Payments On Fire
Payments On Fire® podcast series
is where payment issues are reviewed, dissected,
and batted around with industry leaders.
In other words, a good conversation
between payments geeks.

Latest Podcasts

Episode 185 – Fanning the Flames: Glenbrook Education Program

Glenbrook has provided payments education for over 15 years. In that time, over 35,000 payments professionals have attended Glenbrook workshops, including the popular Payments Boot Camp®. The Payments Boot Camp® provides a thorough overview of the global payments industry – an industry that is constantly changing. As you can imagine, the material for our workshops changes with it. 

Glenbrook’s Russ Jones joins Yvette Bohanan to discuss the refreshed Payments Boot Camp® agenda as well as the newly designed Advanced Payments workshop. Listen in for a behind-the-scenes look at how Glenbrook’s education content is curated and why certain topics may not be included at all. 

If you are interested in attending a Glenbrook workshop, below are upcoming opportunities to learn and network with your peers: 

Payments Boot Camp® – December 6 & 7, 2022 – Cupertino, CA

Advanced Payments – December 8, 2022 – Cupertino, CA

Payments Boot Camp® – February 7-9, 2023 –  Virtual 

 

(more…)

Episode 184 – Talking ACH with Michael Herd, Nacha

We talk about ACH a lot at Glenbrook (even coining the phrase “ACH is Hot”) and there’s a reason for that. More than 29 billion ACH Network payments were made in 2021, valued at close to $73 trillion. While ACH technology has been around for decades, modernization has made this system virtually unrecognizable from what existed in the 1970’s, and it continues to evolve. 

In this episode of Payments on Fire®, George Peabody and Yvette Bohanan are joined by Michael Herd, Senior Vice President of ACH Network Administration at Nacha. In the conversation, Mike walks us through the state of ACH, insights on volume and growth, and new Nacha operating rules. 

 

(more…)

Episode 182 – Steering the Fintech through Regulatory Waters – Cameron Peake, Restive Ventures

Becoming a fintech is no easy task. There’s the foundational idea, there’s the team, the market opportunity, macroeconomic conditions, and the necessary skills of running a business. Never easy and today it’s even tougher for new fintechs given rising interest rates, consumer hesitation, and the uncertain global economy. 

There’s also the make-or-break concern of regulatory compliance. 

In this Payments on Fire® episode, Cameron Peake, partner at VC firm Restive Ventures (recently renamed from Financial Venture Studio) joins Glenbrook’s Yvette Bohanan and George Peabody in a discussion on the regulatory and contractual issues fintechs face. 

Cameron’s firm takes a hands-on approach in helping their fintech investments navigate those complexities. And in these conditions, a guiding hand has to be a welcome value-add for a fintech looking for a VC partner. Smart money is always better than the clueless variety.

 

(more…)

Episode 181 – Michael Steinbach, Worldline

Join Wordline’s Michael Steinbach and Glenbrook’s Elizabeth McQuerry and George Peabody to hear the story of SEPA’s creation, the Single Euro Payments Area. You’ll also learn about Worldline, Europe’s largest processor.

It’s an amazing story. If you are concerned with how networks work, or thinking of building network-based processes, there are lessons here – and cautions.

Payments only work because there is a system that was built to move money between parties. How these systems work varies enormously but there’s got to be a system.

There is nothing trivial about building a new system. There is technology. That’s the easy part. There are national regulations to comply with – even new crypto-based systems have to contend with those.

But the hardest part may be getting incumbent competitors, typically banks, to agree on how the system behaves, the business rules for using it, its economic model, and the business case. The card system’s creation story addressed those concerns; our other systems get there eventually. For example, those realities have everything to do with how quickly, or slowly, the RTP Network is building volume.

In this not to miss Payments on Fire® episode, we are given a front row seat to the creation and development of the Single Euro Payments Area (SEPA), the Eurozone payment system that arose in the wake of the euro’s adoption. Worldline’s Head of Financial Services, Michael Steinbach, speaks to the head-spinning formative meeting of European bankers trying to make a SEPA reality. Michael’s observations on the role of a regulatory push are invaluable.

 

 

(more…)

Episode 180 – Fanning the Flames: Money20/20 Preview

 

Yvette Bohanan hosts Glenbrook’s Chris Uriarte, Cici Northup, and Joanna Wisniecka to discuss their attendance at the upcoming Money20/20 conference. Listen in to hear what noteworthy payments trends the team is paying attention to and what related themes they expect to surface at Money20/20. We’ll catch up with them after the conference to see what takeaways were most surprising or interesting. 

If you are attending Money20/20, we’d love to connect! Please reach out to Bryan, Chris, Cici, or Joanna on Our Team page or connect directly with them on LinkedIn.

 

 

(more…)

Episode 179 – Understanding US Payment Regulation with Jennifer Aguilar, Alston & Bird LLP

Most of us see payments innovation as the force that moves markets. That’s true when it comes to user experience and the tech that moves money. But it is government regulation and business contract rules that guide and control what financial services players can, and can’t, do with their shiny new tools. Or crusty old ones.

Regulation in the US is a complex, multi-layered reality for incumbents and fintechs alike. In this Payments on Fire® episode, Jennifer Aguilar, Sr. Associate at law firm Alston & Bird provides a crisp review of payment system rules, federal and state regulations, Regs E and Z, and more.

She addresses the headline grabbing concern faced by Zelle and other push payment providers regarding Reg E compliance. This new world of push payments comes with very different guardrails than the “zero liability” promise of the card system.So, join Jennifer, Glenbrook’s Yvette Bohanan and George Peabody for a fun primer on this complex and evolving topic. We will come back to it again in future episodes.

This is an acronym-rich topic. Here is how a few of this episode’s acronyms get spelled out:

BSA – Bank Secrecy Act
FinCEN – Financial Crimes Enforcement Network
AML – Anti-Money Laundering
KYC – Know Your Customer
BNPL – Buy Now, Pay Later

Episode 178 – Tokenization, Russ Jones

Glenbrook’s Russ Jones returns with George Peabody and Yvette Bohanan on this episode of Payments on Fire® to discuss tokenization – a substitution of a high value primary account number with a digit that, in many cases, looks just like the original PAN, but isn’t.

Tune in as they break down how tokenization works and the security it provides (amidst numerous cooking metaphors). 

 

(more…)

Episode 177 – Fanning the Flames: Durbin-Marshall Credit Card Competition Act

Merchants rejoice? Credit card interchange regulation is on the table with the Credit Card Competition Act of 2022. But the new rule proposed by Senators Dick Durbin and Roger Marshall is pretty unusual, and the researchers at Glenbrook have been hard at work trying to figure out what it means for the industry. How is it different from existing debit interchange regulation and credit interchange regulation in other jurisdictions? And how will players across the value chain react if the rule takes effect? Will anything really change? Glenbrook’s Justin Pituch joins Yvette Bohanan to discuss potential implications.

 

(more…)

Episode 176 – Fanning the Flames: PaymentsEd Forum 2022

 

Glenbrook’s Drew Edmond joins Yvette Bohanan on the show to recap his experience at the PaymentsEd Forum in Washington DC earlier this month. In addition to attending the conference, Drew also spoke on a panel about “How collaboration at scale can improve outcomes” with Jordan Kaplan from Groupon and Jonathan Lee from Netflix, moderated by Tyler Heun from checkout.com. 

Tune in to hear more about Drew’s panel discussion as well as the major topics of conversation around the conference “water cooler”. 

 

(more…)