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

November 17, 2016

Headline News from PaymentsNews.com - November 17, 2016

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

ON THE WEB

  • Visa’s EMV Debit Routing Practices Attract the Attention of the FTC And the Fed - Digital Transactions News - "The Federal Trade Commission is investigating Visa Inc.’s practices involving EMV debit card transaction routing, Visa disclosed Tuesday. And the Federal Reserve earlier this month posted guidance about EMV debit routing that, according to retailer trade groups, was issued in response to their objections to Visa’s practices at the point of sale."
  • Android Pay launches in Poland - NFC World - "Android Pay has begun rolling out across Poland, allowing consumers with compatible devices to make payments at more than 400,000 retail locations in the country that accept contactless payments. The service launches with support from Mastercard and Visa along with Alior Bank, Bank Zachodni WBK and T-Mobile Banking Services."
  • Chinese IoT Firm Siphoned Text Messages, Call Records - Krebs on Security - "A Chinese technology firm has been siphoning text messages and call records from cheap Android-based mobile smart phones and secretly sending the data to servers in China, researchers revealed this week. The revelations came the same day the White House and the U.S. Department of Homeland Security issued sweeping guidelines aimed at building security into Internet-connected devices, and just hours before a key congressional panel sought recommendations from industry in regulating basic security standards for so-called “Internet of Things” (IoT) devices."

ON THE WIRES

  • Retailers Demand Details from Visa on Response to Fed Rule Violations - "Today, merchant associations representing tens of thousands of U.S. merchants sent a letter to Visa CEO Charles W. Scharf and CEO-Designate Al Kelly in response to a declaration by the Federal Reserve that the technical specifications and rules provided to merchants as part of the EMV migration violate federal law. The letter, addresses the November 2nd declaration made by the Federal Reserve that no payment card network can directly or indirectly force retailers to deploy a technology or enforce a rule that inhibits merchant routing choice, and that any technical specifications that inhibit merchant routing choice do not comply with current regulation. Just this week, Visa disclosed that the Federal Trade Commission was investigating Visa's rules related to routing."
  • Canadian Payment Methods and Trends Report finds cash is king, for now - "The Canadian Payment Methods and Trends (CPMT) report released today shows that cash and other paper transactions, such as cheques, are still leading, but in Canada new payment channels are a growing share of the market. These trends reinforce the need for Canada to adapt its systems as the global payments ecosystem changes, which is what Payments Canada is doing with its Modernization Initiative."
  • CanPay Debuts First Debit Payment Solution For The Cannabis Industry - "To ensure privacy and security, all purchases are made using non-identifiable, single-use, and random payment tokens generated in the CanPay App. A consumer who wants to pay with CanPay simply downloads the CanPay App to their smart phone from www.CanPayApp.com, creates a CanPay account and links their checking account, and, upon approval, can begin paying at any participating retailer. The consumer logs into their CanPay app at the time of purchase and scans the random token into the retailer's point of sale device. Funds are electronically transferred directly from the consumer's checking account to the retailer's compliant bank account."
  • ENOUGH IS ENOUGH: NEW DATA SHOWS CONSUMERS WANT GOVERNMENT OUT OF PAYMENTS - "More than six in ten consumers think the Durbin Amendment should be repealed if merchants are not passing the savings on to consumers. A study by the Federal Reserve confirms that merchants are not handing over the savings they receive from the Durbin Amendment. Instead they are pocketing six to eight billion dollars every year since the regulation was implemented—all of which should have been passed along to customers in the form of lower prices."
  • LendingTree Acquires CompareCards - "LendingTree, Inc. (NASDAQ: TREE) announced today that it has acquired Iron Horse Holdings, LLC, which does business under the name CompareCards. CompareCards is a leading online source for side-by-side credit card comparison, comprehensive credit education and credit health management. CompareCards provides consumers with one centralized location for pertinent credit card information needed to find the best card for their needs."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

November 16, 2016

Headline News from PaymentsNews.com - November 16, 2016

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

ON THE WEB

  • GOP, Business Groups Launch Campaign to Constrain CFPB - Wall Street Journal - "Republican lawmakers and business groups are crafting plans to rein in the federal government’s consumer-finance watchdog in the wake of Donald Trump’s presidential victory."
  • Blockchain Capital Dries Up as Big FinTech Deals Decline - Coindesk - "Cash is drying up for bitcoin and blockchain startups amid a broader decline in FinTech funding, according to new research from KPMG and CB Insights. The report, published today, shows that for the third straight quarter, VC investment in startups using distributed ledgers declined."
  • Singapore to Test Digital Currency in Latest Fintech Initiative - Bloomberg - "The “proof-of-concept” project, which also involves the city’s stock exchange and eight banks, is aimed at simplifying the payments process and reducing transaction costs, Managing Director Ravi Menon said in a speech Wednesday. It may include cross-border transactions with the participation of another central bank in the future, he said."
  • UK bank celebrates blockchain contactless payments trial - NFC World - "Metro Bank in the UK has successfully trialled a blockchain retail payment system, allowing consumers to make purchases from merchants equipped with contactless terminals, with merchant and consumer balances updated in real time."
  • EXPLORE: Ecobank Mastercard RBL Bank RBL Bank brings Masterpass QR mobile payments to India - NFC World - "Customers of India’s RBL Bank can now make QR code-based mobile payments using Mastercard’s Masterpass QR mobile payments solution, which has been integrated as a payment option within the bank’s OnGo mobile wallet."
  • Change Coming to Prepaid: Part I - FIS payments blog - "From card makers to processors, any company touching the open-loop prepaid industry will be affected by the recent final ruling by the Consumer Financial Protection Bureau (CFPB), which will take effect on Oct. 1, 2017."

ON THE WIRES

  • Societe Generale Launches a Next-Generation Card Integrating a Dynamic Security Code - "This innovative solution, OT MOTION CODETM, developed by Oberthur Technologies2, consists in replacing the 3-digit security code usually printed on the back of the card with a mini-screen displaying a new "dynamic" code which is refreshed automatically and randomly every hour3. Thus, if the card data gets stolen, the 3-digit security code becomes useless within an hour, preventing fraudsters from re-using the information on e-commerce sites. Designed to help fight cyber crime, this solution is also very simple as it changes nothing on the online purchasing process."
  • VirtusaPolaris Announces Launch of its OpenBank API Accelerator to Advance Financial Technology Innovation - "VirtusaPolaris, the market-facing brand of Virtusa Corporation and Polaris Consulting & Services, Ltd., a leading worldwide provider of information technology (IT) consulting and outsourcing services, today announced the launch of the VirtusaPolaris OpenBank API Accelerator at the inaugural Singapore FinTech Festival. Addressing the market need for rapidly developing solutions for API banking, the OpenBank API Accelerator provides financial services and banking organizations with the tools they need to create new product propositions, add digital-native capabilities, and build new business models, as well as partner with FinTech firms more efficiently and effectively."
  • AGS Transact Technologies Introduces Universal Payments Capabilities to India in Partnership with ACI Worldwide - "AGS Transact Technologies Limited, India’s leading end-to-end payment solutions provider for the banking, retail and petroleum sectors, today announced a strategic alliance with ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions. This alliance will bring ACI’s Universal Payments capabilities to the Indian market via a comprehensive cloud-based managed services offering that integrates cross-channel payments, fraud prevention and transaction management capabilities."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

November 15, 2016

Headline News from PaymentsNews.com - November 15, 2016

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

ON THE WEB

  • Apple’s NFC restriction hits mobile payments innovation, Australian banks claim - NFC World - "The group of Australian banks taking on Apple over access to the NFC technology within iPhone handsets says the restriction is not only preventing the introduction of mobile wallet services across multiple platforms but also proving detrimental to continued investment into mobile payment apps."
  • Apple Pay now lets nonprofits take donations - TechCrunch - "Apple announced this morning that its payments service Apple Pay will now support the ability to make donations to nonprofits, starting today in the U.S. This includes both Apple Pay on the web, where it can be integrated into websites’ checkout flow, as well as within mobile applications. The changes are rolling out just ahead of the holidays, something participating nonprofits hope will have a big impact on their ability to raise funds during this time of increased charitable giving."
  • Paytm hits record 5 mn transactions a day - Business Standard - "Following the ban on Rs 500 and Rs 1,000 notes, mobile wallets, debit and credit cards, online money transfers have seen a rise of 200%, industry experts have observed. According to senior executives at Paytm, the Vijay Shekhar Sharma-led company would be able to close the financial year with Rs 24,000 crore worth of transactions processed on the platform."
  • The Nigeria Inter-Bank Settlement System, the Central Bank of Nigeria, Banks and Telecommunication Deepen Financial Inclusion with mCASH - Payments Afrika - "As part of the renewed efforts to further drive the financial inclusion mandates of the Central Bank of Nigeria (CBN), NIBSS in collaboration with Banks and the leading Telecommunications companies have launched mCASH. This is an innovative solution designed to facilitate low-value retail payments, grow e-payments by providing accessible electronic channels to a wider range of users and to further enhance financial inclusion in Nigeria by extending e-payment benefits to Payers and Merchants at the bottom of the pyramid where usage of cash has been predominant."

ON THE WIRES

  • Samsung Pay Announces ‘Samsung Rewards’ Program, First-of-its-Kind Incentives System for a Digital Wallet - "Continuing to drive innovation in the digital wallet experience, the Samsung Pay service today announced a first-of-its-kind incentives program for a mobile payments platform in the U.S.: the “Samsung Rewards” program, coming this week to Samsung Pay. For every transaction users conduct with Samsung Pay, enrollees in Samsung Rewards will earn points, which can eventually be redeemed for a variety of items, including gift cards to some of nation’s most popular retailers, prepaid Samsung Rewards Visa® gift cards, Samsung products and more."
  • US Payments Forum launches new mobile and contactless payments effort - "The U.S. Payments Forum has announced the Mobile and Contactless Payments Working Committee to explore these opportunities and challenges, identify possible approaches, and develop practical implementation guidance and best practices for the variety mobile and contactless payments solutions being implemented in the US."
  • Warply Engage Marketing Cloud With New Product Features, Including Mobile Payments & Mobile Couponing - "Warply is launching its m-couponing and mobile payments add-ons, that provide credit transfer (SEPA) and card payments, in an effort to put its marketing and analytics stack within the last mile of the customer journey. Warply emphasizes on seamless customer experiences at the physical or digital point of sales, with benefits and payments being an essential part of a convenient customer check out process."
  • ProfitStars Introduces RemitPlus Express for Simplified Remittance Processing - "Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its ProfitStars® division today announced a fully hosted version of its proven remittance solution, RemitPlus® Express™."
  • linked2pay Adds Real-Time Payments to Bank Centric Payments - "linked2pay, an award-winning banking and payments technology provider, and Push Payments, a real-time payments platform provider announced today that real-time payments are now an option on the Bank Centric Payments platform. This enables partners on the bank integrated platform to offer both Real-Time and ACH payments, including same day, as their own fully integrated, white-labeled solution."
  • Shift4 is Integrating to the Oracle Payment Interface - "Payment gateway provider Shift4 Corporation today announced that they are writing to the Oracle Payment Interface (OPI), providing fast, secure and reliable payment processing to thousands of merchants who use Oracle's point-of-sale and property management solutions."
  • PayZang announces the launch of a new payment portal featuring new services for SAAS companies and other industries. PayZang also offers a new payment API developed to enhance and improve business finance. - "The new technology offered by PayZang improves the efficiency and overall performance of all businesses. Additionally, the growing SAAS industry now has a valuable opportunity to collaborate with a merchant services provider equipped to handle its unique needs in today's changing commercial landscape. The new API eliminates the need for SAAS and other merchants to become fluent in "geek speak" by providing an advanced technological platform that is user-friendly and easy to implement."
  • Blackhawk Network and Giant Eagle Offer Tips to Make the Most Out of Gift Cards - "Gift cards have been the most requested holiday gift for 10 straight years, according to a recent study by the National Retail Federation[1]. Additionally, a September study by Blackhawk[2]—a pioneer of gift cards, payment tools and rewards delivered via a robust and convenient network—found that the majority of people surveyed (89 percent) plan to purchase at least one gift card this winter and agree that gift cards are easier to purchase than traditional holiday gifts."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

November 14, 2016

Headline News from PaymentsNews.com - November 14, 2016

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

ON THE WEB

  • Visa and BioConnect work to enable multiple biometrics on mobile apps - NFC World - "Visa is working with biometric identity platform provider BioConnect to enable multiple methods of biometric authentication through a single mobile app. This means that if the consumer’s default biometric authentication method fails, they can use an alternative biometric method to gain access to their device or service."
  • Citi joins mobile pay as consumer adoption reaches highpoint - Mobile Commerce Daily - "Mobile pay is expected to increase at an 80 percent compounded rate annually by 2020, which has prompted a slew of financial institutions, technology providers and retailers to create their own platforms. Citi is the latest to join in the hopes to appeal to consumers who are interested in the convenience and not lag behind with its mobile pay platform that allows users to pay on apps, Web sites and Android users to pay in store."
  • Australia Should Scrap Big-Denomination Bank Notes, UBS Says - Bloomberg - "In Australia, 92 percent of all currency by value is in A$50 ($38) and A$100 notes, the larger of which is “rarely seen,” according to the UBS report. Removing bigger denominations would boost digital payments in a country where the use of cash payments is continuing to fall, the analysts wrote. "
  • A 10-Digit Key Code to Your Private Life: Your Cellphone Number - New York Times - "The cellphone number is more than just a bunch of digits. It is increasingly used as a link to private information maintained by all sorts of companies, including money lenders and social networks. It can be used to monitor and predict what you buy, look for online or even watch on television."

ON THE WIRES

  • US Payments Forum Launches New Mobile and Contactless Payments Effort Under Broadened Payment Focus - "This new working committee comes as part of the U.S. Payments Forum’s expanded priorities to address a variety of new and emerging payments technologies that protect the security of, and enhance opportunities for, payment transactions within the U.S. In addition to contactless and mobile payments and the ongoing migration to chip technology, some of the other topic areas the Forum plans to address include tokenization, card-not-present security solutions, and encryption."
  • Experian's evolution of trended data goes beyond credit scores to predict risk and future financial behavior - "The value in trended data is a combination of the right type of data sources and solutions which interpret what the data reveals. Extended Trade's unique capability is to uncover granular data and provide strategic actions for lenders on how and what to market to consumers. Understand how a consumer spends, their current estimated interest rates, potential profitability and the number of months remaining on their loan term for each trade. This unique data and technology allow lenders to offer consumers the right financial products based on their needs and behaviors."
  • Mobey Forum: Is the Customer Now the Weakest Link in Risk Evaluation of Mobile Financial Services? - "The Risk Review: Mobey Forum’s Guide to Risk Management in Mobile Financial Services contends that, in addition to device and software vulnerabilities, banks must pay particularly close attention to the high risks associated with the criminal targeting of end-users, through social engineering and phishing, for example, together with fraudulent impersonation of customers during the enrollment and installation of new apps and services."
  • Global Payments and American Express Announce Agreement for Processing and Servicing Solutions in the UK - "Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology services, and American Express today announced an agreement that will enable Global Payments to provide enhanced payment acceptance solutions to American Express small merchants in the UK. These technology solutions include payment processing, settlement, reporting, support and statementing services on behalf of American Express."
  • Vesca to be First Out in Japan with Verifone Engage Offering Enhanced Payment Services and Solutions to Merchants - "While a cash-based economy in which cards and other forms of payment amount to comparatively little volume, the local EMV liability shift deadline and the Olympic Games Tokyo coincide in 2020 giving Japanese merchants the opportunity to install the capability to accept multiple payment forms. To bring enhanced world payment standards to Japan, Vesca will offer the Verifone Engage V200c countertop and P400 PIN pad to provide increased speed and security, and an interactive user interface. These devices meet Japan’s EMV requirements and enable merchants to personalize the customer shopping experience with targeted offers and loyalty programs for additional revenue streams at the point of sale (POS)."
  • Bank of the West Announces New Unlimited Cash Back Mastercard with No Annual Fee - "Cardholders Earn 3% Cash Back on Dining, Groceries and Gas; 1% Cash Back on All Other Purchases; Save with Automatic Cash Back Rewards Applied to Statement Each Quarter"

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

November 11, 2016

Headline News from PaymentsNews.com - November 11, 2016

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

ON THE WEB

  • Deutsche Bank: Capital Markets Expect Blockchain Impact Within 6 Years - Coindesk - "Three out of four capital markets participants now believe distributed ledger tech will see widespread use within the next six years, according to a new Deutsche Bank report."
  • Introducing Messenger Platform v1.3 and New Ways to Drive the Conversation - Facebook developer blog - "We are introducing a payments update that will allow businesses who are not integrated with Stripe/Paypal to process payments within both messages and webview. When a user makes a payment, Facebook will send the business single-use, tokenized credentials, which will allow them to integrate with their preferred payment provider. It also allows developers who manage multiple bots to integrate payments without requiring additional setup for each bot that they manage. This feature continues to roll out in a closed beta."
  • Majority of Digital Users in U.S. and China Regularly Shop and Purchase via E-Commerce - IAB - "When it comes to making a purchase, American shoppers are much more likely to use a credit or debit card (63% U.S. vs. 34% China on computer; 37% U.S. vs. 6% China on mobile). In China, payment is much more likely to take place via a digital payment service like PayPal or WePay (47% China vs. 15% U.S. on computer; 36% China vs. 17% U.S. on mobile) or a mobile wallet service like Apple Pay (21% China vs. 2% U.S.)."
  • Report: Airports Could Be the Next Big Beacon Hubs - Street Fight - "“In order for an app to communicate [with a beacon, one’s] Bluetooth needs to be turned on, which has been an obstacle [for the widespread adoption of beacon technology],” said Walle, adding that this obstacle appears to be dying out. “A few years ago an average of 30 percent of users had Bluetooth turned on, now it’s at 50 percent.”"
  • UK Government Embraces FIDO in Formal Digital Security Strategy - Find Biometrics - "The UK government is deepening its commitment to the FIDO Alliance’s authentication standards. It has just laid out its UK National Cyber Security Strategy in an 84-page document, and adherence to FIDO is an important component, observes the FIDO Alliance’s Brett McDowell in a new post on the Alliance’s website."
  • Where Do Consumers Still Need Biometric Authentication? - Mobile ID World - "But the personal computer is far from the final frontier for consumer biometrics. Anywhere that convenience is desired and strong security is needed, biometrics can be applied to make life easier and safer for consumers."
  • Fooling Facial Recognition Systems - Schneier on Security - "This is some interesting research. You can fool facial recognition systems by wearing glasses printed with elements of other peoples' faces."
  • A short history of 150 years of paper currency in India - Quartz - "Until the 18th century, silver and gold coins were commonly used in India. But as private European trading companies established their own banks in the region, such as the Bank of Hindostan in Calcutta, they began issuing the very first versions of Indian paper notes, which were initially just text-based."

ON THE WIRES

  • Vantiv Announces Agreement to Acquire Moneris Solutions USA - "Vantiv, Inc. (NYSE: VNTV), a leading provider of payment processing services and related technology solutions, announced today its agreement to acquire Moneris Solutions, Inc. (Moneris USA) from Moneris Solutions Corporation (Moneris) for $425 million USD, subject to certain adjustments. Schaumburg, IL-based Moneris USA is the U.S. subsidiary of Moneris, which is a joint investment between BMO Financial Group and Royal Bank of Canada (RBC)."
  • AirPlus and Airbnb to Integrate Booking and Payment Solution - "The companies are working on an integrated payment process so that the traveler will be able to book accommodation on Airbnb and automatically centrally bill the corporate account. Travel managers can ensure optimal transparency and perform data analysis with additional information such as cost center, project or employee number."
  • Flywire Expands Cross-Border Tuition Payment Service in Australia - "Flywire, a leading provider of cross-border payment solutions, has expanded in Australia, opening a new office in Sydney to support its local operations. The move builds on Flywire’s existing Asia-Pacific presence in Shanghai, China, Singapore and Tokyo, and strong growth worldwide."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

  • Scott Loftesness, a Glenbrook founding partner, formally retired October 31. Read Carol Coye Benson's Payments Views post about our co-founder's impact on the industry and on Glenbrook. If you know Scott, too, leave a comment!
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Among other positions, we're looking for an East Coast engagement manger. Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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, 2016

Headline News from PaymentsNews.com - November 10, 2016

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

ON THE WEB

  • Siri can now send money via PayPal - TechCrunch - "PayPal users can now send and request payments using simple voice commands via Siri on iOS 10 on iPhone and iPad. The online payments company is making the new feature available to users in 30 countries, and in a number of languages, and it requires only that the iOS app be installed with a logged in user account."
  • Toast lands $1.5M for cross-border payment services for migrant workers in Asia - TechCrunch - "Fintech is blowing up in Southeast Asia. Toast, a startup that helps make cross-border payments easier and cheaper for migrant workers living overseas, is the latest to help itself to money from investors. The Singapore-based startup today announced that it has closed a $1.5 million round that it is billing as a ‘pre-Series A’ raise. Aetius Capital led the round, which included participation from US-based 1776 and Australian financial services company Pepper Group."
  • Google Wallet unveils payments app for web browsers - NFC World - "Google has unveiled a new Google Wallet web app that will allow users to send money to friends and family through a web browser. The recipient doesn’t need the Google Wallet app to receive the payment, the company says, but senders need to link their debit card to their Google account and have access to a browser."
  • Hyperledger's Next Act: A Blockchain Bridge to China - Coindesk - "Blockchain consortium Hyperledger, for example, was initially founded with support from companies in almost exclusively Western nations. Yet, the consortium has grown this year to include more than 20 members headquartered in China and 10 from Japan and South Korea, with a spattering of members from other nations represented as well. With that success, Hyperledger executive director Brian Behlendorf has faced a new challenge, creating a system that allows information to flow between its multilingual members as seamlessly as data on a blockchain."
  • Paytm fortifying its offline payment network, aims to hire over 10,000 agents - IBT - "The recent demonetisation decision of the PM Narendra Modi government could be a shot in the arm to mobile payment sector with the ban on the old Rs 1000 and Rs 500 notes. Paytm, a leading mobile payments and commerce platform has announced that it will be improving its offline payment network."
  • Regulation of the Internet of Things - Schneier on Security - "Your security on the Internet depends on the security of millions of Internet-enabled devices, designed and sold by companies you've never heard of to consumers who don't care about your security."

ON THE WIRES

  • Citi Launches Global API Developer Hub to Enable Open Banking - "Today, Citi announced the launch of a new global API Developer Hub (developer.citi.com) to rapidly connect with developers and enable them to build innovative client solutions faster than ever before. The global developer platform is one of the most comprehensive to date in the financial services industry. The release of Citi APIs marks the evolution of Citi’s technology to open architecture, which will facilitate collaboration and partnerships with FinTech companies and consumer brands across the globe to benefit customers. Through the global API Developer Hub, Citi will grant developers access to APIs across eight usage categories, including account management, peer to peer payments, money transfer to institutions, Citi rewards, investment purchases and account authorization. Additional categories will be added over time."
  • Citi Unveils Global Digital Wallet: Citi Pay - "Citi Pay will be made available to Citi customers for online and in-app purchases. As a digital extension of their current card relationship, Citi customers will be able to make online and in-app purchases using the same Citibank online user ID and password that they currently use to manage their existing online relationship with Citi. Citi is partnering with Mastercard® to leverage its digital payment service, Masterpass®, to enable the online and in-app transactions. This will allow Citi customers to use Citi Pay at hundreds of thousands of merchants across 33 countries at launch. For Android users, the digital wallet also enables Citi cardholders to make in-store purchases by tapping their Android mobile devices at any NFC-enabled point-of-sale terminal."
  • Cardtek and DC Payments Partner to Introduce Canada's First Mobile Payment Solution for Debit Cards - "Cardtek's MSM solution is integrated into DC Payments card management ecosystem as a gateway connecting issuers, DC Payments and a variety of Tokenization Service Providers (TSP), beginning with Interac, Canada's leading payments brand. MSM enables advanced card credential management services including deployment and life cycle management - tuned for the major digital wallets available in the market."
  • Global Payments Announces Support for Apple Pay in PARKnSHOP - "Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology services, now supports PARKnSHOP - the ability to accept credit and debit card payments with Apple Pay - which is transforming mobile payments with an easy, secure and private way to pay that is fast and convenient in Hong Kong."
  • CPI Card Group Sees Strong Market Adoption of Card@Once® Instant Issuance Solution, Surpasses 1,100 US Bank and Credit Union Customers - "CPI Card Group (Nasdaq:PMTS) (TSX:PNT), a global leader in financial and EMV® chip card production and related services, today announced that more than 1,100 banks and credit unions are actively leveraging its SaaS-based Card@Once® instant issuance solution to successfully provide in-branch, instant issuance of EMV-enabled debit and credit cards to their cardholders."
  • SoftBank and Zimperium to Offer Security Solutions for Mobile Devices in Japan - "In this environment, Zimperium's mobile security solution incorporates an AI-powered threat detection engine that is built to detect both known and unknown threats. The company offers a wide range of products for enterprises and end-users, including security solutions for smartphones, security-conscious software development kits for fintech apps and other categories, and tools for companies to collectively manage the security of multiple devices. Zimperium is also dedicated to finding and helping fix flaws across the entire mobile ecosystem, including both Android and iOS. With its detection of "Stagefright," a bug that impacted the global Android ecosystem in 2015, the company has built a strong track record for cutting-edge research."
  • PAX Launches Next Generation Mobility D220 Payment Terminal - "This elegantly designed paperless point of sale terminal powered by Linux operating system and comes packed with state-of-the-art technology never seen before in mobile payment devices, including a 4-inch full-body dynamic colour touch screen, high performance Cortex A9 processor, longer lasting battery with 3050mAh capacity, and wireless power charging."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

  • Scott Loftesness, a Glenbrook founding partner, formally retired October 31. Read Carol Coye Benson's Payments Views post about our co-founder's impact on the industry and on Glenbrook. If you know Scott, too, leave a comment!
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Among other positions, we're looking for an East Coast engagement manger. Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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, 2016

Headline News from PaymentsNews.com - November 9, 2016

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

ON THE WEB

  • Study says only 8 percent of shoppers use retailer apps. Should they give up? - Marketing Land - "A new survey from inMarket offers some insights and a bit of contradictory data to the growing body of information about in-store smartphone usage. The company examined the mobile shopping behaviors of 2,500 US smartphone owners who used their devices in stores."
  • Mobile Payments in the US Growing Fast, but Still Far from Mass Adoption - eMarketer - "Despite double-digit growth this year and next, Americans’ use of mobile wallets like Apple Pay, Android Pay and Samsung Pay, as well as branded apps that include mobile wallets like the Starbucks app, Walmart Pay and CVS Pay, will not reach mass adoption in the foreseeable future. This year, 38.4 million Americans 14 and over will have used their mobile phones to pay at the point of sale at least once in the preceding six months. That’s just 19.4% of US smartphone users. By 2020, that figure will grow to 33.1% of smartphone users."
  • India's Ill-Timed Paper Chase - Bloomberg Gadfly - "Outlawing high-denomination banknotes, which account for 86 percent of the 16.4 trillion rupees ($245 billion) of currency in circulation, will sting India Inc. Still, the benefits of Tuesday night's surprise demonetization could be both large and enduring."
  • Don’t panic. Here’s Quartz’s 48-hour survival guide to living cash-free in urban India - Quartz - "However, in the world’s fastest-growing startup ecosystem, it is remarkably easy to imagine going cash-free in urban India—at least for the next 48 hours. Everything from getting to work to stocking your fridge is, luckily, just a click away."
  • Mobile UX: A First Look at “Second Look” Transaction Alerts from Capital One - Fin ovate - "Fast-forward six years and Capital One owns the innovation mantle, at least in the United States. It has Capital One Labs, it runs an innovation centre in the Bay Area, and now offers the most advanced set of mobile apps in the card-issuing business."
  • Mobile-only bank Pepper gears up for launch in Israel - Banking Technology - "Israel’s Bank Leumi is gearing up for the launch of its new digital banking subsidiary, Pepper. It is expected to open its virtual doors for business before the end of 2016. Pepper will be available on mobile only. It will offer savings and lending products, with no checking account fees."

ON THE WIRES

  • Verifone and ATIO Group Partner on Comprehensive Forecourt and mPOS Solution for Petroleum Retailers in Mexico - "Verifone (NYSE: PAY), a world leader in payment and commerce solutions, and ATIO Group, a leading provider of retail fuel technology in Mexico and other Latin American markets, have announced a partnership to provide integrated payments technology to Mexico’s petroleum retailers. Mexico is the sixth largest consumer of motor gasoline and diesel with more than 11,000 filling stations across the country, and its energy market deregulation allows foreign companies to import, own assets, and sell other fuel brands."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

  • Scott Loftesness, a Glenbrook founding partner, formally retired October 31. Read Carol Coye Benson's Payments Views post about our co-founder's impact on the industry and on Glenbrook. If you know Scott, too, leave a comment!
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Among other positions, we're looking for an East Coast engagement manger. Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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 08, 2016

Headline News from PaymentsNews.com - November 8, 2016

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

ON THE WEB

  • Wal-Mart Pay in talks with several mobile wallet companies - Reuters - "Wal-Mart Stores Inc (WMT.N) is in talks with several mobile wallet companies to offer more payment options in its Wal-Mart Pay app, an executive at the world's largest retailer said, after signing up JPMorgan Chase & Co (JPM.N) last week."
  • Bank halts online transactions after money stolen from 20,000 accounts - Ars Technica - "Tesco Bank customers remain locked out from making current account transactions, two days after it was revealed that money had been stolen from 20,000 accounts over the weekend."
  • Stripe launches Works With Stripe, a directory of apps that integrate with its payments - Tech Crunch - "Stripe, the company that competes against the likes of PayPal by letting businesses add payment services into their apps and websites with a few lines of code, is today launching a new directory that plays into its bigger ambition to position itself as not just a payment tech startup, but a wider platform for business services."
  • Cash Is Still King in Japan, and That Could Be a Problem for the BOJ - Bloomberg - "More than 101 trillion yen ($966 billion) of cash was circulating at the end of October. It was used for more than 80 percent of transactions by value in 2014."
  • European millennials demand higher standards for mobile payments services - NFC World - "The survey — based on the responses of 4,000 consumers aged 18-34 across Germany, Italy, the Netherlands and the UK — finds that in all four countries millennials would prefer to see mobile payments services delivered by either their banks — especially in the Netherlands and the UK — or by PayPal (Germany and Italy)."
  • Citi introduces Touch ID - Finextra - "Citibank announces the launch of Touch ID Sensor authentication service in Hong Kong, allowing for a full suite of mobile banking services, including transaction, investment and enquiry, to be performed via its Citi Mobile® App on the iOS platform with iPhone 5s or later models1."

ON THE WIRES

  • Net Element Launches Proprietary Gift Card Software Application for Smart Payment Terminals - "Net Element's omni-channel gift and loyalty platform enables small-to-medium size businesses to centralize their customer data spanning in-store, online, and via social and mobile channels. Building on this platform, the newly launched Unified Payments gift card application is now fully integrated with Poynt's "terminal" and "register" applications and works seamlessly with any other payment acceptance application utilizing Poynt's payment framework."
  • Qondado Wins Patent For Digital Debit™ Mobile Payment System - "Qondado's objective in offering the GUI design license to third parties is to enable a multi-platform GUI design standard for device based transactions into a position of maximum usability adoption for first-factor authentication and payment authorization."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

  • Scott Loftesness, a Glenbrook founding partner, formally retired October 31. Read Carol Coye Benson's Payments Views post about our co-founder's impact on the industry and on Glenbrook. If you know Scott, too, leave a comment!
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Among other positions, we're looking for an East Coast engagement manger. Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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 07, 2016

Headline News from PaymentsNews.com - November 7, 2016

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

ON THE WEB

  • A Warning for Fintech - Bloomberg - "The hacking of Tesco Bank may be a negative for the company's reputation and stock price. But the fallout will be felt across the wider fintech industry."
  • Digital Asset Holdings Targets Systemically Important FIs With New Blockchain Tech - Coindesk - "Digital Asset Holdings has revealed new blockchain technology it believes could one day connect the world's most important financial institutions. Instead of a single "full stack" of its own applications, languages and execution capabilities, the company (headed by former JP Morgan executive Blythe Masters) is going for a more modular approach with its new Global Synchronization Log (GSL), revealed for the first time late last week."
  • Shades of Gray: Brazil’s Odd Check Clearing Rule - Deluxe blog - "Brazil’s banking industry association, FEBRABAN, caused a minor uproar earlier this year when it made the .PNG file its official legal format for scanned check images. While the move got little attention outside of its narrow industry niche, it had many banks complaining about operations nightmares and clamoring to get the decision reversed."
  • Banking Technology Vendors Feel the Pinch - Wall Street Journal - "One reason cited by analysts and executives is a delay in expected interest-rate increases, which lenders have been counting on to boost income. The rate outlook has pressured revenue gains, leading banks to push back technology budgets to next year. Also, they say, banks are so focused on fixing compliance problems that they’re working on those issues instead of upgrading core systems that can generate revenue."
  • The C-Suite’s Perspective on Cybersecurity and Liability - Leclair Ryan Information Counts blog - "Recently, IBM surveyed more than 700 C-Suite executives in 18 industries and 28 countries about their views on cybersecurity. Ninety-four percent of those interviewed believe that their respective companies will experience a cybersecurity incident in the next two years. Despite such widely-held acceptance of the inevitability of an incident, only sixty-five percent of C-Suite executives expressed a confidence in their cybersecurity plans."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

  • Scott Loftesness, a Glenbrook founding partner, formally retired October 31. Read Carol Coye Benson's Payments Views post about our co-founder's impact on the industry and on Glenbrook. If you know Scott, too, leave a comment!
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Among other positions, we're looking for an East Coast engagement manger. Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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, 2016

Headline News from PaymentsNews.com - November 4, 2016

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

ON THE WEB

  • Thai Kasikornbank, IBM join forces on blockchain network - Reuters - "Thailand's Kasikornbank Pcl has joined with the Thai unit of International Business Machines Corp to develop blockchain services in a bid to save costs and speed up transaction process, the companies said on Thursday."
  • Android apps will soon be able to offer cheaper, introductory subscription prices - The Verge - "There are many app categories where this could make a big difference. Music and video are certainly on that list; maybe cheaper introductory pricing could boost Google's own struggling YouTube Red service, or help Spotify maintain its lead over Apple Music and other rivals. Other apps like internet TV offerings (Sling TV, PlayStation Vue) and productivity tools (Evernote) also stand to benefit if developers are willing to temporarily cut their prices in hopes that customers will stay subscribed once the normal rate kicks in — either because they forgot or, more ideally, actually find the app or service to be worth the monthly charge."
  • More than one in five card payments in UK use contactless, figures show - NFC World - "More than one in five card payments are now made using contactless cards, The UK Cards Association says, adding it is “excited” by the possibilities the technology brings for making payments to transport operators and charities."

ON THE WIRES

  • Linxens Acquires Smartrac’s Secure ID & Transaction (SIT) Division - "LINXENS, a global leader in the design and manufacture of micro-connectors for smart cards, has today announced that it has acquired SMARTRAC's SIT division, a global leader in the development and manufacture of RFID inlays and antennas. The deal is expected to complete by the end of the year."
  • Uber Launches Its First Debit Card in Latin America, in Partnership with Bankaool - "Uber, the ride-sharing app that allows users to request safe, reliable and affordable rides with just a tap, in partnership with Bankaool, the first Mexican online bank, and Mastercard, the industry leader in electronic payments, announced the launch of Uber Bankaool Debit Card, an innovative solution that offers an alternative way to pay for rides, using a mobile banking app."
  • Alliance Data Announces New Credit Acquisition Tools Aimed At Reducing Friction, Application Time - "Alliance Data Systems Corporation's card services business, a premier provider of private label, co-brand and commercial credit programs, today announced its new, proprietary credit card acquisition tools for retailers, designed to add convenience, save time and reduce abandoned credit applications. I.D. Self-Scan and the first-of-its-kind Frictionless Mobile Credit provide shoppers with the ability to apply for a store-branded credit card in a matter of seconds. Early data indicates that Frictionless Mobile Credit reduces application time by more than 25 percent."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

  • Scott Loftesness, a Glenbrook founding partner, formally retired October 31. Read Carol Coye Benson's Payments Views post about our co-founder's impact on the industry and on Glenbrook. If you know Scott, too, leave a comment!
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Among other positions, we're looking for an East Coast engagement manger. Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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, 2016

Headline News from PaymentsNews.com - November 3, 2016

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

ON THE WEB

  • Masterpass enables in-car payments through General Motors’ OnStar - NFC World - "Drivers will soon be able to make purchases from within vehicles using their Masterpass account through OnStar — a subscription-based, in-car communications service and General Motors (GM) subsidiary. The Masterpass-enabled service, designed in collaboration with IBM, is to be embedded in “many GM vehicles” in 2017."
  • Bud is a UK startup that wants to re-bundle all of your fintech apps into one fintech app - Tech Crunch - "Part personal finance dashboard, part fintech marketplace, you log in via the app to various supported current accounts, savings accounts and other financial products you currently subscribe to, such as money transfer, from which you are able to get a consolidated view of all of your spending and budgeting trends."
  • From mobile first to mobile native - Benedict Evans blog - "Now, though, I think we can see an evolution beyond ‘mobile first’. What happens if you just forget about the PC altogether? But also, what happens if you forget about featurephones? What happens if you presume all of the sophistication that a modern smartphone has and a PC does not, and if you also presume that, with 650m iPhones in use and 2.5bn smartphones in total, you can build a big company without thinking about the low end anymore?"
  • Mobile and tablet have overtaken desktop's share of page views - The Atlas charts - "While this doesn’t necessarily mean more people are using mobile devices than computers, or that people are using their mobile devices more than their computers, it does for certain mean people are viewing more individual webpages on mobile browsers than they are on desktop versions."

ON THE WIRES

  • Walmart to Accept Chase Pay - "Chase announced today that Walmart (NYSE: WMT) will accept Chase Pay® on Walmart.com, within the Walmart mobile application and in its stores through the Walmart Pay app."
  • Recurly Fraud Management Helps Subscription Businesses Combat Suspicious Transactions and Minimize Chargebacks - "Recurly, Inc., the enterprise-grade subscription management platform, today unveiled Recurly Fraud Management which provides automated, streamlined tools to protect revenue by minimizing chargebacks, prevent e-commerce fraud and deter the creation of unauthorized accounts. These threats, if left unchecked, decrease revenue and profits, increase operating costs, and impact customer trust."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

  • Scott Loftesness, a Glenbrook founding partner, formally retired October 31. Read Carol Coye Benson's Payments Views post about our co-founder's impact on the industry and on Glenbrook. If you know Scott, too, leave a comment!
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Among other positions, we're looking for an East Coast engagement manger. Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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, 2016

Headline News from PaymentsNews.com - November 2, 2016

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

ON THE WEB

  • Venture Capitalists Get Radical and Invest in a...Bank - Wall Street Journal - "For the first time in over a decade, a group of Silicon Valley’s top venture firms are making a sizable bet on a deposit-taking U.S. bank. Battery Ventures LP, Andreessen Horowitz, and Ribbit Capital are investing $28 million in a fundraising round for CRB Group Inc., the holding company for eight-year-old Cross River Bank, according to the firms."
  • Jack Dorsey gets another break with a strong third quarter from Square - Tech Crunch - "A lot of the other key metrics for Square continue to rise. Gross payment volume — a measure of how much money is flowing through the company — was up 39% year-over-year in the third quarter to $13.2 billion. The company also said it processed more than 35,000 business loans for a total of $208 million, which was up around 70% from the third quarter last year. Square also said it had margins of around 7%."
  • Brad Garlinghouse takes over as CEO of payments startup Ripple - Tech Crunch - "After running Ripple for around four years and overseeing the company’s growth through around $94 million in financing, CEO Chris Larsen will be stepping down. Larsen will become executive chairman of the company — a common move in CEO transitions. But COO Brad Garlinghouse, previously CEO of Hightail as well as a former AOL and Yahoo senior executive, will be taking over the role as CEO. "
  • Samsung adds local Deals to mobile payment app - Mobile Commerce Daily - "The phone manufacturer added a few new features to its mobile payments application, expanding coverage to three new countries, integrating with more merchants and adding a local Deals section. The new feature helps consumers find nearby deals and lets them redeem those promotions in-app. "
  • Apple Pay Adds Support for 23 More U.S. Banks and Credit Unions - MacTrast - "Apple Pay recently added 23 more banks and credit unions to its rolls of U.S. financial institutions that offer support for Apple’s contactless payments service."
  • A Realistic Approach to Omnichannel Banking - FIS Payments Leader blog - "This paper demonstrates a logical series of approaches that collectively form the basis of an omnichannel blueprint for financial institutions. Financial institutions must move to omnichannel interactions in order to contend with nontraditional banking establishments. Long-term success becomes more realistic when banks begin with a plan that accomplishes initial financial benefit and designs a comprehensive customer assessment."
  • IBM Buys Watson-Based Expert Personal Shopper - eWeek - ""We look to incorporate the Expert Personal Shopper platform into the customer engagement and commerce solutions that we create for our retail clients," said Paul Papas, global leader of IBM iX, in a statement. "By adding XPS into digital experiences, IBM iX aims to make online discovery simpler, smarter and more personalized for consumers. In addition to retail, we believe, XPS can be leveraged and applied to the digital properties for brands across a variety of industries.""

ON THE WIRES

  • Citi Launches Ability to Dispute a Charge Within Mobile App - "Starting today, Citi credit cardmembers have the ability to quickly and easily dispute certain posted charges directly within the Citi Mobile App for iPhone in the U.S. The new feature is designed to provide increased peace of mind to consumers and infuse simplicity and transparency within an often emotional process."
  • CardFlight and Security Card Services enter into mobile payments partnership - "CardFlight, a mobile point of sale (POS) technology provider and Security Card Services (SCS), a bank-focused merchant services provider based in the southeast, today announced their partnership to offer CardFlight's SwipeSimple solution to SCS merchants, enabling them to accept EMV chip card payments on the go."
  • Confidex Links The World of NFC Applications - ""Confidex has manufactured highly personalized, high quality mass transportation tickets since 2005 and in so doing, has delivered over 600 millions NFC-compliant products into the global markets. We would like to offer this high-end manufacturing knowledge for everyday use-cases for consumer products such as smart packages, print media, as well as for industrial applications. With our new modular product approach, high manufacturing capacity and our global distribution channels we are ready to ship the next 100 million custom printed and encoded Confidex Links for various mass NFC applications around the world", tells Confidex Marketing Director, Mikko Nikkanen."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

  • Scott Loftesness, a Glenbrook founding partner, formally retired October 31. Read Carol Coye Benson's Payments Views post about our co-founder's impact on the industry and on Glenbrook.
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Among other positions, we're looking for an East Coast engagement manger. Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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 01, 2016

Headline News from PaymentsNews.com - November 1, 2016

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

ON THE WEB

  • “I know Scott!" - Payments Views (Carol Coye Benson) - "Our co-founder, partner and friend, Scott Loftesness, is formally retiring from Glenbrook. I can’t begin to say how much I will miss him – as a colleague, as a mentor, and as an endless source of ideas and insights. "
  • Americans are finally about to get online banking features that Brazil has enjoyed for years - Quartz - "Previously repressed by US regulations, industry inertia, and American consumer wariness, digital banking is about to finally become commonplace thanks to the money-transfer service Zelle. Developed by a consortium of major banks using the banks’ existing customer account bases, Zelle hopes to compete against PayPal, Venmo, and Square Cash. While it may seem revolutionary to Americans, consumers in Brazil, Norway, Australia, and other countries have been casually using similar technologies for over a decade."
  • New York's bitcoin hub dreams fade with licensing backlog - Reuters - "New York's financial regulator had sights set on becoming a global hub for innovations like bitcoin when it adopted trailblazing virtual currency rules last year. But the state lost that momentum when the agency's chief left, putting a licensing process in limbo and allowing rivals to catch up."
  • Contis Group embeds with Faster Payments and direct debits - Finextra - "This banking plus Faster Payments and Direct Debit capabilities run on an exclusive Contis-developed banking platform, and as a result, differentiates itself from other providers by offering a one-stop solution. All facets of the payments platform for banking and card payments are totally owned by Contis and are plugged directly into the UK banking backbone via its full agency banking arrangement with NatWest and the Visa network."
  • Credit Card Giant MasterCard Releases 'Experimental' Blockchain APIs - Coindesk - "The credit card giant’s development site now features three APIs connected to its internal blockchain work, including offerings focused on smart contracts and payment settlement. The APIs were released by MasterCard Labs, its innovation outfit."
  • Google seeks to be one-stop app, embedding ordering capability - Mobile Commerce Daily - "The newest update for Google Maps may bring a significant boon to small restaurants and mobile ordering consumers through the inclusion of a “place an order” button in the application, letting users order food from a restaurant directly through the navigation application."

ON THE WIRES

  • State Bank of India Chooses NCR to Execute Country’s Single Largest ATM Order - "NCR Corporation (NYSE: NCR), a global leader in omni-channel solutions, today announced that State Bank of India (SBI), the country’s largest financial institution, has awarded NCR with the single largest order of ATMs in India. As part of this agreement, which is valued at more than $50 million USD to be executed over the next seven years, NCR will deploy 7,070 SelfServ™ 22e ATM’s, software solutions and provide services support to help SBI further expand its network in the country to reach its financial inclusion goals."
  • linked2pay Adds 'Pay by Text' to Bank Centric Payments - "Already a leading option for making transfers and settling up a tab among friends, our approach extends payments by text to a broader business usage. Ideal for invoicing or donation requests, a recipient of a text clicks to access their secure wallet to complete the transaction (by card or ACH) and receives an immediate receipt."
  • Shift4 Enables Merchants to Process EMV Chip Cards Through Global Payments - "hift4 Corporation, provider of the world's largest independent payment gateway, announced today it has certified for U.S. EMV with Global Payments. This certification enables merchants using Shift4's DOLLARS ON THE NET payment gateway to process chip-embedded credit and debit card payments through Global Payments with layered security as well as flexible payment processing options not available from competing payment service providers."
  • Law Enforcement In Connecticut - "Primark US Corp. ("Primark") discovered that payment card skimmers had been illegally placed on a limited number of card payment machines by persons unknown in the Danbury Fair Mall location. "Skimmers" are devices that criminals use to steal payment card data. Skimmers are typically about the size of a deck of cards, are placed over payment card readers, such as payment card terminals in retail stores, and are typically undetectable by the average user. The skimmer can capture magnetic stripe data as payment cards are swiped."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

  • Scott Loftiness, a Glenbrook founding partner, formally retired October 31. Read Carol Coye Benson's Payments Views post about our co-founder's impact on the industry and on Glenbrook.
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Among other positions, we're looking for an East Coast engagement manger. Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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 31, 2016

Headline News from PaymentsNews.com - October 31, 2016

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

ON THE WEB

  • “I know Scott!" - Payments Views (Carol Coye Benson) - "Our co-founder, partner and friend, Scott Loftesness, is formally retiring from Glenbrook today. I can’t begin to say how much I will miss him – as a colleague, as a mentor, and as an endless source of ideas and insights. "
  • U.K. Startup Powa’s Failure Sparks Cross-Atlantic Spat - Wall Street Journal - "Now the fight over what went wrong at that smartphone-payment business, Powa Technologies, is turning public, providing a window into the sometimes-fraught relationship between entrepreneurs and investors when things sour."
  • Kohl’s Pay Update – Our Customers Love It! - Kohl’s blog - "It’s been just a few weeks since Kohl’s launched Kohl’s Pay, a mobile payment offering exclusively for our Kohl’s charge customers, and customer feedback has been extremely positive," said Ratnakar Lavu, Kohl’s chief technology officer. "
  • Algorithm Red Flags Potentially Dangerous Domain Names at Time of Purchase - WSJ CIO Journal - "Invented by five researchers at Princeton University and the University of California, the code works by scanning for 22 “features,” or red flags that are consistent with suspicious behavior. They include names that are registered in bulk by the hundreds, names that are variations of the same name, random-looking names, and names with numerical characters. "
  • This Anti-Fraud ATM System Won't Let You Use Your Phone - Bloomberg - "Elderly Japanese have been the target of so-called “it’s me” telephone call scams for years. Criminal groups call pretending to be a relative in need of funds or a medical professional or tax official demanding payment. The victims are often unfamiliar with how to use the ATM fund transfers, so criminals guide them through the transaction over the phone."
  • Goldman Says UnionPay Curbs Won’t Tame ‘Stealth’ China Outflows - Bloomberg - "Bloomberg News reported that credit and debit cards to buy insurance products in Hong Kong will be suspended other than for accident and medical coverage -- later confirmed by UnionPay. Chinese residents have been buying the insurance to skirt controls on how much capital they can move abroad, in some cases using multiple swiping of credit cards as a way of moving money overseas through the purchase of insurance policies."
  • Facebook Mobile Ad Revenues to Near $30 Billion Next Year - eMarketer - "Facebook is clearly getting closer to monetizing Messenger and WhatsApp,” said Williamson. “In August it made changes to WhatsApp’s privacy policy in preparation for allowing consumers to communicate more easily with businesses. And Messenger in September added buy buttons and native payments to the app."
  • America Isn’t Ready for a Cyberattack - Wall Street Journal - "The recent cyberattack that rendered more than 1,200 websites unreachable was a warning. Experts say a similar, or larger, attack could be launched tomorrow, and we’d be powerless to prevent it."

ON THE WIRES

  • System Innovators and ACCEO Solutions Inc. Release Semi-Integrated EMV Credit Card Payment Processing Solution for Government Agencies - "System Innovators (SI), a leading provider of centralized cashiering and enterprise revenue management (ERM), and ACCEO Solutions, a leader in payment solutions, have partnered to offer government clients an EMV-certified, semi-integrated point-of-sale (POS) middleware solution with end-to-end encryption (E2EE)."
  • WEX® and MyFlightSolutions™ Launch My Copilot™, an All-in-One Virtual Card Payment Solution - "Enabling operators to quickly and automatically reconcile a pilot’s trip expenses is groundbreaking for aviation businesses,” explained Jim Pratt, SVP, general manager, WEX Virtual Payments. Another benefit of My Copilot™ is the ability to automate the receipt tracking process so that users no longer need to manually keep track of unwieldy copies of receipts for approved expenses. “Simply put, this app means that pilots will ‘free up’ their wallets, which are usually chock-full of fuel credit cards,” notes Pratt. “Plus, aircraft operators no longer need to worry about losing track of cumbersome paper releases in order to buy fuel."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

  • Scott Loftiness, a Glenbrook founding partner, formally retired October 31. Read Carol Coye Benson's Payments Views post about our co-founder's impact on the industry and on Glenbrook.
  • We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Among other positions, we're looking for an East Coast engagement manger. Click here to learn more!
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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, 2016

Headline News from PaymentsNews.com - October 28, 2016

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

ON THE WEB

  • Mobile influences retailers’ shift to loyalty programs, forgetting traditional coupons - Mobile Commerce Daily - "After years of being a coupon-cutter’s dream, Bed, Bath & Beyond announced earlier this month that it would drop coupons in favor of a subscription loyalty-based system called Beyond+, which gives a permanent 20 percent discount."
  • YES Bank integrates ToneTag tech for sound-based payments - Finextra - "ToneTag utilises the in-built mic or speaker of any device to enable data transfer through soundwaves at merchant terminals which have integrated the technology. The SDK contains features such as patented noise filters, three levels of encryption, tokenisation, white box cryptography and multifactor authentication."
  • 3 ways retailers plan to protect customer data - Retail Customer Experience - "Interested in knowing how your data is being protected? Here are three ways retailers plan to protect customer data through 2017."
  • Dunkin’ Donuts To Enable Gifting Through Messages In IOS 10 - Point of Sale News - "Today Dunkin' Donuts becomes the first national coffee chain to enable gifting and payment within Messages in iOS 10. Dunkin' Donuts fans can now access the Dunkin' Mobile App through the App Store for iMessage to deliver mobile Dunkin' Donuts Cards to friends, family and colleagues as quickly and simply as sending an emoji."
  • IoT Device Maker Vows Product Recall, Legal Action Against Western Accusers - Krebs on Security - "A Chinese electronics firm pegged by experts as responsible for making many of the components leveraged in last week’s massive attack that disrupted Twitter and dozens of popular Web sites has vowed to recall some of its vulnerable products, even as it threatened legal action against this publication and others for allegedly tarnishing the company’s brand."
  • EU Issues Data-Protection Warning to WhatsApp, Yahoo - Wall Street Journal - "A European Union body representing national data-protection authorities from the bloc’s 28 states said it sent WhatsApp a letter expressing “serious concerns” about the messaging service’s new terms that allow it to share user information including phone numbers with its parent, Facebook. The regulators urged the company to pause the data sharing until “legal protections” could be assured."

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

October 27, 2016

Headline News from PaymentsNews.com - October 27, 2016

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

ON THE WEB

  • Money20/20 Wrap-up - Glenbrook’s Payments Views (George Peabody) - "We’ve seen a lot of innovation in payment initiation over the last few years. Apple Pay, Android Pay, Walmart Pay and their like have filled Payments News headline stories. But this year, at Money20/20, consumer-facing innovation downshifted to a lower gear. And that’s a good thing."
  • More Pain at the Pump, But This Time for Gas-Station Operators - Bloomberg - "For gas stations, one demotivating factor is cost: About a third of the 750,000 pump dispensers are too old and would need to be replaced to accept chip cards, according to Gray Taylor, executive director of Conexxus, which looks at technology standards for the global convenience and petroleum retail market. The average price for a replacement unit: $17,000. And that’s on top of what a station might spend on new hardware and software for EMV point of sale. In all, gas stations and convenience stores would have to shell out more than $7 billion to replace or upgrade their machines to accept chip-cards, he said."
  • Wal-Mart, Target Invest in Store Pickup for Holidays - Wall Street Journal - "This holiday season one way traditional retailers hope to wrestle sales from Amazon.com Inc. is by making it easier for shoppers to buy items online and pick them up in stores. Retailers including Wal-Mart Stores Inc. and Target Corp. are investing heavily to smooth pain points that have kept store pickup in the shadows of home delivery, Amazon’s sweet spot."
  • Etsy adds Adyen as a new payment processor in wake of Worldpay outage - Tech Crunch - "And they say wild west justice is no more. Etsy, the online marketplace for handmade goods, has just reached a deal with Adyen, a global payments processor, to help run its payments backend for the over 1.7 million sellers on the site."
  • Mastercard unveils chatbot platform for merchants and banks along with wearable payments - Mobile Commerce Daily - "Mastercard is bringing Mastercard KAI to both merchants and banks Mastercard is taking two big steps forward when it comes to mobile integration thanks to a new chatbot system and a partnership that brings payments to wearable devices, signaling that the credit card company is committed to making multichannel retail more mobile."
  • HOW NORTH AMERICAN CONSUMERS RATE THEIR BANKING AND PAYMENT APPS - ARC from Applause - "The perfect attendance rating is an important milestone. Mobile is changing the way consumers bank. Fiserv’s recent survey of more than 3,000 U.S. adults ages 18 and older reveal that 40% use mobile banking today, and among millennials that number increases to more than 75%. In other words, mobile is the future of banking."
  • Investors Are Going Wild for a Digital Currency Called Zcash (And It's Not Even Out Yet) - Coindesk - "Unlike most digital currencies (which are clones of bitcoin or assets on the ethereum protocol) Zcash uses a wholly new protocol called Zerocash, which offers both anonymous digital coins called zerocoins and non-anonymous coins referred to as basecoins. Zerocash permits anonymous transactions by harnessing a kind of zero-knowledge proof called a zk-SNARK, which allows two parties to provide each other with verified information without revealing their identities in the process. This technology permits the creation of a secure blockchain that hides the sender, recipient and value of all transactions. Further, the information surrounding these transactions is only available to those holding a view key."
  • Now may be the time to dust off your credit cards - Boston Globe - "So far this year, banks have issued new credit cards at a rate unseen since before the 2008 financial crisis, which triggered an avalanche of bad debt. Revolving debt, primarily credit cards, has been climbing, nearing $975 billion in August, with analysts expecting it to reach a pre-crisis peak of more than $1 trillion by early next year."
  • CYBERSECURITY, UNSCRUPULOUS DINERS, AND INTERNET STEWARDSHIP - Stanford Law School blog - "To mitigate this existential risk of "cybersecurity free riders" to the continued health and growth of the Internet, I believe it is necessary to develop a theory of Internet Stewardship—a distributed, decentralized, cooperative model that incorporates a shared duty to establish, maintain, and follow basic cybersecurity standards. "

ON THE WIRES

  • FICO Enterprise Security Score Gives Long-Term View of Cyber Risk Exposure - "Analytic software firm FICO today launched the FICO® Enterprise Security Score, a metric that reveals the likelihood an organization will be breached due to a cyber attack. This score can be used by an enterprise to understand and shore up its defense gaps, and by third parties such as cyber insurance providers, potential partners and customers who need an objective measure of a firm's cyber risk."
  • Qualcomm to Acquire NXP - "Qualcomm Incorporated (NASDAQ: QCOM) and NXP Semiconductors N.V. (NASDAQ: NXPI) today announced a definitive agreement, unanimously approved by the boards of directors of both companies, under which Qualcomm will acquire NXP. Pursuant to the agreement, a subsidiary of Qualcomm will commence a tender offer to acquire all of the issued and outstanding common shares of NXP for $110.00 per share in cash, representing a total enterprise value of approximately $47 billion. "
  • Viewpost Electronic Invoicing and Payments Survey: The Gut Response to ‘the Check’s in the Mail’ - "The survey, fielded to nearly 3,000 U.S.-based businesses from September 29 to October 7, 2016, discovered electronic payments is the preferred method of payment by a majority of professionals (51.6 percent) and is close to replacing paper checks as the number one method of payment (paper at 37 percent versus electronic at 35 percent) for businesses—highlighting a migration that is helping to solve age-old problems with using antiquated payment solutions."
  • WEX Inc. and ExxonMobil Extend North American Fleet Card Contract for 10 More Years - "WEX Inc. (NYSE: WEX), a global provider of industry-leading corporate payments solutions, today announced a ten-year extension of its North American fleet card contract with Exxon Mobil Corporation (NYSE: XOM) and Imperial Oil, whose managing partner is Imperial Oil Limited (NYSE: IMO)."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

October 26, 2016

Headline News from PaymentsNews.com - October 26, 2016

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

ON THE WEB

  • Facebook isn’t making money when you shop on Facebook — yet - Recode - "Facebook has tried a bunch of different ways to get people to shop on the site, but it’s never been Facebook’s strength. That hasn’t stopped the social giant from trying, though. Remember Facebook gifts? Or the company’s plan to push into buy buttons? Now Facebook has another new plan: Marketplace, a Craigslist-style product that lets people buy things from, or sell things to, other Facebook users."
  • Allstate’s faster mobile payment option capitalizes on mobile financial services’ popularity - Mobile Commerce Daily - "Allstate is revamping its digital payment method with QuickCard Pay, which takes over for its Fast Mobile e-Payment as its new focus for quick, mobile-ready payment options using the Mastercard Send system to help users pay their bills and receive payments on claims on any device."

ON THE WIRES

  • With U.S. Bank APConnector™, More Businesses Can Say "Yes!" to Virtual Pay - "By acting as a translator between the bank’s payment systems and an organization’s ERP software, APConnector makes the path to payment automation seamless and cost effective. It allows organizations to send payments electronically using secure virtual card accounts that provide enhanced remittance data as well as improved reconciliation. Paying corporate invoices electronically no longer requires a major commitment of information technology (IT) resources. Set-up time for launching a virtual card solution shrinks to as little as a few weeks, versus up to three months in a conventional set up."
  • Giesecke & Devrient Teams with Rittenhouse Payment Solutions for Event-based Wearable Solutions - "Extending its active participation in contactless-payment-enabled wearables, G&D is bringing a new wearable solution to the market with Rittenhouse Payment Solutions, a leader in the prepaid payments space who offers cutting-edge program solutions. The prepaid smart wristband can be used for payment and access in a variety of everyday environments."
  • First Data, Alipay Partner to Bring Popular Chinese Mobile Payment Option to U.S. - "First Data (NYSE: FDC), a global leader in commerce-enabling technology, today announced a new partnership with Alipay, one of the world’s leading online payment platforms, to bring the Alipay mobile payment solution to United States merchants. Beginning in November, Alipay will be available to Chinese consumers shopping at select retail locations in California and New York. Participating retailers at those locations will use First Data’s Clover Mini point-of-sale solution to accept Alipay."
  • Samsung Pay to Add Three New Countries, Online and in-App Payments, Location-Based Deals and More - "Samsung Electronics Co. Ltd. today announced Samsung Pay will add three new countries to the roadmap including Malaysia, Russia and Thailand, which will bring the convenience of the service to 10 countries by the end of 2016. Samsung Pay also announced a global partnership with Mastercard to offer a simplified online payment and express checkout solution through its digital payment service Masterpass, starting early next year. Hundreds of thousands of merchants in 33 countries currently accept Masterpass for online payments."

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

October 25, 2016

Headline News from PaymentsNews.com - October 25, 2016

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

ON THE WEB

  • Big U.S. Retail Bank Operations Under Scrutiny After Wells Scandal - Wall Street Journal - "The Office of the Comptroller of the Currency earlier this month sent formal letters to large and regional banks seeking information about sales practices and incentive-compensation structures following the Wells Fargo & Co. scandal, people familiar with the requests said."
  • Banks Challenge Venmo With New Payments Network Dubbed Zelle - Bloomberg - "Nineteen U.S. financial firms -- including titans such as JPMorgan Chase & Co., Bank of America Corp. and Wells Fargo & Co. as well as regional lenders and credit unions -- have signed up for a new real-time payments network dubbed Zelle. The venture, replacing an existing system called clearXchange next year, will be accessible to more than 76 million mobile banking customers when it starts, according to a statement Sunday from Early Warning, the bank-owned entity handling the project."
  • Visa's Blockchain Bet Opens Up to Developers - Fortune - "Anyone can now build on top of Chain’s network. Banks and financial firms have been tinkering for the past few years with the code that powers cryptocurrencies such as Bitcoin, with the intention of potentially overhauling their moldering infrastructure. Now they’re preparing to release their code into the wild. Chain, a two-year-old startup based in San Francisco, has decided to make its platform available to the public. The company is releasing an open source version of its Chain Core software to developers, any of who as of Monday can find the source code for its proprietary blockchain, or distributed ledger, on its webpage on Github, a code-sharing website."
  • A Plug-in From Synchrony Brings Store Cards to Retailers’ Shopping Apps - Digital Transactions News - "With consumers spending more and more time on retailers’ shopping apps, it was only a matter of time before merchants with proprietary charge card programs began offering a digitized version of those cards within their apps. On Monday, that time arrived as store card processor Synchrony Financial announced its Synchrony Plug-in, which allows client retailers to offer a digital version of the private-label plastic Synchrony issues on their behalf."
  • India’s largest data breach involving debit cards went undetected for 3 months - Mint - "Card data of 3.2 million customers was stolen between 25 May and 10 July from a network of Yes Bank Ltd ATMs managed by Hitachi Payment Services Pvt. Ltd, but it was only in September that banks and payments services providers became aware of the extent of the breach."

ON THE WIRES

  • Visa Opens Tokenization Services to Third Party Partners - "Today Visa (NYSE:V), announced it is accelerating the adoption of secure, digital payments by allowing third party partners to offer Visa Token Service (VTS). By expanding access to VTS to new partners – including technology companies, device manufacturers, issuers, Internet-of-Things (IoT) companies, wallet providers, merchants and others – Visa will be able to more quickly and easily offer secure digital payment services on any device to the market. Giesecke and Devrient, Gemalto and Inside Secure are the initial partners participating in Visa’s token service provider program to offer new expanded access to VTS."
  • Mastercard Partners with Fit Pay to Accelerate the Development of Payments-Enabled Devices and Wearables - "Mastercard today announced a partnership with Fit Pay, Inc. to bring Mastercard contactless payments to consumer wearables and Internet of Things (IoT) devices. By integrating the Fit Pay platform with the MasterCard Digital Enablement Service (MDES), the companies will work with Wearatec and other innovative manufacturers to bring to Mastercard cardholders a variety of secure contactless payments-enabled devices."
  • Mastercard Makes Commerce More Conversational with Launch of Chatbots for Banks and Merchants - "Today at Money 20/20, Mastercard announced its plans to launch artificial intelligence (AI) bots that allow consumers to transact, manage finances, and shop via messaging platforms."
  • BitPay Launches Secure Bitcoin Payments App, Targets New Bitcoin Adoption - "The BitPay app brings together BitPay's experience in merchant payments and BitPay's tools for consumer bitcoin payments into one place, opening up new possibilities for bitcoin adoption and use."

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

October 24, 2016

Headline News from PaymentsNews.com - October 24, 2016

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

ON THE WEB

  • Zelle p2p payments push to compete with Venmo now has 19 US FI backers - Tech Crunch - "The US finance industry is slowly getting its ducks in order to try to compete with the likes of PayPal-owned social payments platform Venmo. Today bank network operator Early Warning announced it has 19 US financial institutions signed up to a forthcoming payments network called Zelle, due to launch in early 2017. "
  • PayPal Gets Friendlier With Facebook - Wall Street Journal - "An integration with Facebook Inc., announced early Monday in a blog post by PayPal, will have the social network make the payments giant a way to pay across a broader range of new online shopping features. PayPal will also now make it possible to receive messages about any purchase, like a receipt, through Facebook’s Messenger chat service."
  • Android Pay partners with Visa and Mastercard to bring simple checkout to more places online - Google blog - "Android Pay users will soon be able to pay on hundreds of thousands of new sites where Visa Checkout or Masterpass are accepted using their preferred device authentication method - like fingerprint recognition. No longer will users have to remember multiple usernames and passwords in order to checkout, saving them time and hassle."
  • The restaurant table(t) is getting crowded - Tech Crunch - "Square deserves much credit for leading the way to software-based POS systems; however, Square initially was more about electronifying cash for micro merchants than a new central nervous system. Other companies like Toast, Revel, ShopKeep and Clover get more credit for focusing on the restaurant owner’s business needs — like menus, order routing and staffing — while embedding payments as a “mere” feature in their software."

ON THE WIRES

  • FIDO Alliance Announces New Authentication Specification Effort with EMVCo to Bring Added Security and Convenience to Mobile Payments - "The FIDO Alliance will develop a new technical specification into its FIDO authentication suite to fulfill use cases provided by EMVCo. The specification will provide a standard way for mobile wallet providers and payment application developers to support Consumer Device Cardholder Verification Method (CDCVM)1, enabling consumers to conveniently use on-device FIDO® Certified authenticators -- such as a fingerprint or "selfie" biometrics -- to securely verify their presence when making an in-store or in-app mobile payment."
  • CPI Card Group Introduces End-to-End Support for Open-Loop Digital Prepaid Cards - "CPI Card Group (Nasdaq:PMTS, TSX:PNT), a global leader in financial and EMV® chip card production and related services, today announced enhancements to its MYCA card ordering system that expand the gift card options available to program managers and financial institutions. CPI customers now have the ability to order and fulfill open-loop digital gift cards, which are delivered electronically through the MYCA platform and can be redeemed online."
  • Mastercard and BMO Make Fingerprint and ‘Selfie’ Payment Technology a Reality in North America - "Mastercard today announced the North American rollout Identity Check Mobile™, a new payment technology application that uses biometrics, including fingerprint and facial recognition, to verify a cardholder’s identity and simplify online shopping. BMO Financial Group (BMO) will be the first bank in the U.S. and Canada to offer Identity Check Mobile to its corporate customers starting in the first half of 2017."
  • Fifth Third Bank To Offer Real-Time Person-to-Person Payments - "Fifth Third Bank announced today that it will join Early Warning’s Zelle Network to offer customers a safe and fast way to make person-to-person (P2P) payments. With Zelle, money can be sent by simply using the recipient’s mobile number or email address. Fifth Third customers will have access to real-time payments with Zelle in 2017."
  • Verifone Introduces Advanced Commerce Capabilities & Fast Checkout in the Palm of Your Hand - Hello Experience! - "A part of the fully-integrated, Linux-based Verifone Engage family, the V400m is a result of the strategy at Verifone to offer new value at the POS by increasing loyalty and revenue opportunities for merchants and improving the consumer experience with real-time personalization wherever transactions are taking place. Whether it’s pay-at-the-table, curbside, or line-busting, its portability makes it an ideal solution for a variety of business scenarios."
  • Ingenico Group Launches First-of-Its-Kind Enterprise-Class mPOS Solution - "Ingenico Group, the global leader in seamless payment, today announced the launch of the iSMP4 Companion, a groundbreaking enterprise-class mobile point of sale (mPOS) device. Featuring the largest screen and battery capacity in its class, the lightweight iSMP4 makes it easy to accept all forms of payments – including EMV chip & PIN and chip & sign, magstripe and NFC/contactless – anywhere, anytime a merchant and consumer interaction may take place."

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

October 21, 2016

Headline News from PaymentsNews.com - October 21, 2016

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

ON THE WEB

  • Visa tells Europe to be ready for 3-D Secure 2.0 by April 2018 - Finextra - "As EMVCo prepares to unveil a major update to the 3-D Secure specification for authenticating online transactions, Visa says that it expects to set a migration deadline for European merchants of April 2018."
  • PayPal’s $100 billion mobile payment milestone makes it eBay divorce winner - diginomica - "Over a year after its divorce from eBay, PayPal is looking at a significant milestone – over $100 billion mobile payments processed in the coming year. To put that into context, the firm has done $200 billion in volume across the whole of the last ten years."
  • PayPal ramps up mobile payments business - Tech Crunch - "PayPal reported third quarter earnings after the bell on Thursday. The global payments company reported an 18% increase in revenue at $2.67 billion, when analysts were expecting $2.65 billion. Adjusted earnings per share stood at 35 cents, in line with Wall Street expectations."
  • China Pushes for Blockchain Cooperation With New Research Report - Coindesk - "“[We] hope that all sectors work together to actively grasp the blockchain development trends and regulations...to create a favorable environment for development [and] accelerate the promotion of China's blockchain technology and industrial development.”"
  • Error Message: Addressing Issues with Dual Interface #Transaction Declines - TMG - "At this point, TMG and its processing partner First Data believe this is only impacting Visa-branded cards at Verifone terminals. Depending on the merchant’s point-of-sale (POS) terminal, there could be a couple of different issues at play."
  • Facebook Pages converts into purchasing platform, but further threatens big business - Mobile Commerce Daily - "The main features include new ways for customers to order, purchase or research purchases from a business directly through the Facebook app. For businesses of all sizes, the ubiquitous popularity of Facebook means that these new features will make interactions between brands and consumers on both ends a bit simpler."

ON THE WIRES

  • Visa Direct Expands Its Reach With Real-Time, Card-Based P2P and Funds Disbursements Services - "Today Visa (NYSE:V) announced that Visa Direct continues to gain momentum as a faster payments solution through key partnerships with FIS and Jack Henry & Associates, Inc. (NASDAQ: JKHY) for person-to-person (P2P) payments, and Stripe, Hyperwallet and Ingo Money for faster business and government disbursements."
  • Visa Introduces International B2B Payment Solution Built on Chain’s Blockchain Technology - "Visa is working with Chain to build Visa B2B Connect using Chain Core, an enterprise blockchain infrastructure that facilitates financial transactions on scalable, private blockchain networks. Building on this technology, Visa is developing a new near real-time transaction system designed for the exchange of high-value international payments between participating banks on behalf of their corporate clients. Managed by Visa end-to-end, Visa B2B Connect will facilitate a consistent process to manage settlement through Visa’s standard practices."
  • Bank of America Merrill Lynch and Modo Announce Strategic Relationship - "Bank of America Merrill Lynch, a global leader in transaction services, and ModoPayments, LLC (Modo), an industry leader in digital payments innovation, today announced a strategic relationship that will give the bank access to Modo’s patented COIN® Operated Digital Payments Hub. Through the hub, Bank of America Merrill Lynch clients will have the ability to connect with multiple emerging payment networks. Furthermore, the new global capabilities can extend the reach of the bank’s existing digital business-to-consumer offering, Digital Disbursements."
  • ETA Releases Guidance to Payment Facilitators with Voluntary Industry Best Practices - "The Electronic Transactions Association (ETA), the global trade association representing the payments technology world, released new Payment Facilitator Guidelines offering guidance and practices to these new entrants regarding settlement, registration, funding delays, fraud, security, and related issues. Authored by Double Diamond Group on behalf of ETA, these new guidelines will help promote the growth of the Payment Facilitators segment as it brings new technology companies into the payments industry. The Payment Facilitator Guidelines will be the cornerstone of benefits for companies that join ETA, the trade association of the payments industry."
  • Vantiv First to Offer Verifone Carbon with Commerce Platform - "To help SMBs keep pace and win in the face of this transformation, Verifone (NYSE: PAY) and Vantiv, Inc. (NYSE: VNTV) today announced an agreement to bring the Verifone Carbon Commerce Platform to market in the United States as a key feature of the Vantiv SmartFit Solutions™."
  • Shift4 and Mi9 Retail Announce Joint EMV Solution for Retailers - "Shift4 Corporation, provider of the DOLLARS ON THE NET payment gateway, and Mi9 Retail, a premier provider of merchandise management, store operations, customer engagement, and e-commerce software, today announced the general availability of their joint EMV-certified solution for retailers."

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

October 20, 2016

Headline News from PaymentsNews.com - October 20, 2016

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

ON THE WEB

  • 7-Eleven, McDonald’s, Circle K ... Google launches Android Pay at 5,000 Hong Kong locations - South China Morning Post - "Google has launched its mobile payments system Android Pay in Hong Kong, allowing Android users to make contactless payments in-store as it pits itself against Apple Pay and Tencent’s WeChat Wallet in the city. Smartphone users whose handsets are enabled with near-field communication (NFC) technology and runs KitKat 4.4 or higher will be able to download the Android Pay app and pay for purchases at over 5,000 locations in Hong Kong, according to the company."
  • Social payments app Circle adds two more European markets - Tech Crunch - "Circle has lit up two more European markets as it works to rapidly build out its presence in the region. Users of the P2P payments app in Spain and Ireland can now connect any Spanish or Irish bank account to the app to send and receive money within their own countries and across borders (with native Euro support in those markets)."
  • Mobile Wallets Are the New Loyalty Program - Bloomberg - "By absorbing the functions of loyalty cards, mobile wallets can beat credit and debit cards for convenience. Launched in October, Kohl’s Pay lets users redeem Kohl’s Cash and coupons, accrue rewards, and pay with the retailer’s branded Charge Card—in one step. Starbucks’s wallet lets customers earn free drinks and order and pay ahead; it makes up about 25 percent of the chain’s U.S. transactions."
  • Mobile payments on the rise, but still have far to go - San Francisco Chronicle - "As more retailers accept mobile payments, the options are growing. As of December, there were more than 2,000 payment-related startups, according to a report by research firm Forrester. But only a few apps will emerge victorious. So far, the three mobile payments with the most customer awareness are: PayPal (88 percent); Apple Pay (74 percent) and Amazon (61 percent), according to First Annapolis."
  • Mobile Payments More Secure Than People Think - Htet Tayza blog - "New research conducted by NTT DATA indicates that consumer fears are impeding the adoption of mobile payment technology worldwide. Of 2,000 consumers polled globally, over half expressed the belief that cash is more secure than mobile payments. In contrast of the 300 company executives questioned, 60% said that mobile payments will help them build their firms, because they are secure."
  • DocuSign partners with major payment providers to offer pay at signing - Tech Crunch - "The payment works in a similar fashion to adding a signature line. You drag your signature line from DocuSign into your document, then you drag a payment line along with it if required. You fill in the payment amount and send the document to the recipient."
  • Wal-Mart Turns To Blockchain For Tracking Pork In China - Wall Street Journal - "Identification details about each party handling the pork, as well as other data about transactions between parties, would be recorded on a blockchain system built on IBM’s version of the open-source Hyperledger platform. Blockchain data is immutable, which “reduces the opportunity for fraud or any inaccuracy,” Mr. Chang said."

ON THE WIRES

  • 100 million Africans will be impacted across 33 markets by Masterpass QR - "Masterpass QR is the first mobile-driven, Person-to-Merchant (P2M) payment solution. The solution is an enhancement to the Masterpass global digital payment service that will enable millions of micro, small and medium enterprises across Africa to begin accepting fast and secure digital payments. This service addresses the challenges of expensive infrastructural issues associated with point of sale devices and eliminates the need for cash."
  • R3 Trials Interbank Cross-Border Payments With Ripple’s Digital Asset XRP - "Financial innovation company R3 and twelve of its consortium member banks have trialed Ripple’s distributed financial technology and the potential for its digital asset to scale liquidity and reduce the costs and inefficiencies of interbank cross-border payments."
  • Consumers Willing to Take Additional Security Steps to Prevent Online Fraud as E-Commerce Grows, Finds New American Express Survey - "The report, which surveyed 1,021 U.S. consumers and 401 merchants, reveals that as ecommerce grows, payment security remains top of mind for both. Nearly half (48%) of consumers who shopped online in the past year have experienced payment fraud, representing nearly 80 million online consumers. Four in 10 consumers (40%) view online shopping as having more risk than an in-store purchase (28%). In addition, 42% of shoppers say that they have abandoned an online purchase due to payment security concerns. This increases to 48% for Gen X and 50% for Millennials, suggesting that while younger consumers are considered early adopters of new technology, they also place a high priority on the security of their information."
  • CVS Pharmacy Takes CVS Pay Nationwide Following Successful Pilot - "CVS Health (NYSE: CVS) today announced the national rollout of CVS Pay™, an end-to-end mobile payment solution at CVS Pharmacy. CVS Pay is now part of the CVS Pharmacy® mobile app, and integrates payment, prescription pickup and the ExtraCare® loyalty program all into one quick scan at checkout. CVS Pay is an example of the company's larger commitment to developing digital tools that simplify the customer experience, making it easier for consumers everywhere to better manage their health."

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

October 19, 2016

Headline News from PaymentsNews.com - October 19, 2016

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

ON THE WEB

  • Regulators to Toughen Cybersecurity Standards at Nation’s Biggest Banks - Wall Street Journal - "The proposed standards would require financial firms to develop and maintain a cyberrisk management plan approved by their boards and incorporated into their business strategies. It would also require banks to use the cyberrisk management strategies in their business units and incorporate them into company audits. Under the proposal, institutions would also be required to establish and implement a plan that would allow them to continue to perform core business functions during a cyberattack."
  • Facebook embraces utility with food ordering and ticketing - Tech Crunch - "The more Facebook can become a place where you learn about and interact with businesses, the more it can accomplish its goal of connecting you with more than just people, and the more likely that businesses will pay to grow their visibility on the social network."
  • Mobile banking to grow to 2B users by 2020: report - Mobile Commerce Daily - "Mobile banking users are set to reach 2 billion by 2020, according to a new report from Juniper Research, suggesting that banks are placing as much effort on digital marketing and tools as traditional brands."
  • Mobile payments awareness up in North America, but usage remains flat - NFC World - "Nearly six in 10 North American consumers (56%) are now aware of mobile payment services — a 4% increase from this time last year, research from Accenture has revealed. However, the regular use of mobile payments remains flat at 19%, with 60% of consumers using cash at least weekly to make purchases at a merchant location."
  • Supporting New Mastercard 2-series BINs - Braintree blog - "Mastercard is introducing a new 2-series to their Bank Identification Numbers (BINs). A BIN refers to the first 6 digits of a credit card number and can be used to identify the card issuing institution. Up until now, Mastercard BINs have only been in the 5-series range, which begin with a 5."

