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Welcome to the News View for "Prosper".

Here, on these archive pages, you'll find all of the articles on Payments News for Prosper 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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March 14, 2016

Headline News from - March 14, 2016


  • The Death of Bank Products has been greatly under-exaggerated - Brett King - "When it comes to customer behavior, however, the greatest challenges for banking are yet to come and they aren’t channel-based, they’re product-based."
  • In the Apple Case, a Debate Over Data Hits Home - New York Times - "In surveys, Americans are deeply divided about the legal struggle between the government and one of the nation’s most iconic companies. The polls show that Americans remain anxious about both the threat of terrorist attacks and the possible theft of personal digital information."
  • For Millennials, Cash Is Still King - eMarketer - "Even with digital peer-to-peer (P2P) methods like PayPal and Venmo available, millennials prefer getting paid back in cash..."


  • Prosper Marketplace and HomeAdvisor Partner to Bring Home Improvement Financing to Millions - “Prosper offers people the opportunity to borrow money at rates that are typically lower than credit cards – it’s a smart financing option that can help homeowners improve their property while staying in financial control.”
  • Blackhawk Network Appoints Anil D. Aggarwal to Board of Directors - "Anil is an early pioneer in financial technology and payments innovation," said Talbott Roche, Blackhawk Network president and chief executive officer. "His proven experience as a startup tech entrepreneur, venture capital investor, executive at Google and as an industry-builder with Money20/20 and Shoptalk enable him to bring valuable industry and business insights to Blackhawk's board of directors."


Our next Glenbrook payments education events are coming up in early April - both in New York City - we hope to see you there!

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


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:!

March 10, 2016

Headline News from - March 10, 2016


  • The future of mobile wallets in India - The Hindu BusinessLine - "The consumer payments industry (specifically wallets) will play a crucial role in the future growth of digital payments in the country."
  • R3: Biggest-Ever Blockchain Trial is Only the Beginning - CoinDesk - "Going forward, he said, the company plans to drill down into other areas of focus including distributed ledger interoperability, privacy, identity and scalability, and that the tests were likely to be smaller in scale."


  • Banking on the new is even easier - “Customers continually seek easy ways to access their accounts, so we’re making it easier for customers to bank their way,” said Gavin Michael, Head of Digital for Chase. “We’re excited to bring the look and feel that customers love on the new home page to behind the sign in experience.”
  • Prosper Marketplace Unveils Prosper Daily, Its First Mobile App - “By using Prosper Daily just a few minutes a day, consumers can begin to get on top of their finances” said Aaron Vermut, chief executive officer of Prosper Marketplace. “We’re excited to be the first marketplace lender to offer a financial wellness app to consumers.”


Our next Glenbrook payments education events are coming up in early April - both in New York City - we hope to see you there!

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


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:!

September 24, 2015

Headline News from - September 24, 2015

On the Web:

On the Wires:

  • MasterCard Transforms Aid Distribution - "MasterCard today launched the MasterCard Aid Network, an end-to-end, non-financial service designed to streamline aid distribution even in the absence of telecommunications infrastructure. Now, impacted populations can secure basic needs swiftly with the simple dip of a card."
  • Prosper Marketplace to Acquire Leading Personal Finance Company BillGuard - “Both BillGuard and Prosper Marketplace are focused on empowering consumers to be financially secure, smart and successful,” said Yaron Samid, co-founder and CEO of BillGuard. “Joining forces means that BillGuard can continue to innovate while contributing to the evolution of Prosper Marketplace as a full-service financial management company.”
  • Wells Fargo: Text and Email Alerts to Customers Exceed Half a Billion This Year - “Customers feel good when they have timely information that lets them know where they stand when it comes to their finances,” said Brett Pitts, head of digital for Wells Fargo Virtual Channels. “Email and text alerts offer just that, allowing them to make decisions that can save them money and make their banking easier.”
  • Seamless Launches Tomorrow’s Digital Cash Register – Free Cash Register Included in SEQR That Eliminates the Need for Physical Card Readers - "Seamless is launching a digital cash register for the company’s SEQR payment solution. All SEQR users will now have access to the digital cash register, which becomes a standard feature of the SEQR app. The solution enables small enterprises and private individuals to receive payment without the need for a physical card reader or incurring high transaction costs."
  • PowaPOS Expands Global Footprint Through Partnership with Canadian Leader CT-Payment - “By integrating CT-Payment into our SDK, our companies have removed the burden from the ISV and ISO of becoming payments experts, and provided them with a value-added service they can use to get their merchants to market faster,” said Jeff Dumbrell, CEO, PowaPOS. “And, with CT-Payment’s Interac certification, we both dramatically simplify the transition to tablet POS that Canadian merchants are seeking; while also ensuring that the most advanced, secure payment processing is available.”
  • TSYS Signs Payments Agreement with Premier Bank - "TSYS (NYSE: TSS) announced today that The Premier Bank Limited, a leading commercial bank in Bangladesh, has signed an agreement to upgrade to PRIME 4, the latest version of TSYS’ PRIME payment solutions platform."

