A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.
Search Payments News
September 26, 2023
On the web
Xbox to Launch the Xbox Mastercard, Its First-Ever Credit Card in the U.S., Issued by Barclays
Mastercard
"Xbox, Barclays and Mastercard announced the Xbox Mastercard, Xbox’s first-ever co-branded credit card in the United States. The no annual fee card provides players points to redeem on Xbox games and add-ons, select streaming and dining delivery services, and more."
Square Unveils Over a Dozen New Features to Help Businesses Win this Holiday Season
Block
"Square announced a new suite of solutions designed to give sellers a competitive edge this holiday selling period ...Square is introducing House Accounts, a deferred payment account that business regulars and corporate clients can easily charge purchases to. When a seller is ready to settle up, they can quickly create an invoice for the outstanding balance and receive payment online via credit card, ACH payment, or Card on File. ."
Bank ABC Introduces JPM Coin Payments in Bahrain
Zawya
"Bank ABC has become the first Middle East bank to introduce faster cross-border payments to specific corridors for corporates and financial institutions using JP Morgan’s Coin Systems. Coin Systems is a blockchain-based permissioned system that serves as a payment rail and deposit account ledger and sits within Onyx by JP Morgan."
WhatsApp Adds Rival In-App Payment Options in India Commerce Push
Reuters
"WhatsApp said that it will offer credit card payments and services from rival digital payment providers within its app in India, the latest bet by the Meta-owned service to boost commerce offerings in its biggest market...Meta is also expanding its Meta Verified subscription program to businesses globally, giving companies a mechanism to validate authenticity and elevate their content in users' feeds, a separate blog post said."
Fujitsu Launches New Technologies to Protect Conversational AI from Hallucinations and Adversarial Attacks
Fujitsu Global
"Fujitsu announced the launch of two new AI trust technologies to improve the reliability of the responses from conversational AI models. The newly developed technologies include a technique to detect hallucinations in conversational AI models – a phenomenon in which generative AI creates incorrect or unrelated output – and a technique jointly developed to detect phishing site URLs implanted in the responses of the AI through poisoning attacks that inject false information."
On the wires
MoneyGram Announces Plans to Launch Non-Custodial Digital Wallet
PR Newswire
"Debuting in Q1 2024, the wallet will enable consumers to leverage stablecoin technology to seamlessly move from fiat to digital currency, to fiat again."
September 25, 2023
On the web
European Payments Initiative Selects “wero” as Commercial Name for its Innovative Digital Wallet
European Payments Initiative
"The European Payments Initiative (EPI) is proud to announce the selection of “wero” as the commercial name for its ground-breaking digital wallet solution. This strategic initiative aims to deliver a European digital payment solution built to meet evolving payment needs and to provide a seamless and user-friendly payment experience to consumers and merchants across Europe."
A New Bill Could Reduce the Fees Shop Owners are Charged When Customers Swipe a Card
NPR
"Retailers have long complained about so-called "swipe fees" on credit cards. And now there's a showdown in Congress that pits retailers against the credit card industry. What's at stake for shoppers?"
Sibos TV: Swift & Visa's Collaboration to Streamline International B2B Payments [Video]
YouTube
"Swift and Visa have announced a partnership to streamline international business-to-business payments, providing financial institutions and their customers with more choice when sending money across borders, while improving the end-to-end speed and transparency of their transactions. Chris Newkirk, Global Head of New Flows, Commercial and Money Movement Solutions at Visa and Thierry Chilosi, Chief Strategy Officer at Swift join Sibos TV shed a light on the collaboration and how it will benefit the industry."
Sibos TV: How ISO 20022 Will Revolutionise the Payments Industry [Video]
YouTube
"Payments are entering an exciting new era with the introduction of ISO 20022 as the common language for payments worldwide. Pat Antonacci, Chief Customer Experience Officer at Swift discusses how ISO 20022 will help financial institutions better understand their customers, make quicker and better decisions and improve services to customers."
