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July 29, 2016

Headline News from PaymentsNews.com - July 29, 2016

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

ON THE WEB

  • Big Banks Turn Silicon Valley Competition Into Profit - Bloomberg - "Predictions that banks are about to be disrupted by tech-driven upstarts are starting to look a bit like LendingClub Corp.’s stock. The online loan marketplace’s value soared in late 2014 and has since slid more than 80 percent. Banks including JPMorgan, Goldman Sachs Group Inc. and American Express Co. are finding all sorts of ways to profit from such challengers -- via partnerships, funding arrangements, dealmaking and, sometimes, mimicking their ideas."
  • The rise and rise of Mexican fintech - Tech Crunch - "While ecosystem observers may have predicted this momentum, it’s worth taking a step back to analyze the forces driving Mexico’s fintech ascent in order to provide a framework for other industries and countries in the region."
  • I suspect that the people who are serious about decentralized trusted computing are neither Bitcoin maximalists nor Ethereum enthusiasts. - Medium - "The best approach is to use the blockchain as a shared “input tape” for off-chain programs. This keeps the blockchain agnostic to the programs that use it (so we shouldn’t ever need to hard-fork it to fix program bugs), and ensures that programs can be individually replaced and upgraded without affecting anyone but their users. "
  • New Bill Would Increase #CFPB’s Authority - TMB blog - "As Congress considers this recently introduced legislation, continued changes to credit scoring models appear inevitable. Community financial institutions should keep apprised of any legislative changes. Watch for future blog posts for updates on this evolving legislation."
  • Gen Z's in-store expectations - the next challenge for retailers - BizReport - "The next five years will see a widening gap between shoppers expectations and the reality of what a store can deliver thanks to the coming of age of Generation Z, according to a new report from Vodat International."

ON THE WIRES

  • Fidor Group acquired by Groupe BPCE - "Fidor Group, the German digital challenger bank and fintech pioneer, is today announcing its acquisition by Groupe BPCE , the second largest banking group in France."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

UPDATES FROM GLENBROOK

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

July 28, 2016

Headline News from PaymentsNews.com - July 28, 2016

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

ON THE WEB

  • Banks Look Up to the Cloud as Computer Security Concerns Recede - Bloomberg - "For years, banks have been outliers, shunning web-based data centers run by Amazon, Microsoft Corp. and International Business Machines Corp. Pressures to reduce costs and innovate are changing that. Of the world’s 38 largest financial institutions and insurance companies, 25 have signed up with Microsoft and are beginning to put applications in the cloud. "
  • Kenya’s PesaPal is moving into the physical world with its first point-of-sale system - Quartz - "Within the next 30 days, we will launch what we feel is an African adaptation of what Square and Shopify look like. We are moving from e-com payments to point-of-sale payments, says Liko. “It is supposed to support mobile money, cards and move a little bit more making the owner of the business run it more independently."
  • Set It and Forget It: Square Eliminates Settlement Wait Time by Offering Scheduled, Same-Day Deposits - Square blog - "Today, with the introduction of Scheduled Deposit, Square gives sellers the option to deposit their daily sales in their bank account the very same day, seven days a week. For just 1% of the total deposit amount, sellers get their money when they need it, without extended wait times — including holidays and weekends."
  • Korean Bank Partners With Bitcoin Startup Circle - Coindesk - "One of South Korea's largest banks has inked an agreement with the best funded startup working in the bitcoin space. KB Kookmin announced the signing of a memorandum of understanding with bitcoin payments startup Circle, as well as local startup Coinplug, today. Coinplug, which is based in South Korea, was previously revealed to be working with the bank to develop a blockchain remittance prototype."
  • Monese, the UK banking app for immigrants and expats, finally lands on iOS - TechCrunch - "For all the hype around fintech, not least in London, Monese is a startup that has pragmatism at its heart. It’s not trying to be an actual bank — in the technical, banking license sense — but does enable immigrants and expats, who might otherwise find it hard to open a bank account outside of their home country, to access core banking services."
  • McDonald’s supersizes mobile sales strategy with 5M installs in Q2 - Mobile Commerce Daily - "McDonald’s revealed during its second-quarter earnings call that it has seen 12 million downloads of its application and an average check increase among consumers who redeem mobile offers, a feat likely accomplished due to the chain’s focus on welcome incentives for new users."
  • NFC is Winning in Germany - Verifone blog - "German retailers are recognizing the opportunities contactless payments provide. By the end of 2016, 60 percent of large retailers will offer NFC payment in Germany. Of the remaining, two-thirds are open to integrating NFC in their payment infrastructure in the near future. Grocery stores particularly favor this technology – all multi-lane grocers in Germany have invested in contactless payment solutions."
  • EMVCo Introduces ‘Payment Account Reference’ to Support Tokenization - Payments Afrika - "As PAR has been introduced to benefit merchants and acquirers, they will be expected to absorb the majority of the implementation costs. The key question, therefore, is whether the potential benefits justify the investment. In contrast, the issuer and processor community is set to gain little or no benefit from PAR, so any costs they face will be somewhat hard to swallow. "

ON THE WIRES

  • New Survey Finds Mobile Wallets at Tipping Point for Consumer Adoption - "Mobile wallets, the report says, are now among the top four ways consumers prefer to stay updated on sales, offers and coupons, alongside decades-old channels including websites, email and text/SMS. Adoption is especially high for British millennials, an age group where mobile wallets overtook websites as the second most preferred communication channel (email, 59 percent; mobile wallets, 54 percent; websites, 52 percent; apps, 46 percent)."
  • Western Union Successfully Completes Southwest Border Monitor Primary Recommendations - "The monitor appointed by the Maricopa County Superior Court, in the State of Arizona, has concluded that Western Union has successfully implemented an effective anti-money-laundering program and implemented all the primary recommendations made by the office of the monitor."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

UPDATES FROM GLENBROOK

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

July 27, 2016

Headline News from PaymentsNews.com - July 27, 2016

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

ON THE WEB

  • Visa Europe Partners for Bitcoin Micropayments Trial - Coindesk - "Bitcoin micropayments startup SatoshiPay is developing a new proof-of-concept with Visa Europe's innovation unit. Work on the project was first disclosed earlier this year, when Visa Europe Collab said that it was exploring bitcoin micropayments for connected devices. At the time, the company indicated it was looking at use cases like smart light bulbs that could pay for their own electricity."
  • Australian Banks Looking To Collectively Boycott Apple Pay - Ubergizmodo - "It turns out that the four big banks in Australia – NAB, Commonwealth, ANZ, and Westpac have asked Australia’s competition regulator permission to join forces and collectively boycott Apple Pay, at least until they can collectively negotiate some kind of deal."
  • A “Classic” Economic Principle Among Blockchains - Medium - "Ethereum is currently a fiscal battle ground over ethical concerns that has produced more than one field to do battle in, and believe it or not that’s probably ok in the long run. If there’s anything the cryptocurrency space has produced in abundance, it’s a variety of blockchains."
  • NY&Co rings up in-store traffic with wide-scale beacon deployment - Mobile Commerce Daily - "Following a successful beta test, New York & Company said today that it is rolling out shopkick-enabled beacons to more than 170 of its locations, enabling consumers to earn loyalty points for walking into a store and for visiting a fitting room."
  • Reach Millions of Users by Accepting Venmo as a Way to Pay - Braintree blog - "Earlier this year we announced that exclusively through the Braintree SDK, a limited number of Venmo users would get to experience the familiar delight and ease of paying merchants with Venmo within their favorite apps. Now, along with our friends at Venmo, we are thrilled to announce that all Venmo users will be able to make purchases beginning tomorrow."
  • Cybercrime Overtakes Traditional Crime in UK - Krebs on Security - "In a notable sign of the times, cybercrime has now surpassed all other forms of crime in the United Kingdom, the nation’s National Crime Agency (NCA) warned in a new report. It remains unclear how closely the rest of the world tracks the U.K.’s experience, but the report reminds readers that the problem is likely far worse than the numbers suggest, noting that cybercrime is vastly under-reported by victims."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

UPDATES FROM GLENBROOK

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

July 26, 2016

Headline News from PaymentsNews.com - July 26, 2016

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

ON THE WEB

  • Money as Message: How WeChat got users to adopt payments as a way to grow its network - Andreessen Horowitz blog - "Network effects — where a product or service becomes more valuable to its users as more people use it — are one of the key ways software businesses maintain a better product and more defensible market position. This is especially true of messaging apps like WeChat — which, as I’ve argued before, is not just a messaging app but is actually more of a portal, a platform, and a mobile operating system. However you label it, WeChat is an entire ecosystem in and of itself, especially as it’s used in Asia. This is largely enabled by the sheer amount of payments credentials attached to user accounts, which significantly reduces friction in transacting across the marketplace, both online and offline."
  • How One Community Bank Closed Its Branches And Went Fully Digital - The Financial Brand - "A few years ago, Radius Bank had six branches. Today it has only one. "
  • In Rejecting Bitcoin as Money, Florida Court Sets Likely Precedent - Coindesk - "Observers say that the ruling exposes how state statutes don’t account for bitcoin and digital currencies – a gap that could ultimately lead to legislative action both in Florida and beyond."
  • QR code payments get one step closer in China - Mobile Commerce News - "This form of transaction has already been in use in other countries for several years. However, for the last two years, QR code payments have been stuck in a regulatory midpoint without any real progress. This occurred when the central bank suspended this type of mobile wallet service, generating considerable controversy."
  • Transistors will stop shrinking in 2021, but Moore’s law will live on - Ars Technica - "7 Transistors will stop shrinking after 2021, but Moore's law will probably continue, according to the final International Technology Roadmap for Semiconductors (ITRS)."

ON THE WIRES

  • Visa to Open New Silicon Valley Office - "Visa Inc. (NYSE:V) today announced plans to open a new office in Silicon Valley as part of its continued efforts to accelerate digital commerce globally. The new 62,000 square foot facility, located in Palo Alto, will be a combination of office and collaboration spaces for approximately 300 Visa employees focused on technology research, business intelligence, data security and merchant solutions."
  • WePay Crosses Atlantic with Integrated Payments for the U.K. - "WePay, the leading provider of payments-as-a-service for online platforms including crowdfunding and business software platforms like GoFundMe, FreshBooks, and Constant Contact, today announced its expansion into the United Kingdom. This means platforms can now serve U.K. users with the same fully-integrated, white label payments services they enjoy from WePay in the U.S. and Canada. WePay has also extended its best-in-class fraud risk protections, compliance and support offerings to new U.K. business."
  • One Horizon Launches Android Mobile Wallet for Cashless Payments - "One Horizon Group, Inc. (NASDAQ: OHGI), a leading carrier-grade VoIP solution for mobile providers and smartphones, today announced that it has released a new service for mobile operators to allow users to purchase call credit using their debit or credit card. Our smartphone top up service is being offered first through Smart Communications, the Philippines leading wireless service provider for its Smart Roamer1 and Marino All Abroad2 mobile app brands."
  • Discover Survey: Consumers Who Regularly Check Their Credit Score Say Doing So Improves Credit Behavior - "Survey results show that 73 percent of regular checkers – those who checked their credit score seven or more times in a year – said that checking their score had a positive impact on their credit behavior, such as paying bills on time, paying down loans and maintaining low balances on their credit cards."
  • Netcetera to Safeguard Online Payments with Entersekt Authentication - "Entersekt, a world leader in authentication and mobile app security, has announced a partnership with Netcetera, a developer and operator of highly secure and convenient payment systems. Entersekt will provide the Zurich-headquartered company with push-based transaction authentication software engineered to protect card-based online payments through a highly secure but user-friendly adaptation of the 3-D Secure process."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

UPDATES FROM GLENBROOK

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

July 25, 2016

Headline News from PaymentsNews.com - July 25, 2016

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

ON THE WEB

  • Inside the Visa / PayPal Partnership - Payments Views from Glenbrook (Russ Jones) - "After a great deal of speculation, Visa and PayPal (or is it PayPal and Visa?) have announced a partnership where the two companies will “collaborate to accelerate the adoption of digital payments.” The announcement, which was actually more detailed than most partnership announcements, speaks of putting the two companies “on a new path” for the benefit of consumers and merchants."
  • Peter Thiel-backed banking startup Number26 rebrands as N26 and becomes an official bank - Venture Beat - "Number26, a Peter Thiel-backed mobile banking startup that’s setting out to create the bank account of the future, has finally received its banking license, giving the company full regulatory approval to operate across the European Union under its own steam. The company has also announced that it’s changing its name to N26."
  • Redbox and Coinstar maker Outerwall agrees to $1.6B buyout from private equity firm - Geek Wire - "Outerwall, the Bellevue-based operator of Redbox movie rental kiosks and Coinstar coin counting machines, today announced that it has entered into a deal to be acquired by Apollo Global Management for $52 per share in cash."
  • The Rewards of Tokenization - Aaron McPherson - "You see, there’s much more potential in the humble token than just obscuring account credentials. Tokens are pointers to data, which can be more than a PAN (personal account number). A token can also be a pointer to business logic, which can substitute any combination of funding sources for the original authorization."
  • The Battle Heats Up in Person-to-Person Payments - Wall Street Journal - "J.P. Morgan Chase & Co., Wells Fargo & Co. and other large banks recently unveiled their Venmo counterattack: enhancements to a five-year-old joint venture called clearXchange. The bank-owned payments platform has started offering real-time payments as opposed to transactions that take up to three days to settle."
  • Banks’ Bet on Consumers is Getting Riskier - Wall Street Journal - "The higher reserves in part reflect efforts to expand loan volume. As competition for borrowers intensifies, some lenders also are lowering credit-score requirements and taking on riskier customers. But they also stem from a growing conviction that improvements in credit quality have come to an end."
  • Ethereum Hard Fork Creates Competing Currencies as Support for Ethereum Classic Rises - Coindesk - "In addition to touching on whether a blockchain network can or should be "immutable", or provide an unalterable transaction history, the effort has evoked the passions of the bitcoin community, many of whom see it as either a cautionary tale against implementing a hard fork on its network, or in contrast, as evidence such a technical feat can be achieved with limited ramifications."
  • Credit Unions and Community Banks Both Face "Shrinkage" - Bank Lawyer’s Blog - " According to the NCUA’s statistics at March 31, 2016 the number of federally insured credit unions dropped below 6,000 for the first time in history. This correspondent believes that by 2021 there will be fewer than 600 federally insured credit unions – and they all will be multi-billions in assets because they will have to be large enough to cope with the Dodd-Frank Act’s and the FFIEC’s compliance-driven culture that it is now too-late to stop."
  • Third Sector: Charities and the quiet revolution in digital - fonix - "As the sector begins to get its house in order once again, behind all the media furore a quiet revolution has been taking place, which has recently seen charity donations become the largest market for phone-paid payments."
  • Zara parent to begin in-store mobile payments from September - theindustrylondon - "In both instances, the service will enable online and offline receipts, which will eventually eliminate the need for paper receipts. In addition Inditex says, the new service “aims to significantly simplify the purchase and returns process”. Customers will be able to activate the service directly from the online app, securely adding the payment cards they want to use."

ON THE WIRES

  • Vantiv Launches All-in-One Developer Network for Smarter, Faster and Easier Payments Integration - "Vantiv, Inc. (NYSE: VNTV), a leading provider of payment processing services and related technology solutions for merchants and financial institutions of all sizes, launched Vantiv O.N.E., One Network Experience, today to provide software developers a best-in-class destination for integrating payments into their applications for mobile, in-store and online processing. "
  • Strategic Agreement between Bancolombia and First Data: the Arrival of New Commerce Solutions for Colombian Business Owners - "The companies will focus on building commerce technology solutions for merchants and facilitating access to the banking system, offering advanced technology and secure, efficient transactions. First Data and Bancolombia will bring the latest payments innovations from Europe and the United States to the Colombian market, including best-in-class eCommerce and business management solutions."
  • Societe Generale Acquires a Stake in the Fintech TagPay to Develop Mobile Banking in Africa - "TagPay is a Core Banking System built around the mobile phone, from basic feature phones to smartphones. The TagPay solution has several competitive advantages in terms of speed of deployment as well as a rich catalogue of financial functions and services. It enables banks to reach unbanked populations while capitalizing on the growing digital banking market. The TagPay solution has a unique position in the digital banking market as it is one of the only FinTechs to cater to basic mobile phones, which are still widely used in emerging countries. "

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

UPDATES FROM GLENBROOK

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

July 22, 2016

Headline News from PaymentsNews.com - July 22, 2016

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

ON THE WEB

  • PayPal Strikes Partnership With Visa - Wall Street Journal - "PayPal Holdings Inc. is coming to the checkout line. The online-payments provider has struck a deal with Visa Inc., announced Thursday by the two companies, that will make paying with PayPal an option when people pay in stores with their smartphones."
  • Mastercard Buys Most of Britain’s VocaLink for $920 Million - Bloomberg - "VocaLink primarily processes non-card electronic payments in the U.K., where the company generates more than 90 percent of its revenue. The firm is developing a faster system for the bank-owned automated clearing house payments network in the U.S., a capability that would allow Purchase, New York-based Mastercard to better compete in the growing business-to-business and person-to-person payments markets."
  • Could India Be the First to Get Rid of Cash? - Bloomberg Views - "But there’s good reason to suppose that cashless payments could be adopted much faster in India than elsewhere. It’s the classical example of leap-frogging. India’s many poor people and migrants still struggle to access its chronically inefficient banking system, despite the government's efforts at reform. If presented with an easy and frictionless way of transferring cash, there's no reason to think consumers wouldn't embrace it quickly -- just as most Indians skipped fixed-line telephony to go straight to mobile phones. Smartphone penetration is increasing faster in India than anywhere else in the world."
  • M-commerce: has the mobile web finally won? - Search Engine Watch - "Not only are more smartphone users purchasing with their mobile devices, but more people are choosing to make those purchases via mobile web rather than via mobile apps."

ON THE WIRES

  • Yardi and BluePay Collaborate for Faster, Easier Canadian Rental Payments - "Under the partnership, BluePay will work with Yardi Voyager® and RENTCafé® to process credit card, debit card and PAD payments made by residents of multifamily and condominium units, as well as commercial property tenants. BluePay will process payments and post deposits to property managers’ bank accounts “invisibly,” and landlords will receive the funds within hours."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

UPDATES FROM GLENBROOK

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

July 21, 2016

Headline News from PaymentsNews.com - July 21, 2016

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

ON THE WEB

  • PayPal ticks up 2% on earnings, Visa partnership - Tech Crunch - "The new partnership with Visa, emphasized that they will be collaborating more and will make it easier for customers to move money from their PayPal account to their bank accounts using their Visa debit card. The partnership also means that PayPal digital wallet payments will be accepted at retail locations that facilitate Visa contactless payment transactions. "
  • Wells Fargo officially launches mobile wallet for Android users - Charlotte Business Journal - "The San Francisco-based bank officially launched its mobile wallet for Android users Monday. The wallet is integrated into Wells Fargo’s mobile app on Android phones. Users tap the Wells Fargo Wallet banner in the app, select the card and hold the phone near a merchant’s card reader."
  • PayPal May Unveil Accord With Visa on Data Sharing, Analysts Say - Bloomberg - "PayPal Holdings Inc. and Visa Inc. may unveil an agreement regarding data sharing, security measures and consumer choices on accounts linked to PayPal transactions, analysts said ahead of the companies’ earnings reports."
  • Amazon Tip-Toes Into Banking Business - Wall Street Journal - "Amazon.com Inc. is stepping into the student-loan marketplace. The online retailer has entered into a partnership with San Francisco lender Wells Fargo & Co. in which the bank’s student-lending arm will offer interest-rate discounts to select Amazon shoppers."
  • Ethereum Executes Blockchain Hard Fork to Return DAO Funds - Coindesk - "The much anticipated hard fork of the ethereum blockchain has been implemented, giving those building on the decentralized application network at least the potential for stability after weeks of controversy and sometimes terse disagreements in the wider community."

ON THE WIRES

  • PayPal and Visa Enter Partnership to Extend Consumer Payment Choice - "The partnership puts PayPal and Visa on a new path, with the companies working more collaboratively to accelerate the adoption of safe, reliable and convenient digital payments for consumers and merchants. Further, the arrangement is designed to carry significant benefits for issuing financial institutions, acquirers, and merchants. For issuing institutions, these include a better customer experience, more spending volume on their credit and debit cards, lower operational costs, and improved security. Merchants will also benefit from the improved customer experience, efficiency, and security, which together will help drive increased sales."
  • MasterCard Announces Acquisition of VocaLink - "MasterCard Incorporated (NYSE:MA) today announced that it has entered into a definitive agreement to acquire 92.4 percent of VocaLink Holdings Limited for about £700 million (approximately US$920 million), after adjusting for cash and certain other estimated liabilities. VocaLink’s existing shareholders have the potential for an earn-out of up to an additional £169 million (approximately US$220 million), if performance targets are met. This transaction is subject to regulatory approval and other customary closing conditions."
  • Verifone Launches Curb in Five New U.S. Cities - "Now live in 65 cities, Curb connects to more than 50,000 taxis, and is used by 100,000 professional taxi drivers. Among its many benefits, Curb offers quick and easy ride-hailing from any iOS or Android smartphone, automatic e-payment with digital receipts, and predictable metered fares with no surge pricing."
  • ISACA Challenges Mobile Payment Security Perceptions - "New guide shows mobile security advantages over traditional payment methods"
  • Aquarium Software and WEX Announce New Virtual Payments Agreement for Niche Insurance Payments - "WEX Inc. (NYSE: WEX), a leading provider of corporate payment solutions, today announced a new virtual payments agreement with global insurance technology provider Aquarium Software. Aquarium specializes in developing solutions for niche insurance sectors including pet, travel and gadget. With the agreement in place, WEX is increasing its presence in the insurance payment space in both Europe and the US; this is the first insurance for the company’s European entity."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

UPDATES FROM GLENBROOK

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

July 20, 2016

Headline News from PaymentsNews.com - July 20, 2016

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

ON THE WEB

  • Mizuho to Conduct Blockchain Payments Trial with Ripple - Coindesk - "The trial will find the Japan-based financial services firm and R3 member, along with SBI Holdings, using Ripple's payment solutions to explore how cross-border payments could be conducted between the financial institutions. R3 will act as the consultant on the project."
  • First National Bank jumps into mobile banking with corporate-facing app - Mobile Commerce Daily - "First National Bank of Pennsylvania is optimizing its banking services for mobile with a new application that allows clients to receive push notifications regarding account activity and approve time-sensitive fund transfers for their organizations."
  • UBA and Mastercard Announce Pan African Partnership - Pasyments Afrika - "United Bank Africa (UBA) and Mastercard have announced a partnership which will see UBA act as the issuer for MasterCard in 18 new markets in Africa. The partnership which came into effect in the second quarter of 2016 will see UBA issue Mastercard credit, debit and prepaid cards across these markets."
  • Point-Of-Sale Attacks Still Going Strong But The Reason Isn’t What You Think - Point of Sale News - "The issue arises because most businesses aren’t considering the fact that POS systems are just one link in the chain. They are largely leaving their networks vulnerable because once they hear the word “compliant,” many assume they are also secure. "
  • GSMA unveils solution for online authentication via mobile nos - The Times of India - "Simply put, the solution uses an individual's mobile number for authentication, enabling them to digitally confirm their identity and access mobile and digital services. In effect, Mobile Connect works by employing the users' unique mobile number combined with a unique PIN (for more secure cases), to verify and grant online access."
  • A resolution calling for a pro-bitcoin national policy was just introduced in Congress - Coin Center blog - "It’s important to note that a House Resolution, if passed, only sets forth the sense of the House of Representatives (and not necessarily the Senate) about what kind of policy the federal government should adopt, either through future legislation or through agency rule-making. It’s not binding and it’s not specific, but it is a good way for the House to communicate in what direction it would like to see government policy move."
  • Software flaw puts mobile phones and networks at risk of complete takeover - Ars Technica - "Dan Guido, an expert in cellular phone security and the CEO of a firm called Trail of Bits, agreed that the vulnerability will be hard to exploit. But Moore also described ASN.1 as the "backbone" of today's mobile telephone system. Even in the absence of working code-execution capabilities, attackers could use exploits to trigger denial-of-service outages that could interrupt key parts of a network or knock them out altogether."

ON THE WIRES

  • EMV Migration Forum Changes Name to US Payments Forum, Expands Focus to Additional Emerging Payments Technologies - "To provide expanded support for the payments ecosystem, the EMV Migration Forum today announced that it will change its name to the U.S. Payments Forum. The U.S. Payments Forum will continue to support the chip migration while also broadening its focus to other new and emerging payments technologies in the U.S."
  • UnionPay International Accelerates the Localization of Its Overseas Business--UnionPay cards are gaining popularity among overseas customers - "UnionPay International is accelerating its localization overseas by enlarging card-issuing scale abroad, and by supporting overseas cardholders' card-using in the local market, China and other countries and regions. Latest data show that, by this June, the transaction volume of overseas-issued UnionPay cards has grown by about 40% year-on-year, well above that of domestically-issued UnionPay cards in overseas markets. The transaction volume of overseas-issued UnionPay cards takes up about half of UnionPay's international business."
  • ModusLink Simplifies Subscription and Payment Processing for High-Growth E-Commerce Companies - "The platform-agnostic solution, powered through ModusLink’s enterprise-class Poetic™ software, is the only global full omni-channel offering for creating and managing online subscriptions. It includes functionality such as multiple payment options, financial management and tax services, entitlement management, systems integration, invoicing and fulfillment – all in one, fully-integrated solution."
  • GC Express Customers Get Perks for Paying with Smartphones at the Pump - "GC Express, a gas station in Caro, Michigan, is now offering a free coffee or fountain drink to customers paying with the Team One Credit Union Mobile Banking App on their smartphones for fuel purchases of $10 or more. Consumers can use the mobile app to pay at the pump as a result of GC Express' implementation of the AnyWhereMobile payment service from MShift Inc., which is seamlessly integrated in-store and at the pump with Verifone Commander Site Controller."
  • CardFlight Releases the Latest Trends on EMV Chip Card Usage in the U.S. - "CardFlight, a mobile point of sale (POS) technology provider, released the latest edition of their EMV Migration Tracker with new data and trends covering EMV chip card usage in the U.S. The report shares insights on EMV chip card use among cardholders and merchants in the United States since the October 1, 2015 liability shift."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

UPDATES FROM GLENBROOK

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

July 19, 2016

Headline News from PaymentsNews.com - July 19, 2016

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

ON THE WEB

  • Central Bank Digital Currencies Could Boost GDP, Bank of England Says - Coindesk - "The conclusions were drawn from a working paper published today that examined how a central bank-backed digital currency (referred to as a CBDC in the paper) could yield macroeconomic benefits, while providing banking regulators a clearer picture of the financial system."
  • JPMorgan: Blockchain Tech is an ‘Opportunity’ for Asset Managers - Coindesk - "Revenue opportunities will grow out of the improved data sources, greater liquidity and lower frictional costs fostered by blockchain. Asset managers will be able to serve clients in new ways, for example, with real-time reporting or alternate trading strategies."
  • Mobile money giant M-Pesa is getting its own debit card to compete with banks - Quartz - "Safaricom, parent of the M-Pesa mobile money platform, is eying a piece of the $13.5 billion in annual transactions in Kenya’s payment cards industry with a new debit card. In its pilot stage, the new card, which is largely expected to challenge commercial banks for card commissions, is linked to its Lipa na M-Pesa (pay with M-Pesa) service, which enables traders and individuals to settle bills at different points of sale across the country."
  • The Platformification of Banking - The Financial Brand - "A platform is a plug-and-play business model that allows multiple participants (producers and consumers) to connect to it, interact with each other and create and exchange value."
  • Grab revitalizes mobile ordering for travelers with expansion across 80 airports - Mobile Commerce Daily - "Ecommerce platform Grab has joined forces with travel dining provider HMSHost to enable more airport travelers to order food and beverages via their smartphones from the latter’s restaurants, underscoring mobile’s growing integration within travel hubs."
  • The Experience Matters: 3 Takeaways From Consumer Card Spending - Retail Touch Points - "We show an assortment of categories in the Chart of the Month and observe the following themes: softness in housing-related items; continued shift away from department stores and teen and young adult clothing; strength in sporting goods; and an increase in spending on travel and restaurants," noted Michelle Meyer, a U.S. economist for Bank of America Merrill Lynch Meyer, in a note to clients."
  • Criminals plant banking malware where victims least expect it - Ars Technica - "A criminal gang recently found an effective way to spread malware that drains online bank accounts. According to a blog post published Monday, they bundled the malicious executable inside a file that installed a legitimate administrative tool available for download."
  • What’s Fintech? Nasdaq and KBW Offer an Answer With New Index - Wall Street Journal - "Here is Exhibit A for those who think “fintech” is overhyped and for those who think it is just getting started: A new stock index."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

