Headline News from PaymentsNews.com – June 29, 2016

Written by Payments News Editor on June 29th, 2016. Posted in Blockchain, Digital Insight, First Data Corp., Green Dot, MasterCard, Microsoft, Mobile Banking, Mobile Coupons, Mobile Payments, Near Field Communication (NFC), Payments News - Headline News, Prepaid Cards, Silicon Valley Bank, Synchrony Financial, Walmart

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

ON THE WEB

ON THE WIRES

  • MasterCard to Simplify E-Commerce for Microsoft Dynamics Customers around the Globe - “Businesses need to be able to sell to their customers wherever they are without headache or hassle,” says Deborah Barta, Simplify Commerce global lead, MasterCard. “We want to make life easier for businesses as they grow, and we look forward to working with Microsoft to bring safe, simple and secure electronic payments to more businesses around the world.”
  • First Data and Silicon Valley Bank Expand Strategic Partnership - “With the power of First Data’s technology combined with our broad relationships across the innovation ecosystem, we help increase our clients’ probability of success while making payment issuance and acceptance easier and more effective,” said Eduardo Vergara, Head of Payment Services, Silicon Valley Bank. “Technology companies tend to expand into many markets earlier than companies in other industries, and require services that can scale easily and globally. Together with First Data, we are able to deliver payment solutions that will truly help our clients grow.”
  • Synchrony Financial Invests in flexReceipts, Inc. - Neeraj Mehta, Executive Vice President, Business Strategy and Development, at Synchrony Financial said: “We are pleased to be a strategic investor in flexReceipts. Synchrony and flexReceipts share a common principle of helping retailers enhance customer loyalty and deliver a frictionless digital customer experience. flexReceipts uses cutting-edge technology in a way that is aligned with our vision for retail innovation..."
  • Consumers Now Can View Credit Card Data alongside Checking and Savings from Their Online and Mobile Banking Solutions - "Digital Insight and PSCU’s platforms integrate APIs, which allow credit card account and transaction data to flow seamlessly between the two platforms in real time. Digital Insight uses PSCU's Data eXchange middleware for real-time integration. Over 120 PSCU Owner credit unions have leveraged Data eXchange’s open architecture to provide the functionality and the enhanced service experience that members are demanding."
  • Definitive Internet of Things and NFC White Paper Published by NFC Forum - "The NFC Forum announced today the publication of a definitive white paper focused on the Internet of Things (IoT) and Near Field Communication (NFC) in the smart home. Titled ″Simplifying IoT: Connecting, Commissioning, and Controlling with Near Field Communication – NFC Makes the Smart Home a Reality,″ the white paper outlines the future of IoT devices in the smart home and how NFC will help developers and manufacturers bring the benefits of IoT to where we live, work, and play. It is available for download at no charge."
  • One in Three American Households Are Stuck in a Relationship with a Financial Services Provider They Don’t Trust - “The fact that so many consumers are working with a financial services institution they don’t trust has significant financial implications,” said Jeremy Bowler, senior vice president of Financial Services at Market Strategies. “It creates greater opportunity for disruptive change, and with financial technology solutions rapidly emerging, this is a pool of consumers who are ripe for the picking.”

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 20, 2016

Written by Payments News Editor on June 20th, 2016. Posted in Apple, Apple Pay, ATM, Bank of America, Blockchain, Canada, Card Reward Programs, Cash, Chase Card Services, Citi Cards, Elavon, JP Morgan Chase, Mobile Banking, Mobile Payments, Money Transfer, Payments News - Headline News, Remittances, UK, 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

ON THE WIRES

  • New Costco Anywhere Visa Card by Citi Offers Cash Back Rewards on Every Purchase - “We have a strong relationship with our members and it’s important that we’re rewarding their loyalty to us,” said Craig Jelinek, CEO and President, Costco. “Our new co-brand credit card agreement with Citi on the Visa network enables us to offer significant value and benefits for our members across 494 locations in the U.S. and Puerto Rico.”
  • That familiar ring? It’s your mobile phone, not your wedding band - "“We saw consumers really step up their use of digital banking tools – especially mobile apps – in the last year,” said Donna Vieira, Chief Marketing Officer of Consumer Banking at Chase. “We continue to enhance our digital banking services to let customers bank how, when and where they want.”"
  • Elavon Supports Payments Innovation with Apple Pay Expansion in Canada - "Elavon is among the first payment processing companies to offer Apple Pay to Canadian businesses, and provides support for in-person payments, as well as in-app purchases for Interac®, Visa®, MasterCard® and American Express®."
  • Dragonfly Fintech Selected to Implement Payment Solution - "It is about transforming the money remittance space and repositioning the service as a platform business allowing near frictionless participation," said Lon Wong, CEO, Dragonfly Fintech.
  • Blockchain Technology: Disruptive Forces in Financial Services, According to IDC - James Wester, research director at IDC Financial Insights and author of the report, said, "Blockchain has emerged during a time of incredible change in the payment space. Even though banks and technology vendors are grappling with many issues right now, they should pay particular attention to blockchain. It represents a complete shift in the way electronic transactions have been handled for decades, and participants in the market should begin thinking about how they will adapt to it."

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 – June 3, 2016

Written by Payments News Editor on June 3rd, 2016. Posted in Amazon Web Services, Apple, Apple Pay, Bank of America, Banking Industry, Capital One, Card Reward Programs, clearXchange, Contactless Payments, Credit Cards, Financial Regulators, Merchants, Mobile Banking, Mobile Payments, Near Field Communication (NFC), Online Banking, Payments News - Headline News, PCI Security Standards Council, SWIFT, Target, Visa, Visa Europe

ON THE WEB

ON THE WIRES

  • European Commission Approves Visa Inc.’s Acquisition of Visa Europe - "Visa has now received all regulatory approvals required for the acquisition. The transaction has already been cleared by both the Jersey and the Turkish competition authorities. The transaction is expected to close in Visa Inc.’s fiscal third quarter of 2016."
  • Retailers Ask FTC to Investigate Credit Card Industry’s PCI Security Group for Antitrust Concerns - "In a 19-page white paper submitted to the FTC, NRF said the card companies use their market power to “unfairly leverage their brands and proprietary technology through webs of closely controlled interdependent bodies and compliance regimes” including the council."
  • Amazon Alexa Continues to Get Smarter: Over 1,000 Third-Party Skills Now Available - “At Capital One, we’re continually exploring new ways to harness technology to help our customers confidently and securely manage their money, wherever they are,” said Ken Dodelin, Vice President of Digital Product Management, Capital One. “Through the Alexa Skills Kit open APIs and developer tools, we were able to easily give our customers direct voice access to their accounts so they could hear how much money they have in their accounts, make credit card payments and stay on top of recent account changes."
  • Apple Pay Coming to Grubhub's Customers - "We're always looking for ways to make it easier for our diners to find and order the type of food they want, when they want it, from their favorite local restaurants," said Sudev Balakrishnan, SVP of Product for Grubhub. "We're thrilled to bring the ease of use of Apple Pay to our diners. It offers another quick and convenient way for them to pay for their meals, whether they're at home or on the go."

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 19, 2016

Written by Payments News Editor on May 19th, 2016. Posted in Amazon Payments, Android Pay, Apple Pay, ATM, Banking Industry, Bitcoin, Blockchain, Card Fraud, China Unionpay, Google, Mobile Banking, Mobile Payments, Payments News - Headline News, UK, Voca

ON THE WEB

  • Thunder, Lightning and Interledger - Medium (Adrian Hope-Bailie) - "It’s still very early to tell, but on first appraisal, it looks like Blockchain has taken a great stride in fixing a major limiting factor of Bitcoin and one that made it very difficult to use Bitcoin with Interledger; transaction speed."
  • Android Pay wants to streamline Web payments and customer signups - ArsTechnica - "In a call with Ars on Tuesday, Senior Director of Product Management for Android Pay Pali Bhat said that the Android Pay team has been working to increase user signups and encourage continued use of the platform, something that all mobile payment platforms have struggled with in the last five years."
  • Google Home: A Voice-Activated Device That Already Knows You - New York Times - “Before I got an [Amazon] Echo I thought it was a joke and a bad idea,” said Gene Munster, an analyst with Piper Jaffray. “But I saw the utility and ended up buying five of them for my family.”
  • Android Pay now in the UK, new countries on the way - Android Official Blog - "You will be able to use Android Pay everywhere contactless payments are accepted including your favourite high street stores like Boots, Starbucks and Waitrose and pay for the Tube, bus and train with Transport for London."

ON THE WIRES

  • Chime Brings Apple Pay to Members, Adds 'Pay Friends' Feature and Closes $9MM in Financing - "The mobile banking company also closed an additional $9 million of funding and has raised a total of $21 million to date. Lauren Kolodny, recently named to the Forbes 30 under 30 Venture Capital list, led the financing for Aspect Ventures and has joined Chime's board."
  • Vocalink Signs Deal With Unionpay International - "Under the deal, VocaLink will provide ATM transaction processing and UnionPay sponsored access, providing acquirers with a fast go to market solution, which allows them to accept transactions from a growing market. On average, the value of UnionPay card withdrawals from UK ATMs are five times the average value of UK ATM withdrawals."
  • ATM is a New Skimmer: Crooks Bring ATMs on Their Side - "The Skimer group starts its operations by getting access to the ATM system - either through physical access, or via the bank's internal network."

