On the Web:
- Who’s the Better Fraud Investigator Survey — What about Merchants? - PaymentsViews.com (Jay DeWitt) - "I’ve received a couple of comments suggesting I left out an important fraud detector in the survey: merchants! In the card not present (CNP) space, merchants are often the first detectors of fraud, noticing suspicious buying behavior even though the issuer is happily approving the transaction."
- With Expansion to U.K., Sweden’s Klarna Sets Eyes on U.S. - Wall St. Journal Digits - "Klarna is trying to solve a problem for online retailers known in the industry as shopping-cart abandonment, the idea that shoppers won’t follow through on purchases if there are too many obstacles in their way."Í
- Online Retail Giant Newegg Now Accepts Bitcoin - CoinDesk - "The Los Angeles-based company ... saying it will use BitPay as the payment processor to convert bitcoin sales into US dollars."
- Moven Completes A Round - Moven Blog - "Led by SBT Venture Capital, this $8m raise included Route 66 Ventures, Standard Bank, and a few new angels."
- Yodlee, a financial software firm born in the dotcom era, plans $75M IPO - Silicon Valley Business Journal - "The Redwood City company led by CEO Anil Arora said in a filing on Monday that it hopes to raise up to $75 million."Î
On the Wires:
- MasterCard and Borderfree Team Up to Bring Exclusive Savings at Top U.S. Retailers - David Chan, Senior Vice President and Group Head, Market Development, South East Asia, MasterCard, said: “In an increasingly globalized world, consumers have a growing desire for the products and brands that these international online merchants carry. Through our partnership with Borderfree, we are able to provide MasterCard cardholders savings on shipping costs and an enhanced global shopping experience that is smooth, simple and most importantly secure.”
- 1-800-FLOWERS.COM Partners with Coinbase to Accept Bitcoin - "Beginning this fall, 1-800-FLOWERS will be adding bitcoin as a payment option across its extensive family of gifting sites, including 1-800-FLOWERS.COM, FannieMay.com, Cheryl’s.com, ThePopcornFactory.com, 1-800-Baskets.com, FruitBouquets.com, and Stockyards.com."
- Hold the Phone: U.S. Consumers Wouldn’t Last One Day Without Access to Their Smartphone - "Almost one in two (47 percent) U.S. consumers admit they wouldn’t last a day without their smartphone, and many consider their devices more important than daily staples such as coffee and television, according to a new report released today by Bank of America. Of those who use their phones for banking, almost one-third (31 percent) say they log on at least once a day, and four out of five (82 percent) access their accounts at least once a week or more."
- State Bank of India Launches New Digital Online and Self-Service Banking Solutions with Support from Accenture - “InTouch is the start of SBI’s Digital journey,” said S K Mishra, deputy managing director, State Bank of India. “This is our attempt to put our brand in touch with the dreams of the aspirational customer. It’s a deep rooted transformation that has three aspects: a transformation of the customer experience we deliver; introduction of device centric technology that is at the forefront of our global peers; and transformation of the behavioral model of our staff-base to be even more customer centric.”
Updates from Glenbrook:
- Glenbrook Payments Boot Camps: Aug 5-6 in San Jose, CA.; Oct 7-8 in Palo Alto, CA.; Oct 21-22 in New York City; Dec 9-10 in Palo Alto, CA.
- Money2020 has become the go-to event in payments. We'll be there in force... will you? Use this promo code to register "GLENBR20"
- 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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