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

January 27, 2015

Headline News from - 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:!

May 05, 2014

Headline News from - May 5, 2014

On the Web:

On the Wires:

  • Statement from Target’s Board of Directors - “Today we are announcing that, after extensive discussions, the board and Gregg Steinhafel have decided that now is the right time for new leadership at Target. Effective immediately, Gregg will step down from his positions as Chairman of the Target board of directors, president and CEO. John Mulligan, Target’s chief financial officer, has been appointed as interim president and chief executive officer."
  • Prosper Marketplace Announces $70 Million Investment Round Led by Francisco Partners - “We are thrilled to welcome Francisco Partners, IVP, and Phenomen Ventures as equity investors in Prosper Marketplace,” said Aaron Vermut, CEO, Prosper Marketplace.
  • TSYS Announces Executive Transition - "TSYS today announced the retirement of James B. Lipham as Senior Executive Vice President and Chief Financial Officer effective June 30, 2014, and the appointment by the TSYS Board of Directors of Paul M. Todd as Senior Executive Vice President and Chief Financial Officer effective July 1, 2014."

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:!

August 07, 2013

Headline News from - August 7, 2013

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. Find something interesting to share? Tell us about it:!

October 04, 2010

Prosper Releases Person-to-Person Lending Metrics, a peer-to-peer lending marketplace with over $205 million in funded loans, has announced that it has surpassed the one million member milestone. “It’s pretty incredible that one million people – a population greater than our headquarter City of San Francisco – have engaged with Prosper,” said Chris Larsen, CEO and Co-founder of Prosper.

August 18, 2010

Prosper Releases 12-Month Peer-to-Peer Lending Stats

prosper_logo_140px.jpg today released 12-Month Performance Statistics and its monthly market survey data for July 2010.
“The focus at Prosper for the past twelve months – the period following Prosper’s SEC registration quiet period – can be summed up into two words: Risk Management,” said Chris Larsen, Chief Executive Officer and Co-founder of Prosper. “From building out our leadership team with world class risk management and analytics experts to the refinement of our risk and credit scoring models, success this past year has been defined by our disciplined approach to risk/return tradeoff and dramatically improved lender performance.”
The company claims to be the world’s largest peer-to-peer lending marketplace with over 34,000 loans totaling $202 million. The weighted average Prosper borrower credit score is 738.

April 16, 2010

Prosper Marketplace Raises $14.7 Million Series D Financing has announced that it has raised $14.7 million in a Series D round from new investors TomorrowVentures, LLC and CompuCredit Holdings Corporation and all of Prosper’s existing investors: Accel Partners; Benchmark Capital; DAG Ventures; Meritech Capital Partners; Omidyar Network; QED Investors; and Volition Capital (formerly Fidelity Ventures). Including this latest round of financing, Prosper has raised a total of $57.7 million to date. READ MORE »

July 14, 2009

Prosper's SEC Registration Declared Effective

Prosper.pngYesterday, Prosper announced the successful completion of its registration process with the Securities & Exchange Commission (SEC). As a result, Prosper's peer-to-peer (P2P) loans marketplace "has resumed for borrowers nationwide and lenders in 14 states with others soon to follow. Prosper is the first Internet auction-based P2P loans platform to have its registration statement declared effective by the SEC — a move that marks a significant breakthrough for the P2P lending industry." READ MORE »

October 16, 2008

An Update on Person-to-Person Lending in the US

In an article titled "Lending Alternative Hits Hurdle", Brad Stone writes for the New York Times about some recent challenges being faced by the person-to-person lending companies in the US market. Last week, Zopa announced it was exiting the US market. Yesterday, announced it stopped accepting new lenders pending registration of its securities with regulatory authorities. Earlier this week, Lending Club announced it had completed its registration of $600 million in securities.

May 07, 2008

An Update on Prosper's New Slogan, Advertising

Jim Bruene's Netbanker reports on person-to-person lender's new marketing initiatives including its new slogan: "Let's bank on each other." More on the Prosper Blog.

May 06, 2008

A Lament about Disconnected Banking in a Connected World

On The FinanSer, Chris Skinner blogs about today's world of what he calls 'disconnected banking' - noting that bankers have 'managed to get customers out of branches and transform them into data entry clerks, who serve themselves through ATMs and the Internet.' Who's he watching instead? The social finance sites like Zopa, Prosper and more - typically dismissed by bankers as 'folly, unpractical, unregulated and untenable.'

March 12, 2008

A Look at Person-to-Person Lending

In an article titled 'Where Either a Borrower or a Lender Can Be', Jane J. Kim writes for the Wall St. Journal about person-to-person lending networks (like, Lending and and how small business owners are increasingly turning to those networks as access to bank credit has become more difficult.

Update: Jim Bruene gets this one right over on his NetBanker blog - it's actually about person-to-business lending!

October 09, 2007

Prosper Updates People-to-People Lending Market Survey has updated its People-to-People Lending Market Survey to reflect results through the end of September. In September, $5.4 million in loans were funded at an average loan size of $7,175. Over average over the month, 2,298 borrowers were looking for loans. A market commentary by CEO Chris Larson addressed the question of whether the Prosper lending marketplace anticipated the Fed's recent 50 basis point cut in interest rates.

