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December 04, 2015

Headline News from PaymentsNews.com - December 4, 2015

On the Web

  • Apple Makes A Beeline For Carrier Billing In Emerging Markets, Starting With Russia - Techcrunch - "It’s therefore a perfect storm for Apple and carrier billing: countries like Russia represent a lot of growth for Apple, and so it’s creating a way to make it easier for consumers in these markets to pay..."
  • MasterCard, Visa Named Top Global Innovators - Wall St. Journal - "Six financial services firms are ranked among Boston Consulting Group’s annual list of top 50 global innovators. This is after two years of drought when no financial companies made the cut."
  • Machine Learning and Big Data Know It Wasn’t You Who Just Swiped Your Credit Card - Scientific Computing - "Fraud detection is an arms race between good guys and bad guys. At the moment, the good guys seem to be gaining ground, with emerging innovations in IT technologies, such as chip and pin technologies, combined with encryption capabilities, machine learning, big data and, of course, cloud computing."
  • Our thoughts on Ethereum - Medium (KPCB Edge) - "We think Ethereum as a software platform significantly adds to the potential ways blockchain technology could be used in an application’s technology stack."
  • Q: What Might Drive Bitcoin Mass Adoption? - Medium - "As was the case on the early internet, the early pioneers mainly consist of the speculators, developers and scientists who see this potential, building out early infrastructure on top of the base transport layer, with the masses joining in only once the killer applications develop, not the other way around."

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, 2015

Headline News from PaymentsNews.com - December 3, 2015

On the Web

  • How Backpage Is Different from Choke Point - Credit Slips (Adam Levitin) - "The truth is that Backpage has little in common with Operation Choke Point beyond the hydraulic regulatory idea of regulating a payments processor to regulate the recipient of the payments."
  • Credit-Card Rules Have Cut $16 Billion in Fees: Report - Wall St. Journal - "The biannual industry survey released Thursday by the Consumer Financial Protection Bureau said consumers saved more than $7 billion in credit-card late fees between 2011 and 2014."
  • Goldman Sachs: 'The Blockchain can change... well everything' - Business Insider - "While the Bitcoin hype cycle has gone quiet, Silicon Valley and Wall Street are betting that the underlying technology behind it, the Blockchain, can change... well everything."

On the Wires

  • CFPB Finds CARD Act Helped Consumers Avoid More Than $16 Billion in Gotcha Credit Card Fees - “The CARD Act has helped people avoid more than $16 billion in gotcha credit card fees,” said CFPB Director Richard Cordray. “The law made it easier for consumers to evaluate costs and risks by eliminating the worst back-end pricing practices in the market. There is more work to do. But with commonsense rules in place, credit cards are safer and more affordable, credit is more available, and companies remain profitable with improved customer satisfaction.”
  • Umpqua Holdings Corporation Creates New Subsidiary, Pivotus Ventures, Inc. - Pivotus will be headquartered in California’s Silicon Valley. “Like all industries, banking must evolve quickly to adapt to changing consumer behaviors and technologies. In collaboration with like-minded organizations, Pivotus will be focused on creating new digital models that accelerate growth, add accretive revenue and enhance the customer experience across all channels,” said Ray Davis, president and CEO of Umpqua Holdings Corporation. “By bringing together the expertise of companies nationally and internationally, Pivotus will be uniquely positioned to develop and scale industry-changing innovation quickly and effectively.”
  • Axis Bank Launches Display Debit Card for NRE Customers - Commenting on the launch, Rajiv Anand, Group Executive & Head Retail Banking at Axis Bank said “We are proud to be the first Indian bank to introduce Display Debit cards for our customers. The launch of the new card further reinforces our commitment to improving customer experience by deploying cutting-edge technology solutions that provide both security and convenience.”
  • Global Payments Offers a Full Range of EMV Certified Mobile Solutions - "We continue to provide our customers access to a suite of payments technology solutions designed to be the most secure in the industry," stated Frank T. Young, SVP, Global Product and Innovation. “As we lead with innovative point-of-sale solutions, we're pleased to be among the first to market a full range of EMV certified mobile solutions delivering exceptional functionality.”

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, 2015

Headline News from PaymentsNews.com - December 2, 2015

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 01, 2015

Headline News from PaymentsNews.com - December 1, 2015

On the Web

  • The Future of Personal Payments - Medium (Jeremy Allaire) - "Long considered a product and market backwater, given countless product efforts in the West that have largely failed to live up to the hype or potential, p2p payments is now emerging as potentially one of the most valuable pieces of consumer Internet real estate."
  • Why Apple Wants to Get Into the Unprofitable World of Payments Between Friends - Bloomberg - "Apple isn’t likely to find a way to profit directly from the feature. Instead, the company will probably use it to increase adoption of Apple Pay in stores."
  • Touch ID Is The Gift That Keeps On Giving - ReadWrite - "While some think Apple Pay requires you to open the Apple Wallet (formerly Passbook), find the card, hold it in front of the register, and then authenticate using Touch ID, you don't. All you actually have to do is hold the phone near the register with your finger on the Touch ID "home" button. That's it."
  • JCPenney testing store card support for Apple Pay, full rollout due in spring 2016 - MacRumors - "Thus far, Kohl's is the only major retailer that currently allows its store cards to be added to Apple Pay, but both Kohl's and JCPenney have been touted as the two major partners for the feature."

On the Wires

  • CO-OP Financial Services to Offer Visa Checkout for Easy, Secure Online Shopping - "“Visa Checkout is a simpler, more secure way for credit union members to pay online almost anywhere in the world,” said Stan Hollen, President/CEO of CO-OP. “Visa Checkout is another advanced digital product that underscores CO-OP’s commitment to helping our credit union clients keep their branded credit cards top of wallet, regardless of what payment services the member may choose.”
  • CO-OP Financial Services Offers MasterPass by MasterCard - “CO-OP is committed to partnering with credit unions to help them deploy a digital e-commerce solution that fits the needs of their members,” said Stan Hollen, President/CEO of CO-OP. “MasterPass is an important piece of a comprehensive digital e-commerce strategy, and complements digital wallets such as Apple Pay, Android Pay, Samsung Pay and others.”
  • BBC Worldwide Selects Vindicia to Manage Payments for BBC Store - Gene Hoffman, chief executive officer and chairman at Vindicia, said: “Vindicia’s CashBox solution enables audiences to buy BBC content quickly and easily using cash available in their e-wallet, or via other means, such as PayPal or store-bought gift cards.”
  • American Express Serve® Expands Largest Free Cash Reload Network1 in U.S. - “We are thrilled to add Dollar General and Rite Aid to our Free Cash Reload network, giving Account holders even more places to add cash at convenient locations in their communities,” said Stefan Happ, Chief Commercial Officer, Enterprise Growth, American Express.

