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Visa

Welcome to the News View for "Visa".

Here, on these archive pages, you'll find all of the articles on Payments News for Visa 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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February 12, 2016

Headline News from PaymentsNews.com - February 12, 2016

ON THE WEB

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Here's a quick reminder that we have two of our Glenbrook payments education events coming up later this month - both in Palo Alto, California - 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!

February 04, 2016

Headline News from PaymentsNews.com - February 4, 2016

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."

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 29, 2016

Headline News from PaymentsNews.com - January 29, 2016

ON THE WEB

  • PwC and Blockstream Announce Strategic Partnership - "For our clients, understanding new world applications of Bitcoin and blockchain technology, adapting it for myriad uses, and using it optimally are critical to improving financial security, efficiency and compliance," said Haskell S. Garfinkel, Partner, FinTech Co-Leader, PwC. "PwC is teaming with Blockstream to offer our joint knowledge and capabilities to clients – giving them one place to go, maximizing expertise, talent, and assets from both organizations."
  • Payment Processor to Stop Working With Daily Fantasy Sports Clients - New York Times - "Vantiv Entertainment Solutions, the processing company, told its daily fantasy clients, which include FanDuel and DraftKings, that it would “suspend all processing for payment transactions” related to daily fantasy sports in the United States and its territories on Feb. 29."
  • RTGS, and the story of batches instead of blocks - FT Alphaville - "Here begins a tale of how the Bank of England’s settlement system got broken without anyone really noticing…"
  • Facebook open to payments partnerships with Apple Pay, others - Apple Insider - "We'll partner with everyone who does payments," Zuckerberg said. "We look at the stuff that Apple is doing with Apple Pay, for example, as a really neat innovation in the space that takes a lot of friction out of transactions as well."

ON THE WIRES

  • Visa Launches Commerce Network to Drive Merchant Sales and Deliver New Cardholder Benefits - "Visa Commerce Network works by connecting transactions between two merchants. For example, a hotel can provide its customers with offers from local restaurants using Visa Commerce Network, and with cardholder consent, track engagement and even issue rewards. Qualifying purchases are recognized at the point of sale and rewards can be seamlessly applied to cardholder accounts – eliminating the need for coupons or redemption schemes."
  • MasterCard Incorporated Reports Fourth-Quarter and Full-Year 2015 Financial Results - “Despite a challenging economy, we were able to deliver solid results for the quarter and the full year in 2015,” said Ajay Banga, president and CEO, MasterCard. “Entering 2016, while uncertainty in the global economy persists, the fundamentals of our business and our approach remain unchanged. We continue to be laser focused on our strategy to lead payment innovation in an increasingly digital world with solutions such as MasterPass, while growing the use of electronic payments through our products, partnerships and increased acceptance at the point-of-sale.”
  • FTC Announces Significant Enhancements to IdentityTheft.gov - "For the first time, identity theft victims can now go online and get a free, personalized identity theft recovery plan as a result of significant enhancements to the Federal Trade Commission’s IdentityTheft.gov website."

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 28, 2016

Headline News from PaymentsNews.com - January 28, 2016

ON THE WEB

ON THE WIRES

  • Visa Inc. Reports Fiscal First Quarter 2016 Results - “We continue to be pleased with our financial performance given the uneven global economy and the ongoing negative effects of the strong U.S. dollar. While we continue to see relatively strong payments volume growth, these factors have meaningfully reduced our cross-border volume and revenue growth. While these headwinds do not appear to be abating in the short-term as we had hoped, the fundamentals of our business remain strong and our long-term growth trajectory remains intact as we navigate through this uncertain environment,” said Charlie Scharf, Chief Executive Officer of Visa Inc.
  • Credit Karma Now Serves 50 Million Members - "Credit Karma’s 50 million-strong member base accounts for 22 percent of all Americans with a credit profile in the United States, who use the platform to help them manage over $3 trillion in household debt. The company has given away more than one billion free credit scores since launching its product in March 2008, without charging members a penny to use its service."
  • Alliance Data Reports Full-Year 2015 Results - Ed Heffernan, president and chief executive officer of Alliance Data, commented, "It was an exceptional year for Alliance Data as we drove 20 percent growth in both revenue and core EPS despite substantial FX headwinds. Overall, the scorecard for all three segments is largely positive."
  • ID Experts Raises $5 Million in Financing from BlueCross BlueShield Venture Partners and Sandbox Advantage Fund - "We look at this investment as a strategic partnership with ID Experts," said Tom Hawes, M.D., Managing Director at Sandbox Industries who will join the Board of Directors at ID Experts. "ID Experts is poised for rapid growth with its data breach and identity protection solutions, especially in the healthcare space with its innovative MIDAS™ medical identity monitoring service."

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 27, 2016

Headline News from PaymentsNews.com - January 27, 2016

ON THE WEB

  • Now, pay in your favorite apps with Venmo - Venmo Blog - "When selecting a payment method within a merchant’s app (iOS-only to start), simply tap the Venmo button. Your Venmo account will be instantly connected to the app and you will be all set to pay -- without the hassle of re-entering your payment information."
  • New Boston Fed Research: Consumer Revolving Credit and Debt Over the Life Cycle and Business Cycle - Federal Reserve Bank of Boston - "This paper uses data from the Federal Reserve Bank of New York Consumer Credit Panel (CCP), which contains a 5 percent sample of every credit account in the United States from 1999 to 2014 from the credit reporting agency Equifax. It examines how changing credit availability, debt, and utilization over the business cycle and the life cycle and across individuals relate to U.S. consumers' patterns of incurring, carrying, and paying off their debts."
  • Wendy’s Probes Reports of Credit Card Breach - Krebs on Security - "Wendy’s, the nationwide chain of fast-food restaurants, says it is investigating claims of a possible credit card breach at some locations."
  • Chase to Roll Out Cardless ATMs - NBC 5 Chicago - "The new cash machines will allow customers to withdraw money by logging into their accounts through an app instead of using their ATM or debit cards."
  • Visa Europe Revenue Rises to Record Ahead of Sale to Parent - Bloomberg - “Financially, this was our most successful year ever -– and by quite some distance,” Nicolas Huss, chief executive officer of London-based Visa Europe, said Tuesday in a statement.
  • Vinny Lingham Leaves Gyft, Raises $2.75 Million for Identity Startup - CoinDesk - "The premise of the app, according to Lingham, is that customers will provide Civic with their Social Security number for safe storage in exchange for greater monitoring capabilities."

ON THE WIRES

  • PayPal Reports Strong Fourth Quarter and Full Year 2015 Results - “We exited 2015 with great momentum,” said Dan Schulman, President and CEO of PayPal. “Our strong results reflect PayPal’s progress in delivering on our strategy to drive the digital payments revolution. In the face of a slow global economy and foreign exchange headwinds, PayPal exceeded its full year revenue, earnings, and free cash flow commitments to shareholders. As money becomes digital and the world goes mobile, we see tremendous opportunity ahead to expand our leadership, transform the way people move and manage their money and deliver increased value to shareholders.”
  • Discover Financial Services Reports Fourth Quarter Net Income of $500 Million or $1.14 Per Diluted Share - "We once again delivered a solid return on equity in the fourth quarter. While we achieved record annual originations in both Student Loans and Personal Loans, card loan growth was at the low end of our target range, slower than we'd like," said David Nelms, chairman and CEO of Discover. "We are taking steps to accelerate card loan growth in 2016 while staying disciplined on credit and continuing to execute on our Payments strategy."
  • Visa Europe announces record revenues - "Visa Europe has today announced its highest ever revenues of €2.31 billion – up 25% year-on year (year to June 2015). Costs have been held flat for a fourth successive year and the organisation has returned a record €739 million to its member-shareholders in the form of rebates and joint-investment initiatives."

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 20, 2016

Headline News from PaymentsNews.com - January 20, 2016

ON THE WEB

ON THE WIRES

  • New IMF Staff Paper Looks at How to Reap the Benefits and Curtail the Risks of Virtual Currencies - "Achieving a balanced regulatory framework that guards against risks without suffocating innovation is a challenge that will require extensive international cooperation, says a new staff paper, “Virtual Currencies and Beyond: Initial Considerations,” released today by the International Monetary Fund (IMF) during the World Economic Forum."
  • R3 brings eleven major global financial institutions together on a cloud based distributed ledger - "R3 and consortium member banks Barclays, BMO Financial Group, Credit Suisse, Commonwealth Bank of Australia, HSBC, Natixis, Royal Bank of Scotland, TD Bank, UBS, UniCredit and Wells Fargo each connected on an R3-managed private peer-to-peer distributed ledger, underpinned by Ethereum technology and hosted on a virtual private network in Microsoft Azure, the public cloud platform offering Blockchain as a Service (BaaS) in an accelerated development environment."
  • Global Payments Partners with Mobeewave to Offer Innovative Add-On-Free Mobile Payment Acceptance Solution - "The solution is designed to enable secure, in-person payment transactions, made with any contactless credit card or mobile wallet (e.g. Apple Pay®, Samsung Pay, Android Pay™), directly on an NFC-enabled mobile device, without the need for additional hardware such as a card reader or dongle."
  • Western Union Cross-Border Platform Connects Consumers to over One Billion Bank Accounts - "“The account payout network capability represents a natural evolution in Western Union's cross-border platform and omni-channel strategy to reach new digital-savvy, banked and mobile enabled consumers. Western Union is actively pursuing digital innovation enterprise wide, increasing consumers’ choice of money transfer channels and facilitating financial inclusion in emerging countries around the world."
  • InComm Digital Solutions Introduces Digital Open-Loop Prepaid Products - "The new products are digital versions of Visa gift or reward cards delivered to an email address and are redeemable on any U.S.-based e-commerce site where Visa debit cards are accepted."
  • Nielsen Study: Innovation in Mobile Technology, Payment Options & Retail Strategy Drive Borderless Shopping - "As technology and the retail landscape rapidly evolve, payment practices are also changing. More than half of respondents who say they shopped online during the past six months paid with a traditional credit card (53%), but roughly four-in-10 used a digital payment system such as PayPal (43%), debit card (39%) or direct debit from their bank account (38%)."
  • Merchants to Face More Chargeback Challenges as CNP Fraud Escalates - "Our research revealed that almost two-thirds of physical goods merchants believe that outsourcing fraud mitigation and chargeback management has become cost effective. We believe working with a third-party solution provider who specializes in end-to-end management of CNP transactions will be the future for online merchants who are already at a higher risk for this type of fraud than their brick-and-mortar peers."
  • Moneris launches business-to-business payment solutions to optimize commercial card acceptance - "Moneris' B2B services target business suppliers accepting payments from commercial customers and card issuing partners who require support enabling suppliers for card acceptance. Suppliers will be offered accounts receivable solutions that move them off of traditional cheque and invoicing systems, speed up payment delivery times and optimize business operations. Card-issuers will benefit from supplier enablement services that help simplify the migration to electronic payment acceptance for suppliers. "
  • Visa Inc. Appoints Lynne Biggar as Chief Marketing and Communications Officer - "While at Time Inc., Ms. Biggar was responsible for marketing to consumers for all Time Inc. brands across all channels, direct marketing company Synapse, Time Inc. Retail, Time Inc. Books, Consumer Insights, Data Solutions and Time Customer Service. Prior to her role at Time Inc. she spent more than 20 years at American Express in a variety of general management and marketing positions in both the US and international divisions and was a member of the company’s Global Management Team."

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 19, 2016

Headline News from PaymentsNews.com - January 19, 2016

ON THE WEB

  • The Really Big Questions in Payments - PaymentsViews.com (Carol Coye Benson) - "Glenbrook’s Allen Weinberg wrote a few weeks ago about his view of the Grand Challenges in payments…. a daunting list, and one I agree with. But I want to extend his discussion on one of his challenges: “Realigned value chain economics in a push payment world”, and add two more: “What is the proper role for government in the issuance of money?” and “Who owns the payment address?”"
  • As More Pay by Smartphone, Banks Scramble to Keep Up - New York Times - "If the banks fail to meet the challenge, Brian Moynihan, the chief executive of Bank of America, warned in November, “it may allow part of our industry to be forever taken away from us.”"
  • Cash still king for many consumers - Chain Store Age - "While more than half (57%) of Millennials reported using a greater variety of payment methods than before, nearly half (45%) of that group also said that they’re more likely to pay more with cash now than they did a few years ago."
  • Keep Calm and Bitcoin On - Medium (Valery Vavilov) - “Visa and PayPal already exist, and within national borders they do what they do quite well. It’s silly to try to turn Bitcoin into yet another Visa and PayPal.”
  • Intel Launches Skylake vPro with Intel Authenticate - AnandTech - "Intel is launching Intel Authenticate today, and it will require a 6th generation Intel Core processor with vPro. Authenticate will combine several factors of authentication into a single login, which, in theory, should be easier for the end user as well."

ON THE WIRES

  • Sam’s Club to Accept Visa Credit Cards - “Sam’s Club is the eighth largest retailer in the U.S. and we are thrilled to open up Visa credit acceptance in their more than 650 clubs across the U.S. and Puerto Rico,” said Ramón Martín, senior vice president, merchant solutions, Visa Inc.
  • American Express OPEN Launches No Annual Fee SimplyCash® Plus Business Credit Card - "American Express OPEN today announced the launch of the no annual feei SimplyCash® Plus Business Credit Card, which for the first time offers small businesses greater buying power traditionally found on a charge cardii, while also providing more opportunities to earn cash back from a larger list of business expense categories."
  • More than 100 FIDO Certified Products Fuel Global Adoption of FIDO Strong Authentication - “This explosion of FIDO Certified products and adoption numbers confirm industry-wide endorsement of FIDO as the new strong authentication technology standard,” said Brett McDowell, executive director of the FIDO Alliance. “This increasing availability of FIDO Certified solutions creates an unprecedented opportunity for organizations to implement simple, usable and strong authentication and better protect customers, employees and data from the risks of data breaches, hacking and identity theft.”
  • BitGo Eliminates Bitcoin Transaction Delays With Launch of BitGo Instant - "BitGo Inc. is today announcing the launch of BitGo Instant, the world’s first way to safely receive zero-confirm Bitcoin transactions with a full financial guarantee."

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 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!

December 16, 2015

Headline News from PaymentsNews.com - December 16, 2015

On the Web

  • Merchants Go on Offense in Digital Payments - PaymentsViews.com (Bryan Derman) - "We are now seeing that economic leverage gradually imposed on the rest of the payment value chain (short-circuiting network fees through negotiated, bilateral interchange) in a way that more fully reflects their importance of major retailers in the dominant consumer sector of the U.S. economy."
  • Federal Reserve issues FOMC statement - "Given the economic outlook, and recognizing the time it takes for policy actions to affect future economic outcomes, the Committee decided to raise the target range for the federal funds rate to 1/4 to 1/2 percent."
  • Braintree Drives Commerce Forward with Facebook Messenger and Uber - Braintree Blog - “We are excited to partner with Braintree to offer users increased convenience, flexibility, and security,” said P.J. Linarducci, Facebook Head of Payment Products.
  • Australia banks agree Android Pay deal, Apple Pay still frozen out - Reuters - "It's a big bargaining chip for (Australian) banks to use to force a better deal with Apple," said Foad Fadaghi, managing director of technology research firm Telsyte.
  • Paytm’s Founder On Its Online-To-Offline Strategy In India - TechCrunch - "In India, Paytm also wants to position itself as a better option than credit cards, which are slowly gaining in popularity but still used by relatively few Indian consumers."
  • Asia-Pacific Is Home to Majority of World Retail Ecommerce Market - eMarketer - "For the first time, the region will not only have the largest digital retail market in the world, but its share of global digital retail spend will also reach 52.5%—the first time it holds an outright majority of the world market."

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!

December 04, 2015

Headline News from PaymentsNews.com - December 4, 2015

On the Web

  • Apple Makes A Beeline For Carrier Billing In Emerging Markets, Starting With Russia - Techcrunch - "It’s therefore a perfect storm for Apple and carrier billing: countries like Russia represent a lot of growth for Apple, and so it’s creating a way to make it easier for consumers in these markets to pay..."
  • MasterCard, Visa Named Top Global Innovators - Wall St. Journal - "Six financial services firms are ranked among Boston Consulting Group’s annual list of top 50 global innovators. This is after two years of drought when no financial companies made the cut."
  • Machine Learning and Big Data Know It Wasn’t You Who Just Swiped Your Credit Card - Scientific Computing - "Fraud detection is an arms race between good guys and bad guys. At the moment, the good guys seem to be gaining ground, with emerging innovations in IT technologies, such as chip and pin technologies, combined with encryption capabilities, machine learning, big data and, of course, cloud computing."
  • Our thoughts on Ethereum - Medium (KPCB Edge) - "We think Ethereum as a software platform significantly adds to the potential ways blockchain technology could be used in an application’s technology stack."
  • Q: What Might Drive Bitcoin Mass Adoption? - Medium - "As was the case on the early internet, the early pioneers mainly consist of the speculators, developers and scientists who see this potential, building out early infrastructure on top of the base transport layer, with the masses joining in only once the killer applications develop, not the other way around."

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 01, 2015

Headline News from PaymentsNews.com - December 1, 2015

On the Web

  • The Future of Personal Payments - Medium (Jeremy Allaire) - "Long considered a product and market backwater, given countless product efforts in the West that have largely failed to live up to the hype or potential, p2p payments is now emerging as potentially one of the most valuable pieces of consumer Internet real estate."
  • Why Apple Wants to Get Into the Unprofitable World of Payments Between Friends - Bloomberg - "Apple isn’t likely to find a way to profit directly from the feature. Instead, the company will probably use it to increase adoption of Apple Pay in stores."
  • Touch ID Is The Gift That Keeps On Giving - ReadWrite - "While some think Apple Pay requires you to open the Apple Wallet (formerly Passbook), find the card, hold it in front of the register, and then authenticate using Touch ID, you don't. All you actually have to do is hold the phone near the register with your finger on the Touch ID "home" button. That's it."
  • JCPenney testing store card support for Apple Pay, full rollout due in spring 2016 - MacRumors - "Thus far, Kohl's is the only major retailer that currently allows its store cards to be added to Apple Pay, but both Kohl's and JCPenney have been touted as the two major partners for the feature."

On the Wires

  • CO-OP Financial Services to Offer Visa Checkout for Easy, Secure Online Shopping - "“Visa Checkout is a simpler, more secure way for credit union members to pay online almost anywhere in the world,” said Stan Hollen, President/CEO of CO-OP. “Visa Checkout is another advanced digital product that underscores CO-OP’s commitment to helping our credit union clients keep their branded credit cards top of wallet, regardless of what payment services the member may choose.”
  • CO-OP Financial Services Offers MasterPass by MasterCard - “CO-OP is committed to partnering with credit unions to help them deploy a digital e-commerce solution that fits the needs of their members,” said Stan Hollen, President/CEO of CO-OP. “MasterPass is an important piece of a comprehensive digital e-commerce strategy, and complements digital wallets such as Apple Pay, Android Pay, Samsung Pay and others.”
  • BBC Worldwide Selects Vindicia to Manage Payments for BBC Store - Gene Hoffman, chief executive officer and chairman at Vindicia, said: “Vindicia’s CashBox solution enables audiences to buy BBC content quickly and easily using cash available in their e-wallet, or via other means, such as PayPal or store-bought gift cards.”
  • American Express Serve® Expands Largest Free Cash Reload Network1 in U.S. - “We are thrilled to add Dollar General and Rite Aid to our Free Cash Reload network, giving Account holders even more places to add cash at convenient locations in their communities,” said Stefan Happ, Chief Commercial Officer, Enterprise Growth, American Express.

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 30, 2015

Headline News from PaymentsNews.com - November 30, 2015

On the Web

  • China's Mobile Payments War Is Going Global - AdvertisingAge - "For brands catering to Chinese consumers, whether at home or overseas, Alipay and WeChat payment are the two main mobile payment players to watch and understand; their intense competition is driving innovation and new consumer habits."
  • Trouble in the Checkout Line: Which Way to Pay? - Wall St. Journal - "The choice at checkout used to be simple: Cash or credit? Now consumers confront a dizzying array of payment possibilities: PIN or signature? Dip or swipe? Wave or tap? You really want to pay with your watch?"
  • Four E-Commerce Lessons From Black Friday Weekend 2015 - Re/code.net - "According to multiple studies, ecommerce sales on Thanksgiving this year grew more than on Black Friday."
  • Watch Out, Visa and MasterCard; Here Comes Blockchain - Barron's - "The virtual currency had a surge of popularity before a panic led to extreme skepticism about such fantasy money. But blockchain technology is a sound idea that’s separate from Bitcoin, and it could end up having a far greater impact than the currency."
  • With IPO out of the way, payments disrupter Square plots Aussie growth - Financial Review - "Square's Australian country manager, Ben Pfisterer told The Australian Financial Review the company was about to embark on a local hiring spree, which would focus on marketing and business development, while it figured out plans to roll out some of its more well-known products."
  • Apple's Failed Retail Revolution: Beacons Still Won't Be Big on Black Friday - Bloomberg - "A survey conducted by Forrester earlier this year found that only 3 percent of retailers use beacons; just 16 percent had plans to try the technology in the foreseeable future."

On the Wires

  • Swatch Partners With Visa for Pay-By-The-Wrist Contactless Payments - "Swatch SA and Visa Inc. together with Visa Europe have signed an agreement giving eligible Visa cardholders in the U.S., Switzerland and Brazil the ability to tap and pay with Swatch’s new "pay-by-the-wrist" watch."
  • BlueSnap Launches the Powered Buy Platform - “Converting a shopper to a buyer on a mobile device requires more than just having a mobile-optimized site or an app,” says Ralph Dangelmaier, CEO of BlueSnap. “We’ve spent the last year optimizing the set of capabilities that merchants need to solve their payments conversion problem — and built that into our Powered Buy Platform. Clients who’ve used it have seen their payment conversions increase dramatically – improving their sales literally overnight.”
  • Krispy Kreme® Launches Mobile Rewards Program Powered by NCR - “Our goal in developing the Krispy Kreme Rewards program was to enable guests to experience the joy that is Krispy Kreme and earn rewards for their loyalty,” said Tony Thompson, Krispy Kreme’s President and CEO. “It is critical for us to know our guests more personally and our mobile app provides the data that helps us meet the needs of today’s consumer.”

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!

November 16, 2015

Headline News from PaymentsNews.com - November 16, 2015

On the Web

On the Wires

  • Nordstrom Launches Enhanced E-Gifting Experience with CashStar - "With CashStar Commerce, Nordstrom has enabled its customers to create a highly personalized e-gifting experience for their recipients with a large selection of Nordstrom-designed faceplates and artwork and ability to add a personalized message. The eGift card is delivered in a virtual Nordstrom silver envelope, an extension of Nordstrom’s signature silver box experience. Senders can also choose to have the eGift delivered instantly or on a future date and will receive notification when their gift has been viewed."
  • U.S. Bank Consumer Study Raises New Perspective on How Banks Balance Technology with a Human Touch - "Approximately 70 percent of consumers across all generations (85 percent of millennials) believe banks that are current with the latest technology are more trustworthy than banks that lag; however, nearly 4 out of 5 Americans say when it matters most, they value people more."
  • MasterCard Connects Startups to Its Global Network of Big Brand Partners - "Launched in 2014, MasterCard Start Path is a global effort to support innovative early stage startups developing the next generation of commerce solutions. This initial class of early-stage startups, selected from more than 200 applicants, are using big data, mobile and cloud-based applications to build digital relationships, empower consumers and simplify complicated tasks."
  • JCB Certified for U.S. EMV Chip Card Acceptance - "We are extremely pleased to achieve our first U.S. EMV acceptance certification,” said Dan Skaling, executive vice president for JCBUSA. “JCB has been a leader in EMV card acceptance in markets around the world for the past 10 years,” added Skaling. “Being able to give our cardholders this same safety and security when making purchases in the United States is a top priority,” continued Skaling.
  • Chase Commerce Solutions will streamline EMV certification with Host Payment solution from UL - "The "Chase Payment" module, which works with UL's existing Brand Test Tool solution, was specially designed for Chase so that their large and midsized business clients can test and pre-certify their end-to-end EMV solution prior to certification," says Sherif Samy the Commercial Director of UL's Transaction Security Division."

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!

November 04, 2015

Headline News from PaymentsNews.com - November 4, 2015

On the Web

On the Wires

  • ACI Strengthens Board of Directors with Appointment of Payments Luminary - ACI Worldwide announced today the appointment of Janet Estep to its Board of Directors. Estep serves as president and CEO of NACHA - The Electronic Payments Association® that oversees the Automated Clearing House (ACH) Network.
  • Worldline and Equens Intend to Join Forces to Create the New Pan-European Leader in Payment Services - "Worldline and Equens consider this step as a major milestone in the consolidation of the European payments market. The strategic aim of the new entity is to be one of the leading and most innovative payment service providers for financial institutions and corporates in Europe."
  • Fast B2B Bill Payment: Entryless Releases Seamless Payments - "With the release of Entryless Seamless Payments, users have one application that automates bills from receiving to paying. Users can upload bills or receive them directly from suppliers. Entryless automates data entry, review and approval, then synchronizes bills with the accounting system. Entryless Seamless Payments allows users to then make payments in the same application as their bills are recorded. Synchronization with accounting software captures all activities in the business accounting system."
  • P97 Networks Helps Accelerate Mobile Commerce for Retail Fuels Market - “We are excited to accelerate the digital transformation of the fueling, parking and quick service restaurant industries by providing a marketplace to help simplify the merchant and consumer experience,” said Gil Perez, SVP IoT & Customer Innovation, General Manager Connected Vehicles at SAP. “SAP Vehicles Network harnesses the power of SAP HANA® Cloud Platform for the Internet of Things to offer a simpler and more secure set of cloud micro services to help app developers, merchants or automotive OEMs consume and generate new revenue streams.”

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!

November 02, 2015

Visa Inc. to Acquire Visa Europe

Visa 2014 logo 140x60Visa Inc. and Visa Europe Ltd. have announced a definitive agreement for Visa Inc. to acquire Visa Europe.

The transaction consists of upfront consideration of €16.5 billion with the potential for an additional earn-out of up to €4.7 billion payable following the fourth anniversary of closing, for a total value of up to €21.2 billion. The upfront consideration comprises €11.5 billion of cash and preferred stock convertible into Visa Inc. class A common stock valued at €5 billion. Both companies’ boards were unanimous in their support of the transaction. The transaction is subject to regulatory approvals and is expected to close in Visa Inc.’s fiscal third quarter of 2016.

“We are very excited about unifying Visa into a single global company with unmatched scale, technology and services,” said Charles W. Scharf, chief executive officer, Visa Inc. “This transaction is beneficial for financial institutions, acquirers, merchants, cardholders, and other partners, as well as for our employees and shareholders. The Visa Europe team has done a tremendous job building a leading payments system that is trusted and respected across Europe, and together we will bring the power of electronic payments to more people, in more places, than ever before.”

“Visa is a great global brand with a proud history and exciting future. Visa Europe has delivered impressive results over recent years and the Board believes that it is the right time to reunite these two very healthy businesses under common management. The deal will unlock significant value for members both through the consideration paid and because the Board believes a combined Visa will be better positioned to serve the needs of customers going forward. We are confident that Visa Inc. is committed to long term investment and development of the European business,” said Gary Hoffman, Chairman of the Visa Europe Board.

In discussing integration plans, Scharf commented, “We look forward to the new integrated Visa, and we are fully committed to ensuring our efforts in Europe are tailored to meet local market needs. This includes being responsive to the evolving regulatory landscape, maintaining a European data center, and partnering with Europe’s growing payments ecosystem to co-develop locally-relevant products, services and experiences. This combination strengthens our payments system in Europe, as together we have even greater financial resources to invest in technology assets. Finally, we will continue to have a strong local management team in Europe, with London remaining as headquarters for the region.”

