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Payments Views

Welcome to the News View for "Payments Views".

Here, on these archive pages, you'll find all of the articles on Payments News for Payments Views listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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November 14, 2014

Headline News from PaymentsNews.com - November 14, 2014

On the Web:

  • Glenbrook’s Retailing Framework - PaymentsViews.com (Russ Jones) - "I’ve been thinking a lot about how payments and payment-related technologies fit into the emerging world of multi-channel commerce or omni-commerce as some people call it."
  • Will Bitcoin replace SWIFT? - Financial Services Club Blog - "We have a technology that is being developed in the open for almost six years now, that has more compute power behind it on a decentralised basis than any open source project in history, and that could fundamentally destroy the banking system … and only a miniscule of bankers are trying to understand it."

On the Wires:

  • Bank of Canada is Keeping a Close Eye on E-Money, Says Senior Deputy Governor Carolyn Wilkins - "E-money has the potential over time to alter the fundamental payments architecture around the world and could pose risks both to individuals and the Canadian financial system as a whole. That is why Canada is modernizing its oversight framework for payments."
  • Green Dot Supports CFPB’s Proposed Rules For Prepaid Debit Cards - "Green Dot’s Founder, Chairman and Chief Executive Officer Steve Streit testified yesterday at the CFPB field hearing on the topic in Wilmington, DE. As part of his prepared testimony, Mr. Streit said, “Today the prepaid industry takes another step towards maturity and passes another milestone on its path to long term sustainability and critical mass. I, as a person, and Green Dot, as a company, fully support the CFPB's mission."

Updates from Glenbrook:

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

October 28, 2014

Headline News from PaymentsNews.com - October 28, 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!

October 23, 2014

Headline News from PaymentsNews.com - October 23, 2014

On the Web:

  • Considering Bitcoin as a Payment Network - PaymentsViews.com (Russ Jones) - "What sort of payment system is Bitcoin? I’d say it is most similar to an open loop payment system that uses the push model. It offers close to real-time processing between end-parties and uses real-time gross settlement to complete each transaction. ..."
  • Costs and Benefits of Building Faster Payment Systems: The U.K. Experience and Implications for the United States - Federal Reserve Bank of Boston - "This paper examines the economic cost-benefit analysis underlying the U.K. FPS investment decision and describes the subsequent diffusion and use of FPS through 2013. The paper also assesses the effects that FPS likely had on the rest of the U.K. payment system and highlights key unanswered questions for future research."
  • The Dawn of Diners Club, and the Credit Card - New York Times - "Diners Club initially charged a $5 annual fee to users (equivalent to $49 today) and a fee of 7 percent to 10 percent of the charge to the business accepting the card."
  • Better Your Business With Square App Marketplace - Square Blog - "Whether you’re looking for easy sales tax reporting and filing with TaxJar, a wireless kitchen display system with Fresh KDS, or a comprehensive view of your social and online marketing efforts alongside sales with SumAll, you can find business apps that sync seamlessly with your Square account."
  • Why America has been slow to adopt modern credit-card technology - Economist - "As the (probably apocryphal) Winston Churchill aphorism goes, you can always count on the Americans to do the right thing—after they have tried everything else."
  • Etsy Introduces Credit Card Reader to Go Beyond the Web - "With the launch, Etsy will for the first time start earning a cut of transactions that happen away from its digital platform."
  • The 12 Best Answers from Gavin Andresen's Reddit AMA - CoinDesk - "They should use the block chain as the world's most secure distributed ledger."
  • Apple Pay’s First TV Ad Is A World Series Spot From MasterCard And MLB - TechCrunch - "Remember, this is a MasterCard ad, not an Apple ad, meaning this is yet another sign that payments providers think Apple could be the company to make mobile payments really take off, and are investing resources and backing accordingly."
  • In Palo Alto, Even the Hummus Guy Has an E-Commerce Startup - Re/code.net - "His new app — Wondermall — is an iPad shopping play in which a user can scroll through a virtual mall populated with anchor stores like Macy’s and Banana Republic."
  • Tipalti lands $13M to become a bigger international payment platform - VentureBeat - “When you’re paying your supplier, there isn’t a simple, common denominator,” CEO and co-founder Chen Amit told VentureBeat.
  • Mobile Payments: Ready for Primetime - The Clearing House Banking Perspectives (Dave Fortney) - "The great consumer adoption fallacy is that consumers will use mobile payments simply because they’re new and cool. The opposite is more likely true; tech enthusiasts aside, most consumers are resistant to change and will only accept it if given a compelling reason. Consider it the human equivalent to Newton’s first law of motion: an object at rest tends to stay at rest unless acted upon by an outside force."

On the Wires:

  • The Clearing House to Undertake a Multi-Year Effort to Design and Develop a Secure, Real-Time Payment System - “The digital economy moves in real time and our customers expect us to keep pace,” said Richard Davis, Chairman, President, and CEO of U.S. Bank and Chairman of The Clearing House. “We will work with the industry to build a real-time payment infrastructure, which will enable consumers to pay and get paid securely and conveniently.”
  • U.S. Bank Launches Corporate Payments Mobile App for On-The-Go Account Access - “Mobile devices are blurring the line between corporate and consumer need,” said Dominic Venturo, chief innovation officer for U.S. Bank. “Customers want a consistent, familiar experience, whether they’re paying their mortgage at home or managing invoices at work. Tools must be simple, intuitive, and offer high-value, low-cost functionality."
  • Worldpay Supports Apple Pay - “Enabling our merchants to process Apple Pay payments is a natural extension of Worldpay’s secure payment offerings,” said Tony Catalfano, President and CEO of Worldpay US. “We are committed to ongoing improvements that enable our merchants to accept new methods of payment as they evolve and intersect with new technologies."

Updates from Glenbrook:

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

October 16, 2014

Headline News from PaymentsNews.com - October 16, 2014

On the Web:

  • A Central Bank Takes on Mobile Payments - PaymentsViews.com (Elizabeth McQuerry) - "Ecuador’s Central Bank has embarked on an ambitious course to launch an affordable and widely available mobile payment scheme. In fact, it will be the national wallet."
  • Going Live with Apple Pay Using Our v.zero SDK_ - Braintree Blog - "Braintree’s v.zero SDK gives merchants the ability to easily add Apple Pay to their apps and allows for the control and flexibility they need to provide the best payment experiences for their customers - whether it’s credit cards, debit cards, wallets like PayPal and Apple Pay and even bitcoin (coming soon)."

On the Wires:

  • New Yardi Genesis2 Platform Hits the Market - "Designed with both residential and commercial portfolio operators in mind, Yardi Genesis2 includes an integrated general ledger with streamlined accounts receivable and accounts payable along with features for multifamily such as online rent payments, automated common area maintenance (CAM) reconciliations for commercial, and overage tracking for retail clients."

Updates from Glenbrook:

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

October 09, 2014

Headline News from PaymentsNews.com - October 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!

October 01, 2014

Glenbrook Report from Sibos 2014

PaymentsViews logo 140px Glenbrook's Elizabeth McQuerry is at Sibos 2014 in Boston this week, and has posted some initial impression of this years conference.

So, what have I seen so far? The biggest idea so far has been a demo of a real-time, payment transaction risk-scoring module. You read that correctly: real time, transaction risk-scoring. This gets to a fundamental problem for banks – what types of activities are my customers up to?
The full post is over on Payments Views.

September 30, 2014

Out of Africa: Watching the Evolution of Mobile Money

PaymentsViews logo 140px Glenbrook's Bryan Derman is just back from a client engagement in Nairobi and shares his perspective on mobile money in Kenya.

While M-Pesa started and still embodies the phenomenon, other players have entered the market in Kenya, ranging from other wireless telcos to innovative banks, raw start-ups, and the Kenyan postal service (acting mainly as a distribution channel). In addition, the success of M-Pesa is driving investment in mobile money systems across Africa and in many developing economies around the world.
The full post is over on Payments Views.

September 12, 2014

Headline News from PaymentsNews.com - September 12, 2014

On the Web:

On the Wires:

  • Prepared Remarks of CFPB Director Richard Cordray at the Consumer Advisory Board Meeting - CFPB - "In short, at the Consumer Bureau, we are not content just to watch technology unfold before considering and taking appropriate action as it affects consumers in the financial marketplace. We intend to move forward alongside industry, keeping an eye out to protect consumers as these new technologies develop, not simply after-the-fact."
  • TSYS and iMobile3 Partner to Provide Apple Pay Integration - “TSYS’ partnership with iMobile3 allows our merchants to interact and connect with customers using a best-in-class mobile storefront experience and allows secure payments with Apple Pay. We expect Apple’s entry into mobile payments to revolutionize the industry and we are happy to be at the forefront along with iMobile3,” said Craig Ludwig, head of product, TSYS Merchant Services.

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!

