On the Web:
- What is EMV? You have questions, we have answers. - Square Blog - "Here's where Square comes in. We’re building an EMV-compliant reader that’s incredibly affordable and easy to use. We’re also working on several solutions for our Square Stand customers."
- Square Plans a New, Chip-Friendly Credit Card Reader - New York Times Bits Blog - "Square’s new reader will be compatible with microchip-enabled credit cards."
- PayPal: Give Us Some Credit - ReadWrite - "It may be that moving money from point A to point B may not be PayPal's long-term destiny. Fronting the cash to make commerce happen may be."
- Facebook Is Shutting Down Gifts To Focus On Its Buy Button And Commerce Platform - TechCrunch - "With Gifts on its way out, Facebook can focus on what does work: helping businesses sell more to Facebook’s users, rather than selling products to them directly."
- BitPay Offers ‘Free and Unlimited’ Payment Processing for Merchants - CoinDesk - “We have set a goal to enroll 1 million merchants by the end of 2016 […] When we started BitPay in 2011, we saw an opportunity to finally give merchants around the world relief from interchange fees."
- Bill Me Later Is Now PayPal Credit, PayPal Working Capital Exceeds $150 Million and Both are Going Global - PayPal Forward Blog - "There’s nothing more important in today’s economy -- whether you’re shopping online or a global retailer ---than the credit flexibility to take the leap. Make the purchase, expand the business or offer your customers more options - seize the opportunity. PayPal is here to give you that boost."
- PayPal Will Expand Business and Consumer Lending Outside the U.S. - "EBay will change the name of its Bill Me Later consumer-lending program to PayPal Credit and push it into the U.K. and Germany later this year. Its small-business offering, PayPal Working Capital, will expand to the U.K. and Australia."
- GE Set to Spin Off Synchrony As Consumer Finances Rebound - Wall St. Journal MoneyBeat - "The company is the largest issuer of store-branded credit cards, lending to the customers of retailers like Wal-Mart Stores and Amazon.com."
On the Wires:
- First Data Announces Agreement to Acquire Gyft, the Leading Digital Platform that Enables Consumers to Buy, Send, Manage and Redeem Gift Cards Using Mobile Devices - “Gyft, with its mobile gifting platform, and First Data, with its global scale and distribution network, together will accelerate the growth of virtual prepaid with powerful new tools for merchants of all sizes to deepen their relationships with their customers,” said Guy Chiarello, president, First Data. “This means that the same robust toolset deployed by big box retailers will be coming soon to small- to mid-sized businesses, perfectly synched with our mission to offer innovative solutions to help our clients grow.”
- Amazon Announces Additional US $2 Billion Investment in India - "We see huge potential in the Indian economy and for the growth of e-commerce in India. With this additional investment of US $2 billion, our team can continue to think big, innovate, and raise the bar for customers in India. At current scale and growth rates, India is on track to be our fastest country ever to a billion dollars in gross sales."
- BitPay's New Plan: Free, Unlimited, Forever - “When we started BitPay in 2011, we saw an opportunity to finally give merchants around the world relief from interchange fees. By offering a basic plan that is free and unlimited, forever, we give merchants yet another reason to be excited about bitcoin.”
- Bank of America Changes the Game With Preferred Rewards - “Preferred Rewards is the first program of its kind to offer clients benefits and rewards for everyday banking,” said Dean Athanasia, president of Preferred Banking at Bank of America. “It is the result of deep client research to develop and deliver a simple program that provides clients benefits and rewards they will actually use, and shows them how much we appreciate it when they choose to do more business with us.”
- Blackhawk Network and Amazon Offer New Mobile Wallet Capabilities - "Blackhawk Network's expertise in gift card management provides our customers with access to the retailers they want and the digital experience that Amazon is committed to delivering," said Charlie Kindel, Director, Amazon Local Commerce. "Together we are helping consumers get the full value of their gift cards with the safety and convenience of storing them digitally. Instead of fearing they might lose or forget about them, they can have them on hand to use wherever and whenever they choose."
- Heartland Payment Systems to Acquire TouchNet Information Systems, Inc. - “I am extremely pleased to announce the acquisition of TouchNet, which is not only Heartland’s largest acquisition to date, but is also an excellent complement to our existing Campus Solutions business that will immediately improve our growth profile and contribute to our bottom line,” said Robert O. Carr, chairman and CEO of Heartland Payment Systems.
- Boku Unlocks India for Mobile Payments - “We knew early on that Qubecell had the right approach, the right people, and the right technical capacity to be a great fit with Boku,” said Jon Prideaux, CEO of Boku. “Now that our integration is complete we are providing existing Boku merchants – including top social media networks and global games companies -- with the very best access to the Indian market. Indian companies also now have access to Boku’s global network."
- New Fiserv White Paper Outlines Immediate Mobile Payments Opportunities for Financial Institutions - "Titled “The Four Pillars of Mobile Payments: Immediate Opportunities,” the white paper outlines how a strategic approach to mobile payments starts with the services consumers are using today."
Updates from Glenbrook:
- Glenbrook Payments Boot Camps: Aug 5-6 in San Jose, CA.; Oct 7-8 in Palo Alto, CA.; Oct 21-22 in New York City; Dec 9-10 in Palo Alto, CA.
- Money2020 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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