Headline News from PaymentsNews.com – August 7, 2017

Written by Payments News Editor on August 7th, 2017. Posted in Uncategorized

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


  • Despite S.E.C. Warning, Wave of Initial Coin Offerings Grows - New York Times DealBook - "The agency said that it would focus on coins that should be categorized as securities. People selling securities to American investors are generally required to register themselves and their investments with the securities regulator. So far, almost none of the coins being sold to investors have been registered with regulators."
  • People’s Bank of China Has Fintech on Its Mind - Wall Street Journal (Paywall) - "The People’s Bank of China said in a report that it is considering expanding its risk-assessment system beyond banks to include major online financial businesses. Last month, it reached agreement with 45 nonbank financial firms—including payment systems affiliated with internet giants Alibaba Group Holdings Ltd. and Tencent Holdings Ltd.—on joining a new payment-clearing platform called Wanglian, according to listed-company documents."
  • Venmo rolls out QR codes for user profiles in its mobile app - TechCrunch - "Though a somewhat minor addition, the launch of QR codes goes a long way to make it faster to add friends on Venmo – something that’s a particular challenge when you’re looking for a friend who has a common name, when you don’t know a friend’s contact information, or whose Venmo handle (their @username) isn’t easy to guess."
  • First Data and Fleetcor Technologies Scuttle Their Planned Prepaid Pair-Up - Digital Transactions News - "Citing possible regulatory hurdles, payment processor First Data Corp. and commercial payments provider Fleetcor Technologies Inc. disclosed Thursday that they have canceled the planned joint venture they announced in March to consolidate their gift card businesses."
  • The Accounting Tack That Makes PayPal’s Numbers Look So Good - New York Times (Paywall) - "Naturally, many factors contributed to PayPal’s second-quarter earnings. But one element stands out: the amount the company dispensed to employees in the form of stock-based compensation."
  • Study: Most mobile app users hesitant to give info when signing up - Mobile Payments Today - "Nearly 90 percent of respondents said security of personal information shared during the app onboarding process is somewhat to very important, according to a press release."
  • Beyond the boring blockchain bubble - TechCrunch - "And hey, if you want to speculate, and casinos seem too sedate and controlled to you, then more power to you, jump right in. But for those of us who are interested in the technology, not the money — who think that blockchains are primarily interesting because, unlike most modern technology, they decentralize power — so far this has actually been a mostly disheartening year."
  • Bitcoin Is Now Worth Nearly 3 Times More Than an Ounce of Gold - Coindesk - "More than five months after bitcoin and gold prices hit parity, bitcoin is now worth nearly three times as much as the more traditional store of value. The price of bitcoin reached a new high above $3,400 during today's session, a figure that was more than $2,000 above the price of gold. At press time, the precious metal was trading for $1,257 according to a spot exchange rate provided by Bloomberg."


  • Western Union Digital Expands: Online Money Transfers now live in Kuwait - "The Western Union Company (NYSE:WU), a leader in global payment and money transfer services, today announced the launch of new WU.com transactional web site in Kuwait. With the launch of Kuwait, Western Union now has online transactional services in 41 countries, enabling consumers in those countries to send money digitally to more than 200 countries and territories."


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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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