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January 15, 2015

Headline News from PaymentsNews.com - January 15, 2015

On the Web:

On the Wires:

Glenbrook's 2015 Payments Education Schedule Now Available!

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!

January 14, 2015

Headline News from PaymentsNews.com - January 14, 2015

On the Web:

  • Coming Soon!

On the Wires:

  • Fiserv Puts Control in the Hands of Cardholders With Mobile Card Management Application - "CardValet from Fiserv is a turnkey mobile application that can be downloaded from the Apple App Store or Google Play Store. Using CardValet, cardholders can turn their card off when their card is not in use, establish spending limits to allow transactions up to a certain dollar value and decline transactions when amounts exceed predefined thresholds. In addition, transactions can be monitored or controlled for specific merchant categories, such as travel, restaurants, or entertainment, and can be denied or reported for specific types of merchants."
  • ShopKeep Pocket Mobile App Launches with Powerful, Real-Time Reporting Features - "ShopKeep Pocket is a best-in-class mobile reporting application that enables merchants to quickly access their business data in real-time, wherever they are. The new app will work in tandem with ShopKeep Register, the company’s point of sale application, and offers users the ability to monitor business operations via their mobile devices, permitting increased connectivity and productivity on-the-go."
  • Western Union to Launch Direct to Bank from US to Mexico - "An agreement recently signed between Western Union and UniTeller, will allow Western Union customers in the US to send cash directly into qualifying bank accounts – totaling more than 60 million individual bank accounts1. The UniTeller network currently covers top banks in Mexico."
  • MasterCard and Masabi Set Commuters Free From Cash - "By combining MasterCard’s payment technology with Masabi’s JustRide mobile ticketing platform consumers will experience a faster and more convenient way to get around a city’s transit system."
  • New Bill.com Payments for NetSuite Achieves ‘Built for NetSuite’ Verification - "The Bill.com Payments for NetSuite SuiteApp is an integrated, full-service payments services solution available for NetSuite users. The new SuiteApp allows users to pay bills anytime, anywhere by clicking one button within NetSuite."
  • T-Mobile Gives Mobile Money Customers an Extra $20 on Their Tax Refund - "T-Mobile CEO John Legere today announced via Twitter that T-Mobile customers with Mobile Money who set up and receive a direct deposit of their tax refund onto their registered T-Mobile Visa® Prepaid Card will get a $20 credit."

Glenbrook's 2015 Payments Education Schedule Now Available!

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!

January 13, 2015

Headline News from PaymentsNews.com - January 13, 2015

On the Web:

  • Toward Better Privacy, Data Breach Laws - Krebs on Security - "President Obama on Monday outlined a proposal that would require companies to inform their customers of a data breach within 30 days of discovering their information has been hacked. But depending on what is put in and left out of any implementing legislation, the effort could well lead to more voluminous but less useful disclosure."
  • Stanford to host White House Summit on Cybersecurity and Consumer Protection - Stanford News - "The White House announced Tuesday that it will host a Summit on Cybersecurity and Consumer Protection at Stanford on Feb. 13, convening major stakeholders to help shape public and private sector efforts to protect consumers and companies from growing network threats."

On the Wires:

  • Gujarat State Government and MasterCard sign Memorandum of Understanding to Accelerate Electronic Payments - “This MOU represents a joint effort to drive innovation and development of electronic payments in Gujarat, in line with the State Government’s goal to make Gujarat the first digital payments state in India. MasterCard will leverage its global expertise to deliver new innovations and the right payment systems, and we are looking forward to seeing fruitful results from this collaboration,” said Ari Sarker, Division President, South Asia & Country Corporate Officer, India at MasterCard.
  • First Data and UL Collaborate to Simplify EMV™ Adoption for Retailers - “Coupled with a multi-layered security program that includes tokens and encryption, EMV adoption will greatly reduce the threat of fraudulent payments at the point of sale, but the implementation can be complex and burdensome. We believe this collaboration with UL will help to simplify the process a merchant must complete to certify compliance with EMV standards.”
  • Elavon Joins Verizon Partner Program - “This powerful combination makes the era of Big Data accessible and relevant for small businesses,” said Elavon’s President of North America Guy Harris. “By building in robust customer loyalty and security features more commonly found in high-end POS options, this user-friendly solution enables SMBs to serve their customers better while providing business insights to help them compete more effectively.”
  • Intuit Launches QuickBooks Online Self-Employed to Serve Freelancers, Independent Contractors - “As the on-demand economy continues to expand, there will be unprecedented income opportunities for freelancers. But this work comes with a host of new challenges: co-mingled and confusing business expenses, quarterly and year-end tax headaches, and a general lack of visibility into their ‘real income’,” said Alex Chriss, vice president and general manager of Self-Employed Solutions at Intuit.
  • TSYS Releases Insights on Payment Preferences of Business Travelers and Travel Administrators - “One surprising finding is that despite high satisfaction with corporate travel card programs among both business travelers and travel administrators, personal card usage among business travelers remains high,” said author Christina Hall, senior product development manager, TSYS Commercial Services. “Additionally, the technologies that business travelers use in their personal banking and credit card relationships greatly influence expectations for their corporate credit cards.”
  • Fitch: AmEx, Discover Can Manage EU Card Interchange Fee Caps - "Fitch believes increased regulation could have some unintended consequences. For example, card members could face higher fees and/or reduced benefits as banks re-assess these programs and seek to maintain appropriate profitability targets. Fitch believes these could potentially take the form of annual membership fees, account maintenance or other fees and/or more limited rewards."

Glenbrook's 2015 Payments Education Schedule Now Available!

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!

January 12, 2015

Headline News from PaymentsNews.com - January 12, 2015

On the Web:

  • MasterCard Reaches Deal with Russia - Wall St. Journal - "MasterCard and Russia’s national payment system agreed on Dec. 30 to gradually move the processing of the U.S. company’s transactions within Russia under the roof of its Russian counterpart, the central bank said."
  • Alibaba Pays to Play in India - Wall St. Journal - "The Indian company’s prize asset is Paytm, a mobile-payments platform, which also runs an online marketplace in India that matches merchants to shoppers, similar to Alibaba’s business model in China."
  • Level Money has joined Capital One - Level Money Blog - "Much younger and nimbler than any other top bank, Capital One is a founder-led company on a mission to transform the way banking is done. Taking a technology-based, consumer-centric focus to banking is core to what Capital One does, and on that team we found a deep passion for solving old problems in a new way."
  • PayPal Credit Expansion Now Lets Merchants Set Terms, Including Option For Interest-Free Payments - TechCrunch - "PayPal Credit is expanding its support for monthly payments with an option for retailers that allows them to decide on the number of months and interest rates that work best for their customers."
  • Why Tort Liability Won’t Produce Good Cybersecurity - Steptoe Cyberblog (Stewart Baker) - "In the end I doubt that liabilities to issuing banks will drive much cybersecurity either, not because the claims are low — they’re more likely to be in the $50 per card range — but because establishing liability will not be all that easy and because things like tokenization will likely prove much cheaper than improving security.)"
  • SWIFT appoints new Chief Technology and Chief Operations Officers - SWIFT - "SWIFT announces the appointment of Craig Young as Chief Technology Officer and Marcel Bronmans as Chief Operations Officer. Both Young and Bronmans will sit on SWIFT's Executive Committee and report directly to CEO Gottfried Leibbrandt."

