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October 11, 2016

Headline News from PaymentsNews.com - October 11, 2016

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

ON THE WEB

  • Wells Fargo Managers Pushed Overdraft Services - Wall Street Journal - "Wells Fargo & Co. managers pushed bankers to sign up customers for potentially costly overdraft protection that they didn’t always need or realize they were getting, according to current and former bankers and managers."
  • Watch the first episode of our new series Trust Disrupted: Bitcoin and the Blockchain - Tech Crunch - "We have a new series launching this week called Trust Disrupted: Bitcoin and the Blockchain. The six-episode series examines the rise of Bitcoin and the tech that allows it to operate. The first episode will answer all your questions about the Bitcoin platform and how it works. Why did futurists want to create a totally digital currency? How would it work? What will the effects of Bitcoin and the blockchain have on the future of our economy?"
  • Facebook lets users make purchases from brands directly through Messenger app - Mobile Commerce Daily - "The social media giant will now let consumers who engage with brands through the Messenger app purchase products with the tap of a button. The new capability is brought about by a partnership with Shopify."
  • Wells Fargo Forms Tech-Payments Group, Promotes Two Managers - Bloomberg - "Wells Fargo & Co. combined corporate payments and some consumer-banking operations with the technology-innovations group, creating a unit run by the former leader of consumer lending, Avid Modjtabai."
  • Credit Unions Turn to Blockchain Amid Increasing Competition - Coindesk - "A less-discussed type of financial entity, the credit union service organization (CUSO), has emerged as an unlikely – but significant – player in the industry’s CU Ledger blockchain initiative."
  • Facial Recognition Software Advances Trigger Worries - Wall Street Journal - "But the technology comes with a darker side. One of the company’s products touched off a privacy scandal in Russia, and the founders say they are in negotiations to sell its products to state-affiliated security firms from China and Turkey, among other countries, many of whom have spotty records of protecting civil liberties."

ON THE WIRES

  • Trailblazing in Tech: Hispanic Consumers Reveal Mobile-First Mindset, Early Adoption of Fintech - "Hispanic consumers are significantly more likely to engage with mobile to manage their finances, with 78 percent using a mobile banking app, compared to approximately half (51 percent) of non-Hispanics. What’s more, nearly three-quarters (69 percent) of the Hispanic community cite digital as their primary method of banking."
  • QuickBooks Self-Employed Helps Freelancers Get Paid Faster With Effortless Invoicing - "Invoicing has been the top requested feature from QuickBooks Self-employed users. Research shows that freelancers are owed an average of $10,000 in unpaid invoices, and spend 36 hours tracking down each missing payment. Now QuickBooks Self-Employed users will be able to take advantage of functionality that has already helped QuickBooks Online users get paid 15 days faster."
  • Fifth Third Bank Launches New Consumer Credit Cards - "Fifth Third understands that consumers want simplicity in their financial lives. So today Fifth Third is introducing two new credit card products, TRIOSM and Truly SimpleSM, that are easy for consumers to understand, use, and maximize their benefits."
  • To Go Stores selects P97 to transform Puerto Rican Pay at the Pump Experience - "The mobile deployment will take full advantage of P97’s strategic partner Verifone’s, new Commander Electronic Payment Server/Forecourt Controllers, which are being installed at all sites to ensure the in-store Point of Sale systems are EMV compliant and enabled with the Conexxus mobile standard. Rapid and secure mobile account authentication is supported by Microsoft’s Azure B2C and payment accounts are enabled instantly with the PetroZone integration by Automated Clearing House (ACH) provider BIM (Buy It Mobility)."

GLENBROOK AT MONEY2020

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

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

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

October 10, 2016

Headline News from PaymentsNews.com - October 10, 2016

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

ON THE WEB

  • Amazon’s Alexa aims to be a bank teller, insurance agent, too - Boston Globe - "Fidelity Investments is letting customers check their account balances by speaking with Alexa. Virginia-based Capital One earlier this year let its customers pay their mortgage and car loans using Alexa. And FIS, a Florida company that provides technology for hundreds of banks, is piloting similar Alexa-compatible technology across the country, including in Massachusetts, that it plans to release next year. “We think it’s got a lot of potential,” said Doug Brown, a senior vice president at FIS. “This is a rapidly expanding ecosystem.”"
  • IMAGINING A CASHLESS WORLD - The New Yorker - "In 2013, Sweden eliminated its largest-denomination bill, and demand for its second-largest bill, the five-hundred-krona note (about sixty dollars), surprisingly fell off soon afterward. By 2014, only a fifth of Swedish retail transactions were being conducted in cash. (In the U.S., it’s slightly less than half.) Swedish ticket machines for trains and buses usually take only cards; increasingly, cafés and bars and restaurants refuse cash, too. About half of the country’s bank branches don’t allow withdrawals or deposits in bills. As of a few years ago, “you could see the first signs of Sweden moving toward a true cashless society,” Jacob de Geer, who runs the pan-European, Square-like transaction service iZettle, told me recently. “Many of the smaller shops started putting signs up on their doors saying ‘We Don’t Accept Cash.’ ” "
  • OnStar subscribers can now make mobile payments through car app - Mobile Commerce Daily - "The new feature will be available on all of GM’s mobile apps and lets users make purchases from a variety of retailers and restaurants through their phones. The payment system will use a system called AtYourService and will be powered by Sionic Mobile."
  • Securing CSP Networks from the Next Wave of Threats - Telecom Engine - "Mobile payments is another area that is growing rapidly but potentially brings added risk for carriers. Contactless payment services are a natural fit for communications carriers, and many are partnering with technology companies, credit card issuers, banks and retailers to develop mobile payment systems that can drive new revenue streams. But the adoption of new payment systems might bring unexpected security risks."
  • Europe to Push New Security Rules Amid IoT Mess - Krebs on Security - "The European Commission is drafting new cybersecurity requirements to beef up security around so-called Internet of Things (IoT) devices such as Web-connected security cameras, routers and digital video recorders (DVRs). News of the expected proposal comes as security firms are warning that a great many IoT devices are equipped with little or no security protections."

ON THE WIRES

  • Acquisition of the retail business of Citibank in Brazil - " Citibank (with 71 branches) offers financial products and services to individuals in the retail segment in Brazil, including checking accounts, loans and credit cards, comprising approximately a client base of 315,000 checking account holders, R$ 35 billion in deposits and assets under management (gross amounts on the base date of December 31, 2015), 1.1 million credit cards and a loan portfolio of R$ 6 billion. With this acquisition, Itaú Unibanco's assets will reach to R$ 1,404 billion. The impact on Itaú Unibanco's core capital resulting from this transaction is estimated at approximately 40 bps (Basel III Full Ratio)."
  • Seamless Distribution AB: SEQR launches Contactless Payments and Gocardless Service in the UK – SEQR customers can pay from bank account at 500,000 points of sale - "As of today SEQR customers in the UK are now able to quickly and simply link their bank account to the SEQR app and make payments directly from their bank account. Until now UK customers have enjoyed the benefits of the SEQR pre paid account functionality, however enabling customers to connect their bank account opens SEQR up to millions more customers who prefer direct payment over a pre paid option."
  • Apriva Completes EMV Certification of Ingenico Group Terminals to TSYS - "Apriva, the leading provider of secure end-to-end wireless transaction processing solutions, today announced it has completed EMV certification with TSYS® Acquiring Solutions (NYSE: TSS) for Ingenico Group’s Telium2 smart terminals connecting through the Apriva Gateway."
  • Discover® to Match Cardmember Donations for Hurricane Matthew Relief Efforts - "Discover Financial Services (NYSE:DFS) announced today that it is pledging up to $500,000 to the American Red Cross for Hurricane Matthew relief efforts through a cardmember donation matching program. For every cardmember who donates to the American Red Cross using their Cashback Bonus®, or by making a donation with their Discover card, Discover will match those donations dollar-for-dollar up to $500,000. Discover is also waiving the transaction fees on all credit card donations to the American Red Cross for the immediate future."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

October 07, 2016

Headline News from PaymentsNews.com - October 7, 2016

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

ON THE WEB

  • Staples adopts Apple Pay for Web after in-app success - Mobile Commerce Daily - "Office supplier Staples is investing more in Apple Pay for online purposes after it saw 30 percent of its mobile application sales coming through the mobile pay program, but its in-store usage is lacking."
  • Optimizing Transaction Speed at the Point of Sale - EMV Connection - "As chip cards continue to be issued and chip-enabled terminals continue to appear at merchant locations across the U.S., many cardholders and merchants are having varied responses to their chip transaction experiences. A common response heard across the industry is the inconsistent speed observed during an EMV transaction, where a chip transaction might take a couple seconds at one merchant but 20 or more seconds at another."
  • Nasdaq Wants to Patent Blockchain Backups for Exchanges - Coindesk - "Nasdaq is looking to patent a method by which a blockchain could be used to secure records of exchange transactions. On 6th October, the US Patent and Trademark Office (USTPO) released an application for "systems and methods of blockchain transaction recordation", originally submitted by Nasdaq on 31st March."
  • Bringing Home the Bacon with a Good Card Program - FIS blog - "Over the last five or six years, card usage has grown enormously. Debit card usage is up over 50 percent, while credit cards up by just under 30 percent, according to The Nilson Report from Dec. 2015. These upward trends look set to continue to the end of the decade as card penetration continues its steady growth."
  • PwC: Digital And Mobile Holiday Spending Will Jump 25% - Retail Touch Points - "Furthering the need for retailers to bolster their store experiences, both e-Commerce and mobile sales are set to skyrocket, increasing by 25% each. With more shoppers expected to buy through digital channels in the 2016 holiday season, retailers need to ensure that this growth doesn’t cannibalize their brick-and-mortar presence. However, brands are encouraged to continue optimizing e-Commerce and mobile experiences to include frictionless, one-click checkout and easy access to store inventory."

