On the Web:
- MoneyPak, a Popular Prepaid Money Card, Opens Path to Fraud Schemes - New York Times - "Federal authorities are sounding alarms about a wide range of fraudulent schemes involving a popular prepaid money card product."
- Stealthy new malware snatching credit cards from retailers’ POS systems - ArsTechnica - ""Backoff" scrapes credit card transactions out of memory, sends them back to cyber thieves."
- Minnesota Twins -- Beer, Hot Dogs And Credit Card Applications - Forbes - "The technology is Mitek’s Mobile Photo Account Opening, from the company that launched the app — remote deposit capture — which lets you deposit checks by shooting them with your smartphone."
- Google’s disruption of financial services is just getting started: Forrester - Mobile Commerce Daily - "The “Why Google Bank Won’t Happen” report suggests that Google is likely to disrupt financial services in four areas – payments, money management, product comparisons and financial advice."
- What that $34 overdraft fee is really costing you - Washington Post Wonkblog - "Opting in for overdraft coverage for debit card and ATM transactions is an expensive way to manage a checking account," said CFPB Director Richard Cordray, on a call with reporters.
- Why Argentina’s Debt Default is an Opportunity for Bitcoin - CoinDesk - "Argentina is without a doubt a leader in bitcoin development, use and leadership in Latin America – and high inflation only reinforces this adoption."
- Restaurant Payment App Settle Raises $1.5M To Bring Waiter-Free Service To Eastern Europe - TechCrunch - "The Ukrainian startup has just closed a $1.5 million funding round from Moscow-based venture fund Life.SREDA — capital it will use to power its roll out across Eastern Europe,"
On the Wires:
- It's a slow news day! Enjoy your summer!
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.
- 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!
- Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews