Welcome to the new PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web:

Worldpay's founder has a new venture: Worldpay founder Nick Ogden plans to launch ClearBank, a U.K.-based challenger bank. The U.K.'s Morningstar newswire reports Ogden has received a bank license, and the new institution will launch in the coming months. Ogden will be chairman of the bank, while former RBS senior manager Charles McManus will be CEO. ClearBank will provide financial services for financial technology companies and other similar ventures. RBS at one time owned Worldpay; it sold the company to Advent International and Bain Capital in 2009, and then listed on the London Stock Exchange in 2015.

Image: Bloomberg News
Image: Bloomberg News

Instant card replacement as a digital lure: ANZ says its customer report nearly 700,000 cards as lost or stolen each year, so the Australian bank has added a feature to its mobile wallet that automatically updates replacement card details as soon as the consumer reports the plastic card as lost or stolen, and consumers can keep their PIN provided the account has not been compromised. The strategy is to encourage use the bank's mobile wallet, as well as Apple Pay and Android Pay, by offering a convenience tied to the older payment type while still enabling payments while the new plastic card is issued and mailed.

Banking on mobile in India: Airtel has nationally launched a 'mobile payments bank,' which offers a suite of non-lending financial services. Livemint reports Airtel will take deposits, issue debit and ATM cards and execute online transactions, but will not make loans. Airtel's new service includes iOS and Android apps, and is supported by the company's presence in about 25,000 stores in India. Airtel's move is part of a formal government push to increase financial inclusion by issuing special 'payment bank' licences that fall short of full banking but are designed to speed time to market for startups and other companies. It's also worth noting that India's cash replacement policy has caused a rush to digital payments and led companies such as Paytm to accelerate their strategy in the country.

New rails for the app economy: The 'sharing economy' has become a favorite target market for payment technology companies, and a new financial venture has launched that caters specifically to app industry. Called Payment Rails, it offers a cloud-based platform for businesses to pay any company or person globally through what it calls a "mass payout API." Finextra reports Payment Rails, which started its beta test this week, is focused on online marketplaces, on-demand and sharing economy platforms, ad networks, affiliate platforms, app stores and businesses with international payment needs, putting it in an alternative payment industry that includes Activehours, Tipalti and WePay. Payment Rails charges a transaction fee of up to $1 for transfers in the U.S. or Canada, and $4 to 63 other countries—a discount from the normal bank fees of about $45 for similar transactions.

From the Web (powered by Wiser)

Mobile loyalty programs are the new modern currency
Mobile Marketer • Amelia Powell
With loyalty programs going digital and, in some cases, being the driving factor behind the retailer’s move to adopt and understand the power of mobile wallets, it is time that the industry rethinks the wallet.

Mobile payments market is projected to grow at a CAGR of 33.4%
Payments Cards & Mobile • Alex Rolfe
The mobile payments market is projected to grow at a CAGR of 33.4% from 2016 to 2022 and reach $3,388 billion by 2022. Mobile payment refers to the payment for goods or services or transfer of money through mobile/smartphones.

Verifone, FIS and Modo are creating a new way for consumers to pay with loyalty points
TechCrunch • Jay Donovan
Verifone, FIS and digital payments startup Modo announced a new system that will enable customers to pay for any merchandise they want using only accrued credit/debit loyalty points. The novel part of this system is that consumers can purchase anything they want.

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