On the Web:
- PayPal Is Quietly Killing Off A Confusing Way To Pay In Stores - ReadWrite - "PayPal has stopped promoting its Payment Card to consumers and erased most references to it from its website..."
- The Target Breach, By the Numbers - Krebs on Security - "$55 million – The number of dollars outgoing CEO Gregg Steinhafel stands to reap in executive compensation and other benefits on his departure as Target’s chief executive."
- Putin Passes Law Requiring $3.8Bln Security Payments From Visa, MasterCard - Moscow Times - "Foreign payment systems will be forbidden by the law to unilaterally cut services to Russian clients and require them to base their processing center in Russia."
- Why fewer people want credit cards - Bankrate.com Credit Cards Blog - "According to a recent Gallup poll, 29 percent of Americans do not own any credit cards, up from 22 percent in 2008."
- Don’t Trust Bitcoin Startups That Centralize Everything - TechCrunch - "Trading on centralized exchanges should remain a hobby, and you should be aware of the risks."
On the Wires:
- Chase Unveils New Mobile Dashboard That Gives Merchants an On-The-Go Snapshot of Their Payment Activity - “We are continually looking for ways to help merchants grow their business, and Mobile Dashboard enables merchants to securely manage their business while on the road,” said Dan Charron, president of Chase Paymentech.
- StartPath Connects MasterCard to Entrepreneurs, Startup Community - "MasterCard can play a key role in helping these startups scale effectively so that ultimately, everyone benefits. Today, we announced that we’re opening an accelerator program in Europe , led by MasterCard Labs), to help startups achieve scale."
- Wells Fargo and American Express Launch Two New Credit Cards with Rich Rewards and Benefits - “Last year, we announced our partnership with American Express as part of our goal to earn more of our customers’ credit card business and help them succeed financially through distinctive and compelling offerings,” said Avid Modjtabai, head of Wells Fargo’s Consumer Lending Group. “The culmination of this partnership is Propel 365 and Propel World – two new credit cards that offer upgraded travel experiences, accelerated rewards on travel and every day purchases and powerful bonuses for Wells Fargo relationships. We are excited to partner with American Express, a company that shares our history and commitment to delight customers in every interaction.”
- Shell Oil Company Selects NCR as Consumer Transaction Technologies Provider Option for Its U.S. Retail Operations - “We can now offer Shell branded wholesalers the RPOS solution, allowing them to add mobile, tablet, cloud, and food service solutions that can dramatically reduce wait times, increase customer satisfaction and increase efficiency of operations. NCR looks forward to helping Shell create an improved customer experience – one that separates their service from competitors.”
- CardLinx™ Task Force, Chaired by Linkable Networks, Releases New Standard for Card-Linked Advertiser Insertion Order - “We’re looking forward to seeing the positive impact of the Boar Standard on the card linked industry,” said Tom Burgess, CEO of Linkable Networks. “It simplifies the process through which companies can share their offers and makes it easier for consumers to link their information to payment cards and payment credentials.”
- Sarah McCrary Appointed CEO of Leaf - "McCrary has vast experience in technology project and product development leadership, and prior to joining Leaf as COO was strategic planning director at Heartland Payment Systems..."
Updates from Glenbrook:
- Glenbrook Payments Boot Camps: Aug 5-6 in San Jose, CA.; Oct 7-8 in Palo Alto, CA.; Oct 21-22 in New York City; Dec 9-10 in Palo Alto, CA.
- Glenbrook Payments Insights Workshops: Innovation in Payments, May 8 in Palo Alto, CA; Bitcoin: Basics and Beyond, June 25 in New York City.
- 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.
- Feedback: How are we doing for you? I'd love to hear from you - drop me a quick note: firstname.lastname@example.org or leave me a voicemail: +1.650.469.3421.
- Got news? Please forward press releases to: email@example.com.
- Need consulting help from Glenbrook for one of your payments projects? Let us know your needs here - and we'll get right back to you!
- Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews