit or debit cards linked to a Google account, is launching to enable faster payments in apps and online by requiring only a security code or authentication with an Android device to complete a purchase. Google is accepting sign ups for developers that are interested in getting early access to the new API."
  • Cryptocurrency Market Cap Tops $60 Billion to Hit All-Time High - Coindesk - "The total market capitalization of all cryptocurrencies reached an all-time high today, passing $60bn as the innovative assets continued to draw robust inflows. This figure reached $63.6bn at one point during the day's trading, according to online data service CoinMarketCap, which represented a weekly, monthly and quarterly increase of roughly 18%, 115% and 220%, respectively."
  • Fraudsters Exploited Lax Security at Equifax’s TALX Payroll Division - Krebs on Security - "Identity thieves who specialize in tax refund fraud had big help this past tax year from Equifax, one of the nation’s largest consumer data brokers and credit bureaus. The trouble stems from TALX, an Equifax subsidiary that provides online payroll, HR and tax services. Equifax says crooks were able to reset the 4-digit PIN given to customer employees as a password and then steal W-2 tax data after successfully answering personal questions about those employees."
  • Cayan preps new mPOS device, the Genius Mini - Mobile Payments Today - "Cayan said in a press release that the Genius Mini supports the growing trend of retailers and restaurants embracing mobile tablet POS systems and can accept all payment types including chip cards, NFC mobile payment and magstripe cards."
  • The Modern Mobile Web: State of the Union - Chromium.org - "What a difference a year makes. Last year at Google I/O, we shared that the mobile web was open for business. New technologies such as AMP and Progressive Web Apps (PWAs) were bringing new capabilities, better performance, and a streamlined workflow to the mobile web. Fast forward one year later: more than two billion AMP pages have been created and "PWA" has proved to be far more than a buzzword—it’s now the way that many businesses around the world are building for mobile devices. "

ON THE WIRES

  • First Data Launches Global eCommerce Solution for Payment Facilitators - "With First Data’s Global PFAC solution, payment facilitators have access to a single integration interface, enabling their merchants to easily authorize transactions in more than 150 currencies worldwide, and settle in 17 currencies."
  • Wells Fargo Helps Automates Accounts Receivables - "Wells Fargo & Company (NYSE:WFC) announced today significant enhancements to the Receivables Manager service offered to Treasury Management customers. The industry-leading tool saves time and improves efficiency for accounts receivable departments. Receivables Manager now offers three distinct capabilities – remittance advice matching, ACH and wire repair, and an integrated receivables file– that together streamline and automate the receivables application and posting processes."
  • XRP Liquidity to Increase With Listings on 6 New Exchanges - "Ripple, the only blockchain payments provider with proven commercial deployments, has announced today the expansion of its partnership with BitGo to list XRP on several leading digital asset exchanges: Bitso, Coinone, bitbank, and SCI’s BuyBitcoin. Additionally, AlphaPoint will be adding XRP to their platform so that their exchange customers can easily list XRP, and separately, Quoine’s QRYPTO exchange will list XRP in Q2 2017. SBI Virtual Currencies also plans to list XRP later this year."
  • Portland Launches Mobile Parking Payment App, Parking Kitty, Powered by Passport - "Portland, Oregon is changing the city’s parking experience. Doing away with a few of the hassles traditionally associated with city parking, Portland has launched Parking Kitty, a mobile payment app powered by Passport, the global leader in mobile payments for parking and transit. The mobile application will also be available throughout the region at Washington Park and Portland State University."

