Payments News from Glenbrook Partners
Glenbrook   Book   Education   Views   Archives   Store   Advertise   About         SUBSCRIBE:

« August 3, 2014 - August 9, 2014 | Main | August 17, 2014 - August 23, 2014 »

August 15, 2014

Headline News from PaymentsNews.com - 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:

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!

August 14, 2014

Headline News from PaymentsNews.com - August 14, 2014

On the Web:

On the Wires:

  • BitPay Expands San Francisco Office - "As part of the recent growth, the company has named Sonny Singh as its Chief Commercial Officer to oversee all sales operations. With over 15 years of experience in helping to grow tech companies, Sonny will be responsible for increasing BitPay’s customer base of over 40,000 merchants."
  • DISH Accepts Its First Bitcoin Payment - "Austin and Beccy Craig, the stars of a new documentary film “Life on Bitcoin,” were the first DISH customers to pay with the digital currency. The Craigs spent the first 101 days of their marriage paying exclusively with bitcoin. The documentary will soon be released chronicling their adventure and educating viewers about bitcoin."

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!

August 13, 2014

Amazon.com Introduces Amazon Local Register Mobile POS Solution

Amazon logo 140pxAmazon.com has introduced Amazon Local Register, a secure card reader and mobile app that provides local businesses with the tools they need to quickly and easily accept credit and debit cards from a smartphone or tablet and keep track of their growing business.

From clothing stores to contractors, food trucks to accountants, businesses and organizations using Amazon Local Register will enjoy industry-leading low rates, trusted and secure payment processing, and access to award-winning customer support,” said Matt Swann, Vice President of Amazon Local Commerce.

“We understand that every penny and every minute counts, so we want to make accepting payments so easy and inexpensive that it no longer gets in the way of a business owner doing what they love - serving their customers and growing their business.”

The card reader is available now with Free Two-Day Shipping on Amazon.com. Beginning August 19, customers can also purchase a card reader at Staples retail locations nationwide. The Amazon Local Register card reader and free mobile app are compatible with a variety of smartphones and tablets, including Apple devices running iOS7, Kindle Fire tablets, select Android smartphones, and coming soon to the Amazon.com Fire phone.

Amazon is aggressively pricing Local Register - offering customers who sign up for before October 31 a low promotional rate of 1.75 percent per card swipe on all major credit and debit cards until January 1, 2016 - at which time the rate increases to 2.5%. Additional details are available at localregister.amazon.com.

Headline News from PaymentsNews.com - August 13, 2014

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!

August 12, 2014

Headline News from PaymentsNews.com - August 12, 2014

On the Web:

  • Back to Square One - Fast Company (Austin Carr) - "There's need for the urgency. Square's Reader and Register products are no longer unique; a slew of upstarts and big rivals such as PayPal, NCR, and VeriFone now offer their own equivalent iPad systems, which threaten to eat away at Square's merchant share and payments business."
  • Reviewed: Xapo’s Bitcoin Debit Card - CoinDesk - "Upon debut, CoinDesk finds that the Xapo Debit Card has potential to be a useful bitcoin spending tool, but there are a few hiccups it must overcome first."
  • Shift Is Developing A Debit Card That Lets You Spend Digital Currency, Loyalty Points And Regular Money - TechCrunch - "In the San Francisco Bay Area and elsewhere in the world, 100 people are testing out a debit card that lets them pay with bitcoin and Ripple, and, in the future, regular money and loyalty points."
  • Partnering with Clover & First Data - GoodLabs Blog - "With such massive scale, we were obviously thrilled to launch our first in-store integration on their Clover platform, and we can’t say enough awesome things about partnering with them."
  • First Data: Gyft Deal Will Help Us Evaluate Bitcoin - CoinDesk - "...though the focus of the acquisition was Gyft’s mobile gift card platform, the company intends to take advantage of Gyft’s position in the bitcoin space to further its knowledge of emerging payment methods."
  • Black Hat 2014: A New Smartcard Hack - IEEE Spectrum - "The U.S. scheme is a mixture, with some banks issuing chip-and-PIN cards and others going down the signature route. We may therefore be about to see a large natural experiment as to whether it is better to authenticate transactions with a signature or a PIN."
  • Improving Mobile Security with Biometrics - Portals and Rails Blog - "No matter what biometric authentication methodology a system uses, the most important step is validating each customer's biometrics upon enrollment in the program."
  • New York Prosecutors Charge Payday Loan Firms With Usury - New York Times - "Beneath the dizzying corporate structure, prosecutors said, was a simple goal: make expensive loans even in states that outlawed them."

