On the web:
- Global Banking: A Failure of Structural Integrity by Thomas M. Hoenig, Vice Chairman, Federal Deposit Insurance Corporation - "In the quest to improve financial industry stability, behavior and performance, it is unfortunate that we choose complicated administration over structural change. It is the financial structure that is inherently unstable, yet it remains mostly unchanged from that which existed prior to the crisis."
- It’s Hard to Summon Sympathy for Big Banks - New York Times (Floyd Norris) - "It’s no fun to be a banker these days. It is not just the increased regulation. It’s the lack of trust."
- “No cash? No problem?” – Covent Garden Market Transforms to End the Cashpoint Dash - PayPal UK Blog - "By using new PayPal technology, stall holders in the market need never again turn away customers who don’t have cash on them."
- China drafting regulation for mobile payment: report - English.news.cn - "An official with the People's Bank of China (PBOC) said the central bank is drafting payment rules to regulate cell phone-based mobile payments..."
- Tim Hortons launches NFC payments service using Host Card Emulation - NFC World - "North American coffee chain Tim Hortons has launched an NFC mobile payments service using Host Card Emulation (HCE) at 3,500 locations in Canada and 800 in the United States."
- PayPal targets market traders - Telegraph - "Stallholders at the 800-year old Apple Market in London’s Covent Garden ... are the latest small businesses to adopt PayPal Here."
- How Square Register’s UI Guilts You Into Leaving Tips - "While a 20% tip may not sound otherworldly, the crucial difference here is that Square is facilitating tips at non-traditional venues--ice cream parlors, coffee shops, bakeries--places where tipping 20% (or tipping anything, for that matter) is not terribly common..."
- Google Wallet makes gains against PayPal in mcommerce checkout - Mobile Commerce Daily - "With Google Wallet Instant Buy, consumers can use their Google Wallet login to checkout in a few taps. They simply click on “Buy with Google” to bypass all of the irritating typing."
- RBS Wrote a Manual for How to Evade Sanctions - Risk & Compliance Journal - "RBS apparently wrote a “step by step guide” for its employees on how to get around U.S. sanctions."
- Debit Networks Form Organization to Work on EMV As Court Mulls Durbin Decision - Digital Transactions - "The Alliance, founded by AFFN, ATH, Co-Op Financial Services, Jeanie, NETS, NYCE, Presto!, Pulse, Shazam, and Star, wants to ensure the same competitiveness that exists today continues following the EMV migration, says Paul Tomasofsky, executive director of the Alliance and president and executive director of the Secure Remote Payment Council, an association."
- Study confirms post-Durbin effects on debit card use - ATM Marketplace - "Debit card penetration in the United States has fallen from a high of 68 percent in 2011 to a low of 59 percent in 2013."
On the wires:
- QuickPay Corp. Raises $5.5 Million in Additional Funding - "QuickPay Corp., a premier provider of mobile parking payment solutions, today announced the completion of $5.5 million in additional funding."
- SpotPay Mobile Payments Solution Featured in the WIRED Store in New York City - "SpotPay from Fiserv is an anywhere, anytime mobile payments solution for small businesses that facilitates card acceptance of payments from a smartphone or tablet, providing fast, secure access to funds."
- Leading PIN Debit Networks Form New Company - "Ten leading PIN debit networks in the United States have formed a new company, Debit Network Alliance, to provide a structure for the governance, deployment and implementation of the EMV debit standard."
- ATMIA announces EMV routing actions - "The ATM Industry Association has issued a position paper urging payment networks and ATM deployers to work together to retain open market flexibility in routing choices."
- European Banking Authority warns consumers on virtual currencies - "The European Banking Authority (EBA) issued today a warning on a series of risks deriving from buying, holding or trading virtual currencies such as Bitcoins."
- Pressat Now Takes Bitcoin for PR Services - “We’re proud to be the first public relations company in the UK to accept Bitcoins as a payment method, I believe we are also the worlds first!”
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