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ON THE WEB
- MASTERCARD WINS LEGAL BATTLE OVER INTERCHANGE FEES IN UK
– Cards International – “MasterCard has won a legal battle against the UK retailers including Asda, Morrison, New Look and Next over its interchange fees levied on the use of debit and credit cards. The retailers accused MasterCard for overcharging the interchange payments paid by shops to credit and debit card issuers when customers purchase goods using their cards.”
- PURCHASES, PAYMENTS & BANKING AROUND THE WORLD
– Mobile Ecosystem Forum mobile money report – “MEF’s global consumer study series looks at the habits and attitudes of nearly 6000 consumers in nine countries. The Mobile Money Report supported by Wirecard found 78% of people surveyed had made a purchase by mobile in the previous six months and looks at the types of payments and banking activities in both developed and emerging markets that are changing m-commerce habits and driving adoption of mobile money.”
- GREEN DOT TO BUY UNIRUSH FOR $147M
– Cards International – “Green Dot has signed an agreement to purchase UniRush and its operating businesses RushCard and Rapid! PayCard in a transaction valued at approximately $147m. Additionally, Green Dot will pay a minimum $4m annual earn-out payment for five years after completion of takeover, thereby bringing the total cost of the acquisition to $167m.”
- Square Wants to Make Mobile Payments Ubiquitous With Apple Pay
– Bloomberg – “Square Inc. is giving merchants more than $12,000 worth of Apple Pay transactions for free over a year, another effort by the company to encourage consumers to pay for quick retail transactions with their mobile phones.”
- Indonesian Ride-Hailing Unicorn Go-Jek Accelerates Digital Payments
– eMarketer – “With a valuation of about $1.3 billion, Go-Jek has emerged as one of Indonesia’s largest and most promising internet services company. The service boasts almost 30 million app downloads and has some 250,000 drivers working for it. Go-Jek has demonstrated a strong appeal for city residents who use it to hire motorbike taxis, which are faster than cars when dealing with widespread urban gridlock.”
ON THE WIRES
- Fugitive Arrested In $200 Million Credit Card Fraud Scam
– “The scheme involved a three-step process in which the defendants would make up a false identity by creating fraudulent identification documents and a phony credit profile with the major credit bureaus; pump up the credit of the false identity by providing bogus information about that identity’s creditworthiness; then borrow or spend as much as they could without repaying the debts. The scheme caused more than $200 million in confirmed losses to businesses and financial institutions.”
- Sionic Mobile Launches The Mobile Rewards Marketplace™
– “Sionic Mobile today announced the launch of a fully digital, Mobile Rewards Marketplace for small-to-medium sized business merchants (SMBs) and large chain retailers. Available early February, the Marketplace for SMBs is powered by the company’s award-winning ION Commerce Engine™ (ICE) and features speedy sign up, low-cost, bulk-rate mobile payments, merchant controlled rewards and untethered reach to millions of big-brand Mobile Rewards App consumers.”
GLENBROOK PAYMENTS EDUCATION EVENTS
Our next Glenbrook payments education events are in San Jose, CA, New York, NY, and Atlanta, GA. See our spring schedule here. 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
- Join us at the 2017 FinTech Georgia Symposium February 9! Glenbrook is a proud sponsor of the 2017 FinTech Georgia symposium. Join us for this great event on February 9 in Atlanta. Reach out to Glenbrook’s Elizabeth McQuerry, a board member of the Technology Association of Georgia, to schedule a meeting with the Glenbrook partners in town for the symposium.
- We’re hiring! Passionate about payments? Love solving tough client problems? If that describes you, come join us! Click here to learn more!
- Join our mailing list for updates about Glenbrook events.
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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!
Headline News from PaymentsNews.com – January 31, 2017
Payments News – from Glenbrook Partners
Payments News ISSN 1556-4487. Compilation Copyright © Glenbrook Partners LLC, 2002-2013. All Rights Reserved.