Headline News from PaymentsNews.com – March 20, 2017

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

ON THE WEB

  • IBM Goes Live With First Commercial Blockchains
    – Coindesk – “Previously released in beta and scheduled for official release today, the offering – dubbed “IBM Blockchain” – is formally debuting in front of a group of 20,000 developers at the Interconnect conference. There, its first two major deployments will also be detailed. One of those is a blockchain identity solution built with SecureKey, in which it will power a public-private partnership that saw six Canadian banks invest $27m. In addition, it will be revealed that a Chinese energy company is using the IBM Blockchain to create an exchange for trading carbon credits.”
  • The Invisible Selling Machine
    – Fortune – “From the unlikely setting of Ottawa, Shopify has quietly been powering an e-commerce revolution. Founded in 2004, Shopify (SHOP, +3.08%) has close to 2,000 employees—1,500 of them added in the past two years—and offices in five cities. Revenue in 2016 was $390 million, up almost 100% from 2015; it’s projected to grow 50% this year (it had a $37.2 million operating loss in 2016 but expects to be profitable this year). “
  • China Bitcoin Rules Would Require Exchanges to Verify Clients’ Identity
    – Wall Street Journal – “China’s central bank is moving to regulate its domestic bitcoin industry, circulating new guidelines that, if enacted, would require exchanges to verify the identity of clients and adhere to banking regulations.”
  • UNIONPAY TO ISSUE NFC AND EMV CARDS IN PAKISTAN
    – Cards International – “UnionPay International, a wholly-owned subsidiary of China UnionPay, has signed an agreement with Dubai Islamic Bank Pakistan (DIBP) to issue UnionPay QuickPass (NFC) and EMV chip cards in Pakistan. With this agreement, DIBP will become the first Islamic bank in the country to issue UnionPay QuickPass (NFC) enabled cards that will allow customers to make contactless payments.”

ON THE WIRES

  • MoneyGram Board of Directors Determines Unsolicited Proposal from Euronet Worldwide Could Reasonably Be Expected to Result in a “Company Superior Proposal”
    – “MoneyGram (NASDAQ: MGI) announced today that its board of directors, after consultation with its outside legal and financial advisors, has determined that the unsolicited proposal received on March 14, 2017 from Euronet Worldwide, Inc. (“Euronet”) (NASDAQ: EEFT) to acquire all of the outstanding shares of MoneyGram Common Stock and Preferred Stock for $15.20 per share in cash on an as-converted basis (the “Euronet Proposal”) could reasonably be expected to result in a “Company Superior Proposal” as defined in MoneyGram’s merger agreement with Ant Financial Services Group (“Ant Financial”).”
  • 3dcart Integrates with Square for eCommerce Payments
    – “The integration allows for next-day direct deposits, enables the merchant to accept all major credit cards at a single rate, and facilitates integration of reporting between online and offline sales. Merchants will now have the option to seamlessly use 3dcart’s full-featured online store platform together with Square’s payment gateway.”
  • Synchrony Financial to Broaden Cutting Edge Mobile Commerce Solutions for Retailers Through its Acquisition of GPShopper
    – “The transaction further demonstrates Synchrony Financial’s commitment to bringing its partners enhanced digital offerings supported by advanced mobile application development and robust technology, data and analytics. Adding GPShopper’s mobile development expertise will be an integral part of Synchrony Financial’s efforts to further expand its mobile engagement capabilities.
  • Mitek to Enable B2B Mobile Deposits on Ariba® Network
    – “Mitek (NASDAQ:MITK) (www.miteksystems.com), a global leader in mobile capture and identity verification software solutions, today announced that it intends to enable B2B mobile payments on the Ariba® Network, the world’s largest, most global business-to-business trading platform.”

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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 – March 20, 2017
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