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August 20, 2014

Headline News from PaymentsNews.com - August 20, 2014

On the Web:

  • Introducing the Uber API - Uber Blog - "As of today, we officially open—to all developers—access to many of the primitives that power Uber’s magical experience. Apps can pass a destination address to the Uber app, display pickup times, provide fare estimates, access trip history and more."
  • Uber Launches An Open API With 11 Partners, Including OpenTable, TripAdvisor, and United Airlines - TechCrunch - "That means any app that can send a destination address to Uber will be able to display pickup times and fare estimates without users having to leave their apps. For a small set of select partners, Uber will also allow users to request a car without having to open its own app."
  • Wells Fargo Launches Accelerator To Promote Innovation In Financial Services - TechCrunch - "Sahni said the company had informally been running an accelerator-like program for years, looking out for smaller companies and helping them prepare for “prime time.” Now the bank is making it official so that it can give these startups exposure and guidance from across the company."
  • First Data, a Payment Processing Giant, Looks Beyond the Swipe - StreetFight - "Senior Vice President of First Data Ventures Peter Donat said the partnership will allow First Data to improve its analytics platform, which uses sales information to create actionable solutions for small to midsized businesses."
  • This is how PayPal will take over your phone - VentureBeat - "Braintree’s new SDK, combined with this new payment feature, has the potential to make PayPal the go-to payments destination for mobile consumers and developers alike."
  • Forget Passwords. Now Banks Can Track Your Typing Behavior On Phones - Forbes - “We’re monitoring the small stuff,” says Neil Costigan, founder of Behaviosec, the Swedish security startup behind the recent roll-out. “The flight between the keys, which corners of the keys you tend to hit, where you pause."

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 19, 2014

Braintree and PayPal Bring Developers One Touch Mobile Payments

Braintree logo 140pxIn a blog post this morning, Braintree's Bill Ready introduced a new way to pay on mobile devices - called One Touch (available in beta). Ready writes:

With just a few lines of code, app developers will now be able to accept payments from millions of PayPal users… in one touch. Typing in and remembering userIDs, passwords and card numbers will quickly become a thing of the past as one touch payments will be the magical experience that customers expect, turning shoppers into buyers and app downloads into active users.
Writing on ReadWrite, Owen Thomas notes that One Touch is "a service that lets any Braintree-powered app tap into credit cards a user has already stored with another app in the Braintree family" - including the PayPal mobile app. One Touch builds upon Braintree's earlier Venmo Touch service - which it acquired in 2012.

Headline News from PaymentsNews.com - August 19, 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 18, 2014

Headline News from PaymentsNews.com - August 18, 2014

On the Web:

  • Hostility in Payments - LinkedIn (Scott Loftesness) - "The recent entry of Amazon.com into the small merchant mobile POS card acceptance market may signal the last phase of increasing hostility in the US merchant acquiring segment of the card payments business."
  • Host Card Emulation 101 (White Paper) - Smart Card Alliance - "This white paper was developed by the Smart Card Alliance Mobile and NFC Council to provide an educational resource on host card emulation (HCE), describing what it is, how it’s used, how it compares with the secure element (SE)-based card emulation approach, what key considerations are for payment applications, and what security aspects should be considered for HCE-enabled applications."
  • Banks, Retailers Speed Up Drive to Add Chips to Credit, Debit Cards - Wall St. Journal - "Although the cards still have a magnetic strip on the back to be used at merchants that haven't upgraded their technology, the computer chips don't work with a swipe at the register. Instead, shoppers slide the card into the bottom of the terminal and leave it there while the purchase is processed."
  • Three Trends That Will Make A Difference In Mobile Payments - TechCrunch (Alberto Jimenez) - "Those with a history in the mobile payments industry know that it has been a slow (and mostly disappointing) journey."
  • Coinbase Acquires Blockr.io, Welcomes New Staff - Coinbase Blog - "Today, we’re excited to announce that Coinbase has acquired Blockr.io. As part of the acquisition, we’re able to welcome two of its exceptionally talented employees to the Coinbase team: software engineer Sašo Matojina and designer Samo Drole."
  • CFPB Warning Ignores Bitcoin’s Consumer Protections - CoinDesk (Jon Matonis) - "While we should definitely heed the risks within a digital currency environment, just as we heed the risks inherent with physical money, we should be equally aware of the additional financial protections provided by bitcoin that are so critical for maintaining a free society."
  • How Bitcoin might transform international payments — a lifeline for millions - VentureBeat - "Remittance payments are a lifeline. ... Many of the financial institutions that move money back and forth charge exorbitant fees to keep that lifeline open—sometimes ten percent or more."

On the Wires:

  • Simon And Blackhawk Network Expand Relationship With Enhanced Visa Simon Giftcard - "Blackhawk's product gives us access to more consumer demanded features and the new deal will allow consumers to have the added convenience of buying our newly branded Simon Giftcard at participating Blackhawk distribution locations nationwide."
  • Navicure Launches New Patient Payment Platform - “To continue to thrive, healthcare organizations must collect patient payments at or near the time of service and no longer rely solely on patient statements, which can come months after care and long after the patient remembers what procedures were performed."

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 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.

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