September 11, 2014

Headline News from PaymentsNews.com - September 11, 2014

On the Web:

  • Apple Pay Stirs, But Doesn’t Shake, the Mobile Landscape - PaymentsViews.com (George Peabody) - "Looked at it from the payment context alone, Apple Pay does not do a great deal more than what Softpay/Isis and Google Wallet have already achieved. But the combination of Apple’s design focus and its assumption of a reasonably non-threatening role within the payments ecosystem should make a difference."
  • MasterCard Loses EU Court Case Over Interchange Card Fees - Wall St. Journal - "Europe's top court on Thursday backed a decision by the European Commission to ban cross-border fees set by MasterCard on the grounds that they harmed competition."
  • How Apple Pushes Entire Industries Forward - HBR Blog Network (Maxwell Wessel) - "Apple used its power as an impatient convener to move an industry. Yesterday, Tim Cook showed that, like the White House, when Apple calls, you answer."
  • How Apple Pay works and why it matters for developers - Clover Developers Blog - "Apple Pay marks the first time a popular operating system is making payments a platform service for real-world, non-digital-good transactions, in a broad, inclusive manner that is compatible with the mainstream payments processing industry."
  • Apple Pay and the CFPB - Credit Slips (Adam Levitin) - "I think Apple may have just become a regulated financial institution, unwittingly. Basically, I think Apple is now a "service provider" for purposes of the Consumer Financial Protection Act, which means Apple is subject to CFPB examination and UDAAP."
  • 8 ways that iOS 8 will change mobile engagement - Mobile Commerce Daily - "Over the last five years, push notifications have grown from a developer tool to deliver alerts to users to become the most transformative marketing technology of the last decade, driving dramatically greater consumer response than traditional channels such as email."
  • Coinbase Expands Internationally, Now Available In 14 Countries - Coinable Blog - "Coinbase is now available in 14 countries. We’re adding 13 additional countries across Europe including Italy, Spain, France, Belgium, the Netherlands, Austria, Cyprus, Finland, Greece, Latvia, Malta, Portugal, and Slovakia."

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!

September 08, 2014

Headline News from PaymentsNews.com - September 8, 2014

On the Web:

On the Wires:

  • BitPay Opens Larger Amsterdam Office - “Europeans are familiar with multiple currencies and are at the forefront of mobile technology adoption, so it’s easy to see why bitcoin is popular and widely-used.”

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!

September 04, 2014

Headline News from PaymentsNews.com - September 4, 2014

On the Web:

  • Top of Mind Payment Issues in Europe - PaymentsViews.com (Elizabeth McQuerry) - "One overarching point is that even as the Euro serves as a common currency in 18 countries, you really can’t think in terms of “European payment preferences”. Rather, there are German payment preferences, French payment preferences, and so on."
  • McDonald’s preparing for launch of NFC-based mobile payments system - Mobile Commerce Daily - "An internal memo sent to McDonald’s franchises this week informed employees that they must be trained on the near-field communication (NFC) payment systems by Monday, Sept. 15..."
  • Merchants Will Decide The Fate of Apple's Mobile Wallet - Forrester (Denée Carrington) - "To be successful, Apple’s wallet must have a compelling merchant value proposition - like lowering a merchant’s operational costs or helping to drive more revenue - in order to win merchant acceptance and preference at checkout."
  • Top US Colleges Begin Offering Bitcoin Courses - CoinDesk - "Professor Geoffrey Miller taught the first class of NYU’s new course, The Law and Business of Bitcoin and Other Cryptocurrencies, yesterday."
  • Peter Thiel's contrarian strategy - Fortune - "Among students of business, PayPal may be known less for its own success than for the subsequent achievements of the people Thiel helped attract to build it."
  • Episode 565: The Story Of Alibaba - NPR Planet Money Podcast - "You can think of Alibaba like Amazon or Ebay, except you can buy way more on Alibaba — you can get a used 747 airplane, or an oil tanker, or 500 million tiny screws."

On the Wires:

  • FIS Brings Instant P2P Payments Capabilities to EverBank - “EverBank clients want to be able to quickly send payments online or from their mobile phones to friends, family or colleagues, using just an e-mail or mobile number, and they trust us to provide those payment services safely and securely,” said Vincent Amato, EverBank senior vice president and director of banking operations. “FIS People Pay allows us to provide such a service, fully branded to our bank, so our clients have the safe, secure payment services they’re looking for.”
  • Pizza Hut and Visa Checkout Ready to Dish Up A Million Pizzas - “Visa Checkout offers our customers another simple and secure way to quickly order online from Pizza Hut, and we’re excited to be the first pizza company to pass along this convenience to consumers,” said Carrie Walsh, chief marketing officer for Pizza Hut. “With this incredible offer of one million pizzas we think people will be energized to experience this latest technology.”

