On the Web:
- Jack Dorsey Elected to The Walt Disney Company Board of Directors - “Jack Dorsey is a talented entrepreneur who has helped create groundbreaking new businesses in the social media and commerce spaces,” said Robert A. Iger, Disney’s chairman and chief executive officer.
- Target hack overreaction No. 2: Chip cards will stop fraud! No, they won’t. Here’s why - Bob Sullivan - "And consumers should remember this: the great credit card fraud debate renewed by the Target hack has nothing to do with protecting consumers."
- Target data breach spurs lawsuits, investigations - USA Today - "We are using 20th century cards against 21st century hackers," says Mallory Duncan, general counsel at the National Retail Federation.
- Non-US Cards Used At Target Fetch Premium - Krebs on Security - "It’s not clear how quickly the non-U.S. cards are selling, but they seem to be fetching a much higher price than those issued by U.S. banks."
- Singapore Regulators: We Will Not Interfere With Bitcoin - CoinDesk - "At a time when many central banks and regulators are issuing bitcoin warnings and taking steps to limit bitcoin-related trades, Singapore’s central bank has decided to steer clear of bitcoin, for now at least."
- Addressing Big Development Challenges with Financial Innovation - CGAP Blog - "There is increasing evidence from Kenya, Tanzania, Pakistan, Bangladesh and elsewhere that shows that even a basic mobile wallet that allows people to save and transact brings benefits. But the story clearly is far from over."
- Here We Go: Number 10! - Portals and Rails - "As the year draws to a close, the Portals and Rails team would like to share its own Top 10 list of major payment-related events that took place in the United States this year."
- When Will Big Retail Rethink Point-of-Sale? Sooner Than You Think - StreetFight - "We view Square as more of a payment provider. Sure, they have Square Register, but that’s more replicating the functionality of a cash register rather than building the core functionality of a point-of-sale system with business intelligence and analytics..."
- Banks Mostly Avoid Providing Bitcoin Services - "It is really, really hard to get a bank account, because banks don't know if bitcoin is friend or foe," said Meyer "Micky" Malka, a former banker and founder of Ribbit Capital...
- Into the Bitcoin Mines - New York Times - "These computers are the laborers of the virtual mines where Bitcoins are unearthed. Instead of swinging pickaxes, these custom-built machines, which are running an open-source Bitcoin program, perform complex algorithms 24 hours a day."
- A Locked Door, A Secret Meeting And The Birth Of The Fed - Planet Money - "The plan for a central bank was debated, changed significantly, renamed. But the basic idea held up. And on December 23rd, 1913 President Woodrow Wilson signed the Federal Reserve Act into law."
- Hello Bitcoin, goodbye Western Union? The future of remittance could be digital - Radio Netherlands Worldwide - "Techies believe that Bitcoin might be just what these migrants are looking for. Sending Bitcoin across borders and exchanging to and from the cryptocurrency is practically free of charge, and it doesn’t require the interference of any bank or government."
- J.P. Morgan Chase Places Limits on Debit Cards Used During Target Breach - Wall St. Journal - "We are taking additional measures to protect Chase accounts from the Target breach, and our branches and call centers are there to help these customers," a Chase spokesperson said.
- Amazon Bought GoPago’s Mobile Payment Tech And Product/Engineering Team, DoubleBeam Bought The POS Business - TechCrunch - "Amazon really wanted the GoPago technology, a source says, but not the existing business."
On the Wires:
- MoneyGram Reaches 200 Country Network Milestone - “This is an important achievement in our continuous efforts to strengthen our network and to reach more customers across the globe,” says Pamela H. Patsley, chairman and chief executive officer at MoneyGram.
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