Stripe Acquisition, PayPal Partners: News Roundup

Payments
Stripe Acquisition, PayPal Partners: News Roundup
Payment Facilitator Mobile Business Compliance Security Payments Industry
Stripe Acquisition, PayPal Partners: News Roundup
In a roundup of this week’s news, Stripe makes an acquisition, PayPal announces more relationships, and the use of cards has surpassed cash usage in one more country.

Leading payment facilitator Stripe announced that it is acquiring Payable to help make tax reporting easier for platforms and marketplaces

Paytm Delists 85,000 Sellers in Cautionary Tale for New Marketplaces

Payments
Paytm Delists 85,000 Sellers in Cautionary Tale for New Marketplaces
Payment Facilitator Mobile Business Compliance Security Payments Industry
Paytm Delists 85,000 Sellers in Cautionary Tale for New Marketplaces
Indian online marketplace Paytm Mall has said it is delisting 85,000 sellers as part of an effort to improve the customer experience on its site.

The move is a result of revising its onboarding process to better catch fraudulent sellers. The delisted merchants did not meet the new standards.

QR Code Use Expanding with New Global Specification

Payments
QR Code Use Expanding with New Global Specification
Payment Facilitator Mobile Business Compliance Security Payments Industry
QR Code Use Expanding with New Global Specification
In another sign that QR code payments are gaining ground globally, EMVCo has released its first QR code specification.

China’s payment network UnionPay, a member of EMVCo, led the working group that developed the specification, the company said in a press release, calling it “the first globally interoperable technical solution for QR code payment.”

Streamlining of State Regulatory System Continues, Slowly

Payments
Streamlining of State Regulatory System Continues, Slowly
Payment Facilitator Mobile Business Compliance Security Payments Industry
Streamlining of State Regulatory System Continues, Slowly
The varied state approaches to money transmitter laws are a common headache for many payment facilitators. Affected companies dream of a uniform system, where adhering to the requirements in one state means that you can operate in other states as well.

The road to that system is long, but the good news is, baby steps down the path are continuing.

European e-Commerce, Contactless Transactions in London: News Roundup

Payments
European e-Commerce, Contactless Transactions in London: News Roundup
Payment Facilitator Mobile Business Compliance Security Payments Industry
European e-Commerce, Contactless Transactions in London: News Roundup
Leading payment facilitators are continuing to expand their presence and the capabilities they offer their merchant customers in this roundup of the past week’s news from around the industry.

Leading payment facilitator Shopify announced that it would enable checkout directly on its merchants’ domains, rather than redirecting customers to checkout.shopify.com for purchase completion. The company said that the capability would be free for all merchants and would be activated automatically.

Visa to Invest in Klarna

Payments
Visa to Invest in Klarna
Payment Facilitator Mobile Business Compliance Security Payments Industry
Visa to Invest in Klarna
Visa and Klarna announced on Tuesday that the card network plans to invest in the Stockholm-based company.

The move comes at a time when Klarna – which has 60 million consumer and 70,000 retailer customers – has said it is looking to expand its product offerings and challenge the financial services status quo on a larger scale.

U.K.: Contactless Payments Reach Halfway Point

Payments
U.K.: Contactless Payments Reach Halfway Point
Payment Facilitator Mobile Business Compliance Security Payments Industry
U.K.: Contactless Payments Reach Halfway Point
Recent surveys from the U.K. again highlight the difference between the market for contactless cards there vs. in the U.S.

A survey from Barclaycard says that British consumers now use contactless payments for more than half (51%) of their transactions under the limit of 30£.

Social KYC: Ignore It At Your Own Risk

Payments
Social KYC: Ignore It At Your Own Risk
Payment Facilitator Mobile Business Compliance Security Payments Industry
Social KYC: Ignore It At Your Own Risk
Payment facilitators have many tools at their disposal to help them understand the risk of taking on a particular merchant’s business during underwriting. In many cases, though, the tools rely on information provided by the merchants themselves.

To validate that information merchants have provided, however, PFs have a vast resource for fishing out the true nature of the merchant’s business and the identities of the people involved.

Enabling Cross-Border and Omnichannel Commerce: News Roundup

Payments
Enabling Cross-Border and Omnichannel Commerce: News Roundup
Payment Facilitator Mobile Business Compliance Security Payments Industry
Enabling Cross-Border and Omnichannel Commerce: News Roundup
Much of the news over the past week has focused on enabling merchants to be everywhere. Several companies, including Wirecard and iZettle, have launched products to allow selling across borders using preferred local payments methods or unifying the consumer experience across mobile, e-commerce and the physical point of sale.

We also have news from Mastercard and an acquisition for Blackbaud in this week’s roundup.

The Industry Embraces Intent-Based Networking

Networks
The Industry Embraces Intent-Based Networking
Apstra Blog
The Industry Embraces Intent-Based Networking

This is a really big week for Apstra — the CEO of the largest networking company in the world gave a ringing endorsement and stated that Intent-Based Networking is the future of Cisco and of the industry — it really cannot get much better than this!

Chuck Robbins personally introduced “Cisco’s new network, powered by intent.” To quote him, “Let’s think about a financial institution that wants to ensure that the top tier of the customers have the best experience. Today the way that works is that they define quality of service and they have hundreds of engineers who would go through and deploy those lines of code throughout the infrastructure. With intent-based infrastructure, the customer describes the intent (…) and through automation and machine learning the network will deploy that intent in an automated way in a matter of moments, and over time the network will adapt and learn using machine learning so that it can optimize that experience for the customer of the bank based on the policy and the intent that the bank defines.”

That is indeed intent-based networking, which Apstra pioneered as part of our founding vision back in 2014. The operator defines business intent and through automation and closed-loop telemetry, the infrastructure delivers on this business intent in a matter of minutes. In the process, operational expenses are reduced massively through a reduction in the inefficient manual work which consumes 80% of operators’ time today. And we move from inefficient box-by-box, manual operations to system-level, intent-based operations. The ultimate goal is to deliver on the vision of a self-operating network, which Apstra defines as a network that configures itself, monitors itself, fixes itself, and documents itself.

We invited the industry to join us on our journey, and they are! In February of this year Gartner published a report called Innovation Insight: Intent-Based Networking Systems (IBNS) and created a new category and market opportunity. In the report, they call our flagship product Apstra Operating System (AOS) the only full Intent Based Networking System available; and this week, Cisco launched intent-based networking products which it called “one of the most significant breakthroughs in enterprise networking”.

What we want to be really careful of though is that the community’s goals for Intent-Based Networking, and what we at Apstra sometimes call the ‘Self Operating Network,’ are not subordinated to any single vendor’s viewpoint. We watched what happened with the dilution of SDN and the purposeful confusion that was sown in the market with projects like Open Daylight while some vendors paid lip service to interoperability and standards. It is of paramount importance that we as a networking industry come together and vote with our voices and our spending power on a new order — one where vendors are held to high standards by the consumers, where we are pushed to work together and not lock anyone into a solution or system, and where, as Cisco employees have proudly worn on their badges for decades, there is ‘no technology religion.’

Our job is to innovate and push the boundaries of what our customers have thought possible, to build systems and features and capabilities that delight them and help them be ever more successful. If we do our jobs and deliver high quality products that amaze our customers and solve pressing business and IT challenges — we know we are going to be able to build a thriving and sustainable company at which the best and brightest engineers will be proud to work.

As we continue to lead the technical charge in building Intent-Based Networking systems it is important that we keep a clear eye towards that goal and what it really is — to build a system where the outcome is pre-defined and the configuration, cabling, and operating context are constantly evaluated against the operator’s goals. We aim to subordinate the atomic CLI, SNMP, and even XML configurations to a higher-order, the Intent. Intent defines what we really want, configuration is our attempt to achieve our Intent with the language and semantics that the vendors provide to us.

I’d like to thank Chuck Robbins from Cisco for recognizing what an incredibly powerful capability Intent-Based Networking is for all of the Cloud, Service Provider, Enterprise, and Small/Medium network operators out there. We sincerely hope that as Cisco joins this community they continue to add technical and market-focused capabilities and help usher in this next wave of networking.

If you’re still sitting on the sidelines of Intent-Based Networking Systems, this is the time to get in the game. I invite you to follow Gartner’s recommendation, “pilot intent-based networking solutions”, and “budget for it using improved network agility, increased network uptime, and/or better alignment with business initiatives as the funding drivers”.

Apstra is the only vendor that has a data center focused, vendor agnostic, full intent-based network system available today, and we would love to hear from you.

We look forward to celebrating this win for customers at @CiscoLive at our joint party with Packet Pushers, which we named “Intent to Party” (the pun is… intended!). So if you’re an IT professional, please schedule a 1:1 to see a demo at our booth and request an invitation to join us and learn more about Apstra and our intent-based networking solutions.

I would have normally said “see you there” as I would never miss such an event to celebrate with my fellow Apstrktrs and connect with our customers. But on a personal note we’re expecting our third daughter any day, and I am choosing to stay back in the Bay Area to support my family. I will certainly be with the team in spirit, as we redefine networking for the digital age.

Please read my guest blog titled “Intent-Based Networking Use Cases At #CLUS17” on Packet Pushers blog. Register for a 1:1 demo or stop by our booth #2925 to request an invitation for our Intent to Party!