On the Web:
- Visa, MasterCard Say New Russian Sanctions Hit Two More Banks - Wall St. Journal - "A new round of penalties announced Monday is forcing the card networks to shut down service with at least two more Russian banks, adding to two others whose service they terminated last month, the companies said."
- What Apple’s future of mobile payments on the iPhone could look like - Cult of Mac - "A new concept called EasyPay takes the Apple approach to mobile payments on the iPhone, and it looks great."
- Few Consumers Are Buying Premise of Mobile Wallets - New York Times - "Aditya Khurjekar, a former Verizon Wireless executive who worked on mobile payments there, said he believed consumers do not find it bothersome to carry or use credit cards and cash."
- Heidi Miller, Bitcoin and fitness for purpose - The Financial Services Club Blog - "That’s the power of the Bitcoin exchange and the reason why we need banks to focus upon change fast. Get with it or your customers will."
- Wells Fargo Ramps Up Secured Card Lending, Readies Affluent Push - American Banker (Maria Aspan) - "40% of our acquisitions" are students and borrowers who only qualified for secured credit cards, according to Beverly Anderson, Wells Fargo's head of consumer credit solutions.
- Square Now Lets Merchants Collect Payments Offline And In Advance For Order Pickup - TechCrunch - "Today, the payments company is debuting its order ahead and pickup tool, offline mode and inventory tracking for merchants."
- Square’s New Way to Make Cash: An Order-Ahead Option - Re/code.net (Jason Del Rey) - "Square will charge merchants eight percent, instead of the standard 2.75 percent, for these types of orders..."
- MIT Project to Distribute $500,000 in Bitcoin to Undergraduates - CoinDesk - "The project was launched by Dan Elitzer, the founder and president of the MIT Bitcoin Club, and Jeremy Rubin, a sophomore studying computer science."
- Where’s the Next Heartbleed Bug Lurking? - MIT Technology Review - “The problem is there are so many components that the software stack depends on,” says Jeff Williams, cofounder and CTO of Aspect. “The Internet is a haystack full of needles.”
On the Wires:
- Square Launches Pickup, Register Offline, and Inventory Tracking - "Research shows that food and beverage is the second most popular category among purchases made on smartphones. And studies show that more people are preferring to use their smartphones to pay for their purchases. Square is helping local business owners match these trends and connect with customers."
- Cash Continues to Play a Key Role in Consumer Spending: Evidence from the Diary of Consumer Payment Choice - Federal Reserve Bank of San Francisco - "Not only is cash a very different payment instrument than checks, but consumers choose to use cash more frequently than any other payment instrument, including debit or credit cards."
- 2Checkout Integrates with Shopify, Helping Online Retailers Expand Into Foreign Markets - "Shopify’s 100,000+ merchants from around the world can now enable 2Checkout's secure, responsive, localized payments page to maximize checkout conversions in hundreds of markets.”
- Target Appoints New Chief Information Officer, Outlines Updates on Security Enhancements - "Today Target Corp. (NYSE: TGT) announced the company has hired a new technology leader to help guide the company's information technology transformation. Target also provided details on additional security enhancements the company has made following its 2013 data breach, and shared plans to incorporate MasterCard chip-and-PIN technology across its REDcard portfolio."
- VeriFone and First Data Bring End-to-End Encryption and Tokenization to Gas Stations and Convenience Stores - "The TransArmor, VeriFone edition, is an end-to-end encryption and tokenization solution that is a result of a partnership between VeriFone and First Data to address retailers’ need for enhanced payment security."
- Amazon.com Puts Wearable Technology at Your Fingertips with Launch of New Store - "mazon.com, Inc. today announced the launch of its Wearable Technology store – a one-stop shop where customers can easily discover the latest in wearable technology and research wearable devices including activity trackers, smart watches, wearable cameras and more."
- ACI Launches Industry-First SaaS-Based EMV Lifecycle Management Solution - "A SaaS-based EMV lifecycle management solution will enable issuers to dynamically modify and configure parameters for customers, enabling differentiation in the marketplace."
- Viableware Enhances Mobile Payment Technology to Prepare Full-Service Restaurants for the EMV Credit Card Revolution - "The enhanced RAIL device is engineered to accept any chip-based payment card from the table and securely communicate with the leading restaurant POS systems – including MICROS, NCR Aloha, Squirrel and Dinerware – strengthening customer security and mitigating restaurant liability for credit card fraud."
- mopay is the First Global Mobile Payments Company to Sign Carrier Billing Agreement with Viettel Telecom - "mopay, a global leader in innovative payment solutions for online merchants, and Viettel Telecom—the market-leading mobile network operator in Vietnam—have signed a strategic carrier billing partnership."
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.
- Glenbrook Payments Insights Workshops: Innovation in Payments, May 8 in Palo Alto, CA; Bitcoin: Basics and Beyond, June 25 in New York City.
- 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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