On the Wires:

  • Heartland First to Offer Comprehensive Merchant Breach Warranty - "Heartland’s breach warranty is offered at no charge to its Heartland Secure™ merchants in the first year and can be extended for $8.33 per month per card-entry device. To be covered under the warranty, a merchant must have a Heartland Secure-certified device and process payments through Heartland on that device."
  • Verifone Offers Merchants a Single mPOS Payment Terminal to Support All Major Smart Device Options - “The prospect of having to purchase new mPOS devices for sales associates when smartphones and tablets are upgraded has been a major inhibitor to mPOS investment among retailers,” said Mark Shockley, senior vice president of Mobile Solutions for Verifone. “Verifone’s single, modular solution will offer the ultimate in mPOS flexibility, allowing it to persist across changes in devices, even if somebody wants to make a complete switch from one OS to another.”
  • Vantiv Certifies Verifone’s Secure Commerce Architecture - “Vantiv’s certification of SCA from Verifone combined with Point-to-Point Encryption ensures many more merchants can significantly reduce their exposure to large scale payment data breaches, and further reduce the complexity associated with EMV certification,” said Rob McMillon, vice president of Product Security for Verifone.
  • Bank of America Launches National Advertising Campaign for Preferred Rewards - “When we spoke to our clients to find out what they valued most from a rewards program, they clearly said they seek everyday rewards and benefits that they would actually use,” said David Dintenfass, Global Wealth and Investment Management and Consumer Marketing executive at Bank of America.
  • NCR Unveils a New ‘Grab and Go’ Self-Checkout Solution - "Whether in the supermarket or at a convenience, department, specialty or DIY retailer, there is a large amount of checkout traffic that can be handled with this card-only, small footprint solution,” says Dusty Lutz, general manager self-checkout solutions at NCR Retail. “This technology is ideally designed for ‘grab-and-go’ convenience for driving more revenue and convenience during peak shopping hours.”
  • FreedomPay Announces PCI-Validated Point-to-Point Encryption And EMV Support Through Newly Enhanced Microsoft Azure - “The FreedomPay Commerce Platform on Azure offers customers security, scalability and access to real-time data,” said Christopher Kronenthal, Chief Technology Officer at FreedomPay. “Microsoft has enabled FreedomPay to deploy one of the industry’s most comprehensive payment security standards and transactional data services to merchants embracing a real-time retail ecosystem.”
  • BMO Launches iPad App with Integrated Access to Banking and Self-Directed Investing - "With one streamlined login, customers can easily manage their personal banking and self-directed investing with the added benefit of a personal financial management tool," said Cesar Rainusso, Vice-President, Digital Channels, BMO Financial Group.

Glenbrook's 2015 Payments Education Schedule Now Available!

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!

January 09, 2015

Headline News from PaymentsNews.com - January 9, 2015

On the Web:

On the Wires:

  • Commerce Bank Introduces toggle®: A New Feature that Gives Credit Card Customers More Control & Flexibility - “Customers today are looking for flexibility and simplicity when managing their finances, and toggle gives them new financial tools to do that,” said Chad Doza, Senior Vice President of Consumer Credit Card at Commerce. “With a traditional credit card, the customer waits until the end of the month to decide if they want to pay their bill in full or carry a balance. toggle lets the customer make that decision before the statement reflects the new charges. toggle offers customers the ability to manage all of their purchases, that are typically distributed across multiple credit and debit cards, using only their Commerce Bank credit card."
  • Consumer Education: the Next Frontier in Mobile Payment; Closing the Gaps in Understanding How Mobile Pay Works is Key - “This is a classic case of new technologies needing to reach critical mass before consumers come on board,” said Joe Mach, senior vice president and general manager of vertical solutions at Verifone. “Today, in 2015, the pieces are fitting into place – what’s essential now is for the industries driving the mobile payment revolution, from finance to retail to systems providers, to educate consumers on mobile payment’s benefits and easy use.”

Glenbrook's 2015 Payments Education Schedule Now Available!

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!

January 08, 2015

Headline News from PaymentsNews.com - January 8, 2015

Glenbrook's 2015 Payments Education Schedule Now Available!

On the Web:

On the Wires:

  • EMVCo to Manage Next Generation of 3D-Secure Specification - "The enhanced specification will support additional data available during the transaction that will enable more intelligent risk-based decisioning. It will also offer a more seamless consumer experience and reduces reliance on the cardholder to authenticate themselves via a password prompt, better integrating with a merchant’s offering and brand. The specification will also be enriched to support non-payment user identification and verification, as well as country-specific and regulatory requirements regarding cardholder authentication in the card-not-present environment."
  • China Jo-Jo Drugstores Signed Strategic Service Agreement with Alipay to Provide Online Payment Service to its Customers - Mr. Lei Liu, Chairman and CEO of China Jo-Jo, stated, "Our cooperation with Alipay gives us a great opportunity to get access to Alipay's 300 million registered users who, like most Chinese consumers, are seeking more convenient pharmacy shopping experiences. In addition to maintaining our traditional customer base, we hope to attract more young, affluent, and tech-savvy consumers by answering to their needs for pharmaceutical and healthcare products."
  • Shift4 Delivers EMV Functionality Layered with Tokenization and Encryption to Prevent Breaches - Shift4 CEO Dave Oder said, "It is vital for merchants to adopt real card data security measures in addition to the highly publicized stopgap that is EMV. Security Beyond Compliance® is our mantra, and that's exactly what Shift4 delivers to our customers."
  • Fujitsu to Exhibit Integrated Retail Currency Handling and PalmSecure Biometric Solutions at the National Retail Federation Annual Event in New York - “With the increasing number of physical and cyber-attacks as well as the exposure of cash to external theft and internal shrinkage, we believe the concepts demonstrated in our booth will resonate with most retailers,” says Randy Fox, vice president, currency handling and identity product solutions, Fujitsu Frontech North America Inc. “The unique application of biometrics as a method for positive logical and physical access control will be more commonplace at POS and in back-office cash handling locations.”

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!

January 07, 2015

Headline News from PaymentsNews.com - January 7, 2015

Glenbrook's 2015 Payments Education Schedule Now Available!

On the Web:

  • U.S. Consumers' Holdings and Use of $100 Bills - Federal Reserve Bank of Boston - "Conventional wisdom asserts that $100 bills are often associated with crime and foreign cash holdings, leading some commentators to call for their elimination; in light of this proposal, it is useful to examine the legal, domestic use of cash. This report uses new data from the 2012 Diary of Consumer Payment Choice (DCPC) to evaluate consumer use of $100 bills as a means of payment."
  • Block Chain 2.0: The Renaissance of Money - Wired - "So for the uninitiated who have not yet grasped what Bitcoin and other cryptocurrencies are, you ought to catch up. This is not something that should be ignored and there is a vast array of resources that explain the concept."
  • ICICI Bank launches contactless debit & credit cards - Economic Times - "The bank has introduced these two cards in Mumbai, Hyderabad and Gurgaon to begin with and it has installed over 1,200 PoS machines capable of accepting contactless payments in these cities."

On the Wires:

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!

January 06, 2015

Headline News from PaymentsNews.com - January 6, 2015

On the Web:

On the Wires:

  • LoopPay" Expands OEM Partnerships at CES 2015 - "The two new OEM partners announced at CES include XPAL Power (subsidiary of TennRich International - who manufactures products for companies like Mophie and Belkin), and Trident Case®, a leading ruggedized phone case manufacturer, with many other partners in the pipeline. LoopPay is also working with chipmakers to embed LoopPay’s technology and security into silicon, making it easier for future OEM partners to incorporate LoopPay into their devices."
  • Green Dot Promotes Chief Technology Officer Kuan Archer to Chief Operating Officer - "In his role as COO, Kuan will continue to lead all of product development and Information Technology and will assume oversight of vendor management and procurement, business continuity, human resources, supply chain and retail execution. He will report directly to Chairman and Chief Executive Officer, Steve Streit."
  • Bluefin Payment Systems Introduces PCI-Validated Point-to-Point Encryption (P2PE) Solution for Mobile Payments“In this age of cyber-attacks and security breaches, a secure mobile payment solution is absolutely mandatory. Protecting cardholder data, guarding against fraud and, concurrently, reducing merchant and issuer liability requires a multi-faceted approach to securing card information and customer data,” said Ruston Miles, Chief Innovation Officer, Bluefin Payment Systems.

