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Stripe

Welcome to the News View for "Stripe".

Here, on these archive pages, you'll find all of the articles on Payments News for Stripe 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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June 08, 2016

Headline News from PaymentsNews.com - June 8, 2016

ON THE WEB

  • Stripe en France - "Today, we’re happy to remove the beta label and to make Stripe available to tout le monde in France."
  • Amazon Plans $3 Billion Investment in India - Wall St. Journal - "The announcement brings Amazon’s total planned investment in India to $5 billion, since it announced a $2 billion infusion in 2014."
  • CurrentC beta test ending on June 28; further efforts postponed - iMore.com - "CurrentC, the Apple Pay competitor put forth by the MCX consortium, will soon end its beta test. Accounts will be closed on June 28, and all upcoming releases of CurrentC will be postponed indefinitely."
  • Here is the future of Apple Pay - ComputerWorld - "Apple’s Apple Pay plans reach far beyond what we know today. Apple will expand in multiple directions as it attempts to boost adoption of its service."
  • The Indian start-up that may sideswipe Apple Pay - CNBC - "While most competitors (including Apple) operate on the consumer side, he said Ezetap is single-minded. "Our job is to help bring merchants into the mobile internet world." "

ON THE WIRES

  • Singapore Payments Companies Selected for Wells Fargo Startup Accelerator - "“Regularly collaborating with startups on a wide range of technologies through the Startup Accelerator helps Wells Fargo explore big ideas outside our walls and industry for our customers’ benefit,” says Steve Ellis, head of Wells Fargo’s Innovation Group, which serves as the catalyst for transformational change across Wells Fargo. “We’re excited to invest in Alpha Payments Cloud and Jewel Paymentech through our Startup Accelerator."
  • NRF Says Overturning Dodd-Frank Would Reinstitute Price Fixing by Card Companies - “Protecting bank profit margins at the expense of competition is not sound public policy and it will harm merchants and consumers. The financial services industry attempted to get Congress to reject transparency and competition in 2010 and again in 2011. Both efforts failed. On behalf of retailers and their customers, NRF will fight for free and open markets.”
  • More Americans Turning to Payroll Cards – Here’s Why - “Not only do employers save money by cutting the administrative costs associated with distributing paper checks, but employees also save time and money by promptly receiving their wages on pay day and avoiding check cashing fees."

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!

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.

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 06, 2016

Headline News from PaymentsNews.com - June 6, 2016

ON THE WEB

ON THE WIRES

PAYMENTS IN PORTLAND

  • Join us for the next Payments in Portland (Oregon) event being held on Tuesday, June 7th. Details here!

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!

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.

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 02, 2016

Headline News from PaymentsNews.com - May 2, 2016

ON THE WEB

  • Data Analytics, Lending, and the Next 100 Million Borrowers - PaymentsViews.com (George Peabody) - "This Payments on Fire podcast with Lenddo.com’ s founder Jeff Stewart takes a look at lending in developing countries, social and mobile data sources, and examines the algorithmic “black box” that is at the heart of the company’ s approach to making credit decisions in “thin file” markets."
  • Inside the Secret Meeting Where Wall Street Tested Digital Cash - Bloomberg - "The event -- announced in a statement this Monday -- marked a key moment in the evolution of blockchain, notable both for what was achieved, as well as how many firms were involved."
  • Circle Then and Now: Bitcoin’s Early Champions Challenge a Blockchain World - CoinDesk - "[Circle] was not positioned as a bitcoin thing, it was [about] making money work," Allaire said. "It was positioned as a way to move value around. We tried to define the product around instant money, and underneath it was bitcoin."
  • Australian Entrepreneur Says He Created Bitcoin, but Doubts Persist - New York Times - "Craig Steven Wright, a computer entrepreneur, told the BBC, The Economist and GQ that he was the currency’s founder. He said he had been forced to come forward because so many people were pursuing him."
  • 60 Minutes: Shaking Up the Financial Industry - CBS News - "Lesley Stahl meets some of the fintechies challenging the establishment, seeking to reinvent nearly every aspect of modern banking" - features Stripe
  • The Business Blockchain - AVC (Fred Wilson) - "If you think you might want to start a business based on blockchain technology or if you think blockchain technology is going to reshape a market you are working in, or if you just want to understand this thing that your son or daughter is obsessed about, then this is a great book to read." - see book on Amazon.com
  • Silicon Valley Looks at Something New: Starting a Bank - Wall St. Journal - "Warburg Pincus’s new bet on the future of banking borrows from the industry’s past. The New York firm is leading an investment round of more than $27 million in San Francisco-based Varo Money Inc...."
  • Tencent backs down in mobile payments war with Alibaba - FT.com - "The shift marks a partial de-escalation of its market-share battle with Alipay, the payment service run by Alibaba’s financial affiliate Ant Financial."
  • Paytm banks on Wipro to ensure it’s on right side of law - Economic Times - "Wipro will implement core-banking solutions for Paytm and also the programme to manage the integration of other key systems like anti-money laundering and regulatory reporting solutions."

ON THE WIRES

  • Chain and Global Financial Firms Unveil Open Standard for Blockchain - "Chain, Inc., a leading provider of blockchain technology, today announced the public release of Chain Open Standard 1 (Chain OS 1), an open source blockchain protocol developed over the last 18 months through a unique collaboration between the Silicon Valley company and global financial services firms."
  • Fortumo makes a push in Africa, launching payments in Cote d’Ivoire, Ethiopia & Senegal - "In Cote d’Ivoire, Ethiopia and Senegal the percentage of bank card owners is only 2%. At the same time, carrier billing is available to any prepaid or postpaid mobile account owner. This means merchants using carrier billing can reach a paying audience twenty times bigger than with traditional payment methods."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming up in May - both in Palo Alto, CA - 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.

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 26, 2016

Headline News from PaymentsNews.com - April 26, 2016

ON THE WEB

  • Alibaba Affiliate Ant Financial Raises $4.5 Billion in Largest Private Tech Funding Round - Wall St. Journal - "Ant Financial, which operates Alipay, China’s biggest online-payments platform by transaction volume, raised its latest funding round from a clutch of investors including a Chinese sovereign-wealth fund and the country’s biggest insurers..."
  • A look inside Stripe’s API platform - Medium (Gordon Wintry) - "For this edition, I spoke with Cristina Cordova from Stripe. She shared how the company approaches partnerships to help grow the platform."
  • W3C Publishes First Public Working Drafts of Payment Specifications - "The W3C Web Payments Working Group has published the first public drafts of payment specifications which include a Payment Request API, payment method identifiers, and basic card payment."
  • All About Fraud: How Crooks Get the CVV - Krebs on Security - "A longtime reader recently asked: “How do online fraudsters get the 3-digit card verification value (CVV or CVV2) code printed on the back of customer cards if merchants are forbidden from storing this information?"
  • Canadian Fintech comes to Menlo Park on May 9. They'll be pitching their ideas and participating in a discussion of the environment for Fintech here and in Canada. Sign up here with BayPay.

ON THE WIRES

  • Pitney Bowes Launches Cloud-Based Payments Engine for Shipping and eCommerce Platforms - "By leveraging the Pitney Bowes Bank, an FDIC insured institution charted in Utah, the company is able to provide uniform payments products, lending terms and interest rates in the U.S."
  • International Telecommunication Union to discuss deliverables for future digital financial services roadmap - Speaking ahead of the event, Sacha Polverini, Chairman of the Focus Group and Senior Programme Officer of the Bill & Melinda Gates Foundation’s Financial Services for the Poor (FSP) programme said: “The work we are doing is incredibly important. It is the first time ITU has partnered with international organizations like the World Bank, CGAP (Consultative Group to Assist the Poor), GSMA (Groupe Speciale Mobile Association), AFI (Alliance for Financial Inclusion) and others to initiate a forum like this.”
  • U.S. Bank Launches New Pilot App for Local Businesses in Lawrence, Kansas - "U.S. Bank has launched Deal Local, a new mobile app designed to help local businesses attract new customers and build loyalty with their existing customers through deals and rewards. Exclusive to Lawrence as a pilot, the app is live in the Apple and Google Play app stores and is already being used by Mass St. favorites Weaver’s, Milton’s Café and Hobbs, among others."
  • Global Payments Completes Merger with Heartland Payment Systems - “We are delighted to announce the completion of this landmark transaction,” said Jeffrey S. Sloan, Chief Executive Officer of Global Payments. “The transformative partnership with Heartland will further accelerate revenue growth, operating margin expansion and cash earnings per share growth and create the leading provider of integrated payments technology solutions worldwide.”
  • Remitly Secures $38.5 Million in Series C Funding - "Stripes Group led this round and was joined by Vulcan Capital, both new investors in Remitly. Existing Remitly investors also contributed to the round including DFJ, DN Capital, Bezos Expeditions and Trilogy Equity Partners, among others."
  • Rising payment fraud in UK overwhelming merchants with misunderstood chargebacks - "The figures from Financial Fraud Action UK reveal that financial fraud losses grew by 26% in 2015. The research further highlights the growth in payment card fraud, up 18% over the same period to £567.5m and the value of card-not-present (CNP) fraud, including ecommerce, which was up 20% to £398.2m."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming up in May - both in Palo Alto, CA - 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.

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 07, 2016

Headline News from PaymentsNews.com - April 7, 2016

ON THE WEB

ON THE WIRES

  • Nation’s Financial Institutions On Target To Offer Same Day ACH Payments In 2016 - “Financial institutions see the value in providing new, faster payment options to their customers with certainty and surety, and Same Day ACH allows them to do that in 2016,” said Janet O. Estep, president and CEO of NACHA. “These findings support our earlier research that Same Day ACH volume will come from use cases like payroll and B2B payments.”
  • With PayNearMe and OfficialPayments.com, Federal Tax Payments Are Now Payable Using Cash at 7,000 7-Eleven Stores - "Government agencies and payment processors use PayNearMe to collect cash payments for everything from utilities to bike share membership," said Danny Shader, founder and CEO of PayNearMe. "Customers appreciate when the organizations care enough to offer them payment options at convenient locations and the organizations are happy to automate traditionally time-consuming payment processes to enable payments 24 hours a day."
  • Adyen launches RevenueAccelerate - Pieter van der Does, CEO & Founder of Adyen, explained, “Ecommerce businesses need to challenge their payments provider to not only process payments but actually drive growth. We are able to offer RevenueAccelerate because we have something that no other payments solution has – a completely new infrastructure that utilizes all the rich data needed to optimize payments success.”

GLENBROOK PAYMENTS EDUCATION EVENTS

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.

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 06, 2016

Headline News from PaymentsNews.com - April 6, 2016

ON THE WEB

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

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.

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!

March 31, 2016

Headline News from PaymentsNews.com - March 31, 2016

ON THE WEB

  • Inside the $5 Billion Company That Will Launch Your Business - Inc. (Maria Aspan) - "Since 2010, Collison and his older brother, Stripe co-founder and CEO Patrick Collison, have spent almost every waking moment making it as fast and easy as possible to handle other people's money online."
  • What Starbucks Can Teach Apple and Facebook - Bloomberg Gadfly - "Getting one out of every five orders through its smartphone app is an impressive feat for Starbucks, considering mobile payments accounted for just 2.1 percent of U.S. retail sales last year..."
  • Introducing Braintree Auth - Braintree Blog - "Braintree Auth enables Braintree merchants to more easily integrate with Braintree partners by authorizing them to perform services on their behalf such as -- allowing for actions such as enabling payments on an e-commerce store or accessing transaction data for an analytics or accounting service."
  • Google Wallet is shutting down its debit card - Quartz (Ian Kar) - "Amid a companywide effort to cull money-losing operations, Google is shutting down its Google Wallet debit card, the company confirmed in a blog post today."
  • Immediate Funds Availability Resonates With Many Small Businesses - "Financial institutions that provide immediate funds availability stand to benefit in several key ways, including improved share of wallet and differentiation for small business customers."
  • Marijuana Companies Stuck Doing Business the Old-Fashioned Way, in Cash - Wall St. Journal - "Two years after Colorado fully legalized the sale of marijuana, most banks here still don’t offer services to the businesses involved."

ON THE WIRES

  • Walmart’s Family of Cards Makes it as Easy as 3-2-1 to Manage Finances for Less - “The Walmart MoneyCard and Walmart Credit Card have proven to be valuable tools in our customers’ wallets, helping them manage their money for less. The new 3-2-1 Save program simplifies and strengthens the card proposition for more than 10 million cardholders and helps add even more value to their Walmart purchases no matter how they choose to shop with us.”
  • More Than 100 Amazon Dash Buttons Now Available, Giving Prime Members the Easiest Way to Order Thousands of Products - "Members can now choose from over 100 Dash Buttons representing top-name brands across dozens of retail categories and thousands of products. With Dash Buttons, Prime members never have to worry about running out of everyday household essentials from coffee to condoms, and snacks to soda. When a customer sees supplies running low, they simply press a Dash Button to order."
  • American Express Launches Two New Co-Branded Cards with Charles Schwab - "Designed to meet the different needs of a diverse customer base, the cards include a credit card and a premium charge card, both with exceptional rewards, benefits and services, including unlimited cash-back features."
  • Bank of America Makes Online Payments Seamless With Visa Checkout - "Bank of America announced today that it will pre-select customers’ eligible Visa cards for enrollment in Visa Checkout directly from Online Banking. Bank of America is one of the first banks to integrate its cards into Visa Checkout and provide seamless enrollment directly from its site, eliminating added steps and making it easier than ever for customers to shop online, on any device."
  • CARE Makes Donating More Convenient with Popmoney - "Accepting donations via Popmoney will allow us to connect with more potential donors through the giving channels they prefer," said Tolli Love, vice president of fundraising and marketing, CARE USA. "We will also be able to reduce the costs associated with processing donations, which means more money will go to fight the impact of poverty around the world."
  • U.S. Bank Offers Customers Touch ID for More Convenient Mobile Banking - “We have been looking at ways to use biometrics such as voice and fingerprint to authenticate identification for several years,” said Gareth Gaston, executive vice president and head of omnichannel banking at U.S. Bank.
  • Microsoft outlines intelligence vision and announces new innovations for Windows 10 - "Wednesday, Microsoft announced new additions to the Cortana Intelligence Suite, both in preview. The first, Microsoft Cognitive Services, is a collection of intelligence APIs that allows systems to see, hear, speak, understand and interpret our needs using natural methods of communication. The second, the Microsoft Bot Framework, can be used by developers — programming in any language — to build intelligent bots that enable customers to chat using natural language..."
  • GE Capital Files Request for Rescission of Status as a Systemically Important Financial Institution - "The filing demonstrates that GE Capital has substantially reduced its risk profile and is significantly less interconnected to the financial system, and therefore does not pose any conceivable threat to U.S. financial stability."

GLENBROOK PAYMENTS EDUCATION EVENTS

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.

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!

March 21, 2016

Headline News from PaymentsNews.com - March 21, 2016

ON THE WEB

  • PayPal Brings Money Transfers to Cuba - Fortune - "PayPal CEO Dan Schulman, who is visiting Cuba this week along with President Obama, U.S. Secretary of Commerce Penny Pritzker, and many other CEOs, said that PayPal would start allowing money transfers to and from Cuba later this year."
  • Powa: The start-up that fell to earth - BBC - "Its demise has raised questions about the health of London's much vaunted fintech (financial technology) sector, and about the wisdom of sky-high valuations for unproven businesses."

ON THE WIRES

  • Wells Fargo Introduces Go FarTM Rewards - "Through the program, customers can redeem their rewards at any Wells Fargo ATM, use rewards toward their qualifying Wells Fargo checking or savings account or apply toward the principal balance of a qualifying Wells Fargo line or loan. Customers can also take advantage of options to pool rewards with other customers, gift rewards to other customers or to charity, create wish lists and more – all while on-the-go."
  • Federal Agencies Release Guidance to Issuing Banks on Applying Customer Identification Program Requirements to Holders of Prepaid Cards - "The guidance clarifies that a bank's CIP should apply to the holders of certain prepaid cards issued by the institution as well as holders of such prepaid cards purchased under arrangements with third-party program managers that sell, distribute, promote, or market the prepaid cards on the bank's behalf."
  • Stripe to allow Cuban nationals to set up a U.S. business entity, bank account, and more - “Today's announcement and our work with President Obama here in Havana are about facilitating a smooth path for Cuban entrepreneurs into the modern global economy," said Patrick Collison, CEO of Stripe. "The promise of the internet is that geography should be largely irrelevant. But that is not yet true. Especially here in Cuba, people simply do not have access to the high-quality banking or payments infrastructure they need to join the internet economy."
  • Ripple Continues Global Growth With New London Office to Serve European Bank Demand - "With the opening of the London office, Managing Director Daniel Aranda is relocating from Ripple’s San Francisco headquarters to lead the company’s European presence. Aranda was among Ripple’s first employees and has served as a key member of the company’s business development team since 2013, helping shape the overall company strategy and build the customer pipeline."
  • Western Union Expands in Cuba: Connects the World - “As the first U.S. Company with scale to move money from across the world to Cuba, we welcome the regulatory and policy changes put in place by the U.S. government that allow us to offer these services,” said Odilon Almeida, President of the Americas and European Union.

GLENBROOK PAYMENTS EDUCATION EVENTS

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.

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!

February 24, 2016

Headline News from PaymentsNews.com - February 24, 2016

ON THE WEB

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

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.

EVENTS

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 18, 2016

Headline News from PaymentsNews.com - January 18, 2016

ON THE WEB

  • Networks Put Their Money on Checkout for Mobile - PaymentsViews.com Podcast "These checkout assistants—you could even stretch the definition a bit and think of them as wallets—use the payment tokenization specification from EMVCo. But as products from competitive networks, each has unique attributes, never mind its own APIs specification. Glenbrook’s Russ Jones takes us for a pretty deep dive into how these tools work. And the benefits they provide to merchants especially in mobile commerce."(Russ Jones/George Peabody) -
  • Is Bitcoin Breaking Up? - Wall St. Journal - "This isn’t the first time somebody has written bitcoin’s obituary. What is different is this obit was being written by a prominent insider, and it hit a raw nerve in the community. "
  • The Bitcoin experiment is NOT over - Medium (Ron Gross) - "What’s nice about Bitcoin, as opposed to say the banking industry, is that wars escalate to be open, rather than fought behind closed doors. We air our dirty laundry out in the open."
  • Restructuring the Financial Infrastructure, Patrick Collison, CEO Stripe - Medium (Robert Siegel) - "As engineers compare notes on the ease-of-use and speed with which they are enabling revenue systems for their companies, a virtuous circle is reinforced where not only is there an increased velocity in which companies deploy systems such as Stripe, but also there is an unleashing of creativity around all aspects of the shopping and purchasing experience."
  • Android Pay Rewards “Tap 10” Could Land You a Free Chromecast, Songs on Google Play Music - DroidLife - "The promo is called “Tap 10” and involves paying for items with Android Pay, hence the “Tap” portion of the name. The idea is pretty simple – the more you tap and pay, the more free stuff you get."

