On the Web:
- Amazon Takes Shopping Offline With a New Mobile Credit Card Reader - Wired.com - "Considering such devices have been available for the past half-decade, you could dismiss Amazon as a very late mover. But since no other company is like Amazon, you have to ask what competitive advantages it brings, even if the product itself is far from original."
- Amazon Goes After Square in the Way It Knows Best: Pricing - Re/code.net (Jason Del Rey) - "Amazon spokeswoman Julie Law said on Wednesday that Amazon would be adding more software capabilities to the Amazon Local Register app “very soon,” but declined to elaborate."
- lThe US says it finally busted the gang behind the most convincing counterfeit dollars in the world - Quartz - "Last week’s indictment of the alleged ringleaders of one of the most successful counterfeiting operations in US history offers a rare window into the US Secret Service’s far-reaching efforts to combat counterfeit currency."
- Thoughts on the New York BitLicense Proposal - Circle Blog (Jeremy Allaire) - "Without some material changes, Circle will have no choice but to block New York customers from accessing our services."
- Startup Spotlight: PayRange announces $2.7M round from PayPal co-founder, ex-Google Payments boss - GeekWire - "PayRange, founded in 2013, has developed a small dongle that can be plugged into a vending machine, enabling users to purchase items with their smartphones. The product went from idea to market in just six months."
- Tech Visionary George Gilder: "Bitcoin is the Libertarian Solution to the Money Enigma." - "Bitcoin is a breakthrough in information theory that allows [users] to conduct provable transactions that can't be changed...without reference to trusted third parties," says tech writer and investor George Gilder. "[Bitcoin] is the perfect libertarian solution to the money enigma."
On the Wires:
- More Than 575 Million U.S. Payment Cards to Feature Chip Security in 2015 - "The Payments Security Task Force (PST) today provided an update on its discussions and activities since its inception. The task force, which represents a diverse group of U.S. electronic payment industry players, has initially focused on continuing the momentum of EMV chip implementation in the United States."
- ChangeTip Micropayments Now Available on Google Plus, YouTube, Tumblr - "ChangeTip allows for Bitcoin tips to be sent without a fee, allowing for micro-payments of less than a penny. This effectively changes the concept of a "share" or "like" into financial appreciation, which can quickly add up to substantial amounts of money."
- Gilbarco and VeriFone Join Forces to Offer Payment Solutions and Services and Digital Media to Convenience and Fuel Retailers - "The two companies will collaborate on future fuel dispenser payment platforms to be developed and supplied by VeriFone. The solutions will meet convenience and fuel retailers’ functionality and regulatory needs in an increasingly complex payment ecosystem, as well as offer at-pump media advertising and entertainment."
- peerTransfer Surpasses 500 Clients, While Processing Over $1B in International Payments - "peerTransfer was developed after Founder, Iker Marcaide, a business school student from Spain, encountered two key challenges when paying tuition from overseas to Massachusetts Institute of Technology (MIT). Iker’s international bank transfer to MIT went missing and, while investigating the lost payment, he realized how much extra money he was paying to convert his funds."
- Discussion Paper Released: Fair Lending Analysis of Credit Cards - The Payments Card Center of the Federal Reserve Bank of Philadelphia has released a new paper that discusses some of the key fair lending risks that can arise in various stages of the marketing, acquisition, and management of credit card accounts, and the analysis that can be employed to manage such risks.
Updates from Glenbrook:
- Glenbrook Payments Boot Camps: Oct 7-8 in Palo Alto, CA.; Oct 21-22 in New York City; Dec 9-10 in Palo Alto, CA.
- Money/2020 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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