Sibos TV: Future-Proofing Financial Services and Platforms [Video]
YouTube
"Customers want simple, efficient and reliable solutions for their financial needs. Jim Fanning, Director of Global Financial Services at AWS and Gurreet Sidhu, CIO, North American Treasury & Payment Solutions at BMO, discuss the modernisation journey to update services, architecture and platforms to continuously meet customer expectations in a rapidly changing world."
On the wires
Affirm Is Exploring Subscription Service to Guarantee 0% APR on Purchases
Businesswire
"Affirm Holdings Inc. is exploring the introduction of a subscription service in a bid to create more recurring revenue beyond interest collected from its buy now, pay later plans."
Mercedes-Benz Teams up With Mastercard to Introduce Native In-Car Payments at the Pump: Pay by Fingerprint Directly in the Car With Mercedes Pay+
Businesswire
"Mercedes-Benz is joining forces with Mastercard to introduce embedded in-car payments at the point of sale. Customers will be able to use a fingerprint sensor in their car to make convenient and secure digital payments at more than 3,600 service stations in Germany. Mercedes-Benz is the world's first automaker to integrate Mastercard Secure Card on File for Commerce Platforms technology for online payments into its vehicles."
BigCommerce Revolutionizes the B2B Purchasing Experience with Launch of B2B Edition Invoice Portal
Businesswire
"BigCommerce announced the launch of its new B2B Edition Invoice Portal for large B2B suppliers, manufacturers, distributors and wholesalers to modernize the invoice payment process...The B2B Edition Invoice Portal provides an out-of-the-box invoice payment experience that allows B2B merchants to incorporate invoice payments into a centralized online purchasing workflow."
September 22, 2023
On the web
Sibos TV: Enabling Interoperability Between Private and Public Blockchains
YouTube
"Tokenised assets have the potential to become a new source of value within the financial industry, but to make this possible, private and public blockchain interoperability must be enhanced. Sergey Nazarov, Co-Founder of Chainlink and Jonathan Ehrenfeld, Head of Securities Strategy at Swift talk about recent experiments with more than a dozen of the world's largest financial institutions to make this a reality."
Sibos TV: Eliminating Friction in the Payments Processing [Video]
YouTube
"There are many complexities for banks processing incoming payments, from document checks to ensuring the purpose of the transaction is correct. Nicholas Soo, Regional Head of Payment Products, Global Payment Solutions Asia at HSBC shares an in-depth look into how using payment pre-validations can reduce friction in payments processing and result in fewer delays."
Sift Unveils New PayPal and Adyen Integrations, Automation Capabilities for Dispute Management and Payment Protection Customers
GlobeNewswire News Room
"Sift, announced new integrations and capabilities for its Dispute Management product, providing merchants with a more accurate, efficient, and effective way of managing chargebacks. The latest Integrations with PayPal and Adyen, allow Dispute Management customers to ingest chargeback data, dynamically deliver disputes according to network requirements, confirm dispute response delivery, and view win/loss outcome updates."
Ingenico and Diggecard Announce a Comprehensive Gift Card Solution for Acquirers Using PPaaS, Ingenico's Payments Platform as a Service
prnasia
"Ingenico, a global leader in payments acceptance solutions and Diggecard, a global provider of gift card expertise and technology, have announced that Diggecard's services are now available on PPaaS, Ingenico's innovative cloud Payments Platform as a Service...Digital gift cards can be distributed by SMS, E-mail or as a QR code and Diggecard also provides a full range of reporting capabilities that deliver analytical insights for merchants to better understand their customers."
On the wires
U.S. Bank Unveils Connected Partnership Network
Businesswire
"U.S. Bank today unveiled an online marketplace of third-party payment and treasury solutions that are fully integrated with U.S. Bank systems...Erario added, “Our vision at U.S. Bank is to deliver integrated, real-time payment solutions, which allow clients to experience embedded payment and reporting capabilities quickly and seamlessly.”"
September 21, 2023
On the web
Sibos TV: Better Preparing for T+1 Settlements [Video]
YouTube
"The move to T+1 in the US and Canada will have a significant impact upon settlement and post-trade processes, especially on cross-border payments. With reduced timelines for processing, Jonathan Ehrenfeld, Head of Securities Strategy at Swift and Samuel Riley, CEO of Clearstream Securities Services speak explain how better automation and new technology such as unique transaction identifiers can ease this transition."
Transaction Trends: How Real-Time Payments are Driving Innovation in the B2B Space [Video]
Raconteur
"Sean Pitman, head of product and commercialization at Visa Direct Europe, explains how the B2B payments landscape is shifting as payments technology improves and the financial services sector works to keep up with modern expectations."
Sibos TV: Harnessing the Power of Generative AI [Video]
YouTube
"As financial institutions launch pilot programmes exploring the use of generative AI, they must consider how to ensure their proprietary technology operates in a way that is open, trusted, targeted, and empowering. John Duigenan, General Manager of Financial Services, Global Industries, IBM Technology discusses how banks and financial institutions can harness the power of generative AI, and what their top considerations should be as they experiment with this powerful emerging technology."
On the wires
Nine of 10 Companies Face Problems with Payment Operations, 39% Still Manual, New Modern Treasury Research Reveals
Businesswire
"Modern Treasury, the operating system for the new era of payments, today released survey results from their annual The State of Payment Operations 2023 report showing that legacy payment operations continue to result in high rates of failed payments, slow payments, errors and lost time in finance departments to clean up issues."
September 20, 2023
On the web
Citi Develops New Digital Asset Capabilities for Institutional Clients
Citigroup
"Citi Treasury and Trade Solutions announces the creation and piloting of Citi Token Services for cash management and trade finance. The service uses blockchain and smart contract technologies to deliver digital asset solutions for institutional clients."
Square Enters the Cannabis Market in Canada by Partnering with Jane Technologies for eCommerce
Block
"Today, technology company Square announced a partnership with Jane Technologies, the premier online ordering platform service for cannabis dispensaries, solidifying plans to cater to cannabis sellers in Canada."
Amazon’s New Just Walk Out Cashierless Checkout System Uses RFID Tags to Track Apparel Purchases
TechCrunch
"Amazon today introduced a new version of its Just Walk Out retail technology that allows customers to skip the cashier lines when they make a purchase by having their payment card automatically charged."
Sibos TV: Exploring the CBDC Sandbox [Video]
YouTube
"Swift recently announced a series of major advancements in its development of an innovative solution for interlinking Central Bank Digital Currencies. Gues speakers sit down with Sibos TV to share details on their collaborative efforts to create a connector solution for central banks to integrate into their infrastructure."
Square CEO Alyssa Henry is Stepping Down, and Jack Dorsey Will Take Over For Now
CNN
"Alyssa Henry, the CEO of Square – a unit of Jack Dorsey’s fintech company, Block – will leave her post at the company next month. Dorsey, whose current title is Block Head and Chairperson, will take on an additional role of “Square Head."
Stripe Launches the Biggest Set of Upgrades Yet for Its Optimized Checkout Suite
Stripe
"Stripe, a financial infrastructure platform for businesses, added new features to its optimized checkout suite to help users increase their revenue by making it easier for their customers to complete a purchase. New features include: Access to more than 100 payment methods; An A/B testing tool that allows businesses to rigorously identify the best-performing payment methods; The Express Checkout Element."
PayPal Launches Off-Ramp Service to Streamline Web3 Payments
Blockonomi
"PayPal’s cash-out option, available on wallets, DApps, and NFT marketplaces, debuted on MetaMask. PayPal rolled out its new off-ramp service to simplify Web3 payment transactions, and thus make digital assets more accessible to customers."
Payments News
Give us your email address or link to our RSS feed and we’ll push the daily Payments News headlines to you.
Top Stories from Payments News
Glenbrook Payments Boot camp®
Register for the next Glenbrook Payments Boot Camp®
An intensive and comprehensive overview of the payments industry.
Train your Team
Customized, private Payments Boot Camps tailored to meet your team’s unique needs.
OnDemand Modules
Recorded, one-hour videos covering a broad array of payments concepts.
Glenbrook Press
Comprehensive books that detail the systems and innovations shaping the payments industry.