ON THE WIRES

  • AFSA urges changes to CFPB's proposed small dollar rule - "The American Financial Services Association (AFSA) has submitted its 37-page comment letter to the Consumer Financial Protection Bureau (CFPB) urging the federal regulator to preserve consumers’ access to safe and affordable traditional installment lending (TIL) by modifying the Proposed Rule on payday, title loans and certain high-cost installment loans."
  • From the Trenches: Current Status of Security and Risk in the Financial Sector - "Ransomware, identified by 55% of respondents, has eclipsed spearphishing (50%) as the top attack vector for the first time. Such attacks have caused considerable damage, with 32% of survey respondents citing losses between $100,001 and $500,000 as a result of their breaches."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

October 06, 2016

Headline News from PaymentsNews.com - October 6, 2016

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

ON THE WEB

  • Chip card lawsuit to move forward against Visa, Mastercard, others - CIO - "A federal judge has ruled it is plausible that four national credit-card companies improperly conspired “in lockstep” to set a deadline of Oct. 1, 2015 for requiring retailers to upgrade their technology to accept embedded chip cards for credit and debit card purchases."
  • Kohl’s rolls out its own mobile payments platform, Kohl’s Pay - Tech Crunch - "That being said, the retailer has more than 25 million active cardholders across the U.S., so there is a sizable market that may be interested in using Kohl’s Pay at the point-of-sale. And these are Kohl’s most active and loyal customers — 60 percent of its in-store sales are done through its store cards, the retailer has said. What makes the solution better than traditional methods (e.g. cash, credit cards) is that it allows shoppers to automatically redeem the rewards they’ve collected in the app’s mobile wallet, at the same time as they check out — that is, it all takes place within one transaction."
  • New protections for prepaid accounts - CFPB - "The CFPB’s new rule on prepaid accounts creates comprehensive consumer protections for prepaid accounts that take effect on October 1, 2017."
  • Cross-Border Payments Startup Payoneer Raises $180 Million - Bloomberg - "Eleven-year-old Payoneer provides digital cross-border payments and transaction-related services. While the New York-based company has been profitable for three years, Payoneer raised cash to give it more flexibility to spend on expanding its workforce and global presence and build a bigger acquisition arsenal, said Chief Executive Officer Scott Galit."
  • Security Design: Stop Trying to Fix the User - Schneier on Security - ""Blame the victim" thinking is older than the Internet, of course. But that doesn't make it right. We owe it to our users to make the Information Age a safe place for everyone -- not just those with "security awareness.""

ON THE WIRES

  • PaySimple Introduces First eCommerce Platform for Services - "By using the PaySimple Online Store, small business owners can also focus on more than just selling. The system provides best-in-class order management, customer reconciliation, real-time business insights and reporting to learn which customers and products are their best, so that they can be more strategic and focus on their passions."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

October 05, 2016

Headline News from PaymentsNews.com - October 5, 2016

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

ON THE WEB

ON THE WIRES

  • Cardtronics to Acquire DirectCash Payments - "Cardtronics plc (Nasdaq:CATM) and DirectCash Payments Inc. (“DCPayments”) today announced a definitive agreement under which Cardtronics would acquire DCPayments. The purchase price of CAD$19.00 per share includes the assets of First Data Corporation’s Australian retail ATM and managed services ATM portfolio (“First Data ATM portfolio”), which was acquired by DCPayments on September 30. DCPayments is a leading global ATM services provider with approximately 25,000 ATMs (inclusive of its First Data ATM portfolio acquisition) with primary operations in Australia, Canada and the United Kingdom."
  • MineralTree and Visa Ink Strategic Alliance to Streamline Commercial AP Payments - "Today MineralTree, the Accounts Payable and Payment Automation solution provider for middle market companies, announced a strategic alliance with Visa to integrate the MineralTree platform with Visa Payables Solutions to drive the growth of Accounts Payable (AP) payments using commercial virtual cards. "
  • Revel Systems Announces RevelGuard - "Revel Systems, the world's leading iPad Point of Sale management solution for brick-and-mortar retail, food businesses and more, today announced the launch of RevelGuard, a hardware device that monitors the network health and builds alerts for clients with POS terminals using Revel."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

October 04, 2016

Headline News from PaymentsNews.com - October 4, 2016

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

ON THE WEB

  • Millennials and Money – Are they Maligned or Misunderstood? - Payments Views (Glenbrook’s Beth Horowitz Steel) - "Contrary to popular belief, the millennial generation is not lazy, entitled or narcissistic. They are a robust group of entrepreneurial, socially astute and media savvy consumers. They make discerning decisions about their money and are thoughtful about the companies they trust."
  • Mastercard app lets online shoppers pay with a selfie - International Business Times - "Mastercard is about to start letting customers in the UK and Europe pay for goods online by using their face instead of a password. Having already been trialled in the US and Canada, the service, called Identity Check Mobile, asks for customers to pose for a photograph of their face to authenticate online purchases."
  • Should SWIFT be afraid of blockchain technology? - Finextra opinon blog - "My first question: is blockchain really a threat for an organisation like SWIFT, that nowadays connects more than 8,000 financial institutions around the globe. This coordinated global payments network worked well enough for over forty years. Designed before the digital age, it is the best existing interbank messaging and exchange system, but needs a major upgrade."
  • Stripe payments exits beta in Japan, adds Sumitomo Mitsui Card Company as investor - Tech Crunch - "Stripe, the company that lets app publishers, online merchants and other digital businesses include payments features via a few lines of code, is expanding in Asia. After launching in Singapore two weeks ago, the startup is now officially opening for business in Japan. And alongside the Japan launch, Stripe is announcing a new investor. Sumitomo Mitsui Card Company, the largest credit card provider in the country, is taking a stake in the startup."
  • Why CGI Doubled Down on Ripple's Distributed Ledger Tech - Coindesk - "Since building one of the earliest Ripple proofs-of-concept in 2014, CGI has expanded its work with the distributed ledger into new areas. In July, CGI announced that it had integrated Ripple into its Intelligent Gateway service, used for sending Swift transaction messages. Then, at Sibos earlier this week CGI announced it has launched a blockchain laboratory for its customers to experiment with using Ripple for trade finance."
  • Q&A: Wal-Mart CIO Karenann Terrell on What the Retailer Learns From Online Grocery Data - Wall Street Journal CIO Journal - "Wal-Mart Stores is making a big push into the online grocery business this year, expanding beyond test markets to new cities across the U.S. Shoppers can place orders at Wal-Mart’s website and in its mobile app, for pick up at nearby stores. By analyzing data gathered as shoppers buy items from cantaloupe to cat food online, the retailer is learning how to better run backend operations as well as frontend customer service systems, Wal-Mart CIO Karenann Terrell tells CIO Journal."

ON THE WIRES

  • ATM Fees Set New Record High; Overdraft Fees Are Down - "ATM fees set a new record high for the 10th year in a row, with the total cost of using an out-of-network ATM withdrawal rising to $4.57, according to Bankrate.com's (NYSE: RATE) 19th annual checking survey."
  • Jack Henry & Associates Expedites P2P Payments - "ack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its JHA Payment Solutions™ group today announced that it has partnered with Visa® to deliver faster P2P (person-to-person) payments to a recipient's Visa debit card."
  • LG Brings Streamlined Payment Option To Smart TVs - "LG Electronics, in collaboration with Paymentwall, announced today that developers now have the opportunity to create apps that enable LG webOS Smart TVs in the United States to support scores of different online payment methods. LG's global Paymentwall alliance, bringing more than 140 payment options to more than 200 countries, will give consumers easier access to paid apps, movies, games and much more through LG's intuitive webOS Smart TV platform. "
  • FICO and Lenddo Partner to Extend Credit Reach in India - "The collaboration will combine Lenddo's dedicated knowledge in the use of nontraditional data for scoring and online verification with FICO's established strength in credit scores that are predictive, transparent and fair. FICO and Lenddo are developing a score that will give lenders improved certainty around the risk assessment of people with 'thin-files' – those who don't have enough data in their credit report to score. Both companies are committed to the common goal of enhancing financial inclusion around the world."
  • Automated Payments Systems in High Demand as International Payments Soar Due to Increasing Pace of Globalization - "AFEX, one of the world’s largest non-bank providers of global payment and risk management solutions, today announced the results of its inaugural State of International Payments Report, finding that nearly half (46%) of North American companies involved with international commerce expect to utilize international payments more this year than in 2015. As a result, nearly one in three North American companies (29%) are planning to start using, or plan to upgrade their online automated international payments tools in the next 12 months to increase operational efficiency, mitigate risk and reduce costs."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

October 03, 2016

Headline News from PaymentsNews.com - October 3, 2016

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

ON THE WEB

  • Android Pay removing ‘grandfathered’ credit cards from Google Wallet on October 14th - 9to5 Google - "Google’s Android Pay mobile payment service has been decidedly more restrictive since day one, all in the name of security. How so? Android Pay has always relied on a connection with a supported bank, leaving many other users out of Google’s favor."
  • Salesforce Brings E-Commerce Software Into the Fold and Smartens it Up - Fortune - "New with this release of the on-demand software is support for Apple AAPL -0.63% Pay, which enables secure payments from iPhone, iPad, or Mac devices. That could ease one big problem for online resellers who “increasingly see customers abandon the sale at checkout when they have to enter payment,” Shelley Bransten, Salesforce’s senior vice president of retail and consumer products told Fortune in an interview."
  • 3 Reasons Online Stores are Failing Your Service Business - PaySimple Blog - "Retail-based shopping carts can be great solutions for businesses trying to sell online. But for service-based businesses, sometimes they aren’t doing any favors."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

September 30, 2016

Headline News from PaymentsNews.com - September 30, 2016

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

ON THE WEB

  • Inside Bank of America's New Microsoft-Powered Blockchain Project - Coindesk - "Microsoft has been digging deep into the data created by its $120bn treasury unit in search of real-world use cases where blockchain could cut costs."
  • Simple rolls out shared bank accounts that work for anyone, including roommates - Tech Crunch - "Online banking service Simple is today rolling out a new product: shared accounts. However, unlike joint checking accounts typically shared by spouses, Simple’s shared accounts work differently. They allow customers to maintain their own accounts, but quickly fund then switch over to shared accounts to collaborate with each other on financial planning by tracking shared expenses, setting goals, and keeping an eye on the shared account’s “safe-to-spend” balance, which includes the money not already committed to bill payments and savings."
  • 80pc of consumers experience mobile shopping satisfaction despite security concerns: report - Mobile Commerce Daily - "Mobile commerce is now a global phenomenon, says a new report from the Interactive Advertising Bureau, with 80 percent of customers from around the world saying they are satisfied with their smartphone shopping options."

ON THE WIRES

  • EMVCo and PCI SSC Combine Expertise on 3-D Secure 2.0 - "Technical body EMVCo and PCI Security Standards Council have announced that they are collaborating to support the upcoming launch of 3-D Secure 2.0 (3DS 2.0). The announcement was made at the PCI Security Standards Council Community Meeting of global cyber security experts in Las Vegas, U.S, last week (20-22 September). "
  • FICO Survey: US Credit Unions Lose "Primary" Status with Half of Millennials as They Age - ""While credit unions may not have the vast networks of ATMs and branches, these new smartphone-driven technologies allow them to level the field. Integrating the ability to transact online can help address the attrition they are seeing in the 25-34 year-old age group.""

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

September 29, 2016

Headline News from PaymentsNews.com - September 29, 2016

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

ON THE WEB

  • US Central Bank Chair: Blockchain Could Have 'Significant' Impact - Coindesk - "During an appearance before a House of Representatives committee hearing today, Federal Reserve chairwoman Janet Yellen remarked that the US central bank is “trying to understand” financial technologies like cryptocurrencies and blockchain."
  • Yahoo Breach Raises Questions About Password Resets - Wall Street Journal - "“The problem is that the password reset mechanism usually involves sending a link to the email address registered with that account,” Mr. Ghosemajumder said. But if the password to be reset is for your main email account, there is no way to approve or verify any changes. And few Yahoo users are likely to have registered secondary email accounts to receive those links, he added."

ON THE WIRES

  • Citi Joins Early Warning’s clearXchange® Network - "Citi announced today that it will join Early Warning’s clearXchange® network, enabling Citi’s online and mobile banking customers to send or receive real-time person-to-person (P2P) payments to or from customers of participating network banks by simply using the recipient’s mobile number or email address. Citi will enable the functionality in early 2017."
  • Seamless Distribution AB: All European Seqr users can now use Seqr to pay all over the world – Contactless payment technology allows payments in 30 mln point-of-sales globally - "As of today all Seqr users in Europe can pay with Seqr all over the world using NFC (contactless) technology. The Seqr user simply holds the phone near the contactless card terminal to pay in shops everywhere where contactless card terminals are installed. The new Seqr contactless technology increases the freedom and independence for our users from old and inefficient technologies and financial services. Contactless technology makes Seqr into a truly global service and also increases the safety for users as a lost or stolen wallet doesn’t have to ruin a vacation or a business trip anymore. Seqr now is a fully global, fully functioning payment alternative wherever you are."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

September 28, 2016

Headline News from PaymentsNews.com - September 28, 2016

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

ON THE WEB

  • Mastercard jockeys for mobile payments domination with new API platform - Mobile Commerce Daily - "The Mastercard Developers program allows the brand’s partners to access APIs across security, data and payments categories alongside supportive tools, such as software development kits and sample code for top coding languages. Mastercard’s open API rollout arrives on the heels of its competitor Visa’s open developer program launch this past summer, signaling that financial marketers must continue collaborating with other companies and making mobile-first technologies readily available in order to keep up with the rapidly evolving space."
  • Wells Fargo Claws Back Millions From CEO After Scandal - Wall Street Journal - "CEO John Stumpf to forfeit $41 million in unvested equity awards, forgo salary during investigation; former retail banking head Carrie Tolstedt to forfeit $19 million in unvested equity awards."
  • Tripping the Plastic Fantastic - Bloomberg Gadfly - "Buyout firms Advent and Bain Capital have made six times their money in as many years from their investment in Worldpay, a payments processing company. In just two years, they reaped as much as four times their investment in Nets, Worldpay's Nordic competitor, which went public last week."
  • Square hopes to ease the EMV transition with faster transaction times - Tech Crunch - "It’s focused on cutting transaction times to alleviate customer impatience, and it now boasts a 4.2-second total time from when you put your card in the reader to when you’ve successfully checked out."
  • ANDROID, IOS AND MARKET POWER – WHAT DOES MOBILE PLATFORM COMPETITION REALLY LOOK LIKE? - Disruptive Competition Project - " When the Commission announced the Statement of Objections (SO) it sent to Google, it held that the company has a market share of more than 90% in the market for licensable smart mobile operating systems. The word ‘licensable’ is key because it means that Apple’s iOS which powers all iPhones and iPads is outside the scope of the relevant market. So are iPhones really not competing with Android-powered smartphones?"

ON THE WIRES

  • Mastercard Accelerates the Pace of Commerce Innovation with Launch of Mastercard Developers - "This single gateway enables Mastercard partners to access a diverse range of Application Programming Interfaces (APIs) across payments, data and security. The platform also includes a ‘New and Experimental’ API category that enables partners to test new technologies and applications. "
  • Blockchain Adoption Moving Rapidly in Banking and Financial Markets: Some 65 Percent of Surveyed Banks Expect to be in Production in Three Years - "Commercial blockchain solutions are rapidly being adopted throughout banking and financial markets, dramatically faster than initially expected, finds two new IBM (NYSE: IBM) studies. Fifteen percent of banks and 14 percent of financial market institutions interviewed by IBM intend to implement full-scale, commercial blockchain solutions in 2017. Mass adoption isn't that far behind with roughly 65 percent of banks expecting to have blockchain solutions in production in the next three years."
  • Samsung Pay Reaches One Year Anniversary in the United States - "Samsung Pay—the most widely accepted mobile payment system—celebrates its first anniversary in the U.S., building on the digital wallet’s record of success. In just one year, Samsung Pay has driven innovation, adding features like support for membership and gift cards and coupons, allowing users to slim down their wallets. Samsung Pay now supports over 500 banks and credit unions, representing over 80 percent of the debit and credit card market in the U.S. Samsung Pay also now offers new features including an in-app coupon service to search, store and redeem coupons, as well as a new cloud storage feature to restore membership, gift and Samsung Reward cards whenever they sign into a new device."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

September 27, 2016

Headline News from PaymentsNews.com - September 27, 2016

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

ON THE WEB

  • IPFA drafts rulebook for cross-border instant payments - Finextra - "The International Payments Framework Association (IPFA) announces the first global scheme to transact real time payments as cross-border and cross-currency credit transfers."
  • 8 R3 Banks Test Intel Blockchain Platform - Coindesk - "A group of eight R3 member-banks have successfully tested a blockchain prototype that simulated the exchange of US Treasury bonds. Though a familiar use case for the tech, the test is notable given that it used technology developed by Intel and unveiled earlier this year. Called 'Sawtooth Lake', the platform offers a compelling take on how secure hardware could play a role in distributed ledger architecture."

ON THE WIRES

  • ACI Worldwide and VocaLink Join Forces to Speed up Adoption of Immediate Payments Around the World - "ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, and VocaLink, a global payments systems company, today announced a partnership to offer a complete end-to-end immediate payments solution to launch a domestic or regional immediate payments network."
  • Making Open & Instant Payments a Reality Worldwide: FIS Successes Cross Borders - "FIS’ Open Payment Framework (OPF) and the applications derived from this state-of-the-art technology are built to enable customer-facing organizations to offer more insight, lower costs and enhanced flexibility to better manage consumer adoption. OPF already has been implemented this year by financial institutions in Hong Kong, India and Canada to facilitate cross-border, ACH and wire transfers, and to provide customers with a single view on all their payments."
  • Fiserv Partners With FCTI to Drive ATM Terminals for World’s Largest Convenience Retailer’s U.S. Stores - "Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, has partnered with FCTI Inc., (FCTI), a nationwide ATM network company, to provide transaction processing for nearly 8,000 ATM terminals at franchise- and corporate-owned 7-Eleven stores across the United States."
  • Visa and Oracle Introduce New Tools to Help Improve Digital Ad Performance - "Leveraging digital advertising and cross-device connection data from Oracle Data Cloud with aggregated purchase data from Visa Advertising Solutions, merchants can measure consumer response to advertising campaigns run on mobile, display, video and social channels, and use the insights gained to optimize their efforts."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

September 26, 2016

Headline News from PaymentsNews.com - September 26, 2016

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

ON THE WEB

ON THE WIRES

  • Faster Processing and Settlement of ACH Credit Transactions begins Today, Reaching all U.S. Bank Accounts - "The Electronic Payments Association®, the trustee and rule maker of the ACH Network, announced the launch of Phase 1 of Same Day ACH. Same Day ACH is a new faster payments option that reaches all bank accounts and will enable businesses and consumers to send and receive payments and payment-related information on the same day through the ACH Network."
  • Major Banks Launch Global Payments Steering Group - "Ripple, the global provider of financial settlement solutions, today announced that a number of global banks are joining forces to establish the first interbank group for global payments based on distributed financial technology. Bank of America Merrill Lynch, Santander, UniCredit, Standard Chartered, Westpac Banking Corporation, and Royal Bank of Canada are the founding members of the organization, known as the Global Payments Steering Group (GPSG)."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

September 23, 2016

Headline News from PaymentsNews.com - September 23, 2016

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

ON THE WEB

  • Payments Data with Russ Jones - Glenbrook’s Payments on Fire Podcast - "Take a dip into the payment data pool in this podcast with Glenbrook’s Russ Jones. Russ discusses artificial intelligence, privacy, and the spread of Bluetooth beacons. For a deeper dive into the topic, join Russ at the Payments Data Insight Workshop on October 13 in Palo Alto because data’s influence in payments continues to expand."
  • Nets Starts Trading as IPO Values Payment Firm at $4.5 Billion - Bloomberg - "Nets Holding A/S, a Nordic payments firm being sold by equity funds Advent International Corporation and Bain Capital Private Equity, as well as Danish pension fund ATP, started trading in Copenhagen after an offer period to buy shares ended early. Investors paid 150 kroner a share to own a chunk of the company, according to a statement to the stock exchange in the Danish capital on Friday. That values Nets at 30 billion kroner ($4.5 billion), with 52 percent of the firm in free float, not including a so-called over-allotment."
  • Facebook Messenger adds group chat Polls and AI payment suggestions - Tech Crunch - "Facebook first launched friend-to-friend payments in March 2015, and just opened up payments to chatbots. But now you won’t have to beg and nag people as directly to settle their debts. Facebook’s AI will swoop in. Facebook already has some know-how here since the head of Messenger David Marcus and its VP of Product Stan Chudnovsky both came from PayPal. Making payments a seamless part of the conversation experience could lure people away from siloed apps like Venmo, PayPal, and Square Cash which solely handle payments and not everyone has. Combining Messenger’s ubiquity with a simple payments feature could keep people running all their communication, words or dollars, through Facebook’s chat app. "
  • World's Largest Mining Company to Use Blockchain for Supply Chain - Coindesk - "BHP Billiton revealed at the second annual Global Blockchain Summit that it will use blockchain to record movements of wellbore rock and fluid samples and better secure the real-time data that is generated during delivery. According to BHP geophysicist R Tyler Smith, the new system will enable benefits for its internal efficiency while allowing it to work more effectively with partners."
  • IBM, China UnionPay Develop Blockchain Loyalty Points Exchange - Coindesk - "In a proof-of-concept revealed today, IBM and China UnionPay have developed a platform that allows customers to trade points earned through purchases and other incentivized behavior with one another. It's a concept that can be applied to the exchange of frequent flyer miles, mobile phone bills or gas cards."
  • Blockchain Makes Inroads in Shipping - Wall Street Journal - "Marine Transport International Ltd., a U.K.-based freight fowarder, has started using blockchain to create real-time digital ledgers of shipping data for use by port officials, cargo owners and others along global supply chains, the company said Thursday."
  • This Beautiful Copper Coin Could Transform How We Spend Money - Fast Company - "Scrip is a provocative solution to a world full of easy electronic payments. A concept by NewDealDesign (NDD)—a design firm known both for working on major products like Google's late Project Ara, Fitbit, and Lytro, as well as feasible sci-fi tech like swappable tattoos that live under your skin. It’s a digitally connected, mechanical brass coin that you load with money like a MetroCard. And as you go about your day, paying for things via wireless NFC connections (like Apple Pay), it offers braille-like tactile feedback so that you recognize how much you’re spending."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

September 22, 2016

Headline News from PaymentsNews.com - September 22, 2016

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

ON THE WEB

  • U.S. House Bill Aims to Set Up ‘Sandbox’ for Fintech Innovation - Wall Street Journal - "The financial technology industry, from digital currencies to peer-to-peer online lending, has raised concerns that U.S. regulation isn’t keeping pace, potentially causing businesses to consider moving operations to the U.K. The sandbox program, kicked off in May, lets companies work alongside a regulator when testing a fintech product or service. "
  • Winklevoss Bitcoin Exchange Gemini to Launch Daily Auctions - Coindesk - "Gemini Trading, the bitcoin and ethereum exchange founded by Tyler and Cameron Winklevoss, is set to begin hosting daily bitcoin auctions."
  • Federal judge says Bitcoin is money in case connected to JP Morgan hack - Ars Technica - "A Manhattan-based federal judge ruled on Monday (PDF) that a man accused of running an illegal Bitcoin exchange website could not have two charges of running an unlicensed money transfer business dropped because Bitcoin is money."
  • Yahoo is expected to confirm a massive data breach, impacting hundreds of millions of users - recode - "Yahoo is poised to confirm a massive data breach of its service, according to several sources close to the situation, hacking that has exposed several hundred million user accounts. While sources were unspecific about the extent of the incursion, since there is the likelihood of government investigations and legal action related to the breach, they noted that it is widespread and serious."

