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May 03, 2017

Headline News from PaymentsNews.com - May 3, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

May 02, 2017

Headline News from PaymentsNews.com - May 2, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

May 01, 2017

Headline News from PaymentsNews.com - May 1, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

April 28, 2017

Headline News from PaymentsNews.com - April 28, 2017

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

ON THE WEB

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

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

April 26, 2017

Headline News from PaymentsNews.com - April 26, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

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

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

UPDATES FROM GLENBROOK

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

April 25, 2017

Headline News from PaymentsNews.com - April 25, 2017

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

ON THE WEB

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

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series will be in Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out our spring schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

April 24, 2017

Headline News from PaymentsNews.com - April 24, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series will be in Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out our spring schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

April 21, 2017

Headline News from PaymentsNews.com - April 21, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series will be in Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out our spring schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

April 20, 2017

Headline News from PaymentsNews.com - April 20, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series will be in Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out our spring schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

April 19, 2017

Headline News from PaymentsNews.com - April 19, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out our spring schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

April 18, 2017

Headline News from PaymentsNews.com - April 18, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out our spring schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

April 17, 2017

Headline News from PaymentsNews.com - April 17, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out our spring schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

April 13, 2017

Headline News from PaymentsNews.com - April 13, 2017

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

ON THE WEB

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

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out our spring schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

April 12, 2017

Headline News from PaymentsNews.com - April 12, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out our spring schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

April 11, 2017

Headline News from PaymentsNews.com - April 11, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out our spring schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

April 10, 2017

Headline News from PaymentsNews.com - April 10, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out our spring schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

April 07, 2017

Headline News from PaymentsNews.com - April 7, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out our spring schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

April 06, 2017

Headline News from PaymentsNews.com - April 6, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out our spring schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

April 05, 2017

Headline News from PaymentsNews.com - April 5, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out our spring schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

April 04, 2017

Headline News from PaymentsNews.com - April 4, 2017

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

ON THE WEB

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

ON THE WIRES

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

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out our spring schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

April 03, 2017

Headline News from PaymentsNews.com - April 3, 2017

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

ON THE WEB

  • Amazon launches Amazon Cash, a way to shop its site without a bank card - TechCrunch - "Amazon this morning announced the launch of Amazon Cash, a new service that allows consumers to add cash to their Amazon.com balance by showing a barcode at a participating retailer, then having the cash applied immediately to their online Amazon account. The service will support adding any amount between $15 and $500 in a single transaction, Amazon says."
  • FICO: Debit Card Fraud Spiked in 2016 - CU Info Security - "Despite a years-long move to shore up the security around payment cards in the U.S., certain types of fraud are on the rise."
  • Uber rival Grab makes first major acquisition to build out its payments platform - TechCrunch - "Grab, Uber’s biggest rival in Southeast Asia, has completed its first major acquisition after it bought up Indonesian startup Kudo to boost its nascent mobile payments platform."
  • Payments Startup Omise Joins Wave of Digital-Coin Fundraising - Bloomberg - "Omise, a Bangkok-based startup backed by Japan’s SBI Investment, plans to raise as much as $16 million selling digital tokens as it builds a new payment service based on blockchain technology."
  • How Cornell Researchers Are Quietly Reinventing Private Blockchains - Coindesk - "Researchers might seem like an unlikely group to probe the private blockchain sphere, where the major players are a mix of banks and tech behemoths. But at least a few Cornell University researchers from the Institute for CryptoCurrencies & Contracts have turned some of their attention toward permissioned implementations in an effort to improve them."
  • COMMENTARY: Why Big Banks Shouldn't Own the Road to Faster Payments - Digital Transactions News - "Lately, the Federal Reserve Board has been shepherding a cross-industry effort to build a faster, more efficient, and more secure payments system in the United States. As that commendable effort heads into its home stretch, one big question stands out glaringly, but has largely gone unaddressed: How much influence should the nation’s big banks have in putting this faster-payments scheme together?"
  • Why I Always Tug on the ATM - Krebs on Security - "Once you understand how easy and common it is for thieves to attach “skimming” devices to ATMs and other machines that accept debit and credit cards, it’s difficult not to closely inspect and even tug on the machines before using them. Several readers who are in the habit of doing just that recently shared images of skimmers they discovered after gently pulling on various parts of a cash machine they were about to use."

ON THE WIRES

  • TMG IS NOW PART OF CO-OP. - "On April 3, 2017, CO-OP Financial Services announced it has acquired TMG. This acquisition unites the credit union industry's best in credit processing with the best in debit processing and network delivery. Together, we look forward to offering credit unions a single point of entry to the most innovative, tailored and cost-effective payments products in the marketplace, along with a scale of processing that's second to none. Exactly what you need to deliver a seamless and secure experience in the rapidly evolving world of payments."
  • Citi Finds Shift Away from Cash by Underbanked Could Save Developed Economies $30 Billion - "Two billion people worldwide don’t have any kind of bank account, and according to Citi a 10% increase in digital money adoption would allow 220 million people to enter the formal financial sector. So it’s a concern that the gap between those at the top of the Index and those at the bottom is widening, with countries at the top seeing average improvement of 3% over the past three years and those at the bottom just 0.5%."
  • WEX Expands Asian Virtual Payments Solution to Singapore - "WEX Inc. (NYSE: WEX), a leading provider of corporate payment solutions, today announced that it will begin issuing virtual credit cards in Singapore, expanding its program in the Asian region that currently includes Hong Kong and Thailand."
  • Factor4 Gift Card App Now Available in First Data Clover® App Market - "Factor4, LLC's gift card platform, RewardOS, is now available in First Data's Clover® App Market. Now merchants can extend the value and functionality of their Clover POS with a fully-integrated Gift Card Program solution from Factor4. The solution features low monthly program fees and provides unlimited gift card transactions, reports access, and support. There are no transaction fees. Factor4 has a white label program to enable ISO customers to have their own Clover app."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out our spring schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

March 31, 2017

Headline News from PaymentsNews.com - March 31, 2017

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

ON THE WEB

  • ACCC knocks back the banks on Apple Pay - Financial Review - "The competition regulator has rejected an application by the banks to collectively negotiate with technology giant Apple over access to the iPhone's "near field communication" (NFC) controller."
  • UK regulator calls for banks to tighten cancellation processes for stolen contactless cards - NFC World - "The UK’s Financial Conduct Authority (FCA) has set out a series of measures it plans to undertake in order to tighten the processes banks undergo when a customer reports a stolen contactless card, which currently allow — in a “limited set of circumstances” — for a stolen contactless card to be misused by fraudsters “several months after it has been cancelled”."
  • Russian e-commerce market hits new highs to reach €16 billion - Payments Cards & Mobile - "The Russian e-commerce was worth €14.85 billion in 2016, an increase of 20% when compared to 2015, and is expected to rise rapidly to reach €16.14 billion at the end of 2017."
  • Facebook introduces personal fundraising tools, donate buttons in Facebook Live for Pages - TechCrunch - "Facebook today announced it’s expanding its set of online fundraising tools to include its own GoFundMe competitor, with the added support for personal online fundraisers, starting first in the U.S. The new tool will allow Facebook users to raise money for personal crises and other campaigns — like school or medical expenses, emergency situations, funerals and more. In addition, the company is adding the ability for Facebook Pages to add a “donate” button to their live broadcasts on the network."
  • PCI Looking to Grow the Payments Security Ecosystem with New Certifications - Payments Afrika - "There is a growing complexity in the payments security landscape. As the ecosystem evolves and more devices become connected, so too do the associated risks. Speaking before the PCI Middle East and Africa Forum held in Cape Town this week, Mauro Lance, Chief Operating Officer at the PCI Security Standards Council acknowledged that the profile of South Africa is growing in the payments space, and this makes it a more attractive target for potential fraud and security breaches."
  • Face recognition tech still insufficient for security - Korea Herald - "The facial recognition technology equipped in Samsung Electronics Co.'s new flagship smartphone, the Galaxy S8, will not be sufficient to guarantee the phones' security, industry sources said Friday. "The phones can be unlocked by the face of a sleeping person, or even just by a photo," an industry watcher said. "For now, the facial recognition technology is only intended for fun. It should not be considered as a foolproof security measure.""
  • Economic growth in the US: A tale of two countries - Vox EU - "The rise of economic inequality is one of today’s most hotly debated issues. But a disconnect between the different data sets used to measure and understand inequality makes it hard to address important economic and policy questions. In this column, the authors highlight the findings from their attempt to create inequality statistics for the US that overcome the limitations of existing data by creating distributional national accounts."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out our spring schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

March 30, 2017

Headline News from PaymentsNews.com - March 30, 2017

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

ON THE WEB

  • Two Remarkable Women – And the Mobile Payments Systems They Have Built - Glenbrook’s Payments Views (Carol Coye Benson) - "I had the good fortune last week to be part of the Glenbrook team attending the FinTechStage Inclusion Forum in Jakarta. Happily, among the attendees were two women I have known for several years: Maha Bahou of the Central Bank of Jordan and Carolina Trivelli of Pagos Digitales Peruanos. Peru and Jordan are two of several countries around the world that are aggressively moving to establish market-wide digital payments platforms designed to increase financial inclusion."
  • HSBC and First Direct to get VocaLink Pay by Bank app - Banking Tech - "VocaLink’s Pay by Bank mobile payment app will soon be available to customers of HSBC and its subsidiary, First Direct. Pay by Bank app, created by VocaLink’s payment innovation team Zapp, enables people to make “digital debit” payments for goods and services via their banking app, with payment made directly from a current account."
  • WeChat Expands in Europe in Bid for Global Advertisers, Payments - Bloomberg - "WeChat, China’s most popular social media and messaging service, has launched a new bid in Europe and the U.S. to develop its payments offering and win new advertisers."
  • Samsung reveals S8 with multi-biometrics, Samsung Pay reaches quarter of a billion transactions and adds online payments - NFC World - "Samsung has unveiled its latest Galaxy S8 and S8 Plus flagship devices, with support for iris and facial recognition technology and a fingerprint sensor which is now located on the back of the phone. Samsung Pass deals with major banks, an expansion of Samsung Pay to include online payments and details of its Bixby virtual assistant have also been announced."
  • Want Contactless Payments in the U.S.? Don’t Hold Your Breath, Say Industry Experts - Digital Transactions News - "Contactless payments may seem like the next evolution of the U.S. payments industry, but the challenges confronting that technology may be greater than those of the ongoing chip migration, industry observers suggested on Tuesday at an industry trade show."
  • Chain and Thales Interlock for Blockchain Key Security Solution - Coindesk - "The partnership will see Chain bridging its enterprise-focused blockchain software capabilities with the nShield hardware security module (HSM) developed by Thales. The move comes shortly after Thales unveiled a blockchain offering in conjunction with professional services firm Accenture."
  • Kafka Is Alive and ‘He Works at Bank of America,’ Says a Bankruptcy Judge - Wall Street Journal Moneybeat - "A bankruptcy judge is taking Bank of America Corp.’s mortgage-handling business to task, saying the firm’s dealings with a California couple left them in “a state of battle-fatigued demoralization.”"

ON THE WIRES

  • Payoneer Offers Working Capital Solution to eCommerce Sellers on Wish.com - "Payoneer, a leading cross-border payments company transforming the way businesses send and receive funds globally announced today its new Early Payments™ service at Wish's annual seller conference in Hangzhou. The service provides Wish high-volume eCommerce merchants the ability to receive payment for their sales within minutes, giving them crucial capital to drive their businesses forward."
  • QuickBooks Online Brings Faster Invoicing, Greater Collaboration to G Suite - "The new Gmail Add-on for Invoicing lets small business customers invoice their clients directly from Gmail. In addition, Intuit is developing another integration that brings team collaboration and QuickBooks functionality to Hangouts Chat, the new intelligent communication app in G Suite."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out our spring schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

March 29, 2017

Headline News from PaymentsNews.com - March 29, 2017

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

ON THE WEB

  • Demonetization Roulette: India’s unusual approach to creating a cashless economy - Glenbrook’s Payments Views (Shiv Vadivelalagan) - "On November 8, 2016, India cancelled 86% of its currency in circulation with a four-hour notice and the move pushed India into a severe currency shortage. In a country where 98% of all consumer payments are in cash, this prolonged currency shortage carries risks: economic destabilization in the short term and irrevocable damages to the vibrant informal sector in the long run. Policy analysts describe the situation as the greatest gamble undertaken by modern India."
  • Mastercard buys NuData Security, aims to beef up IoT payment security - ZDnet - "Mastercard said it is acquiring NuData so it can integrate its technology into its fraud management and security products. The bet is that secure payments will be critical to the Internet of things ecosystem and smart devices."
  • AmEx fires another shot at Chase’s Sapphire Reserve - Wall Street Journal - "American Express Co. is taking another shot at J.P. Morgan Chase & Co.’s popular Sapphire Reserve card, planning to increase the points it is doling out to consumers who sign up for its Platinum card and spend a lot in the first three months."
  • E-commerce fraud rates spike 33% in 2016 - Experian blog - "Experian analyzed millions of e-commerce transactions from our 2016 client data to identify fraud attack rates for both shipping and billing locations across the United States. The data reveals the increase of e-commerce attacks in 2016, the geographical differences, and whether a credit card has been stolen or personal credentials have been compromised."
  • Transnational Crime and the Developing World - Global Financial Integrity - " The combination of high profits and low risks for perpetrators of transnational crime and the support of a global shadow financial system perpetuate and drive these abuses. The report also emphasizes how transnational crime undermines economies, societies, and governments in developing countries."
  • NXP adds new NFC chips and sensors to secure the Internet of Things - NFC World - "NXP has unveiled two new NFC chips and a range of NFC offerings designed to “capitalise on the inherent security and interactive capabilities of NFC for advanced product authentication, integrity assurance and enhanced user engagement across consumer manufactured goods, healthcare, retail and other industries”."
  • Waze gets into the order-ahead business with Dunkin' Donuts - Chicago Tribune - "On Tuesday, the Google-owned app will start letting drivers purchase coffee and other items from Dunkin' Donuts for pickup along their way. It's the first time that Waze has offered this kind of "order ahead" option, but unlikely to be the last."
  • Danish Consumers can now pay with Dankort on their Mobile - Fintech Finance - "Members of the BOKIS banking collective have become the first in Denmark to offer mobile payments using Dankort, the national debit and credit card. Last month the collective launched a digital wallet that allows consumers with an Android device to make contactless mobile payments. Today it is launching a mobile wallet for iPhone and, for the first time, is enabling customers to link their Dankort to their device."
  • Bitbond and BitPesa to Simplify Business Financing in Africa - Finance Magnate - "BitBond, a German firm facilitating p2p loans via the bitcoin blockchain, announced today that it is teaming up with payment services provider BitPesa to improve access to financing for small business in Africa. The integration is now live in Kenya, Nigeria, Uganda and Tanzania."

ON THE WIRES

  • IBM X-Force Finds Historic Number Of Records Leaked And Vulnerabilities Disclosed In 2016 - "IBM (NYSE: IBM) Security today announced results from the 2017 IBM X-Force Threat Intelligence Index which found the number of records compromised grew a historic 566 percent in 2016 from 600 million to more than 4 billion. These leaked records include data cybercriminals have traditionally targeted like credit cards, passwords and personal health information, but IBM X-Force also noted a shift in cybercriminal strategies. In 2016, a number of significant breaches related to unstructured data such as email archives, business documents, intellectual property and source code were also compromised."
  • Blackhawk Network Announces New Incentives Business Name: Hawk Incentives - "Blackhawk Network—a pioneer of gift cards, payments tools and rewards delivered via a robust and convenient network—today announced a new identity for its incentives business: Hawk Incentives. Hawk Incentives is intended to support long-term growth strategies and to create efficiencies improving customer and partner experiences. Additionally, the positioning aligns with Blackhawk's retail and digital consumer business structure called Hawk Commerce, which was announced late last year."
  • Revel Announces Integration With Dragontail Algo System at Pizza Expo 2017 - "Revel Systems, a feature-rich business platform transforming the way business is done by integrating all operations and customer channels, driven by the point-of-sale, into a single dashboard, today announced a partnership at Pizza Expo 2017 in Las Vegas with Dragontail Systems, a company revolutionizing the QSR industry through automating technology and artificial intelligence, to implement their Algo System and Camera Cutting Station technology into restaurant and quick service operations."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out our spring schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

