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« June 2, 2013 - June 8, 2013 | Main | June 16, 2013 - June 22, 2013 »

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!
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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 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?

Apple Introduces iCloud Keychain in Mac OS X Mavericks, iOS 7

Apple logo 140pxAmong many other new releases, features and hardware introduced by Apple today at its 2013 Worldwide Developer Conference in San Francisco is the new iCloud Keychain. Apple describes it this way:

Remembering your passwords can be a real pain. But now iCloud Keychain remembers them for you. It stores your website user names and passwords on the devices you’ve approved, protects them with robust AES 256-bit encryption, and keeps them up to date on each device. And it automatically fills them in whenever and wherever you need them.
Also included is a password generator that will suggest new hard to guess passwords and autofill of payment card information when checking out at eCommerce web sites.

Apple also introduced a new AirDrop sharing feature that will be included in iOS 7. Unlike NFC-based solutions used on some other smartphones that require two phones to be "bumped" together, AirDrop uses wireless connectivity (WiFi and Bluetooth) to exchange files, photos, etc. among iOS devices locally. No setup is required and the transfers are encrypted.

Apple also reported that it has over 575 million iTunes store accounts on file - noting: "We have more accounts with credit cards than any store on the Internet that we're aware of."

Free eBook: Introduction to Online Payments Risk Management

CatOhad Samet has published a new book - Introduction to Online Payments Risk Management - and he is making the digital version available free.

If you’ve been tasked with building a team to handle risk management for online payments (RMP), this practical introduction provides a framework for choosing the technologies and personnel you need.

Author and financial services executive Ohad Samet explains the components of payments risk management, and presents a coherent strategy and operational approach.You’ll learn the answers to questions you’re likely to encounter in the first 18 months of operation, with information that Samet has shaped and tested over several years in the industry.

You'll find the Kindle version available from Amazon here, other digital versions available from O'Reilly here.

Congratulations to Ohad (@ohadsamet)!

Headline News from PaymentsNews.com - June 10, 2013

On the web:

On the wires:

SEC Filings:

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 09, 2013

Considering Bitcoin's Role in Value Transfer

PaymentsViews logo 140pxOver on PaymentsViews.com, Glenbrook's George Peabody has a new post titled "Considering Bitcoin's Role in Value Transfer". George begins:

While the Bitcoin currency has strong commodity-like characteristics—gold does come to mind—it is the potential of Bitcoin in value transfer of all kinds and payments in particular that has caught our imagination.
For more Bitcoin, check out the new Bitcoin category we recently added here on PaymentsNews.com.

Headline News from PaymentsNews.com - June 9, 2013

New book for eCommerce merchants - available for pre-order:

  • Introduction to Online Payments Risk Management by Ohad Samet - "If you’ve been tasked with building a team to handle risk management for online payments, this practical introduction provides a framework for choosing the technologies and personnel you need. Author and financial services executive Ohad Samet explains the components of payments risk management, and presents a coherent strategy and operational approach."

On the web:

Upcoming from Glenbrook:

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!

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