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Headline News from PaymentsNews.com - May 1, 2014

On the Web:

  • Merchants and Billers: Leverage = Options x Time! - PaymentsViews.com (Jay DeWitt) - "The solution to these situations simple: figure out when your acquirer contract expires, and get it on your planning calendar so you’re teed up to begin negotiations 6-12 months before contract term."
  • In Bitcoin Debate, Larry Summers Sides with the History of Change - Wall St. Journal Moneybeat - "To Mr. Summers, the potential contained in bitcoin’s breakthrough technology, with its fast, low-cost system for confirming transactions, is demonstrated by problems with the current multi-layered system for domestic and global fund transfers."
  • Payment Innovation Is Not Enough For Retail - TechCrunch (Dax Desilva) - "Commerce is all about bringing the right product to the right shopper at the right time, but the payment only addresses the close. To differentiate, merchants need to focus on innovating everything else that happens long before we reach the register..."
  • The death of cash? Debit card use surges - Telegraph (UK) - "Plastic and automated payments are now the most popular method of payment by both volume and size of transactions, according to current account data published by Halifax."
  • HCE vs. BLE: Which has the bigger in-store potential? - Mobile Commerce Daily - "While both NFC and BLE are likely to bring some important innovations to the in-store experience, they also have their limitations."
  • EMV is Not a Panacea for Transaction Security - Verifone Blog (Jeff Wakefield) - "Yes, EMV is more secure than mag-stripe technology, and when fully rolled out it will do a good job of reducing card fraud. But until mag-stripes are eliminated from cards; mag-stripe readers are no longer in use, and until merchants completely eliminate usable data from their environments, EMV will remain a “better option,” but it won’t prevent the theft of cardholder entirely."
  • ‘Dark Wallet’ Is About to Make Bitcoin Money Laundering Easier Than Ever - Wired - "On Thursday, a collective of politically radical coders that calls itself unSystem plans to release the first version of Dark Wallet: a bitcoin application designed to protect its users’ identities far more strongly..."

On the Wires:

  • Chase Launches Marriott Rewards Premier Visa Signature Business Credit Card for Small Business Owners On the Go - "Chase Card Services and Marriott Rewards® today announced the launch of the Marriott Rewards Premier Visa Signature® Business Credit Card designed for small business owners who travel frequently for business or pleasure. With the Marriott Rewards Premier Business Credit Card, small business owners have the ability to earn accelerated Marriott Reward points on all purchases, accumulate free night stays, and receive automatic Silver Elite Status once they become a cardholder."
  • MasterCard Incorporated Reports First-Quarter 2014 Financial Results - "The company reported net income of $870 million, up 14%, and earnings per diluted share of $0.73, up 18%, in each case versus the year-ago period."
  • Worldpay announces strategic acquisition of Cobre Bem Tecnologia - "Worldpay Group today announced that it has acquired Cobre Bem Tecnologia, a leading provider of payment solutions in Latin America, for an undisclosed amount. With this transaction, Worldpay’s eCommerce division will further strengthen its global reach, giving its customers access to a wide range of payment products in Brazil, Argentina, Colombia, Chile and Mexico."
  • Qualcomm Establishes Retail Solutions Subsidiary as Standalone Company -- Gimbal, Inc. - "The QRS team has made tremendous progress with the Gimbal technology platform and I am excited to continue leading this group as CEO of Gimbal, Inc.," said Rocco Fabiano, current president of QRS. "I am eager to continue working with this team under a new corporate structure that will permit the business to respond quickly to this rapidly evolving ecosystem."
  • Wells Fargo Commercial Cards Are Europe-Bound - "In a related announcement, Wells Fargo said all new USD WellsOne® Commercial Cards will be embedded with microprocessor chips defined by E.M.V. (Europay, MasterCard, and Visa) standards. In addition, Wells Fargo has begun migrating all of its existing cardholders over in advance of the October 2015 deadline in the United States."
  • Wells Fargo Launches Wells Fargo Works for Small BusinessSM - "Wells Fargo Works for Small Business provides wide-ranging support for business owners throughout the U.S. to help them build knowledge, access capital and expand their community of support. Wells Fargo Works for Small Business encompasses the company’s commitment to helping small businesses grow."

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

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