On the Web:
- Reserve Bank of India moves to enhance mobile payments market FT.com
- The keys to driving broad consumer adoption of digital wallets and mobile payments - McKinsey Consumer Insights - "Our survey found that seven of every ten consumers believe strongly that mobile payments at the point of sale (POS) will be widely available in three to five years. They anticipate a future in which they use a favored digital wallet to complete purchases at national and online merchants..."
- Credit card details on 20 million South Koreans stolen - BBC - "Early reports suggest that the contractor got hold of the giant trove of data thanks to the access Korea Credit Bureau enjoys to databases run by three big South Korean credit card firms."
- Security Firm Identifies Alleged Target Malware Creator - Digital Transactions - "IntelCrawler’s announcement coincided with additional details that also surfaced Friday."
- Why are American credit card companies using outdated technology? - Maarketplace (audio) - "Today we're looking at why American banks and retailers are still using the same old magnetic strip cards, instead of more secure chip and pin cards commonly used abroad."
- In A Global Economy, Why's It So Expensive To Transfer My Money? - NPR Parallels - "Two weeks in London, and I've already found that American expats trade banking horror stories like crusty sailors comparing sharkbite scars."
- How an American Express Executive Drives Growth - HBR Blog Network - "As group president of enterprise growth at American Express, Dan Schulman is trying to expand the brand to serve non-affluent customers who he says are paying too much for existing financial services."
- How bitcoin makes transactions cheaper - Medium (John Henderson) - "Bitcoin’s fundamental innovation is to obviate the need for a 3rd party to be involved in the transaction. It allows you to securely and anonymously transfer money to anyone, anywhere in the world."
- Bitcoin — boom or bubble? - Washington Post (Robert Samuelson) - "Ours is an era when technologists are leading us in directions that neither they nor we fully understand. That’s why it’s so hard to know whether Bitcoin represents constructive innovation — or just another old-fashioned swindle."
- Banking will be transformed – by technology, not politics - Guardian - "The revolution in banking is happening online – not in the high-street branches"
- Why I Stopped Using Regular Banks For Two Weeks - "I spent the first two weeks of this month ignoring my conventional Capital One checking account. Instead, I did all my banking through a company called Simple."
- Judges thrust into debit-card war - The Hill - "Representatives from the financial industry made their case Friday that the original ruling must be tossed, allowing the Fed to put in place higher caps."
- South Korean Bitcoin Exchange Nets $400k in Silicon Valley Funding - CoinDesk - "South Korean bitcoin startup Korbit has announced that it will receive $400,000 in funding from various Silicon Valley investors."
On the Wires:
- McDonald’s Launches McD App for Smartphones Throughout Northern Nevada Area - "McD App utilizes location-based services to provide consumers with deals and offers accessible direct from their mobile device and has the ability to tailor future offers and deals based on a user’s preferences and purchasing behaviors."
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