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January 10, 2014

A Look at Payments Regulation in the US and Innovation

PaymentsViews logo 140pxIn a post titled "Payments Regulation in the United States is Hampering Innovation (Really?)" over on PaymentsViews.com attorney Broox Peterson shares his perspective on payments regulation in the United States and its effect on innovation.
The process of identifying and complying with payments regulation that applies to a startup business is probably less daunting than common perceptions of the process, caused in part by the arm-waving of lawyers and compliance specialists (like me) trying to scare startup businesses to take the regulatory requirements seriously, and perhaps over-succeeding. So let me take a stab at dialing back some of the hysteria over payments regulation."
Broox has done a lot of work in and around this space - his perspective is a very thoughtful one. Share your reaction by adding a comment at the end of his article.

Headline News from PaymentsNews.com - January 10, 2014

Next Glenbrook Payments Boot Camps: Feb 4-5 in Palo Alto, CA; March 18-19 in New York City. Alternatively, you can request a private Payments Workshop held on-site at your location.

On the Web:

On the Wires:

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!

January 09, 2014

New on PaymentsViews.com: Bitcoin in 2014

PaymentsViews logo 140pxOn PaymentsViews.com, Glenbrook's George Peabody takes a look at the year past and the year ahead for Bitcoin.
Unlike so many Internet phenomena, moving money is not amenable to revolution. Steady evolution is required to build confidence. 2014 should see math-based currencies settle down to the work of proving themselves through continued experience and experimentation.
What are your thoughts about Bitcoin for the year ahead? Add your comment to George's post!

Headline News from PaymentsNews.com - January 9, 2014

Next Glenbrook Payments Boot Camps: Feb 4-5 in Palo Alto, CA; March 18-19 in New York City. Alternatively, you can request a private Payments Workshop held on-site at your location.

On the Web:

On the Wires:

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!

January 08, 2014

Headline News from PaymentsNews.com - January 8, 2014

Next Glenbrook Payments Boot Camps: Feb 4-5 in Palo Alto, CA; March 18-19 in New York City. Alternatively, you can request a private Payments Workshop held on-site at your location.

On the Web:

  • Inside Bitcoin - John Patrick - "Banks, credit card companies, and money transfer companies do not like Bitcoin because the new digital currency model threatens the status quo and related fees. In the early days of the World Wide Web, there were similar views to what we hear about Bitcoin."
  • The MTA Plans to Turn New Yorkers’ Smartphones into Subway Passes - Skift - "The MTA plans to have a next-generation fare payment system in place by 2019, says agency spokesman Aaron Donovan."
  • Real-time Fraud Prevention - Emerging Payments Strategies (FIS) - "The better your anti-fraud strategies and solutions, the better you’ll be at protecting your institution and your cardholders. These pressures are driving the industry toward more and more real-time solutions that attempt to stop fraud before it starts."
  • Bitcoin isn’t Money—It’s the Internet of Money - The Umlaut (Eli Dourado) - "The Internet model improves upon the traditional telephone model by making possible what Vint Cerf calls “permissionless innovation.” Tim Berners-Lee was able to launch the World Wide Web without waiting for Internet service providers to support it."
  • Bitcoin Woos Washington to Ensure Lawmakers Don’t Kill It - Bloomberg - "The outreach is aimed at ensuring that wary lawmakers don’t kill the embryonic industry and regulators provide a clear set of rules to play by."
  • Bitcoin Banned by Alibaba’s Taobao After China Tightens Rules - Bloomberg - "Alibaba Group Holding Ltd., China’s largest e-commerce website, will ban the sale of Bitcoin and other virtual currencies after the country’s central bank tightened regulations in December."
  • Alibaba Online-Payment Affiliate Teams With Sina Corp. - "The affiliate, called Alipay, said on its official microblog account that the new service allows users of Sina's Weibo microblog service to make online and offline payments through their Alipay accounts."

On the Wires:

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!

January 07, 2014

Headline News from PaymentsNews.com - January 7, 2014

Next Glenbrook Payments Boot Camps: Feb 4-5 in Palo Alto, CA; March 18-19 in New York City. Alternatively, you can request a private Payments Workshop held on-site at your location.

On the Web:

  • Explain Bitcoin Like I’m Five - Medium (nikSter) - "We didn’t need a third person there to help us make the transfer. We didn’t need to pull in Uncle Tommy (who’s a famous judge) to sit with us on the bench and confirm that the apple went from me to you."
  • Bitcoin Series 15 - The discontinuity that is bitcoin - Ledra Capital - "Bitcoin is like that. It won't replace the financial system, the Fed or the nation-state. It will supplement the financial system in a big and important way, push it to be more innovative and efficient and, finally, will merge with it, in the same way that IP delivery has crept into telephony and video infrastructure over time."
  • German Central Bank Official Issues Another Bitcoin Warning - CoinDesk - "He stressed that regulators and central bankers across Europe are discussing bitcoin and trying to raise public awareness, but so far no concrete action has been taken, apart from public warnings."
  • Bitcoin me: How to make your own digital currency - Guardian - "It turns out, though, that cloning bitcoin is actually harder than it looks."
  • Bezos-backed money transfer startup Remitly lands $5.5M - GeekWire - "A TechStars Seattle grad formerly known as BeamIt Mobile, Remitly has created a cheaper and faster method for individuals to send money across borders."
  • 8 Retail Predictions in “Store” for 2014 - VeriFone Blog - "As it is the start of the year we thought we would have a look at some of the issues that will be impacting retail stores in 2014 and try and predict some of the trends and challenges we’ll see along the way as retailers respond."

On the Wires:

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!

January 06, 2014

Georgia Department of Banking and Finance Finalizes Merchant Acquirer Limited Purpose Bank Rules

140px Flag of Georgia U S state svgLast month, the state of Georgia Department of Banking and Finance published new rules in response to earlier legislation - the Georgia Merchant Acquirer Limited Purpose Bank Act, O.C.G.A. § 7-9-1 et seq.

Under the new rules, "a corporation, organized solely under the laws of Georgia, that performs or seeks to perform merchant acquiring activities or settlement activities may apply to the Department for an MALPB (merchant acquirer limited purpose bank) charter."

The new rules became effective on December 23, 2013.

Headline News from PaymentsNews.com - January 6, 2014

Next Glenbrook Payments Boot Camps: Feb 4-5 in Palo Alto, CA; March 18-19 in New York City. Alternatively, you can request a private Payments Workshop held on-site at your location.

On the Web:

On the Wires:

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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