On the Web:
- Time for smartcards - The Hill (John J. Mulligan - Target EVP/CFO) - "Since the breach, we are accelerating our own $100 million investment to put chip-enabled technology in place. Our goal: implement this technology in our stores and on our proprietary REDcards by early 2015, more than six months ahead of our previous plan."
- Congress Turns Its Attention to Data Breaches - Re/code.net (Amy Schatz - @Amy_Schatz) - "Three congressional hearings are scheduled for this week, including a panel on Tuesday which will include testimony from executives at Target and Neiman Marcus about recent hacking incidents."
- Chipotle Wants to Speed Up With Mobile Payments - Bloomberg BusinessWeek - "Chipotle is planning to invest $10 million to redesign its technology network and add mobile payments to its ordering app..."
- The Public Option in Banking - "The point of postal banking proposals is not any particular connection with the post office. Instead, these are proposals for a public option in banking."
- Who will decide the future of retail payments? - IBM Insights on Business - Banking Blog (Richard Brown - @gendal) - "So it’s worth considering two separate but related questions: what are the options for improving the situation even further beyond EMV and who ultimately determines which way we go?"
- Hotel management firm warns of credit breach - USA Today - "White Lodging, a company that manages hotels for nationwide brands such as Marriott, Holiday Inn and Sheraton, is investigating a possible data breach at 14 properties."
- These Guys Battled BlackPOS at a Retailer - Krebs on Security (@briankrebs) - "Recently, I spoke at length with Tom Arnold and Paul Guthrie, co-founders of PSC, a security firm that consults for businesses on payment security and compliance."
- Carper: US should ‘lead way’ in Bitcoin regulation - The Hill - "Sen. Tom Carper (D-Del.) called on the U.S. to “lead the way” on regulation of Bitcoin after a new study found most countries do not have rules in place to address virtual currencies."
- Marc Andreessen Predicts Bitcoin Will Change Chip Design Forever - CoinDesk - "Andreessen believes custom chips will dominate mining for quite a while, but things could take another unexpected turn."
- All (NFC) Journeys Start with Small Steps - VeriFone Blog - "So, while 2014 won’t see any great seismic shifts in technology or customer behavior, the number of people reaching for a phone rather than a card when paying will be higher than ever before."
- Consumer-Controlled Fraud Prevention: The Future - Emerging Payments Strategies (FIS Global) - "FIS will soon be launching a Fraud Alert Management Mobile App wihch delivers on the promise of consumer-controlled anti-fraud card strategies through an innovative mobile platform for card services."
- Canada’s Largest Bank Combines Cloud with SIM; A New Model for the NFC Ecosystem? - NFC Times (Premium Article)
On the Wires:
- Target Accelerates Implementation of Chip-Enabled Smart Card Technology to Protect Consumers from Fraud - "Mulligan said Target will equip its proprietary REDcards and all of its store card readers in the U.S. with chip-enabled smart-card technology by the first quarter of 2015, more than six months ahead of previous plans."
- BRS Media’s dotFM is the First Premier Top-Level Domain Registry to Accept Bitcoin - "Beginning today, Bitcoin digital currency can be used to purchase 'multimedia' and generic domains available on the dotFM website at www.dot.fm; Including .FM, .AM, .TV and the new .RADIO.am & .RADIO.fm Global Domains."
- New U.S. Bank Pact with Purchasing Co-Op Promises Savings for Cities, States, Public Education - "Using card programs for procurement, travel and fueling helps public agencies better manage their purchasing processes. They can issue one payment per month to cover all purchases on each card type, instead of processing multiple purchase orders and payments."
- SingTel and mopay Sign Strategic Agreement - "The agreement will allow SingTel customers to make purchases with mopay’s carrier billing solution conveniently through their mobile phones."
- Electronic Payments Coalition Issues Statement on the Need for Collaboration on Data Security Solutions - "All parties - retailers, networks, processors, financial institutions and others - must come together to implement solutions such as EMV and tokenization to strengthen the system and avoid future breaches."
Updates from Glenbrook:
- Upcoming Glenbrook Payments Boot Camps: March 18-19 in New York City and May 6-7 in Palo Alto, CA.
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