On the Web:
- The inside story of PayPal’s One Touch: Bill Ready’s bet-the-company, six-year battle to make you spend more money - PandoDaily - “We think that this will be the default way that people buy things for the next couple of years..."
- American Express told it cannot enforce anti-steering rules against merchants - Reuters - "Judge Nicholas Garaufis in Brooklyn federal court said American Express may not stop restaurants and stores, for instance, from offering discounts, rebates or other incentives for using lower-fee cards."
- Judge Orders American Express to Revise Merchant Agreements - Wall St. Journal - "A federal judge ordered American Express Co. to let merchants steer customers to other forms of plastic payments, including debit cards."
- MCX: Over Before It Starts, or Holding the Trump Card? - AFP Blog - "At the NACHA Payments 2015 Conference last week, Andy Shober, chief sales and business development officer for MCX, indicated that CurrentC will incorporate customer loyalty programs. This may give it a leg up on Apple Pay, which currently does not incorporate retailers’ private label cards."
- Harbortouch is Latest POS Vendor Breach - Krebs on Security - "KrebsOnSecurity has recently heard from a major U.S. card issuer that says the company is radically downplaying the scope of the breach, and that the compromise appears to have impacted more than 4,200 Harbortouch customers nationwide."
- Flywheel Now Lets You Pay For Taxis On A Mobile App - BuzzFeed - "Called “Pay by Flywheel,” the feature will allow users to take advantage of both the ubiquity of taxis and the convenience of mobile payments — and, therefore, act as a challenge to Flywheel competitors Uber and Lyft."
- The ‘Ripple’ Effect: Why an Open Payments Infrastructure Matters - CGAP Blog - "Currently, banks conduct payments through intermediaries: third parties that move funds across disconnected networks. The reliance on intermediaries adds costs, additional counterparty and settlement risk, and time delays to payments. As a result, cross-network payments only work well for certain geographies and only for high-value transactions."
- MasterCard: A Stylish Innovative Headquarters Not Just for Millennials - "Something tells me this is just the beginning for MasterCard as it continues its evolution as a technology company revolutionizing how the world thinks about payments."
On the Wires:
- MasterCard Expands Relationship with First Performance Global to Drive Greater Card Control - "Through the global extension of a license for its proprietary MasterCard In ControlTMtechnology, MasterCard will take an equity stake in First Performance. As a result, the two companies will collaborate on growing First Performance’s ability to offer payment card issuers and processors self-service tools for cardholders."
Glenbrook's 2015 Payments Education
- Our next spring Payments Boot Camp session is scheduled for May 19-20 in Menlo Park, California followed by a one-day Insight Workshop on May 21 on the topic of The New Point of Sale.
- If you have questions about our payments education program, please contact Carol Coye Benson for more information.
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Updates from Glenbrook:
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