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PayPal

Welcome to the News View for "PayPal".

Here, on these archive pages, you'll find all of the articles on Payments News for PayPal listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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January 22, 2014

A Graphical Look at PayPal's Performance

At Glenbrook, we've been following PayPal for a long time.  Each quarter, we take the latest financial results and add them to our database - and then produce a series of charts.  Following eBay's latest earnings release today, we did that again - and thought we'd share with you some of the charts that help illustrate PayPal's performance over time.

If you have questions or comments, please send them along to me: [email protected] or on Twitter: @sjl. READ MORE »

PayPal Grows Revenues 19% in Q4, Adds 5.2 MM Users - 4Q2013 Financial Results

PayPal logo 140x60pxPayPal's parent eBay has announced financial results for 4Q2013 which included strong growth numbers for its PayPal business unit.

PayPal delivered a strong fourth quarter performance with accelerating momentum in its merchant services business. Revenue increased 19% in both the quarter and the full year, resulting in $6.6 billion in 2013. PayPal gained 5.2 million active registered accounts in the quarter and ended the year with 143 million, a 16% increase.

PayPal's net total payment volume (TPV) grew 25% in the quarter with 3 billion transactions generating $180 billion in net TPV for the full year. On-eBay payment volume grew 14% in both the quarter and for the full year, producing $54 billion in net TPV for the year. Merchant Services net TPV increased 31% in the quarter and 29% for the full year, resulting in $125 billion in net TPV for the year.

Mobile was a key catalyst, with payments volume off eBay growing 128% for the year. Total mobile payment volume for the year was $27 billion.

eBay reports that PayPal's 'take rate" was 3.53%, down 3.72% in the same quarter last year. As compared to the prior quarter, PayPal's transaction expense declined to 0.97% while the loss rate increased slightly to 0.32%.

Separately, eBay announced that "it has received a notice from Carl Icahn indicating that he has nominated two of his employees to its Board of Directors and submitted a non-binding proposal for a spinoff of its PayPal business into a separate company. The notice stated that companies controlled by Mr. Icahn had, earlier this month, acquired shares and derivative securities that give him an economic interest of approximately 0.82% in the company."

eBay commented that "eBay's Board of Directors routinely assesses the company's strategic direction and has explored in depth a spinoff or separation of PayPal. eBay's Board of Directors has concluded that the company and its shareholders are best served by the current strategic direction of the company and does not believe that breaking up the company is the best way to maximize shareholder value."

Headline News from PaymentsNews.com - January 22, 2014

Next Glenbrook Payments Boot Camps: Feb 4-5 in Palo Alto, CA; March 18-19 in New York City. Alternatively, you can request a private Payments Workshop held on-site at your location.

On the Web:

  • The Value of PayPal and eBay Together - PayPal Forward Blog - "No other payments competitor has achieved PayPal’s success – because no other competitor has a commerce platform like eBay. PayPal is successful precisely because we are part of eBay Inc., not in spite of it."
  • Gang Rigged Pumps With Bluetooth Skimmers - Krebs on Security - "This blog has featured several stories about gas-pump skimmers that were Bluetooth enabled. What’s remarkable is how common these attacks have become."
  • A new way to pay: Dash rolls out more mobile payment tools at restaurants - Macworld - "If you have Dash installed on your phone, the Bluetooth-enabled Dashboard pushes you an alert when you walk into a venue where you can use the app to pay."
  • EBay Says Icahn Proposes PayPal Spinoff - Bloomberg - "The investor is proposing to spin off online payments unit PayPal, one of EBay’s faster-growing businesses."
  • LG Reveals Fingerprint ID Coming to their Smartphones this Year - "LG Electronics has revealed that they'll be integrating fingerprint recognition functionality into their premium smartphones ... later this year..."
  • Argentina restricts online shopping as foreign reserves drop - BBC - "Argentina has introduced new restrictions on online shopping as part of efforts to stop foreign currency reserves from falling any further."
  • Bitcoin Targets Payments Business of Giants Visa to JPMorgan - Bloomberg BusinessWeek - “Perhaps the rise of Bitcoin will put pressure on big banks to get us a more modern payment system,” said Jennifer Tescher, president of the Center for Financial Services Innovation, a Chicago-based research group.
  • Card-Theft Software Grew in Internet's Dark Alleys - Wall St. Journal - "The Reedum malware worked like a Trojan horse by hiding its malicious nature and compromising systems from inside."
  • Priorities for the future - Visa Europe (Nicolas Huss) - "As a membership organisation focused on European solutions for the best interests of all parties in our four‐party model, our continued success is good for the European economy because electronic payments fuel commerce, replace inefficient and expensive cash and fight the shadow economy."
  • Visa to step up marketing of V.me - Marketing Week (UK) - "Jonathan Vaux, V.me commercial director, says it will use “assets” such as its World Cup sponsorship to raise awareness of the service. Ads will push the convenience and security of V.me."
  • T-Mobile Hopes to Shake Up the Check-Cashing Industry, Too - Re/code.net - "Through the combination of a smartphone and a prepaid Visa debit card, T-Mobile (and its banking partner, Bancorp) aims to offer many of the services typically offered through a bank, including check cashing, direct deposit and bill pay."
  • T-Mobile wants to be your next bank The Verge - "T-Mobile's chief marketing officer Mike Sievert says the service could save the "typical household" using a check casher to cash their paychecks "about $1,500 per year.""
  • On the Matter of Why Bitcoin Matters - Medium (Glenn Fleishman) - "As a currency, I have little faith that it will become a replacement for dollars, euros, or renminbi. As a model for a future payment and transaction system, I believe it’s already shown its value."
  • B2B e-commerce gets its own publication - Internet Retailer - "B2Bec News, a weekly e-mail newsletter, will cover technology and strategies that manufacturers, wholesalers and distributors are using to sell online to businesses, government agencies and nonprofits, including universities and hospitals."

On the Wires:

Updates from Glenbrook:

January 17, 2014

Headline News from PaymentsNews.com - January 17, 2014

Next Glenbrook Payments Boot Camps: Feb 4-5 in Palo Alto, CA; March 18-19 in New York City. Alternatively, you can request a private Payments Workshop held on-site at your location.

On the Web:

On the Wires:

  • Retailers Urge Appeals Court to Make Federal Reserve Follow the Law - The Merchants Payments Coalition, a group of merchants fighting for a more competitive and transparent bank-card industry, said today: “Judge Leon struck a blow for fairness with his original ruling. We think the evidence will also prove as compelling to the appeals court. We look forward to that court reaffirming the Durbin Amendment as passed and sending the Federal Reserve back to the drawing board to ensure it actually follows the law.”
  • "NRF Asks Appeals Court to Uphold Order for Lower Swipe Fee Cap - "The National Retail Federation today asked an appeals court to uphold a judge’s ruling that the Federal Reserve set its cap on debit card swipe fees far higher than intended by Congress and that the cap needs to be recalculated at a lower level."
  • Retailers Comment On The Data Security Act - "PIN-and-chip cards are widely used across the globe, and it’s time for the bankcard industry in the United States to adopt that technology to better protect our consumers. We must transition away from 1960s technology and adopt a 21st century system that will help reduce and prevent fraud and protect customers from the threat posed by sophisticated cybercriminals, hackers and data thieves."
  • U.S. Bank Announces Plan to Wind Down Checking Account Advance - "U.S. Bank will begin to wind down its short-term, small-dollar deposit advance product, Checking Account Advance, to align with final regulatory guidance issued by the Office of Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC)."
  • FinCapDev 2014 Opens Call for Proposals - “Mobile technology has the potential to expand access to critical financial services and support, improving consumer financial health,” said Jennifer Tescher, President & CEO of the Center for Financial Services Innovation. “That’s what FinCapDev is all about: leveraging that potential and enabling innovators to build products for consumers who want and need better access to high-quality tools and information.”
  • Acculynk Gains Ground in Europe with Secure PIN-Based Authentication Patent Grant - "Acculynk, the first global PIN-debit authentication gateway, announced today that the European Patent Office granted Acculynk patent protection for the company’s propriety process for PIN based authentication over the Internet."

Updates from Glenbrook:

January 13, 2014

Headline News from PaymentsNews.com - January 13, 2014

We’d love to have you participate in our 2014 PaymentsNews Reader Survey! It’s quick and fast to complete: https://www.surveymonkey.com/s/393MCB3

Next Glenbrook Payments Boot Camps: Feb 4-5 in Palo Alto, CA; March 18-19 in New York City. Alternatively, you can request a private Payments Workshop held on-site at your location.

On the Web:

On the Wires:

Updates from Glenbrook:

January 02, 2014

Headline News from PaymentsNews.com - January 2, 2014

Next Glenbrook Payments Boot Camps: Feb 4-5 in Palo Alto, CA; March 18-19 in New York City. Alternatively, you can request a private Payments Workshop held on-site at your location.

On the Web:

On the Wires:

Updates from Glenbrook:

December 19, 2013

Headline News from PaymentsNews.com - December 19, 2013

Webinar: Managing Cardholder Data Security Risks in an Evolving Payments Landscape - Be sure to join Glenbrook's Bryan Derman, BakerHoestetler's Craig Hoffman and Mandiant's Marshall Heilman for this webinar on January 15 from 2-3:30 PM Eastern time. Registration is now open.

On the Web:

On the Wires:

Updates from Glenbrook:

December 13, 2013

Headline News from PaymentsNews.com - December 13, 2013

In addition to tracking the daily news of the payments world here on PaymentsNews.com, we can also provide you and your organization with monthly and quarterly market scans - contact me to learn more about this unique service customized to your special needs. For example, how are you thinking about the implications of Bitcoin and other virtual currencies on your business?

On Twitter:

On the Web:

On the Wires:

Updates from Glenbrook:

December 11, 2013

Headline News from PaymentsNews.com - December 11, 2013

On the web:

  • Evenly Joins Square - Square Engineering Blog - "Evenly’s app made it easy for anyone to send or collect payments from friends, anywhere, anytime."
  • PayPal Looks Ahead: Six Predictions for 2014 - PayPal Forward Blog (David Marcus) - "My job at PayPal gives me a unique opportunity to work with peers and strategize with partners across many industries about solving real problems and delivering exciting new experiences for consumers and retailers. That leads to a pretty privileged view into what’s coming next." PayPal Increases Mobile Investment as Smartphones Replace Cash - BusinessWeek - “It’s going to take years,” for mobile technology to become the main way to pay, Marcus said. “But we’re in it for the long run.”
  • Everything you need to know about the Volcker Rule - Guardian - "A rule to keep banks from gambling with their customers' money may finally be realised after years of resistance from Wall Street..."
  • First Mover Australians: Turning Mobile into Contactless Payments - MasterCard Blog - "To borrow a phrase from the CommBank blog, Australians can’t get enough of contactless payments. The country is the number one MasterCard PayPass market in the world..."
  • iBeacon Pioneers Estimote Raise $3.1M Seed Round - TechCrunch - “We are shipping thousands of beacons per week and more than 10,000 developers around the world are already experimenting with Estimote beacons in contextual computing applications.”
  • JPMorgan files patent for Bitcoin-style payment system - FT.com - "Like Bitcoin, JPMorgan’s proposed system would allow people to make anonymous, electronic payments over the internet..."
  • For Bitcoin, Square Peg Meets Round Hole Under the Law - New York Times - "The development of Bitcoin, the virtual currency that is not issued by any government, presents challenges for the authorities to use laws that were not designed for the digital world to combat illegal conduct."
  • Be Careful With Coin - New York Times - "Consider this as well: When you buy it, you are agreeing to terms of service that give you no protection."
  • A Medical Credit Card Has Surprising Costs - New York Times - "On Tuesday, the agency announced that it was ordering GE Capital Retail Bank and its CareCredit medical credit card unit to refund up to $34.1 million..."

On the wires:

Updates from Glenbrook:

December 10, 2013

Headline News from PaymentsNews.com - December 10, 2013

On the web:

On the wires:

Updates from Glenbrook:

December 05, 2013

Headline News from PaymentsNews.com - December 5, 2013

On the web:

On the wires:

Updates from Glenbrook:

December 03, 2013

Headline News from PaymentsNews.com - December 3, 2013

On Twitter:

On the web:

On the wires:

Updates from Glenbrook:

December 02, 2013

Headline News from PaymentsNews.com - December 2, 2013

On the web:

On the wires:

Updates from Glenbrook:

November 27, 2013

PayPal Now Accepts Prepaid Gift Cards

PayPal logo 140pxPayPal has announced that it now supports using prepaid gift cards through PayPal Checkout.

After months of research and investigations, we discovered a patent-pending and innovative way to allow the usage of prepaid gift cards so that you can seamlessly apply them to the purchase of products and services anywhere PayPal is accepted – just in time for the holidays!

PayPal notes that with the addition of prepaid gift card support: "As long as the merchants you are shopping with accept PayPal, you can be assured that you now have extra buying power on top of your existing debit, credit cards or banks."

November 19, 2013

Uber Now Accepts PayPal

PayPal logo 140pxUber has announced that it is now accepting PayPal to pay for rides in Germany, Italy, France, the Netherlands and the US. Uber users can now add PayPal as a payment option in the Uber mobile app. [Update: See PayPal's blog post]

TechCrunch reports that "To add your PayPal account you simply enter in your email/password or phone number and pin, and you’ll be logged in." Users won't need to login to PayPal each time.

Uber CEO Travis Kalanick told TechCrunch that "enabling PayPal was the simplest way to allow a universal payments method that is used across the globe by 140 million users."

PayPal CEO David Marcus told Bloomberg: "It’s important to be where disruption occurs. You want to partner with the companies creating an amazing consumer experience.”

November 18, 2013

Headline News from PaymentsNews.com - November 18, 2013

On the web:

On the wires:

Updates from Glenbrook:

November 07, 2013

Headline News from PaymentsNews.com - November 7, 2013

On the web:

  • Bitcoin: A Primer - Federal Reserve Bank of Chicago - "Bitcoin is a digital currency that was launched in 2009, and it has attracted much attention recently. This article reviews the mechanics of the currency and offers some thoughts on its characteristics."
  • Bitcoin isn’t so broken after all - Freedom to Tinker (Ed Felten) - "In short, a coalition of ES-miners cannot form and will not survive."
  • Square Exploring 2014 IPO With Banks - WSJ Digits - "Technology entrepreneur Jack Dorsey is trying to pull off two high-profile initial public offerings in the span of one year."
  • Minting Cash: how Square designed a product with no design at all - The Verge - "One of Dorsey’s most critical directives during the process was that users shouldn’t have to come up with new usernames and passwords, because in real life, you don’t need a password to hand some money to a friend."
  • Does anyone care about Square? - Financial Services Club Blog - "We will soon live in a world without payments. As retailers integrate more of the financial transaction into their trade processes, the more we live in a world where payments become increasingly irrelevant."
  • Is Bitcoin Broken? - Bitcoin Foundation - "...I believe the paper’s assertion of a fundamental flaw is based on some over-simplified assumptions about how the bitcoin mining market works."
  • The Bitcoin Bubble - TechCrunch - "Bitcoin can have ‘value’ based not on any sort of government backing or the like, but it can provide short-term utility to all holders if it has use."
  • Bitcoin Climbs to Record on Wider Acceptance, China Trade - "If James Bond, Sergey Brin and Paul Volcker all got together and designed their ideal currency, it might look a lot like Bitcoin..."
  • Jumio unveils faster and smarter Netswipe 2.0, cements its standing as the most secure mobile payment verification option - PandoDaily - "Today Jumio announced version 2.0 of its Netswipe platform, making payment card scanning significantly faster and adding the ability to read not only credit card numbers and expiration date, but also, for the first time, the cardholder’s name."
  • BTCJam: P2P Lending via Bitcoin - NetBanker - "Case in point: BTCJam , a global P2P lending outfit with founders in Brazil and San Francisco, that lends in Bitcoins."

