On the Web:
- Durbin Says Fed Set Debit Swipe Cap Too High and 'Consumers Have Suffered' - NRF - “The amendment was carefully crafted and its purpose was clearly expressed,” Senate Majority Whip Richard Durbin, D-Ill., said. “Unfortunately, the Board’s final rulemaking failed to sufficiently follow the text and purpose of the law.”
- Bank wars? Walmart's low-cost checking accounts upset bankers - Guardian - "Walmart’s hard-won progress has come through partnerships, with American Express for its BlueBird pre-paid cards and with Green Dot for the money transfers and checking accounts."
- Are Wal-Mart and Apple poised to be regulated by the CFPB? - Washington Post - "The products Wal-Mart and Apple offer are essentially covered by consumer protection laws that the CFPB enforces, which means the companies could be hit with fines for engaging in unfair, deceptive or abusive business practices."
- Bitcoin Economy Widens as Parents Pay Digital Allowance - Bloomberg - “Why bitcoin?” she said. “Because I want to have options. I think it’s a beautiful thing open to everyone.”
On the Wires:
- Blackhawk Network Announces Definitive Agreement to Acquire Parago, Inc. - "Blackhawk is excited to add Parago's capabilities and leadership to our growing corporate incentive business", said Talbott Roche, Blackhawk's president. "Parago's award-winning solutions will allow us to deliver expanded capabilities and products and enhance Blackhawk's leadership position in the consumer and corporate incentives markets."
- U.S. Bank Extends Freight-Payment Trade Finance Capability to Europe - “As a financial institution, Elavon Freight Payment is uniquely positioned to offer this efficient method of improving cash flow for both shippers and carriers,” said Rick Erickson, global director of Freight Payment Solutions for U.S. Bank.
- WingCash Announces Partnership With Clip at FinovateFall 2014 - "The WingCash and Clip solution marries digital gift and loyalty programs with existing payment cards," said Bradley Wilkes, CEO of WingCash. "Gift or loyalty cash can be seamlessly integrated into the merchant's platform by the WingCash online wallet, and it can all be accessed through a single swipe or dip of a debit or credit card."
- Global Payments and CaixaBank to Host a Wearable FinAppsParty to be Held Simultaneously in Atlanta and Barcelona - "The FinAppsParty will host talented developers, designers, programmers and creatives of mobile payments apps that will compete in teams of one to four members over a 24-hour period."
Updates from Glenbrook:
- Join Elizabeth McQueery and Manfred Schuck for Glenbrook's Payments in Europe Workshop - Oct 9 in Palo Alto, CA
- 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.
- Money20/20 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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