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 30, 2015

Headline News from PaymentsNews.com - November 30, 2015

On the Web

  • China's Mobile Payments War Is Going Global - AdvertisingAge - "For brands catering to Chinese consumers, whether at home or overseas, Alipay and WeChat payment are the two main mobile payment players to watch and understand; their intense competition is driving innovation and new consumer habits."
  • Trouble in the Checkout Line: Which Way to Pay? - Wall St. Journal - "The choice at checkout used to be simple: Cash or credit? Now consumers confront a dizzying array of payment possibilities: PIN or signature? Dip or swipe? Wave or tap? You really want to pay with your watch?"
  • Four E-Commerce Lessons From Black Friday Weekend 2015 - Re/code.net - "According to multiple studies, ecommerce sales on Thanksgiving this year grew more than on Black Friday."
  • Watch Out, Visa and MasterCard; Here Comes Blockchain - Barron's - "The virtual currency had a surge of popularity before a panic led to extreme skepticism about such fantasy money. But blockchain technology is a sound idea that’s separate from Bitcoin, and it could end up having a far greater impact than the currency."
  • With IPO out of the way, payments disrupter Square plots Aussie growth - Financial Review - "Square's Australian country manager, Ben Pfisterer told The Australian Financial Review the company was about to embark on a local hiring spree, which would focus on marketing and business development, while it figured out plans to roll out some of its more well-known products."
  • Apple's Failed Retail Revolution: Beacons Still Won't Be Big on Black Friday - Bloomberg - "A survey conducted by Forrester earlier this year found that only 3 percent of retailers use beacons; just 16 percent had plans to try the technology in the foreseeable future."

On the Wires

  • Swatch Partners With Visa for Pay-By-The-Wrist Contactless Payments - "Swatch SA and Visa Inc. together with Visa Europe have signed an agreement giving eligible Visa cardholders in the U.S., Switzerland and Brazil the ability to tap and pay with Swatch’s new "pay-by-the-wrist" watch."
  • BlueSnap Launches the Powered Buy Platform - “Converting a shopper to a buyer on a mobile device requires more than just having a mobile-optimized site or an app,” says Ralph Dangelmaier, CEO of BlueSnap. “We’ve spent the last year optimizing the set of capabilities that merchants need to solve their payments conversion problem — and built that into our Powered Buy Platform. Clients who’ve used it have seen their payment conversions increase dramatically – improving their sales literally overnight.”
  • Krispy Kreme® Launches Mobile Rewards Program Powered by NCR - “Our goal in developing the Krispy Kreme Rewards program was to enable guests to experience the joy that is Krispy Kreme and earn rewards for their loyalty,” said Tony Thompson, Krispy Kreme’s President and CEO. “It is critical for us to know our guests more personally and our mobile app provides the data that helps us meet the needs of today’s consumer.”

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

November 27, 2015

Headline News from PaymentsNews.com - November 27, 2015

On the Web

On the Wires

  • The EPC Submitted to the ERPB its Proposal for the Design of an Instant Credit Transfer Scheme - "The European Payments Council (EPC) proposal for the design of a Single Euro Payments Area (SEPA) instant credit transfer (SCT Inst) scheme was submitted on that day to the Euro Retail Payments Board (ERPB), and approved."
  • New GSMA Study Highlights Role of Mobile in Delivering a Digital India - “India is a unique mobile market and one where the mobile ecosystem is playing a hugely influential role in transforming the lives of its citizens, and driving economic growth,” said Alex Sinclair, Acting Director General and Chief Technology Officer at the GSMA. “The market is now rapidly migrating to mobile broadband technology, which is providing a platform for India to transform into a digitally empowered society and connect many millions of unconnected citizens to the internet over the coming years.”
  • Five Ways to Keep the Grinch Out of Your Cybershopping: Tips from U.S. Bank Security Coach Jason Witty - US Bank - “It’s important to remember the critical role consumers play when it comes to protecting their personal information and data; they can’t rely on businesses and retailers alone,” said Jason Witty, Chief Information Security Officer at U.S. Bank. “Holiday shopping is fun, but it’s important to always remember the risks involved and take proper precautions.”

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

November 25, 2015

Headline News from PaymentsNews.com - November 25, 2015

On the Web

On the Wires

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

November 24, 2015

Headline News from PaymentsNews.com - November 24, 2015

On the Web

On the Wires

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

November 23, 2015

Last Call: Glenbrook Payments Boot Camp - Dec 1 and 2 in Palo Alto, CA

GP logo 140pxHere's a quick reminder that our last Glenbrook Payments Boot Camp for 2015 will be held next Tuesday and Wednesday - December 1-2 - in Palo Alto, California.

The Payments Boot Cmap will be followed by a one-day special Insight Workshop on Thursday, December 3 on the topic of Digital Payments - learn more about this workshop here.

Registration for both sessions is open - but will be closing in a few days.

If you have questions about our payments education program, please contact our partner Russ Jones for more information.

Headline News from PaymentsNews.com - November 23, 2015

On the Web

  • How the payments industry is being disrupted - McKinsey - "Setting aside changes in macroeconomic fundamentals that are difficult to predict, we foresee four potential disruptions that will alter the payments landscape in the coming years..."
  • Digital Currencies - Bank for International Settlements (BIS) - "Such technology may have potential to improve some aspects of the efficiency of payment services and financial market infrastructures (FMIs) in general. In particular, these improvements might arise in circumstances where intermediation through a central party is not currently cost-effective. This report considers the possible implications of interest to central banks arising from these innovations."
  • iPhone - Guided Tour: Apple Pay - YouTube - "See how easy it is to set up Apple Pay and make quick, secure and private payments from your iPhone."
  • New Visa ad campaign for Apple Pay starts today in the UK with ‘anticipation’ theme - 9to5Mac - "Alongside a MasterCard promo offering free travel in London, Visa Europe is today launching a two-month long ad campaign designed to emphasize the speed, ease and reliability of the service."
  • Samsung will give you a $50 Best Buy gift card if you activate Samsung Pay - 9to5 Google - "Samsung really wants you to use its new payments service, and they’re even willing to give you a $50 Best Buy gift card if you get on board."
  • U.S. travelers in Cuba can now use Stonegate Bank debit card - Miami Herald - "Pompano Beach-based Stonegate Bank announced Thursday that it will offer customers a debit MasterCard that can be used in Cuba by Americans who qualify to visit the island under one of 12 categories of travel approved by the U.S government."

On the Wires

  • Diebold and Wincor Nixdorf to Combine, Creating Premier Self-Service Company for Financial and Retail Markets - “The rate of change we see in our industry is unprecedented, and by leveraging innovative solutions and talent from both organizations we will have the scale, strength and flexibility to help our customers through their own business transformation,” said Andy W. Mattes, Diebold president and chief executive officer (CEO). “Our new company will be well positioned for growth in high-value services and software -- particularly in the areas of managed services, branch automation, mobile and omnichannel solutions -- across a broader customer base."
  • UnionPay Ranks No.1 among All Newly-issued Bankcards in Hong Kong - "According to the latest data, the commercial banks in Hong Kong are very enthusiastic about issuing UnionPay cards. In 2014, UnionPay credit cards took up over 50% of all credit cards newly increased by various brands locally. Over 90% of the debit cards in circulation are UnionPay cards."
  • U.S. Bank Supports United States Marine Corps Toys for Tots Campaign; Announces Additional Donation Opportunity with Apple Pay - “U.S. Bank is focused on making it easier and more convenient for our customers to do business with us and the businesses where they shop,” said Cliff Cook, Senior Vice President for U.S. Bank Retail Payment Solutions. “This holiday season, we’re encouraging customers to try using Apple Pay™ and at the same time support the Toys for Tots campaign. Joining us in promoting this additional donation opportunity with Apple Pay are more than 140 small businesses in the Twin Cities and we appreciate their support.”
  • Chase Visa cardholders can now use Samsung Pay - “Samsung Pay gives our customers another convenient way to pay with their Chase Visa credit, debit or Chase Liquid® cards,” said Gavin Michael, Head of Digital for Chase. “They choose how they want to pay.”
  • Chase Freedom Survey Reveals Americans’ Holiday Shopping Habits; Cardholders Can Earn 10% Cash Back at Amazon.com Starting 11/23 - "In time to help holiday shoppers tick through shopping lists while saving time and earning cash back that can be put toward something fun for themselves, Chase Freedom will offer cardholders an extra 5% cash back (for a total of 10%) on up to $1,500 in new combined purchases at Amazon.com, Zappos.com, Diapers.com and Audible.com from November 23 through December 31."
  • Samsung Pay Adds Eight More Credit and Debit Card Issuers Including Chase - "Samsung Electronics Co., Ltd. announced today that Samsung Pay, the most accepted mobile payment system, now supports eligible Chase Visa® credit, debit and Liquid® cards, as well as debit and credit offerings from MasterCard issuers: Citizens Equity First Credit Union, Randolph-Brooks Federal Credit Union, Security Service Federal Credit Union, State Employees’ Credit Union, SunTrust and Virginia Credit Union."
  • Xero launches Apple Watch app - "Expanding on Xero’s apps for iPhone and iPad, Xero for Apple Watch also enables business owners to Xero in on bank transactions to see who's paid them, and the amount."

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

November 20, 2015

Headline News from PaymentsNews.com - November 20, 2015

What I'm Reading

  • This week your editor has been enjoying reading Sapiens: A Brief History of Humankind by Yuval Noah Harari.
  • Sapiens is a fascinating story about humanity on earth that I'm really enjoying reading. While not directly related to payments or fintech, it provides lots of insights into human behavior! From the description: "One hundred thousand years ago, at least six different species of humans inhabited Earth. Yet today there is only one—homo sapiens. What happened to the others? And what may happen to us?"
  • How about you? What are you reading? Drop me a quick note and tell me about it: editor@paymentsnews.com

On the Web

  • Introducing the Shift Card - Coinbase Blog - "The Shift Card is a VISA debit card that currently allows Coinbase users in twenty-four states in the U.S. to spend bitcoin online and offline at over 38 million merchants worldwide."
  • Fewer Digital Wallet Users Are Making Payments - eMarketer - "Digital wallet adoption is increasing in the US, but some common tasks such as making a payment or receiving money are actually becoming less common among users of such services, per September 2015 data."

On the Wires

  • Starwood Notifies Customers of Malware Intrusion - "Starwood Hotels & Resorts Worldwide, Inc. announced today that the point of sale systems of a limited number of its hotels in North America were infected with malware, enabling unauthorized parties to access payment card data of some customers."
  • Holiday Retail Sales Driven by Confident Shoppers with More to Spend and More to Buy, Synchrony Financial Study Finds - "Nearly half (47%) of those surveyed indicate they are more confident in their financial situation than last year (37%), and 48% plan to start their holiday shopping earlier this year. Improved finances and larger gift lists are cited as reasons that 32% of shoppers surveyed plan to spend more this season than last season, up from 21% in 2014. "
  • Wells Fargo Predicts Rise in Spending Heading into Black Friday - “Economic conditions and consumer confidence continue to improve as we head into the holiday shopping season,” said economist Michael Brown who co-authored the report with senior economist Eugenio Aleman, both part of Wells Fargo Securities Economics. “The National Retail Federation’s holiday spending survey found that the average holiday shopper is expected to spend 0.4 percent more per person than they did last year.”
  • Cardlytics Releases Holiday Consumer Spending Report - “As more consumers spend their holiday budgets closer to Christmas, the challenge for retailers is to engage shoppers at every opportunity,” said Dani Cushion, Chief Marketing Officer, Cardlytics. “Retailers should plan accordingly and adjust their strategy to offer variety in their deals, specifically targeted to each shopper profile throughout the holiday season.”
  • FIDO Authentication Poised for Continued Growth as Alliance Submits FIDO 2.0 Web API to W3C - "To carry this momentum into 2016, the FIDO Alliance today submitted to the World Wide Web Consortium (W3C), the international standards organization for the World Wide Web, a set of three technical specifications required to define a standard Web-based API designed to increase FIDO’s existing desktop, Chrome, Android and iOS reach to support other platforms."

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

November 19, 2015

Headline News from PaymentsNews.com - November 19, 2015

On the Web

  • Why Square Has to Get Out of the Payments Circle - Wall St. Journal - "Square has gone public as a payments company. Its share price from here will depend on the company’s ability to reshape itself."
  • Square Shares Jump on Trading Debut - New York Times - "At the close of trading on the New York Stock Exchange, the shares were up 45 percent, at $13.07. Earlier, the stock was up as much as 64 percent."
  • For Its I.P.O., Square Scales Back Valuation by $3 Billion - New York Times - "Square — valued in a private financing last year at $6 billion — priced its initial public offering at a level that gave the payments company a valuation of $2.9 billion."
  • Getting The Deal Done - AVC (Fred Wilson) - "If you believe in your business and yourself, take the money and get back to work. A financing is not an exit. The price matters less than the cash most of the time."
  • Startup Fuels Africa’s Mobile-Payment Boom - Wall St. Journal - "Founded in 2009, MFS Africa has pioneered a mobile payment platform embraced by the continent’s biggest telecommunications operators, which count about 500 million customers combined."

On the Wires

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

November 18, 2015

Headline News from PaymentsNews.com - November 18, 2015

On the Web

  • Square IPO Offers Up a Litmus Test - Wall St. Journal - "The mobile-payments startup founded and run by Twitter Inc. Chief Executive Jack Dorsey is perhaps the highest-profile IPO out of San Francisco this year..."
  • Banks and Fintech Firms’ Relationship Status: It’s Complicated - Wall St. Journal - “The classic narrative is the Silicon Valley firebrand who’s taking on the system,” said Matt Harris, managing director of Bain Capital Ventures, an early Simple investor. In financial services, though, “that’s just not going to be a winning narrative.”
  • Blockchain: A Fundamental Shift for Financial Services Institutions - Capgemini - "In this paper, Capgemini looks at blockchain technology and how it can transform financial institutions. We also explore how to evaluate this new technology and what to consider when looking at blockchain as a transformational opportunity."
  • Fidelity Charitable Donors Can Now Contribute Bitcoin - Coinable Blog - "This partnership is the latest example of a large organization leveraging the power of the world’s largest, most secure blockchain, the Bitcoin blockchain."

On the Wires

  • Online Retail Fraud Attempts Increased by 30% in Past Year - “When it comes to fraud, 2015 is likely among the riskiest season retailers have ever seen; and it is critical that they prepare for a significant uptick in fraud, particularly within eCommerce channels,” said Mike Braatz, senior vice president, Payments Risk Management, ACI Worldwide. “Our findings suggest that merchants must be even more vigilant and shore up eCommerce fraud protocols, which may leave online shoppers more vulnerable.”

