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Wells Fargo

Welcome to the News View for "Wells Fargo".

Here, on these archive pages, you'll find all of the articles on Payments News for Wells Fargo 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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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 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!

December 07, 2015

Headline News from PaymentsNews.com - December 7, 2015

On the Web

  • EMV’s Not-Very-Even Distribution - PaymentsViews.com (George Peabody) - "In a market where simplicity and consistency has economic value—Apple Pay, PayPal, Amazon One-Click—cards are seemingly harder to use than ever while mobile payment methods proliferate and evolve. Of course, some merchants have contactless, many don’t, and some have even turned it off. Don’t get me started on that topic."
  • R3 CEV says global bank blockchain should be operating within a year - Sydney Morning Herald - "Tim Swanson, who joined R3 full-time this year and is also a research fellow at the Singapore Management University, says the biggest challenge working with banks to design protocols for a working blockchain, the technology underpinning bitcoin, is managing expectations while at the same time pushing to build a working platform as quickly as possible."
  • Forced authorisation chip and PIN scam hitting high-end retailers - Bentham's Gaze - "The fraud works when the retailer has a one-piece Chip and PIN terminal that’s passed between the customer and retailer during the course of the transaction."
  • Silicon Valley’s Hometown Bank Booms, But Risks Are on Horizon - Wall St. Journal - "The boom in technology startups has made SVB one of America’s fastest-growing banking companies..."
  • TransferWise Wants To Take Over The World - TechCrunch - "The startup’s secret sauce is a peer-to-peer model. For instance, if you have GBP and want to send EUR, TransferWise will automatically match you with people who want GBP and give you EUR in exchange."
  • Why Suppliers Should Get on the Corporate Card Bandwagon - Spend Matters (Steve Pedersen) - "When it comes to accepting corporate cards as payment, many suppliers experience a “sticker shock” effect before ever taking time to look under the hood. Upon closer examination of the benefits of card acceptance, many suppliers realize that they’re signing up for a lot more horsepower than checks and wire payments alone can provide."

On the Wires

  • SWIFT expands Innotribe programme to address market challenges - "SWIFT announces that Innotribe, its innovation arm since 2009, will expand its programme to support innovation in emerging FinTech ecosystems, such as Africa and Latin America. Innotribe will also launch a new initiative that challenges the SWIFT community to actively collaborate and develop utility-based solutions for the benefit of the global financial services industry."
  • 10 Disruptive Digital Trends Retailers Need To Know - "The notion that ‘the store is dead’ is not, in our opinion, the future – rather, stores will become highly technology-enabled to deliver a super-personalized customer experience and become the hub of omni-channel customer-centricity. These new predictions highlight our view of the retail industry in the coming year.”
  • Wells Fargo Survey: 2015 Gains in Small Business Optimism Erased - “This has been an unusually slow economic recovery for everyone, and small business owners are certainly feeling that,” said Mark Vitner, Managing Director and Senior Economist for Wells Fargo Securities. “With the economy growing as slowly as it has been, it’s been difficult for many business owners to increase their sales, and this has been particularly burdensome for firms who have seen expenses rise, including healthcare costs."

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 20, 2015

Headline News from PaymentsNews.com - November 20, 2015

What I'm Reading

  • This week your editor has been enjoying reading Sapiens: A Brief History of Humankind by Yuval Noah Harari.
  • Sapiens is a fascinating story about humanity on earth that I'm really enjoying reading. While not directly related to payments or fintech, it provides lots of insights into human behavior! From the description: "One hundred thousand years ago, at least six different species of humans inhabited Earth. Yet today there is only one—homo sapiens. What happened to the others? And what may happen to us?"
  • How about you? What are you reading? Drop me a quick note and tell me about it: editor@paymentsnews.com

On the Web

  • Introducing the Shift Card - Coinbase Blog - "The Shift Card is a VISA debit card that currently allows Coinbase users in twenty-four states in the U.S. to spend bitcoin online and offline at over 38 million merchants worldwide."
  • Fewer Digital Wallet Users Are Making Payments - eMarketer - "Digital wallet adoption is increasing in the US, but some common tasks such as making a payment or receiving money are actually becoming less common among users of such services, per September 2015 data."

