On the Web
- Merchant App Stores Today - PaymentsViews.com (Allen Weinberg) - "I remain quite enthusiastic about these new POS systems in general, and love the idea and the progress, albeit a bit slow, of the merchant app stores."
- Starbucks Replaces Square with J.P. Morgan as New Payments Processor - Re/code.net - "Starbucks will rely on J.P. Morgan Chase to handle some of its payments processing, replacing Square, which lost money on the deal."
- Former Google exec raises $28M to start shipping his smart payment terminals - VentureBeat - "Today, the company is announcing a series B round of $28 million to help it build and ship terminals before the year is out. Growth equity fund Oak HC/FT led the round. Stanford-StartX Fund, Matrix Partners, Webb Investment Network, and Nyca Partners also contributed."
- American Express Invests In Bitcoin Venture, Abra, Which Announces U.S., Philippines Launch - Forbes - "In a world where bank transfers take two to three days and even seemingly immediate payment apps like Venmo actually aren’t, Bitcoin technology makes it possible to transfer money instantaneously and securely from person to person."
- Venmo Five Years Ago - Medium (Matt Newborn) - "I was lucky to capture the rawness of Venmo over five years ago when my tech club at Penn’s campus hosted a product demo with founder Iqram and early team member Shreyans. There’s so much I love about looking at Venmo back thencompared to where it is now, because I think it exemplifies what ends up being important in the long run and what doesn’t."
- Banks Facing Tough Times Pull Out Visa...Shares - Wall St. Journal - "U.S. banks facing charges or losses this earnings season have been able to dip into a multibillion-dollar piggy bank—shares they hold in Visa Inc.— to offset the damage."
- Exclusive: How First Data reinvented itself to become 2015's biggest IPO - Fortune - "The key to the transition, Bisignano said, was in his pocket. He held up his iPhone and declared, “First Data can be to merchants what this device is to millions.”"
- Why Starbucks’ Order And Pay Is More Than Milk Froth - TechCrunch - "The multi-tasking time-poor consumer demands a shorter, more useful mobile experience. If time is the first principle of designing for context, then utility is the second."
- Bitcoin currency exchange not liable for VAT taxes: top EU court - Reuters - "The court ruled that bitcoins should be treated as a means of payment, and as such were protected under the directive."
- New Blockchain Alliance Seeks to Ferret Out Bad Guys, Bolster Bitcoin’s Image - Wall St. Journal - "A group of civic-minded bitcoiners is trying to change that through a new partnership with law enforcement in the U.S. It might just help catch bad guys, too. The group is called the Blockchain Alliance, and it was created by Coin Center and the Digital Chamber of Commerce, two bitcoin trade groups based in Washington, D.C."
- MasterCard tries out 'selfie pay' for online purchases - USA Today - "MasterCard is trying out a new technology that lets online shoppers authorize a transaction with a snapshot of their face instead of a password."
On the Wires
- Introducing Verifone Engage, the Future of Connected Payment Devices - "Verifone Engage is the company’s first-ever, fully-integrated, Linux-based product family, encompassing a complete range of payment solutions for merchants, acquirers, and service providers. It is the result of a new strategy at Verifone to bring unique value to the POS and the consumer experience with intuitive, connected and commerce-enabled solutions."
- Poynt Announces $28 Million in Funding As It Prepares to Ship the World's First Smart Terminal - “Poynt is one of those rare companies that is aligned with the interests and needs of all parties in its ecosystem; it solves multiple merchant, bank, developer, and consumer problems with stellar technology and design, and it benefits from impeccable timing. What Poynt has been able to accomplish, building both hardware and software in the notoriously challenging payments space, is simply incredible.”
Glenbrook's 2015 Payments Education
- Our next Payments Boot Camp session is scheduled for New York City on October 20-21 followed by a one-day Insight Workshop on October 22 on the topic of Virtual Currencies and Bitcoin.
- 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!