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

November 17, 2015

Headline News from PaymentsNews.com - November 17, 2015

On the Web

On the Wires

  • Western Union Offers New Global Money Transfer Service on WeChat - “Given the proliferation of social media around the world, we are expanding our activities in this exciting area. It only makes sense to include the WeChat platform as part of the company’s innovative digital money transfer capabilities. By teaming with WeChat and deploying the WU Connect platform to its U.S. users, Western Union is offering yet another new method for consumers to move money worldwide."
  • Global Payments Announces Support for Apple Pay in Canada - “Following successful enablement in the U.S. and the UK, Global Payments is pleased to be one of the first providers in Canada to offer merchants the exciting opportunity to accept Apple Pay,” said Frank T. Young, SVP, Global Product and Innovation.
  • Chase teams up with 18 technology partners to help merchants accept Chase Pay - "These industry leaders will help merchants integrate Chase Pay into their overall payment acceptance strategy,” said Michael K. Passilla, CEO of Commerce Solutions, the global payment processor and merchant acquirer of JPMorgan Chase & Co. “Chase Pay solves a number of pain points for consumers and merchants to improve the customer experience and drive down the cost of payments.” - The technology partners announced include: 3Delta Systems, AJB Software, Aria Systems, Auric Systems, Authorize.Net, BridgePay, Bytemark, CardinalCommerce, FIS ClearCommerce, CyberSource, iBiz Software, LevelUp, Miva, P97, Recurly, USAePay, Vindicia and Xpress Bill Pay.
  • PayPal 2nd Annual Global Report Shows More Than 1/3 of Chinese Online Shoppers Now Buying Cross-Border - "Amidst a year of market-moving news coming out of China, no shortage of attention has been paid to its growing consumer class’ buying power as more enter the global online ecommerce market. This year’s findings support the growth trend: 35 percent of online shoppers claim to have shopped cross-border in 2015, vs. 26 percent in 2014."
  • Align Commerce Closes $12.5 Million Series A Round Led by Kleiner Perkins Caufield & Byers (KPCB) - "For far too long the cost and complications of existing payment systems have hindered startups and SMBs from fully capitalizing on global trade,” said Marwan Forzley, CEO of Align Commerce. “The Align Commerce platform cuts through time-consuming red tape and excessive fees that have unnecessarily burdened users. Existing systems have seen little innovation in the face of game-changing new technologies, and the entire experience is overdue for a radically different approach.”
  • First Data and NCR Sign Strategic Commercial Agreement - "First Data will be a preferred provider of cybersecurity and payment processing solutions to NCR’s customers in the grocery, petroleum and convenience store industries. NCR will be a preferred provider of ATM hardware and services to First Data’s client base of more than 4,000 financial institutions. The two industry leaders will also pursue co-development of integrated commerce technology solutions for U.S. merchant clients."
  • NFC Forum: U.S. Retailers May Not Be as Prepared for Retail Payments Migration as They Think - "The white paper describes ways for merchants to secure their businesses against fraud while accepting payment from customers in the way they prefer to pay. "
  • Synchrony Financial Announces Completion of Separation from GE - “This is an historic day for Synchrony Financial,” stated Margaret Keane, president and CEO of Synchrony Financial. “Today we launch the next stage in our company’s future – pursuing a long-term strategy focused on Synchrony’s business objectives as a stand-alone company. I am very proud of our employees, who have prepared us for this day, while continuing to serve our partners and customers and to grow our business.”

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

November 16, 2015

Headline News from PaymentsNews.com - November 16, 2015

On the Web

On the Wires

  • Nordstrom Launches Enhanced E-Gifting Experience with CashStar - "With CashStar Commerce, Nordstrom has enabled its customers to create a highly personalized e-gifting experience for their recipients with a large selection of Nordstrom-designed faceplates and artwork and ability to add a personalized message. The eGift card is delivered in a virtual Nordstrom silver envelope, an extension of Nordstrom’s signature silver box experience. Senders can also choose to have the eGift delivered instantly or on a future date and will receive notification when their gift has been viewed."
  • U.S. Bank Consumer Study Raises New Perspective on How Banks Balance Technology with a Human Touch - "Approximately 70 percent of consumers across all generations (85 percent of millennials) believe banks that are current with the latest technology are more trustworthy than banks that lag; however, nearly 4 out of 5 Americans say when it matters most, they value people more."
  • MasterCard Connects Startups to Its Global Network of Big Brand Partners - "Launched in 2014, MasterCard Start Path is a global effort to support innovative early stage startups developing the next generation of commerce solutions. This initial class of early-stage startups, selected from more than 200 applicants, are using big data, mobile and cloud-based applications to build digital relationships, empower consumers and simplify complicated tasks."
  • JCB Certified for U.S. EMV Chip Card Acceptance - "We are extremely pleased to achieve our first U.S. EMV acceptance certification,” said Dan Skaling, executive vice president for JCBUSA. “JCB has been a leader in EMV card acceptance in markets around the world for the past 10 years,” added Skaling. “Being able to give our cardholders this same safety and security when making purchases in the United States is a top priority,” continued Skaling.
  • Chase Commerce Solutions will streamline EMV certification with Host Payment solution from UL - "The "Chase Payment" module, which works with UL's existing Brand Test Tool solution, was specially designed for Chase so that their large and midsized business clients can test and pre-certify their end-to-end EMV solution prior to certification," says Sherif Samy the Commercial Director of UL's Transaction Security Division."

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

November 13, 2015

Headline News from PaymentsNews.com - November 13, 2015

What I'm Reading

  • This weekend your editor will be reading a book recommended by one of our readers (Joel F.): Revolutionary Summer: The Birth of American Independence by Joseph J. Ellis.
  • A distinctive portrait of the crescendo moment in American history from the Pulitzer-winning American historian, Joseph Ellis. From Amazon's review: "Reading Revolutionary Summer is like receiving a distinguished lecture from a man who has dedicated many fruitful decades to breathing life into our understanding of history—he makes Washington, Adams, Jefferson, and others of the era come alive for the reader."
  • How about you? What are you reading? Drop me a quick note and tell me about it: editor@paymentsnews.com

On the Web

On the Wires

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

November 12, 2015

Headline News from PaymentsNews.com - November 12, 2015

On the Web

  • Paying Your Pals With Digital Options From Venmo to Facebook - ABC News - "Cash is passe, say digital mavens. If you really want to pay your friends back for that pizza party, use an app to shoot money to their mobile-phone number — or their Facebook account."
  • What lies behind the JPMorgan Chase cyber-attack - Economist - "The proceeds, since the scams started in 2007, amount to hundreds of millions of dollars. They stole personal data relating to more than 100m people, 83m of them customers of JPMorgan Chase."
  • Sending money overseas: could the blockchain hold the answer? - "By combining our experience as the largest payments network in the world, with Epiphyte’s knowledge of the distributed ledger, we’re hoping we can identify ways to improve the experience and better understand how these findings might be applied to remittance processes in the future."
  • New York FinTech Innovation Lab 2016 - AVC.com (Fred Wilson) - "If you are starting or building a company that is focused on the fintech sector and would like some help on strategy, product market fit, and business development, this is a great program to consider."

