Headline News from PaymentsNews.com – June 23, 2016

Written by Payments News Editor on June 23rd, 2016. Posted in Android Pay, Apple Pay, Bitcoin, China, Circle, Contactless Payments, Credit Cards, EMV, India, MasterCard, Mobile Payments, NCR, Payments News - Headline News, R3CEV, Walmart

Headline News is brought to you by RS Software. To learn more about why RS Software is the choice for leading payments companies around the world, click here!

ON THE WEB

  • RBI publishes “Payment and Settlement Systems in India: Vision-2018” - Reserve Bank of India - "The Reserve Bank of India has today placed on its website the “Payment and Settlement Systems in India: Vision-2018”. The Vision-2018 aims at building best of class payment and settlement systems for a ‘less-cash’ India. The broad contours of Vision-2018 revolve around 5 Cs – coverage, convenience, confidence, convergence and cost. To achieve these, Vision-2018 will focus on four strategic initiatives such as responsive regulation, robust infrastructure, effective supervision and customer centricity."
  • a16z Podcast: Fintech Revolution or Evolution? - A16Z - "The problem, observes Warzel — who is joined by a16z Partners Alex Rampell and Angela Strange in this episode of the a16z Podcast on all things fintech, payments, wallets, and more — is that the customers/consumers aren’t at the center of any of this."
  • Circle takes $60M to grow its social payments biz globally, as it steps into China - TechCrunch - "The round is led by existing investor and Beijing based VC IDG Capital Partners, along with Breyer Capital, General Catalyst Partners and what it dubs “a powerful syndicate of major strategic partners” in China, including Baidu, CICC Alpha, China Everbright, Wanxiang and CreditEase."
  • MasterCard plans to invest $800 m in India over the next 4 years - Hindu Business Line - "These investments will flow into processing, mobile technology and solutions and data analytics, said Porush Singh, Country Head for MasterCard in India."
  • Colu Raises $9.6 Million to Promote Blockchain-Based Local Currencies - CoinDesk - "The Series A round, backed by Aleph, Spark Capital, Digital Currency Group and former Thomson Reuters CEO Tom Glocer, follows a $2.5m seed round in early 2015..."
  • Toyota Financial Services Joins R3 Consortium - "Toyota Financial Services, the financial services subsidiary of the Toyota Motor Corporation, has joined banking consortium R3CEV, making it the first organization affiliated with a major automaker to take part in the cross-industry effort."
  • Number of EMV Chip Payment Cards in Global Circulation Increases to 4.8 Billion" - EMVco - "Global technical body EMVCo today reports sustained growth in the worldwide adoption of EMV chip technology. Official figures of aggregated data show that by the end of 2015, the number of EMV payment cards in global circulation increased, year on year, by 1.4 billion to 4.8 billion."

ON THE WIRES

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!

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

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!

Headline News from PaymentsNews.com – June 22, 2016

Written by Payments News Editor on June 22nd, 2016. Posted in American Express, Android Pay, Authentication, Biometrics, Bitcoin, Blockchain, Coin, Coinbase, Consumer Debt, Consumer Lending, Contactless Payments, EMV, India, Mobile Payments, Payments News - Headline News, PayPal, Ripple, Verifone, Visa, Wirecard

Headline News is brought to you by RS Software. To learn more about why RS Software is the choice for leading payments companies around the world, click here!

