On the Web:
- Disrupting Payments, Africa Style - Re/code.net (Steven Sinofsky) - "I think the most interesting point of note in this solution is how it essentially skips over banking."
- Square joins the internet of things, integrating its sales data with IFTTT - GigaOm - "IFTTT users now have the ability to build recipes using Square sales, refund and settlement data as triggers." (See: IFTTT Square Channel)
- Facebook’s Profit Propelled by Mobile - New York Times - “I really can’t underscore this enough that we have a lot of work to do. We could take the cheap and easy approach and put ads in and do payments and make money in the short-term, but we’re not going to do that.”
- Mark Zuckerberg Doesn't Want to Monetize Messaging Yet. Here's What He's Missing - Bloomberg - "Zuckerberg did suggest that payments — an area Marcus is well-versed in — will probably be a part of the equation. ... But payments is the standard business model for messaging apps around the world, including the one Facebook just bought, and it's looking to be a mega business."
- Facebook Says Messenger And Payments Will Eventually “Overlap” But Don’t Hold Your Breath - TechCrunch - "Facebook could engender good will and save families money while still turning a tidy profit by undercutting traditional remittance players like Western Union, MoneyGram, Remit2India, and more."
- Will retailer rejection put out Amazon Wallet’s fire? - Mobile Commerce Daily - "As technically superior as mobile wallets are, they struggle to be as simple and straightforward as the dumb piece of plastic that we fetch and swipe in a couple seconds."
- How MasterCard became a tech company - Fortune - "Now the company most people associate with a piece of plastic is going virtual, digital, and biometric."
- Circle responds to complaints that its bitcoin purchases are treated as cash advances - PandoDaily - "It seems, that in at least some cases, when users purchase bitcoin through Circle using their credit card, those cards have been charged in the form of a cash advance."
On the Wires:
- LoopPay Secures Investment from Visa Inc. - “Visa continually evaluates and invests in new technologies that have the potential to transform mobile devices into secure payment vehicles,” said Jim McCarthy, senior vice president of innovation and strategic partnerships, Visa Inc. “LoopPay has developed compelling technology that has the potential to enable merchants to accept payments from mobile devices using their existing point-of-sale infrastructure.”
- Citi® Commercial Cards Joins With Concur® to Offer a New, Enhanced Reporting Solution - We’re excited to partner with Concur, a recognized leader in the industry, to provide these reporting packages to our clients. These enhanced travel reports will not only provide efficiencies for our customers by automating current manual processes, but also enable clients to make key travel program decisions more quickly and with more confidence,” noted Manish Kohli, Citi’s Global Head of Commercial Cards.
- Discover® Fuels Summer Fun with Cashback Bonus® at Gas Stations - “Discover cardmembers who are commuting or traveling can earn up to $75 Cashback Bonus for the many miles they drive during the summer months,” said Heather L. Roche, vice president of rewards at Discover.
Updates from Glenbrook:
- Glenbrook Payments Boot Camps: Aug 5-6 in San Jose, CA.; Oct 7-8 in Palo Alto, CA.; Oct 21-22 in New York City; Dec 9-10 in Palo Alto, CA.
- Money2020 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.
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