UPDATES FROM GLENBROOK

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

July 18, 2016

Headline News from PaymentsNews.com - July 18, 2016

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

ON THE WEB

  • Payments on Fire Podcast: Sensibill – Redefining Digital Receipts for FIs - PaymentsViews.com - "This Payments on Fire podcast looks at Sensibill, a digital receipting and data repository service for FIs. Join Glenbrook’s George Peabody and Sensibill’s CEO and co-founder Corey Gross in this discussion of how an FI can help its accountholders turn digital receipts into data far more useful than what’s on a statement or that piece of paper stuffed into a purse or wallet."
  • Paying With Cash Hurts. That’s Also Why It Feels So Good. - New York Times - "When people pay for items using cold, hard cash rather than by card or online, they feel more of a sting and therefore assign more value to the purchase, according to Avni M. Shah, an assistant marketing professor at the University of Toronto Scarborough."
  • Wal-Mart Makes Good on Vow to Ban Visa Cards in Thunder Bay - Bloomberg - "Thunder Bay, a port city of about 120,000 people on the northern shore of Lake Superior, is the latest battleground over credit-card fees for the Bentonville, Arkansas-based retailer. Wal-Mart’s Canadian unit has threatened to expel Visa from all 405 of its stores nationwide unless the network agrees to lower the amount it charges for credit-card transactions."
  • Baidu invests in ZestFinance to develop search-powered credit scoring for China - Tech Crunch - "Baidu has made its second investment in a U.S. fintech company inside a month after it put an undisclosed sum of money into ZestFinance, a big data firm specializing in credit scoring. Baidu, which operates China’s dominant search platform, took part in a $60 million round for payments firm Circle in June."
  • Fast fashion e-commerce is at the cusp of breaking out - Medium - "Online shopping wasn’t as much fun a decade ago because a lot of customer needs that were met in the physical world were not met in the online world. That changed. However, the needs for fast fashion shopping are more nuanced and it is only now that those needs can be met online. "
  • Citi CEO Says He’s Focused on Fixing Costco Credit-Card Woes - Bloomberg - "We experienced extremely high calling volumes in the early implementation of it,” Chief Executive Officer Mike Corbat said in a conference call with analysts Friday after the company reported second-quarter results. “Questions around card activation, questions around statements, questions around where to send payments, and so we’re working through that. We’re gaining on it. We’re very focused on it."

ON THE WIRES

  • Payment Community Engagement in the Development of the EMV Specifications Increases - "EMVCo, the global technical specification body, today reports that participation in its Associates Programme has increased significantly over the past twelve months. Twenty-five new organisations have joined the programme, which enables them to actively participate in discussions to manage and evolve existing and future EMV® Specifications for payment technologies."
  • First Data Expands into Sports and Entertainment Industry with Bypass Collaboration - "First Data (NYSE: FDC), a global leader in commerce enabling technology, and Bypass, an innovator in enterprise point-of-sale systems, are working together to deliver a modern, comprehensive payments solution for sports arenas and concert venues. This unique collaboration blends First Data’s innovative Clover® family of point-of-sale devices and business management tools with Bypass’s revolutionary cloud-based software and back office management tools. "
  • Western Union Announces Enhanced Innovation to Support Global Trade: Technology Creating Borderless Economies for SMEs - "Upon launch, the new fee-free* network payment feature will expand to 51 currencies across 13 countries, with the speed of cross-border payments also increasing to allow transferring funds from buyers to sellers on the WU EDGE platform within minutes. Kerry Agiasotis, President of Western Union Business Solutions, said, “Buying and selling overseas has never been easier, it’s now possible to make an international business payment in minutes.” "
  • Experian publishes five global business trends that will help senior executives protect their growth ambitions against rising fraud threats - "Experian has published its first annual global fraud report covering the convergence of growth strategies and fraud prevention. The report, Global Business Trends: Protecting Growth Ambitions Against Rising Fraud Threats, is designed as a guide for senior executives and fraud prevention professionals, offering new insights on how the alignment of strategies for business growth and fraud prevention can help a business grow revenues while managing risks in an increasingly virtual world."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

UPDATES FROM GLENBROOK

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

July 15, 2016

Headline News from PaymentsNews.com - July 15, 2016

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

ON THE WEB

  • Wallet War: Banks, Stores Slug It Out With Phone-Pay Apps - Wall Street Journal - "Payment choices range from Wells Fargo & Co., which will launch its mobile-payment application nationwide on Monday, to Cheesecake Factory Inc., which lets diners pay with their phone at the table with an app called CakePay. Wal-Mart Stores Inc. in late June expanded the rollout of its new payment mechanism that is contained within its shopping app."
  • You can’t have financial inclusion without digital inclusion - Tech Crunch - "Of the unbanked population, 1,5 billion people are unbanked due to their inability to prove their identity through a valid birth certificate, passport, proof of residence through utility bill or some other means to fulfil traditional KYC-procedures."
  • The privacy of mobile money users is under threat as the Kenyan taxman chases new revenue - Quartz - "The Kenyan taxman is seeking unfettered access to private mobile money transaction records in bid to identify tax cheats who use the platform. Currently only possible through a court order, the Kenya Revenue Authority (KRA)’s sights are set on the multi-billion dollar informal sector, which has traditionally been elusive but uses mobile money to comfortably transact money at every turn. "
  • IBM Moves Blockchain to the Supply Chain Realm - Wall Street Journal - "Startup Everledger, which helps companies track the provenance of diamonds worldwide, is testing IBM Blockchain."
  • Mastercard issues first brand change in 20 years, and Masterpass is now contact-less - Digital Trends - "With its new in-store contact-less solution, Mastercard says people can use Masterpass at more than 5 million merchants in 77 countries that accept contact-less payments, such as BJ’s Wholesale Club. The contact-less feature with Masterpass is first arriving to Android devices in the U.S. towards the end of July."
  • 15 Payment Options Every Small Business Should Consider - Inc. - "Thanks to a the increasing advancements in tech, your global customers have multiple ways to complete transactions with your business. While there are hundreds of options out there, here are 15 recommendations to get you started."
  • BNP's Ex-Blockchain Lead is Now Coding Smart Contracts for Clearinghouses - Coindesk - "Even if centralized clearinghouses are eventually built into or replaced by a blockchain, some services will inherently require the aid of a middleman, according to Collin Platt, the former lead blockchain developer at BNP Paribas who earlier this year launched his own blockchain startup to test this market thesis."
  • European consumers want biometric payments - SecureID News - "New research from Visa shows that 73% of consumers across Europe are interested in using biometric payments – especially when integrated with other security measures. Nearly three-quarters see two-factor authentication, where a biometric is used in conjunction with a payment device, as a secure way to confirm an account holder."
  • PSD2 Irresistible March Toward Global Empowerment - FIS blog - "The flipside of PSD2 is the empowerment of consumers; now consumers own their personal information. Banks are obliged to open up their systems to give PSPs access to account information to facilitate transactions requested by their customers. It is the consumer – not the bank – that controls who can access account information and who can initiate transactions on their behalf."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

COMING UP IN ATLANTA TODAY, FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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!

