On the Web:
- In raising cash, Square heads for $6B valuation: Sources - CNBC - "The San Francisco-based company, led by Twitter co-founder Jack Dorsey, is aiming to reel in about $200 million, with part of it coming from the Government of Singapore Investment Corporation (GIC)..."
- India's Online Rules to Change How Companies Charge Customers - Wall St. Journal - "In a circular on Friday, the Reserve Bank of India said all transactions between Indian customers and Indian sellers need to be settled in the local currency, the rupee, and follow a two-step security procedure."
- Turkish Payment Platform Iyzico Raises Further $1.4M - TechCrunch - "How long the Turkish startup can fend off Rocket Internet and Stripe, should the latter choose to enter the region, remains to be seen."
- On To-Do List: Deposit Cash in Bitcoin A.T.M. - New York Times Dealbook - "As Bitcoin gains acceptance, such A.T.M.s are providing a fast path to change cash to Bitcoin."
On the Wires:
- Square Releases Update to Cash App: Instantly Text or Email Money for Free - "The update adds the ability to simply send or request money from everyone in your address book using just their phone number (or e-mail address), even if the recipient doesn’t have the app."
- Formation of the Australian Payments Council - "The Reserve Bank of Australia welcomes the establishment of a new coordination body for the Australian payments industry – the Australian Payments Council – and the appointment of Ms Christine McLoughlin as its inaugural Chair."
- MainStream Merchant Services and Womply Partner to Offer Merchants Industry-Leading Analytics, Benchmarking and Competitive Intelligence Solution - “By partnering with Womply, we continue to deliver a hands-on, consultative approach to payment processing. MainStream Insights will offer a premier business intelligence and analytics tool, which gives our customers a new view into their own business.”
- Sequent Awarded “One Tap” Mobile Payments Patent - "The United States Patent number 8,811,895 covers the transmission of multiple digital accounts from a mobile device to a merchant POS system via Near Field Communication (NFC) technology. This comprehensive patent covers any two or more digital accounts being transmitted at the same time including credit, debit, prepaid, offers, loyalty, coupons, vouchers and more."
- Apriva and GoCoin Drive Innovation in Payments with New Strategic Partnership - “As the payments industry evolves, we want to empower merchants by giving their consumers the option to use the latest payment forms for their purchases,” said Steve Beauregard, founder and CEO of GoCoin. “Our partnership will enable Apriva’s resellers and ISVs to provide their merchants the most comprehensive selection of payment options offered today.”
Updates from Glenbrook:
- 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.
- Feedback: How are we doing for you? I'd love to hear from you - drop me a quick note: email@example.com or leave me a voicemail: +1.650.469.3421.
- Got news? Please forward press releases to: firstname.lastname@example.org.
- Need consulting help from Glenbrook for one of your payments projects? Let us know your needs here - and we'll get right back to you!
- Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews