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Payments News - Headline News

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April 27, 2015

Headline News from PaymentsNews.com - April 27, 2015

On the Web:

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

On the Wires:

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

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

April 24, 2015

Headline News from PaymentsNews.com - April 24, 2015

On the Web:

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

On the Wires:

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

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

April 23, 2015

Headline News from PaymentsNews.com - April 23, 2015

On the Web:

On the Wires:

  • AT&T Access More Card from Citi Featuring a New Exclusive Smartphone Offer Now Available - “Whether talking, texting, shopping or paying – we know our customers rely upon – and love – their smartphones,” said Ralph Andretta, Head of North America Branded Cards, Citi. “With the AT&T Access More card, you can earn a statement credit for a brand new phone and get more points every time you make a purchase from AT&T or shop online – on any device.”
  • Heartland Collaborates with PAX to Offer Secure EMV Terminals for Merchants - "The Heartland Secure PAX terminals are the latest development in our partnership of making security and technology available to merchants. The PAX POSLink semi-integrated configuration and the PAX S300 provide an exceptional solution to ISVs and VARs that are looking to reduce the complexity of payments support as well as PCI exposure."

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

April 22, 2015

Headline News from PaymentsNews.com - April 22, 2015

On the Web:

On the Wires:

  • eBay Inc. Reports First Quarter Results - "We had a strong first quarter, with eBay and PayPal off to a good start for the full year," said eBay Inc. President and CEO John Donahoe. "I feel very good about the performance of our teams at eBay and PayPal. Each business is executing well with greater focus and operating discipline as we prepare to separate eBay and PayPal into independent publicly traded companies. We are moving forward with clarity and speed, with a smooth separation expected in the third quarter. We are deeply committed to setting up eBay and PayPal to succeed and to deliver sustainable value to our shareholders."
  • NACHA Announces 2015 Payments System Awards Recipients - “NACHA is proud to recognize New York City CPRS, Verifone and Wells Fargo as recipients of the 2015 Payments System Awards,” said Janet O. Estep, president and CEO of NACHA. “They each have contributed significantly to leadership and excellence in payments by finding innovative ways to evolve their processes and products to meet the needs of a changing industry.”
  • First Data and Sam’s Club Collaborate to Fuel Small Business Growth - “With this expanded agreement, First Data is making a significant commitment to millions of Sam’s Club members who currently operate or are looking to open a business in the U.S.,” said Chris Foskett, Head of Global, Strategic and National Accounts at First Data. “Extending this relationship with Sam’s Club gives us the opportunity to enable more business owners and operators to achieve their dreams.”
  • Wells Fargo Startup Accelerator Taps 3 New Early-Stage Companies - “If a startup can sell its idea to us,” said Steve Ellis, Wells Fargo head of Wholesale Services, “they can sell it to a lot of other banks, which can benefit the entire financial services industry.”
  • OTG and NCR Introduce Tech-enhanced Airport Shopping Experience - “NCR’s consumer transaction technologies enable us to offer our customers more control over their experience,” said OTG CEO Rick Blatstein. “We continue to introduce technologies that our customers are familiar with, such as self-checkout and mobile payment options like Apple Pay, which allow our crew members to spend more time on hospitality.”
  • Open Identity Exchange Launches OIXnet: A Global Registry for Trust Frameworks - “Trusted transactions are the engines of online services,” said Don Thibeau, OIX Chairman and President. “Like an Underwriter Lab’s seal of approval on products, OIXnet is a neutral, open online registry that enables a similar level of trust and discovery at Internet scale for a wide variety of trust frameworks.”
  • Green Dot Awarded New Mobile Patent, Expanding its Patent Library Related to Secure and Geo-Location-Aware Devices - "Green Dot Corporation today announced the issuance of U.S. Patent No. 8,989,778, a patent that is directed to secure and private location sharing for location-aware mobile communication devices."

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

April 21, 2015

Headline News from PaymentsNews.com - April 21, 2015

On the Web:

  • Chip-Card Rollout Has Banks, Retailers Scrambling - Wall St. Journal - "Some 575 million of the new cards—representing about three-quarters of U.S. credit cards and about 40% of debit cards—are expected to be in the wallets of American consumers by year-end, making it the biggest rollout of new cards in decades."
  • Why We Still Use Checkbooks to Pay the Rent - Bloomberg - "Despite the convenience to landlords and tenants of managing lease payments digitally, 70 percent of U.S. renters still pay by check, according to PayLease, another e-rent facilitator."
  • Costco Gets a Lift by Adding Card Acceptance to Food Courts - Digital Transactions - "Costco quickly saw big lifts in average tickets at the food courts—PIN-debit sales came in 40% higher than the average cash ticket, and the average AmEx ticket was 50% higher than the average cash sale."
  • India Tech Startups: Seven Things That Blew My Mind - Re/code.net (Jason Del Rey) - "You’ll hear more from me in the coming weeks as I document my visit. For now, here’s some of the stuff that surprised this first-time visitor to India’s thriving tech scene."
  • Raytheon to Plow $1.7 Billion Into New Cyber Venture - Wall St. Journal - "Raytheon Chief Executive Tom Kennedy said the threat of cyberattacks such as the one suffered last year by Target Corp. is increasing as cloud computing and mobile services make companies more vulnerable to costly electronic intrusions by state-sponsored hackers, terrorists, organized crime or insiders."
  • Bitcoin Vs. Wall Street: A Love-Hate Story - TechCrunch - "Wall Street’s influence can bring bitcoin to the mainstream, and bitcoin can help bankers provide better banking services that are efficient and trustworthy."

On the Wires:

  • Capital One and Uber Partner to Bring Simplicity and Savings to Customers - "We're thrilled to partner with Capital One, a company that shares our vision of creating elegant, simple solutions to meet important consumer needs," said David Richter, Vice President, Strategic Initiatives, Uber. "Together, we'll provide a meaningful combination of savings and convenience to millions of customers."
  • Vodafone M-Pesa and MTN Mobile Money Agree to Interconnect Mobile Money Services - "This interconnect collaboration between the region’s two biggest mobile money operators will enable convenient and affordable international remittances between M-Pesa customers in Kenya, Tanzania, Democratic Republic of Congo and Mozambique, and MTN Mobile Money customers in Uganda, Rwanda and Zambia."
  • PayPal Announces Two Strong Additions to PayPal Leadership Team - "Louise Pentland will become PayPal’s new General Counsel." "Jonathan Auerbach has been named PayPal’s Senior Vice President of Strategy and Growth."
  • AICPA Survey: One-in-Four Americans Victimized by Information Security Breaches - “The increase in data breaches affecting personal information has given consumers significant cause to be cautious about their activities, both online and off,” said Ernie Almonte, chair of the AICPA’s National CPA Financial Literacy Commission. “Data breaches have the potential to seriously affect consumers’ finances and wreak havoc on their credit scores. The good news is that we are seeing Americans taking steps to safeguard their information and reduce their susceptibility to these attacks.”
  • Protect Your Bubble Improves the Customer Experience with Vindicia CashBox - “At Vindicia, we’re proud to be a part of the way Protect Your Bubble improves the experience of purchasing protection plans for consumers,” said Bryta Schulz, senior vice president of marketing for Vindicia. “CashBox overcomes the billing complexities that can frustrate consumers. Billing processes are more efficient with CashBox, but more importantly, it supports higher levels of customer satisfaction and retention.”

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

April 20, 2015

Headline News from PaymentsNews.com - April 20, 2015

On the Web:

  • The Year Of Mobile Payments - TechCrunch - "Expectations have changed. The proliferation of mobile money services shows that people – even the unbanked – demand better than the lengthy queues, cumbersome processes, and high fees offered by the incumbent international money transfer “super racket.”"
  • ICICI Bank launches ‘Tap n Pay’, a contactless payment service in arrangement with Tech Mahindra - Telecom Tiger - "‘Tap n Pay’ is a prepaid account, which can be availed by customers of any bank by simply registering for it and transferring money online from any bank account. ICICI Bank customers can also transfer money to the Tap-n-Pay account through an SMS. To start with, this solution is being offered at large campuses of corporate offices."
  • Samsung SDS enters biometric security business - Korea Times - "This system will be applied to all devices that need to receive user authorization such as smartphones, vehicles, IoT-based devices, door locks, smart homes, shopping, transaction and financial products," Kim said. "All corporate clients in those areas are our potential customers."
  • Westpac boss sees NZ as innovation lab - New Zealand Herald - "Westpac Group chief executive Brian Hartzer has embarked on a mission to transform the bank into a world-leading service company, with the Kiwi operations playing a Trojan horse role when it comes to innovations."
  • New Law to Strip Social Security Numbers From Medicare Cards - New York Times - “The Social Security number is the key to identity theft, and thieves are having a field day with seniors’ Medicare cards,” said Representative Sam Johnson, Republican of Texas...

On the Wires:

  • Verifone selects Thales to protect card holder data - "Thales, leader in critical information systems and cybersecurity, announces that Verifone now uses Thales nShield hardware security modules (HSMs) for its end-to-end payment encryption solution – VeriShield Total Protect – to provide robust, high speed, scalable crypto to protect card holder data, whether transmitted from a card or mobile device, right from the moment of capture."
  • GlobeOne Announces LOI with MetaBank to Bring New Mobile Banking Network to United States - "GlobeOne expects to launch in the United States and Mexico in the fourth quarter of 2015, and it will expand its integrated global network as new banking partners are secured around the world. GlobeOne’s innovative app will offer a no-minimum demand deposit account with debit card, a security savings account, a line of credit, domestic and international transfers between GlobeOne members, and access to the global income-building SocialBoost program, which gives members the opportunity to earn a new income stream while helping those who need it most."
  • WEX Virtual Payments Expands Currency Offering in Europe - Myles Stephenson, managing director of WEX Europe said, “We’ve listened to our customers’ needs and business challenges, and implemented a solution that provides even more cost-effective ways to make international payments. This update enables WEX Europe customers to pay their global suppliers in local currencies more efficiently.”
  • Entrust Datacard Enters Strategic Partnership with Financial Software and Systems (FSS) - Commenting on the partnership, Nagaraj Mylandla, managing director of FSS, said, “FSS has always been on the forefront of bringing new technologies to the payments domain in India. Today, banks in India are focusing on new technologies to build a deeper engagement with their customers. The hosted instant card issuance solution that we are introducing through our partnership with Entrust Datacard is one such technology that will assist banks in India to achieve service excellence.”
  • EastPay Launches Subsidiary, EastPay Advisory Services - "EastPay, a Regional Payments Association, has announced the formation of EastPay Advisory Services, a wholly-owned subsidiary that will provide payments risk management, compliance, and consulting services to financial institutions and businesses."

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

April 17, 2015

Headline News from PaymentsNews.com - April 17, 2015

On the Web:

  • Square’s Jack Dorsey Puts It All Together - BuzzFeed News - "Once a media darling, he hasn’t spoken on the record to the tech press since a New York Times interview in December of last year. It’s not that he’s been hiding, exactly, but he has lowered his profile considerably."
  • PayPal, OFAC, and why regulators play rough - WePay Blog - "When OFAC comes down, they come down hard. In PayPal’s case, that multi-million dollar fine came as the result of less than $50K in transactions over a period of years."
  • Accidental Apple Pay triggers: When iPhone and NFC don't get along - iMore - "But would it be too hard to have a "Dismiss" software button in the top right corner, in case Apple Pay is triggered accidentally? Or keep NFC from working when Airplane mode is enabled?"
  • Could the Chip Card Transition Lead to More Online and Small-Merchant Fraud? - n>genuity - Going forward, the trick will be keeping the checkout process both easy and secure, says George Peabody, a partner at Glenbrook Partners. "The challenge is friction from a checkout point of view. If merchants are looking for security perfection, then they are going to be turning away good sales."
  • PayPal Wants You to Inject Your Username and Eat Your Password - Wall St. Journal Digits - "In an interview with The Wall Street Journal, Mr. Leblanc said that passwords were broken, and that it was time to replace the concepts and methods of username and password verification."

On the Wires:

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

April 15, 2015

Headline News from PaymentsNews.com - April 15, 2015

On the Web:

On the Wires:

  • Ingenico Group Enables Long John Silver’s to Deploy an End-to-End Secure Payment Solution Combining EMV and Point-to-Point Encryption - “As we prepared for the advent of chip-based cards, we also wanted to implement a solution with point-to-point encryption (P2PE) to provide bulletproof security over our customers’ cardholder data, while also easing the process of meeting increasingly complex PCI requirements,” said Craig Daniel, chief financial officer for Long John Silver’s.
  • NCR Signals Massive Makeover to Banking with Highly Secure Cloud-Based ATM Software Platform - “NCR’s Kalpana software is the most disruptive change to the ATM ecosystem in decades. Business and consumer applications are increasingly turning to enterprise or cloud-based solutions that reshape security and enable fast, nimble and dynamic customer experiences,” said Andy Heyman, president, NCR Financial Services. “Kalpana software is ideal for financial institutions and independent ATM deployers looking to improve security, quickly advance service delivery through technology, and reshape their cost to serve.”
  • Trustonic and Mobeewave Partner to Provide Unprecedented Security Level in Mobile Payment - "Up to now mPOS solutions have not completely secured the interaction with consumers on mobile devices unless merchants used add-on devices. Now, just by downloading the Mobeewave mPOS application into merchant mobile devices supporting the Trustonic technology, the consumers will be able to securely tap their contactless card or smartphone against the merchant’s mobile device. The Trustonic TEE technology secures the interaction with the cardholder on the merchant’s device itself by leveraging the Trusted User Interface."

