ON THE WEB
- A Way to Lock Lost Debit Cards, From a Big Bank - New York Times - "Once the card is locked, it cannot be used to make purchases or withdraw money from automatic teller machines until the user unlocks it."
- Blockstream Welcomes New Investors - Adds $55 Million in Series A - Blockstream Blog - As our investor and board member Reid Hoffman wrote back in 2014, before many execs first wrote "blockchain" on their whiteboards, "Bitcoin is a transformative addition to Internet communication protocols that will create new networks of trust, fuel massive economic ecosystems, and create enduring long-term value."
ON THE WIRES
- Visa Opens its Global Network with Launch of Visa Developer - “We are unbundling Visa’s full suite of products and services and giving developers open access to the underlying payment capabilities,” said Rajat Taneja, executive vice president of technology, Visa Inc. “We believe this will lead to the creation of entirely new commerce experiences with Visa technology integrated to enable greater security, scale and convenience when it comes time to pay. When you add the ability to distribute those new experiences across Visa’s global network, you can see why Visa Developer will become the preferred playground for developers everywhere.”
- PayPal Reveals Vision for the Future of Money - “We are in a period of transformation – how people shop; how merchants sell; how people interact with the financial system; the very nature of money itself is changing,” said Dan Schulman, President and CEO of PayPal. “New Money is a celebration about the ways technology can help expand and improve financial participation and financial health for billions of people worldwide. We want to reimagine money -- enabling new ways for people to securely and affordably manage, move and spend their money.”
- U.S. Bank is First to Offer MasterCard® Business Network for Small Business Owners - "U.S. Bank (NYSE: USB) is the first bank in the nation to offer its small business customers access to MasterCard’s Business Network in a fully customized, consolidated website that provides offers, advice and tools designed to help small businesses run efficiently and effectively."
- Fifth Third Bank Launches Express Banking to Serve the Unbanked and Underbanked - "Fifth Third created Express Banking for people who typically don't have bank accounts, but who use banks and non-bank alternatives such as check cashing centers to cash checks, make payments and get cashier's checks. Express Banking provides a way for people to manage their money with no monthly service charge or balance requirement. The service does not allow overdrafts, which protects customers from spending money they don’t have."
- Western Union and Viber to Provide Cross-Border Money Transfer Capabilities - “Our users are already using Viber to stay in touch with friends and families worldwide, so the ability to send money to loved ones through the app is a natural next step,” said Michael Shmilov, Chief Operating Officer, Viber. “Viber’s alliance with Western Union is our first step into this direction and it gives our users a new way to quickly and conveniently send money to friends and family.”
- Fifth Third Bank Introduces Touch ID for its Mobile Banking App - “Our customers’ digital expectations continue to evolve – and many of those expectations are being set by using non-bank apps such as shopping and games," said Chad Borton, executive vice president and head of the Consumer Bank for Fifth Third Bank. "Fifth Third is continuing to evolve its digital experiences to do the same, creating fast and simple banking.”
- Fit Pay Completes $3.1M Seed Funding Round - "We are pleased to support Fit Pay's vision for transforming wearables," explains Scott Marquardt, president, Giesecke & Devrient America, Inc. "The Fit Pay platform, in combination with G&D's capabilities in embedded secure operating systems, applications and credentials lifecycle management, brings a complete end-to-end portfolio to Fit Pay's prospective wearable device partners."
- Glenbrook’s Carol Coye Benson will be at the Mobile World Congress in Barcelona February 22-25. Let her know if you will be there!
- 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
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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!