ON THE WIRES

  • Citi Ventures Makes Strategic Investment in Feedzai, Provider of Data-Driven AI Fraud Prevention Technology - "Feedzai, a leading data science company shaping the future of fraud detection in commerce, today announced the close of a strategic investment from Citi Ventures, which accelerates innovation and growth at Citi. This investment will enable Feedzai to continue to expand its offerings to commerce and banking systems in new geographies."
  • Rambus Bell ID Simplifies Tokenization Management for Banks - "In response to the increasing complexity and fragmentation of the near field communication (NFC) mobile payments ecosystem, Rambus Bell ID – part of the Rambus Security Division – has launched Token Gateway. Issuing banks can now manage tokenization activity for the ‘OEM Pay’ mobile wallets through a single software platform. This significantly simplifies and consolidates integration with the multiple token service providers (TSPs) operated by third parties, like international and domestic payment schemes."
  • Newly Launched Travel Innovation Hub from CellPoint Mobile Will Develop Blockchain Applications for Travel-Sector Payments and Services - "Potential products will include a unified and secure passenger ID created from existing verified data (e.g., passports, visas, IDA, licenses, company and payment data, airline and travel records, loyalty program memberships and more); loyalty products that use blockchain processes to streamline and protect earn-redeem transactions in airline and travel loyalty programs; and payment products that integrate blockchain authentication, digital wallet blockchain payment processors and other services directly from CellPoint Mobile's payment orchestration layer. "
  • SecureKey Completes $27 Million Strategic Investment Round - "SecureKey Technologies Inc., a leading provider of identity and authentication solutions, today announced that it has raised $27 million CAD in growth capital to fund the commercial rollout of a privacy-enhancing digital identity network. Teaming up with SecureKey on this initiative and participating in the funding round are leading financial institutions: BMO Bank of Montreal, Bank of Nova Scotia, CIBC, Desjardins, Royal Bank of Canada and TD."
  • 40% Of Millennials Upgrade Their Wearable Device Every 6-12 Months - "Many millennials tend to replace their wearable devices, even if they’re still working. Four in 10 (40%) millennials replace their wearable every six months to a year, based on a new global study."
  • Drive Traffic, Speed Mobile Payments with FIS BuyWay - "BuyWay acts as a single point of integration, engaging secure, cloud-based technology that connects apps on a consumer’s digital device or car to a merchant’s point-of-sale (POS) system – eliminating the need for retailers to purchase new hardware. It adds payment functionality to merchant apps, speeds up purchases by eliminating physical contact with the POS and increases security because no card data is passed through the POS. As a single point of integration, it also simplifies deployment and opens new sales opportunities. Importantly, it can be integrated into loyalty rewards programs, allowing instant rewards that drive customer loyalty and complete the customer purchase journey."
  • Fifth Third Bank Launches Comprehensive Electronic Card Payables Solution for Commercial Clients - "As a leader in commercial payments, Fifth Third Bank (NASDAQ: FITB) has launched Fifth Third ePay, an upgraded electronic accounts payable (EAP) solution for commercial card clients using virtual card numbers for payment. Fifth Third ePay enables clients to take advantage of electronic accounts payables and meets evolving client needs. Fifth Third ePay provides clients with multiple options for supplier payments, visibility into account and payment status, and program controls for fraud and risk mitigation."
  • Thales Survey reveals 88% would stop using digital payments if breached - ""It's easy to see why mobile payments continue to grow in popularity – they are fast and convenient," said Jose Diaz, director of payment strategy at Thales e-Security. "But results of the survey showed that people have strong doubts about their safety, especially while traveling. The mobile payments industry needs to take note that their future success is based on trust. And that trust can easily fail if they do not provide the strong protection of their infrastructure, transactions and data that customers expect.""

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

October 18, 2016

Headline News from PaymentsNews.com - October 18, 2016

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

ON THE WEB

  • Visa CEO Scharf Resigns, Replaced by Ex-AmEx President Kelly - Bloomberg - "Visa Inc. Chief Executive Officer Charlie Scharf said he’s resigning from the San Francisco-based firm to be closer to family on the East Coast, passing control to board member Alfred F. Kelly and ending a tenure in which the stock doubled."
  • Blockchain Biometrics Startup Raises $3 Million in New Funding - Coindesk - "While not the only area of focus for HYPR – the startup is also pitching its technology for broader use in IoT and cloud computing applications – it's an area that some advocates have said could play a role in developing means for putting identity on the blockchain."
  • Apple Seeks to Promote Cashless Society - WebProNews - "Apple's CEO sees Apple Pay as the beginning of the end of cash worldwide. "We would like to be a catalyst for taking cash out of the system," said Cook. "We don't think the consumer particularly likes cash.""
  • Google Shopping partners with ecommerce platforms to make selling online easier than ever this holiday season - Google Inside Adwords - "Today, we’re excited to announce partnerships with three major ecommerce platforms -- BigCommerce, PrestaShop, and Magento -- to make it easier than ever before to get started on Google Shopping for the holidays, and beyond. If you’re using any one of these platforms (or if you’re thinking of using one of these platforms), our new partnerships let you easily submit your product information to Google Shopping and quickly reach millions of new customers searching for what you sell."
  • Self-Checkout Skimmers Go Bluetooth - Krebs on Security - "Here’s a look at one overlay skimmer equipped with Bluetooth technology that allows thieves to snarf swiped card data and PINs wirelessly using nothing more than a mobile phone."

ON THE WIRES

  • Are Banks an Endangered Species? Survey Shows that Majority of Americans Believe that Traditional Banks Aren't Keeping Up with the Times - "As it turns out, the majority (57%) believe that traditional financial institutions as we know them will cease to exist within their lifetime while nearly 70% believe that it's FinTech solutions that are making their lives and financial health better. Blumberg Capital, a San Francisco based early-stage venture capital firm, today released findings that paint a tumultuous future for traditional financial institutions that aren't embracing new technology as more and more Americans migrate toward the innovative products and services offered by emerging FinTech companies. "
  • Elavon and Poynt Offer Best-in-Class Smart Terminal for Small and Mid-Sized Businesses - "U.S. Bancorp subsidiary Elavon and California-based Poynt today announced a partnership to offer one of the most advanced payment devices available to small to mid-sized businesses in the U.S., featuring the latest in payment acceptance technology, pre-installed security features and a broad range of mobile capabilities."
  • Mobile Payments Awareness Grows, Cash Use Declines; Consumers Demand More to Make the Leap to Mobile, Accenture Survey Finds - "Sixty percent of consumers in North America use cash at least weekly to make purchases at a merchant location, down seven percentage points from 2015 – the most significant decline in use of traditional payment methods over the past year, according to a new report from Accenture (NYSE:ACN). Awareness of mobile phone payments increased four percentage points from last year to 56 percent, however the regular use of mobile payments remains flat at 19 percent."
  • LexisNexis Risk Solutions Global Millennials Report Indicates Need for Companies to Adopt New Approach to Identity Verification - "The study upends some previously held assumptions about Millennials, including its finding that, despite their digital connectivity, Millennials are extremely guarded about sharing their personal information. A chasm exists between Millennials' desire for secure access on all connected devices and their discomfort and unwillingness with sharing data—a wake-up call that businesses need to find ways and solutions that minimize the amount of data they collect."
  • Verifone Leads Effort to Define and Implement the Newest Conexxus Mobile Payment Global Standard for Loyalty - "Working with mobile payment early adopters to define a standard interface, Verifone was instrumental in creating an open API that all mobile payment providers and POS manufactures can implement. Verifone and its partners are now deploying open mobile payment solutions across a wide variety of applications including retail branded apps and direct ACH payment at the pump with community banks."
  • Gilbarco Veeder-Root, Xpedient and P97 Partner to Deliver a Mobile Commerce Solution - "Gilbarco Veeder-Root, Xpedient LLC and P97 have partnered to enable the next advancement in Payment, Loyalty and Food Ordering from a mobile device. P97's PetroZone® solution for Mobile Payment and Digital Offers has been tested and certified with the Gilbarco Passport® Point of Sale. This new, mobile commerce solution is based on the Conexxus Standard Interface, and mobile ordering has been integrated through an API provided by Gilbarco's Food Service partner, Xpedient LLC."

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are in Palo Alto, CA. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

October 17, 2016

Headline News from PaymentsNews.com - October 17, 2016

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

ON THE WEB

  • Apple Pay arguments against Oz banks ‘superficial and unconvincing’ - Payments Cards and Mobile - "Apple would naturally prefer to deal with card issuers on an individual basis using the ‘take it or leave it’ approach that it has used successfully in other countries. However, its arguments against the collective negotiation are superficial and unconvincing,” the banks said in their response."
  • Korean Credit Card Giant to Integrate Blockchain Identity Service - Coindesk - "The service will be based on what Coinplug calls FidoChain, a “private blockchain technology” aimed at providing a distributed means of verifying and maintaining digital identities. KB Koomkin Card, a subsidiary of KB Koomkin Bank, plans to complete its integration by the end of this year."

ON THE WIRES

  • American Express Launches “Amex for Developers” Portal - "American Express (NYSE: AXP) today announced the launch of Amex for Developers, a new portal providing a single point of access to company APIs and developer resources in such categories as payment services, customized experiences, data intelligence and fraud prevention. The portal is launching with an initial set of products; ongoing releases are expected to include additional products in new categories."
  • Nautilus Hyosung America Launches Industry's First Mobile App for ATM Operators and Distributors - "Nautilus Hyosung America (Hyosung), the largest and fastest growing ATM provider in the United States, today announced the availability of its new, patent-pending mobile application, for the ISO/IAD channel. MoniMobile allows ATM operators and distributors to manage Hyosung ATMs remotely with the greatest level of ease and efficiency."

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

October 14, 2016

Headline News from PaymentsNews.com - October 14, 2016

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

ON THE WEB

  • ACI is Steadily Paving the Way for Central Bank Blockchains - Coindesk - "Constructed on a five-node network that runs on servers in Omaha, Nebraska, and Norcross, Georgia, ACI has built a blockchain proof-of-concept specifically designed to simulate how a central bank and four financial institutions could transact on a blockchain."
  • Cards in space: Nationwide takes contactless to the edge of the earth - Finextra (re-posted just for fun) - "At an altitude more than three times higher than Mount Everest and as cold as Antarctica, Nationwide worked in partnership with First Data to develop a specially designed Clover Mobile terminal to process the pioneering transaction."

ON THE WIRES

  • Raintree Systems Partners with TransFirst® - "Raintree Systems, a provider of highly-configurable, comprehensive EMR/EHR and Practice Management software and services solutions, has partnered with TransFirst, a leading provider of transaction processing services and payment enabling technologies."
  • PayBySky Launches World`s First Autonomous Parking Payment Service for Calgary's ParkPlus System - "PayBySky uses a small in-vehicle device called a 'Skymeter' to pinpoint a vehicle's exact location so it can then make an automatic parking payment on your behalf using Calgary Parking Authority's ParkPlus account."
  • International Card Establishment launches disruptive payment technology for the MJ sector plus grows and funds operations - "The company's core business is providing credit card processing, point of sale systems and online services for business providing legal and recreational marijuana across five states. The company started talks with three bitcoin companies in the last month to integrate bitcoin wallet and QR payments to its NetOne point of sales system. The company plans to finalize an agreement and will announce to shareholders once inked."
  • Glance Pay Announces First Step in US Expansion - "“Glance Pay is experiencing strong growth in Vancouver and we are eager to bring Glance Pay to major cities across Canada and the United States,” says Penny Green, Glance’s Chief Operating Officer, “Now that we have set up our US subsidiary, our next step will be to form alliances in the US to set up Glance Pay for rapid growth.”"

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

October 13, 2016

Headline News from PaymentsNews.com - October 13, 2016

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

ON THE WEB

  • PHH v. CFPB: A Blessing in Disguise for the CFPB - Credit Slips - "The CFPB lost on the decision's rhetoric, but won on the practical implications. Although the CFPB’s current structure was declared unconstitutional, the court also immediately remedied the flaw by declaring that the CFPB Director is now removable by the President at will, rather than only "for cause" as provided for by the Dodd-Frank Act. "
  • Goldman’s Online Consumer-Lending Platform Goes Live - Wall Street Journal - "The service puts Goldman in direct competition with so-called fintech upstarts such as venture-funded online lenders LendingClub Corp. and Avant Inc. Those have arisen since the financial crisis to fill a void left by banks, who stepped back from parts of the personal-loan market after 2008."
  • Growth Of Multi-Channel And Omni Channel Payments - Point of Sale News - "A shift in shopping is occurring, and small business retailers need to adopt a strategy to keep up with the shift. The shift is being driven by the rise of the smartphones, like the iPhone, the speed of telephone networks, the growth of online shopping, and growth of new payment types like Apple Pay and EMV. "
  • Nets Shares Drop as Nordea Teams Up With Danske on Payment App - Bloomberg - "Nordea Bank AB has dropped the electronic payment system it was developing with Danish banks and will instead team up with its main rival in Scandinavia, Danske Bank A/S, to use its more popular MobilePay product."
  • IoT Devices as Proxies for Cybercrime - Krebs on Security - "Multiple stories published here over the past few weeks have examined the disruptive power of hacked “Internet of Things” (IoT) devices such as routers, IP cameras and digital video recorders. This post looks at how crooks are using hacked IoT devices as proxies to hide their true location online as they engage in a variety of other types of cybercriminal activity — from frequenting underground forums to credit card and tax refund fraud."

ON THE WIRES

  • Institutions In 6 Asia-Pacific Countries Adopt UnionPay Chip Card Standard - "his agreement signing is of great significance: First, it means that the cooperation between UnionPay and payment industries outside mainland China has upgraded from business cooperation to comprehensive partnership in product and standard. Second, it helps the payment industries in these markets upgrade, and paves way for the roll-out of UnionPay's innovative payment products. Third, it helps enhance the competitiveness of China's payment industry."
  • American Express and Intuit Help Small Businesses Tackle Cash Flow Crunch - "Intuit Inc. (NASDAQ:INTU) and American Express today announced a partnership that will give qualified QuickBooks Online small business customers who are also American Express OPEN® Business Card Members access to short-term, low-cost financing from American Express to pay vendors and ease the cash flow crunch. This unique partnership will make American Express Working Capital Terms the payables financing solution for QuickBooks Online customers."
  • ACI’s UP Immediate Payments Helps TransferWise Connect to Faster Payments Scheme - "ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, today announced it has provided the back-end technology for TransferWise’s successful integration into the Faster Payments Scheme."
  • Slice Launches New App That Gives Local Pizzerias Mobile Ordering Technology To Compete With Big Chains And Enables Pizza Lovers Nationwide To Easily Order Authentic Pizza - "Slice (www.SliceLife.com), the platform that connects people with authentic local pizzerias, today announced the launch of its new ordering experience and iOS app. Slice is designed to build rewarding relationships between independent pizzerias and pizza lovers who want the convenience of mobile ordering and payment."
  • Seventy-Nine Percent of Diners Say Technology Improves Their Restaurant Experience - "Seventy-nine percent of consumers agree that technology improves their restaurant experience, according to a survey conducted by Toast Restaurant POS, the all-in-one restaurant technology platform. The finding was unveiled as part of the Toast Restaurant Technology in 2016 Dining Report, released today, which analyzes responses from more than 1,100 diners, revealing how they feel about consumer-facing technologies in the restaurant space – including identifying the technologies they use most frequently, and those they could do without. "
  • Jack Henry & Associates Introduces Electronic Bill Presentment and Payment Solution - "Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its JHA Payment Solutions™ group today announced the availability of JHA EPS SmartPay Biller Direct℠, an electronic bill, invoice and payment solution."