March 28, 2017

Headline News from PaymentsNews.com - March 28, 2017

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

ON THE WEB

  • Episode 49 – How to Get, and Stay, Smart in Payments - Glenbrook’s Payments on Fire podcast - "Want to know what it takes to stay smart in payments? Take a listen to Russ Jones, the Partner in Charge of Glenbrook’s Payments Boot Camp program. Russ gives a look behind the scenes, talks over the boot camp’s evolution, and how it stays forward looking in what’s become a fast changing industry. Over 13,000 payments professionals have experienced the Payments Boot Camp Russ talks about in this Payments on Fire podcast."
  • Amazon to Launch Grocery Pickup Stores in Seattle - Wall Street Journal - "AmazonFresh Pickup will allow customers to choose from thousands of items online and reserve a time for pickup, according to the company. Orders will be ready in as little as 15 minutes, and there is no minimum-order limit. Amazon will select the food, bag it and deliver it to customers’ vehicles."
  • Wells Fargo Card Requests Drop by Most Since Scandal Erupted - Bloomberg - "Wells Fargo & Co. said credit-card applications dropped 55 percent in February from a year earlier, the biggest decline since a scandal involving fake accounts erupted in September."
  • Payments company Square launches in the U.K., its first European market and fifth globally - Venture Beat - "Mobile payments company Square is finally landing in Europe with the news today that it’s now open for U.K.-based business owners. This launch represents the fifth market for Square, after the U.S., where it has been available since 2010, Canada (2012), Japan (2013), and Australia (2016)."
  • Nordea Bank: PSD2 will require banks to adopt a ‘totally new way of viewing their customer base’ - NFC World - "Significant confusion and a high level of fragmentation can be expected over the next five years as European financial institutions become accustomed to new regulations under the Payment Services Directive (PSD2) which will open the door to new competition within the European payment services market, says Nordea Bank’s vice president of strategic business development, transaction banking and business innovation."
  • Wells Fargo to add NFC mobile withdrawals to ATMs later this year - NFC World - "Customers of US bank Wells Fargo will be able to withdraw cash from ATMs using an NFC-based mobile payments service such as Apple Pay, Android Pay and Samsung Pay when the bank rolls out an upgrade across the US “later this year”. "
  • Swedish Startup Truecaller Gets Into Mobile Payments in India - Bloomberg - "The caller-ID service and spam-filtering startup announced on Tuesday that users can send and receive money through its smartphone app without passwords or banking codes. The service links bank accounts and sits atop Truecaller’s mobile-identity service, which was the third-most downloaded app in India last year."
  • Wal-Mart Reorganizes Tech Group to Strengthen Mobile - Wall Street Journal CIO Journal blog - "Wal-Mart sees the mobile device as the linchpin of a customer experience that blends online and in-store shopping, with the retailer’s mobile app and mobile payments service playing significant roles. One key project under that concept is rethinking how pharmacy customers order and pick up prescriptions, Ms. Tan said."
  • Mobile device malware report reveals all-time high in mobile device infections - Payments Cards & Mobile - "The latest Threat Intelligence Report reveals a new all-time high in mobile device malware infections, a sharp increase in compromised smartphones and major IoT device security vulnerabilities."

ON THE WIRES

  • Visa and Viewpost to Accelerate Electronic Bill Payments for U.S. Businesses - "Visa Inc. (NYSE:V) and Viewpost®, a secure B2B network for electronic invoicing, payments and real-time cash management, today announced an exclusive partnership to bring electronic business payments to Viewpost’s small to medium-sized business clients (SMBs). By using Visa virtual commercial cards through their participating financial institutions, SMBs will increase automation, convenience and security for their B2B transactions."
  • CPI Card Group Highlights End-to-End Solutions & Emerging Payment Technology Innovations at the Smart Card Alliance Payments Summit & ICMA Expo - "CPI Card Group (Nasdaq:PMTS, TSX:PMTS), a global leader in financial and EMV® chip card production and related services, today announced a broad set of activities during the co-located Smart Card Alliance (SCA) Payments Summit and International Card Manufacturing Association (ICMA) 2017 Card Manufacturing & Personalization EXPO, held March 27-30 in Orlando. Event attendees will have the opportunity to experience CPI Card Group’s depth and expertise as a leading end-to-end payment solutions provider, as well as its industry foresight and vision, through speaking sessions, panels and demonstrations at the Company’s booth (#401)."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out our spring schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

March 27, 2017

Headline News from PaymentsNews.com - March 27, 2017

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

ON THE WEB

  • U.S. Supreme Court won’t review Visa, Mastercard fees settlement - Wall Street Journal - "The high court in a brief order said it won’t review a federal appeals court decision from last June that invalidated the settlement. In that ruling, the New York-based 2nd U.S. Circuit Court of Appeals said the settlement was problematic because some groups of merchants weren’t adequately represented."
  • Now negotiable: Credit-card annual fees - Wall Street Journal - "More than 80% of people who ask their card company for relief from their annual fees receive it, according to a new survey. Most get the fee waived entirely, while a smaller portion receive a fee reduction, according to a CreditCards.com report released Monday that surveyed around 950 card users."
  • Bye-Bye Benjamin: The Digital Money Case for Phasing Out the $100 Bill - Wall Street Journal blog - "Two top American economists have recently suggested that the U.S. should seriously consider variations of Mr. Modi’s bold move. At a panel on Ending Corruption at the World Economic Forum 2017 annual meeting in Davos, Joseph Stiglitz, a Columbia University professor and Nobel Prize-winning economist, said that phasing out currency and moving towards a digital money economy would, over the long term, have “benefits that outweigh the cost.”"
  • Amazon delays convenience store opening to work out kinks - Wall Street Journal - "Amazon Go was due to launch to the public by the end of the month, after launching in beta mode to employees in December, according to people familiar with the matter. It is unclear when it will now open, as it works out kinks in the technology to automatically charge customers when they leave, instead of needing to have cash registers, checkouts and lines."
  • Biometric Brits suffer from password fatigue, Equifax - IBSintelligence - "56% of Brits would prefer to use a biometric security method over traditional options like passwords to log into their financial accounts online, according to Equifax research. A survey, conducted by YouGov and involving 2,059 people, found that 33% would prefer to use fingerprint recognition as a security method to access their accounts. A further 13% would like to use iris scanners, 7% facial recognition, and 3% voice recognition."
  • Evo Payments Said to Explore Sale That Could Fetch $2 Billion - Bloomberg - "The company has drawn interest from potential buyers including Vantiv Inc., one of the people said. No final decision has been made and the company could decide to remain independent. Exploring both a sale and an IPO, known as a dual-track process, is common for private equity-owned companies as a way to determine the best exit for an investment."
  • This Bitcoin Botnet is Vying to Be Future of Secure IoT - Coindesk - "NeuroMesh's idea is to mimick the same tactics hackers use when trying to compromise machines in the first place – installing lightweight code that hijacks the kernel and then dials out to a command and control (C&C) server, adding the machine's resources to a botnet directed by the bot 'herder'."
  • Deutsche Bank reduces check clearing in euros in Middle East - Reuters - "The bank said it was phasing out check clearing globally and setting up a new digital global payments platform instead, although it would keep up the check business with bank clients generating decent business, the source added. Checks accounted for just 6 percent of the total mix of global non-cash transactions in 2014, compared with 65 percent for cards, 12 percent for direct debits and 17 percent for credit transfers, according to Capgemini Financial Services and the Bank for International Settlements."

ON THE WIRES

  • Tradeshift Launches New AI Layer on Platform, Creating Simplified Commerce - "Tradeshift, the world’s largest business commerce platform, today announced the release of Tradeshift Ada, the world’s first smart interface for B2B commerce that offers new automation capabilities to help users accelerate how they buy, pay and collaborate."
  • D+H Accelerates Adoption of European Instant Payments by Providing a Cloud Test Environment for European Banks - "DH Corporation (TSX: DH) ("D+H"), a leading provider of technology solutions to financial institutions globally, today announced that it is offering a cloud-based instant payments testing environment for the European market. The testing environment will provide simulated connectivity to EBA CLEARING's pan-European instant payment infrastructure solution, which is aimed at supporting European payment service providers in fully complying with the European Payments Council's SEPA Instant Credit Transfer (SCT Inst) Scheme. This environment will enable banks adhering to the SCT Inst Scheme to utilize D+H's web and mobile instant payments initiation channels and payment hub solution to experiment with and test instant payments quickly, easily and with low risk."
  • NXT-ID and Fit Pay, Inc. Announce Letter of Intent to Combine Their Businesses - "NXT-ID, Inc., a security technology company, and Fit Pay, Inc., a privately held provider of payment, credential management, and authentication platform services, today announced that the companies have entered into Letter of Intent to combine their businesses in a deal that includes stock and cash consideration. NXT-ID will not be raising additional capital to complete this transaction."
  • Total Merchant Services Expands Integrated Payments Technology for Developers - "Total Merchant Services, a leader in payment services and solutions, today announced its expanded suite of Groovv Integrated Payments APIs and SDKs for software developers and Independent Software Vendors (ISVs). Free to implement, the tools make it easy for developers to integrate payments seamlessly into their software or websites while meeting compliance requirements. Further, ISVs using Groovv Integrated Payments in their point of sale (POS) or business management solutions earn revenue share when their customers process transactions."
  • Industry Veterans Form New Card Company, Fair Square Financial - "A team of former executives and experts from leading credit card issuers announced today the market launch of new consumer credit cards under the brand "Ollo". The newly-formed company, Fair Square Financial Holdings, ("Fair Square Financial" or "the Company"), has received a substantial equity commitment to finance card issuance from Pine Brook, an investment firm focused on building financial services businesses."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out our spring schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

March 24, 2017

Headline News from PaymentsNews.com - March 24, 2017

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

ON THE WEB

  • Demystifying India’s Digital Payment Infrastructure - Payments Views (Glenbrook’s Shiv Vadivelalagan) - "There is a growing curiosity about India’s payments systems. These systems, and their role in the “India stack”, have been the subject of many articles speculating their importance in shaping India’s future. Despite this attention, there is still considerable confusion about what these initiatives are, and how they interact with each other. "
  • Starbucks to add gift cards to iMessage as Mobile Order & Pay grows - NFC World - "Starbucks customers across the US will soon be able to purchase gift cards using Apple Pay and send them to friends and family within Apple’s iMessage platform. The move comes as the coffee giant reveals it now has approximately nine million mobile paying customers with one in three using Mobile Order & Pay, which accounted for 8% of all transactions made across US stores last month."
  • SAMSUNG, SMARTLINK AND INGENICO WIDEN DIGITAL PAYMENT ACCESS WITH NEW SOLUTION - Cards International - "The new solution, Contactless Companion Platform (CCP), has been designed to expand access to contactless payments beyond owners of NFC-enabled smartphones, and even to those who do not own a payment card and bank account. CCP enables users make digital cash payments through a tiny NFC chip that can be embedded into any contactless device of their choice, such as a dedicated smart card, wristband, key fob, or mechanical watch or smart ring. "
  • Esso customers get mobile payments and rewards at 1,000 Canadian gas stations - NFC World - "“Once you have registered and onboarded at least one payment card, open the Speedpass+ app and select Pay for Fuel,” the company adds. “Then, complete the simple transaction process on your smartphone.”"
  • Amazon Takes a Gamble on Middle Eastern E-Commerce - New York Times Dealbook - "The Seattle-based company is paying less than $1 billion for Souq.com, a Middle Eastern e-commerce upstart. Amazon gets a low-cost toehold in a region that is hard to conquer. That said, overseas buyers have a history of regretting purchases of shiny objects in this labyrinthine market."
  • Keep Calm and Bitcoin On? Developers Aren't Worrying About a Fork - Coindesk - "The community is in a bit of a frenzy over the possibility, with some traders liquidating positions and others fretting over a post-fork attack on the old chain. Yet, not everyone thinks that a fork will occur."
  • MAS to roll out national KYC utility for Singapore - Finextra - "The Monetary Authority of Singapore (MAS) is piloting a national know-your-customer (KYC) utility for financial services, based on the MyInfo digital identity service, jointly developed by the Ministry of Finance and GovTech, the lead agency for digital and data strategy in Singapore."
  • The end of smartphone innovation - Benedict Evans - "Really, though, this reflects where we are in the product cycle. New technology of any kind tends to follow an S Curve - at first improvement and innovation seems slow as the fundamental concepts are worked out, then there's a period of very rapid change, innovation and feature expansion, and then, as the market matures and the 'white space' is filled in, perceptible improvement tends to slow down."
  • Fraud Costs Foreign E-Commerce Retailers 22% More Than U.S. Brands - Retail Touch Points - "Non-U.S. retailers are particularly vulnerable, according to a study from LexisNexis. Non-U.S. retailers with an e-Commerce operation have the highest fraud-related costs as a percentage of annual revenue, with charges that are 22% higher than U.S. retailers, according to a study from LexisNexis. These merchants’ overall fraud costs are 85% higher than their brick-and-mortar-only counterparts."
  • Is Retail Subscription the Next Channel for Your Business? - MPP Global Solutions blog - "Right now, retail subscription is growing rapidly across the world, with countries such as the US, Japan, France and India leading the way. This growth in retail subscription is fueled by Generation Z and Millennials who are looking for more personal and convenient shopping experiences."

ON THE WIRES

  • Distil Networks Uncovers Sophisticated Gift Card Fraud Bot - "Fraudsters are using malicious automation to test a rolling list of potential account numbers and requesting each balance. If successful in obtaining the balance, fraudsters can resell the account number on the dark web or use them to purchase goods. GiftGhostBots are being distributed across worldwide hosting providers, mobile ISPs, and data centers, executing JavaScript to avoid detection. On one customer website, the analyst team recorded 4 million bad bot requests per hour -- nearly 10 times their normal level of traffic. On average, the operators of GiftGhostBot can test as many as 1.7 million gift card account numbers per hour."
  • Personally Identifiable Information Found on 40 Percent of Used Devices in Largest Study To-Date - "The National Association for Information Destruction® (NAID®) announced today the results of the largest study to date of the presence of personally identifiable information (PII) on electronic devices sold on the second hand market. The study showed that 40 percent of devices resold in publicly-available resale channels contained PII. NAID commissioned CPR Tools, Inc. to analyze the used devices, which included used hard drives, mobile phones and tablets."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out our spring schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

March 23, 2017

Headline News from PaymentsNews.com - March 23, 2017

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

ON THE WEB

  • Banks and Tech Firms Battle Over Something Akin to Gold: Your Data - New York Times Dealbook - "The big banks and Silicon Valley are waging an escalating battle over your personal financial data, including the amount you spent on dinner last week and how much you are paying for your mortgage."
  • LG to launch mobile payments service using magnetic communication technology - NFC World - "LG will launch its LG Pay mobile payments service in Korea in June this year using a mobile payment technology that works by “generating a magnetic signal from a mobile device such as a smartphone, and paying it to a general credit card terminal”. The hardware has already been built into the LG G6 smartphone, and the company has secured support for the service from seven Korean credit card companies."
  • Cloud-Based TouchPass Brings a Subscription Model to Transit Agencies for Fare Payments - Digital Transactions News - "The subscription model is coming to payments for transit fares. Delerrok Inc., a transit fare-system provider, launched TouchPass this week, a fare-collection service that transit operators pay for via a subscription."
  • Westpac launches payments keyboard for chat apps - NFC World - "Customers of Australian bank Westpac will soon be able to use an innovative replacement for the default keyboard found in social messaging apps such as Facebook Messenger and WhatsApp to make P2P money transfers to friends, family and businesses as well as send cardless cash codes to recipients for ATM withdrawals."
  • Tencent Plans E-Book IPO as Ma Boosts Spending on Services - Bloomberg - "“The payments service is treated as an infrastructure, that’s why even as user numbers grow fast, bank fees grow as well, so what we generate is similar to what we invest,” Ma told reporters in Hong Kong. “A lot of our cloud business is also in the investment phase, that’s why costs in the short term will be high.”"
  • Kenya sells bond over mobile phones in world first - Reuters - "Kenya began selling a government bond exclusively via mobile phones on Thursday, a world first aimed at expanding the pool of investors in a country that needs money for infrastructure projects and where many people don't have a bank account."
  • European Commission opens public consultation on fintech - Finextra - "The Commission is understood to be pondering the adoption of an EU-wide licence for tech companies in the financial services sector to operate across Europe. Other options on the table include the creation of a regulatory framework and sandbox environment covering the entire Union."
  • SAP Ariba Inks Blockchain Supply Chain Partnership With Everledger - Coindesk - "Announced today, the move will see SAP Ariba deploy the tech for use in supply chain applications, one of the services the company provides. According to SAP Ariba, more than 2.5m companies utilize its offerings. Everledger, based in London, uses blockchain to track the provenance of diamonds and other assets."
  • Montblanc Launched a Smartwatch. Here's Why It Matters - Business of Fashion - "The Montblanc Summit, based on Google's Android Wear 2 platform, aims to compete with, among others, the Apple Watch and rival Swiss brand TAG Heuer's Connected Watch (which was released last year and will get an upgrade likely to be announced this week)."
  • IRS and Zoho Books Now Integrated with PayPal - PayPal stories blog - "Pay your IRS income taxes with PayPal. Get an extra six months to pay with PayPal Credit. We’re excited to announce that starting this year, more than 90 million active PayPal users in the U.S. can now pay their federal income taxes to the IRS with their PayPal account."
  • MAYBANK, CIMB TO ALLOW CONTACTLESS PAYMENTS VIA ALIPAY IN MALAYSIA - Cards International - "Malayan Banking and CIMB Bank have partnered with Ant Financial Services Group, an affiliate of e-commerce giant Alibaba Group, to provide Alipay as an alternative of cashless payment for Chinese tourists visiting Malaysia."
  • Android O to Autofill Credit Card Forms - Google developers blog - "Users can save time filling out forms by using autofill in their devices. Android O makes filling forms, such as account and credit card forms, easier with the introduction of the Autofill Framework. The Autofill Framework manages the communication between the app and an autofill service."
  • eBay Asks Users to Downgrade Security - Krebs on Security - "Last week, KrebsOnSecurity received an email from eBay. The company wanted me to switch from using a hardware key fob when logging into eBay to receiving a one-time code sent via text message. I found it remarkable that eBay, which at one time was well ahead of most e-commerce companies in providing more robust online authentication options, is now essentially trying to downgrade my login experience to a less-secure option."

ON THE WIRES

  • Survey: Acquirers Divided on How PCI Compliance Impacts Merchant Retention - "ControlScan, a trusted security and compliance program partner to the payments industry, in partnership with Merchant Acquirers' Committee (MAC), has released key findings from the 2017 Acquirer PCI and Security Survey. Completed by more than 130 ISOs, acquirers, processors and payment facilitators, the survey's results support an ongoing effort to understand and share PCI compliance program practices among payments industry stakeholders."
  • New Secure Technology Alliance White Paper Describes the Role of Smart Card Technology to Enhance Security of Blockchain Applications - "To provide guidance for organizations implementing blockchain applications, the Secure Technology Alliance, formerly the Smart Card Alliance, released a white paper today that provides a primer on blockchain technology, and highlights the need for hardware security technology such as smart cards and embedded secure elements to protect and provide convenient user access to cryptographic keys."
  • PaySimple Introduces First Point-Of-Sale Software For Services - "PaySimple's new sPOS is a virtual terminal that provides customers the simplicity of point of sale with the power of a complete billing, payment, and customer management solution. The platform was designed to allow service-based businesses to sell their products and services through one easy-to-use interface, supporting omni-channel billing and payment collection."
  • Hyperledger Welcomes SAP as Premier Member - "Hyperledger, a collaborative cross-industry effort created to advance blockchain technology, announced today that SAP SE (NYSE: SAP) has joined as a Premier member. As part of SAP's Premier membership, Dominik Heere, Vice President, Innovation Engineering, SAP Innovation Center Network, will represent the company on the Hyperledger Governing Board."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out our spring schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

March 22, 2017

Headline News from PaymentsNews.com - March 22, 2017

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

ON THE WEB

  • Samsung Pay goes live across India with support for Paytm and UPI money transfers - NFC World - "Samsung Pay has launched in India with support from Visa, Mastercard, American Express, Axis Bank, HDFC Bank, ICICI Bank, SBI Cards and Standard Chartered Bank, with Citibank India support expected “shortly”. The service has also integrated India’s leading mobile wallet Paytm and comes with support for peer-to-peer (P2P) money transfers through the Indian government’s Unified Payments Interface (UPI) platform."
  • Gemalto knocked by slowing take-up of chip cards in U.S. - Reuters - "More than 1 billion euros was wiped off Gemalto's market value after the company said the slow take-up of cards embedded with so-called EMV chips to prevent counterfeit card fraud had caused an inventory build-up."
  • UK to roll out image-based cheque clearing system - Finextra - "The UK is to roll out an image-based cheque clearing system in October that will slash processing times from six 'weekdays' to one day and pave the way for the introduction of interbank mobile cheque deposits."
  • Circle Urges User Caution As Bitcoin Hard Fork Looms - Coindesk - "Payments startup Circle suggested in an email to users today that, in order to avoid the potential negative consequences of a hard fork on the network, they may want to to sell their bitcoins. In an email late Monday, Circle – which dropped support for buying and selling bitcoin in December, but still offers wallet services – outlined its contingency plan ahead of a possible network split."
  • PayPal Prompts Poland’s Banks to Team Up for Rival Payment App - Bloomberg - "Blik is incorporated in banks’ mobile applications and directly linked to users’ accounts. It bypasses card issuers and other outside mobile-banking providers, differentiating the system from those introduced by giants such as PayPal, Apple Inc. and Alphabet Inc. The move was also aimed at reducing transaction costs, though after card transaction fees were cut in Poland two years ago, the costs are now comparable."
  • AIR CHINA, INGENICO PARTNER TO ACCEPT DISCOVER CARD PAYMENTS IN NORTH AMERICA - Cards International - " Ingenico ePayments, the online and mobile commerce division of Ingenico Group, has reached an agreement with Chinese flag carrier Air China to offer airline the capability to accept Discover card payments in North America. The agreement will enable the Chinese airline to accept all cards on the Discover Global Network, via Discover Global Network’s strategic alliance agreements with issuers from around the world."
  • BlueSnap Expands Local Payment Processing Into Canada, Latin America - Retail Touch Points - "With the most recent expansion of its Powered Buy Platform, BlueSnap enhanced local acquiring into Latin America and Canada. In Latin America, the cost to sell locally can be cost prohibitive with up to 30% of a sale going to processing fees, taxes, etc. BlueSnap’s processing is designed to let merchants sell into Latin America at one-third of the cost, while maximizing conversions and coverage of alternative payment types and local cards."

ON THE WIRES

  • US Payments Forum Provides Guidance on Card-Not-Present Fraud with Perspectives on Experiences Around the World - "With card-not-present (CNP) fraud a global concern, many countries have deployed various fraud prevention tools to help curb fraud in both online and mobile channels. The U.S. Payments Forum reviews experiences from countries around the world to assist the U.S. payments industry in mitigating CNP fraud in a white paper released today. The white paper, “Card-Not-Present Fraud around the World,” can be downloaded at http://www.uspaymentsforum.org/cnp-fraud-around-the-world/."
  • Rites of Spring: Forager™ Launches to Ignite the Local Food Economy - "Forager's new online and mobile procurement-to-payment platform is designed to reduce costs and friction at every step of the process, making it so much easier to source locally. The company has already completed a successful regional pilot involving 100 farmers and 10 grocers, food-co-ops and wholesalers from Maine. Now they are rolling out the platform throughout New England and New York State."
  • PAYMENT21 AND ACI WORLDWIDE ENABLE ANTI MONEY LAUNDERING COMPLIANT BITCOIN PAYMENTS GLOBALLY - "Payment21® and ACI Worldwide today announced a strategic collaboration enabling payment service providers (PSPs) to offer merchants anti-money laundering (AML)-compliant Bitcoin acceptance via ACI’s UP eCommerce Payments solution. ACI’s network of more than 130 PSPs, serving more than 56,000 merchants, can now accept Bitcoin payments as a result."
  • Sionic Mobile Boosts Mobile Loyalty and Payments Platform With RevTrax SmartOffers - "Sionic Mobile and RevTrax today announced the integration of the ION Commerce Engine™ (ICE) mobile loyalty and payments platform with RevTrax SmartOffers®, enabling retailers and consumer packaged goods (CPG) providers to better engage and connect with millions of Rewards App users nationwide. Users will now have access to digital coupons for products at nearby retailers and free, exclusive perks on top of the instant rewards received for every mobile payment transaction."
  • National Contractor Insurance Program Launches Tech-Driven Direct Bill Offering - "Builders and Tradesmen's Insurance Services, Inc. (BTIS), a nationwide provider of insurance for the construction industry, has recently completed the roll out of the direct bill component for their Victory Contractor General Liability product. The direct bill option for the Victory product, known as BTIS DirectPay, is a comprehensive billing suite that provides an exceptional customer experience."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out our spring schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

March 21, 2017

Headline News from PaymentsNews.com - March 21, 2017

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

ON THE WEB

  • Walmart Expands Its E-Commerce Ambitions With a New Investment Arm - New York Times Dealbook - "Walmart announced on Monday that it had formed Store No. 8, an internal venture meant to hatch new online retail businesses. It is the latest sign that Walmart is trying to revamp its e-commerce playbook. That effort began in earnest last year, with the acquisition of Jet. And last week, Walmart struck a deal to buy ModCloth, an online purveyor of trendy women’s clothing."
  • Contactless overtakes traditional card payments in Hungary - Contactless Intelligence - "Contactless payments accounted for more than half of all transactions made with payment cards in Hungary in 2016, the country’s central bank says. “Whereas in 2015 contactless payments accounted for 30% of payments, in 2016 more than half (51%) of payments were conducted with the new technology,” says Magyar Nemzeti Bank (MNB)."
  • Threat or Opportunity? Blythe Masters Talks Blockchain Jobs Impact - Coindesk - "While industry numbers are only now beginning to be researched, Masters positioned blockchain in the same category as robotics, machine learning and artificial intelligence – all industries that she believes need to consider the impact of their innovations on public policy surrounding job creation."
  • Coinbase has added margin trading to its bitcoin exchange - Coindesk - "Eligible traders can now trade up to 3X levered orders on Bitcoin, Ethereum and Litecoin order books."

ON THE WIRES

  • linked2pay Deploys Online, Real-Time Card Underwriting for ISOs and Sponsor Banks - "linked2pay announced today the deployment of real-time delivery of merchant accounts to its Bank Centric Payments platform. Now, the company’s ISO and reseller partners can enroll with a participating sponsor bank to leverage a paperless, real-time process to register, underwrite and board their merchants for card processing. It also includes the ability to monitor and manage the ongoing risk of a portfolio by leveraging integrations with 3rd party business analytics service providers."
  • Inside Secure Delivers Application Protection to Defend against Malicious Attacks on Android Java Devices - "Inside Secure (Paris:INSD) (Euronext Paris: INSD), at the heart of security solutions for mobile and connected devices, today announced that it has released its Core security technology specifically for Android applications. Core for Android brings an unprecedented level of security capability in the Android environment by, for the first time, building a deep integrity network inside the applications. As a result, developers can create innovative applications confident that consumers can now more securely and safely make transactions managing sensitive personal data and information on their Android devices."
  • EnterCard Will Use Cloud-Based FICO Solution to Protect 1.7 Million Scandinavians from Fraud - "EnterCard, one of the leading Scandinavian finance companies, will use the FICO® Falcon® Platform to combat card fraud and communicate with its 1.7 million customers. The company, a joint venture between Swedbank and Barclays Bank, is upgrading to a cloud-based version of the Falcon solution to decrease fraud losses, enhance the customer experience and gain better control of the customer relationship. EnterCard will use the solution to protect customers in Sweden, Norway and Denmark from fraud."
  • To Accommodate Growth, Egyptian Banks Company Adopts ACI Worldwide's Next-Generation Retail Payments Solution - "ACI's retail payments solution will help power EBC and Egypt's salary programme, an initiative launched by the Egyptian government with the aim to reduce the amount of cash that is used for transactions in the country. The programme will see the salaries of more than five million government employees deposited into bank accounts or on prepaid cards. Additionally, banks are planning to offer financial services to the unbanked population and will be using the country's high mobile pentration rate of 98% to offer new services."
  • Net Element's Unified Payments to Offer Planet Payment's Multi-Currency Pricing Solution - "Net Element, Inc. (NASDAQ: NETE) ("Net Element" or the "Company"), a provider of global mobile payment technology solutions and value-added transactional services, today announces that its Unified Payments subsidiary entered into a partnership with Planet Payment, Inc. (NASDAQ: PLPM), a leading provider of international and multi-currency payment processing services, in which Unified Payments will offer Planet Payment's Multi-Currency Pricing to its portfolio of online merchants."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next public Boot Camp and Insight Workshop series is April 18-20 in New York City followed by Atlanta, May 16-18. Come for the two day boot camp or attend all three days. Check out our spring schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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