ON THE WIRES

  • Walmart to process payments through ChaseNet - "Chase today announced that it has expanded its relationship with Walmart (NYSE: WMT) to process payments on ChaseNet, the bank's closed-loop network, at its 5,000+ Walmart and Sam’s Club locations in the U.S. and at Sam’s Club ecommerce."
  • Payza Launches Direct Credit Card Processing to European E-Commerce Merchants - "Payza, a global payment platform, has announced today that qualified online businesses and merchants in Europe are eligible for the No Monthly Fee Payza Business account to process Visa and MasterCard payments for rates starting at 2.9%. Approved Payza Business account holders will also be able to accept direct Payza e-wallet, Bitcoin and Interac Online (Canadian debit card network) payments at low cost, without any monthly, maintenance or account set-up fees."
  • NCR Launches Mobile Business Banking Application for Financial Institutions’ SMB Customers - "NCR Corporation (NYSE: NCR), a global leader in omni-channel solutions, today announced the launch of Business Banking Mobile, extending the SaaS-based platform to customers’ mobile devices. The application will allow community financial institutions (CFIs) to compete with larger financial institutions by providing their business banking customers with iOS and Android access to this secure and easy-to-use account management platform."
  • Accenture Implements State-of-the-Art Payments-Processing Platform with UniCredit as First Client - "Accenture (NYSE:ACN) today announced a multi-year contract with UniCredit Business Integrated Solutions, the global service company of UniCredit, to implement a state-of-the-art Payments-Platform-as-a-Service (PPaaS) solution. Accenture’s new PPaaS solution, which is built on DH Corporation’s (TSX:DH) (D+H) global payments services hub software, is a highly scalable, pay-per-use solution that will process SEPA and international payments, and will adapt to new regulations and industry updates, as well as provide flexibility for future expansion."
  • 2016 e-commerce fraud attacks on pace to surpass 2015 totals - "The question of whether we're in Kansas anymore is appropriate with the latest release of Experian® fraud attack data from across the United States. Eudora, Kan., is home to the highest e-commerce billing fraud ZIP Code™. Accounting for 5 percent of the total billing fraud so far in 2016, the town is among the top 25 riskiest ZIP™ codes, illustrating that fraud is not confined to larger cities."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

September 21, 2016

Headline News from PaymentsNews.com - September 21, 2016

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

ON THE WEB

  • Emerging markets urged to embrace digital finance - Financial Times (Paywall) - "Mobile wallets, online payments, pre-paid cards and digital savings accounts are all examples of low-cost financial services that McKinsey Global Institute estimates could add 6 per cent to emerging market gross domestic product by 2025, a boost equal to the entire African economy."
  • Why Vodacom, MTN failed at mobile money - Tech Central - "Excessive regulation, a business model that tried to do too much too soon and trust worries among consumers. These are the reasons Vodacom’s M-Pesa and MTN’s Mobile Money failed in South Africa, according to the CEO of fast-growing fintech player Hello Group."
  • 'Super Shoppers' Demand Specific Payment Options - Retail Touch Points - "Only 13% of the world’s consumers generate 62% of e-Commerce revenues, spending $372.5 billion from March 2015 to March 2016, according to a study from WorldPay. With such a small percentage of consumers accounting for such a large slice of online retail, merchants should certainly cater to these “Super-Shoppers” whenever possible."
  • Study shows Canadians’ growing enthusiasm for mobile payments - NFC World - "A quarter of Canadians aged 18-34 prefer paying with a mobile wallet over cash or card, compared to 18% of those aged 45-54, 10% aged 55-64 and 6% aged 65 and over. In the 18-34 bracket, 46% said they would be more likely to use a mobile wallet if it were available for their credit card, and 47% said they would use one if it were accessible on their current phone. "

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

September 20, 2016

Headline News from PaymentsNews.com - September 20, 2016

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

ON THE WEB

  • Swift Creates Payment Pattern Anomaly Alerts for Customers - Wall Street Journal - "Cross-border financial messaging giant Swift is rolling out an anomaly detector to help banks monitor for fraud, as it moves to address a rash of cyberbreaches at customer sites. The company said Tuesday it was developing customer alerts displaying a snapshot of a day’s activity and any unusual messaging patterns detected by Swift."
  • What to expect at the Wells Fargo hearing - Boston Globe - "Details have been leaking out for years but last week the company was hit with a wrist-slapping $185 million fine and an embarrassing report showing how strangely counterproductive the whole operation was. It never helped the company make money; it just helped employees meet misguided sales targets."
  • Stripe Heads for Asian Turf War - Bloomberg - "Stripe has finally marked its official arrival in Asia with the opening of a Singapore office. After expanding to two dozen countries across the globe, it makes sense for the San Francisco-based payments provider to pick Singapore as its launchpad for an assault on Southeast Asia. The city-state is already the latter's financial hub, and it plays host to numerous startups that are attempting to tackle e-commerce in neighboring countries."
  • 7 Financial Firms Test Blockchain for Data Management - Coindesk - "Credit Suisse, Citi and HSBC are among seven financial firms to participate in a data management trial announced today and conducted with support from blockchain firms Axoni and R3CEV."
  • Santander Vies to Become First Bank to Issue Cash on Blockchain - Coindesk - "Spanish banking giant Santander is working on a project that explores how it could digitize customer cash using the public ethereum blockchain."
  • Corporate Judgment Call: When to Disclose You’ve Been Hacked - Wall Street Journal - "Companies are getting hacked more frequently but aren’t disclosing the incidents in their regulatory filings, a trend that worries investors."

ON THE WIRES

  • Noventis to Deliver Faster, Cost-Effective Payments to SMBs - "PreCash Inc. officially became Noventis, Inc. today to serve new markets and deliver faster payments at a lower cost to a broad base of businesses. Fueled by record growth, an infusion of capital and growing market demand for more efficient payment delivery, Noventis will make faster, more cost-effective digital payments available to a wider number of financial services and Fintech partners that serve small to medium businesses (SMBs). Leveraging the same technology that is already in use by over 4,000 partners, Noventis is optimizing payment delivery by providing electronic access to an ever-growing network of businesses."
  • Frost Bank® Joins Early Warning® clearXchange® Network - "Early Warning, the industry leader in real-time payments, authentication and risk mitigation, today confirmed San Antonio-based Frost Bank has joined Early Warning’s clearXchange network. Through the network, Frost Bank is now able to offer person-to-person (P2P) payments directly through its online and mobile banking platforms."
  • Mastercard Teams Up with Stripe to Make Getting Paid Faster and Easier in Today’s Shareconomy - "Today, Mastercard and Stripe announced that Mastercard Send is speeding payments for U.S. sellers on Stripe marketplaces using the instant payouts feature from Stripe. Getting paid as a caregiver, dog walker or hairstylist just became a lot faster and more convenient. Mastercard Send is a first-of-its-kind service that enables people and businesses to send and receive funds quickly and securely."
  • ACI Announces New Cloud-Based Payment Connectivity to SWIFT - "ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, today announced a partnership with SWIFT for Alliance Lite2, the cloud-based connectivity to SWIFT. Available through ACI’s global payment processing solution, Money Transfer System (MTS), ACI is offering this new cloud-based connectivity to provide faster, cheaper access to SWIFT."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

September 19, 2016

Headline News from PaymentsNews.com - September 19, 2016

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

ON THE WEB

  • Bank of England aims to revamp interbank payment system by 2020 - Reuters - "Proposed enhancements include running the system continuously, rather than just during normal working hours, and making it easier for smaller banks, brokers and payment processing firms to access the system directly. "A key enabler for delivering these changes will be a comprehensive rebuild of the RTGS technology platform. The Bank will make decisions on its resilience, including in particular its cyber defenses, in consultation with intelligence partners," the BoE said."
  • The Chip-Card Ninjas Weaning America Off Swiping - Bloomberg - "The chip cards are resistant to forms of fraud to which the old magnetic stripes were vulnerable—so resistant, in fact, that companies have seen a recent surge of fraud as criminals try to burn through their old stolen credit-card data."
  • Banks trusted most to deliver biometric authentication of the future - Payments Cards and Mobile - "Consumers are nearly twice as likely to trust banks to store and keep their biometric information safe (60%), than they are to trust government agencies (33%)."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

September 16, 2016

Headline News from PaymentsNews.com - September 16, 2016

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

ON THE WEB

  • What the Wells Fargo Cross-Selling Mess Means for Banks - Wall Street Journal - "Concept of selling customers multiple products is Holy Grail of banking, but it’s tough to pull off in practice."
  • PayPal Reaches Deeper Into China With UnionPay Partnership - Bloomberg - "Merchants in European countries will be able to accept payments from UnionPay credit and debit cards through PayPal’s Braintree platform designed for mobile commerce, San Jose, California-based PayPal said Thursday in a statement. Adding a familiar payment option is a key step to enabling cross-border e-commerce, so the partnership will increase PayPal’s appeal to European merchants looking to reach Chinese shoppers. Alibaba Group Holding Ltd. uses a similar strategy to introduce foreign goods to Chinese shoppers through it’s payments service."
  • Domino’s joins chatbot movement, unveils Facebook Messenger ordering - Mobile Commerce Daily - "In an effort to cash in on the chatbot craze and expand its own digital ordering service, Domino’s is now allowing customers to order pizza through a Facebook Messenger chatbot."
  • Australia to Lead International Blockchain Standards Effort - Coindesk - "An Australian group has been selected by the International Organization of Standardization (ISO) to spearhead a technical committee developing standards for blockchain tech. Standards Australia announced its leadership role on the committee yesterday, revealing it will oversee members from 35 countries on the effort. The ISO, founded in the 1940s, is composed of representatives from more than 160 national standards-setting bodies."
  • Taking Proximity Tech Beyond Promotional Offers - Streetfight - "Another forward-thinking, and more complex, use of beacon technology is enabling mobile payments. When a shopper is using a mobile shopping app that includes the customer’s shopping list, beacons can automatically add the items to a customer’s digital cart as they pass and stop at the item’s in-store location. Shoppers can add additional items to their digital shopping cart by scanning or taking a photo of the item. When it’s time to exit the store, an in-store associate can easily verify the purchase, bag the items and print or email a receipt based on the customer’s preference."
  • Pushing the boundary of Enterprise Security with Verified Access - Google for Work Official Blog - "With security breaches that pose threats to businesses and their customers on the rise, CIOs are demanding more from their vendors when it comes to the security of their systems and devices. Advanced security is a mainstay of every Chrome device, regardless of price or type, and today we’re taking the next major step in bringing greater security to the enterprise with Verified Access for Chrome OS devices."

ON THE WIRES

  • UPDATE: Walmart Canada Statement Regarding Visa Credit Card Purchases - "Walmart Canada began informing customers this morning that we will stop accepting Visa credit cards at our 16 stores in the province of Manitoba beginning October 24, 2016. On July 18, 2016, Walmart Canada stopped accepting Visa credit cards in Thunder Bay."
  • The Bancorp Implements Cost Reduction Plan to Reduce Expenses and Improve Efficiencies - "The Bancorp, Inc. (NASDAQ: TBBK) today began the implementation of a board-approved cost reduction plan designed to streamline its businesses and corporate functions and better position the organization for the future. The first phase of the plan entailed a company-wide workforce reduction. The second phase will entail a close examination and identification of potential cost saving opportunities within the company’s supply chain network."
  • Kazkommertsbank and Diners Club International Launch Franchise Activity in Kazakhstan - "Diners Club International Ltd., as part of Discover Global Network, and JSC Kazkommertsbank, one of the largest acquirers and credit card issuers in Kazakhstan, will commence Diners Club card business operations in Kazakhstan."
  • Conformance Technologies to be Honored by PCI Security Standards Council - "“Participating organizations are critical in our mission to educate, empower and protect the payment card marketplace,” said PCI Security Standards Council General Manager, Stephen Orfei. “As the PCI Council celebrates its 10 year anniversary, we are appreciative of the continued involvement of Conformance Technologies and the commitment they have demonstrated to payment security since the Council’s inception,” adds Orfei. “We look forward to continuing this collaboration in the decade ahead.”"

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

September 15, 2016

Headline News from PaymentsNews.com - September 15, 2016

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

ON THE WEB

  • MasterCard Seeks To Stop Online Fraud With Selfies, Fingerprints - Wall Street Journal - "MasterCard plans to launch new biometric technology for verifying customer identities during online shopping transactions in the coming weeks with merchants and banks. The company has been testing facial and fingerprint recognition software, called Identity Check, in the Netherlands, Canada and the U.S., as a way to combat growing online fraud."
  • Naspers’ PayU buys Citrus Pay for $130M in cash to expand in India - TechCrunch - "PayU, an online payments company with a focus on developing markets that is owned by South Africa’s Naspers, has acquired India’s Citrus Pay for $130 million in cash, in what the companies say is the largest cash exit for a payments company in India to date."
  • Federal Prosecutors Investigating Wells Fargo Over Sales Tactics - Wall Street Journal - "Federal prosecutors are in the early stages of an investigation into sales practices at Wells Fargo & Co. that led to the bank being hit last week with a $185 million fine, according to people familiar with the matter."
  • Sydney Stock Exchange Taps Blockchain to Fight ASX Monopoly - Coindesk - "By immediately settling transactions, Joseph said she believes SSX can reduce its risk, while helping Australia emerge as a leader in harnessing blockchain technology. Still, Joseph, who also chairs the Australian Digital Currency Commerce Association (ADCCA), said there are regulatory reforms that are needed before the exchange could implement such a system. Currently, all four licensed clearing and settlement facilities in the country are owned by ASX, according to the Bank of International Settlements."
  • New Messenger Platform Features: Link Ads to Messenger, Enhanced Mobile Websites, Payments and More - Facebook developer blog - "Today, we're also rolling out a new way for businesses to sell products and services in Messenger. Payments can now be integrated into messages, making it easy for customers to shop and purchase without leaving the app. Messages with payments utilize industry-leading controls and financial information is protected with bank-level encryption. As of today, payments will be available for select developers in beta; businesses can apply through the Messenger developer webpage. We expect to roll out this capability more broadly by the end of the year."
  • Secret Service Warns of ‘Periscope’ Skimmers - Krebs on Security - "The U.S. Secret Service is warning banks and ATM owners about a new technological advance in cash machine skimming known as “periscope skimming,” which involves a specialized skimming probe that connects directly to the ATM’s internal circuit board to steal card data."

ON THE WIRES

  • Several Global Banks Join Ripple’s Growing Network - "Ripple is proud to announce the addition of several more financial institutions to our growing network. Standard Chartered, National Australia Bank (NAB), Mizuho Financial Group (MHFG), Siam Commercial Bank and Shanghai Huarui Bank are now among the global banks that have adopted Ripple’s settlement technology to improve their cross-border payments and offer their customers improved service."
  • Ripple Raises $55 Million in Series B Funding - "Ripple is pleased to announce that we have raised $55 million in Series B financing. This includes participation from new investors, including Standard Chartered, Accenture and SCB Digital Ventures, the venture arm of Siam Commercial Bank, and SBI Holdings. Additional investors participating in the round include Santander InnoVentures, the venture arms of CME Group and and Seagate Technology."
  • Amdocs Acquires Three Leading Technology Companies to Expand Digital Offering - "Vindicia is a market-leading provider of software-as-a-service (SaaS) subscription management and payment solutions. Vindicia makes it easy, flexible and frictionless for digital enterprises to onboard customers and process payments for digital content, over-the-top (OTT) entertainment, online subscriptions and on-demand services."
  • UATP Teams With Affirm To Deliver New Payment Solutions For Its Customers - "UATP announced today that they have teamed up with Affirm, an innovative financial services provider, to provide technology that will allow airlines' customers to purchase airfare in flexible installments, without a credit card. The partnership builds upon UATP's payment technology platform providing speed to market for the Affirm product."
  • SuperCom to Launch Mobile Wallet Solution with VeriFone and Nofshonit in Israel - "SuperCom (NASDAQ: SPCB), a global provider of secure solutions for the e-Government, Public Safety, HealthCare, and Finance sectors announced today that Nofshonit, one of the largest loyalty club providers and operators in Israel, has selected SuperCom to provide an e-wallet solution to Nofshonit clients for digital loyalty and pre-paid shopping programs, to be supported at merchant locations over various devices and applications."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

September 14, 2016

Headline News from PaymentsNews.com - September 14, 2016

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

ON THE WEB

  • Sophisticated retailer apps see 54pc of transactions occur in-app: report - Mobile Commerce Daily - "As the debate between the conversion potential of mobile Web sites versus applications continues, a new report by Criteo revealed that retailers with sophisticated app presences saw up to 54 percent of their transactions generated in-app, up seven percent from last year."
  • Subway bolsters digital assets - Restaurant News - "In making the acquisition, Subway is buying a 20-person team, which will remain in Vancouver and help the chain bolster its mobile ordering and payment capabilities. It could also speed Subway’s development of in-store kiosks, something the chain is developing alongside Avanti. "
  • Let Siri Carry Your Wallet: Payments at the Speed of Conversation - Venmo blog - "Siri will draft a text message for you to review and send to Venmo. We’ll double check your grammar and make sure you are paying or charging one of your Venmo friends. If everything looks good, we’ll pay or charge your friend and send you and Siri a confirmation message."
  • Alibaba Pays $100 Million For Eye-Scan Firm Used by U.S. Banks - Fortune - "Alibaba’s payments arm, Ant Financial, has acquired EyeVerify, a maker of optical recognition technology used by Wells Fargo along with dozens of regional banks and credit unions across the country."
  • India Demands that Apple Devices be Embedded with New Government Biometric Security System - Patently Apple - "The report further notes that the new Indian Government "initiative is part of a national biometric identity program called Aadhaar (Hindi for foundation). Millions of Indians use fingerprint and iris-scan authentication to access a range of public and private services that now includes banking. Failure to join the effort could limit the tech industry's access to a vast and growing market, but companies like Apple and Google are expected to resist opening up their phones and operating systems to the Indian registration, encryption and security technology."
  • Bitcoin Technology Harnessed to Push Electricity Revolution - Bloomberg - "Bitcoin technology is starting to seep into the electricity business, shaking up the way payments are managed every time a light switch is flipped."
  • Someone Is Learning How to Take Down the Internet - Lawfare Blog (Bruce Schneier) - "Over the past year or two, someone has been probing the defenses of the companies that run critical pieces of the Internet. These probes take the form of precisely calibrated attacks designed to determine exactly how well these companies can defend themselves, and what would be required to take them down. We don't know who is doing this, but it feels like a large a large nation state. China and Russia would be my first guesses."

ON THE WIRES

  • JPMorgan Chase Signs Best Buy to Accept Chase Pay - "Chase has signed a multiyear agreement for Best Buy (NYSE: BBY) to accept Chase Pay in its stores, on BestBuy.com and in the Best Buy app, the company announced today."
  • CIBC to Join SecureKey Concierge Authentication Service - "SecureKey Technologies, a leading provider of identity and authentication solutions for simplifying consumer access to online applications, today announced that CIBC, a leading Canadian-based global financial institution with 11 million personal banking and business clients, has reached an agreement with SecureKey to become a Trusted Sign-In Partner participating in the SecureKey Concierge™ service, following integration and associated compliance approvals. CIBC is the fifth of the five largest banks in Canada to become a Trusted Sign-In Partner. It joins BMO Bank of Montreal, Choice Rewards MasterCard, Desjardins, RBC Royal Bank, Scotiabank, Tangerine, TD Canada Trust, Caisses Populaires Acadiennes, and Caisses Populaires."
  • Alliance Data's Card Services Business Extends Instant Issuance Capability To Include EMV Technology And Private Label Cards, Helping Brands Increase Credit Card Activation Rates And Enhance The Customer Experience - "Alliance Data Systems Corporation's card services business (www.knowmoresellmore.com), a premier provider of branded private label, co-brand and business credit programs, will extend its Instant Issuance capability to incorporate EMV technology for co-brand cards and offer private label credit cards that can be printed onsite at retail locations, with an eye towards grand openings and other special events. This will enable customers to apply for a credit card and have in-hand within minutes1, driving increased customer satisfaction and an immediate increase in sales."
  • SecValMSP Releases SecValSECURE™ to Bullet Proof Payment Applications - "SecValSECURE™ protects payment applications such as Point of Sales and Premise / Cloud Based Property Management Systems allowing them to run safely and communicate securely even on infected systems. SecValSECURE™ is not intended to be a replacement for PCI Compliance but rather acts to bullet proof payment applications allowing merchants time to implement and operationalize all of the required data security controls. "
  • Varo and The Bancorp Bank Announce Partnership to Support Mobile Checking and Savings Account - "Varo Money, Inc., a mobile-only banking start-up that will help consumers gain greater control of their financial lives, and The Bancorp, Inc. (NASDAQ: TBBK) announced today that they have signed an agreement whereby The Bancorp Bank will provide private label banking services to support Varo mobile checking and savings account products."
  • House Advantage And Sightline Payments Announce An Integration Partnership; Bringing Together Powerful Loyalty Capabilities With An Innovative Payments Platform - "As an integrated solution, Sightline Payments Play+® platform and SPAN™ Network will allow an account holder to transfer funds electronically from their Play+ account, directly to or from the casino and across other customer touch points through House Advantage's award-winning HALoÒ loyalty platform."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

