On the web:
- M-Pesa fraud losses less that 1% - Safaricom - "Chief executive Bob Collymore said the money lost in M-Pesa fraud averages 0.006 per cent of the amount transacted which currently stands at Sh2 billion daily."
- Bitcoin Buzz Draws Western Union, MoneyGram - Fox Business
- Credit Unions: Reinvent P2P Lending - Ron Shevlin - "I’m just thinking about how smaller FIs are going to compete with the big ones for the coveted lending market."
- Fewer Bank Accounts May Lead to More Savings, Study Finds - NY Times Bucks Blog - "In this research, we demonstrate that individuals allocating their earnings to a single account saved more than those who spread their earnings across multiple accounts…"
- A new way to pay restaurant bills - Seattle Times looks at the "RAIL" payment system...
- The real opportunity for payment startups: simplicity - VentureBeat (Jon Soberg) - "Intermediaries, paperwork, antiquated systems, processes, and regulations still play a prominent role in today’s ecosystem."
- US PIN Debit Consolidation - Tom Noyes - "I have a strong bet that the US banks will consolidate around a single PIN provider within the next 18 months."
- Adam Davidson Explains Bitcoin To Stephen Colbert (video) - Planet Money
- Visa Europe is holding its Insights 13 Conference today - follow the news in Visa Europe's Twitter feed. See pictures from the conference on Visa Europe's Pinterest board.
- “Mobile is the end game”: VeriFone discusses the future of payments as a service - My-Retail Media - "Ultimately, retailers' business is about making a sale. You either need to take a payment or redeem that value to a retailer."
- Bitcoin exchange BitFloor halts operations, shuts down - CNet - "Bitcoin exchange BitFloor announced Wednesday it is closing its trading operations and plans to return its remaining funds to its users."
On the wires:
- DeviceFidelity Adds Multiple NFC Patents to its Extensive Portfolio, Totaling 40 Granted and Allowed Patents Worldwide - "DeviceFidelity’s extensive portfolio of patents covers the implementation and management of NFC technology, security and unique miniaturization and amplification solutions…"
- Moneris Solutions and LightSpeed to Provide Integrated Mobile Payment Solutions for Canadian Retailers - "Our partnership with Moneris represents an important milestone in Canadian retail, which has been newly empowered by mobile, iPad(R) and Mac solutions that engage customers in an interactive and re-energized shopping environment…"
- Mobile Users Well Aware of Fraud but, for Many, Convenience Trumps Security Concerns - "Users may be willing to accept risk now in favor of convenience, but this tolerance will weaken as fraud continues to grow."
- Alliance Data Reports Record First-Quarter 2013 Results - "Revenue increased 18 percent to $1.05 billion while adjusted EBITDA increased 18 percent to $357 million for the first quarter of 2013."