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

June 08, 2015

Headline News from PaymentsNews.com - June 8, 2015

On the Web:

  • E-commerce Fraud, Data, and EMV’s Impact on CNP Losses - PaymentsViews.com (George Peabody) - "This discussion with Tom Donlea, Director, e-Comm/Retail Practice at Whitepages, looks at how the data is provided to the merchant, the challenge of data sourcing in international markets, the care and control of PII, and what the US EMV roll-out could mean for CNP fraud."
  • Google Misses Out on Apple’s Slice of Mobile Transactions - Wall St. Journal - "Google isn’t getting transaction fees from bank issuers, said people familiar with the situation."
  • PayPal Holdings presentation for investors and analysts - Exhibit included in a June 8, 2015 eBay SEC filing
  • How I Learned to Stop Worrying and Embrace the Security Freeze - Krebs on Security - "Even if you haven’t noticed (or maybe you just haven’t actually received a breach notice), I’m here to tell you that if you’re an American, your basic personal data is already for sale. What follows is a primer on what you can do to avoid becoming a victim of identity theft as a result of all this data (s)pillage."
  • Westpac, ANZ trial Ripple payments, but big four reluctant on bitcoin - Financial Review (Australia) - "Executives at big four banking rivals are still adopting a more cautious stance on the future acceptance of bitcoin in the mainstream economy, pointing to the fact that it remains unregulated and fraught with risks related to money laundering."
  • Remittances at the Click of a Smartphone Button - New York Times - "While the likes of Western Union have offered international money transfers for decades, new tech start-ups and traditional telecom operators are taking advantage of the rapid rise of smartphones in many emerging economies to reduce the barriers — and costs — of sending cash overseas."
  • Why financial firms are investigating bitcoin tech - CNBC - "The blockchain is the financial challenge of our time," said Blythe Masters, CEO of Digital Asset Holdings, on Tuesday at the Exponential Finance Conference hosted by CNBC and Singularity University. "It is going to change the way that our financial world operates."

On the Wires:

  • Apple Pay Giving Shoppers Even More Ways to Pay - "Apple Pay will also give shoppers more ways to pay in the US, expanding merchant acceptance to over one million locations next month and bringing support for Discover this fall. With this addition, Apple Pay will accept credit and debit cards across all major card networks, issued by the most popular banks, representing 98 percent of all credit card purchase volume in the US."
  • U.S. Bank Gives Customers Access to Free Credit Score - “Knowing your score is important, but even more importantly, we want customers to understand how choices they make can affect their score in the future,” said Andrew Cecere, chief operating officer for U.S. Bank. “Having a good credit score makes it easier to take out a loan, rent an apartment or make a major purchase with the best possible terms. Offering CreditView through TransUnion helps our customers make wise choices, and is consistent with U.S. Bank’s broader efforts to promote personal financial responsibility.”
  • TSYS Enhances Card Production in the Migration to Chip Cards - “We have worked with our U.S. clients since last year as they prepare to issue chip cards in 2015, and it was clear to us early on that we could create an improved process,” said Bob Kellum, group executive of Output Services, TSYS. “This solution lets our issuers focus more on strategy and execution and less on managing new operational challenges. We have also included Chip Card on Demand in TSYS Card Shop to create custom chip cards.”

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

June 05, 2015

Headline News from PaymentsNews.com - June 5, 2015

On the Web:

On the Wires:

  • Commerce Bank Continues to Expand Co-Brand Credit Card Portfolio - Speaking to the recent focus on these relationships, Commerce Bank’s senior vice president of consumer credit card, Chad Doza explains, “At Commerce, we consider sustainability factors in all facets of our business. Our goal is to ensure that our business practices are consistent with our responsibility to shareholders, the good stewardship of natural resources and the well-being of our employees and the communities we serve."
  • Saxo Bank Subsidiary Set to Shake up International Transactions Sector - "“There’s no shortage of new FinTech businesses delivering solutions for a global marketplace,” explained Co-Founder and CEO, Anders la Cour. “But the piece that is missing is the ability to offer international transfers that match the ‘no barriers’ ambitions of those businesses. Currently the traditional banking model for international payments adds significant cost and time to transactions. Plus FinTech businesses struggle with the compliance requirements of the banks. That’s where Saxo Payments comes in."

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

June 04, 2015

Headline News from PaymentsNews.com - June 4, 2015

On the Web:

On the Wires:

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

June 03, 2015

Headline News from PaymentsNews.com - June 3, 2015

On the Web:

  • Glenbrook’s Elizabeth McQuerry is IPFA CEO - PaymentsViews.com (Elizabeth McQuerry) - "Glenbrook is delighted to announce that our partner Elizabeth McQuerry has been named to the position of CEO of IPFA, the International Payments Framework Association. IPFA will play an important role as real-time payments networks around the world start being connected in order to facilitate cross-border payments. Elizabeth will incorporate this work into her ongoing work with Glenbrook on a broad range of international payments projects".

  • Gates Foundation: Lessons Learned About Payments Systems - Ripple Blog - "The Gates Foundation recently published a comprehensive report on designing payments systems for financial inclusion called The Level One Project Guide."

  • NY Financial Regulator Lawsky Releases Final BitLicense Rules for Bitcoin Firms - Wall St. Journal - "The new rules, posted simultaneously on the Department of Financial Services’ website, require certain providers of virtual currency services operating in New York state—in particular, those with custody of customers’ funds and which exchange virtual currencies for dollars and other fiat currencies—to apply for a specially tailored DFS license."

  • Our thoughts on the BitLicense: California is Winning - Coin Center - "The current draft of California’s equivalent legislation, AB 1326, is much better than the BitLicense."

On the Wires:

  • Visa Inc. and Verifone Join Forces to Accelerate Omni Commerce Globally - "As part of the partnership, the companies will integrate industry leading platforms: Verifone will connect its point of sale gateway to Visa’s CyberSource global merchant payment management platform. This will provide merchants with a single platform to protect customer payment data, mitigate fraud, and integrate digital and offline payment systems."

  • Visa and FireEye Join Forces to Help Merchants, Financial Institutions Defend Against Targeted Attacks on Consumer Payment Data - "By combining Visa’s unparalleled view into global payments and FireEye’s industry-leading cyber security expertise, we intend to bring faster, actionable intelligence directly to players across the payments system,” said Charlie Scharf, CEO of Visa Inc. “Although we are leading efforts to render stolen data useless through smart technologies, data security remains foundational for merchants. We’re pleased to be working closely with FireEye, which has been at the front lines identifying and investigating some of the most significant compromises around the world, to provide critical cyber intelligence to merchants and financial institutions.”

  • Payoneer Expands Services in India, Offering Improved Cross-Border Payments from U.S. Companies to Indian Professionals and Businesses - “At Payoneer, we make it our mission to empower global commerce by enabling businesses and professionals to pay and get paid globally as easily they do locally,” said Scott Galit, CEO of Payoneer. “Previously, Indian freelancers, online marketers and other professionals faced high fees and slow transfer times, and our cross-border payments platform directly addresses these challenges.”

  • MasterCard Becomes First International Payments Network to Enter Somalia - “Somalia has made significant strides to rebuild the country and instil peace and stability. Today marks a historic milestone, signalling Somalia’s financial liberation following years of being excluded from participating in the global economy,” says Abdirahman Yusuf Ali Aynte, the Minister of Planning and International Cooperation of Somalia.

  • Bitfinex and BitGo Partner to Create World’s First Real-Time Proof of Reserve Bitcoin Exchange - “We’ve been working with Bitfinex for several months and are impressed by their dedication to security for their users,” said BitGo CEO Mike Belshe. “The industry has been clamoring for exchanges to adopt the multi-sig model, and we’re proud that Bitfinex selected BitGo’s platform to do it. This new level of transparency and security makes breaches such as those of Mt. Gox impossible.”

  • American Express and Starwood Hotels & Resorts Enhance Cobrand Credit Card Benefits - “The SPG Credit Card from American Express has always been a favorite among travel insiders, and the new benefits will deliver even greater value to the ‘always on’ traveler,” said Eva Reda, SVP, Co-brand Partnerships. “We understand what our Card Members want most, and we know the enhanced card will offer the convenience and value they seek.”

  • The Gold Standard Just Got Better; American Express Launches New Dining and Travel Benefits for Premier Rewards Gold Card - “The Premier Rewards Gold Card is the card for people hitting their stride in life and defining their own success. They seek and strive for the gold standard in their personal and professional pursuits. They’re making moves in their careers, but also prioritizing family and friends,” said Lisa Durocher, senior vice president, Consumer Charge Cards & Benefits at American Express. “Whether they’re traveling, dining out or cooking at home, the Premier Rewards Gold Card now gives them even richer rewards, with the flexibility, service, and security they need to keep life moving forward.”

  • U.S. Bank Upgrades Its Corporate Payments Mobile App - "Users can now request virtual card accounts and have them delivered right to their mobile devices to make payments."

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

June 02, 2015

Headline News from PaymentsNews.com - June 2, 2015

On the Web:

  • Sympathy for the Biller – the Unsung Masters of Payments Complexity - PaymentsViews.com (Erin McCune) - "As billers expand their payment acceptance offerings to include in-person transactions, mobile payments, as well as one time and recurring payments online, the back office effort to accurately apply payments to consumer accounts and reconcile incoming bank deposits will demand more time, IT resources, and payments expertise. Billers are increasingly seeking solutions that minimize this data-handling overhead."
  • Pinterest Is Announcing Buyable Pins And A Partnership With Stripe - ReadWrite - "Pinterest is announcing a product called Buyable Pins, which builds on Pinterest's existing Rich Pin features."
  • Biggest MasterCard Issuers Scuttled Deal on Target Data Breach - Wall St. Journal - "The three banks decided to quash the pact that was negotiated on the industry’s behalf by MasterCard because they thought it was too small to cover their losses in the incident, the people said."

On the Wires:

  • International Payments Framework Association appoints new CEO and launches Instant Payments Initiative - "Elizabeth McQuerry, a partner in the US payments consulting firm Glenbrook Partners and a former IPFA member representative of the Federal Reserve's Retail Payments Office, has been appointed as the new CEO of the association. She will take up this position with immediate effect. She takes over from Arthur Cousins who had shepherded the group since its founding in February 2010."
  • Intel Joins FIDO Alliance and Board of Directors to Support Advancement of Online Strong Authentication and Move Beyond Passwords - "As our digital lives become increasingly personal and connected, maintaining secure, reliable authentication across multiple devices and access points is becoming completely unwieldy. We are excited to collaborate with other industry leaders in the FIDO Alliance to develop simpler and more secure solutions to authenticate users and to eliminate the need for passwords over time," said Mark Hocking, vice president and general manager of Safe Identity at Intel Security.
  • Live Gamer Re-Launches as Emergent Payments - "There is a significant opportunity for digital businesses in emerging markets -- which closely mirrors the success of the digital gaming industry in being able to monetize on a global basis," said Andrew Schneider, Co-Founder and President, Emergent Payments. "Seizing this opportunity, however, is often more complicated than it seems..."
  • Oink Introduces Mobile Peer-to-Peer Payments - “The mobile peer-to-peer market is expected to reach $86Bn in the US as it solves a real pain point for consumers,” said Dr. Jo Webber, CEO and founder of Oink. “The 11 to 21 year-old audience needed a more modern banking solution, with real-time access and control, and we have delivered it.”
  • Intuit: Chip Cards Coming: How Small Businesses Can Prepare - “The biggest barriers for small businesses to become EMV-compliant are cost and lack of time or resources required to research terminals,” said Eric Dunn, Intuit's senior vice president for payments and commerce solutions. “We want them to know we’re beside them on this journey to a more secure payments infrastructure, and are providing an affordable solution as well as equipping them with resources to ease any burdens.”

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

June 01, 2015

Headline News from PaymentsNews.com - June 1, 2015

On the Web:

  • On Ed Gilligan - Medium (Megan Quinn) - "At best, startups are ignored and at worst, distrusted. Ed broke that mold. He was willing to pursue new ideas, take measured risks, run tests and lend some brand credibility and marketing power to fledgling companies doing interesting work."
  • The First Battle In The Mobile Payments War Is Over - TechCrunch (Dana Stalder) - "t’s been a tale of conflict, closed door bargaining, and one with a David vs Goliath subplot and huge fortunes at stake. Many watched and waited as PayPal and Google battled the oligopoly of the Networks (Visa, Mastercard, Amex), only to be surprised by a twist ending."
  • Bitcoin app issues critical update after rare bug leads to total crypto breakdown - Guardian - "Bitcoin wallet application Blockchain has rushed to release an update after a critical bug left multiple users unaware that they were sharing a bitcoin wallet..."

On the Wires:

  • Discover Doubles Cash Rewards for New Discover it® Cardmembers after First Year - "Starting today, Discover is extending an exclusive offer to new Discover it® cardmembers that doubles all of the cash rewards they’ve earned at the end of their first year for accounts that are open at the time of doubling. There are no limits on how much a cardmember can earn, and they can redeem in any amount, any time, and their rewards never expire."
  • Chase Mobile® App for iPhone® Introduces Touch ID™ - “We’re focused on making mobile banking faster and simpler,” said Gavin Michael, Head of Digital for Chase. “Touch ID has been the number one request of our customers – and we are excited to deliver it to them.”

Glenbrook's 2015 Payments Education

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 28, 2015

Headline News from PaymentsNews.com - May 28, 2015

On the Web:

  • Pay your way with Android - Android Official Blog - "Things are more interesting when we create them together. So we’ve approached Android Pay the same way we approach every other part of the Android family -- partnering with the ecosystem -- bringing together mobile carriers, payment networks, banks and retailers to deliver you choice and flexibility. And offering developers an open platform to collectively push mobile payments forward."
  • A Primer on Android Pay and Google Wallet - New York Times - "Both Android Pay and Apple Pay are perhaps a larger affront to PayPal, which for years has been the leader in digital payments."
  • Google Unveils Apple Pay Rival - Wall St. Journal - "It isn’t clear how Google will get paid for the Android Pay service. An executive and a spokeswoman at the company said Thursday that the goal is to make Android phones more useful. The spokeswoman declined to comment further."
  • Google and Apple Adjust Strategies on Mobile Payments - New York Times - "The battle for mobile software dominance revolves around two companies: Apple and Google. Now both giants are also going head-to-head in mobile payments, as they prepare to push deeper into digital wallets."
  • Target Wants To Offer Apple Pay, But Focus Is On Chip And Pin - TechCrunch - “People in our space are under attack,” said Cornell, explaining that he didn’t want to distract the team rolling out their chip and pin upgrades to all of their stores by adding in additional variables like Apple Pay.
  • Here’s why finance is about to be disrupted - O'Reilly Radar - "Despite huge technological change and a series of financial crises, the league table of the largest financial firms today, both in the U.S. and around the world, remains much the same as it has always been."

On the Wires:

  • Visa Announces New Commercial Standard for Mobile Payments - "Visa Inc. today announced a new program that connects financial institutions and technology companies to simplify and accelerate the roll-out of new payment and commerce services. Visa's new Digital Enablement Program (VDEP) builds on the company's secure token technology and adds a turn-key, toll-free commercial framework accessible to more than 14,500 Visa financial institution clients and leading technology partners around the world. Google, with its Android Pay payment solution, is Visa's first international program partner."
  • MasterCard Powers Android Pay, Bringing Mobile Payments to Android Device Owners - “Mobile payments are here today, and are now an essential part of the core value proposition for new devices,” said Ed McLaughlin, Chief Emerging Payments Officer, MasterCard. “With the MasterCard Digital Enablement Service (MDES) and Android Pay, we can now use secure tokens to easily enable payments from a consumer’s connected device. Today’s news extends consumer choice and drives further ubiquity of payments on devices.”
  • Android Pay is Coming to Discover Cardmembers - “Discover’s goal is to provide our customers the freedom, options and simplicity of making mobile payments with whatever method they choose. Adding Android Pay expands Discover’s ability to enhance the convenience and experience for its mobile users,” said Heather Roche, vice president of rewards at Discover.
  • U.S. Bank Customers Will Soon Be Able to Add Their Cards to Android Pay - “We’re proud to be helping our customers tap into exciting new ways to pay,” said Shailesh Kotwal, vice chairman and head of U.S. Bank Payment Services. “Android Pay gives our customers added value by providing another way to use their U.S. Bank credit and debit cards to pay for purchases with their mobile devices.”
  • USAA Members Among First to Benefit from Android Pay - “We’re committed to delivering simple and secure payment experiences for our members, which is why we are moving so quickly to integrate our cards with Android PayTM,” said Vikram Parekh, assistant vice president of credit card development at USAA. “Android PayTM is opening up the mobile payment experience to Android users.”
  • Silicon Valley Bank and MasterCard Introduce Latest Commerce.Innovated. Class - "We're thrilled to launch the next class of the Commerce.Innovated. program," said Reetika Grewal, Head of Silicon Valley Bank's payments strategy. "There continues to be a tremendous amount of innovation in the commerce sector and we are excited to be working with these amazing, early stage companies. Our unique, operationally-focused program is designed to help these remarkable entrepreneurs grow their businesses quickly and find the resources that they need in order to achieve their next milestone."
  • Visa’s Updated Statement on FIFA - "Our disappointment and concern with FIFA in light of today’s developments is profound."
  • SWIFT opens The KYC Registry to funds distributors and custodians - "Fund distributors and custodians face similar challenges to banks with KYC due diligence,” says Mark Gem, Head of Compliance at Clearstream and Chair of the SWIFT Securities Compliance Working Group. "I am pleased that SWIFT is extending the reach of The KYC Registry, building upon its momentum in correspondent banking."

Glenbrook's 2015 Payments Education

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 27, 2015

Headline News from PaymentsNews.com - May 27, 2015

On the Web:

  • 21 Inc. and the Future of Bitcoin - Stratechery (Ben Thompson) - "...I think 21 Inc. is best understood as a massive bridge-building project from today’s speculative curiosity to tomorrow’s essential trust network."
  • Touch ID Now Available on the PayPal App - PayPal Forward Blog - "After a quick setup, simply use your fingerprint to log in to your PayPal app to view your account, send money to friends, or access your digital wallet. You will no longer need to log in with your password."
  • The Bank Of Facebook - TechCrunch - According to Steve Davis, product manager at Facebook: “We’re not trying to make a profit out of payments.”

On the Wires:

  • Credit Cards Continued Their Rebound Against Debit and Prepaid Cards in 2014 - "Purchase volume at merchants for general purpose-type consumer and commercial credit, debit, and prepaid cards issued in the U.S. totaled $4.910 trillion, up 8.4% over 2013. Credit cards increased their market share in purchase volume over debit and prepaid cards to 53.59% in 2014, up from 52.95% in 2013."
  • Square Welcomes Shopventory to Square App Marketplace - "Shopventory helps SMBs manage their inventory better while saving time and money by keeping all inventory SKU counts and associated cost information in one central database that syncs with Square. Shopventory's “Dead Inventory Report” automatically highlights inventory that is not selling. This report alone helps retailers realize what items they should turn into cash or consider no longer carrying."
  • Millennials More Likely to Travel Abroad to Volunteer Than Other Generations, Marriott Rewards Credit Card from Chase Survey Reveals - “Other generations may not assume Millennials would use their most precious assets, their time and money, to give back to international communities they visit, but today’s young travelers are reframing that mindset,” said Vibhat Nair, general manager, Chase Card Services. “We’ve seen in the past that this generation of travelers value rewards and perks from travel services, and now we’re seeing how they could be using those rewards for a larger purpose.”

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

May 26, 2015

Headline News from PaymentsNews.com - May 26, 2015

On the Web:

  • One out of four accounts ‘dormant’ as mobile money takes over banking - The East African - "Nearly one out of every four bank accounts in East Africa remains inactive as consumers trade traditional banking for the convenience of mobile money services, the findings of two separate studies show."
  • NFC Mobile Payments: An Industry Snapshot - Mobey Forum - "In this paper, Mobey Forum has attempted to produce a one-stop-guide to assist our banking industry colleagues to better understand and compare the various payment options currently available. No solution has emerged from this analysis as a clear winner, indeed it may be that in some cases more than one payment option is a suitable ‘fit’."
  • Nasdaq to step up blockchain trials - FT.com - "Clearing houses are a wonderful invention, but if you have a public ledger that is trusted, you can evolve back to a bilateral (trading) world but proceed with instantaneous settlement.”
  • Announcing Xapo's Advisory Board - Xapo Blog - "Today Xapo is proud to announce the formation of its advisory board with three visionary leaders, Dee Hock, John Reed and Lawrence H. Summers."
  • MIT aims to give bitcoin research, development a stable home - Boston Globe - "A fledgling project at the Massachusetts Institute of Technology Media Lab is offering researchers and software developers a quiet home to work on bitcoin’s core technology, a computer science breakthrough that lets people trade money securely without paying a middleman."
  • Indonesians Start to Embrace Bitcoin - Wall St. Journal - “Many people think that Bitcoin is unheard of in Indonesia, but the fact is its popularity is soaring now,” said Oscar Darmawan, CEO of PT Bit Coin Indonesia, which owns bitcoin exchange site Bitcoin.co.id.
  • EBA Chairman: Banks Must Understand Blockchain Tech - CoinDesk - "Brennan's statement follows the publication of the EBA's Crypto technologies, a major IT innovation and catalyst for change report, which highlighted the blockchain's potential to improve banking, reduce costs and improve product offerings."as
  • Payment Processor Payza's Bitcoin Transactions Rise 20% Per Month - CoinDesk - "Payza, which serves 100,000 online merchants, also noted payments in the digital currency represent approximately 10% of its monthly withdrawal and deposit volume."
  • Docomo Seeks to Make Passwords Unnecessary - Wireless Week - "The carrier expects to become the world's first mobile operator to integrate online services with smartphones capable of FIDO-enabled multiple biometric authentication."
  • IRS system mined for over 100,000 taxpayer records by fraudsters - Ars Technica - "After the IRS disclosed more information, it became clear the user data was not obtained because of a direct hack of government systems. Rather, weak authentication used by the IRS to protect access to taxpayer data is likely at fault."

On the Wires:

  • Nordstrom and TD Bank Group Announce Strategic Credit Card Relationship - "Nordstrom and TD Bank Group (TD) announced today an agreement under which TD will acquire Nordstrom's existing U.S. Visa and private label consumer credit card portfolio, which currently totals approximately $2.2 billion in receivables. In addition, the two companies have entered into a separate long-term agreement under which TD will become the exclusive U.S. issuer of Nordstrom-branded Visa and private label consumer credit cards to Nordstrom customers."
  • Mitek to Acquire IDchecker, a Global Identity Verification Solutions Provider - "The acquisition of IDchecker demonstrates our commitment to delivering solutions that optimize the mobile channel for safe and secure customer acquisition," said James B. DeBello, president & CEO, Mitek. "By expanding our product portfolio, we will transform Mitek into a global provider of mobile capture and identity solutions in the multi-factor authentication market which is projected by the global market research firm MarketsandMarkets to be worth $10.75 billion by 2020."
  • Worldpay extends global payment acceptance capabilities to India - Ramesh Ganesan, Head of Transaction Banking at IndusInd Bank said: “We are delighted to offer eCommerce acquiring services in India in association with Worldpay. We are confident that the association will help both organisations to contribute to the growth of the ever growing Indian eCommerce industry. This partnership will allow each company to benefit from the other’s respective expertise in domestic and international payments thereby helping in promoting online payment services in India.”
  • TSYS and PAX Technology, Inc. Launch Semi-Integrated EMV Solution - “Making the switch to accept EMV transactions can be a confusing and daunting process, which is why it is important to us to offer our clients a simplified approach,” said Craig Ludwig, head of product for TSYS’ Merchant Services segment. “Our all-in-one solution developed with PAX not only reduces costs and time required for EMV certification, but also provides advanced security features to guard against credit card fraud.”
  • Digital River Names Hayden Reed Senior Vice President and General Manager for Digital River World Payments - "He joins Digital River from MasterCard Worldwide, where he served for ten years, most recently as the senior vice president and group head of emerging payments product for credential management. Prior to MasterCard Worldwide, he served in leadership positions with companies such as First Data Corporation; Electronic Commerce Payments, Inc.; CheckFree Corporation, which is now part of Fiserv, Inc.; Banc One Corporation, which was acquired by JPMorgan Chase & Co.; and Ernst & Young LLP."
  • InstaMed Releases 2014 Trends in Healthcare Payments Annual Report - “The InstaMed Network has processed hundreds-of-billions of dollars in healthcare payments to date, which gives us a unique perspective on healthcare payment trends, including the growth in consumer payment responsibility," said Bill Marvin, President and CEO of InstaMed. "With the release of this annual report, we are leveraging our unique vantage point to educate the industry and promote awareness, change and greater efficiency in healthcare payments.”
  • Staples Celebrates Million Dollar Milestone for Staples Business Loans -"Staples teamed up with Lendio, an innovative financial technology firm and the leading small business-lending marketplace, to deliver a suite of funding options that help solve these challenges."

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

May 22, 2015

Headline News from PaymentsNews.com - May 22, 2015

On the Web:

  • Target Settlement With MasterCard Fails to Get Bank Support - AP - "MasterCard Inc. says that not enough issuers approved the deal and that it's still working to resolve the matter."
  • Data Encryption In The Cloud: Square Pegs In Round Holes - Dark Reading - "This is where a line of research I’ve been pursuing, together with a number of fantastic colleagues, comes in. Back in 2009, we flipped the problem around. Forget about square pegs, and change encryption to be a primitive that allows easy specification of the target format — the ciphertexts produced by encryption should come out already formatted in the right “shape.” We called this “format-preserving encryption” (FPE), a name first coined by Terence Spies of HP (formerly Voltage Security)."
  • Pantera Capital’s Dan Morehead on the Future of Bitcoin - StrictlyVC - "I think most of Wall Street realizes that the systems that move money are incredibly antiquated and incredibly inefficient. Most of them were designed in the 1950s. The main thing for wiring money – SWIFT – is basically sending messages and it’s very primitive and can be disrupted by Bitcoin very easily, and most banks would like to see that happen."
  • Bitcoin - The Miner's Dilemma - Published by the Swift Institute - "Authored by Ittay Eyal (Cornell University), this paper focuses on Bitcoin mining pools, an essential part of the bitcoin ecosystem. Mining pools enable small miners to operate with a reasonable business risk. However, when these pools grow too big, they pose a great danger to the entire bitcoin system. The research demonstrates, using The Miner’s Dilemma as a variation of The Prisoner’s Dilemma in game theory, that the current unstable state of the Bitcoin ecosystem can be rectified using a technique called pool block withholding, which in time would make the large public pools unprofitable and therefore encourage miner’s to gravitate to smaller private pools which are more stable. This evolution to smaller pools would stabilise the overall Bitcoin ecosystem."

On the Wires:

  • UK Payments Council: Cash overtaken by ‘non-cash’ payments in 2014 - "Figures published today (21 May) show that the total number of cash payments made by consumers, businesses and financial organisations in the UK fell to 48% last year (from 52% in 2013). This is the first time that ‘non-cash’ payments have exceeded those made with cash, reflecting the steady trend to use automated payment methods and debit cards rather than pay by notes and coins. However, cash remains the most popular payment method by volume, followed by the debit card, which accounted for 24% of all payments last year."
  • High Credit Card Fees Put a Dent in Car Tune-ups for Memorial Day Trips - "In the U.S. swipe fees– the fees that merchants pay every time a customer uses a debit or credit card – are higher than in any other country. These fees are merchants’ fastest-growing cost and their second-highest operating expense – only labor is more. Banks and credit card companies are price-fixing swipe fees and marking them up to make huge profits."

Glenbrook's 2015 Payments Education

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 20, 2015

Headline News from PaymentsNews.com - May 21, 2015

On the Web:

  • PayPal is Forever Changing Commerce, Everywhere - PayPal Stories - "Today, at an event in San Francisco, we announced new relationships, product experiences and strategies to be able to deliver faster, safer and more elegant buying experiences as we prepare to become an independent, public company under the ticker PYPL."
  • Stripe to Land $5 Billion Valuation in New Investment - Re/code.net - "Stripe, the online payments company, is in talks to raise new investment dollars at around a $5 billion valuation, according to multiple sources familiar with the deal. The exact amount of the investment could not be learned."

On the Wires:

  • Bigcommerce and PayPal Collaborate to Introduce Seamless Payment Processing for Small and Mid-sized Retailers - “PayPal takes a partner-based approach to payments to help merchants and consumers connect more easily,” said Bill Ready, SVP of Global Merchant and NextGen Commerce at PayPal. “We’re excited to team-up with Bigcommerce to offer an end-to-end ecommerce solution that makes it easier than ever for their merchants to launch and grow their businesses. Together, we are giving merchants everything they need to open an online store in just minutes rather than weeks -- all bundled into a single integration.”

Glenbrook's 2015 Payments Education

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!

Headline News from PaymentsNews.com - May 20, 2015

On the Web:

On the Wires:

  • NYSE to Launch NYSE Bitcoin Index, NYXBT - “Bitcoin values are quickly becoming a data point that our customers want to follow as they consider transacting, trading or investing with this emerging asset class,” said NYSE Group President Thomas Farley. “As a global index leader and administrator of ICE LIBOR, ICE Futures U.S. Dollar Index and many other notable benchmarks, we are pleased to bring transparency to this market. By combining our technology infrastructure with our expertise in index calculation and data management, we will continue to launch complimentary products based on our rigorous standards and proprietary index methodology.”
  • The BPCE Group and Oberthur Technologies Launch a World-Exclusive Innovation: the First Dynamic Cryptogram Payment Card - "Banque Populaire and Caisse d’Epargne, in association with Natixis Payment Solutions and Oberthur Technologies (OT), a world leader in digital security solutions, announce the pilot of the first payment card integrating Motion CodeTM, OT’s dynamic cryptogram solution. This world-first replaces the three-figure security code on the back of the card with a 'mini-screen' displaying a code that automatically changes periodically."
  • TA Associates Announces Investment in Procare Software - "Procare’s payment processing offering, Tuition Express®, allows for automated collection of tuition, fees and other payments, and is directly integrated into the company’s software suite. Tuition Express helps increase the reliability of billing information, simplify reconciliation and reduce duplicate data entry."
  • Telecom Companies Gain Easy, Digital Way to Collect Cash Payments Through PayNearMe and Telinta Partnership - "Having an easy way to pay for telecom services is a necessity for all consumers," said Danny Shader, PayNearMe's founder and CEO. "This partnership helps friends and families stay in touch across thousands of miles, regardless of whether they choose to pay through plastic or cash. Telecom service providers who use PayNearMe will find that it is a unique competitive advantage over others in the industry who are not yet serving this segment of the population."

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

May 19, 2015

Headline News from PaymentsNews.com - May 19, 2015

On the Web:

  • A bitcoin miner in every device and in every hand - Medium (Balaji Srinivasan) - "21 is now officially open for business — and business development. After much hard work, we’ve created an embeddable mining chip which we call the BitShare that comes in a variety of form factors. The 21 BitShare can be embedded into an internet-connected device as a standalone chip or integrated into an existing chipset as a block of IP to generate a continuous stream of digital currency for use in a wide variety of applications."
  • How Silicon Valley Joined the Bitcoin Gold Rush - FastCompany - "Wences agreed with Hoffman that Bitcoin was unlikely to be catch on as a payment method anytime soon. But for now, Wences believed that Bitcoin would first gain popularity as a globally available asset, similar to gold. Like gold, which was also not used in everyday transactions, Bitcoin’s value was as a digital asset where people could store wealth."
  • NYSE Launches Bitcoin Index Powered by Coinbase - Coinable Blog - "Today the New York Stock Exchange launched the NYSE Bitcoin Index (NYXBT), a benchmark for the daily price of bitcoin. NYXBT represents the U.S. Dollar value of one bitcoin, based on transactions occurring on Coinbase Exchange and other select bitcoin exchanges."
  • Leaderless Bitcoin Struggles to Make Its Most Crucial Decision - MIT Technology Review - "Under the one-megabyte-per-block limit, the network can process only about three transactions per second. If Bitcoin becomes a mainstream payment system, or even a platform for all kinds of other online business besides payments (see “Why Bitcoin Could Be Much More Than a Currency”), it’s going to have to process a lot more. Visa, by comparison, says its network can process more than 24,000 transactions per second."
  • Digital Gold - AVC (Fred Wilson) - "A lot of people ask me “are you still bullish on Bitcoin” and that question irritates me. Because it suggests that Bitcoin is simple. Bitcoin is not simple, it is not going away, and it continues to fascinate me more than almost anything out there in the tech sector."
  • Why banks (and PayPal) don't simplify - Financial Services Club Blog - "A bank cannot compete with a specialist who is simplifying a marketplace or financial activity, because an incumbent bank's systems and structures are usually too rigid, old and inflexible to change. That is why the new entrant simplifier can create P2P credit at less than 100 basis points differential (1% difference between their lending and savings rates) compared to a bank's 400 basis points or more. A bank has to cover the costs of their heritage buildings, people and infrastructure. A start-up has none of that legacy or overhead."

On the Wires:

  • NACHA Membership Approves Same Day ACH - “The financial services industry has come together through private-sector rulemaking to increase the speed of payments,” said Janet O. Estep, president and CEO of NACHA. “Same Day ACH serves as an immediate action the industry has undertaken to modernize the payments system, and creates a building block for a variety of products and services. Same Day ACH creates value for end users through the certainty of its reach to all bank accounts in the U.S.”
  • MasterCard Makes Sending and Receiving Money Faster, Easier and More Secure with MasterCard Send - "Through a single connection to the MasterCard Send platform, businesses, merchants, governments, non-profits, issuers and other senders can send money to consumers whether they are banked or unbanked, and located domestically or abroad. By digitizing personal payments that are typically handled via cash or check, MasterCard is providing greater convenience, choice and security to both payment senders and receivers in developed and developing markets."
  • Visa Checkout Announces Enrolled Customer Conversion Rate of Nearly 70 Percent - "A new report from comScore* found that Visa Checkout shoppers convert to online buyers at a rate of 69 percent. This is likely because Visa Checkout customers complete online transactions faster than other shoppers who have to re-enter card and shipping information every time they want to purchase in the traditional check out flow."
  • QuickBooks Online Gets in Sync with PayPal - “Our collaboration with PayPal, and the app we’ve built as a result, further broadens our thriving payments ecosystem,” said Eric Dunn, Intuit's senior vice president for payments and commerce solutions. “Intuit is committed to delivering a range of personalized best-in-class payments solutions for small businesses. Our open platform allows small businesses to use the tools of their choice and therefore operate efficiently in a frictionless environment.”
  • Ripple Labs Closes $28 Million Series A Funding Round - "Ripple Labs, the global leader in distributed payments technology and supporters of the Ripple protocol, today announced that it closed a $28 million Series A funding round that includes IDG Capital Partners and the venture arms of CME Group and global data storage company Seagate Technology. Other new investors include Jerry Yang's AME Cloud Ventures, ChinaRock Capital Management, China Growth Capital, and Wicklow Capital, the investment vehicle for Dan Tierney and Stephen Schuler, co-founders of GETCO (now KCG)."
  • New Ponemon Institute Survey Reveals Time to Identify Advanced Threats is 98 Days for Financial Services Firms, 197 Days for Retail - “The big takeaway from our research is that more investment is needed in both security operations staff and in security tools, which can help companies efficiently and accurately detect and respond to security incidents,” said Dr. Larry Ponemon, chairman and founder, Ponemon Institute. “The time to detect an advanced threat is far too long; attackers are getting in and staying long enough that the damage caused is often irreparable.”

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

May 18, 2015

Headline News from PaymentsNews.com - May 18, 2015

On the Web:

  • Can Google Outsell Amazon and eBay? - Wall St. Journal - "Google Inc. will launch buy buttons on its search-result pages in coming weeks, a controversial step by the company toward becoming an online marketplace rivaling those run by Amazon.com Inc. and eBay Inc."
  • Reid Hoffman: Why the block chain matters - Wired UK - "Why? Because in my experience, the most transformative ideas are not the ones that achieve broad consensus early on. Instead, they're the ones that are so uniquely out there, so contrarian, that even informed observers have wildly differing opinions regarding their potential value."
  • Decoding the Enigma of Satoshi Nakamoto and the Birth of Bitcoin - New York Times - "It may be impossible to prove Satoshi’s identity until the person or people behind Bitcoin’s curtain decide to come forward and prove ownership of Satoshi’s old electronic accounts. At this point, the creator’s identity is no longer important to Bitcoin’s future."
  • Apple Pay seeks alliance with Alipay in China - Want China Times - "Apple CEO Tim Cook said during his trip to China on May 13 that Apple Pay is seeking to ally with Alibaba's Alipay in tapping the Chinese market in order to challenge the dominant status of China UnionPay."

On the Wires:

  • Oberthur Technologies Partners with Samsung for the Launch of Samsung Pay in Europe - "We are very proud to have been the first selected by Samsung for the launch of Samsung Pay in Europe and to bring this new service to the many banks who will partner with us in Europe. Combining our unmatched expertise in the secure provisioning of payment means and other services with PEARL by OT® eSE we are connecting Samsung to a large ecosystem of service providers worldwide,” said Marek Juda, Managing Director of the Solutions Business Unit at OT.
  • NCR Unveils Orderman7 Mobile POS Solution for the Hospitality Industry - "With Orderman7’s large, high-resolution 5-inch HD display, users can assist customers in all types of situations, even in direct sunlight. The Orderman7 gives hospitality employees a “smartphone-like” experience combined with shock-resistant and water-tight design, while featuring programmable side buttons for the most frequently used functions."
  • Toshiba and ITAB Join Forces to Offer Cutting Edge Innovation in Checkout - “In a retail landscape that changes so rapidly, joining in an alliance with Toshiba enables us to deliver unique solutions to the retail market that leverage the combined strengths of both companies,” said Niklas Thoresson, Chief Business Officer, ITAB. “Through our joint solutions, retailers have the opportunity to improve sales and efficiency in their store operations.”

Glenbrook's 2015 Payments Education

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 14, 2015

Headline News from PaymentsNews.com - May 14, 2015

On the Web:

  • PayPal: Powering the Potential of PYPL - PayPal Forward Blog - "I’m honored and thrilled that PayPal is returning to its roots as an independent company. In the second half of 2015 we’ll once again be publicly traded on NASDAQ with our original stock ticker symbol PYPL. This is a meaningful symbol for the company because it represents our unbroken commitment to the spirit of the original vision that sparked the launch of PayPal 17 years ago."
  • Credit-Card Firms Reap Rewards of Consumer Brand Loyalty - Wall St. Journal - "Stuck with slow growth prospects in a saturated market, banks that issue credit cards are increasingly churning out cards that are aimed at creditworthy customers loyal to a store, airline or hotel."
  • Distinction between online, offline blurs for shoppers, but not retailers: report - Mobile Commerce Daily - “We are quickly moving toward a point where there is really no ‘online’ or ‘offline’ if consumers are connected all the time,” said Kasey Lobaugh, Deloitte Digital’s chief retail innovation officer. “However, there’s a divide between the digital functionality retailers provide and the experience consumers want."
  • NTT Docomo’s Iris Scan Phone - Wall St. Journal - "Forget passcodes or fingerprint scans. Now you can unlock a smartphone with the blink of an eye."

On the Wires:

  • American Express Announces Exporting Program to Help Middle Market Companies Grow Globally - “Exporting represents a $928 billion opportunity1 for U.S. mid-sized companies2 over the next 10 years, yet only 17% of middle market firms currently trade internationally3,” said Susan Sobbott, president, Global Corporate Payments, American Express. “The Grow Global program is designed to help demystify the complexities of exporting, and help companies seize the opportunities available by tapping into markets outside the U.S.”
  • Sally Provides Update on Payment Card Investigation - “We believe it is in the best interests of our customers to alert them that we now have sufficient evidence to confirm that an illegal intrusion into our payment card systems has indeed occurred. However, we will not speculate on the scope of the intrusion as our forensics investigation is still underway,” said Chris Brickman, President and CEO.

Glenbrook's 2015 Payments Education

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 13, 2015

Headline News from PaymentsNews.com - May 13, 2015

On the Web:

  • Square raises more money to make small business loans - Fortune - "The company announced on Tuesday that Square Capital, its loan-making division, has raised an additional investment from previous backer, Chicago-based Victory Park Capital ..."
  • Bitcoin may never make it to Wall Street, but its tech will - Wired - "Angel refers to this concept as “the stockchain,” and like Peterson, he sees Nasdaq’s private market technology as a stepping stone to a blockchain-based public market."
  • Blockchain Tech Could Improve Banking, Says EBA Report - CoinDesk - "Blockchain technology has the potential to reduce costs, improve product offerings and increase speed for banks, according to the most recent report from the Euro Banking Association (EBA)."
  • Blockchain technology spells the end of middlemen - Canadian Business - "Blockchain technology’s potential beyond bitcoin is huge: It could replace the multi-trillion-dollar market in third-party verification services that underpins the modern global economy. Services and institutions that act as middlemen to facilitate and verify financial transactions, contract relationships, record-keeping and asset transfers could all be disrupted by blockchains..."

On the Wires:

  • New GSMA Report Finds That Latin America and the Caribbean Have Fastest Growth in Mobile Financial Services Globally - “Great progress has been made in deepening financial inclusion in Latin America and the Caribbean over the last three years,” said Sebastian Cabello, Head, GSMA Latin America. “The region has seen a major increase in the number of adults with bank accounts, however, approximately half of all adults in LAC still remain unbanked. Mobile money services are a powerful tool for expanding financial access in developing markets and will play a critical role in continuing to build a healthy digital financial ecosystem in the region.”
  • Accenture and Moven Join Forces to Transform Digital Banking Solutions - “We set out to change what the world thinks of as a day-to-day bank account, starting from scratch with mobile, and providing customers with advice on spending and savings,” said Brett King, Moven’s CEO and founder. “The alliance with Accenture will be invaluable in helping us mobilize our services globally as we grow to tens of millions of users in a dozen countries. Accenture's phenomenal footprint with the biggest banks in the world, combined with the digital and end-user experience from Accenture Interactive and Fjord, made it the only choice for this global alliance partnership."
  • American Express Board Authorizes Repurchase of up to 150 Million Shares, Announces 12 Percent Dividend Increase - "As previously announced on March 11, 2015, the company was informed that the Federal Reserve did not object to the company’s 2015 capital plan to repurchase up to $6.6 billion of common shares through the second quarter of 2016, as well as to increase the company’s quarterly dividend to $0.29 per share beginning with the second quarter 2015 dividend declaration."
  • Zoho Introduces ACH Payments in its Financial Suite with Forte - "Zoho is now able to offer their customers the ability to accept ACH/eChecks, credit and debit card payments quickly and with confidence using Forte’s robust processing services. In addition, each account includes unlimited access to Forte’s payment gateway, virtual terminal, online reporting and payment tokenization and storage services."

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

May 12, 2015

Headline News from PaymentsNews.com - May 12, 2015

On the Web:

On the Wires:

  • Chase Expands Chip Technology to Debit Cards and ATMs to Help Protect Consumers and Businesses - “Fraud and security threats facing consumer payments today is a complex issue that can’t be solved with any single technology,” said Gordon Smith, CEO of Chase Consumer and Community Banking. “We’re working to employ a variety of approaches to protect our customers – adopting chip technology is a critical step on this journey.”
  • Early Warning and NCR to Enable Cross-Institution Real-time Good Funds Network - "Early Warning’s good funds network will facilitate communication among financial institutions, giving a participating depositing bank a real-time guarantee for check and ACH transactions and will support both credit push and debit models. As a result, customers will receive faster availability of funds on deposited items and instant notification of items presented for deposit – all based on real-time activity."
  • Stratos Unveils Digital Card Issuance Platform at Finovate - “Stratos is reinventing the wallet. Just as consumers have migrated their music collections into digital formats such as iTunes, so too are cardholders now compressing what goes into their wallet,” said Thiago Olson, co-founder and CEO of Stratos.

Glenbrook's 2015 Payments Education

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 11, 2015

Headline News from PaymentsNews.com - May 11, 2015

On the Web:

  • Look Who’s Talking Now - PaymentsViews.com (Russ Jones) - "My interest in “voice” stems from my belief that as microprocessors get smaller and faster, the user interface as we know it will fade into the background. The visual display will go away, the tap and swipe interface will go away, and you will simply talk with devices in a conversational way."
  • Tomorrow's Advance Man - Marc Andreessen’s plan to win the future - New Yorker - "He believes that Silicon Valley is mission control for mankind, which is therefore on a steep trajectory toward perfection. And when he so argues, fire-hosing you with syllogisms and data points and pre-refuting every potential rebuttal, he’s very persuasive."
  • Visa Said in Talks to Buy Visa Europe for Up to $20 Billion - Bloomberg - "Visa and its European counterpart split in 2007 ahead of the U.S. firm’s initial public offering. Analysts have been speculating for years that they could merge."
  • A Bitcoin Technology Gets Nasdaq Test - Wall St. Journal - “Utilizing the blockchain is a natural digital evolution for managing physical securities,” said Nasdaq Chief Executive Robert Greifeld. He said the technology holds the potential to “benefit not only our clients, but the broader global capital markets.”
  • Why Bitcoin Could Be Much More Than a Currency - MIT Technology Review - "For years after TCP/IP was invented, the technology was accessible only to people with a certain level of technical knowledge. Similarly, right now Bitcoin is too arcane for most people and challenging to use even for those who are familiar with it."
  • Visa’s Real-Time Window Into How Americans Spend - Visa Corporate Tumblr - "Visa has released its first publicly available Retail Spending Monitor Report (RSM), which offers a monthly assessment of U.S. retail spending overall and for a variety of individual merchant categories."
  • Even Goldman Sachs wants to jump on the online lending bandwagon - Quartz - "Harit Talwar, who recently left his post as head of card services at Discover after 15 years, will be leading a new effort for the bank to lend money to consumers and small businesses over the Internet..."

On the Wires:

  • R-CISC, the Retail Cyber Intelligence Sharing Center, Signs Strategic Agreement With FS-ISAC to Leverage Services & Technologies for Growth - “In less than a year, R-CISC has made significant advances in its information sharing mission and now we’re launching the next phase of maturity and growth,” says Brian Engle, R-CISC Executive Director. “Partnering with FS-ISAC is a surefire way to help accelerate new tools and offerings to retailers. With this collaboration also comes a greater opportunity for both intra-sector and sector-to-sector sharing.”
  • Heartland Introduces Heartland Secure™ for Restaurants - “Protecting customers is our number one priority and our Heartland Secure solution will cover a restaurant’s payment card industry fines and fees in the case of a breach of card information. The Heartland Secure technology that we pioneered materially reduces the opportunity for criminals to monetize encrypted card data. Restaurant operators with Heartland Secure-certified devices, who are processing with us, are fully protected by our comprehensive breach warranty.”
  • New ACI Worldwide Survey Validates Demand for Same Day Money Transfers - “Same Day ACH provides an option for the consumers, businesses and governments that want to move their money faster,” said Janet O. Estep, president and CEO, NACHA. “It provides an immediate solution for moving payments faster and creates a building block for tomorrow’s products and services. The ACI survey results clearly demonstrate continued industry support for Same Day ACH and underscore the value and importance of the initiative to better meet the needs of customers.”
  • Oberthur Technologies to Launch SMART PREMIERE, a Unique Range of Luxury Payment Cards - "With SMART PREMIERE, we have designed a value-added offer to help banks meet their most challenging customers’ needs with high-end products and build specific offers for each customer category. This strengthens our ability to supply them with turnkey solutions to be their long-term privileged partner“ said Eric Duforest, Managing Director of the Payment Business Unit at OT."

Glenbrook's 2015 Payments Education

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 08, 2015

Headline News from PaymentsNews.com - May 8, 2015

On the Web:

On the Wires:

  • Global Bitcoin Exchange itBit Today Starts Accepting U.S. Customers Nationwide Through New York State Trust Company Charter - “Our mission at itBit has always been to create a trusted, institutional-grade exchange and regulatory compliance is an important pillar of that mission,” said itBit CEO and co-founder Charles Cascarilla. “Regulatory approval from the NYDFS allows us to serve as a custodian for our clients’ assets and expand our services to U.S. customers – the largest market of bitcoin traders in the world – and allows us to do so with the highest standard of care afforded by any Bitcoin company.”
  • Elavon Promotes Wally Mlynarski to Lead Global Product and Innovation - “Wally has been instrumental in driving Elavon’s efforts to bring some of our most sophisticated products and services to market that allow customers to engage consumers as they shop online, offline and via mobile devices,” said Simon Haslam, president and CEO of Elavon. “Wally’s new role speaks to his many talents as well as Elavon’s commitment to attract and develop the best talent in the industry.”
  • NCR Modernizes Payments Infrastructure with Launch of Latest Version of Authentic - “We are committed to providing our customers with a modern, flexible payments infrastructure that will grow with them and enable them to respond to any demands the business places on them,” said Steve Nogalo, vice president and general manager of Payments Solutions at NCR. “With the latest version of Authentic, we have incorporated the flexibility of the Google Web Toolkit, as well as providing new features and enhancements to further improve usability and flexibility. With Authentic we constantly strive to deliver a solution that our customers can rely on today and in the future – whatever the future may bring.
  • Green Dot Reports First Quarter 2015 Financial Results - ""These positive results represent our first full quarter of the new, consolidated Green Dot, inclusive of our acquisition of TPG and two smaller prepaid program managers, AccountNow, Inc. and Achieve Financial Services, LLC. Despite being negatively impacted by approximately $12 million resulting from fewer reload transactions attributed to the discontinuation of MoneyPak, we posted significant revenue and adjusted EBITDA growth during the period as a result of both the incremental revenue and EBITDA contribution from our new acquisitions and better-than-expected performance in our organic branded and private label account business."

Glenbrook's 2015 Payments Education

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 07, 2015

Headline News from PaymentsNews.com - May 7, 2015

On the Web:

  • PayPal co-founder raises $275 million to reinvent credit - "Banks and financial institutions have not created products that serve younger generations in the most efficient way, according to Max Levchin, the co-founder of eBay-owned payments giant PayPal."
  • BitBeat: Day After FinCEN Bombshell, Ripple Labs Addresses Concerns - Wall St. Journal - "Even with these clarifications, questions and speculation will continue to percolate around FinCEN’s dramatic action against the second-biggest digital currency in market capitalization terms."
  • Visa Moves At The Speed Of Money - Forbes - "None of which seems to faze Visa’s chief executive, Charlie Scharf. In time, he says, would-be Visa disruptors all discover–just as Internet upstarts PayPal, Square and Uber did–that it is simply easier and more economical to work with his leviathan than fight it."

On the Wires:

Glenbrook's 2015 Payments Education

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 06, 2015

Headline News from PaymentsNews.com - May 6, 2015

On the Web:

On the Wires:

  • Pitney Bowes Expands Cross-Border Ecommerce Capabilities with the Acquisition of Borderfree - “The acquisition of Borderfree not only makes sense for our clients, it accelerates our strategic vision to grow our company through expansion of our digital commerce businesses,” said Marc B. Lautenbach, President and Chief Executive Officer, Pitney Bowes. “The combination of Borderfree’s cross-border ecommerce capabilities with our own solutions expands our portfolio of offerings and extends our global reach."
  • FinCEN Fines Ripple Labs Inc. in First Civil Enforcement Action Against a Virtual Currency Exchanger - "Ripple Labs willfully violated several requirements of the Bank Secrecy Act (BSA) by acting as a money services business (MSB) and selling its virtual currency, known as XRP, without registering with FinCEN, and by failing to implement and maintain an adequate anti-money laundering (AML) program designed to protect its products from use by money launderers or terrorist financiers."
  • Tipalti Expands International ACH Global Payments Coverage - “As our network economy customers continue to expand their international partner and supplier footprint to new markets, we will continue to provide more and more payment options around the world to support our clients’ rapid global growth,” said Chen Amit, founder and CEO of Tipalti.
  • WEX Inc. Introduces FlexCard, the New Revolving Fuel Card for Small Businesses - “Although many businesses are enjoying lower fuel prices today, our research shows that nearly half of businesses’ operating costs are fleet related and about half of that is for fuel,” said Peggy Watson, WEX’s vice president of North America fleet product and marketing. “For 30 years, WEX has helped businesses manage fuel and vehicle services expenses, and this customized solution addresses small businesses’ need for cash flow flexibility.”
  • AcceptEmail, Western Europe’s Leader in Consumer Bill Payments, Opens for Business in New York - "AcceptEmail is the market leader for consumer remittances in Western Europe. IntelligentHQ.com named the company one ofEurope’s 50 Hottest FinTech Companies in 2014 for its smart email and mobile billing solutions. Companies that send AcceptEmails experience up to 50% quicker payments, 70% lower billing and reminder costs, and 20% improved customer satisfaction (net promoter scores)."
  • Seamless Distribution AB: SEQR to Be Launched in the US This Summer - "SEQR has received a warm welcome here in the US, because of its value propositions for both the merchants and consumers. Having seasoned market industry personnel on staff has also been key to actively cultivating our partnerships and together we have developed the services to fit the local market, says Kenneth Douglas SVP Business and Partnership Development for SEQR in the US."
  • Smart Payment Association (SPA) releases total market estimate 2014 figures - "In 2014, over 2050 million chip payment cards were shipped across the world. The figure was reached just three years after global shipments exceeded the one billion mark in 2011."

Glenbrook's 2015 Payments Education

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 05, 2015

Headline News from PaymentsNews.com - May 5, 2015

On the Web:

  • Faster Now Faster? - PaymentsViews.com (Carol Coye Benson) - "Today I want to express my enthusiasm about these developments, beam encouragement at the industry, and advocate for a few additional points that I think are important in the design phase."
  • MasterCard’s New Chief Commercial Officer Taking Digital Payment Tech Beyond Lab - Wall St. Journal - "Betty DeVita, former president of MasterCard Canada, starts Tuesday, charged with commercializing ideas that come out of MasterCard Labs, a technology research group started in 2010. Among her first priorities will be Qkr, a payments technology that lets consumers place orders and pay bills with a MasterPass digital wallet."

On the Wires:

  • Widespread UK launch of V.me by Visa - Kevin Jenkins, managing director UK & Ireland at Visa Europe commented: “The UK is the European leader of online commerce with a valuable and diverse range of companies that conduct business online. This announcement is a further proof point of our ability to innovate, building on our market success in contactless. We’re excited to be working with our member banks and many of the UK’s leading retailers to do this and look forward to new partners coming on board.”
  • MasterCard Supports U.S. Small Businesses Making Big Shifts to Chip Cards - “Chip cards all but eliminate counterfeit fraud. We know this because we’ve seen significant fraud reductions in all 80+ countries where EMV has been implemented,” said Carolyn Balfany, senior vice president of Product Delivery – EMV, MasterCard. “The power of chip is realized as more cards and terminals are enabled and used. The goal isn’t to move card fraud around the system. The goal is to drive card fraud out of the U.S. – benefitting banks, merchants and, most importantly, consumers.”
  • Boku Launches on Google Play in the Middle East“By connecting with Boku, Zain KSA brings tremendous value to their subscribers who want a trusted and seamless way to purchase their favorite Google Play content,” said Boku CEO Jon Prideaux. “Given our leading market position, Boku is well positioned to extend this partnership to other carriers across the globe. The opportunities for carriers are truly limitless when a company with Boku’s global footprint integrates with one of the world’s most popular app stores.”

