On the Web:
- First Data’s Star Network Casts Its Lot With Visa’s Identifier for Chip-Card Transaction Routing - Digital Transactions - "Operationally, complying with Durbin’s routing requirements is easy to do with mag-stripe cards but difficult with EMV cards."
- A Giant Step in the Right Direction - First Data Blog (Barry McCarthy) - "We’re pleased to lead the effort toward better security in payments by being one of the first debit networks to take this step and assist issuers, acquirers, and merchants with equal access to a shared EMV chip card technology."
- BookFresh joins Square - Square Engineering Blog - "Today we are excited to announce that we have acquired BookFresh. BookFresh’s software helps local sellers create a seamless, self-service appointment booking experience that connects them instantly with new and existing customers."
- Square acquires BookFresh - BookFresh Blog - "Together, we can bring simple tools to local sellers everywhere and help them grow their business."
- Credit cards: Stripe and swipe or PIN and chip? - National Retail Federation's Blog - "PIN and Chip prevents credit card fraud … and protects you. The safest cards deploy both PIN and Chip technology.”
- EU Accepts Visa Europe's Offer to Cap Its Inter-Bank Fees - Wall St. Journal - "Europe's largest card payments company will cut the fees it charges retailers to 0.3% of the value of each transaction, a reduction of between 40% and 60%, the European Commission said."
- BlackBerry Eyes BBM as a Way to Send Money - Re/code.net - "BlackBerry is exploring whether it might be able to expand use of its BBM service as a way to transfer money in emerging markets..."
- Issuers See the Light with Prepaid - TMG Blog - "Our company alone experienced a 97-percent increase in the number of clients offering prepaid products between 2012 and 2013."
- The Mt Gox bitcoin scandal is the best thing to happen to bitcoin in years - Guardian (Heidi Moore) - "It’s the stuff of thrillers, and it will probably be a great movie one day, but all that back-alley hacker drama was keeping Bitcoin mostly as a punchline instead of a serious currency."
- Japanese Regulators Take Closer Look at Bitcoin - Wall St. Journal - "Japan's chief government spokesman and a member of the central bank's policy board said authorities were looking into the regulation of bitcoin..."
- Welcome OpenID Connect - Google Developers Blog - "We’re putting our weight behind this new standard, providing formal support from its launch as well as building it into Google+ Sign-In."
- The M-Payment 'Duh Factor:' Try Figuring Out the Value First. No, Really This Time - MediaPost MoBlog - "Working with mobile tech platform Syniverse, MasterCard uses the customer’s phone geolocation to verify that the credit card user is more likely to be authentic. The platform requires that the customer’s cell phone be in close proximity to the credit card when it is being used."
On the Wires:
- NRF Welcomes Chase PIN And Chip Announcement - "NRF has encouraged uniform use of PIN and Chip for years, and urged Chase in recent meetings to make full use of the double layer of protection these cards offer. We’re pleased that they have seen the advantage of doing that and hope Chase will issue all of its new cards as PIN and Chip."
- Chase Adopts Pew’s New Model Disclosure for Chase Liquid® - “Chase Liquid was built on the premise of being simple and easy to understand, so the Pew disclosure form is perfectly aligned with this product."
- U.S. Department of Commerce and eBay Inc. Announce Partnership to Promote U.S. Exports and Trade - "The joint effort will focus on increasing awareness of the economic benefits of trade, specifically the important role that small and medium-sized enterprises (SME) can play in growing America’s export economy."
- Antitrust: Commission makes Visa Europe's commitments to cut inter-bank fees and to facilitate cross-border competition legally binding - Vice President Almunia said: "The cap on inter-bank fees for Visa Europe's credit cards and the commitments ensuring cross-border competition are excellent news for European consumers, since the fees paid by retailers end up on their bills. Today's decision adds to what has already been achieved through the Commission's antitrust investigations concerning inter-bank fees."
- Visa EU: Mobile payments in Europe gather momentum - "Reflecting the move towards consumers being able to pay simply wherever they are, with whatever device they choose, Visa has partnered with players across the mobile and payment industries to offer consumers a choice of secure, state-of-the-art services to help them pay, be paid and manage their money."
- StraightPay® to Launch Payment App That Rewards Businesses and Customers, Partners with The Jason Kidd Foundation in Paying it Forward™ - “As business owners, we were determined to find a way to limit credit card fees and Pay It Forward™ to our customers."
- Target Reports Fourth Quarter and Full-Year 2013 Earnings - "At this time, the Company is not able to estimate future expenses related to the data breach. Expenses may include payments associated with potential claims by the payment card networks for alleged counterfeit fraud losses and non-ordinary course operating expenses (such as card re-issuance costs), REDcard fraud and card re-issuance expense, payments associated with civil litigation, governmental investigations and enforcement proceedings, expenses for legal, investigative and consulting fees, and incremental expenses and capital investments for remediation activities."
Updates from Glenbrook:
- Glenbrook Payments Boot Camps: March 18-19 in New York; May 6-7 in Palo Alto, CA.
- The Kindle edition of our book "Payments Systems in the U.S. - Second Edition" - is now available in the Kindle Store as well as in an iBooks version for your iPad or Mac in the iBooks Store.
- Feedback: How are we doing for you? I'd love to hear from you - drop me a quick note: email@example.com or leave me a voicemail: +1.650.469.3421.
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