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June 28, 2013

Headline News from PaymentsNews.com - June 28, 2013

On the web:

  • India: Reserve Bank of India red flags 'virtual currency' - The Times of India - "Virtual currency schemes are different from electronic money schemes as the virtual currency being used as the unit of account has no physical counterpart with legal tender status."
  • Bitcoin: Are we looking at a revolution? - VentureBeat - "This is a sophisticated financial technology that has the potential to dramatically change the way we think about currency, remittance, fraud, and transactions."

Upcoming from Glenbrook:

  • Summer Camp! - A special summer session of our popular Payments Boot Camp - in Half Moon Bay on August 6th and 7th... Also, an optional half day course on Data In Payments - August 8th, also in Half Moon Bay. Join Carol, Scott and Russ for lively, interactive sessions - register now!
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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

June 27, 2013

Does PayPal Need a Bitcoin Strategy?

PaymentsViews logo 140pxOver on PaymentsViews.com, Glenbrook's Russ Jones share his thoughts on who needs a Bitcoin strategy - and, specifically, does PayPal need one?

MasterCard Introduces Simplify Commerce for US Merchants, Developers

MasterCard Logo 60pxhMasterCard has announced Simplify Commerce - calling it a "developer-friendly solution that gives merchants the power to accept electronic payments, which can lead to additional revenue and a larger customer base."

“As a technology company with a strong history of payments experience, MasterCard is always looking for ways to empower merchants to grow their businesses. We recognize the value that electronic payments bring to merchants, both large and small,” says Garry Lyons, Chief Innovation Officer for MasterCard.

“By offering straightforward integration tools to developers and streamlining the process for businesses to get a merchant account, Simplify Commerce makes it easy for merchants to deliver online and mobile payments experiences to their customers.”

Simplify Commerce offers APIs and SDKs in a variety of programming languages along with sample source code and engineering support at www.simplify.com and has a blog at http://blog.simplify.com. Simplify Commerce supports MasterCard, Visa, American Express, Diners Club and JCB acceptance. Fees are 2.85% plus 30 cents/transaction.

Introducing Clinkle

Clinkle 140pxExpressing his frustration with the world of payments, Clinkle founder and CEO Lucas Duplan announces the birth of Clinkle on the company's new blog:
The exchange of value is one of humanity’s most important inventions. But somehow, the way in which we transact hasn’t significantly changed in decades. Instead, it’s stood idle during the invention of the PC, the Internet, and the smartphone. In fact, most people around the world still rely on the same technology humans used centuries ago: paper and coins.
Duplan also includes his announcement of Clinkle closing a $25 million seed round "from an all-star cast of investors: Accel Partners, Andreessen Horowitz, Intel Capital, and Intuit Inc." and an illustrious group of individual investors. The company's press release announcing the financing is here.

Headline News from PaymentsNews.com - June 27, 2013

On the web:

On the wires:

Upcoming from Glenbrook:

  • Summer Camp! - A special summer session of our popular Payments Boot Camp - in Half Moon Bay on August 6th and 7th... Also, an optional half day course on Data In Payments - August 8th, also in Half Moon Bay. Join Carol, Scott and Russ for lively, interactive sessions - register now!
  • Follow Glenbrook Partners on LinkedIn! -

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

June 26, 2013

Square Introduces Square Market for Online Sales

Square logo 140pxSquare has introduced Square Market, a new online ecommerce marketplace for Square merchants to sell online. According to Square's description of Market, sellers are not charged a monthly, listing or setup fee for their online store in Square Market - just 2.75% per online sale. Items listed by Square merchants sync across their Square Register app and their online store.

The Wall St. Journal quotes CEO Jack Dorsey: "There's a blurring of the lines between offline and online commerce. "This is the next obvious step for us."

In an article titled "Square’s New Online Stores Could Make Twitter Where You Shop", Wired.com's Marcus Wohlsen writes "Square Market ... isn’t so much a destination—though Square does hope it will become one—but a platform-agnostic backend for social selling."

Headline News from PaymentsNews.com - June 26, 2013

On Twitter:

On the web:

On the wires:

Upcoming from Glenbrook:

  • Summer Camp! - A special summer session of our popular Payments Boot Camp - in Half Moon Bay on August 6th and 7th... Also, an optional half day course on Data In Payments - August 8th, also in Half Moon Bay. Join Carol, Scott and Russ for lively, interactive sessions - register now!
  • Follow Glenbrook Partners on LinkedIn! -

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

June 25, 2013

Visa EU: How to Profit from Next Generation Payments

Visa Europe has published a new white paper titled "How to profit from next generation payments - Lessons from the music businessVisa logo 60pxh" (PDF).

Peter Ayliffe, CEO of Visa Europe, comments:

Payments are now being impacted by the shift to digital in the same way the music industry was at the end of the 20th century. However, we can take a more direct road to a much better destination – a destination that will add value to all customers.

To do so, we need to:

  • positively embrace and lead the change;
  • build a new, open eco-system with new partners;
  • innovate to create value be securing new, more diversified, more sustainable revenue streams and a broader customer relationship.
The report begins: "Visa Europe is in the data business. When a Visa payment is made, all that is exchanged is data." Indeed.

Headline News from PaymentsNews.com - June 25, 2013

On the web:

On the wires:

Upcoming from Glenbrook:

  • Summer Camp! - A special summer session of our popular Payments Boot Camp - in Half Moon Bay on August 6th and 7th... Also, an optional half day course on Data In Payments - August 8th, also in Half Moon Bay. Join Carol, Scott and Russ for lively, interactive sessions - register now!
  • Follow Glenbrook Partners on LinkedIn! -

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

June 24, 2013

Headline News from PaymentsNews.com - June 24, 2013

On the web:

On the wires:

Upcoming from Glenbrook:

  • Summer Camp! - A special summer session of our popular Payments Boot Camp - in Half Moon Bay on August 6th and 7th... Also, an optional half day course on Data In Payments - August 8th, also in Half Moon Bay. Join Carol, Scott and Russ for lively, interactive sessions - register now!
  • Follow Glenbrook Partners on LinkedIn! -

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

June 21, 2013

A Look at State Money Transmitter Laws

RegBlog at the University of Pennsylvania posts about a recent paper by Kevin Tu, an assistant professor at the University of New Mexico School of Law, titled "From Bike Messengers to App Stores: Regulating the New Cashless World". In the paper, Tu argues that Internet and mobile payment organizations face considerable uncertainty about whether they are subject to state money transmitter laws.

In the absence of clear guidance, a number of services that accept customer payments on behalf of merchants in connection with the sale of the merchant’s goods and services have struggled with the question of whether their unique business models are subject to regulation."
Tu goes on to "call on state regulators and legislators to examine state money transmitter laws and clarify their applicability to Internet and mobile payment systems."

Headline News from PaymentsNews.com - June 21, 2013

On the web:

Upcoming from Glenbrook:

  • Summer Camp! - A special summer session of our popular Payments Boot Camp - in Half Moon Bay on August 6th and 7th... Also, an optional half day course on Data In Payments - August 8th, also in Half Moon Bay. Join Carol, Scott and Russ for lively, interactive sessions - register now!
  • Follow Glenbrook Partners on LinkedIn! -

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

June 20, 2013

Headline News from PaymentsNews.com - June 20, 2013

On the web:

On the wires:

Upcoming from Glenbrook:

  • Summer Camp! - A special summer session of our popular Payments Boot Camp - in Half Moon Bay on August 6th and 7th... Also, an optional half day course on Data In Payments - August 8th, also in Half Moon Bay. Join Carol, Scott and Russ for lively, interactive sessions - register now!
  • Follow Glenbrook Partners on LinkedIn! -

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

June 19, 2013

PayPal Finds Faster Mobile Check-outs Mean More Sales for Merchants

PayPal logo 140x60pxIn a blog post today, PayPal's Todd Martin writes about a recent mobile study conducted with four large merchants across consumer packaged goods, electronics, and the footwear/apparel verticals that found that "simply adding a PayPal button on a product page – versus only at checkout – could help mobile shoppers check out faster and lead to a significant increase in sales for merchants."

Headline News from PaymentsNews.com - June 19, 2013

On the web:

On the wires:

Upcoming from Glenbrook:

  • Summer Camp! - A special summer session of our popular Payments Boot Camp - in Half Moon Bay on August 6th and 7th... Also, an optional half day course on Data In Payments - August 8th, also in Half Moon Bay. Join Carol, Scott and Russ for lively, interactive sessions - register now!
  • Follow Glenbrook Partners on LinkedIn! -

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

June 18, 2013

UK Payments Council Launches Payments Roadmap Effort

UK payments road mapThe UK Payments Council has published its first ever Payments Roadmap – An Initial Report (PDF) - saying that it "spells out the Payments Council’s revolutionary approach towards assessing the options for building on the world leading payment services currently used by UK customers."

Adrian Kamellard, Chief Executive of the Payments Council said:

“Demands on our payments infrastructure have changed massively over the past two decades, and whilst our infrastructure continues to serve us well with technological innovation happening apace, it makes sense to take a step back and consider options in a systematic way.

“The Payments Roadmap will put the needs of those who make and receive payments before those who process them - whilst of course maintaining a strong emphasis on system resilience and performance.”

Headline News from PaymentsNews.com - June 18, 2013

On the web:

On the wires:

Upcoming from Glenbrook:

  • Summer Camp! - A special summer session of our popular Payments Boot Camp - in Half Moon Bay on August 6th and 7th... Also, an optional half day course on Data In Payments - August 8th, also in Half Moon Bay. Join Carol, Scott and Russ for lively, interactive sessions - register now!
  • Follow Glenbrook Partners on LinkedIn! -

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

June 17, 2013

So Where Does NFC Fit into Mobile Payments?

On a slow news day today in the world of payments, we noticed an interesting juxtaposition between a commentary titled "Back in the real world (well, West London)" that Consult Hyperion's Dave Birch posted about paying with PayPal at The Farmery frozen yoghurt shop in West London and an article by PayPal's CEO David Marcus on Huffington Post titled "So Long Cash Register, Hello Innovation".

Dave told the story about paying for for his yoghurt purchase using PayPal on his iPhone linking to The Farmery's PayPal Here app on their iPhone. Dave went on to say that "PayPal have made a real effort to produce a slick customer experience, and it makes you wish that other more conventional players in the retail payment world would do the same. There seems to be an attention to detail in what guys like this do, to be honest."

Dave is then compelled to ask: "Is it better than NFC?" He answers: "Yes it is better than NFC is, but it's not better than NFC could be." He goes on to describe how that better NFC experience might work: "Instead of opening my PayPal application, finding the shop and checking in, I could have just tapped the phone on the PayPal Here logo and had all three steps done for me." But, alas, it doesn't work that way today - in spite of "years of work and hundreds of millions in investment."

Meanwhile, PayPal's Marcus describes another version of the future - one that "can easily and cost-effectively transform a legacy cash register into an interactive point of sale solution that makes it easier to operate a business and adds to a truly enjoyable consumer experience rather than a mundane transaction."

Where do you think NFC fits into mobile payments? Feel free to add your comment below.

Headline News from PaymentsNews.com - June 17, 2013

On Twitter:

On the web:

On the wires:

Upcoming from Glenbrook:

  • Summer Camp! - A special summer session of our popular Payments Boot Camp - in Half Moon Bay on August 6th and 7th... Also, an optional half day course on Data In Payments - August 8th, also in Half Moon Bay. Join Carol, Scott and Russ for lively, interactive sessions - register now!
  • Follow Glenbrook Partners on LinkedIn! -

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

June 16, 2013

Bitcoin, the Two-and-a-Half Party Model, and New Payment Rails

PaymentsViews logo 140pxLast week, Glenbrook's George Peabody took a look at Bitcoin as a store of value in his PaymentsViews.com article "Considering Bitcoin’s Role in Value Transfer".

In a new article just published on PaymentsViews.com - "Bitcoin, the Two-and-a-Half Party Model, and New Payment Rails" - George looks at the potential for Bitcoin and other math-based currencies to become a new set of payment rails - with their promise of a simpler cash-like push payment.

George welcomes your comments - either via email to him: george@glenbrook.com or by posting a comment on the article's page on PaymentsViews.com.

Note: The potential implications of Bitcoin and math-based currencies on payments are among the topics we'll be covering in more depth at our Glenbrook Payments Summer Boot Camp coming up on August 6-7 in Half Moon Bay.

June 14, 2013

PayPal Offers Incentives for Merchants to Install Tablet POS

PayPal logo 140x60pxPayPal has provided more details of a new incentive program for its Cash for Registers program announced last month. Here are some of the details:

Starting on July 10th, 2013, PayPal is waiving transaction fees for up to $20,000 worth of transactions each month through January 31st, 2014 for a qualified small business owner who upgrades to a modern point-of-sale system by choosing either PayPal Here™ or one of our pre-integrated partners: ShopKeep POS or Vend.

Merchants who want to participate need to apply for PayPal Here, be approved and then submit proof of purchase of a minimum of $450 in eligible hardware. Once their submission is approved, the offer will apply to swiped credit card, debit card and PayPal payments processed by PayPal through PayPal Here, ShopKeep POS or Vend.

Looking ahead, PayPal said its planning to add more partners - both acquirers and POS vendors - to the Cash for Registers program.

Headline News from PaymentsNews.com - June 14, 2013

On the web:

Upcoming from Glenbrook:

  • Summer Camp! - A special summer session of our popular Payments Boot Camp - in Half Moon Bay on August 6th and 7th... Also, an optional half day course on Data In Payments - August 8th, also in Half Moon Bay. Join Carol, Scott and Russ for lively, interactive sessions - register now!
  • Follow Glenbrook Partners on LinkedIn! -

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

June 13, 2013

Square Introduces Square Wallet 3.0

Square logo 140pxSquare has released Square Wallet 3.0 to the Apple App Store. Calling it a "complete redesign. Square Wallet provides a sleeker, snappier payment experience at your favorite neighborhood businesses."

Headline News from PaymentsNews.com - June 13, 2013

On the web:

On the wires:

Upcoming from Glenbrook:

  • Summer Camp! - A special summer session of our popular Payments Boot Camp - in Half Moon Bay on August 6th and 7th... Also, an optional half day course on Data In Payments - August 8th, also in Half Moon Bay. Join Carol, Scott and Russ for lively, interactive sessions - register now!
  • Follow Glenbrook Partners on LinkedIn! -

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

June 12, 2013

Headline News from PaymentsNews.com - June 12, 2013

On the web:

On the wires:

Upcoming from Glenbrook:

  • Summer Camp! - A special summer session of our popular Payments Boot Camp - in Half Moon Bay on August 6th and 7th... Also, an optional half day course on Data In Payments - August 8th, also in Half Moon Bay. Join Carol, Scott and Russ for lively, interactive sessions - register now!
  • Follow Glenbrook Partners on LinkedIn! -

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

June 11, 2013

CFPB Explores Bank Overdraft Fees, Questions Overdraft Protection

Cfpb logo 140x60pxThe US Consumer Financial Protection Bureau (CFPB) has published a new report on bank and credit union overdraft practices that it says "raises concerns about whether the overdraft costs on consumer checking accounts can be anticipated and avoided."

The bureau found big differences across financial institutions when it comes to overdraft coverage on debit card transactions and ATM withdrawals, and said that drew into question how banks sell this account feature. The report also finds that consumers who opt in for overdraft coverage end up with more costs and more involuntary account closures.

Consumers need to be able to anticipate and avoid unnecessary fees on their checking accounts. But we are concerned that overdraft programs at some banks may be increasing consumer costs,” said CFPB Director Richard Cordray.

“What is often marketed as overdraft protection may actually be putting consumers at greater risk of harm.”

The report titled "CFPB Study of Overdraft Programs" is available here. A fact sheet about financial institution overdraft practices is also available from the CFPB.

iZettle's Newest Investor is Banco Santander

Izettle logo 60x60psiZettle has announced Banco Santander, the Eurozone’s largest bank by market capitalization, is making a strategic investment of more than €5 million in the company.

Millions of small business owners and professionals in the markets where we operate need an alternative to conventional credit card terminals, and simple software to manage and analyze their transactions,” said Ramón Tellaeche, head of Santander Cards at Banco Santander.

“We are strongly committed to innovation that satisfies emerging needs of our customers, we believe iZettle’s innovative mobile technologies will be crucial to those merchants’ near and long term success.”

iZettle’s app for accepting credit card payments is now available for download free of charge from Apple’s App Store or Google Play in the U.K., Spain, Germany, Sweden, Denmark, Norway and Finland and coming soon to more countries. iZettle’s Chip & PIN and Chip & Signature card readers can be purchased at iZettle.com.

Separately, iZettle also announced a partnership agreement with Santander UK for Santander's Business Banking unit to "offer a solution that includes the iZettle Chip & PIN reader, to its small business customers at a preferential rate, enabling them to accept card payments using their smartphones and tablets in a far more cost effective and flexible way than traditional card terminals."

The Future of B2B Payments - And How We Get There

PaymentsViews logo 140pxIn a post titled "The Future of B2B Payments – And Suggestions on How We Might Get There", Glenbrook's Erin McCune writes from London about a vision for the future of business payments that she's sharing today at Experian‘s Payments Strategy Conference 2013 - along with six suggestions on how we might get to fulfilling that vision.

Headline News from PaymentsNews.com - June 11, 2013

On the web:

On the wires:

Upcoming from Glenbrook:

  • Summer Camp! - A special summer session of our popular Payments Boot Camp - in Half Moon Bay on August 6th and 7th... Also, an optional half day course on Data In Payments - August 8th, also in Half Moon Bay. Join Carol, Scott and Russ for lively, interactive sessions - register now!
  • Follow Glenbrook Partners on LinkedIn! -

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

June 10, 2013

The Moves Toward Faster Payments

GP Logo Horizontal 140pxGlenbrook's Elizabeth McQuerry sends this note along:

Here at Glenbrook we’re closely following the moves toward faster payments taking place around the world. Nearly a year has passed since the NACHA community said "no" to speeding up the U.S. ACH (see Carol Coye Benson’s take on that vote here) but the discussion has not let up.

Now the folks at Digital Transactions have picked up the debate in their June edition, presenting views on why the NACHA initiative did not pass, why there is a need for speeding up the payments process, and the risks associated with faster payments.

What’s next? Recently we presented the views of other "payments geeks" on this topic as you had shared them with us. The article cites NACHA CEO Jan Estep: “Developing a ubiquitous solution, available to all financial-institution endpoints, is the goal”.

What are you seeing in the market? Are we getting closer to defining a clear direction for speeding up the tried-and-true but dinosaur-speed messaging and settlement that typifies retail payments in the US today?

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