On the Web:
- Walmart Prepares to Offer Low-Cost Checking Accounts - New York Times - "Walmart, the nation’s largest retailer, is teaming up with Green Dot, known for its prepaid payment cards, to supply checking accounts to almost anyone over 18 who passes an ID check."
- Fraudulent Transactions Surface in Wake of Home Depot Breach - Wall St. Journal - "The flood of recent incidents across numerous retailers means that cardholders may have shopped at more than one merchant that had been attacked, making it difficult to decipher which fraudulent transaction is tied to which breach."
- iPhone 6 teardown shows NFC chips from NXP — and AMS - NFC World - "A teardown conducted by iFixit shows that Apple is using NFC chips from both NXP and AMS in the new iPhone 6..."
- With Apple’s iOS 8, Your Fingerprint Can Become the Master Password - New York Times Bits Blog - "By following a few steps, I was able to set up my iPhone to log into websites I regularly use with a touch of my finger. No more passwords."
On the Wires:
- Online Merchants and Shoppers Embrace Affirm Financing Service - “We started Affirm on the belief that the current FICO-based credit rating system was not working for many consumers,” said Affirm CEO and co-founder Max Levchin, “It’s now clear that online shoppers and merchants were ready for an affordable, transparent alternative to old-school credit cards.”
- Visa Accelerates Technology Strategy with Global Recruitment Plan and New Technology Center - “Visa is fortunate to already have some of the most accomplished and motivated industry technologists at the company today,” said Rajat Taneja, Visa’s executive vice president of technology. “This investment allows us to strengthen our talent pool globally, and bring more of it in-house, providing greater opportunity for professionals to grow their careers with the technology payments leader.”
- FS-ISAC and DTCC Announce Soltra, a Strategic Partnership to Improve Cyber Security Capabilities and Resilience of Critical Infrastructure Organizations Worldwide - "Named after one of the best-known medieval beacon fire networks in Europe that warned of invaders, Soltra Edge will connect and streamline the flow of threat intelligence between communities, people, and devices by processing large amounts of threat data, improving efficiencies and enabling immediate action to counter the threat and mitigate risk."
- Kabbage Launches Karrot: Personal Loans Made Simple - "Karrot will provide consumers with the same simple and streamlined access to loans for which Kabbage is known."
- Hundred-Year-Old CBW Bank One of the First U.S. Banks to Integrate Ripple as Transformational Money Transfer Protocol - "CBW will augment its industry-leading platform for payments with Ripple to enable secure, instant, cross-border funds transfers in any currency for consumers, credit unions, and other banks."
- Fifth Third Bank Launches New Division Focused on Payments and Commerce Solutions - "The new division was created to rethink the payment and commerce experience with innovation that delivers greater value to customers. The organization is led by Randy Koporc, executive vice president and head of Fifth Third Payments and Commerce Solutions."
- ACI Worldwide Strengthens Partnership with Yodlee, Empowering Financial Institutions to Increase Customer Engagement and Loyalty - "ACI is leveraging its Universal Payments (UP) framework to integrate multiple Yodlee API services—including aggregation, eBills, Alerts, PersonalFinance, FinApps and FastLink—across its online banking and ACI UP Banking Bill Payment solution suite."
- NFC Forum Publishes Recommendations for Creating Optimal User Experiences during Device Connections - "NFC's connection handover function is targeted for situations where the amount of data to be transferred is too large to be transmitted over NFC during the time of a touch, or when data is to be streamed for a longer time."
Updates from Glenbrook:
- Join Elizabeth McQueery and Manfred Schuck for Glenbrook's Payments in Europe Workshop - Oct 9 in Palo Alto, CA
- Glenbrook Payments Boot Camps: Oct 7-8 in Palo Alto, CA.; Oct 21-22 in New York City; Dec 9-10 in Palo Alto, CA.
- Money20/20 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.
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