On the Web:
- Bank of America Files Patent for Cryptocurrency Wire Transfer System - CoinDesk - "The patent, filed on 17th March, 2014, and published 17th September, seeks to protect a system by which electronic funds could be sent between customer accounts using the underlying blockchain of a given cryptocurrency as the rails for payment."
- First Data Buys Spree Commerce To Move Into Open Source Payments Technology - TechCrunch - "Prior to this, Spree had raised $6.5 million from investors that include AOL (parent of TechCrunch), Thrive, True Ventures, Vegas Tech Fund and others."
- Inside Target Corp., Days After 2013 Breach - Krebs on Security - "The results of that confidential investigation — until now never publicly revealed — confirm what pundits have long suspected: Once inside Target’s network, there was nothing to stop attackers from gaining direct and complete access to every single cash register in every Target store."
- Visa shelves mobile payment venture in India - Times of India - "The company Movida India, the joint venture that Visa had formed five years ago in partnership with Monitise Plc UK, has shut shop and Naushad Contractor, head of the 50:50 JV, has quit, three persons aware of the development told ET."
On the Wires:
- Costco Extends Partnership with Elavon; Enhances Payment Processing Offerings to Business Customers - Guy Harris, Elavon’s North America president stated, “The renewal of this relationship is a natural fit. Costco’s steadfast focus on creating quality solutions for its members and Elavon’s commitment to premier customer service will continue to provide tangible benefits for members, including saving the average member hundreds of dollars annually.”
- New ACI Worldwide Survey: 6 out 10 U.S. Consumers with Credit Cards are Not Ready for EMV - “The survey data validates the trends we have seen over the past year; with less than a month to go until the EMV liability shift, a staggering number of consumers are neither educated on nor aware of EMV; they don’t know why they have new chip-enabled cards,” said Mike Braatz, senior vice president, Payments Risk Management, ACI Worldwide. “And if consumers are unaware, the implications for retailers come October and throughout the holiday shopping season could be major, especially as retailers prepare for this new payment experience."
- Card1 Debuts Universal Card Technology Connecting Conventional Payment Card to Digital Wallet Platform - "The Card1 card is a conventional, plastic payment card and requires no power or charging to use. The Card1 companion mobile wallet app enables consumers to easily add payment cards to enabled digital wallets using a mobile phone camera and secure payments made with a Card1 card."
- ShopKeep Acquires Ambur POS - "Ambur provides an excellent point of sale app that was created by a restaurant owner, for restaurant owners.” said Norm Merritt, ShopKeep’s President and CEO. “This acquisition allows ShopKeep to further our reach into the restaurant industry and expand our overall market share amongst independent merchants.”
- Jeff Jones Named President of U.S. Bank Corporate Payment Systems - “Jeff’s management acumen, demonstrated over many years at the bank, makes him the ideal choice to take the reins of our corporate payments business and position it for robust growth,” said U.S. Bank Vice Chairman for Payment Services Shailesh Kotwal.
Glenbrook's 2015 Payments Education
- Our next Payments Boot Camp session is scheduled for October 13-14 in Palo Alto, California followed by a one-day Insight Workshop on October 15 on the topic of Global Payments.
- If you have questions about our payments education program, please contact Russ Jones for more information.
Updates from Glenbrook:
- Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews
Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: firstname.lastname@example.org!