On the Wires

  • Starwood Notifies Customers of Malware Intrusion - "Starwood Hotels & Resorts Worldwide, Inc. announced today that the point of sale systems of a limited number of its hotels in North America were infected with malware, enabling unauthorized parties to access payment card data of some customers."
  • Holiday Retail Sales Driven by Confident Shoppers with More to Spend and More to Buy, Synchrony Financial Study Finds - "Nearly half (47%) of those surveyed indicate they are more confident in their financial situation than last year (37%), and 48% plan to start their holiday shopping earlier this year. Improved finances and larger gift lists are cited as reasons that 32% of shoppers surveyed plan to spend more this season than last season, up from 21% in 2014. "
  • Wells Fargo Predicts Rise in Spending Heading into Black Friday - “Economic conditions and consumer confidence continue to improve as we head into the holiday shopping season,” said economist Michael Brown who co-authored the report with senior economist Eugenio Aleman, both part of Wells Fargo Securities Economics. “The National Retail Federation’s holiday spending survey found that the average holiday shopper is expected to spend 0.4 percent more per person than they did last year.”
  • Cardlytics Releases Holiday Consumer Spending Report - “As more consumers spend their holiday budgets closer to Christmas, the challenge for retailers is to engage shoppers at every opportunity,” said Dani Cushion, Chief Marketing Officer, Cardlytics. “Retailers should plan accordingly and adjust their strategy to offer variety in their deals, specifically targeted to each shopper profile throughout the holiday season.”
  • FIDO Authentication Poised for Continued Growth as Alliance Submits FIDO 2.0 Web API to W3C - "To carry this momentum into 2016, the FIDO Alliance today submitted to the World Wide Web Consortium (W3C), the international standards organization for the World Wide Web, a set of three technical specifications required to define a standard Web-based API designed to increase FIDO’s existing desktop, Chrome, Android and iOS reach to support other platforms."

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 05, 2015

Headline News from PaymentsNews.com - November 5, 2015

On the Web

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

On the Wires

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

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

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!

October 08, 2015

Headline News from PaymentsNews.com - October 8, 2015

On the Web

  • Apple Pay Will Soon Work at Starbucks - Re/code.net - "Apple Pay head Jennifer Bailey broke the news Thursday onstage at Code/Mobile at The Ritz-Carlton in Half Moon Bay, Calif."
  • Fast-tracking Merchant Payment Acceptance in India! - Sanjay Swamy - "Many people think the cost of signing up a merchant, the cost of the terminal and the Merchant Discount Rate are the reasons why the penetration is low — and while these are factors, they are not the real reason. The reality is many merchants who want to accept cards are just not allowed to, and those who are have to toil hard to do so."
  • Nigerian mobile money leader Paga is doubling down on building a payments giant - Quartz - "Now, its persistence seems to be paying off with the completion of $13 million in series B financing. It was backed by a raft of investors led by Adlevo Capital, with participation from Omidyar Network, Goodwell West Africa, Acumen Fund, and Capricorn Investment Group to grow the Paga mobile peer-to-peer platform."
  • On What Law Firms Can Do With the Blockchain - Bloomberg BNA - "As we finish up our series, it’s time to answer a question we’ve ignored up until now — what should law firms be doing to leverage these technologies and position themselves to be leaders in a blockchain dominated world?"

On the Wires

  • Mobile Contribution to Sub-Saharan African Economy Surpasses US$100 Billion, Finds New GSMA Study - “The mobile industry remains a key driver of economic growth and employment in Sub-Saharan Africa, making a vital contribution given the population growth and high unemployment levels seen in many countries in the region,” said Alex Sinclair, Acting Director General and Chief Technology Officer at the GSMA. “Despite revenue and margin pressures, local mobile operators continue to invest heavily to extend network coverage to serve unconnected communities and accelerate the migration to high-speed 3G/4G mobile broadband networks."
  • CardFlight Announces $4.2 Million Investment From Leading Payment Industry Executives and Venture Capital Funds - "We're excited to be adding investors with such deep experience growing and scaling startups in the payments industry," said Derek Webster, Founder and CEO of CardFlight. "This round of funding further validates CardFlight's leadership in mobile payments and will enable us to roll out even more advanced solutions in the months and years ahead."
  • Mozido and TabbedOut Partner to Improve Consumer Dining Experience - "The partnership will provide a full set of features to hospitality locations allowing their consumers an application to discover locations, join wait-lists, make reservations, order, split, pay, and leave feedback all from their mobile phones."
  • Diverse Consumers Overwhelmingly Optimistic About Financial Future - "When asked about personal finances, on average 60 percent of African American, Asian and Hispanic consumers said they expect their financial situation to be “somewhat” or “much” better a year from now, compared to 48 percent of the combined general population."

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 11, 2015

Headline News from PaymentsNews.com - September 11, 2015

On the Web:

  • Welcome to a new Google Wallet - Google Commerce Blog - "Today, we’re announcing a new Google Wallet app -- now focused exclusively on sending and receiving money. You can use Google Wallet with your Android or iOS device to send money to anyone in the US with an email address, even if they are not a Wallet user. And now, when you receive money through Google Wallet, you can quickly cash out to a debit card or linked bank account."
  • Online Bank Simple Ditches All Its Fees - TechCrunch - “This revenue model is a manifestation of our belief that you should have access to your money when you need it, without paying fees,” explains Simple co-founder and CEO Josh Reich.
  • A Venezuelan in Silicon Valley Finds a Niche in Finance - New York Times - "Both feel indebted to Meyer Malka, 41, a Venezuelan known as Micky. In 2012 he formed the venture capital firm Ribbit Capital here. Since then, he has become a rising force in Silicon Valley and one of the few Latin Americans to crack its upper echelon."
  • Visa Hires 1,000 Tech Professionals, Reduces Reliance on Outside Contractors - Wall St. Journal - "Visa Inc. is about halfway to hiring the 2,000 technology professionals it intends to add by 2017, a goal set a year ago as the company works to improve and expand its digital financial services."
  • Tencent’s WeChat App to Offer Personal Loans in Minutes - Wall St. Journal - "The new WeChat feature called Weilidai -- which literally means “a tiny bit of loan”—allows users to borrow up to 200,000 yuan ($31,350) without guarantee or collateral."
  • Fundbox Secures $50 Million More To Power Small Businesses - TechCrunch - "For small businesses that run on invoices, Fundbox issues loans in the exact amount of each invoice so that business owners don’t have to wait the 30, 60 or 90 days it typically takes to get paid."