Headline News from PaymentsNews.com - November 2, 2015

On the Web

  • Will NACHA's Same-Day ACH Rules Change Be an Exception-Only Service, At Least in the Short Term? - Take on Payments Blog - "Given these compromises, what do you think financial institutions can do to accelerate broader adoption of same-day?"
  • The great chain of being sure about things - Economist - "The advent of distributed ledgers opens up an “entirely new quadrant of possibilities”, in the words of Albert Wenger of USV, a New York venture firm that has invested in startups such as OpenBazaar, a middleman-free peer-to-peer marketplace. But for all that the blockchain is open and exciting, sceptics argue that its security may yet be fallible and its procedures may not scale. What works for bitcoin and a few niche applications may be unable to support thousands of different services with millions of users."
  • Are Bitcoin and the Blockchain Joined At The Hip? - AVC.com (Fred Wilson) - "Obviously Bitcoin could become “nothing more than a curiosity” if all the action moves to other blockchains. But right now the Bitcoin blockchain has an order of magnitude more hashing power and market cap, so we are certainly not seeing any other blockchains developing the kind of network effects that Bitcoin has."
  • Things I Think I Know About Blockchains, Public and Private - Medium (Ryan Shea) - "The Bitcoin blockchain is currently the strongest and most secure blockchain by far, so it just makes sense to build on top of it. This may change over time, but for now the Bitcoin blockchain reigns supreme."
  • Amazon Shutting Down Its ‘Register’ Credit Card Processor - New York Times - "Much like competing products from Square and PayPal, the idea was to bring payments processing to businesses that did not previously offer it. That plan did not work out. Amazon stopped offering the device to new merchants as of Friday evening, and it will stop supporting Amazon Register by February."

On the Wires

  • Visa Inc. Reports Strong Fiscal Fourth Quarter Adjusted Earnings Per Share Growth of 14% - "Visa’s fiscal fourth quarter was a strong finish to an equally strong fiscal full-year 2015 in terms of revenue and earnings per share growth in the face of a continued challenging global economic environment. The underlying growth of our franchise continued as evidenced by our strong payments volumes as well as new and renewed partnerships during the year. Most importantly, we continued to build our capabilities at the physical point-of-sale as well as in the digital space,” said Charlie Scharf, Chief Executive Officer of Visa Inc. “Although fiscal 2016 reported growth rates will be negatively impacted by a strong US dollar and an uneven global economy, we are well positioned for strong success in 2017 and well beyond.”

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 30, 2015

Headline News from PaymentsNews.com - October 30, 2015

What I'm Reading

  • This weekend your editor will be reading If You Really Want to Change the World: A Guide to Creating, Building, and Sustaining Breakthrough Ventures by Henry Kressel and Norman Winarsky. From the book's description: "Drawing on the authors’ experiences as well as those of their partners from around the world, Kressel and Winarsky share the stories of their triumphs and misses, demonstrate their method in action, and inspire their readers in the process. There are more opportunities now than ever before to build breakthrough companies that touch millions of lives. If this is your goal, let this book be your guide to creating world-changing ventures."
  • How about you? What are you reading? Drop me a quick note and tell me about it: editor@paymentsnews.com

On the Web

  • Visa Nears $22 Billion Deal to Buy European Counterpart - "The Foster City, Calif.-based payments network is in advanced negotiations to buy its European counterpart—Visa Europe—for about $22 billion in a deal that would unite Visa’s global operations under one roof, according to people familiar with the matter."
  • Heartland CEO: Blockchain Could Power Trillions in Bank Transactions - "It seems to me that the play is for banks [to use blockchain] to settle between themselves. There’s trillions in very high-end transactions going back and forth across borders between businesses," he said, adding without any real vigor: "That might be the breakthrough."
  • Fidelity Launches Fidelity App for Apple TV - "Starting today, the Fidelity App for Apple TV® is available on the all-new Apple TV, giving investors a new, convenient way to keep tabs on the markets and generate investing ideas. Fidelity is one of the first brokerage firms to offer an app for Apple TV, which owners of the new Apple TV can download on the App Store for Apple TV. Users can navigate the Apple TV app with its Siri Remote to display a variety of market data."

On the Wires

  • MCX CEO Brian Mooney Discusses New Partnership with Chase to Enhance CurrentC™ for Consumers - "Discussing MCX’s progress in bringing CurrentC™ to market, including its ongoing public beta, Mooney noted that the company continues to gather valuable insights from Columbus consumers, who can use the platform at more than 200 participating retail locations, including local CVS/pharmacy, Exxon, Giant Eagle and Giant Eagle Market District, Kmart, Mobil, Sam’s Club, Sears, Target, Walmart and Wendy’s locations. The beta will soon expand to include select local Shell fuel stations."
  • Heartland Acquires Digital Dining - "Headquartered in Springfield, Virginia, Digital Dining offers restaurants the convenience of a handheld POS on an iPad, iPhone, iPod and iPad Mini in a hybrid environment with conventional fixed terminals. Digital Dining is also used by restaurateurs for table management, delivery, reservations, labor scheduling, inventory and loyalty programs."
  • UnionPay International Launches mPOS Service in Pakistan - "This is an important progress of UnionPay International aiming at promoting innovative payment solutions in markets where the payment industry is still at an early stage of development. The Mobile POS solution, characterized with lost cost and high security features, will enable more small and medium businesses in Pakistan to accept UnionPay cards, and will expand use scenarios of UnionPay cards by local residents and business travelers to Pakistan."

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 26, 2015

Headline News from PaymentsNews.com - October 26, 2015

On the Web

On the Wires

  • Visa Brings Token Security to eCommerce - "Visa today announced that it has integrated token technology into Visa Checkout, the company’s online check out service used by merchants and consumers globally to make safe, easy payments in just a few clicks."
  • U.S. Banks Unite to Form Industry Leading Secure Real-Time Payments Network - In a joint prepared statement, the CEOs of Bank of America, BB&T, Capital One, JPMorgan Chase, U.S. Bank, and Wells Fargo said, “Our customers want the ability to make payments to anyone, in real-time, making funds instantly available in the recipient’s bank account. To achieve this, we are combining our collective, bank-owned digital payments network (clearXchange) with our fraud, risk and authentication assets (Early Warning), to further ensure that our customers can send money, confidently, securely, and in real-time via their financial institutions.”
  • The Clearing House Drives Closer to Standing-Up New Innovative National Real-Time Payment System - "The Clearing House (TCH) announced it has entered into a letter of intent with VocaLink, the UK-based international payment systems provider, to help build and deliver core elements of TCH’s new real-time payment system for the United States."
  • MasterCard Launches New Program That Can Turn Any Consumer Gadget, Accessory or Wearable into a Payment Device - “As more and more ‘things’ become connected, consumers will have endless possibilities when it comes to how they pay, and will need all of their devices to work seamlessly together,” said Ed McLaughlin, Chief Emerging Payments Officer at MasterCard. “This program eliminates the boundaries of how we pay by delivering a secure digital payment experience to virtually anything – rings, fitness and smart bands, car key fobs, apparel, and whatever comes along next.”
  • Western Union Introduces WU Connect Platform, Expanding Cross-Border Money Transfer via Mobile and Social Media - David Thompson, EVP, Global Operations and Technology and CTO, Western Union, expressed excitement about the potential impact of this new offering saying, "This puts Western Union in a position to extend its digital platform to networks whose users are looking for more convenient ways to send and receive money globally on a platform of their choice."
  • Sequent Launches Token Service Platform Supporting all Card Types and Networks - "Compatible with all major credit and debit card networks, Sequent Token Service Platform allows banks to deploy a single solution to support their entire credit and debit card portfolio plus profitable private label and prepaid cards."
  • E*TRADE Resets Mobile Bar with Apple Pay - "E*TRADE Financial Corporation today announced the release of Apple Pay functionality for E*TRADE debit card holders."
  • Scotiabank First Canadian Bank to Launch Bulk Interac e-Transfer® Service - "Scotiabank is pleased to be the first Canadian Bank to offer this innovative new service to meet the needs of our business banking customers," said Rania Llewellyn, Senior Vice President, Cash Management and Payment Services at Scotiabank. "We are always looking for new ways to make everyday business transactions fast, easy and secure for our customers, and with the Bulk Interac e-Transfer service, our business banking customers have more choices to send electronic payments efficiently."
  • TSYS and Ingenico Group to Offer New Semi-Integrated EMV Solution - "Using a semi-integrated approach, communications between the PIN pad and point-of-sale (POS) system are limited to non-sensitive exchanges, preventing card data from entering the POS. By taking the POS out of the payment flow process, not only are EMV certification and PCI compliance simplified, but overall costs and time required for EMV implementation are reduced as well."
  • Mozido Expands Digital Payments Offering: Launches U.S. - China Cross-Border Payment Gateway - "The Mozido PayEase Payment Gateway service enables Chinese consumers to securely pay with their local bank accounts and credit cards with reliable settlement of the funds to the U.S. merchant’s bank account. As the first and most trusted cross-border payment gateway in China, Mozido PayEase breaks down barriers by allowing Chinese citizens to pay in their local currency while allowing the merchant to be paid in their home currency through a seamless transaction."
  • Dream Payments Launches Canada's First Off-The-Shelf EMV Payment Terminal That Accepts Interac Debit Card Payments - "The Dream solution consists of an MPOS application for iOS® and Android™ based smartphones and a Bluetooth® enabled EMV Debit and Credit Card Reader. The Dream card reader is available through TELUS at an introductory price of $99.99. Payment processing fees are low cost; $0.25 for Interac Debit card transactions and 2.75% for Visa® and MasterCard® credit card transactions."
  • Penny Inc Launches at Money20/20 with Prepaid MasterCard® Card and Integrated Mobile App Solution
  • - "Penny Inc, which provides payments and expense and travel management solutions for small to medium-sized businesses, today announced the launch of the Penny Inc prepaid MasterCard® card program (“Penny”) virtually connected to a mobile app."
  • INTECH to Provide Prairie Cloudware Platform to Credit Union Clients - "INTECH will white label the Prairie Cloudware technology allowing credit unions to offer members a mobile wallet that carries the institution’s brand. The initial deployment of the Digital Payments Guardian for INTECH will offer an Android mobile wallet with a Visa card. The solution can be extended to include additional payment cards and sources as well."

