Headline News from PaymentsNews.com - August 19, 2015

how long do paypal payments take
    With an Eye on Fintech, Andreessen Horowitz Adds a New General Partner (Alex Rampell) - New York Times - "Most recently, Mr. Rampell was co-founder and chief executive of TrialPay, an e-commerce payment and advertising service, which was acquired by Visa this year." Obama’s former CTO is headed to PayPal, it’s acquired his retail startup Modest - The Next Web - "Reed’s retail startup Modest, which he co-founded in 2012 with Dylan Richard, has been acquired by PayPal. Both Richard and Reed will now join the company’s Braintree unit, along with their team." Group accounts on Venmo launched in beta - Venmo Blog - "Venmo’s mission has always been to connect the world and empower people through payments. And today, we’re excited to announce that we are taking another step towards reaching that goal. We’re launching the beta for groups, a new feature that lets Venmo users create an account for their group or club." India: Finance ministry mulls 1% Income Tax rebate for credit/debit card payments - Financial Express - "Credit or debit card users may get to claim 1% of their annual transactions as deduction from income, if a proposal made by a section of the finance ministry is implemented, reports Prasanta Sahu in New Delhi." India shakes up financial sector with payments bank licences - FT.com - “This is a really big change, and one that can take banking in India to the next level,” said Shinjini Kumar, head of banking at PwC in India. In Conversation: Stripe CEO Patrick Collison On The Limitless Potential Of Payments - Forbes - "Our strategy is the best product comes from a unification of the whole thing, by building a really powerful foundation and enabling additional services on top, fundamentally geared around this thesis of empowering the developer. That strategy is highly differentiated in the industry." CFPB on Debt Collection: What Consumers are Complaining About - FICO Blog - "What does this mean for members of the accounts receivable management industry? You’re expected to mitigate risk areas. You’re expected to respond to complaints within 15 days and if the complaint can’t be closed within this time period, document work in progress and final resolution within 60 days." The 8 Steps to Becoming a Bitcoin-Savvy Bank - CoinDesk (William Mougayar) - "Don’t just do pilots that automate old processes. Rather, launch major reengineering efforts across all processes and ask the important question: What could Crypto-Tech enable now if we reinvented it?"

On the Wires:

    New American Express Serve® Prepaid Debit Account Earns Rewards - "American Express announced Serve Cash Back, a new prepaid debit Account option that will earn Accountholders 1% cash back on purchases. Consumers who spend in line with the 2012 – 2013 U.S. Department of Labor national averages for gas, groceries, dining out, clothing, transportation and entertainment using the Serve Cash Back Card could potentially earn more than $400 annually when earning 1% cash back." In-store Shopping Experience a Major Factor in Major Purchase Decisions, Synchrony Financial Study Finds - "Results show that shoppers enjoy the immediacy and interaction of in-store purchases. Shopping in-store allows them to take the product home on the same day, see and feel the product, and interact with a store associate. Some respondents noted they simply like to shop at the retailer."

Glenbrook's 2015 Payments Education

    Our next Payments Boot Camp session is scheduled for October 13-14 in Palo Alto, California followed by a one-day Insight Workshop on October 15 on the topic of Global Payments .

We will also be teaching the Payments Boot Camp in New York City on October 20-21 followed by a one-day Insight Workshop on October 22 on the topic of Virtual Currencies and Bitcoin .

If you have questions about our payments education program, please contact Carol Coye Benson for more information.