On the wires:

Updates from Glenbrook:

  • Looking for consulting help from Glenbrook? Let us know your needs here - and we'll get right back to you!
  • Join Glenbrook's Carol Coye Benson and Scott Loftesness for our Glenbrook Payments Boot Camp on December 10-11th in Palo Alto, California!
  • Glenbrook's Jacqueline Chilton will be speaking social media and payments at the W.net Northern California LINC Networking event being held November 14 at Google.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

November 04, 2013

Headline News from PaymentsNews.com - November 4, 2013

On the web:

On the wires:

Updates from Glenbrook:

  • Looking for consulting help from Glenbrook? Let us know your needs here - and we'll get right back to you!
  • Join Glenbrook's Carol Coye Benson and Scott Loftesness for our Glenbrook Payments Boot Camp on December 10-11th in Palo Alto, California!
  • Glenbrook's Elizabeth McQuerry will be speaking on New Payments Regulation in Brazil at the International Money Transmitter Conference in Miami, Nov 4-7, 2013.
  • Glenbrook's Jacqueline Chilton will be speaking social media and payments at the W.net Northern California LINC Networking event being held November 14 at Google.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

October 30, 2013

PayPal Launches Startup Blueprint Program

PayPal logo 140pxPayPal has announced it is introducing a new Startup Blueprint program which waives fees for PayPal's payment processing up to $50,000 over 18 months along with providing "white glove, developer-focused customer service."

PayPal says that to be eligible for the program, "startups must focus on making mobile or web software or services, make less than $3 million USD in annual revenue or be less than five years old. Companies must be nominated by PayPal, or one of the accelerators or incubators enrolled in the Startup Blueprint program. We will be opening it up soon for other startups that want to apply."

More details on PayPal's Startup Blueprint program can be found here.

October 28, 2013

How Should Industries Like Payments Be Regulated in the 21st Century?

PayPal logo 140x60pxOn the PayPal Forward blog. Brian Bieron, Executive Director, Global Public Policy, for eBay posts an article about payments regulation in the 21st century - saying that

PayPal is stepping forward to meet this challenge by beginning a collaborative discussion about how increasingly ubiquitous 21st Century technology and data-analytics techniques used by technology-enabled organizations can be used by government regulators to make better and faster decisions to help deliver better results."

Along with the blog post, Bieron also links to three reports - one for Asia/Pacific, one for the EU and one for the US - each addressing payments regulation and suggesting a new approach to regulation that "will enable regulators to better achieve their goals, benefit consumers, and allow for a faster pace of business innovation."

For example, in the policy paper for the US, PayPal writes: "The regulatory landscape is frozen in an outmoded model for decision-making that is decades behind the times. New ideas and fresh thinking are required to thaw the ice." PayPal goes on to propose a new "Smart Governance Cycle" - detailed a multi-step cycle based on big data and careful analytics. The paper is a fascinating look at a whole new approach to understanding and adapting regulation to market forces while encouraging innovation in payments.

October 23, 2013

PayPal and Blackhawk Network to Bring Gift Cards to the Digital Wallet

PayPal logo 140x60pxPayPal and Blackhawk Network have announced they are working together to enhance the gift card experience in general by bringing gift card services to the digital wallet.

According to the companies, "this collaboration will provide an easy way for consumers to both purchase gift cards and use them right from within the PayPal app – beginning in the first half of 2014. Consumers will also be able to reload gift cards from the app, check balances and, of course, be able to keep all of their gift cards in one handy place.:

Headline News from PaymentsNews.com - October 23, 2013

On the web:

  • eBay's turnaround hits a speed bump - Fortune - "eBay recently responded to rising competition in online payments by paying $800 million for Braintree, an online payments processing company..."
  • Bitcoin Poses a Challenge for Law Enforcement - Wall St. Journal - "The rise of Bitcoin, the little-regulated digital currency, is challenging law enforcement's ability to keep tabs on the criminal underworld."

On the wires:

Updates from Glenbrook:

  • Looking for consulting help from Glenbrook? Let us know your needs here - and we'll get right back to you!
  • Join Glenbrook's Carol Coye Benson and Scott Loftesness for our Glenbrook Payments Boot Camp on December 10-11th in Palo Alto, California!
  • Glenbrook's Elizabeth McQuerry will be speaking on New Payments Regulation in Brazil at the International Money Transmitter Conference in Miami Nov 4-7, 2013.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

October 17, 2013

Headline News from PaymentsNews.com - October 17, 2013

On the web:

On the wires:

Updates from Glenbrook:

  • Looking for consulting help from Glenbrook? Let us know your needs here - and we'll get right back to you!
  • Join us for our Glenbrook Payments Boot Camp on October 23rd/24th in New York City!
  • Glenbrook's Elizabeth McQuerry will be speaking at this year's NACHA Global Payments Forum on October 17-18 in New York City. She'll be speaking on the topic "Mobile Payments, Interoperability & Faster Funds Transfer". Elizabeth will also be speaking on New Payments Regulation in Brazil at the International Money Transmitter Conference in Miami 4-7, 2013.
  • Glenbrook's Carol Coye Benson will be speaking at this year's American Bankers Association Annual Convention on October 20-22 in New Orleans. She'll be participating in a panel discussion on The Future of the Payments Industry.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

October 16, 2013

PayPal Grows Revenues 19%, Adds 5 Million Registered Users - 3Q2013 Financial Results

PayPal logo 140pxPayPal's parent eBay has announced financial results for 3Q2013 which included strong growth numbers for its PayPal business unit.

PayPal delivered a strong third quarter performance with revenue increasing 19% to $1.6 billion. PayPal gained 5.0 million active registered accounts and ended the quarter with 137 million, a 17% increase. PayPal's net total payment volume (TPV) grew 25% to $44 billion driven by consumer and merchant use of PayPal both on and off eBay. Merchant Services net TPV increased 30% with a sequential acceleration of payment volume.
eBay reports that PayPal's 'take rate" was 3.70%, down from 3.89% in the same quarter last year. As compared to the prior quarter, PayPal's ransaction expense increased slightly to 1.05% while the loss rate declined slightly to 0.30%.

October 14, 2013

Revel Systems Adds PayPal Acceptance to iPad POS Solutions

Revel systems logo 140x60pxSan Francisco-based Revel Systems has announced they will offer PayPal's mobile payment capabilities as an integrated service within the Revel iPad POS solution.

"The Revel Systems and PayPal relationship will be very impactful for the point-of-sale industry as a whole," said Lisa Falzone, CEO of Revel Systems.

"PayPal is leading the trend of digital secure payments on the consumer level, and Revel is leading the way for the next generation of mPOS, creating a collaboration that is set to deliver a new experience to customers. For years people have been using PayPal to shop online, and the integration with Revel now brings the same convenience and security to brick and mortar retail and food establishments allowing consumers to pay on the go."

Revel says that its integration with PayPal "is part of a new wave in the POS industry evolution with a mobile commerce offering directly integrated with a major POS platform for quick and easy mobile ordering and payments. PayPal's mobile app – available for iOS and Android – is now directly connected with Revel Systems, allowing users to order ahead at any establishment using Revel's iPad POS solution."


Headline News from PaymentsNews.com - October 13, 2013

On Twitter:

On the web:

  • Venmo's Social, Increasingly Hilarious Payments Community - Fast Company - "The shared payment notes give insight into what your friends are up to; they're also often amusing to read."
  • Xerox Glitch Halts Food-Stamp Use - Wall St. Journal - "Shoppers in 17 states were unable to use food stamps and other government aid through debit-style electronic benefits cards for more than 10 hours on Saturday..."
  • Why did we create Wisely? - Wisely Blog - "At Wisely, we’re building the most credible search engine for the physical world, powered by payment data. Why is it the most credible? Because, Wisely brings transparency to how people spend money."
  • Mobile Payments - Two Major Systems Set To Go In The US - Forbes - "Merchants want a system that is secure, won’t steal their data, provides a good marketing platform and the lowest possible cost for transaction. Consumers want something that is secure and simple to use."
  • Not Ready to Adopt Mobile Payments? You're Not Alone - BusinessNewsDaily - "The technology to accept payments via mobile devices is ripe and ready, but a recent industry study shows that it will take at least two more years for mobile payments to truly become mainstream."
  • The Rise of PayPal as a Major Payments Player - Bank Marketing Strategy - "While some of the 'innovation' at PayPal may not seem new or disruptive (such as the use of QR codes), the ability to quickly build scale by using the existing payments infrastructure may be the key to PayPal's success."
  • Small Business Success with PayPal: ChinaTour.Net - PayPal Forward Blog - "...PayPal has helped the ChinaTour.Net online air ticket business avoid an 85% risk of malicious fraud..."
  • Stuck in a Dispute Between PayPal and Itself - New York Times (David Segal) - "If PayPal isn’t the most reviled online company in the country, which is?"
  • Mint Wireless to launch local version of US payments start-up Square - Financial Review (Australia) - "But where Square has built its own user base by selling direct to businesses, Mr Teoh told The Australian Financial Review that Australia’s heavy regulations and existing market structure required them to work through the banks and telcos."
  • Divide and Conquer: Commerce Battlefield - FinVentures (Tom Noyes) - "Banks are NOT the center of commerce, just as my ISP or MNO is not the reason I shop at Amazon."
  • Unbreakable encryption comes to the U.S. - CNNMoney - "As revelations about the depth and breadth of the NSA's digital eavesdropping program continue to come to light, Ohio-based Battelle Memorial Institute is rolling out a new kind of network encryption designed to be virtually un-hackable -- not only now, but in the future."
  • Leading Economist Predicts a Bitcoin Backlash - Mashable - "Simon Johnson, a professor of entrepreneurship at MIT’s Sloan School of Management, expects Bitcoin to face political pressure and aggressive lobbying from big banks because of its disruptive nature."
  • Privacy and fraud dominate discussion at LA bitcoin event - CoinDesk - "All in all, the event signified the fact that bitcoin is growing and that LA area technology enthusiasts are ready to do business with BTC."