July 14, 2016

Headline News from PaymentsNews.com - July 14, 2016

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

ON THE WEB

  • You Recognize Mastercard. So Why Is It Changing Its Logo? - Wired - "Change is also constant. Like many 21st-century financial institutions, Mastercard’s business is about more than credit cards. It’s also an online payment platform, a digital wallet, and a technology company. So the branding has to be flexible, too. "
  • Android Pay launches in Australia, but ANZ is the only big four bank signed up - Australian Financial Review - "While the service is expected to have a faster adoption rate than Apple Pay, the lack of any of the other major banks on launch is a surprise, after Westpac had earlier pledged to be coming on board."
  • USAA spotlights in-app voice commands, streamlining mobile deposits - Mobile Commerce Daily - "Financial services brand USAA has rolled out a new feature within its mobile application enabling consumers to leverage voice commands to complete tasks such as depositing a check and transferring funds, a tool that will be beneficial for visually impaired users."
  • PBOC Probes China’s Tencent Over Mobile Payments - Wall Street Journal - "China’s central bank is looking into a complaint against Tencent Holdings Ltd. that alleges the internet giant hasn’t abided by new security regulations required for mobile payments on its messaging platform."
  • Blockchain-based banking backend Vault OS from ex-Googler emerges from stealth mode - TechCrunch - "The bombastic press release announcing the system’s emergence from two years of stealth development makes a lot of promises: the company “has solved the greatest challenge in fintech;” Vault OS is “100% future-proof,” “hugely flexible,” and “fixes broken banking forever.” Whether Vault OS is able to live up to its own hype is a question that will have to wait (legacy banking systems aren’t replaced overnight) — but it’s hard to deny that the problem is real and the solution, or at least what the company reveals of it, is compelling."
  • IBM Unveils New Cloud Blockchain Security Service - Coindesk - "Dubbed the IBM 'secure blockchain cloud environment', the service is actually an integration of IBM’s existing blockchain cloud offering and IBM LinuxONE, a Linux server designed to protect against 'back doors' the company argues could occur in other cloud-based blockchain networks."
  • Verifone Appathon to Debut in Silicon Valley - Verifone Blog - "Verifone will host its inaugural appathon on August 3-4, 2016 at GSVlabs in Redwood City, California, to engage 3rd party developers to build applications on the Verifone Commerce Platform. "
  • UK Startup Bridges Store And Mobile With Real-Time Inventory Data - Retail TouchPoints - "Retailers can set up NearLive to reveal their real-time inventory to shoppers who are conducting ‘near me’ searches on their phones and researching products online. "

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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!

July 13, 2016

Headline News from PaymentsNews.com - July 13, 2016

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

ON THE WEB

  • Square is guilting us into tipping basically everyone - Quartz - "If you’ve paid with your credit or debit card at a food truck or local independent coffee shop in recent years, you’ve probably been confronted by the rounded, white Square terminal—and text asking if you’d like to tip a percentage of your total, perhaps 15%, 20%, or 25%. Moment of truth. “No tip” is an option too, of course."
  • Dutch Central Bank Prepares its Boldest Blockchain Experiment Yet - Coindesk - "If hackers were to go through the trouble of taking down two or three data centers they would take down the financial markets infrastructure. With blockchain, you could distribute the nodes and you might not even know where they are."
  • Best Buy drives 1M store visits with mobile content, local ads - Mobile Commerce Daily - "“It is almost immediate how quickly transitions are happening and how deeply ingrained in consumer minds it is that these devices literally move you from the digital to the physical world. But once in store the behavior doesn’t stop,” said Jonathan Alferness, vice president of Google Shopping & Travel. “We see people continue to use search.”"
  • Blockchain puts a Bitcoin bank in every pocket - GET PUT POST - "Frankly, there are going to be different delivery models for financial services using digital money. We truly believe that being able to be your own bank is the most important value proposition of Bitcoin. We continue to honor that original vision of the protocol and the technology."
  • Killing the password: FIDO says long journey will be worth it - CSO - "The solution to such a porous “security” standard is to get rid of it, according to FIDO. But the Alliance, which describes itself as a “cross-industry consortia,” has to do more than convince experts or even web content providers. It has to convince users – the ones who are familiar and comfortable with passwords and who can display irrational amounts of resistance to change."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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!

July 12, 2016

Headline News from PaymentsNews.com - July 12, 2016

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

ON THE WEB

  • Bank Cyber Attacks Said to Prompt Fed to Prepare New Safeguards - Bloomberg - "U.S. regulators plan to require banks to adopt baseline safeguards to shield themselves from cyberthreats after a series of assaults cost the industry billions of dollars and shook consumer confidence, said people with knowledge of the matter."
  • American Sees $1.55 Billion Boost From Citi, Barclays Card Deals - Bloomberg - "American, the world’s largest airline based on passenger traffic, said it expects the dual arrangement to provide higher growth in credit-card customers than a traditional accord with a single provider. The airline also announced that all new cards tied to its AAdvantage loyalty program will carry the MasterCard brand from now on."
  • LendingClub’s Newest Problem: Its Borrowers - Wall Street Journal - "From loans made in 2013 through the first quarter of 2015, gross charge-offs of LendingClub’s lower-graded loans a year after issuance jumped to 6.31% from 4.58%, an increase of 38% or 1.73 percentage points. "
  • Central Bank Issues New Guidelines to Improve Safety of Online Payments - Caixin Online - "PBOC wants third-party payment services to use at least two methods to verify a person's identity before a transaction and follow a new encryption method to prevent data leaks."
  • EMVCo and the FIDO Alliance Collaborate on Mobile Payment Authentication - FIDO Alliance blog - "A Memorandum of Understanding (MoU) has been signed by the two bodies to guide evaluation and determine how and when payment use cases provided by EMVCo could be incorporated into the FIDO Alliance’s technical standards. Initial activities will explore how FIDO’s authentication protocol can be used to support EMVCo’s cardholder verification technology. "
  • 'Sin' Activities No Longer Drive Bitcoin Economy, Researchers Find - Coindesk - "Our results suggest that some recent concerns regarding the use of bitcoin for illegal transactions at the present time might be overstated, and that whatever such transactions may exist could further diminish as the bitcoin economy continues to mature."
  • MasterCard incentivizes Samsung Pay usage with free concert tickets - Mobile Commerce Daily - "MasterCard highlighted some of the benefits stemming from Samsung Pay usage by rolling out a limited-time promotion this past weekend. The financial marketer sponsored ads on Twitter, Facebook and Instagram to alert consumers of the opportunity to win exclusive concert tickets simply by visiting a designated café and buying a snack with Samsung Pay."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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!

July 11, 2016

Headline News from PaymentsNews.Com - July 11, 2016

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

ON THE WEB

  • Surviving the Emerging Payments Providers - Take on Payments (Atlanta Fed Retail Payments Risk Forum blog) - "Predictions abound that emerging companies will dominate the remittance and person-to-person (P2P) payments space and financial institutions will be relegated to being a bystander. While I am not sold on their eventual dominance, I do think that emerging companies are creating positive changes. "
  • Bitcoin Price Climbs Over 50% in First Half of 2016 - Coindesk - "Bitcoin and ether prices both climbed during the first half of this year, as a number of factors – including rising adoption, yuan devaluation, the 'Brexit' and anticipation surrounding the halving of bitcoin's mining reward – helped the two digital currencies rise in value."
  • Updates to 3D Secure - Braintree blog - "We’ve been working on improvements to our 3D Secure offering and we’re excited to announce the latest updates. 3-Domain Secure (3DS) -- also known as Verified by Visa or MasterCard SecureCode -- is a service offered by card brands which allows cardholders to add a layer of security to e-commerce transactions. "
  • Visa’s Dubai innovation centre to focus on digital payments - Compueter Weekly - "The Dubai facility has been designed to replicate the success of Visa’s flagship One Market innovation centre in San Francisco and the Asia-Pacific innovation centre it opened recently in Singapore."
  • NFC Mobile Payments Increase Tips (And Other Highlights from #PayFasterPortland) - Square blog - "NFC mobile payments are fast—they happen near instantaneously. And as it turns out, they’re also better for tips. Customers who used their NFC device or EMV chip card with Square's contactless and chip reader tipped more than customers who used traditional magstripe cards."
  • Anonymization and the Law - Schneier on Security - "Perfect anonymization of data sets has failed. But the process of protecting data subjects in shared information remains integral to privacy practice and policy. While the deidentification debate has been vigorous and productive, there is no clear direction for policy. "
  • How machine-to-machine technology works for retailers - Mobile Commerce Daily - "Beacons use Bluetooth Low Energy (BLE) technology to create a wireless personal area network for transmitting data over short distances while consuming so little energy that a coin-sized battery could last three years. This technology has the potential to significantly change the way that brands and retailers will connect with consumers."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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!

July 08, 2016

Headline News from PaymentsNews.com - July 8, 2016

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

ON THE WEB

  • In Mobile Payments War, Big Banks Strike Back - Wall Street Journal - "But the banks have a key advantage in this contest, which is that they can afford to undercut rivals on transaction fees. All mobile payment services are basically free to users. But when they are used to buy real goods from merchants, online or in a physical store, the merchants pay a fee."
  • Omni Hotels Warns of Data Breach - Wall Street Journal - "An Omni spokesman couldn’t immediately say how many customers were affected by the breach, which didn’t affect all of the company’s properties. The hackers stole cardholder names, card numbers, expiration dates and security codes, Omni said."
  • Announcing next-gen Proximity Beacons with programmable NFC and improved responsiveness - Estimote blog - "We’ve been hearing a lot of great ideas for projects that require explicit interactions with beacons—confirming payments, collecting loyalty points, clocking-in, etc. The new Proximity Beacon comes with a built-in NFC tag, making these ideas much easier to implement."
  • Mitsubishi UFJ Financial to Invest in Bitcoin Venture Coinbase - Wall Street Journal - "Japan’s biggest lender, Mitsubishi UFJ Financial Group Inc., is stepping into the bitcoin world by investing in Coinbase, a service that allows users to store the virtual currency and make payments with it."
  • UK Government Trials Blockchain Welfare Payments System - Coindesk - "We started a small trial in the north west, designed to see if we can send welfare payments using this technology, and more importantly, to see if people reliant on welfare payments would benefit from this approach."
  • Barclaycard’s newest innovation clasps mobile payments functionality onto wearables - Mobile Commerce Daily - "Barclaycard is introducing bPay Loop, a small case comprising a contactless chip, so that wearable owners can transform their existing watches and fitness bands into vehicles for contactless payments, highlighting a new commerce opportunity."
  • Sberbank to launch its own MVNO - telecompaper - " Sberbank serves 127 million private persons across the country. The launch of the MVNO could help the bank with security issues related to its own services and to SMS-dissemination. "
  • MasterCard and Virtual Card Services Launch vPOS – South Africa’s First Virtual Payment Solution - Payments Afrika - "Small enterprises and mobile businesses can now accept digital card payments in-store, remotely or on-the-go using their connected mobile devices, following the launch of Virtual Card Service’s virtual Point of Sale (vPOS) – South Africa’s first virtual payment solution."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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!