On the Wires:

  • Abra Closes Series A Financing; Has Raised over $14 Million to Date to Disrupt the Global Money Transfer Market - RRE Ventures Managing Partner and Abra Co-Founder Jim Robinson is particularly excited about the potential of Abra to disrupt the global money transfer market. “As early proponents of Blockchain technology, we believe that Abra is one of the companies that’s fully leveraging the potential of the technology by reducing friction in financial services. It’s not about Bitcoin for the sake of Bitcoin – it’s about how the technology can solve problems for consumers worldwide, even if they don’t know what the Blockchain is.”
  • Android Pay™ Available for Wells Fargo Customers - “Today, we’re pleased to participate in Android Pay, increasing the availability of mobile payments to millions of Android device-loving Wells Fargo customers. This represents the latest offering in our commitment to give customers new, innovative ways to pay safely and easily, how and where they want,” said Jim Smith, head of Virtual Channels for Wells Fargo.
  • U.S. Bank and Elavon Customers Can Make and Accept Payments with Android Devices - “Adding Android Pay as a mobile payment option for our cardmembers and merchant customers is one more way we make it convenient for our customers to do business with U.S. Bank and Elavon,” said Dominic Venturo, chief innovation officer at U.S. Bank. “Android Pay aligns with our commitment to innovation that leads to better experiences for our customers.”
  • Regions Debit, Credit and Now Cards Are Available for Use with Android Pay - “Regions was one of the first banks in the nation to be announced as a participant in this service. This is another step forward in enabling our customers to manage their finances when and where they choose,” said Scott Peters, head of Regions Consumer Services.
  • Payment-Banking-Telecommunications: Trends and Challenges for the Years Ahead - "Companies from the banking sector are now capable of offering digital transactions and payments, and have as such completely flattened the payment, banks and telecommunications landscape, leaving them to be reshaped from the ground up."

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

July 28, 2015

Headline News from PaymentsNews.com - July 28, 2015

On the Web:

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

On the Wires:

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

July 23, 2015

Headline News from PaymentsNews.com - July 23, 2015

On the Web:

On the Wires:

  • Wells Fargo Launches New Innovation Group - "Wells Fargo today announced the formation of a new Innovation Group, which will work in partnership with its major businesses to meet evolving customer needs and stay ahead of the shifting competitive landscape. Steve Ellis, who had served as the head of Wholesale Services, has been named the leader of the new group."
  • MasterCard Opens its Digital Security Lab to Customers - “The MasterCard DigiSec Lab represents our collective efforts to maximize product innovation and security investments,” said Ajay Bhalla, president of Enterprise Security Solutions at MasterCard. “While payments have never been safer, criminals have never been smarter. We’ve now opened the lab to our customers as part of an ongoing commitment to share insights, solutions and best practices to deliver the highest levels of security.”
  • Citi Mobile Challenge Launches in Asia Pacific - "Citi Mobile Challenge is a next-generation accelerator that combines a virtual hackathon with an incubator, a worldwide network of FinTech experts and Citi’s unparalleled global sponsors and clients to discover solutions across more than 100 markets."
  • Chase and Southwest Airlines Renewal Cleared for Takeoff - “This extension reinforces our long-term commitment to collaborating on a program that delivers exceptional value and service to our shared customers,” said Eileen Serra, chief executive officer of Chase Card Services.
  • Uber Taps Its Global Payments Partner, Adyen, to Expand into Morocco - “Adyen continues to be a key strategic partner in addressing the many payments-related challenges of rapid international expansion,” said Meryem Belqziz, Uber Casablanca General Manager. “Their transparent philosophy, data-driven approach, and technical agility have made the partnership a natural fit.”
  • Visa Inc. Reports Fiscal Third Quarter 2015 Earnings Results - “We continue to deliver solid financial results and operating metrics without the help of an improving economic environment. Strong underlying fundamentals continue to offset the drag from geopolitical tension and the strengthening dollar on our business,” said Charlie Scharf, Chief Executive Officer of Visa Inc.

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

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

June 26, 2015

Headline News from PaymentsNews.com - June 26, 2015

On the Web:

  • Building a Safer Payment System - Speech by Federal Reserve Governor Jerome H. Powell - "Each of us has an important role to play in building a safer payment system. Given the payment system's complexity, it's important to keep in mind that we all need to work together when we innovate, prevent, plan, and educate."
  • Turmoil in Payments - Filene Blog - "To paint a picture of the shifting landscape, Filene completed more than two-dozen expert interviews, conducted a survey to gauge credit unions’ challenges around payments and what they’re doing about them, and examined existing literature."