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!

January 05, 2015

Headline News from PaymentsNews.com - January 5, 2015

Dennis Moser - In Memoriam

  • Last week, on New Year's Day 2015, we lost our long-time friend and Glenbrook colleague Dennis Moser. Our tributes to Dennis are included here - if you knew and worked with Dennis, we'd welcome you adding your own memories of him.

On the Web:

  • Why New Credit Cards May Fall Short on Fraud Control - Wall St. Journal - "Big U.S. banks are steering clear of an advanced security measure used in credit cards around the world, opting for a system that is more convenient for shoppers but may leave them vulnerable to fraud."
  • Wire-Transfer Provider Xoom Hit by $31 Million International Fraud Scam - Digital Transactions - "Online wire-transfer provider Xoom Inc. reported Monday that it will take a $30.8 million one-time charge as a result of a scam in which the same amount of its cash was transferred abroad."
  • Tencent ushers China into the Internet banking era with the launch of WeBank - PandoDaily - "Tencent, maker of the hugely popular WeChat mobile chat application (as well as QQ instant messenger, Weibo microblogging platform, Dididache Taxi service, and PaiPai ecommerce platform) is the largest shareholder in the similarly named WeBank, with a 30 percent stake."
  • Making Change: Mobile Pay in Africa - Wall St. Journal - "Across Kenya, mobile money is breathing life into micro business. Companies whose business models are based on mobile payments have shown how targeting some of the world’s poorest customers can not only pay but also be a promising way to grow."
  • A Day with Apple Pay - New York Times - "Over all, though, my day of shopping showed that retailers and their cashiers have room for improvement when it comes to accepting and understanding mobile payments."
  • Intel unveils app that opens sites with user's face - USA Today - "Our goal is the elimination of passwords altogether," says Mark Hocking, a vice president with Intel Security.
  • No credit - Dr. Drang's Blog - "Tomorrow, I’ll start using my fifth credit card in the past 12 months. ... I’m not the only one who’s fed up with continually changing the credit card number on file with the companies I do business with."

On the Wires:

  • Progreso Financiero Soon to be Known as Oportun - "For over 8 years, our approach to lending has spearheaded the field of responsible, affordable and sustainable finance for the underserved. As we continue our mission, we want a name that builds on our customers’ perception of our company and what we do for them, and we wanted the name to be short and memorable. Oportun is based on the word Oportunidad, the Spanish word for Opportunity,” said Raul Vazquez, CEO of Progreso Financiero.

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!

December 23, 2014

Headline News from PaymentsNews.com - December 23, 2014

Holiday Break!

  • It's that time of year again - when we'll be coasting with family and friends and not tending the news wires here at PaymentsNews.com. Hope you have a wonderful holiday season with yours - and we'll see you back here all fresh and ready to go in the New Year!

On the Web:

On the Wires:

  • Unified Patents Establishes a Defensive Patent Zone for Electronic Payments - “Deterring frivolous patent threats while maintaining a healthy patent system is foundational to what Unified provides its members,” said Kevin Jakel, CEO and Founder of Unified Patents. “Now banks, credit card companies, financial institutions and technology providers that participate in the payments system have someone in their corner to deter future NPE activity."
  • Metrics Global, Inc. Enables Apple Pay for Merchants - Wendy M. Yurgo, President and CEO of Metrics Global, says, “Our goal is to provide our merchants with a suite of best-in-class options that enable them to attract, retain and grow their customers. When we can partner with our merchants to help them grow their business while providing them with superior customer service and competitive rates, then we secure our client base as well.”

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!

December 22, 2014

Headline News from PaymentsNews.com - December 22, 2014

On the Web:

On the Wires:

  • MasterCard Launches Global Hackathon Series with $100,000 Grand Prize - “We encourage developers from around the world to participate in our Masters of Code competition and use the power of MasterCard through our APIs to create the next generation of commerce applications globally,” said Mario Shiliashki, Senior Vice President of Open APIs, MasterCard. “MasterCard is the world’s most advanced payments network, and the MasterCard Developer Zone is the bridge to it for developers. We are opening up our technology to the world for a simple reason – to enable any developer to utilize our products and platforms to build the next big thing.”
  • Staples Provides Update on Data Security Incident - "Overall, the company believes that approximately 1.16 million payment cards may have been affected."
  • CashStar and PayPal Partner to Expand Digital Gift Card Delivery - “We’re excited to work closely with PayPal and our top retailer and restaurant client brands on this solution,” said Ben Kaplan, CashStar president and CEO. “As digital, mobile and social innovations continue to change the way consumers shop, digital gift cards thrive because of their ability to move seamlessly across channels."
  • Moneris and Syrasoft Introduce Enhanced Integrated Payment Solutions for Self-Storage Software - "This partnership integrates Moneris’ secure, dependable payment processing platform with two of Syrasoft’s software modules: Syrasoft Automatic Credit Card add-on and Syrasoft Internet Manager (SIM) Online Payments add-on. Syrasoft customers who select Moneris as their payment processer will experience seamless credit and debit card processing that enhances Syrasoft’s credit card and payments add-ons."
  • Fidelity® Customers Have Earned More Than $845 Million Using Fidelity Rewards Credit Cards - "According to a new survey from Fidelity, more than half (55 percent) of credit cardholders own a rewards credit card, with cash back rewards the most popular choice, held by nearly two-out-of-three rewards card holders (63 percent); 47 percent own credit cards offering points toward merchandise, followed by airline miles (39 percent) and gas, dining or other forms of rewards (39 percent)."

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!

December 19, 2014

Headline News from PaymentsNews.com - December 19, 2014

On the Web:

  • Securing the Future of Payments: A Special Report from the Payments Security Task Force - Visa/MasterCard - "This week in the U.S., the Payments Security Task Force introduced a white paper that looks at three of the most significant technologies – chip, tokenization and encryption – developed to protect card information and make it useless if stolen." Download White Paper Here
  • Starbucks To Square: It's Over - ReadWrite - "Starbucks is not adopting Square Order in our stores," says Maggie Jantzen, a spokesperson for Starbucks. "We opted to build our own mobile ordering solution, leveraging our own mobile app and world-class loyalty program."
  • New York Regulator Outlines Changes to Bitcoin Rules - New York Times - "Although far from sweeping, the revised rules will address or eliminate many of the aspects that opponents had criticized for being vague or strict, including the types of companies that would be subject to the rules, Mr. Lawsky said in keynote remarks at the Bipartisan Policy Center in Washington."
  • Mobile NFC payments to exceed $130B by 2020: report - Mobile Commerce Daily - “The launch of Apple Pay will focus the minds of operators and competitors like Google Wallet, who have NFC-based payment offerings for longer, but have not really communicated or marketed it well to their customers.”
  • Mobile’s Rise Poses a Riddle for Banks - Wall St. Journal - "This year, for the first time, U.S. customers interacted with their banks more through mobile devices than any other means, according to a new study by consultancy Bain & Co. Mobile interactions are now 35% of the total, more than any other type, including traditional online channels, automated-teller machines and branch visits, the report showed."
  • Open APIs Hold the Key to the Future of Banking - Programmable Web - "One of the pillars of BBVA’s digital strategy is identifying and mobilizing “innovation stakeholders” from both within and outside BBVA. Through an open innovation framework, BBVA is building an open ecosystem that includes entrepreneurs, developers, students, customers and employees collaborating to create new value for both the community and BBVA in the new digital paradigm."
  • RBC first bank in North America with Host Card Emulation - "We are committed to providing our clients with the most innovative, convenient and secure solutions to pay how they want, when they want - HCE is a critical step," said Linda Mantia , Executive Vice-President of Digital, Payments and Cards, RBC. "HCE makes RBC Secure Cloud mobile payments even easier to use."
  • German researchers discover a flaw that could let anyone listen to your cell calls - Washington Post - "Experts say it’s increasingly clear that SS7, first designed in the 1980s, is riddled with serious vulnerabilities that undermine the privacy of the world’s billions of cellular customers."
  • Clustering bitcoin accounts using heuristics - O'Reilly Radar - “It turns out in reality, though, the way most users and services are using bitcoin, was really not following any of the guidelines that you would need to follow in order to achieve this notion of pseudo-anonymity. So, basically, what we were able to do is develop certain heuristics for clustering together different public keys, or different pseudonyms."