July 07, 2016

Headline News from PaymentsNews.com - July 7, 2016

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

ON THE WEB

  • Payments on Fire podcast: "Machine Learning in Fraud Management" - PaymentsViews.com (George Peabody) - " Join Glenbrook’s George Peabody and Nuno Sebastiao, Chairman and CEO of fraud management firm Feedzai, in this refreshing discussion about the role of machine learning in fraud management, some of its limitations, and how services like these fit into an enterprise’s fraud and risk management operations."
  • Wendys Says About 20% of U.S. Franchise Stores Affected by Cyberattack - Wall Street Journal - "Wendy’s Co. said Thursday roughly a fifth of its franchise-operated stores were affected by cyberattacks that hit the burger chain starting last fall, more than previously disclosed."
  • The Gift (Card) That Keeps On Giving - Retail Touch Points - "One of the major benefits of a reloadable gift or store card is an increase in transaction count, which, over time, can have a large effect on consumers’ buying habits. As opposed to traditional one-time use gift card programs, retailers will start to see the number of transactions increase with reloadable gift or self-use store cards."
  • AmEx Challenges Square, On Deck With Online Loan Marketplace - Bloomberg - "American Express Co. plans to debut an online loan platform for small-business clients this year, targeting territory occupied by startups like Square Inc. and On Deck Capital Inc."
  • How $2 Billion Turned Dreams into Reality - PayPal stories - "Small business owners are the heart and soul of the new global economy. They hire more people. They strengthen our communities. They drive economic development. Yet, often these small businesses have faced significant challenges accessing the capital they need to grow and thrive. Following the 2008 financial crisis, traditional banks severely restricted access to capital, disproportionately affecting fledgling and medium-sized businesses. That’s why we launched PayPal Working Capital..."
  • New Growth Plan for Online Lenders: Layoffs - Wall Street Journal - "LendingClub, Prosper Marketplace, Avant and others cut workforces as they anticipate prolonged period of difficulty"
  • North Carolina Governor Signs Bitcoin Bill Into Law - Coindesk - "Introduced in 2015, the passage of the law represents the fruition of more than a year of engagement between members of the US blockchain and digital currency industry and local regulators. "
  • Ripple Adds Multi-Sign Functionality to its Consensus Ledger Technology - Finovate Blog - "Pointing to the problem of “outdated single signature methods” of legacy payment networks, Ripple has introduced new multi-sign functionality for its Ripple Consensus Ledger."
  • TD Bank introduces Touch ID and more tasks with app redesign - Mobile Commerce Daily - "TD Bank has launched a complete renovation of its mobile application for iOS that brings in Touch ID, more banking capabilities, such as scheduling recurring transfers, and a brand new navigation interface with intuitive power."
  • Threat Alert: Bitcoin Exchanges and Websites Experiencing DDoS Attacks - Radware Blog - "Over the last several months, our ERT Research team has noticed a growing trend of attackers targeting Bitcoin exchanges and websites that deal with Bitcoin directly. These websites are increasingly becoming the target of denial of service campaigns for a number of reasons. "

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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!

July 06, 2016

Headline News from PaymentsNews.com - July 6, 2016

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

ON THE WEB

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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!

July 05, 2016

Headline News from PaymentsNews.com - July 5, 2016

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

ON THE WEB

  • The Blockchain Could Disrupt Everything (VIDEO) - Goldman Sachs blog - "The Blockchain – the technology that underpins Bitcoin transactions – has applications far beyond just digital currency. Jim Schneider, a research analyst in Goldman Sachs Research, explains how the distributed ledger technology works and why it has the potential to disrupt industries from finance to real estate."
  • Danish banking groups readies nationwide mobile-wallet system - Mobile Payments Today - "A consortium of banks in Denmark have selected digital payments company Nets to implement a new NFC-enabled mobile wallet product in the country, according to a press release from Nets. The consortium, which is called the BOKIS partnership, includes 62 banks that form the small to mid-sized banks segment of the Association of Local Banks, Savings Banks and Cooperative Banks in Denmark, together with five Danish regional banks: Jyske Bank, Sydbank, Spar Nord Bank, Arbejdernes Landsbank and Nykredit Bank. "
  • Singaporean Authorities Encourage Citizens to Embrace Mandatory 2FA Security for Online Services - Mobile ID World - "Singaporeans authorities have extended the deadline for citizens to enroll in two-factor authentication for SingPass, the country’s online portal for access to government services."
  • Blockchain Identity Startup Netki Raises $3.5 Million - CoinDesk - "Its first product, the Wallet Name Service, launched in the beginning of 2015 in an attempt to create a cleaner wallet address, and companies that have integrated Netki’s wallet naming service are Purse, BitSo, Bitt and BlockCypher. Its latest product, announced at CoinDesk’s Consensus 2016, is a soon-to-be launched digital identity certificate, which it has compared to an SSL Certificate for the blockchain."
  • Chinese tourists get a taste of home with Alipay in Germany - Mobil Payments Today - "Worldline, a European provider of payment and transactional services, and Alipay, have reached an agreement that will enable Chinese tourists visiting Germany to pay for goods and services using the Alipay mobile app at participating retailers, according to press release from Worldline. "
  • The Democratic Republic of Congo Selects Gemalto Mobile Biometric Enrolment Solution to Support Fair Elections - Payments Afrika - "Gemalto, the world leader in digital security, has won an international tender to supply CENI, the National Independent Electoral Commission of the Democratic Republic of Congo (DRC), with 22,000 mobile biometric voter enrolment kits to support a comprehensive update of the country’s national voter register. "
  • Mobile payment use continues to increase in Canada - Mobile syrup - "According to a study by eMarketer, 33 percent of those surveyed said they planned to make more mobile payments over the coming year, up from 26 percent in a 2016 survey. While a wide variety of payment apps are used by Canadians, PayPal is the most popular, being used by 70 percent of mobile payment users and primarily by men. Coming in a distant second at 42 percent of mobile payment users is the Starbucks’ app, which is used primarily by women. "

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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!

July 01, 2016

Headline News from PaymentsNews.com - July 1, 2016

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

ON THE WEB

  • Brexit Jobs Threat At Credit Card Giant Visa - Sky News - "Hundreds of British-based jobs at the credit card giant Visa could be forced to relocate to the Continent in the wake of last week's EU referendum. Sky News has learnt that an agreement in the recent £17.5bn takeover of Visa's European operations by its American sister company included a stipulation that data from Visa card transactions should not leave Europe."
  • Barclays banks on agile and DevOps to tackle competitive threats in fintech - Computerworld - "Barclays Bank opens up about how increasing competition in the financial services sector has fuelled its 18-month, company-wide campaign to increase its use of agile and DevOps methodologies."
  • SMS Fraud Notification - FIS Blog - "The number of wrongfully rejected payments, or false positives, is growing, in part due to advanced fraud techniques and the increasingly technically advanced fraudsters. Inevitably, unrecognized fraud schemes increase the number of legitimate purchases being flagged as potentially suspect. This results in more transactions being incorrectly blocked at the point of sale (POS)."
  • Ben Milne And Real-Time Payments | Pensive (Podcast) - Medium - "Ben Milne is the founder and CEO of Dwolla, a payments startup building the ideal way to move money, as quickly and safely as possible. Under Ben, the Des Moines-based company has raised over $32 million from investors, like Andreessen Horowitz and Union Square Ventures, and has been recognized by Fast Company as one of the world’s “50 Most Innovative Companies of 2014”"
  • SWIFT and The DAO — A Financial Security Crisis? - Medium - "Cyber-security fears keeping financial bigwigs awake at night, especially after the $81m cyber-heist against SWIFT, proponents of distributed ledger technology (DLT) have touted its potential for near-unbreakable network security. But the draining of $50m from the Ethereum-powered DAO suggests both industries have some way to go."