On the Wires:

  • TSYS Research Reveals Canadian Consumers Prefer Credit Cards as Payment Choice - "The second annual research found that when given a choice, 46 percent of Canadian consumers prefer to pay using their credit cards more than any other payment method. That’s up from 34 percent in 2014. The recent online survey of more than 1,200 respondents, age 18 years and older, found that consumer preferences for using credit cards to shop online, combined with an overall increase in e-commerce, will likely cause a continued rise in credit use."
  • RentPayment Announces Plans to Report Rental Payment Information to TransUnion - "YapStone™ announced today that RentPayment, its online and mobile payment solution for the apartment rental industry, will now report rental payment information using TransUnion’s Resident Credit. The integration with ResidentCredit will offer a prompt, seamless reporting process for property managers and residents."
  • Wells Fargo Redesigns CEO Portal Services for Multiple Devices - “Over the last 15 years, we’ve seen dramatic changes in technology and the way our customers do business ― it’s not just through their desktops anymore,” said Steve Ellis, executive vice president and group head of Wholesale Services at Wells Fargo. “We’re continuing to invest in new technology to make banking easier and more secure for our customers who need to connect with many types of devices. We continually improve the CEO and release new features every quarter ― that’s 60 updates since its launch.”
  • Fintech Investment in U.S. Nearly Tripled in 2014, According to Report by Accenture and Partnership Fund for New York City - "The value of fintech investments in the United States soared to $9.89 billion in 2014, up from $3.39 billion in 2013. This 191 percent increase dwarfs the increase in 2013, when fintech deal values in the United States climbed 68 percent. In New York, fintech deal values grew by 32 percent in 2014, to a new high of $768 million."

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!

April 24, 2015

Headline News from PaymentsNews.com - April 24, 2015

On the Web:

  • The Death of Cash - Bloomberg Business - "Pause for a second and marvel at how strange this is. Banks have always paid interest to depositors. We’ve entered a new era of surplus in which banks—some, anyway—are deigning to accept money only if customers are willing to pay for the privilege."

On the Wires:

  • New Brand Campaign: Wells Fargo Celebrates Why We Work - “By recognizing and appreciating people’s hard work, and, importantly, why they do it, we are showing them we understand their desires and needs. We believe their ability to see that in us is fundamental to customers welcoming Wells Fargo to help them succeed financially,” said Jamie Moldafsky, Wells Fargo’s Chief Marketing Officer. “Caring is core to who we are at Wells Fargo, a belief that very much influenced our approach to this campaign.”
  • Fidelity Mobile® for Apple Watch™ Lets Investors Track Markets with a Twist of the Wrist - “Fidelity’s goal is to consistently provide customers with innovative ways to stay connected to the market and their investments anytime, anywhere,” said Richard Blunck, executive vice president of digital distribution at Fidelity. “The elegant and innovative design of the Apple Watch, coupled with Fidelity's app, will provide investors with fluid access to financial information on the go.”
  • Charles Schwab Introduces Apple Watch App and Unveils Enhanced Mobile Experience - “Our clients are passionate about the markets and they want to take advantage of the latest innovations in mobile technology to stay connected nearly every waking hour. This exciting new era of wearable technology elegantly extends Schwab’s powerful mobile capabilities to the Apple Watch, giving investors the unprecedented ability to literally bring the markets with them wherever they go1,” said Diane Russell, Senior Vice President of Platform and Product Management at Charles Schwab.

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!

April 22, 2015

Headline News from PaymentsNews.com - April 22, 2015

On the Web:

On the Wires:

  • eBay Inc. Reports First Quarter Results - "We had a strong first quarter, with eBay and PayPal off to a good start for the full year," said eBay Inc. President and CEO John Donahoe. "I feel very good about the performance of our teams at eBay and PayPal. Each business is executing well with greater focus and operating discipline as we prepare to separate eBay and PayPal into independent publicly traded companies. We are moving forward with clarity and speed, with a smooth separation expected in the third quarter. We are deeply committed to setting up eBay and PayPal to succeed and to deliver sustainable value to our shareholders."
  • NACHA Announces 2015 Payments System Awards Recipients - “NACHA is proud to recognize New York City CPRS, Verifone and Wells Fargo as recipients of the 2015 Payments System Awards,” said Janet O. Estep, president and CEO of NACHA. “They each have contributed significantly to leadership and excellence in payments by finding innovative ways to evolve their processes and products to meet the needs of a changing industry.”
  • First Data and Sam’s Club Collaborate to Fuel Small Business Growth - “With this expanded agreement, First Data is making a significant commitment to millions of Sam’s Club members who currently operate or are looking to open a business in the U.S.,” said Chris Foskett, Head of Global, Strategic and National Accounts at First Data. “Extending this relationship with Sam’s Club gives us the opportunity to enable more business owners and operators to achieve their dreams.”
  • Wells Fargo Startup Accelerator Taps 3 New Early-Stage Companies - “If a startup can sell its idea to us,” said Steve Ellis, Wells Fargo head of Wholesale Services, “they can sell it to a lot of other banks, which can benefit the entire financial services industry.”
  • OTG and NCR Introduce Tech-enhanced Airport Shopping Experience - “NCR’s consumer transaction technologies enable us to offer our customers more control over their experience,” said OTG CEO Rick Blatstein. “We continue to introduce technologies that our customers are familiar with, such as self-checkout and mobile payment options like Apple Pay, which allow our crew members to spend more time on hospitality.”
  • Open Identity Exchange Launches OIXnet: A Global Registry for Trust Frameworks - “Trusted transactions are the engines of online services,” said Don Thibeau, OIX Chairman and President. “Like an Underwriter Lab’s seal of approval on products, OIXnet is a neutral, open online registry that enables a similar level of trust and discovery at Internet scale for a wide variety of trust frameworks.”
  • Green Dot Awarded New Mobile Patent, Expanding its Patent Library Related to Secure and Geo-Location-Aware Devices - "Green Dot Corporation today announced the issuance of U.S. Patent No. 8,989,778, a patent that is directed to secure and private location sharing for location-aware mobile communication devices."

