On the Web:
- U.S. Regulators Warn of Pattern in ATM Hacks - Wall St. Journal - "U.S. regulators are warning of a pattern in cyberattacks targeting automated teller machines that could saddle banks with "large dollar losses" from unauthorized withdrawals."
- Tap to Pay (Not So Much in the U.S.) - New York Times - "Yet the United States, a far bigger economy than the others, has been much slower in adopting interconnected, speedy and secure solutions for making electronic payments."
- How to Explain Bitcoin to Your Mom - New York Times Dealbook
- PayStand takes on PayPal with a new e-commerce service that accepts bitcoin - "PayStand accepts both credit cards and automated clearing house (ACH) payments in the from of eChecks and Dwolla transfers, but it is also making bitcoin a key element of its service..."
- Overdraft Fees at Banks Hit a High, Despite Curbs - "The median fee for withdrawing more from a checking account than a customer has on deposit increased to an estimated $30 in 2013—a record—up from $29 in 2012 and $26 in 2009..."
- A Billion-Dollar Bracelet Is the Key to a Disney Park - New York Times - "The system also strives to make it easier for guests to buy food and merchandise — just stand at the register and swipe your wristband, called a MagicBand, which also functions as room key, park ticket and V.I.P. access."
- How the 5 biggest QSRs are leveraging mobile payments - Mobile Commerce Daily - "McDonald’s, Starbucks, Burger King, Subway and Wendy’s have all kicked their mobile payment strategies into gear this year, but their different approaches point to how this space is still evolving."
- BMO open to Bitcoin if virtual currency is regulated, reliable, says CEO Bill Downe - Financial Post - "The chief executive of the Bank of Montreal said Tuesday his company would be open to dealing in bitcoin transactions provided that the virtual currency becomes more clearly regulated..."
- Dylan Higgins: The Building Blocks and Challenges of the ‘Silicon Savannah’ - WSJ Accelerators (Dylan Higgins) - "Three years after starting a new entrepreneurial journey in Kenya, I feel I can now offer tips for success and overcoming challenges in this region, which has been coined by some as the “Silicon Savannah.”
- PayPal Wants to Know Where You're Shopping - Mobile Marketing Watch - “We’re able to actually understand who went to a store,” said Sarah Hodkinson, head of Marketing for PayPal Media Network.
On the Wires:
- Financial Regulators Release Statements on Cyber-Attacks on Automated Teller Machine and Card Authorization Systems and Distributed Denial of Service Attacks - "The statements describe steps the members expect institutions to take to address these attacks and highlight resources institutions can use to help mitigate the risks posed by such attacks."
- American Express Celebrates a Year of Life’s #EveryDayMoments - "American Express is now accepting applications for the new Amex EveryDay℠ Credit Card, which was announced at last month's Oscars. To celebrate, the company is launching a year-long campaign to shine a spotlight on America’s #EveryDayMoments – from quality time with the kids to a night out with friends."
- Ciphrex Launches Leading-Edge Bitcoin Wallet - "Bitcoin Vault™ is the first bitcoin wallet supporting shared multisignature account management using deterministic keychains."
- BitPay Opens European Headquarters in Amsterdam - "Moe Levin has joined BitPay as the company’s European Director of Business Development. Moe speaks five languages and has several years of Bitcoin experience, most recently as a conference organizer in Amsterdam and Miami."
- Discover Offers Cardmembers 5% Cashback Bonus on Home Improvement and Furniture Stores - “After a long and difficult winter for many regions of the country, Spring often inspires home improvement projects, and Discover is providing cash back opportunities for both home renovation and redecoration this season,” said Heather L. Roche, vice president of rewards at Discover.
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.
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