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

April 14, 2015

Headline News from PaymentsNews.com - April 14, 2015

On the Web:

On the Wires:

  • JPMorgan Chase Reports First-Quarter 2015 Net Income of $5.9 Billion - Jamie Dimon concluded: “JPMorgan Chase continues to support consumers, businesses and communities and make a significant positive impact. We have an outstanding franchise which is getting safer and stronger, and is gaining market share over time. We continue to build the company for the long-term, we are investing in controls, infrastructure, systems, technology, new products and bankers. We will continue to navigate challenges and deliver for our clients, shareholders and communities.”
  • Wells Fargo Reports $5.8 Billion in Net Income - “Our solid first quarter results again reflected the benefit of our diversified business model and the continued focus of our 266,000 team members on serving the needs of consumer and business customers," said Chairman and CEO John Stumpf. “We continued to strengthen our customer relationships in the quarter, as reflected in strong growth in deposits and primary checking customers. In addition, our mortgage business was able to serve more customers by refinancing their mortgage loans with lower rates."
  • Early Warning and BioCatch Align to Help U.S. Financial Services Organizations Fight Fraud and Improve Digital Experience - “Early Warning has taken yet another fundamental and unparalleled step in securing and optimizing digital financial transactions,” said Paul Finch, CEO of Early Warning. “Integrating BioCatch’s behavior analytics, plus our ability to authenticate consumers and their devices via the Mobile Network Operators, enables participating banks to provide a more seamless and secure digital experience for their customers as well as increase their own operational efficiencies.”
  • U.S. Bank Introduces Virtual Payment for Travel Intermediaries - “Automatic reconciliation is critical to our partnership with travel intermediaries,” adds Jeff Rankin, U.S. Bank global executive for Large Market and Public Sector Bankcard. “Our single-use account solution provides an alternative to central travel accounts, creating a 1:1 relationship between the booking data and the transaction data and reducing overhead. We are pleased to bring these capabilities to our clients and see their businesses grow as they serve their global customers in new and better ways.”
  • Synchrony Financial and Guitar Center to Introduce New Consumer Financing Program - "According to Synchrony Financial’s third annual Major Purchase Consumer Study, 72 percent of music shoppers always seek promotional financing, and 77 percent of respondents said that the availability of financing is “very important” when choosing a retailer. Musical instruments and gear also lead online purchases across the 12 categories included in the study."
  • New TNS Card Scheme Gateway Set to Accelerate UnionPay Acceptance Worldwide - Lisa Shipley, Executive Vice President and Managing Director of TNS’ PaymentNetwork Solutions, said: “We’re delighted to have secured this arrangement with UnionPay to establish this gateway to promote in-store card acceptance internationally. UnionPay is a significant player within the card industry globally and merchants and banks have long recognized the importance of being able to accept payments made via its card."
  • Kofax and Blackhawk Network Announce OEM Agreement - "Blackhawk Network has developed strong relationships with major retailers and payment systems which gives it a competitive edge in supporting digital wallets," stated Drew Hyatt, Senior Vice President of Mobile Capture Applications at Kofax. "Kofax Mobile Capture adds valuable user functionality to GoWallet and to Blackhawk Network’s digital platform, and benefits Kofax by adding Blackhawk to our growing list of mobile industry leaders.”

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

April 13, 2015

Headline News from PaymentsNews.com - April 13, 2015

On the Web:

On the Wires:

  • InstaMed Delivers Apple Pay to Healthcare - “Approximately 20 percent of consumers have unpaid healthcare bills as a result of confusion in the payments process. This will only grow as more and more consumers continue to enroll in high deductible health plans,” said Chris Seib, CTO and Co-Founder of InstaMed. “To resolve consumer confusion and rising bad debt, the healthcare industry must deliver a simple, secure and private payment process with innovative technology, including Apple Pay."
  • YapStone Names Daniel Issen as Chief Technology Officer - “We are thrilled to have Daniel join as YapStone’s CTO. He brings impressive technology and payments experience from his roles at past companies, including Amazon, Google, PayPal and eBay, and he’ll be instrumental to our growth,” said Tom Villante, Chairman & CEO and Co-Founder of YapStone.

Glenbrook's 2015 Payments Education Update!

Updates from Glenbrook:

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

April 08, 2015

Headline News from PaymentsNews.com - April 8, 2015

On the Web:

On the Wires:

  • Apple Pay Coming Soon to You: New Banks & Credit Unions Implement Mobile Payment Service for MasterCard Cardholders - “People are passionate about their devices and they’re ready for their connected devices to do more – including acting as a commerce device – as is evident by the positive reception and uptake of Apple Pay,” said Matt Barr, group head, U.S. Emerging Payments MasterCard. “Consumers want to be able to shop where they want, when they want and how they want – and they want to do so with the confidence that their money is safe and secure no matter how they choose to pay. Issuers are delivering on this by enabling their cards within emerging payment platforms like Apple Pay that deliver consumer choice.”
  • U.S. Bank Offers Prepaid Card Services for the American Red Cross - “Our prepaid card conversion to U.S. Bank will enable the American Red Cross to leverage technology in new ways,” said Steve Casey, corporate treasurer of the American Red Cross. “Most importantly, this new card technology will help the Red Cross deliver its mission more efficiently in communities across the country.”
  • Western Union Enables Skype Customers to Top up at Locations across the U.S. - Western Union’s Odilon Almeida, President, Americas and European Union, said, “The relationship is a logical one, as both Western Union and Skype have a mission to connect people when they are apart. “Western Union is optimizing its money transfer system to link cash and digital for money movement and payments across the globe. We are driving our innovation on the back of what our customers want. Skype is a classic example; where customers can enjoy full digital access with a walk-in payment option,” he said.

Glenbrook's 2015 Payments Education Update!

Updates from Glenbrook:

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

April 07, 2015

Headline News from PaymentsNews.com - April 7, 2015

On the Web:

On the Wires:

  • Early Warning to Acquire Authentify - "With Early Warning’s announced acquisition of Authentify and its 2013 equity investment and exclusive agreement with Payfone, the company has created a differentiated digital channels authentication solution suite that augments its identity and payments solutions."

  • Square: Introducing Powerful Online Marketing Tools for the Offline World - "... today we’re releasing a suite of powerful Customer Engagement tools uniquely suited for local businesses. Because you run your business with Square Register, these tools link your online marketing efforts to sales in the real world. With these tools comes Square Marketing, an easy and effective way to drive valuable foot traffic to your store."

  • Vouch Launches the First Social Network for Credit - "Led by a team of PayPal alumni and former banking executives, Vouch is on a mission to lower costs and increase access to financial power. The company allows anyone to bank on the trust they have already developed amongst their family, friends and colleagues to proactively build credit before they need it."

  • Jumio’s Netverify Speeds Up Account Verification Processes by Over 80 Per Cent for Optimal Payments’ NETELLER - Commenting on the deal Lorenzo Pellegrino, executive vice president of NETELLER, Optimal Payments said, “Our account verification process is now 80 per cent quicker, making it faster and easier for customers to pay online. Over three quarters of our account upgrades are now automatically processed through Jumio, saving hours of manual review time by our staff and benefiting our bottom line.”

Glenbrook's 2015 Payments Education Update!

Updates from Glenbrook:

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

April 06, 2015

Headline News from PaymentsNews.com - April 6, 2015

On the Web:

  • Wal-Mart Treasury Exec: Chip & Signature is ‘Worthless’ - AFP - "During a presentation at the Electronic Transaction Association’s Transact conference in San Francisco last week, Mike Cook, senior vice president and assistant treasurer for Wal-Mart, called signature “worthless as a form of authentication” and criticized the rollout of chip-and-signature cards in the United States."
  • More Prepaid Debit Cards Come Without Monthly Fees - Wall St. Journal - "A new survey released Monday by Bankrate.com found that prepaid debit cards are carrying fewer fees and offering customers more chances to avoid additional costs that may be tacked onto the account."
  • FacePay? - TechCrunch - "What if buying something was as easy as Liking it? You’d probably buy a lot more, and buy it through whoever made it so damn simple."
  • Big Investor Involvement Could Boost Bitcoin - Wall St. Journal - “They are all very interested, but it comes down to having some kind of regulatory clarity as well as to the technology available—whether you have something they feel is trustworthy, whether you have a big enough capital base, whether you have good enough technology...”
  • Hacking ATMs, Literally - Krebs on Security - "An ATM technician and KrebsOnSecurity reader shared photos of a recent attack in which three would-be robbers went to town on a wall-mounted cash machine with crowbars and hammers."
  • No cash, no cards - digital currencies and mobile wallets are the future of retail banking - Zawya - "At some stage there will be no cash, no cards, just mobile wallets - everything will be online. Finally digital currencies like Bitcoin, will dominate, at present there are 50,000 transactions a month resulting in billions of dollars of digital currency."
  • Is Mickey Mouse showing us the future of credit cards? - CreditCards.com - "About a year ago, Disney World began offering what it calls "MagicBands" to its annual pass holders and to guests staying at Disney resorts."

On the Wires:

  • Elavon Strengthens its Suite of EMV Offerings with Commerce SDK, Now Enhances Consumer Payment Experience with Apple Pay™ Powered by talech and Ingenico - "The Commerce SDK comprehensive kit accelerates a business’ ability to implement a secure, EMV-compliant payment solution by combining Elavon’s global payment processing, EMV certification coding, encryption and tokenization implementation and hardware support for printers, terminals and mobile devices into one package that is easy to integrate."
  • Brink’s and NetSpend Launch Brink’s Prepaid MasterCard - “Prepaid cards empower those without traditional banking relationships by equipping them with the tools, resources and education to take control of their financial lives and spend responsibly,” said Jeff Feuerstein, group head, U.S. Prepaid, MasterCard. “Access to reputable prepaid offerings from trusted brands such as Brink’s provide cardholders the opportunity to take advantage of all the benefits of electronic payments, including having a secure and convenient means of making purchases, tracking spending, setting budgets and more.”

Glenbrook's 2015 Payments Education Update!

Updates from Glenbrook:

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

April 03, 2015

Headline News from PaymentsNews.com - April 3, 2015

On the Web:

  • Trade Group Asks for Delay on Card-Security Plan - Wall St. Journal - "In a letter sent last week to Visa Inc.,MasterCard Inc.,American Express Co. and Discover Financial Services, the Food Marketing Institute said that merchants won’t be ready to meet an October deadline that will shift liability for fraudulent transactions from card-issuing banks to merchants."
  • Delta buckles up with Alipay as airlines tap mobile payments - Mobile Commerce Daily - "The strategy will see Delta become the first United States-based carrier to integrate Alipay onto its Web and mobile site, proving the brand’s ongoing efforts to better cater to Chinese customers."
  • Angel investors & VCs finally warm up to Bitcoin in India - Economic Times Tech - "The murky silhouettes surrounding the bitcoin notwithstanding, Indian investors are taking a closer look at the online payment system to understand its global potential."

On the Wires:

  • Delta Becomes the First U.S. Airline To Offer Alipay Payment and Improve the Ease of Online Booking from China - "This exciting new partnership is one of many Delta initiatives to build the most Chinese-friendly U.S. airline," said Vinay Dube, Delta's senior vice president – Asia Pacific. "As the U.S. and China have agreed to issue multiple-entry visas for up to ten years for short-term business and tourist travel, our partnership with Alipay will give more Chinese consumers the chance to experience traveling in the U.S. with our industry-leading product and service in flight and on the ground."

Glenbrook's 2015 Payments Education Update!

Updates from Glenbrook:

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

April 01, 2015

Headline News from PaymentsNews.com - April 1, 2015

On the Web:

On the Wires:

  • FIS Drives Digital Disruption from New Innovation Lab in San Francisco - “Our Digital Innovation Lab will serve as an entrepreneurial ‘garage’, where our engineers build new product prototypes with cutting-edge technologies,” said Doug Brown, SVP and GM, Mobile Financial Services, FIS. “Located in the U.S. hub for high-tech innovation, the lab is empowering FIS to set the pace of digital developments for the financial industry.”
  • Heartland and Verifone Renew Alliance; Announce EMV and Encryption Initiative - “A renewed alliance between Heartland and Verifone ensures merchants have access to the most secure and flexible payments solutions on the market today,” said Heartland Chairman and CEO Robert O. Carr. “Verifone’s popular VX terminals are both Heartland Secure-certified and support E3 encryption, providing merchants with an extensive range of payment device options.”
  • Advanced Cash Chooses BitPay to Offer Bitcoin Funding - "As the Bitcoin industry grows in transaction volume and technology development, companies like Advanced Cash need to have a scalable product to compete and meet customer expectations. With BitPay, they are able to provide reliable and efficient services to Bitcoin users by offering frictionless transactions powered by enterprise level software and support service."

Glenbrook's 2015 Payments Education Update!

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!

March 31, 2015

Headline News from PaymentsNews.com - March 31, 2015

On the Web:

  • Apple Pay Running Into Hurdles at Checkout Counter, Survey Finds - Bloomberg Business - "The majority of people who used Apple Pay said they did so because it was faster than a traditional credit card. Almost 60 percent they were using it because “it’s new, stylish or cool,” while 58 percent said they thought it was safer than a normal credit card."
  • Square Wants to Become a Platform — Here’s Why that Matters For Small Businesses - StreetFight - "Now, with millions of small businesses already using its application to process payments, the company needs to navigate through a complex and crowded small business software market to build a platform from which merchants can run their business."
  • The Most Important Question for Launching Your Digital Platform - MasterCard Blog (Ed McLaughlin) - "It was quite a trip down memory lane to revisit our strategy for launching and growing that business. Even more striking is how the same principles we applied online in the first-wave of internet use are even more vital to launching a new platform today, in a world where digital convergence is radically altering the day-to-day experiences, preferences, and habits of consumers."

On the Wires:

  • MasterCard Easy Savings® Program and Rakuten.com Provide Millions of Ways for Small Businesses to Save - “Easy Savings was built to make savings on everyday needs stress-free and simple—all you have to do is use your eligible MasterCard business card,” said Jay Singer, senior vice president, North America commerical products. “With the broad selection of goods and merchants that Rakuten.com offers and the services that BizEquity provides, we can now deliver even more value to our small business cardholders enrolled in the program.”
  • Moneris to work with Verifone as Exclusive Provider for its Countertop Terminal Solutions in United States - “We’re pleased to be able to work with Verifone as a key partner in our work to help U.S. merchants transition to EMV-enabled payment devices,” said Chris Lee, president, North American strategic partnerships and emerging markets. “Verifone is a leader in next generation EMV solutions and the VX 520 offers merchants a cost-effective, durable, feature-rich product that can manage everything from EMV to contactless payments.”
  • Criteo Report Reveals Consumers Increasingly Comfortable with Mobile Purchases - “Mobile commerce is growing like a weed,” said Jonathan Wolf, chief product officer, Criteo. “In just the last three months there was a 10 percent increase in mobile transactions in the US alone. Smartphones are now the majority of mobile transactions, and the growth of larger screen sizes and better mobile sites is only going to accelerate this trend.”
  • ProPay Announces ProFac Express for Payment Facilitators - “ProPay’s ProFac Express lets payment facilitators take immediate advantage of our industry-leading transaction processing platform – including online application, instant boarding, underwriting and more – while also empowering them to play an active role in the processing and client-service relationship.”
  • Global Payments’ OpenEdge Division Integrates Secure Payments Solutions with Carolina Software’s WasteWORKS Software Suite - “Everyone in the ecosystem understands that EMV represents a far superior security solution at the point-of-purchase,” stated OpenEdge President, Sid Singh. “Yet, developers face challenges ensuring merchants are ready to accept EMV payments within the POS system. EdgeShield solves this problem, so developers can integrate EMV swiftly and merchants can accept payments seamlessly.”
  • Ingenico Mobile Solutions Launches First and Only mPOS Solution for EMV Chip & Sign, Contactless and Magnetic Stripe Card Acceptance - “Merchants want options when it comes to EMV and NFC. With the RP450c, Ingenico Mobile Solutions now provides the first and only mPOS solution that enables acceptance of all payment types, with the most flexible connection options,” said David Szczepanski, COO at Ingenico Mobile Solutions.
  • Ingenico Group’s Wi-Fi Pay-at-the-Table Technology Brings EMV and NFC Tableside - “With the EMV liability shift and growing popularity of mobile wallets, merchants in the hospitality industry need to think differently about how they accept payment directly at the table,” said Gregory Boardman, Senior Vice President of Product and Development for Ingenico Group, North America. “This new Wi-Fi enabled addition to our iWL series ensures that Ingenico Group can meet the needs of any merchant that wants to implement a Pay-at-the-Table strategy, and in turn ensure EMV compliance.”
  • TransFirst Certifies Verifone’s Secure Commerce Architecture - “The certification of Verifone’s Secure Commerce Architecture is a major milestone for TransFirst,” said John Shlonksy, President and CEO for TransFirst. “It confirms our commitment to providing enhanced data security payment solutions to our merchants and sales partners that will not only reduce the scope of EMV certification, but also save their time and resources.”
  • Mozido Invests in HCE Pioneer SimplyTapp - “The mobile payments industry is in the midst of a transformation. With secure element-based NFC mobile payments struggling, the industry is leaning heavily towards a future of more open, HCE oriented mobile payment transactions,” said Michael Liberty, Mozido founder and chairman of global strategic initiatives. “By partnering with SimplyTapp, the pioneer and leader of HCE payments, Mozido will be at the forefront of this transformation.”
  • Mozido Invests in IdentityMind Global, Forms Partnership for Unprecedented Fraud Protection in Mobile Commerce - “Fraud prevention in e-Commerce and online transactions is most effective when the identity of the consumer or entity is known,” said Garrett Gafke, president and CEO of IdentityMind. “Our platform recognizes individuals based on a combination of attributes and helps validate how these attributes correlate against each other both online and offline. This is particularly important in mobile commerce where online merchants sacrifice collecting information for reducing friction in the mobile payment/registration process, and mobile adoption is larger within underbanked and unbanked demographics.”

Glenbrook's 2015 Payments Education Update!

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!

March 30, 2015

Headline News from PaymentsNews.com - March 30, 2015

On the Web:

On the Wires:

  • Contactless Card Payments enabled on Vodafone Wallet with Visa and Carta Worldwide - "Vodafone customers will soon be able to add bank cards to their Vodafone Wallet and use smartphones to pay for goods and services at contactless terminals, it was announced today. Following new agreements with Visa and Carta Worldwide, bank card payments via Vodafone Wallet will be enabled in European markets from the second quarter of 2015 onwards."
  • MasterCard Expands San Carlos Center of Excellence - "MasterCard today announced the expansion of its San Carlos Center of Excellence and the relocation of senior vice president of Emerging Merchants, Les Matthews, and his team to the company’s West Coast office. MasterCard will also add global communications support in San Carlos with the relocation of vice president, Worldwide Communications, Brian Gendron. The moves enhance the company’s presence on the ground in Silicon Valley – an important market for continuing to deepen MasterCard’s footprint with the tech community."
  • GTCR Announces Sale of Fundtech to DH Corporation - Aaron Cohen, Managing Director at GTCR, added: “This transaction marks another successful example of GTCR’s Leaders Strategy™, as we worked in partnership with an exceptional management team to execute this complex transformational merger. We are pleased that those efforts have resulted in building a market-leader in transaction banking software.”
  • According to New Chase Slate Credit Survey, Checking Your Credit Score Correlates to Financial Aptitude – Yet Gaps in Consumers’ Credit Health Awareness Still Exist - "The survey reveals that Americans who have previously checked their credit score consider a “good” score to be 719 on average1. This is 51 points higher than what is considered to be good by those who have never checked their score (668). What Americans may not realize is that even a score of 719 might not give them access to credit at the best rates."
  • TimesofMoney Announces Launch of 'Movit' - Talking about Movit, Avijit Nanda, Chief Executive Officer, TimesofMoney, says, “TimesofMoney has several success stories to its credit. We have engaged with international clients for Movit and in fact are in the process of deploying it in Africa currently. Since Movit’s primary delivery channel is the mobile phone, it gives a huge thrust to the financial inclusion agenda of governments in emerging economies of India, Asia & Africa where there is an ever-increasing mobile penetration.”
  • Powa Technologies and Merchant e-Solutions Partner to Support POS Application Developers’ Go-To-Market Strategies - “PowaPOS has a unique position in the tablet-based payments market right now. Its fully integrated hardware and universal OS support makes it particularly attractive to POS software developers and to us,” said Tom Bell, CEO, Merchant e-Solutions. “By partnering together, we’ll be able to provide developers with the best payments processing and hardware solutions on the market today.”

Glenbrook's 2015 Payments Education Update!

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!

March 27, 2015

Headline News from PaymentsNews.com - March 27, 2015

On the Web:

On the Wires:

  • Synchrony Financial Extends mApply Mobile Credit Applications for Payment Solutions Customers and Merchants = "Synchrony Financial’s 2014 Major Purchase Consumer Study found that 79% of all shoppers surveyed agree that financing makes large purchases more affordable. Combined with the rapid growth in mobile shopping – 53% of U.S. consumers report using their mobile phone for shopping activities (Synchrony Financial Insights Study, March 2015) – it is clear why the mApply product is popular with both retailers and customers."

Glenbrook's 2015 Payments Education Update!

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!

March 26, 2015

Headline News from PaymentsNews.com - March 26, 2015

On the Web:

On the Wires:

  • No Password, No Problem: FIS Adds Biometric Access to Mobile Solutions - “One-touch Cardless Cash® is unlike anything else in the market,” said Douglas Brown, Senior Vice President and General Manager, Mobile Financial Services, FIS. “The ability to access your account and withdraw money with just your fingerprint will make ATM access faster, safer and easier for users. It’s a true homerun.”
  • How Ready are U.S. Merchants for EMV? - "TSG survey finds just 34% of merchants in the US will be EMV-ready by October 2015."
  • PCI Council Publishes Guidance on Penetration Testing - "Today the PCI Security Standards Council publishedPenetration Testing Guidance to help organizations establish a strong methodology for regularly testing security controls and processes to protect the cardholder data environment in accordance with PCI DSS Requirement 11.3."
  • Federal Reserve survey provides information on mobile financial services - "The use of mobile phones to access bank accounts, credit cards, or other financial accounts continued to increase among adults in the United States last year, according to a Federal Reserve Board report, Consumers and Mobile Financial Services 2015. The report is the Board's fourth looking at how consumers access banking services using mobile phones ("mobile banking"), and their payments for goods and services using mobile phones ("mobile payments"), as well as their use of mobile phones to inform their shopping decisions."
  • TSYS CIO Ken Tye To Retire - "During Tye’s tenure, in the mid-1990’s, he led a team responsible for building TS2, still considered the industry’s most technologically advanced payment processing system in the market today. Most recently, Tye has led the team creating a more open technology environment to power TSYS’ next generation of digital innovation and consumer servicing."

Glenbrook's 2015 Payments Education Update!

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!

March 25, 2015

Headline News from PaymentsNews.com - March 25, 2015

On the Web:

On the Wires:

  • Global Payments Acquires Realex Payments, Expanding Its International Ecommerce Offerings - Colm Lyon, CEO of Realex Payments, added, "We are thrilled to be joining the Global Payments team. The combination of Global Payments' multinational acquiring expertise with Realex Payments’ technologies and employees will position us well for global growth and expansion."
  • Rise in “Mobile-Only” Users Will Require Rethinking Mobile Banking Says Fiserv White Paper - "According to Fiserv estimates, mobile-only users make up about 15 percent of a typical financial institutions’ mobile banking user base. Mobile-only users are defined as those who access their accounts using only their smartphones. Although the segment is small, it is growing, and it makes up an integral part of the mobile banking population."
  • Pay with OpenTable Now Available for Android - "Millions of diners use our apps to discover and book the perfect table," said Jocelyn Mangan, OpenTable Senior Vice President, Product Management.  "We're excited to provide Android users with a payment experience that is intuitive and integrated into the OpenTable app they know and love." 
  • ShopKeep Launches Integrated Payments - "ShopKeep Payments will be a new division of ShopKeep, and will leverage technology from Payment Revolution, an independent sales organization and a full service credit card processing firm that specializes in custom solutions. ShopKeep Payments will also offer best-in-class residual payouts to its interested, certified value-added resellers and referral partners"

Glenbrook's 2015 Payments Education Update!

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!

March 24, 2015

Headline News from PaymentsNews.com - March 24, 2015

On the Web:

  • Understanding and Improving Consumer Financial Health in America - Center for Financial Services Innovation - "This research explores the state of financial health in America in a groundbreaking examination of consumer behaviors, attitudes, and preferences. In it, we define seven consumer financial health segments based on a combination of behaviors and attitudes, offering an analysis that goes beyond income, age, education, or credit score."
  • Optimal Payments to Acquire Digital Payments Rival - "Optimal Payments said on Monday that it had agreed to acquire the digital payment service Skrill Group in a cash-and-share deal that values the business at 1.1 billion euros, or about $1.2 billion."
  • Comments On The Proposed Bitlicense Regulations - AVC.com (Fred Wilson) - "This blog post is being submitted as a public comment on the revised Bitlicense regulations and should be read as such."
  • The New York BitLicense and California’s Digital Currency Bill – A Comparison - CoinCenter - "All in all, I’m optimistic that we’ll see progress in both New York and California. Each wants to be a leader in the exploding new FinTech space, they face increasing competition from the UK and other international jurisdictions, and they have each been quite receptive to input from those of us the cryptocurrency ecosystem."
  • Trouble at AmEx: Some cardholders can leave home without it - AP - "One of the biggest threats to AmEx is the slew of competing cards aimed at the well-to-do, sometimes with lower annual fees."

On the Wires:

  • Fiserv Completes First Tokenized Transactions via Accel Debit Payments Network - “Fiserv offers one of the first debit payment networks to enable tokenization, which is required for transactions such as those conducted using Apple Pay™,” said Kevin Gregoire, president, Financial Institutions Group, Fiserv. “Apple Pay is just one example of the rapid changes in the payments landscape, and it is important for Fiserv to equip our clients to deliver the capabilities consumers expect at an accelerated pace. We anticipate that tokenization will play an increasing role in the debit payments industry and Accel is well positioned to accommodate further developments.”

Glenbrook's 2015 Payments Education Update!

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!

March 20, 2015

Headline News from PaymentsNews.com - March 20, 2015

On the Web:

Glenbrook's 2015 Payments Education Update!

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!

March 19, 2015

Headline News from PaymentsNews.com - March 19, 2015

On the Web:

On the Wires:

  • American Express Announces New Co-Brand Relationship with Charles Schwab - “We look forward to working closely with Charles Schwab to develop a strong value proposition for the new cards,” said Josh Silverman, president of Consumer Products & Services for American Express. “The partnership is designed to generate positive economics over time for our shareholders, and allow our mutual customers to benefit from a relationship with two leading financial services brands.”
  • GlobeOne partners with InvestaBank and Bankaool to bring new mobile banking network to Mexico - “Only 45% of the population in Mexico has a bank account, which is why this partnership is an exciting development for Mexican consumers,” said Michael Wolper, GlobeOne member and Chief Marketing Officer. “Through GlobeOne’s growing global network, consumers will have access to the basic financial services necessary to build a strong financial future, and banks will have a new platform to serve the many digitally connected Mexican consumers who do not participate in the traditional, brick-and-mortar banking system.”

Glenbrook's 2015 Payments Education Update!

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!

March 18, 2015

Headline News from PaymentsNews.com - March 18, 2015

On the Web:

On the Wires:

  • Openbay, Online Marketplace for Auto Repair, Now Supports Apple Pay - “Openbay remains the only nationwide mobile and web app for consumers to search for, compare mechanics, book an appointment and pay for auto repair,” said Rob Infantino, founder and CEO. “With Apple Pay, we continue to innovate and maintain a first-mover advantage for vehicle repair. The perceived nuisance of getting one’s car or truck serviced is becoming virtually frictionless.”
  • PAR Expands Mobile Point of Sale (POS) Solutions for Restaurant and Retail - “The addition of the PAR Tablet 5 and PAR Tablet POS underscores and reinforces our commitment to bring the best POS solutions to market for our customers,” said Karen E. Sammon, President of ParTech, Inc. “Mobile POS is one of the fastest growing trends in the restaurant and retail space and today’s announcement will help our customers provide better guest experiences in the course of their business.”

Glenbrook's 2015 Payments Education Update!

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!

March 17, 2015

Headline News from PaymentsNews.com - March 17, 2015

On the Web:

  • Payments on Fire Podcast #15 – Small Business Banking grown from Seed - PaymentsViews.com (George Peabody) - "Listen to this conversation between Glenbrook’s George Peabody and Seed CEO Brian Merritt. While very early in the company’s development, Brian’s description of the company’s “API first” approach banking makes clear what’s possible when legacy technology and processes are in the rearview mirror."

On the Wires:

  • U.S. Bank Becomes Member of clearXchange to Bring Customers Faster, More Secure Digital Payments - “U.S. Bank is committed to bringing customers the most convenient and secure payment options available in the marketplace,” said Gareth Gaston, executive vice president of omnichannel banking at U.S. Bank. “Digital person-to-person payments are far more convenient than writing a check or having enough cash on hand to pay the babysitter or split a rent payment. By joining with clearXchange, U.S. Bank customers have a better way to make those payments quickly, easily and safely. We also have the opportunity to explore other ways this payment exchange network could come to light through our unified, omnichannel approach to customer service.”
  • Rakuten to Accept Bitcoin on Global Marketplaces - Rakuten’s mission is to empower the world through the Internet,” commented Yaz Iida, President of Rakuten USA. “Not only can bitcoin support this vision by helping our merchants better compete globally, but it also has the potential to benefit society by enhancing the security, privacy, and convenience of financial transactions. This is one of the reasons why we invested in Bitnet last year and we look forward to working with them on our US marketplace."
  • Digital River Provides Global Online Payments Solutions for peerTransfer - “peerTransfer is delighted to add Digital River to our suite of existing payment providers,” explained Mike Massaro, peerTransfer’s chief executive officer. “Digital River allows us to lower transactional costs in key regions and countries while enabling us to increase the number of currencies in which we settle."
  • Betty DeVita Appointed Chief Commercial Officer, MasterCard Labs - "In this role Betty will be responsible for developing and managing strategic partnerships focused on commercializing existing and future pipeline MasterCard Labs assets."

Glenbrook's 2015 Payments Education Update!

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!

March 16, 2015

Headline News from PaymentsNews.com - March 16, 2015

On the Web:

  • Alibaba’s Jack Ma Demos Pay-With-Your-Face Technology - Re/code.net - "In Hannover, Germany, Sunday night, where he was a headline speaker at the CeBit conference getting under way this week, Ma capped his speech by demonstrating a payment system on a smartphone using facial recognition technology."
  • Naver Bets On Mobile Payment Boom - Wall St. Journal - "The new mobile payment service, to be called Naver Pay, will allow consumers to buy goods online using smartphones or traditional computers in some cases without having to punch in any passwords."
  • BMO Harris Bank launches cardless ATMs - Chicago Tribune - "Generally, cardless cash machines work by creating a QR code, a square matrix-style bar code. Customers sign into the mobile app and hold their smartphones over the QR code on the ATM, which dispenses the desired cash."
  • Withdraw Cash Without a Card? There’s an App for That - Wall St. Journal - "The latest gambit by banks to reduce card fraud? Get rid of the card."
  • Authorities Closing In on Hackers Who Stole Data From JPMorgan Chase - New York Times - "Law enforcement officials believe that several of the suspects are “gettable,” meaning that they live in a country with which the United States has an extradition treaty."

On the Wires:

  • TA Associates Announces Investment in YeePay - “Key drivers in the third-party payment industry in China include growth in the issuance of bank and credit cards, increased consumer spending, growth in online and mobile payments, and government promotion of non-cash payments,” said Naveen Wadhera, Director and Co-Head of Asia at TA Associates Asia Pacific Ltd. “It is estimated that only 10 percent of small and medium-size businesses in China have a point of sale payment solution, so we expect penetration of that offline market will also drive industry growth.”
  • WEX to receive Australian MasterCard® Issuing Licence under new regulatory framework - "The Australian MasterCard issuing license was granted following regulatory changes made by the Reserve Bank of Australia to the MasterCard and Visa access regimes, which came into effect on 1 January 2015. The changes were designed to encourage access to and greater competition in the Australian market."
  • NCR Software Drives Transaction Switching at Mexico’s Largest Electronic Payments Processor, E-Global - “With the high volumes of transactions handled by E-Global on a daily basis, the support and performance of its transaction platform is essential,” said Steve Nogalo, vice president and general manager of Payments, NCR Financial Services. “With Authentic, E-Global has the flexibility and visibility it needs to deliver a best-in-class experience to its merchants and the consumers they serve.”