On the Wires

  • PayPal Completes Acquisition of Xoom - "Xoom will operate as a separate service within PayPal under the continued leadership of John Kunze, who has joined PayPal’s executive staff and will report to PayPal CEO Dan Schulman."
  • Chase Celebrates the Holidays with VIP Lounges for United MileagePlus® Cardmembers - “Every year we look forward to providing the VIP Lounge experience for United MileagePlus Cardmembers to enjoy some much needed relief from the hectic holiday shopping crowds,” said David Gold, general manager, Chase. “Whether it’s heading to the mall or traveling on vacation, we always look for exciting ways to give our Cardmembers unique benefits and special programs, such as the VIP Lounge and Inside Access events.”
  • MasterCard Expands Consumer Protection Across the Globe - “Over the past few years, consumers have grown increasingly concerned about the security of their data and account information, and liability for unauthorized transactions,” said Nancy O’Malley, chief payment system integrity officer, Enterprise Security Solutions at MasterCard. “With this new global program, we, together with our issuers, are providing our cardholders with additional peace of mind regardless of where they live or travel.”
  • MasterCard Announces Executive Appointments - "Ed McLaughlin has been named chief information officer." "Garry Lyons, chief innovation officer, will now lead the Digital Payments and MasterCard Labs organizations." "Raja Rajamannar, chief marketing officer, will add communications to his responsibilities." "Chris Monteiro will become chief communications and digital marketing officer, reporting to Rajamannar."
  • SWIFT Institute: New research evaluates real-time payment systems - "The report, entitled “Near Real-time Retail Payment and Settlement Mechanism Design” by Zhiling Guo, Robert J. Kauffman, Mei Lin, and Dan Ma from the School of Information Systems at Singapore Management University focuses on the development of a ‘hybrid priority queuing mechanism’ for faster payment settlement systems."
  • Heartland, The Pinnacle Corporation First to Offer Integrated EMV POS Solution for Convenience Petroleum Merchants - "Heartland and Pinnacle’s Palm POS™ system provides petro retailers with the highest level of protection available against card-present data fraud and will accept EMV chip-cards for indoor and contact transactions."
  • Credit Karma Launches Direct Dispute Feature to Help the One in Four Americans with a Credit Report Error - “Nearly half of Americans have not checked their credit report2, so many have errors which might be hurting their credit score. We want to change that,” said Ken Lin, founder and Chief Executive Officer of Credit Karma. “Our online Direct Dispute feature lets our members easily take action as soon as they see an error."

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

November 11, 2015

Headline News from PaymentsNews.com - November 11, 2015

On the Web

On the Wires

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

November 10, 2015

Headline News from PaymentsNews.com - November 10, 2015

On the Web

On the Wires

  • £250,000 Faster Payments Open for Business - "Banks and building societies can enable their customers to send Faster Payments of up to £250,000 per payment from today (Tuesday 10 November 2015), following an increase to the scheme limit announced by Faster Payments Scheme Limited (FPSL)."
  • U.S. Bank Launches First Mobile Payment App for General Aviation - "Private and business aviation pilots can now pay for fueling and services directly from their phones with a new app from U.S. Bank Multi Service Aviation. MSA Pay, which went live this week, is the first mobile payment app in the general aviation space, designed specifically for the ordering, payment and back office needs of pilots."
  • U.S. News & World Report Releases the Best Credit Cards Rankings - "U.S. News & World Report, a nationally recognized publisher of consumer advice and information, has released a Best Credit Cards web portal to help the estimated 167 million American adults who have a credit card make smarter decisions about which ones to include in their wallet."

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

November 09, 2015

Headline News from PaymentsNews.com - November 9, 2015

On the Web

On the Wires

  • PAX Appointed Leading Payment Vendor at Russia's Sberbank - "PAX Technology, a global leader in the provision of secure electronic payment terminal solutions, has become the major payment terminal supplier to Sberbank, the largest bank in Russia."
  • ShopWithMe Introduces the World's First Smart, Interactive Retail Store - "Jonathan Jenkins, Founder and CEO of WithMe, created a "smart store" to bring the best of both offline and online shopping together under one roof, while creating personalized experiences for every shopper. The store itself is completely mobile, and designed to be mass-produced so they can be deployed across the US or shipped anywhere around the world."

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

November 06, 2015

Headline News from PaymentsNews.com - November 6, 2015

What I'm Reading

  • This weekend your editor will be reading Alexander Hamilton by Ron Chernow.
  • Hamilton, the hit musical by Lin-Manuel Miranda now on Broadway, was inspired by this 2004 biography Alexander Hamilton. From the book's description: "In the first full-length biography of Alexander Hamilton in decades, National Book Award winner Ron Chernow tells the riveting story of a man who overcame all odds to shape, inspire, and scandalize the newborn America."
  • How about you? What are you reading? Drop me a quick note and tell me about it: editor@paymentsnews.com

On the Web

  • The Uberization of Money - Wall St. Journal - "Over the next decade, the familiar 20th-century modes of banking and investing will give way to something very different. We are on the verge of the Uberization of finance, which will bring multiple new opportunities but also a range of new risks."
  • Discussion Paper Released: Exploring the Use of Anonymized Consumer Credit Information to Estimate Economic Conditions: An Application of Big Data - Federal Reserve Bank of Philadelphia - "The emergence of high-frequency administrative data and other big data offers an opportunity for improvements to economic forecasting models. This paper considers the potential advantages and limitations of using information contained in anonymized consumer credit reports for improving estimates of current and future economic conditions for various geographic areas and demographic markets."
  • Square Sets Conservative I.P.O. Price Range - New York Times - "Even at the high end of the range set by Square, the valuation would be $4.2 billion, representing a 30 percent discount to the $6 billion that Square was valued at privately."

On the Wires

  • U.S. Bank Introduces ScoreBoard, an Online Payment-Management Tool for Consumers - "Available through U.S. Bank internet banking, ScoreBoard features easy-to-read charts and graphs that provide a monthly snapshot of credit-card purchases and payments, such as travel, home improvement and gas purchases."
  • Former Borderfree CEO Michael DeSimone Appointed as ShopKeep’s New Chief Operating Officer - “Over the past year ShopKeep has grown exponentially and it’s important for us to be strategic about how we continue to operate and scale the company,” said ShopKeep CEO and President, Norm Merritt. “Mike’s extensive experience in operations, as well as his deep understanding of the market, will be incredibly important to us as we work to introduce new services that benefit our merchants. I am excited to work closely with Mike to chart ShopKeep’s continued path forward, and further our mission of helping small businesses take back Main Street.”

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

November 05, 2015

Headline News from PaymentsNews.com - November 5, 2015

On the Web

  • Distribution v Innovation - Alex Rampell - "This is the flaw with looking at Square and Stripe and calling them commodity players. They have the distribution. They have the engineering talent. They can build their own TiVo."
  • Jamie Dimon: Bitcoin Will Not Survive - CoinDesk - "This is my personal opinion, there will be no real, non-controlled currency in the world. There is no government that's going to put up with it for long ... there will be no currency that gets around government controls."
  • Uber is trying to lure new drivers by offering bank accounts - Quartz - "The plan, which is in its early stages, would allow drivers to easily register for a bank account or prepaid card when signing up to work for Uber..."