On the Wires:

  • Huntington Bank to Offer Apple Pay to Customers - “We are delighted to soon offer our customers the option of Apple Pay,” said Mark Sheehan, executive vice president and payments and channels director at Huntington. “Apple Pay is another in a series of initiatives Huntington has undertaken to make banking easier, along with rolling out mobile deposit and Quick Balance, which allows customers to use their phones or tablets to find their balances fast. Huntington is excited about what the future holds and looks forward to bringing this technology to our customers.”
  • The European Union Helps Consumers by Capping Swipe Fees While the U.S. Lags - "The 28 countries of the European Union agreed with a committee of the EU’s Parliament to cap the fees merchants pay banks every time a customer swipes a card at 0.2 percent on debit cards and at 0.3 percent on credit cards. Countries can also set a five-cent cap on debit transactions. The agreement also makes the card business more transparent, so that consumers can see how much swipe fees raise prices where they shop."
  • Mozido Acquires Majority Ownership in Mobile Commerce Company CorFire - “CorFire is a strong global mobile commerce player. By adding its strength in NFC-enabled mobile wallets to Mozido’s extensive mobile financial services and retail marketing capabilities, we can now give merchants around the world access to a powerful mobile ecosystem that adds monetization features to mobile programs,” said Michael Liberty, founder and Chairman of Global Strategic Initiatives at Mozido.

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!

December 18, 2014

Headline News from PaymentsNews.com - December 18, 2014

On the Web:

  • Square Is Resurrecting Wallet, Its Pay-By-Name Mobile App, And Giving It Away - ReadWrite - "Square is "retiring" Wallet but its putting its key feature—the ability to pay in stores by saying your name, without taking out a wallet or even your phone—inside Square Order."
  • Silicon Valley Bank -- At The Core Of A Tech Network - Forbes - “We are doing something very, very different. We help them build a sound, scalable operating infrastructure that they would go to an investor and say they have worked with Silicon Valley Bank and the bank has looked over its fraud and compliance.”
  • Amazon Confirms Rollout of One-Hour Delivery Service - Wall St. Journal - "The service, first reported by The Wall Street Journal, is available in parts of New York, though Amazon said it would expand to other cities next year. Amazon will charge $7.99 for delivery within an hour, though two-hour delivery is free..."
  • Billing and Payments — a potted history - FastMail Blog - "As a credit card merchant, an important thing is the chargeback rate — that is, the percentage of your payments that the cardholders dispute with their bank. If this rate gets too high, then the payment gateways deem you to be risky, and they will charge much higher fees, or cancel your account completely."
  • Complex Solutions to a Simple Problem - Krebs on Security - "The main reason so many of these newfangled technologies are even being proposed is that the United States lags 20 years behind Europe and the rest of the world in adopting chip/smartcard technology in credit and debit cards."
  • Lawsky Outlines Revisions to New York's BitLicense in DC Speech - CoinDesk - "Ben Lawsky announced the latest revisions to the draft BitLicense today in Washington, DC, announcing a host of changes in response to reactions from its public comment period."
  • Payments startup Tipalti moves HQ to Palo Alto from Southern California - San Francisco Business Times - Tipalti also hired Rob Israch as chief marketing officer as the company "prepares for significant revenue growth."

On the Wires:

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!

December 17, 2014

Headline News from PaymentsNews.com - December 17, 2014

On the Web:

On the Wires:

  • ChowNow Becomes The First Online Ordering Platform To Integrate Apple Pay - "The addition of Apple Pay benefits both restaurants and their customers. Rather than manually inputting their credit card number and billing address, customers with an iPhone 6, iPhone 6 Plus, or the forthcoming Apple Watch, can complete their order simply by using their fingerprint. As a result of the added convenience and security, restaurants should see increased order volumes, and hence a more profitable to-go business."
  • ID Insight Debuts Next-Generation Address Verification - "Safe2Ship processes addresses to ensure each is a valid and legitimate delivery point, verifies the customer’s identifying information using ID Insight’s consolidated databases of billions of records, and identifies and appends the best address if the customer does not reside at the address provided."
  • A New Way to Pay with Commerce Bank Credit and Debit Cards Using Apple Pay - “Apple Pay is a significant step forward in mobile payments and we are happy to be able to offer this feature to our customers,” said Carl Bradbury, Commerce Bank director of consumer card products. “With Apple Pay, our customers will now have the option to make purchases both securely and conveniently in stores and within apps with the latest iPhones and iPads.”
  • Mint Streamlines Bill-Paying With New Mint Bills - “Mint has historically served as a rear-view mirror for personal finances, providing consumers a look back at their money,” said Barry Saik, senior vice president and general manager of Intuit’s Consumer Ecosystem Group. “Today, we’re taking a more forward-looking approach, helping people to anticipate and accomplish must-do financial tasks, such as paying bills, so they can feel confident and in control of their money.”
  • Global Payments and Bank of the Philippine Islands Form Strategic Joint Venture - "We are delighted to enter into this partnership with BPI in the Philippines, one of our fastest growing markets," said Jeff Sloan, Chief Executive Officer of Global Payments. "This joint venture highlights our strategy to drive accelerating growth by expanding direct distribution in Asia. It will also allow us to add significant merchants to our existing business in the Philippines, further leverage our technological strengths and provide superior product and service offerings to BPI customers in a highly attractive market," Sloan continued.

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!

December 16, 2014

Headline News from PaymentsNews.com - December 16, 2014

On the Web:

  • Banks: Park-n-Fly Online Card Breach - Krebs on Security - "...Park-n-Fly said it recently engaged multiple outside security firms to investigate breach claims made by financial institutions, but so far has been unable to find a breach of its systems."
  • Mobile rewards gain stature as currency for airlines - Mobile Commerce Daily - “Last month, we began offering our MileagePlus X mobile app to a test group of members, enabling them to use their mobile devices to earn miles when making purchases at certain stores.”
  • Dozens More Companies Sign Up for Apple Pay - New York Times - "On Tuesday, Apple announced that in recent weeks the company had signed up dozens more banks, retail stores and start-ups to adopt Apple Pay..."
  • Samsung in Talks to Launch Apple Pay Competitor - Re/code.net - "It is not yet clear if Samsung has reached a deal with the startup, Burlington, Massachusetts-based LoopPay. One source said the deal could still fall apart. A prototype of the payments system working on a Samsung phone has been created, the other source said."
  • Australian Regulator: Bitcoin is Not a Financial Product - CoinDesk - "Digital currencies are not a financial product and operators do not need licenses to trade or hold them, the Australian Securities and Investments Commission (ASIC) has said."