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!

September 02, 2014

Who’s a Better Fraud Investigator — You or Your Bank?

PaymentsViews logo 140pxGlenbrook's Jay DeWitt recently asked readers to participate in an online survey asking about card fraud detection. In a followup post this morning on PaymentsView.com, Jay shares the results from the survey.

The results are in and, well, it looks like it’s more or less a tie: cardholders initially detected card fraud slightly more often than their issuers. But when a second instance of fraud was experienced by those same cardholders, it was the issuer that was the first to notice the bogus transaction.
Read the full post and share your comments with Jay over on PaymentsViews.com!

July 31, 2014

Headline News from PaymentsNews.com - July 31, 2014

On the Web:

On the Wires:

  • MasterCard Incorporated Reports Second-Quarter 2014 Financial Results - “We are pleased with another quarter of solid performance, driven by healthy volume and revenue growth,” said Ajay Banga, president and CEO, MasterCard. “We continue to invest in our strategic initiatives, including acquisitions, while strengthening partnerships with banks, merchants, governments and mobile operators to grow and improve our business and theirs.”
  • Vantiv Reports Second Quarter 2014 Results - "The second quarter marks an exciting time at Vantiv," said Charles Drucker, president and chief executive officer at Vantiv. "We delivered another solid quarter of growth, and we executed on many of our strategic initiatives. By investing in high-growth channels, we have positioned Vantiv as a leader in the industry that will win share as the market evolves."
  • LifeLock Announces New Personalized Alerts Across Credit Cards, Checking, Savings and Investment Accounts - LifeLock President Hilary Schneider said, “Only LifeLock can monitor for identity theft across such a broad array of a consumer’s financial accounts, going significantly beyond simple credit monitoring. Consumers now have even more tools to give themselves peace of mind. This is particularly important in a digital world where identity thieves are constantly changing tactics"
  • BitFury Announces Hosted Mining Services - "BitFury is one of the oldest and largest Bitcoin miners in the world. Some 40 percent of all Bitcoins are mined using BitFury chips."

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!

July 17, 2014

Headline News from PaymentsNews.com - July 17, 2014

On the Web:

  • We are excited to announce that Twitter is acquiring CardSpring! - CardSpring Blog - "When we started talking with the Twitter commerce team, we quickly realized our philosophies were perfectly aligned, and by joining them, we’d be able to significantly accelerate our vision."
  • Welcoming CardSpring to the Twitter team - Twitter Advertising Blog - "We’re excited to announce we’ve agreed to acquire CardSpring, a payments infrastructure company that helps merchants work with leading publishers to create online-to-offline promotions."
  • Coming Soon to Social Media: Click to Buy Now - New York Times Bits Blog - "A Twitter spokesman declined to comment on the imminence of a buy button, but in its blog post about CardSpring, the company teased, “We’ll have more information on our commerce direction in the future.”
  • What the BRICS Tell Us About Payments - PaymentsViews.com (Elizabeth McQuerry) - "Are such state sponsored payments improvements the way to go? Am I prophesying that the end is near for private sector innovation in payments? Certainly not, or at least I hope not."
  • Snapchat may be planning a mobile payment service - iMore.com - "The documents reveal that the ephemeral message service is looking to process peer-to-peer payments, money transfers and online payments."
  • Investors Cash Out Of Payment Technology Startups - TechCrunch - "Even as a clutch of new payment technology companies including Zooz Mobile and Plastiq announce new financing rounds today, it seems like investors are no longer paying out for payment companies."
  • Issuers – Why You Need to Plan for EMV Now - FIS Emerging Payment Strategies Blog - "While EMV is not a silver bullet, it is an improvement over magstripe. It may not have prevented some of the recent major breaches, but it would have reduced overall damage since there would have been fewer cards vulnerable to counterfeiting."
  • New York’s New Bitcoin Rules Are Going to Kill Its Startups - Wired - "Is New York about to drive these startups out of town by clubbing them with onerous regulations before they can walk? Quite possibly."