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!

April 14, 2015

Headline News from PaymentsNews.com - April 14, 2015

On the Web:

On the Wires:

  • JPMorgan Chase Reports First-Quarter 2015 Net Income of $5.9 Billion - Jamie Dimon concluded: “JPMorgan Chase continues to support consumers, businesses and communities and make a significant positive impact. We have an outstanding franchise which is getting safer and stronger, and is gaining market share over time. We continue to build the company for the long-term, we are investing in controls, infrastructure, systems, technology, new products and bankers. We will continue to navigate challenges and deliver for our clients, shareholders and communities.”
  • Wells Fargo Reports $5.8 Billion in Net Income - “Our solid first quarter results again reflected the benefit of our diversified business model and the continued focus of our 266,000 team members on serving the needs of consumer and business customers," said Chairman and CEO John Stumpf. “We continued to strengthen our customer relationships in the quarter, as reflected in strong growth in deposits and primary checking customers. In addition, our mortgage business was able to serve more customers by refinancing their mortgage loans with lower rates."
  • Early Warning and BioCatch Align to Help U.S. Financial Services Organizations Fight Fraud and Improve Digital Experience - “Early Warning has taken yet another fundamental and unparalleled step in securing and optimizing digital financial transactions,” said Paul Finch, CEO of Early Warning. “Integrating BioCatch’s behavior analytics, plus our ability to authenticate consumers and their devices via the Mobile Network Operators, enables participating banks to provide a more seamless and secure digital experience for their customers as well as increase their own operational efficiencies.”
  • U.S. Bank Introduces Virtual Payment for Travel Intermediaries - “Automatic reconciliation is critical to our partnership with travel intermediaries,” adds Jeff Rankin, U.S. Bank global executive for Large Market and Public Sector Bankcard. “Our single-use account solution provides an alternative to central travel accounts, creating a 1:1 relationship between the booking data and the transaction data and reducing overhead. We are pleased to bring these capabilities to our clients and see their businesses grow as they serve their global customers in new and better ways.”
  • Synchrony Financial and Guitar Center to Introduce New Consumer Financing Program - "According to Synchrony Financial’s third annual Major Purchase Consumer Study, 72 percent of music shoppers always seek promotional financing, and 77 percent of respondents said that the availability of financing is “very important” when choosing a retailer. Musical instruments and gear also lead online purchases across the 12 categories included in the study."
  • New TNS Card Scheme Gateway Set to Accelerate UnionPay Acceptance Worldwide - Lisa Shipley, Executive Vice President and Managing Director of TNS’ PaymentNetwork Solutions, said: “We’re delighted to have secured this arrangement with UnionPay to establish this gateway to promote in-store card acceptance internationally. UnionPay is a significant player within the card industry globally and merchants and banks have long recognized the importance of being able to accept payments made via its card."
  • Kofax and Blackhawk Network Announce OEM Agreement - "Blackhawk Network has developed strong relationships with major retailers and payment systems which gives it a competitive edge in supporting digital wallets," stated Drew Hyatt, Senior Vice President of Mobile Capture Applications at Kofax. "Kofax Mobile Capture adds valuable user functionality to GoWallet and to Blackhawk Network’s digital platform, and benefits Kofax by adding Blackhawk to our growing list of mobile industry leaders.”

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!

March 23, 2015

Headline News from PaymentsNews.com - March 23, 2015

On the Web:

On the Wires:

  • Square Cash is Open for Business - "So we’re excited to announce today that Square Cash is now available for businesses everywhere in the U.S. We deposit payments directly into your bank account (as opposed to a holding account), and offer an aggressive and affordable professional rate of only 1.5%."
  • Western Union and Hyperwallet Forge Strategic Alliance to Address the Global Mass Payments Market - “By integrating our payments ecosystem with Hyperwallet’s platform, we have enabled a mass payment product that will help change how global payments are made today, while helping meet the rigorous compliance demands faced when making global payments.”
  • New Version of RelayAccount Helps Simplify Collection of Patient Payment - “Helping providers clearly track a patient’s financial obligations and enable automated collections on payment plans are becoming two business-critical capabilities in today’s healthcare market,” said Matt Larsen, vice president of Innovation, RelayHealth Financial.
  • Wells Fargo Offers Spanish Language Mobile Banking Experience - "Our convenient and award-winning mobile banking app now offers Spanish-speaking customers the option of tailoring an in-language experience to best suit their needs,” said Brett Pitts, head of Digital for Wells Fargo Virtual Channels. “We’re proud that we continue to make improvements to our digital banking products that allow more customers to take advantage of the convenience and security of mobile banking in their preferred language.”

Glenbrook's 2015 Payments Education Update!

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 05, 2015

Headline News from PaymentsNews.com - February 5, 2015

On the Web:

On the Wires:

Glenbrook's 2015 Payments Education Schedule Now Available!

Updates from Glenbrook:

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

February 04, 2015

Headline News from PaymentsNews.com - February 4, 2015

On the Web:

On the Wires:

  • Wells Fargo Customers Can Now Redeem Credit Card Rewards at ATMs - “Customers live their lives on-the-go and being able to conveniently and simply access their accounts and rewards when and how they want is important,” said Alicia Moore, head of Wells Fargo ATM Banking. “We are always looking for ways to add innovative features and benefits to our ATM network, which gives customers access to their money and accounts 24 hours a day, 365 days a year. By providing customers the ability to redeem rewards for cash or account credit directly at the ATM, we’ve made it more convenient for them to feel truly rewarded for doing business with Wells Fargo.”
  • Consumers Can Now Use Their BECU, Fifth Third, First Niagra and Hungtington MasterCard with Apple Pay - "MasterCard cardholders with a consumer credit or debit card from BECU, Fifth Third, First Niagara and Huntington National Bank now have access to easier, more secure everyday payments through Apple Pay."
  • First Tech Federal Credit Union Selects MasterCard for Member Payment Solutions - “MasterCard offers our members the very best in card payment solutions that will enable them to better manage their financial transactions with First Tech while also providing additional security,” said Greg Mitchell, chief executive officer of First Tech Federal Credit Union.
  • First Data Receives Data Security Approval from UK Information Commissioner’s Office - “We are committed to setting the industry standard for superior data privacy protection,” said Cindy Armine-Klein, Chief Control Officer at First Data. “By conforming to the strict data privacy standards set forth by the EU, we can offer our clients the peace of mind that comes with knowing they have a trusted partner managing their data.”
  • Four More PSCU Credit Unions Enable Members to Use Apple Pay - "PSCU announced today that Visa cardholders with consumer debit and credit cards from Altra Federal Credit Union (Onalaska, WI), Andrews Federal Credit Union (Suitland, MD), and Wescom Credit Union (Pasadena, CA); and members with credit cards from BECU (Tukwila, WA) now have access to Apple Pay..."
  • Remitly Expands to India - "Remitly’s coverage in India spans a network of over 120 banks and their branches. Instant direct deposit is available for many banks year-round, 24/7, including ICICI, Yes Bank, and PNB. Four-hour deposit is available during regular Indian banking hours for all other banks."

Glenbrook's 2015 Payments Education Schedule Now Available!

Updates from Glenbrook:

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

December 02, 2014

Headline News from PaymentsNews.com - December 2, 2014

On the Web:

On the Wires:

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

Updates from Glenbrook:

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

November 20, 2014

Headline News from PaymentsNews.com - November 20, 2014

On the Web:

  • Square Register App Now Available Worldwide - Square Blog - "Our free point-of-sale app, Square Register, is now available worldwide."
  • Why banks fear Bitcoin - Fortune - "In the case of Bitcoin, what is being enabled here is not merely a new market, but a market of markets; a platform for all kinds of new markets to emerge. In it, lies the promise of a transformation, as strange as it sounds, greater than the Internet."
  • Apple Is Coming To The Aid Of Small Retailers - TechCrunch - "With Apple Pay, the biggest hurdle – getting the customer to enter their card details into the app – has vanished and the onboarding process got so much easier. This is encouraging for small businesses, and this is not all that Apple has done to help them."
  • How Apple Pay stacks up against the retailers’ competing payment system - Quartz - "We’ll know soon if this battle is won before it’s even fought."
  • The Secret Life of Passwords - New York Times - "Many people use the same password for multiple accounts, and these passwords are typically personalized."