On the Wires:

  • Adyen Raises $250 Million in Funding to Accelerate Growth of Its Global Payments Platform - “Adyen is at the forefront of a rapidly globalizing payments market with tremendous growth potential,” said Jonathan Korngold, managing director and global head of General Atlantic’s Financial Services Sector. He continued, “In addition to exponential growth in e-commerce, we are also seeing a rise in consumer demand for integrated experiences across in-store and online shopping. Considering the inherent opportunities in both of these trends, we believe that Adyen is well-positioned to extend its position as the leading global payments solution in the years to come.”
  • First Data and Verifone Partner to Combat Consumer Payment Data Theft - "While EMV acceptance in the marketplace will strengthen data protection, it creates a burden on merchants and those that serve them,” said Guy Chiarello, president of First Data. “This partnership with Verifone furthers our objective of working with the leading payment technology providers to benefit merchants and their customers.”
  • EMV Chip Technology Is the Future of U.S. Payments: Get the Facts in New EMV Migration Forum Infographic - "The Forum developed this resource to be a high-level, easy-to-read visual guide to the must-know facts about chip technology and the U.S. migration. We think this will be a particularly useful aid for payment stakeholders in building their own educational materials on chip payments."
  • ShopKeep Apple Pay & Chip Card Reader Available Now - "ShopKeep’s new reader offers independent business owners the latest in payment technology and additional security features for each credit card transaction. The device, powered by Ingenico Mobile Solutions, the leading mobile commerce platform provider, connects to the ShopKeep register app via Bluetooth. It retails for $249, and for a limited time, new customers will receive a free reader upon signing up for a ShopKeep account."
  • NCR Silver POS Integrates with LevelUp to Provide Merchants with New Payment Option - "NCR Silver merchants can activate the LevelUp application as a payment option in their POS system. Once activated, customers pay by scanning unique QR codes generated by the LevelUp app during checkout."
  • Time Inc. Partners with Coinbase to Become the First Major Magazine Publisher to Accept Bitcoin Payments - "Time Inc. joins a growing list of businesses, such as Overstock.com, Google and Expedia, partnering with Coinbase to integrate bitcoin into their customer payment options."
  • Elavon and Union Bank Extend Alliance Relationship - “Merchant Services is an important offering that helps our customers grow their businesses,” said Brian Milton, managing director of Retail Home Equity, Credit Card and Merchant Services for Union Bank. “By combining our banking expertise with Elavon's premier payment-processing network, our customers have a one-stop solution for all of their banking and payment-processing needs.”
  • Apple's® iBeacon™ Technology Made Simple for Retailers, App Developers and Consumers with New BeaconStream End-to-End Solution - "By offering intelligent software and better beacons, we've made it easy for every part of the ecosystem to generate and experience the magical moments that iBeacon technology delivers," said Venkat Nallapati, CEO, BeaconStream. "Our breakthrough solution removes the complexity of implementing real-world interactions with consumers and offers superior features to enhance and track return-on-investment."

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!

December 15, 2014

Headline News from PaymentsNews.com - December 15, 2014

On the Web:

  • Google Shopping to Counter Amazon - Wall St. Journal - "Google has approached retailers about creating a “buy” button for its online shopping site that would be similar to Amazon’s popular “one-click ordering” feature, according to people familiar with the discussions."
  • Small Bank in Kansas Is a Financial Testing Ground - New York Times - "The creation of the new bank, and the maintenance of the old one, are the work of a couple who were born in India and ended up in Kansas after living in Silicon Valley and passing through jobs at Google and Lehman Brothers."
  • Why Silicon Valley thinks we hate our wallets - SFGate.com - “In that sense, there’s a little bit of a don’t fix what ain’t broke approach that I would argue for,” said Levchin. “Innovating around the user interface of payments is a little gratuitous.”
  • PayPal expands lending programme to merchants - FT - "Paypal’s merchant lending programme launched last September and has since made more than 35,000 loans at a maximum of $60,000."
  • Square Competitor ShopKeep Giving Away Free Equipment to Accept Apple Pay - Re/code.net - "The free giveaway underscores the fierce competition among young companies such as ShopKeep, Square and Poynt, as well as bigger players like First Data, to get small businesses to ditch their clunky point-of-sale equipment for newer, modernized checkout software and hardware."
  • Perseverance Pays Off: The Lending Club Story - Jeff Crowe - Norwest Venture Partners - "The Lending Club story is a testament to the importance of keeping one’s cool during periods of high stress and not giving up on a great idea."

On the Wires:

  • Stockpile Partners with Yodlee to Offer “Invest Your Change” and “Gift Cards of Stock” for Easy and Affordable Investing - “Our offerings give banks a whole new way to engage with their customers and build a deeper relationship,” said Avi Lele, CEO of Stockpile. “When I was a kid, people gave savings bonds or stock certificates as gifts for graduation, birthdays and weddings, but these days, banks miss out on gift giving and investment. We’re removing the obstacles associated with investing, and making it fun, easy, and affordable for everyone.”
  • American Express Serve® Announces Research Pilot to Encourage Consumer Saving - “Rarely do researchers have the opportunity to test their theories in real world environments, using actual financial products, and directly with their target customers,” said Neal Sample, President, Enterprise Growth, American Express. “We see tremendous potential in enabling researchers to use our Serve software platform to improve the lives of the financially underserved. This is why we established our Financial Innovation Lab, and it’s why we are pleased to be working on this research pilot.”
  • Fiserv Research Reveals Rapid Growth of Mobile Bill Payments, Multiple Billing and Payment Choices Key to Customer Satisfaction - “Mobile bill pay is becoming a go-to-channel alongside traditional bill payment methods, creating a ripe opportunity for billers to rethink and expand their multichannel strategies to help stimulate customer satisfaction,” said Eric Leiserson, senior research analyst, Biller Solutions, Fiserv. “Billers that cast a wider billing and payment net with offerings that meet the diverse needs of their customers extend their reach and build stronger, more loyal relationships with customers across channels.”
  • Fraud-proof Credit Cards Possible with Quantum Physics - "This innovative security measure, known as Quantum-Secure Authentication, can confirm the identity of any person or object, including debit and credit cards, even if essential information (like the complete structure of the card) has been stolen. It uses the unique quantum properties of light to create a secure question-and-answer (Q&A) exchange that cannot be “spoofed” or copied."

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!

December 12, 2014

Headline News from PaymentsNews.com - December 12, 2014

On the Web:

On the Wires:

  • FirstBank Adds Person-to-Person Payment System to Its Powerful Mobile Banking App - "With this addition, FirstBank becomes the most recent bank to offer P2P payments through the clearXchange network, providing customers with an easy way to send and receive money via their mobile devices. FirstBank is the fourth member of the clearXchange network and will be going live today. It is the first regional bank in the nation to go live with the service."

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!

December 11, 2014

Headline News from PaymentsNews.com - December 11, 2014

On the Web:

On the Wires:

  • American Express Creates New Technology Hub in Silicon Valley - “Technology innovation is driving the company’s ongoing digital transformation, and our team in Silicon Valley is focusing on core capabilities that we expect to be key to our ability to continue to innovate and move our business forward,” said Marc Gordon, Executive Vice President and Chief Information Officer. “By developing infrastructure and frameworks to be used broadly across the organization, the team in Palo Alto will play a crucial role in our global business growth and future success.”
  • American Express and Delta Extend Partnership - “We’re very pleased to extend our strategic partnership with Delta in a way that will deliver compelling value to our mutual customers and help to ensure that Card Members get more with Membership,” said Josh Silverman, President of Consumer Products & Services at American Express.
  • Bill.com Unveils New Solution to Accelerate Digitization of Payments for SMBs - “Our customers have told us they need a simple and secure solution for those times when they need to pay their vendors quickly,” said René Lacerte, CEO of Bill.com. “Fast Pay was developed in response to those unplanned or emergency situations. Now, SMBs in particular can rely on a seamless digital solution without the hassle of going to the bank to send wire transfers or scheduling pickups by FedEx or UPS.”
  • Blackbaud Welcomes Pete Kight to Board of Directors - "After founding CheckFree in 1981, Mr. Kight served as chief executive officer until its merger with Fiserv, Inc. in 2007. Under his leadership, CheckFree greatly expanded beyond its original core online bill payments business. At the time of its merger with Fiserv, CheckFree’s annual revenue exceeded $1 billion."