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 23, 2015

Headline News from PaymentsNews.com - October 23, 2015

What I'm Reading...

  • This weekend your editor will be reading Other People's Money: The Real Business of Finance by John Kay, a visiting professor of economics at the London School of Economics. From the book's description: "In a dazzling and revelatory tour of the financial world as it has emerged from the wreckage of the 2008 crisis, Kay does not flinch in his criticism: we do need some of the things that Citigroup and Goldman Sachs do, but we do not need Citigroup and Goldman to do them."
  • How about you? What are you reading? Drop me a quick note and tell me about it: editor@paymentsnews.com

On the Web

  • Take Your Brick-and-Mortar Store Online: Square Now Integrates with Ecwid - Square Blog - "But here’s what’s extra cool about Ecwid: You can use it to sell your goods not only on your website but also on any other platform (think: Facebook, Tumblr, other online marketplaces)."
  • Global Payments (GPN) held its annual Investor Day earlier this week.
  • Payment Cards Center Updates Consumer Credit & Payments Statistics - "The Payment Cards Center (PCC) Consumer Statistics page provides updated statistics related to consumer credit and consumer payments. The PCC compiles statistics on a quarterly basis that are relevant to researchers, reporters, and others interested in consumer credit and payments."
  • What VCs Really Think of Banks - LendAcademy - "Investments into FinTech startups recently quadrupled, growing to over ~$12 billion in 2014 from ~$3 billion in 2013. It appears 2015 is on track to dwarf the previous year..."
  • Have you noticed Amazon Web Services? - New York Times - "Amazon had more operating income from Amazon Web Services, its business renting computing and software applications, than it did from combined sales of goods in the United States and internationally."

On the Wires

  • It's a slow day for press releases - presumably everything interesting is now waiting to be announced next week at Money20/20 in Las Vegas! Have a great weekend and trip to the conference - if you're going! Several partners from Glenbrook will be attending.
  • Statement by CFPB Director Richard Cordray on RushCard Prepaid Card Incident - "Today, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray issued the following statement in response to the RushCard situation, a prepaid card owned by UniRush LLC, in which many consumers have indicated that they have been unable to access funds in their accounts for more than a week..."
  • Visa Checkout Brings Simplified Online Shopping to Brazil - "In the US, shoppers made purchase more often when using Visa Checkout compared to customers using other payment options,” says Percival Jatoba, vice president, products, Visa do Brasil. “With this streamlined approach to payments, merchants and financial institutions see higher conversion rates which ultimately brings new customers and drives higher sales."

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 22, 2015

Headline News from PaymentsNews.com - October 22, 2015

On the Web

On the Wires

  • Introducing Verifone Engage, the Future of Connected Payment Devices - "Verifone Engage is the company’s first-ever, fully-integrated, Linux-based product family, encompassing a complete range of payment solutions for merchants, acquirers, and service providers. It is the result of a new strategy at Verifone to bring unique value to the POS and the consumer experience with intuitive, connected and commerce-enabled solutions."
  • Poynt Announces $28 Million in Funding As It Prepares to Ship the World's First Smart Terminal - “Poynt is one of those rare companies that is aligned with the interests and needs of all parties in its ecosystem; it solves multiple merchant, bank, developer, and consumer problems with stellar technology and design, and it benefits from impeccable timing. What Poynt has been able to accomplish, building both hardware and software in the notoriously challenging payments space, is simply incredible.”