On the Wires:

  • FleetCor Agrees to Acquire Comdata for $3.45 Billion - "As an issuer and a processor, Comdata provides fleet, virtual card, and gift card solutions to over 20,000 customers. It has approximately 1,300 employees and enables over $54 billion in payments annually."
  • Square Announces New Accounting and Inventory Integrations for Canadian Businesses - "Square's partner platform connects Square sellers with new applications that complement Square's register service. Continuing to build upon Square's powerful, affordable and accessible business solutions, the QuickBooks Online, Xero and Stitch Labs integrations are designed to simplify operations for businesses throughout Canada."
  • Digital River Expands Its Brazil Payments Offerings for Online Merchants - “Brazil is the fourth largest payment card market in the world,” said Souheil Badran, senior vice president and general manager of Digital River World Payments. “A number of our clients view Brazil as a strategic growth opportunity. We can help them navigate this highly complex market for cross border commerce, improve their authorization and conversion rates, and control overhead costs and risks associated with managing their own local entities.”
  • TSYS Enables Secure Commerce with Tokenization - "The proliferation of “card-on-file” models, both remote and proximity, has created an industry need to produce and use tokens including: card-on-file at a merchant’s cart, digital wallets, QR and Bar codes, NFC and chip."
  • CFPB Warns Consumers About Bitcoin - "“Virtual currencies may have potential benefits, but consumers need to be cautious and they need to be asking the right questions,” said CFPB Director Richard Cordray. “Virtual currencies are not backed by any government or central bank, and at this point consumers are stepping into the Wild West when they engage in the market.”
  • Fiserv White Paper Outlines the Unique Mobile Banking Needs of Business Customers - “With more businesses using digital banking services, there is a focus on providing specialized mobile banking capabilities which cater to the needs of this attractive market segment,” said Teri Carstensen, division president, Bank Solutions, Fiserv.
  • American Express unveils The Centurion(SM) Lounge in New York LaGuardia Airport - “New York might be the city that never sleeps, but our Card Members can now find an oasis at LaGuardia Airport to relax and refresh when they’re traveling into and out of the city,” said Lisa Durocher, Senior Vice President, Consumer Charge Cards & Benefits at American Express. “As our third Centurion Lounge, opening the LaGuardia Airport location marks a huge milestone for us, and brings us closer to our goal of creating a better airport experience for our Card Members.”
  • Commerce Bank Introduces the USA Triathlon Visa® Rewards Credit Card - “We are excited to enter into a relationship with USA Triathlon and to offer their members a customized credit card as way to show their support for the organization and enthusiasm for one of the fastest growing sports in the U.S. Olympic movement,” said Chad Doza, Senior Vice President of Consumer Credit Card.

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!

August 11, 2014

Headline News from PaymentsNews.com - August 11, 2014

On the Web:

  • Mobile-Payments Firms Order Up New Strategy: Restaurants - Wall St. Journal Digits Blog - "Priceline’s OpenTable unit, which it bought this year for $2.6 billion, is set to announce Monday it will expand a restaurant-focused payment app nationwide, from a test in about 20 restaurants in San Francisco."
  • Who Wants Automated Fraud Alerts? 91% of People - FICO Banking Analytics Blog - "Banks in the UK and some other countries brought fraud levels much lower, then focused on how to make the purchase process much more streamlined. This has allowed fraud losses to rise."
  • Simplifying the Bull: How Picasso Helps to Teach Apple’s Style - New York Times (Brian X. Chen) - "Steven P. Jobs established Apple University as a way to inculcate employees into Apple’s business culture and educate them about its history, particularly as the company grew and the tech business changed."

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!

Sponsors

News View

Payments Consultants

Subscribe

Languages