On the web:
- Announcing the PayPal Commerce Factory - "Our main goal for these meetups is not to have this as the “PayPal Show”. Instead, we’re doing instead is creating meetups geared around open commerce topics..."
- Banks need to take on Amazon and Google or die - FT Opininon (Francisco González) - "Banks are losing their monopoly on banking."
- Viewfinder Joins Square - Square Engineering Blog - "The Viewfinder team will work on seller initiatives out of our New York office."
- PayPal Opens Doors to Digital Gifts Store - "What is PayPal Digital Gifts? It is a store that will give people the chance to purchase digital gift cards from a host of our partner merchants. We have one marquee merchant in the store today and will be adding more very soon!"
- Bitcoin Changes Hands In South Korea - WSJ Digits - "I believe Bitcoin has a potential to eventually replace the U.S. dollar,” he said.
- Cost cutting to blame for RBS's Cyber Monday card glitch, says union - Guardian - "Union leaders have claimed cost cutting was to blame for technical faults which left millions of Royal Bank of Scotland customers unable to pay for purchases and withdraw cash on Monday..."
- The Next Big Thing You Missed: This Man Wants to Clean Your Dirty Bitcoin Laundry - Wired - "The idea is not only to give Bitcoin businesses the means to weed out criminal activity, but to create a Bitcoin landscape that’s more palatable to the world’s regulators."
- How EMV Will Change Banking Fraud - Bank Info Security - "As U.S. banking institutions make the EMV migration, fraud will migrate from payments cards to areas such as check and first-party fraud, says Fiserv's Mike Urban."
- Simple But Effective Point-of-Sale Skimmer - Krebs on Security - "Recently, I encountered a fraudster selling a remarkably simple but brilliant POS skimming device that can be installed and removed in the blink of an eye."
On the wires:
- Shift to Electronic Payments Saves Mexican Government US$1.27 Billion Annually - "The study concluded that most of the savings came from lower fee payments to the numerous banks that had handled the decentralized, cash-based transfers; from the interest earned by not having to deposit funds in advance of payments; as well as reduced unauthorized or incorrect payments."
- Early Warning Launches Only Cross-Industry Solution Predicting Likelihood of First-Party Deposit Fraud - "Early Warning’s First Party Fraud ScoresSM for Deposit Account Monitoring is a score-based solution that predicts the likelihood of an existing consumer or business account owner committing first-party deposit fraud."
- C-SAM Launches Digital Wallet Solution Powered by MasterPass for Financial Institutions and Processors - "The new solution, available in all MasterPass-enabled markets, will enable financial institutions and processors to build their own wallet offering and deliver a seamless checkout experience for consumers shopping at MasterPass-enabled merchants."
- Blackhawk Network Acquires Germany-Based Prepaid Leader Retailo as Part of Ongoing International Expansion Strategy - "The acquisition adds over 40,000 new distribution locations, bringing Blackhawk’s total EMEA retail distribution network to approximately 70,000."
- AIRTAG and KFC Bring PayPal to the Fast Track Mobile Wallet - "Launched by KFC UK & Ireland and AIRTAG earlier this year, Fast Track enables customers to order and pay in advance for their meals before they arrive at the restaurant. Now, Fast Track users can login and check-out with PayPal making the transaction even faster and easier."
- KeyBank Selects EnCompass for Enhanced Commercial Card Management - "AOC Solutions ... announced today that Cleveland-based KeyBank has selected AOC’s EnCompass payments platform for its customers’ commercial card management and reporting."
- Oberthur Technologies Partners with mBank to Offer Mobile Branchless Banking in Emerging Markets - "Oberthur ... today announced its partnership with mBank, an entity affiliated to the PlaNet Finance group that aims to facilitate financial inclusion through mobile technology, to offer mobile branchless banking in emerging markets."
- YapStone Names Mobile Payments Veteran Tim Armandpour SVP of Engineering and Technology - "Most recently, Armandpour led the global engineering team at PayPal that developed the new consumer-focused PayPal mobile applications, pushed for the adoption of technologies that would modernize the web experience for PayPal’s customers, and developed the company’s digital goods and digital wallet products across desktop, tablet, web and mobile experiences."
- ACI Worldwide Strengthens Americas Leadership Team with Key Appointments - "ACI’s new executive appointments include: Andreas Suma, vice president & general manager for Latin America; Jonathan Lerner, vice president & general manager for US Banks; and Cliff Elam, vice president of Americas operations and planning."
Updates from Glenbrook:
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- Join Glenbrook's Carol Coye Benson and Scott Loftesness for our Glenbrook Payments Boot Camp on December 10-11th in Palo Alto, California! And stay for our Innovation in Payments Workshop on December 12th in Palo Alto with Russ Jones and Carol Coye Benson.
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