Glenbrook's 2015 Payments Education

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 04, 2015

Headline News from PaymentsNews.com - May 4, 2015

On the Wires:

  • American Express Launches New Plenti SM Cobrand Credit Card and Membership Rewards® Points Transfer Relationship - "Plenti is the first loyalty coalition involving major U.S. brands that lets consumers earn Plenti points at one place and use them for savings at another. Partners include many of the places where customers shop and spend every day, such as AT&T, Exxon, Macy’s, Mobil, Nationwide, Rite Aid, Direct Energy, Enterprise Rent-A-Car and Hulu."
  • Plenti℠ – First US Coalition Loyalty Program Available Now - "Plenti members can use any form of payment that the partner accepts at checkout – cash, credit, debit or prepaid. This means that if they have a card product with other rewards benefits, they’ll earn those rewards in addition to the points collected through Plenti."
  • Visa Launches Online Toolkit to Educate Business Owners on Benefits of Chip Technology - “Chip technology will bring an important new layer of security for credit and debit cards by helping to make stolen account information useless to criminals,” said Stephanie Ericksen, vice president of Risk Products, Visa Inc. “It is a priority to increase merchant awareness and understanding, given a liability shift in October 2015, after which merchants who are not ready to accept chip cards may be responsible for counterfeit fraud.”
  • Payment Security Task Force: Issuers Forecast U.S. Shift to Chip Cards To Be Nearly Complete by 2017 - "Eight financial institutions, representing approximately 50 percent of the total U.S. payment card volume, estimate that 63 percent of their credit and debit cards will contain EMV chips by the end of this year, expanding to 98 percent by the end of 2017. The forecast reaffirms the ongoing commitment to chip migration as a step toward increasing U.S. payment security across the ecosystem."
  • MasterCard Business Network 2.0: For U.S. Business Owners, It’s About Time…And Money - “Business owners have a split second to switch from being the CTO to the CFO to the CMO of their companies. MasterCard Business Network 2.0 helps save time by putting c-suite level information at business owners’ fingertips, all just a click away,” said Jay Singer, senior vice president of U.S. Commercial Products, MasterCard. "We give business owners the information they need, at the moment they need it, helping their businesses grow. And we are now offering these tools at significant savings."
  • FIS Reinvents Banking Access in India, One ‘e-Lobby’ at a Time - “Karnataka Bank’s mission is to serve our customers in a technologically savvy, high-quality manner,” said Sri. P. Jayarama Bhat, managing director & chief executive officer, Karnataka Bank. “Not only will FIS’ support allow us to better focus on our customers, it also will make us one of the first mid-sized banks in India to provide e-lobby access, extending more convenient access to our customers and allowing us to better compete with larger banks.”

Glenbrook's 2015 Payments Education

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, 2015

Headline News from PaymentsNews.com - May 1, 2015

On the Web:

On the Wires:

Glenbrook's 2015 Payments Education

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 30, 2015

Headline News from PaymentsNews.com - April 30, 2015

On the Web:

  • New Circle Investors, New US Dollar Account Features, China Horizons - Circle Blog - "Today we announced a major step forward in the execution of our vision and product strategy. We've closed a new $50 million strategic investment round co-led by Goldman Sachs and IDG Capital Partners."

  • This Digital Wallet Could Finally Get You Into Bitcoin - "In other words, the Circle wallet will soon work just like Venmo or any other money-transfer app, except it also works seamlessly with bitcoin, so you can handle your money in the form you value the most."

  • Capital One exec predicts mass shift to Apple Pay this year - Mobile Commerce Daily - “I really believe we’re going to have this mass shift over to contactless payments,” Mr. Moreton said. “What you see is this huge change over a relatively short period of time.”

  • In Code We Trust - New York Times Magazine - "One way to understand this chaos is to see that power is shifting. The authority to create, move and define money — once confined to central banks and treasury departments — is being dispersed to an odd mix of entrepreneurs, libertarian hackers and old-line banking institutions."

  • Financial Giants Set Up Tech Hubs in Manhattan - Wall St. Journal - "MasterCard is one of several big-name financial services firms that are opting to set up tech divisions in prime Manhattan real-estate markets outside of their headquarters because many increasingly see themselves more as technology companies."

  • Online hackathon seeks to build solutions using Aadhaar app interface - Business Standard - "AngelPrime, a seed-stage venture capital fund based in Bengaluru, and Nasscom, in collaboration with UIDAI, will host the first of its kind online 'Aadhaar Application Hackathon' in June this year. The hackathon aims to encourage and promote the development of applications using the Aadhaar application programme interfaces (APIs)."

  • Bitcoin Could Impact Credit Unions, Report Says - CoinDesk - "...we could see the proliferation of a host of new financial services backed by bitcoin, many of which are directly associated with the core businesses of credit unions today."

On the Wires:

  • Visa Inc. Reports Fiscal Second Quarter 2015 Net Income of $1.6 billion or $0.63 per Diluted Share - “Visa reported another solid quarter of financial results against the continued backdrop of a tepid global economy. While the negative impacts from the strengthening of the U.S. dollar and lower gasoline prices continued to exert pressure on revenue growth, our results and volume trends have remained strong,” said Charlie Scharf, Chief Executive Officer of Visa Inc.

  • Visa Expands Global Technology Research; Hires Senior Scientist to Lead Visa Research Labs - “Digital commerce is rapidly evolving due to the introduction of new technologies. As the world becomes more connected, every device, car, or appliance becomes a place where secure digital commerce can take place,” said Rajat Taneja, Executive Vice President, Technology, Visa Inc. “I am excited to expand our technology research efforts and have Min lead Visa Research Labs. This effort has the potential to shape the way we pay and get paid in the future, and transform the lives of millions of unbanked consumers by finally providing them with access to secure digital commerce.”

  • MasterCard Named Exclusive Card Processor by Green Dot Bank - Green Dot Chief Operating Officer, Kuan Archer said, "Our processing technology team has been working closely with MasterCard for the past 15 months on the integration of our two technology platforms. While certainly this project has required a significant amount of time and effort, we believe the ultimate end-state of having the most state-of-the-art, high-scale processing platform underpinning our current and future suite of modern banking products and mobile solutions will pay off in terms of our ability to create new, innovative products and services."

  • Visa: Payments Industry Moves to Help Simplify Chip Card Acceptance - "The Payments Security Task Force today joined with the PCI Security Standards Council and the EMV Migration Forum to launch a chip education curriculum and “pre-qualification” program to help streamline and simplify the EMV testing and certification process for Value Added Resellers (VARs) and Independent Software Vendors (ISVs). ... To learn more about the educational efforts, visit
    http://www.emv-connection.com/chip-education-for-vars-isvs-and-merchants/

  • Stratos Card Begins Shipping In April - "Stratos Card combines credit, debit, membership, gift and other magnetic stripe cards in one digital Bluetooth card."

Glenbrook's 2015 Payments Education

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 29, 2015

Headline News from PaymentsNews.com - April 29, 2015

On the Web:

On the Wires:

  • MasterCard Incorporated Reports First-Quarter Financial Results - “We are managing well, despite a mixed economic environment and challenging currency situation,” said Ajay Banga, president and CEO, MasterCard. “The underlying fundamentals of our business remain unchanged, driving our ability to sign new agreements with Citi and Itaú, work with digital giants and expand our support of the merchant community. This, combined with our focus on costs, allowed us to continue to deliver solid results in the first quarter.”
  • Merchant Customer Exchange (MCX) Appoints Brian V. Mooney Chief Executive Officer - "Mooney was most recently CEO and a board member of Bank of America Merchant Services, one of the largest U.S. merchant payment acquirers, serving a significant segment of large U.S. merchants and handling billions of transactions."
  • Banking with a Fingerprint: Digital Insight Offers Touch ID to Access Finances - “Touch ID frees consumers from having to enter their username and password in order to access their finances,” said Dan Weis, senior product manager at Digital Insight. “The speed and ease-of-use of Touch ID will provide financial institutions another innovation to offer their customers and members and further help them differentiate in the marketplace.”
  • Patent Trial and Appeal Board Grants PQI’s Requests for Review of Three Patents Related to Loyalty Programs - "In October, Askeladden filed six IPR petitions requesting review of the three patents, U.S. Patent Nos. 8,297,502, 8,523,063 and 8,540,152, on the grounds that they are invalid. The PTAB issued decisions on April 23, 2015, which found that Askeladden’s petitions established a reasonable likelihood that each of the claims in each of the patents is invalid. A final decision on invalidity is expected within one year."
  • Introducing Amazon Business: Everything You Love About Amazon, For Your Business - “We’ve heard from business customers that they love the convenience of shopping online, and want an experience at work that is similar to how they shop at home,” said Prentis Wilson, Vice President of Amazon Business. “Amazon Business delivers a new and expanded marketplace that brings the selection, convenience and value of Amazon to business customers, manufacturers and sellers with the additional selection, features and back-end integration businesses need to save time and money.”
  • Western Union and U.S. Bank Extend Relationship - Carter Hunt, Senior Vice President and General Manager, Western Union U.S., said, “We are pleased to extend our relationship with U.S. Bank, and we remain committed to bringing customers the high level of customer service and innovation they have come to expect from our company.”