ON THE WIRES

  • Federal Reserve Selects IBM to Modernize its Retail Payments Processing Platform - “By modernizing our payments systems, we will be well positioned to converge our existing retail payment operations and payment infrastructure onto a unified platform,” said Brian Egan, Senior Vice President, of the Retail Payments Office of the Federal Reserve Bank of Atlanta. “This will enable us to process payments more cost effectively and position us to more quickly adapt to changes in the ACH and electronic check payments environment. Both of these outcomes are consistent with our strategies to continue to provide financial institutions with high quality and cost effective ACH and electronic check clearing services”.
  • CFDFE, CFPA and Visa Partner to Promote Innovative Financial Inclusion Activities and Support Poverty Alleviation in China - "Visa today announced it will partner with the China Foundation for Development of Financial Education (CFDFE) to build a "China Financial Inclusion and Education (Jinhui Project) International Demonstration Zone" in the Great Xing'an Mountain Poverty Alleviation Area. Also, in a strategic partnership, Visa and the China Foundation for Poverty Alleviation (CFPA) will conduct a mobile-phone based financial education pilot program in the Inner Mongolia Autonomous Region and explore a new mode of targeted poverty alleviation."
  • Wirecard to Become Strategic Development Partner of Visa Europe Collab / Cooperation to Serve the FinTech Space - "As a strategic development partner of Visa Europe Collab, Wirecard will provide its technology and banking solutions as well as its in-depth market expertise. The aim of this close collaboration is to jointly offer FinTech start-ups and technology entrepreneurs the insight, partner networks and essential tools like platforms and interfaces to develop services are set to revolutionise the payment experience."
  • AJB Announces New U.S. EMV Host Certifications with First Data and Elavon - "AJB has completed host certifications with American Express, ChasePaymentech (Tampa), Elavon (Fusebox), First Data (Buypass, Nashville, North and Rapid Connect) and Vantiv (ISO & 610)."

EVENTS

  • Payments in Portland (OR) - Join us Thursday, January 28th from 5:30-7:30 PM to hang out with your colleagues and competitors to discuss all things payments! We'll have appetizers, Oregon beer and wine. For the first time, Payments in Portland is including a short topical briefing - this month on "B2B Payments - Promise and Problems." If you have a Portland payments presence and something to say on B2B payments, let us know! RSVP HERE!
  • Real Time Payments in the US: Implications for the Payment Industry - Atlanta, GA - February 10, 2016. Glenbrook's Elizabeth McQuerry will be moderating this discussion on what "faster payments" really means, how it's been implemented in other countries, and how it may shape banking and how we pay.

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, 2016

Headline News from PaymentsNews.com - January 12, 2016

ON THE WEB

ON THE WIRES

  • Wells Fargo Launches Third Propel American Express Card - “In 2014, we launched our first two Propel American Express Cards as part of our goal to earn more of our customers’ business,” said Beverly Anderson, head of Consumer Financial Services for Wells Fargo. “Since then, we have heard from our customers that they like the Propel 365 Card and Propel World Card but wanted us to find a way to offer a card with similar features without paying an annual fee – so that’s what we did.”
  • More Leading Merchants Choose Visa Checkout to Increase Online and Mobile Sales - "Starbucks, Walgreens, NFL Shop, HSN and Match are among the new merchants taking advantage of Visa Checkout’s ability to deliver seamless digital payments. Walmart.com will also begin supporting Visa Checkout this year."
  • Introducing Uber Trip Experiences - "During the holidays, we completed our billionth trip. Added together that’s a lot of time riders spend in an Uber. Which got us thinking … what if developers could also offer users of their apps new ways to enjoy themselves — or get stuff done — while they’re on the road?"
  • FreedomPay Expands Global Products and Services on Microsoft Azure - "With this collaboration, FreedomPay offers end-to-end protection for credit card payments made through FreedomPay’s Commerce Platform, which is supported by Azure. The FreedomPay Commerce Platform is the world’s first PCI-Validated P2PE payments solution with EMV, NFC, DCC and real-time data capabilities that can deliver on a global scale."
  • Remitly Approaches $1 Billion in Annualized Mobile Money Transfers as Company Continues Rapid Growth - "Remitly offers money transfers from the United States to the Philippines, India and Mexico, which alone account for more than 35 percent of all remittances originating in the United States. The company will continue to take a customer-focused approach by focusing on the largest markets as it expands globally."
  • Network International to launch cashless, cardless and mobile-free payment solution - "The next generation solution, led by Dubai Smart Government (DSG) and developed by Quisk, will be deployed by Network International across its points of sale (POS) merchant network in the United Arab Emirates in 2016, enabling people to conduct payment transactions without the use of cash, cards or their mobile phones."

EVENTS

  • Payments in Portland (OR) - Join us Thursday, January 28th from 5:30-7:30 PM to hang out with your colleagues and competitors to discuss all things payments! We'll have appetizers, Oregon beer and wine. For the first time, Payments in Portland is including a short topical briefing - this month on "B2B Payments - Promise and Problems." If you have a Portland payments presence and something to say on B2B payments, let us know! RSVP HERE!

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 04, 2016

Headline News from PaymentsNews.com - January 4, 2016

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!

November 05, 2015

Headline News from PaymentsNews.com - November 5, 2015

On the Web

  • Distribution v Innovation - Alex Rampell - "This is the flaw with looking at Square and Stripe and calling them commodity players. They have the distribution. They have the engineering talent. They can build their own TiVo."
  • Jamie Dimon: Bitcoin Will Not Survive - CoinDesk - "This is my personal opinion, there will be no real, non-controlled currency in the world. There is no government that's going to put up with it for long ... there will be no currency that gets around government controls."
  • Uber is trying to lure new drivers by offering bank accounts - Quartz - "The plan, which is in its early stages, would allow drivers to easily register for a bank account or prepaid card when signing up to work for Uber..."

