On the Web:
- Xapo Raises $20 Million Investment, Led by Greylock Partners and Index Ventures - XAPO Blog - "This round of funding was led by Greylock Partners and Index Ventures, with additional investments by Emergence Capital Partners, Max Levchin, co-founder of PayPal, Internet investor Yuri Milner, and Jerry Yang, founding partner of AME Cloud Ventures and co-founder of Yahoo!."
- PayPal Makes Next-Day Settlement a Reality - PayPal Forward Blog - "Starting this month, we introduced Next-Day Settlement (NDS) for eligible businesses in the United States through a pilot program. With Next-Day Settlement, eligible businesses transferring money from their PayPal account to their bank account now have the ability to receive their money within 24 business hours instead of the three to four business days it used to take."
- AmEx Antitrust Trial Gets Under Way - Wall St. Journal - "Under a previous agreement with the Justice Department, Visa and MasterCard agreed to allow merchants to offer discounts, rebates and other incentives to get customers to use cards with lower merchant fees."
- Why the Payment Card System Works the Way It Does – and Why Bitcoin Isn’t Going to Replace It Any Time Soon - Richard Gendal Brown - "Regular readers will know that I am extremely optimistic about the long-term potential of Bitcoin and cryptocurrency technology to revolutionise the financial system. But that doesn’t mean I think they will overturn all aspects of the system."
- Monitise downgrades forecasts for second time this year - The Telegraph - "Monitise said that annual revenues grew by between 31pc and 33pc in the year to the end of June, having previously said they would increase by 40pc."
- Apple Granted a Patent for a Secure Enclave Processor - Patently Apple - "A secure enclave processor could also be used to secure financial transactions and financial management."
On the Wires:
- Opus Global Announces Acquisition of Hiperos - "Hiperos is a recognized global leader in third party management connecting over 300,000 third parties to many of the world’s largest companies across a range of industry verticals including energy, financial services, food, real estate, pharmaceuticals, and technology. Hiperos provides rapidly deployable, highly flexible SaaS-based solutions for a broad range of information management, risk, compliance and performance needs for many of the world’s Global 2000 companies..."
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.
- Feedback: How are we doing for you? I'd love to hear from you - drop me a quick note: firstname.lastname@example.org or leave me a voicemail: +1.650.469.3421.
- Got news? Please forward press releases to: email@example.com.
- Need consulting help from Glenbrook for one of your payments projects? Let us know your needs here - and we'll get right back to you!
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