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March 15, 2012

PayPal Launches 'PayPal Here' for Mobile Payments Acceptance

PayPal logo 140pxPayPal has announced PayPal Here, a new "global mobile payment solution that allows small businesses to accept almost any form of payment."

They can accept payments by swiping cards with a fully encrypted thumb-sized card reader, or use a phone camera to scan and process cards and checks. It also allows them to invoice directly from the mobile app and, of course, accept PayPal in a brand new way.

Official website with all the details is http://www.paypal.com/here/. The PayPal Blog also has a nice summary post with the mandatory how-it-works video.

BOKU Secures $35 Million Investment From NEA, Telefónica and Others

Boku logo 140x60pxBOKU announced that it has secured $35 Million in funding. Investors include New Enterprise Associates (NEA), Telefónica Digital, as well as previous investors.

“Payments are going mobile and we want to be at the forefront of this trend,” said Matthew Key, Chairman & CEO, Telefónica Digital. “BOKU has quickly established itself as a true innovator in the mobile commerce space and this investment gives us access to their tools, infrastructure and know how, ideally complementing our own mobile payments expertise. In addition to the investment we are also embarking on a global partnership with BOKU to enhance our operator billing capabilities and the overall payment experience through our future mobile wallet services.”

Additional participants in the round include Andreessen Horowitz, Benchmark Capital, DAG Ventures, Index Ventures and Khosla Ventures.

Discover Implements 2013 EMV Mandate in U.S., Canada and Mexico

Discover logo 140pxDiscover announced it is implementing a 2013 EMV mandate for acquirers and direct-connect merchants in the U.S., Canada and Mexico. "This industry alignment will streamline certification and deployment efforts and enable a manageable transition for all parties involved, including issuers, merchants and acquirers."

First Data Releases February 2012 SpendTrend

First data logo 140x60px First Data has released its First Data SpendTrend analysis for the full month of February 2012 compared to February 2011.

February’s overall year-over-year dollar volume growth was 8.9%, a healthy increase from January’s growth of 7.0%. Overall dollar volume growth continued its positive upward trend in February. Improving economic conditions provided consumers with more confidence and income to spend.

SpendTrend tracks same-store consumer spending by credit, signature debit, PIN debit, EBT cards and checks at U.S. merchant locations.

Headline News - March 15, 2012

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated.

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