On the Web:
- Soon Square will deliver your gourmet pizza as well as charge it to your card - GigaOm - "Confirming reports over the weekend in The New York Times and Re/Code, Square announced this acquisition on Monday."
- Apple, Visa to Accelerate e-Payments Where Google Failed, Says Pac Crest - Barron's Tech Trader Daily Blog - "The report presumes the next model of the iPhone, an “iPhone 6,” will have contactless payments technology in it."
- European Card Fraud Map Shows Record High Losses in 2013 - FICO Banking Analytics Blog - "Credit card transactions are generally the best-protected credit channel, with wave upon wave of new technology and methodology used to strengthen protection. So it may come as a shock to learn that card losses in Europe are going up, not down."
- Easier Ways to Make Payments With Smartphones - New York Times - “I would say we’re probably still three to maybe five years away from seeing mobile payments really common, with most of us using it.”
- Chip-based credit cards are a decade old; why doesn’t the US rely on them yet? - ArsTechnica - "Most of Europe, as well as Australia, Brazil, and other major countries, have been using EMV for years. So what's taken the US so long? And now that the standard is decades-old, do we even want it anymore?"
- How digital is transforming retail: The view from eBay - McKinsey - "Devin Wenig, president of eBay Marketplaces—one of the world’s largest online markets—explains the impact of digitization on traditional retailers, bricks-and-mortar stores, the shopping experience, as well as the use of data to meet customers’ needs."
- How About the Best of Both? - Bitcoin Foundation Blog - "Wouldn’t it be cool if we had the rigor of risk management found in the EBA report and the willingness to move forward exhibited by the NYDFS? That would be the best of both worlds."
- Americans are still not swiping their credit cards - MartetWatch - “A lot of people were wiped out,” added Chris Christopher, an economist at IHS Global Insight. “There aren’t as many credit cards out there.”
- Visa Exec: Our Network Could Support Bitcoin Payments - "Shrauger’s open answers to digital currency-related questions may be indicative of his extensive background in electronic payments."
On the Wires:
- Square acquires Caviar - “Caviar’s curated, seamless delivery experience is exactly the kind of service we want to provide buyers and sellers,” said Jack Dorsey, CEO of Square. “By making delivery such a fast, friendly, and easy process, Caviar gives time back to restaurants so they can focus on what they do best — cooking great food for their customers.”
- Merchant Warehouse Integrates PayPal Into Genius Platform - "This integration will make PayPal's in-store payments available to thousands of brick-and-mortar businesses across the U.S., without requiring merchants to make additional investments in point of sale (POS) software or hardware."
- IP Commerce Launches New Service for QuickBooks® Users in the Clover App Market - "IP Commerce, Inc. and First Data Corporation today announced the launch of Commerce Sync® on Clover™ Station..."
- FTC Charges Payment Processors Involved in I Works Scheme - "According to a complaint filed by the FTC, the defendants arranged for a deceptive operation known as I Works to obtain and maintain merchant accounts that allowed it to process more than $26 million in illegal credit and debit card payments through the Visa and MasterCard payment networks."
- PBZ Group, Intesa Sanpaolo Card and American Express Launch First Hce Pilot for Mobile Nfc Payments in Croatia - "With HCE, PBZ Group can store card account details in a secure, virtual cloud. When a cardholder initiates a payment using an NFC-enabled mobile phone, the card account and payment details are transmitted from the cloud to the NFC-enabled mobile phone and POS terminal, enabling the cardholder to complete the transaction in a fast, secure manner."
- Pentagon Federal Credit Union DocuSigns to Enhance Experience for More Than One Million Members - “At PenFed, giving our members the best possible customer experience is mission critical,” says Chris Martin, senior vice president of Service Center Operations at PenFed. “DocuSign gives our members convenience and peace of mind with the ability to do their banking easily – anywhere, anytime – while knowing their information is absolutely secure.”
Updates from Glenbrook:
- 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.
- 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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