ON THE WEB
- How will Brexit Impact Banks and Fintech in the UK? - The Innovation Blog (Simon Taylor) - "We need a good Brexit, Brexit light and we need to solve the real challenges banks face. Call me an optimist, but I think we can."
- Kroger Sues Visa Over Pin Debit Transactions - Wall St. Journal - "Kroger Co. filed a lawsuit against Visa Inc., saying the payments network has threatened to raise fees and cut off the grocer’s acceptance of debit cards..."
- ‘Brexit’ Leaves Europe’s Fintech Firms in the Lurch - Wall St. Journal - "Europe’s financial-technology upstarts are scrambling to figure out what the United Kingdom’s departure from the European Union and its digital payments rules means for their businesses..."
- Square Chases American Shoppers With Portland Marketing Blitz - Bloomberg - "Square chose Portland for the high concentration of merchants already using its technology and widespread antipathy to big-box retail chains."
- So Hey You Should Stop Using Texts for Two-Factor Authentication - Wired - “SMS is just not the best way to do this,” says security researcher and forensics expert Jonathan Zdziarski. “It’s depending on your mobile phone as a means of authentication [in a way] that can be socially engineered out of your control.”
- 50 years on: How credit cards changed our relationship with money - BBC News - "Fifty years ago this week Barclaycard issued the first credit cards in the UK."
- Paytm will assist Indian sellers to source products from China - TechPortal - "Paytm is leveraging its partnership with the Chinese giant Alibaba to help Indian sellers. It is planning a programme that will help Indian sellers to procure products from China at cheap rates."
ON THE WIRES
- MasterCard Commits to the Inclusion of 40 Million Micro and Small Merchants - “Real financial inclusion happens when people can use their new financial accounts to do what many of us take for granted,” said Ajay Banga, president and CEO of MasterCard. “Helping micro and small merchants connect to electronic payments will accelerate adoption and usage of new financial tools for the unbanked and will have a true impact on people’s daily lives.”
- Wells Fargo to Offer Real-Time P2P Payments to 17 Million Mobile Customers - "Beginning August 1, Wells Fargo’s service will allow its customers to send funds in real-time at no cost to any customer of a bank that participates in the real-time service, which operates on Early Warning’s clearXchange™ network. Wells Fargo customers can already receive real-time payments at no cost from customers at any bank participating in the network."
- New FIDO Certified Bluetooth Solution for Secure Mobile Internet Usage - " Infineon Technologies AG today announced the first FIDO-certified Bluetooth low energy (BLE) reference design for wireless authentication tokens. By using such a token in addition to their password, consumers can conveniently and securely authenticate their online activities on mobile devices."
GLENBROOK PAYMENTS EDUCATION EVENTS
Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!
- Payments Boot Camp - Palo Alto - October 11-12
- Insight Workshop - Palo Alto - Data in Payments - October 13
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.
COMING UP IN ATLANTA ON FRIDAY, JULY 15
TAG FinTech presents: Lunch & Learn on Real Time Payments - After years of discussion, the notion of faster payments in the U.S. is rapidly becoming reality thanks to the efforts of the Federal Reserve's Payments Improvement Task Force and its participating firms. These new systems could fundamentally change how we think about person to person transfers as well as business payments. Of these efforts, The Clearing House's real-time payments initiative is among the furthest along and most ambitious. Get the details on its functionality, rollout and potential uses. Glenbrook's Elizabeth McQuerry is moderating the session.
UPDATES FROM GLENBROOK
- We're hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Click here to learn more!
- Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews
Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: firstname.lastname@example.org!