On the Wires

  • Walgreens First to Launch Loyalty Program Integration with Apple Pay - "Walgreens Balance® Rewards members can now seamlessly use their account through Apple Pay - without separately scanning a Balance Rewards card or barcode. More than 85 million active Balance Rewards members will have the ability to earn and redeem loyalty points via Apple Pay, the easy, secure and private way to pay."
  • ACI Worldwide Acquires Leading Global eCommerce Payments Solutions Provider, PAY.ON - "Based in Munich, Germany, PAY.ON delivers a white label global payment gateway solution to payment services providers (PSPs) and acquirers globally. PAY.ON’s solution features connectivity to more than 300 alternative payment methods and card acquirers in more than 160 countries."
  • Payoneer Selected by Amazon to Expand Cross-Border Payment Options in Select Countries - "In cooperation with Payoneer, Amazon now allows sellers to sign up for Payoneer directly from Amazon Seller Central. Upon Payoneer registration, sellers receive online accounts that can collect Amazon disbursements, and that provide access to these disbursements through local bank account withdrawal or through the use of a Payoneer MasterCard®. This alliance marks the first time that Amazon has expanded Seller Central cross-border payment capabilities through alliance with an external payment solution."
  • Federal Reserve Announces Sixth Triennial Study to Examine U.S. Payments Usage - "The 2016 Federal Reserve Payments Study consists of three complimentary survey efforts commissioned to estimate the number, dollar value and composition of retail noncash payments in the United States for calendar year 2015. The study will request full-year 2015 payments data for various payment types from respondents to two of the three survey components; the third component involves a random sampling of checks processed in 2015 to determine distribution of party, counterparty and purpose. Results from all three survey components will be used to estimate current trends in the use of payment instruments by U.S. consumers and businesses."
  • Wells Fargo Spurs Innovation with New Startup Accelerator Class - “Our Startup Accelerator expands our vision of the future of financial services beyond the boundaries of Wells Fargo and banking, introducing us to innovators who want to shape how our customers handle their financial needs in the future,” said Steve Ellis, head of Wells Fargo’s Innovation Group. "Our business and technology leaders work closely with accelerator members to test concepts, validate technologies, identify market opportunities, and guide them through the process of bringing their ideas to market.”
  • U.S. Bank FlexPerks Visa Customers Can Now Instantly Redeem Reward Points to Pay for Purchases - "Customers simply activate Real-Time Rewards, make a purchase with their FlexPerks Visa card, and respond to a text message to accept or decline a redemption offer. Accepted offers trigger a credit to the customer’s billing statement for the purchase amount and a deduction of FlexPoints from the customer’s point balance."

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: gotnews@paymentsnews.com!

October 09, 2015

Headline News from PaymentsNews.com - October 9, 2015

What I'm Reading...

  • This weekend your editor will be reading former Federal Reserve Chairman Ben Bernanke's new book about the financial crisis: The Courage to Act: A Memoir of a Crisis and Its Aftermath. From the description: "Rich with detail of the decision-making process in Washington and indelible portraits of the major players, The Courage to Act recounts and explains the worst financial crisis and economic slump in America since the Great Depression, providing an insider’s account of the policy response."
  • How about you? What are you reading? Drop me a quick note and tell me about it: editor@paymentsnews.com

On the Web

On the Wires

  • FBI Says Chip-Based Credit Cards Safer But Need PIN to Protect Against Fraud - "The National Retail Federation today said it agreed with a warning from the FBI that new chip-based credit cards are safer than traditional cards but still vulnerable to fraud and need to be used with a PIN instead of a signature to minimize risk."
  • Apple Pay Now Available on the Fly Delta App - "Our Fly Delta app has come a long way since it was first introduced in 2010. More than 18 million customers have now downloaded the Fly Delta app and we are excited to be the first U.S. based airline to allow our customers to book and pay for their tickets with Apple Pay. By providing a way to pay for flights with just the touch of a fingertip, Delta continues to optimize our robust mobile channels and provide an easy-to-use and seamless digital experience for our customers," said Rhonda Crawford, Vice President - eCommerce.

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: gotnews@paymentsnews.com!

September 14, 2015

Headline News from PaymentsNews.com - September 14, 2015

On the Web:

On the Wires:

  • Fiserv Successfully Pilots CardFree Cash at ATMs Via Accel Debit Payments Network - “Today’s consumers have come to expect immediate, easy and secure access to their money,” said Vincent Brennan, president, Card Services, Fiserv. “Card replacement can take time, and wire transfers can be expensive. Instant access to funds without a card helps financial institutions improve service and security.”
  • MUFG Union Bank Launches New Commercial Card Program for Corporate Clients - “We are pleased to offer our new Commercial Card Program to our corporate clients who are seeking the latest technology and services to meet their transaction banking needs and improve productivity,” said Managing Director Ray Fattell, Head of Product and Innovation at MUFG. “Our team employed a buyer-initiated payments approach in developing these products that distinguishes us in the marketplace."
  • Mozido and PayEase Launch TradeEase, Bring First Cross-Border O2O e-Commerce Payments to China and Russia - “The potential for economic development within China and Russia has never been more evident,” said Ron Hynes, executive vice president and head of global markets. “At Mozido, we’re proud to be establishing our foothold in these growing regions by enabling the first-ever cross-border O2O commerce between the countries.”

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: gotnews@paymentsnews.com!

August 19, 2015

Headline News from PaymentsNews.com - August 19, 2015

On the Web:

On the Wires:

  • New American Express Serve® Prepaid Debit Account Earns Rewards - "American Express announced Serve Cash Back, a new prepaid debit Account option that will earn Accountholders 1% cash back on purchases. Consumers who spend in line with the 2012 – 2013 U.S. Department of Labor national averages for gas, groceries, dining out, clothing, transportation and entertainment using the Serve Cash Back Card could potentially earn more than $400 annually when earning 1% cash back."
  • In-store Shopping Experience a Major Factor in Major Purchase Decisions, Synchrony Financial Study Finds - "Results show that shoppers enjoy the immediacy and interaction of in-store purchases. Shopping in-store allows them to take the product home on the same day, see and feel the product, and interact with a store associate. Some respondents noted they simply like to shop at the retailer."

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: gotnews@paymentsnews.com!

July 28, 2015

Visa Invests in Stripe - Will Partner to Expand Online Commerce Globally

Stripe Logo 140pxVisa Inc. has announced a strategic investment in Stripe as part of a new partnership with Stripe to support new technologies and online payment experiences for merchants, developers and consumers worldwide. As part of this relationship, "Stripe will accelerate its international expansion, particularly in emerging markets, accessing Visa’s global footprint through its acquiring and issuing partners."
Given the explosive growth of new commerce experiences enabled by a global developer community, Visa is expanding its strategic relationships across the payments ecosystem,” said Jim McCarthy, executive vice president, innovation and strategic partnerships, Visa. “We are very excited to work with Stripe and leverage our combined assets to broaden our offering to new types of merchants and developers globally.”
Visa also noted that "Stripe will also be one of the first beta partners to connect to Visa’s network capabilities via APIs and SDKs, offering their developer community access to payment and risk management services, Visa’s tokenization service and security technologies."

