On the web:
- Venmo's Social, Increasingly Hilarious Payments Community - Fast Company - "The shared payment notes give insight into what your friends are up to; they're also often amusing to read."
- Xerox Glitch Halts Food-Stamp Use - Wall St. Journal - "Shoppers in 17 states were unable to use food stamps and other government aid through debit-style electronic benefits cards for more than 10 hours on Saturday..."
- Why did we create Wisely? - Wisely Blog - "At Wisely, we’re building the most credible search engine for the physical world, powered by payment data. Why is it the most credible? Because, Wisely brings transparency to how people spend money."
- Mobile Payments - Two Major Systems Set To Go In The US - Forbes - "Merchants want a system that is secure, won’t steal their data, provides a good marketing platform and the lowest possible cost for transaction. Consumers want something that is secure and simple to use."
- Not Ready to Adopt Mobile Payments? You're Not Alone - BusinessNewsDaily - "The technology to accept payments via mobile devices is ripe and ready, but a recent industry study shows that it will take at least two more years for mobile payments to truly become mainstream."
- The Rise of PayPal as a Major Payments Player - Bank Marketing Strategy - "While some of the 'innovation' at PayPal may not seem new or disruptive (such as the use of QR codes), the ability to quickly build scale by using the existing payments infrastructure may be the key to PayPal's success."
- Small Business Success with PayPal: ChinaTour.Net - PayPal Forward Blog - "...PayPal has helped the ChinaTour.Net online air ticket business avoid an 85% risk of malicious fraud..."
- Stuck in a Dispute Between PayPal and Itself - New York Times (David Segal) - "If PayPal isn’t the most reviled online company in the country, which is?"
- Mint Wireless to launch local version of US payments start-up Square - Financial Review (Australia) - "But where Square has built its own user base by selling direct to businesses, Mr Teoh told The Australian Financial Review that Australia’s heavy regulations and existing market structure required them to work through the banks and telcos."
- Divide and Conquer: Commerce Battlefield - FinVentures (Tom Noyes) - "Banks are NOT the center of commerce, just as my ISP or MNO is not the reason I shop at Amazon."
- Unbreakable encryption comes to the U.S. - CNNMoney - "As revelations about the depth and breadth of the NSA's digital eavesdropping program continue to come to light, Ohio-based Battelle Memorial Institute is rolling out a new kind of network encryption designed to be virtually un-hackable -- not only now, but in the future."
- Leading Economist Predicts a Bitcoin Backlash - Mashable - "Simon Johnson, a professor of entrepreneurship at MIT’s Sloan School of Management, expects Bitcoin to face political pressure and aggressive lobbying from big banks because of its disruptive nature."
- Privacy and fraud dominate discussion at LA bitcoin event - CoinDesk - "All in all, the event signified the fact that bitcoin is growing and that LA area technology enthusiasts are ready to do business with BTC."
On the wires:
- VeriFone Increases Speed and Versatility of C-Store Management with New POS and Site Management Solutions - “These next-generation systems build on the success of our Sapphire site controller and original Ruby POS systems with the ability to expand in order to meet customers’ future needs.”
- Gemalto Enables Commercial Mobile NFC Transport and Payment Roll-out in Hong Kong - "The Octopus Mobile Payment Service is the world’s first commercial SIM-based implementation and deployment of the FeliCa application on NFC SIMs."
- VeriFone and National Payment Card Association Debut Mobile Payment and Rewards Solution - "Utilizing VeriFone’s Smart Fuel Controller and NPCA’s mobile payment solution, c-store and gas station operators with VeriFone payment acceptance systems can quickly implement a fixed low-cost mobile payment and rewards program built on existing infrastructure used for merchant branded debit cards."
- Discover Cardmembers Can Earn 5% Cashback Bonus – up to a Cool $75 – Simply for Shopping Online This Holiday Season - "Cardmembers can sign up now to get 5% Cashback Bonus on up to $1,500 in purchases through December for online shopping for things like apparel, electronics, toys, gifts and more, as well as make the most of their Black Friday and Cyber Monday shopping."
- Citi Achieves Milestone in Digital Strategy through Expansion of Global Electronic Bank Account Management Solution to 55 Countries - "Citi’s Treasury and Trade Solutions has expanded its Electronic Bank Account Management (eBAM) service footprint to 55 countries, reinforcing Citi’s commitment to digitizing its capabilities and becoming the world’s leading digital bank."
- Wells Fargo Team Members Trade Offices for Classrooms During Its Annual Support of ‘Get Smart About Credit’ - "More than a thousand Wells Fargo & Company team members are expected to volunteer in classrooms and nonprofits throughout the country as part of Get Smart About Credit, a national financial education program about the responsible use of credit."
Updates from Glenbrook:
- Looking for consulting help from Glenbrook? Let us know your needs here - and we'll get right back to you!
- Join us for our Glenbrook Payments Boot Camp on October 23rd/24th in New York City!
- Glenbrook's Elizabeth McQuerry will be speaking at this year's NACHA Global Payments Forum on October 17-18 in New York City. She'll be speaking on the topic "Mobile Payments, Interoperability & Faster Funds Transfer".
- Glenbrook's Carol Coye Benson will be speaking at this year's American Bankers Association Annual Convention on October 20-22 in New Orleans. She'll be participating in a panel discussion on The Future of the Payments Industry.
- Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews