On the Web:
- Can Apple Solve Riddle of Mobile Payments With Apple Pay Service? - Wall St. Journal - "Apple also may have found a new revenue stream in rolling out the payments service. The card-issuing banks have agreed to pay a per-transaction fee to Apple to be included on the phone, according to people familiar with the situation."
- The Pros and Cons of Avoiding Credit Cards - New York Times - “For me,” she said, “credit cards feel like borrowed money.”
- MasterCard Digital Enablement Service (MDES): Making Digital Payments Happen - MasterCard Cashless Pioneers Blog - "MDES validates the transaction, maps from the token back to the PAN and forwards it to the issuer for authorization."
- Here’s why ApplePay will shake up consumer payments, even if it gets lost amid the iDevice frenzy - "The two big questions walking away from this announcement are, what impact will ApplePay have on payments competitors like PayPal, Stripe, and Square? And, secondly, what impact will ApplePay have on Apple’s bottom line?"
- Braintree Support for Apple Pay - Braintree Blog - "Braintree is here to help you support Apple Pay in addition to the other global payment experiences you need for your business to thrive on iOS, Android, and the web."
- Softcard Working on Apple Pay Solution with Apple - Isis/Softcard Blog - "We would like to let you know that we are actively working with Apple to enable Softcard on the iPhone in 2015 — using an integrated secure SIM-based hardware solution."
- Enable Universal Acceptance of Mobile Money Payments - "We are seeking novel solutions that promote adoption and use of mobile payments by smaller merchants (such as local sellers of goods), service providers (such as local schools and health clinics), and other members of the ecosystem serving the poor."
- Coinbase Responds To New York’s Recently Proposed BitLicense - Coinbase Blog - "While we applaud the NYDFS for being forward thinking on virtual currencies, we feel the proposed BitLicense falls short of its stated goal of balancing customer protection and rooting out illegal activity while encouraging innovation."
On the Wires:
- Bank for International Settlements: Non-banks in retail payments - "In a report published today by the Committee on Payments and Market Infrastructures (CPMI), central bankers examine the role of non-banks in retail payment services and analyse the implications of the growing importance of these entities in retail payments. The report, Non-banks in retail payments, is based on several fact-finding exercises that were conducted to support the analysis..."
- Fiserv Financial Institution Clients Can Keep their Cards at the Top of the Mobile Wallet with New Tokenization Capabilities - “Fiserv is equipping our clients to meet growing consumer demand for payments from their mobile device, whether they are paying a bill, paying another person or making a purchase. Our partnerships with Visa and MasterCard to support tokenization, and our planned support of tokenization through our own Accel network, are part of our overall commitment to bringing secure and simple digital payment solutions to our clients and their customers.”
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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