I once said I did not intend to Tweet. As you can tell from reading this, I changed my mind.— Barney Frank (@BarneyFrank) July 30, 2013
On the web:
- Flush with $20M from Peter Thiel, ZestFinance is measuring credit risk through non-traditional big data - "We think that we have found a better way to get a complete picture on credit applicants. In 10 to 15 years, we expect this to be the only way credit is issued."
- Chirpify, A Service That Lets You Shop By Replying “Buy” On Social Media, Raises $6M Series A - TechCrunch - "Like the others in its space, the startup generates revenue through a percentage of the transaction (5 percent) plus a pre-transaction fee ($0.30)."
- The Power Behind the Throne at the Federal Reserve - New York Times Dealbook - "So now we turn to the man they call the “eighth governor,” the general counsel of the Federal Reserve, Scott G. Alvarez."
- Fed’s Debit-Card Swipe-Fee Rules Rejected by U.S. Judge - Bloomberg - "The Federal Reserve disregarded Congress’s intent when deciding how much banks can charge merchants for debit-card transactions, a judge ruled, rejecting Dodd-Frank-imposed regulations governing “swipe” fees."
- Starbucks Teams up with Google to Bring Next-Generation Wi-Fi Experience to Customers - "Starbucks today announced the selection of Google to provide the next generation of its Wi-Fi offering for its customers."
- ISIS National Launch - FinVentures - Tom Noyes - "My informed view is that MNOs are 2 years late to this game, have lost the opportunity, and may actually suffer significant negative consequences from this launch."
- Isis to finally bring its NFC mobile payments nationwide later this year - VentureBeat Mobile - "I still have my doubts about the future of NFC-based mobile payments, especially as simpler options like Square and PayPal make inroads in local businesses."
- For Mainstream Adoption, Mobile Payments Require Consumer Trust - and a Compelling Experience - Fiserv's The Point (Ginger Schmeltzer) - "As an industry, we should continue to promote that same level of innovation and collaboration to transform the experience for consumers and merchants at the point-of-sale."
- How to Protect a Prepaid Card - TMG Blog - "Do your customers know what to do if they lose their prepaid card? Are they aware of the differences in protections under the law for a prepaid card versus a credit card?"
- EMV from a Payment Processor's Perspective - TSYS
- OpenTable Begins Testing Mobile Payments - New York Times - "At the end of a meal, the diner would open the OpenTable app and pay the check with the tap of a button. The diner can review the check, adjust the tip and finish the payment."
- With 1.5M Users In Total, Wave Begins Mobile Payments Beta Via iOS App For Its Free Accounting Software - TechCrunch - "The mobile expansion follows the introduction of direct payments on Wave’s web-based accounting tool, and both are powered by partner Stripe."
- Microsoft Invents Fingerprint ID for the Stylus & More - Patent Bolt
On the wires:
- NRF Applauds Decision on Swipe Fees - "Congress clearly told the Fed to introduce competition and transparency into the debit card marketplace by making multiple networks available, so as to reduce swipe fees for merchants and their customers. The Fed failed to do so, and the court rightly ruled against them as a result. Today’s decision is the first step in setting these initial wrongs right and will ensure that swipe fee reform is done correctly."
- MasterCard Incorporated Reports Second-Quarter 2013 Financial Results - "The company reported net income of $848 million, up 19%, and earnings per diluted share of $6.96, up 23%..."
- Paynet partners with MasterCard to drive local migration to EMV cards (Kenya) - "Dubbed “The Great Migration to EMV Chip,” the local initiative brings together various stakeholders in Kenya’s banking and payments technology sectors in an effort to hasten the switch to EMV cards."
- Heartland Payment Systems Reports Record Quarterly Earnings - "Record earnings in the second quarter clearly demonstrate that our strategy to productively grow our sales organization, selectively enhance our core transaction processing capability, and add complementary non-card products to our portfolio is generating double-digit growth in net revenue and operating income."
- Payoneer and Fiverr Partner to Offer Expanded Payment Options Online - "Payoneer ... has partnered with Fiverr to deliver payments to 1.6+ million active Fiverr sellers and buyers around the globe."
- Javelin Identifies $1.5 B in Mobile Banking Cost Savings by Leveraging Omnichannel Approach - "Mobile bankers are valuable bank customers; rich, young, and flush with profitable bank products and services. And the service is saving institutions money; as the number of mobile bankers has grown, branch visitation has decreased considerably..."
- ANZ Extends Mobile Financial Services to Unbanked and Underbanked Consumers with Mobiliti Reach from Fiserv - "The bank, which has offered Fiserv-supported mobile financial services to its customers since 2006, is now providing mobile financial services to unbanked and underbanked consumers in Samoa, Vanuatu, Solomon Islands and Papua New Guinea."
Updates from Glenbrook:
- Be sure to take our new Payments and Bitcoin survey asking what you think about Bitcoin in particular and math-based currencies in general!
- Glenbrook's Payments Boot Camp! - A special summer session of our popular Payments Boot Camp - in Half Moon Bay on August 6th and 7th is ALMOST SOLD OUT! We're also leading a half day course on Data In Payments - August 8th, also in Half Moon Bay. Join Carol, Scott and Russ for lively, interactive sessions - register now!
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