ON THE WEB

  • Goodbye, Password. Banks Opt to Scan Fingers and Faces Instead. - New York Times - "Some of the nation’s largest banks, acknowledging that traditional passwords are either too cumbersome or no longer secure, are increasingly using fingerprints, facial scans and other types of biometrics to safeguard accounts."
  • Hyperledger Project Adds 7 New Members - Hyperledger - "Hyperledger Project, a collaborative cross-industry effort created to advance blockchain technology, announced today that seven new members have joined to help create an open standard for distributed ledgers for a new generation of transactional applications."
  • Coinbase adds support for PayPal and Credit Cards - Coinbase Blog - "To start, we’re offering PayPal cash-out for US users only. In the future, we hope to add support for other countries, and to support buys through PayPal as well."
  • The Failure of Coin - Medium (Ben Einstein) - "When it comes to hardware startups, there are two types risk that are manageable on their own, but when combined often spell failure: technical risk and product risk."
  • India: Visa issues more than a million contactless cards - Economic Times - ""Contactless is the future of payments in India. Since its launch, Visa payWave has gained strong momentum and wide merchant acceptance."
  • Samsung Takes a Different Approach to Mobile Payments - Fortune - "“We’re a hardware company, and at the end of the day I think what we’re trying to do is get people who hold (one of) our phones and use it…to just love it more,” Elle Kim, global vice president of Samsung Pay, told Reuters in Sydney."
  • Microsoft brings mobile payments to that Windows 10 Mobile user - Inquirer - "Oddly, the service is available only on Windows 10 handsets in the US where contactless payments are not yet widely accepted, as opposed to in the UK where most retailers support the NFC-based service. "
  • Android Pay Prepares to Show a Map of Nearby Locations that Accept Payments - XDA Developers - "...Google has left some hints within the APK file of the latest update that point towards a new feature that will use your current location and pull up a map activity to show you nearby stores that accept Android Pay."
  • National Bank of Kazakhstan to Announce a List of Blockchain Projects Soon - NewsBTC - "It has been speculated that the Kazakhstan’s national bank might want to utilize the blockchain technology to improve inter-transactions between its branches, a project that sounds similar to the famous R3 global banking consortium. Another possible use case revolves around the use of distributed ledger technology for the implementation and tracking of Anti-Money Laundering (AML) and Know Your Customers (KYC) regulations among the banks."

ON THE WIRES

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!

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

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!

Headline News from PaymentsNews.com – June 21, 2016

Written by Payments News Editor on June 21st, 2016. Posted in Apple, Apple Pay, Bitcoin, Blockchain, Chargebacks, Credit Cards, EMV, Ethereum, MasterCard, Payments News - Headline News, Payments Views, PayPal, UK, Visa, Visa Europe

Headline News is brought to you by RS Software. To learn more about why RS Software is the choice for leading payments companies around the world, click here!

ON THE WEB

ON THE WIRES

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!

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

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!

Headline News from PaymentsNews.com – June 16, 2016

Written by Payments News Editor on June 16th, 2016. Posted in Apple, Apple Pay, Canada, Card Reward Programs, Chase Card Services, Credit Cards, EMV, Ingenico, JP Morgan Chase, Mobile Payments, Payments News - Headline News, Vending Payments, Visa, Walmart, Wells Fargo

Headline News is brought to you by RS Software. To learn more about why RS Software is the choice for leading payments companies around the world, click here!

ON THE WEB

  • Home Depot Files Antitrust Lawsuit Against Visa, MasterCard - Wall St. Journal -"This time, the do-it-yourself retailer also contends that Visa and MasterCard colluded to prevent the adoption of new chip-based cards that require consumers to enter a personal identification number, or PIN, to authorize a transaction."
  • Visa Defends Fees in Wal-Mart Canada Dispute - "In an advertisement to be published in Canadian newspapers on Thursday, the payments network said it is disappointed that Wal-Mart is threatening to stop accepting Visa at its stores."
  • Wells Fargo’s new credit card comes with mobile-enabled tracking - Mobile Commerce Daily - "Cash Track is a subset of Wells Fargo’s online banking, available exclusively to new credit card Cash Wise members, and allows customers to view rewards, set goals, track progress and view lifetime rewards on their mobile devices."