On the Wires:

  • NY DFS Releases Proposed Bitlicense Regulatory Framework for Virtual Currency Firms - "Benjamin M. Lawsky, Superintendent of Financial Services, today announced that the New York State Department of Financial Services (DFS) has issued for public comment a proposed “BitLicense” regulatory framework for New York virtual currency businesses. The proposed regulatory framework – which is the product of a nearly year-long DFS inquiry, including public hearings that the Department held in January 2014 – contains consumer protection, anti-money laundering compliance, and cyber security rules tailored for virtual currency firms."
  • CU Wallet Reports Record Growth, 65 Credit Unions Join Mobile Wallet Movement - "Collaboration among credit unions continues to be one of our industry's greatest strengths,” said Keith Sultemeier, president and CEO of Kinecta Federal Credit Union. “The CU Wallet platform makes collaboration easy and efficient, but still allows credit unions to tailor the member experience."
  • CashStar Launches Digital Gift Card Solution for Google Wallet - “With the rapid growth of omni-channel retail, digital gifting and smartphone adoption, CashStar’s vision is not ‘mobile first’ but rather ‘mobile everything,’” said Ben Kaplan, president and CEO of CashStar.
  • MasterPass Now Live in 10 Countries with Launches in Poland and South Africa - “We’re extremely excited about new capabilities and delivering on the MasterPass vision of a fully integrated digital payments ecosystem that enables convenient, simple, fast and secure payments anytime, anywhere,” said Vib Prasad, Group Head, MasterPass at MasterCard.
  • WEX Inc. Announces Signing of Definitive Purchase and Sale Agreement Related to the Acquisition of ExxonMobil’s Esso Card Program - “The purchase of the Esso Card portfolio remains an important element to building our on-the-ground presence in the European market, and enhances WEX’s long-term growth profile. Our efforts to advance this transaction remain on track and position us to create a substantial and profitable European footprint,” said Melissa Smith, WEX’s president and chief executive officer.

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!

July 07, 2014

MCX – Now I Get It! - New on PaymentsViews.com

PaymentsViews logo 140pxIn a new PaymentsViews.com post titled "MCX – Now I Get It!", Glenbrook's Jay DeWitt shares some of his thoughts about MCX - the Merchant/Customer Exchange.

It dawned on me yesterday, MCX makes perfect sense if you think of it as enabling merchants to better exchange customer spending habits with manufacturers, consumer packaged good manufacturers (CPGs) and others to create more timely, relevant and compelling offers to those merchants’ customers!
Read the rest of Jay's comments and then share your own with him.

July 01, 2014

Headline News from PaymentsNews.com - July 1, 2014

On the Web:

On the Wires:

  • MasterCard and Borderfree Team Up to Bring Exclusive Savings at Top U.S. Retailers - David Chan, Senior Vice President and Group Head, Market Development, South East Asia, MasterCard, said: “In an increasingly globalized world, consumers have a growing desire for the products and brands that these international online merchants carry. Through our partnership with Borderfree, we are able to provide MasterCard cardholders savings on shipping costs and an enhanced global shopping experience that is smooth, simple and most importantly secure.”
  • 1-800-FLOWERS.COM Partners with Coinbase to Accept Bitcoin - "Beginning this fall, 1-800-FLOWERS will be adding bitcoin as a payment option across its extensive family of gifting sites, including 1-800-FLOWERS.COM, FannieMay.com, Cheryl’s.com, ThePopcornFactory.com, 1-800-Baskets.com, FruitBouquets.com, and Stockyards.com."
  • Hold the Phone: U.S. Consumers Wouldn’t Last One Day Without Access to Their Smartphone - "Almost one in two (47 percent) U.S. consumers admit they wouldn’t last a day without their smartphone, and many consider their devices more important than daily staples such as coffee and television, according to a new report released today by Bank of America. Of those who use their phones for banking, almost one-third (31 percent) say they log on at least once a day, and four out of five (82 percent) access their accounts at least once a week or more."
  • State Bank of India Launches New Digital Online and Self-Service Banking Solutions with Support from Accenture - “InTouch is the start of SBI’s Digital journey,” said S K Mishra, deputy managing director, State Bank of India. “This is our attempt to put our brand in touch with the dreams of the aspirational customer. It’s a deep rooted transformation that has three aspects: a transformation of the customer experience we deliver; introduction of device centric technology that is at the forefront of our global peers; and transformation of the behavioral model of our staff-base to be even more customer centric.”

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!