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!

December 10, 2014

Headline News from PaymentsNews.com - December 10, 2014

On the Web:

  • EBay Mulls Thousands of Job Cuts Next Year - Wall St. Journal - "The cuts are expected to primarily affect workers in eBay’s core marketplace division, these people said."
  • Chick-Fil-A ramps up mcommerce with mobile payments, ordering - Mobile Commerce Daily - “We think customers will like it because they no longer need to dig through their purse or wallet for cash or a credit card to pay for their meal,” said Michael Lage, manager, customer relationship strategies at Chick-fil-A, College Park, Ga.
  • Fed Sets Tough New Capital Rule for Big Banks - Wall St. Journal - "The proposal, which will be phased in starting in 2016 and take full effect in 2019, is aimed squarely at pushing big banks to shrink, an outcome regulators were explicit in saying they hope to encourage to reduce the likelihood a firm’s failure could require bailouts or damage the broader economy."
  • Amex Veteran Launches White-Label Bitcoin Debit Card Platform - CoinDesk - "Founded in February, Blade Financial is pitching its service to digital currency companies that want to offer debit card services to customers but lack the resources or capabilities to actually launch a product."

On the Wires:

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!

December 09, 2014

Headline News from PaymentsNews.com - December 9, 2014

On the Web:

On the Wires:

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!

December 08, 2014

Headline News from PaymentsNews.com - December 8, 2014

On the Web:

  • Regulation, the Blockchain and Programmable Money - PaymentsViews.com (George Peabody) - "Programmability of asset transfers has enormous potential to save money and simplify public and private transactions. A hallmark of any regulation should be its ability to accommodate that kind of innovation."
  • Stripe is the breakthrough startup of 2014 - Mashable - "Stripe is a key reason that some of these on-demand startups have been able to get off the ground so quickly — and Stripe has prospered in return. Tens of thousands of businesses now use the Stripe API for payments."
  • Toward a Breach Canary for Data Brokers - Krebs on Security - "Despite their apparent role in facilitating (albeit unknowingly) these ID theft services, to my knowledge the data brokers involved have never been held publicly accountable in any court of law or by Congress."
  • EMVCo Launches ‘A Guide to EMV Chip Technology v2.0’ - EMVco - "First published in 2011, the guide has been updated to reflect EMVCo’s new branding and imagery, detail the evolution of the technical body and communicate the latest transaction figures, first published in November 2014. The document also provides insight into the latest EMV Chip Specifications and introduces EMVCo’s Next Generation activity."
  • Investment in European Payment Firms Hits Record Levels - Wall St. Journal - "Nascent payments and transaction processing companies in Europe raised $417.9 million through 26 deals in the nine months to September, more than seven times what was raised during the same period last year, according to figures from data provider Dow Jones VentureSource."
  • Banks Urge Clients to Take Cash Elsewhere - Wall St. Journal - "J.P. Morgan told some clients of its commercial bank recently that it would begin charging monthly fees on deposit accounts from which clients can withdraw money at any time."
  • Apple Pay will be the mobile wallet of choice and here's why - Financial Services Club Blog (Chris Skinner) - "In other words, Apple Pay could be the Uber for mobile payments."
  • Why Apple Pay will win (Part 2) - Financial Services Club Blog (Chris Skinner) - "The Apple Pay wallet system, with its own bank partner (if it needs one) and now you don’t need a card registered or anything. You don’t need PayPal or Visa or MasterCard. You just need Apple. Just a thought."
  • Wish List: Apple Pay your friends - SixColors (Dan Moren) - "In theory, Apple could even offer the ability to send funds to people via the Internet. Apple Pay already works for some online transactions, and once again Square Cash has proved that you can transfer funds online without too much hassle."
  • Starbucks brews iBeacon strategy to support premium coffee play - Mobile Commerce Daily - "Starbucks said it would bring out iBeacon technology in the coming year to allow customers at its premium-coffee Roastery and Tasting Rooms to access information about freshly brewed coffee via smartphones."
  • Alibaba’s Alipay Now Sees Over Half Of Its Transactions In China From Mobile Devices - TechCrunch - "The company‘s latest report found that 54 percent of the number of transactions on its PayPal-like service during the first ten months of 2014 were from mobile devices."
  • How the Rising Dollar Could Trigger the Next Global Financial Crisis - Wall St. Journal - "When the emerging-market currency is strong and the dollar is weak, that manufacturer’s balance sheet looks sturdier–and the local bank sees that and lends more readily. Thus a weak dollar can lead to a global credit boom."

On the Wires:

  • Dynamics Inc. Raises $70 Million in Series C Funding - "New investors MasterCard and CIBC were joined by existing backers Bain Capital Ventures and Adams Capital Management."
  • MasterCard and Dynamics Inc. Partner to Drive Innovation within Interactive Payment Card Market - “At MasterCard, we are focused on driving innovation across the entire payments industry, and continue to invest in the technologies, solutions and companies that will help our customers and partners expand their business and serve their cardholders in new ways,” said Carlos Menendez, Group Executive, Global Credit and Debit Products at MasterCard. “In working with Dynamics, we have secured a partner with deep technology capabilities and market-leading manufacturing capabilities to help drive innovation in the interactive payment card market while moving in lockstep with MasterCard’s mobile and digital enablement strategy.”
  • Speed for all – Faster Payments publishes vision for a New Access Model - "More challenger banks and other non-traditional players could benefit from direct access to Faster Payments, the UK’s immediate internet, mobile and phone banking payment service, through proposals for a New Access Model published today, (Monday 8 December)."
  • SWIFT enters into real-time retail domestic payments - "On 2nd December, Australia's New Payments Platform (NPP) Steering Committee announced it has selected SWIFT to provide the infrastructure for its New Payments Platform (NPP) project, a new Australian fast payments infrastructure."
  • BitPay Integrates With DriveWealth to Bring Bitcoin to Investors Worldwide - “Providing users with the added security of bitcoin as a payment method makes the whole process easier, and gives users peace of mind,” says Tony Gallippi, Co-Founder and Executive Chairman of BitPay. “With Bitcoin, users will no longer have to wait days or weeks for an account to be funded because this integration will make their deposit process seamless.”
  • Fiserv Names Marc West Division President, Digital Channels - "Before joining Fiserv in 2013, West was the president and CEO at Mamasource, an e-commerce platform focused on moms, where he focused on business growth and strategic partnerships. He has also served as managing director of e-Business at Barclays Global Investors, and has held senior leadership positions at H&R Block and Electronic Arts."

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!

December 05, 2014

Headline News from PaymentsNews.com - December 5, 2014

On the Web:

  • Bebe Stores Confirms Credit Card Breach - Krebs on Security - "On Thursday, KrebsOnSecurity reported that several banks had complained about a pattern of fraudulent charges on customer credit cards that all had one thing in common: They’d all been used at bebe locations across the country."

On the Wires:

  • bebe stores, inc. Identifies and Stops Payment Card Security Incident - "Based on its investigation to date, the Company believes the attack was focused on and limited to data from payment cards swiped in its U.S., Puerto Rico and U.S. Virgin Islands stores during a short window between November 8, 2014 and November 26, 2014."
  • SpyderLynk Wins Citi® Mobile Challenge 2014 for Its SnapTag® Mobile Wallet for Small Business - "SpyderLynk’s entry “CitiWallet for Small Business” delivers an easy-to-adopt payment solution for small businesses using SnapPay, which allows consumers to simply scan a SnapTag, enter the amount to pay the merchant and hit go. It’s that simple."
  • Virgin Money agrees strategic partnership with Monitise - Jayne-Anne Gadhia, Chief Executive Officer of Virgin Money, said: “We are excited to be extending our quest for smarter, brighter and better banking solutions with a partner that shares our ambition to bring unique, intuitive and valuable service features to our customers. Mobile is an important banking channel that will help us maintain our growth momentum, and our partnership with Monitise and its network of partners will support us as we grow.”
  • EFTA Announces Addition of EyeLock as New Board Member - “We are pleased to bring EyeLock onto the EFTA Board. EyeLock’s understanding of payments authentication technology will bring a new perspective to Board discussions around one of the most important issues facing the payments industry today,” said Kurt Helwig, president and CEO of EFTA.

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!

December 04, 2014

Headline News from PaymentsNews.com - December 4, 2014

Last Call:

  • The last Glenbrook Payments Boot Camp of 2014 is being held next week, December 9 and 10, in Palo Alto, California. Our Payments Boot Camp provides a comprehensive introduction to the payments systems in the U.S., an overview of global payments, and lots of insights into what's happening in emerging payments. Join Carol Coye Benson and me for this final session of the year! - register here!

On the Web:

On the Wires:

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!

December 03, 2014

Headline News from PaymentsNews.com - December 3, 2014

Last Call:

  • The last Glenbrook Payments Boot Camp of 2014 is being held next week, December 9 and 10, in Palo Alto, California. Our Payments Boot Camp provides a comprehensive introduction to the payments systems in the U.S., an overview of global payments, and lots of insights into what's happening in emerging payments. Join Carol Coye Benson and me for this final session of the year! - register here!

On the Web:

  • Sweden’s Klarna to Invest $100 Million in U.S. Launch - Wall St. Journal - "Unlike other tech startups, which tend to prefer working out of Silicon Valley or New York, the Swedish company has decided to set up shop in Columbus, Ohio."
  • Mobile Wallets: A Smart Way to Pay? - Kiplinger - "Using your smartphone to store your credit card and bank information is convenient and secure, but don’t leave your wallet at home just yet."
  • Apple Pay from the Front Lines - GonzoBanker - "After using my iPhone for less than a month to make about a dozen payments, I’ve actually started to unintentionally reach for my phone instead of my wallet when it’s time to pay for something. Yikes."
  • With Fraud Afoot, Shield Your Wallet - New York Times - "That is why it’s a good idea to use a credit card when shopping online, or if you must use a debit card, use it in conjunction with something like PayPal..."
  • Preparing for Chip-and-PIN Cards in the United States - New York Times - "In total, roughly 70 percent of credit cards and 40 percent of debit cards are expected to use the technology by the end of next year, though the introduction of upgraded checkout systems will not be completed until the end of the decade."
  • Taking One Touch™ Mobile Payments International - Braintree Blog - "Today, in an effort to help people and businesses connect more seamlessly, reduce friction from buying on mobile and support innovation globally, we’re rolling out One Touch with PayPal in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, Sweden and the UK."
  • Seeing Explosive Mobile Growth as We Open Our New Office in San Francisco - Braintree Blog - "Our data confirms what we’ve known all along -- mobile is becoming the primary computing device and consumers are starting to expect a frictionless buying experience on mobile."
  • Why Apple Pay may be the gateway drug bitcoin needs - Gigaom - "Most consumers don’t understand the technology that is transferring the USD in their iPhone to the Walgreens, so if that was replaced with bitcoin’s blockchain technology, one may not notice."
  • This Investor Thinks Bitcoin Will Change EVERYTHING — Not Just Finance - Business Insider UK - "The Bitcoin block chain is different because everything underlying it is published, and there's no central controlling entity."
  • O’Reilly Media Unveils Blockchain Event, Announces Bitcoin Integration Nationwide - Coinbase Blog - "Taking place this winter in San Francisco, the one-day event will give attendees an opportunity to learn about Bitcoin’s significance and potential, and educate them on ways to leverage its tools, technologies and processes to expand and contribute to the ecosystem."

On the Wires:

  • New Innovation Lab in East Africa to Expand Digital Financial Services - "MasterCard Labs for Financial Inclusion launching in East Africa with funding from the Bill & Melinda Gates Foundation to develop financial services that help people build better futures..."
  • Amadeus and Worldpay partnership further simplifies travel payments - Celia Pereiro, Head of Travel Payments at Amadeus commented: “We are pleased to partner with one of Europe’s largest payment services providers. Worldpay will help us to fulfil our customers’ payment needs across the globe through a simple payment experience offered to their travellers."
  • MasterCard Takes Priceless Surprises To New Heights - “Today’s surprise is just one way we’re taking our Priceless Surprises platform to a whole new level by bringing in new partners and delivering surprises through new platforms to drive cardholder affinity,” said Raja Rajamannar, chief marketing officer, MasterCard.

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!

December 02, 2014

Headline News from PaymentsNews.com - December 2, 2014

On the Web:

On the Wires:

  • MasterCard Board of Directors Announces Increase in Quarterly Dividend and $3.75 Billion Class A Share Repurchase Program - “Today’s dividend and share repurchase program announcement comes as a result of our continued, strong financial performance,” said Ajay Banga, president and CEO, MasterCard. “We remain committed to delivering value to our shareholders, while investing in the growth of our business.”
  • SimplyTapp Raises $5.9M to Propel Mobile Payment Innovation - "SimplyTapp, the leading provider of Host Card Emulation (HCE) solutions for cloud based mobile payments, today announced it has raised $5.9M of a Series B financing round from undisclosed new investors and existing investors Blue Sky Capital and Lightspeed Venture Partners, bringing the total amount of funding raised to date to $7.6M."
  • CARDFREE Completes its Next Generation Order-Ahead Product - "This new patent license enables CARDFREE to provide its exceptional online/mobile ordering solutions within the US - for restaurants and other verticals. CARDFREE’s award-winning platform provides full commerce capabilities including cross-channel CRM, loyalty, payments and now its next generation order-ahead solution."
  • AribaPay Takes Off - “By automating billing and settlement and digitizing the “pay” in procure-to-pay, AribaPay is bringing the same simplicity to B2B payments and effectively changing the game by enabling companies to drive a more efficient, effective process that creates benefits on both sides of the equation.”

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!

December 01, 2014

Headline News from PaymentsNews.com - December 1, 2014

Welcome to December!

  • It's hard to believe that we're down to the last month of 2014! It's been quite a year for payments! Has anything changed in your life this year about how you make payments? If so, tell me about it!