On the wires:

Updates from Glenbrook:

October 09, 2013

Headline News from PaymentsNews.com - October 9, 2013

On the web:

On the wires:

Updates from Glenbrook:

  • Looking for consulting help from Glenbrook? Let us know your needs here - and we'll get right back to you!
  • Join us for our new series of Glenbrook Payments Boot Camps October 23rd/24th in New York City!
  • Glenbrook's Allen Weinberg and Erin McCune will be at Money2020 in Las Vegas October 6-10 - please reach out to them directly to catch up in person or set up a briefing at the conference. Erin will be moderating an Invoicing, Billing & Collections panel with Bill.com CEO Rene Lacerte, Billtrust CEO Flint Lane and Billhighway Chairman Vince Thomas.
  • Glenbrook's Elizabeth McQuerry will be speaking at this year's NACHA Global Payments Forum on October 17-18 in New York City. She'll be speaking on the topic "Mobile Payments, Interoperability & Faster Funds Transfer".
  • Glenbrook's Carol Coye Benson will be speaking at this year's American Bankers Association Annual Convention on October 20-22 in New Orleans. She'll be participating in a panel discussion on The Future of the Payments Industry.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

October 08, 2013

PayPal Introduces Payment Code for POS Purchasing

PayPal logo 140x60pxIn a blog post this morning, PayPal's Don Kingsborough, VP of Retail Services, introduced "payment code" - calling it "yet another innovation that’s part of our payments roadmap."

"This new technology will enable you to make purchases by scanning a QR code on your mobile phone, or receive a short four-digit code on your phone, to complete a purchase," said Kingsborough.

"Payment code is an extension of our offerings for enhancing the payments experience in-store. Our approach isn’t to push technology for technology’s sake, but to truly make the paying experience better for consumers and to give merchants more opportunity to innovate without a costly investment. Payment code is easy to use and understand and utilizes a ubiquitous technology that merchants have and are familiar with."

Here's how PayPal says it works:

When you’re ready to pay, simply open the PayPal app (or the specific merchant’s app.) and check in. Once you’re checked-in at that location, the app prompts you with a QR code, or a four-digit short code, to authenticate your purchase.

If the merchant has a barcode or QR code scanner, the merchant scans and, just like that, you have paid. If the merchant doesn’t then a four-digit code pops up on your phone, you (or the merchant) simply punch that code into the PIN pad at checkout. Boom, done!

PayPal says that the real benefit of payment code isn't convenience - existing payment methods work for payment - but that PayPal with payment code "will allow consumers to automatically redeem any special offers, gift cards, merchant rewards programs or other forms of payment that might be saved in their PayPal wallet in one quick transaction."

On the merchant side, PayPal says they "want to get the benefits of these new ways to pay but they don’t want to rip out their existing technology to do it." PayPal says it will also be working with merchants who have their own mobile apps to integrate PayPal QR codes into the merchant's own app.

Kingsborough said that PayPal will roll out payment code globally in the first quarter of 2014 and will provide more details at that time.