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

October 12, 2016

Headline News from PaymentsNews.com - October 12, 2016

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

ON THE WEB

ON THE WIRES

  • Nok Nok Labs Delivers Comprehensive, Risk-Based Authentication - "Nok Nok Labs, an innovator in modern authentication and a founding member of the FIDO Alliance, today announced the launch and availability of the Nok Nok™ S3 Authentication Suite - Premium Edition. The S3 Suite is the first unified platform enabling organizations to leverage standards-based authentication that supports existing and emerging methods of biometric authentication such as fingerprint, iris and voice. The Premium Edition of the S3 Suite provides organizations with an improved customer experience for mobile consumers, stronger security and lower fraud costs through risk-based authentication supporting all current and future FIDO protocols."
  • NFC Forum Technical Specifications Improve RF Communication and NFC Tag Interoperability with NFC Devices - "The NFC Forum announced today the availability of one adopted and four candidate technical specifications, following approval by the Board of Directors. The specifications are available on the NFC Forum website. Formerly a candidate specification, the Analog 2.0 Technical Specification delivers new capabilities that support improved RF communication to ensure interoperability between Near Field Communication (NFC) devices and existing RF infrastructure and cards based on the ISO/IEC 14443 and ISO/IEC 18092 standards."
  • PSCU Selects Qlik to Help Support Strategy for Service Delivery Excellence - "Qlik®, a leader in visual analytics, today announced that PSCU, an award-winning and leading provider of financial services and payment solutions to credit unions, has deployed Qlik Sense® to drive greater efficiencies across the service organization. By leveraging Qlik Sense, PSCU is able to aggregate large amounts of operational performance data from various sources such as frontline applications, databases and surveys. That data provides decision makers near real-time information to make tactical, data-driven business decisions that support PSCU’s vision of providing an unparalleled member experience."

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

October 11, 2016

Headline News from PaymentsNews.com - October 11, 2016

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

ON THE WEB

  • Wells Fargo Managers Pushed Overdraft Services - Wall Street Journal - "Wells Fargo & Co. managers pushed bankers to sign up customers for potentially costly overdraft protection that they didn’t always need or realize they were getting, according to current and former bankers and managers."
  • Watch the first episode of our new series Trust Disrupted: Bitcoin and the Blockchain - Tech Crunch - "We have a new series launching this week called Trust Disrupted: Bitcoin and the Blockchain. The six-episode series examines the rise of Bitcoin and the tech that allows it to operate. The first episode will answer all your questions about the Bitcoin platform and how it works. Why did futurists want to create a totally digital currency? How would it work? What will the effects of Bitcoin and the blockchain have on the future of our economy?"
  • Facebook lets users make purchases from brands directly through Messenger app - Mobile Commerce Daily - "The social media giant will now let consumers who engage with brands through the Messenger app purchase products with the tap of a button. The new capability is brought about by a partnership with Shopify."
  • Wells Fargo Forms Tech-Payments Group, Promotes Two Managers - Bloomberg - "Wells Fargo & Co. combined corporate payments and some consumer-banking operations with the technology-innovations group, creating a unit run by the former leader of consumer lending, Avid Modjtabai."
  • Credit Unions Turn to Blockchain Amid Increasing Competition - Coindesk - "A less-discussed type of financial entity, the credit union service organization (CUSO), has emerged as an unlikely – but significant – player in the industry’s CU Ledger blockchain initiative."
  • Facial Recognition Software Advances Trigger Worries - Wall Street Journal - "But the technology comes with a darker side. One of the company’s products touched off a privacy scandal in Russia, and the founders say they are in negotiations to sell its products to state-affiliated security firms from China and Turkey, among other countries, many of whom have spotty records of protecting civil liberties."

ON THE WIRES

  • Trailblazing in Tech: Hispanic Consumers Reveal Mobile-First Mindset, Early Adoption of Fintech - "Hispanic consumers are significantly more likely to engage with mobile to manage their finances, with 78 percent using a mobile banking app, compared to approximately half (51 percent) of non-Hispanics. What’s more, nearly three-quarters (69 percent) of the Hispanic community cite digital as their primary method of banking."
  • QuickBooks Self-Employed Helps Freelancers Get Paid Faster With Effortless Invoicing - "Invoicing has been the top requested feature from QuickBooks Self-employed users. Research shows that freelancers are owed an average of $10,000 in unpaid invoices, and spend 36 hours tracking down each missing payment. Now QuickBooks Self-Employed users will be able to take advantage of functionality that has already helped QuickBooks Online users get paid 15 days faster."
  • Fifth Third Bank Launches New Consumer Credit Cards - "Fifth Third understands that consumers want simplicity in their financial lives. So today Fifth Third is introducing two new credit card products, TRIOSM and Truly SimpleSM, that are easy for consumers to understand, use, and maximize their benefits."
  • To Go Stores selects P97 to transform Puerto Rican Pay at the Pump Experience - "The mobile deployment will take full advantage of P97’s strategic partner Verifone’s, new Commander Electronic Payment Server/Forecourt Controllers, which are being installed at all sites to ensure the in-store Point of Sale systems are EMV compliant and enabled with the Conexxus mobile standard. Rapid and secure mobile account authentication is supported by Microsoft’s Azure B2C and payment accounts are enabled instantly with the PetroZone integration by Automated Clearing House (ACH) provider BIM (Buy It Mobility)."

GLENBROOK AT MONEY2020

We're at Money2020 and we'd love to get together. If you have a payments challenge, want to know more about our Glenbrook payments education programs, or have a great story to tell, get in touch so we can schedule a meeting.

Faster payments of interest? Then join Glenbrook's Elizabeth McQuerry as she moderates the panel called Uses & Business Case for Faster Payments at 9:30 on Monday, October 24.

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

October 10, 2016

Headline News from PaymentsNews.com - October 10, 2016

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

ON THE WEB

  • Amazon’s Alexa aims to be a bank teller, insurance agent, too - Boston Globe - "Fidelity Investments is letting customers check their account balances by speaking with Alexa. Virginia-based Capital One earlier this year let its customers pay their mortgage and car loans using Alexa. And FIS, a Florida company that provides technology for hundreds of banks, is piloting similar Alexa-compatible technology across the country, including in Massachusetts, that it plans to release next year. “We think it’s got a lot of potential,” said Doug Brown, a senior vice president at FIS. “This is a rapidly expanding ecosystem.”"
  • IMAGINING A CASHLESS WORLD - The New Yorker - "In 2013, Sweden eliminated its largest-denomination bill, and demand for its second-largest bill, the five-hundred-krona note (about sixty dollars), surprisingly fell off soon afterward. By 2014, only a fifth of Swedish retail transactions were being conducted in cash. (In the U.S., it’s slightly less than half.) Swedish ticket machines for trains and buses usually take only cards; increasingly, cafés and bars and restaurants refuse cash, too. About half of the country’s bank branches don’t allow withdrawals or deposits in bills. As of a few years ago, “you could see the first signs of Sweden moving toward a true cashless society,” Jacob de Geer, who runs the pan-European, Square-like transaction service iZettle, told me recently. “Many of the smaller shops started putting signs up on their doors saying ‘We Don’t Accept Cash.’ ” "
  • OnStar subscribers can now make mobile payments through car app - Mobile Commerce Daily - "The new feature will be available on all of GM’s mobile apps and lets users make purchases from a variety of retailers and restaurants through their phones. The payment system will use a system called AtYourService and will be powered by Sionic Mobile."
  • Securing CSP Networks from the Next Wave of Threats - Telecom Engine - "Mobile payments is another area that is growing rapidly but potentially brings added risk for carriers. Contactless payment services are a natural fit for communications carriers, and many are partnering with technology companies, credit card issuers, banks and retailers to develop mobile payment systems that can drive new revenue streams. But the adoption of new payment systems might bring unexpected security risks."
  • Europe to Push New Security Rules Amid IoT Mess - Krebs on Security - "The European Commission is drafting new cybersecurity requirements to beef up security around so-called Internet of Things (IoT) devices such as Web-connected security cameras, routers and digital video recorders (DVRs). News of the expected proposal comes as security firms are warning that a great many IoT devices are equipped with little or no security protections."

ON THE WIRES

  • Acquisition of the retail business of Citibank in Brazil - " Citibank (with 71 branches) offers financial products and services to individuals in the retail segment in Brazil, including checking accounts, loans and credit cards, comprising approximately a client base of 315,000 checking account holders, R$ 35 billion in deposits and assets under management (gross amounts on the base date of December 31, 2015), 1.1 million credit cards and a loan portfolio of R$ 6 billion. With this acquisition, Itaú Unibanco's assets will reach to R$ 1,404 billion. The impact on Itaú Unibanco's core capital resulting from this transaction is estimated at approximately 40 bps (Basel III Full Ratio)."
  • Seamless Distribution AB: SEQR launches Contactless Payments and Gocardless Service in the UK – SEQR customers can pay from bank account at 500,000 points of sale - "As of today SEQR customers in the UK are now able to quickly and simply link their bank account to the SEQR app and make payments directly from their bank account. Until now UK customers have enjoyed the benefits of the SEQR pre paid account functionality, however enabling customers to connect their bank account opens SEQR up to millions more customers who prefer direct payment over a pre paid option."
  • Apriva Completes EMV Certification of Ingenico Group Terminals to TSYS - "Apriva, the leading provider of secure end-to-end wireless transaction processing solutions, today announced it has completed EMV certification with TSYS® Acquiring Solutions (NYSE: TSS) for Ingenico Group’s Telium2 smart terminals connecting through the Apriva Gateway."
  • Discover® to Match Cardmember Donations for Hurricane Matthew Relief Efforts - "Discover Financial Services (NYSE:DFS) announced today that it is pledging up to $500,000 to the American Red Cross for Hurricane Matthew relief efforts through a cardmember donation matching program. For every cardmember who donates to the American Red Cross using their Cashback Bonus®, or by making a donation with their Discover card, Discover will match those donations dollar-for-dollar up to $500,000. Discover is also waiving the transaction fees on all credit card donations to the American Red Cross for the immediate future."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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

October 07, 2016

Headline News from PaymentsNews.com - October 7, 2016

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

ON THE WEB

  • Staples adopts Apple Pay for Web after in-app success - Mobile Commerce Daily - "Office supplier Staples is investing more in Apple Pay for online purposes after it saw 30 percent of its mobile application sales coming through the mobile pay program, but its in-store usage is lacking."
  • Optimizing Transaction Speed at the Point of Sale - EMV Connection - "As chip cards continue to be issued and chip-enabled terminals continue to appear at merchant locations across the U.S., many cardholders and merchants are having varied responses to their chip transaction experiences. A common response heard across the industry is the inconsistent speed observed during an EMV transaction, where a chip transaction might take a couple seconds at one merchant but 20 or more seconds at another."
  • Nasdaq Wants to Patent Blockchain Backups for Exchanges - Coindesk - "Nasdaq is looking to patent a method by which a blockchain could be used to secure records of exchange transactions. On 6th October, the US Patent and Trademark Office (USTPO) released an application for "systems and methods of blockchain transaction recordation", originally submitted by Nasdaq on 31st March."
  • Bringing Home the Bacon with a Good Card Program - FIS blog - "Over the last five or six years, card usage has grown enormously. Debit card usage is up over 50 percent, while credit cards up by just under 30 percent, according to The Nilson Report from Dec. 2015. These upward trends look set to continue to the end of the decade as card penetration continues its steady growth."
  • PwC: Digital And Mobile Holiday Spending Will Jump 25% - Retail Touch Points - "Furthering the need for retailers to bolster their store experiences, both e-Commerce and mobile sales are set to skyrocket, increasing by 25% each. With more shoppers expected to buy through digital channels in the 2016 holiday season, retailers need to ensure that this growth doesn’t cannibalize their brick-and-mortar presence. However, brands are encouraged to continue optimizing e-Commerce and mobile experiences to include frictionless, one-click checkout and easy access to store inventory."

ON THE WIRES

  • AFSA urges changes to CFPB's proposed small dollar rule - "The American Financial Services Association (AFSA) has submitted its 37-page comment letter to the Consumer Financial Protection Bureau (CFPB) urging the federal regulator to preserve consumers’ access to safe and affordable traditional installment lending (TIL) by modifying the Proposed Rule on payday, title loans and certain high-cost installment loans."
  • From the Trenches: Current Status of Security and Risk in the Financial Sector - "Ransomware, identified by 55% of respondents, has eclipsed spearphishing (50%) as the top attack vector for the first time. Such attacks have caused considerable damage, with 32% of survey respondents citing losses between $100,001 and $500,000 as a result of their breaches."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City. See our fall schedule here. We hope to see you there!

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

UPDATES FROM GLENBROOK

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