On the Wires

  • Walgreens First to Launch Loyalty Program Integration with Apple Pay - "Walgreens Balance® Rewards members can now seamlessly use their account through Apple Pay - without separately scanning a Balance Rewards card or barcode. More than 85 million active Balance Rewards members will have the ability to earn and redeem loyalty points via Apple Pay, the easy, secure and private way to pay."
  • ACI Worldwide Acquires Leading Global eCommerce Payments Solutions Provider, PAY.ON - "Based in Munich, Germany, PAY.ON delivers a white label global payment gateway solution to payment services providers (PSPs) and acquirers globally. PAY.ON’s solution features connectivity to more than 300 alternative payment methods and card acquirers in more than 160 countries."
  • Payoneer Selected by Amazon to Expand Cross-Border Payment Options in Select Countries - "In cooperation with Payoneer, Amazon now allows sellers to sign up for Payoneer directly from Amazon Seller Central. Upon Payoneer registration, sellers receive online accounts that can collect Amazon disbursements, and that provide access to these disbursements through local bank account withdrawal or through the use of a Payoneer MasterCard®. This alliance marks the first time that Amazon has expanded Seller Central cross-border payment capabilities through alliance with an external payment solution."
  • Federal Reserve Announces Sixth Triennial Study to Examine U.S. Payments Usage - "The 2016 Federal Reserve Payments Study consists of three complimentary survey efforts commissioned to estimate the number, dollar value and composition of retail noncash payments in the United States for calendar year 2015. The study will request full-year 2015 payments data for various payment types from respondents to two of the three survey components; the third component involves a random sampling of checks processed in 2015 to determine distribution of party, counterparty and purpose. Results from all three survey components will be used to estimate current trends in the use of payment instruments by U.S. consumers and businesses."
  • Wells Fargo Spurs Innovation with New Startup Accelerator Class - “Our Startup Accelerator expands our vision of the future of financial services beyond the boundaries of Wells Fargo and banking, introducing us to innovators who want to shape how our customers handle their financial needs in the future,” said Steve Ellis, head of Wells Fargo’s Innovation Group. "Our business and technology leaders work closely with accelerator members to test concepts, validate technologies, identify market opportunities, and guide them through the process of bringing their ideas to market.”
  • U.S. Bank FlexPerks Visa Customers Can Now Instantly Redeem Reward Points to Pay for Purchases - "Customers simply activate Real-Time Rewards, make a purchase with their FlexPerks Visa card, and respond to a text message to accept or decline a redemption offer. Accepted offers trigger a credit to the customer’s billing statement for the purchase amount and a deduction of FlexPoints from the customer’s point balance."

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

November 04, 2015

Headline News from PaymentsNews.com - November 4, 2015

On the Web

On the Wires

  • ACI Strengthens Board of Directors with Appointment of Payments Luminary - ACI Worldwide announced today the appointment of Janet Estep to its Board of Directors. Estep serves as president and CEO of NACHA - The Electronic Payments Association® that oversees the Automated Clearing House (ACH) Network.
  • Worldline and Equens Intend to Join Forces to Create the New Pan-European Leader in Payment Services - "Worldline and Equens consider this step as a major milestone in the consolidation of the European payments market. The strategic aim of the new entity is to be one of the leading and most innovative payment service providers for financial institutions and corporates in Europe."
  • Fast B2B Bill Payment: Entryless Releases Seamless Payments - "With the release of Entryless Seamless Payments, users have one application that automates bills from receiving to paying. Users can upload bills or receive them directly from suppliers. Entryless automates data entry, review and approval, then synchronizes bills with the accounting system. Entryless Seamless Payments allows users to then make payments in the same application as their bills are recorded. Synchronization with accounting software captures all activities in the business accounting system."
  • P97 Networks Helps Accelerate Mobile Commerce for Retail Fuels Market - “We are excited to accelerate the digital transformation of the fueling, parking and quick service restaurant industries by providing a marketplace to help simplify the merchant and consumer experience,” said Gil Perez, SVP IoT & Customer Innovation, General Manager Connected Vehicles at SAP. “SAP Vehicles Network harnesses the power of SAP HANA® Cloud Platform for the Internet of Things to offer a simpler and more secure set of cloud micro services to help app developers, merchants or automotive OEMs consume and generate new revenue streams.”

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

November 03, 2015

Headline News from PaymentsNews.com - November 3, 2015

On the Web

On the Wires

  • American Express and Airbnb Launch First-of-Its-Kind Booking Experience and American Express Loyalty Program Integration for Card Members - “We welcome millions of Amex Card Members to belong anywhere with Airbnb,” said Lex Bayer, Head of Global Payments and Business Development, Airbnb. “Whether staying at a bungalow in Bali with Membership Rewards points, or a business trip to London with your Amex Card, this partnership makes booking an Airbnb in over 190 countries seamless and allows Card Members to be verified with their American Express login within the trusted community of Airbnb.”
  • Fiserv and Early Warning Partner to Enable Real-Time Bill Payment and Real-Time Deposit Services for U.S. Financial Institutions - "The partnership between Fiserv and Early Warning brings together the leading provider of electronic bill payment and the leading provider of real-time deposit account verification and funds availability to enable broader consumer access to real-time services through their financial institutions. Combined, the Fiserv and Early Warning networks reach more than 6,000 banks and credit unions, including the 40 largest financial institutions in the U.S. and thousands of mid-size and community financial institutions, representing more than 75 percent of all deposit accounts in the U.S. The NOW Network from Fiserv also connects to tens of thousands of billers."
  • Intuit’s New Banking Integration Technology Can Make Accounting More Accurate and Seamless - “This new bank feeds technology is all about leveraging the power of our platform to save small businesses time by automating the process of entering data into QuickBooks,” said Avi Golan, vice president and general manager of the Intuit Developer Group. “We’re pleased to be working with American Express to enable American Express OPEN Card Members to be the first to benefit from this new technology. This is a great example of how our open platform approach allows us to partner with leading companies who can help small businesses be more efficient and effective.”
  • Fractals Delivers Intelligent Card and eBanking Fraud Detection for the Enterprise - "Fractals’ new eBanking channel brings the intelligent fraud detection functionality of Fractals to the internet and mobile banking space. As well as monitoring financial transactions, such as payments and transfers, Fractals also monitors non-financial transactions, including login attempts, changes of personal data and creation of new recipients which might indicate fraud on an account."
  • MasterCard Names Craig Vosburg, President, North America Markets, Succeeding Chris McWilton - "Vosburg, 48, was most recently the company’s chief product officer, a role he held since April 1, 2014. In this role, he led the development, commercialization and management of the company’s global Core Products offerings which include consumer credit and debit, commercial, prepaid and loyalty solutions."
  • Catherine Moore named President for Commerce Solutions, Europe, for J.P. Morgan - “Catherine is an outstanding leader and an experienced manager whose wealth of knowledge and insight into the payments industry and this region will be invaluable in our drive to boost our current market position, enable our clients to grow, and make the most of new business opportunities throughout Europe,” said Michael K. Passilla, CEO for Chase Commerce Solutions.

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

November 02, 2015

Visa Inc. to Acquire Visa Europe

Visa 2014 logo 140x60Visa Inc. and Visa Europe Ltd. have announced a definitive agreement for Visa Inc. to acquire Visa Europe.

The transaction consists of upfront consideration of €16.5 billion with the potential for an additional earn-out of up to €4.7 billion payable following the fourth anniversary of closing, for a total value of up to €21.2 billion. The upfront consideration comprises €11.5 billion of cash and preferred stock convertible into Visa Inc. class A common stock valued at €5 billion. Both companies’ boards were unanimous in their support of the transaction. The transaction is subject to regulatory approvals and is expected to close in Visa Inc.’s fiscal third quarter of 2016.

“We are very excited about unifying Visa into a single global company with unmatched scale, technology and services,” said Charles W. Scharf, chief executive officer, Visa Inc. “This transaction is beneficial for financial institutions, acquirers, merchants, cardholders, and other partners, as well as for our employees and shareholders. The Visa Europe team has done a tremendous job building a leading payments system that is trusted and respected across Europe, and together we will bring the power of electronic payments to more people, in more places, than ever before.”

“Visa is a great global brand with a proud history and exciting future. Visa Europe has delivered impressive results over recent years and the Board believes that it is the right time to reunite these two very healthy businesses under common management. The deal will unlock significant value for members both through the consideration paid and because the Board believes a combined Visa will be better positioned to serve the needs of customers going forward. We are confident that Visa Inc. is committed to long term investment and development of the European business,” said Gary Hoffman, Chairman of the Visa Europe Board.