September 13, 2016

Headline News from PaymentsNews.com - September 13, 2016

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

ON THE WEB

  • Incredible India! - Payments Views (Glenbrook’s Scott Loftiness - "A few weeks ago I joined my client Raj Jain, CEO of RS Software, for my third visit to India. RS Software is headquartered in Kolkata which was our first stop for the annual general meeting of shareholders. After that, we visited Mumbai and Bangalore – along the way we met with many of the key individuals helping drive the now rapid change that’s unfolding for payments in India."
  • Senate Banking Committee to Host Wells Fargo Hearing - Wall Street Journal - "The Senate Banking Committee’s Republican majority said late Monday that it expects to hold a hearing on Wells Fargo & Co., which was fined $185 million last week for questionable sales practices."
  • Value-Seekers Warm to a $450 Annual Credit Card Fee - New York Times DealBook - "But the Chase Sapphire Reserve card has done more than generate product hysteria at its finest. It has also intensified the arms race among large credit card issuers, which are introducing increasingly lavish rewards programs to capture affluent consumers who spend large sums on travel and recreation, but no longer want to be bound to one particular hotel or airline’s affinity program."
  • Visa Introduces Mobile-Money Product to Rival Safaricom’s M-Pesa - Bloomberg - "The mVisa app will initially facilitate transactions for people with accounts in four banks, including KCB Group Ltd. and Co-operative Bank of Kenya Ltd., according to Visa Emerging Markets Senior Vice President Uttam Nayak. The company estimates 84 million of Africa’s mobile-phone users still pay by cash."
  • Goldman Sachs wants to put foreign exchange trades on the blockchain - Quartz - "The patent application, published by the US Patent and Trademark Office (USPTO) on Sept. 8, 2016, was originally filed in March 2015. It outlines a distributed ledger (essentially an accounting ledger shared by a number of different parties, also known as a blockchain) that can process financial transactions in the foreign exchange market. It’s Goldman Sachs’ first blockchain-related patent (though another patent application published in Nov. 2015 showed the investment bank was looking at a bitcoin-esque digital currency for traders)."
  • NAB taps Visa Developer programme to revitalise mobile app - Finextra - "» View all retail banking newsNext retail banking story »left image1left image1left image0left image0left image0left image1NAB taps Visa Developer programme to revitalise mobile app2 hours ago | 1366 views | 0Online shopping buy now smartphoneNational Australia Bank is rolling out a series of card-linked enhancements to its mobile banking app, including a 'world-first' feature which enables consumers to use the app to pay for purchases while waiting for the arrival of new Visa credit cards."
  • What’s New at MIT’s Digital Currency Initiative - Medium - "Addressing these problems is vital. Perhaps surprisingly, I think that cryptocurrencies may offer the best chance to do so. That’s why I’m excited to be expanding my role within the MIT Digital Currency Initiative as its new research director. "
  • The bizarre world of bitcoin ‘mining’ finds a new home in Tibet - The Washington Post - "But here in Kongyu, most of the mining is virtual. It is here because of extremely cheap hydropower, cheap wages — and perhaps because Chinese entrepreneurs have a knack for the business."

ON THE WIRES

  • Wells Fargo to Eliminate Product Sales Goals for Retail Bankers - "Wells Fargo & Company (NYSE:WFC), announced today that it will eliminate all product sales goals in retail banking, effective January 1, 2017."
  • Visa and leading banks launch mVisa – Kenya’s first interoperable mobile payments service - "Visa Inc today introduced mVisa, a new mobile payment service that will accelerate digital commerce in Kenya and across Africa. As part of its initial roll-out, Visa has partnered with Co-Operative Bank, Family Bank, KCB, and NIC Bank to deliver this service to Kenyan consumers and merchants. "
  • On-line Sales (Card Not Present Transactions) Driving Need for User Authentication Standards and Better Adoption - "The Electronic Funds Transfer Association (EFTA), which works to advance electronic payments and commerce through responsible federal government relations and member education, today releases its second white paper on, “User Authentication,” which details the benefits and challenges of utilizing user authentication as a component of an overall security strategy. "
  • AnchorID Brings Custom Authentication to Credit Unions - "CU Wallet, a Los Angeles-based provider of white-label digital wallet solutions for regional and community FIs, has picked Finovate Best of Show winner AnchorID to provide multi-factor authentication. "
  • Jack Henry & Associates Integrates Banno Mobile into Core Environments - "As banks and credit unions adjust to rapidly changing consumer expectations, their services must be fast, dependable, flexible, and able to deliver the experience consumers demand. Financial institutions are deploying Banno Mobile to gain not just a list of features, but access to a complete platform that scales across all customer touchpoints. Its integration now to Jack Henry & Associates' cores gives financial institutions the agility to transition their digital channel from a self-service strategy to functioning customer-centric interactions."
  • Carrefour payment cards go mobile in Spain thanks to Gemalto’s proven Trusted Service Hub - "Gemalto (Euronext NL0000400653 GTO),the world leader in digital security, has been chosen by Market Pay, payment institution of the world’s second biggest retailer, to deploy a mobile payment solution for its “PASS” banking card in Spain. This project is part of a multi-channel strategy that leverages connected technologies to further enhance the shopping experience."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

September 12, 2016

Headline News from PaymentsNews.com - September 12, 2016

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

ON THE WEB

  • Facebook Messenger now allows payments in its 30,000 chat bots - TechCrunch - "To support payments in Messenger, Marcus says that the company is working with all the major players in the industry including Stripe, PayPal, Braintree, Visa, MasterCard and American Express."
  • CBA and Barclays announce UK-Australia mobile payments solution - Delimiter - "In a statement on the CommBank website, the firms said their retail customers will soon be able to move money between the two countries using “just a mobile number”. The payments will be enabled via a linkup between the two banks’ respective payment apps – CBA’s CommBank app and Barclays’ Pingit – to provide what they called a “seamless, secure and simple process for moving money across continents”."
  • The Blockchain: An Experiment in Governance Without Power - Coindesk - "According to conventional political ideas a decentralized and wholly voluntary system of governance should not be possible, let alone optimal. The success of bitcoin as a monetary and social experiment therefore could depend on shattering this very narrative.

 Unlike other systems, its organization is not defined by power structures, but by voluntary consensus and open competition."
  • Amex enables loyalty points for purchases - American Express Canada - "American Express Canada is enabling cardmembers to use rewards points to pay for purchases charged to their card. "

ON THE WIRES

  • Mastercard Chip Momentum: Reducing Fraud One Year In - "Mastercard fraud data shows a 54 percent decrease in counterfeit fraud costs at U.S. retailers who have completed or are close to completing EMV adoption, when comparing April 2016 to April 2015. Demonstrating the power of EMV and the risk of not adopting it, counterfeit fraud costs increased by 77 percent year-over-year among large U.S. merchants who have not yet migrated or have just begun the migration to chip."
  • Elavon & talech Launch Tablet Payment Solution in Canada for Small and Mid-Sized Businesses - "Elavon, a leading global payment solution provider and subsidiary of U.S. Bancorp (NYSE: USB), is launching a tablet-based payment solution in Canada that will provide small and medium-sized businesses with secure, interactive payment processing, powerful data analytics and affordability to help businesses effectively manage and grow their businesses."
  • VC Blockchain Investments Approach $300 Million in H1 2016 as Banks Lead Deployments - "A new study from Juniper Research has found that the total value of Venture Capital (VC) investment into blockchain technologies and Bitcoin companies totalled $290 million in the first 6 months of the year, with more than 30 startups receiving funding in that time."
  • Guardian Analytics® and Ocean Systems, Inc., Announce Joint Partnership to Expand Real-time Wire Fraud Prevention to FedLink Customers - "Guardian Analytics, the market leader in behavioral analytics solutions for preventing banking fraud, today announced a partnership with Ocean Systems, Inc (OSI), a software development company specializing in solutions for the financial and banking market, including their flagship wire service, FedLink. Together, the two firms have established a technical partnership at the request of their joint customers to ensure out-of-the box integration between FedLink and Guardian Analytics Wire. This integration will ensure faster time to deployment and real-time wire fraud protection for FedLink customers."
  • BrightHouse Makes Sure The Customer Comes First With New SMS and Mobile-Based Payments - "Fast-growing customer engagement leader VoiceSage has just announced that BrightHouse, the UK’s leading rent-to-own retailer, has introduced a new self-service mobile payments system to help customers make payments promptly and conveniently."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

September 09, 2016

Headline News from PaymentsNews.com - September 9, 2016

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

ON THE WEB

  • Wells Fargo to Pay $185 Million Fine Over Account Openings - Wall Street Journal - "Wells Fargo & Co. was slapped with a $185 million fine Thursday for “widespread illegal” sales practices that included opening as many as two million deposit and credit-card accounts without customers’ knowledge, federal and local authorities said."
  • Blockchain Requires Radical Change, Not Compromise - Coindesk - "Blockchain and distributed ledger technology are radical. Together, they could transform the way finance works, but people in the financial world are creatures of habit and old practices die hard. So, if these technological advances are to transform finance, they need to be championed by key financial organizations."
  • Revel Systems inks payments deal with Shell as rumors swirl of a sale to IBM - TechCrunch - "Reports claim that point-of-sale startup Revel Systems is in early acquisition negotiations with IBM, and while both Revel and IBM declined to comment when we asked about it, a deal that the startup announced today could provide an interesting clue for why a company like Big Blue might be interested in buying it. Today Revel announced a deal with Shell, the oil and gas giant, to implement its point-of-sale system across its retail network of gas stations globally."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

September 08, 2016

Headline News from PaymentsNews.com - September 8, 2016

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

ON THE WEB

  • MasterCard Facing Damages Claim of $18 Billion Over High Swipe Fees - Wall Street Journal - "LONDON— MasterCard Inc. is facing a damages claim of £14 billion ($18.72 billion) on behalf of U.K. consumers who were allegedly charged higher prices because of the card giant’s high swipe fees. The claim, filed Thursday in the Competition Appeal Tribunal, was described as the biggest in U.K. legal history by former Chief Financial Services Ombudsman Walter Merricks, who is bringing the claim."
  • Apple Pay comes to Japan, New Zealand and Russia this fall; hits the web on September 13 - Tech Crunch - "Apple Pay will arrive in three more countries this fall: Japan, New Zealand and Russia, and will hit the web alongside the launch of iOS 10 on September 13th. The web version of Apple’s payments service will be made available to Safari users on any Mac introduced from 2012 on, which is also running the latest operating system, macOS Sierra."
  • Workers Paid by Card Will Gain Protections in New York State - New York Times - "Workers in New York State who receive their wages on prepaid cards will gain consumer protections next year that advocates say are among the strongest in the nation. The new rules are intended to guarantee that employees do not have to pay any fees to gain access to their paychecks."
  • G20 proposes global platform to eliminate ecommerce barriers - The Paypers - "G20 summit has proposed the creation of a global ecommerce platform to eliminate barriers in online trade. B20 group, comprising business leaders from G20 countries, raised the idea of an electronic world trade platform (eWTP), as a policy recommendation to be considered during the two-day summit which opened in Hangzhou on Sunday."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