Updates from Glenbrook:

    Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews
    Click here to share PaymentsNews with a friend

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 13, 2015

    Square launches service offering small businesses instant deposit of payments — for a fee - San Francisco Business Times - "Square said sellers using its app will be able to click a button for instant deposit of balances between $50 to $2,500, paying a 1 percent fee." Samsung Introduces New Phones and Mobile Payment System - New York Times - "To win over consumers, Samsung is promoting the security features of Samsung Pay. It uses a technology developed by credit card companies called tokenization, which does not require transmitting a person’s credit card numbers when paying for things. (Both Android Pay and Apple Pay use this technology as well.)" Salesforce Adds E-Commerce To Its Community Cloud - TechCrunch - "By introducing the ability to make purchases directly from those communities, Mike Stone, the senior vice president of marketing for Salesforce Community Cloud, said the company is enabling “a whole new evolution of social commerce.”" Do You Have Change for a Bowie? The Advent of Artisanal Cash - New York Times - "As Bitcoin, PayPal and other electronic forms of payment grow in popularity in the global economy, cash in a growing number of places — not only Bristol and Brixton, but also Amsterdam; Ithaca, N.Y.; and elsewhere — is becoming quite literally an artisanal object." Alternative Currencies Flourish in Greece as Euros Are Harder to Come by - Wall St. Journal - "TEM—a sophisticated form of barter whose name is the Greek acronym for Local Alternative Unit—was founded in 2010 in the early months of Greece’s debt crisis with less than a dozen members." FAQ: What you need to know about chip-embedded credit cards - Computerworld - "Some industry analysts say chaos will ensue because chip cards take a few seconds longer to read than magnetic stripe cards, and some customers and store clerks will be unfamiliar with how to use them." Send and Receive Money with PayPal through BBM – Q&A with PayPal - Inside Blackberry - "BBM and PayPal have teamed up to make sending and receiving money through your BBM Chats even easier. Just connect your PayPal account to your BBM. Once your BBM contacts do the same, you can start sending and receiving money – it’s that simple." Boku Acquires Mobileview Italia In Further Carrier Billing Consolidation - TechCrunch - "The purchase gives Boku access to all four of the major mobile carriers in Italy — Telecom Italia Mobile, Vodafone, Wind, and 3 (Hutchinson) — covering more than 87 million mobile subscriptions." Business Book Award longlist: must-read titles of 2015 - FT.com - "The promise and perils of technology dominate the longlist for this year’s Financial Times and McKinsey Business Book of the Year Award."

On the Wires:

    Samsung Announces Launch Dates for Groundbreaking Mobile Payment Service: Samsung Pay - "Samsung Electronics Co. Ltd. unveiled today that Samsung Pay, a secure and easy-to-use mobile payment service that can be used to make purchases nearly everywhere cards are accepted, will launch in Korea on August 20 and in the U.S. on September 28. Samsung plans to roll out the service in the U.K. Spain and China, with partners to be named in each market." Synchrony Financial Enables Private Label Credit Card Benefits Through Samsung Pay - “We continue to make our cards valuable to consumers, retailers and merchants and are pleased to securely offer the benefits of our private label credit cards through Samsung Pay,” said Margaret Keane, president and CEO of Synchrony Financial. “Through our ongoing innovation and strategic partnerships, we have developed a mobile platform that we can rapidly integrate with providers’ wallets while preserving the value of Synchrony Bank’s private label credit cards and patented Dual Cards for whichever mobile wallet our partners and customers choose.” Samsung Joins the Visa Digital Enablement Program - “Samsung Pay is now one more way consumers can make secure payments based on tokens -- technology that is quickly becoming the standard for safe mobile payments,” said Jim McCarthy, Executive Vice President of Innovation and Strategic Partnerships at Visa. “Similar to how Samsung Pay is reaching mass merchant acceptance on day one, VDEP is making it easy and cost-effective for payment providers, financial institutions and technology companies like Samsung to take full advantage of token technology and bring secure mobile payments to consumers everywhere.” Discover to Bring Samsung Pay to Cardmembers - “Discover remains committed to providing cardmembers with simple, convenient and versatile payment options,” said Diane Offereins, Discover’s president of payment services. “Adding Samsung Pay expands our ability to offer innovative and secure mobile payment services, enhancing the customer experience that cardmembers have come to expect from Discover.” Heartland, VersaPay Help Merchants Move to Electronic Invoicing - "Heartland Payment Systems and VersaPay have announced they are collaborating to help merchants improve their accounts receivable through a cloud-based software solution utilizing the Heartland Portico™ Gateway and VersaPay ARC® platform."