ON THE WIRES

  • CREALOGIX partners with Entersekt - "Entersekt, a world leader in transaction authentication and app security software, today announced a strategic alliance with CREALOGIX, a provider of leading-edge business applications to the financial industry. As the online and mobile channels continue to claim a greater share of banking and payments in the European market, financial services companies are looking for convenient, safe methods to authenticate transactions. With this partnership, CREALOGIX is able to offer mobile push-based authentication solutions to its customers in order to protect these channels."
  • Kreditech launches Online Point-Of-Sales Financing: Beta Phase Integration with Naspers’ E-Payments Division - "The new integration allows customers to instantly finance their online purchases at charges comparable to local banks. Loan amounts are granted at up to EUR 5,000 and for a duration of up to 36 months. The process is fully paperless and is based on Kreditech’s innovative scoring technology combining it with state of the art KYC. Its user experience and user interface focus on the highest convenience for the customer."
  • Index Secures $19M Series B Funding Led by General Catalyst Partners to Bring the Advantages of Ecommerce In-Store - "Index, a leading retail software company that brings measurement and personalization to the offline world, announced today that it has raised $19 million in Series B funding led by General Catalyst, along with Datalogix founder Rob Gierkink. The new capital will be used to accelerate Index's deployment to grocery, apparel and quick-service retail environments; reach new customers across the U.S.; and grow its engineering, product and business teams."
  • Over 2000 Overseas Educational Institutions Accept UnionPay Cards for Tuition Payment - "On July 1st, UnionPay International announced that now over 2,000 educational institutions overseas accept UnionPay cards for tuition payment, covering well-known schools in popular destinations, including US, Canada, Australia, UK, New Zealand and Singapore. According to public data, the number of Chinese students who study abroad has exceeded 500,000 in 2015, with a year-on-year growth of about 14%. China is now the largest source country of international students for the US, the UK, Canada, and Australia. In this context, UnionPay International keeps improving its payment service for these students."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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 30, 2016

Headline News from PaymentsNews.com - June 30, 2016

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

ON THE WEB

ON THE WIRES

  • Retailers Applaud Circuit Court Decision Rejecting Visa/MasterCard Settlement - "RILA enthusiastically welcomes the circuit court's decision to throw out this harmful settlement," said Deborah White, executive vice president and general counsel. "Quite simply, the settlement orchestrated by the card networks and banks would have undermined merchants' legal rights forever and would have allowed Visa and MasterCard to impose higher and higher swipe fees with impunity. Today's decision is a victory for all merchants and consumers."
  • IBM and Crédit Mutuel Arkéa Pioneer the Use of Blockchain to Manage Customer Identity and Improve Customer Satisfaction - "Blockchain is a transformative agent in our operational application, as proven by this project -- the first of its kind in France. This pilot offers a complete view of customers' documents across our distributed network," said Frédéric Laurent, COO Innovation & Operations, Crédit Mutuel Arkéa. "The project helped us to understand and master blockchain for other client uses. Now, we are ready to incorporate this technology in our ecosystem."
  • Number of debit cards reaches 100 million for first time - Richard Koch, Head of Policy at The UK Cards Association, said: “Since they were first launched in the UK in June 1987, debit cards have become a prime feature in the nation’s wallets. Now, almost 30 years later, more than half of all retail sales in the UK are made using a debit card. More recently, it has been the growth of contactless, as well as the increasing use of debit cards for online shopping, that has been driving the changes.”
  • Danish local and regional banks launch a mobile wallet powered by Nets - "We are excited to be the first in Denmark to announce our plans to deliver bank-issued mobile wallets from our members, providing a mobile payment solution that delivers real payment convenience to our customers. End users will be able to pay just by 'tapping' their phone at the contactless point-of-sale," comments Søren Nicolaisen, Managing Director, Danish Regional Bankers Association.
  • J.P. Morgan Announces In-Residence Program for Fintech Startups - “In-Residence presents a unique opportunity for talented, ambitious startups to be truly supported by J.P. Morgan’s global resources,” said Sanoke Viswanathan, Chief Administrative Officer of J.P. Morgan’s Corporate & Investment Bank. “By giving them unparalleled access to J.P. Morgan’s people and network, we hope to enhance their ability to create technology-led solutions that can be put into practical use for our industry.”
  • MGT Announces Initial Phase of Multi PetaHash Bitcoin and Blockchain Project - "The current pricing environment of bitcoin and other digital assets coupled with the release of new 16 nanometer ASIC chips provides a significant opportunity to generate excellent profit margins. "

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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 29, 2016

Headline News from PaymentsNews.com - June 29, 2016

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

ON THE WEB

ON THE WIRES

  • MasterCard to Simplify E-Commerce for Microsoft Dynamics Customers around the Globe - “Businesses need to be able to sell to their customers wherever they are without headache or hassle,” says Deborah Barta, Simplify Commerce global lead, MasterCard. “We want to make life easier for businesses as they grow, and we look forward to working with Microsoft to bring safe, simple and secure electronic payments to more businesses around the world.”
  • First Data and Silicon Valley Bank Expand Strategic Partnership - “With the power of First Data’s technology combined with our broad relationships across the innovation ecosystem, we help increase our clients’ probability of success while making payment issuance and acceptance easier and more effective,” said Eduardo Vergara, Head of Payment Services, Silicon Valley Bank. “Technology companies tend to expand into many markets earlier than companies in other industries, and require services that can scale easily and globally. Together with First Data, we are able to deliver payment solutions that will truly help our clients grow.”
  • Synchrony Financial Invests in flexReceipts, Inc. - Neeraj Mehta, Executive Vice President, Business Strategy and Development, at Synchrony Financial said: “We are pleased to be a strategic investor in flexReceipts. Synchrony and flexReceipts share a common principle of helping retailers enhance customer loyalty and deliver a frictionless digital customer experience. flexReceipts uses cutting-edge technology in a way that is aligned with our vision for retail innovation..."
  • Consumers Now Can View Credit Card Data alongside Checking and Savings from Their Online and Mobile Banking Solutions - "Digital Insight and PSCU’s platforms integrate APIs, which allow credit card account and transaction data to flow seamlessly between the two platforms in real time. Digital Insight uses PSCU's Data eXchange middleware for real-time integration. Over 120 PSCU Owner credit unions have leveraged Data eXchange’s open architecture to provide the functionality and the enhanced service experience that members are demanding."
  • Definitive Internet of Things and NFC White Paper Published by NFC Forum - "The NFC Forum announced today the publication of a definitive white paper focused on the Internet of Things (IoT) and Near Field Communication (NFC) in the smart home. Titled ″Simplifying IoT: Connecting, Commissioning, and Controlling with Near Field Communication – NFC Makes the Smart Home a Reality,″ the white paper outlines the future of IoT devices in the smart home and how NFC will help developers and manufacturers bring the benefits of IoT to where we live, work, and play. It is available for download at no charge."
  • One in Three American Households Are Stuck in a Relationship with a Financial Services Provider They Don’t Trust - “The fact that so many consumers are working with a financial services institution they don’t trust has significant financial implications,” said Jeremy Bowler, senior vice president of Financial Services at Market Strategies. “It creates greater opportunity for disruptive change, and with financial technology solutions rapidly emerging, this is a pool of consumers who are ripe for the picking.”

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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 28, 2016

Headline News from PaymentsNews.com - June 28, 2016

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

ON THE WEB

  • Supreme Court to Hear Case on ATM Fees - Wall St. Journal - "The Supreme Court on Tuesday agreed to consider an appeal by Visa Inc., MasterCard Inc. and several leading banks that are challenging lawsuits alleging they conspired to set anticompetitive ATM fees."
  • Here’s How Citigroup Is Embracing the ‘Fintech’ Revolution - Fortune - "The mega-bank needs to counter a new wave of financial technology startups."
  • OpenTable rolls out in-app virtual tab, eliminating on-the-spot mobile payments Mobile Commerce Daily - “With Tab, paying for a meal is easier than ever – you no longer have to touch your wallet or your phone,” said Tomer Molovinsky, product marketing, payments and marketplace innovation at OpenTable.
  • Online shopping forces shift in inventory strategies - Wall St. Journal - "Online shopping “has forced the industry to rethink not only the math and science behind the inventory pool, but also the strategy,” said Scott Fenwick, a senior director at Manhattan Associates Inc., which makes supply-chain software."
  • LendingClub to Cut 12% of Workforce as Loan Volumes Fall - Wall St. Journal - "LendingClub Corp. said Tuesday that it would eliminate about 12% of its workforce, as loan volumes has plummeted in the second quarter following the troubled fintech company’s disclosure that it had made improper loans in order to boost its numbers."
  • Singapore first in Asia to get Android Pay - Channel NewsAsia - "At launch, Android Pay will work with MasterCard and Visa cards from DBS Bank, OCBC Bank, POSB, Standard Chartered Bank and UOB, and there is no limit as to how many cards can be added by the consumer, Google said."
  • Brexit Jobs Threat At Credit Card Giant Visa - Sky News - "No decisions about relocating jobs has been taken and is unlikely to be until the detail of Britain's future trading arrangements with the EU are close to being finalised."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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 27, 2016

Headline News from PaymentsNews.com - June 27, 2016

Headline News is brought to you by RS Software. To learn more about why RS Software is the choice for leading payments companies around the world, click here!

ON THE WEB

ON THE WIRES

  • MasterCard Commits to the Inclusion of 40 Million Micro and Small Merchants - “Real financial inclusion happens when people can use their new financial accounts to do what many of us take for granted,” said Ajay Banga, president and CEO of MasterCard. “Helping micro and small merchants connect to electronic payments will accelerate adoption and usage of new financial tools for the unbanked and will have a true impact on people’s daily lives.”
  • Wells Fargo to Offer Real-Time P2P Payments to 17 Million Mobile Customers - "Beginning August 1, Wells Fargo’s service will allow its customers to send funds in real-time at no cost to any customer of a bank that participates in the real-time service, which operates on Early Warning’s clearXchange™ network. Wells Fargo customers can already receive real-time payments at no cost from customers at any bank participating in the network."
  • New FIDO Certified Bluetooth Solution for Secure Mobile Internet Usage - " Infineon Technologies AG today announced the first FIDO-certified Bluetooth low energy (BLE) reference design for wireless authentication tokens. By using such a token in addition to their password, consumers can conveniently and securely authenticate their online activities on mobile devices."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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 24, 2016

Headline News from PaymentsNews.com - June 24, 2016

Headline News is brought to you by RS Software. To learn more about why RS Software is the choice for leading payments companies around the world, click here!

