PAYMENTS ON FIRE RESOURCE CENTER
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Payments On Fire is the industry’s leading resource center for payments professionals. Here, you’ll find the resources and thought leadership that only Glenbrook’s experienced team can provide. Curated news stories, insightful opinion papers, provocative podcasts, and more – it’s all the thinking you need to stay competitive in a dynamic payments world.
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December 4, 2024
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Tokenization
Episode 253 - Glenbrook Partners: 2024 Payments Industry Trends Wrap Up
The Glenbrook partners reflect on key trends and challenges in the payments industry that shaped 2024 - from generative AI, open banking, the evolving regulatory landscape, and the rise of fast payment systems worldwide. And you can't get the Glenbrook team in a "room" without discussing ongoing fraud implications, orchestration in merchant payments, and the progress of tokenization. Tune in to hear insights from our industry experts on these themes and more as we wrap up the year and look towards 2025.
Pix Adds NFC Scanning, Device Biometrics to Brazilian Digital Payments Platform
Biometric Update
“Brazil’s pioneering instant payment system, Pix, is taking a step forward with the introduction of Pix by Approximation, a feature enabling contactless payments verified by biometrics. The system, set to roll out by February 28, 2025 and was developed in conjunction with Rede Itaú, represents the latest milestone in Brazil’s DPI journey.”
The Future of Payments Experiences for Sports Fans
JPMorgan
“The sports world is chasing ever more spectacular live experiences. Are payments emerging as the MVP? A new generation of stadiums are being built around the world, and they are centering on the fan experience, offering first-class amenities, retail options and leisure activities, underpinned by frictionless digital platforms.”
The Clearing House Raises Its Real Time Payments Cap to $10 Million—a 10X Increase
Digital Transactions
“The Real Time Payments network operated by The Clearing House Payments Co. said early Wednesday it will raise its transaction limit to $10 million, a tenfold jump from the current $1-million cap. The new limit will take effect Feb. 9, following a 60-day notice period required by The Federal Reserve.”
Mastercard Reaches ‘Agreement in Principle’ to Settle Mass UK Fees Case
Reuters
“Mastercard has reached an agreement in principle to settle a collective London lawsuit brought on behalf of British consumers over card fees. The global payments processor was facing a lawsuit brought by consumer champion Walter Merricks on behalf of approximately 46 million adults in the United Kingdom.”
Nationwide Incorporates Experian’s New Digital Income Verification Service
Open Banking Expo
“The UK’s largest building society Nationwide has become the first major lender to incorporate Experian’s income and employment verification service ‘Work Report’ into the mortgage application process to speed up checks.”
Intuit and Adyen Collaborate to Help Small and Mid-Market Businesses Get Paid Faster
Adyen
“Intuit announced a collaboration with Adyen to help small and mid-market businesses (SMBs) more easily manage electronic payments. The two companies will initially integrate Adyen’s embedded payment services into Intuit’s business platform through QuickBooks Online (QBO) which enables approximately 2.9 million invoices to be sent monthly in the UK.”
Payments Innovation Alliance Releases New Report Demystifying Cryptocurrency and Digital Payments
Business Wire
“Nacha’s Payments Innovation Alliance has published Diving into the Fundamentals of Cryptocurrency as a Form of Digital Payment. This resource outlines definitions, process flows and the role of participants in cryptocurrency.”
Announcing 2025 Federal Reserve Financial Services Fees and Payment System Enhancements
FRB Services
“Federal Reserve Financial Services’ (FRFS) plan for 2025 reflects our continued strategic focus of providing secure, best-in-class payment services that are the bedrock of our nation’s economy, benefiting businesses and individuals alike. FRFS customers can expect the following product and service enhancements…”
December 3, 2024
Ant Group Further Taps Payment Biz With Tap!
China Daily
“Alipay has expanded the nation’s payment services market, with its new product — Alipay Tap! — recently becoming available in Guangzhou, Guangdong province. With the service, which was introduced by Ant Group’s payment arm in July, users can make payments simply by keeping the phone screen unlocked and then tapping their smartphones against the cash […]
Commonwealth Bank Slugs Some Customers With Ridiculous New Fee to Withdraw Their Money in Shock Announcement [Australia]
Mail Online
“Australia’s biggest bank will soon charge some customers a fee if they want to withdraw their own money from branches. Customers of the Commonwealth Bank got a rude shock on Monday when the bank announced it was closing its ‘Complete Access Account’ and changing them to ‘Smart Access Accounts’. But the new account will include […]
Banks Hit Credit Card Users With Higher Rates in Response to Regulation That May Never Arrive
CNBC
“Banks that issue credit cards used by millions of consumers raised interest rates and introduced new fees over the past year in response to an impending regulation that most experts now believe will never take effect…On Nov. 22, CNBC reported that rates on a wide swath of retail cards have jumped in the past year, reaching as […]
PhonePe Launches Affordable Dengue and Malaria Insurance Starting at ₹59 per Year
PhonePe
PhonePe announced the launch of a new Dengue and Malaria Insurance Plan on its platform, starting at just ₹59 per year. This affordable health coverage plan offers comprehensive year-round coverage for medical expenses related to vector and air-borne diseases.
December 2, 2024
Orbital Unveils New Stablecoin Payments Dashboard with Cutting-Edge Consumer Payment Insights
PR Newswire
“Orbital, a multi-licensed leader in traditional and blockchain-based payment solutions, proudly announces the launch of its new Stablecoin Payments Dashboard, a first-of-its-kind tool providing unprecedented insights into stablecoin payment trends across innovative metrics.”
From Code to Cash: How Programmable Payments Are Shaping the Future of Finance
Atlanta Fed
“Today, we have low-code and no-code platforms that allow people with little to no coding experience to build apps. Just as programming has become easier, payments are becoming programmable, offering automation, simplicity, and flexibility.”
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