On the Web:
- Putin warns West against curbing use of payment systems in Russia - Reuters - "President Vladimir Putin warned the West on Thursday that curbing Russians' use of payment systems based in the United States and Europe would backfire..."
- Google’s brilliant plan to get millions to adopt its e-money system: Gmail - "While the service has been available since last summer to anyone who had a Google Wallet account or had already been sent money via Gmail, Google now seems to be starting to push it out to the broader public."
- The Fierce Battle for the Soul of Bitcoin - Wired - "Meanwhile, some of the new entrants to the bitcoin universe—venture capitalists and entrepreneurs—have a much different vision. They see bitcoin as something more practical: a hyperefficient online transaction system like Visa, but cheaper, faster, and more flexible."
- Wal-Mart sues Visa over interchange fees - City Wire - "The suit claims that Visa raised interchange fees by 234% between 1998 to 2006. The complaint also alleges Visa’s anticompetitive conduct generated more than $350 billion in interchange fees for the colluding issuers during the damages period ..."
- Target, Visa Say Fraud Limited in Wake of Data Breach - Wall St. Journal - "Target Corp. said it has seen relatively little fraudulent activity on its cards following a massive data breach over the holidays..."
- Despite Challenges, Bitcoin Technology is Here to Stay - CoinDesk - "Governments must beware of being too heavy-handed with bitcoin, he said. If not, they run the risk not only of pushing bitcoin activity into other countries, but also giving rise to more secretive technologies."
On the Wires:
- TSYS Signs Payments Agreement with Virgin Money - Kelley Knutson, executive vice president of TSYS’ International Services segment, said, "We will help to ensure Virgin Money’s efforts to grow their cards business are successful by combining our experience in international markets with the strength of the Virgin brand."
- Businesses Deposit $1 Billion Through Wells Fargo Mobile App - "Wells Fargo & Company – the first major U.S. bank to offer mobile services for corporate and commercial customers – today said that businesses have made more than $1 billion in mobile deposits through its CEO Mobile® Deposit service."
- VeriFone Welcomes New Member to Board of Directors - "VeriFone Systems, Inc. today announced that Richard A. McGinn will leave the board and be replaced by long-time retail and consumer financial services veteran Jane J. Thompson, effective immediately."
Updates from Glenbrook:
- Glenbrook Payments Boot Camps: May 6-7 and Oct 7-8 in Palo Alto, CA.; Aug 5-6 in San Jose, 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: firstname.lastname@example.org or leave me a voicemail: +1.650.469.3421.
- Got news? Please forward press releases to: email@example.com.
- Need consulting help from Glenbrook for one of your payments projects? Let us know your needs here - and we'll get right back to you!
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