On the Web:

  • Payments on Fire Podcast #11 – Bitcoin, Banking, and Crypto 2.0 Approaches - PaymentsViews.com - "Glenbrook’s George Peabody discusses Bitcoin and blockchain evolution with Sean Safahi, co-founder and CEO of Bold Financial Technologies, a provider of math-based currency services to the banking industry."
  • Bankers: First Data IPO Rapidly Approaching - "The company, through its CEO Bisignano, has been suggesting that KKR wants to cash out of the investment in the next year if possible."
  • Health-Care EFT Transaction Volume Via the ACH Grows Nearly 180% in a Year - Digital Transactions - "The new volume flows through the ACH network under a business-to-business transaction code known as CCD+Addenda (for cash concentration or disbursement)."
  • What Happens When You Swipe Your Card? - CBS 60 Minutes - "Even the strongest banks in the world-- banks like JPMorgan, retailers like Home Depot, retailers like Target -- can't spend enough money or hire enough people to solve this problem."
  • Shopping on a Phone Is Still Uncommon but Growing Fast - New York Times -“These cellphones are with us all the time, so why should you be doing Christmas shopping only at home? Why shouldn’t you do it while you’re on the subway, waiting for the bus, at the cafe?”
  • PayPal Reports Record-Breaking Number Of Black Friday Shoppers And Sales On Mobile - TechCrunch - "Based on its online commerce data, the company reports having seen a 47% increase in PayPal global mobile payment volume on Thanksgiving compared with Thanksgiving 2013, and a 62% increase for Black Friday 2014 over last year."
  • Thanksgiving Weekend Sales, at Stores and Online, Slide 11 Percent - New York Times - "The results could show that “there are a significant number of Americans out there for whom the recession is not yet over,” said Matthew Shay, the group’s president and chief executive."
  • Credit Card Rewards: The Deals Get Sweeter - Wall St. Journal - “Issuers are getting more aggressive in terms of what they’re willing to dangle to acquire new customers,” says Curtis Arnold, founder of CardRatings.com, a credit-card comparison website. “It’s an arms race.”
  • Cashless Society? It’s Already Coming - New York Times - "When you are out shopping, it’s the wallet, not the credit card, that is the annoyance. It’s bulky. It can be forgotten, or lost. I’ve learned while traipsing about buying stuff with my ApplePay that I can whittle down wallet items that I need to carry to three..."
  • "Banks As Commodity Utilities In A New Payment World - TechCrunch - "To stay relevant, banks must embrace the technology-driven changes and look for new opportunities rather than protecting and preserving antiquated business models."
  • Are universal credit cards the next thing? - Geektime - "Coin recently started shipping their long awaited universal credit card to early bakers in the US, in a very overdue timing. But meanwhile, other universal credit cards companies entered the market, which makes you wonder if this is the next big thing."

On the Wires:

  • Intel Acquires PasswordBox, an Award-Winning Digital Identity Manager - “Everyone can relate to password fatigue. The PasswordBox service has already brought relief to millions of consumers who now enjoy simple, instant login,” said Chris Young, senior vice president and general manager of Intel Security Group.
  • BCG and SWIFT publish annual Global Payments report - "The aim of the report is to provide payments and transaction-banking institutions with a comprehensive overview of major business drivers shaping the industry. It also provides the reader with recommendations on which specific actions should be taken by various types of players in order to achieve or maintain market-leading positions. In today's competitive environment, financial institutions must differentiate themselves and bring value to continue to grow."

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!

November 26, 2014

Headline News from PaymentsNews.com - November 26, 2014

Happy Thanksgiving!

  • To our friends and readers in the United States, best wishes for a wonderful Thanksgiving celebration with your family and friends! We'll be back at the news desk on Monday, December 1st.

On the Web:

  • Discover Sues Visa Over Debit-Card Practices - Wall St. Journal - "Discover is challenging a Visa rule that requires financial issuers of Visa signature debit cards to also include Visa’s PIN services instead of allowing other PIN networks like Pulse to compete for that business."

On the Wires:

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!

November 25, 2014

Headline News from PaymentsNews.com - November 25, 2014

On the Web:

  • Wake Up, Brick-and-Mortar Retailers - Wall St. Journal - "If you were running a brick- and-mortar retailer and knew that 25 years from now a third of your sales would be online, you would run your business differently."
  • Introducing Twitter Offers - Twitter Advertising Blog - "Starting today (in the U.S. only), we’re beginning to test a new way for advertisers to connect with consumers on Twitter and convert them to loyal customers in their stores, on their websites and in their apps. This feature, Twitter Offers, enables advertisers to create card-linked promotions and share them directly with Twitter users."
  • Stripe on how Apple Touch ID is transforming point of sale - Wired Retail - "We're really excited about Apple Pay, says Stripe's Andy Young speaking on stage at WIRED Retail. But, he adds, "if we're thinking about the future and where we should go, suddenly it gets even bigger than Apple Pay itself."
  • First Data command center in Omaha has major role in war against cybercrooks - Omaha.com - "A team of about 100 employees works during daylight hours and another team of about 55 employees works the night shift, said Dawn Baxter, IT director at First Data."
  • What’s Unsettled in Faster Payments? - Portals and Rails Blog - "The UK has successfully offered real-time clearing and availability without real-time settlement. However, other countries have built real-time settlement into their new systems because it does indeed reduce systemic risk."
  • The promise of Bitcoin - VentureBeat (Melanie Shapiro) - "The same way that the Internet made information free for the world, Bitcoin makes fraudless transactions free for the world."
  • The Blockchain Application Stack - Joel Monego (Union Square Ventures) - "One thing I like about this stack is that it’s growing from the bottom up. First we had miners, the blockchain, and Bitcoin, and now we’re building everything else on top. As far as I know, the most significant revolutions in technology have been built this way."
  • The endangered SIM card - Economist - "Since re-programmable SIMs make it easier not just to sign up with a mobile operator but to switch away from one, the operators are wary of the innovation."

On the Wires:

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!

November 24, 2014

Headline News from PaymentsNews.com - November 24, 2014

On Twitter:

On the Web:

  • Chase Debuts First Spot Featuring Apple Pay - Ad Age - "We've been working with Apple for a long time -- over a year -- on this partnership," said Chase Chief Brand Officer Susan Canavari. "We thought about their values as well as ours, and we both focus on our customers."
  • Square will soon accept Apple Pay - CNN Money - "Square founder Jack Dorsey -- who also famously launched Twitter -- told CNN that he wants to help businesses accept all forms of payments, and Apple Pay is no exception."
  • 'Tis is the season for mobile shopping - Google Official Blog - "Starting this week, when you search for a specific product on your smartphone or tablet you’ll see more detailed information about the product and where to buy it, like which stores have it available and product reviews from customers."
  • Shoppers Go Mobile Black Friday Weekend - Google Shopping Blog - "To get a read on the trends heading into Black Friday, we took the temperature of holiday shopping online. We looked at search trends on Google, insights from Google Consumer Surveys and top trending purchases on our same-day delivery service, Google Express."

On the Wires:

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!

November 21, 2014

Headline News from PaymentsNews.com - November 21, 2014

On the Web:

  • Add Your Chase Visa Card to Apple Pay for a Complementary Album - Chase - "With Chase and Apple PayTM, your phone and wallet are now one. Set up your eligible Chase Visa card to enjoy more convenient checkouts and, for a limited time, a complimentary album pre-release of Listen by David Guetta on iTunes."
  • Why retailers are wrong on Apple Pay - CNBC Commentary - "There's a war going on for your wallet. Around the world, the credit and debit cards we use every day are under threat from a combination of regulators and aggrieved merchants."
  • Fed Launches Review of Practices for Supervising Big Banks - Wall St. Journal - "The Federal Reserve launched a sweeping review of how it supervises big banks amid growing criticism that its process for policing Wall Street isn’t effective and stifles internal dissent."
  • Everybody Pivots - Bitcoin Foundation Blog - "Our members are signaling that its time to return to our roots and that is to focus on funding the ongoing core development to build out the critical infrastructure that serves as the foundation of this brand new digital ecosystem."

On the Wires:

  • Oink Launches Prepaid Card for Teens - “Our goal is to have Oink be the payment option of choice, online or offline, for families worldwide,” said Dr. Jo Webber, CEO of Oink. “The Oink Card is the perfect complement to our digital product, giving teens a way to have more flexibility to use their personal account to shop in the real world, but still within parental limits and a secure environment where their personal information is protected.”

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!

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