Headline News from PaymentsNews.com - July 28, 2015

On the Web:

  • Stripe, Digital Payments Start-Up, Raises New Funding and Partners With Visa - New York Times - "On Tuesday Stripe also announced a partnership with Visa, one of the world’s largest credit card companies, in which the two will work on ways to improve digital transactions. The companies said they expected to collaborate on initiatives like payments security, as well as software like website “buy buttons.”"
  • Lawyer Emails Put Visa, MasterCard Settlement at Risk - Wall St. Journal - "Lawyers representing roughly 100 big merchants, including Wal-Mart Stores Inc., Home Depot Inc., and 7-Eleven Inc., are expected on Tuesday to formally notify the card networks that they will seek to unravel the three-year-old pact..."
  • UK Interchange fee regulation: a consultation - HM Treasury - "This consultation invites views on the government’s proposed steps to meet the UK’s obligation to put in place an adequate and efficient regulatory regime to supervise compliance with the ‘Interchange Fee Regulation’ (IFR)."
  • UK: Rules proposed to tackle ‘unfair’ credit and debit card fees - FT.com - "A government consultation launched on Monday proposes rules to limit so-called interchange fees charged to a business when a customer pays using a card."
  • UK: Cap on card fees could lead to lower prices for consumers - Guardian - "In a consultation document, the Treasury said: “The government is clear that merchants are expected to pass these savings on to consumers in the form of lower prices.”
  • Wells Fargo Joins Other Banks in Testing Mobile Biometrics - "The bank’s mobile development efforts include testing an intelligent assistant, akin to Apple Inc.’s Siri, that enables consumers to conduct their banking by speaking commands into the phone, says Steve Ellis, head of Wells Fargo’s new Innovation Group."
  • The Truth About the Death of Cash - BBC - "Cash is essentially untraceable, it’s easy to carry, it’s widely accepted and it’s reliable. If the power goes out, or there’s a blip in the electronic systems that make the online commerce world go round, cash is there."
  • 8 Banking Giants Embracing Bitcoin and Blockchain Tech - CoinDesk - "While major institutions found that bitcoin was perhaps problematic as a currency, they seem to increasingly believe that the blockchain, the protocol that manages and facilitates the exchange of bitcoin, offers benefits over their closed database systems."

On the Wires:

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: gotnews@paymentsnews.com!

July 17, 2015

Headline News from PaymentsNews.com - July 17, 2015

On the Web:

  • CVS Probes Card Breach at Online Photo Unit - Krebs on Security - "Nationwide pharmacy chain CVS has taken down its online photo center CVSphoto.com, replacing it with a message warning that customer credit card data may have been compromised."
  • How to scale: Lessons from Stripe CEO, Patrick Collison - Khosla Ventures - "Stripe CEO, Patrick Collison, talks with Keith Rabois about culture and recruiting. Hear why Stripe tries to hire people who are intrinsically happy, why they’re willing to recruit people who are not initially enthusiastic about the company and what makes their onboarding process unique."

On the Wires:

  • Ethoca Secures USD $45 Million Growth Equity Investment Led by Spectrum Equity - “We are excited to have Spectrum Equity working alongside Ethoca to help accelerate the next phase of our global expansion and the delivery of new collaboration-based services to meet growing customer demand,” said Andre Edelbrock, CEO & Co-Founder of Ethoca. “Importantly, Spectrum supports our mission of reaching what we call ‘maximum acceptance’ – a place where good customers are never turned away and everyone benefits from the financial rewards that result when ecommerce can simply be about commerce.”
  • Coming Monday: PayPal Celebrates Listing Day in Times Square - "On July 20, 2015, PayPal Holdings, Inc. will celebrate its new status as an independent public company trading on the Nasdaq Stock Market under the ticker symbol “PYPL” in New York’s iconic Times Square."
  • Synchrony Financial Reports Second Quarter Net Earnings of $541 Million or $0.65 Per Diluted Share - “We continue to grow our industry-leading consumer finance business on several fronts. We have signed new partners across our platforms, extended key contracts, and made technology investments which are yielding innovative, value added services for our partners and customers. We also continued to deliver strong receivables, deposit, and revenue growth,” said Margaret Keane, President and Chief Executive Officer of Synchrony Financial.

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: gotnews@paymentsnews.com!

July 09, 2015

Headline News from PaymentsNews.com - July 9, 2015

On the Web:

On the Wires:

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: gotnews@paymentsnews.com!

June 10, 2015

Headline News from PaymentsNews.com - June 10, 2015

On the Web:

  • Fintech Party May Attract Crashers - Wall St. Journal - "When the Financial Stability Oversight Council released its 2015 annual report last month, among the emerging threats to financial stability it called out was the migration of activities out of banking and into innovative new firms."
  • Breach at Winery Card Processor Missing Link - Krebs on Security - "Today, the company responded that it had begun notifying its customers about the incident, and that it was working with law enforcement and the card associations on an investigation."
  • Stripe Now Has An iPhone App For Monitoring Payment Activity - TechCrunch - "The new iPhone app does basically everything its existing online dashboard does, but brings it to an interface more suited for a mobile device. Businesses can also set up notifications for whenever a payment or purchase is made or set up a daily summary."
  • Retailers can bypass £20 limit for Apple Pay transactions in the UK - iMore.com - "With Apple Pay coming to the U.K. in July, payment processing services are considering removing the £20 limit on contactless payments in the country."
  • Millions of Barclays customers will NOT be able to use Apple Pay - Express - "Barclays has its own mobile payment service - Pingit - and has therefore declined to partner with Apple. It means that the bank's 12 million current account customers will not be able to sync their account with Apple Pay to use the service."

On the Wires:

  • Verifone Supports Launch of New Store Rewards Offering within Apple Pay - “Adding loyalty to Apple Pay will open a world of opportunity for a wide range of merchants to engage consumers and grow their businesses,” said Vin D’Agostino, executive vice president of Commerce Enablement, Verifone. “We are proud to support Apple Pay in expanding contactless payments to include loyalty."
  • Global Payments Names Frank T. Young Senior Vice President of Global Product and Innovation - "Young comes to Global Payments having spent his professional career focused on the intersection of innovation, technology and commerce, most recently with Google where he led strategy and partnerships supporting in-store, online and person-to-person payments. Prior to joining Google, he held senior roles at Firethorn, now a division of Qualcomm, MasterCard Advisors and Accenture."

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: gotnews@paymentsnews.com!

