Headline News from PaymentsNews.com – August 4, 2017

Written by Payments News Editor on August 4th, 2017. Posted in Uncategorized

Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments consulting and education services to payments professionals worldwide!


  • Jack Dorsey wants Wall Street to know that Square Cash can be a real business - recode - "But in the second quarter, “more than a third of active Square Cash customers conducted a fee-based transaction,” the company said. Translation: Square generated some revenue from more than one out of three Square Cash users."
  • Photographer: Stefano Oppo/Getty Images Credit Card Rewards Are Playing Harder to Get - Bloomberg - "Citigroup Inc. just unveiled an updated version of its premium credit card, the Citi Prestige. The new card is made of metal—like its direct competitors, Chase Sapphire Reserve and American Express Platinum—and comes with attractive perks including free nights at hotels, an annual $250 air travel credit, and a sign-up bonus of 75,000 points, which, according to Citi, are worth $935 in air travel. There’s a catch, though..."
  • Italian consumers can now make P2P payments in stores - NFC World - "Jiffy, the P2P payments service that lets 4.2 million Italian consumers send money from their bank account using just the contacts list on their smartphone, has begun rolling out to retail stores with an initial launch in 150 outlets in the cities of Milan, Rome and Turin."
  • Just days after its harrowing user exodus, Coinbase has decided to add support for bitcoin cash by 2018 - Business Insider - "The cryptocurrency online exchange Coinbase has decided to support the new bitcoin cash, days after a user exodus temporarily brought its website to a halt."
  • Mastercard Eyes Cryptocurrency Refunds in New Patent Application - Coindesk - "The application details an infrastructure through which users could verify their identities, which would then be linked to cryptocurrency addresses they elect to disclose. The text of the application points to this being most relevant for situations in which users are submitting payments to merchants from accounts on exchanges, or other services, in which their funds may be held alongside those belonging to others."
  • iPhone 8 Facial Recognition Will Likely Work With Apple Pay According to HomePod Firmware - MacRumors - "While many are skeptical that Touch ID can be replaced by a facial recognition system that's equally secure, rumors have suggested Apple's facial recognition technique captures more data points than a fingerprint scan, making it more secure than Touch ID."
  • INSIDE PATREON, THE ECONOMIC ENGINE OF INTERNET CULTURE - The Verge - "Patreon is loosely modeled on the arts patronage system of the Renaissance, which produced masterworks like Michelangelo’s Sistine Chapel. It’s the latest turn in the never-ending cycle of ways people have funded “free” art, from federal grants to corporate sponsorships to, most recently, impression-based advertising. While Kickstarter revolutionized how people raise money for games, gadgets, and other products, Patreon is aiming for something far more ambitious: “We want to fund the creative class,” CEO and co-founder Jack Conte tells me."


  • New Feedback Card concept from ideas42 will simplify personal financial management - "After a simple two-minute on-boarding process, the budget will be accessible on the app. In a novel twist, it is designed to use secure near-field communications (NFC) technology from the smartphone app to display up-to-date information on the Feedback Card itself -- a functioning physical payment card. Tapping the card to your phone will sync it with your latest financial information. Pressing the button on the card will instantly display how much you have available to spend that day, week, or month -- putting the information at your fingertips at the moment you need to make a purchase."


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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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