ON THE WEB

  • Brexit: Possible Impacts on UK Consumer Payments - PSE Consulting - "Following Britain’s momentous decision to leave the European Union our thoughts must inevitably turn to the potential impact on UK consumer payments. In this blog we provide some early thoughts on how the UK market may be affected, beginning with recent European regulation which will have to be untangled."
  • Costco’s Transition to Visa Cards Riddled With Problems - New York Times - "A transition that executives promised would be seamless has turned into a customer service fiasco."
  • The DAO Shows Blockchain Can't Code Away Social Problems - CoinDesk - "Everyone loved The DAO. They couldn’t say enough about how it was going to change the future for the better. And now, after the code-based crowdfunding platform was exploited with a perpetrator taking 3.6 million ether (valued at $60m at the time), The DAO has become the red-headed stepchild of the cryptocurrency community."
  • Bank Regulators Aim at Online Small Business Lending - Wall St. Journal - "Leading marketplace lenders originated about $1.9 billion in small-business loans last year..."
  • 31 Chinese Firms Form Financial Blockchain Consortium - CoinDesk - "Chinese financial services firm Ping An Bank and a subsidiary of QQ instant message app maker Tencent are among more than 30 technology and financial firms in China that have formed a new consortium dedicated to blockchain tech."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

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 23, 2016

Headline News from PaymentsNews.com - June 23, 2016

Headline News is brought to you by RS Software. To learn more about why RS Software is the choice for leading payments companies around the world, click here!

ON THE WEB

  • RBI publishes “Payment and Settlement Systems in India: Vision-2018” - Reserve Bank of India - "The Reserve Bank of India has today placed on its website the “Payment and Settlement Systems in India: Vision-2018”. The Vision-2018 aims at building best of class payment and settlement systems for a ‘less-cash’ India. The broad contours of Vision-2018 revolve around 5 Cs – coverage, convenience, confidence, convergence and cost. To achieve these, Vision-2018 will focus on four strategic initiatives such as responsive regulation, robust infrastructure, effective supervision and customer centricity."
  • a16z Podcast: Fintech Revolution or Evolution? - A16Z - "The problem, observes Warzel — who is joined by a16z Partners Alex Rampell and Angela Strange in this episode of the a16z Podcast on all things fintech, payments, wallets, and more — is that the customers/consumers aren’t at the center of any of this."
  • Circle takes $60M to grow its social payments biz globally, as it steps into China - TechCrunch - "The round is led by existing investor and Beijing based VC IDG Capital Partners, along with Breyer Capital, General Catalyst Partners and what it dubs “a powerful syndicate of major strategic partners” in China, including Baidu, CICC Alpha, China Everbright, Wanxiang and CreditEase."
  • MasterCard plans to invest $800 m in India over the next 4 years - Hindu Business Line - "These investments will flow into processing, mobile technology and solutions and data analytics, said Porush Singh, Country Head for MasterCard in India."
  • Colu Raises $9.6 Million to Promote Blockchain-Based Local Currencies - CoinDesk - "The Series A round, backed by Aleph, Spark Capital, Digital Currency Group and former Thomson Reuters CEO Tom Glocer, follows a $2.5m seed round in early 2015..."
  • Toyota Financial Services Joins R3 Consortium - "Toyota Financial Services, the financial services subsidiary of the Toyota Motor Corporation, has joined banking consortium R3CEV, making it the first organization affiliated with a major automaker to take part in the cross-industry effort."
  • Number of EMV Chip Payment Cards in Global Circulation Increases to 4.8 Billion" - EMVco - "Global technical body EMVCo today reports sustained growth in the worldwide adoption of EMV chip technology. Official figures of aggregated data show that by the end of 2015, the number of EMV payment cards in global circulation increased, year on year, by 1.4 billion to 4.8 billion."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

UPDATES FROM GLENBROOK

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

June 22, 2016

Headline News from PaymentsNews.com - June 22, 2016

Headline News is brought to you by RS Software. To learn more about why RS Software is the choice for leading payments companies around the world, click here!

ON THE WEB

  • Goodbye, Password. Banks Opt to Scan Fingers and Faces Instead. - New York Times - "Some of the nation’s largest banks, acknowledging that traditional passwords are either too cumbersome or no longer secure, are increasingly using fingerprints, facial scans and other types of biometrics to safeguard accounts."
  • Hyperledger Project Adds 7 New Members - Hyperledger - "Hyperledger Project, a collaborative cross-industry effort created to advance blockchain technology, announced today that seven new members have joined to help create an open standard for distributed ledgers for a new generation of transactional applications."
  • Coinbase adds support for PayPal and Credit Cards - Coinbase Blog - "To start, we’re offering PayPal cash-out for US users only. In the future, we hope to add support for other countries, and to support buys through PayPal as well."
  • The Failure of Coin - Medium (Ben Einstein) - "When it comes to hardware startups, there are two types risk that are manageable on their own, but when combined often spell failure: technical risk and product risk."
  • India: Visa issues more than a million contactless cards - Economic Times - ""Contactless is the future of payments in India. Since its launch, Visa payWave has gained strong momentum and wide merchant acceptance."
  • Samsung Takes a Different Approach to Mobile Payments - Fortune - "“We’re a hardware company, and at the end of the day I think what we’re trying to do is get people who hold (one of) our phones and use it…to just love it more,” Elle Kim, global vice president of Samsung Pay, told Reuters in Sydney."
  • Microsoft brings mobile payments to that Windows 10 Mobile user - Inquirer - "Oddly, the service is available only on Windows 10 handsets in the US where contactless payments are not yet widely accepted, as opposed to in the UK where most retailers support the NFC-based service. "
  • Android Pay Prepares to Show a Map of Nearby Locations that Accept Payments - XDA Developers - "...Google has left some hints within the APK file of the latest update that point towards a new feature that will use your current location and pull up a map activity to show you nearby stores that accept Android Pay."
  • National Bank of Kazakhstan to Announce a List of Blockchain Projects Soon - NewsBTC - "It has been speculated that the Kazakhstan’s national bank might want to utilize the blockchain technology to improve inter-transactions between its branches, a project that sounds similar to the famous R3 global banking consortium. Another possible use case revolves around the use of distributed ledger technology for the implementation and tracking of Anti-Money Laundering (AML) and Know Your Customers (KYC) regulations among the banks."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

UPDATES FROM GLENBROOK

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

June 21, 2016

Headline News from PaymentsNews.com - June 21, 2016

Headline News is brought to you by RS Software. To learn more about why RS Software is the choice for leading payments companies around the world, click here!

ON THE WEB

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

COMING UP IN ATLANTA ON FRIDAY, JULY 15

TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.

UPDATES FROM GLENBROOK

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

June 20, 2016

Headline News from PaymentsNews.com - June 20, 2016

Headline News is brought to you by RS Software. To learn more about why RS Software is the choice for leading payments companies around the world, click here!

ON THE WEB

ON THE WIRES

  • New Costco Anywhere Visa Card by Citi Offers Cash Back Rewards on Every Purchase - “We have a strong relationship with our members and it’s important that we’re rewarding their loyalty to us,” said Craig Jelinek, CEO and President, Costco. “Our new co-brand credit card agreement with Citi on the Visa network enables us to offer significant value and benefits for our members across 494 locations in the U.S. and Puerto Rico.”
  • That familiar ring? It’s your mobile phone, not your wedding band - "“We saw consumers really step up their use of digital banking tools – especially mobile apps – in the last year,” said Donna Vieira, Chief Marketing Officer of Consumer Banking at Chase. “We continue to enhance our digital banking services to let customers bank how, when and where they want.”"
  • Elavon Supports Payments Innovation with Apple Pay Expansion in Canada - "Elavon is among the first payment processing companies to offer Apple Pay to Canadian businesses, and provides support for in-person payments, as well as in-app purchases for Interac®, Visa®, MasterCard® and American Express®."
  • Dragonfly Fintech Selected to Implement Payment Solution - "It is about transforming the money remittance space and repositioning the service as a platform business allowing near frictionless participation," said Lon Wong, CEO, Dragonfly Fintech.
  • Blockchain Technology: Disruptive Forces in Financial Services, According to IDC - James Wester, research director at IDC Financial Insights and author of the report, said, "Blockchain has emerged during a time of incredible change in the payment space. Even though banks and technology vendors are grappling with many issues right now, they should pay particular attention to blockchain. It represents a complete shift in the way electronic transactions have been handled for decades, and participants in the market should begin thinking about how they will adapt to it."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

UPDATES FROM GLENBROOK

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

June 17, 2016

Headline News from PaymentsNews.com - June 17, 2016

Headline News is brought to you by RS Software. To learn more about why RS Software is the choice for leading payments companies around the world, click here!

ON THE WEB

ON THE WIRES

  • Wells Fargo Payment Manager® Helps Businesses Digitize Payments"Payment Manager B2P, which is expected to roll out in early 2017, enables businesses to pay any consumer who has a U.S. bank account without collecting or storing sensitive bank account information. The service only requires the customers’ email address or mobile phone number and any accompanying remittance details to conduct a transaction."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

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

UPDATES FROM GLENBROOK

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