September 12, 2007

Prosper’s People-to-People Lending Market Survey

Prosper has introduced its first monthly People-to-People Lending Market Survey that provides key statistics including: membership and loan volume statistics, marketplace returns; borrower rates; mix of prime, near prime and sub-prime loans, noteworthy marketplace statistics/trends and a market commentary by Chris Larsen, Chief Executive Officer of Prosper.

July 18, 2007

Lending Online to Strangers

In an article titled 'Options Grow For Investors To Lend Online", Jane Kim writes for the Wall St. Journal about new web-based services enabling investors to lend money to strangers online. She reports that has about $60 million in loans outstanding so far this year and cites the Online Banking Report's estimate that a total of about $100 million in loans will be originated by all providers this year.

April 01, 2007

Become Your Own Bank - Another Look at

Personal finance columnist Eileen Ambrose writes for the Baltimore Sun about - saying that "with people becoming their own publisher by blogging, or creating their own videos and political commercials on YouTube, it was just a matter of time before they became their own banks."

March 19, 2007

Borrowing Money via

The Get Rich Slowly blog has an interesting post titled "What’s It Like to BORROW Money with Prosper?" written by Tricia (who also writes her own blog titled Blogging Away Debt) describing her experiences as a borrower using to find other folks willing to lend her money. She describes her experience seeking to borrow $3,500. She posted a starting interest rate she was willing to pay of 12%. As it turns out, lenders competed for her business and she ended up getting an interest rate of 9.9% from a group of 13 Prosper lenders.

March 07, 2007

New Insights About

The Innovate blog written by two students at Stanford's business and design schools has posted a podcast interview of Chris Larsen, CEO of person-to-person lending company "In this podcast, Chris chats with Julio and Min Li about Prosper's innovative vision, its unique challenges as an eBay platform for money (check out Prosper's cool tools for academics and researchers for performing case studies on its model), and the fine balance between the countervailing forces of transparency and privacy in the world of Web 2.0."

February 27, 2007

Be Your Own Bank

Jessica Anderson writes for about being a person-to-person lender on - saying it "offers financial rewards with a dose of good karma."

February 12, 2007 Announces New Enhancements

Celebrating its one year anniversary, this morning announced a series of enhancements to its service including bringing customer service in-house in San Francisco (from offshore), enabling borrowers to gain credibility from personal endorsements by friends and family, and providing lends with six additional credit data fields from Experian to help evaluate a borrower's loan request.

February 07, 2007

Prospering Without A Bank Loan

Yesterday, Marketplace, a business news radio program from American Public Media, had a segment all about peer-to-peer lending - in particular about A transcript of the segment is available online along with the audio that you can listen to online. The segment is introduced with the comment: "banks, credit card companies and those payday loan centers make billions of dollars every year lending us money. But why should they get all the profit?"

January 27, 2007

Want to Loan Me Money?

Annys Shin writes for the Washington Post about person-to-person lending at "Instead of selling your money to a bank to see the bank sell that money to someone else at 19 percent, why can't I have some of that money?" chief executive Chris Larsen said.

January 20, 2007

Make the Most of Your Credit Card

ABC News has a feature story this morning for consumer's about how to make the most of credit cards based upon an interview on Good Morning America with Ron Lieber, staff reporter for The Wall Street Journal. Lieber recommends borrowing first from family members and never, if you can avoid it, from credit card companies. In between he suggests considering, the person-to-person lending company.

January 02, 2007

An Update And Comment On Prosper's 2006 Results

Jim Bruene writes on the Financial Marketing Weekly blog about the 2006 results for - suggesting that's revenues for 2006 were in the range of $300,000 - based upon a 1 per cent origination fee charged on almost $30 million of loans originated. Obviously, they'll need to grow that revenue number by a couple of orders of magnitude for this person-to-person lending business to be considered economically viable.

July 29, 2006

A Look At Personal Lending On

Kara McGuire writes for the Minneapolis-St. Paul Star Tribune about personal lending on "In a recent report, Online Banking Report founder Jim Bruene predicted that, within five years, there could be as many as 100,000 person-to-person loans in the United States per year, worth more than $1 billion."

May 23, 2006

The Virtual Moneylender

In an article titled 'The Virtual Moneylender", Farhad Manjoo writes for about, "a new Web site allows you to borrow money from strangers in cyberspace. It may even free you from credit card debt and the usurers at the local payday loan center."

May 21, 2006

Lenders, Borrowers Hook Up Over the Web

Jane Boon Pearlstine writes for the Wall St. Journal about some of her first hand experiences lending online on where she's made "more than 300 small loans at an average rate of about 21%."


March 28, 2006

Online Banking Report Studies Person-to-Person Lending

In a comprehensive report that, in our opinion, is a "must read" for senior bankers interested in important emerging competitive trends, the latest issue of the Online Banking Report examines in detail the person-to-person lending business being pursued by and Zopa.

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