September 07, 2016

Headline News from PaymentsNews.com - September 7, 2016

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

ON THE WEB

  • iZettle buys intelligentpos to expand from mobile payments to commerce solutions - Tech Crunch - " iZettle — the Swedish mobile payments startup backed by the likes of Intel, American Express and Spanish banking giant Santander — has bought intelligentpos, whose cloud-based software lets businesses in the hospitality and other industries manage their inventory, loyalty programs and customer flow."
  • Walmart boosts MoneyGram co-branded money transfer service with mobile tools - Mobile Commerce Daily - "Walmart is teaming up with money transfer service MoneyGram to launch an upgraded version of the platform on walmart.moneygram.com, bringing new mobile money management tools to the retailer’s customers. The newly enhanced site is built on MoneyGram’s Money Transfer as a Service platform, which allows brands such as Walmart to co-brand the service and open up new marketing opportunities to users."
  • Barclays Completes Blockchain Trade Finance Transaction - Coindesk - "Barclays reported today that two partners (agriculture co-operative Ornua and food product distributor Seychelles Trading Company) were able to successfully transfer trade documentation via a blockchain platform created by its accelerator program graduate, Wave."
  • Opportunity for fintech entrepreneurs — up to $100k and 6 months support for your idea - Caribou Digital - "Announcing a great opportunity for entrepreneurs interested in launching a developing world fintech startup! Join Caribou Digital’s DFS Lab team for a 1-week bootcamp in Dar es Salaam with top experts and win 6-months support for your concept."

ON THE WIRES

  • Masterpass Adoption Delivers Simple and Secure Digital Payment Experiences for Consumers, Issuers and Merchants Around the World - "The continued transformation of Mastercard to an even more digital company continues to be driven by the rapid growth, support and success of Masterpass, the company’s digital payment service. As part of this momentum, Mastercard today announced issuers and merchants around the globe that are making Masterpass available to their customers, enabling fast, simple and secure digital payment experiences across devices and channels – online, in-app and in-store."
  • SunTrust: Electronic Payments Can Help Businesses Combat the Number One Cause of Fraud - "Even in the internet age, companies still make more than 57 percent of all payments through paper-driven processes and checks, according to a survey by SunTrust Banks, Inc. (NYSE: STI) of middle market and small business executives. Not only can these non-electronic processes have a negative impact on a company's cash flow and balance sheet, but also they can significantly increase exposure to fraud. In fact, 73 percent of organizations have experienced actual or attempted fraud, with non-electronic processes the number one source of fraud according to the 2016 AFP Payments Fraud and Control Survey."
  • TreasuryXpress Launches New Online Store for On-Demand Treasury Technology - "TreasuryXpress, global leader in frictionless and on-demand treasury management solutions today announced the launch of the TreasuryXpress Lab, the industry's first online store. "The Lab" offers a growing portfolio of both standalone and add-on financial and treasury products. The store allows treasuries and companies of all sizes to pick, choose, and use the capabilities they need to automate their finances on-demand and in the Cloud."
  • Chase Visa Cardholders Can Now Use Android Pay - "Chase customers with Android Pay-enabled devices can make purchases with their phone at millions of store locations nationwide that accept contactless payments, and within many Android apps. Chase cardholders maintain all of the rewards, benefits and services they have come to expect when using their Chase Visa credit and debit cards."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

September 06, 2016

Headline News from PaymentsNews.com - September 6, 2016

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

ON THE WEB

  • Expanded Frontiers in Mobile Payment - Glenbrook’s Payments Views (Elizabeth McQuerry) - "One of the payments obsessions here at Glenbrook is understanding the ways in which mobile payment and digital financial services are taking hold around the world. Once effectively limited to the early success of M-PESA and P2P payment in Kenya, today there are a number of services underway. M-PESA itself, in around a decade, has evolved to offer bill payment, savings options, small loans and is also working on merchant payments. "
  • New Cards Chip Away at Payment Companies - Wall Street Journal - "VeriFone said it hasn’t seen any significant change in its market share. But investors could be worried about new, cheaper alternatives luring in small merchants. In emerging markets, competition comes from low-cost providers like China-based PAX Global Technology. In the U.S., Square offers a chip reader that connects to a mobile device and costs just $49, a fraction of the price of an Ingenico or VeriFone terminal."
  • Ingenico Falls After Cutting 2016 Sales, Margin Forecasts - Bloomberg - "Ingenico’s announcement adds to evidence that the shift in the U.S. to payment cards with chips is problematic for the industry. Verifone Systems Inc. on Thursday cut its sales and profit forecasts, citing weakening demand in the U.S. Large merchants there have already shifted to payment terminals that accept credit and debit cards with chips, while smaller merchants are delaying adoption. In Brazil, the economy has shrunk for six straight quarters, damping retail activity and thus hurting payments companies. "
  • PayPal Strikes Deal with MasterCard to Allow Payments in Stores - Wall Street Journal - "The company has said the network deals, which will see PayPal place debit and credit cards on par with other ways to pay, make PayPal a “ubiquitous” payment tool. It argues that volume growth would outpace declines in revenue per transaction, and that merchants would want to pay for PayPal because it works seamlessly for every customer. The deals would also help its relatively newer services, such as Braintree, which processes payments for big merchants, and Venmo, a social peer-to-peer payments app popular with millennials."
  • Mobile is heaviest used banking channel as transactions multiply: report - Mobile Commerce Daily - "The survey found that 40 percent of consumers report having using mobile banking within the past 30 days, a number that jumps to 77 percent of early millennials. Of this 40 percent, 51 percent said they use the service more now than a year ago. Among users of mobile bill pay, 47 percent use it more now than a year ago."
  • Brits still not 100% sure about security of mobile payments - Contactless Intelligence - "“Part of the reason for the rapid increase in the use of contactless cards is the simple fact that they are now much more widely accepted. They’ve moved beyond coffee shops and sandwich bars and are now entirely commonplace. However, the real shift in behaviour has only come over the last few years. It’s easy to forget that contactless cards were first launched back in 2007, meaning that the technology has been on British high streets for almost a decade. People’s payment habits change slowly, as can be seen with the cheque’s stubborn refusal to disappear from the payments landscape,” said Rich Shepherd, Financial Services Analyst at Mintel."

ON THE WIRES

  • PayPal and Mastercard Expand Partnership to Benefit Consumers, Merchants and Financial Institutions - "Under the expanded partnership, consumers and small businesses will be able to instantly cash out funds held in their PayPal accounts to a Mastercard debit card. PayPal will also be provided certain financial volume incentives and, as a result of the commitments made under this agreement, will no longer be subject to the digital wallet operator fee."
  • PayPal’s Braintree to Offer Visa Checkout – Expanding Choice for Merchants and Consumers - "Braintree, a PayPal company that powers payments for companies like Airbnb, Eventbrite, Pinterest and Uber, offers simple solutions that enable merchants to accept a variety of payment options online, in app and in-stores, and soon Visa Checkout will be available as one of Braintree’s payment options. The online payment service allows Visa cardholders to pay on any connected device, in just a few clicks, using their Visa account. Visa Checkout is already part of the shopping experience at many leading online retailers including Starbucks, Walgreens and Best Buy."
  • Over 80% of Merchants in the US Accept UnionPay Credit Cards - "It is learnt on September 1 that almost all the ATMs in the US accept UnionPay cards for cash withdrawal and over 80% of the local merchants accept UnionPay credit cards. In tourists' favorite destinations like New York, Hawaii, San Francisco, Los Angeles, Orlando and Chicago, UnionPay's acceptance coverage in well-known shopping centers and Outlets has exceeded 90%. With one UnionPay debit card and one UnionPay credit card (card numbers both start with 62), cardholders can pay with ease and benefits in the US."
  • Basic Wearables Soar and Smart Wearables Stall as Worldwide Wearables Market Climbs 26.1% in the Second Quarter, According to IDC - "While the overall wearables market grew during 2Q16, its two categories traveled at different speeds and directions. Basic wearables (devices that do not support third party applications) grew 48.8% from 2Q15 levels while smart wearables (devices that support third party applications) declined 27.2% year over year."
  • Revel Systems Announces Partnership with Punchh - "Revel Systems, the world's leading iPad Point of Sale management solution for brick-and-mortar retail, food businesses and more, today announced they are partnering with Punchh, the premier provider of Mobile Engagement, CRM and Marketing Automation technologies for enterprise restaurant chains."
  • WEX Enters into Agreement with Ypsilon.Net AG - "WEX Inc. (NYSE: WEX), a leading provider of corporate payment solutions, has today announced that they have entered into an international agreement with Ypsilon.Net AG, a global provider of internet travel technology and payment solutions for airlines, consolidators, travel portals and travel agencies. With the agreement in place, WEX is expanding its presence within the travel payment space in Germany."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

September 02, 2016

Headline News from PaymentsNews.com - September 2, 2016

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

ON THE WEB

  • The Company Quietly Handling Your Online Purchases - Bloomberg - "Adyen processed $50 billion in transactions in 2015, and has become Silicon Valley’s payment system of choice."
  • Ad-blocking browser Brave launches payments, so you can support sites with cash, not ad clicks - Tech Crunch - "The ad-blocking web browser Brave, co-founded by Mozilla’s former CEO Brendan Eich, is today rolling out its grand experiment “Brave Payments,” which will encourage web users to reward their favorite sites by automatically and anonymously sending them Bitcoin-based micropayments. The idea here is fairly radical — online publishers have always relied on ad revenue to fund their sites, but Brave believes they would be happy to go ad-free if people were willing to fund them directly."
  • Visa Incubator to Test Blockchain for Interbank Payments - Coindesk - "Visa’s London-based innovation lab has announced its latest blockchain trial will focus on interbank payments. Visa Europe Collab revealed today it has partnered with Toronto-based BTL Group to explore how the startup’s interbank settlement system can leverage blockchain and smart contracts to streamline domestic and cross-border payments between banks."
  • Microsoft Launches Smart Contracts Security Working Group - Coindesk - "Microsoft has revealed it is organizing a working group dedicated to improving smart contracts security. Named 'Kinakuta', the group aims to make it easier for the industry to share information and tips about smart contracts, the term that somewhat loosely has come to refer to self-executing blockchain-based code."
  • The Traditional Customer Journey No Longer Exists - Mediumhttps://medium.com/@ProphetBrand/the-traditional-customer-journey-no-longer-exists-efac2d4088ce#.9v04d7fj3 - "Customer experience used to have a clear beginning, middle and end. And most customers followed a similar path. But traditional customer journeys no longer exist. Today, these experiences are non-linear, unpredictable, and shared; and only a few companies are taking advantage of this new reality. "

