On the web:
- Why Some Are Turning to Sound for Mobile Payments and More - MIT Technology Review - "There are pluses and minuses—audio clearly is going to be a tougher technology to use on a crowded conference floor than an electronic radio technology..."
- Maintaining a Robust and Efficient Cash System in a Changing Landscape - Federal Reserve Bank of San Francisco - "To maintain confidence in U.S. currency and increase the efficiency of the cash system, the Federal Reserve has taken several innovative steps in recent years to reduce operating costs and provide incentives to the private sector to choose efficient cash handling options."
- Digital payment systems dreamed up in the Web era still piggyback on credit card networks. There ought to be a faster and cheaper way. - MIT Technology Review - "Ben Milne asked himself that question, and the answer led him to found Dwolla, a digital payment network that could make it faster, easier, and safer for money to change hands."
- Tips from regulation conference on Bitcoin compliance - Lightspeed Venture Partners - "I attended last week’s National Money Transmitters Association (NMTA) conference on virtual currencies compliance, which brought together top regulators, litigators, and entrepreneurs, and got some of these questions answered."
- Why Regulators Should Embrace Bitcoin - American Banker BankThink (Jerry Brito) - "Regulators should not see this as a challenge to their authority, but simply as a fact—a consequence of decentralized peer-to-peer technology."
- Bitcoin: Understated benefits and overstated risks - The Hill (Andrea Castillo) - "Before regulators rush to mitigate anticipated harm, they should first understand how this technology works and how it can improve lives."
- YC-Backed Buttercoin Uses Bitcoin To Attack The $500B-A-Year Remittances Economy - TechCrunch - "Buttercoin plans to open in India within the next three months and then to operate in six countries in nine months’ time. Their model is to open a local Bitcoin exchange in each country."
- YC Startup True Link Financial Is Out To Help The Elderly Avoid Scammers With Pre-Paid Visa Cards - "True Link Financial is building a “safe” credit card for cognitively impaired senior citizens who might not have the ability to see through scams..."
- UK Payments Council report states that mobile internet payments will quadruple by 2022 - Financial Services Club Blog - "I just got a copy of the Payments Council’s UK Payments Markets 2013 Report, and it makes fascinating reading about a developed economy’s changing payments habits."
- Payments Winners/Losers? - FinVentures (Tom Noyes) - "This brings me to the obvious looser in next 5 yrs: Retail banking in the US."
- What PerkStreet’s Demise Means For “Neobanks” - Pymnts.com VC Voices (Matt Harris) - "Given how much of the growth (nearly all) for Simple and Moven has been viral and free, and how valuable this segment is once you get them, there is little question about the core economics of these companies."
- India’s currency is collapsing. Is it Ben Bernanke’s fault? - Washington Post WonkBlog - "In India, the rupee currency has fallen 15 percent against the dollar since the start of May, with a particularly sharp decline since the start of August."
- CoinDesk launches bitcoin information centre - CoinDesk - "The initial guides contained in the information centre are designed to get people started with the basics of mining, buying, and trading bitcoins."
On the wires:
- Traditional Risk-Based Segmentation is not Relevant for Mobile and Emerging Payments, According to Research from the Auriemma Consulting Group - "No significant differences existed based on risk profiles or credit lines, meaning the traditional risk-based segmentation used by banks is not be relevant for mobile and emerging payments."
- Does Your Financial Institution’s Digital Strategy Pass the ROI Test? - "Large investments in emerging services like mobile and online do not always translate into higher customer satisfaction or even high financial performance."
- Stanford Research: How to Wean Businesses of Over-Borrowing - “Broadly defined, there are two policy tools to achieve tax neutrality with regard to financing decisions,” he says. “The first is to eliminate the existing tax subsidy for debt, and the second is to allow a similar deduction for equity.”
Updates from Glenbrook:
- Join us for our new series of Glenbrook Payments Boot Camps coming this October - 8th/9th in the San Francisco Bay Area and 23rd/24th in New York City!
- Be sure to take our new Payments and Bitcoin survey asking what you think about Bitcoin in particular and math-based currencies in general!
- 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