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ON THE WEB
- Android Pay now used for international P2P transfers, courtesy of WorldRemit – TechCrunch – “AndroidPay, Google’s wallet for Android devices, is getting a boost in its global profile and functionality today: WorldRemit, the $500 million remittance startup connected to around 120 million mobile money accounts globally, which lets residents in one country transfer money to family and friends in another, has announced that it will now let people make transfers using Google’s mobile wallet.”
- Security Investments Consume SWIFT’s Profits – CU Infosecurity – “Banks that collectively own SWIFT saw their profits vanish last year as the organization increased its investments in information security, even as the interbank messaging service handled record volumes of money-moving messages.”
- Is Amazon a bank: ramps up lending in challenge to big banks – Payments Cards & Mobile – “Amazon.com said Thursday that its Amazon Lending service has surpassed $3 billion in loans to small businesses since it was launched in 2011. Amazon is planning to expand its lending to small businesses in the US, the UK and Japan, in a direct challenge to the big banks which have historically dominated.”
- Fiserv to buy UK mobile payments pioneer Monitise for 70 million pounds – Reuters – “U.S. financial technology provider Fiserv said on Tuesday it had agreed to buy British financial services technology firm Monitise Plc for about 70 million pounds ($88.72 million). AIM-listed Monetise, worth about 2 billion pounds at its peak in early 2014, blazed a trail by linking banks and mobile operators to build a business capable of handling billions of dollars in mobile payments, purchases and money transfers.”
- Scammers Are Using Fake Apple In-App Subscriptions to Make Lot of Money – The Hacker News – “Shady developers are abusing Apple’s relatively new and immature App Store Search Ads, which was launched at last year’s Worldwide Developers Conference (WWDC), to promote their app in the store by using a few strategically chosen search ads and a bit of SEO.”
- Goldman’s Blankfein, Citi’s Corbat Duped by Email Prankster – Wall Street Journal – “The chief executives of Goldman Sachs Group Inc. and Citigroup Inc. C are the latest bank bosses to be hooked by an email prankster trolling top Wall Street brass, exposing a low-tech gap in banks’ cybersecurity armor.”
ON THE WIRES
- Emirates Islamic is first Islamic bank to integrate blockchain technology into cheques – “Termed ‘Cheque Chain’, Emirates Islamic is the first Islamic bank in UAE to undertake this initiative to enhance security in the popular payment method. Emirates Islamic will issue new cheque books carrying a unique QR (Quick Response) code on every leaf, along with a string of 20 random characters.”
- Citi Retail Services and ExxonMobil™ Unveil New In-App Mobile Feature: Apply, Purchase and Save at the Pump with ExxonMobil’s Speedpass+™ App – “Citi Retail Services and ExxonMobil today announced new industry-leading functionality for the ExxonMobil Speedpass+™ mobile payment app that enables consumers to apply for the ExxonMobil Smart Card credit card directly through the app and begin saving on fuel purchases.”
- Ease of Use, Data Security Are Priorities for Bank and Credit Card Mobile App Users, J.D. Power Finds – “While retail bank and credit card customers now prefer mobile to all other channels for interaction, not all mobile apps are created equal, according to the J.D. Power 2017 U.S. Banking App and U.S. Credit Card App Satisfaction Studies,SM released today. The studies find that ease of use is the key differentiator among top-performing mobile apps and data security remains a hurdle to new customer adoption.”
- Rise of the technophobe – education key to tech adoption, says HSBC – “A lack of understanding and trust in technology is stalling mainstream adoption of innovative new services which could make millions of people’s daily lives simpler and more secure, new HSBC research reveals. The HSBC research report, Trust in Technology, shows that technologies such as fingerprint recognition, voice recognition and robo-advice hold enormous potential for uses from bank security to mobile payments and investment advice, yet millions of people who could benefit do not trust them because they do not understand them well enough.”
GLENBROOK PAYMENTS EDUCATION EVENTS
Understanding the accelerating pace of change in the payments industry has never been more important. Get the knowledge you need fast at one of our two day Payments Boot Camps. Our one day Insight Workshops follow each Boot Camp and are deep dives into key topics such as digital payments and the global phenomenon of real-time push payments. Take a discount for attending all three days. Our workshop schedule is all set for the fall. Check it out here. We hope to see you soon!
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: firstname.lastname@example.org!