On the Wires:

  • Stratos: 30% of US Smartphone Owners to Use Apple Pay and Google Wallet during the Holidays - “Our research shows that while American smartphone users would like to use their smartphones to pay for gifts at department stores, they are less likely to want to use the same system to pay at a hotel, upscale restaurant, or a bar. Our findings show that Americans are more comfortable paying with their cards. We are excited to deliver connected cards to further improve the consumer in-store mobile payment experience - increasing spending using a familiar, universal accepted, dynamic card.”
  • BlueSnap Taps First Data for Payments Processing Around the World - "BlueSnap is an innovative company with a deep understanding of eCommerce and mobile payments," said Guy Chiarello, First Data president. "BlueSnap makes it easy for merchants to sell online with no additional development, and First Data makes payment transactions secure, fast and easy with the goal of helping our clients grow their business no matter their size or geography."
  • TSYS and linked2pay Offer Omni Payments for Merchants - "Large and small merchants across a variety of industries can deploy this payment option easily and quickly," said Chris McNulty, group executive of Sales, Business Development, & Client Relations, TSYS Merchant Solutions. "By bringing credit cards and ACH together seamlessly, our merchants can lower costs and decrease the number of paper checks they accept."
  • Merchant Advisory Group Joins X.9 Standards Organization - “We look forward to representing many facets of the U.S. merchant community within the X.9 standards group where we will have a true seat at the table to vote on the adoption of standards, which is something the merchant community lacks with other payments-focused groups.”
  • PayStand Streamlines Online Payments, Offers e-Check as Simple, Fixed Cost Alternative to Credit Card - "To initiate the new e-Check option for payment, users enter their bank login and password. Transaction fees are fixed, and start at 25 cents."
  • PayPal: Merchants Should Think Global This Holiday Season; Cross-Border Shoppers Out-Spend Domestic Shoppers by Double - “By identifying trade opportunities around the world, our research findings can help merchants tap into the expanding global marketplace,” said Anuj Nayar, senior director of global initiatives for PayPal. “In addition to research, we are also actively providing our merchants with tools such as PayPal PassPort and selling opportunities such as our China Singles Day program, to help them attract more business overseas.”
  • Wells Fargo Survey: Affluent Women ‘Enjoy’ Making Money - "A strong majority (93%) of affluent women “enjoy making and accumulating money” and more than half (53%) believe that money helps buy happiness, according to a new Wells Fargo survey of affluent women. Women have a strong sense of pride in earning money with 85% of them saying they feel proud about their earning power."

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 27, 2014

Headline News from PaymentsNews.com - October 27, 2014

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!

October 20, 2014

Headline News from PaymentsNews.com - October 20, 2014

On the Web:

  • Apple Store app updated with Apple Pay support - iMore.com - "You can use Apple Pay both when ordering online, as well as when checking out at an Apple Store with EasyPay."
  • OpenTable adds Apple Pay support for iPhone in three US cities - iMore.com - "OpenTable, the popular restauant reservation service, has updated its iPhone app that adds Apple Pay support..."
  • Bank of England payment system crashes - Guardian - The Bank of England said it had “identified a technical issue related to some routine maintenance of the RTGS payment system and has paused settlement while we resolve it”.
  • Apple Pay Rolls Out, With Holes in System - Wall St. Journal - "Many retailers—including the nation’s largest, Wal-Mart Stores Inc. —aren’t part of Apple’s network. Only a minority have machines capable of reading the near-field communication radio signal that makes Apple Pay work."
  • Apple Pay Faces Lighter Compliance Than Paypal, Google - WSJ Risk and Compliance Journal - “If the device maker does not accept and transmit value, and just transmits encrypted card information that is used by the regular payment system to process the payment among regular participants, it wouldn’t be a money transmitter...”
  • Recurly Raises $12M To Chart the Future of Recurring Billing - Recurly Blog - "We are excited about bringing on a new set of world-class investors - Devonshire Partners and Greycroft Partners - who will add to our existing bench comprised of Polaris Partners, e.ventures, Harrison Metal and Freestyle.vc."

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!

October 15, 2014

Headline News from PaymentsNews.com - October 15, 2014

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!

October 03, 2014

Headline News from PaymentsNews - October 3, 2014

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!

October 02, 2014

Headline News from Payments News - October 2, 2014

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!

August 20, 2014

Headline News from PaymentsNews.com - August 20, 2014

On the Web:

  • Introducing the Uber API - Uber Blog - "As of today, we officially open—to all developers—access to many of the primitives that power Uber’s magical experience. Apps can pass a destination address to the Uber app, display pickup times, provide fare estimates, access trip history and more."
  • Uber Launches An Open API With 11 Partners, Including OpenTable, TripAdvisor, and United Airlines - TechCrunch - "That means any app that can send a destination address to Uber will be able to display pickup times and fare estimates without users having to leave their apps. For a small set of select partners, Uber will also allow users to request a car without having to open its own app."
  • A Chain Funding Update - Chain Blog - "Today, we’re pleased to announce that Chain has closed a $9.5M round of funding led by Khosla Ventures, who are joined by return backers RRE Ventures, Thrive Capital, and SV Angel."
  • UPS Investigating Possible Security Breach - New York Times BITS Blog - "UPS hired an information security firm and discovered that the malware was on its in-store cash register systems at 51 of its locations in 24 states, roughly 1 percent of UPS’s 4,470 franchises throughout the United States."
  • Wells Fargo Launches Accelerator To Promote Innovation In Financial Services - TechCrunch - "Sahni said the company had informally been running an accelerator-like program for years, looking out for smaller companies and helping them prepare for “prime time.” Now the bank is making it official so that it can give these startups exposure and guidance from across the company."
  • First Data, a Payment Processing Giant, Looks Beyond the Swipe - StreetFight - "Senior Vice President of First Data Ventures Peter Donat said the partnership will allow First Data to improve its analytics platform, which uses sales information to create actionable solutions for small to midsized businesses."
  • This is how PayPal will take over your phone - VentureBeat - "Braintree’s new SDK, combined with this new payment feature, has the potential to make PayPal the go-to payments destination for mobile consumers and developers alike."
  • Forget Passwords. Now Banks Can Track Your Typing Behavior On Phones - Forbes - “We’re monitoring the small stuff,” says Neil Costigan, founder of Behaviosec, the Swedish security startup behind the recent roll-out. “The flight between the keys, which corners of the keys you tend to hit, where you pause."