Glenbrook's 2015 Payments Education

    Our next Payments Boot Camp session is scheduled for October 13-14 in Palo Alto, California followed by a one-day Insight Workshop on October 15 on

    the topic of Global Payments .

We will also be teaching the Payments Boot Camp in New York City on October 20-21 followed by a one-day Insight Workshop on October 22 on the topic of Virtual Currencies and Bitcoin .

If you have questions about our payments education program, please contact Carol Coye Benson for more information.

Updates from Glenbrook:

    Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews
    Click here to share PaymentsNews with a friend

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 12, 2015

    Payments on Fire Podcase #25 – Directory Service for Virtual Currencies - PaymentsViews.com - Glenbrook's George Peabody interviews Justin Newton and Dawn Newton - founders of Netki. Why Fintech Is One of the Most Promising Industries of 2015 - Inc. (Maria Aspan) - "WePay is one of many finance-oriented startups dominating the rankings: From the financial services category alone, four are in the top 20 and 27 on the list overall, with a combined $850.7 million in 2014 revenue." Give your business a contactless boost with PayPal Here – wherever you trade - PayPal UK Blog - "The news keeps coming thick and fast here at PayPal. This time it’s a welcome boost for the nation’s small businesses, as our NFC-enabled PayPal Here card reader goes on sale today." Apple Pay Competitor CurrentC May Not Launch Until Next Year - Re/code.net - "CurrentC, the payments app being created by a consortium of big retailers known as MCX, may not launch widely this year as originally planned, MCX CEO Brian Mooney told Re/code in an interview on Tuesday." Visa Exploring Bitcoin and Blockchain Technology - NewsBTC - “India will soon have teams that will jointly work with our two research labs in US and Singapore in studying the many aspects of blockchain,” said Visa executive vice president of technology Rajat Taneja. India’s Smartphone Market Is Booming – Especially at the Low End - Wall St. Journal India Real-time Blog - "IDC predicts the average selling price of Indian smartphones will fall to $102 in 2018 from $135 in 2014." Mobile wallet fraud set to rise in India: Deloitte - Economic Times - "About 17 million Indians use mobile money platforms offered by banks. While these are promising numbers that indicate economic development, users of mobile money platforms need to be cognizant of the fraud risks associated with these transactions," said Rohit Mahajan, senior director and head, forensic, financial advisory, Deloitte India. Target exec predicts growth 2x industry average due to mobile innovation - Mobile Commerce Daily - “Consumers do not think of themselves as a customer of Target.com versus being a customer at one of our stores,” said Jason Goldberger, president of Target.com and mobile at Target. “They just care about shopping with Target." With new EMV cards, tipping is about to get a lot more awkward - Omaha.com - "Paying with a chip card will require customers to either tell servers a tip amount before a transaction is authorized or ask customers to key in a tip themselves if an establishment has a tableside checkout terminal."

On the Wires:

    FIS to Acquire SunGard, Deepens Enterprise Banking and Capital Markets Solutions - “This is a significant milestone for FIS,” stated Gary Norcross, president and chief executive officer, FIS. “By bringing together two innovative companies with common business models, similar cultures, strong leadership and complementary solutions, we are enhancing our ability to empower our clients and deepen client relationships through an expanded full-service offering." Payoneer Announces Completion of $50 Million Share Purchase by New and Existing Institutional Investors - "We have seen strong interest by many top-tier investors who believe in our vision to transform cross-border commerce by connecting businesses worldwide on an innovative financial platform," said Scott Galit, CEO of Payoneer. "We are very pleased to add a high-quality institutional investor like Wellington Management Company to our shareholder base." Geoswift Joins Forces with UnionPay International and Western Union Business Solutions to Offer Tuition Payment Promotion - “Students studying abroad and their families are important customers. UnionPay International is dedicated to creating an all-dimensional payment service system for overseas students. Featuring security and convenience, the system covers a series of services including tuition payment, daily withdrawal and card swiping, establishment of student grant and other relevant services,” said Cai Jianbo, CEO, UnionPay International. European Issuers Can Thrive in a Tokenisation-Enabled Ecosystem - “Another positive indicator for m-payments’ rise in Europe is the success of existing mobile payment programs,” said John Goodale, group executive, product and market development, TSYS International. “The proliferation of alternative payment services in Europe in recent years suggests a growing consumer interest in and demand for such alternatives.” Perk.com Inc. Provides Users with Greater Flexibility in Redeeming Perk Points Through the Launch of Perk Plastik - "Perk.com, a cloud-based mobile rewards platform provider, announced today the launch of Perk Plastik, a new prepaid debit card that runs via the Discover Network, allows users to convert Perk Points into money available to be used at any retail or online establishment."

Glenbrook's 2015 Payments Education

    Our next Payments Boot Camp session is scheduled for October 13-14 in Palo Alto, California followed by a one-day Insight Workshop on October 15 on the topic of Global Payments .

We will also be teaching the Payments Boot Camp in New York City on October 20-21 followed by a one-day Insight Workshop on October 22 on the topic of Virtual Currencies and Bitcoin .

If you have questions about our payments education program, please contact Carol Coye Benson for more information.

Updates from Glenbrook:

    Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews
    Click here to share PaymentsNews with a friend

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 4, 2015

    U.S. Judge Rejects American Express Class Action Settlement - New York Times - "A U.S. judge on Tuesday rejected a proposed class action settlement between American Express Co and merchants who sued the company over swipe fees, ruling that a lawyer for the merchants compromised the fairness of the agreement." China Proposes to Keep Online Payments in Check - Wall St. Journal - "The draft rules issued late Friday by China’s central bank place curbs on online payment services—limiting fund transfers, capping the size of daily transactions and increasing the requirements users must meet to prove their identities." On Native Bitcoin Apps, Open Source Communities, and What Happened Before Satoshi Nakamoto Vanished - A16Z Blog - "This year, Switzerland-based bitcoin core developer Mike Hearn is an Andreessen Horowitz’ “developer in residence”, part of an effort to engage open source communities and especially focus on native applications built on top of bitcoin." Using Distributed Ledgers as a Payment System - Phil Kenworthy - "The big step would be to extend the model so that the Banks would not just operate their own ledgers but that for the broader banking community. The Payment System would then become the network and rules mechanism by which the transactions would take place."

On the Wires:

    PayPal Appoints New Chief Financial Officer - "PayPal Holdings, Inc. today announced John D. Rainey is joining the digital payments leader as its new Chief Financial Officer (CFO), effective August 24, 2015. Rainey joins PayPal from United Continental Holdings, Inc. where he was Executive Vice President and CFO at United Airlines." Pivotal Payments becomes Principal Member of UnionPay International - "We're delighted to be able to partner with UnionPay in providing high quality, cost effective and secure cross-border payment services, putting our clients on a newly expanded global footing," said Philip Fayer, president and chief executive officer of Pivotal Payments. "We are not only providing our merchants with flexible payment solutions but accessibility to a much larger consumer market with a significant level of disposable income."

Glenbrook's 2015 Payments Education

    Our next Payments Boot Camp session is scheduled for October 13-14 in Palo Alto, California followed by a one-day Insight Workshop on October 15 on the topic of Global Payments .

We will also be teaching the Payments Boot Camp in New York City on October 20-21 followed by a one-day Insight Workshop on October 22 on the topic of Virtual Currencies and Bitcoin .

If you have questions about our payments education program, please contact Carol Coye Benson for more information.

Updates from Glenbrook:

    Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews
    Click here to share PaymentsNews with a friend

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 !

Source: www.paymentsnews.com

Category: Bank

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