On the web:
- 'Virtual' Currencies Draw State Scrutiny - Wall St. Journal - "Companies using virtual currencies said they welcome the regulatory push because it helps legitimize the practice and build trust with users and investors."
- WHY DID CRIMINALS TRUST LIBERTY RESERVE? - New Yorker - "...markets can flourish even when there is no government to supervise them, and no legal way to enforce the rules."
- Why Bitcoin Will Change the World - Carol Realini - "Those who want to be involved with Bitcoin now need to be prepared to navigate this uncertainty."
- Why didn’t Bitcoin users freak out in May? - Washington Post - "And perhaps Bitcoin users got some good news in May, too."
- EMV To Spark Shakeout In Payments - Forbes - "…as merchants upgrade their Point of Sale (POS) hardware to be EMV-compliant by October 2015, it will force them to think of alternative payments at the checkout."
- Good news for Bitcoin in the wake of Liberty Reserve being shut down - Lightspeed Venture Partners - "…compliance with FinCEN guidance and other regulation is one of the three key elements for building trust in the Bitcoin ecosystem."
- Underweb Payments, Post-Liberty Reserve - Krebs on Security - "...there are several aspects of Bitcoin that make it especially unsuited for everyday criminal commerce."
- Why Bitcoin can benefit from respectability - GigaOm - "Anyone who thought Bitcoin’s use could remain entirely free of regulation was either kidding themselves, or …"
- BitCoin is a public ledger - Errata Security - "It makes things possible that have nothing to do with money."
- Consumer Spending Eases Amid Flat Wages - Wall St. Journal - "Personal spending, which measures purchases ranging from cars and clothes to health care and heating, fell 0.2% in April…"
- When FIs Should Recommend Prepaid Cards - The Members Group Blog - "Prepaid cards are the ideal “turn down” option for your FI to serve customers you would have previously been forced to turn away."
- MNO-led or bank-led? - Tomorrow's Transactions - "…should financial regulators allow mobile money to be offered by new market entrants, typically mobile operators – or should they restrict it only to those established financial service operators, the banks?"
- Just 13% of people are happy to store credit card details on smartphones - Econsultancy - "The report again highlights the consumer mistrust of mobile technology, as only 30% of consumers trust major retailers to keep their personal information safe."
On the wires:
- UK Cash Use Down 10% As New Ways to Pay Change Old Order - "…while over half of transactions (54.4 per cent) are paid in cash, use has declined as a percentage both of number of transactions (down 6.7 per cent) and money spent (down 9.7 per cent). This is the first time in the survey's 13 year history that both measures have seen a decline."
- Nexxo Financial Corporation Augments its Everyday Financial Services Platform with its New Consumer Mobile Application - "The big news is that there is a fast growing opportunity for a horizontal shopping experience that disrupts the traditional browser-based search business model…"