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!

May 21, 2014

Headline News from PaymentsNews.com - May 21, 2014

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!

May 06, 2014

Headline News from PaymentsNews.com - May 6, 2014

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!

May 01, 2014

Headline News from PaymentsNews.com - May 1, 2014

On the Web:

  • Merchants and Billers: Leverage = Options x Time! - PaymentsViews.com (Jay DeWitt) - "The solution to these situations simple: figure out when your acquirer contract expires, and get it on your planning calendar so you’re teed up to begin negotiations 6-12 months before contract term."
  • In Bitcoin Debate, Larry Summers Sides with the History of Change - Wall St. Journal Moneybeat - "To Mr. Summers, the potential contained in bitcoin’s breakthrough technology, with its fast, low-cost system for confirming transactions, is demonstrated by problems with the current multi-layered system for domestic and global fund transfers."
  • Payment Innovation Is Not Enough For Retail - TechCrunch (Dax Desilva) - "Commerce is all about bringing the right product to the right shopper at the right time, but the payment only addresses the close. To differentiate, merchants need to focus on innovating everything else that happens long before we reach the register..."
  • The death of cash? Debit card use surges - Telegraph (UK) - "Plastic and automated payments are now the most popular method of payment by both volume and size of transactions, according to current account data published by Halifax."
  • HCE vs. BLE: Which has the bigger in-store potential? - Mobile Commerce Daily - "While both NFC and BLE are likely to bring some important innovations to the in-store experience, they also have their limitations."
  • EMV is Not a Panacea for Transaction Security - Verifone Blog (Jeff Wakefield) - "Yes, EMV is more secure than mag-stripe technology, and when fully rolled out it will do a good job of reducing card fraud. But until mag-stripes are eliminated from cards; mag-stripe readers are no longer in use, and until merchants completely eliminate usable data from their environments, EMV will remain a “better option,” but it won’t prevent the theft of cardholder entirely."
  • ‘Dark Wallet’ Is About to Make Bitcoin Money Laundering Easier Than Ever - Wired - "On Thursday, a collective of politically radical coders that calls itself unSystem plans to release the first version of Dark Wallet: a bitcoin application designed to protect its users’ identities far more strongly..."

On the Wires:

  • Chase Launches Marriott Rewards Premier Visa Signature Business Credit Card for Small Business Owners On the Go - "Chase Card Services and Marriott Rewards® today announced the launch of the Marriott Rewards Premier Visa Signature® Business Credit Card designed for small business owners who travel frequently for business or pleasure. With the Marriott Rewards Premier Business Credit Card, small business owners have the ability to earn accelerated Marriott Reward points on all purchases, accumulate free night stays, and receive automatic Silver Elite Status once they become a cardholder."
  • MasterCard Incorporated Reports First-Quarter 2014 Financial Results - "The company reported net income of $870 million, up 14%, and earnings per diluted share of $0.73, up 18%, in each case versus the year-ago period."
  • Worldpay announces strategic acquisition of Cobre Bem Tecnologia - "Worldpay Group today announced that it has acquired Cobre Bem Tecnologia, a leading provider of payment solutions in Latin America, for an undisclosed amount. With this transaction, Worldpay’s eCommerce division will further strengthen its global reach, giving its customers access to a wide range of payment products in Brazil, Argentina, Colombia, Chile and Mexico."
  • Qualcomm Establishes Retail Solutions Subsidiary as Standalone Company -- Gimbal, Inc. - "The QRS team has made tremendous progress with the Gimbal technology platform and I am excited to continue leading this group as CEO of Gimbal, Inc.," said Rocco Fabiano, current president of QRS. "I am eager to continue working with this team under a new corporate structure that will permit the business to respond quickly to this rapidly evolving ecosystem."
  • Wells Fargo Commercial Cards Are Europe-Bound - "In a related announcement, Wells Fargo said all new USD WellsOne® Commercial Cards will be embedded with microprocessor chips defined by E.M.V. (Europay, MasterCard, and Visa) standards. In addition, Wells Fargo has begun migrating all of its existing cardholders over in advance of the October 2015 deadline in the United States."
  • Wells Fargo Launches Wells Fargo Works for Small BusinessSM - "Wells Fargo Works for Small Business provides wide-ranging support for business owners throughout the U.S. to help them build knowledge, access capital and expand their community of support. Wells Fargo Works for Small Business encompasses the company’s commitment to helping small businesses grow."

Updates from Glenbrook:

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

April 29, 2014

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