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 6, 2016

Written by Payments News Editor on May 6th, 2016. Posted in Accenture, Banking Industry, Bitcoin, CFPB, Coinbase, EU, Facebook, Financial Regulators, JP Morgan Chase, Mobile Banking, Payments News - Headline News, PayPal, Ripple, Square, Venmo

ON THE WEB

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming up in May - both in Palo Alto, CA - 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 – February 23, 2016

Written by Payments News Editor on February 23rd, 2016. Posted in Amazon Web Services, ATM, Australia, Authentication, Banking Industry, Bitcoin, Cash, Financial Regulators, Identity Management, JP Morgan Chase, Klarna, MasterCard, Mobile Banking, Mobile Payments, Payments News - Headline News, Trusona, UK

ON THE WEB

  • How This $2.3 Billion Swedish Company Plans to Dominate the U.S. Payments Sector - Inc. - "Klarna, for that matter, is not your average payments processor. By partnering with merchants, the system allows customers to purchase an item simply by entering their name, email address, and zip code."
  • Amazon Web Services Takes Aim at Big Banks - "The company’s Amazon Web Services unit has been approaching banks such as Citigroup Inc., Goldman Sachs Group Inc. and J.P. Morgan Chase & Co., people familiar with the matter said."
  • JPMorgan Quietly Tests ‘Blockchain’ With 2,200 Clients - Wall St. Journal - "The nation’s largest bank has been testing the program in recent months to move U.S. dollars for about 2,200 clients between the two financial centers using a version of the “blockchain” technology that underpins bitcoin..."
  • Mastercard Is Expanding Its 'Selfie Pay' Capabilities - Fortune - "When making a purchase online from a merchant that requires identity verification, cardholders can authorize the transaction by holding up their phones as if taking a selfie and blinking..."
  • Getting Rid of Big Currency Notes Could Help Fight Crime - New York Times - "Getting rid of big bills will make it harder for criminals to do business and make it easier for law enforcement to detect illicit activity."
  • Reserve Bank says Australian dollars could come in digital form in future - Sydney Morning Herald - "In a speech where he also flagged the end of the cheque, Mr Richards said the RBA had been watching the growth in demand for privately-established virtual currencies like Bitcoin, and believed there was a place for a central-bank-issued digital currency in Australia."
  • The Ongoing Evolution of the Australian Payments System - Reserve Bank of Australia (Tony Richards) - "Today's conference is on payments innovation and I would like to speak about some ways that our payments system is evolving, both in terms of some innovative new payment instruments that are on their way and the declining use of some of our older or legacy payment instruments."
  • UK FinTech: Regulating for innovation - FCA (Christopher Woolard) - "How can regulation foster innovation in financial services? And as part of that how can we ensure that we have a regulatory environment fit for future innovation?"

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming up in early April - both in 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.

EVENTS

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 – September 24, 2015

Written by Payments News Editor on September 24th, 2015. Posted in BillGuard, Bitcoin, Canada, Coinbase, Cover, Dwolla, MasterCard, Mobile Banking, Mobile Payments, Mobile POS, Payments News - Headline News, Prosper, Samsung, Samsung Pay, Seamless, TSYS, Visa, Wells Fargo

On the Web:

On the Wires:

  • MasterCard Transforms Aid Distribution - "MasterCard today launched the MasterCard Aid Network, an end-to-end, non-financial service designed to streamline aid distribution even in the absence of telecommunications infrastructure. Now, impacted populations can secure basic needs swiftly with the simple dip of a card."
  • Prosper Marketplace to Acquire Leading Personal Finance Company BillGuard - “Both BillGuard and Prosper Marketplace are focused on empowering consumers to be financially secure, smart and successful,” said Yaron Samid, co-founder and CEO of BillGuard. “Joining forces means that BillGuard can continue to innovate while contributing to the evolution of Prosper Marketplace as a full-service financial management company.”
  • Wells Fargo: Text and Email Alerts to Customers Exceed Half a Billion This Year - “Customers feel good when they have timely information that lets them know where they stand when it comes to their finances,” said Brett Pitts, head of digital for Wells Fargo Virtual Channels. “Email and text alerts offer just that, allowing them to make decisions that can save them money and make their banking easier.”
  • Seamless Launches Tomorrow’s Digital Cash Register – Free Cash Register Included in SEQR That Eliminates the Need for Physical Card Readers - "Seamless is launching a digital cash register for the company’s SEQR payment solution. All SEQR users will now have access to the digital cash register, which becomes a standard feature of the SEQR app. The solution enables small enterprises and private individuals to receive payment without the need for a physical card reader or incurring high transaction costs."
  • PowaPOS Expands Global Footprint Through Partnership with Canadian Leader CT-Payment - “By integrating CT-Payment into our SDK, our companies have removed the burden from the ISV and ISO of becoming payments experts, and provided them with a value-added service they can use to get their merchants to market faster,” said Jeff Dumbrell, CEO, PowaPOS. “And, with CT-Payment’s Interac certification, we both dramatically simplify the transition to tablet POS that Canadian merchants are seeking; while also ensuring that the most advanced, secure payment processing is available.”
  • TSYS Signs Payments Agreement with Premier Bank - "TSYS (NYSE: TSS) announced today that The Premier Bank Limited, a leading commercial bank in Bangladesh, has signed an agreement to upgrade to PRIME 4, the latest version of TSYS’ PRIME payment solutions platform."