June 23, 2014

Headline News from PaymentsNews.com - June 23, 2014

On the Web:

  • The Fed Gets Some Mojo? - PaymentsViews.com (Carol Coye Benson) - "I was delighted to hear that they believe that a new, faster-payments infrastructure may be the best option for our industry."
  • Bitcoin and Charities Were Made For Each Other, They Just Don’t Know It Yet - A VC (Fred Wilson) - "This talk brings together three of the things I have been spending most of my time on over the past year (crowdfunding, bitcoin, and philanthropy). If you want to hear me talk about the things that get me up and out of bed in the morning, come to this."
  • Exclusive: McDonald's Is Secretly Testing Its Own Order-Ahead And Payments App - Business Insider - "McDonald’s is quietly testing an order-ahead and mobile payment app at a tiny handful of its more than 14,000 U.S. locations."
  • BancSouth Wins Big - Bank Lawyer's Blog - "A recent Eighth Circuit Court of Appeals decision in favor of BankSouth bodes well for financial institutions who understand their obligations under UCC Article 4A and take those obligations seriously."
  • Card Wash: Card Breaches at Car Washes - Krebs on Security - "An investigation into a string of credit card breaches at dozens of car wash locations across the United States illustrates the challenges facing local law enforcement..."

On the Wires:

  • Bank of America Changes the Game With Preferred Rewards - “Preferred Rewards is the first program of its kind to offer clients benefits and rewards for everyday banking,” said Dean Athanasia, president of Preferred Banking at Bank of America. “It is the result of deep client research to develop and deliver a simple program that provides clients benefits and rewards they will actually use, and shows them how much we appreciate it when they choose to do more business with us.”
  • SimplyTapp Announces Self-Serve HCE Platform - "We are excited to make this exceptional offering to issuers and application developers; it is consistent the technology built into our agile and scalable platform. HCE is a new and tremendously empowering feature for card issuers, so it is important that the process of 'getting familiar with' and using the new technology be as friction free and open as possible," Doug Yeager, co-founder and CEO of SimplyTapp.
  • Housetab Mobile Application Launches in New York - "HouseTab is the only mobile payment app that provides convenient, multi-functional solutions for both payments and social networking, revolutionizing the social experience for its users."
  • American Express Names Laureen E. Seeger General Counsel - "Ms. Seeger, 52, has served as executive vice president, general counsel and chief compliance officer of McKesson since 2006."

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!

May 29, 2014

Headline News from PaymentsNews.com - May 29, 2014

On the Web:

  • What’s Your GPA? - PaymentsViews.com (Jay DeWitt) - "Based on knowledge we’ve developed through industry benchmarks, client work, and our own operational experience in the payments business, the GPA program quickly assesses your payments organization and recommends targeted, actionable steps you can take to optimize your payments business."
  • The Cost of Checks in Small Business Payments - Dwolla Blog - "Our latest release of Next Day Transfers allows businesses, government agencies, and non-profits to move funds in and out of the Dwolla network faster than ever, increasing control of your cash flow and reducing billing or procurement cycles."
  • How Should Bitcoin Be Regulated? - Montreal Economic Institute (David Descôteaux) - "This Economic Note presents an analysis of the situation in Canada and in other countries that have adopted regulatory frameworks for Bitcoin."
  • DISH Teams Up with Coinbase to Become Largest Company to Accept Bitcoin - Coinbase Blog - "DISH today announced they are the largest company and first subscription model pay-TV provider to accept bitcoin..."

On the Wires:

  • Bitcoin’s future hinges on a clear legal status - “These clear rules, as well as a tax treatment that allows Bitcoin to be used as a currency, explain why the digital currency is popular in Germany and why this country was one of the first Bitcoin hubs. Canada has so far been quite welcoming to Bitcoin, and in clarifying its own regulatory framework, it should ensure that it remains so,” concludes David Descôteaux.

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!

May 20, 2014

Headline News from PaymentsNews.com - May 20, 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!

May 14, 2014

Headline News from PaymentsNews.com - May 14, 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!

May 01, 2014

Headline News from PaymentsNews.com - May 1, 2014

On the Web:

  • Merchants and Billers: Leverage = Options x Time! - PaymentsViews.com (Jay DeWitt) - "The solution to these situations simple: figure out when your acquirer contract expires, and get it on your planning calendar so you’re teed up to begin negotiations 6-12 months before contract term."
  • In Bitcoin Debate, Larry Summers Sides with the History of Change - Wall St. Journal Moneybeat - "To Mr. Summers, the potential contained in bitcoin’s breakthrough technology, with its fast, low-cost system for confirming transactions, is demonstrated by problems with the current multi-layered system for domestic and global fund transfers."
  • Payment Innovation Is Not Enough For Retail - TechCrunch (Dax Desilva) - "Commerce is all about bringing the right product to the right shopper at the right time, but the payment only addresses the close. To differentiate, merchants need to focus on innovating everything else that happens long before we reach the register..."
  • The death of cash? Debit card use surges - Telegraph (UK) - "Plastic and automated payments are now the most popular method of payment by both volume and size of transactions, according to current account data published by Halifax."
  • HCE vs. BLE: Which has the bigger in-store potential? - Mobile Commerce Daily - "While both NFC and BLE are likely to bring some important innovations to the in-store experience, they also have their limitations."
  • EMV is Not a Panacea for Transaction Security - Verifone Blog (Jeff Wakefield) - "Yes, EMV is more secure than mag-stripe technology, and when fully rolled out it will do a good job of reducing card fraud. But until mag-stripes are eliminated from cards; mag-stripe readers are no longer in use, and until merchants completely eliminate usable data from their environments, EMV will remain a “better option,” but it won’t prevent the theft of cardholder entirely."
  • ‘Dark Wallet’ Is About to Make Bitcoin Money Laundering Easier Than Ever - Wired - "On Thursday, a collective of politically radical coders that calls itself unSystem plans to release the first version of Dark Wallet: a bitcoin application designed to protect its users’ identities far more strongly..."

On the Wires:

  • Chase Launches Marriott Rewards Premier Visa Signature Business Credit Card for Small Business Owners On the Go - "Chase Card Services and Marriott Rewards® today announced the launch of the Marriott Rewards Premier Visa Signature® Business Credit Card designed for small business owners who travel frequently for business or pleasure. With the Marriott Rewards Premier Business Credit Card, small business owners have the ability to earn accelerated Marriott Reward points on all purchases, accumulate free night stays, and receive automatic Silver Elite Status once they become a cardholder."
  • MasterCard Incorporated Reports First-Quarter 2014 Financial Results - "The company reported net income of $870 million, up 14%, and earnings per diluted share of $0.73, up 18%, in each case versus the year-ago period."
  • Worldpay announces strategic acquisition of Cobre Bem Tecnologia - "Worldpay Group today announced that it has acquired Cobre Bem Tecnologia, a leading provider of payment solutions in Latin America, for an undisclosed amount. With this transaction, Worldpay’s eCommerce division will further strengthen its global reach, giving its customers access to a wide range of payment products in Brazil, Argentina, Colombia, Chile and Mexico."
  • Qualcomm Establishes Retail Solutions Subsidiary as Standalone Company -- Gimbal, Inc. - "The QRS team has made tremendous progress with the Gimbal technology platform and I am excited to continue leading this group as CEO of Gimbal, Inc.," said Rocco Fabiano, current president of QRS. "I am eager to continue working with this team under a new corporate structure that will permit the business to respond quickly to this rapidly evolving ecosystem."
  • Wells Fargo Commercial Cards Are Europe-Bound - "In a related announcement, Wells Fargo said all new USD WellsOne® Commercial Cards will be embedded with microprocessor chips defined by E.M.V. (Europay, MasterCard, and Visa) standards. In addition, Wells Fargo has begun migrating all of its existing cardholders over in advance of the October 2015 deadline in the United States."
  • Wells Fargo Launches Wells Fargo Works for Small BusinessSM - "Wells Fargo Works for Small Business provides wide-ranging support for business owners throughout the U.S. to help them build knowledge, access capital and expand their community of support. Wells Fargo Works for Small Business encompasses the company’s commitment to helping small businesses grow."

Updates from Glenbrook:

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

April 18, 2014

Headline News from PaymentsNews.com - April 18, 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!

April 17, 2014

Headline News from PaymentsNews.com - April 17, 2014

On the Web:

On the Wires:

  • MasterCard Board of Directors Recommends Two New Candidates for Election - “The world continues to get smaller and technology opens new doors every day,” said Richard Haythornthwaite, Chairman of the Board, MasterCard. “MasterCard is advancing to meet consumer, business and societal needs in an increasingly digital world, while maintaining a focus on convenience and security. Merit and Julius’ experience and insights will add to and complement our existing Board as we pursue this vision.”
  • Warburg Pincus To Acquire Electronic Funds Source - "Warburg Pincus ... today announced it has entered into a definitive agreement whereby one of its affiliates will acquire 100% of Electronic Funds Source LLC, a leader in innovative corporate payments solutions, from an investor group including First Data Transportation Services, Inc., CTP Holdings LLC and FJ Management Inc."
  • Lending Club Acquires Springstone - "As part of the financing of this transaction, Lending Club also announced the closing of an equity capital raise. Investors in the $65 million round included funds and accounts managed by T. Rowe Price Associates, Inc., Wellington Management Company, LLP, BlackRock and Sands Capital."
  • Worldpay Launches China Sales Office - "The Shanghai office is headed up by Tang Kok San, VP – Business Development China, and will offer all of Worldpay’s e-commerce customer-facing functions, including relationship management and corporate support."

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, 2014

A Look at a Modern API for Card Data

PaymentsViews logo 140pxIn an article titled "Plaid – A Modern API for Card Data", Glenbrook's Russ Jones writes for PaymentsViews.com about Plaid - a new startup company that Russ says "is making the first serious attempt we’ve seen in a while that rethinks the quality of the transaction data."

Every consumer knows how confusing it can be to open up a statement or view their recent activity and find a bunch of transactions for purchases that are not obvious at first glance or maybe not even obvious after a detailed investigation. What is this? Is this a gas station? Was that me or somebody else using my card? And that’s with human reasoning. It gets a lot worse when you try to couple that level of transaction data quality with analytics and third party apps.

Be sure to read more of Russ' thoughts - and share your comments!

March 25, 2014

Same Day ACH - A Step (or Lurch) Ahead...

PaymentsViews logo 140pxIn an article titled "Same Day ACH – A Step (or Lurch) Ahead" on our PaymentsViews.com blog, Glenbrook's Carol Coye Benson writes about last week's announcement by NACHA that it has plans for a phased introduction of same-day settlement for ACH. Carol spoke earlier today with NACHA President and CEO Jan Estep.

Carol writes:

For now, Estep emphasizes that this is the important settlement “layer” – and that products and services will be defined by financial institutions that can rely on the reduced counterparty risks enabled by this initiative. NACHA’s vision is that same day settlement will start with “push” credit transfers – for all ACH types, including P2P, payroll, bill payment and B2B. Receiving banks (RDFI’s in the ACH system) would be required to receive the transactions, and rules are expected to specify same-day posting to recipient accounts.

Be sure to read Carol's article and add your comments on NACHA's new initiative.

March 20, 2014

What Comes After Bitcoin?

PaymentsViews logo 140pxOn our PaymentsViews.com blog, Glenbrook's George Peabody writes about math-based currencies:

Don’t get too attached to how Bitcoin looks today. It or its immediate successor is going to change. Moving to another math-based currency may be in your future because we are only at the end of the beginning of the math-based currency journey.

Read and comment on his post here!

March 13, 2014

A Look at the Evolution of Payments in Southern Africa

PaymentsViews logo 140pxIn a new post titled How to Get Along and Do Good on our PaymentsViews blog, Glenbrook's Elizabeth McQuerry writes about recent developments with payments in southern Africa led by the efforts of the Southern African Development Community (SADC).

Building on a new base of real time gross settlement (RTGS) systems in most countries (efforts supported by the World Bank), the central bank governors in the SADC countries agreed back in 2009 to deploy the additional infrastructures needed to easily exchange bank to bank payments among the SADC countries. These systems have become a regional inter-bank settlement system and a regional clearing capability for EFT credits and debits.
Be sure to read the rest of her post and comment here.

March 03, 2014

Cards and Wallets and Mobile Payments - Oh My!

PaymentsViews logo 140pxOver on our PaymentsViews.com blog, Glenbrook's Carol Coye Benson tries her had at a one page diagram illustrating the evolution of cards, wallets and mobile payments.

What really jumps out for me is the issue of card-not-present rules for cloud wallets. Particularly if these wallets are populated with issuer tokens...
Read her post here - and add your comments!

February 27, 2014

The Chernobyl of Payments?

PaymentsViews logo 140pxIn an article titled "Is the Target Breach the Chernobyl of Payments?" on our PaymentsViews.com blog, Glenbrook's Allen Weinberg says he's "been thinking that the Target breach has become the Chernobyl of the payments world."

I’m wondering if we, who unlike Europeans and others, can’t be bothered to use Verified by Visa and MasterCard SecureCode because “we’re protected anyway”, may be taking a different view of who we give our payment credentials to after “Payments Chernobyl” and what steps we’ll be willing to take to protect our accounts.

Has the Target breach affected your use of cards for payments? Read Allen's article and add your comments - he'd enjoy hearing from you.

February 26, 2014

New on PaymentsViews.com: Mt.Gox Collapses, Bitcoin Shrugs It Off

PaymentsViews logo 140pxIn a post on our PaymentsViews.com web site, Glenbrook's George Peabody takes a look at recent Bitcoin events - and writes "This is not, however, an existential event for Bitcoin as some news outlets have claimed."

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