On the Web:
- FinCEN’s Bitcoin Letter-writing Campaign - Virtual Currency Report - "Under FinCEN’s regulations, any entity engaging in money transmission must register as a “money service business,” or face potentially severe civil and criminal penalties."
- Exclusive: Overstock.com to Begin Accepting Bitcoin Second Half of 2014 - newsBTC - "This is a hugely important milestone in bitcoin history."
- Target’s Data Breach: What Customers Need to Know - WSJ Corporate Intelligence Blog - "If you shopped at Target over the Black Friday weekend and the weeks after, here’s what you need to know."
- EBay’s Strategy for Taking On Amazon - New York Times Magazine - "A key element of eBay’s vision of the future is the digital wallet."
- China Bitcoin Exchange CEO: We’re Not Giving Up Yet - AllThingsD - "The largest bitcoin exchange in China, BTC China, is in peril after regulators in the country reportedly moved to block payment processors from accepting the virtual currency."
- What happened in Payments in 2013 - ACI Universal Payments Blog (Paul McMeekin) - "Foolishly I predicted retailers would start to work with banks. With MCX’s recent statements at conferences, it looks like there is going to be a distinct separation of a retailer wallet and one that can be provided by the banks."
- Bitcoin Evangelists See Path to a Cashless Utopia - “We are at the Mosaic stage of bitcoin,” says Jeremy Allaire, CEO of Circle Internet Financial, a bitcoin-focused technology startup.
- $40 Million Target Data Breach Has Become a Card Data Fire Sale: Krebs - Bank Technology News - "There's a fire sale going on right now -- they lose value for every day they don't sell them."
- Why mobile retailers should ditch credit cards - VentureBeat - "Nobody wants to fill out 14 separate fields in order to complete a purchase! Credit cards were designed for the physical world..."
- Braintree Has Officially Joined PayPal - PayPal Forward blog (David Marcus) - "By maintaining Braintree as a separate service, PayPal will strengthen Braintree’s operations and expand its scope and scale without slowing its ongoing efforts to push the boundaries of what’s possible in mobile-first payments."
- Why much more consolidation is needed in the mobile payments market - GigaOm Research - "There are plenty of reasons for that lack of uptake: The market has been shackled by a variety of competing mobile payments systems and technologies, leaving consumers confused and retailers wondering which “solutions” to embrace."
On the Wires:
- NAFCU Urges Congress to Tackle Data Security - "NAFCU urges Congress to make the issue of data security a priority in 2014, including convening hearings on the data protection standards of merchants and what can be done to strengthen them."
- Major Nordic Banks Support Launch of MasterPass in Sweden - "Nordea, SEB and Swedbank – three of the leading banks in the Nordics, are now confirmed to launch digital wallets enabled by MasterPass™, the digital platform from MasterCard."
- eBay Inc. Completes Acquisition of Global Payments Innovator Braintree - "Braintree will now operate as a separate service within PayPal under the leadership of Braintree CEO Bill Ready, who will report to PayPal President David Marcus and has joined PayPal’s executive staff."
- SingTel and Boku Announce Direct Carrier Billing Partnership - "SingTel plans to expand this payment mechanism to other regional carriers within their group including Optus (Australia), Telkomsel (Indonesia), AIS (Thailand), and Globe (Philippines)." Allied Payment Network Partners with ACI Worldwide to Offer Same-Day Bill Payment Capabilities Through Picture Pay - "By seamlessly integrating with the ACI Bill Payment Engine, Picture Pay’s end users now have the added convenience of a same-day payment option to immediately process a bill payment."
- Visa Inc. Names Ellen Richey Chief Legal Officer - "Ms. Richey assumes the role following the departure of General Counsel Josh Floum, who has decided to leave Visa and return to private practice."
- Leslie Muma Joins FIS Board of Directors - “Les’ deep expertise as a thought leader and chief executive in the financial services industry for more than four decades will bring significant value to FIS and our board of directors,” said Frank Martire, FIS chairman and CEO.
- Profitero Reveals That Amazon.com Makes More Than 2.5 Million Price Changes Every Day - "With price the number one driver for value-conscious shoppers, Profitero’s analysis also reveals that Amazon.com has increased its number of daily price changes ten-fold over the last 12 months."
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