ON THE WIRES

  • PSCU and Glenbrook Release White Paper: Blockchain and the Credit Union: The Asset Transfer Revolution - "PSCU, the nation’s leading Credit Union Service Organization, and Glenbrook Partners, a payments industry strategy consulting and research firm, have collaborated on a white paper on blockchain technology and its potential for credit unions. The newly released white paper is now available for download online. Anyone interested in taking a deeper dive into the research can participate in a webinar on October 5."
  • Boku Raises $13.75 Million in Further Venture Funding - "Boku, the world’s largest direct carrier billing mobile payments company, is pleased to announce that it has secured $13.75 million in further venture funding to expand carrier billing across numerous carrier connections in developed and emerging markets around the globe."
  • Givex Launches Online Gift Card Customization for Small Business - "Givex, the proven platform for customer engagement and operational efficiency since 1999, announced today the launch of its latest innovation – an online gift card purchasing site and card builder for small businesses."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

September 01, 2016

Headline News from PaymentsNews.com - September 1, 2016

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

ON THE WEB

  • HSBC and GE go digital to fight rivals - Mobile World Live - "“If we don’t respond, we’ll have non-banks like Tencent, Alibaba and others moving in and taking our market share. Fin-techs are biting at our margins and we need to respond.” West said the bank aims to eliminate paper, improve the customer experience, improve controls and reduce costs. He predicts that in five years there will be no paper used at the bank and no more passwords, which are a major pain for customers."
  • Nigeria’s Central Bank is backtracking on plans to ban operators disrupting remittances - Quartz - "But almost a month later, the bank has seemingly reversed its decision. Adopting less stringent guidelines from 2014, the bank has issued licenses to eleven new MTOs. The bank says the change in tack is part of efforts to “liberalize the foreign exchange market, ensure liquidity and make foreign exchange more readily available to low end users.” "
  • Now You Can Earn Free Uber Rides By Shopping At Local Stores - Fast Company - "A new rewards program from Uber and Visa is kind of like earning air miles, except you get free Uber rides. "
  • Google Said to Tie Up With MUFG on Android Pay Mobile Payments - Bloomberg - "Starting as early as Japan’s autumn, users of certain Android-based mobile phones will be able to use MUFG’s debit cards for transactions made through Android Pay, the person said, asking not to be identified because the matter is private."
  • Xiaomi introduces mobile payment solution Mi Pay with support for cards from 20 banks in China - Android Police - "Chinese users with a Xiaomi phone will have one more option now: Mi Pay. Launching today with China UnionPay, a large payment network similar to Visa and Mastercard, Mi Pay supports credit cards from 20 banks and debit cards from 12, including Bank of China, Industrial and Commercial Bank of China, China Construction Bank, Bank of Communications, and China Merchants Bank, as well as public transportation cards from six cities (that's another known payment method in China). The Mi Wallet app can tie up to 8 cards to one Xiaomi device and its users will also benefit from promos and rewards."

ON THE WIRES

  • China Union Pay Audio Bank Cards- Qilong and China Union Pay Will Jointly Issue Audio Bank Cards - "The card holders will be able to use their Audio Bank Cards directly on traditional phones, smart phones, computers and tablets. The Audio Bank Card can function as a regular bank card as well. Its audio recognition system greatly advances the safety of making payments and reduces the risks associated therewith. An end user may simply follow three steps to complete a transaction: 1) choose an Audio Bank Card to make the contemplated payment, 2) press the button on the card to help the back desk recognize the card, and 3) enter the passcode to complete the transaction. The Audio Bank Card will simplify the payment process and therefore save users' time. "
  • Kimpton Hotels & Restaurants Notifies Customers of Payment Card Incident - "Findings from the investigation show that malware was installed on servers that processed payment cards used at the restaurants and front desks of some of our hotels. The malware searched for track data read from the magnetic stripe of a payment card as it was being routed through the affected server. The malware primarily found track data that contained the card number, expiration date, and internal verification code, but in a small number of instances it may have found the track that also contains the cardholder name. "
  • Blackhawk Network to Acquire Grass Roots Group - "United Kingdom-based provider of employee engagement and customer engagement services will expand Blackhawk's growing incentives business portfolio"
  • New Digital River White Paper, "The Subscriptions Generation," Guides Companies Shifting to an Online, Global Subscriptions Strategy - "The white paper explores how the consumer’s growing desire for access over ownership is creating a shift in online purchase preferences and explains how brands can capitalize on this trend by taking a subscriptions business global."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

August 31, 2016

Headline News from PaymentsNews.com - August 31, 2016

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

ON THE WEB

  • News: Walmart pay exceeding expectations - The Wise Marketer blog - "More evidence that retailers are winning the battle for mobile payments loyalty through homegrown platforms: in his kickoff address at last week's CONNECT Mobile Innovation Summit in Chicago, Walmart Services SVP Daniel Eckert revealed that Walmart Pay, the retailer's proprietary mobile payment app, already boasts 20 million active users in the two months since its June launch across its 4,600 US stores."
  • Insurance Giant MetLife Joins R3 Blockchain Consortium - Coindesk - "In the latest sign that the insurance industry is embracing blockchain and distributed ledgers, MetLife has announced it will join banking consortium R3CEV."
  • Huawei Pay Mobile Payment Service in Collaboration with UnionPay Launched in China - Phone Radar - " Instead of getting a new license, the company opted to collaborate with Union Pay. By the time of launch, Huawei Pay supports 25 banks and also the travel card for buses. The Huawei Mate S launched at IFA 2015 is the first Huawei device to support mobile payments. It came included with NFC, Fingerprint sensor and built-in security chip."

ON THE WIRES

  • QikServe and FreedomPay Address the EMV Challenge in Hospitality - "QikServe's patented 'Waiter in Your Pocket' technology lets guests order and pay for their food and drinks directly from a smartphone, web site or kiosk. The integration with FreedomPay's Commerce Platform enables QikServe to quickly deploy mobile ordering solutions that require traditional and emerging payments technologies like magstripe, EMV, ApplePay and near-field communication (NFC)."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

August 30, 2016

Headline News from PaymentsNews.com - August 30, 2016

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

ON THE WEB

  • Merchants Just Want to Sell Stuff - Payments Views (Glenbrook’s Allen Weinberg) - "Anyone who’s been in a Glenbrook Payments Boot Camp session with me has heard me emphatically stress that merchants “just want to sell stuff – they don’t want to be in the payments business”."
  • Aadhaar-Based Cash Transfers: Promising Reform, but More Data Needed - Center for Global Development - "India’s shift towards direct benefit transfers (DBTs) is on the fast track. According to official statements, in the 2015-16 fiscal year the central government deposited nearly $5 billion of subsidy and welfare payments directly into the bank accounts of 300 million beneficiaries. It has also set an ambitious target to transfer all payments to the Aadhaar-based biometric DBT platform by the end of 2017. This will surely be the greatest subsidy reform in the world, but we need more data to accurately evaluate its impact."
  • Why Walmart Pay Doesn’t Measure Up To CVS, Starbucks And Taco Bell - Bryan Pearson blog (Forbes writer) - "Rewards, frequency, fringe benefits. Of all the features that describe a trip to Walmart, these are not high among them. Yet they may form the backbone of a successful retail payment app. Early reports indicate Walmart Pay, which launched nationally July 6 following seven months of testing, is struggling to get traction. The absence of these elements may be why."
  • How Same Day ACH Can be Advantageous for Small Businesses - Pay Simple Blog - "If your business does use ACH, you’ve probably heard rumblings about “Same Day ACH” which has been in the news recently as the date for initiating Phase 1 of the program approaches. That date is September 23, 2016. For consumers and businesses alike, it means the ability to move money faster, which is in most cases a good thing. But, will Same Day ACH help your small business operate more efficiently? If your business can benefit from sending and receiving funds more quickly, and the benefit warrants paying a premium for it, then Same Day ACH will be a welcome enhancement."
  • Get ready for Apple Pay on the Web - Stripe Blog - "Apple Pay on the Web will be available later this fall. (Apple has not yet published an exact date.) We’ve received a lot of questions about how the integration will work and we’ve been working closely with Apple to ensure that the implementation will be quick and easy for Stripe users."
  • Singapore Central Bank Proposes New Rules for Bitcoin Startups - Coindesk - "The proposed framework would require applicable companies to obtain a license from the Monetary Authority of Singapore (MAS), and divides payment activities into several categories. Digital currency exchanges would be covered by a provision overseeing startups that provide "money transmissions and conversion services"."

ON THE WIRES

  • Billtrust launches Quantum, the innovative end-to-end solution for Payment Cycle Management - "Today Billtrust announces the launch of Quantum Payment Cycle Management, a comprehensive, cloud-based, invoice-to-cash solution. Quantum supports businesses by improving efficiency, accelerating cash flow, and increasing customer satisfaction rates."
  • Online Purchases via Apple Pay & Android Pay to Reach $8Bn by 2018, Up Fifteen-fold from 2016 - "New findings from Juniper Research claim that the value of digital and physical goods purchased through mobile 'OS-Pay' platforms will increase by fifteen times in the next two years. A combination of in-app purchases and website retail payments is projected to drive annual spend via Apple Pay and Android Pay to $8 billion in 2018, up from $540 million this year."
  • Retail Takes Lead in Advanced Indoor Sensing as IoT Grows - "Retail has emerged as the most active adopter of advanced indoor sensing (AIS), a diverse toolkit of capabilities and technologies that offers strong potential to drive topline increases, rather than cost-related reductions, according to Lux Research."
  • Mobile Phones Replace Checkbooks, Fingerprints Trump Passwords, Says Fiserv Research - "The perception of security plays a key role in whether consumers choose to adopt a technology. Biometric security appears to have the potential to provide people with greater assurance than more conventional measures. While 41 percent of consumers indicated they would feel secure using a password as an authentication method to confirm their identity when using a mobile app, 62 percent said they would feel secure using fingerprint technology. This could have significant implications for overcoming consumer security concerns related to mobile payment methods."
  • Uber and Visa Introduce ‘Local Offers’ Program to Help Merchants Tap Into Local Spend Opportunities - "Uber and Visa Inc. (NYSE: V) today announced Uber Local Offers, a new way for riders to earn discounted rides by simply using the same Visa credit card on file with Uber at their favorite local merchants*. With Uber Local Offers, Uber riders get more out of shopping and dining, while merchants get a simple new way to acquire customers, drive loyalty and increase sales. Local Offers will initially be rolled out in phases to Uber riders in San Francisco and Los Angeles."
  • OT Introduces Flybuy, a Complete Range of Wearable Options Enabling Secure Payment on the Go - "According to IHS Technology, the number of wearable devices used for payments is projected to increase from 10 million units in 2015 to over 150 million units in 2020. As a pioneer in this market with the first payment sticker and keyrings, OT has been very active working with banks, processors and partners to propose a comprehensive range of wearable options."
  • New Micro Loan Lender Goes Completely Mobile, Bank Account Not Required - "CashOnCell is shaking up the traditional payday loan industry by offering small convenient loans that can be added to your cell phone bill."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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