On the Web:
The New AmEx - Barron's - "While 64% of card purchases were for travel and entertainment in 1990, those areas now make up just 26% of spending on the cards."
- The Critical Path #122: Where the Money is - Asymco.com (Horace Dediu) - "How and why does Apple get paid for Apple Pay? Anders and Horace dive into the payments value chain and break it all down for you: whats in it for users, merchants, issuing banks and payment networks."
- Why Apple Pay could succeed where others have had underwhelming results - ArsTechnica - "Instead, Apple Pay will succeed where others have seen only tepid results because of timing (that key element in both comedy and product launches)."
- Did Apple just become a big bank? - TheHill.com - “People have been paying in the United States using plastic cards for 40 years. This is, without question, the most significant technological change in payments in four decades.”
- The Digital Wallet Revolution - New York Times - "That’s the sort of thing that the current generation of digital wallets already promises; the only obstacle is adoption by retailers. But that won’t be an obstacle for long. Frictionless exchange is a killer app."
- Digital Wallets - Credit Slips (Adam Levitin) - "The term "digital wallet" gets used a lot without much precision. It's important to understand what a digital wallet is, and isn't."
- Mobile operators abandon joint 'wave and pay' project as Apple looms - Telegraph (UK) - "Weve, a company owned by EE, O2 and Vodafone, has abandoned plans for a standard 'mobile wallet’ service that it was hoped would make it easier for retailers and banks to work with the operators."
- The ATM and the Battle for Bitcoin’s Physical Interface - CoinDesk - "The ATM Industry Association released a position paper on bitcoin ATMs this month, calling for greater regulation and welcoming bitcoin ATM operators into the fold."
On the Wires:
- TrialPay fuels mobile growth after licensing deal with Visa by launching Evergreen -- the industry's leading mobile monetization platform - "Evergreen is a powerful mobile SDK built on TrialPay's pioneering transactional advertising tools, and takes advantage of three important mobile trends: the demand for app-install marketing, the need for video mediation, and the rise of mobile commerce."
- American Express Partners with Birchbox, Bonobos and Rent the Runway to Launch Inaugural “Online’s Day Off” Shopping Event - “Online’s Day Off, like many of the other small merchant-focused initiatives supported by American Express, was created to connect our small merchant partners to seasoned entrepreneurs and industry experts who can help them successfully navigate a changing business environment,” said Ed Jay, Executive Vice President, Merchant Services, Americas, American Express.
- Santander and American Express Announce Partnership to Issue Credit Cards in Mexico - "For Santander, this partnership reaffirms our commitment to innovating in the marketplace. We are opening a new segment where clients are looking for a mix of the best services from both companies," stated Jorge Alfaro Lara, Associate General Director, Consumer Credit and Payment Tools, Santander Mexico.
- BitFury Announces Technology Roadmap for Sustained Industry Leadership - “BitFury’s full-custom design experience is one of our core company strengths that our world-class design team continues to enhance at the speed of Bitcoin,” said Valery Vavilov, BitFury chief executive officer.
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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