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Payments News - Headline News

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January 30, 2015

Headline News from PaymentsNews.com - January 30, 2015

On the Web:

On the Wires:

  • Cardholders Enjoy Simple and Secure Online Shopping As More U.S. Retailers Sign Up for MasterPass - “Consumers like shopping but paying for things online can be challenging,” said Michael Cyr, Group Executive, North America Market Development, MasterCard. “MasterPass helps turn every online payment experience into an express checkout lane.”
  • MasterCard Incorporated Reports Fourth-Quarter and Full-Year 2014 Financial Results - “Despite a mixed global economy, we delivered solid results for the quarter and for the full year in 2014,” said Ajay Banga, president and CEO, MasterCard. “This year is off to a good start with several new wins, as well as renewals of some important customer agreements, with more in the pipeline. Looking ahead, we will continue to be at the forefront of our industry by driving payment innovation with solutions such as MasterPass, and by increasing electronic payments usage globally as demonstrated by our significant expanded acceptance footprint across Africa.”

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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!

January 29, 2015

Headline News from PaymentsNews.com - January 29, 2015

On the Web:

  • Can RBC’s digital wallet beat Apple? - Globe and Mail - "The system doesn’t require the bank to share vital and valuable customer data with retailers, phone manufacturers or wireless service providers. RBC considers it to be a world-beating new technology, one that will make the bank a global player in the processing of mobile payments."
  • India Banking: Downwardly mobile - Economist - "The scheme’s initial goal has been surpassed: 120m accounts have been opened. Arun Jaitley, the finance minister, has claimed that almost every household in India now has access to banking."
  • With a Few Bits of Data, Researchers Identify ‘Anonymous’ People - New York Times - "In the study, titled “Unique in the Shopping Mall: On the Reidentifiability of Credit Card Metadata,” a group of data scientists analyzed credit card transactions made by 1.1 million people in 10,000 stores over a three-month period."
  • Now available in the UK: Send and request money right from Gmail - Google Commerce Blog - "Since we announced Send Money in Gmail, paying back your friends has never been so simple, whether you’re chipping in for lunch or reimbursing your housemate for your share of the rent. Today, we're excited to make this feature available for Gmail users in the UK."
  • The debit card fee driving US banks crazy – and costing consumers more than they realize - Guardian - "Here’s the problem, which most of us can relate to: banks love fees. But banks can’t levy a fee that isn’t “reasonable and proportional” to the cost of processing the transaction. That’s the rule under the terms of the Durbin amendment, which is part of the Dodd-Frank package of Wall Street banking reforms."
  • Retailers must embrace in-store pickup - Mobile Commerce Daily (John Pincott) - "Research by PricewaterhouseCoopers and AT Kearney shows that 80 percent of customers research their purchases online, but 75 percent of consumers still prefer to buy products in a physical store."

On the Wires:

  • Visa Europe: Record spend, transaction volume and e-commerce levels as revenues rise in 2014 - "Gross revenues grew 9% year-on-year to €1.9 billion while profits of €344 million were €80m higher than last year. This enables Visa Europe to invest more than €200 million in new payments technologies to accelerate the growth of digital payments."
  • PULSE Introduces New Brand Identity to Support Expanded Payments Solutions - “PULSE and the debit landscape have both changed considerably in recent years, and it was time for our brand identity to reflect those changes,” said PULSE President Dave Schneider. “At the same time, millions of cardholders know to look for the familiar PULSE logo at the point of sale and on ATMs, so our new look builds upon our existing strong brand equity.”
  • BitGo Launches Platform API to Secure and Scale the Next Generation of Bitcoin Businesses - “The BitGo Platform API can help businesses, both large and small, focus their development resources on core competencies and product differentiation while security is managed by the specialists. Now is the opportunity to create a bitcoin ecosystem free from hacks that plagued the industry over the last few years.”
  • VantageScore Solutions Announces Major Strides in Market Adoption - “With this surge in market adoption, the consumer finance industry, including the largest banks in the country, clearly have voted for choice in the marketplace and are taking advantage of the transformative differentiators offered by the VantageScore model,” said Barrett Burns, president and CEO of VantageScore Solutions.

Glenbrook's 2015 Payments Education Schedule Now Available!

Updates from Glenbrook:

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

January 28, 2015

Headline News from PaymentsNews.com - January 28, 2015

On the Web:

  • Why Apple Pay will Succeed where Others have Failed - First Data blog - "But this time, one thing is markedly different: by aligning the launch of Apple Pay with the Card Associations’ Payment Tokenization efforts, what we are witnessing is the realization of interoperability, reliability and security standards that have been a long time in coming to the U.S."

On the Wires:

Glenbrook's 2015 Payments Education Schedule Now Available!

Updates from Glenbrook:

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

January 27, 2015

Headline News from PaymentsNews.com - January 27, 2015

On the Web:

On the Wires:

  • USA Technologies Announces Support for Apple Pay - "This immediately adds approximately 200,000 Apple Pay acceptance points to the growing list of locations officially supporting Apple Pay, bringing the advanced mobile payments service to owners and operators of coffee brewers, vending machines, kiosks, laundry equipment, parking pay stations and other self-serve appliances."
  • Blackhawk Network Announces Launch of Blackhawk Engagement Solutions - "Blackhawk Network is a leader in providing unique and easily accessible prepaid and egift content. It was natural for us to extend our solutions beyond retail with the incentives marketplace where we meet needs of consumers, employees and business partners," said Talbott Roche, Blackhawk Network's president.
  • Digital River Expands in India Through a Partnership with Ecommerce Provider Net Distribution Services - “Ecommerce is evolving at a rapid pace in India,” said Ajay Miglani, chief executive officer of NDS. “We are very excited to be working with Digital River to deliver a high-performance ecommerce solution to the market and accelerate our clients’ online expansion plans.”
  • New Publication Establishes Guidelines for Evolving Payroll Card Industry - “A high-quality card can help hard-working Americans plan for the future and take control of their financial health,” said Jennifer Tescher, President & CEO, CFSI. “We are pleased that MasterCard and Visa are putting our Compass Guide to Payroll Cards into practice, and we look forward to working with them to ensure consumers have access to the high-quality products they need.”
  • Western Union Offers Apple Pay™ as New Pay-In Option for Money Transfer Customers - “Our customers have an expectation of using mobile technology to make money transfer service and product accessibility easier. Western Union is rising to the occasion as we harness our system with modifications to link cash and digital transfers between retail locations, mobile phones, prepaid cards, online and traditional bank accounts and ATMs,” said David Thompson, Executive Vice President, Global Operations and Technology and Chief Information Officer.
  • TCF Bank Now Offering Apple Pay Integration with Debit and Credit Cards - “Consumers want fast, convenient and secure ways to pay for purchases,” said Mark Jeter, Managing Director of Branch Banking at TCF Bank. “With Apple Pay, TCF Bank customers now can make payments at thousands of participating retailers or when they make in-app purchases with the confidence that their personal and financial information is protected.”
  • TSYS and Banco CSF S.A. Extend Payments Agreement - "TSYS supports Carrefour’s 12 million hybrid and private-label cards in circulation in Brazil on its market-leading TS Prime® processing solution. The Carrefour portfolio has grown 64% since the Carrefour and TSYS card program began in 2012."
  • Prosper Marketplace Acquires American HealthCare Lending - “This acquisition is an important part of our strategy to grow awareness and expand our product offerings and capabilities into new vertical markets,” said Aaron Vermut, CEO, Prosper Marketplace.

Glenbrook's 2015 Payments Education Schedule Now Available!

Updates from Glenbrook:

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

January 26, 2015

Headline News from PaymentsNews.com - January 26, 2015

On the Web:

  • Google taps WePay to put Wallet support in 200K more online stores - VentureBeat - “This integration with WePay will now expand its reach and allow us to support small business owners through WePay’s hosted payment offering, making it easier for them to accept payments online and on mobile devices,” says Steve Klebe, Business Development, Payments for Google.
  • Coinbase Launches First Regulated Bitcoin Exchange in the U.S. - Coinable Blog - "Coinbase Exchange provides a reliable and secure platform for bitcoin trading that is backed by investors such as the New York Stock Exchange."
  • First U.S. Bitcoin Exchange Set to Open - Wall St. Journal - "Coinbase Inc., a startup backed by $106 million from the New York Stock Exchange, banks and venture-capital firms, said its exchange will offer greater security for individuals and institutions to trade bitcoin and monitor real-time pricing of the cryptocurrency."
  • Stripe Partners With Intuit To Help On-Demand Workers Keep Track Of Their Finances - "Through the partnership, people who work for on-demand platforms that make their payments through Stripe will be able to easily connect with Intuit’s new QuickBooks Online Self-Employed software."
  • Increasing the GDP of the Internet - MIT Technology Review - "In an interview with MIT Technology Review’s San Francisco bureau chief, Tom Simonite, in the cafeteria at his company’s headquarters in the Mission district of San Francisco, CEO and cofounder Patrick Collison explains how he is trying to increase the small fraction of spending that takes place through e-commerce."
  • Inroads Made by Apple Pay Propel ‘Mobile Wallet’ Idea - Wall St. Journal - "Apple Inc. ’s payments service, now three months old, is making progress toward a goal that has eluded other mobile wallets: persuading people to use it."

