On the Web
- Inside the Digital Payments Workshop - Payments Views - Glenbrook's Russ Jones shares how the upcoming Payments Insights: Digital Payments Workshop was designed.
- Chip Credit Cards Give Retailers Another Grievance Against Banks - New York Times - "Retailers complain that they have spent billions of dollars upgrading their payment terminals to accommodate a system that cuts down only on the fraud shouldered by banks, not merchants. Chip and PIN, long the standard in Europe, would help retailers verify not just the card, but the person using it."
- a16z Podcast: Blockchain vs./and Bitcoin - A16Z - "Clearly many large business players are paying attention and trying to get ahead of disruption, by asking themselves exactly what their bitcoin/blockchain strategy is. Adam Ludwin shares what’s happening here from his perspective as founder of Chain, an enterprise blockchain platform that partners with financial institutions to help them apply the technology to their markets."
- Apple Pay launches in Canada with American Express, available at merchants like Tim Hortons, Indigo - Financial Post - "The service in Canada will be limited to American Express cardholders, however co-branded AMEX credit cards — like one offered by Bank of Nova Scotia — are not included in the deal."
On the Wires
- Western Union Offers New Global Money Transfer Service on WeChat - “Given the proliferation of social media around the world, we are expanding our activities in this exciting area. It only makes sense to include the WeChat platform as part of the company’s innovative digital money transfer capabilities. By teaming with WeChat and deploying the WU Connect platform to its U.S. users, Western Union is offering yet another new method for consumers to move money worldwide."
- Global Payments Announces Support for Apple Pay in Canada - “Following successful enablement in the U.S. and the UK, Global Payments is pleased to be one of the first providers in Canada to offer merchants the exciting opportunity to accept Apple Pay,” said Frank T. Young, SVP, Global Product and Innovation.
- Chase teams up with 18 technology partners to help merchants accept Chase Pay - "These industry leaders will help merchants integrate Chase Pay into their overall payment acceptance strategy,” said Michael K. Passilla, CEO of Commerce Solutions, the global payment processor and merchant acquirer of JPMorgan Chase & Co. “Chase Pay solves a number of pain points for consumers and merchants to improve the customer experience and drive down the cost of payments.” - The technology partners announced include: 3Delta Systems, AJB Software, Aria Systems, Auric Systems, Authorize.Net, BridgePay, Bytemark, CardinalCommerce, FIS ClearCommerce, CyberSource, iBiz Software, LevelUp, Miva, P97, Recurly, USAePay, Vindicia and Xpress Bill Pay.
- PayPal 2nd Annual Global Report Shows More Than 1/3 of Chinese Online Shoppers Now Buying Cross-Border - "Amidst a year of market-moving news coming out of China, no shortage of attention has been paid to its growing consumer class’ buying power as more enter the global online ecommerce market. This year’s findings support the growth trend: 35 percent of online shoppers claim to have shopped cross-border in 2015, vs. 26 percent in 2014."
- Align Commerce Closes $12.5 Million Series A Round Led by Kleiner Perkins Caufield & Byers (KPCB) - "For far too long the cost and complications of existing payment systems have hindered startups and SMBs from fully capitalizing on global trade,” said Marwan Forzley, CEO of Align Commerce. “The Align Commerce platform cuts through time-consuming red tape and excessive fees that have unnecessarily burdened users. Existing systems have seen little innovation in the face of game-changing new technologies, and the entire experience is overdue for a radically different approach.”
- First Data and NCR Sign Strategic Commercial Agreement - "First Data will be a preferred provider of cybersecurity and payment processing solutions to NCR’s customers in the grocery, petroleum and convenience store industries. NCR will be a preferred provider of ATM hardware and services to First Data’s client base of more than 4,000 financial institutions. The two industry leaders will also pursue co-development of integrated commerce technology solutions for U.S. merchant clients."
- NFC Forum: U.S. Retailers May Not Be as Prepared for Retail Payments Migration as They Think - "The white paper describes ways for merchants to secure their businesses against fraud while accepting payment from customers in the way they prefer to pay. "
- Synchrony Financial Announces Completion of Separation from GE - “This is an historic day for Synchrony Financial,” stated Margaret Keane, president and CEO of Synchrony Financial. “Today we launch the next stage in our company’s future – pursuing a long-term strategy focused on Synchrony’s business objectives as a stand-alone company. I am very proud of our employees, who have prepared us for this day, while continuing to serve our partners and customers and to grow our business.”
Glenbrook's 2015 Payments Education
- Our next Payments Boot Camp session is scheduled for Palo Alto, California on December 1-2 followed by a one-day Insight Workshop on December 3 on the topic of Digital Payments. Registration for both sessions is open and available now.
- If you have questions about our payments education program, please contact Russ Jones for more information.
Updates from Glenbrook:
- Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews
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: firstname.lastname@example.org!