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IndustryUpdate
will be on enhancements to the company's operational
infrastructure and processes. Lemos brings more than
20 years of experience in the payments industry, the
company said.
McHugh to lead TSYS Merchant Solutions
Total System Services Inc. named Philip McHugh
as Senior Executive Vice President and President of
Merchant Solutions, effective May 1, 2017. He will report
directly to Pam Joseph, the company's President and
Chief Operating Officer. McHugh comes to TSYS with
more than 20 years of experience in international bank- the finance and accounting organizations. Thompson
ing and payments. Most recently he served as CEO of
Barclaycard Business Solutions.
Penebre new PointOS leader
PointOS appointed Dylan Penebre as its CEO. The
company stated that in 2011, it brought Penebre on
board due to his extensive POS-industry experience
and payment processing background, and he subse-
Views
Insider’sreport
on payments:
Mobile and the
democratization of
banking, payments
By Patti Murphy
ProScribes Inc.
obile technologies are coming into their
own. And I may be stepping out on a limb,
but it appears they are leveling the banking
M and payments playing field, at least from an
end-user perspective. Consider these recent data points,
developments and corporate strategies:
• PayPal Inc. reported it processed $31 billion in
mobile transactions during the last three months
20
quently revamped operations and increased annual rev-
enue fivefold. Under Penebre's leadership, the company
expects to continue to meet industry demand for EMV
(Europay, Mastercard and Visa) technology, Payment
Card Industry Data Security Standard-compliance, 24/7
support and subscription pricing options.
Thompson tapped by PaySimple
PaySimple hired Marc Thompson as its CFO. He will be
responsible for supporting the company's growth initia-
tives, driving its capitalization strategy and overseeing
has over 25 years of investment banking, private equi-
ty, and operational experience. Most recently, he was
Co-Head of Investment Banking at Oppenheimer &
Co. Previously, he was a Managing Director at CIBC
Capital Partners and served on several portfolio compa-
ny boards, advising on acquisitions and debt financing,
PaySimple noted.
of 2016, a whopping 53 percent increase over the
same period in 2015.
• Infiniti Research Ltd. predicted payments made
using mobile wallets will exceed $4 trillion a year
by 2021.
• Worldwide, global payments are expected to
rise 32 percent this year, to total $1.35 trillion,
according to U.K.-based Juniper Research Ltd.
• Square Inc. partnered with Apple Inc. to promote
Apple Pay, and has agreed to waive processing
• In two African countries, Kenya and Tanzania,
fees for the first $12,000 in Apple Pay transactions
at participating merchants.
over 25 million people are making payments via
mobile platforms supported by short message
service messaging.
• The Federal Deposit Insurance Corp. reported
used mobile devices to access those accounts in
that 31.9 percent of Americans with bank accounts
2015, up from 23.2 percent in 2013.
• The Federal Reserve reported that 24 percent of all
mobile phone users, and 28 percent of smartphone
users in the United States used the devices to
make mobile payments in 2015.
• Adoption of mobile banking and payments in the
United States is highest among the nation's fastest
growing demographic groups, according to the
Fed: millennials, Hispanics and non-Hispanic
blacks.