On the Wires:

Glenbrook's 2015 Payments Education Schedule Now Available!

Updates from Glenbrook:

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

January 23, 2015

Headline News from PaymentsNews.com - January 23, 2015

On the Web:

  • Bitcoin and the Digital-Currency Revolution - Wall St. Journal - "No digital currency will soon dislodge the dollar, but bitcoin is much more than a currency. It is a radically new, decentralized system for managing the way societies exchange value."
  • Winklevoss Twins Aim to Take Bitcoin Mainstream - New York Times - "The exchange, which the twins have financed themselves, is a risky bet, given that the virtual currency industry has been a target of hackers and has faced existential questions about its legitimacy."

On the Wires:

Glenbrook's 2015 Payments Education Schedule Now Available!

Updates from Glenbrook:

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

January 22, 2015

Headline News from PaymentsNews.com - January 22, 2015

On the Web:

  • Here's Why Apple Pay Users Have Cut the Plastic - eMarketer - "Among US iPhone 6 and 6 Plus users who had used Apply Pay while shopping at a retail store during Black Friday weekend, nearly three-quarters said using Apple Pay was easier than checking out with a debit or credit card..."
  • Braintree Opens Private Beta to Accept Bitcoin - Coinable Blog - "After working closely with Braintree over the past few months, we are excited to announce that Braintree has opened up private beta access to accept bitcoin for all of its U.S.-based merchants."
  • Bill Gates on Mobile Banking, Connecting the World and AI - Medium (Backchannel) - "The actual ideal is to essentially have a public switch that lets you move funds at low fees between various banks. That kind of rich interchange capability actually still doesn’t exist."
  • Visa Europe 2014 Annual Report - "To reflect the disparities across Europe, there is now more focus on local markets, and a more open and flexible approach to digital payment solutions. At the same time, a robust commercial ethos is being embedded within the business – in order to increase its strategic and monetary value, extend its market position, and protect it from business and regulatory risk."
  • ARM makes 15 predictions about 2015 - Android Authority - "These predictions cover a wide range of topics and reflect all the different areas of technology that utilize ARM based processors. The areas covered include smartphones, wearables, IoT, security and servers."
  • Monitise explores strategic review, warns on full-year results - Reuters - "Monitise Plc, a British mobile banking technology company, said it was reviewing its strategic options and warned that full-year revenue would be below its expectations..."
  • Webster Bank ramps up mobile banking app security with Touch ID - Mobile Commerce Daily - "Webster Bank is one of the first United States-based banks to leverage Apple’s Touch ID feature into its mobile banking application..."
  • Amazon drops mobile wallet as chances of a shakeout grow - Mobile Commerce Daily - "Amazon’s wallet strategy raised questions about its viability from the beginning, as many retailers consider the ecommerce giant a competitor and therefore would be unlikely to want to participate..."
  • Cross-Border Payments: Challenges and Trends - Aite Group - "The correspondent banking model does not meet every customer's modern needs, and the growing volume of low-value cross-border payments oblige banks to rethink their current approach to cross-border fund transfers."
  • Payments Giant Ingenico Adds Bitcoin Option to POS Terminals - CoinDesk - "Bitcoin payments provider Paymium has partnered with one of the world's largest point-of-sale (POS) providers to allow European brick-and-mortar retailers to accept the digital currency."
  • Reporting back from the Blockchain Workshops at MIT and Harvard - "And it turns out Bitcoin may be just the beginning."
  • Bigger than Hollywood - Asymco.com - "Apple paid $10 billion to developers in calendar 2014."
  • Google to Sell Wireless Service in Deals With Sprint, T-Mobile - Wall St. Journal - "Google Inc. is preparing to sell wireless service directly to consumers after striking deals with Sprint Corp. and T-Mobile US Inc., a move likely to prod the wireless industry to cut prices and improve speeds..."

On the Wires:

  • Xoom Announces Touch ID for Mobile Money Transfers - “Xoom has always placed safety and security as a top priority; and now with Touch ID on the Xoom Mobile App, this presents an enhanced customer experience with authentication that is simple and highly secure,” said Joe Raymond, Xoom’s Vice President of Product. “In keeping with our mission of creating a seamless customer experience across our platform, Touch ID will make it faster and easier for our customers to send money from the Xoom App, without having to type in a password.”
  • Wawa Launches New Mobile App and Wawa Rewards Program, Offering Customers a Whole New Way to Connect - "As of January 2015, all of Wawa’s more than 680 convenience stores are accepting mobile payments through the new Wawa mobile app, enabling customers to make in-store purchases with more convenience than ever before, using a Wawa Gift Card from their smart phones."
  • TSYS and Ingenico Group to Offer EMV, NFC and Apple Pay Enabled POS Payment Solutions - “Our relationship with Ingenico Group and its industry-leading expertise in EMV and NFC enabled TSYS to be among the first processors to be certified for Apple Pay,” said Craig Ludwig, senior director and head of product for TSYS' Merchant Services segment.
  • Raise Secures $56 Million in Series B Funding to Build on Company Momentum and Sustain Rapid Growth - "Raise, the largest online marketplace for gift cards, today announced that it has raised $56 million in a Series B funding round led by New Enterprise Associates (NEA), with additional funds supplied by Bessemer Venture Partners (BVP), the Pritzker Organization, Listen Ventures and several notable angels who previously participated."

Glenbrook's 2015 Payments Education Schedule Now Available!

Updates from Glenbrook:

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

January 21, 2015

Headline News from PaymentsNews.com - January 21, 2015

On the Web:

  • EBay Announces Job Cuts, Icahn Pact - Wall St. Journal - "EBay Inc. announced plans to cut about 2,400 jobs, or about 7% of its workforce, as the e-commerce giant prepares to spin off its PayPal electronic-payments business later this year from marketplace."
  • The 3Ps of the blockchain: platforms, programs and protocols - O'Reilly Radar - "Although it may be early to baptize new buzz lingo like “Blockchain as a Service” (BaaS) or “Blockchain as a Platform” (BaaP), there is a burgeoning landscape of various implementations and activity in and around the blockchain’s decentralized consensus protocol technologies."
  • Walmart offering cash pickup option for tax refunds - Chain Store Age - "In its newest move to offer more in-store financial services, Walmart is offering shoppers the option to pick up their tax refunds in cash. The new service, called Walmart Direct2Cash, is available nationwide starting Jan. 20."
  • Intuit Buys ZeroPaper, Its First Acquisition In Brazil - TechCrunch - "We are thrilled to work with ZeroPaper to reach small businesses, many just getting started and others, more established and larger businesses in need of the robust solutions in the QuickBooks Ecosystem, Dan Wernikoff, SVP & GM of the Small Business Group.
  • Seeing foreign interest in agri, infra & tech: MasterCard - MoneyControl.com - "India US trade will cross USD 500 billion by 2015. That’s the word coming in from Ajay Singh Banga, CEO, MasterCard."

On the Wires:

Glenbrook's 2015 Payments Education Schedule Now Available!

Updates from Glenbrook:

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

January 19, 2015

Headline News from PaymentsNews.com - January 19, 2015

On the Web:

  • Wirecard’s Smart Band: A mobile wallet you wear around your wrist - GigaOm - "As with other the universal credit card concepts like LoopPay, Coin and Plastc; Wirecard lets you load a credit or debit card’s credentials into its device and use it to pay for goods in place of a plastic card. But instead of just emulating the digits on your card for a magnetic stripe reader, the Smart Band uses a new secure payments technology backed by Google, MasterCard and Visa called Host Card Emulation (HCE)."
  • Are you a Tier 1 or a Tier 2 token requestor? (It matters) - SimplyTapp Blog - "With all the talk about Token Service Providers and token requesting, I felt it was worth describing a bit more about the role of a "Token Requestor"."
  • BBA, Payments Council Respond to UK 'Call for Information' on Digital Currencies - CoinDesk - "The BBA, the leading group representing the UK's biggest banks, has issued a response to the government's 'Call for Information' on digital currencies."
  • How Was Your Credit Card Stolen? - Krebs on Security - "But it occurred to me recently that I’ve never published a primer on the types of card fraud and the likelihood with each of the cardholder ever learning how their account was compromised. This post is an effort to remedy that."

