On the Web
- Target in $39.4 million settlement with banks over data breach - Reuters - "Target Corp has agreed to pay $39.4 million to resolve claims by banks and credit unions that said they lost money because of the retailer's late 2013 data breach."
- Analysts Are Mixed on Square’s Prospects - Wall St. Journal - "Analysts have started to weigh in on payments processor Square Inc., and so far, there’s no consensus on the stock’s prospects."
- FreshBooks takes on Square with $30 card reader that connects in-store payments with accountancy software - VentureBeat - "Cloud accounting software company FreshBooks has revealed that it’s entering the mobile-payments space with the launch of a new card reader that lets merchants accept credit card payments through a smartphone."
- Bitcoin versus M-Pesa: Digital payments rumble in the jungle - International Business Times - "On 14 December, a high court in Kenya will come to a preliminary decision in a battle between Bitcoin remittance and payments company BitPesa, which is suing Safaricom, the telecom company which operates M-Pesa."
On the Wires
- Smart Card Alliance White Paper Explores Contactless Payments and the Role of NFC Technology in U.S. EMV Migration - “There is a common misunderstanding across the market that NFC is a method of payment, but in fact it’s a communication technology that can be used with a variety of applications, one of which is payments,” said Randy Vanderhoof, executive director of the Smart Card Alliance. “NFC is a great companion technology that enables merchants to accept payments from NFC-enabled mobile devices and EMV chip cards enabled for contactless payments. This white paper will help the payments community understand what NFC and EMV really mean to them, and the key considerations for adding support for contactless payments in their EMV implementation.”
- Consumer Spending Expected to Rise This Holiday Season after 2014 Dip - "Spending is expected to be on the rise this holiday season, according to Discover’s annual holiday survey. After an 11 percent drop in expected holiday spending from $1,014 in 2013 to $900 in 2014, consumers plan to spend 3 percent more in 2015. Compared to five years ago, when holiday shoppers planned on spending $730 on average, this year’s anticipated spend of $927 represents a 27 percent increase."
- NAFCU Statement In Response to Report of Proposed $39 Million Target Settlement with Financial Institutions on Data Breach - “Much more needs to be done to make credit unions whole,” Hunt continued. “Member-owned credit unions deserve to be fully compensated.”
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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: firstname.lastname@example.org!