June 02, 2015

Headline News from PaymentsNews.com - June 2, 2015

On the Web:

  • Sympathy for the Biller – the Unsung Masters of Payments Complexity - PaymentsViews.com (Erin McCune) - "As billers expand their payment acceptance offerings to include in-person transactions, mobile payments, as well as one time and recurring payments online, the back office effort to accurately apply payments to consumer accounts and reconcile incoming bank deposits will demand more time, IT resources, and payments expertise. Billers are increasingly seeking solutions that minimize this data-handling overhead."
  • Pinterest Is Announcing Buyable Pins And A Partnership With Stripe - ReadWrite - "Pinterest is announcing a product called Buyable Pins, which builds on Pinterest's existing Rich Pin features."
  • Biggest MasterCard Issuers Scuttled Deal on Target Data Breach - Wall St. Journal - "The three banks decided to quash the pact that was negotiated on the industry’s behalf by MasterCard because they thought it was too small to cover their losses in the incident, the people said."

On the Wires:

  • International Payments Framework Association appoints new CEO and launches Instant Payments Initiative - "Elizabeth McQuerry, a partner in the US payments consulting firm Glenbrook Partners and a former IPFA member representative of the Federal Reserve's Retail Payments Office, has been appointed as the new CEO of the association. She will take up this position with immediate effect. She takes over from Arthur Cousins who had shepherded the group since its founding in February 2010."
  • Intel Joins FIDO Alliance and Board of Directors to Support Advancement of Online Strong Authentication and Move Beyond Passwords - "As our digital lives become increasingly personal and connected, maintaining secure, reliable authentication across multiple devices and access points is becoming completely unwieldy. We are excited to collaborate with other industry leaders in the FIDO Alliance to develop simpler and more secure solutions to authenticate users and to eliminate the need for passwords over time," said Mark Hocking, vice president and general manager of Safe Identity at Intel Security.
  • Live Gamer Re-Launches as Emergent Payments - "There is a significant opportunity for digital businesses in emerging markets -- which closely mirrors the success of the digital gaming industry in being able to monetize on a global basis," said Andrew Schneider, Co-Founder and President, Emergent Payments. "Seizing this opportunity, however, is often more complicated than it seems..."
  • Oink Introduces Mobile Peer-to-Peer Payments - “The mobile peer-to-peer market is expected to reach $86Bn in the US as it solves a real pain point for consumers,” said Dr. Jo Webber, CEO and founder of Oink. “The 11 to 21 year-old audience needed a more modern banking solution, with real-time access and control, and we have delivered it.”
  • Intuit: Chip Cards Coming: How Small Businesses Can Prepare - “The biggest barriers for small businesses to become EMV-compliant are cost and lack of time or resources required to research terminals,” said Eric Dunn, Intuit's senior vice president for payments and commerce solutions. “We want them to know we’re beside them on this journey to a more secure payments infrastructure, and are providing an affordable solution as well as equipping them with resources to ease any burdens.”

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: gotnews@paymentsnews.com!

May 20, 2015

Headline News from PaymentsNews.com - May 21, 2015

On the Web:

  • PayPal is Forever Changing Commerce, Everywhere - PayPal Stories - "Today, at an event in San Francisco, we announced new relationships, product experiences and strategies to be able to deliver faster, safer and more elegant buying experiences as we prepare to become an independent, public company under the ticker PYPL."
  • Stripe to Land $5 Billion Valuation in New Investment - Re/code.net - "Stripe, the online payments company, is in talks to raise new investment dollars at around a $5 billion valuation, according to multiple sources familiar with the deal. The exact amount of the investment could not be learned."

On the Wires:

  • Bigcommerce and PayPal Collaborate to Introduce Seamless Payment Processing for Small and Mid-sized Retailers - “PayPal takes a partner-based approach to payments to help merchants and consumers connect more easily,” said Bill Ready, SVP of Global Merchant and NextGen Commerce at PayPal. “We’re excited to team-up with Bigcommerce to offer an end-to-end ecommerce solution that makes it easier than ever for their merchants to launch and grow their businesses. Together, we are giving merchants everything they need to open an online store in just minutes rather than weeks -- all bundled into a single integration.”

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: gotnews@paymentsnews.com!

February 20, 2015

Headline News from PaymentsNews.com - February 20, 2015

Glenbrook Meetup in Chicago - Wednesday, Feb 25

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!

February 19, 2015

Headline News from PaymentsNews.com - February 19, 2015

Glenbrook Meetup in Chicago - Wednesday, Feb 25

On the Web:

  • American Express Loses Antitrust Suit Over Merchant Rules - Bloomberg - "AmEx failed to show that its so-called non-discrimination provisions, imposed on merchants who agree to accept its card, don’t harm competition, U.S. District Judge Nicholas Garaufis in Brooklyn said in his ruling Thursday."
  • Visa Reaches Deal with Russia Over Payment System - Wall St. Journal - "Visa Inc. will transfer the processing of transactions made on its cards in Russia to a local payment system, Russia’s central bank and the company said Thursday."
  • Why Slow Electronic Payments Can Cause Cash Flow Problems - NPR Morning Edition - "In a recent speech to bankers, Richard Cordray, who heads the Consumer Financial Protection Bureau, said roughly half of all bank fees could be attributed to a slow payment system."
  • NPCI launches Unified Payments Interface - Livemint - "Any kind of payment, including for shopping and paying taxi fares, can be done using an application downloaded on a smartphone once all banks adopt the system. The pilot project will be launched in about four-five months, managing director and chief executive officer A.P. Hota said."
  • Stanford DFJ Entrepreneurial Thought Leaders Series: Putting Startup Success in Perspective - John Collison (Stripe) - "John Collison, co-founder and president of the online payment system Stripe, explains how even the most celebrated startups repeatedly encountered uncertainty and failures along the way. In conversation with Stanford Professor of the Practice Tina Seelig, Collison shares his thoughts on how a venture's path can evolve after its early days, even as the vision holds constant."
  • Heartland’s Decision to Wind Down Leaf Throws Spotlight on Tablet Software - Digital Transactions - "Meanwhile, some observers say the decision to wind down Leaf could be an early indicator that the 5-year-old tablet point-of-sale market is undergoing a shakeout."
  • American Express Will Debut ‘Inspiring’ Celebrity Ads at Oscars - Wall St. Journal - "The credit card giant will debut four 30-second heart-felt ads, created by WPP-owned Ogilvy & Mather, that feature noteworthy people who have beaten the odds and happen to use American Express."
  • Dell Expands Bitcoin Payments to UK and Canada - CoinDesk - "In remarks, Walsh suggested that the decision was prompted by customer demand and the positive feedback the company had so far received for its US offering."
  • Transit Mobile Payments: Driving Consumer Experience and Adoption - Federal Reserve Bank of Boston - "The author conducted interviews with 16 executives representing transit agencies, transport system integrators and companies that provide digital security solutions, mobile ticketing platforms, and mobile marketing solutions, and conducted secondary industry research. The purpose of the research was to assess whether transit mobile payments can help drive adoption of mobile payments in the US..."
  • Lenovo accused of compromising user security by installing adware on new PCs - Guardian - "It leaves any Lenovo user permanently open to a “man in the middle” attack any time they use a public Wi-Fi network, letting an eavesdropper read users’ web browsing at will."

On the Wires:

  • American Express Plans To Appeal Federal Court Ruling In Government Lawsuit - “American Express is disappointed in the court’s ruling, which we believe will harm competition to the detriment of consumers and merchants. American Express intends to appeal the court’s ruling at the appropriate time.”
  • US Treasury announces partnership with digital wallet providers PayPal, Dwolla for online payments - "The goal of these partnerships is to expand the options customers have for transactions with the Federal Government, providing customers greater choice and a better customer experience. For example, customers required to submit a court filing fee at a U.S. Court, or citizens who wish to make a donation to the National Endowment of the Arts, will have similar payment options currently available to them on popular private sector websites."
  • NPCI initiates an ecosystem for Unified Payments Interface - "National Payments Corporation of India (NPCI), the umbrella organization for all retail payment system in India, has taken up a new initiative of implementing “Unified Payment Interface” to simplify and provide a single interface across all systems. The new interface is designed to enable all account holders to send and receive money from their smartphones with a single identifier – Aadhaar number, mobile number, virtual payments address – without entering any bank account information."
  • Visa Extends Easy and Secure Online Payments to New Markets Through Roll-out of Visa Checkout - "Today consumers from ten countries can sign up for Visa Checkout at www.visacheckout.com and start using the service. In the coming months, Visa will extend the service into new regions, so that by the end of 2015 Visa Checkout will be available in the following 16 markets: the U.S., Australia, and Canada ... as well as Argentina, Brazil, Chile, China, Colombia, Hong Kong, Peru, Malaysia, Mexico, New Zealand, Singapore, South Africa and United Arab Emirates."
  • Branch Banking Remains Prevalent Despite the Growth of Online and Mobile Banking - "The study identifies four main factors that have influenced the number and distribution of banking offices over time: population growth, banking crises, legislative changes to branching laws, and technological innovation. In terms of technological change, there is little evidence that the emergence of new electronic channels for delivering banking services has substantially diminished the need for traditional branch offices where banking relationships are built."
  • FinTech Startup Azimo Shakes up Global Money Transfer Services to China - "The new service will provide Azimo’s potential 350 million European customers with the ability to send money direct to every personal bank account in China from just £/€1 for any amount sent."
  • FIS Demonstrates Caliber of Information Security with New ISO Certification - As FIS’ certification states with respect to meeting this standard: “The FIS ISMS supports the operations of strategic data centers by providing a secure and sustainable computing environment to support global financial institutions and commercial clients through the implementation of secure practices and work relationships with supporting functions.”

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 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 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 02, 2014

Headline News from PaymentsNews.com - December 2, 2014

On the Web:

On the Wires:

  • MasterCard Board of Directors Announces Increase in Quarterly Dividend and $3.75 Billion Class A Share Repurchase Program - “Today’s dividend and share repurchase program announcement comes as a result of our continued, strong financial performance,” said Ajay Banga, president and CEO, MasterCard. “We remain committed to delivering value to our shareholders, while investing in the growth of our business.”
  • SimplyTapp Raises $5.9M to Propel Mobile Payment Innovation - "SimplyTapp, the leading provider of Host Card Emulation (HCE) solutions for cloud based mobile payments, today announced it has raised $5.9M of a Series B financing round from undisclosed new investors and existing investors Blue Sky Capital and Lightspeed Venture Partners, bringing the total amount of funding raised to date to $7.6M."
  • CARDFREE Completes its Next Generation Order-Ahead Product - "This new patent license enables CARDFREE to provide its exceptional online/mobile ordering solutions within the US - for restaurants and other verticals. CARDFREE’s award-winning platform provides full commerce capabilities including cross-channel CRM, loyalty, payments and now its next generation order-ahead solution."
  • AribaPay Takes Off - “By automating billing and settlement and digitizing the “pay” in procure-to-pay, AribaPay is bringing the same simplicity to B2B payments and effectively changing the game by enabling companies to drive a more efficient, effective process that creates benefits on both sides of the equation.”

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!

November 25, 2014

Headline News from PaymentsNews.com - November 25, 2014

On the Web:

  • Wake Up, Brick-and-Mortar Retailers - Wall St. Journal - "If you were running a brick- and-mortar retailer and knew that 25 years from now a third of your sales would be online, you would run your business differently."
  • Introducing Twitter Offers - Twitter Advertising Blog - "Starting today (in the U.S. only), we’re beginning to test a new way for advertisers to connect with consumers on Twitter and convert them to loyal customers in their stores, on their websites and in their apps. This feature, Twitter Offers, enables advertisers to create card-linked promotions and share them directly with Twitter users."
  • Stripe on how Apple Touch ID is transforming point of sale - Wired Retail - "We're really excited about Apple Pay, says Stripe's Andy Young speaking on stage at WIRED Retail. But, he adds, "if we're thinking about the future and where we should go, suddenly it gets even bigger than Apple Pay itself."
  • First Data command center in Omaha has major role in war against cybercrooks - Omaha.com - "A team of about 100 employees works during daylight hours and another team of about 55 employees works the night shift, said Dawn Baxter, IT director at First Data."
  • What’s Unsettled in Faster Payments? - Portals and Rails Blog - "The UK has successfully offered real-time clearing and availability without real-time settlement. However, other countries have built real-time settlement into their new systems because it does indeed reduce systemic risk."
  • The promise of Bitcoin - VentureBeat (Melanie Shapiro) - "The same way that the Internet made information free for the world, Bitcoin makes fraudless transactions free for the world."
  • The Blockchain Application Stack - Joel Monego (Union Square Ventures) - "One thing I like about this stack is that it’s growing from the bottom up. First we had miners, the blockchain, and Bitcoin, and now we’re building everything else on top. As far as I know, the most significant revolutions in technology have been built this way."
  • The endangered SIM card - Economist - "Since re-programmable SIMs make it easier not just to sign up with a mobile operator but to switch away from one, the operators are wary of the innovation."

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!
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