Glenbrook's 2015 Payments Education

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, 2015

Headline News from PaymentsNews.com - April 28, 2015

On the Web:

On the Wires:

  • Chase Commerce Solutions and USA Technologies Form Strategic Relationship - “We continue to enable commerce through a simple, secure payment experience for consumers and for our business clients,” said Kimberly Fitzsimmons, U.S. Market President for Chase Commerce Solutions. “We are pleased to work with USA Technologies, a market leader in this important and rapidly emerging space to accept all types of payments easily and securely.”
  • Synchrony Financial and Stash Hotel Rewards Announce Exclusive Agreement to Provide Co-Brand Credit Card Program - “We created Stash because we saw travelers passing on exceptional hotel experiences to stay at predictable chain hotels, just so they could earn points,” said Jeffrey Low, Founder and CEO of Stash Hotel Rewards. “Stash is designed to let the traveler have it all – a memorable stay and meaningful rewards. By partnering with Synchrony Financial we’re creating a card that accelerates rewards while keeping with our tradition of remarkable experiences without compromise.”
  • Citi Prepaid Services and Enservio Announce Partnership for Prepaid Insurance Payments - Deirdre Ives, Global Chief Operating Officer of Citi Prepaid Services, said, “We are excited to partner with Enservio to provide our prepaid cards to their flexible, innovative, and cost-effective payment solution for the insurance vertical. Prepaid cards are a smart alternative to checks, and our award-winning prepaid product simplifies claims payments for insurance clients while delivering an exceptional cardholder experience.”

Glenbrook's 2015 Payments Education

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 27, 2015

MasterCard Announces Acquisition of Applied Predictive Technologies

MasterCard logo 140pxAfter today's market close, MasterCard announced it was acquiring Applied Predictive Technologies (APT) for $600 million.

Applied Predictive Technologies is a leading cloud-based analytics provider. APT’s Test & Learn® platform helps companies tailor investments and maximize bottom-line impact by harnessing analytics to design, measure and calibrate marketing, merchandising, operations and capital initiatives.

This acquisition advances MasterCard's agenda to deliver differentiated services to merchants, complementing its recent acquisition of 5One, a London-based retail consulting and analytics firm. As part of the company's services portfolio, Applied Predictive Technologies will now have access to MasterCard's analytics suite, consulting capabilities, marketing services and global footprint that will expand its reach and value.

“In today’s competitive business climate, companies need analytics that are easy to use and drive action,” said Kevin Stanton, president of MasterCard Advisors. “APT’s world-class talent, technology and Test & Learn platform, matched with MasterCard’s analytics, will give our customers the advantage of enhanced and actionable decision making.”

Headline News from PaymentsNews.com - April 27, 2015

On the Web:

  • Payments Innovation Jury Report 2015 - The Payments Innovation Jury Report is a report released every two years, detailing global trends in payments innovation, and future opportunities and challenges for the industry. The report is based on the expertise of a panel of 40 business leaders in the payments sector from 23 countries across six continents. Authored by industry insider John Chaplin, the research is essential reading to FinTech investors, innovators, established payments firms and all others involved in the sector. The research is sponsored by Currency Cloud, a Payments Engine transforming the industry, Ixaris, an innovator in electronic payments, and WorldRemit, an online money transfer service.
  • Apple Pay Coming to Best Buy Stores as Retailer Breaks Ranks From Walmart-Led Rival - Re/code.net - "Best Buy is the first big-name U.S. retailer to break ranks with a Walmart-led Apple Pay competitor, announcing today that it will accept Apple’s digital payment system in its U.S. stores later this year."
  • CurrentC mobile pay to kick off in a single market mid-year - Computerworld - In its email on Monday, Rankin said it is "protocol-agnostic" and works in test mode across QR code, Bluetooth and others. "We are in market today with multiple technologies and not opposed to using NFC in the future," he said.
  • Exclusive: Bitcoin company Circle raising new cash - Fortune - "Circle Financial ... is in the midst of raising around $40 million at a pre-money valuation of approximately $200 million, Fortune has learned from multiple sources."
  • Bitcoin’s Q1: Record VC Investment, Falling Prices, And Slow Consumer Adoption - TechCrunch - "The bitcoin-watching news service CoinDesk recently released its first quarter look into the cryptocurrency’s performance during the opening months of 2015."

On the Wires:

  • Apple Reports Record Second Quarter Results - “We are thrilled by the continued strength of iPhone, Mac and the App Store, which drove our best March quarter results ever,” said Tim Cook, Apple’s CEO. “We’re seeing a higher rate of people switching to iPhone than we’ve experienced in previous cycles, and we’re off to an exciting start to the June quarter with the launch of Apple Watch.”
  • Apple Pay Now Accepted in Best Buy App, Coming to Stores Later This Year - "Starting today, Best Buy customers can use Apple Pay to make purchases in the Best Buy app when using an iPhone 6 or iPhone 6 Plus. A free update is now available in the Apple App Store. All U.S. Best Buy stores will begin accepting Apple Pay later this year."
  • Discover to Bring Apple Pay to Cardmembers - “As the mobile payments landscape matures, Discover remains committed to giving cardmembers secure options for using their cards and mobile devices,” said Diane Offereins, Discover’s president of payment services. “Discover’s focus on simplicity and value for our cardmembers aligns well with the way Apple Pay makes purchases easy and convenient.”
  • Global Payments Launches EMV and Contactless Mobile Payments Solution in Canada - "Global Payments Inc. today announced the launch of the new Ingenico Companion Mobile Payment (iCMP) MPOS – a turnkey mobile point-of-sale solution offering full debit and credit EMV and contactless payment acceptance to Canadian merchants."
  • ACI Worldwide: Nearly 80 Percent of Banks, Retailers and Billing Organizations Know They are at Risk of Customer Attrition… - "Surprisingly, given the recent years of legislation across the world, retailers and billing organizations want to work together to provide a richer consumer experience and to slash costs by cutting out intermediaries. 44 percent of organizations claim they are already taking steps to, or would like to eventually, reduce the number of intermediaries in the payments value chain."

Glenbrook's 2015 Payments Education

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, 2015

Headline News from PaymentsNews.com - April 24, 2015

On the Web:

  • The Death of Cash - Bloomberg Business - "Pause for a second and marvel at how strange this is. Banks have always paid interest to depositors. We’ve entered a new era of surplus in which banks—some, anyway—are deigning to accept money only if customers are willing to pay for the privilege."

On the Wires:

  • New Brand Campaign: Wells Fargo Celebrates Why We Work - “By recognizing and appreciating people’s hard work, and, importantly, why they do it, we are showing them we understand their desires and needs. We believe their ability to see that in us is fundamental to customers welcoming Wells Fargo to help them succeed financially,” said Jamie Moldafsky, Wells Fargo’s Chief Marketing Officer. “Caring is core to who we are at Wells Fargo, a belief that very much influenced our approach to this campaign.”
  • Fidelity Mobile® for Apple Watch™ Lets Investors Track Markets with a Twist of the Wrist - “Fidelity’s goal is to consistently provide customers with innovative ways to stay connected to the market and their investments anytime, anywhere,” said Richard Blunck, executive vice president of digital distribution at Fidelity. “The elegant and innovative design of the Apple Watch, coupled with Fidelity's app, will provide investors with fluid access to financial information on the go.”
  • Charles Schwab Introduces Apple Watch App and Unveils Enhanced Mobile Experience - “Our clients are passionate about the markets and they want to take advantage of the latest innovations in mobile technology to stay connected nearly every waking hour. This exciting new era of wearable technology elegantly extends Schwab’s powerful mobile capabilities to the Apple Watch, giving investors the unprecedented ability to literally bring the markets with them wherever they go1,” said Diane Russell, Senior Vice President of Platform and Product Management at Charles Schwab.

Glenbrook's 2015 Payments Education

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!
Glenbrook Partners

PAYMENTS NEWS IS PRODUCED BY AND IS A SERVICE MARK OF GLENBROOK PARTNERS, LLC
ISSN 1556-4487

Glenbrook's Consulting Services

  • Innovation and Strategy
  • Payments Product Development
  • Payments Market Assessments
  • Payments Vendor Selection
  • Merchant Payments Optimization
  • Payments Risk Management
  •  
  • To discuss how Glenbrook can
    help you
    , email us:

Glenbrook's Payments Education

  • Payments Boot Camps
  • Payments Essentials Webinars
  • Private Payments Workshops
  •  
  •  
  •  
  •  
  • For more information on Glenbrook's payments education, email us:

Tools for Payments Professionals

  • Glenbrook Writings
  • Payments News
  • Payments Views
  • Payments Jobs
  • Payments Education
  • Payments Bookstore
  •  
  • To send us news that you'd like us to cover on Payments News, email us:

Contacts:                        
Compilation Copyright © 2002 - 2015 Glenbrook Partners LLC. All Rights Reserved.
Terms of Use        Privacy Policy        RSS Feed        Payments News RSS Feed

Subscribe to Payments News   

Follow Payments News on Twitter for Real-Time Updates