ON THE WIRES

  • Visa to Help Accelerate EMV Chip Migration and Support Merchants - "Visa has streamlined its testing requirements, amended and simplified the terminal certification process, and committed to investing further resources and technical expertise in a manner that can reduce timeframes by as much as 50 percent. Visa is also making policy changes to help limit exposure to counterfeit fraud liability for merchants who are not yet chip-ready."
  • Walmart Introduces Walmart Pay in Georgia - "With this launch, Walmart becomes the only retailer to offer its own payment solution that works with any iOS or Android device*, at any checkout lane, and with any major credit, debit, pre-paid or Walmart gift card – all through the Walmart mobile app."
  • Payments Canada, Bank of Canada Research Highlights Global Trend Towards Faster Payments - "The research, Clearing and Settlement Systems from Around the World: A Qualitative Analysis, identifies a series of commonalities between jurisdictions with modernized payment systems, but reveals there is no “one size fits all” approach to modernizing payments. Each country’s path to modernization is unique, shaped by local public policy priorities, user needs and legacy payment systems."
  • Chase Customers Can Now Send Money to More People in Real Time - "Chase customers sent $20 billion in person-to-person transactions through Chase QuickPay last year. Real-time transactions with customers of other participating banks will be available soon through the clearXchange™ network from Early Warning, which currently reaches up to 65% of the digital banking population in the U.S."
  • Consumers Respond to Apple Pay Messaging with More Payments - "According to early results, USAT believes that smartphone users shown digital advertising at point-of-sale through the ePort Interactive platform are more apt to pull out their iPhone to make a purchase, and even spend more during the transaction."
  • Ingenico Group and nanoPay Corporation Partner to Enable Canadian Retailers to Accept MintChip Digital Cash - "Ingenico Group embraces innovative solutions in Canada that expand our reach to a new generation of digital customers," said Suzan Denoncourt, Managing Director, Canada for Ingenico Group. "This partnership further reinforces our leadership position in payments technology by enabling MintChip digital cash transactions for the thousands of retailers using our smart terminals across Canada."
  • Ally Bank Introduces the Ally CashBack Credit Card - "We are confident the Ally CashBack Credit Card's rewards structure will resonate with customers, and the ten percent bonus feature for rewards deposited in an eligible Ally Bank account is consistent with our philosophy to help them maximize their savings opportunities."

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!

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.

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!

Headline News from PaymentsNews.com – June 15, 2016

Written by Payments News Editor on June 15th, 2016. Posted in American Express, EMV, InstaMed, Payments News - Headline News, PayPal, Revel, Visa, Wells Fargo

Headline News is brought to you by RS Software. To learn more about why RS Software is the choice for leading payments companies around the world, click here!

ON THE WEB

  • Why PayPal sees itself as the future of payments - CNET - "Schulman's vision is to make PayPal more of a daily or weekly habit, instead of just a payment button on a retailer's website or a place folks visit every now and then to transfer money."

ON THE WIRES

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!

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.

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!

Headline News from PaymentsNews.com – June 7, 2016

Written by Payments News Editor on June 7th, 2016. Posted in Cuba, EMV, Mobile Banking, Mobile Payments, Payments News - Headline News, Visa, Wells Fargo, Western Union

ON THE WEB

ON THE WIRES

  • Visa Introduces Digital Commerce App to Grow Mobile Capabilities of U.S. Financial Institutions - “The Visa Digital Commerce App brings together a comprehensive set of services to empower financial institution clients of all sizes to quickly offer their own digital payment experience to cardholders, while keeping their brand and relationship with the cardholder front and center,” said Oliver Jenkyn, group executive, North America, Visa Inc.
  • Western Union Pioneers Digital Money Transfer to Cuba - “We expedited activation of our digital money transfer convenience for senders in the Cuban diaspora as we know first-hand the value of remittances to the economic security of families and funding of small businesses. Expanding accessibility and moving money in minutes is what underpins our entire omni-channel strategy.”

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!

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.

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!

Headline News from PaymentsNews.com – May 26, 2016

Written by Payments News Editor on May 26th, 2016. Posted in American Express, Authentication, China Unionpay, Credit Cards, Credit Scores, EMV, First Data Corp., Gift Cards, Green Dot, India, MasterCard, Payments News - Headline News, PayPal, Prepaid Cards, Synchrony Financial

ON THE WEB

ON THE WIRES

PAYMENTS IN PORTLAND

  • Join us for the next Payments in Portland (Oregon) event being held on Tuesday, June 7th. Details here!