In discussing integration plans, Scharf commented, “We look forward to the new integrated Visa, and we are fully committed to ensuring our efforts in Europe are tailored to meet local market needs. This includes being responsive to the evolving regulatory landscape, maintaining a European data center, and partnering with Europe’s growing payments ecosystem to co-develop locally-relevant products, services and experiences. This combination strengthens our payments system in Europe, as together we have even greater financial resources to invest in technology assets. Finally, we will continue to have a strong local management team in Europe, with London remaining as headquarters for the region.”

Headline News from PaymentsNews.com - November 2, 2015

On the Web

  • Will NACHA's Same-Day ACH Rules Change Be an Exception-Only Service, At Least in the Short Term? - Take on Payments Blog - "Given these compromises, what do you think financial institutions can do to accelerate broader adoption of same-day?"
  • The great chain of being sure about things - Economist - "The advent of distributed ledgers opens up an “entirely new quadrant of possibilities”, in the words of Albert Wenger of USV, a New York venture firm that has invested in startups such as OpenBazaar, a middleman-free peer-to-peer marketplace. But for all that the blockchain is open and exciting, sceptics argue that its security may yet be fallible and its procedures may not scale. What works for bitcoin and a few niche applications may be unable to support thousands of different services with millions of users."
  • Are Bitcoin and the Blockchain Joined At The Hip? - AVC.com (Fred Wilson) - "Obviously Bitcoin could become “nothing more than a curiosity” if all the action moves to other blockchains. But right now the Bitcoin blockchain has an order of magnitude more hashing power and market cap, so we are certainly not seeing any other blockchains developing the kind of network effects that Bitcoin has."
  • Things I Think I Know About Blockchains, Public and Private - Medium (Ryan Shea) - "The Bitcoin blockchain is currently the strongest and most secure blockchain by far, so it just makes sense to build on top of it. This may change over time, but for now the Bitcoin blockchain reigns supreme."
  • Amazon Shutting Down Its ‘Register’ Credit Card Processor - New York Times - "Much like competing products from Square and PayPal, the idea was to bring payments processing to businesses that did not previously offer it. That plan did not work out. Amazon stopped offering the device to new merchants as of Friday evening, and it will stop supporting Amazon Register by February."

On the Wires

  • Visa Inc. Reports Strong Fiscal Fourth Quarter Adjusted Earnings Per Share Growth of 14% - "Visa’s fiscal fourth quarter was a strong finish to an equally strong fiscal full-year 2015 in terms of revenue and earnings per share growth in the face of a continued challenging global economic environment. The underlying growth of our franchise continued as evidenced by our strong payments volumes as well as new and renewed partnerships during the year. Most importantly, we continued to build our capabilities at the physical point-of-sale as well as in the digital space,” said Charlie Scharf, Chief Executive Officer of Visa Inc. “Although fiscal 2016 reported growth rates will be negatively impacted by a strong US dollar and an uneven global economy, we are well positioned for strong success in 2017 and well beyond.”

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

October 30, 2015

Headline News from PaymentsNews.com - October 30, 2015

What I'm Reading

  • This weekend your editor will be reading If You Really Want to Change the World: A Guide to Creating, Building, and Sustaining Breakthrough Ventures by Henry Kressel and Norman Winarsky. From the book's description: "Drawing on the authors’ experiences as well as those of their partners from around the world, Kressel and Winarsky share the stories of their triumphs and misses, demonstrate their method in action, and inspire their readers in the process. There are more opportunities now than ever before to build breakthrough companies that touch millions of lives. If this is your goal, let this book be your guide to creating world-changing ventures."
  • How about you? What are you reading? Drop me a quick note and tell me about it: editor@paymentsnews.com

On the Web

  • Visa Nears $22 Billion Deal to Buy European Counterpart - "The Foster City, Calif.-based payments network is in advanced negotiations to buy its European counterpart—Visa Europe—for about $22 billion in a deal that would unite Visa’s global operations under one roof, according to people familiar with the matter."
  • Heartland CEO: Blockchain Could Power Trillions in Bank Transactions - "It seems to me that the play is for banks [to use blockchain] to settle between themselves. There’s trillions in very high-end transactions going back and forth across borders between businesses," he said, adding without any real vigor: "That might be the breakthrough."
  • Fidelity Launches Fidelity App for Apple TV - "Starting today, the Fidelity App for Apple TV® is available on the all-new Apple TV, giving investors a new, convenient way to keep tabs on the markets and generate investing ideas. Fidelity is one of the first brokerage firms to offer an app for Apple TV, which owners of the new Apple TV can download on the App Store for Apple TV. Users can navigate the Apple TV app with its Siri Remote to display a variety of market data."

On the Wires

  • MCX CEO Brian Mooney Discusses New Partnership with Chase to Enhance CurrentC™ for Consumers - "Discussing MCX’s progress in bringing CurrentC™ to market, including its ongoing public beta, Mooney noted that the company continues to gather valuable insights from Columbus consumers, who can use the platform at more than 200 participating retail locations, including local CVS/pharmacy, Exxon, Giant Eagle and Giant Eagle Market District, Kmart, Mobil, Sam’s Club, Sears, Target, Walmart and Wendy’s locations. The beta will soon expand to include select local Shell fuel stations."
  • Heartland Acquires Digital Dining - "Headquartered in Springfield, Virginia, Digital Dining offers restaurants the convenience of a handheld POS on an iPad, iPhone, iPod and iPad Mini in a hybrid environment with conventional fixed terminals. Digital Dining is also used by restaurateurs for table management, delivery, reservations, labor scheduling, inventory and loyalty programs."
  • UnionPay International Launches mPOS Service in Pakistan - "This is an important progress of UnionPay International aiming at promoting innovative payment solutions in markets where the payment industry is still at an early stage of development. The Mobile POS solution, characterized with lost cost and high security features, will enable more small and medium businesses in Pakistan to accept UnionPay cards, and will expand use scenarios of UnionPay cards by local residents and business travelers to Pakistan."

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

October 29, 2015

Headline News from PaymentsNews.com - October 29, 2015

On the Web

On the Wires

  • MasterCard Incorporated Reports Third-Quarter 2015 Financial Results - “We are pleased with the results we delivered this quarter, in spite of the ongoing uncertainty in the global economy. We continue to see double-digit growth in both volume and transactions in most of our regions around the world,” said Ajay Banga, president and CEO, MasterCard. “As the world becomes more digitally driven, our innovations and investments in things such as MasterPass, EMV and biometrics are helping to redefine the way people shop and pay with convenience and security.”
  • OmnyPay Unveils Omni-Channel Mobile Payments Solution Aimed at Retailers - "“This is a game-changer for retailers that goes way beyond anything currently on the market,” said Ashok Narasimhan, co-founder and CEO of OmnyPay. “Not only does OmnyPay’s solution allow seamless integration of all things related to loyalty, rewards, and promotions, it also works across all iOS and Android devices, and across all shopping channels."
  • JCB International Opens Silicon Valley Office - Jun-ichi Minowa, Executive Vice President, Business Design & Development of JCB commented, "Our new Silicon Valley office will enable us to incorporate the latest technology and develop new services in cooperation with enterprises in America and strengthen our existing business".