Glenbrook's 2015 Payments Education Schedule Now Available!

Updates from Glenbrook:

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

January 16, 2015

Headline News from PaymentsNews.com - January 16, 2015

On the Web:

  • Understanding the blockchain - O'Reilly Radar - "There is no doubt that we are moving from a single cryptocurrency focus (bitcoin) to a variety of cryptocurrency-based applications built on top of the blockchain. This article examines the impact of the blockchain on developers, the segmentation of blockchain applications, and the network effects factors affecting bitcoin and blockchains."

On the Wires:

Glenbrook's 2015 Payments Education Schedule Now Available!

Updates from Glenbrook:

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

January 15, 2015

Headline News from PaymentsNews.com - January 15, 2015

On the Web:

On the Wires:

Glenbrook's 2015 Payments Education Schedule Now Available!

Updates from Glenbrook:

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

January 14, 2015

Headline News from PaymentsNews.com - January 14, 2015

On the Web:

  • Coming Soon!

On the Wires:

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

Glenbrook's 2015 Payments Education Schedule Now Available!

Updates from Glenbrook:

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

January 13, 2015

Headline News from PaymentsNews.com - January 13, 2015

On the Web:

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

On the Wires:

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

Glenbrook's 2015 Payments Education Schedule Now Available!

Updates from Glenbrook:

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

January 12, 2015

Headline News from PaymentsNews.com - January 12, 2015

On the Web:

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

On the Wires:

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

Glenbrook's 2015 Payments Education Schedule Now Available!

Updates from Glenbrook:

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

January 09, 2015

Headline News from PaymentsNews.com - January 9, 2015

On the Web:

On the Wires:

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

Glenbrook's 2015 Payments Education Schedule Now Available!

Updates from Glenbrook:

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

January 08, 2015

Headline News from PaymentsNews.com - January 8, 2015

Glenbrook's 2015 Payments Education Schedule Now Available!

On the Web:

On the Wires:

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

Updates from Glenbrook:

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

January 06, 2015

Headline News from PaymentsNews.com - January 6, 2015

On the Web:

On the Wires:

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

Updates from Glenbrook:

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

December 23, 2014

Headline News from PaymentsNews.com - December 23, 2014

Holiday Break!

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

On the Web:

On the Wires:

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

Updates from Glenbrook:

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

December 22, 2014

Headline News from PaymentsNews.com - December 22, 2014

On the Web:

On the Wires:

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

Updates from Glenbrook:

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

December 18, 2014

Headline News from PaymentsNews.com - December 18, 2014

On the Web:

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

On the Wires:

Updates from Glenbrook:

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

December 17, 2014

Headline News from PaymentsNews.com - December 17, 2014

On the Web:

On the Wires:

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

Updates from Glenbrook:

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

December 16, 2014

Headline News from PaymentsNews.com - December 16, 2014

On the Web:

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

On the Wires:

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

Updates from Glenbrook:

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

December 15, 2014

Headline News from PaymentsNews.com - December 15, 2014

On the Web:

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

On the Wires:

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

Updates from Glenbrook:

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

December 12, 2014

Headline News from PaymentsNews.com - December 12, 2014

On the Web:

On the Wires:

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

Updates from Glenbrook:

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

December 10, 2014

Headline News from PaymentsNews.com - December 10, 2014

On the Web:

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

On the Wires:

Updates from Glenbrook:

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

December 09, 2014

Headline News from PaymentsNews.com - December 9, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

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

December 08, 2014

Headline News from PaymentsNews.com - December 8, 2014

On the Web:

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

On the Wires:

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

Updates from Glenbrook:

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

December 05, 2014

Headline News from PaymentsNews.com - December 5, 2014

On the Web:

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

On the Wires:

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

Updates from Glenbrook:

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

December 04, 2014

Headline News from PaymentsNews.com - December 4, 2014

Last Call:

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

On the Web:

On the Wires:

Updates from Glenbrook:

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

December 03, 2014

Headline News from PaymentsNews.com - December 3, 2014

Last Call:

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

On the Web:

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

On the Wires:

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

Updates from Glenbrook:

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

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