ON THE WEB
- RBI publishes “Payment and Settlement Systems in India: Vision-2018” - Reserve Bank of India - "The Reserve Bank of India has today placed on its website the “Payment and Settlement Systems in India: Vision-2018”. The Vision-2018 aims at building best of class payment and settlement systems for a ‘less-cash’ India. The broad contours of Vision-2018 revolve around 5 Cs – coverage, convenience, confidence, convergence and cost. To achieve these, Vision-2018 will focus on four strategic initiatives such as responsive regulation, robust infrastructure, effective supervision and customer centricity."
- a16z Podcast: Fintech Revolution or Evolution? - A16Z - "The problem, observes Warzel — who is joined by a16z Partners Alex Rampell and Angela Strange in this episode of the a16z Podcast on all things fintech, payments, wallets, and more — is that the customers/consumers aren’t at the center of any of this."
- Circle takes $60M to grow its social payments biz globally, as it steps into China - TechCrunch - "The round is led by existing investor and Beijing based VC IDG Capital Partners, along with Breyer Capital, General Catalyst Partners and what it dubs “a powerful syndicate of major strategic partners” in China, including Baidu, CICC Alpha, China Everbright, Wanxiang and CreditEase."
- MasterCard plans to invest $800 m in India over the next 4 years - Hindu Business Line - "These investments will flow into processing, mobile technology and solutions and data analytics, said Porush Singh, Country Head for MasterCard in India."
- Colu Raises $9.6 Million to Promote Blockchain-Based Local Currencies - CoinDesk - "The Series A round, backed by Aleph, Spark Capital, Digital Currency Group and former Thomson Reuters CEO Tom Glocer, follows a $2.5m seed round in early 2015..."
- Toyota Financial Services Joins R3 Consortium - "Toyota Financial Services, the financial services subsidiary of the Toyota Motor Corporation, has joined banking consortium R3CEV, making it the first organization affiliated with a major automaker to take part in the cross-industry effort."
- Number of EMV Chip Payment Cards in Global Circulation Increases to 4.8 Billion" - EMVco - "Global technical body EMVCo today reports sustained growth in the worldwide adoption of EMV chip technology. Official figures of aggregated data show that by the end of 2015, the number of EMV payment cards in global circulation increased, year on year, by 1.4 billion to 4.8 billion."
ON THE WIRES
- Discover Introduces Discover Quick Chip to Optimize Checkout Experience - Provides Merchants Additional Flexibility in Managing Payment Transactions
- Walmart Introduces Walmart Pay in Virginia and the Carolinas - Adding these states to the list of Nebraska, Iowa, both Dakotas, Tennessee, Kentucky, Michigan, and Indiana announced June 22, Walmart deploys "Pay with any iOS or Android smartphone, any major payment type and at any checkout lane – all through the Walmart app."
- Prairie Cloudware’s Digital Payments Guardian Goes Live with Mobile Payments - "Digital Payments Guardian acts as a digital vault for financial institutions, providing customers with an easy way to use and manage their credit and debit card accounts in digital channels. The solution utilizes industry standard tokens provided by the card networks, replacing sensitive consumer information with unique tokens, and NFC tap and pay utilizing Android HCE at the point of sale, enabling payments to be performed easily, conveniently and with minimal risk."
- Mizuho Financial Group and IBM to Test Blockchain Technology for Settlements Using Virtual Currency - "Mizuho Financial Group has a history of adopting new technologies to continuously improve customer services," said Masahiko Katou, Senior Technical Officer, Mizuho Financial Group. "In an era of technology transformation, Mizuho is testing blockchain, Watson, and other technologies to deliver high quality and more efficient customer services."
- 93 Million Credit Card Holders Are Still Receiving Financial Statements through the Mail - "With fraud and ID theft rampant around the country, if you're only checking your credit card and bank statements once a month, you're not being diligent enough," Schulz said. "It's a good idea to check those accounts online at least once a week."
- NCR Launches Latest Version of Authentic for Transaction Processing - "Authentic is an intelligent transaction-processing platform designed for today’s fast-changing payments business, and the new release delivers more than 55 new features and improvements. It has become the next generation payments engine of choice for retail banks, card issuers, acquirers, payment service providers, ISOs and merchants around the world."
GLENBROOK PAYMENTS EDUCATION EVENTS
Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!
- Payments Boot Camp - Palo Alto - October 11-12
- Insight Workshop - Palo Alto - Data in Payments - October 13
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.
COMING UP IN ATLANTA ON FRIDAY, JULY 15
TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.
UPDATES FROM GLENBROOK
- We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Click here to learn more!
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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: email@example.com!