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

October 28, 2015

Headline News from PaymentsNews.com - October 28, 2015

On the Web

  • MasterCard, CIBC and New York Life Join DCG Funding Round - CoinDesk - "Payments giant MasterCard has been named as one of 11 investors in Digital Currency Group's (DCG) new funding round."
  • Razorpay on a mission to simplify online payments in India - Entrepreneur India - “We are building the next generation payments infrastructure which will accelerate the future e-commerce growth in India. Our patented technology will greatly help in achieving higher transaction success rates and faster checkout time especially on mobile devices while making payment gateway integration as easy as embedding a few lines of code."
  • JPMorgan Chase Is Crushing It in Payments - Motley Fool - "The payments industry is changing rapidly, and, at least for now, it appears JPMorgan has a huge leg up on the competition."

On the Wires

  • PayPal Reports Strong Third Quarter Results - “PayPal is entirely focused on digital payments and transforming money for people around the world. This clear focus and our strong value proposition allowed us to deliver strong financial results in the third quarter,” said Dan Schulman, President and CEO of PayPal. “We are operating in a time when change is sweeping through the financial services industry driven by the rise of mobile technology and the acceleration of money becoming digital. These two massive trends play directly to our strengths and we are leveraging this transformation to extend and accelerate our lead.”
  • American Express Will Bring Apple Pay to Card Members in Key Global Markets - "Apple Pay is expected to be available for Card Members in Canada and Australia this year and in Spain, Singapore and Hong Kong in 2016. With Apple Pay, Card Members in these countries will have the ability to seamlessly add their eligible consumer, small business and corporate American Express® Cards(i) and pay with iPhone or Apple Watch in stores where contactless payments and American Express are accepted."
  • Chase and P97 Enable Mobile Payments for Retail Fuel and Convenient Stores"“With the combination of P97’s PetroZone® mobile commerce platform and Chase Pay we are thrilled to deliver more payment options to consumers at the pump,” said Donald Frieden, President and CEO of P97. “We are confident this combined solution will deliver an innovative mobile payment experience for the retail fuels market customer.”
  • UberRUSH Joins First Data’s Clover® App Market to Simplify On-Demand Delivery Service for Small Businesses"With just a click business owners can set pick-ups and track deliveries directly from their Clover device. In minutes, an UberRUSH delivery partner will pick up the purchased goods from the business and deliver them directly to the customer."
  • Wells Fargo Eliminates Foreign Transaction Fees for Small Business Credit Cards, Lines of Credit - "In a move that will help reduce expenses for U.S. small businesses that are doing business internationally, Wells Fargo today announced it has removed its foreign transaction fees on all business credit card and business line of credit access card transactions made outside the U.S. effective October 1. With this change, Wells Fargo is the only major U.S. bank that today does not charge a foreign transaction fee on all of its small business credit cards."
  • Synchronoss Forms New Venture to Develop Advanced Secure Mobility Solutions Leveraging Technology Contributed by Goldman Sachs - “While some companies have addressed the security of mobile devices at a basic data-loss-prevention level, the biggest challenge facing enterprises is enabling individuals to have a more productive mobile experience at a lower level of risk,” said Dave Schuette, Executive Vice President and President of Synchronoss’ newly created Enterprise Business Unit. “Synchronoss, building off of the technology developed by Goldman Sachs, is extending deeper into the enterprise to bridge this gap and solve the inherent complexity of mobile security by providing a comprehensive mobile framework.”

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

October 27, 2015

Headline News from PaymentsNews.com - October 27, 2015

On the Web

On the Wires

  • MasterCard and Cardlytics Partner to Deliver an Integrated Card-Linked Loyalty Program for Banks of All Sizes - "MasterCard and Cardlytics today announced an agreement to deliver targeted card-linked services to US banks of all sizes. The new partnership will match Cardlytics card-linked marketing solutions and advertising expertise with MasterCard’s bank partners and its offers and rewards platform to deliver a solution that is unsurpassed in the loyalty business."
  • FIS and The Clearing House Team to Execute a Ubiquitous Real-Time Payment System for the U.S. - "As a global leader in the payments industry, we are proud to join this critical initiative to deliver a game changing real-time payments ecosystem to the U.S. marketplace,” said Nancy Langer, chief product officer, FIS. “We have long invested in delivering real-time money movement capabilities to our clients and view this partnership as an extension of our strategy to disrupt the status quo and empower our clients through new payment paradigms.”
  • Affirm Announces Omnichannel Installment Payment Products for Telesales and Physical Stores - “Our new telesales and in-store payment products help strengthen Affirm’s omnichannel presence,” said Levchin. “Installments are much more than just a way to defer payment temporarily. We now have sufficient data that shows they help merchants boost sales and help consumers, who may not have credit cards or choose not to use them, pay for their online and in-store purchases in a way that best matches their monthly budgets.”
  • Marqeta Adds Leading FinTech and Commerce Brands to Its Payment Innovation Platform; Closes $25 Million Series C Round - "Today, at Money20/20 2015, Marqeta, the Open API issuer processor platform, announced a host of new marquee customers, including Affirm, DoorDash, HyperWallet and Kabbage, alongside known customers such as Facebook, Bento for Business and Perk. Marqeta also confirmed closing a $25 million Series C round."
  • InAuth Launches Game-Changing Device Reputation Network, InExchange - “This is a definite game-changer in the industry”, said InAuth CEO, Lisa Stanton. “Our ability to utilize device identification technology to create a network that enables protection from even the first instance of fraud is unique to only InAuth. Participating in InExchange is a win-win for both consumers and businesses. Consumers want to be able to do more with their mobile without any unnecessary friction, and businesses want to protect their brand and bottom line from fraud losses.”
  • Samsung Pay Advantage Significantly Expands Mobile Payment Merchant Acceptance and Drives Consumer Adoption - "After one month, the numbers say it all: Consumers who have used Samsung Pay are using it repeatedly because it works almost anywhere you can swipe or tap a card," said Thomas Ko, global co-general manager of Samsung Pay. “We’re thrilled to introduce new partners that will build on our early success, and move us even closer to a world in which your mobile phone is a true mobile wallet."
  • Blackhawk Network Announces Partnership to Integrate Gift Cards Into Samsung Pay - "We are thrilled to complement Samsung Pay's groundbreaking mobile payment technology with the upcoming integration of gift cards into the application," said Talbott Roche, president of Blackhawk Network. "Consumers often have several gift cards at any given time, and the ability to integrate them into a single mobile payment solution, coupled with Samsung Pay's unique MST technology allowing for convenient redemption, is expected to provide a value add to Samsung Pay users."
  • BlockCypher Assets API Enables Any Asset on the Blockchain in Only One Step - "With one simple API call, an organization can now issue any asset as custom digital tokens (colored coins) and transfer them securely using the blockchain. “Colored coins” is a term that describes a class of methods for representing and managing real-world assets on the blockchain."
  • FIS Helps Accelerate Acceptance of Mobile Payments at the Pump - "FIS today announced a technology agreement with SAP (NYSE: SAP), in which FIS will integrate the FIS Mobile Payment Enablement Gateway solution with SAP® Vehicles Network running on SAP HANA® Cloud Platform."
  • New GSMA Report Sees North America Leading Global Adoption of New Mobile Technologies - “The North American mobile industry has been the strongest performing of any developed region globally for some time, characterised by substantial subscriber growth, the early adoption of new technologies, high levels of mobile usage and strong revenue trends,” said Michael O’Hara, Chief Marketing Officer, GSMA.

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