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!

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.

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!

Headline News from PaymentsNews.com – May 16, 2016

Written by Payments News Editor on May 16th, 2016. Posted in Authentication, Bill Payment, Bitcoin, Blockchain, CashStar, EMV, Financial Regulators, India, Mobile Payments, Mobile POS, NPCI, Payments News - Headline News, SWIFT, Trusona, WePay

ON THE WEB

ON THE WIRES

PAYMENTS IN PORTLAND

  • Join us for the next Payments in Portland (Oregon) event being held on Tuesday, June 7th. Details here!

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!

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.

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!

Headline News from PaymentsNews.com – May 13, 2016

Written by Payments News Editor on May 13th, 2016. Posted in Apple, Blockchain, Card Fraud, Data Breaches, Data Security, EMV, Mobile Technology, Mobile Wallets, Payments News - Headline News, R3CEV, Square, SWIFT, UK

ON THE WEB

  • Is Friendly Fraud Spoiling the EMV Transition? - FIS Payments Leader Blog (Brian Beacom) - ""It was never meant to be like this. The global migration from magnetic stripe cards to the more secure chip-embedded cards was intended to add another layer of security against fraud. However, the reality is that during the transition to full EMV compliance, chargebacks are skyrocketing and it is the merchants who are paying the price."
  • Once Again, Thieves Enter Swift Financial Network and Steal - New York Times - "New details about a second attack involving Swift — the messaging system used by thousands of banks and companies to move money around the world — are emerging as investigators are still trying to solve the $81 million heist from the central bank of Bangladesh in February."
  • $1B Bangladesh hackers implicated in attack on Vietnamese bank, Sony hack - ArsTecnica - "SWIFT didn't name the other bank, but BAE Systems, which has been investigating the Bangladesh attack, has said that a Vietnamese commercial bank has been hit by closely related malware in a report of its own."
  • R3 eyes $200m for next step in blockchain journey - Financial News - "New York-based R3 is asking members for money in return for equity stakes in a new utility that will run blockchain-powered applications for financial institutions."
  • UK shows off prototype of digital iPhone driving license using Apple’s Wallet app - 9to5Mac - "Development of the feature has been made possible by recent changes to laws for UK driving licenses that abolished the paper counterpart to the photo card last year."

ON THE WIRES

  • Paul Deighton Joins Square's Board of Directors - "Today Square announced that Lord Paul Deighton of the United Kingdom joined its Board of Directors. Deighton served as the United Kingdom’s Commercial Secretary to the Treasury, CEO of the London Organising Committee for the Olympic Games and Paralympic Games, and as a partner at Goldman Sachs. ... Deighton replaces Earvin “Magic” Johnson, who has stepped down from Square’s Board."

PAYMENTS IN PORTLAND

  • Join us for the next Payments in Portland (Oregon) event being held on Tuesday, June 7th. Details here!

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!

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.

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!

Headline News from PaymentsNews.com – May 12, 2016

Written by Payments News Editor on May 12th, 2016. Posted in Africa, American Express, Blockchain, EMV, Healthcare Payments, India, M-PESA, Payments News - Headline News, TSYS, Verifone, Visa, Vodafone

ON THE WEB

ON THE WIRES

  • Linq3 Partners with Verifone to Bring Play at the Pump Lottery to Gas Stations - "Play at the Pump brings the lottery to busy consumers, delivering a fast, convenient and secure way to play and win on-the-go. With a quick swipe of a payment card at the gas pump, consumers can purchase lottery draw games in less than 20 seconds."
  • TSYS Signs Leading African Banking Group - "TSYS today announced that Ecobank, the leading pan-African banking group, has deployed the latest version of the PRIME payments solution platform, PRIME 4, to support its acquirer processing of MasterCard, Visa and UnionPay International point-of-sale (POS) transactions across 28 countries in Middle Africa."

PAYMENTS IN PORTLAND

  • Join us for the next Payments in Portland (Oregon) event being held on Tuesday, June 7th. Details here!

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!

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.

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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