11.28.16: Your morning briefing

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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:

Black Friday's mobile record: Mobile sales reached a record $1.2 billion during the Black Friday shopping event this year, according to a Quartz article citing data from Adobe. Including Thanksgiving day, that number spiked to $5.27 billion, according to the report, which said mobile contributed 36% of overall sales and drove the majority of visits to large retailers. The top sellers in toys included LEGO sets, Nerf guns and Barbie dreamhouses; in electronics, shoppers favored Apple iPads, Samsung and LG television sets and Microsoft Xbox consoles.

'You hacked': Terminals throughout the San Francisco public transit system displayed this message to riders on Nov. 26: "You hacked. ALL data encrypted." According to the local CBS affiliate, the hack took terminals and ticket kiosks offline, and the city's transit agency responded by waiving fare on Saturday while those systems were affected (actual transit lines remained operational). To some commuters, the hack was worrying; to others, it was a blessing. “I was like, is this part of Black Friday deal, or something?” one rider told CBS.

Ransomware's big social media push: Users of Facebook and LinkedIn are being targeted with a malware attack called Locky, which — true to its name — locks up and encrypts users' files before demanding a ransom of half a bitcoin ($365), Ars Technica reports. The malware hides in an image file that downloads to a target's computer via an exploit in the social networking sites, then activates when the file is accessed, Ars Technica reported, citing a report from the Israeli security firm Check Point. Though Locky has been around for much of the year spreading through Word documents and spam e-mails, in November it began its aggressive social media push.

Navy credentials lost: The U.S. Navy has disclosed a data breach dating back to October due to a compromised laptop, according to Engadget. The Navy is in the process of informing 134,386 current and former sailors that their names and Social Security numbers were potentially exposed in the breach. The compromised laptop was used by a Hewlett Packard Enterprise Services employee working on a Navy contract, according to the Navy.

From the Web (powered by Wiser)

Stripe's Valuation Nearly Doubles to $9.2 Billion
The Wall Street Journal
Stripe, whose software is used by businesses to accept and track digital payments, will be valued at $9.2 billion in a new funding round that is being completed, the company said.

OmnyPay finds its showcase with Kohl's Pay
Mobilepaymentstoday.com • Will Hernandez
OmnyPay debuted in 2014, but lacked the big-name retailer it craved to show off its capabilities. That changed last month when Kohl's added a mobile payments component to its app.

India's Modi calls for move towards cashless society
MUMBAI, Nov 27 (Reuters) - Indian Prime Minister Narendra Modi on Sunday urged the nation's small traders and daily wage earners to embrace digital payment channels, as a cash crunch following the government's surprise ban on high-value bank notes drags on.

More from PaymentsSource

Innovations ignite competition among fleet card providers
U.S. fuel cards were a relatively complacent niche until a few years ago, when a wave of consolidations and digital innovations transformed the $66 billion-plus industry into a hotbed of competition.

Network security can fail first with retailers' own employees
Whether or not retailers are properly guarding their payment hardware and their in-store networks, a bigger issue might just be the workers who have access to retail organizations' data — including both regular staff and temporary holiday workers.

Good subscription billing is a massive project, not a 'weekend undertaking'
As subscription services get more complicated, the technology required to send bills, process payments and execute marketing campaigns will become harder to manage.

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