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

May 18, 2017

Headline News from PaymentsNews.com - May 18, 2017

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

ON THE WEB

  • Alipay, WeChat Pay lead China finance app explosion - Mobile World Live - "Finance app downloads in China grew by 230 per cent during 2016, according to a new report from analytics company App Annie. Unsurprisingly, m-commerce giants Alipay and WeChat Pay drove growth in the country. App Annie said the two were now on par with each other in terms of engagement, and way ahead of the nearest app from a traditional finance provider."
  • Square Will Replace Meters in Washington Taxis - Bloomberg - "Washington, D.C., is enlisting Square Inc.’s help as its taxi commission tries to help the city’s cabbies compete with Uber drivers. By the end of August, all of the taxis in Washington have to tear out their traditional meters and start using smartphones or tablets, in what the city government has been describing as a complete reimagining of how the cab system works. On Wednesday, the Department of For-Hire Vehicles is announcing that Square will process the payments going through those mobile devices."
  • Square Lays out Its Strategy for Growth at an Upbeat Investor Day Presentation - Digital Transactions News - "In its presentation, Square said it wants to improve the efficiency of acquiring merchants, which it calls sellers; move its services up market to larger merchants; grow and retain its existing customer portfolio; and make more international expansions. In March, Square launched in the United Kingdom, having already debuted in Canada, Japan, and Australia."
  • Paytm Raises $1.4 Billion From SoftBank to Expand User Base - Bloomberg - "Paytm, India’s largest digital payments startup, raised $1.4 billion from SoftBank Group Corp. in the largest funding round from a single investor for the country’s technology sector."
  • Google I/O: New Ways to Put Customers at the Center of Your Apps and Payments - Inside AdWords - "The Google Payment API enables merchants and developers to turbocharge checkout conversion by offering your users an easy way to pay with credit and debit cards saved to their Google Account. Users will have multiple Google payment options at their fingertips, like a credit or a debit card previously saved via Android Pay, a payment card used to transact on the Play Store or a form of payment stored via Chrome. And they’ll be able to use these saved payment options in third-party apps and mobile sites, as well as on Google Assistant when they are on-the-go."
  • Big data, Chinese surveillance, and Donald Trump could keep China’s biggest payments company from entering the US - Quartz - "The Trump administration has two options as it faces this deal. It can oppose it on grounds that a reverse acquisition would likely never receive approval in China, citing the “reciprocity” slogan. As senator Roberts said, Ant Financial’s acquisition of MoneyGram “should trigger no less concern than if a Chinese company were seeking to take control of a large, well-known bank,” and added “there is virtually no chance that a US financial services company would be permitted to acquire a Chinese [rival].”"

ON THE WIRES

  • First Data's Clover Platform to Enable Android Pay's Smart Tap - "Android Pay’s smart tap NFC messaging and mobile wallet marketing capabilities allow businesses to bring loyalty programs, stored value cards, coupons, and other offers to mobile-connected consumers. Android Pay users can simply tap their phones at the point of sale to receive rewards based on their loyalty or coupons towards future purchases."
  • North American Bancard Holdings and Total Merchant Services Announce Agreement for the Acquisition of Total Merchant Services - " North American Bancard Holdings, LLC (NAB), a multi-faceted and award-winning payment solutions provider, and Total Merchant Services, Inc. (TMS) announced today their agreement pursuant to which NAB will acquire TMS. The combined entity will be the 7th largest processor in terms of merchant locations in North America, processing nearly $50B annually."
  • Youtap Introduces X8 Solution for Mobile Money Merchant Payments - "Youtap has introduced an inexpensive retail enablement solution to help mobile network operators, banks and payment providers boost transaction revenue. Youtap's solution enables Tier 2 and Tier 3 merchants to accept NFC and QR code-based mobile money payments at the curb side. The solution relies on Youtap's NFC X8, a small, discreet point-of-sale device that can fit easily in a merchant's pocket or be worn around the neck. The X8 can process all mobile money transactions, including cash-in and cash-out transactions, airtime top-ups, bill payments and in-store payments."

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

May 17, 2017

Headline News from PaymentsNews.com - May 17, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

May 16, 2017

Headline News from PaymentsNews.com - May 16, 2017

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

ON THE WEB

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

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

May 15, 2017

Headline News from PaymentsNews.com - May 15

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

May 12, 2017

Headline News from PaymentsNews.com - May 12, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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