Yesterday, PayPal published a new white paper titled "The Future of POS: Point of Sale Evolution and its Impacts". In a blog post announcing the paper's availability, Scott Ellison noted that "the industry is poised to undergo a profound transformation in the next several years because of new key drivers, which include the mobile phone, cloud technology, sensors and the proliferation of tablets entering the market."

Headline News from PaymentsNews.com - October 8, 2013

On Twitter:

On the web:

On the wires:

Updates from Glenbrook:

  • Looking for consulting help from Glenbrook? Let us know your needs here - and we'll get right back to you!
  • Join us for our new series of Glenbrook Payments Boot Camps coming this month - 8th/9th in the San Francisco Bay Area and 23rd/24th in New York City!
  • Glenbrook's Allen Weinberg and Erin McCune will be at Money2020 in Las Vegas October 6-10 - please reach out to them directly to catch up in person or set up a briefing at the conference. Erin will be moderating an Invoicing, Billing & Collections panel with Bill.com CEO Rene Lacerte, Billtrust CEO Flint Lane and Billhighway Chairman Vince Thomas.
  • Glenbrook's Elizabeth McQuerry will be speaking at this year's NACHA Global Payments Forum on October 17-18 in New York City. She'll be speaking on the topic "Mobile Payments, Interoperability & Faster Funds Transfer".
  • Glenbrook's Carol Coye Benson will be speaking at this year's American Bankers Association Annual Convention on October 20-22 in New Orleans. She'll be participating in a panel discussion on The Future of the Payments Industry.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

October 07, 2013

Headline News from PaymentsNews.com - October 7, 2013

On Twitter:

On the web:

  • In Las Vegas, Alternative Currency Buffs Are Making The Case That Bitcoin WIll Do To Money What The Web Did To Information - "Bitcoin today is in a similar state that the Internet was in 1992. It's functional and useful, but the great use cases are only just now happening. It's only going to get better and better."
  • India’s audacious plan to bring mobile payments to the masses: pair them with a national ID card - Quartz - "Nandan Nilekani, a founder of Infosys and the man in charge of the Aadhar scheme, suggested last week that the platform the cards run on will be extended to include peer-to-peer money transfers."
  • Ripple Takes on Western Union With Deal to Grow Payments - Bloomberg - "Ripple, a San Francisco-based startup, operates payments software and a digital currency that resides in a consumer’s account known as a Ripple Wallet. Under the agreement, Ripple will let consumers link those Wallets to ZipZap accounts."
  • Apple's Mobile Commerce Mojo - Pymnts.com (Karen Webster) - "Well, we don’t think they’re right and the little slide deck that is attached gives you 7 reasons why Apple is the last company on earth that should be written off as a loser in mobile commerce."
  • Fraud Happens. So What Do You Do? - Portals and Rails Blog (Douglas King) - "The important takeaway I got from this report is that no matter the technology or standard used on payment cards, it remains critical to keep personally identifiable information protected and to continue to educate consumers about sound payment practices."
  • The Evolution of Electronic Payments - "This infographic created by SwitchPay, a mobile payments company, visually represents the evolution of electronic payment technology from the first mention of the credit card in a novel published in 1887, the birth of ecommerce from the first online purchase, to the advancement of mobile payment technology."

On the wires:

Updates from Glenbrook:

  • Looking for consulting help from Glenbrook? Let us know your needs here - and we'll get right back to you!
  • Join us for our new series of Glenbrook Payments Boot Camps coming this month - 8th/9th in the San Francisco Bay Area and 23rd/24th in New York City!
  • Glenbrook's Allen Weinberg and Erin McCune will be at Money2020 in Las Vegas October 6-10 - please reach out to them directly to catch up in person or set up a briefing at the conference. Erin will be moderating an Invoicing, Billing & Collections panel with Bill.com CEO Rene Lacerte, Billtrust CEO Flint Lane and Billhighway Chairman Vince Thomas.
  • Glenbrook's Elizabeth McQuerry will be speaking at this year's NACHA Global Payments Forum on October 17-18 in New York City. She'll be speaking on the topic "Mobile Payments, Interoperability & Faster Funds Transfer".
  • Glenbrook's Carol Coye Benson will be speaking at this year's American Bankers Association Annual Convention on October 20-22 in New Orleans. She'll be participating in a panel discussion on The Future of the Payments Industry.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

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