Glenbrook's 2015 Payments Education Update!

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!

March 13, 2015

Headline News from PaymentsNews.com - March 13, 2015

On the Web:

On the Wires:

Glenbrook's 2015 Payments Education Update!

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!

March 12, 2015

Headline News from PaymentsNews.com - March 12, 2015

On the Web:

  • Four Types of Bitcoin Users on Coinbase - Coinable Blog - "We have seen several different types of bitcoin users emerge over the past few years, with many more likely on the horizon."
  • The five stages of bitcoin understanding - Fortune - “We are still a good year away, in our estimation, from seeing the first production-ready instruments where you can imagine a known financial services company using this. But it’s not 10 years."

On the Wires:

  • Apple Pay is Now Available at Jamba Juice Stores - “We are pleased to integrate Apple Pay as an option for consumers seeking an easy and secure service through which to complete their transactions,” said Julie S. Washington, Jamba Chief Marketing and Innovation Officer. “We believe Apple Pay will help improve the speed-of-service for today’s on-the-go consumer.” Jamba is integrating Apple Pay in approximately 650 stores nationwide.
  • Global Payments and Discover Financial Services Announce Streamlined Card Acceptance on the Discover Global Network in Canada - “The launch of our full acquiring program for Discover is the latest example of our commitment to providing Canadian merchants with robust and innovative product and service offerings,” said René Bélanger, President of Global Payments Canada. “This program brings additional value to our merchant customers by enhancing payment acceptance options and providing them a single source for payment processing, settlement, underwriting, risk management, support and reporting.”
  • VISA ReadyLink Users Can Now Add Funds to Their Cards at Walmart - "The integration of Visa ReadyLink with Walmart's Rapid Reload delivers on InComm's vision to expand the swipe reload technology and streamline the customer experience at the register, simplify the sales process for employees and increase retail foot traffic," saidJeff Lewis, Vice President and General Manager, Financial Services, InComm.
  • Calling All Entrepreneurs: Bring Your Big Idea to MasterCard’s Priceless Elevator Pitch - "Representatives from some of the top venture capital firms in the country will serve as judges for the competition. At the end of each day, they’ll award three finalists with a $250 MasterCard prepaid card. On the final day, Jay Singer, senior vice president, North America commercial products at MasterCard, will join the judging panel and one of the nine finalists will be named the winner of the $15,000 grand prize."
  • Intuit and Bigcommerce Partner to Simplify Financial Business Operations for Online Retailers - “Both Intuit and Bigcommerce develop technology that makes our clients’ lives easier, and this partnership will help Bigcommerce merchants simplify accounting with the help of QuickBooks Online,” said Avi Golan, vice president and general manager of the Intuit Developer Group. “Merchants taking advantage of this integration will save time once spent on accounting, and will be able to keep their focus on running their business.”
  • Intuit Partners with Shopify to Automate Bookkeeping for Online Retailers - “Delivering a seamless integration between QuickBooks Online and Shopify makes it easy for businesses to automatically reconcile sales data,” said Avi Golan, vice president and general manager of the Intuit Developer Group. “This is the latest example of how we’ve turned QuickBooks Online into the world’s leading small business cloud platform, delivering an ecosystem of integrated tools and services."
  • Fifth Third Bank Adopts Dave Ramsey's New SmartDollar Financial Wellness Program - Sheri Kehren, vice president and program manager of financial workplace wellness at Fifth Third Bank, said, "We continue to see employers augment their retirement education efforts and overall corporate wellness programs with a component of financial education. We were very excited when the Bank announced that the new SmartDollar program would be part of their improved Total Rewards program for 2015.”

Glenbrook's 2015 Payments Education Update!

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!

March 11, 2015

Headline News from PaymentsNews.com - March 11, 2015

On the Web:

  • How Apple Will Make the Wearable Market - Stratechery (Ben Thompson) - "It’s increasingly plausible to envision a future where all of these examples and a whole host of others in our physical environment are fundamentally transformed by software: locks that only unlock for me, payment systems that keep my money under my control..."
  • Square Acquires Kili Technology - Square Blog - "That’s why we’ve acquired Kili Technology, a company that has developed silicon, electronics, and software that simplify and optimize payment processing. They have an experienced technology team who, like our sellers, are relentless innovators and never satisfied. Together we’ll continue to lead the way in delivering simple and affordable hardware that gives our sellers a smarter and safer way to do business."
  • Why March 10 was a big day for bitcoin - Fortune - "Three bitcoin startups announce funding and big-name backers, on the same day that the price hits a new benchmark."
  • NACHA’s Payments Innovation Alliance Releases White Paper: “Leveraging the Mobile Channel for ACH Payment Innovation” - NACHA - “The mobile future is here,” said George Throckmorton, managing director, Advanced Payments Solutions at NACHA. “The use of mobile devices with ACH transactions is ripe for rapid adoption and further innovation given that it is a ubiquitous, low cost means of accessing payments.”

On the Wires:

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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!

March 09, 2015

Headline News from PaymentsNews.com - March 9, 2015

On the Web:

On the Wires:

  • PayLease and Ocius to Combine - “Ocius is the forerunner in convergent billing solutions and their products are the perfect complement to the PayLease payment platform,” said PayLease CEO, Dave Dutch. “Our combined companies will bring best-in-class solutions to streamline our clients’ intensive AR and AP needs. We are excited to join forces with Ocius and bring these businesses together.” Dutch added.

  • NMI Launches Payments Enablement Platform for VARs and ISVs - “The days of reselling third-party payment gateway services or referring merchants to payment gateways are over,” said Roy Banks, chief executive officer for NMI. “Our payments enablement platform enables ISOs, VARs and ISVs to offer their own branded payment gateway, while meeting the payment processing needs of their merchant customers,” added Banks. “They gain relationship control to enhance customer experience and brand equity. Plus, they own more of the revenue opportunity without having to worry about third-party competition,” continued Banks.

  • Seamless Distribution AB: SEQR Launches Market-Leading Cashback Reward Program and Connects the Service to Consumers’ Bank Accounts - “This reward program is far more attractive than what the card companies offer, with no fees or strings attached. It is very attractive financially. SEQR can also be connected straight to your bank account, making it even easier to use. This is how we are actively driving the change towards the smartphone replacing the wallet, ” says Peter Fredell, CEO of Seamless, the provider of SEQR.


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Updates from Glenbrook:

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

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