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Headline News from - August 15, 2014

On the Web:

  • Why So Many Card Breaches? A Q&A - Krebs on Security - "For example, in my own economic analysis of the 40 million cards stolen in the Target breach, I estimate that the crooks responsible for that breach managed to sell only about 2-4 percent of the cards they stole."
  • Paper Boys - Inside the Dark, Labyrinthine, and Extremely Lucrative World of Consumer Debt Collection - New York Times Sunday Magazine
  • First Data vows lower fees in entry to Brazil payment market - Reuters - "First Data Corp plans to enter Brazil's card payment processing market through lower fees and additional services, a sign that robust demand for plastic money in Latin America's largest economy may not be enough for newcomers to gain market share."
  • On Prepaid - Finsurgency (Matt Harris) - "It is telling that the latent threat to financial institutions was always Wal‐Mart, and, in fact, prepaid partnerships with GreenDot and American Express enabled that latent threat to become very real."
  • Yahoo Dusts Off E-Commerce Service to Juice Revenue - Wall St. Journal Digits Blog - "In addition to renaming the service to Yahoo Stores, the company has added new tools for handling payments and building mobile versions of their storefronts, said Amit Kumar, head of Yahoo Small Business, in an interview."
  • For Merchants, Bitcoin Shows More Pop Than Potential - New York Times Dealbook - "There are benefits for merchants in offering Bitcoin as a payment option — lower processing fees rank high on the list — but some have questioned whether accepting virtual currency amounts to anything more than a marketing gimmick."
  • German Startup Says Its New Chip Halves Bitcoin Mining Energy - Wall St. Journal Digits Blog - "A German start-up is looking for funding to produce a new high-performance microchip that it says would make bitcoin mining much less energy intensive, and thus cheaper."

On the Wires:

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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:!

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