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 21, 2015

Headline News from PaymentsNews.com - October 21, 2015

On the Web

On the Wires

  • Visa Launches New Platform to Help Card Issuers Market and Grow Their Business - "Visa Inc. today announced the launch of Visa Integrated Marketing Solutions (VIMS), a card marketing platform designed to help small to medium-sized issuers optimize their marketing efforts. The VIMS platform enables the development and execution of key marketing services across the customer lifecycle – from acquiring new customers to cardholder retention."
  • W3C Starts Web Payments Standards Work to Streamline the Online "Check-Out" Process - "The industry has looked to digital wallets as a way to improve security and usability, as well as to support marketing initiatives. And yet, users have not yet wholeheartedly embraced them," said W3C CEO Dr. Jeff Jaffe. "We believe that one reason for this is that the digital wallet market is fragmented and providers use incompatible programming interfaces."
  • Diebold Software Innovation Slashes Fraud Exposure Through Secure Onboarding To Digital Payments - "SimplyTapp believes extending consumer relationships through mobile devices is critical to the future of banking," said Doug Yeager, SimplyTapp chief executive officer and co-founder. "Together with Diebold's secure self-service technology and our leading Cloud Token Solution, the need for highly secure authentication and card onboarding can now be fully realized at the convenience and familiarity of a bank's ATM."
  • Synchrony Financial Launches CarCareONE Mobile App to Deliver Account Servicing, Store Locator Functionality, and Special Offers to Millions of Cardholders’ Smartphones - “Our CarCareONE app offers a new platform for our automotive merchants to engage with their customers wherever they are,” said Glenn Marino, executive vice president & CEO of Synchrony Financial’s Payment Solutions platform. “We know that financing is an important consideration for drivers dealing with an unexpected repair or routine maintenance, and this innovative app provides CarCareONE cardholders a useful tool to manage their account, locate services for all their auto maintenance needs, and find valuable offers from our network of retailers and service shops across the country.”
  • Buy With Affirm, Pay in Monthly Installments Now Available to 3dcart eCommerce Merchants - “Installments aren't just a slick way for consumers to temporarily defer payment," said Levchin. "It’s how Affirm helps eTailers boost sales and consumers, who may not have credit cards or who choose not to use them, pay for their purchases in a way that best matches their monthly budgets."
  • Intuit and Fundbox Partner to Tackle #1 Pain Point Faced by Small Businesses: Cash Flow - Fundbox CEO Eyal Shinar added, “We are thrilled to become a more deeply embedded solution within Intuit’s QuickBooks ecosystem - we know millions of SMBs will benefit from this partnership.
  • SumUp Expands To U.S. With Launch Of EMV Card Terminal - "It's a perfect time to bring SumUp to the U.S. The shift to EMV chip cards puts more costly fraud liability on stores without chip terminals -- but only half of small businesses are even aware of EMV liability," said Daniel Klein, CEO of SumUp. "EMV is the norm around the world, and SumUp is the platform of choice for EMV transactions in 14 countries today. We are here to help U.S. merchants and partners such as cash register vendors to transition quickly and securely to EMV, by making payments as easy as possible for their customers."
  • Discover Financial Services Joins Banking Industry Architecture Network - "Discover Financial Services recently joined the Banking Industry Architecture Network, a not-for-profit industry standards association, to leverage a banking-industry-specific framework and standard messaging to speed the delivery of new products and services."

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 20, 2015

Headline News from PaymentsNews.com - October 20, 2015

On the Web

  • Remote Order and Pay - Medium (Scott Loftesness) - "Way back in the early 2000’s I was a board member of Ontain — a startup focused on remote order and pay."

On the Wires

  • Chase Doubles Up on Rewards: Marriott Rewards and United MileagePlus Credit Cards from Chase Join Forces for the First Time - "Between November 1 and November 30, 2015, Marriott Rewards Premier cardholders will earn double points on purchases with United® and eligible United MileagePlus Explorer, Club and Presidential Plus cardholders will earn double miles on purchases at Marriott® properties."
  • Fifth Third Bank Launching New Mobile App for Commercial Cards - “Fifth Third’s commercial card mobile app can improve the ease in which our commercial card clients and their employees conduct business, allowing them to focus more effort and time on driving results to their bottom line.”
  • Early Warning Introduces the Authentify Platform - “The Authentify Platform addresses the multi-dimensional challenge of payments’ risk. It brings together multiple modes of authentication – all sitting on top of a bank consortium model that is powered by shared intelligence – to simplify risk-managed authentication while strengthening accuracy and speed to optimize the consumer experience."
  • NAFCU: EMV Chip-Card Transition Is Not Silver Bullet, Cybersecurity and Consumer Protection Require Multi-Tiered Approach - "Specifically, NAFCU supports Sens. Tom Carper, D-Del., and Roy Blunt, R-Mo., bipartisan measure, S. 961, the “Data Security Act of 2015,” and the companion House bill introduced by Rep. Randy Neugebauer, R-Texas, and Rep. John Carney, D-Del., H.R. 2205, which would set a national data security standard for retailers akin to GLBA while acknowledging financial institutions’ existing adherence to GLBA standards."
  • CyberSource Brings Real-Time Fraud Analytics to Merchants - “Merchants create rules and parameters in their fraud management systems that determine whether a transaction is accepted or denied, based on risk levels,” said Andre Machicao, senior vice president, CyberSource, a Visa Inc. company. “In some cases, the parameters they set might be overly cautious, causing them to lose legitimate, safe business unnecessarily. CyberSource’s new capability allows merchants to back test prior transactions to see what would have happened if they had set different rules.”
  • Seamless Distribution AB: New SEQR Service: International Remittance and Payments – Offering Money Transfers between Countries Free of Charge - “Demand for international transfers is constantly growing as people’s lives become increasingly global. But established payment agencies charge high fees, making money transfers expensive. SEQR can offer a highly competitive and simple alternative - something we’re convinced many people will appreciate,” says Peter Fredell, CEO of Seamless. “This service is an important part of our international expansion.”
  • Discover Financial Services Joins Banking Industry Architecture Network - "Discover Financial Services recently joined the Banking Industry Architecture Network, a not-for-profit industry standards association, to leverage a banking-industry-specific framework and standard messaging to speed the delivery of new products and services."

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 14, 2015

Headline News from PaymentsNews.com - October 14, 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!

October 06, 2015

Headline News from PaymentsNews.com - October 6, 2015

On the Web

  • It’s About the Blockchain - PaymentsViews.com (George Peabody) - "2015’s story is the interest of fintech vendors, financial institutions, start-ups, and other enterprises in what blockchain ledgers have to offer. We’re seeing experimentation built on the bitcoin blockchain itself."
  • Turkey launches a national credit card system - Daily Sabah - "Turkey launched a new electronic card payment clearing system, the Istanbul-based InterBank Card Center (BKM) announced yesterday. The system, named "TROY," will be operational from April 1, 2016, the BKM said."
  • Apple Pay Makes Inroads for Everyday Purchases - eMarketer - "Mobile payments are slow to catch on among the general population, but early adopters of the Apple Watch are also rapidly adopting Apple Pay, research suggests."
  • Apple Pay Faces Tough Crowd in First Year - Bloomberg - "Apple Inc. Chief Executive Officer Tim Cook has called 2015 the “year of Apple Pay.” So far it’s been underwhelming."
  • Note to Payments Innovators: You Need a Value Proposition! - Credit Slips (Adam Levitin) - "The Fed is moving full-speed ahead on developing a faster payment system. But very few consumers actually need such a system. For all the complaints about our dated mag stripe card payments, they work really, really well. It's hard to come up with a clear value proposition for any replacement."
  • Trump Hotel Collection Confirms Card Breach - "The Trump Hotel Collection, a string of luxury hotel properties tied to business magnate and Republican presidential candidate Donald Trump, said last week that a year-long breach of its credit card system may have resulted in the theft of cards used at the hotels."
  • Australian Banks Unfriendly Towards Digital Currency - NewsBTC - "Not only will a negative attitude toward bitcoin affect the Australian market, but it could spread further afield. Many are fearful that this decision could have a long lasting negative effect that would influence the the country’s regulation process and opinions of consumers and lawmakers in other countries."
  • How Kenyan Banks Lost to Mpesa - Payments Africa - "Mpesa, a wildly successful payment platform contractually licensed to Safaricom, has prospered at the expense of what would have been banking services. Kenya’s banks have taken a back seat as Mpesa leads the payments market. It wasn’t always like this."
  • Santander InnoVentures Adds $4 Million to Ripple’s Series A Round - CoinDesk - "Ripple has received an additional $4m in funding from Santander InnoVentures, bringing its Series A total to $32m."
  • A New Chapter for Ripple - Ripple Blog - "We’re no longer experimenting. We’re delivering. That’s why we’re dropping the ‘Labs’ from Ripple Labs. From now on, it will just be Ripple—and Ripple is growing up."

On the Wires

  • MasterCard Identity Check to Simplify and Strengthen Online Shopping - "MasterCard today introduced MasterCard Identity Check, a suite of technology solutions that leverage advanced technologies to prove a consumer’s identity and further simplify the online shopping experience."
  • Visa and Chevron Bring Mobile Payments to the Pump - "Visa Inc. and Chevron U.S.A. Inc. today announced they will launch a mobile payments program at more than 20 Chevron-branded stations, accepting any NFC (near-field communications) payment service. The program, launching later this fall at select Chevron stations in San Francisco and Silicon Valley, will offer consumers a simple and more secure way to pay at the pump with a range of mobile payment services."
  • Visa Inc. Appoints Demetrios Marantis to Lead Global Government Relations - “I’m honored to join Visa at an incredible time in this dynamic industry,” said Marantis. “The payments ecosystem is rapidly changing, and I am excited to be part of an organization leading the conversation about digital payments in an increasingly mobile world, both in the United States and globally.”

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 24, 2015

Headline News from PaymentsNews.com - September 24, 2015

On the Web:

On the Wires:

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

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

September 23, 2015

Headline News from PaymentsNews.com - September 23, 2015

Please participate in this quick survey on B2B Payments:

  • Glenbrook's Erin McCune writes: We have plenty of strong opinions about B2B payments, but we're eager for YOUR perspectives. Please take a moment to answer our brief survey (only 5 questions!) here: https://www.surveymonkey.com/r/B2B2015-PN

On the Web:

  • First Data Aims to Raise $3 Billion in IPO - Wall St. Journal - "Payment processing giant First Data Corp. is planning to raise $3 billion in an initial public offering slated to kick off this week..."
  • Coming Soon to Checkouts: Microchip-Card Payment Systems - New York Times - "Visa drew a line in the sand four years ago: American merchants would have until October 2015 to update their systems or absorb the losses themselves. Other major card networks quickly adopted the same deadline."
  • EMV's 12 Elephant Fail and the Case for Contactless - LinkedIn Pulse (Nick Holland) - "Now, I’d not profess to be the smartest guy, but I do know a thing or two about the payments industry and for me, this was an awkward experience."
  • Square Opening St. Louis Office - CBS St. Louis - “St. Louis is an important part of Square’s history,” Jack Dorsey, co-founder and CEO, said in a statement. “It’s an incredible city and my hometown, and we’re excited to further invest in the community. Go Cards!”

On the Wires:

  • Enhancements to Federal Reserve Bank Same-Day ACH Service - "The Federal Reserve Board on Wednesday announced the approval of enhancements to the Federal Reserve Banks' same-day automated clearing house (ACH) service. The enhancements are intended to align the Reserve Banks' same-day ACH service with recent amendments to NACHA's ACH operating rules and will facilitate the use of the ACH network for certain time-critical payments, accelerate final settlement, and improve funds availability to payment recipients."
  • First Data and Pivotal Team Up to Deliver Simple and Secure Payment Services to Spring Developers - “At First Data, we are committed to working with the developer community to unlock the next big breakthrough in fintech,” said Guy Chiarello, President, First Data. “We are thrilled to join with Pivotal, a major force in the developer ecosystem, as we continue to attract developer talent and deliver ongoing innovation in payments.”

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 21, 2015

Headline News from PaymentsNews.com - September 21, 2015

On the Web:

  • Bank of America Files Patent for Cryptocurrency Wire Transfer System - CoinDesk - "The patent, filed on 17th March, 2014, and published 17th September, seeks to protect a system by which electronic funds could be sent between customer accounts using the underlying blockchain of a given cryptocurrency as the rails for payment."
  • First Data Buys Spree Commerce To Move Into Open Source Payments Technology - TechCrunch - "Prior to this, Spree had raised $6.5 million from investors that include AOL (parent of TechCrunch), Thrive, True Ventures, Vegas Tech Fund and others."
  • Inside Target Corp., Days After 2013 Breach - Krebs on Security - "The results of that confidential investigation — until now never publicly revealed — confirm what pundits have long suspected: Once inside Target’s network, there was nothing to stop attackers from gaining direct and complete access to every single cash register in every Target store."
  • Visa shelves mobile payment venture in India - Times of India - "The company Movida India, the joint venture that Visa had formed five years ago in partnership with Monitise Plc UK, has shut shop and Naushad Contractor, head of the 50:50 JV, has quit, three persons aware of the development told ET."

On the Wires:

  • Costco Extends Partnership with Elavon; Enhances Payment Processing Offerings to Business Customers - Guy Harris, Elavon’s North America president stated, “The renewal of this relationship is a natural fit. Costco’s steadfast focus on creating quality solutions for its members and Elavon’s commitment to premier customer service will continue to provide tangible benefits for members, including saving the average member hundreds of dollars annually.”
  • New ACI Worldwide Survey: 6 out 10 U.S. Consumers with Credit Cards are Not Ready for EMV - “The survey data validates the trends we have seen over the past year; with less than a month to go until the EMV liability shift, a staggering number of consumers are neither educated on nor aware of EMV; they don’t know why they have new chip-enabled cards,” said Mike Braatz, senior vice president, Payments Risk Management, ACI Worldwide. “And if consumers are unaware, the implications for retailers come October and throughout the holiday shopping season could be major, especially as retailers prepare for this new payment experience."
  • Card1 Debuts Universal Card Technology Connecting Conventional Payment Card to Digital Wallet Platform - "The Card1 card is a conventional, plastic payment card and requires no power or charging to use. The Card1 companion mobile wallet app enables consumers to easily add payment cards to enabled digital wallets using a mobile phone camera and secure payments made with a Card1 card."
  • ShopKeep Acquires Ambur POS - "Ambur provides an excellent point of sale app that was created by a restaurant owner, for restaurant owners.” said Norm Merritt, ShopKeep’s President and CEO. “This acquisition allows ShopKeep to further our reach into the restaurant industry and expand our overall market share amongst independent merchants.”
  • Jeff Jones Named President of U.S. Bank Corporate Payment Systems - “Jeff’s management acumen, demonstrated over many years at the bank, makes him the ideal choice to take the reins of our corporate payments business and position it for robust growth,” said U.S. Bank Vice Chairman for Payment Services Shailesh Kotwal.

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 16, 2015

Headline News from PaymentsNews.com - September 16, 2015

Heading to Portland!

Your editor is on his way to Portland, Oregon for this afternoon's Payments in Portland event. I'll be joining my partner Carol Coye Benson for this inaugural get together of Portland-based "payments geeks". Hope to see many of you there!

On the Web:

  • IBM Adapts Bitcoin Technology for Smart Contracts - Wall St. Journal - "Within the next few months, the venerable tech giant plans to release open source software that could be used to create digital contracts that—like bitcoin transactions—would be recorded publicly and securely on a world-wide computer network."
  • St. Paul judge certifies class-action status to banks in Target breach suit - StarTribune - "A federal judge in St. Paul on Tuesday granted class-action status to financial institutions suing Target Corp. for damages related to the 2013 cyberattack on its data system."
  • Submerging Payments, Part II - Finsurgency (Matt Harris) - "Over time, consumers won’t say “I’ll choose the card that has the best mobile interface”; they will choose Uber (or Apple Pay, Paypal, etc) and whatever funding mechanism they selected at inception will just fire away."

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!

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