Red Herring reports on the battle between eBay and Taobao in China.

“It’s a bit like the early days of the Internet,” says Paul Waide, an editor at Shanghai-based analyst firm Pacific Epoch. “They’re using metrics that don’t really mean anything. What everyone wants to know is how they’re going to turn those into revenues.”

By that he means Taobao doesn't yet have a business model -- it doesn't yet charge for the transactions it handles prompting the folks at eBay to point out that "free is not a business model." The parallel here is Japan where eBay ultimately lost the market to Yahoo! Japan who pursued a similar free listing strategy. Both Yahoo! Japan and Taobao are backed by Softbank.

Forrester's Michelle de Lussanet writes about yesterday's announcement that Simpay is shutting down.

The wait for a pan-European mobile payment scheme just got longer, with Simpay's announcement that it will not go ahead with its pan-European development. Forrester isn't surprised: The mobile channel isn't suited for large-scale payment collection because it's too unreliable and too expensive.

The Japan Times reports on losses resulting from the recent security breach at CardSystems Solutions.

The Tokyo office of Visa International Inc. said it has so far found the illicit use of 838 Japanese credit cards issued jointly with Visa, including 658 cases considered to have involved counterfeit cards at retailers. Losses caused through the use of forged cards totaled 79 million, yen or 86 percent, of all losses from unauthorized use following the theft of card information, the office said.

Leslie Walker reports for the Washington Post on eBay's 10th anniversary celebration.

Gary Neubert, a Tampa resident who has sold shipping supplies on eBay since 1999, said he has been steadily building traffic to his own Web site to bypass eBay's commissions whenever possible. Half his sales today come through his own site, he said. Neubert said he and others are increasingly exploring options outside eBay.

Verne Kopytoff takes a look behind the scenes for the San Francisco Chronicle.

• Seattle Times: Credit Card Data Breach Extends to Northwest

Note: This posting is updated regularly throughout the day.