Goldman Sachs report on Bitcoin. Key finding: Bitcoin lowers e-commerce and remittance fees by over $210B/year. http://t.co/CxGbqXO9nY— Chris Dixon (@cdixon) March 12, 2014
On the Web:
- Move over, small-time Bitcoin exchange startups—Wall Street has arrived - Ars Technica - "The platform's debut puts Bitcoin trading much closer to the modern world of automated and secure trading."
- Automatically keep track of your online purchases right in the Google Wallet app - Google Commerce Blog - "With Orders, a new feature in the latest version of the Google Wallet app for both Android (v. 4.0+, US only) and iOS (v. 6.0+, US only), you can automatically track your online orders. Google Wallet also notifies you about the status of your orders, plus shows your past orders all in one place."
- Credit Karma, a Credit Score Service, Raises $85 Million - New York Times - "The nearly seven-year-old start-up announced on Wednesday that it has raised $85 million in a third round of fund-raising, led by Google through an investment arm that specializes in late-stage technology companies."
- Azimo Raises $10M Series A Led By Greycroft Partners To Expand Money Transfer Service - TechCrunch - "Launched in August 2012, Azimo aims to disrupt the remittance industry by letting users transfer money internationally to friends, family or other contacts via the Web, its mobile apps or Facebook..."
- Apple: Mobile Payments, A $40-60bn Opportunity - Seeking Alpha (AtonRa Partners) - "NFC is also making serious inroads in the all-important Chinese market."
- This is what the future holds for bitcoin: Goldman - CNBC - "On net, more than taking off as a widely-used alternative currency, it is much more plausible that bitcoin eventually has a significant impact in terms of its innovation on payments technology..."
- Mt. Gox’s Japanese Bankruptcy and U.S. Chapter 15 Case – Implications For Creditors - Virtual Currency Report - "What are the implications of these cases for Mt. Gox’s creditors?"
- Could HCE be the Inflection Point for Mobile Payments? - Euromonitor International (Michelle Evans) - "Thanks to host card emulation (HCE), the NFC payment ecosystem is now more open than it has ever been in the past."
On the Wires:
- Perseus Offers Bitcoin Trading on ATLAS ATS; Welcome to the New World. - "Perseus Telecom, a leading provider of high-speed global connectivity, High Precision Time™ and Market-to-Market networks announced today trading Bitcoin on ATLAS ATS in New York, Hong Kong and Singapore."
- U.S. Bank is First to Offer Visa® Payment Controls Service for Small Business Owners - “Visa Payment Controls lets small business owners spend more time focused on their business and less time worrying about how their business credit cards are being used by their employees,” said Cathi Stanton, senior vice president for U.S. Bank Retail Payment Solutions.
- First Data Releases February 2014 SpendTrend® Analysis - "Dollar volume growth remained positive at 2.4%, but marked a slight slowdown versus January’s 2.5% growth as severe winter weather lingered into February."
- NYDFS Issues Public Order on Virtual Currency Exchanges - "Firms may immediately submit formal proposals and applications to operate virtual currency exchanges in order to help expedite the process of putting in place greater oversight for this industry."
- WorldRemit scoops $40 million investment from Accel Partners - "WorldRemit with its online-only, cashless business model offers a more efficient, affordable and transparent remittance alternative to traditional money transfer operators."
- ACI Worldwide Makes Real-Time, Any-to-Any Payments a Reality for Payment Operators - "With the latest version of ACI’s market-leading consumer payments solution, UP BASE24-eps, as the enabling technology, real-time payments facilitate quick, secure, cost-effective and regulated transactions between consumers and retailers, financial institutions and billers."
- SWIFT launches a new Business Continuity service to support High Value Payment Systems - "Developed by SWIFT, the Market Infrastructure Resiliency Service (MIRS) is a backup service for Real Time Gross Settlement (RTGS) systems - electronic platforms used for the continuous settlement of high value and multi-currency cash payments between banks."
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.
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