On the Web:
- Do You Have Another Credit Card, Mr. President? - New York Times - “My credit card was rejected,” Mr. Obama said at the Consumer Financial Protection Bureau, making small talk as he signed an executive order aimed at protecting Americans from identity theft and credit card fraud.
- MasterCard’s Apple Pay alternative: A card with NFC and a fingerprint sensor - "MasterCard has partnered with Zwipe, a company that develops fingerprint sensors, to create a credit card that includes both contactless payments and biometric security."
- Starbucks launching mobile ordering in Portland; full U.S. rollout in 2015 - CSA - “Mobile ordering will deliver convenience, frequency and speed of service and over time, become the fastest and easiest way for customers to order, pay and pick up their purchases,” the company said in a statement.
- Discover Tests Wearable Apps for Google Glass and Watches - "I think that wearables in time will converge over providing a number of specific benefits to human computer interactions that you can’t get through other form factors."
On the Wires:
- White House - FACT SHEET: Safeguarding Consumers’ Financial Security - "The President’s Executive Order (EO) lays out a new policy to secure payments to and from the Federal government by applying chip and PIN technology to newly issued and existing government credit cards, as well as debit cards like Direct Express, and upgrading retail payment card terminals at Federal agency facilities to accept chip and PIN-enabled cards."
- American Express to Boost Merchant Adoption of Secure Payment Terminals - “We know from speaking with our smallest merchants that they are too busy running the day-to-day operations of their businesses to keep up with the constantly-changing fraud landscape,” said Anré Williams, President, Global Merchant Services, American Express. “That is why we’re launching this program to help educate small merchants about point-of-sale security and offset the cost of upgrading their terminals."
- Visa Kicks Off U.S. Chip Card Education for Consumers and Merchants - “The adoption of chip technology has the potential to virtually eliminate counterfeit fraud when widely adopted, and will help consumers feel more confident about using their payment cards,” said Ellen Richey, chief enterprise risk officer, Visa Inc. “Moving quickly to adopt technologies like chip cards, and digital account numbers or “tokens” in place of payment account data, will further protect personal account information by putting it in a form that if stolen, can’t be used by criminals.”
- NRF Applauds Executive Action on Data Security - “We applaud the administration for taking proactive and positive steps by adopting PIN and chip technology for government-issued debit and credit cards, among other things."
- Apple Pay Available to Millions of Visa Cardholders - “Today marks a new era for Visa and the payments industry. Combining the power, reach and security of Visa’s network with a new payment experience from Apple will truly change the way people pay,” said Ryan McInerney, President, Visa Inc.
- Apple Pay To Be Available to Chase Customers and Merchants - “This is an exciting development for mobile payments,” said Gavin Michael, head of Digital at Chase. “The ubiquity of Apple combined with the reach of Chase and other major issuers points to the potential to dramatically accelerate the adoption of mobile payments.”
- NCR launches order ahead application with support for Apple Pay“Supporting Apple Pay to deliver order ahead functionality is another way that NCR, with the Silver system, continues to be a true partner to small businesses,” said Justin Hotard, president, NCR Small Business.
- Nearly Half of U.S. Merchant Terminals to Accept Chip in 2015 - "The Payments Security Task Force (PST) today announced a forecast of participating acquirers who estimated that at least 47 percent of U.S. merchant terminals will be enabled for EMV chip technology by the end of 2015. The estimates are based on forecasts provided by acquirers representing approximately 80 percent of U.S. purchase volume."
- MasterCard and Zwipe announce the launch of the world’s first biometric contactless payment card with integrated fingerprint sensor - Speaking about the launch, Ajay Bhalla, President of Enterprise Security Solutions at MasterCard commented “Our belief is that we should be able to identify ourselves without having to use passwords or PIN numbers. Biometric authentication can help us achieve this. However, our challenge is to ensure the technology offers robust security, simplicity of use and convenience for the customer."
- Dad’s Roast Custom Coffee Selects MyECheck to Provide Electronic Check Services - “Our agreement with Dad’s Roast Custom Coffee demonstrates a growing need among businesses for innovative, safe and alternative payment solutions,” said Ed Starrs, chairman and chief executive officer of MyECheck. “To date, we’ve processed more than 10 million fully electronic checks with not one fraud complaint or refund, making this truly a revolutionary payment alternative.”
Updates from Glenbrook:
- Glenbrook's Payments Boot Camps: Oct 21-22 in New York, NY; Dec 9-10 in Palo Alto, CA.
- Glenbrook's Bitcoin: Basics and Beyond Workshop: Nov 19 in New York City
- Money20/20 as become the go-to event in payments... we'll be there in force. The agenda is now available and the event is 90% sold out - if you've been waiting, it's time to register! Use this promo code to register and receive a 20% discount: "GLENBR20"
- Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews