Headline News from PaymentsNews.com – August 14, 2017

Written by Payments News Editor on August 14th, 2017. Posted in Uncategorized

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

ON THE WEB

  • The NRF Expects Eight in 10 Small Retailers To Have EMV Terminals by Year’s End - Digital Transactions News - "Smaller retailers haven’t yet closed the EMV-acceptance gap with big ones, but they are making progress on installing EMV chip card readers at the point of sale, according to findings from a recent survey for the National Retail Federation. "
  • How Mastercard Is Targeting Millennials - Wall Street Journal (Paywall) - "Mastercard has set its sights on millennials. Martina Hund-Mejean, Mastercard Inc.’s chief financial officer, says the company is positioning itself to take advantage of a shift toward greater use of credit cards by millennials as they become more confident about managing credit and debt."
  • WhatsApp beta shows early signs of UPI based payments integration - techradar - "Since demonetization, digital payments have been gaining more and more importance in India. Popular apps like Hike Messenger and Truecaller had recently introduced digital payments on their platforms. Now, Facebook owned WhatsApp is soon going to launch UPI based payments in its app. UPI stands for Unified Payments Interface and it has been developed by National Payments Corporation of India (NPCI)."
  • OCIE Publishes Risk Alert Summarizing Observations from Recent Cybersecurity Examinations - Bryan Cave blog - "Despite maintaining robust policies and procedures, the majority of the firms examined came up short when it came to preparedness for responding to a data breach. In particular, less than two-thirds of the advisers and investment companies examined had a defined plan for responding to a data breach and notifying clients. "
  • Barclaycard pilots Alipay payments in eight retail stores across UK - Banking Technology - "Barclaycard is launching a pilot that enables merchants in the UK to accept in-store Alipay transactions. The pilot will commence on 14 August 2017 in eight retail stores across the UK, with Barclaycard providing the POS solution for payments via Alipay."
  • LaterPay brings its media payment technology to the US - TechCrunch - "LaterPay, meanwhile, is supposed to make the payment process as frictionless as possible. Users don’t even have to enter any payment information when they buy their first piece of content — they don’t have to make a purchase at all until their bill reaches $5. As a result, the company says that 78 percent of article purchases made through the LaterPay platform take 10 seconds or less."
  • SEPA instant payments threaten card schemes in Europe - Cards International - "Real time payments are already live in some domestic markets, and from November 2017, SEPA instant payments will be available across Europe. This cross border payments facility comes as a challenge to card schemes, as it represents the creation of a pan-European alternative to cards."
  • UnionPay International Collaborates with the Largest Commercial Bank in Kenya to Enhance Payment Innovation - Payments Afrika - "UnionPay International announced that it has deepened its cooperation with Kenya Commercial Bank (KCB), the largest bank in Kenya. First, the two will jointly issue the first UnionPay card with the mobile QuickPass function in Kenya this month, supporting the upgrade of the local payment industry through product enhancement. Second, with the official website of Kenya Airways supporting UnionPay Online Payment, hundreds of online merchants will be enabled to accept UnionPay by next January."
  • M-Pesa founder shares lessons learned from ten years of mobile money - NFC World - "“There are three key lessons we have learned,” Joseph says. “First, a supportive regulatory framework for enabling payments is essential in any market where you plan to launch services. Second, the service itself needs to be reliable, simple and accessible, delivered through a well-trained, widespread agent distribution network. Finally — and perhaps most importantly of all — for your service to be adopted, your customers need to trust your brand with their money."
  • AWS CloudHSM Update – Cost Effective Hardware Key Management at Cloud Scale for Sensitive & Regulated Workloads - Amazon Web Services blog - "Today, building on what we have learned from our first-generation product, we are making a major update to CloudHSM, with a set of improvements designed to make the benefits of hardware-based key management available to a much wider audience while reducing the need for specialized operating expertise. "
  • PAYABLE IS A BILLION RUPEE STARTUP AND GROWING - Readme.lk - "Incubated out of Ceylon Business Appliances Ltd (CBA), PAYable is a free mobile app for both iOS and Android that works with a Bluetooth card reader, thus enabling merchants and vendors to accept credit and debit card payments from customers. This essentially turns that smartphone or tablet into a portable Point of Sales device."
  • Bitcoin just passed $4,000 - TechCrunch - "So what happens next? No one knows. Bitcoin could crash 50% to $2,000 tomorrow or spike to $5,000 – and I don’t think anyone who truly knows crypto would be surprised at either option. Everyone has a different opinion – some say the bubble is oversized and should have popped months ago – others think that bitcoin is currently just a fraction of what it could eventually trade at."

ON THE WIRES

  • PULSE Study: Debit Fraud Loss Rates Decline After Chip Cards Introduced - "According to the 2017 Debit Issuer Study, commissioned by PULSE, one of the nation’s leading debit/ATM networks, U.S. financial institutions substantially increased issuance of chip debit cards in 2016 and experienced reduced fraud losses. Since the fraud liability shift for most debit transactions took effect in 2015, an estimated 80 percent of U.S. debit cards have been converted to chip cards. The study also found that fraud loss rates dropped by approximately 28 percent in 2016 compared to 2015 levels."
  • ALDI Delivers to Your Door With New Instacart Partnership - "ALDI products for delivery in as little as one hour. Starting later this month, ALDI will launch the service in Atlanta, Dallas and Los Angeles, with potential for future expansion."

GLENBROOK PAYMENTS EDUCATION EVENTS

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  • Payments Boot Camp, October 3-4, 2017, San Jose, CA, Logistics
  • Payments Boot Camp, October 17-18, 2017, NYC, NY, Logistics
  • Payments Boot Camp, December 5-6, 2017, Palo Alto, CA, Logistics
  • Global Payments, October 5, 2017, San Jose, CA, Logistics
  • Digital Payments, October 19, 2017, NYC, NY, Logistics
  • Innovation in Payments, December 7, 2017, Palo Alto, CA, Logistics
  • For more, click here. We hope to see you soon!

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    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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