Glenbrook's 2015 Payments Education

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 – August 21, 2015

Written by Payments News Editor on August 21st, 2015. Posted in Affirm, Apple, Apple Pay, Bitcoin, Credit Scores, Federal Reserve, Financial Regulators, Mobile Banking, Payments News - Headline News, Visa, Visa Europe

On the Web:

  • Visa In $21bn Bid To Merge US, European Units - Sky News - "The American payments giant Visa has tabled a $21bn (£13.4bn) offer to acquire its European sister company in a deal that would crystallise huge windfalls for some of Britain's biggest banks."
  • Mobile Banking and Mobile Payment Practices of U.S. Financial Institutions: Results from 2014 Survey of FIs in Five Federal Reserve Districts - Federal Reserve Bank of Boston - "A new report from the Federal Reserve Bank of Boston's Payment Strategies team offers insights into the mobile banking practices and mobile payment plans of banks and credit unions in five Federal Reserve Districts: Atlanta, Boston, Dallas, Minneapolis, and Richmond. The report presents the consolidated findings from a joint survey that was conducted in the third quarter of 2014."
  • Credit Scores Are Rising, and Becoming More Visible - New York Times - "The national average FICO score is now 695 — the highest it has been in at least a decade, according to the latest analysis from Fair Isaac Corporation, the score’s creator. Nearly 20 percent of consumers now have scores above 800."
  • Apple Posts New iPhone Advert: “Apple Pay” - MacStories.net - "The new advert, "Apple Pay", naturally focuses on Apple Pay, demonstrating Apple's contactless payment method available on the iPhone 6 in the US and UK."
  • Forking hell - Economist - "The dispute is as ideological as it is technical. The Bitcoin community has a process to settle such controversies, but it is by design slow and produces decisions only when everybody is happy."

On the Wires:

  • Affirm Financing Now Available to Shopify Merchants - "Affirm, the financial technology company led by PayPal Co-Founder Max Levchin, today announced that Buy with Affirm, a payment option for consumers, is now available to merchants on Shopify, a leading cloud-based multichannel platform. The integration will provide Shopify’s U.S. merchants with the ability to offer shoppers installment financing at checkout."

Glenbrook's 2015 Payments Education

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 – August 17, 2015

Written by Payments News Editor on August 17th, 2015. Posted in Apple, Apple Pay, ATM, Australia, Bitcoin, Card Fraud, MasterCard, Mobile Banking, Mobile Payments, Payments News - Headline News

On the Web:

  • MasterCard on Changes Coming in Payment Card Security - Wall St. Journal Risk and Compliance Journal - "Ajay Bhalla, president of enterprise security solutions at MasterCard Inc., talks about the introduction of chip-based cards to the U.S. and what’s on the horizon for payment-cards security."
  • The Bitcoin XT Fork - AVC.com (Fred Wilson) - "It will be fascinating to watch this play out. If you are used to big corporations or governmental institutions making decisions behind closed doors about how your financial systems work, then you might enjoy watching a new model of innovation and technology evolution unfold."
  • $2b fee sticking point as Apple wrangles with Australia's big four banks - Australian Financial Review - "Commonwealth Bank of Australia chief executive Ian Narev would not comment on the progress of negotiations with Apple, but said Apple's attempts to offer Apple Pay in Australia won't be as easy as it was in the US given Australian banks' record of innovation. "
  • ApplePay Grows in Popularity, Users Happy with Platform - TMG Blog - "Recent data from 451 Research concludes 45 percent of smartphone owners who plan to use mobile payment apps over the next three months will opt for Apple Pay."

On the Wires:

Glenbrook's 2015 Payments Education

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!

Direct SEPA

DirectSEPA handles YOUR direct debits in over 30 European countries. Register today and offer direct debit payments in your webshop tomorrow!

Need more information? Feel free to contact us and we'll do our best to answer your questions.